Bitcoins true potential - page 3. | Bitcointalksearch.org

ipanks

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Quote from: hawkins on October 08, 2016, 07:37:02 AM

Well, bitcoin is something big on the internet, and I think the potential of bitcoin until now has not seen, because I think bitcoin has great potential to become an international currency. besides bitcoin also be made in the fields of business for entrepreneurs who can see the potential of bitcoin. bitcoin has great potential, but I guess there is no limit on the potential of bitcoin

bitcoin has a big potential and until now, that bitcoin potensial is not show for full, only few percentage, because many government don't make any statement about bitcoin legacy. if government said bitcoin is legal, then the bitcoin potential will be show to many people and maybe bitcoin itself can be international currency like hawkins said. and yes, bitcoin potential has no limit in future, it could reach many country and many places and every people can used bitcoin for free.

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Well, bitcoin is something big on the internet, and I think the potential of bitcoin until now has not seen, because I think bitcoin has great potential to become an international currency. besides bitcoin also be made in the fields of business for entrepreneurs who can see the potential of bitcoin. bitcoin has great potential, but I guess there is no limit on the potential of bitcoin

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Quote from: romero121 on October 08, 2016, 05:33:37 AM

Quote from: pooya87 on October 04, 2016, 02:47:36 AM

Quote from: Newcoins2020 on October 04, 2016, 02:44:26 AM

Quote from: sishendaoye on September 06, 2016, 09:41:32 AM

Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

I think the true potential of bitcoin will be to reach the value over 5k and for it to be accepted globally in any shop.
This is ofcourse a big goal but that's the true potential for bitcoin and it could take very long to reach this point if ever.

even if we someday see bitcoin accepted only on the internet, meaning all the shops that have a website and are selling through there start accepting bitcoin, then the price will go to the moon. the 5K$ is just the start of it all.

Bitcoin's potential can never be predicted exactly. But when one understand its potential, then even if it falls people user won't leave because he know that sure bitcoin rises again. Possibly the price of bitcoin might get a standard value than going very high to $10000 and so on.

As you said bitcoins is unpredictable so we can't really know what will happen for it and what price will go so far, but aslong as bitcoin exist well high provabilities for us to earn more and this coin will surely got more acceptance for this incoming years as it counts. But $10000 is so huge amount for bitcoin to be reached since i don't see any trigger eventd that can make the coins price go soar for more.

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Quote from: pooya87 on October 04, 2016, 02:47:36 AM

Quote from: Newcoins2020 on October 04, 2016, 02:44:26 AM

Quote from: sishendaoye on September 06, 2016, 09:41:32 AM

Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

I think the true potential of bitcoin will be to reach the value over 5k and for it to be accepted globally in any shop.
This is ofcourse a big goal but that's the true potential for bitcoin and it could take very long to reach this point if ever.

even if we someday see bitcoin accepted only on the internet, meaning all the shops that have a website and are selling through there start accepting bitcoin, then the price will go to the moon. the 5K$ is just the start of it all.

Bitcoin's potential can never be predicted exactly. But when one understand its potential, then even if it falls people user won't leave because he know that sure bitcoin rises again. Possibly the price of bitcoin might get a standard value than going very high to $10000 and so on.

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Quote from: Slark on October 03, 2016, 07:25:55 PM

Do you want to see Bitcoin True Potential? Just wait for next global economic crisis and every bank lover will be buying Bitcoin then.

Deutsche Bank is in trouble and most likely will fall - this would probably bring upon Europe crisis.

Today's scenario is awfully similar to what happened in 2008 after Lehman Brothers fell.

Deutsche Bank.... The German government may not directly save it, but may make some behind the scenes moves to ensure that it does not fail.
No government in the world wants a replay of the Lehman collapse.

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There are lots of features that can increase the adoption of bitcoin significantly in future. Decentralized, anonymous, very low fee and fast irreversible transaction makes bitcoin superior in the field of payment processor. Price may grow exponentially in few years.

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bitcoin does have a lot of potential but if it does not stay innovative it will lose to altcoins.

and currently it is losing a lot of market share to altcoins which is a very bad sign.

once lost, it will be nearly imposable to regain

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Quote from: tee-rex on October 04, 2016, 01:06:38 PM

Quote from: Spaceman_Spiff on October 04, 2016, 10:58:28 AM

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD. No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value. Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on. Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

An excellent analogy! I hope you wouldn't mind me using it occasionally?

Thanks! Of course feel free to use it as often as you like Wink

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Quote from: ~Bitcoin~ on October 04, 2016, 01:14:01 PM

Quote from: Adaleon on October 03, 2016, 10:37:13 AM

Bitcoin has an unlimited potential but if Bitcoin is going to be able to show us that is still unknown because many things can come in the way of bitcoin.
Like a other company taking over Bitcoin or Bitcoin in general just dying, we have to see for our selves what will happen.

Other company taking over bitcoin ? Huh

I think you mean to say other altcoin taking over bitcoin but chance of this is really low as not many new coins will find it easy to get the big support like bitcoin have gained over few years. Community support really adds great value to any cryptocoin.

