UPDATE

[kaselit]

UPDATE

[RustyNomad]

Hi, can the evolution of BTC (like protocol, forking, etc..) be a problem for who owns BTC? I mean, solve the huge block-chain, change crypto algoritm or something like that can make u poor?

(i imagine developers look for compatibility, but ask is not bad).

Your guess is about as good as mine. There are so many things that could happen that could sink bitcoin but there are also just as many things that could happen that could boost bitcoin up to the level where its so to say on par with other legal tender.

Bitcoin at this stage is essentially still in a trial phase in my opinion and only time will tell. Personally I will not invest more into bitcoin that what I'm willing to lose meaning that I will invest but I will not go 'all in'. There are still just too many uncertainties and there are no guarantees.

So yes its more than possible that you could lose everything but you could also make a killing. As said, only time will tell.

[dothebeats]

Depends whether the evolution you're talking about is for the good or for the bad. If a major security loophole is found in the protocol and no immediate fix is implemented, then you know what happens after that.

[Mickeyb]

Hi, can the evolution of BTC (like protocol, forking, etc..) be a problem for who owns BTC? I mean, solve the huge block-chain, change crypto algoritm or something like that can make u poor?

(i imagine developers look for compatibility, but ask is not bad).

Of course it can mate! Every decision that is made by the devs will influence all of the stakeholders. If it turns out to be a bad decision we might suffer, if it turns out to be a good decision, price will reflect this and we might profit.

Bitcoin is still in beta, you know what this means, don't you? It means that this is still one huge experiment and we don't know how this will end. We can only hope this will end well.

And yes, don't invest more than you can afford to lose. This can't be repeated enough!

[harrymmmm]

Depends whether the evolution you're talking about is for the good or for the bad. If a major security loophole is found in the protocol and no immediate fix is implemented, then you know what happens after that.

I know what happens for me. The price drops as people panic sell, i buy lots of bitcoin, the protocol problem gets fixed much quicker then the trolls were saying, the price goes back up and continues to rise, i'm richer.

[harrymmmm]

Depends whether the evolution you're talking about is for the good or for the bad. If a major security loophole is found in the protocol and no immediate fix is implemented, then you know what happens after that.

I know what happens for me. The price drops as people panic sell, i buy lots of bitcoin, the protocol problem gets fixed much quicker then the trolls were saying, the price goes back up and continues to rise, i'm richer.

Media and blog panic can be considered the first speculative tool?

Definitely. I'm surprised you even ask that question.
Hint: it works pretty well when the medium is a main stream news outlet as well.

[harrymmmm]

LOL. When will new value drop happen for your prevision?

PS: I don't think BTC will go under 200$ again

Haha. What I described was not only a future vision. For me, it was also history.
It describes exactly what happened to me in April, 2013.
I just wish I had had the same confidence I have now. i'd be much richer.

[gentlemand]

Of course there's a risk. The developers themselves have repeatedly stressed that it's still an experiment. No one knows where this is all headed. There might be a future technical flaw that's yet to be uncovered or some outside element such as a new way to crack encryption that might render it worthless. That's the risk everyone's taking.

[Q7]

At this stage, I would say there are still uncertainties. In fact nothing in this world is forever firmed or guaranteed and for bitcoin, there is no exception. But looking at it and the progress it has made over the years, there is a high possibility things are moving towards the positive side. In fact, the risk will always be there

[crazyivan]

The only real risk I see if the owner loses access to their wallet, lost password, no backup copy of the wallet or gets hacked. Always make sure to protect your investments.

[AtheistAKASaneBrain]

Nope, Bitcoin will never fail. At this point is just past the initial stages of doubt. Right now if you don't own any Bitcoins, the only possible stage is either doubt, or being bitter because you lost money with it in the past (probably on the last bubble). Long term Bitcoins holder will rule the next decade. The Rothchilds will be deprecated by the big Bitcoin holders.

[Amph]

Nope, Bitcoin will never fail. At this point is just past the initial stages of doubt. Right now if you don't own any Bitcoins, the only possible stage is either doubt, or being bitter because you lost money with it in the past (probably on the last bubble). Long term Bitcoins holder will rule the next decade. The Rothchilds will be deprecated by the big Bitcoin holders.

