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Originally Posted by JerseyPuma
this is all VERY lazy.
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Yeah, it is. At the time being in Canada the only way I could see to buy bitcoins was through this canadian exchange which required me to send them scans of my id, wire the money from a bank, etc. if i could of just done it online instantly I would of but it wasn't possible them (this was 2013) and i'm not sure if its even possible now. if you want the average person buying coins (which you would need to achieve the kind of numbers tango was talking about), it has to be streamlined and simply with no waiting, no sending documents, etc otherwise people just won't bother.
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it is both a digital currency, which can be currently spent for goods and services at thousands of merchants, both online and brick & mortar. it is also a store of value, like digital gold. it can be used for cross-border settlement at fees a fraction of what it costs to settle with traditional banking. it has value because people value it.
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i get that and as a currency i think its a great idea BUT as a currency all this fluctuation makes no sense. no one wants a currency that is worth one thing one week and vastly different next week. the whole digital gold thing i think is a terrible idea simply because the only reason people are investing in it is due to the large fluctuation and idea that they will get "rich" because "one day" a coin will be worth a gillion bazillion dollars.
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i perceive this to be a prediction based on nothing scientific or real. its just throwing some numbers out there. prove me wrong by showing me what you are basing this range on.
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pretty much but it stayed between 250-500 for a long time before this current boom. i remember it going from 70 bucks in the summer of 2013 to 1000 by the end of the year, not long after it dropped and stayed in the 200-500 range for what seemed like a couple of years.
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this is the only thing i can lend credence to. its very possible. if it happens, ill be sure to own a healthy amount of whatever that replacement is.
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the whole cryptocurrency thing is out of hand right now and everyone is trying to make money off it. it kind of reminds me of the .com boom and bust of the late 90s. some will and some will lose their ass when it gets old and tired and nothing comes of all these digital currencies. like i said, i do like bitcoin as a currency but it has to be worth something realistic and be somewhat stable.