All the new coins that are coming out and exist are garbage anyways, and a majority of them are just pumped and then dumped by whatever community they may have had, even if they are something that is actually slightly revolutionary. The community always has and will be a big part of a cryptocurrencies success, and a lot of people who explore altcoins simply don't care about the continuation of a currency and care more about a quick profit.

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I don't think there can be such a thing as a max price for BTC. There is literally no peg, no connection to commodities (excluding electricity for mining maybe). Let's try to answer a more fundamental question: why is btc valued? Or why is USD or euro valued?
They are easy to pay with, they are liquid and they are known as (more or less) safe way of transaction of your values.
The problem is that nobody knows for sure to what extent we will need BTC or any other currency like USD in the future. It is all highly unpredictable.

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Quote from: Biodom on October 04, 2016, 12:58:43 PM

Mainstream economist Bill Gross (bond king) talks about bitcoin, etc.
Quite amazing and sobering outlook. Not sure what to do at this juncture as far as my non-crypto assets are concerned.

https://www.janus.com/insights/bill-gross-investment-outlook

Quote

Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms...

I think your non-crypto assets are fine since we live not only in crypto world but also in commodities needed by our body survival.

As for the bitcoin potential, considering the population of people involved, and the technical development of bitcoin being implemented, Bitcoin true potential lies on the adoption of masses which really relies on the usage and integration of the coin. If there is a platform where bitcoin can be easily access by all people with or without the internet then bitcoin true potential can be achieve.

Quote from: tee-rex on October 04, 2016, 01:06:38 PM

Quote from: serjent05 on October 04, 2016, 12:41:37 PM

Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement

Your English isn't perfect either.

What do you expect, he just admitted that his natural language is not english.

~Bitcoin~

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Quote from: Adaleon on October 03, 2016, 10:37:13 AM

Bitcoin has an unlimited potential but if Bitcoin is going to be able to show us that is still unknown because many things can come in the way of bitcoin.
Like a other company taking over Bitcoin or Bitcoin in general just dying, we have to see for our selves what will happen.

Other company taking over bitcoin ? Huh

I think you mean to say other altcoin taking over bitcoin but chance of this is really low as not many new coins will find it easy to get the big support like bitcoin have gained over few years. Community support really adds great value to any cryptocoin.

tee-rex

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Quote from: Spaceman_Spiff on October 04, 2016, 10:58:28 AM

Quote from: tee-rex on October 04, 2016, 09:38:14 AM

Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD. No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value. Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on. Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

An excellent analogy! I hope you wouldn't mind me using it occasionally? I've seen quite a few people repeating that story again and again all over the place. It is like an epidemic really. Someone said something (maybe, as a joke) and a lot of people started to parrot back as though a profound wisdom had been revealed to them.

Quote from: serjent05 on October 04, 2016, 12:41:37 PM

I observed that too, many are confused about where bitcoin value is derive from. well maybe because most people roaming in here are just kids or young adults that has not yet seen the reality of the world. And most are non english speaking in nature so they are having trouble with the terms itself. Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement

Your English isn't perfect either.

Biodom

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Mainstream economist Bill Gross (bond king) talks about bitcoin, etc.
Quite amazing and sobering outlook. Not sure what to do at this juncture as far as my non-crypto assets are concerned.

https://www.janus.com/insights/bill-gross-investment-outlook

Quote

Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms...

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Quote from: Spaceman_Spiff on October 04, 2016, 10:58:28 AM

Quote from: tee-rex on October 04, 2016, 09:38:14 AM

Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD. No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value. Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on. Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

I observed that too, many are confused about where bitcoin value is derive from. well maybe because most people roaming in here are just kids or young adults that has not yet seen the reality of the world. And most are non english speaking in nature so they are having trouble with the terms itself. Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement. And I agree that most think that people get its value from USD lol, which is not.

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Quote from: Nimbulan on August 09, 2016, 06:55:45 AM

Quote from: NorthPixel on August 09, 2016, 06:38:49 AM

Quote from: maku on August 09, 2016, 06:13:05 AM

Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.

It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments.

thats true, but it is definitely possible, in my opinion in several decades countries from around the world might be using it as an official currency
Bitcoin price is valued according to the value of fiat money the buyer is ready to pay.It increases and decreases in proportion to increse and decrease in demand and supply.However, when every one starts using bitcoins, then its value would increase very high and its true potential can be known at that time.

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Quote from: tee-rex on October 04, 2016, 09:38:14 AM

Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD. No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value. Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on. Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

tee-rex

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Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

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Quote from: xIIImaL on October 04, 2016, 07:48:57 AM

Quote from: MaritiJames3 on October 04, 2016, 03:24:10 AM

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

But we can make 16000 btc level amount only in mining after halving. So we had some demand and price value for the bitcoin around world wide. Most of the people will need bitcoin to centralized to use to easily. Even I .

16000? where you have found this number? the current halving is 1800 coins produced per day, not 16000 lol, and in the next one will be 900, and it has nothing to do with the value of bitcoin, this is already known

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Quote from: MaritiJames3 on October 04, 2016, 03:24:10 AM

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

provide knowledge about bitcoin toward others can create bitcoin price increases. because more and more people using bitcoin. bitcoin availability in the market will be increasingly in demand by all people.

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