What does Bitcoin offer the world economy

[Gelsemium]

Buy when the price is under 100 bucks then. you may get lucky and it might even hit 50 to 75 dollars this year. thats when you buy for sure, even at 100 bucks a coin you should be good to make a lot of profit on that. We have a few things happening in Nasdaq right now that could really explode the value of Bitcoins if the people involved play their cards right. So if you are lucky enough that it hits 100 bucks or less thats when you want to buy.

I am guessing that's a good information, but it's rare to see a bitcoin being worth less that $100 no? What things happening in Nasdaq can make the value of bitcoins explode?

 

[kd3pc]

I guess I am the odd man/woman out...

While in theory the BC may be a good idea, in practice it has seemed to annoy almost every political entity and quite a few economic ones, in very short order. Even those that may enjoy a one world/one currency dogma have little love for BC.

At least here in the US, I don't see the powers that be, releasing ANY control to an alternate currency or one that they can not manipulate or control. The other thing that the US usage of BC has shown, is that most of the transactions are for tawdry things, thus it has quickly gotten a reputation as a black market currency, good only for nefarious purposes.

Perhaps with some spin and effort the reputation may improve, but for now it is more like the "Gold Rush of '49" days and all that entailed.

 

[cyberpinoy]

I am guessing that's a good information, but it's rare to see a bitcoin being worth less that $100 no? What things happening in Nasdaq can make the value of bitcoins explode?

There are a group of brothers Winklevoss brothers, the same ones who sued Facebooks Mark Zuckleburg and won, they have started a new venture. where they are going to attempt to bring in the real investors to bitcoin. They own one of the first Bitcoin Trust companies who expanded to introduce Bitcoin exchange-trading funds, They were also one of the first to be filed with the Securities and Exchange Commission (SEC). their company will offer shares on the Nasdaq where each share of the company represents a certain amount of bitcoins. Meaning everytime you buy shares of thier company you are buying bitcoins. Becasue the Nasdaq has players whose trading portfolios put the wealthiest bitcoin wallets to shame, this move sould potentially bring in a mass flood of buys for bitcoin. If they play their cards right and do what they are supposed to do, they could very well become the next trillionaires while anyone holding stock in their company could become millionaires, ad us, whats in it for us, Nothing but profit.

I guess I am the odd man/woman out...

While in theory the BC may be a good idea, in practice it has seemed to annoy almost every political entity and quite a few economic ones, in very short order. Even those that may enjoy a one world/one currency dogma have little love for BC.

Of course it annoyed every political entity who do you think pays those guys to be in office, Your big banks, your high dollar investors, you market moving commodities traders, and Economically Bitcoins threatens a lot of High dollar people, it does not threaten any economy but the high dollar corporations that run the world right now are the most threatened. The more people look at Bitcoin as a "currency" the harder it is for them to really understand what it is. It is not a replacement for cash, or any worldly currency, it was never meant to be a world currency, it is a transaction protocol, it was meant to feature and co-exist with cash. It is nnot our local currencies that are threatened, its your bank, western union, paypal, all the places that make trillions of dollars off of poeople like you evfery year. that si what is threatened, not any currency.

At least here in the US, I don't see the powers that be, releasing ANY control to an alternate currency or one that they can not manipulate or control. The other thing that the US usage of BC has shown, is that most of the transactions are for tawdry things, thus it has quickly gotten a reputation as a black market currency, good only for nefarious purposes.

Yes tawdry things, yet a 87 foot yacht was sold for over 18,000 bitcoins, property all over the united states sells for anywhere from between 1200 and 12000 bitcoins, exotic cars, huge gemstones, mansions, and even common land, there is land for sale right now in Texas, Nevada, Arizona and other states you can buy with bitcoins. When bitcoin first started out a man bought a pizza for 10,000 bitcoins, and before it was done that transaction in 2012/2013 was worth 10 million dollars. A 10 million dollar pizza how is that for tawdry?

Perhaps with some spin and effort the reputation may improve, but for now it is more like the "Gold Rush of '49" days and all that entailed.

