I think Bitcoin has a lot of potential to become fully adapted as a digital/online currency, for offline the cash system is too easy to use and a common man don't want to go through the hassles of understanding a new system for his day to day expense. Therefore, I think Bitcoin will be more widely used for shopping/sending payments worldwide and will be more widely used as an online currency.
That could be the first step. Bitcoin can easily replace paypal. Once that happens, adoption in the offline world could easily increase too. |
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Dollars in a Swiss account also tend to lose value over time. Bitcoin doesn't. Even in a Swiss bank, some disgruntled employee could steal your account details and make them public. Not so with Bitcoin.  |
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They probably will be hit with additional taxes to fund the Greek government's follies, in any case. Even if they manage to withdraw their money in the form of Euros, in case of a Grexit, they may have to exchange Euros for Drachmas or a new currency. The government might rip them off using the exchange rate. |
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They better stay off Bitcoin. It won't do them any good and if they adopted Bitcoin news outlets would probably label it as "the debt currency"  The Greeks could already be adopting Bitcoin in large numbers. You never know when their country will be hit by capital controls. Bitcoin can't help the Greek government though. |
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That is kind of like asking how is Apple better than iPhone, or how is Nike better than Jordans.
Litecoin was built off Bitcoin.
That is a weird comparison. Both Bitcoin and Litecoin are cryptocurrencies. Bitcoin will have much more computing power associated with it, when compared with any alt. This makes the Bitcoin network more secure. |
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The article makes an interesting observation about the powers of different states.
In February, Quebec updated its financial policies to require operators of Bitcoin exchanges—where people can buy Bitcoin for regular money—and ATMs to obtain a license.
I do hope the state governments sync their policies with those of the center.
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The 21 Mn cap on bitcoins is what attracted a lot of libertarians to Bitcoin.
I, for one, would be disappointed if this does happen.
Very soon, you could have governments saying that they should decide the cap on number of bitcoins.
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Bitcoin Bucket Shop Kicks Buckethttp://www.bloombergview.com/articles/2015-06-19/bitcoin-bucket-shop-kicks-bucketSand Hill Exchange was a blockchain bucket shop that let people bet on the eventual public-market prices of hot startups. That is so illegal! It was shut down more or less as soon as anyone noticed that it existed, but the wheels of justice ground slowly on. A few weeks ago, Sand Hill announced that it had settled with the Securities and Exchange Commission for a $20,000 fine, but the announcement quickly disappeared, leaving me to suspect that the entire thing was just a dream, or a performance art project. But this week the SEC finally announced its enforcement action against Sand Hill, along with an Investor Alert warning of "fantasy stock trading websites."
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It is a long way but we are getting there, i expect it to happen within 15 years along with world-wide mass adoption of Bitcoins, what do you guys think?
If Apple can inch towards $1Tn, why not Bitcoin. I definitely see a lot more potential in Bitcoin than in a single company. If it does reach $1Tn (and I hold my coins until then), I can afford to take a small break.  |
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Do some good dear Greeks, buy some bitcoins!
They will buy Bitcoins, if you could guarentee them that the Bitcoin exchange rates will not got down by 20% or 30% all of a sudden (in less than a week's duration). Right now, Bitcoin is a very volatile currency, with highly unstable exchange rates. So obviously, people will go after safer options, be it the United States Treasury Bonds, or the American Gold Eagle coins. It would still be easier to buy bitcoins, transfer them out and reconvert them to USD. Not sure if there are any restrictions on Greeks buying dollars, but bitcoins can help circumvent that. |
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I think it is worth repeating over and over the extent to which the Greek economy is still heavily regulated and under state control. Tax collections are down, major portions of the economy are constrained by idiotic bureaucracy and inefficiency, and the labor market remains largely unreformed, as do state pensions.
The problem is that de-regulation and privatization are often painful enough under normal economic conditions, but will lead to catastrophic conditions in a debt crisis that Greece is in. The Greek people do not seem to appreciate the degree to which their own leaders and capital class have screwed the future of the country, by failing to modernize and revitalize the Greek economy when more headroom for change was available. It seems now that only a major economic collapse, much worse than what we have seen to date, is in store for Greece, sadly. With the world being much more integrated than in the past, the impact of a Greek crisis will be felt across the world, from Africa to Asia. If global financial institutions can affect the world, the impact of the economy of a country collapsing will be much more. Everybody, not just Greek citizens, will pay for the sins of the Greek politicians. |
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Isn't it a greater risk to buy bonds when the government is in debt?
