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Bitcoin future?

islander507islander507 125 Pts
edited May 12 in Investments
realistically, does Bitcoin at this point have a promissing future or is it still just hype?
drelamela
  1. Is Bitcoin going to succeed?11 votes
    1. Yes
      54.55%
    2. No
      45.45%

Comments

  • After much up and down, this crypto currency is now floating around all time high at almost $1200.  With threat of regulation, so much potential for fraud, and fuel of criminal markets...I think the actual currency valuation is not justified
  • agsragsr 493 PtsPremium Member
    Premium Member
    I am not bullish on Bitcoin currency.  The big issue is that taking on mainstream adoption of competing with credit cards is not realistic. Reward points, fraud protection create hugh barriers of entry.  That said, they fill a freat niche in underserved markets of 3rd world.  
    The underlying technology of Bitcoin though has much potential, of creating entirely new ecosystems of distributed trust vs centralized clearing.
    Live Long and Prosper
  • Blockchain, the technology behind bitcoin currency is transforming many industries.  It is now starting to reshape payment industry, offering potential for lower transaction costs and a distributed ledger that can eliminate banks from many transactions.
    So while it's debatable if the currency is priced correclty, the distributed economy powered by Blockchain will be a game changer.
  • Yes, but the price is very dependable and not too reliable.
    DebateIslander and a DebateIsland.com lover. 
  • inc4tinc4t 130 Pts
    Blockchain will succeed, but currency is way overpriced and not a good investment.
  • ale5ale5 129 PtsPremium Member
    Premium Member
    I think bitcoin will not really succeed long term, but it will give birth to other ideas and technologies 
    raehuiwLogic
    It's kind of fun to do the impossible
    - Walt Disney
  • LogicLogic 215 Pts
    Seems like a scam to me. The entire thing sounds great, But will it succeed? I don't think so. I also agree with @ale5 .
    companiesruen
  • I agree with @logic . It could be a scam and easily hackable due to their being no "central" administration or anything like that. It's extremely risky to invest in it. A couple of years ago it was in the 500s now it's in the 1000s. It could go down and fast. That data is possibly accurate. I would not invest in bitcoin due the security not being where it should be and one day you could buy 1000 tv with one bitcoin the next you can't buy a carpet. Too risky to invest in, for that reason i don't believe it's the currency of the future. Although, others like that with better security could be.
  • agsragsr 493 PtsPremium Member
    Premium Member
    Lack of central administration is certainly a key feature.  That makes it unique and at the same time exposed to hacks.
    drelamela
    Live Long and Prosper
  • Bitcoin isn't the future, no security at all.
  • LogicLogic 215 Pts
    The internet already controls us, All we do in our lives, Is use the internet.  The whole thing seems fishy, Like it's trying to bring us into an age of, Electronic cash.  Which frankly, Doesn't sound good at all.
  • agsragsr 493 PtsPremium Member
    Premium Member
    @Logic, I agree that bitcoin is filled with fraud potential.  There was an incident years ago where the bitcoin exchange was scammed and people lost all of their holdings.  There were also incidents where bitcoins were stolen with no recourse (you just need to know the key and its gone with No trace).  For places though that don't have readily access to other forms of funding, it is an effective form of micro-payments. Many people find it advantageous not to rely on central clearing that charges a fee for every transaciton
    joecavalry
    Live Long and Prosper
  • joecavalryjoecavalry 151 Pts
    Bitcoin number about 1 billion dollars in market cap over night today and gained about $500.00. Due to this it seems like a pretty good option short-term, don't know about look kg term due to security issues and there being no central authority.
    agsr
    DebateIslander and a DebateIsland.com lover. 
  • agsragsr 493 PtsPremium Member
    Premium Member

    @joecavalry is right.

     a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.

    At least 40 start-ups have launched an ICO this year, according Smith + Crown data.


    http://www.reuters.com/article/us-markets-forex-bitcoin-idUSKBN1852DL


    Live Long and Prosper
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