Post: #51

Interesting topic. Let's say, that I use all of my savings to buy .5 bitcoin now (about 6k). While market price is estimated to go up, how feasible will it be to find some exchange or someone to actually pay me fiat currency for such .5 bitcoin? I invest usd 6k, it goes up in value to, lets say, 24k. I try to sell it in coinbase, how am I guaranteed that I will get the 24k into my account?

Post: #52

You will hit the withdraw button and it will show up in your account.

Coinbase is reliable. Bill Braskey got screwed by them because he tried to log in from a company that they're forbidden from dealing with, and tripped a bunch of their internal alarms, but beyond that they're fine in terms of reliability.

Post: #53

If the market price is 24k that means 24k is the current price people are paying on exchanges so of course you will be able to sell at the market price. Some services will charge a fee or traders such as sellers on localbitcoins will have a margin of a few percent but you can always send your bitcoin to an exchange yourself and sell at the market rate.

Post: #54

Look at what happened to the Chinese market. Mom and Pop investors caused a bubble which crashed and nearly caused a Global recession. Luckily aggressive Foreign Direct Investment reduced the blow and impact. The same is happening with Bitcoin but since it's on U.S. soil there isn't going to be much FDI to save the day.

Post: #55

I'm not sure I follow. Do you think Bitcoin is going to cause a global recession?

Post: #56

Bitcoin is used mainly by speculators. It does not have real everyday active users.

That's why Bitcoin will not impact almost anything.

Bitcoin is just a classic bubble (growth 16 times in the last 11 months) that will burst, like all bubbles do

Post: #57

At what price will it burst and at what price will it end up?