is bitcoin mining worth it anymore 2014 1040
Isn't this very million To summarize, our aim is to offer a wide range of services, so that BitKonan take the lead role of Bitcoin industry. You can't do much with it except make jewelry, and in a recession people don't want jewelry and so gold is bitcoin appealing. You're probably right, especially with the expansion of private space exploration. You're missing his half now. The rise of bitcoin, as a concept, is a direct by-product of the corruption and totalitarian nature of the fiat system. We've all been brainwashed into thinking it is dollars but it is not.
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Currencies are easily exchangeable. Losses and thefts But if we take a closer look, it seems obvious that lots of bitcoins will get "lost" over time. That may have been before we left the hold standard with our money. Criminals use all currencies including Bitcoin. Related communities Sorted roughly by decreasing popularity. So we decided to use our experience and knowledge and to offer to the Bitcoin community a market that meets the demands of a professional trader who seeks swift execution, advanced functions stop limit and visibility.
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Who's going to half regulate Bitcoin or convince the SEC that regulation isn't needed? But, with million alternative limited supply commodity like Bitcoin available for wealth storage Determining the total value of the world is admittedly imprecise. In order dollars do so, the user must provide proof of their right to spend that amount of the sidechain coin; in other words, show a path of previous bitcoin which result in the coin being spendable by this user, not unlike how a bitcoin spend requires identifying specific funds which can be used for the desired transaction. Bitcoin will get half million dollars prices by
Bitcoin half a million dollars
At the end of the day, currently rich people will be herding BTCs, and the overall distribution scheme will mostly remain. Technology alters society gradually; it takes time for humanity to comprehend the new ways of thinking. They'll adopt a new crypto, flattening further the distribution graph. The real implication of bitcoin is that it will replace the existing financial system - and along with it will permanently remove the concept of nation-states from the human psyche.
Obviously, I'm not talking about 5 years here A thousand years in the future people will look back and see the very large brush strokes of humanity groping forward: Breaking free of the church, breaking down aristocratic rule, development of the printing press and internet, and the formation of decentralized currency will appear on that list.
I did the math, if you assume 1 million is well off instead of 3 million, then you only need about 10 BTC. How could this number be known? I have many coins in cold storage. How does the public know whethr or not I lost them? Half those reported losses might just be people covering their asses, knowing they might be targeted in the future. When you feel it in your body You found somebody who makes you change your ways Like hanging with your crew Said you act like you're ready But you don't really know And everything in your past - you wanna let it go.
I've been there, done it, fucked around After all that - this is what I found Nobody wants to be alone If you're touched by the words in this song Then baby U got, u got it bad When you're on the phone Hang up and you call right back U got, u got it bad If you miss a day without your friend Your whole life's off track You know you got it bad when you're stuck in the house You don't wanna have fun It's all you think about U got it bad when you're out with someone But you keep on thinkin' bout somebody else U got it bad.
When you say that you love 'em And you really know Everything that used to matter, don't matter no more Like my money, all my cars You can have it all back Flowers, cards and candy I do it just cause I'm Said I'm fortunate to have you girl I want you to know I really adore you All my people who know what's going on Look at your mate, help me sing my song Tell her I'm your man, you're my girl I'm gonna tell it to the whole wide world Ladies say I'm your girl, you're my man Promise to love you the best I can.
See I've been there, done it, fucked around After all that - this is what I found Everyone of y'all are just like me It's too bad that you can't see That you got it bad BTC is a fiat currency. But it doesn't have inherent value - you ascribe value to it. It'll be a long time before this universally acceptable means of payment is not the USD or another local currency, depending upon your location.
There's still a real possibility that at some point somebody high profile will stop accepting BTC and then somebody else will say "it's worthless, it's only a string of ones and zeroes" and the whole currency will collapse. At least USD has a promise to pay - how much that promise is worth is debatable but it is worth at least as much as the lack of a promise with BTC. The future of cryptocurrency requires something that is both non-inflatable and asset-backed.
Until then, cryptocurrencies will come and go just like traditional currencies. The big question for me is what asset can back a currency. We've all been brainwashed into thinking it is valuable but it is not. You can't do much with it except make jewelry, and in a recession people don't want jewelry and so gold is less appealing.
The right asset shouldn't be subject to whims and fads. IMHO what has to happen is that the government has to ignore it for a long time, or at least do nothing for a long time. Without government intervention, I don't really see much of an end in sight. It might be volatile, but it's pretty easy to hedge against that volatility with standard portfolio theory, and given the historical prices of BTC, it looks pretty good for a crazy volatile security.
My prediction is that once the Winklevoss thing goes up, shit loads of people will buy very small amounts, driving the price crazy. This attracts another big spike in attention from the market as it goes up, and another when price drops off a cliff two weeks in. From there, we'll have decently wide awareness, and we'll see a steady growth with massive bubbles every few months.
After a certain amount of time, price would probably be insulated against bubbles though, since we tend to recover very quickly. All they have to do is defect from their old overlords the banking cartel to the much more powerful and much more promising and rewarding and much less tyrannical new overlord Bitcoin, then they will no longer serve and protect the bankers, they will serve and protect Bitcoin. And this is exactly what is going to happen.
They are motivated by greed and Bitcoin can satisfy it much better than anything or anybody else. The banking cartel is history. Welcome our new overlord. If Bitcoin were to reach the levels of ubiquity that would make it the currency it's possible.
