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I am curious how large Roger Ver's Bitcoin savings is. Is he still a part of the "Bitcoin Elite"? I ask this because I feel he might dump all his coins and support something else or he kight retire entirely in the future if he does not get his way in the battle with the Core developers.
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With $1000 in the not too distant future and the ensuing sell off (I'm sure many consider this a psychological target to sell 20-50% of their bitcoins for profit, if only to re-invest after the drop).
The question is: after $1000, just how far do you think BTC will drop back? Could we see the days of $500 from August again, or are we stable above $800-900?
I would welcome the "days of August of $500" again. Please let it happen, I would be very happy to pick up those coins and add them all to my cold wallet. Bitcoin has been proven time and time again that it has not reached its full potential value yet. The dark markets is a potential billion US Dollar market with Bitcoin in the middle of it all, supporting it. Where do you think Bitcoin's price be in 5 years time? It will be higher than it is now. |
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It will be good for bitcoin. Since bitcoin surge to $900, i've seen many news about bitcoin. Some of that are good and some are bad. But this is good advertisement for bitcoin. Reddit is a bigtime forum. Many people will read this so i hope it has a positive effect on the price.
I think that most of the news about this current bull run has been positive, i have seen the mainstream media take a liking to bitcoin over the last 6 months. i think that most of them are secretly getting some for them selves before the real pump comes. The mainstream media would write about anything that's trending without giving much thought about it. But they definitely add to the general hype about bitcoin. You cannot blame them. The mainstream media will write any story and hype it or make it interesting by adding a few ideas of their own here and there. Journalism today is all about the money now just like anything else in life. |
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I would be careful with the obvious options such as an exchange or gambling platform. The market is quite saturated already, and it can become very costly to attract a large enough customer base to make a profit.
In addition, security is a major issue with this type of business. Just buying a template is likely going to cause you some troubles.
I think a great addition would be some kind of incorporation of contracts or land ownership on the blockchain. This way it would be indisputable what is in the contracts. The company can offer an encrypted message on the blockchain that they can decrypt so not all details are publicly visible.
For a person who has been here for a long time I cannot believe you are still into what the snake oil salesmen are selling. Everything that has been created with that kind of idea are turning out to be ponzi schemes. |
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Bitcoin has made a good impact in my life, because there are no store that accepting bitcoin in my country, usually i exchange my bitcoin into fiat and then I bought whatever I need with it, if there is an item I found on internet and I can purchase it using bitcoin then I will used bitcoin to buy it, bitcoin has helped me fulfill my daily basis need for months
How do you do this? Is it not that fiat can also fulfill your daily needs too? Meaning, you can still fulfill them without the need for Bitcoin. If you mean that it fulfills some of your daily needs because you earn Bitcoin from your signature campaign, convert them to fiat and then pay for your bills then that does not count because fiat is as much as fulfilling. What the OP was asking is what impact did Bitcoin give in your daily life or business. Unless you are a drug dealer or a criminal who transacts in the dark market on a daily basis, it would have no real impact in an ordinary person's daily life. |
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Some snippets from the Reddit thread: [–]CrashXXL 11 points 9 hours ago*
ITT: Everybody saying nobody knows what Bitcoin really is. [–]SpontaneousDream 187 points 15 hours ago
A few of the comments here are just painful to read...some people seriously misunderstanding how Bitcoin works and WHY it has value/utility. [–]lifethrowaway23 1 point 4 hours ago
ITT: Smug comments saying how people have no idea how currency/bitcoin works. [–]xspacess -3 points 12 hours ago
its like fools gold,no one knows who sets price,what its really worth,how much is about [–]Gdott -6 points 11 hours ago
I laugh every time I hear people investing in BitCoin.
[–]PleaseBeJokingPlease -10 points 14 hours ago
Only people who care about bitcoins are the people who own them.
Only a moron would fall for the ponzi scheme that is bitcoins.
"Hey man, buy bitcoins and we'll both be rich when the value goes up!!!" [–]holy_paladin -3 points 8 hours ago
These bitcoin investors have no idea how much they gon lose when we get our first quantum computer in the wrong hands [–]Yimpish -5 points 7 hours ago
In 2013 a bitcoin was worth easily more than $1000, this just means it's about to drop off again soon.
