BitCoin and Cryptocurrencies - Will they fail? My 3 Predictions!

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[TD="colspan: 2"] Bitcoin Is Not Anonymous & Is Always Taxable Forbes Bitcoin is surrounded by questions. While I can't answer most questions, I can answer the questions related to tax. The most important answer is yes ... [TABLE="width: 100%"]
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[TD="colspan: 2"] The Bitcoin Boom Forbes Not everyone is sold on bitcoins as an investment. Detractors argue that bitcoins have little or no real-world utility outside transactions on online black ...
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[TD] Bitcoin takes a beating: down nearly 50% as China cracks down GigaOM After a record run, Bitcoin prices have tumbled back to earth after the Chinese government announced a series of bans on the currency. Here is a chart ...
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[TD] Bitcoin regulations in China may give digital currency legitimacy ... Channel News Asia Just a week after China's new rules restricting Bitcoin trading sent the virtual currency on a downward spiral, prices have recovered. Analysts said the ...
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[TD] 'Bitcoin isn't real money': Norwegian government refuses to ... Daily Mail A Bitcoin investor, Norwegian Kristoffer Koch, recently made more than half a million pounds after he forgot he bought 17 of currency four years ago.
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[TD] Bitcoin-Kurs auf Talfahrt Finanzen.net Am Dienstag fiel der Preis pro Bitcoin deutlich unter 700 US-Dollar. Erst vor wenigen Tagen hatte er ein Rekordhoch von 1203 Dollar markiert. Auch in ...
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[TD] Bitcoin: governments should tame it, not ban it Telegraph.co.uk As far as Bitcoin's detractors are concerned, it is nothing more than a bubble: an imaginary currency, without any central bank to govern it, which is ...
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[TD="colspan: 2"] Bogus Bitcoin Tip Targets Gullible Mac Owners Tom's Guide Some pranksters over at the online message board ***** have been spreading a rumor that Apple computers have a secret built-in Bitcoin-mining ...
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[TD="colspan: 2"] Bitcoin's carbon footprint a 'clear and present danger' to Earth, says ... Sustainable Business Oregon The UpTake: Environmental scientist and entrepreneur Guy Lane says that mining Bitcoin is having a huge impact on the environment and if we don't ...
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[TD="colspan: 2"] 12 Days of Bitcoin: You Can Use it For a Beer Run Bloomberg Dec. 17 (Bloomberg) -- Bloomberg's Matt Miller recounts his experiences buying everyday items using Bitcoin on Bloomberg Television's "Bloomberg ...
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[TD="colspan: 2"] Helsinki Unveils Europe's First Bitcoin ATM | Zero Hedge Tyler Durden While Canada has had Bitcoin ATMs for over a month, bringing the virtual currency closer to mainstream acceptance; Bittiraha.fi reports that at one of ... [TABLE="width: 100%"]
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[TD="colspan: 2"] Bitcoin's Unlikely Nemesis: Apple? [Apple Inc.] - Seeking Alpha Rob Close The future value of Bitcoin and other cryptocurrencies will rely heavily upon successful penetration of retail markets. With very low transaction fees, ...
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[TD="colspan: 2"] Is Bitcoin Bringing The "Dark Web" Into The Light? | Zero Hedge Tyler Durden Despite the best efforts of the search engines, the majority of the Internet is unsearchable with estimates of this "Unlit" Web as high as 90%.
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[TD="colspan: 2"] Who's Afraid of Bitcoin? These Countries | Motherboard Meghan Neal ([email protected]) Norway just became the latest country to say that Bitcoin isn't real money. Here's a glance at the nations who have piped up about the cryptocurrency ...
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[TD="colspan: 2"] The Bitcoin bubble has burst, so what are the alternatives? - Phys.org The cryptocurrency Bitcoin has been in the news lately with a sudden surge in value followed by a spectacular crash - not to mention the unfortunate ...
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[TD="colspan: 2"] China's Statement on Bitcoin is Open to Interpretation - CoinDesk Jack Wang Declarations that bitcoin has effectively been banned from real-world use in China may be "premature".
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[TD="colspan: 2"] EconomicPolicyJournal.com: Norway: Bitcoin Isn't Real Money Robert Wenzel Norway's director general of taxation, Hans Christian Holte, said the currency "doesn't fall under the usual definition of money." The Norwegian ...
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[TD="colspan: 2"] Rumor: China really hates Bitcoin | SiliconANGLE Mike Wheatley The rollercoaster ride that is the Bitcoin market took a deep dive yesterday following yet another bombshell out of China - this time round, the People's ...
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[TD="colspan: 2"] Heineken: The Beer of Bitcoin - Hit & Run : Reason.com Brian Doherty The key to Bitcoin becoming a widely used currency is, naturally, lots of people and institutions accepting it generally as payment for their goods and.
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[TD="colspan: 2"] Starcraft 2 showdown for Bitcoin prize | Lazygamer .:: The Worlds ... Zoe Hawkins Scarlett and NaNiwa face off in a Starcraft 2 tournament for a prize paid in Bitcoins.
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[TD="colspan: 2"] Bitcoin Crashes On PBOC Rumor - Business Insider But an unnamed source told her, "PBOC, in no uncertain terms, directed third-party payment companies not to do business with bitcoin exchanges in ... [TABLE="width: 100%"]
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[TD="colspan: 2"] What the arrival of Bitcoin means for society, politics and you (Wired ... We are moving to a world that uses currencies secured by cryptographical systems. It's time our social and political institutions seriously consider what ...
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[TD="colspan: 2"] Bitcoin now accepted by RentHop | Inman News Rental listing site RentHop thinks it can entice landlords and real estate brokers into using Bitcoin by slashing its listing advertisement fee if they pay ...
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[TD="colspan: 2"] bitcoin | Extension | Yii PHP Framework Bitcoin extension simplify incorporation of Bitcoin (Coinbase) into your Yii application.
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[TD="colspan: 2"] China Bans Payment Firms from Working With Bitcoin Exchanges ... The People's Bank of China (PBOC), the Chinese central bank, has today banned payment companies from doing business with bitcoin exchanges.
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[TD="colspan: 2"] Final word from my rep at Chase: All Bitcoin-related products are ... Hi everyone, A few weeks ago, I posted that Chase decided to [terminate my ...
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[TD="colspan: 2"] Bitcoin Cafe: Wired and Spending in China: Video - Bloomberg As China becomes the world's largest Bitcoin market, Bloomberg's Christine Hah visits a Beijing cafe where China's enthusiasts congregate and ...
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[TD="colspan: 2"] Trade in Bitcoins gains currency among youth in Mumbai - Times Of ... MUMBAI: Move over Dalal Street, Generation Y is more interested in Bitcoin trading. A quick glance at a Bitcoin portal like localbit.com, which brings ...
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[TD="colspan: 2"] Inside Hong Kong's biggest Bitcoin mine - CNN Money Industrial Bitcoin mines are popping up around the world -- including this one in Hong Kong.
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[TD="colspan: 2"] Bogus Bitcoin Tip Targets Gullible Mac Owners - Yahoo News From Yahoo News: Some pranksters over at the online message board ***** have been spreading a rumor that Apple computers have a secret ...
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Advertise on BHW
check bitcoin conversion, dropped from 1000 to 500... its freefalling
 
