[2014-10-21] CD: Why 2016 Will Be The Year of Bitcoin 2.0

Yeezus

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Quote from: BootstrapCoinDev on October 25, 2014, 06:12:05 PM

Quote from: chennan on October 22, 2014, 01:28:56 AM

I believe it. The final winners is who can hold to the last second!

People need to realize that holding 1 BTC isn't going to make them rich. Hell, if Bitcoin could maintain a $1,000 price by 2016 that would be a huge accomplishment. You guys are expecting ridiculous growth without any justification. The average United States citizen has very little use for Bitcoin at the moment. Unless you're looking to launder money (cash is still better for this) / sell drugs / move wealth across borders, there's very little reason to use Bitcoin.

What amount do you think will make them rich, then? I don't think 1btc will make anyone a millionaire, but who knows what bitcoin could be worth in the future, especially if we get the best case scenario of even semi-mainstream adoption and the ability to spend the currency in many places all over the world.

kjlimo

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Quote from: Mudd on October 23, 2014, 06:40:48 AM

Quote from: kjlimo on October 23, 2014, 06:15:10 AM

Quote from: yatsey87 on October 23, 2014, 05:46:33 AM

In theory it should push the price up but you never can tell with btc. I'm planning to hold onto my btc for a few years anyway so hopefully they will have risen considerably before then, but most importantly I'm looking for massive merchant adoption as well because I'd really like to spend them on things I want or need as opposed to just cash them out.

What theory to people keep looking at?

Simple supply and demand probably. The less coins the rarer they will become (theoretically) so the price should rise too (theoretically of course).

Right, supply continues to go up, not down...

gogxmagog

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Ad maiora!

Quote from: BootstrapCoinDev on October 25, 2014, 06:12:05 PM

Quote from: chennan on October 22, 2014, 01:28:56 AM

I believe it. The final winners is who can hold to the last second!

People need to realize that holding 1 BTC isn't going to make them rich. Hell, if Bitcoin could maintain a $1,000 price by 2016 that would be a huge accomplishment. You guys are expecting ridiculous growth without any justification. The average United States citizen has very little use for Bitcoin at the moment. Unless you're looking to launder money (cash is still better for this) / sell drugs / move wealth across borders, there's very little reason to use Bitcoin.

yup, these forums are full of dreamers. Get rich quick schemes will always appeal to the dim and lazy, and with bitcoin's ridiculous performance 2012-2014 there were a few hundred thousand suckers born all at once.

10 000 btc? call me in 20 years. of course by then 10 000$ will have the purchasing power of about 390$

BootstrapCoinDev

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Quote from: chennan on October 22, 2014, 01:28:56 AM

I believe it. The final winners is who can hold to the last second!

People need to realize that holding 1 BTC isn't going to make them rich. Hell, if Bitcoin could maintain a $1,000 price by 2016 that would be a huge accomplishment. You guys are expecting ridiculous growth without any justification. The average United States citizen has very little use for Bitcoin at the moment. Unless you're looking to launder money (cash is still better for this) / sell drugs / move wealth across borders, there's very little reason to use Bitcoin.

Mudd

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Quote from: kjlimo on October 23, 2014, 06:15:10 AM

Quote from: yatsey87 on October 23, 2014, 05:46:33 AM

In theory it should push the price up but you never can tell with btc. I'm planning to hold onto my btc for a few years anyway so hopefully they will have risen considerably before then, but most importantly I'm looking for massive merchant adoption as well because I'd really like to spend them on things I want or need as opposed to just cash them out.

What theory to people keep looking at?

Simple supply and demand probably. The less coins the rarer they will become (theoretically) so the price should rise too (theoretically of course).

kjlimo

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Activity: 2114

Merit: 1031

Quote from: yatsey87 on October 23, 2014, 05:46:33 AM

In theory it should push the price up but you never can tell with btc. I'm planning to hold onto my btc for a few years anyway so hopefully they will have risen considerably before then, but most importantly I'm looking for massive merchant adoption as well because I'd really like to spend them on things I want or need as opposed to just cash them out.

What theory to people keep looking at?

It's a known fact that the mining reward will cut in half in 2016... that should already be baked into the price of a bitcoin. Why people wouldn't take into account known facts for pricing something seems dumb to me (economically).

