Yeah, I suspect it will take another crypto aimed specifically at stability (I follow DGX but had not seen Maker Dai, looks interesting), to really compete with ‘currency’. I’d rather have a decent crypto option than govt fiat of course! BTC doesn’t really need to though imo, but meh, the market will reveal all eventually. Maybe I’m wrong, I’m glad that BTC can forge its own path and destiny regardless of what any individuals might think. If its fate lay in the hands of a few decision makers I’d be far less confident about its survival personally.
It’ll be fun to watch anyway. I have a bit of skin in almost everything, so I won’t feel too stressed by which way the winds blow unless a very surprising gust blows in out of nowhere and messes things up for me. I do think SAFE is the most likely to catch everyone else off-guard and disrupt a lot of disruption, so I have a lot more eggs in this basket. I am happy to be holding some BTC for quite a while too though Even if it never scales or stabilises enough to become a currency I still think it has a bright future.
"As an aside: When old-school skeptics say bitcoin is a bad currency — because it’s too volatile, they miss the entire point that Bitcoin will disrupt serially. Today Bitcoin is a terrible unit of account. That’s the point — it’s massively undervalued as a payment rail, post-currency ledger, micropayment system, etc. So it is not a classically-defined currency because it surges up too quickly. (This has got to be the first time in recorded history where people are complaining that a currency sucks because it gaps UP. Argentines and Zimbabweans should be so lucky.) For the past eight years bitcoin been an incredible vehicle to speculate/store/create wealth. One of the last things bitcoin will do is be a stable unit of account. When it does — and the skeptics announce that it can now be considered a decent currency — it will probably be trading at $500,000 /BTC."
Many central banks are experimenting with lots of different ideas for making a central bank issued cryptocurrency. For example we might at some point see some cryptocurrencies which work exactly like all the other cryptos, except that some central bank has a private key that can generate new coins at will and it’s pegged to the national currency of the issuing country.
There is definitely risk involved with 1 key opens every door; but there is alot of realistic applications that can extend from RFID, finger prints and facial recognition to be integrated which is exciting!
While I’m still new to MaidSafe, I have made good money playing the LTC->ETH->BTC timing game. Mining some ETH & ZEC but I’m as interested in this and am looking for getting in the game.
Oh god how I would like it to break any second. Please let it break.
Is it breaking yet? (I’m genuinely hoping it does. When is it??) This several month run is idiotic.
Well with all the reported new money coming into crypto and a lot through BTC I doubt a major drop is happening anytime too soon. Maybe with the “Big Business” holiday coming up next month we might see some sell offs as people pay for the good/bad/ugly presents they buy. But even that is going to be minor.
Despite I have all reasons to rejoice of the raising BTC price, I see a raising issue with usability : the volatility is such that you can’t use it right now as a payment solution for relatively small amounts. As a service / good provider, you can’t afford fast plunges,and as a consumer you are not ready to pay an amount that you know will quickly double or triple quickly. I see some reports here and there, of companies dropping bitcoin payment support for that reason. While it remains a very good investment product, it seems it is slowly loosing its original purpose as a transaction tool.
I imagine Bitcoin would be many times its current value if it were being widely used, but ridiculous fees & tiny capacity have cut it down to being where it is today… which is still pretty great!
The first crypto currency to gain mainstream adoption for actual use could show up Bitcoin big time… that is unless Bitcoin can actually figure out how to scale quickly enough to escape being superseded as the primary form of p2p digital cash.
Safecoin is the future, although, maidsafecoin is just a token, that’s right now nothing more than a promise made by a development team to deliver and exchange it to real safecoin, real safecoin isn’t out yet, its very different to maidsafecoin now, considering that fact, it’s actually doing quite well against fiat, of course it won’t beat institutional money coming into BTC, even ethers is losing the battle with BTC pretty hard now.
If you do hold BTC still though and believe in the team as well as like the project, feel free to use the money coming in from big institutions to get some maidsafe token. Now one BTC can get more maidsafe tokens than ever, basically same price or even more BTC per MAID than the ICO. So yeah, when we do get close to launching a lot of FOMO will go into it too driving prices up. Although we’re not there yet. So if you do buy, just be patient, put it in a paper wallet and forget it for 3 years.
And regarding BTC creaking, the lightning works looks promising, however there are disadvantages of using it and if we can get something scalable right off the bat, then we don’t need to worry about going out of our way trying to make Bitcoin, the first and relatively primal technology, work, and BTC isn’t back up by anything but people’s faith, safecoin(when it does come out) helps this by making it backed up by data. Which is almost like currency in the current world, most people born after 1990 including myself would be willing to accept it given the explanation that you can use it to buy data storage space.
I heard ico was 17000 per btc. So it’s lower than ico. However probably not the lowest ever reached if you go technical and want it to the satoshi. But this price level to btc is roughly the lowest level since launch of alpha. Before that it reached 2000 satoshi. Now it’s at 3000 satoshi, but this is after alpha where they already presented a working prototype
Coinmarketcap show us at about ICO price. I seem to remember it being about 3000. It has been this price one before… the it swung up to about 25000 a month or so later. Hopefully, history repeats… maidsafecoin is due a bit of a boost!
Guess I was mad at BTC for whatever reason 19 days ago, but now I don’t care, no greed/emotions involved. Probably since I’m now even more aware of this fact: All bitcoin has to do is get a sniffle/cold and sneeze (especially if it just keeps going up even from here), and various alt-holders will be millionaires.
Maybe now that it’s “hit 2000 satoshi (range)”, that That One Crazy Guy from the Other Thread said it would hit (albeit at a much lower USD/BTC rate, which just ended up peeving people off)—someone, somewhere, some whale, will commence a prevention of anything lower than where it’s at right now. Or I’m a complete bollocks. Either way, I feel like whales feel like small fry compared to the greater picture, and are at more of a loss of even WHAT TO DO with all their Many Bitcoins. Mass Chaos is about to happen…?
Even if it never scales or stabilises enough to become a currency I still think it has a bright future.