First I liked the concept of anonymous, government and banking cartel independent money. "People's money", but now this seems to become mainstream and if even greedy bastards like Goldman Sachs get in, it's over.

Other things that I dislike about Bitcoin:

1. You need a computer to use it. It depends on electricity. Not being a doomsday Believer, but if everything goes to shit or if you live in a developing country a value system that depends on electricity and networks is not good. IMHO.

2. The moment they started to link Bitcoin to regular currency systems is when they destroyed Bitcoin. Now it is just another asset, tied to the US$ or the Euro and being exchanged back and forth. This alone "corrupted" the Bitcoin idea.

My prediction: like many other human inventions that promised freedom, wealth and values for everyone it will be corrupted by greed and egoism. A few will strike it rich (albeit "different" few) and the rest will be left behind, looking for the next thing to liberate them.

Freedom starts first in our own minds and hearts.
 
euros123dotcom said:
First I liked the concept of anonymous, government and banking cartel independent money. "People's money", but now this seems to become mainstream and if even greedy bastards like Goldman Sachs get in, it's over.

Other things that I dislike about Bitcoin:

1. You need a computer to use it. It depends on electricity. Not being a doomsday Believer, but if everything goes to shit or if you live in a developing country a value system that depends on electricity and networks is not good. IMHO.

2. The moment they started to link Bitcoin to regular currency systems is when they destroyed Bitcoin. Now it is just another asset, tied to the US$ or the Euro and being exchanged back and forth. This alone "corrupted" the Bitcoin idea.

My prediction: like many other human inventions that promised freedom, wealth and values for everyone it will be corrupted by greed and egoism. A few will strike it rich (albeit "different" few) and the rest will be left behind, looking for the next thing to liberate them.

Freedom starts first in our own minds and hearts.
Click to expand...

