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In other countries it is worth Xxx.xx+20 on exchanges relative to USD and worth even more on the street. Look for the rise to continue.
Imagine for a second that you're wrong and actually there are millions of millionaires out there who have been hearing about bitcoin for years and said they wanted to invest a proportion of their portfolio and have been putting it off, maybe they had some but sold off some point on the way down and have been looking to get in under $400 again. All of the sudden it was $750 last week and now it's 840?
What happens when fiat whale smart money realizes that Bitcoin is here to stay and is the killer store of value app. The whole world can't get into Bitcoin at $15B economy, and smart money is always going to beat the masses to the punch and ride the way up.
Imagine for a second that you're wrong and actually there are millions of millionaires out there who have been hearing about bitcoin for years and said they wanted to invest a proportion of their portfolio and have been putting it off, maybe they had some but sold off some point on the way down and have been looking to get in under $400 again. All of the sudden it was $750 last week and now it's 840?
What happens when fiat whale smart money realizes that Bitcoin is here to stay and is the killer store of value app. The whole world can't get into Bitcoin at $15B economy, and smart money is always going to beat the masses to the punch and ride the way up.
-snip-
a decentralized file sharing service that allows content uploaders to monetize that content. Imagine piratebay + storj + bitcoin. Download anything for $0.05.
It will be ENORMOUS.
a decentralized file sharing service that allows content uploaders to monetize that content. Imagine piratebay + storj + bitcoin. Download anything for $0.05.
It will be ENORMOUS.
file-sharing and piracy is only booming as long as it is free! it doesn't even make sense to monetize it and i am sure it won't be successful. they steal content and want to charge people money for it! what is stopping me from using torrent for free?
besides it is actually going to be a lot worse for the pirates (those who make the content) when they are caught, so far they were only stealing and sharing now they are going to take money on top of it too.
next KimDotcom's lawsuit is going to be 50 times bigger.
You need to pay something so that you can pay the decentralized hosting. As I understand it, users will be able to upload content without hosting, host content without being a publisher, and buy content without being either. MegaUpload2, being just the tech stack and not a hosting provider this time around, will not be under threat. Publishers will be incented to publish better content and users will feel better about downloading vs. torrent. All it takes is one killer use case, maybe Radiohead or another content creator equally as popular will put out a song on BitCache, and from that point all of the people who jumped in will have coin in their wallet.
Re: [ANN] vDice Ethereum Blockchain Gambling || Crowdsale is LIVE NOW
is the ico only for the vdice plattform
or is it for vdice (who made allready 1.5 million profit) and the vdice plattform ?
as i understand it, there will be a vdice plattform and on it thousands of games and the game called vdice.
thank you
or is it for vdice (who made allready 1.5 million profit) and the vdice plattform ?
as i understand it, there will be a vdice plattform and on it thousands of games and the game called vdice.
thank you
The ICO is to fund the ongoing development of the vDice platform.
There is no difference between "vDice" and "The vDice Platform". They are both a place where vDice games are hosted.
At the moment there is 1 vDice game. It is the implementation of Classic SatoshiDICE as an Ethereum Smart Contract.
As the platform grows more games will be added. These will be games we develop.
But ALSO, it will be games 3rd party Dapp developers make and host on the vDice platform.
The token is called: 'vSlice'. This is the way that everybody can share in the success of the vDice platform.
When you hold vSlice tokens you earn profits from ALL vDice games.
When will vSlice be incorporated into the vDice contracts? Will all games going forward including 3rd party Dapp pay to vSlice addresses?
Re: The Bullish Media Center (The 1 stop Bullish BTC news source)
I really think that bitcoin atms and Circle are like comparing apples and oranges.. .sure they are both fruit, but they are different.
It is likely that Circle created a model that was not sufficiently profitable, which may make it a bit difficult for some service to come into their space and to take over the services that Circle was providing at the approximate rate that they were providing.
I don't give a single shit about Circle, it's a startup like any startup, by time, we will have 100x Circle-like Startups
Maybe on a personal level, Circle may not matter too much, but the fact of the matter was that there were a lot of folks who were using Circle, and their surprise announcement was a bit of a shock for a lot of folks.. and will likely have several repercussions in the coming months (at least for some folks to seek out other reasonable means to buy and sell coins), and maybe even some folks will get out of bitcoin out of frustration. Sure, we may consider some of the Circle folks (seeking user-friendliness) as weak hands, but in the end, I find the abruptness of Circle's change and their announcement to be a bit disingenuous and a spitting in the face of a large number of smaller potato bitcoin users... so some of these folks may get confused by this and frustrated with bitcoin because of the seemingly disingenuous actions of Circle.
Just a couple posts up Spark is talked about as being a bull article...
Re: The country with the highest demand for gold just outlawed gold. Shit got real.
