- Nov 16, 2011
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Correction: last Bitcoin will not be mined by next 10 years. It is lot more.
Bitcoin surpasses Russian ruble
- Thread starter awesomewebsites
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ExperimentalSEO
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I need to check the rates from a few weeks ago, but I think property rates in Moscow are a really good deal now.
Chris Newman
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- Oct 13, 2018
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That is correct, but remember that as it is being mined, the whales finally get to accumulate them in huge quantities and as they accumulate they hold (they don't sell). This will magnify a lot in the coming years thereby creating a shortage in Bitcoin and with the knowledge that Bitcoin is going to get more scarce, it's price will see the actual shine in 10 years. That is what I meant. I did not say or mean all possible Bitcoin will be mined in 10 years.
- Nov 16, 2011
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That might not be true. In 10 years, there can be some new coin which will replace Bitcoin in terms of market cap as number one. In fact, we can a complete new technology like blockchain taking over the current one.
Chris Newman
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- Oct 13, 2018
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With the way technology gets evolved and new technologies get invented at such a fast pace nowadays, what you've mentioned is possible, no doubt. Bitcoin has stood as the champion of all crypto (in terms of marketcap) ever since it was invented in 2009 (13 years ago) and has stood the test of time upto now in terms of it's underlying secured blockchain based technology. No one till now has been able to hack Bitcoin's blockchain protocol. (I'm not talking about wallets, exchanges being hacked). Bitcoin most probably will not be overtaken by any other crypto in terms of marketcap nor in terms of it's security of Bitcoin blockchain protocol. However, some other crypto protocol technology getting invented that may overtake Bitcoin in terms of marketcap, is a possibility, but in my opinion not highly possible.
ExperimentalSEO
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They still will sell/trade some of their bitcoin, just as the value of bitcoin increases the less and less bitcoins they would have to sell. For the average american, at the current BTC rate, you could spend an entire bitcoin throughout the course of a year.
At some point you will want to diversify away from bitcoin and into other assets as the value keeps increasing.
At some point you will want to diversify away from bitcoin and into other assets as the value keeps increasing.
Filipinocoder
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No, I don't think so. I'm interested in knowing why you made this statement though.
ExperimentalSEO
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I don't get why anyone would reasonably think that after the past week that bitcoin is going to go away. It offers so much wealth protection as well as the ability to keep engaging in business when other platforms are shut off. Payment processors, bank messaging systems, card processing systems can all be cut of or way restricted in some way, bitcoin on the other hand cannot. Bitcoin is the one of the greatest systems ever created for international commerce.
It allows for smaller businesses to keep doing business with their clients and/or suppliers. Unless you are dealing in large sums of trade, it is way too expensive to book a flight to meet clients or suppliers in person and exchange cash or gold and even then it would take several days for the trip.
Black Promo
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- Dec 21, 2021
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Rouble not strong currency (
Filipinocoder
Banned - Shitlisted and did not do the right thing
- Jul 24, 2021
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Yes, you are right. Maybe the fake news surrounding bitcoins is misleading some people.
- Oct 11, 2013
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That is quite right. Info war is on.
ExperimentalSEO
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It should come back quickly, there's going to be a lot of investors with deep pockets looking to snap up discounted investments in Russia. I was just looking more into properties priced in rubles and they seem to be having better and better deals. One apartment I was looking at yesterday stayed the same price at 10.5 Million rubles, but for an outside investor the price dropped from $84,000 to $75,000 today. One mansion in the Moscow region was listed for 371 Million Rubles on Feb 24, which If bought on Feb 25th would cost $4.42 million, now it costs around $2.67 Million.
- Nov 16, 2011
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The situation will take lot of time to improve. A wise investor will not park his funds for so long in uncertain times.