Topic: What do you guess about he future of bitcoin? - page 32. (Read 46282 times)

lol

i think humanity is nullified without electricity.  I remember a year ago we had Glaze ice. Since most of electric power lines are not berried in ground but on surface and since we have lots of trees that in glaze ice make them brake and collapse on this power lines. So it happened that some people was almost a week without electricity. It was end of winter or early spring time like few months back from now. Not that is freezing but is still cold. People had no heating and also because of no TV and internet they also felt abandoned also communication was really disabled.

When you have electricity you dont really see you need it. Once you dont have it for few days you only realize how your life would change. But how would if change if there would not be any anywhere on the world?

Bitcoin can become more stable if it ever reaches critical mass and millions if not billions of peeps adopt it and use it as a store of wealth and as a merchant currency but until that happens the whales and other big bitcoin peeps will play with it up and down like a yoyo on the exchanges.

Anybodies guess is as good as the other really. Nobody knows what is going to happen with bitcoin so everybody just uses their own bias. Bitcoin could become a worldwide phenomenon or it could fizzle into obscurity or just stay relatively the same. I guess we can only wait and see.

do your own research and observe, dont believe some the economist predictions.

Use your own history as reference, and your own judgement on what they dont see. Cause most of their content is usually just PR related and thats about it.

Dont believe MSM economists, they are idiots or they are paid-by-corps, in any case dont trust them.

I`m an economist and i analized bitcoin's data, and it looks bright for me.

The big price increase pump & dump was only happening because the value of it was overestimated, and it came down, but in my opinion the value is now = to the price, that is why it stopped increasing & decreasing too.

But if you see the latest news:
http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/

This will open up new gates for bitcoin, and i think by the end of this year we will see a bigger price increase.

I was just commenting in context of the Economist,the public perception is most likely not far from that. Looking at your graph,I think they started just before it started to go downward. So they picked the current trend more than the overall look.

Again not really my personal take,just what I seem to read from magazines that the everyday folks look at.

Actually Bitcoin is doing a fine job, if you check the logarithmic chart of BTC price, it is going up since inception.

A logarithmic chart shows the natural growth of things, and it's always correct:

In one of the recent economists they had a article about banking and the tech that is changing the way banks do things. It mentioned bitcoin but also showed a graph to indicate it has seen better days. Think we need to get attached to Playstation or Xbox to get some kind of a up tick. The kids need to buy in more than any other group to make this work.

Maybe, i think after the halving the price will dramatically start to increase, no doubt, halved inflation is something to look out for!

Bitcoin will be never world reserve currency,it is not even currency yet,and it will be not for long time
i know that blockchain has to be improved,better nodes
Whatwill happen,it could be more easy to estimate after halving in early 2016

What do you mean to go offline? Can you mine offline too?

Yeah, I meant to clear that up for new faces in bitcoin who arent aware of it, who are in the same category on not knowing how to back up balances like a wall.dat file. So basically all newbies.

But, I`m concern on what you mentioned more is after the whole mining scene, on whats considered a justified transaction fee. I wouldnt want to send 1 btc, and spend like .34 btc in fees or something.

And another concern for me would be the mining farms that do decide to go off-line.

Alot of good news are coming in and whatever instability you talk about, it is going to stabilize soon:

NASDAQ btc based index = clear gateway to the moon as wallst can now flush bitcoin with dollars:

http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/

It's not currently stable and that's clear for all to say, though I agree it may stabilize in the future but I'm sceptical. I think a best case scenario would be for it  to be very volatile for a few years then gradually taper off and stabilize at a decent price.