I do not get why most of you think that Bitcoin will sky rocket because of the situation in India. There are some hurdles to overcome over there before they can buy Bitcoins. Do not forget that it is a third world country where most are not connected to the internet nor do they have access. Also most of the people there are poor and if they have savings, Bitcoin would be the last in their priorities.
Because bitcoin is trading at a huge premium in India.
At what exchange is it trading and at what volumes are we speaking about? If it is at Local Bitcoins, I would argue that all of the Bitcoins traded there are priced at a premium and that the volume there is not really that high compared to the exchanges like BTCe or Bitstamp. Chinese exchanges are also trading slightly higher than most because the Chinese traders are pumping the price. It does not necessarily mean that the ordinary people are buying Bitcoins with their savings.
All exchanges in India. For example price right now on Unocoin is 57394 which is about $850 USD ($90 higher). It was over 20% premium just a couple of weeks ago.
Unocoin is a new exchange , am I right? Getting premium prices usually happens when the volumes are fairly low. An example of this is the trading that is going on at Local Bitcoins. That is very understandable and it does not really say anything about the current situation of Bitcoin in India except that it is new and that market will become efficient sooner or later.
And Zebpay. And Localbitcoins. It's more about the money that they devalued but traditionally gold would have been the safe haven and with that under threat bitcoin will only continue to gain grounds. India's adoption is just beginning.
I really could not feel disappointed if he would not be successful with... whatever he is developing.
Although I have no idea of what he tries to create, just the name KimDotcom already has that touch of bad carma.
And this guy making his next business about bitcoin, that is something I would rather not want to read in the newspaper tomorrow.
Although I have no idea of what he tries to create, just the name KimDotcom already has that touch of bad carma.
And this guy making his next business about bitcoin, that is something I would rather not want to read in the newspaper tomorrow.
Exactly right, he's poison. His involvement in Bitcoin to the general public would just be another example of a criminal element like Silk Road loving the new crime money. Every time someone like him preaches for Bitcoin it's just another nail in the coffin of public perception. About half of my friends already think I'm nuts for having any of my money tied up in "crime dollars" as one friend put it. Another one of my friends asked how much I have invested in the Medellín Cartel (because I support Bitcoin).
GTFO, he has a list of tens if not 100s of millions of people interested in file sharing, and he is building a decentralized file sharing service that allows content uploaders to monetize that content. Imagine piratebay + storj + bitcoin. Download anything for $0.05.
It will be ENORMOUS.
So, about the same number of people that thought Silk Road was cool then? Where is Ross Ulbrich right about now?
How about 10-30% of 150 million MegaUpload users?
Re: is it time to start seriously talking about a $5000 BTC
No. Not until the block size issue is resolved.
Either the limit is removed or off chain networks are implemented and proven. Preferably both. Then we'll have moon.
Either the limit is removed or off chain networks are implemented and proven. Preferably both. Then we'll have moon.
Both will happen, though not sure in which order. But $5k might happen before either.
Can you stop pricing yourself in fiat?
I would say it is with almost 100% certainty that you cannot.
I'm wondering just how long you will use the fiat banking system as your crutch.
I would say it is with almost 100% certainty that you cannot.
I'm wondering just how long you will use the fiat banking system as your crutch.
Yes, no problem. I already changed my perspective. I consider fiat a vastly inferior form of money. A "gain" in bitcoin fiat "value" is in fact a decrease of fiat purchasing power compared to Bitcoin.
I will never exchange Bitcoin for fiat trash money. I never did. It just makes no sense.
For Bitcoin to be generally perceived as a reference for value, we need a closed-loop Bitcoin economy. That will take some time. Nowadays fiat money is moving into Bitcoin relatively slowly, however the stream will increase significantly once we see more inflation. The central banks are doing the best possible advertising for Bitcoin. Their actions will produce hyperinflation and destroy the acceptance of fiat money. Bitcoin will thrive because of these developments.
ya.ya.yo!
What he said.
I really could not feel disappointed if he would not be successful with... whatever he is developing.
Although I have no idea of what he tries to create, just the name KimDotcom already has that touch of bad carma.
And this guy making his next business about bitcoin, that is something I would rather not want to read in the newspaper tomorrow.
Although I have no idea of what he tries to create, just the name KimDotcom already has that touch of bad carma.
And this guy making his next business about bitcoin, that is something I would rather not want to read in the newspaper tomorrow.
Exactly right, he's poison. His involvement in Bitcoin to the general public would just be another example of a criminal element like Silk Road loving the new crime money. Every time someone like him preaches for Bitcoin it's just another nail in the coffin of public perception. About half of my friends already think I'm nuts for having any of my money tied up in "crime dollars" as one friend put it. Another one of my friends asked how much I have invested in the Medellín Cartel (because I support Bitcoin).
