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I think when Bitcoin will be approaching the border of the triangle, then probably there will be a temporary manipulation and the course of Bitcoin may drop to the area of 6000. But it will be temporary, and immediately after this growth will follow.
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Ethereum and Bitcoin are cryptocurrencies of different nature. The main task of Ethereum is to act as a platform for creating new projects. But as a means of payment, it is also used. Bitcoin has the main function - the accumulation and storage of capital. They are different, yes.
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To sell or not to sell your coins is a personal matter of every trader. Many who succumbed to the panic and did it - only thanks to such situations will they be able to learn to be more calm with high volatility. I believe that no one has the right to accuse people of what they are.
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Opinions of people - this is a thing that does not affect the essence of the development of cryptocurrency. Each person can have his own opinion, it depends on his awareness, on his level of self-development and even on his political views. But the opinion of one person is not able to qualitatively influence such a large-scale phenomenon as Bitcoin.
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I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. To make miners agree with that solution, they must be compensated for their lost income. More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
I do not quite understand what you are offering. After all, if the miners do not do their job, it will mean that the Bitcoin network will cease to exist. Who will be engaged in finding the next block and how will it be included in the blockchain? How do you think this will happen? |
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Of course, I do not exclude the possibility that somebody will come up with something more interesting than crypto-currencies, but at this stage the crypto-currencies completely and completely allow to solve all the problems connected with the money turnover on the planet.
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The most important reason for which bitcoin you need to buy right now is that it is on the bottom. Below it should not fall any more. But he has very good chances to grow very much.
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Accepting or not accepting crypto currency as a means of payment is a private matter of each separate country. I do not think that this can fundamentally affect the negative side of the financial situation of this country. Cryptocurrency is not all that determines the welfare of the country.
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I have a friend who is interested in getting into bitcoins but he does not have a lot of savings or any major investments. He also has a lot of debts to pay and has an average wage job with a family of 4 to raise. When we were talking yesterday, I thought: who really would benefit the most from investing in bitcoin or cryptocurrency? Can those who are like my friend get into bitcoin even though he has no major investment? Or is bitcoin only for those who can afford it?
To begin with, your friend needs to get some initial investment. But if he is a family man and lives on an ordinary salary, then other than selling his apartment - he can do nothing more. But this is a desperate and risky step. |
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If you follow the precautionary measures, then no one can prove that you own a crypto currency. If only you do not exchange crypto currency for a virtual currency by means of virtual exchangers.
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Take your time now to study how market price moves in the crypto market. I had realize that those market price fall down are perfectly performed so that we can see how much potential profit may get if one will going to invest now. This is just like jumping up high and one must take down to the groud first before opposing the force from the ground to jump up high. I can say that the kick off for crypto market price increase will going to start up soon.
We all hope so, that soon the price of bitcoin will start again, but it does not begin and does not begin. Hope is all that we now have. |
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Trust is always based on something. In this case, the basis of trust in bitcoin is the technology that lies at its core. With technology, everything is still ok. Why should trust change?
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I think the problem that online services such as YouTube - do not accept bitcoin for payment - is too exaggerated. There are so many ways how you can cash out your crypto currency and thus pay for what you need.
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It is necessary to understand that the cost of transactions in a very strong degree depends on what the costs are borne by miners while mining bitcoins. If the cost of mining bitcoins will be reduced, then the price of transaction costs can also go down.
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The continuous decline in Bitcoin prices may make investors very nervous and many people have lost confidence in Bitcoin as well as crypto.
This is a very normal psychology and nothing strange in life, in any field, there are two emotional state is governed by FEAR and GREED.
Especially in the financial market, not just the crypto market, when prices are rising, people often feel GREED, focusing only on positive trends and never thinking about trends. Negative, when the price goes down, then the person feels FEAR, then focus only on the negative trend and never thought that everything would be positive again.
Talk about this for people to imagine that believing in a current trend is only relative and timed, so look at the market trend with an objective eye (out-of-game) so that If not, then it will not be absorbed in the psychological game of the market. Finance is a game of psychology!
What do you think about this?
Yes, it's a thin and professional mental game. Those who manipulate the market perfectly understand what psychological conditions you will experience during a prolonged fall in the price of your assets. |
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Yes exactly. The sign of equality between these two concepts is absolutely appropriate. Because bitcoin is the thing that will accompany us for many more decades.
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All that needs to be done and this happens every day. it's enough to type "bitcoin news" in Google and you will see for yourself how much happens every day.
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I was always less concerned about the opinions of people around me. I perfectly understand that many of them have no technical education and I do not need to listen to them.
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I will not leave here until I get the amount of money that I expect. To multiply my capital by half or three times is my task for today.
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You have to learn to listen to yourself and not crowds of hamsters who always shout about the death for bitkoin. They can not be trusted - they are too excited.
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