Quote from: botany on October 21, 2014, 08:12:08 PM

Why 2016 Will Be The Year of Bitcoin 2.0

Anyone with 5th-grade levels of economic understanding will agree that when you cut production or availability of an asset in half going forward, the economic value of that asset must go up in the future, if all other things remain equal.....

Good to know I'm trading against 5th graders... explains why it's so easy!

yatsey87

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In theory it should push the price up but you never can tell with btc. I'm planning to hold onto my btc for a few years anyway so hopefully they will have risen considerably before then, but most importantly I'm looking for massive merchant adoption as well because I'd really like to spend them on things I want or need as opposed to just cash them out.

bitbouillion

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Quote from: lyth0s on October 22, 2014, 04:35:17 AM

This specific directive actually makes sure that EU's bank shareholders and creditors take the first hit in the case of a bank collapse. Then people with over 100,000 euro in their accounts will be hit, but is stated that depositors lower than 100,000 euro won't be affected. I'm not saying that the government or banks should ever be able to take your money like this. But it is very similar to the US FDIC of $250,000. Basically your money is only safe in banks if it is less than $250,000, if you have more cash in a bank than that and the bank goes under so does all of your funds over that $250,000 mark.

The EU directive for bail-ins and the deposit insurance are two separate things. The deposit insurance in case of a BANKRUPTCY of a financial institution in the EU is similar to the FDIC in the US and is already in place (100,000 Euro coverage). In contrast, the "bail-in directive" is a measure in which the share holders, bond holders and the deposits over 100,000 take a hit in order to PREVENT a BANKRUPTCY of the bank. In other words, a bankruptcy of a bank is impossible, because the owners and customers can be forced to bail out the bank before it is going to get into trouble.

botany

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Quote from: Wekkel on October 22, 2014, 08:28:01 AM

On the 26th, results of the ECB stress tests will be out. I wonder what will happen with the banks that fail.

The US stress tests were a total farce. Grin

Wekkel

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yes

On the 26th, results of the ECB stress tests will be out. I wonder what will happen with the banks that fail.

lyth0s

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World Class Cryptonaire

This specific directive actually makes sure that EU's bank shareholders and creditors take the first hit in the case of a bank collapse. Then people with over 100,000 euro in their accounts will be hit, but is stated that depositors lower than 100,000 euro won't be affected. I'm not saying that the government or banks should ever be able to take your money like this. But it is very similar to the US FDIC of $250,000. Basically your money is only safe in banks if it is less than $250,000, if you have more cash in a bank than that and the bank goes under so does all of your funds over that $250,000 mark.

Moonpig

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Quote from: botany on October 21, 2014, 08:12:08 PM

The first sign up ahead that will be a boon is the halving of Bitcoin production is 2016. Anyone with 5th-grade levels of economic understanding will agree that when you cut production or availability of an asset in half going forward, the economic value of that asset must go up in the future, if all other things remain equal.....

This is exactly why I'm holding my coins until after the halving. I think giving it a year or so is a good idea, though bitcoin is so unpredictable you never know what's going to happen.

Biitcoin

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Zichain

Does it mean that the price will rise ? Shocked

and we will get rich ? or little bit

chennan

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I believe it. The final winners is who can hold to the last second!

botany

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Why 2016 Will Be The Year of Bitcoin 2.0

https://www.cryptocoinsnews.com/2016-will-be-the-year-of-bitcoin-2-0/

The first sign up ahead that will be a boon is the halving of Bitcoin production is 2016. Anyone with 5th-grade levels of economic understanding will agree that when you cut production or availability of an asset in half going forward, the economic value of that asset must go up in the future, if all other things remain equal.....

Now look towards 2016. The E.U. and its corrupt/insufficient economic policies have been so ineffective that they have let it be known that a massive “bail-in”, call it “E.U. Bail-In 2.0″ is coming for January 2016. How it will work is any deposit over 100,000 Euros will be absorbed by the bank

The article seems to be about price movements in 216, rather than any new technology.

Topic: [2014-10-21] CD: Why 2016 Will Be The Year of Bitcoin 2.0 (Read 1925 times)