Bitcoin how long before it collapses

Oaks I trust none of you are going to lose money on Bitcoin?

$16700 odd now.

Some oaks are very simple so allow me to expalin as please explain.

Firstly upfront I dont know when Bitcoin will collapse but I believe it will. Reasons are:

No government can allow some nebulous global system to control; its monetary system. Bitcoin is a threat to governments becuase it:

Faciliotates tax evasion

It nullifys exchange controls. I can pay anybody anywhere in trhe world in bitcoin

It facilitates money laundry

It facilitates terrorism. Right now a wopmen has been appearing before agrand jury in the USa for paying ISIS teroorists with Bitcoin.

Similarly is is used by criminals and drug cartels.

There was an article on Drudge about it being investigated by the EU. I clicked on the link but it did not work.

China I understand has shut down Bitcoin Trading websites because of the criminal money laundering.

Bitcoin is now widely being called the biggest bubble in human history. large banks have said Bitcoin must be destroyed.

Your Bitcoin account can be hacked. North Korea is busy hacking Bitcoin accouints. Of course you can use many passwords and security limits and there are bitcoin vaults .

Google Bitcoin under investigation.

It will take longer and longer to verify bitcoin transactions. To verify a Bitcoin transaction Bitcoin Miners need a copy of the entire blockchain ledger. As the blockchain ledger gets longer and longer the system slows down.

Of interest is the fact the large banks are interested in the blockchain technology. BUT with the banks each transaction will fall under governmental banking laws. Bitcoin is a law unto itself.

To those who have invested I would suggest get you capital portion invested out. Maybe take some profit. However as I said who knows how long it will last. 

To me the fact that Bitcoin undermines governments ensures it cannot go on for too much longer. Bitcoin is still relatively small but as it grows so does the threat.

Any that is my OPINION based on the above details.

Its a hazardous investment with high returns thus far. You need to carefully examine all sides of the argument. I find Bitcoin nutters are usually incredibly optimistic and will never tell new folk what the risks are. Its recruit recruit and more recruiting. There are  also a lot of scams surrounding Bitcoin so take care. A South African guy living in Russia and with a Russian wife came to South Africa  and set up such a scam and got away with 900 bitcoin!!!! 

The daily Mail has an article on Bitcoin. Guy says it will collapse. Check out the bloggers comments as well:

http://www.dailymail.co.uk/news/article-5185485/Wolf-Wall-Street-says-Bitcoin-huge-scam.html

Beware the Bitcoin bubble: 

Most Jewish folk reject bitcoin and that's another indicator and warning why it's weird....a good investment must have "integrity" in a sense.

It seems it only appeals to the dreamers and lazy...get rich schemes are foolish...in any event a fool and his money are soon parted.

Jews are seldom wrong when it comes to investment and money sense.

It has been rejected and outlawed by Israel...see article link below...beware!!

http://flip.it/Dzcfp1

On Bitcoin I have two comments:

1. He who hesitates will always say " If we only had done......" and live to regret. 

2. Time to buy and a time to get out are crucial in all financial transactions.

Snooze and loooooooose ...........

P.S.

Beeno1....appears the Snowflakes are melting under the heat of the corruption of the Ozama Obama regime.

Over and Out.

If I buy a house and the prices drop I still have a house. If Bitcoin collapses I have NOTHING.

AJ nice to hear from you.  I suspect from what I have gleaned that 2018 could see the demonrats sinking like a stone under a mountain of corruption!!! The deep state if fighting hard to not hand over documents but the truth keeps seeping out. From Hussein Obummer, Clintons and down the chain there are many heading for prison.

Meanwhile Trump goes on from one victory to the next! MAGA and America first!. There is a part of America which I believe is the big majority that I love and that other radical progressive globalist bunch which are scumbags and of the vilest!! Also in Europe the populists keep gain ground. There open borders Globalists must be tried and hung for treason.

@ Beeno

True.

And if the rand collapses? What do you have? When the paper its printed on is worth more than the currency itself. In that respect i don't think BC is different from any other currency.

Government backing of real current you say? I'd rather be backed by the people than the government. Isn't government backing reliant on backing from the people anyway? The good old middle man who ha persuaded us all that we can do without him.

On the up side, it offers advantage that regular currency never will. Its just not possible.

Its value has increased because more people have become aware of it's existence and what it offers. That's the sole reason. Pretty interesting. When all that was holding it back was people ignorance to it.

Its open, invulnerable to manipulation and not controlled by the corrupt. I know they passed some regulatory laws in the US a while back...and then the guy who helped write and push the bill then opened up a consultancy firm that assists seller platforms in navigating the tremendous amount of administration required to offer trading services. (Saw that on a netflix doco). Quite funny. I make this gate to protect the people. Then i charge you for information on how to get through the gate. People really are scum.

Its reliance on processing power/energy is what will determine where it goes. When at some point in the future we make the leap to quantum computing then things will change. The block chain algorithms will be more quickly worked through and the energy required to do so will reduce.

One could quite easily write ten books speculating on how it will morph over time and evolve as technology improves. Bloody interesting.

Whatever happens, Bit Coin has showed us that government regulation is much less necessary than we have been made to believe. And it raises the question...in which other areas are we able to strip governments of power while not only landing on par but actually improving the quality of peoples lives? My suspicion is, in probably almost every aspect of governance we could use technology to take power away from the few and hand it back to the masses where it belongs, while remaining capitalist and growing economies.