A Glimpse into the Future of Bitcoin

[nate0wnsy0u]

OK, Can you also tell me what will be the name of my wife, and how old am i going to be when i die?
I'm well invested in cryptocurrencies but i dont think you should make such assumptions, what are they based on?

lol exactly, little too far fetched for me to listen to.

 

[Patel]

At the moment there is a security flaw and people cant even withdraw money.

:bryce:

you don't know what you're talking about.

The protocol is 100% secure, some 3rd party exchanges had insecure implementations. And Gox has had withdrawal problems for the past 6 months.

 

[Iridescence]

These numbers are too high of predictions, it simply won't happen.

 

[Toz]

:bryce:

you don't know what you're talking about.

The protocol is 100% secure, some 3rd party exchanges had insecure implementations. And Gox has had withdrawal problems for the past 6 months.

^

i really much doubt your theory and calculation.
first like W130SN said majority of people doesn't even have internet, and i will add to that 30% of the internet users are in the internet for porn and social media. ( and most of them don't even know what is bitcoin )

OK let assume for a second here i am a fool for not believing, and you are correct.

and it reached the cap i made for 50k

ok now the bitcoin worth 1k, that is a difference of 49k, right?
so money will just grow in trees? or money will rise? because you will have over 49,000,000,000,00 new currency.
of course they won't let it rise ( because if the money rises that much the economy will collapse)
let me just explain to u the term money is just how much u have gold stocked ( but we will talk about it later )

right?

so you will be taken money from people, from governments, to fill that gap

aka more poor people, aka more people unhappy cause they can't pay for food, aka no jobs.

the economy basic: if something collapses, another thing will take it is place

Live IM example, when movie2k.to collapsed and got shutdown, a lot of movie sites showed in the picture like viooz...etc
and now when movie2k came back as movie4k, what happened?
there is a war going on in the first places of movie niche.

Did you see the word 'war' in there?

so for your theory to work the us have to adopt the bitcoin currency and drop the dollar.
which you will never see cause in the internet you can't control everything.

lets assume i am wrong and US does control all the internet and adopt bitcoin
which will be unchangeable in very very poor countries 'what do u think it will happened to them? '

it is amazing how you think that the bitcoin will come and just take over the currency ( and nothing will happened )

i hope you don't misunderstand me, i just trying to make a point here

if your calculation is correct 'war is coming' ( that is why i am doubting in the first place )

and as we speak the bitcoin worth 1k, i just wanted you to know that somewhere, somehow, in this moment, there is a father that can't find food for his children' and there is people getting fired...

i hope u understood me, if not i am welcoming any mean or comments like ' u are fool'

anyway thanks for reading this

Let's look at the people that are on the internet for porn, as you pointed out...
Bitcoins (or other cryptos) are PERFECT for this! There will be no credit card statements coming to your wife to find, seeing that you were at naughtyblackhoes.com, spending money! It's discrete.

It has nothing to do with you being a fool for not believing. All I'm saying is that Bitcoins used to be worth $2. Now they're worth $600+. This all happened in just a few years. That's proof enough that this has all the potential it needs, in order to grow another 30,000+%.

You're right. Not a lot of people know about it. It's still new. What happens when a lot of people DO know about it? It will grow even more.

I've never heard of movie2k, but yes, this may cause a bit of a war. I never said it wouldn't. It's actually quite possible. People have faught battles over taxation rights, and this is like 1,000x bigger.

Yes, it will create more poor people, hence what I said in the original post. ..and there are already fathers that cannot afford food for their children.

My calculations are nothing more than guesses. I obviously cannot have surefire numbers to support what I believe will happen, as we are currently living in 2014, and my future self hasn't come to me, explaining how he just found some time machine, yet. Basically, those numbers were nothing more than a way for me to display how I feel the exponential growth will be seen, by perhaps the most innovative solution to financial security, we'll ever see in our lifetimes.

Look at the people that purchased thousands of bitcoins in 2009. Imagine how many people told them they were stupid for buying them. How many of these guys are now, four years later, multi millionaires?

Exponential growth.

