Future value of bitcoin?
 

What will happen and why?

Will it recover to its top value in December 2017?
Will it balance it self on a lover value?
Or will it drop to zero as some people (primary representatives of banks economist and so on) suggest it sould?

I read somewhere that the "value" of all bitcoin (this whas a year ago) is like 1/8 of Italy's BMP. Hence its a tiny proportion of the world's economy meaning that very little input from other currencies can make i skyrock. If just a fraction of Europe's population decides to get a small amount bitcoin that demand on its own is enough do drive the prices up. What would happen by the way if all of a sudden people around europe would decide to by bitcois coresondning to the value of al the bitcoins value at any given point in time? Would its value dubble?

Any way it seems as if more and more people gain interest in bitcoin hence an increase in demand. It seams to me that all of this indicates that it will keep rising. And as more and more people have bitcoin businesses sees the opportunity to make money and in a way it gains an actual value. That might be based on speculation but jet it becoms usfull.

At the same time some claim that its just a matter of time before bitcoin will have no value at all and I just don't see that happening. Its a wonder that bitcoin ever got momentum but now once its up there I can't see why it would lose its value. There's way to many people out there that owns bitcoin and will be willing by by a any given point.

There's already a longstanding thread on bitcoim. Why create another one?

What's wrong with specifying what its about in a new thread?I whant to discus one aspect of bitcoin.

Bitcoin – and all of its brethren – is a 21st Century version of "Tulip Mania." It's exactly the same swindle. Last time, it was a beautiful flower. This time, it was a hard-to-compute number.

The perpetrators had deep pockets and big plans. They got "analysts" from around the planet to say that it was a "sure thing." As I mentioned in the other thread, they put "Bitcoin ATMs" in gas-station convenience stores. But now, obviously, the usual thing is happening: the perps realize that law-enforcement isn't buying it, and some of the perps are trying to cash-out while leaving other perps holding the bag along with the suckered investors.

No one will have confidence in the "value" of the tokens anymore, but at this point in the con game they no longer care.

In the eyes of the law, all such things are not "legal tender." (They may have broken the law by calling it, "...coin.") They are barter tokens. And, barter tokens are worth exactly what someone else thinks they are. They are not: legal tender for all debts, public and private.

The "perps" intended to sell lots of these tokens for cash, e.g. using their "ATMs," and they wanted to spread this "next big thing" all over the international press. They had a lot of LEGAL TENDER to spend and they expected to make lots more LEGAL TENDER by preying once again on human ignorance and greed.

I hope you didn't get fleeced. And, I hope that the masterminds are found – wherever they may be hiding now – and severely prosecuted in whatever country they are now in.

That's a bit harsh how are the perpetrators? One of the guys behind piratbay consider it a democratic revolution a way to get around the big banks with "deep pockets and big plans" in a way bitcoin has redistributed huge capital to common people. Or any way that's how I have seen it

And who has bin promoting bitcoin? Al I see is criticks. I have no Ideer how it got so mutch atention in media and so on is it all a conspiracy?

Any way is it all over now once the perpetrators "deep pockets and big plans" (I'm not being ironic when I quote you I just want to stick to the same concepts) have collected? And now the losers the same people, that has driven it up, are left clinging on to bitcoin? Taking the blow?

I don't think it will ever go away I have bin thinking about this and it's at its foundation a way for criminals to do bisnis an launder money. these people don't care about the value of one bitcoin if it go down you get more bitcoin for your dollars and the drugs or whatever cost more bitcoin. How ever bitcoins can't just circulate among criminals that would make it useless. It need to be a link to the real economy and it's getting easier and easier to get dollars for bitcoins for these people.

On top of this fundament comes speculation that will keep driving the price up and also there are decent people that realize how convenient it is as a payment method. Its also a growing paying method and it makes up such a tiny fraction of the economy that at least in thery its value sould have the potential to explode if it gains enough interest.

so I just don't understand why some people think it's value is going down to nothing. Bitcoin just cant be neglected even by the banks that hates it.

