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That's just how the cycle goes though every year. New exposure, new news, new investors, new money from the outside, all time high. And when another year starts, Bitcoin would plunged again to the bottom just like that. If you think about it, it's so scary but it's heaven for early investors. I think this year we would have another all time high at Q4. A lot of things are going to happen and all those deserving altcoins would start to flourish there. Let's hope it happens.
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That's just how this cryptocurrency works. It has become an investment all this years and that people tend to put their trust into a coin to gain some profit. Only few understand what's its purpose. Since January, Bitcoin has plunged so hard till $5,000. It's a good thing that all this weak hands has left the game. Holders like us would be able to buy another dip. But Bitcoin is becoming business. Once people see profit, they would grab it, specially those whales which creates panic.
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What are you saying dude. Just look at the market capitalization. Ethereum is in top 2 and that its price is quite expensive compared to other coins. If you compare the price of Bitcoin to Ethereum, it would seemed that Ethereum's price but its because Bitcoin is the first cryptocurrency ever created and use and that it has been around more than Ethereum. Also Bitcoin's supply is limited compared to Ethereum. Don't look at the price, look at the market capitalization.
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Technically they are correct at some point as Bitcoin hasn't gone into a legality in the entire globe. I wouldn't really care much about them because Bitcoin has flourish all this years even thought this bias medias are spreading FUD everywhere calling Bitcoin "pyramid scheme" "Bubble" "scam" but they've proven nothing. They are only predicting which we all do to be honest. But If a person calls Bitcoin illegal in my face, then I would prove them wrong as we have our own local exchange and local stores that accepts Bitcoin legally here.
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There are many factors but I would list those who are very important when choosing a good ICO to participate. This is what I check whenever I participate in an ICO. I hope this helps you.
* Check the Team - You should research whether the team is fake or not because most ICOs today are fake projects who have fake teams. Check everyone's background and visit their social medias.
*. Read the whitepaper - It says everything in here. You will know every plan that they have and all the information that you might need. Make sure it's legit.
* The company - Check if the company is legit. Check it's background and all the past works.
* Visit the projects social medias - If they are active and that they are always listening to the community, their's a chance that they are legit.
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Sadly, you are right. Bitcoin's purpose cannot be the official global currency of the whole world because Bitcoin cannot be controlled by anyone and that it's price tend to fluctuate so much in a short period of time. But as we can see, Bitcoin is starting to get popular even around teens and parents. In no time Bitcoin would be a currency that would use by people for buying and transacting money even though it won't be an official currency. It can still be a currency that would change the world.
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I can also see that another bull run would occur this late 2018 and Bitcoin's price would surge high again. But to be able to do that, we need something like a new development or a positive news that would make people feel fear of missing out again just like last year. If ETF accepts bitcoin, that would mean another big thing to Bitcoin and would surely help Bitcoin's price to grow significantly.
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Well, it really depends on where'd you invest it and when. There are so called pump and dump signals where this groups tend to signal the whole community to shill a particular coin and pump it to its all time high. If you are lucky enough, then maybe you could get rich in one night. I had this experience one time before where mcafee read whitepapers and pump the price of it after announcing. With the right time and right coin, I got into the train fast enough and got out with some profit. So yeah, sometimes crypto does give some riches overnight.
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I completely agree with you, but after the sudden rise of Bitcoin's price in the market, has been known as one of profitable high risk, high reward investment in the internet and that people started calling it as an asset. Since then, all this medias has had a bad image for Bitcoin calling it a bubble and a scam which in fact it is not a business or an asset to invest to begin with. I think people will continue to see this as an investment because investors are giving them hope and an image.
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I only know one country that has regulated Bitcoin in some way and that is Philippines. You can legally trade cryptocurrency here now and that there are legal exchanges that allows investors to invest in Bitcoin and some known cryptocurrency. I'm actually from the Philippines and I can say that the market here is great. Well, only a portion of our population here knows Bitcoin but it is being traded now in local stores and some machines here. I think in the near future, more and more countries will legalized Bitcoin.
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You might have seen that most people see cryptocurrency as an asset for making a profit. Cryptocurrency has markets would let you sell and buy and that it is connected into real fiats that we are using in the real world. Peopl sell coins because they've reach their profit point and that they want to cash that out as soon as possible because cryptocurrency market is highly volatile. Not all coins last long enough. Most of them just die out and if you didn't sell them, you will lose profit. Buy low, sell high.
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If physically secure means that I'm keeping my coins into a wallet that is not online, then I would say I'm physically secured. I know the risk and the gable that I would take If I use online wallets and exchanges to store value because it can be prone to hackers. Hackers are getting smarter nowadays and could bypass even the best security that they could offer. Well, I still have a portion of my coins to an exchange though for trading purposes but that's it.
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I do not think that zero free transaction would be possible with Bitcoin transaction because it depends on the miners. The higher the fee that you give, higher that chance that it will be pick by a miner. If you send a large amount of Bitcoin using only 1 sat, then you would never be able to send that because there are a lot of transaction that has a higher fee and miners would prioritized this transactions instead of yours. I do believe that instant transaction does exist. Just look at RaiBlocks which is now called NANO.
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That's the common problem of the people, once they see that something is in trending, they would jump just because a lot of people are spreading FOMO about it without even trying to do some proper research. They see Bitcoin as an investment to gain a lot of money and not a technology that would change a life of the masses. It's really annoying sometimes because they blame it in Bitcoin. Let's just hope that in the next bull run, people are well informed of what they are trying to join.
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I agree in what you've said that people creates fake hope that Bitcoin would replace a fiat currency of country. I also agree that Bitcoin has achieved something that it was intended to do. Because of Bitcoin, a part of the economy has changed. I know that Bitcoin will never replace our current currency because it has so many flaws that could not be fix. But I know that in the near future, a new cryptocurrency would be created to surpass Bitcoin and be the cryptocurrency that the people want.
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I can see that you are aware that you could earn some money here. There are actually a lot of ways for you to earn some bucks here, you just need to read a lot and learn the ways. Like for example your signature space. Almost all projects hire members of the Bitcointalk community to promote their project using your signature space like you are doing right now. If you have social medias, then probably you could do some minor promotions of a project which is a bounty. If you have the skills to do something, then you probably should do freelancing in some of the platforms in the internet like UPwork.
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