why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
Because if you will look at the charts of history of bitcoin. You will see the positive progress of it with its ups and down, in the end the price keeps on increasing. That's why if you bought bitcoin at $1,000 then you did nothing but hold it and the price reached $1,500 then you got $500 profit. |
|
|
|
It is already a international currency as majority of people across the globe are using it, the only thing we need is that it should hit the mainstream to get more popular in future.
Do you even know what you are saying? Do you know the meaning of majority??? Majority means more than 50% and I am willing to bet with you that wayyyy less than 50% of people across the globe use bitcoin. Bitcoin is not an international currency as it is not recognized as such my almost all sovereign states. Sad to say but that's the reality that the total percentage of bitcoin users aren't even acrossing to 50%. I don't even think that we are already 10% in total. Though bitcoin is a good crypto currency and its popularity is increasing too fast. But it is good to be considered as international currency for all of us who are using it. |
|
|
|
|
I'm not familiar with most of the wallets on the list. I'm familiar with a few ones like electrum. But I do prefer to use wallet with blockchain.info and xapo. Of the time I've been using blockchain.info though the forum recommending and advertising bitcoin core. Its just a matter of confidence and convenience.
|
|
|
|
We several things that we can do to our bitcoin. If you had it already you can keep and hold the 50% of your bitcoinBTC, then the rest of it you can use it to buy some other altcoin where you can trade it too or do the same things to hold them also like what you are going to do with BTC.
Well for me its better to save your bitcoins without certain percentage. Just hold it out until you don't need to spend some. But when the times of need comes, then just use and spend it so that you can now have the benefits of having a bitcoin. So that will really depend on how you'll use it but that's what I'm doing and its effective. |
|
|
|
|
Upon waiting the result I really don't care at all but I know the advantage if that will be approved. But I don't want to disappoint myself by waiting the result as a positive one. There are more good news to come this isn't a big deal at all.
|
|
|
|
|
Well another newbie that wants to add something to the garbage of coins. Don't think that many are discouraging you here but that's the sad fact there a lot of newbies asking "how to create an alt coin". And as you said that you're not a developer, then just hire someone to do the coding's for you.
|
|
|
|
Too bad I feel sorry on saying this that western union is still better than bitcoin nowadays. Because they had a lot of customers throughout the world and those people doesn't have any knowledge when it comes to bitcoin or crypto currency. But I know one day they will be informed about bitcoin and will even try to use it for remittances.
As you said and I could conclude that western union have many customers because of many people still lack knowledge of bitcoin, but, it's have nothing to do with whether which one of bitcoin and WU is better. There's many services out there that poorly offered and have many customers meanwhile there's good services that only having low customers also exist, the amount of customers have nothing to do with the quality of the service providers. People are comparing almost everything with bitcoin. And expect to see more comparison about bitcoin vs everything. But when it comes to service I do love both, I've got relatives that doesn't have knowledge with bitcoin and I don't have choice but to use WU when remitting and receiving money from abroad. Yes me too. My relatives and friends that are used to send me or send them using Western Union are ok with them even though the charge are big. I already told me that the fee's are really huge and they should change the payment by using bitcoin. But I guess they don't to used bitcoin because they heard that bitcoin are used for dark webs so I don't force them anymore. The most important thing for them is that the money went to my account without hassle on their side. But from time to time, I tell them all about bitcoin and hope they chance their mind. Remember they are a remittance center, if they will use bitcoin as a method of payment then they are just dragging themselves into the hole where they digged it alone. Lol, why are you guessing that they aren't using bitcoin, of course they don't because they are a remittance center of fiat. |
|
|
|
It's funny that people can't move on about the rejection of ETF
and none of them ever matter! Well yeah that's true, it may do good and contribute with the adoption of bitcoin and as well its price. But the reality people are forgetting that bitcoin can stand alone and with our support it is what it is since from the beginning, they need it to remember that. |
|
|
|
|
It's funny that people can't move on about the rejection of ETF and doesn't recognize and realize that bitcoin did never got some help from any approvals to make it far to $1k+. Well if that will be approved that like you had said, it will give us a good advantage for the price to keep increasing but if it doesn't then it's very simple that there's nothing that will happen. Feeling sorry for those panic sellers.
|
|
|
|
I think Coinbase is the only online wallet not charging any fees. I guess they make their money from people buying and selling. I wonder if it can come too a point where supporting all the fees can be so huge for them. Pretty sure it will change soon or later
They are not the only that doesn't charge fees but xapo is another online wallet that doesn't charge fees only if your transaction is not small. Because their regulation is that they will be charging small transactions but I guess it is just applicable for faucet claimers. It's indicated in their site. https://in.xapo.com/fees/ |
|
|
|
Too bad I feel sorry on saying this that western union is still better than bitcoin nowadays. Because they had a lot of customers throughout the world and those people doesn't have any knowledge when it comes to bitcoin or crypto currency. But I know one day they will be informed about bitcoin and will even try to use it for remittances.
