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Bitcoin is going to reward the holders well this time  Well it already has several times, patience is what one needs to have to make a decent profit out of bitcoin. |
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With the halving, won't the price rice because of the increased difficulty?
It depends, but all the indications are towards the growth. It'll probably rise as miners won't dump for cheap & demand is increasing. Price of bitcoin can't be predicted. So yeah it might rise or might not after the halving. |
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From a newbie who got introduced to bitcoin because I wanted to buy 'something' that only accepts bitcoin .. I didn't like the experience at all and I'm a computer programmer by profession so I'm comfortable with technology.
Here's my initial experience - I went about buying bitcoin, researched about wallets then read about warnings people gave - I don't know whether they are common threats / outdated info :
- Use paper or cold storage or else my bitcoins might get stolen - use a LiveCD, offline transaction signing, another PC/Laptop that has never been connected to the Internet
- when you send to someone, better create a new wallet 'offline' wallet since the keys have now been used (I believe Hot Key is the term)
- Oh have a 'Change Address' or else your bitcoins might get lost
- Never store your bitcoins with Exchanges in case they steal it or worst close up like Mt Gox
In the end, what I did was buy the exact bitcoins I needed, send to my phone wallet then paid. Oh and by the way, here in Australia, in order to buy bitcoins I needed to verify my identity to an exchange - as in send driver's license info, a utility address, passport etc (not sure if this is the case with other countries).
Anyway, I saw bitcoin as a good investment so bought some when they were 700 Australian dollars - here are the steps I did based on the recommendations I've read :
- download Tails and create Live USB
- download offline bitaddress from github
- disconnected my printer from Wifi, looked for my USB printer connector to print the paper wallets
- did all transfers from the bitcoin exchange to my paper wallet via Tails Live USB in case my windows PC has some sort of bitcoin stealing malware
- store my paper wallet never to be used until the day I decide to cash out
- all this on top of having to join an exchange in the first place
You can say that there's a similar 'bottleneck' with banks - that they also verify your details - but for banks, most working people already have them set uo to get their salary.
OR I can ignore and just use wallets as normal, but just read the internet and all those warnings are always there.
I also invest in stocks/funds using an online broker, using my home/work PC and my phone. I never had to worry about all these "offline transactions/offline storage/needing LiveUSB" with PayPal or CC.
If I ever have my CC get stolen and used illegally I can revert them with my bank.
My PayPal that I used for eBay buyers that sent me wrong / broken products I've gotten my money back.
My money is safely stored with my bank - yeah there's a small possibility banks can close but some of my money is insured.
So for the near future, I will keep using PayPal / CC and just use bitcoin as an investment (again in a paper wallet generated via Tails LiveUSB while offline - printed with an offline printer and stored several copies around like the days before the Internet was invented).
The way you use bitcoins totally depends on you, you said you're a programmer and totally comfortable with technology and then you said you found this Live cd, Cold storage & Printing Wallet stuffs awful! I mean why on this earth you'll find them boring if you really like technology? There's a project called bitsquare which is a P2P based decentralized exchanging platform, you could've used that. Even you can contribute to make it better as you've said you're a devop and comfortable with technology. That way you can make sure you will not loose your bitcoins on any centralized exchange. To start trading with forex/stocks you need to go through tedious ways, you know what I mean those verification stuffs and bla bla. But to start trading on bitcoin you don't need any of that, even you won't need a broker. Almost in every country if you'll buy bitcoins with CC/Paypal then you need to verify your identity this is to prevent fraud such as charge back or usage of stolen CC. But you can use Localbitcoins to buy bitcoins with cash without the need of identity verification. I'm sure you've not heard about multisig escrow, otherwise you wouldn't have mentioned of money back policy with the ebay and paypal. Your bitcoins are even secure with hard wallet such as PI wallet or if you really are a tech savvy then you can build your own secure environment to store your coins securely. The great thing about bitcoin is it's decentralized but your fiat isn't. Bitcoin is growing just let it grow.... |
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they are dead on this thread so don't bother.
Yeah it seems so, even the campaign got a * mark here at https://bitcointalk.org/index.php?topic=615953.0. So I'm gonna wait one more day and if they'll not update their google doc then I'll remove my signature. |
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Well, I guess halving actually happening, prices are rising very quickly and becomes high quickly. the price will soon be $ 800, I hope this will last forever  Halving will be happening at the 2nd week of July, As of $800, it might take a few more days to hit that as the price is stuck between $730 - $760 for a day. |
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Count me in too..
