There are a lot of things that can hinder bitcoin adoption, or potentially cause serious harm. There is already a proposed 2x hardfork potentially going to happen soon (in my personal opinion is an attack), the 51% attack, exchange manipulation, exchange regulations, AML/KYC overreaching, FUD, countries banning bitcoin, bitcoin cash, hackers... There are always so many forces acting on bitcoin it is amazing it is still standing strong, I love it.
Yes, I agrees with you on that things mate, even there's so many attempted to turn down bitcoin, but still up to now bitcoin stand still and became more stronger. And what good about it the demand of the bitcoin users and whale investor was also supported bitcoin in times like this of bitcoin faces circumstances. No one can take down the mother of crypto currencies. Let them put as many hurdle as haters can in the way of bitcoins and let them learn a lesson for lifetime when BTC will crush all these freaky little jerks beneath its feet. Never ever underestimate Bitcoins and its community! Sorry! Got a little bit overemotional LOL. Well, my friend I appreciate your honesty and commitment to Bitcoin, but you should never say never. It is possible a new coin could overtake Bitcoin, just like Facebook did to MySpace! |
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Yeah, no. Over a million Bitcoins are already lost forever. And many people, I am talking about many, many people have lots of Bitcoins. Maybe there will be 100,000 millionaires or so. Anyone who owns 1 Bitcoin will be a millionaire.  |
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Can bitcoin be the world's currency?
By world currency I am assuming you mean currencies that can be used by everyone in the world, without translating that currency to that country's native fiat currency. I don't think Bitcoin will become this though, too many problems such as high transaction fees, but other altcoins might have a chance of this. Anything is possible, but we still have a LONG ways to go if Bitcoin is to become used by everyone. Still today 99% or more of people do not know what it is. |
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The way it works right now is if you withdraw 55% then you instantly lose the other 45%, and your account gets deleted permanently. However, if you wait until the 15th the new exchange launches and you can get back potentially 100% or more.
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Right now I am planning to save my Bitcoin for the future when the price soars over $100,000. Also I will spend it but after spending always buy more, just like when you spend your credit card you should pay off immediately. I don't want to spend Bitcoin and not buy more and then regret it in the future.
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Bitcoin price keeps increasing. Price is x10 considering last year. Even 25k-50k-100k is predicted.
Are you adding more bitcoin by buying with cash? or you trade or invest in ICOs & altcoins in order to increase the amount you have?
or do you just hold what you have?
I am not on buying. Money is definitely a student problem. What I do here is signature campaigns and doing constructive posts that are helpful to other bitcoin users in sorts of ways. Yes I earn I save the half of what I earn and spend the other half for my needs. It can be hard these days to invest in Bitcoin if you do not have any income. Especially if you are a poor student. I know how you feel. Thankfully I did not get student loans so I am very lucky. |
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You don't want a next bitcoin. Bitcoin was the first and will stay the first. You will have 21.000.000 bitcoins and you can divide those into smaller numbers. Everyone can own a piece of the cake. There are coins and tokens with other purposes. So you can see Bitcoin as the digital gold currently. While If they upgrade Bitcoin properly why we can't use it in daily world? Pay a cup of coffee and pay for your gas? If the transaction fees get lower those simple transactions everyone would start using Bitcoin for that. Right now Bitcoin is good for the bigger transactions.
Don't you think it's possible that there could be another Bitcoin? I mean everyone used to use Myspace... well not everyone, but millions of people. And then suddenly in a few years it went out of business and was replaced by Facebook - a much more complete social network. There have been criticisms that Bitcoin does not use all of the possible features a cryptocurrency can have. Maybe it is the Myspace of cryptocurrencies? Only time can tell... |
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Can you teach me on how to invest in bitcoin wisely? I have a tight budget for it!
The smartest way to invest in Bitcoin is to wait for its price to drop to buy it and reserve it for when its price rises. Or simply buy and stock it right now, I believe in the future Bitcoin prices will be higher than the current price. Of course, just like any market the best thing we can do is buy and hold. It is that simple. And it is obviously best to buy low and sell high. Right now would not be the best time to buy Bitcoin as it is so high compared to just last month. |
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Yes it is indeed, and I think it would go through even if you sent it today... it would just take a LOT longer than it used to. But eventually it would. I sent an 11 sat/b a few weeks ago and it went through within 24 hours!
