I look forward to the day people stop investing in Bitcoin, and instead use it as a decentralized transfer of value...it's intended purpose.

It's better if they sort all the bugs out now,  rather then after the live release, where real money is at risk.

I feel once Ethereum is released, dapps such as exchanges, forecasting tools, and other services similar to Airbnb & Uber will come to the forefront of uses for this new technology. This will also lead to more awareness of bitcoin as a similar service, but with regards to the transfer of value.

I think this project, if successful, will give Bitcoin a better opportunity, more so in the long run, as it will give people a chance to really investigate the tech that holds it together.

An ecosystem around Bitcoin is being built, and if it flourishes, so will bitcoin.

And here's a shameless plug to calm your senses: https://www.youtube.com/watch?v=vcoPs6pcnW0

Ethereum is just a blank whiteboard where anything can be created, it's not in competition with any other coin, but it will free the cryptospace from its current limitations. Strange how people cant see this and even see it as a threat, when its the opposite to everyone free from greed. Well that's my opinion.

Market will be $5000 on a Sunday

Moved to Altcoins...rofl? Ethereum is no altcoin, its a system FOR altcoins.

Uhh you've missed the biggest thing of all...the Ethereum release, it's so beyond ETF exposure or reward halfing - do you not understand how significant of a role it will play?

Just got that feeling. The feelz.

Once it hits $300 in a few days, the next $50 will be easy. Maybe even see a false hype to $450 then back down to $380. The cycle will continue to $600, its real value today IMO. Then once Ethereum is released and hits the 'Metropolis' phase, we will see a steady increase to $900.

So IMO $900 this time next year, and I ain't being greedy.

I pinky swear.

One day we are all going to be wrinkly old grandmas and grandpas.

Really? Any eth devs to confirm this?

Ethereum is not vaporware.

But yes I agree it will take several years for Ethereums potential to come to fruition. Still...very exciting times.

I think introducing fiat will be a challenge, but the whole point of decentralization would be to allow trade while controlling your own money in the most efficient way. Saying that however, there will be a way to solve this, its just early days. I'm sure someone's already come up with a solution.

So, as some people know Ethereum will be released in the next few months...and this causes me to contemplate its effect on Bitcoin as a whole.

One thing for sure is crypto will become a lot more secure, with protection against fraud rising to an all time high. This will presumably have an effect on Bitcoin, the community and the way its viewed from 'outside'.

If a Crypto Exchange was to run on top of Ethereum, meaning the exchange is decentralized, the risk of fraud would be terminated, there would never be another Mt.Gox or 'money disappearing panic omgwtfbbq'ing' going on. If an exchange is safe, people would be more willing to part with their fiat and therefore we could see an influx of bitcoin investments (and in general crypto investments), once the potential of this new technology is realised.

This makes me wonder what stance Coinbase takes on this. If they don't evolve fast enough to become decentralized, another exchange will most likely take over and become the most adopted exchange.

If Coinbase were to work with Ethereum, I could see the whole crypto community benefiting. Coinbase would become safer, meaning more investments, momentum with Ethereum would build, and Bitcoin's price would rise substantially.

Thoughts...?

We're all going to die anyway. One day the sun will burn out and none of this will matter. THAT is freedom.

But with regards to bitcoin...fundamentals are good and investments constantly increasing. Nothing has changed apart from the price, stop scaring yourself shitless, 2+2 STILL EQUAL 4 MMKAY?

Only thing that I could see as a problem in the long term is the economics and wealth disparity...but then I heard 1% of the population own 50% of the total economic power and wealth, so to be honest whatever happens, if bitcoin were to be adopted globally (totally or partially) it will help combat this problem. To be honest even the nature of bitcoin helps balance power.

HARRRRRRRRRI KRISHNAAAA

Will they though? Yes, it may be useful and easy, especially with the introduction of smart contracts//derivative coins etc...and will therefore cut inefficiency of how the human race in general manages itself, but people will inevitably care if the value of everything they have worked for, suddenly runs into the hands of the few elite.

