Bitcoins the Future or a Flop?

[Cosmic Janitor]

I think it will survive, too many want to remove banks as the middle man.

Yeah.. banks as the middle man need to go, long live the ramshackle sharlatans that get hacked once a quarter or otherwise loose a couple of million bitcoin.. and charge you 20 bucks for your 1 dollar water purchase.

[Coolioe]

Well, technically you'll soon be able to since more major companies are starting to accept Cryptocurrency as a form of payment gateway. If you're still in some form of doubt, just keep in mind that on Saturday, Litecoin was valued at $140 and as of today, it's currently valued at $350 (last I checked). Still not convinced? Litecoin was valued at $4 in February while Bitcoin was $1000. You can do the math on what percentage growth that is since Bitcoin is worth $17k at the moment. Oh by the way, did you know that you can order a Tesla car and pay using Bitcoin?

Price instability does not a good currency make.

[Cosmic Janitor]

You can cash out some bitcoins, but tell me, if you're like the winklevoss twins, how are you going to cash out on your literal billions of dollars worth of bitcoin? You may be able to do it a little bit at a time but never the full amount.

I think it was 25k/day, because that is the most these tranders allow .

[Corroc]

You can already pay federal taxes with it in some countries.

In one town. Not a country, not a city, one town.

[Varitok]

Price instability does not a good currency make.

There is a reason valve stopped accepting it. It was worth like $450 in April. These people investing their life savings into bitcoin are going to destroy their lives, If you didn't get in early and cash out by now, its far to late.

[Independent voter]

Bitcoin is one of the few things Chinese billionaires can invest in.

However the Chinese government has plans to allow the Chinese people to invest with foreign financial services like Goldman Sachs.

When this happens bitcoin will drop in value precipitously.

[Varitok]

I think it was 25k/day, because that is the most these tranders allow .

Tell me how they are feasibly going to unload all these bitcoins worth billions before the value tanks? Also, Are you accounting for how much bitcoin is about to flood the market? Thus devaluing the thing they are trying to exchange. It's simple economics. It's just bound to fail.

[Radaney]

I think it will survive, too many want to remove banks as the middle man.

Ah yes, getting rid of one of most powerful and influential systems in humanities entire existance will be incredibly easy. Bitcoin will succeed in doing so for sure.

[Lochton]

Depends on the society. Currently, it is where I live, an unsupported and untrusted currency. It is more of a niche thing that someone invested in and now has a paper on it being a thing. It could be a thing but overall I don't think yet, and I could easily imagine it being overrun with an easier manageable currency. Having 1 Bitcoin being thousand+ at a given moment.

[Cosmic Janitor]

Tell me how they are feasibly going to unload all these bitcoins worth billions before the value tanks? Also, Are you accounting for how much bitcoin is about to flood the market? Thus devaluing the thing they are trying to exchange. It's simple economics. It's just bound to fail.

I think you took my post wrong, I was making fun of it and I'm fairly certain that they will lose their billionaire status pretty soon and will go back to millionaire, unlessless they can trade their BC to something with more stable value before the bubble bursts.

[Video Games]

I bought a lite coin and it went up 200 bucks since. I'm pretty happy

[Molis]

It is going to flop, and I predict a few people will get rich and the ones below them will have their lives destroyed.

Some type of electronic currency is in the future, however bitcoin is no it.

[thatmikeguy]

It was built as a scheme, all the population of the world can't make it liquid if they each had that amount. Tgose holders can only gamble on others from the coin exchanges. Keeping bitcoin alive and going up as it was last month, un 2045 would require all the power we are using in the world today, yet it's redundancy can't allow that, LOL! People are dumb as rocks.

[Varitok]

I think you took my post wrong, I was making fun of it and I'm fairly certain that they will lose their billionaire status pretty soon and will go back to millionaire, unlessless they can trade their BC to something with more stable value before the bubble bursts.

Oh i'm sorry, I am just extremely worried about people losing their lifes savings to this. It's all just so unstable right now.

[Violent]

I think it's here to stay..

Mostly everything on the internet, or that the internet has brought us, has it's own little niche, or creates one, and there it remains.

Really most stuff like that either grow, or eek out their own lil existence and sit there, and stagnate. But never really completely "die" out.

Wish I had an extra $1,000 back when, I would have invested just to see.

[Azadina]

Oh i'm sorry, I am just extremely worried about people losing their lifes savings to this. It's all just so unstable right now.

Worried? Why worry, when it's certain. The same always happens with these pyramid schemes. Get in early, get out early enough = rich. Get in late, and hold them when it busts = you paid for the whole party.

[Azelas]

I'm apparently missing something in regard to how bit coin works... how can or does it "serve as a form of wealth distribution without raising taxes?"

it's not. It's just the anarcho-capitalist's wet dream and they try to justify it to other people that it somehow reduces income inequality while it's the complete opposite. It's a financial investment which only the rich can access and they are the ones to reap the rewards. And before someone comes and says "I'm not rich and I bought bitcoins!11!11". You are rich by world standards.

[TZucchini]

"The fees are much lower."

Not sure what they mean here. It's like a $20 transaction fee to send bitcoins to someone else. That's absurd.

[Yunru]

Instead of giving money, you invest it into a buble. It works similar like stocks. But its a pyramide in nature.
The only reason why its so popular is that you can easy launder money with it.
You buy a bit-coin with stolen money and after some time has passed you sell it.

[Nazrark]

BitCoin will rise in the initial futures. Then it'll level off based on which individuals/organizations own the majority of it. It'll be accepted everywhere which is what the goal is. Like how the USD is accepted everywhere for transactions.

This will most likely be the first step towards a Earth Credit. Eventually everyone will use the same currency.

One thing though. It'll mess up everyone else's currency trading for awhile. I figure a number of wealthy people will move their money into something they can control. Since most futures markets are volatile. Highly dependant on the country that backs it.