The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
In the early days of internet, these same critics were depicted
Topic: The Price Is Right - page 2. (Read 2458 times)
The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
In the early days of internet, these same critics were depicted
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
A 1% adoption rate would be fantastic. That would be 70 million people using Bitcoin. If you replace 1% of the $16 trillion monetary base with bitcoin, 1 bitcoin will be worth $12,000.
woww that is interesting fact to know about that, if that is going to happen in near future and Bitcoin price dramatically increase to the this level 1 Bitcoin = $12.000 than i will be millionaire, i wish that prediction will become true very soon,
for Bitcoin price rise more adoption, more merchant and more public awareness would helpful to go to the moon.
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
Think about it: Why would someone convert their fiat into BTC so they can then go to Taco Bell, or Wal-Mart, or fill in the blank, and buy a bean burrito with bitcoin? The additional exchange step is unneeded. To make matters worse you have to keep a record of capital gains. And buying bitcoin is not easy.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
Steve Jobs and Bill Gates created something that everyone wants, Satoshi created something that every criminal wants. Fortunately, there are a lot of criminals in the world to sustain the currency, but there's not enough ordinary consumer demand to get bitcoin mainstream.
what about integrating bitcoin, in something that everyone wants, like products from appale or microsoft? or payment in bitcoin for youtube video? the real problem is that merchants are still offering fiat between the payment options, and it's obvious that many will still choose them, we should force those people to choose bitcoin, by removing other payment options, this could be not an elegant solution i know....
I agree like you, maybe if the purchase of digital products are not used FIAT then peoples will start using bitcoin
The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
bitcoin is very useful for criminal,but not only for criminal, it's also very useful for gambling site, a lot of gambling site were developed recently. In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Basically everyone not investing as much as possible into trying to stack up on BTC is committing a really serious mistake that will haunt them to the grave. This low price has been a blessing for me, I thought it was game over after we crossed 700 (price too high to stack anything remarkable).
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
So, if this is the case, how come the price s been constantly going down during this and previous year? Fundamentals which you have mentioned ve been the same.
Quote
I'm not sure why anyone would be concerned about investing in the technology...
The answer is simple: enormous price drop in the last 2 years, almost no price increase compared to 2013.
I also think we are at the bottom at $200 but going up from here can take months. Some people don't want to wait that long and there are other investments to choose from.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
A 1% adoption rate would be fantastic. That would be 70 million people using Bitcoin. If you replace 1% of the $16 trillion monetary base with bitcoin, 1 bitcoin will be worth $12,000.
this mean that for now bitcoin can only achieve a maximum price of 1.2M per coin, not bad
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
In an ideal world bitcoin's value should increase as adoption is very likely to keep on rising, but bitcoin seems to be completely unpredictable. We still get small levels of adoption daily and its use is growing yet the price only falls or stagnates.
Its because it went from $10 to $1000 very quick, right now its still pretty amazing growth vs any usual investment but more to come no doubt.
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
In an ideal world bitcoin's value should increase as adoption is very likely to keep on rising, but bitcoin seems to be completely unpredictable. We still get small levels of adoption daily and its use is growing yet the price only falls or stagnates.
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
I dont think its possible for the price not to go up in the next coupe years without almost complete death. The way that bitcoin is designed and the historical public reaction to it has meant growth in the past. It just taking the time it needs to make the next step. The average joe public just dont yet understand why its a better form of money.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
A 1% adoption rate would be fantastic. That would be 70 million people using Bitcoin. If you replace 1% of the $16 trillion monetary base with bitcoin, 1 bitcoin will be worth $12,000.
yeah, 1% would be huge. thank you!
for the rest of you: BTC is not just a "coin"...
https://www.youtube.com/watch?v=O0oDDIy0P2s
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
A 1% adoption rate would be fantastic. That would be 70 million people using Bitcoin. If you replace 1% of the $16 trillion monetary base with bitcoin, 1 bitcoin will be worth $12,000.
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
Think about it: Why would someone convert their fiat into BTC so they can then go to Taco Bell, or Wal-Mart, or fill in the blank, and buy a bean burrito with bitcoin? The additional exchange step is unneeded. To make matters worse you have to keep a record of capital gains. And buying bitcoin is not easy.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
Steve Jobs and Bill Gates created something that everyone wants, Satoshi created something that every criminal wants. Fortunately, there are a lot of criminals in the world to sustain the currency, but there's not enough ordinary consumer demand to get bitcoin mainstream.
