Where will Bitcoin be on 9/4/2018?
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9 members have voted
December 23rd, 2017 at 12:17:26 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
I can see a phone app that allows you to easily make payments among the northern European currencies (British pound, Icelandic - Norwegian - Swedish - Danish crowns). The values would still fluctuate against one another for the time being. But you could instantly pay for anything electronically in the five countries without large fees, and express the payment amount in any or all currencies. |
December 23rd, 2017 at 12:44:48 PM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18202 |
This is only good as long as the country keeps it sound. Country currency failure is the norm, not stability.
One-currency I doubt would ever be feasible. Greece cannot even handle the Euro now. I agree it is people gambling on it now. But that does not mean this will always be the case. Bitcoin may be the digital gold that other cryptos get based on.
This will all improve. Energy wasted to me is no worse than the energy wasted on pennies. The President is a fink. |
December 23rd, 2017 at 1:19:49 PM permalink | |
Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week. It costs 1.5 cents (WSJ link) to make a penny. Knowledge is Good -- Emil Faber |
December 23rd, 2017 at 4:24:33 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
When this article was written on Nov 2 the rate was 8.5 Tera hashes per second.The peak rate has reached 17 Tera hashes per second by 17 December. https://blockchain.info/charts/hash-rate
It will not improve. It is an energy Ponzi scheme. |
December 23rd, 2017 at 5:13:29 PM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18202 |
It will improve when they increase the block size. The President is a fink. |
December 23rd, 2017 at 6:12:35 PM permalink | |
Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 | What makes you say it’s value is around $1000 Wizard? As far as I can tell no one truly knows how to value these things. Which in turns makes it impossible to say whether it is a bubble or not. |
December 23rd, 2017 at 6:38:35 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
It is difficult to define what money actually is. Put simply, one can say that it is an agreement or convention between individuals in a country or region that “something” will function as money. |
December 23rd, 2017 at 7:50:18 PM permalink | |
Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
I admit the figure is arbitrary but $100 seems too low and $10,000 too high and I was trying to stick to rounds numbers and looking at the natural rate of growth when not in a gambling hysteria period like now. Knowledge is Good -- Emil Faber |
December 23rd, 2017 at 8:38:10 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
We know there is 1BTC for every 450 people in the world, but some estimates are that only 1 person in 2500 is invested in Bitcoin. Without having any idea of the popularity of the coin, there is nothing to base an answer to the question; "What is natural growth?". |
December 24th, 2017 at 3:52:59 AM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18202 |
You have to analyze Bitcoin differently than other items. There will be at most 21 or so million of them, a certain amount already lost forever. Need to ask what percent of the population will invest in them and how much. That will drive the price. It is not like a stock where you can figure earnings then a P/E. 1 percent of the world wanting one means demand for 75 million of them, over 3 times subscribed. What would they pay? The President is a fink. |