How many BTC you must hold to rule next decade??

10 should suffice, if you expect a 100k price, 100 would be ideal for me, more feasible to wait 10k price

10k-100k range is a tough call, i'm not believing it for a very long time, and i don't want to wait 30 years for it...

[thejaytiesto]

Nope, Bitcoin will never fail. At this point is just past the initial stages of doubt. Right now if you don't own any Bitcoins, the only possible stage is either doubt, or being bitter because you lost money with it in the past (probably on the last bubble). Long term Bitcoins holder will rule the next decade. The Rothchilds will be deprecated by the big Bitcoin holders.

How many BTC you must hold to rule next decade??

10 should suffice, if you expect a 100k price, 100 would be ideal for me, more feasible to wait 10k price

10k-100k range is a tough call, i'm not believing it for a very long time, and i don't want to wait 30 years for it...

True, but owning 100 BTC is unrealistic for the average citizen. I presume that there is not going to be enough time of a low enough price that it allows the average working person to stack up 100 BTC, considering that even buying 1 BTC monthly is rare when most people don't have many savings at the end of the month. You would need 100 months. Thats too many years, the price will go higher.

[Pab]

Hi, can the evolution of BTC (like protocol, forking, etc..) be a problem for who owns BTC? I mean, solve the huge block-chain, change crypto algoritm or something like that can make u poor?

(i imagine developers look for compatibility, but ask is not bad).

Your guess is about as good as mine. There are so many things that could happen that could sink bitcoin but there are also just as many things that could happen that could boost bitcoin up to the level where its so to say on par with other legal tender.

Bitcoin at this stage is essentially still in a trial phase in my opinion and only time will tell. Personally I will not invest more into bitcoin that what I'm willing to lose meaning that I will invest but I will not go 'all in'. There are still just too many uncertainties and there are no guarantees.

So yes its more than possible that you could lose everything but you could also make a killing. As said, only time will tell.

Very good post,i think exactly the same

[maokoto]

Due to the potential for profit of Bitcoin, there are risks.

I think you cannot have profit potential without risks. Although you can certainly have risk without any potential benefit.

Fork can happen and people lose interest, there can be a massive government banning and people lose interest, there can be a error somewhere and people generating coins easily, destroying the coin, or there can even be other inventions and make bitcoin obsolete (as many pretend Bitcoin will do with money).

But also, all can go ok. and there it is. The potential.

[Blue_Tiger73]

I doubt that Bitcoin will come to its down fall in the near future. Even though there are more and more full blocks that are taking more and more time to process, Bitcoin will find a way to fix it. They made a revolutionary technology, the first cryptocurrency, they will definitely find a way to fix this problem. The network is improving and technology is improving, the process will get faster and even more transactions will be processed per day.

These is my opinion and prediction about the future of bitcoin. If you do not like what I have to say, please keep your hate to yourself.

[Amph]

Nope, Bitcoin will never fail. At this point is just past the initial stages of doubt. Right now if you don't own any Bitcoins, the only possible stage is either doubt, or being bitter because you lost money with it in the past (probably on the last bubble). Long term Bitcoins holder will rule the next decade. The Rothchilds will be deprecated by the big Bitcoin holders.

How many BTC you must hold to rule next decade??

10 should suffice, if you expect a 100k price, 100 would be ideal for me, more feasible to wait 10k price

10k-100k range is a tough call, i'm not believing it for a very long time, and i don't want to wait 30 years for it...

True, but owning 100 BTC is unrealistic for the average citizen. I presume that there is not going to be enough time of a low enough price that it allows the average working person to stack up 100 BTC, considering that even buying 1 BTC monthly is rare when most people don't have many savings at the end of the month. You would need 100 months. Thats too many years, the price will go higher.

So, what is your value prevision?

10k is attainable, 1k was reached like nothing, 10x that is not so crazy to think

your problem may arise if bitcoin become big, if something bad happen, like a fatal flaw to bitcoin, when the price is high enough and adoption the same, it could be a disaster

remember that nothing is 100% secure, bank have the same problem if the whole government of a nation bankrupt, like for greece, this sitution is very akin

i guess bitcoin can go "bankrupt" too...