Bitcoins? Currency of the future?

Not really.

Can’t short what’s not really there.
Can’t buy it for that matter either.

Imagine shorting this thing to non-existence. :smiley:

Hmmmm… very curious. Wish I had bought a couple hundred bitcoins last year when this post was written.

I think goverments will try to fight it badly!

In the world, a modern digital financial system is lacking. Wires fail 4% of the time and it can cost $40 to send $40. Often, banks have to wait days for international transfers.
The success of Bitcoin and related technologies bodes well for the future.
It is definitely an exciting time for financial technology and I expect some more innovations as we go along in the future.

Euhm, this can apply to paypall to. And how do you cash-out bitcoin? Nah, not my kinda thing. especially with all those dodgy broker companies and exchanges. It is not even hip anymore. :smiley:

Sure bitcoin is one of the important currency trading platform were you can sell/buy bitcoin in online. And bitcoin is going to became most popular coin in future.

do you know any broker that let you trade BTC?

Not sure as none of my forex brokers are currently offering BTC to be traded on their platform, maybe they will add this in future. You can check on google for your desire results however i usually trade bitcoins against other crypto-currencies and USD using bittrex and btc-e.

I don’t think a world currency is coming, anytime soon.
And even if it is, it won’t be bitcoins.

If anything there will be more cryptocurrencies, not less. I mean, even now Russia is preparing to ban bitcoin and all other cryptocurrencies and create its own, which will be, no surprise there, heavily controlled by the state. We are all too different, too disparate to create a world currency anytime soon.

I think that one of the most essential factors that people need to remember when discussing bitcoins potential to be the currency of the future is that bitcoin is not just a currency. Bitcoin is much more than a simple online currency. Bitcoin is the payment protocol of the internet. What I mean by this is as followed. Everyone has a debit or credit card in the developed world, this technology is around 70 years old. The internet and more specifically online shopping is about 10 years old. Now when you spend online using a credit or debit card, you are exchanging multiple pieces of sensitive data with more than one intermediary. What this means is that you are willingly putting yourself at risk of credit/debit card fraud. The same way the merchant receiving your funds is also subject to a chargeback every 1 in a 100 transactions as a result of this fraud. Meaning that for merchants and customers alike who are utilising this outdated technology are at a potential risk of losing money. Now if merchants and customers were using bitcoin this would not happen. No information is exchanged, all transactions are registered on the blockchain and chargebacks are not an issue. Now what this means is that by utilising bitcoin as the payment protocol of the internet you are removing the risks associated with the outdated technology that is credit and debit cards. Bitcoin is much much more than a currency and when people take the time to dive into the use cases for bitcoin besides gifting value in a peer to peer transactions, you will truly see the value of bitcoin and just how revolutionary it is. Once a person is enlightened to this, the decision about whether or not to be involved is a resounding yes.

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Bitcoin is still banned in many countries i guess however it is still traded and is highly volatile market, i noticed that the price eventually went up in the last one week or two, let see what will happens to its value when it reaches to its halving in July 2016.

Bitcoin is only banned in Iceland, Ecuador, Bolivia, Kyrgystan and Vietnam. All of these countries make up just 4.25% of the worlds GDP which is a very small amount. It is also worth mentioning that 4 out of 5 of these countries are very much developing economies and therefore the government and banks within these countries need to restrict the use of bitcoin to ensure that they keep the countries financial system denominated in FIAT currencies afloat. Additionally, Iceland (the country not included) already have a very accountable financial system, recently they imprisoned leading banking figures for their role in the 2008 economic crash. Therefore, bitcoin is not as attractive to them at this moment in time.

That being said, all 5 of these countries would benefit from using the bitcoin network on a peer to peer basis and once the confusion and negativity towards bitcoin in stripped away, and people are able to see the true purpose of this great piece of technology, any country that still bans bitcoin use or simply does not use it will be hindering themselves and their financial industry.

IG UK let you trade BTC

Bitcoin is definitely spreading all over the world at a fast pace. With the Brexit drama and the GBP crash many UK citizens surged to change their money into Bitcoin to protect their funds. Now Coinbase, i.e. the largest Bitcoin exchange in the world, has formed a partnership with a large Japanese bank and they intend to fuel an Asian expansion, although there’s no word whether that means expansion in Japan. I doubt they’ll be last to do that.

How do you think banks feel about Bitcoin? Do they think it is trustworthy. I have heard a lot about the use of Bitcoin for illegal activity. Do you know if they have made any advances in monitoring the activity associated with it?

I agree that bitcoin would become stronger every year. My broker has introduced bitcoin trading and I’m seriosly thinking about to start trading them.
It’s not cheap, but may give me great income

Bitcoins are good to trade however they have a lot of volatility risk associated with them and that’s why only few brokers have started accepted them so try to be very careful while trading with them and stay safe.

Bitcoin is a very interesting and perspective direction in trading and cryptcurrencies, but many analysts are prone to believing that one day this currency will pop like a soap bubble, since it’s not founded on anything, what do you guys think?