Damn the similarities to the threads/comments on here are uncanny  Some of those comments are from the people who have closed their minds on the possibilities and the potential of the technology. Not to mention the potential profits that can be made with it. I admit that back in 2012 when I have first heard about Bitcoin, I was one of the doubters and brushed it off as nothing but a fad. When I saw it rise to $1000 at the end of 2013 I was amazed and vowed not to become closed minded ever again. So now I am here buying Bitcoin whenever there is a "discount". |
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I am curious of your opinion about if you have to start a bitcoin business from scratch today. What is the type of business will your start, even if any of this type of business don't exists at the moment? I know the typical business type on the market are : - Exchange
- Blog
- Lending
- Trading
- Selling stuff in bitcoin
- Freelance job in bitcoin
Exchange there are some good sites, they are doing a good job and their service is enough for the currently Bitcoin enthusiasts; There are a lot of blogs, and most Bitcoin enthusiasts don't have interest on it, as they can read about everything here on forum; Poloniex has a nice service for who wants to lend money; Doesn't worth to start a BTC shop if you don't have reputation, nobody will trust your service; There are a lot of freelance jobs sites also, no reason to create more one. That is very true and I have the same opinion. Instead of looking at the more obvious choices of online businesses with Bitcoin as the main currency, it is time for us to look at the dark web. It might be time for us to think of a better way for Bitcoin rather than looking for a way in using it as a replacement for fiat. It is time for us to help create and support a new economy that fiat money cannot penetrate. The dark markets are a growing industry and in the future it will be the main playground where Bitcoin will thrive. |
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What about a website like backpage.com? I believe there is great potential with that kind of service because there are a lot of shady business deals and offerings that need a medium that allows and encourages activities like hiring an escort. Bitcoin + a site like it would make hookers independent from pimps and will have wider coverage to advertise themselves.
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"In the history of Bitcoin, there has only been 11 days that the market was higher than it is today. So if you bought on any of the days since 2008, other than those 11 days, you are profiting."
Is that true? Kinda cool if it is, and it's pretty good that bitcoin is sparking any sort of discussion outside this forum.
Still can't stand reddit, though. The whole 'forum' is like a huge turd magnet.
It is a fact. You can check the Bitcoin chart if you want. With that logic I would expect most of the active traders to stop buying because of the fear of losing some of their gains. Bitcoin might plateau in the coming weeks and could even crash slightly giving us another opportunity to buy and hold some more. |
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The pump has certainly stopped but I am still holding my breath that Bitcoin will reach ATH and stay there. But we know that is asking for too much ao I would settle for a new ATH and would accept the possibility that it could crash again at higher lows.
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hello
I have a question
what was impact of bitcoin on your daily life/business?
do you use bitcoin in your really life every days in your country?
No real impact and it has not changed my daily life. I know that it is the same for the large majority who visit this forum. Why do I say this? That is because there is no need to buy anything you need in your regular, daily lives with Bitcoin. Cash works fine thank you very much. Anybody here who says Bitcoin has changed his life is mostly either lying or lying. |
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but anyone who wants no central bank/middleman/intermediary. if i see you later praising LN as the only solution to bitcoin. you have already failed in wanting an open system. oh and dont give real bitcoin supporters the dooms day of data centres and data bloat. 7 years of data fits on a fingernail not a datacentre  lets cencentrate on growing bitcoin and expanding it while remaining permissionless. lets not feed into the banker paid drivel that bitcoin can only head in one direction. We do agree with each other that Bitcoin will need bigger blocks at some point in time. If LN is implemented, I believe bigger blocks should be next in the menu. We do not want a bottle neck happening on a regular basis when people close payment channels. I also agree that storage will not be a problem. But what about bandwidth? |
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The reason why Bitcoin works and why it makes sense is because it can penetrate in niche markets where banks do not want to serve. A good example of this is the dark markets. It is flourishing and prosperous thanks to Bitcoin. Without it as an underlying medium of exchange, such a market online will not be possible.
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The halving was already priced in because it was an expected event months before it was going to happen. In part, you are right. The speculation on the halving is, in my opinion, the reason why the BTC price went up the whole first half of 2016. The halving itself is not too important for the price: As I've pointed out several times in this forum, the only thing it did is that it lowered the growth of the money supply, but this growth is still is about 5% per year. Bitcoin's fundamentals have changes since 2013 due to the growth of the dark markets and the increase in its use for criminal activities. The demand has grown. Let us all agree with that simple assumption.
