That is not going to happen in a quick way. You can buy the bitcoins and hold them and wait for the value to equal a doubled amount, plus the cost of inflation and the cost of the exchanges and that would take a few years, maybe slightly less. Doubling your money is really just a joke and cannot be done, even with crypto. Buying a stock, waiting for a split and a recovery time is not even going to do it for you because the process cost more than it was worth.
Since the price of bitcoin is very volatile we do not know how much time is going to take to double the value in fiat of whatever amount of bitcoin you are holding, but in this year you could have earned many times over your initial investment if you bought at the beginning of the year, so the strategy of the OP despite being passive can work depending on the movements of the price of bitcoin in that particular time period. |
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Some people prefer bitcoin over fiat because on some places bitcoin is tax free. I guess it's not bad to use bitcoin for something as long as you're not breaking any law/rules from your place. There's much more misuses of btc but if we continue this discussion it's getting kinda off topic when the title is about bitcoin and fiat.
Actually, bitcoin is absolutely tax free and they prefer to use it because you may use it in different kind of transaction even it is on online or offline store. In addition to that, they know that bitcoin has a high value in market and every time the price of bitcoin goes up while the price of fiat is stable. Nothing in the world is tax free, governments tax everything and if something in a country is tax free is because a government has decided to not charge tax yet to an activity, as bitcoin becomes bigger you will begin to see an increase in the regulations to exchanges, this is already happening, and an increase in the regulations to people that want to buy and sell bitcoins through other means. |
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What percent of people do you think are able to resist selling their BTC when confronted with huge profits they've obtained. Say 500% or more even?
It is impossible to know the precise answer to that question but I will guess that more than what you think, someone that bought at 600 dollars a year ago is making a lot more than that and I think many are still holding their coins, why? Because they think bitcoins can still go a lot higher and I think they are right so when you see profits of 500% that seems like a good profits but when you think about the profits that you can still get, then 500% is nothing. |
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Trading in very small amounts will lead to very small profits. Reasonable. I'd recommend increasing the number of your bitcoins to at least a small amount only at a glance. And with larger you can try some place to trade. In case if it will not be profitable in one, in another it will be at least something.
I think if you are starting doing trade for the first time even with smaller amount, the main focus should be on learning all the ups and downs instead of focusing on profit and loss. I will suggest everyone to go on with small amount and then keep on increasing amount when you think it’s feasible. Yes, you are right every beginner should learn to trade with a small amount of money because without learning he might lose all the money which he invests. Trading is not one day it will take some time to get knowledge about trading so it is always good to trade with small amount and you can learn new thing about trading with that small amount only. I agree with you, if you are a beginner much better to try in small amount to get an experience. This is because you need to experience and get a lesson from your mistakes. And if you get an experience you need to upgrade in high amount and apply all your acquired knowledge from your past trading to make a good decision to avoid too much losing of money. Small amount or large amount are also need you keep your rules when trading. If you cannot control your emotion, I am sure you never get rich in trading crypto. Actually if you can do like my said, starting with large amount still good. Starting with a big amount of money when you are still learning to trade is a bad idea, you need to learn the ropes first, it is not rare to see people in the forum that are new to trading saying that they intended to do a trade but they did a different one because they were unable to understand the platform of the exchange in which they were trading, so start with a low amount of money and after you see good results you can make a bigger investment. |
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As of right now, the bitcoin price is expected to keep going up in the next 20 years. But can it last that long? I believe it's possible. But can't it crash at a random time? Like the price going down hard.
I think, no one knows how long will it exactly last. Twenty years is a long period of time, and based on the overall statistics of Bitcoin from the market demand, to its market value, I can say that it is possible for Bitcoin to last for that long. And after 20 years? Maybe Bitcoin is legal to most of the countries as a currency and will be accepted by local retailers of most countries in the future. No one knows how long bitcoin is going to last but that is not an impediment to try to make our predictions taking into account how strong and resistant is bitcoin I will predict that bitcoin is probably not going to end or die in the next 100 yeard, there is always going to be someone willing to mine bitcoin and at least a person willing to accept it. |
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Since all this this ban of exchanges in china the next logical move is decentralised exchanges.
