Topic: A Noobs thoughts on BTC - page 3. (Read 3058 times)
Fiat will never disappear, bitcoin can only act as sub currency and because it is decentralised then the price will never be stable, but we can get profit by this situation, the one that I agree is we need wider usage, we need a lot of user so bitcoin can develop further and we can't predict too far but for 2 or 3 years in front, I predict it's still profitable to invest in bitcoin
When it comes to bubbles and votality Bitcoin is probably the best in the game
Bitcoin crypto currency has experienced countless ups and down.
But still it survive and has been soaring up until now it may face many obstacles right now like Bitcoin scaling, chinese miner mafia. But im sure bitcoin will overcome it and will still continue to survive even after 10-20 years and many years to come. Long live Bitcoin!
Bitcoin crypto currency has experienced countless ups and down.
But still it survive and has been soaring up until now it may face many obstacles right now like Bitcoin scaling, chinese miner mafia. But im sure bitcoin will overcome it and will still continue to survive even after 10-20 years and many years to come. Long live Bitcoin!
Bitcoin does not need fiat to disappear to stabilize its price, the price of bitcoin is unstable because there are huge whales with huge stash that can manipulate the price at will the only way for that to change is the price to go up and for the whales to take the opportunity to get out of bitcoin .
We all need fiat to convert our bitcoin and that is why bitcoin will never replace the fiat system. Please be realistic, we are happywhen we see the value of bitcoin is increasing because it gives us the opportunity to cash out with a profit.
Bitcoin does not need fiat to disappear to stabilize its price, the price of bitcoin is unstable because there are huge whales with huge stash that can manipulate the price at will the only way for that to change is the price to go up and for the whales to take the opportunity to get out of bitcoin .
I don't look into the future as far as you do. To me the important is here and now (2-3 years) and I hope my investments will bring some profits in that period.
20 years is a very long time for a technology and it will have to evolve to continue being used. I'm sure electronic payments are the future and cryptos are going to survive, but will it be Bitcoin? I doubt it. To me Bitcoin is a big truck that goes through all the mud and dirt to mark the way for new currencies that will follow.
I share your point of view, Bitcoin needs help and fast else it would end up a just a pioneer and light bearer for a more robust and well developed coin. To those projecting donkey years to wait out for explosion in price of Bitcoin, well good luck! A clue from Microsoft lunch a new version of their software every year, within few years, they became a force.20 years is a very long time for a technology and it will have to evolve to continue being used. I'm sure electronic payments are the future and cryptos are going to survive, but will it be Bitcoin? I doubt it. To me Bitcoin is a big truck that goes through all the mud and dirt to mark the way for new currencies that will follow.
I am sure that bitcoin will be in that time also a really good crzptocurrency because it is reallz hard to beat bitcoin now and It is impossible in short term to do It so bitcoin is best type of investment in coins.
A few years I had those same thoughts and concerns until I got to experience the pitfalls and the advantages of using this technology for myself.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
Volatility is what makes Bitcoin exciting, removing it from the equation then it will get boring. At this current state, Bitcoin has not proven its scalability, if bitcoin price become stagnant, then probably it is the end for Bitcoin. The main reason why Bitcoin gets more popular everyday is because of its wild volatility, investors and traders saw that as an opportunity and I see it as a way to encourage people to hop in while the road for better Bitcoin is being laid.
The price of bitcoin is currently pretty stable, according to the history, however if you are looking for a long-term investment, then volatile assets are not the best option you can choose, it is better to go with stable, safer asset that will surely bring you profit, but the smaller gains, instead of unnecessary risk.
It depends what exactly are you looking for in bitcoin, if you want it for trading purposes, then you have found a great place because the fluctuating price can give you dozens of opportunities to enter a trade.
Definitely each on their own. I was stating that, if Bitcoin do not scale then, long term investment will be a failure. How can it be a financial instrument if it cannot scale? a store of value? I would rather have gold as store of value at least it has been proven for centuries
than Bitcoin that miserably failed its purpose. (This is, if bitcoin failed to scale.) Litecoin has always been useless, their whole premise is wrong "litecoin is silver to btcoins gold"
the only reason you need silver, s because gold is very valueable and not easily divisible. Bitcoin is easily disable, so 'silver' isn't needed.
Litecoin has shorter block times, but that's not really an advantage anyway.
so litecoin will never get big, because it doesn't add anything new.
ETH will stay big, because it offers value, but it's not a currency and therefore not a bitcoin replacement.
bitcoin might stay big, if the blocksize debate gets solved soon enough. And if they can keep nnovating. Otherwise altcoins like dash will take over.
You got a point on LTC and ETH. Litecoins being silver is not needed since Bitcoin can be divided and further divided if the developer wants it and consensus has been agreed. ETH, I do not know but well it does not have any appeal to me. Maybe because of its history and its distribution system.
A few years I had those same thoughts and concerns until I got to experience the pitfalls and the advantages of using this technology for myself.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
Volatility is what makes Bitcoin exciting, removing it from the equation then it will get boring. At this current state, Bitcoin has not proven its scalability, if bitcoin price become stagnant, then probably it is the end for Bitcoin. The main reason why Bitcoin gets more popular everyday is because of its wild volatility, investors and traders saw that as an opportunity and I see it as a way to encourage people to hop in while the road for better Bitcoin is being laid.
The price of bitcoin is currently pretty stable, according to the history, however if you are looking for a long-term investment, then volatile assets are not the best option you can choose, it is better to go with stable, safer asset that will surely bring you profit, but the smaller gains, instead of unnecessary risk.
It depends what exactly are you looking for in bitcoin, if you want it for trading purposes, then you have found a great place because the fluctuating price can give you dozens of opportunities to enter a trade.