 

[whynotmakeit]

In a years time half of us will be saying 'I told you so', the other half will be wishing they had/had not.
There is no way of knowing the right answer. If you have some spare cash it's worth the risk in my opinion. You will still never be happy tho. If it tanks you will regret it. If you make bank, you will spend the rest of your life kicking yourself for not investing more... a la apple, google etc shares....

 

[jazzc]

One word. Tulips.

What 's wrong with tulips? Don't simply buy into the hype.

The tulip market was mainly composed by wealthy Dutch merchants. In case you have no idea, Dutch merchants in the 17th century dominated world trade, being the engine of the "then" economic superpower.

In other words, the faery tale of "stupid people who rushed to make a quick buck" is just for popular consumption.

Thompson 's analysis seems to provide a very reasonable explanation. You can it in the wikipedia page, scroll down to "Legal changes". In short, a law changed the "futures" contracts into "options" contracts, making it 30 times cheaper to invest. Doesn't take a genius to figure out how that drives prices up, up, up. The government revoked the law in early February, making it 30 times more expensive to invest. Guess what, that 's exactly when the market prices fell.

So let 's see - on the one hand "greed", on the other hand "market responding to the changing environment". It 's obvious why people tend to choose greed. It fits well with the childish view of the world they 've been fed up with all their lives.

 

[potential]

100% speculative BS
Bitcoin has gotten the ball rolling for crypto currency but it won't be the champ
BTC has a max # of bitcoin that can be 'produced' and in circulation... so it just encourages people to simply hoard, making it an imperfect currency
one that will be replaced in the near future with a 'proper successor'

 

[Toz]

100% speculative BS
Bitcoin has gotten the ball rolling for crypto currency but it won't be the champ
BTC has a max # of bitcoin that can be 'produced' and in circulation... so it just encourages people to simply hoard, making it an imperfect currency
one that will be replaced in the near future with a 'proper successor'

I believe you are correct. I honestly have my doubts that it will be Bitcoin, officially, that will meet these numbers. Then again, it can. There will be SOME cryptocurrency that will do it. Whether or not its name is "Bitcoin", who knows..

 

[prab1996]

And if us launched a Dollar coin then ever other coin will get fucked.

you can already pay to any one in $$ with paypal and credit card.

it will never become that big
why ?

*it's a privately owner currency
*it's value is like gold
*who will like to a currency with which you can buy 1 tomato today and next day 1/2 tomato and other day 2 tomato.

atleast with $ you get a stability (govt tries to make it stable and bitcoin owner is unable to make it stable since it started. )

-=-

 

[jazzc]

100% speculative BS

Absolutely nothing wrong with speculation. On the contrary, it provides a great social service. If you want to understand why, I can reference you to the relevant economic theory.

BTC has a max # of bitcoin that can be 'produced' and in circulation...

That 's one of the things we like and make crypto-currencies valuable. No central planner to print money out of thin air and inflate the shit out of it.

so it just encourages people to simply hoard, making it an imperfect currency

Nothing wrong with hoarding. First you hoard, then you spend.

 

[potential]

And if us launched a Dollar coin then ever other coin will get fucked.

you can already pay to any one in $$ with paypal and credit card.

it will never become that big
why ?

*it's a privately owner currency
*it's value is like gold
*who will like to a currency with which you can buy 1 tomato today and next day 1/2 tomato and other day 2 tomato.

atleast with $ you get a stability (govt tries to make it stable and bitcoin owner is unable to make it stable since it started. )

-=-

^i don't think you understand the WHOLE POINT of bitcoin & cryptocurrency is to GET AWAY FROM GOVERNMENT Control.
Fyck the guvt and their totalitarian control of the money supply...they (and the big banks) are threatened by $$ they don't control
Just ask Gaddafi, he was proposing a new Gold dinar as the default currency for OPEC countries to buy/sell oil... next thing you know there was an invasion & he's gone
One of the first things that happened was a new Federal Bank was setup

edit:

That 's one of the things we like and make crypto-currencies valuable. No central planner to print money out of thin air and inflate the shit out of it.

BTC will fail in the long run. I understand what crypto-currency is, but BTC's max amount of coin production is its Achilles heel...

