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Topic: The future of BTC... is there one? - page 2. (Read 2463 times)

sr. member
Activity: 378
Merit: 250
January 29, 2015, 10:39:05 PM
#23
Bitcoin decentralized system made many refer to it as the Internet for money. If the Internet is revolutionizing the way the global communications, Bitcoin is believed to change the way the world uses money.

Therefore, Bitcoin often predicted as the currency of the future.
hero member
Activity: 583
Merit: 500
January 29, 2015, 10:06:47 PM
#22
The only reason the price of BTC isn't higher is because so many of us have already put all of our extra money into BTC.  There is a huge demand among the few early adopters, and most of us would buy another 5btc right now if we had the money.  But we already bought those 5btc last year.  We're buying more as we are able - but so are the growing numbers of new adopters.  Since there are relatively few of us right now, that means it will only take a few more people to double our numbers and therefore double the demand for btc.

demand is just getting bigger, we will see a lot more people willing to play with bitcoin once the regulated exchanges become 100% license, their still a lot of money out their to put in this type of technologies.
sr. member
Activity: 518
Merit: 250
January 29, 2015, 10:05:50 PM
#21
I see your point, and it reminds us that we as humans are out of place in this world.  Of all the animals, we alone need money. 

In fact, a carrot is a close as a rabbit gets to a diamond.
legendary
Activity: 1456
Merit: 1010
Ad maiora!
January 29, 2015, 09:55:08 PM
#20
true runpaint,

and, of course, sentiment is at an all time low, maybe, at least it's down there anyways. Sentiment can make or break, and there's a lot of wonky news, good and bad, plus there are many who bought waaaaay high and are most likely losing sleep/hair/mental health right now. The tears are louder than the success stories.

I'm really hoping for the moon, its why I got in, SPENDING WAY LESS THAN I CAN AFFORD TO LOSE, unlike like many a many crazy ATH adopters who are no doubt pretty sour on the whole crypto scene right about ... the last year or so!

This is what I see in my crystal ball; BTC is not like the internet. BTC is like mobile phones. They existed, at the consumer level, in the 80s! they were prohibitively expensive, unwieldy huge, you could only call other people who owned one, they became the butt of jokes. The general public was loath to accept the idea, no one wanted it except insane yuppies (see American Psycho)

Now every single last one of you, your parents, their parents, your kids, everyone you see or meet... they all have a mobile phone. The very meaning of the word "phone" has changed. the world changed.

give BTC a few more years of trials and tribulations. If it survives...moon. If not...c'est la vie.

Its only money...

sr. member
Activity: 518
Merit: 250
January 29, 2015, 08:29:49 PM
#19
The only reason the price of BTC isn't higher is because so many of us have already put all of our extra money into BTC.  There is a huge demand among the few early adopters, and most of us would buy another 5btc right now if we had the money.  But we already bought those 5btc last year.  We're buying more as we are able - but so are the growing numbers of new adopters.  Since there are relatively few of us right now, that means it will only take a few more people to double our numbers and therefore double the demand for btc.
full member
Activity: 224
Merit: 100
January 29, 2015, 08:28:32 PM
#18
Bitcoin will not go away however its value and economy might collapse to what it used to be. Single digit values. IF it drops to $100 or so its going to be a freefall downward after since the difficulty and 90% of companies can not sustain at that price.

I think the same. The value might crash, but it still will exist. It has after all. The only difference for merchants, would be they will be selling somethings at the monetary value, but not hoarding the bitcoins for price rise. I just wonder how will the value be stable at even single or double digits .
legendary
Activity: 1176
Merit: 1001
January 29, 2015, 08:24:26 PM
#17
There is a future in BTC because I, for one, will start a new business around it this Spring, and I'm not the only one making projects. There are dozens of start-ups working on BTC right now.
Excellent. With more and more start-ups appearing every day, it's obvious that Bitcoin is getting bigger and bigger. May I ask what your business will be about? Or do you prefer to not announce details until the actually launch. Either way, good luck and godspeed, sir, in your endeavours!
legendary
Activity: 3052
Merit: 1047
Your country may be your worst enemy
January 29, 2015, 08:20:07 PM
#16
There is a future in BTC because I, for one, will start a new business around it this Spring, and I'm not the only one making projects. There are dozens of start-ups working on BTC right now.
legendary
Activity: 1176
Merit: 1001
January 29, 2015, 07:48:12 PM
#15
It's all about demand.

If the outside economy thinks there is place for Bitcoin to function as optional payment method, then it will stay.

At some point if there is not enough demand it will slowly fade away. That's with everything in life.
In that case, it's the Dollar and Euro that will fade away. My guess, it'll happen in a decade or two, three from now.

There is by no means enough demand for the trillions (or, in fact, the practically infinite amounts) of fiat they're printing out of thin air.
legendary
Activity: 1176
Merit: 1001
January 29, 2015, 07:43:27 PM
#14
Considering that, according to CEX-IO CEO Jeff Smith, "...$320 (per BTC) would be the price point at which most miners will get out of the red..."), and since we are presently at 26% BELOW that mark, one has to reasonable ask: What is the future of BTC AND, Is there one at all?

Complete and utter bullshit.

There is NO price level at which mining bitcoins is profitable or unprofitable. The thing is, it solely depends on how many people are mining.