Anybody who issues bonds is in debt.  If you do have money to invest, well-rated government bonds are the safest avenues for investment. |
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“So far I can’t imagine a situation where bitcoins would be considered a reserve currency, but we are looking at how this market is developing"
If at some point in the future, countries start holding bitcoin reserves, the price will just explode. Countries which want to break the hold of the US dollar on international trade can start this.
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if the value of your stocks have been falling, id say just convert them into bitcoin, the value of btc has been rising steadily for the last week or so, maybe the trend will ocntinue; better than stocks that keep deprecating.
OP shouldn't take a decision just based on last week's trend. He should truly believe in Bitcoin before making the move. |
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It is right now going downward since last so many months. Even as the bitcoin users are increasing and there are more number of bitcoin transactions, still it is going downward.
Increasing number of people using it doesnt matter actually because right now the price is being manipulated by few traders. You can easily check that since previous months ago there have been alot of positive news regarding BTC but none of it made impact to the price . Somewhat, it will requires few years for the price to increase or perhaps next year atleast after halving If that is the case, then it is dangerous for bitcoin economy, as most of the people are into it because of its decentralized nature. And I assume that few traders must be sitting at the very top to control the prices. Exactly. This rapid rise on the back of no good news can only indicate that it is the activity of a few traders. While price increase is good, people might wonder if it is a bubble and choose to wait before entering. |
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Bitcoins are no more difficult to buy at $1000 or $10,000 than at $200. You don't have to buy 100 million satoshis at a time. You can easily buy 1 million satoshis or 100 thousand satoshis.
Yes, they are, at least for a good percentage of people. As previously stated in my own post, which you disregarded, people would rather buy 1 BTC than 0.01. If you believe that a lot of people can afford spending $10,000 to buy Bitcoin, you would be surprised. I don't have enough money to buy a Tesla, but that doesn't make it any more difficult to buy a car. The units are arbitrary. I would rather buy 1000 bitcoins than 0.01, but that doesn't make it any more difficult to buy bitcoins. We should really popularize milli-bitcoins and micro-bitcoins. People will feel a lot better if you told them that they are buying 1000 milli-bitcoins, rather than 1 bitcoin. It is psychological, but it will help Bitcoin. |
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The responsible thing to do will be to pay off your student loan if you could afford it.  |
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Cash for the New Centuryhttp://www.wsj.com/articles/cash-for-the-new-century-1434318284If you watch Mike Judge’s brilliant HBO comedy series “Silicon Valley” (and why wouldn’t you?), then you’ll snicker at the number of times bitcoin evangelists say that they’re changing the world. In 2015 technological innovations can’t just be cool or practical; they must promise to Make the World a Better Place.
What sets the digital currency bitcoin apart is that it is actually poised to transform our lives (or at least our money), as Nathaniel Popper, a New York Times reporter, chronicles in his breezy and informative book “Digital Gold.” The question is: Is it changing the world for the better? It depends on which one of Mr. Popper’s many characters you ask.
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and why many do not travel, and go in the other side, if the difference is so big? it should not be so difficult for a usa citizen to move between states, and maybe find a new location to live, instead of wasting money in his current residence...
Usually, the location of your job decides where you live. It might be tough for the salaried class to just pack up your bags and move. |
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I'm optimistic about the future, I imagine it being widely accepted as a method of payment and trading. Because of it's decentralized nature, it's bound to be better accepted, which in turn shall increase the value. I think crypto-currency is highly potent, and is something that will be widely accepted across the globe. Well we're all somewhat optimistic, otherwise we wouldnt hang around here as much. But i disagree with you on this bolded part , since no central authority also makes every potential new user sceptical, given the fact that they have noone to turn to in the case of theft or fraud. I believe in decentralisation, but i don't think it's attracting the average Joe, but rather speculators and fast profit seekers. cheers If there is nobody to turn to in case of theft or fraud, people will be extra careful about their bitcoins. Average Joe will know that he has to be absolutely sure of security aspects before entering Bitcoin. That is a good thing. |
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