Hello guys,
My understanding of crypto-currencies/Bitcoin is, I would say, intermediate. I need people to make me understand why my assumption that Bitcoin WILL disappear in mid-term and be replaced by another cryptocurrency/technology could be wrong.
Why am I making this assumption ?
If I am not mistaking, one of the main principle of the Bitcoin (and most crypto-currencies) is that you can't change how the technology / the blockchain / the crypto currency is made. Meaning that the Bitcoin that went out in 2009 is supposed to always be the same. (unless you make a Fork butt well, it seems like all forks will always be much smaller in Market Value than the original Bitcoin).
If technology stays the same forever, isn't it OBLIGATORY that another technology (and I mean by that, probably another cryptocurrency) will take the place of Bitcoin in the short/middle term ? Not sure if you know it, but if Bitcoin was a country, it would already be 71th in the world in electricity consumption ! Isn't the Bitcoin aim to be the world-decentralized money simply impossible due to the limitations of the technology?
It seems to me quite obvious that another crypto-money WAY less demanding in energy/electricity and also waayyyy faster with calculations should replace the Bitcoin in the future IF the Bitcoin technology isn't evolving.
English is my third language but I hope I am making sense.
Your basic assumption is wrong. Out of Satoshi's code, only ~30% is present in Bitcoin's code today. There have been multiple changes and BIPs (Bitcoin Improvement Proposals) which have been implemented.The only issue is that consensus has to be developed for any change to be implemented. |
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Hmm... Not sure if it will work. They seem to be trying to exploit the technology to meet their narrow ends. The message coming out from Russia seems to be that we are against Bitcoin and other decentralized currencies, but we want to create our own crypto-rouble. That is the not the message you want to send out if you are pro-innovation.
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You don't need a fiat cryptocurrency to make online payments. Credit cards and online bank transfers work perfectly well for that. These authoritarian governments should stop trying to appropriate blockchain technology.
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TOLD YOU.
we're at $770... $1000 coming soon.
Is it time to start seriously talking about $5000 BTC in the next 3 years?
You prediction was late by over 2 years  you mean the 5k price came earlier. yes, much faster than expected. but most people were doubting even that! I think people must have had a faint hope at the bottom of their hearts, but may not have expected it to happen. I am happy that it happened, but let us wait and see whether this is a flash in the pan or the price can be sustained for the next 2.5 years. |
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Hello, i'm kind of new into crypto currency, I am currently trading on few exchanges. But i noticed all of the exchanges use bitcoin to deposit and withdraw, also no matter what coin you trade use bitcoins. So when you decide to withdraw your bitcoin and convert to USD, how do you go it? I don't see any option in any exchange, which is very weird.
Here in my country we have a wallet wherein when you need your bitcoins you just request and its automatically converts your bitcoin into our currency. Through this wallet you can even diretly pay your bills and topup your phone. This is the only wallet I used since it is trusted by many of us. Do you hold your bitcoins in an online wallet? That is not a wise thing to do, especially if you have substantial number of bitcoins. The biggest advantage of Bitcoin is its decentralized nature and the fact that you don't have to trust anybody with your money. You are undermining that by using an online wallet. |
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Seems to be a sane answer. If he cannot value it and see whether it is over-priced or under-priced now, he shouldn't be investing in it. In fact, I think Warren Buffet also had the same reasons - he doesn't invest in things he cannot understand.
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Black Monday was specific to stocks. we should be using different benchmarks. Like what happened after Mt. Gox crashed. And only 40% decline in price should qualify as a crash. 20% is nothing when you look at Bitcoins volatility.
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There is a hope that the split will only bring me profits.
And how do you exactly plan to achieve this? The only way I can see this become reality is when you own a decent amount of Bitcoin, which will then result in you to have an equal amount of BG. And then you still depend on BG to have a decent exchange rate initially, which I highly doubt. The best profits will be made when you get credited BG on-exchange and sell them at that moment -- BCH went even over 0.4 BTC on its first trading day, but there is no way I can see BG do the same. People might be lucky if BG tops 0.05 BTC.... Not much to get excited about unless you're a larger BTC holder. when many speculate that bitcoin gold will be the same as bitcoincash at the beginning of its emergence, I think it will not be as expected, because at this time a lot of people who hold bitcoin to get bitcoingold for free, therefore I think the appearance of bitcoin gold is not would be like bitcoincash that gets a big advantage. and 0.1 I think is the highest price for bitcoingold Mark my words. Bitcoin Gold will disappear without a trace. It will have a fraction of Bitcoins value at the start and when people start dumping, its price will go to zero. the lucky ones will be those who dump quickly. |
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Really? I think this was a master stroke by the BCH team. nobody owns the Bitcoin trademark. Newcomers might get confused a little bit at first, but then you expect them to do their due diligence.