You can argue that there is a rich elite at the moment which is absolutely fucking the world right now, but the amount of potential disparity that bitcoin may create will be absolutely catastrophic, causing the human planet to turn all dystopian. I know this sounds like something out of a book, but this could happen, especially if no single authority has control over this object.

People will care if their $10 turns into the equivalent of $0.01 cents in bitcoin, which is the case if bitcoin is to flourish. But this is just my opinion, and maybe it will change with a bit more understanding...

Lol? Do not tell me to leave this community for questioning bitcoin. Questioning how the world works is how the world has progressed so rapidly.

You are getting your ego involved. Lets just keep this down to pure intellect and opinion instead of insults, as it will not get us anywhere.

And I'm sure I'm not the only one with these questions. Just because I'm a newbie it doesn't make my remarks invalid. Instead of throwing insults, why do you not instead throw a constructive answer/opinion? You need to practice a bit more compassion, as they say, all you need is love! Now come here and let me give you a big fat kiss on the lips iluvpie60!

Hmm, well people will not be spending their bitcoins recklessly. If they do spend it so for e.g. on a house or in another company, they still hold the power, with the underlying value of that power being bitcoin. The only real spending that would occur would be on depreciating assets, which would only account for a small amount of the purchases made. The rest would be hoarded in appreciating assets, so they never lose control of the power they first received with the massive wealth disparity that may come from bitcoin.

I cannot see the whole world using bitcoin when its going to create such wealth disparity.

There are roughly 13 million coins in circulation, with the maximum amount being 21 million. This means over 50% of all coins in being, are in control of a small minority consisting of maybe 0.01% of the worlds population.

Yes, there is a super-elite rich at the moment, but not at the scale we are talking about if bitcoin were to be adopted.

Is it not more sensible to think that yes, a cryptocurrency will exist, but not bitcoin? A coin where you are automatically assigned a certain amount based on your wealth at the moment, in relation to others?

I find it absurd that someone, i.e the Winklevosses could own 1% of the worlds monetary power. Noone, absolutely noone in their right mind, will allow someone to hold this amount insane amount of resources.

I understand, the concept and even bitcoin itself is revolutionary, it has woken us up to what could be, but the origination and adoption of bitcoin was messy and only open to people who (rightly so) had knowledge and guts. But just because someone has guys it doesn't mean they are deserving of something.

99.99% of the worlds population controlling 50% of the worlds monetary value and therefore resources, when early adoptors, i.e the 0.01% own the other 50%. 1 person in the 'bitcoin elite' would have the same monetary power as 10,000 people. That's disgusting and human morality itself will not allow for this to happen.

Don't get me wrong cryptocurrency is the future, just not one causing a dictatorship to be born.

And for the short term I see no reason to invest either....


Swiping cards is just about the simplest thing you can do, most transactions under $50 don't require a signature, and security codes and card expiry are incredibly small concerns.

Bitcoin's headaches are immense, slow txn processing, irreversible for the consumer, funds are lost if wallet is compromises...now follow me for a sec...

Merchants can't replace credit with bitcoin. Simply can't. Credit is money you don't have and bitcoin is money you do have. A good credit card offers rewards, 100% fraud protection, ubiquitous acceptance, FICO score benefits, and an entity between you and your money. Tons of consumer value.

Now debit - debit fees were sliced by the Durbin amendment, so suddenly they aren't all that much more than the 1% exchange price of bitcoin.

While debit and bitcoin are comparable in that they are money you have, there is still no compelling reason for your average consumer to pay a fee to obtain bitcoin just to make an everyday purchase.

Merchants can want to eliminate transaction fees all they want but until there is clear value for the most important point in the value chain, the consumer, mass adoption will not occur. Even worse, to fix bitcoin's shortcomings, you need to regulate it, guarantee it, set up escrow's, exchange btc for USD...all the things that will make it just like the mainstream banks bitcoin is seeking to circumvent.

Even if these are fixed, its too late, people will realise the wealth disparity caused.

A new world cryptocurrency will be replace it, where the wealth disparity stays the same, where it is today... but with all the benefits that crypto has to offer so the world doesnt collapse?

Comments?