I don't know if criminals are the reason, but that the demand has grown cannot be negated. At blockchain.info there are some interesting charts: block size, transaction volume (in transactions) and total paid transaction fees have grown strongly in 2016. All three are indicators of demand growth, but most notably the last one, because it means that the transaction volume growth was not due to spam increase (like in previous peaks) but because of real transactions because people are agreeing to pay slightly higher fees now. Compare the amount of commerce and trades that has happened between the dark and criminal underground markets and the legitimate markets since the beginning and we can assume that a majority of that activity is in the dark markets. The reason is because Bitcoin has no need to be present in markets served by the banks and it is the only thing and everything that will support illegal, underground, dark markets. |
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Bitsane admin, when are you going to add Ethereum Classic in the exchange? I see that Bitcoin and its "silver" Litecoin in the site. I also see Ethereum but where is ETC? That coin has the potential to bring in more traders in the site especially if it is allowed to be traded on margin because Poloniex does not offer margin trades for ETC.
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So after the first halving in 2012, there was a lag of a few months before we started seeing the price rise and ultimately reach its ATH. Many, including myself, predicted we would see something similar with the second halving. After the second halving earlier this year, there also wasn't any immediate significant rise in price. There was also the Bitfinex hack which would have a negative effect and possibly caused an even longer lag period. Could we now be seeing the effect of this year's halving with the price starting to surge after months of sitting in the 600's - 700's? Are there other factors which might be involved?
I do not know why you are making things up. The halving was already priced in because it was an expected event months before it was going to happen. Bitcoin's fundamentals have changes since 2013 due to the growth of the dark markets and the increase in its use for criminal activities. The demand has grown. Let us all agree with that simple assumption. |
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If many people are very unhappy with Bitcoin because it is slow and has low transaction throughput, why not support Litecoin? It has 4 times the speed and 4 times the allowed transaction throughput. Roger Ver should start supporting it instead of advocating for his hard fork.
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This on-going bitcoin rally is amazing for everyone who believes and I hope this won't just be another fake rally like we had in the past though it looks very different this time because bitcoin's fundamentals are getting much much better than in the past and the acceptance of mainstream people about how bitcoin works really makes this recent rally very special.
Do you have any evidence that the fundamentals got significantly better in the last six months? I see this current price rise as a speculation pump, yet again. No more than that. If someone has the data from the growth of the use of Bitcoin in the dark markets that would be a welcome gesture so that we could show everyone that the fundamentals have truly changed. We also have been seeing more and more news about people's computers that are infected with ransomware. Bitcoin's use case as an "X for ransom" currency is growing and will grow more in a serious way in the future once kidnap for ransom groups use Bitcoins. The whole point is yes, Bitcoin's fundamentals have changed since 2013. |
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I think we all know on some level this is worthless, simply a gambling toy. At least with gold you can melt it down and make something pretty.
No, we don't know that, it has value - the electricity and processing power invested into creating it. As for gold, you can also melt bronze and make something pretty, so the value of gold should be about $1 per pound by your own valuation. GOLD PLATES THE CONTACTS ON THE HARDWARE THAT MAKE BITCOIN POSSIBLE. NO GOLD = NO BITCOIN I would love to see gold at the price you suggest because the miners wouldn't be mining it. Bitcoin would be no more. That is a desperate argument against Bitcoin. Sorry Sir Alpha Goy but you have lost and no one is listening to you anymore. The people in the community are listening to what matters more and that is the market. It is telling us to hold because we will be having a good ride. It will also be good to buy the dips on the way up at +$1000. Enjoy your gold. |
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It is people like OP that helped Bitcoin's price to go up really fast lately. They keep saying that Bitcoin is over and done. They also say the price "should" go down. The minute they realize they are wrong they hurry up and buy at market because they are scared they might miss the big move. They did not realize that they are the big move and the whales dump on them.
Wind_FURY = Another troll-bear account, probably Kwukduck alt. First of all I am not a bear or a troll. I am a forever bull who likes to but the dips. Second I am not a Kwukduck alt account but I think you are an alt account of someone because you are registered last 2013 and yet you have very few posts. Maybe you are a bought account. Third I made a mistake. I do not mean to answer against the OP, my post was directed towards Sir Alpha Goy. Please check the whole thread and our posts against one another. |
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