Topic: Will BTC survive, BTC value prediction ? (Read 1128 times)

Community needs somehow to add value to LTC , I see BTC rise in value as of Butterfly/AVALON accepting only BTC so people had to trade USD/EUR for BTC thus lowering availability of BTC.
I don't see why should anybody trade fiat for LTC. This is IMHO I am not an economist but you need somehow to add a value to the coin, mining it wont rise it much and trading it for BTC would just drop the price, so GPU guys may even stick with BTC untill profitability is -0.01 than sell GPUs and buy ASIC as there will be lot of ASIC on a market to buy by the end of the year. Of course I may be completely wrong I am still a newbie

As I posted in another tread...
As far as in next few months ASIC's hit the market it is the question of time, probably few months, for difficulty of btc to go high enough, so all non-asic miners will stop mining, the only alternative, as I see it,  the litecoin (is the only another promising alt coin)  which will allow them to continue mining.
Current ratio litecoins to bitcoin is about 1:44
So, what we might see next, litecoin market will start getting new miners who is switching from btc with their GPU boards... which is good for litecoin, more people, more trading the litecoin price might go up in first, that means that all these people could buy btc simply by trading their ltc for btc, this is what I think will happen in the beginning, ltc will rise, on other hand btc market will have less traders, which could push down btc even more and make ltc/btc ratio even more smaller, but after that, as far as of now most people and investors(venture capital etc) believe that only bitcoin is the only real internet currency, all those thousand of new ltc miners that join ltc after dumping btc, will start to trade their ltc to btc, which will push btc high, taking in account that suddenly there will be a lot of people trading their ltc for btc, btc price will rise much higher then current level...

i think it will go up to 200$ again by the end of the year.

1. I see bitcoin being worth about £75 at the end of the year and as more peps mine the value being about the same unless some way is found to take some of the currency out of the system

3. more shops accept it more peps want it more mining more chance of the value going up but only if see 1.

I support this oppinion too.
Bitcoin is hated by tax services around the world because it CAN be used for illegal things but it's not always like that.
Shops can accept bitcoin as a alternative currency that can be saved or exchanged making a business more profit with the same price for a product.

I understand that many non processing business will just benefit adopting BTC.
My point is that if PayPal revenue per year is $5600 Million and if they loose lets say 5%  of that lump as more users are switching to BTC
that's $280 Mil. loss per year , so theoretically they can invest $100 Mil to develop miners that can take >51% of network hashing power, in that case they own BTC  , that was my OP question #1  is this feasible? 

No it's not.

If you do business with american customers, american govt wants you to register your company in america otherwise they will shutdown your company and charge money laundering case.

if you do business with american companies like BFL, they don't need to register their company in your country. They can scam you and you won't be able to do anything.

Iron out transaction fees. They should be automatically be adjusted to the transaction in question.

could be, but what would be better?
What could we add or subtract that would improve BTC?

good question.
but i think BTC is a pioneer. Maybe some better digital coin will replace it in the future.
survive ? NO .
value ? None .

Are there really 'american' companies anymore? Isn't everything pretty much global?

If some country/Company will ever create problems to bitcoin. It will be America/American companies.

Mark my words.

Lol you're talking of direct competing companies? Of course they won't like competition! But think of this in terms of a neutral business that isn't in the business of processing payments. How much of the economy do you think Paypal/Visa/Mastercard make up anyway?

Yup so it does a lot of damage to those kind of companies , where their biz model is on taking fees per transaction
Paypal revenue in 2012
Revenue    US$5.6 billion (2012) - by Wikipedia

If you are decision maker in PayPal what would you do , adopt BTC ?

BTC is definitely here to stay.

As more and more businesses adopt it, and the whole infrastructure matures and becomes easier for non-geeks to use, BTC will only get bigger and stronger.

As for a value prediction, its not hard to imagine $1000+ ... though that may take a few years to get there.

Fees

OK can you answer me this question , how does PayPal make money ?

one in which they don't have to pay the astounding transaction costs of companies like visa

I stopped reading here. What? Why? It is just a payment system, it doesn't threaten any business (it does challenge the governments by bypassing the official currency routes that can be taxed). Businesses can adopt Bitcoin if they want as an alternate to their existing payment systems.

I doubt this year. But possible price for next year.