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Craig Steven Wright once said that if he proves that he is the real Satoshi, then what happened to Ross Ulbricht may happen to him as well. He may be arrested by the FBI and thrown behind bars for the rest of his life. I am not saying that Wright is the Satoshi, but this could be one of the reasons.
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After several peak times in value in the past half year, Bitcoin is worth nearly three times as much gold as the world's most popular reserve asset. Nope. From where you got these figures? They are very surprising. Let's check the facts. Market cap of gold: $7,000 billion Market cap of Bitcoin: $75 billion As you can see, the total worth of gold is around 100 times that of Bitcoin. |
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Many BTC users want to see higher fees. Just compare fee revenue vs. subsidy revenue for miners. Fees need to increase much more to pay for the same level of security when the subsidy dries up.
I am a bitcoin user and I definitely don't want the fee to go over $0.30 (the fee charged by Visa). Miners already get a reward of BTC12.5 in the form of block reward. They should not get too greedy. Bitcoin is still in its infancy and the miners need to wait until the user base increase to 100 million or 250 million. If they increase the fee now, then it will negatively impact the adoption. |
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Also even if they manage to steal the BTC, how they are going to convert them to fiat in North Korea?
Hmm. Good question. Possibly using offshore bank accounts? They still probably couldn't convert that country's currency to North Korean Won though, since I don't think foreign money exchanges even support NKW. Though I don't think converting it to NKW would matter if it really was government funded. With that said, South Korea surely needs to step up their game. North Korea is pretty much toying with them. I heard that almost all of the identified North Korean offshore bank accounts are frozen (as a result of the UN sanctions). Converting BTC to fiat using these accounts would be very risky for the North Koreans. The FBI can trace these transactions and it will result in the funds getting seized. |
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If someone were to control 60% of the hash power and deliberately sabotage transactions i.e double spending , slower confirmation and higher transaction fee, people will lose trust in the system. Bitcoin has value because the people using it believe it has...like in a regular currency, it is backed by the economy of the country that issues it hence the people trust and use it same with bitcoin, without the backing of its users it would lose popularity and fall.
Achieving 51% hash power will be extremely difficult. And maintaining this hash power for longer duration would be even more difficult. And even if someone succeeds in doing that, what makes you think that he will do something that can reduce the value of Bitcoin to zero? |
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In my understanding, Bitcoins can be stolen by thieves, but it can't be hacked. The private key is too long and complex to be hacked through any method, including brute force. In future it may be possible, but right now no one is capable of hacking the private key.
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I think btc has 6/7 million adopters. Too late would be when 100 million adopt the btc.
You can't predict the maximum number of users. If the 100 million mark is reached, what prevents it from expanding the user base to 1 billion individuals? You need to note that more and more people are getting tech savvy now. |
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Why it is that Bitcoin is not accepted in our country (Nigeria)?
90% of the nations does not encourage the usage of crypto-currency, because they feel that coins such as BTC could be used for criminal activity such as payment of ransom and tax evasion. It is our responsibility to prove that Bitcoin is not linked to these criminal activities. |
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The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.
This is the most ridiculous post I have ever seen here in Bitcointalk. Using crypto-currency enhances your English proficiency? I really doubt that. If that was the case, then your English could have been much better. |
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You should rephrase your thread title a little bit. Rather than talking about the final price of Bitcoin, you should be talking about the peak valuation. The final price is gong to be zero anyway, either in the near-future or in the distant future. Because when a coin dies, its value becomes zero.
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There is no point in waiting another 3 months, in order to implement the increased block size limit. Other altcoins such as Bitcoin Cash are taking advantage of this situation and benefiting out of the chaos. Check the exchange rates of BCH. It has increased by almost 150% during the last 2 weeks.
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I just hope that eventually the Bitcoin ETF will get listed in NASDAQ. I was terribly disappointed when the SEC turned down the ETF in the first attempt. It is going to be a huge boost for all of us, Bitcoin users.
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It is clear that if we need to pay $4 as fee for every transaction, bitcoin can never replace cash. Bitcoin fees issue is needed to solve as soon as possible. Segwit seems one affordable solution therefore it received huge support from folk during lock-in. But that support seems to fade by now as after activation we are still waiting for its success.
It is not $4. I have heard about much higher fees for single transactions during the past few days. And I don't think that SegWit is going to resolve this issue permanently. 2 MB block size is simply not enough. |
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The higher the fees climb the less use cases bitcoin will have. Im sure already a lot of people dont even want to move bitcoin about due to the fees. To get around it any trades ive wanted to do ive had to do with alts and then change back to btc, not the best work around. Is this what bitcoin was destined to be?
I've not dabbled in alts....is there no fee to buy BTC with an alt? If you convert BTC to alt, the maximum fee may be 0.1% or 0.2%, depending on the exchange. So many of the users are converting their BTC to alts such as BCH and ETH, and withdrawing these alts to another exchange using a low fee. Once the coins are deposited in the second exchange, they convert the alts back to BTC. The overall fee may be 1%, which is better than 4% or 5% which we need to pay while exclusively using BTC. |
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If we compare them now , it is obvious that bitcoins are the best crypto currency and alt coins don't get a stand in front of it. People use bitcoins to buy altcoins , alt coins was started because of the success of bitcoins , it became the first crypto currency to gain value of $4000. Bitcoins have a big community behind them and the users are increasing in numbers ,
But we cannot say about the future , alt coins like ethereum have good potential, it may seem impossible but can happen in future .
Yeah, current bitcoin is still number one but the future is unpredictable because the competitor with bitcoin is very much, if Bitcoin does not try to improve and upgrade in the future, the competitors will be defeated and replaced Bitcoin. This is a very fierce market, any time Bitcoin stop development, altcoin will also take advantage of the opportunity against it. Altcoins have been trying to overtake Bitcoin for a long time now, with varying levels of success (if I am not wrong, Namecoin or NMC was the first altcoin, created on April 2011). Till now, Bitcoin has been able to withhold the challenge from altcoins, but I can't guarantee about the future. |
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Every marketing strategiest or advertising need experience that's why we are required to be Jr. Member and mostly Hero-Legendary that is because of experiences. Even if your Accepted or you need patience to be part of that campaign, follow the rules that is all.
Nowadays it is extremely difficult to get in to a campaign, if you are below Hero Member rank. A number of campaigns have closed down and some of the existing ones have changed their status to CFNP (closed for new participants). |
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Bitcoin is a digital currency, no matter what people say about it.
To become a National currency? maybe not at the moment, moreover compare to fiat currency such as dollar.
US Dollar has been around for centuries, bitcoin? Only 8 years. It's not fair to say it can not be when it just in the beginning of the development.
Give bitcoin 20 years, and let's see what it can achieve.
I don't think that age is a big barrier. What about the Euro? That currency is just 18 years old, and it is even more popular than certain currencies such as the Japanese Yen and the Chinese Yuan, which have been around for more than a hundred years. |
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The number of millionaires in the world (i.e individuals with net worth over $1,000,000) is around 13 million, and that is lower than the number of Bitcoins in circulation right now. Also, if one BTC becomes worth $1 million, then more than 5% of the total global wealth will be in the form of BTC.
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Even if the average number of daily transactions increase to just 10 million (from the current 300,000), the 2 MB block size would become too small to accommodate a reasonable share of the translations. I have a solution for this. We can reduce the block reward from 12.5 BTC to 0.125 BTC. And this will generate new blocks every 5 or 6 seconds. That means that every 6 seconds, we will be able to accommodate up to 1,500 transactions. 15,000 transactions per minute and 0.9 million per hour. And daily limit will be 21.6 million transactions.
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