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One way that bitcoin would die would be if another type of online currency became so successful that it makes people completely ignore bitcoin.
The "death" of bitcoin is probably a scenario more easily achieved than the death of cryptocurrency. Even with current rates of crypto adoption, it's unthinkable that crypto will one day fall out of use. If "death" simply means transition to another form of crypto rather than complete disuse, then this will happen naturally and inevitably as technology progresses and improves.
As long as the whole sphere progresses, then one coin is meaningless. But I doubt btc will be the first to falter, it's too well known at this point.
for me its price does not matter since i'm a holder. my aim is getting bitcoins as much as i can so that i can cash them out when we hit high prices. always focuss on its number not its price.
But mate you hold bitcoins only because they have a worth in real life, right ? I mean that would you be holding any gold in your lockers if you know it's price has been done and dusted. Even though we guys only deal in bitcoins and don't give much worth to their price but actually the price does matter a lot since we determine the worth of bitcoins according to that only.
If the "price" of Bitcoin goes to $500,000/btc (for example) and 1/2 a million bucks still buys a nice house in many areas, then the USD price does matter.
If Bitcoin jumps to $750,000 and 3/4 of a million bucks barely buys food for a few days (due to a severe collapse), then the USD price does not matter, but the BTC/gold (or gold/BTC) price would be very important.
The price is important, but the technology continuing to develop is more important. The more utility bitcoin has, the more value, and hope that yields more adoption.
Maybe this is one of there methods/way to make the price of bitcoin drop then if ever that happen
some of the community will get panic but of course thats not going to be happen.
Yes I agree with you many people do like that. Today I saw a person who was saying to one of his friend that the price of bitcoin will drop tomorrow and sell him the bitcoin with him but when I heard that I told him that no it will not decrease but it will increase more just need to wait for long term.some of the community will get panic but of course thats not going to be happen.
I wonder why people get emotional when prices fluctuate. As a trader, you need to be aware that it wont be green always, there will be a time when things arent so sunny. Losses happen
However, every situation in the world of trading is seasonal and thus should never pressure you. One thing I have discovered as to why people keep on complaining is because they started trading btc with the assumption there was no downside. Anytime the price is down and they take a loss, butthurt abound and then the FUD posts.I've read in some article abaout bitcoin which is pro and contra in its use, the conclusion is :
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering..
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering..
Sounds like bitcoin is like is selling drugs ha?
I didn't know there are some countries are prohibiting bitcoin. What kind of law is that?
The officials in those country maybe have nothing to pass a law that's why they pass a law that prohibits the usage of bitcoin. They are morons.
Just like leave the bitcoin alone and mind their own business.
This might work with big countries, though due to their sheer size the effect would be negligible (at least so I think), but with smaller countries, the net effect will be negative on the whole. The majority of small countries have export-oriented economies, and they are always stuck between the nether and the upper millstone, so to speak. On the one hand, to be competitive on the international markets they have to keep the exchange rates of the local currency low (which is good for exports and consequently to the whole country), but, on the other hand, this might lead to higher inflation (which would mean impoverishment of the population)...
In this manner, Bitcoin is neither here nor there for such smaller economies, and could potentially wreak economic chaos and devastation in them
Completely agree, For me, I usually use BTC's within a limited period after getting them so not getting this benefit but I still like seeing the balance of my old BTC addresses in blockchain.info having transacted thousands of dollars in today's value (while the TX'd value is actually few hundreds or less at time), Starting to keep BTC's now to get that kind of benefit with the price surging quickly.
Investment in Bitcoin is the best idea currently and so I'm convinced that's what drew a lot of people to Bitcoin. It's one of the many virtues that I love bitcoin. Bitcoin serves me as my own bank and gives me access to the blockchain 24/7 to access my funds from my wallet. It provides good avenue for gambling among others.
SOON = in the distant future
Dollar is so strong now. And also bitcoins are limited so i don't think that bitcoin will replace dollar soon. It's can't be at my opinion
Dollar is so strong now. And also bitcoins are limited so i don't think that bitcoin will replace dollar soon. It's can't be at my opinion
If bitcoin replaces the dollar, many early bitcoin adopters who have lots of bitcoin in store will dictate the world economy on their terms. Bitcoin supply is limited, those who have good amount of bitcoin in possession will manipulate the market and become a self proclaimed governments.
I hope bitcoin never ever replaces any fiat.
I somehow just figured today what AFAIK meant.
BitCoin is amazing in all aspects.
BitCoin is amazing in all aspects.
Don't feel bad, I was out of college for at least two years before I realized that FTW wasn't 'F*** the What?'
Sometimes it just takes a while.
It is a good subject to talk about and share our experince ..
So far I have used Poloniex.com , Cryptopia.co.nz , localbitcoin.com , poswallet.com ( but it is changing its changer status ) and bartermyfund.com ( it is very straightforward )
I have never had any problem with them. I would recommend all.
So far I have used Poloniex.com , Cryptopia.co.nz , localbitcoin.com , poswallet.com ( but it is changing its changer status ) and bartermyfund.com ( it is very straightforward )
I have never had any problem with them. I would recommend all.
I started using Poloniex recently, but had a bad experience. Had a withdrawal that never made it to the wallet, it took forever for them to respond to me (my coins did come a day later). I probably won't use them again, but besides that, I guess they were OK.
The Coinbase site doesn't work for me all the time
I preferred not having to submit so much info to Coinbase, Poloniex was so much faster to start using.Did you try to buy in amazon instead i found one here Ledger Nano S they have 5 stock remaining but the other posted there they are not currenctly available but that one is open and they have remaining 5 ledger nano s..
These are in stock on Amazon for me as well, as we speak. They seem a little pricey, as though it might be a different model than what is pictured.
Have you thought about using a Trezor or a KeepKey? I've never tried a Ledger or Trezor device, but the KeepKey I've played with works pretty cool.