As you said and I could conclude that western union have many customers because of many people still lack knowledge of bitcoin, but, it's have nothing to do with whether which one of bitcoin and WU is better. There's many services out there that poorly offered and have many customers meanwhile there's good services that only having low customers also exist, the amount of customers have nothing to do with the quality of the service providers. People are comparing almost everything with bitcoin. And expect to see more comparison about bitcoin vs everything. But when it comes to service I do love both, I've got relatives that doesn't have knowledge with bitcoin and I don't have choice but to use WU when remitting and receiving money from abroad. |
|
|
|
What is wrong with those selling idiots? Why we have panic selling when ETF was never even close to being accepted? Are they stupid? Bitcoin holders & traders never cease to amaze me, this community is build on unrealistic expectations and wishful thinking. Well that's just a normal thing when a fud spreads throughout the bitcoin economy. People especially those small time traders will follow those traders and speculators that says we need to sell. It's a matter of pump and dump groups and they are for the profit. But just don't follow those people that are mistakenly lead with false speculations. |
|
|
|
Hi,
Not sure if it is for this toipc, please move it if needed. As the title says, I want to put $2k in something new, not buying coins, I have them in btc.
If you don't want to buy a coin then you can try to rely on lending section and start up your own lending service though this is risky. What can be the best ROI and most secure way?
I can only think of the most secure way is just letting your capital at your own wallet. What you will do if you have additional 2k?
Thanks
If do have this amount then I will diversify it will trading, holding and with bankroll casino's. |
|
|
|
If no one spends bitcoin then its price will be stable or it will be low. But, people nowadays wants a favorable and convenient transaction which bitcoin can offer. So there will always be high demand for bitcoin.
If won't be stable since no one spends bitcoin then probably the next thing that will happen is that. It will be down to no value, we are just looking for the possible thing that will happen if no one will use it, no users = no demand .That's why it will be dead very soon. At any instance there will be small group of people using bitcoin. Such a situation with no users causing zero demand for bitcoin won't prevail. Bitcoin is the advanced innovation in financial system, but now the technology behind it has gained more importance and getting served througho. So bitcoin usage will increase rather than decreasing. We are just assuming and I know that this is not going to happen at all. But if we will look at this situation I really can see that if there's zero demand, there were people that will try to do something to make this on hype again. Oh well, let's get back to reality if bitcoin will not be used, then there's another coin that we'll be using. |
|
|
|
Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.
Well if that is the case then those coins are lost forever. It will be called as 'burnt bitcoins' and those will remain there forever. But just like what others said, you can use recover password. It's up to that wallet provider if they will do something about those coins but if someone find it out, they will lose their credibility. You can forgot password to recover your account. However if there is no other way to have access on it, I think the BTC will stay forever unless the owner or administrator is aware on how to get it. That's why bitcoin is decreasing because we consider it as lost.
He said that losing access to that online wallet in any way. |
|
|
|
Why does everyone think you only need skills on the Internet to make money?
They are preferring to programming skills, designing skills and other skills that can be applicable to become employed on internet. But you are right with it, skills isn't the only basis to make money online, knowledge is a must and as well as pocket money. Can you wash dishes? Can you scrub floors? That's a way to make bitcoins also. I would hope most people know how to do such things.
I got your point here but skills is not just all about washing dishes, it must be computer, bitcoin and internet related. |
|
|
|
Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed
Just telling you, don't waste your time posting a thread on tech problems section
Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)
You delvs didn't trough this could happend if the bitcoins went up the market?
Yeah, but good thing that I cashed out my bitcoins earlier haha.
I personally don't experienced that I had to pay the fee reaching $1, it's a fact. Most of the time I just need to pay cents of dollar for my transactions. And comparing bitcoin to paypal is really crazy they are actually different on aspects and service. And don't believe that only transactions higher than 0.01 BTC will be the ones that will gets confirmation, it's just a matter of network traffic. Agree with you, bitcoin is a currency and paypal in my knowledge not a currency but place save and send money. So sure enough we can not compare them. I personally have never paid more than $ 1 fee. I also had some dealings with the confirmation process is quite long, but for some transactions with the same amount of bitcoin I get a quick confirmation process. So really I think depending on network traffic at the time we send bitcoin. Thank you It's a payment processor and it's like the wallet of dollar. OP is just assuming that bitcoin will be the same like PayPal because of the fees and as well as the delay of confirmation. But I don't really see that it should be hated, maybe there are people that really wants to make their transaction confirmed immediately but because of it they are annoyed. |
|
|
|
I believe bitcoin even have a future even its price is speculative many users are still into bitcoin. Everyday the demand is increasing and bitcoin is rapidly growing it has a benefits and advantages that users will even used bitcoin daily.
We always see on how bitcoin pump and dump but the best thing about it is that it has a very good future. Because we know that how those early people who bought bitcoin at lower price unexpectedly got thousands of it and manage to hide it for a longer time until today. And that made them from nothing to something, enjoying their patience and belief to the good future of bitcoin. |
|
|
|
|
It will, those small transactions just like what xapo did, they are charging fee for small amount transactions. But still those fees aren't going to make the whole bitcoin economy or itself to be killed with it. In everything that we're doing there's always a fee. Sometimes we just need to wait for it when our transaction isn't confirmed depending on how much we had been charged.
|
|
|
|
|
Show Posts
