My comments: Bitcoin is gaining acceptance more and more everyday. Cryptocurrencies are the future. There looks to be another massive move up in the price of bitcoin sometime this summer.
We shall see! :)
A new bitcoin embassy was launched in Poland's capital Warsaw on 12th May with the aim of promoting the digital currency in the country and fostering innovation.
I would not use the word encourage here, just some people will use it for this purpose But there is also many positives to BitCoin too, pro's and con's.
and money doesn't!!...hello...what planet have you been living on. Enslaved human race anybody, the planet owing itself trillions through national debts, the federal reserve, environmental destruction...need i go on?
Bitcoin was trading for $12 on 1-1-2013 and hit a high of around $1100 in December of 2013. Adoption is continuing exponentially and bitcoin could hit $5,000 in 2014.
No serious investor wants any part in Sh!tcoin, or any cryptocurrency for that matter. All the red flags are there: no intrinsic value, no government backing, limited supply (deflationary 'currency' oh my god itz heavan). I'd rather 'invest' in derivatives (hint: I would not 'invest' in derivatives). Naturally, speculators gonna speculate, but speculator is a four letter word.
Sir Richard Branson(billionaire) is a serious investor, no? He is part of a group that just invested $30 million into a bitcoin company. And your points about no governement backing , limited supply make bitcoin that more appealing.
Bitcoins have no intrinsic value (unlike some other things) This is simply not true. Each bitcoin gives the holder the ability to embed a large number of short in-transaction messages in a globally distributed and timestamped permanent data store, namely the bitcoin blockchain. There is no other similar datastore which is so widely distributed. There is a tradeoff between the exact number of messages and how quickly they can be embedded. But as of December 2013, it's fair to say that one bitcoin allows around 1000 such messages to be embedded, each within about 10 minutes of being sent, since a fee of 0.001 BTC is enough to get transactions confirmed quickly.
Maybe a tulip bulb would be a better analogy than gold - the price of gold jewellery in a ritzy shop is a reflection of its aesthetics and its higher than the market price per ounce
The value of a phone is that you can speak to someone realtime who is not in the same room as you. I like that.
I have looked at investing in bitcoin a few times, but the reason i dont is because i cant understand how it works, despite 20 years of finance experience - your posts about how it is mined and the reputed intrinsic value are perfect examples.
So good luck to branson, generally he will invest in anything that gets his mugshot in the paper - his last investment in poland was pretty disastrous.
This is the key. Technology changes very fast and what we call the internet did not exist a blink of an eye ago, just as it's naïve to think it'll be around in the same form in a generation's time. So-called 'bitcoins' have no intrinsic value.
I just installed a beast of a cooling system on my PC and was tempted to do a little mining myself, but what keeps me from trying is the fear that it may bring my computer down.
Interesting development: bitcoin protocol may need tweeking because of too much computing power (!):
One of the things i don't like about Bitcoin is the lengthy time it takes to make a transaction, its about 12 minutes i think. You wouldn't buy a cup of tea and then have to wait 12 minutes to get paid. There are much quicker cryptocurrencies out there, like Litecoin for example.
There are no cheques in Poland, or at leadt very uncommon. Its an issue of trust. The believe it if they can see it, touch it. Hence it will not take off here. Thete are easier ponzi schemes to peddle.
Cheques do exist, however it tends to be companies that use them - I used to pay staff with them if they didn't have a bank account themselves or if they needed a sub from their next salary and I was too busy to go to the cash machine.
The Polish ones used to grumble since they actual had tho go to the bank rather than have the banknotes drop into their hands.
The believe it if they can see it, touch it.
This it's true. I just don't see many people trusting crypto currency here.
@Lenka, I've bought it for $9000 last year but I'm still not selling it yet. Just pulled out my initial investment and still expecting a new all-time high this year.
Anyway, if you think you missed the bitcoin train there are other altcoins, like Ether, with substantial market cap and growth potential. Just yesterday PayPal announced that it will be using the ethereum blockchain.
My son bought in 2013/2014 for 12/1300$ and just sold it last month for 52something k $.I see its 59292k today,but he is happy making 50k outta it.Even one can buy Tesla now with it.I also bought Steem in 03/19 for 3k it has gone up 3 fold too.
Everyone's got a different tolerance for risk-taking and $50 000 is a very good profit on one coin.
Not only you can buy Tesla with Bitcoin but the company will also hold on to them and not convert them to fiat currency. This will elevate the price of bitcoin even further up.
I wanted to buy a Dodge Challenger Hellcat for my next car but now I'm also seriously considering a new Tesla S.
If anyone is tempted to buy while it's low, remember that this may well be the stage in the ponzi scheme where buying just enables smarter or less foolish investors to get out of the market and recoup some of their huge losses.
