Bitcoin price, where next?

[milanbenes]

Bitcoin value will go down to zero and will be replaced by a regulated crypto currency.
Bitcoin itself will never be an official cryptocurrency as it is currently mostly in the wallets of criminals

+1

anyone who cannot see this is in denial

there;s cat in hells chance that a crypto launched by Kevin from Wolverhampton will ever become the world's next reserve currency

Milan.

[Jog On]

+1

anyone who cannot see this is in denial

there;s cat in hells chance that a crypto launched by Kevin from Wolverhampton will ever become the world's next reserve currency

Milan.

I'm not so sure - they must have gone through quite a bit of hassle setting up those futures contracts. I don't think it will ever be a currency for transactions but as a speculative asset it's more symbolic than anything else.

[jamesbrown]

Currently, crypto currencies are useless as, er, currency As tulips, the regulators will continue to hammer them, because it’s better to kill them now than later. They can kill them quite easily, because most “investors” ultimately want to extract profits into a stable source of wealth. At the same time, value will be spread across more implementations in a form of crypto QE. The underlying technology, OTOH, has great potential.

[Jog On]

US Senate testimony to be announced today - PDF released early:

VI. Potential Benefits
I have spoken publicly about the potential benefits of the technology underlying Bitcoin,
namely Blockchain or distributed ledger technology (DLT).
22
Distributed ledgers – in various
open system or private network applications – have the potential to enhance economic efficiency,
mitigate centralized systemic risk, defend against fraudulent activity and improve data quality
and governance.23
DLT is likely to have a broad and lasting impact on global financial markets in payments,
banking, securities settlement, title recording, cyber security and trade reporting and analysis.24

When tied to virtual currencies, this technology aims to serve as a new store of value, facilitate
secure payments, enable asset transfers, and power new applications.
Additionally, DLT will likely develop hand-in-hand with new “smart” contracts that can
value themselves in real-time, report themselves to data repositories, automatically calculate and
perform margin payments and even terminate themselves in the event of counterparty default.25
DLT may enable financial market participants to manage the significant operational, transactional and capital complexities brought about by the many mandates, regulations and
capital requirements promulgated by regulators here and abroad in the wake of the financial
crisis.

26
In fact, one study estimates that DLT could eventually allow financial institutions to
save as much as $20 billion in infrastructure and operational costs each year.27
Another study
reportedly estimates that blockchain could cut trading settlement costs by a third, or $16 billion a
year, and cut capital requirements by $120 billion.28
Moving from systems-of-record at the level
of a firm to an authoritative system-of-record at the level of a market is an enormous opportunity
to improve existing market infrastructure.
29

Outside of the financial services industry, many use cases for DLT are being posited from
international trade to charitable endeavors and social services. International agricultural
commodities merchant, Louis Dreyfus, and a group of financing banks have just completed the
first agricultural deal using distributed ledger technology for the sale of 60,000 tons of US
soybeans to China.30
Other DLT use cases include: legal records management, inventory control
and logistics, charitable donation tracking and confirmation; voting security and human refugee
identification and relocation.
31
Yet, while DLT promises enormous benefits to commercial firms and charities, it also
promises assistance to financial market regulators in meeting their mission to oversee healthy
markets and mitigate financial risk. What a difference it would have made on the eve of the
financial crisis in 2008 if regulators had access to the real-time trading ledgers of large Wall
Street banks, rather than trying to assemble piecemeal data to recreate complex, individual
trading portfolios. I have previously speculated32 that, if regulators in 2008 could have viewed a
real-time distributed ledger (or a series of aggregated ledgers across asset classes) and, perhaps,
been able to utilize modern cognitive computing capabilities, they may have been able to
recognize anomalies in market-wide trading activity and diverging counterparty exposures
indicating heightened risk of bank failure. Such transparency may not, by itself, have saved
Lehman Brothers from bankruptcy, but it certainly would have allowed for far prompter, betterinformed,
and more calibrated regulatory intervention instead of the disorganized response that
unfortunately ensued.

Buy Ripple

[scooterscot]

Santander to Launch Ripple Retail Payments App in 4 Countries

https://www.ccn.com/3-clicks-40-secs...p-4-countries/

[ChimpMaster]

Santander to Launch Ripple Retail Payments App in 4 Countries

https://www.ccn.com/3-clicks-40-secs...p-4-countries/

Ripple has come down nicely these past few days. I took my eye off the ball and was surprised when I checked ... 65 cents!

[NotAllThere]

Good effort sir.

But, erm, 27 post views and 57 votes for AndyW's mum?

That was to deal with the being able to vote for more than one option.

[tomtomagain]

$4k by the end of Feb.

$2k by the end of 2018.

Does anyone know at what price it becomes inefficient to mine new bitcoins?

[pjt]

$4k by the end of Feb.

$2k by the end of 2018.

Does anyone know at what price it becomes inefficient to mine new bitcoins?

That's a worry. I read its about $5k not sure how right that is. What happens when mining becomes unprofitable. Surely without miners we have no use for the coin!

[scooterscot]

That's a worry. I read its about $5k not sure how right that is. What happens when mining becomes unprofitable. Surely without miners we have no use for the coin!

BTC is never going to be an everyday transaction coin.