Its true that bitcoin price has gone very high and even middle class people would get astonished on seeing its price and think that they cold not afford that huge amount to buy a bitcoin.Instead,they could even buy bitcoins for 100 or 200 dollars.Also,they could wait until price falls before or after hard forks and buy more bitcoins.Either a smaller or tiny amount of bitcoin,we should just continue buying it monthly which would be more worth in future.
Waiting for prices to drop is not so good policy from bitcoin point of view. The price will swing from the 7500 dollars to 7300/7200 dollars. After that next big leap will be there. Thus waiting till the fork is over might not work as expected. Same thing happened when bitcoin-cash was launched. One thing for sure, chinese influence on the bitcoin market is over. Now there are many companies and users from many countries heavily investing in the bitcoin. When chinese exchanges were closed everyone was thinking that bitcoin price will fall. Nothing happened. In fact prices were increased by leaps and bounds. Check the price trends in bitcoin from last December or last years July. |
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I think investing in Bitcoin with such a small amount of money will be very difficult for you to buy a reasonable amount of BTC. Instead, you can invest in other Altcoin, more money, more profit and a lot safer than Bitcoin.
You are correct about the difficulty continuing to rise with investment in bitcoin. However the investment in altcoin is not safer at all. We all know that altcoins have very short life and mostly used for the pump and dumps. Altcoins are good for trading to earn some quick profit if you are following it thoroughly. Otherwise reliance on the altcoin will very dangerous. If you look at the next five altcoin to the bitcoin then you will notice that only ethereum, bitcoin-cash, ripple have somewhat good market capital. It would be better to change the strategy of monthly to bimonthly or quarterly. |
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You are feeling sad that for $100 of money,you get only few satoshis.Instead,you should see that how much value your invested satoshi grows in future.For example,if BTC price is $7,195 and if it increases to $8,000,the your invested amount would raise to $111.
We have to just consider about the increase in our invested amount and not to worry about having more satoshis or bitcoin as a whole.
If you still feel that you are not able to buy a whole bitcoin,definitely you are too late to enter in to the game.
I never said that I'm not feeling sad. Here the point which i'm trying to raise 'Some people were investing in bitcoin on regularly like $100 dollars per month. Now that price of bitcoin has gone sky-high. 'which strategy would work better for those'. Some suggestions about instead of investing on regular basis that on monthly, go with big stash like double monthly $200 or quarter 400 dollars. That would save the transaction charges and give the leverage of buying more bitcoins. At the same time when there is dip in price then we could buy in bulk. Just like now the price is back to 7100 dollars from the 7500 dollars. That is a dip. Buy coins at that point. |
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Given the situation of bitcoin prices are growing higher and more higher since last few weeks is becoming more and more difficult to keep up with the regular small fixed amount of purchase. Earlier for 100 dollars a month or bimonthly I was able to see the reasonable amount of bitcoin ( or should I say satoshis). Nowadays the prices have gone high which feels real good for existing amount purchased so far. However at the same time getting clueless about how much should be put aside for regular bitcoin purchase. Because for 100 dollars the amount of satoshis we get is nothing.
What do you think how to tackle the problem of investing in bitcoin on regular basis with prices going high and higher?
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One of Bitcoin misconceptions is to whether it can be used as a direct medium of exchange. As of now, some of the online products and services can be bought or payed directly to bitcoin. And for some ways it can be converted/exchanged to your country's currency through your e-wallet and banks that accepts btc exchange.
This is a fact and not a misconception. There are services which could be purchased using bitcoin directly. There are some companies which are offering bitcoin gift cards which will let you use that card as normal card for purchasing. About bitcoin conversion, that is how it works through out the world. First there are service providers or exchanges in most countries which sells and purchases the bitcoin for fiat currency. So when you want to buy some coins or cashout your coins you actually go through that process. |
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government cannot gain tax from bitcoin since it is decentralised. China cant ban bitcoin, so how other b\governmentcan ban bitcoin. the only thing that can do to "kill" bitcoin is to buy the 21m bitcoin that are currently mined.
