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Old 01-17-2018, 09:15 AM   #1
Eliijah
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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.

Last edited by Eliijah; 01-17-2018 at 04:03 PM.
 
Old 01-17-2018, 09:17 AM   #2
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There's already a longstanding thread on bitcoim. Why create another one?
 
Old 01-17-2018, 09:35 AM   #3
Eliijah
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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.
 
Old 01-17-2018, 02:39 PM   #4
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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.

Last edited by sundialsvcs; 01-17-2018 at 02:44 PM.
 
Old 01-17-2018, 03:51 PM   #5
Eliijah
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Originally Posted by sundialsvcs View Post
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.

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..
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.

Last edited by Eliijah; 01-17-2018 at 04:35 PM.
 
Old 01-17-2018, 04:00 PM   #6
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Quote:
Originally Posted by Eliijah View Post
Edit: I Can't change the topic its sould be "future value of bitcoin". If a moderator can change it and erase the line it would be god.
Click "Edit" on the top post. Then "Go Advanced". Then fill in the "Title" field.
 
Old 01-17-2018, 04:03 PM   #7
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Click "Edit" on the top post. Then "Go Advanced". Then fill in the "Title" field.
Thanks
 
Old 01-18-2018, 01:48 AM   #8
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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.
 
Old 01-18-2018, 06:16 AM   #9
Eliijah
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Some very bright pepole come up with some thing I consider an amzing tecknogly for the people not the banks!
 
Old 01-18-2018, 07:44 AM   #10
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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.

Last edited by sundialsvcs; 01-18-2018 at 07:47 AM.
 
Old 01-18-2018, 12:15 PM   #11
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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.
 
Old 01-18-2018, 01:10 PM   #12
Eliijah
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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...

Last edited by Eliijah; 01-18-2018 at 01:22 PM.
 
Old 01-18-2018, 06:00 PM   #13
sundialsvcs
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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.

Last edited by sundialsvcs; 01-18-2018 at 06:02 PM.
 
Old 01-18-2018, 08:15 PM   #14
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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.

Last edited by frankbell; 01-18-2018 at 08:17 PM.
 
Old 01-19-2018, 02:49 AM   #15
enorbet
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Quote:
Originally Posted by frankbell View Post
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.
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.
 
  


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