Click "Edit" on the top post. Then "Go Advanced". Then fill in the "Title" field.

Thanks

I've said a lot in the other thread, but here, suffice it to say that I follow it's progress with great interest. Bitcoin may thrive or disappear but the technology behind it, blockchain currency, is not likely to disappear anytime soon, IMHO.

Some very bright pepole come up with some thing I consider an amzing tecknogly for the people not the banks!

When it becomes possible to produce the tokens quickly, say with about the same computational effort needed to produce a TLS certificate, then this technology will be revolutionary to banking, to authentication, to "smart cards" and "gift cards," and to many other important pursuits. But we're not there yet.

Right now, we're very dependent on real-time validation, "central authorities," and therefore, millisecond timing issues. Millions of dollars are lost to theft, or to electronic mistakes. These concepts, once perfected and made into a practical implementation, will become very important in solving some of those problems.

But, right now, they are being used in a classical old-fashioned swindle. The token isn't a tulip, but it's the same con-game. And we really shouldn't be surprised to see it happening yet again. What's surprising to me is the scope and the extent of it – right down to that "bitcoin ATM" in a gas station.

This seems germane: A company is building a bitcoin mining center funded in part by a grant the from city of Virginia Beach, Va., USA.

https://pilotonline.com/business/art...a4a41b940.html

Words fail me.

Wow its insane! And also there is new fund where bankers deals with cryptocurrencies for you!

I just checked twitter where people say it's a "discount" on bitcoin now encuraging every one to by and claiming to do the same! But objusly there not doing it!

I have mony at Kraken (in dollar/Euro) Im starting to wounder if sould transfere them to my bank account as fast as possible before Kraken go bankrupt... :)

Bankers in the United States know that they can gamble quite freely, since the Glass-Steagall Act has been repealed.

"Banks" are now part of much-larger financial hydras – as Glass-Steagall explicitly forbade – and they are once again doing what Glass-Steagall was enacted to prevent. They can gamble, and, when inevitably the "collapse" happens, they simply shove the losses into their (FDIC-insured) banking arm and rely on Uncle Sugar to bail them out. This, of course, instantly removes any consequence of their gambling, as they freely transfer the Federal funds elsewhere in their hydra. (In fact, it openly encourages it, as the authors of Dodd-Frank obviously intended.)

One prominent banker publicly stated that he thought that it was a fraud, and he was immediately castigated for it and he officially retracted his statement. His bank then has jumped headlong into the fray. Knowing perfectly well, of course, that he was correct.

The Virginia Beach City Council is putty in the hands of anyone in a suit and with the word "developer" in his or her title.

Not that I have strong opinions on the matter.

I find that quite interesting. Thank you.

In the other bitcoin thread I mentioned that individual mining is no longer a profitable venture. This is because as the value rises so does the cost of "maintaining ledgers". At Bitcoin's beginning anyone with a half-decetn graphics card could employ the parallel computing power of the GPU to do effective mining. Those who did this are quite rich now, but the price of poker has risen with the value of the currency. Now it takes massive parallel computing power that one can buy an individual specialized module to do the work for about $2100 USD. However the amount of electricity they consume 24/7/365 is so massive that huge amounts of heat are generated, so much so that the last remaining individuals doing serious mining are college students who do so because their electricity is paid for by the Universities. They can esacpe detection as billing is computed by building, not individual floors or dorm rooms. However they can be detected by heat signature so rather ingenious methods to dissipate the heat must be employed to escape detection and shutdown.

It seems this company in the Va Pilot article above has managed to gain some tax hedge as well as startup costs sharing/reduction and it is likely Va Bch will benefit considerably. I think it was a wise move. Va Bch is a particularly computer savvy community, probably because of the huge military presence there. All I know for certain is that while I lived near there, it had the largest per capita ratio I'd ever witnessed for computer stores and User Groups. Many of the store owners and members of UGs were military or ex military. I credit living there as a major reason why I began using first OS/2 and then Linux in 1992 and 1995 respectively. Computers and coders are simply everywhere around the area. There are a few computing hot spots around the US but Va Bch is certainly one of them. I suspect this is one reason the City Council was receptive to crypto-currency.