Governments are collecting taxes on bitcoin and income from the bitcoin. In countries which are recognizing bitcoin or crypto currency as property will attract the property tax, whereas in countries where bitcoin is recognized as the accumulated wealth will be taxed under the wealth tax. This wealth tax is applied to the gold, silver, other precious metal and stones like diamond, ruby, perls etc etc. 21M bitcoins is not going to kill the bitcoin, in fact it is that number which has kept bitcoin users loyal to it. Because of limit on crypto coins, there is trust among the users that if tomorrow bitcoin touches a million per coin then devels wont take advantage of it by increasing more coin limit. This scarcity is the one of reason for price rise and loyalty. |
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Thought better. But don't you think mining bitcoin is lesser worth with cloud mining. Seems ROI lesser amount than thought.
Cloud mining of bitcoin in todays world is mostly a scam or ponzi scheme. Whatever one or two actual cloud mining services are there, there return on investment is so low that it is far better to have it them for your self. Yes there are some sites which are genuine cloud mining. Note, any cloundmining company like gainbitcoin and bitcoingwothfund are first class example of bitcoin ponzi scheme. Thus stay away from the cloud mining scheme. Purchasing bitcoins regularly with your monthly budget is better than cloud mining. Bitcoin is great way to teach the kids about the saving. You could show them that no matter how small amount they invest at moment regularly, after few years down the line they will have great amount of returns from the saving. |
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Of course it need.If virtual world is there, virtual currencies also is there.Without virtual currencies we can't handle our virtual expenses,virtual transfer easily.So we need virtual currencies, if we want to live the virtual life easily.
To free ourselves from the clutches of the banks we need the cryptocurrencies. Todays world is totally dependent on banks and financial institutes like master card, visa, paypal etc. If we want to transfer the money from one account to other account there are fees. In fact whatever you do in banking system there are charges and service taxes. In some countries taxes on electronic transactions are such that people would want to pay by cash. I'm not against charges on the money transfer however charging taxes on doing so is way out of the league. Right from the passbook to the loan to demand draft everything has a charge and tax on that charge. We need to move from this loot. That is why we need the cryptocurrency. |
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In my opinion it can change, but a little bit. Because if you know bitcoin you have an internet and some extra money to sustain or try bitcoin; you are in the middle level of wealth. If you are in a lower grade of wealth, you will not have an attention to try bitcoin at all, yes you heard bitcoin. But you are not willing to try it, because you want an permanent or regular job.
This is only true for people who have adopted the bitcoin early. Those who are joining now or later will not have much for them. Those who have entered the market early (at least year or two ago) are finding themselves sitting on pile of gold ( or should I say bitcoin). If These people managed to hold coins till now has resulted in shifting of their class at least one step above. Any one with 10 coins is millionaire in third world country. On the other hand the rich people who will enter now will also be able to make the fortune because current market price is affordable to them. Apart from that nothing more is going to happen. Bitcoin is a train that has gone for poor and middle class. |
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Either to be honest. I just don't want to put in 100 a month to wake up 1 morning to find rates have massively dropped
If you are putting 100 a month in bitcoin then sudden drop of prices will not be the issue. Even if there occurs a price drop deeper than usual bitcoin will recover in due course and cover those losses. I was referring to the price drop from 4800 dollars to the 3300 dollars few weeks ago. Now bitcoin is at 7100 dollars. Thus even if you decide to put your one week salary or 100 dollars per month is not that bad. In the long run that will give you better results than any other crypto. With crypto it is very dangerous to have the long term relation. They are good for quick money but in long run it is bitcoin and bitcoin only. |
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Those who will dump can lower the value of bitcoin since the price of something depends on the one who sells it. If many have participate the selling on low price, the price will continue to go down. I think this would have no effect on bitcoin so I don't worry if someone panic sells bitcoin in low price. Bitcoin is the mother of all digital coins so no need to worry about it.
When prices go tremendously high then it is known that once it hits a peak it will get some correction. Something like couple of hundreds which will make correction point clear. After that price of bitcoin in last few weeks are continuously going higher and higher. it is not only panic selling that is causing the dump in the price it is also the traders who are cashing out the profit that who have bought at low point on rising and when their target of profit is met start the selling. If you see that this way of the earning profit looks more like dump cycle if people are not aware of trading being done in large scale. There are players who have huge stash of the bitcoin with them. Thus for them earning more bitcoins with high price cycle is not uncommon. It is profitable for them as they will be trading in bulk. |
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There's been news going around saying that you need to put in a certain address to able to steal that account. I was wondering if that's fake and bitcoin is a secured way of handling cash.