GTFO, he has a list of tens if not 100s of millions of people interested in file sharing, and he is building a decentralized file sharing service that allows content uploaders to monetize that content. Imagine piratebay + storj + bitcoin. Download anything for $0.05.
It will be ENORMOUS.
if bitcoin price goes down to $500 these days i will sell my house and all my belongings and i will also sell a kidney to buy as much bitcoin as i can but that will never happen and days of cheap bitcoin are over.
This.
As Far As I Know, KimDotcom will be launching it next year or early first quarter of 2017. I am also eager to know his project since I know,it will have a great impact on bitcoin community. I am hoping his project develops,implemented and fully utilized to exploit its potential for the benefit of community.
I'm not so sure, whether his product will really be that innovative. Kim Dotcom is very good at marketing. He makes a lot of announcements, full of promises. However when it comes to real results, there is a lot less to show.
Bitcoin and Bitcoin users don't need Mr. Dotcom, Bitcoin is working fine as it is. If he truly had the intention to improve Bitcoin, he would have joined the development community. But he lacks the abilities to make a meaningful contribution anyway. The projects of Kim Dotcom serve primarily the purpose to generate profits for him, which is o.k.. Expecting anything special is not realistic.
ya.ya.yo!
i agree with you, but like you said he is very good at marketing and that's the main point to bitcoin.
if his idea will be revolutionary doest matter, all that matter is more buyers to bitcoin and price increasing
He said it would launch on 1/20/2017: https://cointelegraph.com/news/kim-dotcoms-megaupload-2bitcache-reaches-funding-target-now-what
Still unclear as to whether he needs SegWit changes to be activated prior to the launch, hopefully not.
Well I would assume he is going to suffer without segwit because segwit fixes the malleability problem thing and this is always very useful specially when this guy wants to make something that relies in massive amounts of microtransactions. The idiots blocking segwit really dont know what they are doing to bitcoin.
He may be able to work around it without SegWit like Yours is doing, in which case the only bottlenecks would be on and off-ramping with BitCache.
As Far As I Know, KimDotcom will be launching it next year or early first quarter of 2017. I am also eager to know his project since I know,it will have a great impact on bitcoin community. I am hoping his project develops,implemented and fully utilized to exploit its potential for the benefit of community.
I'm not so sure, whether his product will really be that innovative. Kim Dotcom is very good at marketing. He makes a lot of announcements, full of promises. However when it comes to real results, there is a lot less to show.
Bitcoin and Bitcoin users don't need Mr. Dotcom, Bitcoin is working fine as it is. If he truly had the intention to improve Bitcoin, he would have joined the development community. But he lacks the abilities to make a meaningful contribution anyway. The projects of Kim Dotcom serve primarily the purpose to generate profits for him, which is o.k.. Expecting anything special is not realistic.
ya.ya.yo!
i agree with you, but like you said he is very good at marketing and that's the main point to bitcoin.
if his idea will be revolutionary doest matter, all that matter is more buyers to bitcoin and price increasing
He said it would launch on 1/20/2017: https://cointelegraph.com/news/kim-dotcoms-megaupload-2bitcache-reaches-funding-target-now-what
Still unclear as to whether he needs SegWit changes to be activated prior to the launch, hopefully not.
Re: The country with the highest demand for gold just outlawed gold. Shit got real.
I do not get why most of you think that Bitcoin will sky rocket because of the situation in India. There are some hurdles to overcome over there before they can buy Bitcoins. Do not forget that it is a third world country where most are not connected to the internet nor do they have access. Also most of the people there are poor and if they have savings, Bitcoin would be the last in their priorities.
Because bitcoin is trading at a huge premium in India.
At what exchange is it trading and at what volumes are we speaking about? If it is at Local Bitcoins, I would argue that all of the Bitcoins traded there are priced at a premium and that the volume there is not really that high compared to the exchanges like BTCe or Bitstamp. Chinese exchanges are also trading slightly higher than most because the Chinese traders are pumping the price. It does not necessarily mean that the ordinary people are buying Bitcoins with their savings.
All exchanges in India. For example price right now on Unocoin is 57394 which is about $850 USD ($90 higher). It was over 20% premium just a couple of weeks ago.
Where we are, at around $750 today, reminds me a lot of where we were in October 2013 at around $120. An ATH of $3500-$6000 seems very possible within the next 2-3 months.
The higher market cap is making things move slower this time around IMO. No one sitting on a couple million extra USD is like "I need to convert this to BTC tomorrow." They're just sitting there soaking up the liquidity, occasionally dumping a bit to shake weak hands and buy back lower. This hasn't been the case with prior runups because the order of magnitude was lower, and I believe that it is effecting the time scale on your charts. That said, just because it has been slow to this point doesn't mean it can't pickup in a liquidity crunch.