Litecoin has always been useless, their whole premise is wrong "litecoin is silver to btcoins gold"
the only reason you need silver, s because gold is very valueable and not easily divisible. Bitcoin is easily disable, so 'silver' isn't needed.
Litecoin has shorter block times, but that's not really an advantage anyway.
so litecoin will never get big, because it doesn't add anything new.
ETH will stay big, because it offers value, but it's not a currency and therefore not a bitcoin replacement.
bitcoin might stay big, if the blocksize debate gets solved soon enough. And if they can keep nnovating. Otherwise altcoins like dash will take over.
Only invest in Bitcoin almost all the alt-coins are pump and dumb trash.
A few years I had those same thoughts and concerns until I got to experience the pitfalls and the advantages of using this technology for myself.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
The volatility is just a part of this technology and you quickly get use to that and then you start using that to your advantage. You have your
pessimists with all new technologies, until they learn more about it. Mass adoption will eventually happen, when we have done the leg work to
promote it properly and explain it to more people.
Volatility is what makes Bitcoin exciting, removing it from the equation then it will get boring. At this current state, Bitcoin has not proven its scalability, if bitcoin price become stagnant, then probably it is the end for Bitcoin. The main reason why Bitcoin gets more popular everyday is because of its wild volatility, investors and traders saw that as an opportunity and I see it as a way to encourage people to hop in while the road for better Bitcoin is being laid.
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-wider usage . Btc needs to be able to be used to be able to purchase anything that traditional fiat is able to. This is obviously a no brainer. Btc needs to be spread out in the hands of more people
Bubbles? They don't seem bubble to me, because as the usage and number of users is getting increased day-by-day, so should the price to maintain the equilibrium.
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- price needs to stabilize - the fluctuation in price is insane and needs to stabilize, in order for this to happen btc needs further distribution. Hoarders (chinese farmers and early miners) are a negative, see below.
And why so? Price is already priced in, and has been stabilizing itself since we see no reasons for a fallacy or a jump upstairs. Distribution would get an increase in price, so why think that stabilization could attract more people? Don't you like free market which gives you an opportunity to sell an "asset" you hold, at your price?
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- fiat currency needs to disappear- this is obviously a radical thought but fiat cannot be an option. The reason is, guys like the mysterious satoshi nakamoto, chinese btc farmers, the vinklevoss twins etc or anyone holding a significant amount of btc can literally tank the btc ecosystem by trading out a large sum of btc to lets say us dollars.
No need, because fiat is the only thing which gives Bitcoins a value currently, if it disappears, what will you exchange Bitcoins for?
Wait, are you thinking that Bitcoins will take Gold's place and will work just like Gold did when once there was a time we had Kings and Queens?
The great majority of people still don't know what Bitcoin is. Sure they may have heard about it but they don't know what it is. It really became something useful and exploded in use when the Slashdot and Galker articles were released. Silk Road put Bitcoin on the map.
You didn't read everything I wrote. Bitcoin acts as both a currency and a commodity at the same time. You only like the currency part of that equation. Bubbles are normal for commodities and they mean Bitcoin is being used. To say bitcoins are being used for speculation and bitcoins are not being used in the same sentence is an oxymoron.
According to the noobs, and to the majority of people. I will be happy if young people will share the cost of the beers after a Saturday night by just sending some BTC (OK, some satoshi) to each other via their web wallet on their smartphone, and they won't care about the technical background or about the future of BTC. If the form of the small payments could be a BTC wallet (and parallel a kind of commodity, to save value), it would mean that our work has been done well.
That day is coming. Just be patient. Bitcoin is very young for payment networks. Today it's enough that it performs as a trading commodity and an occasional currency. Eventually it will be a currency that is also traded like every other currency in the world is now.
The great majority of people still don't know what Bitcoin is. Sure they may have heard about it but they don't know what it is. It really became something useful and exploded in use when the Slashdot and Galker articles were released. Silk Road put Bitcoin on the map.
You didn't read everything I wrote. Bitcoin acts as both a currency and a commodity at the same time. You only like the currency part of that equation. Bubbles are normal for commodities and they mean Bitcoin is being used. To say bitcoins are being used for speculation and bitcoins are not being used in the same sentence is an oxymoron.
According to the noobs, and to the majority of people. I will be happy if young people will share the cost of the beers after a Saturday night by just sending some BTC (OK, some satoshi) to each other via their web wallet on their smartphone, and they won't care about the technical background or about the future of BTC. If the form of the small payments could be a BTC wallet (and parallel a kind of commodity, to save value), it would mean that our work has been done well.
I started with ltc and then to btc to eth and now back to ltc.
It is a weird cycle but that is how I managed to start in the cryptocurrency world.
And yes I did see it at $0.50 when it first started and thought it wouldn't last past a year.
Now 7 years later I am thinking I should of been more open minded back in late 2009.
It is a weird cycle but that is how I managed to start in the cryptocurrency world.
And yes I did see it at $0.50 when it first started and thought it wouldn't last past a year.
Now 7 years later I am thinking I should of been more open minded back in late 2009.
You're right, however, bubbles and volatility is also a lot of what attracts investors to the market, especially whales with a lot of money to move back and forth. Day trading Bitcoin is almost a pastime for these people, and it is where the Bitcoin market gets a lot of its money from to keep the value high, assuming I understand the markets and big players correctly.
Stability is brought on by what you said, but I don't know if enough people are really interested in stability or them to want to move towards that yet.
Yes, and bitcoin is still *only* a 12 billion dollar market (or thereabouts), so I don't think many whales have jumped in the water yet, because them doing so would inflate bitcoin much higher. That's how I see it, anyway. But I agree, volatility and huge growth are good draws for investors/speculators, and more is, in this case, better. Stability is brought on by what you said, but I don't know if enough people are really interested in stability or them to want to move towards that yet.
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