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Author Topic: How investing in bitcoin's blockchain benefits bitcoin in general ?  (Read 1427 times)
Fakhoury (OP)
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September 10, 2015, 04:53:13 PM
 #1

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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September 10, 2015, 05:56:25 PM
 #2

Bitcoin price will not be affect i think, they're not buying Bitcoins just creating utilities / services. If these companies can get people into buying Bitcoins to utilize their services then the price will increase.
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September 10, 2015, 06:08:51 PM
 #3

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.
lot of them probably would be investing directly into the bitcoin blockchain if the network had the capacity to suit their needs, but if they need more than 7 transactions per second (and almost all of them do), then they have to create their own chain.

insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s



1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
MF Doom
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September 11, 2015, 05:28:19 PM
 #4

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.
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September 11, 2015, 05:53:54 PM
 #5

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

Yes right now it's all about blockchain tech without Bitcoin it seems.However I'm not sure fi that analogy really fits. The Bitcoin Blockchain is more like a protocol while netscape (browser) and alta-vista (search engine) had been services.
However my gut feeling is the same like yours. I'm really really concerned at the moment that Bitcoin might not make it.If we don't progress and find consensus soon it can be over in a few short years I believe.
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September 11, 2015, 05:57:49 PM
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Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

Yes right now it's all about blockchain tech without Bitcoin it seems.However I'm not sure fi that analogy really fits. The Bitcoin Blockchain is more like a protocol while netscape (browser) and alta-vista (search engine) had been services.
However my gut feeling is the same like yours. I'm really really concerned at the moment that Bitcoin might not make it.If we don't progress and find consensus soon it can be over in a few short years I believe.

I'm also not convinced the user-base is growing either.  Almost anyone who has bought and held in the past year and a half has almost certainly lost money.  I feel like a lot of these people have cashed out and wont be back to lose more money.  I mean, most people have a at the very least heard of btc now, and there is just no additional interest (or real reason) or new buying going on
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September 11, 2015, 06:40:00 PM
Last edit: September 11, 2015, 06:50:13 PM by gentlemand
 #7


I mean, most people have a at the very least heard of btc now, and there is just no additional interest (or real reason) or new buying going on


It's naive to assume that if someone hears that word on the radio it's a failure if their Coinbase account isn't bulging within 12 hours.

The gap between hearing about something, understanding it and eventually using it is often a decade or two. I knew perfectly well what mobile phones and emails were but I didn't really feel the need to use them until several years later.



On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?


Why would it? It has precisely nothing to do with Bitcoin. The vast majority of these investments have nothing to with currency creation. They're all to do with creating slicker utilities for existing systems.

If I invented the wheel I wouldn't expect subsequent wheels to make my original one worth any more. I'd put my wheel to work. Bitcoin's future is in the hands of the people steering and using it. It's up to them to convince the rest of the world why they should make space for it in their lives. If it fails then the world will keep on turning and the knowledge it fostered will carry on elsewhere.
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September 11, 2015, 06:44:13 PM
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Bitcoin is open source so... blockchain is open source, they can take it al go away...
+blockchain != +$ on btc
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September 11, 2015, 08:03:27 PM
 #9

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
Fakhoury (OP)
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September 11, 2015, 08:36:36 PM
 #10

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
brg444
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September 11, 2015, 09:00:45 PM
 #11

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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September 11, 2015, 09:24:42 PM
 #12

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.


All what you said makes sense.

Why this will essentially create accessible ramps for capital to flow into Bitcoin ?

And another question please, your talking started about banks and bitcoin, why did you chose ? Why not mass adoption from the masses for example ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
brg444
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September 11, 2015, 09:40:20 PM
 #13

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.


All what you said makes sense.

Why this will essentially create accessible ramps for capital to flow into Bitcoin ?

And another question please, your talking started about banks and bitcoin, why did you chose ? Why not mass adoption from the masses for example ?

You need to understand current context. If you wanna buy Bitcoin right now you need to fund an account at Coinbase or other exchanges using traditional financial ramps. These are slow, sometimes expensive and not practical: they create a lot of friction for someone who'd like to invest into Bitcoin. Especially when considering important amounts (millions, billions).

