Topic: ☃☃☃ The Bitcoin Dream ☃☃☃ - page 3. (Read 1488 times)

I wanted to make the comparison with the status of gold before fractional reserve banking, when the dollar was still backed by gold, because it means like all value was represented as an amount of gold, so will Bitcoin if it replaces the reserve currency.

Read carefully, that means all value in the world will be measured in Bitcoin and each satoshi of a Bitcoin represents a piece of value on earth.

What is the value of all things on earth combined? Depending on your definition, if you include broad money it's 80 trillion dollar. Now replace 80 trillion dollars with 21 million Bitcoin. That is your target price.

Money is whatever a large network of people agree it is, whether that's stones, shiny beads, gold, silver, fiat, or bitcoin.  Market forces decide its value.  Increased capital flow into this new asset class and new user adoption pushes its value up.  Right now we're in the rapid rise along the S-curve but it won't last forever.  Don't wait!

To answer what it's worth, you have to answer "compared to what?"  Compared to fiat, bitcoin is exposing how terrible fiat currencies are.  They are designed to lose value over time, and to hold populations in a financial servitude to governments and the Banking Cabal.

IMO, if bitcoin reached a static equilibrium (as it will eventually), with the number of users and total capital flow static, it would still appreciate 5% - 10%+ per year compared to fiat, because fiat is so bad.  When that equilibrium is reached, my opinion is that BTC will stabilize in the $500k - $5M range.

crypto is the first honest money that any of us have seen in our lifetimes (even gold price is artificially suppressed).  crypto is a civilzation-changing paradigm shift and will be the largest transfer of wealth in history from the oligarchs to the crypto early adopters.

Of course that's all just my opinion!  ;-)

Shake off the doom-sayers!  The future is bright!

Well, yes the real value of Bitcoin is still a mystery, but the Bitcoin architectures have been trusted and known by the mainstream, so that's the answers why bitcoin is on hype right now. We all can agree on everything that goes up so fast, will go down in the same way. and I believe the panic seller will also help the correction is nastier.

Epic!

You are quite right as to why people like to invest in bitcoin but the major reason for the patronage is because of its limited supply which $21 million. So, investors are mindful of that so that anytime it gets beyond that, it obviously means something has gone wrong.

In other words, Bitcoin limited supply also serve as a check to it

There is all the prerequisites over the next fifteen years, over 50% of the world's population to use a bitcoin or other similar digital currency on a daily basis. Like Internet development, this technology is slow and difficult,but with time it becomes a desirable dream

What is valuable gold? The fact that it is metal, which in its natural form is found in nature and its very little on earth. It's just that people agreed that gold would be a measure of value. If now there were discovered large deposits of gold somewhere, it would have immediately depreciated, since it has no great internal value. Bitcoin is also similar in this respect to gold. It is limited to 21 million and the demand for it serves as a contract of people on the quantitative side of its measure of value. Bitcoin, on the one hand, can be called a financial bubble, and on the other - it grows according to the laws of the market.

This dream can be really coming real in the following months. I never expected to see BTC this big in a short period growth.

I AM GLAD THAT YOU WILL BE BANNED SOON FROM HERE.


You are a piece of shit, you are not even entitled to have an account in here because we all know that you are a troll, IT IS DESPERATING TO SEE THAT THERE IS STILL PEOPLE REPLYING TO YOU.

They are only doing it in order to increase their activity, but they do not realize that you are just a fucking troll.

 Real money is being cashed out to pay for mining expansion which will cause real environmental issues if this keeps up. I wonder what Bitcoin's contribution to global warming is, and how many people will ultimately lose their lives or homes as a result in the long run just from the idiotic waste of energy

The cryptocurrency has wowed markets this year with breakneck gains as investors flocked to an asset that exists only in cyberspace. But the laborious creation of each digital bitcoin by private computer networks has real-world consequences in the form of massive energy use -- including from fuels that cause the most pollution.

