what do you think will happen on bitcoin after several years?
i expect that bitcoin will a more bigger continuities and maybe that we can use bitcoin currency in public like buying in a supermarket cause we alk know that technology in our world was growing in every second that's only what I'm thinking
what about your thoughts?

An economy is a zone of the production, appropriation, or exchange, and utilization of merchandise and enterprises by various operators. Comprehended in its broadest sense, 'The economy is characterized as a social area that underlines the practices, talks, and material articulations related with the production, utilize, and administration of assets'. Monetary specialists can be people, organizations, associations, or governments.

I got into the bitcoin again last year after losing all my 4.5 bitcoins to ponzi schemes early last year. I bought in bitcoin again at $20k. Now bitcoin is $6k+.  I'm regretting my actions.  

Discuss about bitcoin and cryptocurrency. For me, this is an interesting topic because bitcoin issues are often the talk, including confusion in many quarters. What is cryptocurrency? What is bitcoin? How does the regulator respond to the development of the current crypto currency? And how is the bitcoin phenomenon going forward?

In its purest form, cryptocurrency or crypto currency is a kind of electronic cash that can be sent directly from person to person (peer-to-peer) without going through financial institutions, or banks. Generally if we are currently sending funds or money to other parties, of course, must be processed through the bank. In this case, the bank serves as an intermediary. Well in this crypto technology, the payment is made directly without an intermediary. Transactions conducted between two parties in a network are then verified through a specific encoding process or cryptography. Well, Bitcoin is one of the existing cryptocurrency types, and is popular. In addition to Bitcoin there are more than a few crypto currencies similar to various names, such as ethereum, litecoin, etc. Many of these crypto currencies are short of devotees until they die one by one. In Bitcoin, if there are transactions of two persons, the other party in the network that can decode or verify the occurrence of the transaction, will be rewarded with bitcoin. This step is known as mining bitcoin (mining).

From what I've learned before, that David Yermack, researcher at the Bureau of Economic Research, New York University (2016) that bitcoin still fails to meet the criteria as a currency. It cites the basic functions of a currency, the medium of exchange, the a store of value, and the unit of account. Of the three criteria, bitcoin does not qualify as money. Yermack doubts that bitcoin can be a currency or means of payment acceptable to today's audiences. I agree with the analysis. If we look at bitcoin volatility in recent years is very high, much higher than the existing currency. This has an impact on the difficulty of calculating the short-term risks of bitcoin. In addition, the exchange rate of bitcoin in the day to day does not correlate at all with any currency in the world, nor with commodities such as gold for example. This makes bitcoin useless in risk management and difficult for the owner to hedge.

Let's look at one by one the money function on bitcoin for more details. First, as a medium of exchange. Bitcoin has no intrinsic value, so its value will depend largely on its usefulness in the economy or consumption. But in reality, today is still very small parties who use bitcoin in everyday life to make various payments. Few traders (merchants) are willing to accept bitcoin. Some countries such as Japan, for example, allow bitcoin to be used as a means of payment (not as legal tender or legal currency). But if we go to Japan, just a few, not to say very little, the store is willing to accept payment with bitcoin. Especially in other countries, including Indonesia. In other words, payments using bitcoins are currently very rare.

Second, as a unit of account. For users or buyers, we certainly look for ease in buying goods. For example, a bowl of chicken noodles cost Rp 25 thousand, a cup of coffee costs Rp 15 thousand. This will make it easy to calculate. But in the use of bitcoin, various problems arise, mainly due to its extreme volatility. The value of bitcoin can vary drastically from minute to minute. This makes it difficult for the seller to determine the price of an item. In addition, there is no uniform or fixed market price associated with bitcoin. I also tried to check on some bitcoin markets around the world, and the prices vary. This disparity, in the theory of market value, violates the law of one price for a currency. Why breaking? Because it is open most likely people to do arbitrage in the same market (buy cheap and sell high in commodities and the same time).

Third, as a store of value. When a currency serves as a store of value, the owner certainly has the expectation that the currency he holds can be obtained easily and can be redeemed for future goods or services as needed. The economic value of goods or services purchased in the future is expected to be equal to the money used or stored now.

From the above analysis it can be seen that Bitcoin, according to Yarmeck (2016), still can not meet the criteria as money because it has the deficiencies as above. Generally people currently hold bitcoin instead of being used as a means of payment, but rather to speculative investment. Bitcoin is also increasingly difficult to accept because it is disconnected with the payment system and banking in many countries, because most authorities in the world forbid it to be used as a means of payment.

Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).

I once read for security wallet,
this is just for discussion how to secure the wallet. I do not think there is a security system and there will be no theft in the wallet.