Could you able to share the source of your news so that it could be understood and verified accordingly. Current OP is so vague that no information is in it. What kind of address to put. And where will it put. Whose account will be stolen. The information in OP looks more like third rate scifi film where no brainer hacking is shown. The one you see in mainstream hollywood movies a well just like where a hacker is shown working on computer and within 60 seconds he hacks a website or with few strokes of keyboard claims a site is hack. Do not believe in these kind of fake information at all. If you hear some kindly make sure to share the original source of information as well. |
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Look who's dead? ALL TIME HIGH = 7,000 $ . All right, this is really big news for everyone. Bitcoin will never be dead. This is very very big opportunity for those bitcoin investors or holders. Bitcoin is the future payment and it will never be dead.
I think the point is not from the price perspective alone but the price of bitcoin has gone so high that the original purpose of bitcoin as digital cryptocurrency is no more pluasible. Thus it has defeated the very purpose for which it was built for. From the usability sense bitcoin is deadmeat. Today we all like the way bitcoin is breaking all time high records every now and then. We all love to buy more and more coins. However with prices rising so high also caused the amount of transaction fees to go high as well. Apart from the that people are not using bitcoin for actual money transfer. If you look at the bitcoin cash it is at right level for being a cryptocurrency (I'm not advocating bitcoin cash here). |
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I think it's investing. You don't have to work and try hard. Investing your btc is like saving it. You don't have to worry a lot of getting lose it. The best thing is investing gives you a longer time to make your btc getting more.
Investing is less risky thus the rate of return is less than what one could get from the trading. At the same time, with the investment in the bitcoin one thing is sure that bitcoin prices are always rising thus there is almost no chance of loss. At least you could get your initial investment back from the investment. Till now people who have invested in bitcoin and kept them for long time have not faced this situation at all. In fact it is anything but loss. Anyone investing and hodling for long has made huge amount of profit. Same is not true for the trading. You could rapidly grow your coins with trading, however there is a chance of loosing your coins as well. It is more like double edged sword. |
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What you have said about Bitcoin being a legal tender is not true it does not mean that Japan and the Philippines are accepting Bitcoin automatically counts as a legal tender, yes they are accepted but it cannot replace the position of the country's own respective fiat currencies in legal terms negotiable instruments should be paid in the country's recognized fiat currency. Bitcoin is a bubble and there is no doubt about it. One good reason why it is a bubble is that Bitcoin does not have any fair market value we don't even know if Bitcoin is fairly price or not.
Point about bitcoin being accepted in Japan and Indonesia does not mean it is a legal tender in those countries is correct. However it is easy to see the bitcoin growth as a bubble. We normally tend to see enormous growth of asset without any plausible reason as bubble. However growth of the bitcoin is not linear one. It is not of parabolic in nature. Thus more users from multiple countries continue to join the bitcoin the prices will increase in parabolic manner and not in the linear fashion. Thus rapid growth of the bitcoin at this stage is not entirely a bubble in formation. |
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no, because bitcoin is legally used in many countries, and its demand is increasing more and more each day, if it lost its value it means that there is no active investor or holder of it, but its impossible right?
Just because bitcoin is legal in many countries does not guarantees about its price will not crash. Look at the oil prices few years ago, they were rising and despite being used by all countries today the price of oil price is dropping. If some countries powerful one decides to ban the cryptocurrencies then it will dent the prices of cryptocurrencies seriously. However there is very low chance of this happening. There are many big financial houses backing and entering the bitcoin business. Countries like Japan have accepted bitcoin and people from the japan are heavily investing in bitcoin. Thus prices are soaring and will remain so in new future. What may happen after that is unknown. |
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if you want to succeed in trading, you must be smart and see the development of bitcoin and altcoin. in trading is not always a profit, trading has a risk, so before you start trading, you better learn first about which coin you will trade.
Or may be we can get more profit by join ICO, the earlier participant of the ICO will get more profit. We need skill and experience for trading so we will not do it like gambling. The ICOs is booming now its mean that the investors are really make profit from it. It is true that ICO are booming and there are many instances of ICOs being banned in countries. More and more countries are finding ICOs as way to earn easy money and run away. Though your point is correct that one could earn more profit from the ICO if person joins that ICO in the initial stage. For that one needs to remain alert and not too greedy. Otherwise as it happens with every ICO first peak is the greatest and once downward movement starts it is not gradual, but like a nose-dive. Thus set the targeted profit first be flexible with target as there could be early nose-dive in price movement. Once profit margin is reached move out quickly. |
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