Username: BitAficionado
Posts: 26
Activity: 14
Rank: Newbie
Bitcoin Address:1Ng4cCKWhqZAnfPbuEgy1NryGeVxfShLSi
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It belongs here, not the speculation section.I was always selling during this fake pump (you really never know when it ends) and will be more as it goes up and I'm not re-buying later even if price goes below $200. I won't regret even if it goes above $1000 someday when I sold two times cheaper. I think it was the last big pump we could ever see. Someone might say that "I lost faith" but there should be no faith, common sense should be. Let's be frankly. Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains. Normal people will never use Bitcoin. They simply don't need it. This means that bitcoin won't go mainstream and price won't get that high. Just think how the US government/JP Morgan/BoFA will adapt a currency which majority of emission is held by some kids and cryptopunks. Also 1/21 of coins is held by some anon who calls himself "Satoshi". This is no serious. This is fucking ridiculous. Comparing bitcoin capitalization with gold's is fucking ridiculous, too. Gold has got history of thousands of years and a lot of applications. Meanwhile Bitcoin is just a virtual asset that's been known for about 7 years and has got very poor applications. What is worse is that bitcoin is not really scalable. Again. Comparing bitcoin capitalization with facebook's is even more ridiculous. Facebook is a large company that connects the entire planet. Holding Facebook stocks generates huge revenues. Meanwhile BTC is just a speculative virtual asset. Not scalable. Old. Always bloating. Not stable. It's even not decentralized! Also, such a risk as banning Bitcoin in many countries must be considered. First of all, in China. Chinese government is a totalitarian one and they will finally ban bitcoin if it becomes a problem for them. Just like here, in Russia. European Union will likely ban using of bitcoin someday "to stop ISIS/terrorism financing". The US is not the world. The rest are weak/poor/small countries. What about the upcoming block halving - price went down when the Litecoin halving happened. Expect the same when the Bitcoin's happens. Don't put into this hype or you will most likely be eaten by whales. This all doesn't mean the whole crypto scene is doomed. No, absolutely not. I'm sure we will see new much better truly decentralized applications in the near future that will dominate/replace bitcoin. And not just bitcoin. TLDR: Sell out your BTC; don't rebuy it. Invest in other blockchains. Also, don't get fooled by the "hodl" propaganda that makes you never get a profit while whales do because YOU buy&hold. Quoting for future reference, in case OP comes back to edit his thread. Last time he was around it was april 17th. I guess he is now feeling like a complete moron. Well, that's the destiny of every Bitcoin dumper ever. Buy and hold or cry later is a law now. OP's profile name says it all, indeed he's a greedy kid, he dumped his bitcoins for a bit of profit & now he's regretting though he said he won't but I'm damn sure he's. OP and those who lost their faith in btc deserves it. |
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Well a few days back I thought the future of Ethereum is still in question, but not anymore it's a sure death. Good bye ETH.
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Do you guys think the price will dip before hitting $1,000 (which seems like it'll happen without a doubt, considering the recent price trend) ?
No, as hype keep on increasing and spreading around bitcoin community, the price will continue to soar til July(where we expect the halving will happen) after the halving thats the time I think the price fall down drastically. Yes, the price will drastically fall down if there'll be less demand of bitcoin. But I don't think demand will be less in near future. After the halving few miners will move away from mining and those who'll mine will not dump. But somehow if anything worse will happen as we've seen back in 2013, the price will fall down even might hit below $300. If miners will not dump their coin after quitting mining when halving ends how do they stay in bitcoin? What would be their way to profit? I bit agree on what you said that demand on bitcoin will not decrease that much because we can see different site that use to buy bitcoin. You kind of got my point wrong or I made a mistake in explaining it properly. What I said that those who'll quit mining after halving will probably not dump for cheap but those who'll still mine will surely not dump for cheap. |
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I think that there is no reason to dump your Bitcoins you can just sell them and make your money and then quit with Bitcoin because then you have made some with it. Other wise you will leave empty handed.
If you dump your bitcoins right now you will even make profit but the fact is if you now hold them longer you will make much more profit in the overall experience due to the halving. Yeah like the Norwegian man who bought few dollars of bitcoin(probably $20-30$, can't remember exactly) and in 2013 it filled his account with around $800,000(probably read this news on theguardian). So the thing is hold as much as you can and you never know one day it might make you a millionaire. |
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Do you guys think the price will dip before hitting $1,000 (which seems like it'll happen without a doubt, considering the recent price trend) ?
No, as hype keep on increasing and spreading around bitcoin community, the price will continue to soar til July(where we expect the halving will happen) after the halving thats the time I think the price fall down drastically. Yes, the price will drastically fall down if there'll be less demand of bitcoin. But I don't think demand will be less in near future. After the halving few miners will move away from mining and those who'll mine will not dump. But somehow if anything worse will happen as we've seen back in 2013, the price will fall down even might hit below $300. |
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$740 right now. Btw, what's halving? (Is it holding?)
No it's not holding at all. Halving is the period of time when mining reward gets divided by 2, as of current reward 25 which will be 25/2=12.5 after halving. Instead of getting my question solved, I find it difficult and I'm more confused now  Well if you can't figure out the basic math then I can't do pretty much anything about it. You asked what's halving and I gave you the answer. But one thing for sure trading isn't for you at this stage. BTW don't be confused and use google.  Na na, I wasn't complaining about your explanation, whatever you explaining is clear. But I'm just knew and didn't get it. It's alright, I got that. We're here to help and communicate with each other. So feel free to ask questions if you've. |
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$740 right now. Btw, what's halving? (Is it holding?)