 

[jazzc]

BTC will fail in the long run.

It might. Obviously, if a law passes that anyone who owns BTC will be flogged and hanged, that would drastically reduce its price. Nevertheless, if it fails, it won't be because of its characteristics but due to external force or if a more attractive coin appears.

I understand what crypto-currency is, but BTC's max amount of coin production is its Achilles heel...

On the contrary. This was a fantastic decision and what sets it apart from say Paypal or Google Wallet or whatever. It provides part of the built-in defence against inflation. Inflation in economics is the increase of the money supply.

 

[Toz]

The thing you guys have got to remember is that BTC is just ONE coin. There are a lot that's already been established. There are many that's currently being established, and I promise there will be more that become established. This is only the beginning.

 

[Toz]

Cryptocurrency is already a multi-billion $ industry, and it's only technically 4 years old. Fiverr can see the future. They made sure to get onboard. How long until other companies jump in?

Whether you guys are ready or not, this world is evolving.. You see the stuff Amazon is talking about doing -- they want to send drones to peoples' houses to deliver products (LOL)!

So what is it that makes a new and more secure form of currency so disturbing to people? As soon as I learned about cryptocurrency, I devoted literally every waking moment to learning more and more and more about it! This is perhaps one of the most interesting things I've ever learned about (and from being an internet user since 1995, I've learned about some pretty interesting things)!

 

[socialseos]

Cryptocurrency is already a multi-billion $ industry, and it's only technically 4 years old. Fiverr can see the future. They made sure to get onboard. How long until other companies jump in?

Whether you guys are ready or not, this world is evolving.. You see the stuff Amazon is talking about doing -- they want to send drones to peoples' houses to deliver products (LOL)!

So what is it that makes a new and more secure form of currency so disturbing to people? As soon as I learned about cryptocurrency, I devoted literally every waking moment to learning more and more and more about it! This is perhaps one of the most interesting things I've ever learned about (and from being an internet user since 1995, I've learned about some pretty interesting things)!

whats the the best way to invest, I know nothing about bit coins, what's the best source if you don't mind?

 

[shinmagisin]

Is there any other coins you should be looking out for besides bitcoins or Doge coins? That may be worth investing in? Also is there a guide on crypto currency's and how to profit from them.

 

[Patel]

Is there any other coins you should be looking out for besides bitcoins or Doge coins? That may be worth investing in? Also is there a guide on crypto currency's and how to profit from them.

xcp increased 15x in a matter of 2 weeks

edit: it was just listed on coinmarketcap today and poloniex.com added it 2 days ago. It has its own inbuilt distributed exchange, but for the less tech savvy people, better to use a centralized exchange. XCP has similar functions to a stock exchange, in a decentralized manner.

 

[DiamonMike]

Nostradamus, is that you nigga? )))

 

[Toz]

Is there any other coins you should be looking out for besides bitcoins or Doge coins? That may be worth investing in? Also is there a guide on crypto currency's and how to profit from them.

Here's a good starting point:
http://coinmarketcap.com/

Go to that site, and on the left side, you'll be able to click on the name of each cryptocurrency, and it will take you to their respective homepage. Bookmark the ones that have pages that interest you. Read what they're about. Visit and sign up for their forums. Become an active member. Each cryptocurrency literally has its own community. Now is, in my opinion, the perfect time to become a part of their communities. I found one coin, in particular, that I like more than the others. Find yours!

 

[prab1996]

^i don't think you understand the WHOLE POINT of bitcoin & cryptocurrency is to GET AWAY FROM GOVERNMENT Control.
Fyck the guvt and their totalitarian control of the money supply...they (and the big banks) are threatened by $$ they don't control
Just ask Gaddafi, he was proposing a new Gold dinar as the default currency for OPEC countries to buy/sell oil... next thing you know there was an invasion & he's gone
One of the first things that happened was a new Federal Bank was setup

ok , so who will guarantee that bitcoin owner will not start stealing coins or producing for his own profit ?

atleast govt is answerable to people and if you not like it then you can change it in elections and they have to make decisions by remaining in limits of rules and constitution .

-=-