Hey guys, first off. Love this coin, love all you guys putting all the hard work i love everything but I need someone to help me out here.
I have a really big amount of darks, ive been non stop buying with the daily profits i get from trading btc so i buy around 100 a day, its been 1month now so i have a decent amount of darks and im loving this coin because it seems to be stable with a great future.
This is my concern. I am seeing a trend, people are cashing out btc and getting the fk out of this whole currency system.
This makes me feel like cashing out the thousands I have and closing the books. Although i really want to see a future in this coin, I am wondering if this whole virtual currency is gonna die and if Darkcoin was simply too late to join the race.
Please make me change my mind because I really want to buy this condo and start my life but if this rises I would be lightyears ahead for my age than just a simple condo.
Mixed emotions fellas, fuarkkk
I have read a few of the replies. All good.
The sea of red on coinmarketcap is down to rumours that China is banning banks from interacting with exchanges. That's causing panic selling. The rumours might be true, but they are still not confirmed. The question is: how important is China to bitcoin?
The other important question for the long-term is - can bitcoin find a place in the financial space? VCs are spending hundreds of millions because they think it can. Their time horizon is not a few months. Its takes a minimum of 12 months for anything straightforward to go from start to launch.
Western Union and the other money transfer businesses, plus many consumer FX firms, are probably the ones who are at risk initially. WU charges $5-$10 on a $100 transfer. Once people get used to $0.05 per transfer with bitcoin then their day is done. WU has reinvented itself many times over, so expect them to be working on a bitcoin project. All they need is regulatory clarity and they could be the biggest players in a few years with all their bitcoin <> fiat outlets.
My brother was involved in a start-up. He had a very, very small stake. The ones that founded the business did so with $10,000. Seven years later they sold out for $50m. My brother got $500k after taxes. The point is that throughout those seven years nothing was certain and it cost him lost opportunities elsewhere, so he probably came out net +$300k.
Problems? There are many. All these pump and dump coins are making newbies punch drunk and nursing loses. ASICs are killing the mass supporters - the miners. The miners are the ones that help spread the word, so these ASICs are counter productive on a number of fronts. The current market prices are probably forcing people to turn off their rigs. There are systemic risks at the moment.
Bitcoin is at the point where VC money and regulatory interest is converging. It has a bright future and as we can see just about every other alt-coins is currently tied to the success of bitcoin. Because bitcoin has a bright future, a few alt-coins will do well.
The thing that keeps me up at night is - Is darkcoin potentially better than bitcoin because of DarkSend? From a technical feature point of view, anonymity from the blockchain, potentially yes. Currently, the devlopers support at bitcoin is significant. Can darkcoin overtake bitcoin? probably not. What we are really gambling is that DarkSend stands up to the mass testing that will hit it and that if it passes, then darkcoin will overtake everything else in the short-term apart from bitcoin. That should see more developer support.
This is a start-up project, nothing is certain. But darkcoin has some features that have a place in the market.