No it's not holding at all. Halving is the period of time when mining reward gets divided by 2, as of current reward 25 which will be 25/2=12.5 after halving. Instead of getting my question solved, I find it difficult and I'm more confused now Well if you can't figure out the basic math then I can't do pretty much anything about it. You asked what's halving and I gave you the answer. But one thing for sure trading isn't for you at this stage. BTW don't be confused and use google. |
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Grammatically 10 bitcoins is correct, however there's nothing wrong if one says 10 bitcoin cause he's actually indicating how much bitcoin he's talking about. So both are correct.
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Surely, bitcoin makes trading easier for life. Unlike traditional forex it doesn't involve tedious ways to get started. Thus it brings the opportunity to make a decent profit.
Was going to say nah until I read this. Looking back, i agree. I remember a starting out with various types of traditional finance accounts, it was always a pain in the ass. Ridiculous amounts of identity verification, steep account minimums, and very low rates of return, even on successful trades. Then I found crypto stocks, the neobees and asicminers of yesteryear. No account minimums, damn near free trading commissions, no kyc, it was a beautiful thing. This way how trading was supposed to be. Then I got burned a few times, and realized why the SEC is a good thing Oh man, you got burned! But how exactly? Did you hold your altcoins for too long or did you invest in cloud mining or on an exchange that ran off? Will you please share, I mean it'll be good for us to know. |
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For most people bitcoin seems to be dangerous. It's online money and people don't fully understand or trust online.
Think about the hacks/ criminals that happen. Most people are just scared.
Half true. Some think that way. But some goes to the internet to enjoy it. They dont want anything to do with another work. They think internet is just for that. Fun and knowledge not working again. The fact is people hesitate in investing their money into something they really don't know as they have fear of loosing their money and may that is the reason they prefer to stay away from it. yeah it's true the lack of knowledge is what keeping them away. They don't know what bitcoin really is, that's why they're staying away. but the good thing is nowadays more more people showing their interest in bitcoin and the day will come when even the smallest shop in the corner of a street will accept bitcoin. |
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Trading is surely a great idea. But without experience you can get lost. The thing is crypto currency trading is really easy to get started with, but lack of knowledge is what makes trading worse. One little advice, do not hold altcoins for long, you'll only end up losing money in that way. Btw I'm a devop(PHP & Python) also and trading is something that I like. Good luck, I hope you'll enjoy your journey over the crypto currecy world.
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Surely, bitcoin makes trading easier for life. Unlike traditional forex it doesn't involve tedious ways to get started. Thus it brings the opportunity to make a decent profit.
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Do you guys think the price will dip before hitting $1,000 (which seems like it'll happen without a doubt, considering the recent price trend) ?
I think it'll not. To me, the market is normal and all the indications are towards the growth. So it might hit $1000 in near future. |
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what!?!? Started pump&dump or started natural growth??
This day the price of bitcoin is 727$ as of now, So its better to save bitcoins now, Just dont spend it. The price has been increased to $750 in the last few minutes. I just got up and a good surprise just happened The halving is comming but i think the price is being increased much more before the halving rather than after the halving. With the last trending price will reach $1k at the end of this year. It might hit around 900 within a day or two. Keep an eye on the coinmarketcap and ride along with it. The thing that makes bitcoin interesting to traders is its volatility and that's what making it more valuable day by day. yeah i also think we will touch 1000 or so, and it will fall next to 900, i'm following the price quite closely to see any big movement, in case i miss some trade opportunity but it's better to hold now great profit for holder, in the future Holding is really good at a moment as price is rising and we can expect very high price at the time of halving, so selling at that point can be really profitable. It will only be profitable if bitcoin price during halving still.increasing.. but what if ,when halving starts thats the time bitcoin price collapse? If the price of bitcoin will collapse, it'll rise up again. Those who're holding bitcoins are longterm investors and that's good cause they can hold as long as they want to make decent profit out of it, beside that daily traders are also interested for its volatility. So bitcoin will never be collapsed forever. How you sure that bitcoin will never be collapsed forever honestly bitcoin is always depends in demand and supply.. so there is no sureness if the price will stay at the high price.. there is still possibility that the price will colapse anytime.. I guess my points are still unclear to you. Yeah you're right price can be collapsed at any time and bitcoin depends on demand and supply, that's not what I've indicated on my earlier post? More & more investors doesn't matter longterm or short-term are joining this bitcoin game, so isn't the demand rising? It's already widely accepted and day by day gaining more popularity, so the market is slowly becoming liquid. As of supply we already got a decent amount with us. So if the price will collapse it'll rise up again as we've seen it already. |
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