Topic: How sustainable is bitcoin? (Read 1565 times)
People are slowly accepting Bitcoin and think it's a property so i think it's sustainable enough for us.
It is complicated, one cannot tell whether bitcoin is sustainable or not.I wouldn't call Bitcoin anything an "investment". At best it would be speculation. We have had some questions on lottery tickets; in my mind, Bitcoin would fall into the same general category
There is a growing demand for bitcoin that grows exponentially since 2011 or 2010. Let's look at the inventory, the reserves are already there and the mining activities are not that fast. And this causes a shortfall between demand and supply. The price will go up eventually.
about sustainable, the first must about regulation, with regulation can guaranteed sustainable
about sustainable income from the best way use trading, but you must have skill
about sustainable income from the best way use trading, but you must have skill
The regulatory situation of is not to reach a certain reasult since it's located in the gray zone. We can't predict what the country leaders will decide and what will happen to in terms of the sustainability of the whole ecosystem.
wait what? bitcoin as legal currency? where did you read that?
You realize if BITCOIN becomes a legal currency the countries with massive computing power can quickly become the richest country in the world dumping USD against BTC-
Economics will turn upside down.
As is the issue is fiat can be printed into oblivion -whenever they reach Debt limit they increase it higher. With BTC legal I can see politicians promising -"one btc miner for every household if I get elected or making energy cheaper" lol
That's true and the currency is very high so everyone is attracted to it. There's no specific answer on how many bitcoins that can still be mined out there. The best thing to do is earn coins here in this forum while it was still growing and work hard. Because bitcoins will make you very rich.
If the bitcoin's protocol continues like now, i dont believe in the sustainability of that, but the bitcoins protocol its very malleable and i think the nodes can update with the grown of the technology.
One thing btc has shown us for the past years is it has a good capability to adjust. And as you've said, it won't be the same since btc moves with technology and time and bitcoin would probably make changes to itself to adapt.
Hello,
So if I'm to understand this correctly, difficulty is getting harder right? so what if it gets to a point where its just extremely hard to mine and supply gets so tightened that regular users are out of game altogether from mining.
Now -it can only be purchased and very limited quantity? won't that end up becoming same like fiat money? few control the interests of others?
Rich getting richer ? I understand the concept of sharks eating small fish and what not -I also understand that recession and progression are part of business cycle but computing isn't going ahead at a pace where we can continue to mine -so what's the path? just collect and that's it?
TIA
I do got your point and things you do said is somehow real and would really possible to happen because there would really be some instances that people would just hold up their bitcoin because they know that the price of it would really be valuable even more on upcoming years to come. Dont worry too much on difficulty to rise up since there would be always new miners would really do the job and also the last supply of bitcoin to be mined would be on year 2120+ as far as i know ( correct me if im wrong) So if I'm to understand this correctly, difficulty is getting harder right? so what if it gets to a point where its just extremely hard to mine and supply gets so tightened that regular users are out of game altogether from mining.
Now -it can only be purchased and very limited quantity? won't that end up becoming same like fiat money? few control the interests of others?
Rich getting richer ? I understand the concept of sharks eating small fish and what not -I also understand that recession and progression are part of business cycle but computing isn't going ahead at a pace where we can continue to mine -so what's the path? just collect and that's it?
TIA
If the bitcoin's protocol continues like now, i dont believe in the sustainability of that, but the bitcoins protocol its very malleable and i think the nodes can update with the grown of the technology.
That is why we should keep on gathering bitcoin as much as we can now because that is the only way we can really predict the future. Everything in the future is very uncertainty unsustainable but from what we do today we can really predict and follow the future of bitcoin. Like fiat I do believe that when all bitcoin has been mining we can only be using what is in circulations.
Practically speaking yes it is a good idea to save btc as early as now but the question is how is everything work with that particular rate for it changes from time to time. Normally it fluctuates and pump for some reasons. Well, it is suitable not until everyone here quit promoting, quit investing btc or any relevant coins. If we are going to circulate it first must be change into real cash because we depend on cash. Basically,cash is the prior thing to use for generating something like business or a similar thing therefore it will be more sustainable.
That is why we should keep on gathering bitcoin as much as we can now because that is the only way we can really predict the future. Everything in the future is very uncertainty unsustainable but from what we do today we can really predict and follow the future of bitcoin. Like fiat I do believe that when all bitcoin has been mining we can only be using what is in circulations.
We should also consider that there are numerous other altcoin available in the market which are being traded and being rising quickly. So will btc in future be replaced by some other technology or other coin may be possible or may not be which only time will tell us. For now we can store the btc and save it but for who long will need to be checked.
That is why we should keep on gathering bitcoin as much as we can now because that is the only way we can really predict the future. Everything in the future is very uncertainty unsustainable but from what we do today we can really predict and follow the future of bitcoin. Like fiat I do believe that when all bitcoin has been mining we can only be using what is in circulations.
Practically speaking yes it is a good idea to save btc as early as now but the question is how is everything work with that particular rate for it changes from time to time. Normally it fluctuates and pump for some reasons. Well, it is suitable not until everyone here quit promoting, quit investing btc or any relevant coins. If we are going to circulate it first must be change into real cash because we depend on cash. Basically,cash is the prior thing to use for generating something like business or a similar thing therefore it will be more sustainable.about sustainable, the first must about regulation, with regulation can guaranteed sustainable
about sustainable income from the best way use trading, but you must have skill
about sustainable income from the best way use trading, but you must have skill
The regulatory situation of is not to reach a certain reasult since it's located in the gray zone. We can't predict what the country leaders will decide and what will happen to in terms of the sustainability of the whole ecosystem.
wait what? bitcoin as legal currency? where did you read that?