Yeah, I totally agree with you. I have said many many times, the concept of bitcoin maybe awesome, but finally, it will been ruined as many other great concept like you mentioned. I just told people watch their wallet, but they just didn't care, because they just trust what they want.

Many guys argue with me about how great the concept is, what a bright future this coin will have, the pravacy, the freedom, the demacrocy. Yeah, all these they talk about is right, but they forgot a important fact, it is a real world not the utopia. Most people who value this concept, they don't have much coins. And people who have many coins, they just don;t care, they only want profit.
 
hzwill said:
Yeah, I totally agree with you. I have said many many times, the concept of bitcoin maybe awesome, but finally, it will been ruined as many other great concept like you mentioned. I just told people watch their wallet, but they just didn't care, because they just trust what they want.

Many guys argue with me about how great the concept is, what a bright future this coin will have, the pravacy, the freedom, the demacrocy. Yeah, all these they talk about is right, but they forgot a important fact, it is a real world not the utopia. Most people who value this concept, they don't have much coins. And people who have many coins, they just don;t care, they only want profit.
Click to expand...



True dat

wCLTEpM
 
That is a very good point. Greed may ruin it completely. Like everything else in our world.

hzwill said:
Yeah, I totally agree with you. I have said many many times, the concept of bitcoin maybe awesome, but finally, it will been ruined as many other great concept like you mentioned. I just told people watch their wallet, but they just didn't care, because they just trust what they want.

Many guys argue with me about how great the concept is, what a bright future this coin will have, the pravacy, the freedom, the demacrocy. Yeah, all these they talk about is right, but they forgot a important fact, it is a real world not the utopia. Most people who value this concept, they don't have much coins. And people who have many coins, they just don;t care, they only want profit.
Click to expand...
 
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[TD="colspan: 2"] Bitcoin Rules Drafted in Denmark as Regulator Warns Against Use Bloomberg Denmark is readying rules to protect consumers from risks associated with virtual currencies such as Bitcoins after the regulator said it lacked authority ... [TABLE="width: 100%"]
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[TD] China Bitcoin Exchange Ends Third-Party Yuan Cooperation Wall Street Journal SHANGHAI—Prices of virtual currency bitcoin fell 20% Wednesday and are now down more than 50% from their record high hit two weeks ago amid ...
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[TD] US Treasury cautions Bitcoin businesses on legal duties Chicago Tribune ST. LOUIS (Reuters) - The U.S. Treasury Department's anti money-laundering unit is warning businesses linked to the digital currency Bitcoin that they ...
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[TD="colspan: 2"] Bitcoin price halves as China clampdown escalates CNBC.com Bobby Lee, CEO of BTC China, says there is no need to panic after Chinese authorities blocked the country's Bitcoin exchanges from accepting new ...
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[TD] Bitcoin's Security Challenges IT Business Edge The crypto-currency known as Bitcoin was first introduced in 2009 in a paper published by Satoshi Nakamoto. As Kaspersky Lab described the ...
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[TD="colspan: 2"] Bitcoin Dips to $500 After China Blocks New Deposits Mashable China's clampdown on Bitcoin continues, and the virtual currency's prices keep plunging. As of early morning on Wednesday, the price of Bitcoin went ...
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[TD] Bitcoin value slumps after China bank measures Times LIVE Bitcoins were trading Wednesday at less than half their value at the end of last month after Chinese authorities took steps to rein in transactions in ...
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[TD="colspan: 2"] China Bitcoin exchange bans yuan deposits Washington Post HONG KONG — The biggest Bitcoin exchange in China said Wednesday that it's no longer accepting yuan deposits, dealing another setback to the ...
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[TD="colspan: 2"] China's Biggest Bitcoin Exchange Unable to Take New Deposits Bloomberg BTC China, the nation's largest Bitcoin operator, stopped accepting customer deposits amid a central bank clampdown on use of the digital currency, ...
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[TD="colspan: 2"] China Bitcoin exchange bans yuan deposits Businessweek HONG KONG (AP) — The biggest Bitcoin exchange in China said Wednesday that it's no longer accepting yuan deposits, dealing another setback to ...
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TechCrunch