I believe associated coins will definitely moon.
NVO is also a decentralized exchange, its ico ended a few months ago and its on the early stages of development if you are interested you can buy those tokens at a price cheaper than the ico so that seems like a good investment for the future also the tokens will give dividends to those that hold them so all around it seems like a good project to risk a few dollars. |
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The only point that bitcoin cant offer is currently being anonymous transactions, as all the discounts will show off into the wallet, i dont see it as a dilemma but as an gain, with this method you may know how considerably funds you had expended, some thing with fiat we dont control or do know the ammount.
More than anything bitcoin is lacking cheap fees, while some complain about the speed of the network, the fees are the real problem, the fee can be as high as 5 dollars, if you want to buy a cheap product you are better off buying with fiat or paypal, fortunately I think this is going to be solved but we have yet to see the results of the improvements on the network. |
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Who has bought Bitcoin on leverage/borrowing/margins/credit ?
Curious how common for borrowed to buy more Bitcoin.
While you can leverage your trades I have always find that to be a mistake, since leverage cuts both ways with the difference that it cuts way worst when it is against you, if you are earning money then everything is great but if you are losing then you can easily lose everything in less than an hour with the high volatility of bitcoin, so while I’m not a trader this seems like a bad idea to me. |
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Not really understood about how the price be analyzed, it s just jumping and higher now, I was assuming it might need couple weeks  You never know, we may not be ready yet, but if at some point bitcoin becomes as fast as fiat then I do not see a reason why that could not happen, governments of the world mismanage their economies all the time, so if a country enters in a very serious economic crisis I will not be surprised if their citizens opted to adopt bitcoin instead of rely once again on their government. |
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Probably no country will ever abandon the fiat system in exchange of cryptocurrency. And it is beneficial for both currency to co-exists, so I see no reason this will happen. There are advantages of using crypto, and there are advantages of using fiat as well. Let us leave it that way.
You never know, we may not be ready yet, but if at some point bitcoin becomes as fast as fiat then I do not see a reason why that could not happen, governments of the world mismanage their economies all the time, so if a country enters in a very serious economic crisis I will not be surprised if their citizens opted to adopt bitcoin instead of rely once again on their government. |
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I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k
he said his friends had hundreds of BTC if i was interested.
Is a monster dump on the way?
It seems a dump is underway while this hurts the price in the short term I’m sick and tired abut all this new about China, let them sell all their coins and let bitcoin alone and it will be a lot more stable, I cannot wait for the day adoption gets bigger in other parts of the world so we can stop worrying about what the Chinese government is going to do next. |
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Of course, and it already has. Anything that cause the positive and sometimes even the negative movement of money in an economy is an improvement. Crime is fine, and whatever base is used to move that money is fine. It is not about the source of the movement, the type of movement or the end destinations, it is about moving money and moving it more and more, any reason, any source, any time.
Bitcoins are meant to be made legal before they can benefit any country economically. We need to put pressure in a positive way on our governments to make these brilliant coins legal in order to give public good deal of freedom for using their money. Bitcoins have potential to increase the economy. Bitcoin does not need to be made legal before it can offer benefits, if you are benefiting personally from bitcoin and then you are using part of that money to buy stuff where you live then you are stimulating the economy and by doing such a thing everybody wins, you get products and services that you need, the ones that bought from get your money and at the same time they can use that money for their benefit too. |
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Everyone in the USA can agree that today’s healthcare system is a total mess. We have a dream that one day the whole chain of medical institutions will be based on blockchains, that way there won’t be any misunderstandings between the patient and his/her medical bills from the healthcare organizations.
Health care systems all over the world are terrible the attention is slow, expensive, the service is bad, and most of the time it is difficult to get what you need, the blockchain will be a great help to improve the services but I doubt we are going to see anything like that implemented anytime soon since I think soon enough the word blockchain is going to become synonymous with bitcoin and if there is a ban then governments are not going to want to adopt a part of bitcoin technology even if that technology is going to benefit them and the people. |
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For me i look at team, social media and techonology that they want to provide, but mostly there was more factores that you need to look at before you invest in to ICO's really important is the techonolgy and the realisation at White paper almost all of the good projects they have a nice described token realisation
The devs are the most important part of the project even if the idea is not the most original they can beat existing coins if their execution is better, if the end product is better, so always check that the developers are who they say they are, also look for fake pictures, if there is any that is a big red flag and finally once you have determined they are real then you can look at their experience. |
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Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.