There are currently something like 50 brands of crypto-currency in existence. Whether you view it as The Second Coming or a Scam of the Century it is not going gently into that sweet night. It's going to be around for awhile and there will indeed be both winners and losers before the final shakeout in which it either disappears or becomes a new standard.

I find this topic very interesting for me.
Thank you very much for this.
:)

Notice the "USD." Someone sold a machine to a sucker for Legal Tender, not Bitcoin. In a fruitless effort to "get rich quick," he'll never pay back his electric bill. But the man who sold him the machine – for Dollars – made a tidy hunk of change.

The "Big Four," of US Transcontinental Railroad fame, got their start running hardware stores, where they sold picks, shovels, wagons, and photographs to miners who were surely going to "get rich quick." The gold was not "in them thar hills," but rather in the pockets of the people who were determined to go there, and you "mined" it as they were passing through town. Liquor salesmen did pretty good, too. As did card-sharps and wh:eek:es.

As soon as someone develops a block-chaining algorithm that doesn't require massive computing power – as soon as they get it down to no more than the cost of generating a TLS certificate (because we're gonna need billions of the things, every day), then we'll be off-and-running. The tokens will no longer be "rare," but "commonplace." And yet, that's what we need for currency to be. "Dollars," "Rubles," and so-forth these days are not necessarily paper or metal. They can be abstract. But they are "Legal Tender,™" and they must never be in short supply. These tokens will become a far more secure way to represent these existing legal-tender currency units in an electronic world. And, that will be huge.

Wasn't the whole idea of "mining" to make it more and more difficult to make bitcoin as the number in circulation grew greater, so as to prevent the kind of hyperinflation that governments have allowed for some official currencies (for example the Weimar republic Reichsmark)?

That wouldn't be possible if the tokens were as easy to manufacture as tls certs.

One of the major advantages of crypto-currency is speed. It is one of the main reasons that Enterprise is very interested in that global transfers can be very quick relative to the banking systems we now have. It may be possible to have many varieties which would not present the sort of transfer rate caused slowdowns that legal tender suffers from as things are now. As long as there is good accounting (and with so much at stake, why would there not be?) eliminating 3rd parties and lending itself to computing can be one of the reasons crypto-currency may succeed in establishing some manner of new standard.

Just as POTS, POST, newspapers, magazines,etc have all undergone a sea change or ceased to exist, how long can it be before other items and processes of days gone by, such as currency, step up to The Information Paradigm wrought by computing power?

I can see applications for the technology as a sort of token that might represent or authenticate, say, an invoice, offering a practical alternative to the present clearing-house services which necessarily rely today on "central authorities." The self-verifying characteristic of these tokens is very attractive. The crippling problem right now is that they are far, far too expensive to compute.

But, currency they will never be. We really don't need a replacement for "currency." Currency is available in unlimited quantity and it is completely fungible. Yes, issuing countries can abuse it and some – most notably the United States – do so. (I think that the days of the "petro-Dollar" are numbered. Both Russia and China have tested bourses of their own, successfully.)

If individuals could issue their own currency of any form (digital or otherwise), human greed would very quickly take over. Flagrant abuses would fairly-instantly become rampant.

Listen to two lawyers from the Abovethelaw website discuss bitcoins with their guest:

https://abovethelaw.com/2018/01/cryp...he-crossroads/

Here's a bit from the post prefacing the podcast:

One of the biggest misconceptions put forth by the Bitcoin people is that money derives value from scarcity. It doesn't. The most important characteristics of Legal Tender currency are:

• Endless Availability: You must never find yourself unable to denominate a transaction because the currency-unit doesn't exist. (By the way, that's the death-sentence for crypto-currencies while they remain so un-computable.) You can't have all the money that you want to, but an issuing government can.
• Fungibility: If you want to, you can take an electronic balance in your bank's computer and turn it into US Dollar bills or coins, or Rubles, or Francs, or ...
• Universal Acceptance: In the issuing country, the country's currency must be accepted in payment of "all debts, public and private." It is thereafter exchangeable with other Legal Tender throughout the world at agreed-upon exchange rates.

