Is Bitcoin and the Blockchain A Major Revolution or Another Asset Bubble?

I would not suggest investing everything on bitcoin itself. Rather find promising cryptocurrency related startups and invest in them. And like with every investment portfolio, try to diversify your basket.
Those are interesting times indeed.

Zachary,

Yes, I think the concept of a decentralized, peer to peer financial platform has major merits when it comes to its disruptive character ...

- BUT -

Just like what Napster was back when P2P media sharing was still fairly new and wasn't tied to social media ...
...
Or what Nokia and Symbian were when mobile technology weren't Android, iOS and iPhone-ish ...
...
Or what MySpace and Friendster were when social media wasn't tied to P2P media sharing, instant messaging, VoIP an wasn't Facebook-ish ..

>> Bitcoin and blockchain could just be pre-cursors to something bigger, or a part of something better that's just waiting to be created ...

I wouldn't touch it with a ten-foot pole!

Let's discuss Bitcoin regs...oh that's right, there are none.

Good luck.

I have a lot of funds in bitcoin and other cryptocurrency , even invested in a few (nearly over 150 now) Bitcoin ATM's with a partner and honestly, You've missed the best time to had invested in bitcoin.

The entire value is pretty much dictated by China, If you had seen the recent rise in price you'd know this too.

I prefer using it purely because it's ease of use, In terms of it being a good investment? I'd say it's worth sinking a bit in it still, want to make some easy funds? Sell Bitcoin on sites as a currency exchange for a percentage.... VERY easy to get 15% rate.

has anyone cosidered bitcoin mining?

For the fact that cryptocurrency gives ordinary people the chance to become financially independent with little investment can easily crown it all, hence the spread and acceptable.

I believe nothing good comes without risk.
If we are going to sit down and not take risk than life would have been how it started centuries ago.

Calculative risk, yes..

Bitcoin is the major player in the world of cryptocurrency though there are quite a few fast rising ones worth investing in.

Yes, crypto may revolutionalize the financial market, banks and other financial institutions may face downturn because of the free hands it gives to many but nobody can predict the future of it so soon even when it looks very rosy.

The major problem crypto may face is the unregulated funds which experts believed could bring about money laundery, drugs and all social vices. Countries may come together and make a law governing these anytime soon and no one knows what the terms will be.

I, like you love the idea behind this cryptocurrency and invested in it and making a hell of money from it now. The key is to pick good and prospective trading and mining companies to invest it and you don't need much to get started. I started with only $100 7 months back and have that in 87 folds.. not mentioning withdrawals.

People are waking up to the destruction and lies the Central Banking Powers have overseen.
Decentralization is the future of freedom, it always has been.

I hold about 10% in BTC, but it has out performed other investments I have and I see it as massive hedge against the broken and corrupt banking systems.

You are kind of late to the party.

It's like you showed up at 4:00 a.m. for a party that started at 7:00 p.m. the previous night, asking where is everyone?

Yes, bitcoin is, and was revolutionary. Yes, there have been a lot of copycats. Yes - a lot of the banking system don't really like it - because it's not as easily controlled (although they are working on changing that, with some success).

A currency is only as good as the people willing to use it. Bitcoin is the digital version of a fiat currency - however, a of people believe in it because it allows for semi-anonymous transactions, isn't (easily or yet) taxed, and in some ways the algorithm is like mining for gold. (I.e., a 'finite' amount).

If you had got in on the ground floor (around 2009) - you could easily be a multimillionaire with a $30-$40 investment. (I.e., read this: https://www.theguardian.com/technolo...rway-oslo-home)

As to what I suppose your 'real' question is - will it skyrocket even higher (say from a current value of $750 USD to say $5000 USD)... Don't know. *Probably*... But as to how long... Don't know. Maybe 5-6 years?

If it gets too popular, my feeling is 'they' will figure out how to track & tax it (apparently Germany already is) - thereby reducing the 'attraction' of using it.

I am your first 'Probably Not' vote. Cryptocurrencies are not new and are, unfortunately, fiat money with nothing backing them than agreement to assign value among users. There are over a dozen active, with BitCoin being the largest. I see BitCoin as neither a revolution nor an asset bubble but voted Probably Not as somebody may be able to apply solutions to make it better.

I'm certain your research has shown how BitCoin is defined by the US government. Bitcoin is treated (by the IRS) as an investment for tax purposes. This makes acceptance a problem for businesses as sales are considered barter (such as stock market certificates traded for a product). If your intent is to remain legal, then all exchanges received digitally must be reported. As BitCoin received varies in value, businesses must track value when received and declare capital gains / losses when the BitCoin received is spent or converted to another currency.

For any attempt to circumvent the tax man, the peer-to-peer networking aspect makes tracking easy for those agencies who decide to look. I hate that Cryptos are on public peer-to-peer networks, so transactions can be traced to an IP address. If anyone believes this is not a problem, try sharing copyrighted movies or music on a peer-to-peer network to test how quickly your activity can be traced

Currency value floats based upon market forces specific to its supply / demand curve, the curve for a crypto certainly can drop to zero because there are no assets nor any (private nor public) institution backing value. If no business nor individual accepts a specific cryptocurrency (or businesses are dissuaded from acceptance), then you know its value. ...and there are cryptos that currently have no value.

My opinion: BitCoin worked as a valid 'proof-of-concept' - Now I'm waiting for the next better solution.

My point of view:

Bitcoin is another asset bubble...

...for people who look at it as an investment asset.

The value of bitcoin is in the blockchain technology.

The technology is changing the financial world and how many other transactions are done.
The bitcoin blockchain might not be the biggest one with the most influence in the future, but it will stay as the first blockchain that started it all.

I've lived in a startup ecosystem which is highly invested in bitcoin and the blockchain technology. They even have their bitcoin company accelerator, where they invest into companies that are developing the blockchain technology or use bitcoin.

During my time there I interacted with a lot of people from the current accelerator program, and they gave me an even better understanding on the blockchain and why it's so important.

The blockchain does revolutionize the way financial systems work.

The price of Bitcoin doesn't. The value is only volatile because of greed. People are investing their money into it hoping it would balloon up, only looking at the dollar signs straight from the face value. Lots of people who invest into buying bitcoin don't even really understand on what it is and how it works.

At the same time, the real value is being built with developing the blockchain and other blockchains.

Ethereum is next level from bitcoin technology, and the development possibilities are way bigger.

You guys will see soon

Why are you posting totally random things that have nothing to do with the topic here?

just for kicks I took a look at a few bitcoin miners. They are very expensive, and guess what, none of the sellers that I visited accept bitcoin as a form of payment.

al

Not to necro an old thread but anyone else profited on the recent spikes?

From the 17th December to now, I've made $6500 just from the increase in the price of BTC.
Very happy Christmas and new year

Lol at the paranoia.

The unknown is evil. Damn the unknown!

As MeelisM pointed out, the real game changer in this is the technology, not Bitcoins.

Bitcoins have flourished due to the Greater Fool Theory. There are no underlying assets behind it, no business model, nothing. The price has risen due to their (so far) being a string of "greater fools" all waiting to follow the leaders.

Bitcoins themselves are the 21st century equivalent of tulip bulbs.

The technology behind them though is what to really watch.

Remember, that during a gold rush, the ones who get really rich are the manufacturers and sellers of shovels - not prospectors.

i have been mining a couple of years

but i have solar and wind generation and direct excess power to the miner

sure beat sending it to the grid

Blockchain technology is the future, the world just doesn't know it yet.

Ofcourse absolutely, the impact on the balance and how stable it is makes it difficult to implement in code.. truely, a great revolutionary achievement for Satoshi the maker...