RE: They say a picture is worth a thousand words...
thats great and all, but bitcoin does so much more than just be a payment system for the dark-net(other alts are taking bitcoins place in the dark world) bitcoin is in a class of its own, just one example is if you need to buy other alts for your software well you have to buy bitcoin and exchange it on one of many exchanges available. and when you need to sell your alt coin, you have to convert it back to btc. so you see as the alt coin market goes through its winners and losers, bitcoin will simply eat up all the alt coins that fail eventually. thus adding more to btc market cap. plus its a storage of wealth on top of these things, so even more being added to btc market cap....plus moble casinos use btc now, there will be beter markets than ebay,,,, etc,,,,, it will keep growing to 1 million per bitcoin in our life time.
Bitworld you seem to know your stuff, so i got a question for you (I am not very knowledgeble about the crypto curriencies at the moment) . As you mention you have to use bitcoin to exchange for other currencies, this definetely is an awesome quality of Bitcoin that will always ensure high demand for it. My question is: is there anyway to buy any altcoins directly and not through exchanging Bitcoins? Further, if it is not possible today will it be possible soon you think? i am interested because if this status were to change i am sure that Bitcoins place as number one would change pretty fast.
That is correct, but if you go to coinbase you can use ltc, and eth for exchanging to fiat currency. There is also a exchange called coinexchange.io you can deposite lots of alts here and trade for btc, and many other new alts to be thrown into the crypto economy. But as far as bitcoin goes it will still be the safe investment compared to 95% of other coins for a long time, literally 98% of all things crypto, use btc. And will still have to use btc one way or another. Its also a means for storing your wealth. if you look at the global index, total $$$involved in a safe investment such as gold, well we are talking tens of trillions of dollars. so we are just at the starting point for mainstream adoption, we are past the early investors, now its time for the boom. bitcoin will hit at least 47k per coin when we hit 1 trillion in btc markt cap, and i see bitcoins capturing 5-20 trillion in our life time if not more. so btc will definitely hit 1 million per btc in 10-20 years from today.
With Coinbase you can use USD to buy LTC, BTC, and ETH directly yes. Though if we look around the total crypto space we are seeing more and more global exchanges that are opening up direct buying opportunities for fiat pairs. so one could skip bitcoin and go straight into Dash, or Z-Cash, or Ethereum classic if they choose. This is happening increasingly on the Chinese and Korean exchanges. Bitcoin is still the whale that's true, but it's dominance is being chipped away at in a steady way and will continue to do so until it finally scales and adopts segwit. If that whole thing gets solved in a satisfying way, which I'm sure it will, bitcoin will see it's nice stairstep. We will probably get an other surge into alt's at the same time.
@dandesign86 If you are going to invest in bitcoin right now just be SURE to read up about Segwit2x (google it or search here on steemit) and what the implications are and HOW and WHERE you should store your bitcoin (hint, not on an exchange like coinbase or poloniex. Electrum wallet seems to be a very good safe storage place)
Don't forget about Shapeshift for conversions too. http://shapeshift.io/
@jrcornel
which cave are they from?
only those who has never experienced using it in a physical store would say that
Not exactly; Coinbase now allows sales of ETH and LTC.
You're mostly right though!