The biggest problem that arises is when any country "generates money out of its a*s right out of thin air" and then uses that money to buy things for itself ... as the USA recently did to the tune of about $3 Trillion Dollars "just to pay next year's bills." Businessmen in other countries can be hurt by this, especially if their currency is "tied to" another one, especially the Dollar. This is why I think we'll see the Chinese and the Russian energy-bourses become very successful. Right now, China, as the world's biggest consumer of energy, has to buy that energy using "US petro-Dollars" as an intermediate step. It costs them a lot. I think that the days of the US Dollar being "pegged," or "being the peg," are numbered – as they should be. Thanks to computers, we have many, many more ways to rapidly denominate transactions and to handle exchanges.

(And when these tokens do become easily computable, they will revolutionize those systems and probably a great many other things. Some people say, for example, that they might allow crypto-certificates that don't have to rely on a "chain of trust.")

People seem to think that "way out West," people actually came into bars with little bags of gold dust. In fact, in most of the mining camps, the money that was being used was scrip. Bankers in the catacombs of New York City used to push carts containing gold bricks from one room to the other, until they finally stopped doing that. (But it still makes a good picture, such as the recent photo-op with Vladimir Putin hoisting a shiny, heavy brick.)

Aldogh that wasn't you're only point. when banks replicat the blockchain technology the underlying idea of bitcoin get lost because as soon as banks are incharge you have trust them not only the matt. And they will charge you for it as well. There is kind of an anarchistic thing about bitcoin that's seams provocative to some contiensus people. Same with piratebay people where just devastated considering it a sign of moral decay. But then It gave us spotify just as bitcoin will force banks in directions that favor consumers.

And what is the conspiracy behind bitcoin? As far i know it started out as project among nerds that got momentum and started to attract business putting up ATMs, banks investing for customers, investors going in to mining in large scale, online stores accepting bitcoin as payment and so on. Not the other way around with big businesses taking the lead.


Future of bitcoin as a currency that can compete with dollar and its value are not really the same thing. First of all its true that it just can't exist without conventional curenses so a world of only cryptocurrencies like bitcoin is impossible.

But that just don't imply that bitcoin doesn't have a future as a payment method or that it won't increase in value.

To start with it's fakt that only a tiny portion of the world's population owns bitcoin at this point and if just a few of the people that dosent do now invested it would skyrock disregardless of its uslesnes (that's a fact). But in fact it's not even useless businesses are forced to accept it and it's extremely convenient for consumers. The only thing that is keeping it from becoming something people would consider using as a currency with conventional currents as its backbone is its extreme fluctuations. Now that's something that is as far as I see it bitcoins primary obstacle.

And as far as its value is conserned agin it is only based on the number of people willing to invest and hence logicly its value just can't be overrated like traditional currencies. And as we know there not making many new bitcoins.

And I see no reason why byers would decline in number. On the contrary more and more people gain interest and the actual investors hangaround in the background waiting to the upswings. Its also the gate way to all other cryptocurrencies hence its logical to presume that bitcoin will increase in value. Even if it might seam bisar.

They try to kontrole bitcoin but that hasn't worked with any per2per technology ever since napster .One way is to shut its down is to attack the bitcoinminders and thats whats going on in china right now. All they have to do is to shutdown the power :).

Any way it's down at 11 000 right now anyone dare to guess where it will be in 3 month? youre forcast will be noted for ever :).

During the last 6 weeks it has rushed to 20 000 and back to 11 000 where it was 5 of december. the question is where all the former inverters is going in again or if must have lost interest and put their money elsewhere and that would lead to a steady decline.

What?

i knew it!
the "mum's basement syndrome".

They are not forced to do so but its business in it as pepel own bitcoin. You even get discont in some stors for using it! So it might be god geting some just to shop.

Agree.

Recommended blog article: http://www.mrmoneymustache.com/2018/...oin-is-stupid/

Wow! Thanks for making me aware of this blog. He's not only a crypto/security expert but also an uncommonly-good writer.

