This is a watershed moment in bitcoin history

[pphan]

We watched Bitcoin grow from nothing to 4.8 billion market cap today.

Over the years there is always the fear that bitcoin will be banned and it's
value will go to zero. I believe that this speech by the prime minister of
singapore is a watershed moment when no other significant government
will ever ban bitcoin.

The risk of losing out on an emerging industry that is creating value and jobs
is all too real.

http://bitcoinandtheblockchain.blogspot.co.nz/2015/11/significance-of-lee-sian-loongs-speech.html

[ajareselde]

The risk of losing out on bitcoin is zero. Noone can shut it down, or delete it. On the other hand, risk of spreading FUD is real however.
Sensational journalism is currently bitcoin's no1 problem, i would say.

[jaberwock]

Even if Bitcoin goes to 0 or close to it, it won't happens overnight, so you will have plenty of time to jump off the boat or adapt to the new situation.

And he is not the only one speaking against BTC while BTC grows bigger and bigger

[cjmoles]

Nope, I don't think Bitcoin can be stopped.  It will always have a place on the black market as long as people still accept it in trade.  Even if some countries place bans or restrictions on the technology, that will only increase it's value because it will become harder to get for some.

[Possum577]

Even if Bitcoin goes to 0 or close to it, it won't happens overnight, so you will have plenty of time to jump off the boat or adapt to the new situation.

And he is not the only one speaking against BTC while BTC grows bigger and bigger

The real question is whether you or I or anyone would recognize that the decline was the end rather than just a pull back and opportunity to buy more at a cheaper price. It's tough when you're in the moment, emotion will take hold and impact decision making.

It's best to know at what point you'd sell out - $200? $100? $50? At what point do you sell all? It's an easy question to answer it's a tough to follow through on.

[mkc]

If bitcoin can grow to 300 billion, like face book.
Then each coin will worth 10K?

[CoinBateman]

Its strange really but the one thing holding bitcoin back is exactly its strength. The Anonymity really stops big players from coming in and taking it up to facebook levels of market cap.

[~Bitcoin~]

Bitcoin can't be shut down as it is store in multiple computers as public ledger. But if bitcoin loss its charm its value can go to the worst which i don't think will happen in near future as bitcoin is being accepted widely recently and in media for several times.

[dloghwak]

The risk of losing out on bitcoin is zero. Noone can shut it down, or delete it. On the other hand, risk of spreading FUD is real however.
Sensational journalism is currently bitcoin's no1 problem, i would say.

Actually there is quite a huge risk of losing out on Bitcoin. Bitcoin may never go down to zero again but I can imagine lower double digits, if there is just no further user adoption or maybe another tech, altcoin takes over.
Even things like Google Wallet, Apple Wallet or Paypal might be enough for the normal person to consume or to transact money.
Bitcoin is a risky bet, but with a potential high reward.

[NorrisK]

The risk of losing out on bitcoin is zero. Noone can shut it down, or delete it. On the other hand, risk of spreading FUD is real however.
Sensational journalism is currently bitcoin's no1 problem, i would say.

Actually there is quite a huge risk of losing out on Bitcoin. Bitcoin may never go down to zero again but I can imagine lower double digits, if there is just no further user adoption or maybe another tech, altcoin takes over.
Even things like Google Wallet, Apple Wallet or Paypal might be enough for the normal person to consume or to transact money.
Bitcoin is a risky bet, but with a potential high reward.

Agreed, it is still a high risk investment. Even though it seems to be gaining traction, it can be hurt in a quick and relentless moment.

It does seem to become less risky by every day that passes though, with more and more infrastructure and services being build on top of it.

[pogress]

Its strange really but the one thing holding bitcoin back is exactly its strength. The Anonymity really stops big players from coming in and taking it up to facebook levels of market cap.

Bitcoin anonymity might be perception but definitively not reality. Bitcoin is first currency with public ledger, which means everyone can analyze every Bitcoin transaction - nothing is hidden.

[foxkyu]

If bitcoin can grow to 300 billion, like face book.
Then each coin will worth 10K?

It's not simple like that. Mostly, when bitcoin pump altcoin will follow with panic dump.

Then stable again before breakout. Every coin have different spec and innovation, so it can't generally will be worth 10k.

[maokoto]

It is very good to hear news as that one. I do not think Bitcoin will easily go to zero either. It is unlikely that it ever will, but still I do not throw away the possibility completely. Almost everything is possible.

[Brad Pitt]

We watched Bitcoin grow from nothing to 4.8 billion market cap today.

Over the years there is always the fear that bitcoin will be banned and it's
value will go to zero.

Even if every gov on the earth banned it it's value wouldn't go to zero. It would possibly even rise because it will still have use on the black market and that's one thing that bitcoin will always have regardless of mainstream adoption.

If bitcoin can grow to 300 billion, like face book.
Then each coin will worth 10K?

Nobody can tell you the value of bitcoin in the future. It's all down to supply and demmand.

[Amph]

bitcoin is still tiny, it count nothing liek a drop in the water, we were at 4B market cap before, going 5B it's like have done nothing

we need to take a farther serious step and move on the 10-50B range for the market cap and then the 50b-100B one, it is still to damn niche as it is right now

[AndySt]

Something I can agree with the author that at the moment there is a watershed moment. The other issue is that the watershed moment for some reason happens every year and no end in sight

[Kprawn]

Its strange really but the one thing holding bitcoin back is exactly its strength. The Anonymity really stops big players from coming in and taking it up to facebook levels of market cap.

The anonymity is a myth... the majority of Bitcoiners today, work through some kind of payment processor or exchange and these entities kill all pseudo anonymity Bitcoin might

have had. Once you work through these channels, your privacy is gone and anonymity is a thing of the past. Only a few people know how to stay anonymous to a degree, and

those people do not share this information for obvious reasons. The governments needs the jobs and they also enjoy the tax being generated from Bitcoin use.. I doubt that they

would ban it for no good reason. 

[AtheistAKASaneBrain]

There are way more chances of us hitting 1 million dollars per coin than we have seeing Bitcoin go to 0. I would say around 80% of it going to 1MM vs 20% of it going to 0. The fact that governments may or not ban it is irrelevant... we have seen this all before. If they dont ban it then we reach mainstream status, if they ban it Bitcoin becomes an underground worldwide hit, both scenarios would make current holders rich as hell.

[Bitcoinpro]

Fate  is what u make and Mr Lee has made his fate, disrespecting Great Pilots and Great Australians, Great Americans and side stepping his duty of care for Australian and US citizens not to mention all foreign citizens and Bitcoins founding members is a disgraceful act and until he owns up to his grave mistakes how can anybody show him or Singapore any respect!

[thejaytiesto]

Remember all those times that Putin scared people saying they would go to jail with Bitcoin.. well look at the rubble volume in localbitcoins and you will see how useless it is for governments to try to ban it. The volume of transactions has only keep growing after all those years and specially after 2014 the volume increased alot.