The best online Debate website - DebateIsland.com! The only Online Debate Website with Casual, Persuade Me, Formalish, and Formal Online Debate formats. We’re the Leading Online Debate website. Debate popular topics, Debate news, or Debate anything! Debate online for free! Bitcoin future?in Investments

islander507

realistically, does Bitcoin at this point have a promissing future or is it still just hype?

islander507

After much up and down, this crypto currency is now floating around all time high at almost $1200.  With threat of regulation, so much potential for fraud, and fuel of criminal markets...I think the actual currency valuation is not justified

agsr

I am not bullish on Bitcoin currency.  The big issue is that taking on mainstream adoption of competing with credit cards is not realistic. Reward points, fraud protection create hugh barriers of entry.  That said, they fill a freat niche in underserved markets of 3rd world.  
The underlying technology of Bitcoin though has much potential, of creating entirely new ecosystems of distributed trust vs centralized clearing.

love2debate

Blockchain, the technology behind bitcoin currency is transforming many industries.  It is now starting to reshape payment industry, offering potential for lower transaction costs and a distributed ledger that can eliminate banks from many transactions.
So while it's debatable if the currency is priced correclty, the distributed economy powered by Blockchain will be a game changer.

joecavalry

Yes, but the price is very dependable and not too reliable.

inc4t

Blockchain will succeed, but currency is way overpriced and not a good investment.

ale5

I think bitcoin will not really succeed long term, but it will give birth to other ideas and technologies 

raehuiw

I agree with @ale5 .

Logic

Seems like a scam to me. The entire thing sounds great, But will it succeed? I don't think so. I also agree with @ale5 .

companiesruen

I agree with @logic . It could be a scam and easily hackable due to their being no "central" administration or anything like that. It's extremely risky to invest in it. A couple of years ago it was in the 500s now it's in the 1000s. It could go down and fast. That data is possibly accurate. I would not invest in bitcoin due the security not being where it should be and one day you could buy 1000 tv with one bitcoin the next you can't buy a carpet. Too risky to invest in, for that reason i don't believe it's the currency of the future. Although, others like that with better security could be.

agsr

Lack of central administration is certainly a key feature.  That makes it unique and at the same time exposed to hacks.

drelamela

Bitcoin isn't the future, no security at all.

Logic

The internet already controls us, All we do in our lives, Is use the internet.  The whole thing seems fishy, Like it's trying to bring us into an age of, Electronic cash.  Which frankly, Doesn't sound good at all.

agsr

@Logic, I agree that bitcoin is filled with fraud potential.  There was an incident years ago where the bitcoin exchange was scammed and people lost all of their holdings.  There were also incidents where bitcoins were stolen with no recourse (you just need to know the key and its gone with No trace).  For places though that don't have readily access to other forms of funding, it is an effective form of micro-payments. Many people find it advantageous not to rely on central clearing that charges a fee for every transaciton

joecavalry

Bitcoin number about 1 billion dollars in market cap over night today and gained about $500.00. Due to this it seems like a pretty good option short-term, don't know about look kg term due to security issues and there being no central authority.

agsr

@joecavalry is right.

 a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.

At least 40 start-ups have launched an ICO this year, according Smith + Crown data.

http://www.reuters.com/article/us-markets-forex-bitcoin-idUSKBN1852DL