The Gold rush of 49, good example and ask yourself what happened to the early adopters of the gold rush of 49? Thats right they became the most wealthy people in America, and some of their fortune still thrives in thier great great great grandchildrens banks. So ask yourself what are you waiting for, to be last person with your pick and shovel to get a piece like all the late adopters of the 49 gold rush or do you want to be the next Sam Brannan or Mr. Shufelt

 

[krazyman]

In some of the forums I've read this topic of bitcoins has come up a few times. The theory behind the process is great - but there is no actual currency, it's not like a dollar or pound that is tangible and you can hold. The whole idea of cyber currency is very interesting but I think we are many years away before this is something that is used on a regular basis. I understand some sports betting websites and vendors have played with it but no major retailers have jumped on the bandwagon. Amazon played with the idea and then jumped ship - to new - too much change at once for retailers in the present, but an interesting investment for the future.

 

[cyberpinoy]

I guess I am the odd man/woman out...

While in theory the BC may be a good idea, in practice it has seemed to annoy almost every political entity and quite a few economic ones, in very short order. Even those that may enjoy a one world/one currency dogma have little love for BC.

At least here in the US, I don't see the powers that be, releasing ANY control to an alternate currency or one that they can not manipulate or control. The other thing that the US usage of BC has shown, is that most of the transactions are for tawdry things, thus it has quickly gotten a reputation as a black market currency, good only for nefarious purposes.

Perhaps with some spin and effort the reputation may improve, but for now it is more like the "Gold Rush of '49" days and all that entailed.

In some of the forums I've read this topic of bitcoins has come up a few times. The theory behind the process is great - but there is no actual currency, it's not like a dollar or pound that is tangible and you can hold. The whole idea of cyber currency is very interesting but I think we are many years away before this is something that is used on a regular basis. I understand some sports betting websites and vendors have played with it but no major retailers have jumped on the bandwagon. Amazon played with the idea and then jumped ship - to new - too much change at once for retailers in the present, but an interesting investment for the future.

Actually Amazon played with it so much they made their own coin, since the Bitcoin protocol is open source, they just tried the use out with bitcoin then made their own coin. Its not what we consider crypto currency its more just a simple little Virtual Currency. You can see their coins here Amazon Coins. So the technology behind bitcoin is rather impressive, especially since your banks transaction protocol was written in the 80s. All banks are still using the same original transaction framework they had over 30 years ahgo. and the actual transaction process of your bank is actually very very slow especially compared to Bitcoins.

 

[Gelsemium]

There are a group of brothers Winklevoss brothers, the same ones who sued Facebooks Mark Zuckleburg and won, they have started a new venture. where they are going to attempt to bring in the real investors to bitcoin. They own one of the first Bitcoin Trust companies who expanded to introduce Bitcoin exchange-trading funds, They were also one of the first to be filed with the Securities and Exchange Commission (SEC). their company will offer shares on the Nasdaq where each share of the company represents a certain amount of bitcoins. Meaning everytime you buy shares of thier company you are buying bitcoins. Becasue the Nasdaq has players whose trading portfolios put the wealthiest bitcoin wallets to shame, this move sould potentially bring in a mass flood of buys for bitcoin. If they play their cards right and do what they are supposed to do, they could very well become the next trillionaires while anyone holding stock in their company could become millionaires, ad us, whats in it for us, Nothing but profit.


Of course it annoyed every political entity who do you think pays those guys to be in office, Your big banks, your high dollar investors, you market moving commodities traders, and Economically Bitcoins threatens a lot of High dollar people, it does not threaten any economy but the high dollar corporations that run the world right now are the most threatened. The more people look at Bitcoin as a "currency" the harder it is for them to really understand what it is. It is not a replacement for cash, or any worldly currency, it was never meant to be a world currency, it is a transaction protocol, it was meant to feature and co-exist with cash. It is nnot our local currencies that are threatened, its your bank, western union, paypal, all the places that make trillions of dollars off of poeople like you evfery year. that si what is threatened, not any currency.



