Will bitcoin hold its value as an asset used for preservation of wealth even if another alt-coin becomes the main coin used in real world transactions?
Bitcoin has a low 20 million coin cap, which should mean that it will increase in value over time as scarcity increases. However, Bitcoins transaction speeds are much slower than other coins such as Ethereum or Cardano, which makes it less attractive for real world exchanging of goods and services. Do you think in a scenario where, for example, Ethereum became the choice crypto accepted as payment, Bitcoin could still function as a store of wealth like gold? What do you see as Bitcoins main use in the Future?
Hi, would like to buy a Ledger S. I have read some reviews on Amazon saying they are disappointed as it only holds 3 coins. Can I ask what does this mean? It only holds 3 different TYPES of coins at once? Or it means for example, you can only hold a total value of 3 bitcoins?
Will buy a hardware wallet very soon so the faster you can respond the better. Thanks!
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DeFi for Bitcoin on RSK is expanding. Find out more IOVLabs CEO Diego G. Zaldivar on the current state of Bitcoin DeFi, and how RSK and RIF are creating a complete financial system that holds true to the same values of openness and neutrality as Bitcoin
Everyone (particularly BTC fans) should read and reread this until they understand what problem Bitcoin was created to solve, and how it solved the problem. Even if you don't understand the technical details, every token owner should understand the basic value proposition of the token they hold.
This was spurred by a recent conversation with a BTC maximalist who obviously hasn't read the white paper and wasn't even aware it contained a description of the "problem statement" that Bitcoin was intended to solve. I encourage someone who still has posting privileges in rbitcoin to post the following text there along with the emphasis so that it can reach more BTC holders. emphasis mine
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.
We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership. The problem of course is the payee can't verify that one of the owners did not double-spend the coin. A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. After each transaction, the coin must be returned to the mint to issue a new coin, and only coins issued directly from the mint are trusted not to be double-spent. The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank. We need a way for the payee to know that the previous owners did not sign any earlier transactions. For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions. In the mint based model, the mint was aware of all transactions and decided which arrived first. To accomplish this without a trusted party, transactions must be publicly announced , and we need a system for participants to agree on a single history of the order in which they were received. The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received. http://bitcoin.com/bitcoin.pdf
Bitcoin literally has less uses than runescape gold, and doesn’t hold its value as well.
The whole concept of a decentralized currency goes against the reason currencies even have value-because they’re centralized and widely traded. U could literally buy up runescape gold or rare items and they would hold their value better, because then they would actually be traded and have value beyond libertarians that hoard it and think it’s going to make them rich. It’s just completely ridiculous.
06-20 06:24 - 'This video lead to me to start holding. Lead to me looking into this space and realizing that all price predictions are conservative when you realize 500 trillion in value is opening up to Bitcoin via institu...' (youtube.com) by /u/FinanceOwn removed from /r/Bitcoin within 606-616min
06-16 01:54 - 'I mean ZIL went up 10 times its value and is still holding there. Anyone who had $1000 in it just made $9000. Sure it could be a scam but plenty of people just got rich off it' by /u/Wit2020 removed from /r/Bitcoin within 449-459min
We have realized that encyclopedias will soon be the most valued collectible. We've sold off our bitcoins, and have visited every used book sale we can to ensure a financially stable future for our son. This room holds everything we have saved for his college admissions!
“There are people here who truly seem to want to see the world economy collapse, just to prove that their small bitcoin [core] holdings will be worth more than fiat. A perfect world would be where both can exist and have value.”
If you are bummed about the current bitcoin price fall just look at these bitcoin transactions, which hold the spot for the top transactions ever made on the blockchain, the value of each transaction only increasing over time....
My bitcoin wallet gets “hacked” and I declare bankruptcy while holding value in a more anonymous wallet. What’s stopping this?
Say you have crypto assets that are being held at a loss, or otherwise. You let your account get “hacked”, while you actually transfer the amount to say, Monero. Then you would declare bankruptcy, convert the Monero to cash, etc. There has to be something stopping this, right?
Vinny Lingham:"If things get tougher this month and Bitcoin can’t hold the Feb 6 bottom, there is a chance that ETH will rally instead and permanently decouple from BTC, along with other alts. If BTC can’t store value, then the market will probably find another way...".
Litecoin has lightning and cheapest fees. Once that fact is realized that it has the same security as bitcoin and cheapest fees, I️ don’t see logically how to hold bitcoin if litecoin can act as a store of value and currency. Shit....$60 is a bargain.
Bitcoin’s exchange rate is, like every other asset, affected by supply and demand. If more people want to buy and hold Bitcoin, its value rises. If people are selling off their holdings, the price drops. At any time, the value of one Bitcoin is exactly what other people are willing to pay for it. But just because bitcoin may or may not hold long-term utility value doesn’t mean investors are safe buying bitcoin at its current price. Aberdeen Asset Management venture capitalist Peter ... Bitcoin Has Held Up Well During The Current Crisis. Analyst Willy Woo has posted a chart comparing the performance of the S&P 500, gold, and Bitcoin over the past five years.Whereas BTC’s remarkable rise in value during this time is well-known, this comparison reveals that the cryptocurrency’s recent drop in value is vastly less significant during this time frame. In order to purchase the physical coin, you may need to pay a slight premium over the value of the Bitcoin that you're buying, owing to the cost of the manufacture and shipment of the coin itself ... Bitcoin futures, which operate in a similar way as stocks or commodities futures, enable investors to hold Bitcoin contracts without acquiring the actual underlying cryptocurrency – BTC. Bitcoin futures prices often differ slightly from the actual market price of BTC, or the “spot price” of the asset. Their market value above spot price indicates bullishness of Bitcoin, while below spot ...
Buy and Hold is the Easiest Long Term Investment Strategy for Bitcoin
bitcoin price analysis 5% price drop last 5 days. Note: no voice - only straight point Note: this channel is for educational and opinion purposes only and is not financial advice only for ... Bitcoin is setting up for short term consolidation as charts suggest that btc price may be due for a -20%+ dip. #Bitcoin #btc Cycles of Bitcoin - https://www... Buy and hold is the easiest long term investment strategy for Bitcoin The “buy and hold” strategy means that we take a portion of our savings, say up to 50%, and buy Bitcoin on a regular basis ... In this video, we are taking a look at the price of Bitcoin and CRO. What does Token Metrics predicts for the future? Also, we take a look at the stock marke... Buy and Hold until 2020! 08:30 Gold and Holders! 10:35 Is Bitcoin manipulated and who spreads ‘Doom Porn’? 13:35 Bitcoin ETF is it happening? 16:15 Bitcoin is like the internet in 1995, still ...