You realize if BITCOIN becomes a legal currency the countries with massive computing power can quickly become the richest country in the world dumping USD against BTC-
Economics will turn upside down.
As is the issue is fiat can be printed into oblivion -whenever they reach Debt limit they increase it higher. With BTC legal I can see politicians promising -"one btc miner for every household if I get elected or making energy cheaper" lol
That is why we should keep on gathering bitcoin as much as we can now because that is the only way we can really predict the future. Everything in the future is very uncertainty unsustainable but from what we do today we can really predict and follow the future of bitcoin. Like fiat I do believe that when all bitcoin has been mining we can only be using what is in circulations.
Practically speaking yes it is a good idea to save btc as early as now but the question is how is everything work with that particular rate for it changes from time to time. Normally it fluctuates and pump for some reasons. Well, it is suitable not until everyone here quit promoting, quit investing btc or any relevant coins. If we are going to circulate it first must be change into real cash because we depend on cash. Basically,cash is the prior thing to use for generating something like business or a similar thing therefore it will be more sustainable. 
That is why we should keep on gathering bitcoin as much as we can now because that is the only way we can really predict the future. Everything in the future is very uncertainty unsustainable but from what we do today we can really predict and follow the future of bitcoin. Like fiat I do believe that when all bitcoin has been mining we can only be using what is in circulations.
Computing field will advance for sure no matter what happens. We had big vacuum derived computers as large as a building who was able to compute plus and minus and after fifty years later we have small chips with one inch square size able to compute the distance between galaxies in seconds. So you still think that it is slow pace?
No, bitcoin will sustain regardless of its mining technology because the value of bitcoin is defined. The mining will get difficult as mire and more people will come into play but that's for them, the miners to get the rearward with difficulty. Bitcoin is not dependent on miners for its value but depends on the people who invest in it with fiat. The difference is pretty simple. And about the mining, well it will take a way out soon as we move.
No, bitcoin will sustain regardless of its mining technology because the value of bitcoin is defined. The mining will get difficult as mire and more people will come into play but that's for them, the miners to get the rearward with difficulty. Bitcoin is not dependent on miners for its value but depends on the people who invest in it with fiat. The difference is pretty simple. And about the mining, well it will take a way out soon as we move.
about sustainable, the first must about regulation, with regulation can guaranteed sustainable
about sustainable income from the best way use trading, but you must have skill
about sustainable income from the best way use trading, but you must have skill
The regulatory situation of is not to reach a certain reasult since it's located in the gray zone. We can't predict what the country leaders will decide and what will happen to in terms of the sustainability of the whole ecosystem.
wait what? bitcoin as legal currency? where did you read that?
You realize if BITCOIN becomes a legal currency the countries with massive computing power can quickly become the richest country in the world dumping USD against BTC-
Economics will turn upside down.
As is the issue is fiat can be printed into oblivion -whenever they reach Debt limit they increase it higher. With BTC legal I can see politicians promising -"one btc miner for every household if I get elected or making energy cheaper" lol
about sustainable, the first must about regulation, with regulation can guaranteed sustainable
about sustainable income from the best way use trading, but you must have skill
about sustainable income from the best way use trading, but you must have skill
The regulatory situation of is not to reach a certain reasult since it's located in the gray zone. We can't predict what the country leaders will decide and what will happen to in terms of the sustainability of the whole ecosystem.
Guys who are paying for bills and what not -how do you do it?...
I only use bitcoin to make online purchases. And I have not sold any bitcoin for other currency. My formula is to buy bitcoin wait for an increase in value then spend bitcoin... then repeat. This way I am not paying fees to switch back to shity fiat. Why do that? in fact I normally deal with sellers who give me an additional 1-3% off for using bitcoin. If you look you will find tens of thousands of retailers who take bitcoin now.
It's for people paying bills- AFAIK government and service providers (most of them) still don't accept BTC
Can you name few? Let's say I want to buy something from Amazon -is it possible? how about Ebay? - paypal provides sort of security (if items not as described it can be returned for full refund-do we have any sort of thing here?)
btw I think US has a lot of options but for here in Canada- nada
For example -I have btc in my Poloniex account- how can I use those to do anything?
about bitcoin sustainable, the first must about regulation, with regulation bitcoin can guaranteed sustainable
about sustainable income from bitcoin the best way use trading, but you must have skill
about sustainable income from bitcoin the best way use trading, but you must have skill
The regulatory situation of bitcoin is not to reach a certain reasult since it's located in the gray zone. We can't predict what the country leaders will decide and what will happen to bitcoin in terms of the sustainability of the whole ecosystem.
Aren't regular users already being excluded from mining? I mean you'd need a pretty large initial investment to get started with mining.
If you want to get a decent ROI in a short time at least.
People will always be able to purchase though and with small purchases, you could see some good ROI pretty fast compared to mining.
If you want to get a decent ROI in a short time at least.
People will always be able to purchase though and with small purchases, you could see some good ROI pretty fast compared to mining.
Guys who are paying for bills and what not -how do you do it?...
I only use bitcoin to make online purchases. And I have not sold any bitcoin for other currency. My formula is to buy bitcoin wait for an increase in value then spend bitcoin... then repeat. This way I am not paying fees to switch back to shity fiat. Why do that? in fact I normally deal with sellers who give me an additional 1-3% off for using bitcoin. If you look you will find tens of thousands of retailers who take bitcoin now.
Jump to: