donbu7 (OP)
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December 09, 2013, 05:07:48 PM |
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Since all that has happened last week from china banning the btc, and greenspan saying that is a bubble, what is the scenario for the future of BTC is it dead or is it alive?
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Gab1159
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December 09, 2013, 05:25:10 PM |
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It was not a bitcoin ban at all... It's actually an endorsement, as they simply banned "financial institutions" from trading bitcoins. A month or so ago they made an exception to their law that bitcoin would become legal. In fact, all virtual currencies are automatically illegal in China, the simple fact they made an exception is enormous. I've also read about someone explaining how China was protecting its economy from a still fragile, volatile and "dangerous" technology. There is nothing preventing China to withdraw this new law once btc is more stable and more mainstream. It looks like a kind of protectionism to me... Also Greenspan...a non-factor. My short answer: Price wise: bitcoin going nowhere but UP UP UP on the long term, I've been saying the same thing for a year and a half now. There will be bumps in the road but really I don't think it's BS to say it's headed to the moon  How could we let go such a beautiful technology. Adoption is still increasing quite rapidly throughout the world. Just hold and profit  |
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donbu7 (OP)
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December 09, 2013, 05:44:01 PM |
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It was not a bitcoin ban at all... It's actually an endorsement, as they simply banned "financial institutions" from trading bitcoins. A month or so ago they made an exception to their law that bitcoin would become legal. In fact, all virtual currencies are automatically illegal in China, the simple fact they made an exception is enormous. I've also read about someone explaining how China was protecting its economy from a still fragile, volatile and "dangerous" technology. There is nothing preventing China to withdraw this new law once btc is more stable and more mainstream. It looks like a kind of protectionism to me... Also Greenspan...a non-factor. My short answer: Price wise: bitcoin going nowhere but UP UP UP on the long term, I've been saying the same thing for a year and a half now. There will be bumps in the road but really I don't think it's BS to say it's headed to the moon How could we let go such a beautiful technology. Adoption is still increasing quite rapidly throughout the world. Just hold and profit What about Badu.com that Stop Accepting Bitcoin? |
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hilariousandco
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December 09, 2013, 06:04:36 PM |
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Even if you argue bitcoin does go through bubbles, why does it matter? Cash out before it bursts and you've made a lot of money. Buy back when it's low and repeat process. Profit.
And no, Bitcoin isn't dead; it's just getting started.
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Gab1159
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December 10, 2013, 02:20:14 AM |
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It was not a bitcoin ban at all... It's actually an endorsement, as they simply banned "financial institutions" from trading bitcoins. A month or so ago they made an exception to their law that bitcoin would become legal. In fact, all virtual currencies are automatically illegal in China, the simple fact they made an exception is enormous. I've also read about someone explaining how China was protecting its economy from a still fragile, volatile and "dangerous" technology. There is nothing preventing China to withdraw this new law once btc is more stable and more mainstream. It looks like a kind of protectionism to me... Also Greenspan...a non-factor. My short answer: Price wise: bitcoin going nowhere but UP UP UP on the long term, I've been saying the same thing for a year and a half now. There will be bumps in the road but really I don't think it's BS to say it's headed to the moon How could we let go such a beautiful technology. Adoption is still increasing quite rapidly throughout the world. Just hold and profit What about Badu.com that Stop Accepting Bitcoin? Can't comment on that. There are too many scenarios to speculate on, even for me  I have to agree that, short-term wise, Baidu not accepting bitcoins anymore is a certain drawback! |
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hieroglyph
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December 11, 2013, 10:39:21 PM |
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Seems sort of like a silly question but hey I guess some might say there are no silly questions. Anyway I think the current price of Bitcoin is proof that Bitcoin is very much alive and kicking.
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techstorm2
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December 12, 2013, 10:55:03 AM |
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Looks to be very much alive to me, its the honey badger of currencies, however much negative press & FUD, it still bounces back.
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Dime 7Q3cZtyJemmE8pJsrYgX24mHnkqZX6M6hP
BTC 18vbvovBeM5ZTZqR5ZWAy75EXE7qTNipuo
Mooncoin 2QgyivUMa7Zun6oPdxeE1yry1aNp5hqrDb
LTC Lg3UYGCAe3Tb146PiMqeGNLR7bnjdM447d
Doge DPd1XejW8TabJu5gfjyKnuQYQ9Vzw1anXN
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Kenshin
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December 12, 2013, 11:01:56 AM |
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Since all that has happened last week from china banning the btc, and greenspan saying that is a bubble, what is the scenario for the future of BTC is it dead or is it alive?
It is still very much alive, you just need to see how many people are accepting it each day. The more people accept it, the most alive it is. |
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deisik
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December 12, 2013, 12:53:04 PM
Last edit: December 12, 2013, 05:09:10 PM by deisik |
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Since all that has happened last week from china banning the btc, and greenspan saying that is a bubble, what is the scenario for the future of BTC is it dead or is it alive?
Personally, I expected it fall below $500 after china "banning" bitcoin, but it seems that people do actually believe in its future (I have some reservations on this account) and prefer not to sell all those coins when the price turns down (no panic sell at least)... |
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donbu7 (OP)
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December 12, 2013, 04:51:35 PM |
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I do not know now, what to say it is a bet, it can be dead tomorrow or can go up as well.
I think for conservative people it is time to cash out, anf for people who like to risk go ahead.
But my preddiction is that since BTC has been ban from Chine, Baidu, Greenspan saying that is a bubble, and not to many webpage accepting it neither retail stores, the dead of BTC is more probable that to keep alive.
RIP BTC
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Desensitizer
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December 12, 2013, 04:55:36 PM |
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You are looking at a very microscopic part of bitcoins timeline. Overall, in the past month bitcoin has seen some of its biggest advances. New competitive exchanges are opening up, the value is the highest its been stable, more and more on and offline stores are accepting bitcoins, and more and more major newpapers and financial institutions are warming up to the bitcoin idea. Things are actually looking pretty good.
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guybrushthreepwood
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December 12, 2013, 05:03:43 PM |
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How can it be dead when people are currently paying nearly $900 for it.
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Sindelar1938
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December 12, 2013, 05:27:17 PM |
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The future of btc is live and well
Keep the faith
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