So, yes, there IS a future of Bitcoin. One where the number of miners will always be a dynamic equilibrium of their combined hashing power costs, versus the current block reward. Like it was always intended to.

No matter the Bitcoin price level - by definition, mining will ALWAYS remain profitable for 'enough' people.
legendary
Activity: 1260
Merit: 1003
January 29, 2015, 07:18:08 PM
#13
Exactly. People complain about the low price, yet they persist on selling so low or 'using' via merchants that directly convert 100% Bitcoins into USD.
This is better for people who purchase bitcoins now, because if the price rises up, they will have more money. Tongue
legendary
Activity: 2674
Merit: 2965
Terminated.
January 29, 2015, 06:51:32 PM
#12
Bitcoin is worth $1250/USD until a new ATH is reached. People need to stop fucking selling at a loss.
Exactly. People complain about the low price, yet they persist on selling so low or 'using' via merchants that directly convert 100% Bitcoins into USD.
legendary
Activity: 3010
Merit: 1031
RIP Mommy
January 29, 2015, 06:49:45 PM
#11
Bitcoin is worth $1250/USD until a new ATH is reached. People need to stop fucking selling at a loss.
legendary
Activity: 2170
Merit: 1427
January 29, 2015, 05:04:47 PM
#10
It's all about demand.

If the outside economy thinks there is place for Bitcoin to function as optional payment method, then it will stay.

At some point if there is not enough demand it will slowly fade away. That's with everything in life.
legendary
Activity: 1442
Merit: 1179
January 29, 2015, 04:27:50 PM
#9
Bitcoin will never end, period. Even if it fades away, price drops to < $1 USD and something else takes it's place; there will always be hardcore fans that will be willing to mine for free, run bitcion-qt or willing to pay for coins.
legendary
Activity: 1260
Merit: 1003
January 29, 2015, 04:13:45 PM
#8
Bitcoin will be around for years to come. This is inevitable. Far too much money is invested for it to suddenly collapse. Many fail to understand who the key holders are of the top 100 addresses or so. Time will release all of the info we so very much crave.

It's not inevitable. Read his post. It's not sustainable if the value drops and stays below what is profitable to the miners. If they're losing money mining why would they bother? They'd be forced to stop and without miners mining that would be the end of btc.
That doesn't happen.

If the price is too low, SOME miners could shut down their mining hardware, so the rest of the miners will have less competitors.

And if the price rises too fast, new miners will enter, so the money will be almost the same.
sr. member
Activity: 324
Merit: 250
January 29, 2015, 04:08:18 PM
#7
Bitcoin will be around for years to come. This is inevitable. Far too much money is invested for it to suddenly collapse. Many fail to understand who the key holders are of the top 100 addresses or so. Time will release all of the info we so very much crave.

It's not inevitable. Read his post. It's not sustainable if the value drops and stays below what is profitable to the miners. If they're losing money mining why would they bother? They'd be forced to stop and without miners mining that would be the end of btc.

People were mining when the value of Bitcoin was $0.

The network adjusts to variations in the network hashrate. If some miners decide to stop mining, the difficulty drops and mining becomes more profitable for those that continue to mine.

Also, I know a lot of miners that don't have to pay anything extra for their electricity so there is no reason for them stop.  

You can't compare the early days of mining to now. The cost of electricity and hardware was next to zero to mine back then and it was a hobby for most. Now it's more than a hobby and a costly business. I can also guarantee you the big miners are not getting their electricity for free. If all the big miners dropped out and it was left just to smaller ones I think we could see trouble.I guess only time will tell.
sr. member
Activity: 302
Merit: 250
January 29, 2015, 03:58:50 PM
#6
Bitcoin will be around for years to come. This is inevitable. Far too much money is invested for it to suddenly collapse. Many fail to understand who the key holders are of the top 100 addresses or so. Time will release all of the info we so very much crave.

It's not inevitable. Read his post. It's not sustainable if the value drops and stays below what is profitable to the miners. If they're losing money mining why would they bother? They'd be forced to stop and without miners mining that would be the end of btc.

People were mining when the value of Bitcoin was $0.

The network adjusts to variations in the network hashrate. If some miners decide to stop mining, the difficulty drops and mining becomes more profitable for those that continue to mine.

Also, I know a lot of miners that don't have to pay anything extra for their electricity so there is no reason for them stop.  
legendary
Activity: 3374
Merit: 1824
January 29, 2015, 03:56:20 PM
#5
Bitcoin will be around for years to come. This is inevitable. Far too much money is invested for it to suddenly collapse. Many fail to understand who the key holders are of the top 100 addresses or so. Time will release all of the info we so very much crave.

It's not inevitable. Read his post. It's not sustainable if the value drops and stays below what is profitable to the miners. If they're losing money mining why would they bother? They'd be forced to stop and without miners mining that would be the end of btc.

I agree with you.
Right now, bitcoin is very unstable, price going down already long time, many bitcoin users selling in panic, still not many ''big merchants'' didn't accept BTC...
Yes, BTC can stay forever, but if many people give up from BTC and choose some other virtual currency, I'm affraid that our future with BTC will not be bright...
Hope that I'm wrong here.
legendary
Activity: 924
Merit: 1000
January 29, 2015, 03:52:34 PM
#4
Bitcoin will not go away however its value and economy might collapse to what it used to be. Single digit values. IF it drops to $100 or so its going to be a freefall downward after since the difficulty and 90% of companies can not sustain at that price.
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