I can't imagine it happening but maybe in 10 years? For 1 Bitcoin to be worth 1 million dollars, the world, which is increasingly being connected through the internet, will have to value 1 satoshi, the minimum amount you can buy to be able to send an output in the Bitcoin network, at 1 cent each. Do you think the ability to send 1 output in the Bitcoin network be worth 1 cent in the future? From the Bitcoin Wiki under Transactions: An output contains instructions for sending bitcoins.
I think you are right though but you would have to change the code, but for now the protocol has a minimum of a satoshi. This is old, I know, but I wanted to let you know: Future Bitcoin software can have finer precision. I don't have the articles on hand, but I believe it would certainly be possible.
There will still be a push by various gangs governments to either regulate it out of existence or marginalize Bitcoin. So, don't count on your coins being super valuable quite yet. Just buy and spend them to expand circulation. Have you considered what the World GDP is? How much GDP ends up in cash? Hard to say, that's what's weird about money, because time is part of the value.
Money spent today is worth less than money spent tomorrow, usually, sometimes it goes the other way. Correct, if bitcoin only overtook gold as a major store of value, it could not reach 21 trillion dollar market cap. But bitcoin is more than a store of value, it's also a payment protocol, like PayPal or western union, and a currency, like the dollar or euro.
So with full scale adoption and usage what is a logical target value, both on a conservative realistic scale and then on a best case scenario? Just some funds flowing into it.
For comparability to other assets, currencies, economies, etc. This is just an "at least", one needs to keep in mind that out of the 7. The only thing that will make gold go away is a new extraction method, or if we start mining asteroids and they find a golden asteroid, which is highly unlikely.
Think about how expensive it would be to mine an asteroid, and bring back minerals without them burning up in the atmosphere. If you found huge amounts of gold on an asteroid, and brought it back, the value of gold would fall so much, that it wouldn't be profitable to have brought it back in the first place. Asteroid mining will be strictly for building things in space, or someplace like the moon where resources are scarce or non-existent.
I once heard an astronaut say that if the surface of the moon was covered with gold bars, it wouldn't be worth it for us to go pick them up. That may have been before we left the hold standard with our money.
I'll bet someone would be trying for that with today's prices. You're probably right, especially with the expansion of private space exploration. If the moon was covered with gold, Elon Musk would probably be building a hypeloop to get there. You are right, and that is why I said it was highly unlikely.
However, my first point is valid, look at the history of aluminum and you will see that extraction method is key to the values of PMs. That's not a fair comparison. Aluminum is one of the most abundant substances on earth. It was the difficulty of refining the ore without benefit of modern technology that made aluminum valuable. And thinking further on your point about extraction methods, if gold were to become "common" it would lose value, but it would never go away.
We humans are like crows in that we like our shiny. It's heavy, it's malleable, it's shiny, it's inert. If it were very common, we'd all just be wearing a whole lot more bling. You have to pay someone to guard your gold, you can't transport it as easily, it cant be encrypted, and the supply is not as limited. Why can't Bitcoins make gold go away eventually? It seems it does everything gold does, plus more. But, with an alternative limited supply commodity like Bitcoin available for wealth storage I suspect that gold prices may drop more than a little, if demand for it drops.
I don't see Bitcoin or something like it going away unless the internet goes away. And if that happens then no one is going to care about gold.
Having the internet go away would be a world class bummer, for sure. Then all the gold will belong to the cockroaches. I wonder if they'll use it for money, or use it up making bangles for all their cockroach wrists and ankles.
Gold mandible piercings instead of bangles? Probably too many cockroaches for them to all have multiple bling. The thing with Bitcoin, is that it is not directly nominally tied to any specific currency, so the price of a bitcoin is based on the demand of its users. There is nothing that really grounds it as a currency, and so its worth something if people say its worth something. The thing with the Bitcoin is it is independent, as well as free from the constraints of the rest of the world. Bitcoin markets are still very poorly developed and have not yet reached the level of a full range of functions which Bitcoin with its potential deserves.
So we decided to use our experience and knowledge and to offer to the Bitcoin community a market that meets the demands of a professional trader who seeks swift execution, advanced functions stop limit and visibility. On BitKonan is also very easy to place an order the key combination buy, sell and this makes it accessible to any ordinary trader as well. Bitcoin is very often linked to crime, what do you think about this general perception in public? Everything can be linked to the crime.
Criminals use all currencies including Bitcoin. Bitcoin is not anonymous, as some may think, because all Bitcoin transactions are public and visible in the transaction chain. I think the Bitcoin protocol is a revolutionary technology that has a great future, although still belongs to an extremely risky investment. If enter in widespread use, Bitcoin could worth more than half a million dollars each.
In the long term I think Litecoin could profile itself as a currency for the broad mass because of the rapid transaction processing and to become a serious alternative to Bitcoin. If we apply 2nd law of thermodynamics, the long-term value of Bitcoin and Litecion will be leveled out. Looking from this point of view it seems that Litecoin is currently better investment for long term investors and speculators. Now it seems impossible, but remember that only a year ago Bitcoin was worth a few dollars, and today about the dollars, same thing could happen with Litecoin.
In any case Bitcoin protocol will leave a deep mark in history … you can bet on it! We can be happy that we live in a time when Bitcoin occurred and that we are part of it. What do you think about other crypto currencies? We are thinking to introduce shitcoin on the market…. All alternative crypto currencies are copies of Bitcoin and Litecoin, so I do not see reason why they should enter in the widespread use.