Another writer observed ... "are these 'zillion-dollar valuations' coming from actual trades, or are they simply (more likely) a hype-story based on what one person says they would be willing to spend if they were so inclined?"

Somehow, I don't believe that "more money than actually exists on this planet" is right now actually being traded in a singular mad dash for a tulip a hard-to-compute digital number. Instead, I see speculators who are hoping that some people will be gullible enough to believe any graph that they see. It certainly has been done before.

A quintessential book on this subject Extraordinary Popular Delusions and the Madness of Crowds, was first published in 1841 by Charles Mackay. It's so well-known that it has its own Wikipedia page. (By the way, the above hyperlink goes there, not to Amazon.) The age of this book – and the fact that it is still in print and an on-and off-again best seller – speaks to the universality of the human motivations (and gullibility) that it describes.

no ider why he cales investors "foles" bitcoin has bin the best thing you could invest in during the last 2 year or so. besides in order to see the potential you would have to think diferently and probobly be very bright. In fakt now any one would in retrospekt have put in every thing they owned in bitcoin two year ago.

right now you might be a fool to invest but no one knows for sure. right now I think pepele that have bin sitting on bitcoin for a long time are now selling there invstments distributing them among newcomers.

the new crowds is made up by the "regular person" that are aways slow. perhaps thay will be the losers or the real winners no one knows for sure. what is evident is that more people are involved in bitcoin now then ever.

xxx

I just heard in the Noon Business Hour on the radio (WBBM Chicago) that some people trying to sell their bitcoins aren't able to find a buyer. "If you want an extremely volatile, highly illiquid investment, be my guest."

Paul Krugman in a recent column argues that bitcoin is essentially a Ponzi scheme.

https://www.seattletimes.com/opinion...-ponzi-scheme/

He's almost ten years late for that observation though - most of the more serious economists were first. :)

Do a web search for "Paul Krugman bitcoin." You will find that he has written about bitcoin often; this is just his latest.

A better analogy, I think, is "digital tulips."

Tulip Mania was a classic example of this kind of crowd psychology, this time centered around unusual tulips. (No one knew at the time that it was caused by an infection.) It was heavily featured in Extraordinary Popular Delusions and the Madness of Crowds, a book that has been in print for well over a hundred years now. (There's a reason for that ...)

The block-chaining algorithm that was used to develop Bitcoin was purposely engineered to create the notion of rarity, which many people erroneously think is a necessary feature of currency. (In fact, currency is required in limitless supply, so that every transaction that is requested can be denominated.)

Good ol' crowd psychology then took over, and the perpetrators had deep pockets. They made bitcoin "appear from nowhere" all around the world, all at once, and to be featured by "investment advisors" and bankers. (Such that one banker was severely castigated by his greedy fellows for pointing out that the Emperor had no clothes.) They obviously didn't care which nation(s) they swindled. Unfortunately, plenty of people immediately understood that it was a swindle and spoke out against it quite openly. And, people listened.

The swindle is running its course a little bit faster than I had anticipated. Somebody got cold feet.

One of the big banks (I think HSBC) has prohibited its customers from buying bitcoin with their credit cards. Legally they have a perfect right to do this since credit cards spend the bank's money, not yours. Ostensibly they have taken this step to protect their customers from scams, but I suspect the real reason is that they don't want customers racking up huge debts and then going bankrupt.

More likely, they don't want their credit cards being used to fund a criminal enterprise.

They wont be able to stop bitcoin that way by limiting buying options. If it would be illegal to accept it as payment that might work. But Im not sure is possible. any way all legal action will probably make bitcoin even better for criminal activities. A per2per network for trading that is running trough tor is coming up apparently. So its days as a currency for criminal activities is not over for sure.


Its way down now any way. I wounder if its ever going to be investible again. And whay about Kraken (one of the marketplaces) sould I wory abut my dollars that I have there?

An pleas chek out the link from 2017! I wounder what his up to this days its almost as if he has vanished. However he do display extreme credibility in the interview I think he actually believes what his saying..