Yes tawdry things, yet a 87 foot yacht was sold for over 18,000 bitcoins, property all over the united states sells for anywhere from between 1200 and 12000 bitcoins, exotic cars, huge gemstones, mansions, and even common land, there is land for sale right now in Texas, Nevada, Arizona and other states you can buy with bitcoins. When bitcoin first started out a man bought a pizza for 10,000 bitcoins, and before it was done that transaction in 2012/2013 was worth 10 million dollars. A 10 million dollar pizza how is that for tawdry?



The Gold rush of 49, good example and ask yourself what happened to the early adopters of the gold rush of 49? Thats right they became the most wealthy people in America, and some of their fortune still thrives in thier great great great grandchildrens banks. So ask yourself what are you waiting for, to be last person with your pick and shovel to get a piece like all the late adopters of the 49 gold rush or do you want to be the next Sam Brannan or Mr. Shufelt

Thanks for the answer cyber! I hope that goes in the right direction, if it's bubbling at such a high level anything can happen right now. It's still too volatile though.

 

[kd3pc]

The theory behind the process is great - but there is no actual currency, it's not like a dollar or pound that is tangible and you can hold.

While you may think a dollar or pound is tangible, neither is any more real than a BC. And neither has any value, inherent or otherwise....except what the government assigns to it. It is merely a piece of paper, making promises - much like an IOU.

The days of any world currency being backed by gold/silver/anything other than, the full backing statement the US makes, is flawed thinking. The dollar can be worth, or not worth, almost anything....it's "value" is set by the Government and is the result of policy and politics more than anything.

 

[KimberlyD]

I am noticing that a lot of major companies are getting into bitcoin, they just call it by other names, such as the one cyberpinoy mentioned... Amazon Coin. Microsoft have picked up bitcoin and I heard on the grapevine (though I don't know if it is true or not) that facebook, twitter, and other social media sites may start using bitcoins. Would not know what they may use it for unless they are going to start a store on there. I think Google store accepts a form of bitcoin... I'm not quite sure.

 

[Sklauda1]

With what banks can do today, I think Bitcoin is unnecessary. It is also way too unstable to use for anyone. You either lose all your money or you are the very select few that earn money from it when the value goes up. And that is another thing, like I said it is unstable. The value rises and falls like stock. Sites like PayPal are on their way to this sort of thing. I trade goods with people internationally all the time and I use PayPal or ClickBank.

 

[cyberpinoy]

With what banks can do today, I think Bitcoin is unnecessary. It is also way too unstable to use for anyone. You either lose all your money or you are the very select few that earn money from it when the value goes up. And that is another thing, like I said it is unstable. The value rises and falls like stock. Sites like PayPal are on their way to this sort of thing. I trade goods with people internationally all the time and I use PayPal or ClickBank.

Banks are using a transaction protocol that was written in 1980. it the slowest process in the transaction of funds their is. A bitcoin transaction is way more stable than any bank transaction. You are so concentrated on making a profit from it you dont see its intended use. It is a way to trade and make money, but that is not its intended use. But what if that was all you did with the American Dollar, trade it on the market for a profit? You would be broke right now if you did. Its value has absolutely plummeted over the past 5 years worse than Bitcoin. Ask yourself how much does a bank charge for insufficient fees charges because they process transactions out of order. they allow a transaction to process and eat all the funds available before they process a deposit that was made before the debit transaction was made, putting your account in the negative and giving you Insufficient funds fees on the next 7 transactions, by then when your deposit has posted to your account you have paid the bank 35 dollars in losses. This is not possible in bitcoin transaction, How about those insufficient funds fees added with the overdraft fees another 45 dollars for the same transaction you just paid 35 dollars in fees for, Now your deposit just lost 80 dollars in total. Again not possible with Bitcoin. then you will have a maintenance fee at the end of the month because your account fell below the minimum monthly balance another 5 to 20 dollars in fees. With Bitcoins the bank can not move deposits and debits around as they please, once the transaction hits the Blockchain it is time stamped and locked in, plus you can never ever go over the amount you have in your account it is not possible to ever send bitcoin you do not have. Your bank and your Cash accounts are way more unstable than any bitcoin wallet

 

[ProShell]

Here is the issue behind that.... it will cause economic melt down in some countries. Now I am for world unity and a singular currency throughout the world but if we were to try and do that... poor third world countries would be in a lot of trouble.