I would be very interested to see this analysis done based on market cap rather than price of individual coins, and maybe using some kind of log(market cap) multiplier on the timescale to reflect the latency moving money out of the banking system into the market as the market cap increases.
The higher market cap is making things move slower this time around IMO. No one sitting on a couple million extra USD is like "I need to convert this to BTC tomorrow." They're just sitting there soaking up the liquidity, occasionally dumping a bit to shake weak hands and buy back lower. This hasn't been the case with prior runups because the order of magnitude was lower, and I believe that it is effecting the time scale on your charts. That said, just because it has been slow to this point doesn't mean it can't pickup in a liquidity crunch.
I would be very interested to see this analysis done based on market cap rather than price of individual coins, and maybe using some kind of log(market cap) multiplier on the timescale to reflect the latency moving money out of the banking system into the market as the market cap increases.
Re: is it time to start seriously talking about a $5000 BTC
Our $750 threshold is kind of like the $120 of October 2013. When we move toward the all time high in earnest, we will blow by it quickly and shoot up. $5000 seems like a reasonable estimate for the new ATH one year from now after we crash back down to ~$2500.
Adoption is happening in a big way all over the world, but what will happen before mass adoption is smart money adoption, and this is the phase we are in right now. The buy demand is there, it is just in no hurry to get in for fear of moving the market.
Adoption is happening in a big way all over the world, but what will happen before mass adoption is smart money adoption, and this is the phase we are in right now. The buy demand is there, it is just in no hurry to get in for fear of moving the market.
Re: The country with the highest demand for gold just outlawed gold. Shit got real.
I do not get why most of you think that Bitcoin will sky rocket because of the situation in India. There are some hurdles to overcome over there before they can buy Bitcoins. Do not forget that it is a third world country where most are not connected to the internet nor do they have access. Also most of the people there are poor and if they have savings, Bitcoin would be the last in their priorities.
Because bitcoin is trading at a huge premium in India.
Re: Long term Scalability of Bitcoin and the 1 MB block size limit
Consensus is the block size limit will have to rise.
Us geeks were/will/are arguing over how and when, not if...
Us geeks were/will/are arguing over how and when, not if...
3 years later, and we're still arguing how, when and even IF it should be raised.
we actually gone BACKWARDS in our reasoning.
Pretty amazing how the landscape of the Core Devs has changed since Gavin responded to this. That said, I think that Gavin's statement still applies.
geofflosophy I really liked your prediction. I want to share your optimism and I would love your scenario of mass adoption to happen.
One aspect is bothering me, it is still relatively hard for normal people to buy bitcoin, you said that we need to have couple bucks of BTC to use these new services etc.
But do you think that ordinary John will bother to register and verify his identity on bitcoin exchange just to buy $5 worth of BTC for MegaUpload2?
One aspect is bothering me, it is still relatively hard for normal people to buy bitcoin, you said that we need to have couple bucks of BTC to use these new services etc.
But do you think that ordinary John will bother to register and verify his identity on bitcoin exchange just to buy $5 worth of BTC for MegaUpload2?
This is becoming less and less of an issue, it was certainly much more of an issue in 2013 than it is now. Really strong mixing in the future will make it even easier.
Mining investment continues, we saw a 10% jump in difficulty at the last adjustment. My pet theory is that it is miners who are providing the liquidity despite most of them being long term bullish, not just to pay expenses but also in an attempt to keep the price artificially low to protect their market share by keeping mining less profitable for new entrants due to upfront costs. But with each dump attempt, the liquidity gets soaked up and held. I believe that this market share protectionism is also primary in the blocking of SegWit as well
This doesn't make much sense overall
If we assumed that you were somehow right (that miners are keeping the price artificially low), then it would make sense to keep the price low at any time, not so much to make mining less profitable for new entrants as to crowd out other miners. But the latter seems to be even more unreal since they are there for profits after all, not for losses, and as you yourself say, most of them are long term bullish, anyway
Well this theory is predicated on the idea that they have mined a ton of bitcoins that they don't have to sell to pay the bills (first because they have investment capital and second because it's so profitable). Another 1/8th of all of the bitcoin ever available will be mined over the next 4 years, some of these miners have 10+% of the network and intend to get those coins into their pocket.
Imagine what will happen to the mining industry when the price of bitcoin is $5k+, when countries invest country amounts of money into building bitcoin mining farms. Will ViaBTC still be funneling 8% of new coins their way?
this theory can not be true only because miners can not hold price down forever and it has been a long time since bitcoin was created and even if you consider it after the shaping of mining farms there is still a good couple of years and no one can really hold price down for that long.
True they cannot keep it down forever, though if they block SegWit they might be able to keep it down for a lot longer.