Topic: Don't Buy Bitcoin Now - At USD6000 - page 3. (Read 2523 times)
First of all I don't know what people mean when they say the bitcoin is overpriced. Bitcoin has the value that users are willing to pay for it and it can't be overpriced. What will happen after the fork next week no one can't say for sure but to some predictions we might expect the price dump but very soon afterwards also the price pump. And to bux or not depends if you have shoet term or long term profit strategy. Anway, look at the bitcoin price as a game that changes all the time and be flexible.
...
No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'.
This shows you don't understand the simple strategy of "pump-and-dump". The top 5% smart money never buy and hold in such a market where the rise is a vertical cliff. If you have the mettle of a real winner, you should wait for another "2015 year" to buy and hold - now is not the YEAR. If you cannot wait, it means you don't have much of a future as a speculator. No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'.
...
this says you are wrong.
https://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/#5c08a59e2a5a
maybe the early investors benefit the most but bitcoin has the potential to end world poverty.
It is unbelievable you pay attention to such articles. Steve Forbes:this says you are wrong.
https://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/#5c08a59e2a5a
maybe the early investors benefit the most but bitcoin has the potential to end world poverty.
Quote
William Blair partner Brian Singer explains how Bitcoin and blockchain encryption has a greater ability to bring more of the world's population out of poverty than anything we've seen in decades."
Just this phrase "...in decades" shows the article is trash. ...decades! No statesmen nor philosophers since the beginning of civilization ever suggested a solution to eliminate poverty. Most of you here just don't know what you are saying nor doing; you only think buying and holding now at 7000 is still a good investment decision. For those who know, you are just following your greed - it will ultimately lead to loss and pain. The Chinese have a saying:
旁观者清,当局者迷, The ones looking on are clear-minded, the ones much involved are muddled-headed.
When people are overcome by greed, they cannot listen to alternative advice. It is what is happening now.There are the smart money doing the "pump-and-dump":
The smart money now don't "buy-and-hold", but "buy-low-sell-high" without keeping a single satoshi
They know when to ride a rising market wave making huge profits upwards all the way without any risk and without holding a single satoshi. If you don't even understand the simple psychology of the rich, you should not be "investing" in bitcoins at all. Greed will cost you dearly.It is still not too late now at USD 7000
depending for people bro, even if he buy BTC now, he still profitable in the future
if not buy now, when?? when the price over $6000, bitcoin price will go to the moon
It is a good chance, we should buy bitcoin at the moment because it is on its way to peak and its worth will increase with time because people are favoring it and are investing into it. So a person who at the moment do not buy bitcoin and is waiting for a fall so that its price comes down then it is hard to say anything about it, it’s worth is increasing with speed of light and those who do not buy it now will regret it in future. if not buy now, when?? when the price over $6000, bitcoin price will go to the moon
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered
Bitcoin too may be the one-world-money if all the IMF members decide so - replacing all fiats. Will that happen? So in the mean time Bitcoin is only speculation. It is very, very good "buy and hold" provided it is bought AT_THE_RIGHT_PRICE.
All here assume Bitcoin price from this USD 7000+ range can only go higher - never lower.
Who knows? It is not certain that Bitcoin cannot be replaced; there are many unknows considerations about the blockchain technology. 15 Nov may be a great unexpected surprise.
No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'.
No can really see but we have certain perspective on what will happen on that date, and we could make a basis of the past forks happen last days and years that those one brings bitcoins to its upper most level right now. And if we bought today and suddenly the price climb for 10,000$ or even more then we will be lucky to be an adoptor of the fork but we will be sorry if we will still doubting since bitcoins gives unlimited opportunities for us to earn with this huge event happening on him.
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered
Bitcoin too may be the one-world-money if all the IMF members decide so - replacing all fiats. Will that happen? So in the mean time Bitcoin is only speculation. It is very, very good "buy and hold" provided it is bought AT_THE_RIGHT_PRICE.
All here assume Bitcoin price from this USD 7000+ range can only go higher - never lower.
Who knows? It is not certain that Bitcoin cannot be replaced; there are many unknows considerations about the blockchain technology. 15 Nov may be a great unexpected surprise.
No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'.
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered
Bitcoin too may be the one-world-money if all the IMF members decide so - replacing all fiats. Will that happen? So in the mean time Bitcoin is only speculation. It is very, very good "buy and hold" provided it is bought AT_THE_RIGHT_PRICE.
All here assume Bitcoin price from this USD 7000+ range can only go higher - never lower.
Who knows? It is not certain that Bitcoin cannot be replaced; there are many unknows considerations about the blockchain technology. 15 Nov may be a great unexpected surprise.
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
with all these random forks what makes you so sure about that?
this says you are wrong.
https://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/#5c08a59e2a5a
maybe the early investors benefit the most but bitcoin has the potential to end world poverty.
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
with all these random forks what makes you so sure about that?
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
with all these random forks what makes you so sure about that?
