No, I don't think it can. Bank has a lot of uses in compare to bitcoin. And banks has very different system than bitcoin.
People have more believe in banking system than bitcoin and there are many people who are still not aware about bitcoin.
Bitcoin has a lot more uses than any bank, just the blockchain technology is so revolutionary that is going to change a lot of things. Right now the only problem with bitcoin is adoption. You are right with it, bitcoin needs more mass adoption but the fact that even though bitcoin has a lot of users already. Many are not going to agree if we are going to make the total phase out of banks. And the government is going to make a lot of complain if their people is not going to use any bank service because of bitcoin, because banks are taxable and bitcoin is not. The government does not have to complain, they just have to ban bitcoin in their country if they want it. That is why banks will not disappear, the government will back and protect them against any threat. |
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I do understand about the transaction fee is less in bitcoins but you miss the very important thing that is safty. If your dealing with a unknow person online then your main priority should be safty of our funds instead of worrying on small fee so when I deal with unknow people then I use paypal to pay them. Bitcoins are very safe but you always need to go through escorw to deal with unknow people.
That is the disadvantage of bitcoin, it is fast and less fee but you need to have an escrow to protect buyers. But if I have to chose between safe but will freeze your account (paypal) and fast, less fees but little bit risky (bitcoin), i'll choose bitcoin all the time. |
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I don't have passive income right now except sig campaign and i earn here approximately of 0.175 bitcoin monthly and that's good rate for me as a student and i don't really know what's next i trade sometimes and i do gambling also but all in all i just holding my coins waiting for the bitcoin increase.
Sig campaign s not really a passive income cause you have to be active and contribute daily in order to get paid. Passive income means running on autopilot and it s really hard to find something like that these days. Yes, find passive income heavier. We need a lot of money initially to then receive a good passive income. I have a passive income - deposit in the bank. But there is very little interest Money on the bank is not a passive income, that is just a saving that earns a very very little interest. Maybe if you have a time deposit on a bank, it earns a little bit higher than the normal savings account. If you get that money and put it in a stock market, then you can say you have a passive income. |
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As a example trading could be a good thing to make a steady income, I think that is one of the best because the others are way more risky too.
I would hold it on this one to be honest.
I disagree, trading can be a great way to make a lot of profits but in no way can be a steady way to earn money, there are going to be good months and there are going to be bas months. This is true if you are very new or have little trading experience. But if you are already a well.experienced trader, you can make trading a steady source of income. If not, you can always supplement your income from other sources like offering services and signature campaigns. |
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It will be incredibly difficult to earn that amount of bitcoins unless you have great experience, skills, and substantial amount of coin already; if you don’t then reaching 1000BTC is close to impossible.
I agree that even equipped with high skill programming, it will take a long way to earn 1000 BTC let alone 100 BTC. But with perseverance and hardwork, coupled with charisma and wisdom, the amount is reachable. Why charisma? You need this to get in big projects aside from the skill and knowledge. Wisdom to know which project is essential to you and will help you reach your 1000 BTC goal. If you are planning to earn that with hard work and your time, even with charisma, it will be very hard. In real life, there are very few millionaire employees. Investors and traders can earn millions easily. I think it is the same in bitcoin economy. If you are one heck of an investor or a trader, then you can easily earn that 1000 bitcoins. Only rich people can afford to hold that high amount in their wallet and its never possible to reach there by only earning them as its seems to be unrealistic amount to hold. You are right even in gambling its not possible to touch this figure because its very high quantity many trying to touch this already defaulted and now living in very bad life its not possible to touch this in trading or gambling Well it’s not possible for most people but if you won the lottery then you could earn that and more, obviously winning the lottery is close to impossible too, but at the same time every week someone wins a big prize playing lottery. Winning the lottery is 1 in a hundred million. You are just wasting your money if you bet ln lottery to get 1000 BTC. Working hard and smart is my best bet to get any amount of money I want. It may take a long time but I know it is possible. |
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You always need to save money even if it is not much because in the long run it can end up as much. what I do is keep track of the things that I need to pay and calculate how much money will be left.
A percentage of that I will save and the rest is for me to spend.
regardless of your income, small or large you will need manage money because it will be very important for your future, I'm sure if you do not have it you're not going to get rich Especially when you have minimal income because you have barely enough fo your needs, and mismanaging your money means sacrificing your needs. If you have bigger income, you can save some for your wants. But until then, prioritize your needs and savings for investment. |
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Anyone here can be the most honest person in the world, if those person became politician you can be sure it will be corrupted, big ammounts of money make anyone go insane and try to get a part of those, loans are something to make to people which you dont know and not all people, because some people do ask the loan just to spend and not willing to repay.