[TD="colspan: 2"] South America Can Now Crowdfund With Bitcoins | TechCrunch John Biggs While the rest of us are messing around with our Paypals and Amazon Payments, some folks in Argentina have created the first crowd funding platform ... [TABLE="width: 100%"]
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[TD="colspan: 2"] Bitcoin Crashes To Around $500 - Business Insider Joe Weisenthal Recent days have brought headlines about Chinese authorities clamping down on Bitcoin — not wanting various institutions to deal in the digital ...
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[TD="colspan: 2"] Announcement: The Tor Project is now accepting Bitcoin Donations ... arma Over the past year, we have received many requests for us to accept bitcoin donations. After careful consideration and research, we are thrilled to ...
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[TD="colspan: 2"] 'What Is Bitcoin' Among Top US Google Searches of 2013 | Digital ... Andrew Couts Google Zeitgeist 2013 shows that, as Bitcoin's price rose and fell, so too did the number of people searching for "what is Bitcoin".
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[TD="colspan: 2"] Chinese Exchange Sends Bitcoin Price Tumbling - The Next Web Jon Russell BTC China's move to stop deposits in Renminbi has sent the valuation of the virtual currency crashing.
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[TD="colspan: 2"] Bitcoin nosedives following crackdown in China | VentureBeat ... Eric Blattberg On Wednesday morning, China's largest Bitcoin exchange stopped accepting yuan deposits, sending the price of the virtual currency tumbling across ...
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[TD="colspan: 2"] Why I want Bitcoin to die in a fire - Charlie's Diary - Antipope! Charlie Stross Bitcoin just crashed 50% today, on news that the Chinese government has banned local exchanges from accepting deposits in Yuan. BtC was trading ...
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[TD="colspan: 2"] Cameron Winklevoss: Bitcoin Might Hit $40000 Per Coin Robert Wenzel "Small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will ...
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[TD="colspan: 2"] Europe's First Permanent Bitcoin ATM Installed in Helsinki Rafael Lemarchand Bitcoin's very first physical step into Finnish soil was made in Helsinki, when Europe's first permanent bitcoin ATM was launched yesterday in a record ...
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[TD="colspan: 2"] Do You Know What Bitcoin Is? - INO.com Jeremy Lutz In a recent Bloomberg phone poll, 46% of Americans had no idea what Bitcoin is, while 42% knew that it was a virtual currency. Even funnier was the ...
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www.forbes.com/.../bitcoin-crashes-as-china-cracks-down-furt...

[TD="colspan: 2"] Bitcoin Tanks On Report That China's Cracking Down Further On ... China has sent the Bitcoin rollercoaster into dip mode. [TABLE="width: 100%"]
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[TD="colspan: 2"] Bitcoin takes a beating: down nearly 50% as China cracks ... - Gigaom After a record run, Bitcoin prices have tumbled back to earth after the Chinese government announced a series of bans on the currency. Here is a chart ...
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[TD="colspan: 2"] Additional Sources Confirm China's Payment Processor Ban, Bitcoin ... The bitcoin price dropped $200 after confirmation of China's block on business between third-party payment companies and bitcoin exchanges.
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Saying greed will ruin Bitcoin is like saying greed will ruin the dollar. Plus, take advantage of the trading opportunities. If you time your trades right you can make some good BTC profits.
 
I am trading it. But the whole point of bitcoin is to be used as a currency. Bitcoin needs to be pegged to something else. Like a good or a service or a basket of goods or services.

Patel said:
Saying greed will ruin Bitcoin is like saying greed will ruin the dollar. Plus, take advantage of the trading opportunities. If you time your trades right you can make some good BTC profits.
Click to expand...
 
I agree. I think Bitcoin is clearly the hedge though. You can see all these other cryptocurrencies peg their value to Bitcoin value. And when they look for profits, they don't look for profits in the alt coin, they look for Bitcoin profits.

The regulation is also coming, I think 2014 we will see lots of that.

condadon said:
I agree with you.
However, cryptocurrencies face some serious challenges:
Look around, there are new Cryptocurrencies "invented" daily. (Gridcoin,Litecoin, Dogecoin, whothefuckknowswhatCoin).
Everyone tries to make a fast dollar while Cryptocurrencies are getting hyped everywhere.
All these new Coins undermine the concept of CC in my opinion and have the potential to destroy it completely.
Virtually every currency has to be believed in to have any value at all. And since there is no real intrinsic value in Cryptocurrencies
Dogecoins ect. will destroy this faith gradually.

You could argue that one could see all these new coins as other currencies(eur,usd,cad...) but i dont think you can make a case for that.

Dont get me wrong -i love the concept of some of these coins(Gridcoin for example) but without any regulation i fear that this cant get mainstream for some time..

just my 2cents
Click to expand...
 
What do you guys think of this Dogecoin?
So awesomeness
Much rich


I mean is this really going to be a decent currency just because of the viral meme society?
 
condadon said:
when that time comes we might see BTC go through the roof, lets hope for it :)
i will position myself when the fog clears for sure.
Click to expand...

i think the thing I am most eager for is to see if the SEC approves the Winklevoss Bitcoin Trust ETF. If that happens, I think the price will see 3-4k by 2015
 
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