Topic: Bitcoin: Should you stay or should you go? - page 31. (Read 34212 times)

If my grandmother had wheels, she'd be a bicycle.

I hope what you are saying that turns true and if it turns then it would be like dream come true of all the users of bitcoin who still have in it that it will grow and shine in the future as the prices have lowered down at present so everyone has a fear that it wont survive in the future.

I’m saying that only a killer app will offset the ongoing downward pressure on prices exerted by miners who, faced with falling prices after the China-bubble burst, have no choice but to sell their bitcoins as soon as they earn them. And whales face a related problem: if they sell now, they can still be fiat rich. If they wait, they could end up being fiat poor[er]. Every time the price bounces a bit – it almost hit 300 a few weeks back – they face this dilemma once again and crack under the strain. Absent positive expectations, there is nowhere for the price to go but down, and it could theoretically go down all the way because the system itself could remain fully intact. For miners, sell-pressure is made worse by the fact that mining is much more expensive than it was. What bitcoin needs is an environment analogous to Windows and/or the Mac, which made computers finally accessible to the masses. The Web did the same thing to the once code-driven Internet.

A killer app would change the dynamic from negative to positive. I'm certain it will come eventually but that it could take a lot longer than we think. I suspect that the blockchain itself may turn out to be the bitcoin killer-app, initially as the world's notary public. More and more institutions will use it to keep their archival data tamper-proof, even as they experiment with their own proprietary blockchains. Such use has the potential to ramp up bitcoin use far beyond casual currency-use. I remain skeptical of bitcoin as a day-to-day currency (except on the dark web of course, where I've earned bitcoins myself as an academic ghostwriter).

Ya agreed  but different people have different perceptions. So I think it is totally an individual decision whether to stay or go away. As you need to believe in yourself many people around you would say that it is dead or it is foolish decision to invest in bitcoin but who the hell are to say this and how they are very much sure that bitcoin would not work or will be alive in future?? time to think

Yes dont go with the current value it is definitely going to create history in the future so the best way is to hold it for a moment and wait for the right value and at present you can also go for trading where you can earn good amount of profit and it would be stupidity to leave it at a moment.

bitcoin in long term  should have a bright future and that gives the reasons that we are all here talking about it.

I don't follow your question. Bitcoin is a currency or an asset class. Does the Yen or the Euro need a "killer app" to be successful or useful? No. QT scan codes already exist, which enable the payment to be recognized.

What's missing that only a "killer app" could provide, and why does that thing that's missing (if something is) drive solely the future success or failure of bitcoin?

Are you saying that business owners don't have an easier way to facilitate payments? Are you saying that mobile applications drive user adoption of a new idea or technology?

Education and comfort level is a big part of this. Computers weren't deemed to be important or a necessity when they first came out. The internet wasn't considered a necessity when it first became available. Education and time changed the popular opinion. The same can happen with Bitcoin...I don't think a killer app is the single solution.

Exactly.We can be rich like anything or else will be no where.. As it is really difficult to judge the future of bitcoin and the main reason is that its value is continuously going down at a moment so that is the fear the minds of the people who are actually into the bitcoins.

Exactly we cannot be so sure about the bitcoin that it will change the world in coming years. Anything is possible it can grow like anything or it can be just on the paper in the future. The best way is to take an individual decision whether to stay or leave as you cannot guarantee anything out of it.

I don't care about killer apps. I use Bitcoin to pay for things, store value, and to avoid shitty financial companies and governments. I won't leave Bitcoin.

So you can expect a lot of years and did not wait for an upward price movement. There is an option even worse when the price can fall. I think it is very risky to keep all the money in Bitcoin. Only a certain amount. Fiat money is a long time will remain the most popular.
This is only a hope.

but i think this is a great time to start investing in bitcoin, because the price is low and as many people believe, the price is going to go up soon which makes now the best point to invest in bitcoin.

many bitcoin startups are sprouting all over the place and it is going more and more mainstream day by day. It will only get better and better over the coming year. I see this coming year as being the tipping point for Bitcoin and ...Prices to surge

But bitcoin isn't guranteed to go up... it can also go down. Bitcoin could collapse at some point too (though I guess you could say the same about fiat money but I think that would be less likely though not impossible).

Its better to invest in bitcoin than into fiat money because the price of bitcoin is not stable and it may high or low. So that if your investment is successful you can keep it until the price of bitcoin go up and then you can change it into fiat money.

but I think there can be another coin in the distant future that might have the potential of replacing bitcoin. since bitcoin is not perfect and it has its flaws I say that is possible.

unless bitcoin changes and fixes those flaws. for example there is the time that is needed for a transaction to be confirmed, it is not immediate. or the blockchain size which is over 30GB in size I believe.

may i know what your reason is for investing less in bitcoin than you usually would? because you already have near enough or is there an other reason?

Well said.  I am investing like 20 percent less in BTC than I did, say, a year ago but I still believe in it. 

Bitcoin is here to stay and it is the future of finacial world. The upcoming generation will be one of them who will adapt bitcoin in a faster rate that it was ever, thanks to easy digital communications. Social media will also boost the speed of bitcoin adoption throughout the world. Bitcoin will stay and for long time.

I agree with you.
The market currently has a lot of good ideas and projects, and often the good ideas are not enough for success if it is not well presented to the public and well promoted.
Bitcoin is currently number 1 in the field of virtual currency, but it can be replaced with some other ''big'' thing if we don't make breakthrough in next a year or two and become mainstream.
I am personally associated with bitcoin, and I'd love to see it succeed in the long run but if anything better than Bitcoin show up, I will readily accept change, like most other users.
It all comes down to profits and earnings, and ease of use.