Posted on 09/28/2016 12:46:18 AM PDT by aquila48
How is Bitcoin faring in the market and what’s in store for the digital currency community in the near future? A recent assessment made by Needham report draws an outline of all the things that might soon happen with the most popular cryptocurrency. One glance at the report, and it is quite evident that the digital currency is right on track.
According to the report, the adoption rate of Bitcoin has been better than all previous expectations. With increasing demand, the price projections for the digital currency has improved as well. The Needham report has revised its project from $655 to $848 per Bitcoin in the near future. But this improvement in Bitcoin’s forecast doesn’t reflect on the digital currency-related assets and derivatives like GBTC or other ETFs. The fundamental differences between Bitcoin and its derivatives have forced the publication to downgrade the rating of GBTC from previous BUY to HOLD.
While there are multiple reasons for the ratings of GBTC to drop, the most significant one among those concerns scalability of the Bitcoin protocol. The block size debate is probably the longest argument in the world. It has been over a year since multiple factions of the Bitcoin community have locked horns to come up with a universally acceptable solution for scaling up the protocol, without much success. Small groups of developers have come together on multiple occasions to propose various innovative improvements to the blockchain. Some of their proposals have met limited success until one group or the other shoots it down completely.
(Excerpt) Read more at newsbtc.com ...
Unbelievable!
I’m not real fond of tossing money into the ether to strangers in hopes they are not international crooks.
I suggest buying bitcoin, or ether, at Coinbase. They specifically disallow transactions with suspicious entities.
I appreciate the suggestion, but I have a better way. If I don’t know anything about ‘em they don’t get my money, especially on the internet.
Bullish on BTC here. Scaling is huge issue but it wiil be solved by sidechains and new “layers” like the Lightning Network.
Bullish also on the new altcoin going live Oct 28, 2016: zcash. The first truly private coin based on advanced cryptographic techniques. This coin will make a nice sidechain coin, blocking governments from tracking your cryptocurrencies. Get more info at www.z.cash!
Break big government by breaking its control of money by using bitcoin and zcash.
IMO, crypto currencies have a place in one’s portfolio. They are speculative since they have a long way to go in being accepted as legitimate currency.
I have targeted an allocation of 2% of my portfolio to cryptocurrencies, compared with 6-8% in precious metals.
I agree. I manage a relatives funds. She is mostly in cash and CDs. There is an allocation for BTC and PMs. BTC is the best performer in her portfolio and Gold and Silver are next.
Well rounded means well rounded.
Talk about your fiat currency. :-D
It’s actually starting to look like a pyramid scheme.
Aren’t those illegal?
In some ways it reminds me of tulipmania.
But my real observation is not that bitcoin is such a good thing, it is that EVERYTHING ELSE IS SO BAD.
Yeah.
I remember back in the late 80’s, as a COBOL programmer I was making about $48k a year. One of my buddies said that we were paid too much. I said, “No. The problem is that the dollars we are paid in are worth so little.”
Still, that was a lot of money to be making off a $2,100 ten month course on COBOL/IMS.
It almost quadrupled by Y2k. College is soooo 20th century. :-)
I’ll check out Z cash.
The push by governments to ban cash will undoubtedly create more demand for cryptocurrencies.
Will the government then start regulating and controlling cryptocurrencies?
No zcash available yet. Minimg starts October 28. Is CPU based mining so set up your own rig at home and mine a few yourself. Probably won’t be on exchanges for a while since coin supply starts at zero
That URL doesn't work.
Got something else?
CA...
They can illegalize it, just like they can try to make the sun or moon illegal.
Are they going to make decentralized anonymous money illegal. So what? It’s beyond their reach. Currently not illegal tho.
Yeah, I get that. Still, as someone else said, it’s like tulip mania. And at least, when you sell your home to buy a tulip bulb, you can always plant it and have a nice flower. :-P
And how would you have closed out your position to reached that exalted level?
Just curious...
CA....
Just how do I set about doing this?
CA....
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