BITCOIN DEAD ¿?

Bitcoin is way too risky for me. Would never deal of trading it

mlawson71 posted:

leo23 posted:

It is possible that every country, every community and every company can have their own cryptocurrency of their own.

That is indeed possible, but I am not sure whether it will occur in the next twenty years. People can be very conservative when it comes to money.

Twenty years is a very long time. I expect this to happen much earlier because of 2 fundamental reasons:
1.Economic collapse in many countries due to which people will not trust the current economic system and current government and will definitely search for alternate ways to store value and transfer value with each other. That is exactly why Bitcoin was developed and that's why it succeeded so much so far.

But of course since cryptocurrencies are based on new technology and decentralized and hence, many people will be conservative too. The cryptocurrency prices should maintain a stable price range like the fiat currencies to do daily transactions.

2.Another reason is due to the rapid exponential growth of science and technology. I am sure that after 10 to 20 years no one will be writing posts and comments in forums or website at least the way we are doing now and the whole world will be completely different the way everything works now and hence, financial system will be the first to be changed where cryptos will take the lead.

MIII posted:

wortrader posted:
This is only fanatic mania. Nothing like invest... bitcoin explode and fall back in 200 usd value. running only from stupid people what buy it. i can be wrong ofcourse.

many of those stupid people are now multi millionaires.....with 200 usd 😎

The guy who got first 10,000 BTC bought 2 pizzas for that.
Was he an idiot? Nope he was bad trader as majority of traders he did not evaluate the assests he has got.

---

Bought on 22nd May 2010 by Laszlo Hanyecz, the programmer paid a fellow Bitcoin Talk forum user 10,000 BTC for two Papa John’s pizzas. Back then – when the technology was just over a year old – that equated to roughly $25, but is $5.12m by today’s exchange rate.

At bitcoin’s all-time high last December, the pizzas would have been worth an eye-watering $40m, making them likely candidates for the most expensive pizzas of all time.

Now widely recognised as the first real-world transaction with bitcoin, May 22nd has come to celebrate 'Bitcoin Pizza Day', with cryptocurrency enthusiasts raising a slice to Hanyecz’s infamous hunger pangs that paved the way for early merchant adoption.

I wish I had bought 250 @ $4 six years ago, when everyone knew it was a scam and dying.

leo23 posted:

mlawson71 posted:

leo23 posted:

It is possible that every country, every community and every company can have their own cryptocurrency of their own.

That is indeed possible, but I am not sure whether it will occur in the next twenty years. People can be very conservative when it comes to money.

Twenty years is a very long time. I expect this to happen much earlier because of 2 fundamental reasons:
1.Economic collapse in many countries due to which people will not trust the current economic system and current government and will definitely search for alternate ways to store value and transfer value with each other. That is exactly why Bitcoin was developed and that's why it succeeded so much so far.

But of course since cryptocurrencies are based on new technology and decentralized and hence, many people will be conservative too. The cryptocurrency prices should maintain a stable price range like the fiat currencies to do daily transactions.

2.Another reason is due to the rapid exponential growth of science and technology. I am sure that after 10 to 20 years no one will be writing posts and comments in forums or website at least the way we are doing now and the whole world will be completely different the way everything works now and hence, financial system will be the first to be changed where cryptos will take the lead.

Regarding your first point, I think that 20 years may seem like a long time from a human point of view, but from a historical point of view that period isn't that long at all. Also, so far we haven't headed toward such a massive global economic collapse. Then again, weirder things have happened.

Regarding your second point, I actually agree.

Cryptos will never take the lead because if they ever start to become mainstream then governments will start imposing huge regulation on them

SAFXEater posted:
Cryptos will never take the lead because if they ever start to become mainstream then governments will start imposing huge regulation on them

The main reason why cryptocurrencies become popular is because goverments can never regulate cryptocurrencies. If you are considering regulating the crytpocurrency exchanges, then note that cryptos can be bought and sold by cash as well. So the government has to ban all the fiat currency notes from the country. Or they have to shutdown the internet entirely to regulate cryptocurrencies.

