Something around one year ago, when i started using bitcoins, I bought one to get something in the halving. I got some profit, but I should have bought some more coins.
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I'm buying it mostly for investment purposes, as I believe that the price may reach higher levels in the future, which can give me best returns on my investments.
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Well there is many proof of alot of them being ponzi schemes, yet they seem to florish for several months/years. One can't be sure untill the site collapses, but with some effort you can always see the signs if it is a scam.
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I think altcoins trading has potential to bring in more profit, if you glue your eyes to the charts to know when to make your move. You can store your profits as monero or any other long term altcoin that will appreciate in price with time.
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I think it already is. You can buy any other currency with bitcoin anyway so it's an international currency, If you meant as the official currency of a country or the like then it would take sometime for a move like that to happen.
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In my case, when I'm buying bitcoins I just hold it and wait for the price increase or use it to buy stuffs online or use it as payment in service. And I think that's the reason why people bought some of the bitcoins.
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A major problem in using bitcoin is in price instability, this is factor that is stopping many companies and big investors to use bitcoin. If the price becomes stable then more players will join bitcoin.
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Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.
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If you're planning on investing them primarily, consider to hold some of your coins in your wallet and wait for the prices to rise, but would take a couple of years for a very significant increase, probably.
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There's no method that you can use to consistently make profit because sometimes trading is, just like you said, unpredictable. You should not trade more money than you can afford to lose, and that's the reason.
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With the latest technologies appearing, I would say Bitcoin has a great, great potential. I only wish everywhere around the world you could pay with Bitcoin and see "Bitcoin Accepted Here" signs like there are with PayPal or Visa. It's becoming stronger and stronger because people keep coming into this business so we're building right now a huge community.
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No doubt that Chinese have a big market than most of us here, but still they cannot control bitcoins as there are many whales from other countries who can still stabilize the situations that might occur due to the Chineses.
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I panic bought some at 26.5k, lol Let's see how low it can go before filling another basket.
When this project takes off, you'll be kicking yourself for not having bought more @ 26.5. I bought more at 26k, so I hope you're right about it.
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Actually there are lots of time to reach that goal. Bitcoin won't be gone tomorrow or something, and it is here to stay for many decades, or even centuries, as long as the community have faith in it and keep using it.
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Well, with the current fluctuated condition, and sometimes also considerable downtrend, I don't think it is a very good idea. But I believe this will find its place in near future.
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Doubling bitcoin is not very easy, in fact, and it will certainly require a lot of expertise from you to do such a thing. Most of investments are all bad, and with low paying interest rates, so it's required to choose the right investments carefully.
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Actually it is not very popular here at all, unfortunately a low number of people is talking about it or using it here. I hope things change in the future.
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If you have experience, maybe try out in the lending board is something that may help. You can lend it using collateral, to have a safer process. Try to get as much knowledge as you can before proceeding with it.
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It will depend, of course, of the price. I buy sometimes when the price is low and if I have available money to spend it on Bitcoins. If the two factors are good enough, then I can afford to buy some coins.
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My prediction is somehow simple, I think that soon more and more people and countries will accept it, so that means that the price can gain some positive traction, making the currency appreciate. After that, with more liquidity in the market, there will be more stability in price.
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