No it is not.
I think, the most important indicator is transactions per day. That says a lot more about the currency than the price.
I am a litttle concerned can we trust that stat however, i think the transactions per day would be higher now anyway so yeah... No, we can not really trust that stat, but we could tweak it, e.g. by measuring the transactions per day of the 100 biggest merchants. |
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That is a great site. Playing around there is really fun and it gives a more sophisticated estimate. |
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There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?
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No it is not.
I think, the most important indicator is transactions per day. That says a lot more about the currency than the price.
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PM only
Name: turvarya
Rank: Sr. member
Post Count: 886
BTC: 1CVKEF31ZzuFPzp6zkETYj6moyQuRgj7H
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Signature campaign(no pm)
Name: turvarya
Rank: Sr. member
Post Count: 885
BTC: 169cHpPRebyiUcnKkANt7x8CRX6QuVqQXN
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What a bunch of losers, you bitcoiners are no better than the fiat bankers who print money out of thin air...
It only takes one failure to prove the whole bitcoin industry is a hoax, and there have been plenty of failures...
The only interested parties in bitcoin are pirates. crackheads and mafia not to mention the weak economies that allow you crackheads to get away with it...
You make me wanna puke
Don't lie to me mate and let's be honest with each other , how much you really lost recently when Bitcoin price dropped a lot ? & If you feel that way and you don't like bitcoin simply leave it instead of making an account here and bullshit with us . btw USD & euro are more used then Bitcoin from the Mafia & crackheads & pirates  I've done my due diligence dope and researched all the bad things about bitcoin. There is no way I would waste good money on this crap I'm all for you buying the stuff though, good luck crackhead Then you won't mind sharing your knowledge with the community here , would you ? what are those "bad things" about bitcoin . Explain to us mr intelligence btw no one is forcing you to use it , you are free to do what you want but don't come here insulting things that you don't know anything about  "The truth will set you free. But first it will piss you off." Why don't you enlighten me a little - I've already said most of what was on my mind - all BAD It will be interesting to read all the crud you have to offer... So far LiteCoinGuy is the only one who has posted anything in the affirmative Explain this simple equation to me: When you invest in Land and the stock hits zero, then what you have left is Land What do you have left when your bitcoin hits zero? according to the bitcoiners and some fanatics from here, you have left "the libertarian principle". hahaha Is is not enough? lol What do you have left when USD hits zero? What do you have left when gold hits zero? That is just a stupid question. |
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From what I read about SN, he had some mental issues(like most geniuses) and couldn't really handle all the attention, he would get, if his true identity would be known.
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They can't even scam him, when they use multisig. They can just prevent him from getting his funds out, when the 2nd party doesn't respond, but there is no reason to do that.
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"The soup seems pretty thin"
as we like to say in Austria.
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I dont think it relates in any way llike the above user mentioned its probably due to russian announcing they are banning bitcoin again the recent hack and a number of other things.
Russia banning Bitcoin, who cares? Bitstamp hack, who cares? They are back to business as usual. |
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I didn't choose it for the anonymity, I chose it because it's easy as 1-2-3. I can send money to anywhere in the world right here from my computer without needing the help of anyone else.
You didn't convince me to be honest , isn't that what every other payment method on the internet offers nowdays ? you can send money to anyone anywhere using his Email or Username or whatever & you don't need any help either . You need 3rd party services. Be it Paypal or E-Banking of your Bank or Western Union or whatever else is there. |
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I don't think public perception will really matter very much, everybody's heard it all before.
Whenever you mention bitcoin to someone that's not into it they always say something like "isn't that the money used to buy drugs with" even when Silk Road went down both times people were still saying this because they didn't know it went down.
I admit this is not good when people say that but it will go away in time when everybody learns the full use of BTC.
Have you lived in a cave for over a year? The simple answer to "isn't that the money used to buy drugs with" is: "No, it is the internet currency Overstock, Dell and Microsoft are accepting" |
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Just a theory with no actual backing, but I was wondering since I didn't see that conspiracy, yet. So I thought I make my own thread.
I can think of 2 scenarios:
Someone who was involved in Silk Road and made a shitload of Bitcoin, just got afraid, that with more attention to the trial, his stash of Bitcoin might also be found soon, so he cashed out.
An organization that wants to hurt Bitcoin(let your fantasy about who that is, go wild) and was planning on doing so, by slowly buying up Bitcoin to make a big dump(hihi) on the exchanges, thought, a few days before the trial would be a good point to execute it, maybe with some other upcoming events, that will hurt Bitcoin even more.
What do you guys think?
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Thanks for info. Will not use them
They claimed that because I changed my password once in the past that I can no longer sign transactions unless I remember my old password. So after multiple tries again just now, I remembered my password and the signature has been confirmed on my end (again).So now they have no more excuses. They claimed the fault was my own because I needed my old password to sign the transaction. Now I have done so. Let's see what lame excuse they pull out of their ass this time So, after you used your old password like support said, you should, it worked? |
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lol So, it was resolved half an hour after he started complaining here? Good job, Brawker They obviously have a pretty fast support |
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if there is not a middle class, than I must be poor, since I am definitely not rich.
Definition of rich, middle and poor really depends where you live, what is your country standard. To be reach in Africa or USA is really not the same category. But, some people consider not just material wealth, money but also family, happiness, health as important parts or requirements to be reach. Think about this. You are right, of course, but I was just talking about wealth in the means of having money. I have no problems paying my bills and I pretty much have everything I (really) need. So, I am definitely not poor. I don't own a car(could afford that) or a house(would have to take a credit). Don't own jewels or anything similar. If I would lose my job and wouldn't find another in a 2 years period, I would really be fucked. So, I am definitely not rich. I have Bitcoin, but unless they raise a lot, like 10,000 percent. That wouldn't really change much about my situation. |
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I am not really using it that much. Just made a handful of purchases with Bitcoin, since my options are limited, here in Austria. But I am sure, that will change over time.
I choose Bitcoin for 2 main reasons:
It is secure by design: Most technologies nowadays are complete unsecure(since when they were invented, security wasn't that important), with security build on top of it. Bitcoin is secure at it's core.
I control the money: E.g. I could just take my paper wallets and move somewhere else, or just remember 12 words. Nobody could really stop me from that. Transferring the money in my bank account to another countries bank account. I don't think, that is that easy. Cashing out, and bringing that cash over the border. Not easy either.
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Miners are in control of whether it is profitable to mine bitcoin. Take half the mining machinery offline, and the other half will generate twice as much bitcoin per hash. It's that simple.
Maybe you have heard the term "competition" before. If not, look it up on wikipedia. It is not that simple. |
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