Wow calling all Bitcoin users criminals? There are loads of people out there, who are not criminals and they use Bitcoin every day.
Most people convert to BTC because other centralized online payment systems are simply not secure.
Lots of these people are sick of having to pay high fees for sending their own money to families in other countries.
The price drop was simply a panic sell of a few people on localbitcoins.com, who thought it was taken down, when they had technical difficulties yesterday.... Now everyone is going on about prices again.. and how bad Bitcoin is.
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
Think about it: Why would someone convert their fiat into BTC so they can then go to Taco Bell, or Wal-Mart, or fill in the blank, and buy a bean burrito with bitcoin? The additional exchange step is unneeded. To make matters worse you have to keep a record of capital gains. And buying bitcoin is not easy.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
Steve Jobs and Bill Gates created something that everyone wants, Satoshi created something that every criminal wants. Fortunately, there are a lot of criminals in the world to sustain the currency, but there's not enough ordinary consumer demand to get bitcoin mainstream.
what about integrating bitcoin, in something that everyone wants, like products from appale or microsoft? or payment in bitcoin for youtube video? the real problem is that merchants are still offering fiat between the payment options, and it's obvious that many will still choose them, we should force those people to choose bitcoin, by removing other payment options, this could be not an elegant solution i know....
maybe
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
It is a common sense that every single investment comes with some amount of risk, which should be avoided at some extent by the investors. Can we imagine what the ppl who bought at $1200 / Bitcoin is thinking about now? For them it was nightmare and they almost lost 82% of their initial investment! Then we are still talking about the potential of bitcoin at the current time. Does it make any sense? Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
agree with op. Bitcoin is the leading cryptocurrecy, whose fate connects with the other crytpcurrencies. Bitcoin has some issues before, such as double spending, 51% attact etc, which are resolved at the end. Maybe we will encounter some issues in the future, but we will fix them.
Quote
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
As the adoption rate grows, we will see the price will increase. 
In the simplest form how would it be possible for the price not to rise substantially in the next couple of years?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
Diminishing supply + growing exposure + exponential investment + trading options = positive price increase.
I'm not sure why anyone would be concerned about investing in the technology... this is a great time to expand the wallet.
How many will be regretful for not taking advantage of early 2015 pricing?
The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)
Think about it: Why would someone convert their fiat into BTC so they can then go to Taco Bell, or Wal-Mart, or fill in the blank, and buy a bean burrito with bitcoin? The additional exchange step is unneeded. To make matters worse you have to keep a record of capital gains. And buying bitcoin is not easy.
Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.
Steve Jobs and Bill Gates created something that everyone wants, Satoshi created something that every criminal wants. Fortunately, there are a lot of criminals in the world to sustain the currency, but there's not enough ordinary consumer demand to get bitcoin mainstream.
There are lots of ways. One giant way is a critical bug is found that kills bitcoin.
But assuming no technical issues, you have an ever increasing supply at a steady, known rate and an erratic uptake of the ecosystem with a sporadic demand. Couple that with the fact that miners will immediately sell their coins to pay for their costs and you have a lot of coins going into the market and not many coming out. Most merchants do not hold or use their bitcoins, they convert them to fiat.
That is only two of the ways the cost of a bitcoin could go down in the next few years. How likely is that? I don't know. There are many other scenarios where it could go down (and likely will go down) as well.
Bitcoin being used as a secure method of value transfer, but not storage would see the price plummet quite a bit as well, since it would be considered to have no utility beyond a secure transfer mechanism, so the price would stabilize right around what it costs to create and/or store one, which is very little once you take initial hardware costs out of the equation.
But assuming no technical issues, you have an ever increasing supply at a steady, known rate and an erratic uptake of the ecosystem with a sporadic demand. Couple that with the fact that miners will immediately sell their coins to pay for their costs and you have a lot of coins going into the market and not many coming out. Most merchants do not hold or use their bitcoins, they convert them to fiat.
That is only two of the ways the cost of a bitcoin could go down in the next few years. How likely is that? I don't know. There are many other scenarios where it could go down (and likely will go down) as well.
Bitcoin being used as a secure method of value transfer, but not storage would see the price plummet quite a bit as well, since it would be considered to have no utility beyond a secure transfer mechanism, so the price would stabilize right around what it costs to create and/or store one, which is very little once you take initial hardware costs out of the equation.
Jump to: