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No. Not a disaster. I don't think Bitcoin is that scary to banks. Banks have many important functions in our economy. Bitcoin is only a threat to crooked banks. Compared to banks, Bitcoin was too small to present any threat to the worldwide economy.
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Theoretically, how large the gap between demand and supply will decide the price of Bitcoin. The price will shoot up if the demand is higher than the supply. However, in fact, the market tends to be manipulated by whales who own a large amount of Bitcoin. The whales will buy and sell to impact holders' psychology to make big bucks.
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Bitcoin helps you transfer money beyond the border easilier and faster than dollar. I your salary is enough for you to afford your life, you will have a spare money. If you put that amount of Dollar in you safe, you take a risk that your money decrease in purchasing power. Or less worse, you put it in a bank, the real interest after deducting inflation is not significant. But puting money into Bitcoin is called "using money to create money". Bitcoin is an investment and can yield profit.
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I often do research on the develop team before deciding what coin is reliable to invest. There are coins out there almost disappear because of the bunch of crackheads behind it. Non of the deadlines on the roadmap hit, no update, no any movement... At the other hand, there are very basic, simple coins with a great team behind it. Just make sure your coin is in right hands. This is extremely important.
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I don't think it will. Firstly, government can't fully understand Bitcoin. Also, they can't find a way to stop Bitcoin from being transferred internationally without governmental awareness. So even if governments regulated Bitcoin, it wouldn't be effectively regulated. Secondly, governments are always expressing their antipathy towards Bitcoin. they said that there was no legal provision backing up crypto transactions and referred to cryptocurrency as a “serious threat to the financial stability”. Considering such claim from them, we can understand that they don't want to welcome Bitcoin.
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Governments seem the biggest obstacle for banks to carry out this project. They don't like Bitcoin and even outlaw it. Even if Bitcoin is allowed in a few countries, Bitcoin won't be offered as a deposit for sure, since it's risky and can have huge impact on financial market. Moreover, Bitcoin is kind of brand new and unbeknownst to the majority of citizens.
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“You get recessions, you have stock market declines. If you don’t understand that’s going to happen then you’re not ready, you won’t do well in the markets.”– Peter Lynch
It's a useful advice of Peter Lynch for stock investors and I think it is the same to crypto market. First, calmly find out what is happening, why the market plunge into a fall. I don't recommend selling or holding but every decision should be made after being based on enough thought. Good luck!
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Nope. Decrease doesn't mean the end. Just keep calm and don't be panic. The underlying technology of Bitcoin is Blockchain technology, the future technology. The fluctuation of prices is attributed to the imbalance between demand and supply. Bitcoin can dip then rise or rise in short term and then dip. But one thing for sure is that it'll not going to die now.
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Before questioning the readiness of the world to cryptocurrency, considering whether virtual currencies a feasible alternative for the corporate world, or are they simply a passing fad is necessary. Bitcoin as well as other cryptocurrencies has many features fitting with crimes' needs. For example, Bitcoin can be used to buy bad things, like illegal weapons, owing to the anonymous characteristics in transactions. I think cryptocurrency need more time to perfect themselves before being widely used.
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I don't think so. Although Bitcoin and banks do have the money transfering function in common, they are not the same thing. Imagine that Bitcoin is a cheap, small, friendly, convenient bakery shop and banks system is a famous, expensive restaurant which not just sell bread for breakfast but serve many dishes for other meals. Is there any chance that the restaurant will go bankruptcy due to failing to compete to sell bread? I mean banks have many more functions and still play an important role in economic development, like mobalizing capitals, giving fiscal and monetary policies. Bitcoin, much as an cheap, fast, convenient way to transfer money, can't replace banks.
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Yeah, 6 out of 10 American asked are willing to invest in Bitcoin. That's really positive results. You're right to decide to take an affordable risk. If you invest in Bitcoin with the money that are much higher than your financial ability, you'll easily get panic when the markets swing and that will result in wrong decision. Just buy an affordable, don't borrow money with high interest rate to speculate Bitcoin. It's extremely risky and will affect your personal life.
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Yeah, Nokia failed when Apple joined the phone market and. That's true. But there are still a lot of examples showing the late companies go bankrupt due to being unable to compete with the old one. You can't compare Nokia with Bitcoin, they are not the same. First, I don't assert that Bitcoin will take over the market forever, but I don't agree with you that Bitcoin will be replaced just because it's older than Altcoin. Your argument isn't convincing enough and it's not right, either.
In the short term, Bitcoin can feel secure about its position in the market because there can't be a better coin created that fast to take up Bitcoin's share. In the long term, the situation is unpredictable. But at this rate, Bitcoin is far better than Altcoins, the chance Bitcoin will be replaced are little.
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I don't think Cryptocurrency will go on well without the Bitcoin. When people hear the word "cryptocurrency", they will immediately think of Bitcoin. That shows how poweful Bitcoin is. Bitcoin is much useful and reliable than Altcoin. And Bitcoin makes up a large percentage of cryptocurrency market. It's not granted that Bitcoin has gained investors' belief.
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Bitcoin transactions are irreversible, so if any of the currency leaves your account, you won’t be able to get a refund. It’s also easy to lose bitcoin, and once it’s gone it can be tough to get back. Bookmark your wallet service’s website if necessary. Some services, such as Coinbase, allow to you set price alerts that tell you when the value of bitcoin has dipped below or climbed above specific figures.
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He just intimidated you into paying him hush money, That video doesn't exist because you say you don't have a webcam. He said he will send it to your 6 contacts. That was obviously a lie, 'cause you don't have Messenger, Outlook,etc. What was used to blackmail is not Bitcoin, but the inner fear of the receivers. The scammer just mentioned Bitcoin at the end of the email as a method of paying. So I think this is not a Bitcoin scam, but a regular scam.
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Bitcoin and gold are different in its main purposes. Bitcoin is a tech-based product and the main mission is to be a means of payment. Bitcoin can be developed and improved in the future, while gold is always the same. Just because Bitcoin and gold are similar at the point that they are both mined and speculated as an investment doesn't mean they are one kind.
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I don't think so. It's not the problem that bad or good comments. If they want to join, they have to a thorough research to be aware of both bad and good sides of Bitcoin. Just following bad comments shows that they are bad at judging. Even if they invest in Bitcoin, they will fail to be aware of which news is true and which new is fake to stick to, leading to poor decision.
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