Not all people are not willing to repay they are just loan for emergency and they can pay if they have work.. That is why its risk it is because some people are not willing to pay or they run.. honestly if i had lots of savings i can give loan but for those only have collateral valid no collateral no loans.. Yeah, it is safer to give out loans if you take some collateral so that they are forced to pay and if they do not want to pay, you at least have something in return. Even with friends, especially if the amount is large, you should protect ot with a collateral. |
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Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.
That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well. I do not see how this thing will have a domino effect. If one currency crashes does not mean others will crash as well. Each country have their own economy and reserves. Not all country is dependent on US economy. |
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When trading What Matters More Skills or Luck?
Skills of course. Luck will just make the game easier but the main factor should always be skills. You cannot trade by just relying on luck or you are giving away your money. luck is something that yolo investors depend on. if you're trading wherw you purely depend on the level of experience, and you're able to make profits, then you're doing the right thing where you can call yourself a decent trader. but the major part of the people here depend too much on the luck factor. one day they make profits, the next day it vanishes into hot air. it's because even you have predicted all the possibility and calculate which one is more likely to be happened,you still have the chance to miss,future is unpredictable and so does with trading Of course trading(future) is unpredictable, but we still can try to predict, we can take a look at bitcoin past for example to get idea what might repeat in future As in any investment, past performance does not guarantee future performance. The same with bitcoin. It does not mean if it happens in the past, it will happen again. You should be looking for trends and not on the past.history of bitcoin. |
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I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!
And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far. Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain. It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving. They put their 0.1 BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now. Those who got started with bitcoin last year, like me, is very satisfied with the growth of bitcoin this year. We even hit 800 at one point. Maybe those who started this year are the impatient ones. This long correction phase bores them. I think this is about to end and the price will start to pump as the holidays are fast approaching. |
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bitcoin is an outstanding digital currency. Bitcoin has really great potential, so we must believe in it, believe in its development, and believe in the possibility of making profit, peoples who say that it has no potential are wrong.
People who don't have knowledge of bitcoin will only say those stupid things that bitcoin is dead or don't have potential to grow in future but the existing users are well aware about the qualities that it holds. Sometimes though, people start spreading rumors like bitcoin is going to die or price is going to drop, just so others start dumping their coins making the price lower so that they can actually buy into it for a lower price. It is either you listen to them and become an unbeliever or you let them be and when the price goes down, you take advantage of it and buy more bitcoin. You will take profits if you do the latter. I believe in bitcoin and I will continue to believe even how hard they try to bring bitcoin down. |
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First of all why would you do that? You will need something left for buying your necessities. You dont want to be crying if ever the value of bitcoin suddenly went down. It is an investment not a gamble or a sacrifice.
Some people are really so dumb, that they seriously expect guaranteed returns from a (according to these people) very safe and risk free investment option such as Bitcoin. These people don't know anything about investments as they are just gambling with their entire savings. They should stay far away from any kind of investments. They do not have to be kept away from investing. They just need to be educated on how to properly invest. Investments are needed to have a better future. And if they are investing, then it is a good step. A little financial education for them will help them do better decisions on their investments. |
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Loaning money for example is going to cost you more money so in fact you have to pay for money. But you should only take a loan for something important that you need in live. Do not take a loan if you do not have a good reason to do so.
you may be able to borrow from your friend or relative so it will not be charged. yes you are right, borrow when we have something that is really important. or borrow when we were able to return it. because otherwise, it would be a risk. I had a friend mine and he asked me for help him, i had lended the money and he said would repay on the same week, the result of those were 1 year to repay and just repaid me 80% soo if you do wanna to loose a friend lend money to him or her be sure that it might lead into those. Its better to lend to a random person then a friend. Mixing businesses and friends is always a bad idea, because it will happen what you mentioned in your example, some people will abuse your trust in them and will not fell obligated to pay you back. Yeah, too many relationships ruined by loans not being paid by friends or relatives. It is bad enough they do not pay on time, and sometimes they get angry as well if you force them to pay. So it is betterto avoid lending to friends and relatives. |
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When trading What Matters More Skills or Luck?