20 of November 2017:

https://www.youtube.com/watch?v=l6Obc_cJba4&t=893s

I just reinvested at 8 of February, an other investment at 16 planing an an other one i a few of days if all goes well. My principle is to accept decline of 30% on the third investment 20 on the second 10 on the first one. then adding 10% acceptance for decline for every new investment that goes well.

10 20 30
10 20 30 40
10 20 30 40 50

This makes me more and more resistance to fluctuations.

I will keep doing this every 5 day or so investing same amount every time until I empty my bank account. That wont happen obviously no ideer how many investment will be able to do given the principle noted. However there is a steady increasing going on right now not as extreme as in December and that is promising.

It is important to check the value every 6 hour or so because it can potentially drop 50% more in a day how ever right now its a steady increasing value make that less likely.

All tough Im in this for the short run Im confident that one bitcoin or some other cryptocurrency can be worth millions in future (Pleas dont get any based on this tough!) so im definitely keeping a few.

"Hello, troll!"

The very best so-far article that I have read on this (literally ...) "more than 100 year old subject" is this one: (and pardon me for repeating myself ...)

Why Bitcoin Is Stupid

(The post then proceeds for quite a few more pages to meticulously analyze the entire phenomenon, both from a social/human perspective and from that of a software-geek whose career emphasized cryptography and authentication.)

Caveat Emptor.™

. . .

Thanks alot for your input I rarely see that point of view and you pretty much serve it to me. Some of you're comparisons, or that you are referring to, are way of tough I can elaborate on that if you like.

And is "bitcoin stupid".. Well to stat with the person/persons how came up with it is a borderline genius that will be mention in the history books (perhaps only as a pseudonym).

And the impact of bitcoin is not stupid ether on the contrary it will push the slow conservative banks in a direction that will benefit every one.

Any thirdly I will keep updating right now its hard to tell if an an other opportunity to make alot of many on bitcoin lies a head or not. That is really what is an issue in this thread.

The reason why I made this thread is becous there are alot of bright people here that are not to biased. However I do realize that the overall concept of bitcoin is very disturbing to some contentious people an observation I make over and over again that is very interesting in its own right.

"The concept of bitcoin" is two-fold.

On the one hand, "block-chain tokens" are a very exciting development that promises to be revolutionary ... as soon as we find a way to calculate billions of 'em every day. They will make a dramatic improvement in all kinds of electronic-settlement processes as soon as it no longer takes the combined electrical output of Niagara Falls to calculate one of them.

But on the other hand, "the bitcoin scam is old as the hills." Charles Mackay wrote Extraordinary Popular Delusions and The Madness of Crowds in 1841 and it has been in-print in every major language ever since ... with very good reason. It's a 21st Century manifestation of the same scam, obviously perpetrated by people who intend it to be an international swindle. (Organized Crime is also obviously in on it ... a South Korean official who's been outspoken against it was recently found murdered.)

Bitcoin preys upon the notion that "money," in order to be valuable, must be "rare." But the opposite is true: trillions of Legal Tender™ currency units change hands each and every day, and by-definition we must never run short. If you're entitled to have one, it exists.

Bitcoin is legally defined as a barter token, and plenty of barter transactions also take place each day: if a group of parties wish to agree to accept a token, they're free to do so. Certain forms of international trade form "closed ecosystems" in which the use of barter saves money that would otherwise be lost in to-them-pointless currency exchanges. (But Bitcoin knowingly breaks those laws by calling itself a coin. Your barter tokens are not Legal Tender Currency, and must not in any way resemble Legal Tender Currency.) Even as a barter token, bitcoin is unworkable because of the supply problem: there is inadequate liquidity.

The substance of the scam is hundreds of years old: "this thing is preposterously valuable (because I said so ...)," and "just look at how many other people are becoming gadzillionaires!" The perpetrators move the pump-handle up and down, loudly professing to all who will hear that they are thereby generating insane amounts of "value," then suddenly walk away. The "dot-bomb bubble" was more or less an identical scam. (But I seized the IPO-day opportunity to make a very profitable long-term investment in RHAT, a company whose product I of course knew very well and whose business strategy I agreed with.) The come-on is still hard for human beings to resist, but the right thing to do is quite simple: "just don't fall for it."

