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

W130SN said:
I agree and people are shouting these things so loudly that anything negative about BTC is being drowned out.
All people are hearing, OR WANT TO HEAR, are about the massive gains.
This doesn't meant it is sustainable.
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It also doesn't mean the negative articles actually have a point and/or are worth consideration. Even in this thread, the majority of negative articles you've posted are based on ignorance or misunderstanding. So, is that a fault of bitcoin, that "journalists" can't do their research?

the thing is, with bubbles, media attention fuels the rise. and we're just starting that phase right now. So, the bubble will increase for a while, still.
 
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wexzone said:
listen, W130SN, please don't post a bunch of links from crap sites like businessinsider. Not only are they full of shit, it just spreads misinformation by people who do not understand bitcoin, nor currencies as a whole. the majority of the links you posted just then are not credible at all.
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I will post whatever links I want, Mate.

You are welcome to post anything to counteract that information or comment as you see fit.

Your tone suggests you are getting stressed, may I suggest you take a break from this thread for a few days and calm down a little.
 
but i will tell u 1 thing. the bitt coin wont last for too long , to much greedy bastard out there who want us to pay taxes, who even want a bottle of water to cost 100$ for all they care. and those people control everything.
 
wexzone said:
listen, W130SN, please don't post a bunch of links from crap sites like businessinsider. Not only are they full of shit, it just spreads misinformation by people who do not understand bitcoin, nor currencies as a whole. the majority of the links you posted just then are not credible at all.

As far as dollars being better than Bitcoin, that's just plain false. Every single day, the value of your USD falls. EVERY DAY. Even if bitcoin maintained its value (didn't increase), it would be leaps above the USD. That article you linked to seem to brush off centralized control like it was no big deal, but when it means that your savings is constantly decreasing in buying power, it means a whole lot.

Another thing he seems to ignore is counterfeiting. Counterfeit Fiat is a major problem and costs billions of dollars annually. Bitcoin is immune to that. No big deal, I guess.

To even send USD worldwide or instantly, you need a variety of services to help you out, and they all take fees (like credit card companies). Bitcoin's sending is in the core protocol. Another win for BTC that was ignored in that article. Try sending $10M to China right now in USD. it'll cost you a small fortune. In Bitcoin, it'll cost you $0.17. That's less than a postage stamp.

So, no, USD isn't even close, and for people who can't even see the disadvantages of old-world tech in a new tech world, then they'll be left behind, just like all those bookstores that said "no one will ever buy books online"
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If that's your primary argument for bitcoin, may God help you...

The value of bitcoin is based purely on demand/hype. That alone is a major flaw. The US dollar has a multi-trillion dollar infrastructure, a government, things with material value to back it up. Bitcoin may be the future, but a country like the United States has no reason to be an advocate for it, and multiple reasons to be against it.

Without a strong political advocate, Bitcoin will never amount to anything. It will just continue to be used as an untaxable currency, used over the internet for drugs, gambling, etc. Used for that until its industry becomes too big, and governments decide to put it down.

Not trying to be too 'Merican here, but Bitcoin will never go anywhere without the United States allowing it, all the scenarios that involve the US debt, taxes, China, and political implications point back to that conclusion. Bitcoin may become a viable currency on its own, but if it gets there, the US will have no choice but to shoot it down, and if the US does, Europe will have to follow suit, or at least reconsider ever becoming an advocate for it.
 
As BitCoin Touches $400 The Senate Starts Seeking Answers... As Does The Fed

So as more and more pile into the electronic currency, some due to ideological reasons, some simply to chase momentum, some out of disappointment with the manipulated gold price looking to park their savings in an alternative, non-fiat based currency, which a year ago traded 40 times lower, the attention of the government is finally starting to shift to what has been the best performing asset class in the past year, outperforming even the infamous Caracas stock market.
Which means one thing: Congressional hearings.

Source: http://www.zerohedge.com/news/2013-11-09/bitcoin-touches-400-senate-starts-asking-questions-does-fed
 
The Mentalist said:
Not trying to be too 'Merican here, but Bitcoin will never go anywhere without the United States allowing it, all the scenarios that involve the US debt, taxes, China, and political implications point back to that conclusion. Bitcoin may become a viable currency on its own, but if it gets there, the US will have no choice but to shoot it down, and if the US does, Europe will have to follow suit, or at least reconsider ever becoming an advocate for it.
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kinda like torrent and drugs, huh? oh wait...

we just got word that politicians can receive campaign contributions from bitcoin, so I think you'll see politicians "allowing bitcoin" as long as the money flow continues.
 
W130SN said:
I will post whatever links I want, Mate.

You are welcome to post anything to counteract that information or comment as you see fit.

Your tone suggests you are getting stressed, may I suggest you take a break from this thread for a few days and calm down a little.
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listen, I didn't mean it like that. I just meant that a lot of those articles are just so... hmmmm? it's not being biased to sort information according to credibility.

and I'll chill, but let's have a REAL discussion about things, too.
 
wexzone said:
listen, I didn't mean it like that. I just meant that a lot of those articles are just so... hmmmm? it's not being biased to sort information according to credibility.

and I'll chill, but let's have a REAL discussion about things, too.
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OK, no problems, accepted, although credibility will depend on a persons perspective.

I have tried to be balanced but if you feel it isn't then feel free to post and add to it.

As for discussion and debate, that was the sole purpose of this thread.

Cheers
 
Looks like a correction is in the forecast
 
27% drop, pretty neat to watch.
I'm glued to the Chinese exchange right now: http://bitcoinwisdom.com/markets/btcchina/btccny

if you guys are interested in arbitrage, this is a good site: http://www.coined.com/

I figured out a great use for litecoin, as an arbitrage vehicle between the major exchanges. There's sometimes a 20% spread between China and the Russia and the US. If China picks up Litecoin, that will change, and that gap will close, and people will make a lot of money in doing so. LTC is perfect for this.
 
I want to know how people use it for money laundering, and where to find these people...lol
 
Take a Tour of Robocoin, the World?s First Bitcoin ATM


bitcoin2-15-660x440.jpg


http://www.wired.com/wiredenterprise/2013/10/bitcoin_atm_gallery/
 
that bitcoin ATM in Canada made like $100K the first week of operation.

How hard would it be to build something that took fiat and gave you a bitcoin address, instead? Other than scanning the fiat, the rest is easy.

Anyone know where you can get fiat scanners/counters?
 
Very hard to say, they definitely are the way of the future but as they are not physical there is always a degree of uncertainty in regards to the safety etc.
 
Mikaelo said:
Very hard to say, they definitely are the way of the future but as they are not physical there is always a degree of uncertainty in regards to the safety etc.
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Gold Backed Currency >> Fiat Currency >> Bit Coins = Progress??

Hard to say for sure. The maglev has left the station.





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Mikaelo said:
Very hard to say, they definitely are the way of the future but as they are not physical there is always a degree of uncertainty in regards to the safety etc.
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The last time I needed physical money was about, uhm 3 years ago? Everyday's payments are made with credit card, so on my end all the transactions became digital 3 years ago.
 
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