Even USD has some fluctuations if you compare it to the currencies of another country but thats not the issue though


Double spending is an issue but it is not the main issue here. The main issue would be its slow transactions process which needs an average of 1 confirmation/10 minutes


If we are talking about the future of BTC. I would assume that it will be use in general by most people. Probelm is not everyone knows how to spot this things as most people are techsavvy. You cant expect the elder to spot a double spend if they were to use BTC as transaction


It will depends on the value of BTC itself. Most people stop mining due to that the cost of mining > the value of BTC. Once all BTC mined, I think it is safe to assume that the value of the coins might be high . Since people wont be mining all BTC if the cost for mining is still higher tham the value of BTC though

a lot of people say thay bitcoin is not a stable currency since there are alot of fluctuations in it. but since it is a growing currency nowadays many people are using it and having profit. if it goes on like this , in future there is a chance that btc can be stable and highly secured.

Future of bitcoin? World dominance (I hope). I think the most exciting thing about bitcoins future is the uncertainty. It could take over the world or just stay a relatively underground alternative payment system. Only time will tell I guess.

Double spending is a problem for those of us who don't understand how things work. Double spending can easily be spotted. It's not a ghost that operates under the radar.

At some point a fork will land and deal with the other issues you are talking about. The only thing I agree with as being a serious problem is once all Bitcoins are mined.

You can't just expect pools and mining farms to burn lots of power and hardware for a few transaction fees, just to keep Bitcoin secure.

my current thought is all this good news and the BTC price has gone sideways and or a bit down...i mean massive amounts of good news and positive press...if/when
this 'good news' runs out ..ie the folks making these claims on btc infrastructure....now have to take a bit of time months/years or whatever to implement all of what they
wish to do and have the investment $$$ to do so

and I further 'suspect' *My SUPPOSITIONS* ....THAT  the ETF if it is approved will be the last great hurrah for a bit of time ..probably as much as a half a year
while people 'digest' all this...the investors and folk in question get around to building the nice stuff they promised us all in the 'good press' lately...and such

so baring any steady stream of good news in mass which seems to keep the price where it is at ..I would assume we would look at the same games by whales and
others in the marketplace ...and the slow but steady drip drip drip and slide of price downwards...this will accelerate IF there is another BTC scandal (about every 9 months) and/or the press decides that this slow trickle down in price and/or slow growth means they can sell more papers and web eyeballs and go the other way saying BTC is dead again...

on such a cycle I see BTC down as low as $150 .....but on the other hand the railroad tracks and infrastructure 'supposedly' is chugging along ...ie the train is being built...


so imho .....I should set some cash aside...because if I again see in the future further infrastructure gains and stuff happening with BTC as a model and the price is just going
low for whatever reason I PROBABLY should set some $$ aside to buy some more BTC..I assume this is what the kool aid drinking super bulls are doing in the market...pushing
it constantly downward in price

again just my thoughts watching this 'circus' the last 6 months on price etc

then again if BTC was to shoot up in price..I don't have to do zip and can sit on my hands.....so best to be prepared either way

but again imho looks like slow growth ..ie 2013 oct 18th when I started to mine $150 usd per btc after bubble etc today $233 usd per btc ..next year say 390 usd btc ..etc etc

but if it flows in that manner and I too have drunk the kool aid I should be setting some $$$ aside in case the next big press FUD or scandal or just slow drip decline puts me
at a place where I say 'damn why did I not set some money aside for this..it was so obvious in hindsight"

again if I am wrong I won't have to do zip..if it goes up in price on the next bubble....I can just sit back and grin.......

anyway my 'guess' plan? on wtf to do about BTC within say the next 6-9 months for what it is worth

(again i drank the bfl kool aid at one time..got a refund ...but still my mental facilities for believing that 'cult' should make everyone suspect that I really know wtf I'm talking about)

but then again setting $$$ aside for a price drop and hoping for a huge price rise...well....we also serve who 'straddle the fence"

I wouldnt stress on it too much, but eventually it can be used officially as a financial tool for something.

It could be a potential universal GDP kinda thing for all countries, and each represents a significant value on their debt to ratio. Whenever they do decide to lend to one another with their international money.  Hopefully it can be a reserve currency to them?