Let's fast forward to five years from now: banks start looking a lot more like software companies. Adoption of the blockchain has eliminated a considerable amount of bureaucracy and general unproductive processes.

Imagine that using this newly developed infrastructure you are able to convert your fiat to BTC straight from your bank account and even withdraw it to a personal wallet.

This is just an example and doesn't go into details of how this would work for institutional investors but surely you can understand that once all financial systems are supported by blockchains then it gets much easier to move capital around. This is one of the issue with Bitcoin right now: the lack of on-ramps.

That's why you see the Winklevoss creating an exchange and an ETF: because we need better ways integrate Bitcoin with the existing financial system so that value can easily move in and move out.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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September 11, 2015, 09:45:30 PM
 #14

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.


All what you said makes sense.

Why this will essentially create accessible ramps for capital to flow into Bitcoin ?

And another question please, your talking started about banks and bitcoin, why did you chose ? Why not mass adoption from the masses for example ?

You need to understand current context. If you wanna buy Bitcoin right now you need to fund an account at Coinbase or other exchanges using traditional financial ramps. These are slow, sometimes expensive and not practical: they create a lot of friction for someone who'd like to invest into Bitcoin. Especially when considering important amounts (millions, billions).

Let's fast forward to five years from now: banks start looking a lot more like software companies. Adoption of the blockchain has eliminated a considerable amount of bureaucracy and general unproductive processes.

Imagine that using this newly developed infrastructure you are able to convert your fiat to BTC straight from your bank account and even withdraw it to a personal wallet.

This is just an example and doesn't go into details of how this would work for institutional investors but surely you can understand that once all financial systems are supported by blockchains then it gets much easier to move capital around. This is one of the issue with Bitcoin right now: the lack of on-ramps.

That's why you see the Winklevoss creating an exchange and an ETF: because we need better ways integrate Bitcoin with the existing financial system so that value can easily move in and move out.

Perfect.

Now I have question popped in my mind, why would investors invest in bitcoin ? Doesn't investing in blockchain technology makes more sense ?

In another words, why would bitcoin gather investors attention ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
brg444
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September 11, 2015, 09:54:29 PM
 #15

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.


All what you said makes sense.

Why this will essentially create accessible ramps for capital to flow into Bitcoin ?

And another question please, your talking started about banks and bitcoin, why did you chose ? Why not mass adoption from the masses for example ?

You need to understand current context. If you wanna buy Bitcoin right now you need to fund an account at Coinbase or other exchanges using traditional financial ramps. These are slow, sometimes expensive and not practical: they create a lot of friction for someone who'd like to invest into Bitcoin. Especially when considering important amounts (millions, billions).

Let's fast forward to five years from now: banks start looking a lot more like software companies. Adoption of the blockchain has eliminated a considerable amount of bureaucracy and general unproductive processes.

Imagine that using this newly developed infrastructure you are able to convert your fiat to BTC straight from your bank account and even withdraw it to a personal wallet.

This is just an example and doesn't go into details of how this would work for institutional investors but surely you can understand that once all financial systems are supported by blockchains then it gets much easier to move capital around. This is one of the issue with Bitcoin right now: the lack of on-ramps.

That's why you see the Winklevoss creating an exchange and an ETF: because we need better ways integrate Bitcoin with the existing financial system so that value can easily move in and move out.

Perfect.

Now I have question popped in my mind, why would investors invest in bitcoin ? Doesn't investing in blockchain technology makes more sense ?

In another words, why would bitcoin gather investors attention ?

Bitcoin has a different value proposition. While its technology and the models of payment system it introduced are interesting, the way they are currently implemented in Bitcoin is primitive and very basic (in relation with most recent progress in this area). What Bitcoin excels at is being a sound form of money. Think of it as digital gold. Gold was never valued for its industrial use. It maintained value throughout history as a store of wealth used to hedge against devalued government currencies.

In the same way, Bitcoin, as it is, offers unparalleled protection of one's wealth.

If increasingly more people start trusting Bitcoin to secure their money then it makes sense to invest in it at this early stage in its history. Cases like Cyprus and Greece are early indicators that the system is starting to collapse and shows that in these scenarios your money stored in banks is not secured from the hands of the governments of the world who, make no mistake, will reach for anything they can grab to keep themselves afloat once they start sinking.

I do expect that a whole ecosystem will be built on top Bitcoin and compete with some banks blockchains but we are not there yet.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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September 11, 2015, 10:12:01 PM
 #16

Hello,

In the past few days, I've came across a lot of news about some financial companies and organizations investing in bitcoin's blockchain.

The question now is, how will this affect bitcoin, specially the price ?

On the other hand, if the investment is in another blockchain, would this still benefit bitcoin ?

Thank you.

in my opinion, its the "beginning of the end" for btc.

I mean lots of companies are saying specifically that they are interested in, or developing similar blockchain software, but NONE have any interest in btc itself.

I see a lot of people comparing btc to the early internet, well it may be like the early internet, but probably more like "netscape" or "alta-vista" if you remember those.  Once powerful tools, now relics of the early internet.

This boils down to a common misconception of what Bitcoin's strength is: not the payment system

Bitcoin will be fine. It is digital gold, the scarcest & most secure crypto-commodity.

All these blockchain investements will create crypto-rails within the banking system that will allow for liquidity to more easily enter Bitcoin.

So yes, it does benefit Bitcoin.

How brg, I still can't get it, could you please break it down for me ?

How...?

The banking system will never adopt Bitcoin's low level protocol for their infrastructure for obvious engineering and strategical reasons. It isn't efficient, not very flexible, short on features and most importantly : not private.

It is entirely reasonable for them to find interest in and leverage the technology for their own use case. Their adoption of the blockchain technology will allow capital to flow around the system with much less friction.

This will essentially create accessible ramps for capital to flow into Bitcoin.


All what you said makes sense.

Why this will essentially create accessible ramps for capital to flow into Bitcoin ?

And another question please, your talking started about banks and bitcoin, why did you chose ? Why not mass adoption from the masses for example ?

You need to understand current context. If you wanna buy Bitcoin right now you need to fund an account at Coinbase or other exchanges using traditional financial ramps. These are slow, sometimes expensive and not practical: they create a lot of friction for someone who'd like to invest into Bitcoin. Especially when considering important amounts (millions, billions).

Let's fast forward to five years from now: banks start looking a lot more like software companies. Adoption of the blockchain has eliminated a considerable amount of bureaucracy and general unproductive processes.

Imagine that using this newly developed infrastructure you are able to convert your fiat to BTC straight from your bank account and even withdraw it to a personal wallet.

This is just an example and doesn't go into details of how this would work for institutional investors but surely you can understand that once all financial systems are supported by blockchains then it gets much easier to move capital around. This is one of the issue with Bitcoin right now: the lack of on-ramps.

That's why you see the Winklevoss creating an exchange and an ETF: because we need better ways integrate Bitcoin with the existing financial system so that value can easily move in and move out.

Perfect.

Now I have question popped in my mind, why would investors invest in bitcoin ? Doesn't investing in blockchain technology makes more sense ?

In another words, why would bitcoin gather investors attention ?

Bitcoin has a different value proposition. While its technology and the models of payment system it introduced are interesting, the way they are currently implemented in Bitcoin is primitive and very basic (in relation with most recent progress in this area). What Bitcoin excels at is being a sound form of money. Think of it as digital gold. Gold was never valued for its industrial use. It maintained value throughout history as a store of wealth used to hedge against devalued government currencies.

In the same way, Bitcoin, as it is, offers unparalleled protection of one's wealth.

If increasingly more people start trusting Bitcoin to secure their money then it makes sense to invest in it at this early stage in its history. Cases like Cyprus and Greece are early indicators that the system is starting to collapse and shows that in these scenarios your money stored in banks is not secured from the hands of the governments of the world who, make no mistake, will reach for anything they can grab to keep themselves afloat once they start sinking.

I do expect that a whole ecosystem will be built on top Bitcoin and compete with some banks blockchains but we are not there yet.


Thank you for watching the topic and keep on-track with me.

As you mentioned Gold and it's used as a store of wealth "agree with what you said about it", do you see Bitcoin as a store of wealth also ?

Can I say that investing in bitcoin's blockchain is investing in bitcoin but in "in-direct" way ? In other words, what benefits/harms bitcoin's blockchain also benefits/harms bitcoin itself ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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September 11, 2015, 10:26:58 PM
 #17

Thank you for watching the topic and keep on-track with me.