Poor third world citizens would be in great shape, though.

Right now the biggest problem in the third world is inflation. The money that they earn is quickly made worthless.

Bitcoin prices fluctuate, but the biggest issue in BTC over the long term is deflation, that they get so expensive in terms of fiat currency that they are hard to earn and hard to spend.

If all the poorer citizens bought bitcoin, they would be in better shape long term than keeping their money in inflating dollars.

 

[krazyman]

I think right now bitcoin could be an investment strategy that people could play around with in their spare time. There are plenty of faucets and other mining websites - but you wouldn't make any serious money (at least not off of the stuff that I have seen). However if you are willing to invest money the possibility for making more could be there. I have invested no money and not sure if any of you have. I need to do more homework before I start investing in bitcoin. This is by no means a marketing ploy to get anyone to invest - please don't read it that way.

 

[cyberpinoy]

I think right now bitcoin could be an investment strategy that people could play around with in their spare time. There are plenty of faucets and other mining websites - but you wouldn't make any serious money (at least not off of the stuff that I have seen). However if you are willing to invest money the possibility for making more could be there. I have invested no money and not sure if any of you have. I need to do more homework before I start investing in bitcoin. This is by no means a marketing ploy to get anyone to invest - please don't read it that way.

I wish everyone thought like this, One of the problems I have in the crypto currency world is the people who do not do their homework. because the exchanges do not have any guidelines ( and I am hating I am saying this) but they need something to keep the kids and inexperienced people out of the markets. Why would I say this, because it simply gives bitcoin a bad name and raises panic all over the industry. people who have no idea about trading jump in and buy high in hope to sell higher, then when the value drops and they are in the negative they sell out in a panic and push the market even lower then plaster the internet with bad attention as to how they lost their butt on the bitcoin market and how horrible unstable and volatile it is. Not understanding people like them are exactly why it is so unstable and volatile. we have more panic sellers and inexperienced traders in the bitcoin industry.

I do not try and place a fiat value on my bitcoins to me 1 bitcoin is worth 1 bitcoin, and my basis is Bitcoins. SO to me 1 dogecoin is not worth a dollar amount it is worth 0.00000060 Bitcoins, Litecoins dont have a dollar value to me they are worth 0.00080000 Bitcoins and so on. I use Bitcoins as my basis without worrying about its dollar value.

People do need to really do thier homework when investing in bitcoin especially if they want to day trade them. There is a lot of money that can be made day trading because the value moves up and down 20 dollars a cin all day every day, but it also drops a solid 30 dollars over the course fo 2 weeks because of the miners and merchants dumping their coins bi-weekly to cash them out and pay for expenses that need paid in cash.

So please just as krazyman said you need to do your homework, dont just blindly invest thinking you will get rich quick or overnight, because the time of the overnight millionaires in bitcoin is long over. Dont be afraid to ask questions, and get a lot of different opinions, and choose your sources wisely, just because they have been in bitcoin since 2009 does not make them a professional in the industry with an opinion or advice that matters. there are a lot of people in this industry who made it big because they got unsuspecting new investors to do something that benefited them more so than the new investor.

Right now I would invest in a good solid cloudmining site, and not some scam site you really REALLY have to research a cloud mining site before investing in it. But by doing this, and finding a cloud site that is not a scam, its a way to make money on your money, You invest X amount of dollars in bitcoins and buy cloud mining and it earns you X amount of bitcoins a week or month, tthus allowing you to always be collecting bitcoins.

 

[freeofcharge]

This is extremely interesting. I love the idea of Bitcoin as a currency however until they make it easier for the average joe to obtain bitcoins en masse or in any sustainable way, I don't think you'll start to see the Bitcoin or any other crypto-currencies gaining wide-spread traction amongst common, non tech-savvy folk