Topic: Could we really go wrong/bad after all these efforts ? (Read 2261 times)

bitcoin is already growing, each day with plenty of new big name joing the whole new crypto world

i think that we have already reached the non return point, for the bad position, don't look to much at the price now, it's not a good indicator of what we are aiming

I think it was pretty much proven the other day that there isn't some conspiracy by banks and governments to destroy Bitcoin, considering a handful of testers spammed the network and brought it to a standstill of processing transactions for 8 hours at the cost of approximately $5000 in transaction fees (which is nothing).


If a bank or government really wanted to destroy Bitcoin, they could easily do so by clogging the network for days or weeks by spamming transactions all day to fill blocks, and considering they have not done so, they clearly don't consider it a threat.

What do other people think ?

^ Likely one of the winners in this game. Too many starry-eyed groupies, blinded by Bitcoin's fame, were attracted like moths to the flame.

Fact is nobody really knows the real answer to this question. Yeah, one could say that things can suddenly imploded and whatever worst case scenario that we thought could never happen, might in fact happen after all. But as what you've said, we have seen people putting their best effort into it, be it investment in terms of time or money, and I'm sure these people would have known what they are doing. And obviously they see a chance in it.

This.  Anything can happen, just look at the history of big company failures like Enron.  However there are too many supporters for it to just disappear.  I notice more businesses taking it as payment, more people aware of it (if not using it), and even governments taking notice and enacting national laws about it.  These things point toward positive growth in the long run.  There will always be price fluctuations but you have to look at the why not the what.  I once bought a stock at 28$ that dropped to ~20 after I bought it.  But not only did the fundamentals stay the same, they got better.  For whatever reason investors were bearish about the company.  I held and now its worth ~110$ a share.  You have to keep an eye on the fundamentals not on the speculation.

I do not believe any person, including me, can know the future. That's my starting point. But I am encouraged by the indicators I look at. Those are:
User and merchant adoption - is is spreading among users and are there more places to spend bitcoin.
Investment - Are there new projects starting and capitol investment flowing in.
Utility - Is it still the cheapest, fastest, and most secure way to send money.
Viability - has it been broken or hacked in some way.


As long as those things are true then I expect it to increase in value and find new use cases. But how that translates into a dollar figure is very hard to determine.

Would like to hear from you about your speculation for the price in the coming 5-10 years.

What I mean is that bitcoin would be very very hard to stop anymore. It has huge capitol investment, it is used worldwide at many tens of thousands of outlets, it has a pipeline of projects that keeps coming, a loyal following of millions and growing. I just don't think bitcoin needs our help anymore. The genie is out of the bottle and it's not going away, IMO. 

What battle is over and how ?

Banning it would require a legal rational. I don't see one. Early in the project there was some concern that bitcoin could be treated like a physical metal coin. Since then it has been legally defined and is now an asset subject to capitol gains. It would be very hard to walk that back in the face of hundreds of millions of dollars in venture capitol.

Na, I've been here since 2010 and it has never looked so good. I live off them now. For me the battle is over.

Stay away from bitcoin !

Bitcoin isn't new, everybody in the 'west' and beyond has heard about it.
I don't even dare to talk about bitcoin anymore, it used to be interesting to people, but now they just laugh about it and make me look like a fool for even defending the concept (which i still do!).

Regarding people, do you know that Bitcoin is still new ?

Sooner or later people will hear about it, just give it some time and watch

you are comparing widely known smartphone applications with something, which is known (here) only for silk road..

Bullish? All those companies exploded in valuation and use in less time... Ask the general public about Bitcoin? "Oh I heard about that..."

That said, Bitcoin is uncharted waters, with a nearly impossible goal, thus carrying a much steeper risk/reward profile than an emerging messaging/posting host.

Nagle's turning bullish.

Bitcoin has been operating longer than Instagram, Pinterest, Vine, and WhatsApp.

Not a soul on Earth one can tell you whether you'll be right or wrong. That's the beauty and scariness of the whole thing.

I have coins. I use them as much as possible. I think there's a good chance they'll be worth more in the future, maybe a ludicrous amount more. It could also easily die from indifference or technical failure. I can live with both scenarios. I'm not convinced there'll be much of a middle ground.

What I didn't do is bet the house on another 2013 style rise a couple of months down the line. That would obviously be pretty sweet but the world doesn't work that way. There were plenty of people talking about taking loans out right on the cusp of the price starting its lengthy descent.

Buyers were treating it like a dead cert back then. What has unfolded since should be a lesson in just how insanely risky this truly still is and how warped the market is.

I think it'll take many years to fulfill its potential. It's a hard/suicidal sell to someone looking in from the outside right now. When doubts have been largely assuaged and there's something approaching proper deflation, that's when things might become surreal.

5-10 years is the time frame I went into it with. It'll either be on its way to real success or terminal decline. By 2021 annual coin inflation will fall to 1.8% and by then infrastructure will make today look quaint. I think that's when we'll start to really know.

You'll either be kicking yourself or ecstatic like everyone else who is here watching it unfold.

I think it's a fine time to make a bet on this whole thing. The road to the future is being built in ways that would've been labelled flat out delusional had you suggested it on here in 2011/12. It's top down deal, though. The people won't come until the path has been laid for them. That it's actually taking place right now is vastly more important and reassuring than any short term price movements.

Are you optimistic for Bitcoin as investment ?

I will ask you the same question which I've asked above, am I mistaken for investing in Bitcoin ?