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There should be a list or a new thread created that has one specific answer to all those over-flooded topics and the questions asked should be kind of restricted to be asked in the forum. What this will do is create more topics from which one can actually gain some knowledge rather than reading shitposts. There should also be a limit on the number of replies allowed which the OP of the topic can choose while starting the topic and on receiving the perfect or satisfactory answer maybe the OP should reward a sMerit to it.
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This only holds true for promising coins with good concept and products. There are a lot of shitcoins which ultimately are only good for short-term investment or day trading. HOLD is only profitable and fruitful when the coin you're holding has the essentials to reach the moon.
The coins Tron, Ox, Cardano are some good potential alts which you should know more about!
And about the dumps, yes there are manipulations connected with the whales in the market and holding should be preferred!
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Instant transactions and low transaction fee are the main criteria for bitcoin to be widely accepted as a replacement of fiat for daily use and resulting in the increase in the chances of survival of bitcoin. These criteria can be achieved by more efficient mining Russia encouraging miners by making tax free mining areas will have a huge impact on its usage. To make mining more cheap and efficient it should be done in cold places to prevent overheating of machines reducing the cost of cooling machines for the mining machines.
Samsung has initiated mining through smartphone will surely affect in mining and advancements in it might also make cheap and low energy-consuming BITCOIN mining through smartphones possible.
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BTC being concentrated in just a few people might seem like an issue, but it also backs up the volatile price of it by keeping a specific amount in circulation and prevent a severe drop from dumps. The fiat system with banks definitely needed to be updated or completely changed the control over own wealth wasn't possible through it.
There is a disproportionate distribution of wealth in fiat system and as well as in btc but at least we have control on our own wealth here.
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Ethereum has outlined the ERC20 protocol for its tokens to follow. The ERC20 tokens usually don't have their own blockchain as the whole idea of the ethereums ERC20 tokens is to prevent time loss by creating a new blockchain and utilize it for improving your project.
But it is technically possible to transfer the ERC20 tokens from ethereum to another chain which will create an issue of ownership (which does have a solution).
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Saving bitcoin as a future investment is definitely profitable as its volatile price might make you good money and it is possible that it totally eradicates the fiat which won't be happening anytime soon but it is possible. As reaching 20k wasn't predicted but that did happen, right? So just stay positive and hope for good. But if you want to sell all you bitcoins with full consent and not regret later if it ever reaches greater heights, you'll not be stopped but hodling is advised.
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It is technically controlled by the bitcoin community, the people who use bitcoin, mine it, trade it and believe in its future.
Trader make transactions of Bitcoin and Miners help these transactions of bitcoin possible and easy and the believers of bitcoin just hodl it!
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What affects me the most while paying with bitcoin is its transaction fee. There have been numerous past incidents where I had allocated specific amount of btc to purchase a RAM that I wanted and I waited for the fee to fall and when it actually did I assumed it would be low for long and delayed paying for my RAM and thats when i realise its transaction fee is way higher volatile than bitcoins value itself.
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I actually have never invested a penny of fiat in any crypto. I did some freelance work for which I got paid in btc and from then I started digging more into it and now I'm here, EARNING bitcoins rather than putting my own money in it. It's not that I don't believe in bitcoin it's just that I'm not willing to lose any of my earnings, be it in saving and growing it in the form of bitcoin! So, I just prefer earning it in my free time in any legal way possible.
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Investors, Community, Team, Concept. Every factor stated does affect a coins price as all these factors decide its fate whether it'll stand strong in the market or just be another unknown project. If there are a lot of investors but the community or team is bad, it'll soon demolish same goes for all other factors, you cannot have only one thing great you should have everything at least good the start and wait as great things take time.
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Bitcoin as the main income is not a brilliant idea. It sure will create more job opportunities like an escrow to distribute salary according to on that times value but its cons are it is volatile and what if bitcoins value drops after the employees receive their payment or anything else worse. It cannot be considered as a completely reliable payment option.
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Hodling btc for around a couple of years is what I plan on doing. It' highly volatile as for now and I'm waiting for the time it stabilizes and achieves the support it needs and getting the support from everyone, the people, the government which it truly deserves.
Trading it or converting it in fiat would just be foolish step which I'd suggest avoiding!
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There are a lot of people in my country who live below the poverty line. I'd like to start a blockchain company which will hire these particular people and give them required basic training and knowledge before hiring and utilizes these people to improve the blockchain in any possible way they are able to.
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You mean have total control over your own belonging? If that makes me an idealist then I'd love to be that or anything until I'm given control over what is mine.
It might be an issue for some people by them spending too much as no one else would control them but the majority needs that control.
And yeah, My government and all the banks here don't allow me to purchase crypto with their card, so they kind if intervene.
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I'm planning on hodling it for long, but the profits I'd get whenever btc would pump, I'll use it for investing in some other potential altcoins. I'll hodl the altcoins for like a month and at least gain 5% profit on my initial investment in that altcoin and wait for btc to dump then invest in btc agian.
Basically, I'd like to grow my btc capital!
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Have a part invested in BTC, only the amount you'd not be sad about losing and won't be needing anytime soon. And if you're planning on investing in real estate then just be completely thorough with your decision by knowing everything about the company and their past.Putting money in trading or real estate or any other thing, always research as much as you can and be confident that your money is going in the right place.
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Firstly read the complete whitepaper and decide for yourself whether you find it legit or not. The signs in the whitepaper of a scam could be- - Too promising
- Fake staff enrolled (I once saw Ryan Gosling as the ceo of a project.)
- Roadmap not practical.
And things like these. Just research and find for yourself by communicating the team and having a word with dev, You'd eventually get to know by their response whether they're professional or not which will give you an idea about the project's future. |
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The day when the transaction fee is closer to zero and the transaction is fast. That's when people might start even thinking bitcoin for daily use.
Then comes the factor whether the government would allow it or not.
If the government would allow using bitcoin as a normal currency then there'll be offers along with the payment with bitcoin, like pay with btc and a small coffee free or something like that which will encourage people to use it more often.
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