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Bitcoin price in 2017-10-18: $5101.4
Bitcoin price in 2017-10-19: $5735
24 hour recovery of $633,6: holy shit. Have we ever seen such a recovery before? The recovery of the chinese ban was pretty epic itself but I think it was not as quick in 24 hours, and im not sure if it's even been 24 hours yet since the dip, we'll see at what price do we finish today but that was nuts.
The recovery may be substantial, but the quantum of upswing is not. I think we went from $4800 to $5800 In one day. crossing $5k was a record and we zoomed to $5800. Nothing beats the experience on that day. |
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The big rumor going around last night is that Goldman Sachs is going to launch market-making in crypto currency for their clients in the third quarter of 2018. I don’t know if that’s true or not, but multiple people who don’t know each other are saying it. And why wouldn’t they? If that’s what their customers are asking for (and they are), then of course they will. This is the institutionalization of something that right now is still on the fringes of finance. I really like the writing style of the author. The event described in the quote above would obviously create tremendous upward pressure for the price. Personally, I think we will see a 25000 $ / BTC price - or even higher price levels - if the big banks really start offering market-making for cryptocurrencies. The only downside is that many institutional investors are legally bound to invest in certain asset classes. Unfortunately, when these guidelines were created cryptocurrency wasn´t even invented yet. So we have to wait till Bitcoin ETFs are created and institutional investors pile in. Think of the delay as an opportunity to get more cheap coins. These guidelines have some utility. |
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These kind of precise predictions always get my goat. It is one thing predicting $10k by 2019. It is quite different predicting $27,395 by February 2018. Doesn’t he believe that there is a margin of error.?
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good luck with your decision. it is hard to predict the market especially now everyone is bullish on the btc. maybe its time to look at potential Alts.
I don’t think looking at alts is the right strategy now. If you are unsure about a bitcoin crash coming up,you should shift to either cash or gold. Putting your money in alts only exposes you to more risk. |
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Considering Microsoft ‘s reputation in building secure products, I am not sure if this is a good thing. Just because it has blockchain in its name doesn’t mean it is secure.
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Jamie Dimon has the support of 34%. That is surprising. Even his daughter doesn’t believe his stance on bitcoin. If the audience had been asked if bitcoin would reach $100,000 a lot of them would have said yes. |
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I don’t understand why there is a separate demand about bitcoin tax. Bitcoin is money. You don’t tax money. You tax income. People who make profits using bitcoin should pay taxes on their gains.
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Bitcoin prices actually increased in the past week, however it has stagnated in the past few days. I think the $ 58xx is the Summit of the bitcoin
as I predicted, the price will not reach $6000 mold before the fork and Bitcoin will reduce about $ 55xx after fork then will rise up again in November
This is just my idea
The price has stagnated? What did you think, that the price would break through the $6000 level like it was peanuts? Damn. At least explain why you believe that the price will go down after the fork this month, because that doesn't really make sense considering that Bitcoin Gold is far too insignificant, and won't have any sort of negative impact on the market. In November is what would justify you to expect the price to go down -- the SegWit2x hard fork poses a serious threat in the worst case. Or did you not think about that fork? Which if so, is pretty bad.  can you see the saturation price in the past few days? the above is my opinion, I believe that the price will decline after the fork I am not so sure that the price will decline. We could have a relief rally, like we had after the bitcoin cash fork. In the end, uncertainty has declined after a fork and that could lead to the price taking off. |
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This is a bit too early, I feel. In schools, children should be learning the basics of maths and science. Exposing them to such technology is not necessary. Plus I doubt if they will get qualified teachers.
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If it is a fad, how is he so sure that he will be able to get out of it? A lot of economists have been making headlines by running down bitcoin. They get a few minutes of fame, but they will be the butt of jokes in the future
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If bitcoin manages to put the banks out of business, we will be saving a lot more energy. In any case, I don’t understand the purpose of this rant. Governments are not going to shut down bitcoin because it consumes too much electricity.
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