This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Quote
1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
2) Bitcoin may only be a medium of speculation.
Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible.
Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1%
By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. Quote
One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not.
Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population
Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world.
Why not, just buy as much bitcoins as you can. The peak is not there yet, maybe next year. It will now rise to 10K and much higher next year. Buy and hold and you'll make a fortune.
You are right. If you know it will rise to 10,000, you should buy now at 7000 and sell at 10,000. That's the thing. The whole "price is too high right now" that people are saying basically every month when bitcoin hits new highs is never actually true if we keep in mind these predictions about bitcoin going to $10,000 or even $100,000. If that happens to be true, than there is no difference if you buy it at $4000, $5400 or $8999, you would still profit and that's what everyone is aiming for, right? I doubt few dollars here or there would make you a difference and people are acting very greeding with these "6100 is to high for me, but I will wait for 5999". These changes are really nothing compared to the possible future prices.
TBH, bitcoin is overpriced. However this doesn't mean it still can't go up.
The hype is so big with bitcoin at the moment that i don't see a reason why $10000 per coin can't be achieved by the end of the year. As long as the media continues to mention bitcoin and investors continue to buy into bitcoin.
But in the end there will definitely be an adjustment that takes price down with it.
The hype is so big with bitcoin at the moment that i don't see a reason why $10000 per coin can't be achieved by the end of the year. As long as the media continues to mention bitcoin and investors continue to buy into bitcoin.
But in the end there will definitely be an adjustment that takes price down with it.
The CEO of Goldman Sachs said the future currency could be based on consensus. If we all agree the bitcoin worth $1million, then it is worth $1 million.
TBH, bitcoin is overpriced. However this doesn't mean it still can't go up.
The hype is so big with bitcoin at the moment that i don't see a reason why $10000 per coin can't be achieved by the end of the year. As long as the media continues to mention bitcoin and investors continue to buy into bitcoin.
But in the end there will definitely be an adjustment that takes price down with it.
The hype is so big with bitcoin at the moment that i don't see a reason why $10000 per coin can't be achieved by the end of the year. As long as the media continues to mention bitcoin and investors continue to buy into bitcoin.
But in the end there will definitely be an adjustment that takes price down with it.
Its up to thethe people if they buy bitcoin or not But I suggest it's better if you have extra money in your wallet its bettwr if you buy bitcoin. Because even the price of bitcoin as od now is very high we dont know when the price continue to inceease or when the price decrease.
Whatever any post says Bitcoin will be bitcoin, because it has created a positive feel in every situation It has been criticized. Bitcoin answered by action (just look at the price vs time curve). Any price is right price to buy BTC.
The cost of making a bitcoin is about $3000 at the moment. That could be a supporting price.
If the cost of mining bitcoin increases, the miners stop mining - the bitcoin network would fail to work or response. When bitcoins cannot be transferred, it is a dead bitcoin.
Also, there is a perception that BITCOIN is THE CRYPTO - its future is secured. A thing is only supremely secured if God stamps it "permanently approved". Crypto and blockchain technology may have been "approved" by God - that's why it enters into our life. If a better and messianic crypto comes - bitcoin's worth would go to zero.
Whatever any post says Bitcoin will be bitcoin, because it has created a positive feel in every situation It has been criticized. Bitcoin answered by action (just look at the price vs time curve). Any price is right price to buy BTC.
The cost of making a bitcoin is about $3000 at the moment. That could be a supporting price.
Many talk about the 15 Nov hard fork. Even those experts in the tech subforum seem to be uncertain what this HARD fork means technically.
I myself is still trying to unravel what it's true significance is. What I know is there will be two block chains that fork - differs - from the moment at fork - technically at a certain "height" X of the two block chains. After the height X, blocks would have different transactions. There will be two BTC markets and "spot" quotes. The problem is your unspent BTC would be in both chains. If both markets continue from height X with the SAME PRICE of $7000:
But remember the rule - "THERE IS NO FREE LUNCH". The problem is which of the two blockchains can claim the "right of true succession".
Many here says the central bankers create fiat "out of thin air". Isn't it the same now to assume that the 15 Nov fork can create wealth "out of thin air" - somehow legitimately because BITCOIN IS DIFFERENT.
I myself is still trying to unravel what it's true significance is. What I know is there will be two block chains that fork - differs - from the moment at fork - technically at a certain "height" X of the two block chains. After the height X, blocks would have different transactions. There will be two BTC markets and "spot" quotes. The problem is your unspent BTC would be in both chains. If both markets continue from height X with the SAME PRICE of $7000:
HURRAY! Your wealth doubles after the fork
But remember the rule - "THERE IS NO FREE LUNCH". The problem is which of the two blockchains can claim the "right of true succession".
Many here says the central bankers create fiat "out of thin air". Isn't it the same now to assume that the 15 Nov fork can create wealth "out of thin air" - somehow legitimately because BITCOIN IS DIFFERENT.
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