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Question: Will the price of bitcoin increase
Yes, will increase
May increase
No, price will decrease
May decrease
No idea

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Author Topic: Will bitcoin trap more new user in coming years  (Read 3047 times)
Silberman
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February 13, 2017, 10:22:09 PM
 #61

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?



What I meant (as others pointed out) was that they surely can make it illegal locally. But you can still invest in bitcoin - for illegal and/or international purposes.

Bangladesh banned bitcoin - will they ban goods send through Amazon bought with bitcoin?
Just an example. Ofcourse can they make it difficult for local people, but that's not going to happen globally.
Yes if you use purse.io there is no way your country of residence knows that your item was bought with bitcoin because not even amazon knows, since third party is the one buying with an amazon gift card and you are using another party to give to them your bitcoins.
Lucentar
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February 14, 2017, 04:18:52 AM
 #62

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?
Yup, definitely it will attract more and more people, investors and organizations into it regardless the price of 1 bitcoin.
RoommateAgreement
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February 14, 2017, 04:35:15 AM
 #63

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?
Yup, definitely it will attract more and more people, investors and organizations into it regardless the price of 1 bitcoin.

what do you mean by organization?
things are all about adoption, and it is increasing every day. so it means more individuals are investing in bitcoin and becoming (share) holders of this very limited supply currency.
then there will be services and big businesses coming in offering their services in exchange for bitcoin. like what steam did.

Buying the dip...
JL421
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February 19, 2017, 07:34:45 AM
 #64

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?
Yes definitely it will if you see the main direct rival of bitcoin is china. I don't about the Chinese as most of them seem so scared when they invest so when they hear so weird thing that it is risky they sell it. But around the world many countries are supporting bitcoins as I saw a news that dubai is investing in blockchain technology and more and more online businesses are adding bitcoin as payment method because of this more people can will be aware od bitcoins and slowly it will keep increasing.
Seansky
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February 19, 2017, 08:02:00 AM
 #65

Bitcoin as we all know will attract more users in the coming years even if government plans to go against it. Someday though I really do hope that government will accept bitcoin and make it a legal way to pay someone , like what credit card serves to many now. Many more users will be attracted to it if government accepted it I think and if they go against it, it's price might rise but there will be lesser people that will be attracted to it.
whizter
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February 20, 2017, 06:32:57 PM
 #66

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?
Yes definitely it will if you see the main direct rival of bitcoin is china. I don't about the Chinese as most of them seem so scared when they invest so when they hear so weird thing that it is risky they sell it. But around the world many countries are supporting bitcoins as I saw a news that dubai is investing in blockchain technology and more and more online businesses are adding bitcoin as payment method because of this more people can will be aware od bitcoins and slowly it will keep increasing.
i think "trap" is not suitable word to be use for bitcoin. to me i think bitcoin will attract more and more uses to invest their money here, in fact bitcoin giving suc opportunities to its users to make more and more money .

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yugo23
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February 20, 2017, 06:54:59 PM
 #67

That's a good question!
Logic would say that yes because there is no reason for the number of btc users to decrease: no one using btc will stop using it as it's freaking special and useful
But I'd say there will be a real decrease on adoption rate!
Simply because btc first touched the most "geeky" part of the population which is also the easiest to convince about cryptos!
lionheart78
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February 20, 2017, 07:53:47 PM
 #68

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?

I do not see government and agencies coming against Bitcoin because if they do, they had trackdown all nodes and shutdown any possible bitcoin operation like mining farm or store that accept bitcoin.  Government might be trying to regulate Bitcoin exchanges but there is no way this government is preventing people from mining or doing transaction with Bitcoin.  As for the adopters, it will always have new comers especially governments all over the world  are starting to recognize Bitcoin as legal tender or payment  one by one.
dinofelis
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February 21, 2017, 02:38:13 PM
 #69

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?

I do not see government and agencies coming against Bitcoin because if they do, they had trackdown all nodes and shutdown any possible bitcoin operation like mining farm or store that accept bitcoin.

Governments will become the biggest holders of bitcoin, and manipulate it like they do with gold.  A central bank can buy bitcoin or gold at ANY price: they print the money for it, buy it, and consider that they have printed only that amount of money they have an underlying asset against: the coins themselves.  Exactly as they do with gold.  Bitcoin will become the central banker's pump of value from "bitcoin investors" into their hands, exactly as they do with gold.
Moreover, with bitcoin, they know exactly where the coins are and can follow all transactions.

I wouldn't be surprised if the Chinese government is actually taking in most of the chinese exchange's wallets.  That's a big amount of bitcoin they'd offer themselves. 
royalfestus
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February 21, 2017, 06:40:52 PM
Last edit: February 21, 2017, 07:19:04 PM by royalfestus
 #70

Bitcoin as we all know will attract more users in the coming years even if government plans to go against it. Someday though I really do hope that government will accept bitcoin and make it a legal way to pay someone , like what credit card serves to many now. Many more users will be attracted to it if government accepted it I think and if they go against it, it's price might rise but there will be lesser people that will be attracted to it.
Any time government mentions bitcoin they indirectly get to inform the citizen. Actually I dont care if the govt gets that involve but how she plan to engage it. Starting with payment as salary to workers and encourage stores to accept it but every transaction fee and delay in delivery will discourage people. Except a reliable altcoin can be used.
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