Bitcoin won't break $500 a coin, likely will sit around the ~$250 range with occasional jumps over $300 and below $200.
People need to start comparing Bitcoin to other payment methods, and they will clearly see why Bitcoin will never have enough demand to "go to the moon," most of Bitcoin's current users are speculators that have no clue what they are talking about.
Bitcoin's biggest issue is that is not consumer friendly: Buying Bitcoin is time consuming (and costly when you figure in fees associated with acquiring Bitcoin + risk of volatility), very slow (to reach 6 confirmations takes several hours... lately its been taking ~1 hour to get even a single confirmation), no ability to chargeback (this is NOT a plus), and other hassles (security issues, learning curve etc). The only thing Bitcoin is better than using the dollar for is to purchase illegal goods.
People need to start comparing Bitcoin to other payment methods, and they will clearly see why Bitcoin will never have enough demand to "go to the moon," most of Bitcoin's current users are speculators that have no clue what they are talking about.
Bitcoin's biggest issue is that is not consumer friendly: Buying Bitcoin is time consuming (and costly when you figure in fees associated with acquiring Bitcoin + risk of volatility), very slow (to reach 6 confirmations takes several hours... lately its been taking ~1 hour to get even a single confirmation), no ability to chargeback (this is NOT a plus), and other hassles (security issues, learning curve etc). The only thing Bitcoin is better than using the dollar for is to purchase illegal goods.
I see bitcoin being a bit like electric bicycles (ebikes).
There are already lots of forms of transportation and most work fine for those that prefer each type for their particular needs. I see cars as being visa etc. Ebikes will fill a niche but that niche can be quite large worldwide.
Remember bitcoin is not and never set out to offer chargebacks. agree that is a drawback if competing for the car market but not for the ebike market which bitcoin is.
Bitcoin is ideal for non chargeback situations eg sending money to friends, relatives.
Agree it is cumbersome but some of that will improve when regulated exchanges etc are set up. also just like ebikes - they are what they are eg if it rains you get wet. If you want to stay dry use a car. It stops "mass" adoption but people that use visa also want the credit that goes with it so bitcoin was never going to appeal to that part of the visa market ie be "mass adopted".
Will it go to the moon? better to think it already has - I happen to think bitcoins true price is about $60 but considering it was $2 only a few years back it has already gone to the moon if you believed in it back then. I also think it is still on a strong growth as it has not even begun to fill its niche. So i see it going above $500 in a few years if not sooner. it may never be worth $10,000 but nobody involved with bitcoin promised that. they did not promise $250 but that is where we are.
Bitcoin is the next gold value, as you can see the gold is just dissapearing from all the places some countries had it hidden, i think at some point after the economic revolution, Bitcoin will start be using as a real store of value.. and those bears will regret how they sold.
hey could you help me find one of these economic revolutions? i have been looking for one for a while now.. i dont think they make them anymore.. but if you want to start one im sure it would become popular quick. but im also sure your life expectancy, as the terrorist flavor of the day, would not be a taste u would enjoy.. the established economic order is so entrenched in the world live i think it would take some serious flavors like fuckin rocky road to take that shit down
Well just leave them as a collateral investment "waiting to explode" , but don't lose confidence on them, cause you will feel better if you lost some usd from 5, 10 or idk the amount of bitcoins you can have, than if it explodes with you having many btcs in the past but at that moment no one.
Also, those "revolutions" are just ahead the corner, you are just too adapted to your familiar environment and you cant see the evidence. I bet no one believed around 1938 the reality they were going to had just two or 3 years later.. the big changes will not make any warnings until you have them right in front of you. And for me its been a long time since all the people started complaining about the USD, EURO, economy, and all related.