But my point is what if there will be no government in a country. Someone may laugh at it as how is it possible to run a country without a government, but that's the goal of cryptocurrencies is to eliminate goverments as well as banks and remove regulations on money transactions.

It is just another marker. Everybody is trading as per his/her own point and understanding and just the level of the equity will show him/her the true :)

CoolKimOne posted:
Bitcoin is way too risky for me. Would never deal of trading it

Don't think BTC too risky because it is based on blockchain concept & it is going to revolutionize the world transactions
& now Big news is BTC is just 1 trading session away to touch $5000....Read Here.. https://goo.gl/qQpNv5

AlexanderPetrex posted:

CoolKimOne posted:
Bitcoin is way too risky for me. Would never deal of trading it

Don't think BTC too risky because it is based on blockchain concept & it is going to revolutionize the world transactions
& now Big news is BTC is just 1 trading session away to touch $5000....Read Here.. https://goo.gl/qQpNv5

Correct...

By the way, BTC already reached 5000 USD last time before the big drawdown. My nearest target is 6000 USD.

Bitcoin increasing rapidly , It has grown to its hights any is setting new standards for itself.

How can it be dead? It is still growing higher and higher with almost 5200 at the moment and I personally feel 6k is not so far now.😄

How times change.
Only two years ago the EU was planning on cracking down bitcoin and cryptocurrencies in general (https://www.forexbrokerz.com/news/eu-plan-crackdown-virtual-currency-anonymous-payments-fight-terrorism-funding) due to concerns about money laundering and financing terrorism and now large parts of the world, including the EU, seek to embrace them.

But the Price arrive to 5850 USD

Bitcoin hit a new record high of $5,856 this morning, but the question everyone will be asking is, can the rally continue?

AbelardFX posted:
Bitcoin hit a new record high of $5,856 this morning, but the question everyone will be asking is, can the rally continue?

By saying rally will continue if you mean whether Bitcoin will continue to increase more and more without any big pull back or drawdown, then the obvious clear answer is NO. It will definitely give pull back and big drawdowns while time passes by, but when the retracements will happen I don't know.

But if you are referring whether Bitcoin price will increase more and more in future, then I have an obvious answer YES. In fact, I can say it is just a beginning when many people say it is end or it is bubble or BTC is dead etc.

BTC price may reach at least 25K within next few months and as high as may be 100K within next couple of years very easily.

CySEC just installed new rules about trading cryptocurrencies in Europe. The regulator has set limitations on the trading conditions of CFDs on cryptocurrencies offered by its charges. (https://www.forexbrokerz.com/news/CySEC-sets-leverage-volume-limits-on-cryptocurrencies-CFDs-cancels-EU-passporting-rules-on-those-instruments)
Probably the most significant part of the document concerns the banning of exercising of EU passporting rules when offering CFDs on cryptocurrencies. In other words, if trading in cryptocurrencies or products with them is forbidden in a given EU or third country, the broker should not offer those products in it.
Also, under the new rules, the brokers must not offer to retail clients a leverage of more than 1:5 on those instruments and the volume of crypto CFDs should not exceed 15% of the total turnover of the broker per quarter.

In my opinion, regulators taking cryptocurrencies this seriously is another sign of their growing popularity.

rodragon posted:

Bitcoin is dead?

Big NO. Not Possible.

It is Biggest Cryptocurrency & Big in Market Capitalisation.

Bitcoin Prediction 2030: Kim Dotcom Says $100,000 Bitcoin Price Is Possible

Read More... https://goo.gl/VnqNo5

It might be, but it might not :)
There were a saying that came out in my mind always when I see similar saying - The Wall Street gurus are always wrong' :). Of course the concept is a bit different here, but in general ... :)