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too! Thieves can also take your bitcoin if it gets access. Consider the following tips to avoid losses:

Perform regular backups regularly
Save the backup on another device like in flash or another computer.
Use the encryption feature
With encryption, each transaction requires a login with a password. This prevents thieves who manage to gain access to your computer.
Do not forget the password
Losing a password equals losing your money! Wallet does not provide a password forgot feature.
Learn more please learn how to secure your wallet here: http://bitcoin.org/en/secure-your-wallet

Do you guys have a better idea to avoid theft in the wallet?
Your Knowledge and Ideas will be more helpful if shared.

We, as physically and intellectually healthy individuals, strive and survive to achieve our dreams, establish our roles in the society and fulfill our needs and wants. But in order to do this, we are also required to be financially healthy. The lingering fact is that money is not achievable as a single candy you can buy in the store. Sometimes, people risk their lives and reputation just to get a handful. Bitcoins are not officially a currency that you can just see in a certain country, that are being utilized and used. So, is dealing with bitcoins and other things related to it also puts us in a risky gamble?

As a digital payment system virtual currency has its own reputation. Bitcoin raised as strong virtual currency in 2010. Today’s global currency is developed in different way and comparing with others currency bitcoin is like more valuable than gold. Good reflection and better control system can make more valuable in economic sector. now by the help of bitcoin selling and buying system is easier than other transection. At age of technology we can collect or hire so many proficient worker for the purpose of different sector’s development and then we can provide their salary through bitcoins because of its popularity.
On above this conversation we don’t need to worry about future of  virtual currency or bitcoins.

When big boys enter the picture, the rule has changed. Bitcoin then becoming a fprm of investments, and no longer the original vision of satoshi, iguess its really inevitable, specially during the 2016-2017 when it peaked at around$20,000. It become a speculative asset, and others tske that as a opportunity, trying to make quick bucks, or even putting thier whole life-savings hoping to become rich.

After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Most probably in this section are users that are interested mostly in Economics, so I want to know why Economics attracts you?

I engaged with young people and layman people in my communities on the quest of exposing them to cryptocurrency. During the period I discovered that they find It so difficult to understand the concepts, they are so much acquainted with fiat currency and traditional ways of making payment transactions.
I will be impress If I can get a valuable ways and methods in making them understand what cryptocurrency is all about and engage them actively.

In Trading, there are two categories of people, those who want to increase their bitcoin volume, and those who want to increase their dollar volume. Which one do you prefer?Why?

To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

I'm gonna be honest with you all , i have been trading/investing since 2017.



I earned about 110.000 by trading and basically lost it all, i decided to sell the rest and just quit. I'm gonna explain why, this cryptocurrency market
is very manipulative and can easily be controlled and it will never stop. The icos/alts will always keep sucking all the btc cash so it will always be hard for btc to grow and
dominate.



This market is made to make money and profit from noobs it's like a bitconnect scheme. Every dollar that is made by someone, someone will lose money. Every dollar that
is made in this system will be sold to fiat and if there is low btc buy power it will mean that btc will only keep going down. This market is basically made to make
money from new users like a scheme. For example can you actually believe that if you would've put 10k usd into bitconnect you would have a monthly return of about 4500
every month by lending? This is unbelievably high which again means for every btc/dollar you lend out into this cryptocurrency system = someone will lose money that's
the main reason this market won't be there for long. Because it's basically a pyramid scheme.

See:

There Is No Escaping History.  Fiat Currency Eventually Fails.

Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard.  Fiat money is a rare occurrence in modern history.  (We live in strange times!)  As we can see, the examples found by the author are a small number of short periods here and there.

I have my own critique of gold/silver standards, but that's another issue.

My answer to the principle is: NO

Bitcoin is money, the value of money is built on confidence, tradition and security, attributes that Bitcoin offers easily. The analogy between Bitcoin and social networks is completely incorrect, people think that Bitcoin is an myspace that will be replaced by facebook. It turns out that Bitcoin is money and not a social network, so this comparison is completely wrong.

Most of mankind's wealth resides in vaults for hundreds of years, so the circulating medium is derisory close to it. Why are we going to need fast, no-fee coins if we can use paper money and banks? Bitcoin's purpose is to be a safe asset, scarce and superior to gold. What is behind Bitcoin is the fact that no politician can steal you through taxes or inflation, there is nothing safer than Blockchain and Bitcoin. So far no technologically superior currency has emerged to Bitcoin to the point of provoking an abyss between technologies and will hardly emerge.

BUY BITCOIN TODAY AND ALWAYS.

What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?

Those holding btc just brace yourself fasten  your seat bet for possible vortex of price.