Guys I've noticed that bitcoins are cheaper now. I'm willing to buy few of them and sell it again when its value increases.
Should I do this? Do you think its price will be lower?
[Completely newbie on /biz/]
>Do you think its price will be lower?
Absolutely no one knows.
Some think the value of BTC will rise on the long term (because governments will get more and more restrictive with moving money overseas, tax evasion, payments in cash, etc.).
Some think BTC will go down to $0 because it's a scam and/or will be replaced by superior alternatives.
That's it. Now, for the short term, no one can predict anything, and those who do predict stuff are, in reality, just as clueless as you.
Depends on trust. Do you trust a network where the developers are constantly shilling their ideas and fighting against other ones with a different opinion? Do you trust that the company Blockstream isn't gaming Bitcoin? Do you trust that if Bitcoin Classic takes off they'll be competent enough to deal with the infighting issue and maintain the code if Bitcoin Core just walks away?
It's being controlled by brilliant people who are acting like complete dumbasses.
If it just maintains its price without sabotaging itself, then I would estimate that when the rewards halve in a few months that the price would climb at least a little. It could be worth dick as well.
I am just speculating, so I'm pretty much pulling this out of my ass, but BTC will probably rise in about 170 some odd days from now whenever the amount of BTC earned for completing one block will half.
Nothing happened last time this happened, but that was when Bitcoin was relatively unknown to the average investor. Now a wide range of people know about it, and will probably purchase more because of an increase in scarcity.
Bitcoins are the most durable and accepted crypto currency, and they have some value in buying cocaine off the internet.
The question is do you think more people will want to buy illegal shit online in the future?
If you're going to put an money into alts, you definitely need to have some bitcoins as the foundation of your crypto portfolio. The network effects of bitcoin will be hard to overcome and if side chains aren't vapourware, independent alt coins will be history.
Personally my pick of the alts is xmr and it is the only alt I am seriously invested in.