11–20 of 40 posts
I wouldn't call this "scary." It's not tough to apply basic technical analysis to charts. It may or may not go down, but TA isn't set in stone and only works in the long run in retrospect. See, e.g., the double top: http://www.forexhit.com/learn-forex/price-patterns.html
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
I've given this a little thought at least: http://erikaugust.com/blog/thought-on-bitcoin
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
There are not 7 billion people that this will impact. How many of those have no access to a computer of any sort, including a mobile phone? How many are under the age of ten? That cuts out a huge chunk from that figure.
Then subtract all those too old to care about Bitcoin or internet anything.
Then remove from that those that have little faith in anything they can't touch and hold, physical currency, precious metals, or simply commodity items. Considering how reluctant some groups are to even use credit cards for online purchases, regardless of the enormous level of consumer protection provided by that service, this is an insurmountable hurdle for some.
There's at most a billion people in this market and for it to get that pervasive it will take an enormous upswing in popularity. At this point Bitcoin isn't even as popular as Cuban Pesos.
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
That's the big question isn't it? Will bitcoin take over, or will another digital cryptocurrency conjured out of the ether take over? (bitcoin 2.0)
> So there is 0.003 bitcoin per person.
There's some bitcoin amounts that are likely lost forever, perhaps miners that lost their private keys or whatever, or forgot about their bitcoin wallet from the early days, which will skew the calculations and make the effective total less than 21 million. Also, as others have noted, you are likely to see inequality with bitcoin wealth, just like regular assets and currencies.
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
Theoretically right, but once you have bitcoin becoming mainstream currency, there will be different forks/alt coins that are also equally good and digital currency will be widespread instead of just bitcoin. Just a guess..
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
> So if bitcoin will one day become "THE" currency... That's the big question isn't it? Will bitcoin take over, or will another digital cryptocurrency conjured out of the ether take over? (bitcoin 2.0) > So there is 0.003 bitcoin per person. There's some bitcoin amounts that are likely lost forever, perhaps miners that lost their private keys or whatever, or forgot about their bitcoin wallet from the early days, whic…
Earlier quoted context omitted.
It's incorrect since Bitcoin usage is still high. https://blockchain.info/charts/n-unique-addresses does not look bearish to me
It was a short term prediction though. If you press play on the right side of the graph, it will update up to present.
There are max 21 million bitcoins. There are 7 billion people. So there is 0.003 bitcoin per person. So if bitcoin will one day become "THE" currency, isn't it more than logical that 1BTC will become worth more than a million dollars or something like that (not that dollars would still exist at that time, but, 1BTC would be worth as much as an average group of 333 people owns)? Or am I misunderstanding something abou…
> So if bitcoin will one day become "THE" currency... That's the big question isn't it? Will bitcoin take over, or will another digital cryptocurrency conjured out of the ether take over? (bitcoin 2.0) > So there is 0.003 bitcoin per person. There's some bitcoin amounts that are likely lost forever, perhaps miners that lost their private keys or whatever, or forgot about their bitcoin wallet from the early days, whic…