As you mentioned Gold and it's used as a store of wealth "agree with what you said about it", do you see Bitcoin as a store of wealth also ?

Can I say that investing in bitcoin's blockchain is investing in bitcoin but in "in-direct" way ? In other words, what benefits/harms bitcoin's blockchain also benefits/harms bitcoin itself ?

Bitcoin is a digital version and an improvement on gold on almost every aspects so yes Bitcoin is a store of wealth and arguably the best that's ever existed.

Investing in Bitcoin's blockchain is indeed an indirect investment in Bitcoin but also one that is a little more currency agnostic (it does not necessarily depends or is directly related to the success of Bitcoin).

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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September 11, 2015, 10:35:25 PM
 #18

Thank you for watching the topic and keep on-track with me.

As you mentioned Gold and it's used as a store of wealth "agree with what you said about it", do you see Bitcoin as a store of wealth also ?

Can I say that investing in bitcoin's blockchain is investing in bitcoin but in "in-direct" way ? In other words, what benefits/harms bitcoin's blockchain also benefits/harms bitcoin itself ?

Bitcoin is a digital version and an improvement on gold on almost every aspects so yes Bitcoin is a store of wealth and arguably the best that's ever existed.

Investing in Bitcoin's blockchain is indeed an indirect investment in Bitcoin but also one that is a little more currency agnostic (it does not necessarily depends or is directly related to the success of Bitcoin).

I see you are confident about bitcoin and this makes me happy Smiley

In 5 years till a decade from now, where you see bitcoin in terms of technology and price ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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September 11, 2015, 10:48:05 PM
 #19

Thank you for watching the topic and keep on-track with me.

As you mentioned Gold and it's used as a store of wealth "agree with what you said about it", do you see Bitcoin as a store of wealth also ?

Can I say that investing in bitcoin's blockchain is investing in bitcoin but in "in-direct" way ? In other words, what benefits/harms bitcoin's blockchain also benefits/harms bitcoin itself ?

Bitcoin is a digital version and an improvement on gold on almost every aspects so yes Bitcoin is a store of wealth and arguably the best that's ever existed.

Investing in Bitcoin's blockchain is indeed an indirect investment in Bitcoin but also one that is a little more currency agnostic (it does not necessarily depends or is directly related to the success of Bitcoin).

I see you are confident about bitcoin and this makes me happy Smiley

In 5 years till a decade from now, where you see bitcoin in terms of technology and price ?

I cannot say for sure but just so as to entertain our little circlejerk let me suggest that 5 years from now ONE Bitcoin should be out of the reach of a good majority of people living on this planet.

Just remember there are only 21,000,000. Gotta catch em all  Wink

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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September 11, 2015, 10:55:14 PM
 #20

Thank you for watching the topic and keep on-track with me.

As you mentioned Gold and it's used as a store of wealth "agree with what you said about it", do you see Bitcoin as a store of wealth also ?

Can I say that investing in bitcoin's blockchain is investing in bitcoin but in "in-direct" way ? In other words, what benefits/harms bitcoin's blockchain also benefits/harms bitcoin itself ?

Bitcoin is a digital version and an improvement on gold on almost every aspects so yes Bitcoin is a store of wealth and arguably the best that's ever existed.

Investing in Bitcoin's blockchain is indeed an indirect investment in Bitcoin but also one that is a little more currency agnostic (it does not necessarily depends or is directly related to the success of Bitcoin).

I see you are confident about bitcoin and this makes me happy Smiley

In 5 years till a decade from now, where you see bitcoin in terms of technology and price ?

I cannot say for sure but just so as to entertain our little circlejerk let me suggest that 5 years from now ONE Bitcoin should be out of the reach of a good majority of people living on this planet.

Just remember there are only 21,000,000. Gotta catch em all  Wink


I understand that you don't want to give an accurate answer, we are just speculating.

Could we reach in a decade from now to 6 figures, what do you think ?

Regarding the 21M cap, I've two question

1. Can this cap be altered in any means ?
2. I know we are talking here about scarcity, but remember that the future is for micropayments along with Internet of Things and as you know, bitcoin is much divisble, so how will the scarcity help here when few satoshies for example could buy you something you need which costs few dollars for example

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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