Skills of course. Luck will just make the game easier but the main factor should always be skills. You cannot trade by just relying on luck or you are giving away your money. luck is something that yolo investors depend on. if you're trading wherw you purely depend on the level of experience, and you're able to make profits, then you're doing the right thing where you can call yourself a decent trader. but the major part of the people here depend too much on the luck factor. one day they make profits, the next day it vanishes into hot air. it's because even you have predicted all the possibility and calculate which one is more likely to be happened,you still have the chance to miss,future is unpredictable and so does with trading You can still miss in your prediction, that one cannot be removed in trading. But, your skills and experience can make that chance to a minimum. Meaning, you use your skills so that your trades will most likely hit than miss. If you do not have the skills, then you are just relying on chance which is bad for trading. |
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I don't think that I will ever get rich with bitcoins as my income from bitcoin is not too high as my more focus is on my full time job from where I get stable income it assures me security for future.
Whether it is bitcoin or fiat, as long as you focus and do your job well, you will have a bright future with it. I think the recipe to get rich is the same with bitcoin and fiat. If you trust more your full time job to get you a stable financial life, then focus on it. If you have more trust on bitcoin, then focus on earning bitcoin. |
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for me the real passive income come only from real job. salaty in fiat currency it's fixed more stable than salary in bitcoin for sidejob.
so if you want to have passive income, let's get real job.
No, no, passive income only can get from online, like you got active referral under your link that's mean gambling,faucet,online shop,etc. I think not only online, but I think you can get passive income in offline there are many mlm business where if you help sign up you will get a commission continuously if your downline to get new users? I will not invest on MLM, most of them are scams and you cannot earn if you are not on the top of the pyramid or you do not have much downline. It is better to invest on stocks, mutual funds or start your own business. Those are good sources of passive income. |
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Probably the time in which you could get rich overnight with bitcoin is over, right now is the time of steady profits, while that maybe not as exciting it can prove to be incredible profitable in the long run.
I think the key to getting rich in bitcoin is continuing to collect bitcoin from the income you get and store it on a regular basis, consistent with what you're doing, having collected many bitcoin, then sell your bitcoin and you'll get a wealth Yes at this stage we should try to collect as many coins as possible as we never know what price bitcoin will touch in future and if it skyrockets then even descent amount of coins can make us rich in future. the worst scenario in bitcoin are when you have spent a lot of time to collect bitcoin , bu then the price unexpectedly dropped to the lowest , what you gonna do if this worst scenario happened? optimistic are very well okay , but remember don't expect to high as you may get hurt. that is the risk I am willing to take because the opposite of what you said can also be true in the future. There is very little effort to collect or invest on bitcoin but if the price skyrocketed, the return is very high. |
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I see more and more acrticles of bitcoin being used for illegal activities
will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services
to harden the use of illegal , and money laundering
Majority of the member in this industry I know they used their bitcoin for legal purposes including myself of course. Even others are doing something which is not good whether they used it for illegal matters it is their free will to decide what there gonna do to their bitcoin. BItcoin is a tool and can be used both ways, legal or illegal. Just like a gun, it can be used to protect people and can also be used to kill people. The government should not ban bitcoin because it is being used illegally. What they should do is to provide laws that will prevent people using bitcoin for bad things without compromising the good things bitcoin can do. |
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It will be incredibly difficult to earn that amount of bitcoins unless you have great experience, skills, and substantial amount of coin already; if you don’t then reaching 1000BTC is close to impossible.
I agree that even equipped with high skill programming, it will take a long way to earn 1000 BTC let alone 100 BTC. But with perseverance and hardwork, coupled with charisma and wisdom, the amount is reachable. Why charisma? You need this to get in big projects aside from the skill and knowledge. Wisdom to know which project is essential to you and will help you reach your 1000 BTC goal. If you are planning to earn that with hard work and your time, even with charisma, it will be very hard. In real life, there are very few millionaire employees. Investors and traders can earn millions easily. I think it is the same in bitcoin economy. If you are one heck of an investor or a trader, then you can easily earn that 1000 bitcoins. |
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Yeah and many of us thinks that making profits in trading is very easy but the reality is totally different and if you are new to trading then its always good to start with a small capital to minimize risks.
well that's why experted traders always reccommend to start with low amount or even learn about trading fully in some specific site to avoid the lack of knowledge when starting to be a traders,that's such a useful advise while the others only forcing people to do trading even without knowledge And if possible, you should start on practice trading. Just like on forex platforms, there are practice trading accounts that let you practice your techniques and strategies using demo account against live values. Bitcoin trading is just like that, so maybe you can practice there. But if not, you can always start small because in some sites 100K sats is enough to start trading. |
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