Eight 100-meter-long metal warehouses in northern China are a case in point. Bitmain Technologies Ltd. runs a server farm in Erdors, Inner Mongolia, with about 25,000 computers dedicated to solving the encrypted calculations that generate each bitcoin. The entire operation runs on electricity produced with coal, as do a growing number of cryptocurrency “mines” popping up in China.

(Source: Bloomberg)

everybody is looking to get rich by just using bitcoin, and there is nothing new with this, you need to be ready to see thousands of replies in here about saying that bitcoin is the same thing, because they will always say the same.

Bitcoin has been changing a lot since it has been developed for the first time, it was going to be a new way to revolutionate money, but now it is a fast rich scheme for a lot of people.

WTF did I just try to read? Are you dreaming right now...

There are two type of dream, 1 dreams of the day time, which can only be seen and never become into beings. It is totally the thinking. 2. The dream of midnight which has more chance to came into beings. The Bitcoin dream is better than those two because it is more possible with bitcoin that your dream become into beings if you work hard with bitcoin.So the dream of bitcoin is real but it need a hard work or invest in bitcoin.

Yeah. Its not like fiat is backed by assets. That's not what this thread is really about though

How can a market cap increase 6 million times without any significant advancements in technology etc. Without anything tangible being created and without any real value added. It doesn't make sense. I don't think bitcoin can retain a price point that is 6 million times higher than it was 7 years ago. People are going to start cashing in eventually, and the price is going to plummet

bitcoin does not have to be backed by any assets.
it is at the moment regulated by the rules of demand and supply.
the more people put their trust in it (bu acquiring it) the more its value will raise.

Its true that bitcoin is not backed by any assets.The main reason people like to invest in bitcoins is it has various positive factors.First it is free from the hands of government.So people find it to be a safe haven.Secondly,it could not be hacked when kept safely in a wallet.Thirdly it has a limited supply of only 21 million dollars unlike USD and gold which are found to be infinite.So its free from inflation.More over,increasing demand has made its price to skyrocket.All these factors have paved the way for bitcoin to reach such a high price in very small duration of time.

"But when you take a hard look at the last few years, it’s hard to deny that the run-up is starting to look shaky. And compared with past events, the rise of cryptocurrencies has all the hallmarks of a disaster waiting to happen."

"Unsurprisingly, this one-dimensional view encourages a herd mentality. While early adopters tend to have at least peripheral knowledge of the investment in question, eventually those without any understanding of finance or investing are sucked in simply by the promise of returns. Case in point: Nearly 1 in 3 millennials would rather own bitcoin than stocks, according to a November report"

"If you’ve made a ton of money in bitcoin then good for you. But new money needs to know the state of play and heed these warning signs before simply jumping in. Because at best it’s a mature rally that has already achieved much of its gains, and at worst it’s a recipe for disaster as you buy at or near the top."

https://www.marketwatch.com/story/yes-the-rise-of-bitcoin-has-all-the-hallmarks-of-a-disaster-waiting-to-happen-2017-12-12

Exactly! When I argue with people whether bitcoin is bubble or not, I always mention dot-com bubble in late 90s. They are way to similar. I think that if the BTC price won't stop growing so fast the bubble will blow eventually.

Bitcoin's boom in the market, explained by CNN's financial advisor, may be due to three reasons: First, the buying from Chinese investors is so great; Second, the belief that this currency will grow, pushing up the value of the currency; Third, buyers may be eagerly awaiting Goldman Sachs to buy and sell this currency

It does feel like people are delusional when it comes to this. Rich is a relative term. You can't be rich without someone being poor.

That same concept applies to bitcoin profits. Everyone can't make 1000x their money or more. There has to be losers. There's going to be a giant wakeup call whenever Bitcoin starts to trend down. I think the drop will be even faster than the rise was.

I have to say bitcoin is foam, but bitcoin is not a bubble. I think there will be many applications combined with bitcoin in the near future. It has an intrinsic value.