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xypos
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June 08, 2017, 07:44:08 AM |
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Bitcoin is a crypto-asset. It will never depreciate greatly in value in the long run, in fact its algorithm is set to appreciate as time goes on. This is different as to how fiat works. One decision from our president and the whole thing can blow up. M3 will probably increase to more than 500 trillion by the end of the next decade, which is a 6 time increase. Now bitcoin will only inflate by around 1.1-1.2x by the time 2030 comes, which means that crypto will thereotically rise by around 5x, to more than $12000. |
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Bluengold341
Member
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Activity: 84
Merit: 10
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June 08, 2017, 08:23:03 AM |
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Bitcoin is a crypto-asset. It will never depreciate greatly in value in the long run, in fact its algorithm is set to appreciate as time goes on. This is different as to how fiat works. One decision from our president and the whole thing can blow up. M3 will probably increase to more than 500 trillion by the end of the next decade, which is a 6 time increase. Now bitcoin will only inflate by around 1.1-1.2x by the time 2030 comes, which means that crypto will thereotically rise by around 5x, to more than $12000. I think whalingoutbox is comparing what we're seeing now with the rise of bitcoin to exponential growth patterns seen in experiential learning, meaning it might never stop until all of humanity is using or able to use bitcoin. |
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deisik
Legendary
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Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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June 08, 2017, 08:31:47 AM |
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52  This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee  . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. The transaction fee at those rates would kill bitcoins price before it could ever reach that high. What you don't realize is that as bitcoin has increased in value the number of people holding bitcoin has also increased but the average wallet size has shrunk. If your life savings are worth 10k USD you aren't going to have much use if it costs 30k USD to send it to someone It is dubious that the price will ever get there (with or without fees) But just like the transaction fees are going to kill Bitcoin halfway, the transaction fees themselves will likely be made entirely irrelevant for the transactions of these "small" amounts before they get to the point of killing Bitcoin. Indeed, if you are going to transfer a few hundred million dollars of Bitcoin, such fees may still be "not high" (in relative terms, of course), but a lot of ways will undoubtedly emerge to transact with bitcoins without using the blockchain (i.e. without having to pay insane fees). It is just a matter of time and price itself, and I'm not sure about the former |
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chocolah29
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June 09, 2017, 12:25:09 PM |
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52 This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. Agreed that paying a fees worth 30k wouldn't really mind anyone at all , but younare surely making a mistake here , if bitcoin reaches it's max cap and price that means there is no way people can mine more coins and nor the price would increase anymore so just imagine why would someone 30k for a coin which is at it's max and the price will surely not increase. Bitcoin will just become like most of the alts who have value but no demand at all You're absolutely right. If the supply will increase like that the value will deflate. Even if bitcoin become $80.9 trillion but it will doesn't matter after all. Just like now in our currency. $1000 now is like $100 before. |
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iluvpie60
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June 09, 2017, 02:06:37 PM |
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52 This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. That .0008 fee would go down by a lot. It wouldnt stay there if btc was worth that much. Also if btc were worth 38million that means everyone is using it, so youncouldnt have a .0008 transaction fee. See what i am saying? If everyone was using it there would many many more transactions with a smaller fee. |
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bitcoinvestor
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June 09, 2017, 03:18:42 PM |
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52 This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. I just ask " When will it take place?" That time I am going to be a millionare. I can invest in offline business in car wash may be or run a restaurant. That's not matter with transaction fee. I think all bitcoin holders soon become new economic players in the world. Not only in rich country, in poor country the bitcoin holder can give benefit to more people by creating job opportunities with their capital. That's a good news for me. |
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bouren
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June 09, 2017, 03:47:10 PM |
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52 This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. That .0008 fee would go down by a lot. It wouldnt stay there if btc was worth that much. Also if btc were worth 38million that means everyone is using it, so youncouldnt have a .0008 transaction fee. See what i am saying? If everyone was using it there would many many more transactions with a smaller fee. Don't expect that price will determine flow of bitcoin around the world or that bitcoin will be used by everyone especially at 38 millions dollar. Rather it would lead to concentration of BTC in few hands who would use it as precious commodity and it's use will get restricted to store of value just as gold does. There was a time when gold was used as money if BTC will not able to increase its utility and it's development gets restricted to price, believe me 'bitcoin as money' will also become past. |
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boruto99
Newbie
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Activity: 46
Merit: 0
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January 23, 2018, 05:12:29 PM |
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you are the next warren buffet. very simple invest bitcoin 1. buy bitcoin as you can buy it 2. Hold for 10 year 3. retire young. |
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Hell-raiser
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January 23, 2018, 06:19:33 PM |
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Bitcoin is a crypto-asset. It will never depreciate greatly in value in the long run, in fact its algorithm is set to appreciate as time goes on. This is different as to how fiat works. One decision from our president and the whole thing can blow up. But isn't the same equally true with respect to cryptocurrencies? I don't know whom you refer to here by "our president", but if you mean Donald Trump, he can definitely blow things up with both Bitcoin and American dollar, or just blow everything up. Though, to tell the truth, it remains to be seen with which of the two currencies he would be more successful. I mean if he tried to kill the dollar, he might well end up killed himself. But this certainly wouldn't be the case with Bitcoin. In fact, this is what he may be up to right now. |
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