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The ‘creator’ of Bitcoin, Satoshi Nakamoto, is the world’s most elusive billionaire. Very few people outside of the Department of Homeland Security know Satoshi’s real name. In fact, DHS will not publicly confirm that even THEY know the billionaire’s identity. Satoshi has taken great care to keep his identity secret employing the latest encryption and obfuscation methods in his communications. Despite these efforts (according to my source at the DHS) Satoshi Nakamoto gave investigators the only tool they needed to find him — his own words. Using stylometry one is able to compare texts to determine authorship of a particular work. Throughout the years Satoshi wrote thousands of posts and emails and most of which are publicly available. According to my source, the NSA was able to the use the ‘writer invariant’ method of stylometry to compare Satoshi’s ‘known’ writings with trillions of writing samples from people across the globe. The NSA then took bulk emails and texts collected from their mass surveillance efforts. First through PRISM (a court-approved front-door access to Google and Yahoo user accounts) and then through MUSCULAR (where the NSA copies the data flows across fiber optic cables that carry information among the data centers of Google, Yahoo, Amazon, and Facebook) the NSA was able to place trillions of writings from more than a billion people in the same plane as Satoshi’s writings to find his true identity. But why? Why go to so much trouble to identify Satoshi? My source tells me that the Obama administration was concerned that Satoshi was an agent of Russia or China — that Bitcoin might be weaponized against us in the future. Your words are your fingerprint. The moral of the story? You can’t hide on the internet anymore. Your sentence structure and word use is MORE unique than your own fingerprint. If an organization, like the NSA, wants to find you they will. Source Here. I am amazed at the capability of NSA to trace an unknown guy through his own words. Indeed, Satoshi Nakamoto wrote many things about Bitcoin and cryptocurrency in general. Through the use of modern technology, they are able to identify the man...though of course the details are not yet released for now...maybe in the coming decades we would really know who can be the man or woman behind the name Satoshi Nakamoto. For now, we the ordinary mortals could only speculate on his identity. Sounds interesting but i don't believe this. Satoshi is the modern genius and he can not be traced unless he disclosed his own identity. I don't think that by using such technology anyone can trace Satoshi. Meanwhile, real satoshi must be laughing Realistically, even if he is identified it wouldn't matter because once Bitcoin is mainstream then people knowing who he is wouldn't stop them from buying Bitcoin. With that said, if they knew now maybe it wouldn't end up working because his mystique adds to the whole story. |
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why are the exchangers fees too high today because bitcoin's price is too high today?
No. It only has to do with the volume of Bitcoin transactions around the world. The more transactions there are around the world, the higher fee we must pay in order for it to get mined. |
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Not even a question. Billionaires around the world are investing in Bitcoin as we speak and have been for many years. They know about things like Bitcoin far before other people do.
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Get a full-time job and buy the bitcoin on exchange...
Yeah man. Everyone wants to earn Bitcoin online, but it is not easy at all. Just get a job and buy it with your fiat earnings. It is the exact same thing. |
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PROS
Instant transactions
Great refuge against inflation
International mobility
CONS
Because of the great volatility you could have to trade at a loss if you need cash during a burst
Some higher fees in certain sectors
Not yet massively accepted
Instant transactions? I don't think so. Try up to 24 hours for confirmation. Volatility will decrease as the market cap grows over time. Virtually every sector has higher fees. |
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I think the whole idea is not a good one because it's hard to "implement" bitcoin as a national currency because of the infrastructure and other legal issues that a country faces. But I think that it's good to see bitcoin being more popular more useable by people and step by step bitcoin can become the most used currency within a country and then the government can think if it worth or not to set Bitcoin as a national currency.
Agreed with you, there are so many hurdles in the way of bitcoins to become a national currency. Governments will have to work hard if they regulate the bitcoins, there should be proper system to monitor the each and every transactions related to bitcoins. Government always wants to be in control of everything. They will stick their nose into Bitcoin and already have on multiple occasions. Unfortunately, it is something we just need to accept. |
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Let's hope for this, although I think $7,000 is really pushing it. My guess it we will get just over $5,000 to something like $5,500 or $6,000 and then BOOM, big crash. |
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Cashless society? I think it is impossible to achieve there are a lot of consideration to make it happen even cryptocurrencies are actively used in digital world. If you notice not all establishment/business are open to cryptocurrencies transaction. Some societies have no idea what is bitcoin and it uses. For me cashless society is impossible to make it happen.
Not really impossible but it will take a whole lot to make this a reality. Some.countries perhaps can support a society without cash entirely but there will be setbacks that would have to be hurdled at the start. It may take a hundred years if we're all even alive by then to seriously think about removing physical money transactions Modern technology is constantly speed up the development of society. Of course to use non-cash easier and for people and for the state. There are contactless credit cards. I think that it won't be long until the same bitcoin cards. The speed of the transition to cashless payments can be very high. For this you need only desire. There are already Bitcoin cards. There are companies like BitPay where you deposit Bitcoin and you can get a VISA card to make purchases automatically with Bitcoin from your account. It is amazing.  |
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Bitcoin is being endorsed by major celebrities now. When you have big names promoting Bitcoin all over the world you know it is going to go mainstream 100%.
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I recommend MultiBT. If you can still download it it is the best wallet, hands down. Other good wallets include Mycellium (great for multiple coins) and also a Trezor.
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"BTC fees exploding and BTC will crash down"
No, no it won't. Fees are not that high unless you need your transaction processed instantly. THEN you will have to pay a lot. Otherwise they are still not that bad.
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