Ask me anything about BTC

Title says it all, I see a lot of LQ posts asking about BTC and crypto so I decided I could try and decrease that and help out some people as well.

Ask below, I'll do my best to answer your questions.

Edit: Don't ask about mining, i'm not well-versed in that subject.

Also, low quality and repetitive posts will get a neg and be ignored.

Do you think BTC will ever crash? What do you think about other crypto currencies?

02-11-2017, 02:29 PM

Roz Wrote: Do you think BTC will ever crash? What do you think about other crypto currencies?

It certainly has the potential to go down, but I am optimistic about it's future because there is a limited quantity of BTC that will ever exist, it is a decentralized system so there is no entity such as a government that can control it, there is a growing demand from companies who now accept is and consumers who want to use it, and there will always be a value to BTC because it's untraceable nature which makes it ideal for shady transactions because even cash can be traced with hard work.

As for other cryptos I would be wary in dealing with any of them. Although I do not know too much about the others ETH seems to be the safest alternative to BTC.

Do you think that bitcoin still increasing very much?

02-11-2017, 05:24 AM

Xanny Wrote: Title says it all, I see a lot of LQ posts asking about BTC and crypto so I decided I could try and decrease that and help out some people as well.

Ask below, I'll do my best to answer your questions.

Edit: Don't ask about mining, i'm not well-versed in that subject.

Bumping this thread.

Does it personally scare you that Mr. Nakamoto owns 1 million BTC and can crash the market at any given time and claim his multi-billion dollars?

11-11-2017, 10:11 AM

thespacebar Wrote: Does it personally scare you that Mr. Nakamoto owns 1 million BTC and can crash the market at any given time and claim his multi-billion dollars?

lol :lol: excellent question...

What do you think that is going to happens after the upcoming fork?

03-11-2017, 12:06 AM

Xanny Wrote: It certainly has the potential to go down, but I am optimistic about it's future because there is a limited quantity of BTC that will ever exist, it is a decentralized system so there is no entity such as a government that can control it, there is a growing demand from companies who now accept is and consumers who want to use it, and there will always be a value to BTC because it's untraceable nature which makes it ideal for shady transactions because even cash can be traced with hard work.

As for other cryptos I would be wary in dealing with any of them. Although I do not know too much about the others ETH seems to be the safest alternative to BTC.

Correct me if i'm wrong but can't bitcoin even be tracked in some cases?

13-11-2017, 07:16 PM

wavyrelish Wrote: Correct me if i'm wrong but can't bitcoin even be tracked in some cases?

Only if you leave a physical footprint or a footprint online.

11-11-2017, 10:11 AM

thespacebar Wrote: Does it personally scare you that Mr. Nakamoto owns 1 million BTC and can crash the market at any given time and claim his multi-billion dollars?

If he crashed it, his multi-billion dollar stash of BTC would be worthless.