the reason why bitcoin will triumph - page 3
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the very notion of action is speculation, you can not act if you are not speculating and already knows the outcome.
"Bitcoin has value because people think someone will buy their coins for a higher price." - Not 100% true, there are people buying it to prevent his money to suffer from inflation, taxes, just like gold
"Let's say bitcoin's price stabilizes at a certain price. Would you consider buying it in that case? "-- The price can not stabilize, because the global production is increasing, and even if the price were stable, you would not suffer from inflation, so would be a great long therm investment. You can't compare it with gold, because there are huge gold miners, extracting more and more gold, with bitcoin it's fixed, and every hour it becomes more scarce, so the price will go up, like forever
I agree exactly, what scares me though a bit is the parabolic rate at which it has gone up, it is similar to Silver back in 2003 i think it was, it looked exactly the same, then over night in a blink of an eye it crashed, funny thing is it went back up to at least 3/4 of the price, over the next few months, same old story when there is blood on the streets Buy Buy Buy or just Buy the dips same thing, often counter to instinct but it doesn't feel that way with Bitcoin, it feels a sure thing $100,000 a Coin I'm sure.
But yer it actually only looks Parabolic on a Monthly or Weekly Chart, up closer 15m, 5m it levels out (no different to Currencies like EURUSD) it has taken some very big dips but risen back up, it does feel as though it can not fail, this is progress this thing, you can not stop, there is no alternative.
Wait till there is a Hic-cup again with the Stock Market, wait and see then were people will put there money, Bit Coin is gaining credibility, Exchanges are all by the looks starting to conform to the legal requirements of Governments, then eventually it will be excepted by them, history is fraut with people trying to stop progress hinder progress,ignore progress, hoping it will go away but progress never does, Richard Bransons is into it Big Time he saw the Future, Billy boy Gates says it can not be stopped, this is the New Generations answer to the Money System,we are going to need it,they they are the clever ones.
After saying all that
Can't help wondering why there are so many Bitcoins when does it stop and what is it created out of, can't just anyone create a Bit Coin name and get some software and say there ya go buy "Metacoin" buy this it's sooooo much better than the others (How so) and they become Gazillionares for doing Jack ?
Peace : )
Bit Coin is the future
Bit Coin is the future. Viva Bitcoin
Bit Coin is the future. Viva Bitcoin
You forgot to mention the most essential ingredient to what "money" is:
f - a community of resource holders agree to hold it in proxy for actual resources
ie. all currencies are in some sense fiat
Bitcoin cannot possibly increase in value "forever". The more it acts like it will the more we have hyper-deflation wrt to the coin, opposite of hyper-inflation.
ie. On what day would you ever spend a bitcoin if you always had a 99% strong guess it would be worth more tomorrow? (I bought those sneakers yesterday for $1, I could've bought them today for 50 cents. Damn!)
This is exactly what's happening with bitcoin right now and why it has to have a drawback pretty soon or it wont succeed as a currency. Stabilization is what you want if it's to actually be a currency. Gold and silver and every other commodity has had big drawdowns. Bitcoin will not be any different. But that's good. It will eventually become a universally accepted part of the regular market. It virtually already is but not quite yet.
The other thing you're missing is the effect of all cryptos as a whole. Most of the public still sees bitcoin as "the" crypto-currency. Once the understand gets around that anyone can basically create a whole new crypto anytime they want by simply asking their friends to put the mining software on their home computers, the love affair with bitcoin will be a bit shaken. That's where ingredient (f) starts to go toe-to-toe with ingredient (a). And it's not completely clear what will happen.
A lot of people think that gold has value because it's yellow and shinning, NO, gold has its value because: a- its scarce b- you can't fake any more gold c- you can carry it between places at a reasonable cost, so you can exchange it d- it does not degrade by nature with time e- divisibility - you..
What`s the difference between [ mining ] & [ buying or purchasing ] bitcoin or any other coin?
I agree on the principal but bitcoin is not real, its virtual and technology is giving it the hype
i would only listen to Clem Chambers about it, all his speculations came true during the last 12 months, he was able to predict prices weeks ahead and the next move as well
What`s the difference between [ mining ] & [ buying or purchasing ] bitcoin or any other coin?