"If it sounds too good to be true – it is."

Yes I will read that. Noting: Put in an other load of mony right now (that is my third purchase) at the price of 1167 USD. Some worrying tendencies lately tough almost waited but lets see.It has be a very god week.

Its hard to tell how long it will go on but in my opinion people are moving assets from other cryptocurrencies to bitcoin right now as there are down going trend in some of the cryptocurrencies that corresponds to the increase in bitcoin also the same cryptocurrencies increased as bitcoin crashed in November. But some of that crash was also due to, or rather triggered by, chines people getting there accedes for the new year it seams to be a consistent pattern showing up every year.

If you're willing to spend more than a thousand dollars for a number, I can offer you a really great deal on the number "5" ...

Just soled every thing at 11 000 USD

Congratulations: you found a "greater fool."

But – that's not investing, and that's not currency – that's just gambling. "Russian Roulette." A speculative bubble is in progress and you don't know when it will end, but it will end abruptly and at a chosen time ... a time not chosen by you. The music suddenly stops and you realize that you're not one of the ones sitting in a musical chair. You wait for the music to start again. It never does.

Long ago, it was tulips. At the turn of the 21st Century it was "dot-bomb" stock certificates. Later, it was housing. (Several former-pastures near me are filled with cookie-cutter houses that never sold, and some of these are being dismantled to turn the land back into a pasture again.) The object of speculation varies but the fundamental swindle does not. The fact that "you made ten times the money" – or say that you did (but who's to know?) :tisk: – means nothing. Zero. Zilch. Zippo. Nada.

When I daily read stories about "unbelievable" amounts of money that are supposedly connected to crypto-currencies, that's exactly what I think – unbelievable, as in, "false." Incredible, as in, "not credible."

if I were clever and found a market full of fooles I would go there at once to make a profit on those fooles, others that was even smarter or less foolish would do likewise and eventually there would only be a bunch of smart people left. Thats evolutions natural selection for you. Even so trading might not attract the most impressive specimens of the human race :).

when I moved from home a couple of years ago I used to make money on trading out of necessity to pay my rent and I can tell that its way easier to make money on cryptocurrencies because there are fewer variables to consider (its simply not valid that its all down to chance). I have no interest what so every in trading actually its extremely boring in my opinion. Jet I can make a 20% profit or so on cryptocurrencies when ever I see the opportunity. I be happy to note my future investments in bitcoin and other cryptocurrencies as well.

I like to hear more about the grate conspiracy behind bitcoin? What secret viscus association :) controls bitcoin an by what means do they mange to do it? In a way bitcoin is creation of the imagination that came to life because of our curiosity and now it cant be forgotten about and hence will never disappear.

And also there are not a lot of money tied up in cryptocurrency not jet as you say. In fact the value of all the bitcoin in the world make up about 1/4 of Italy's BNP. That is one of the reasons why the potential is so grate just imagine what the impact would be if a fraction of Africans population started getting bitcoin at any given point.

Also In some places bitcoin can be a better option than the local money due to risk of bank crashes corruptions and fluctuations in the local currency. And all banks are more or less opportunistic institutions even in the develop world and we do have bank crashes a head of us so I would turn my back at them at any time. One interesting development is that people in Argentina has actually started using bitcoin due to the extreme fluctuation in there own currency. Nigeria is an other interesting country in that regard.

In my opinion the distribution of smartphones in poor country's will be a revolution for for bitcoin but also other cryptocurrencys its just logic that people would use it if they had the opportunity as bitcoin are way more attractive than the local money for a number of reasons. Unfortunately old Nokia phones are still widely distributed in poor country's but they will be replaced by inexpensive smartphones in the near future and that will add momentum to bitcoin for sure. And if huge amounts of bitcoin was used every day for buying necessities that would obviously add stability and less fluctuation.