How about fiat? Isn't it also used in porn sites, gambling, drug dealing and other illegal transactions. Like you said, blockchain is a good technology so we must emphasize all it's good uses and benefits within society. Correct the argument of the op does not hold any water, bitcoin is not some kind of moralist coin that is going to solve all our problems, bitcoin is a currency and it is going to be used to buy what people want with it and that includes legal and innocent things like electronic products, computers, digital products and the like, but people also use their money to buy all kind of illegal things and some are going to use bitcoin for that. |
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Yeah ICO is official banned in China as it was kind of illegal fubdraising of ICO without any rules and regulations therefore China had to ban ICO. One of the reasons was ICO being banned was that there were many fake or scam ICO which would harm traders and other users.But I also don't know what is true as there are many fake news about it topic going on,just to start panic among users.China had done the right thing I think.
The only right course of action is to wait and hold, do not sell any coins until you are sure that what you read is not a rumor spread by someone trying to gain something from you and other people then and only then you should consider your options, the market has gone down and it is below 4000 the price seems to get a little more stable, just analyze the situation and based on information not rumors take the right decision for you. |
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If we only focus on doubling the bitcoin we have in a short time, the easy way is to play gambling. But it has a big risk, but if we are lucky to gamble then our bitcoin can 2x fold. but it is only done by people who are good at gambling.
Only people that are lazy are going to try to double their money with gambling, gambling is supposed to be for entertainment only, you cannot make money in such an activity unless you are a great sports bettor or a poker player and there are not many people like that to begin with, besides if you were willing to make such a huge effort to make money then I think you should engage in something different than gambling since there are better ways to make money with bitcoin than gambling. |
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Its like that I trade etherium when the price is 0.14 then its going down and down into 0.7, 2 months that I hold never going up, I should cut my loses. Well you should never hold altcoins for long trade only for short trade.
Your mistake was not to hold altcoins your mistake was to buy at an all time high, if you instead avoided buying at that time and bought today you will have great chances of profiting in the next months, but if you decide to hold I think you are going to need to wait a few years before we see a price as high as the one we saw a few months ago for ETH. |
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Price will always depend on its popularity, based on supply and demand not its existence. I do believe that Bitcoin can last long since it’s till gaining popularity, still gaining users and investors. It will likely stay for a while until a new digital currency dethrones. But that’s still a long way down the road. And it will not crash at a random time. If it did, there will be a rational explanation for it. It can be a discrepancy or an outside environs fucking up with it.
Yes. There seems no such sort of thing which can demolish the future of Bitcoins. But you never know what will happen next. Looking at the way how it is gaining popularity amongst investors, it will be unjust to say that Bitcoin holds a dark future. It is just a matter of time that will prove us otherwise. Well, there is always a risk of bad things happening, like government attacks and internal conflicts involving developers and miners. However, due to its decentralized nature, it is very unlikely that governments will shut down Bitcoin. Regarding internal conflicts, the worst thing that could happen would be another fork, in which case the market could decide which is the best. The problem with forks is that it weakens bitcoin, a fork in any other open source project most of the time is a good thing since you get two different visions of a product, and while we get that with the forks, at the same time, that takes hash power away from bitcoin and also creates confusion among people about which coin to back with their support. Forks not always weaken bitcoins, some time they do help in making bitcoins famous around the globe. Bitcoins are very much famous in the digital world and I think people are not easily going to stop suing bitcoins because they have tasted the huge profits in the company of bitcoins. A fork increase the public interest but I think it does it in the wrong way, besides forks like the bitcoin cash fork create a bunch of new coins and then people try to get advantage of this, so a fork creates instability in the market because people are trying to figure out in which chain to keep their coins and in which chain to sell, this is great for speculators but not for adoption. |
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Dot.com and crypto is diffrent by my opinion,we have crashes almost every day on some shitico and shitcoins,in a case of shitcoins devs are developing new shitcoin i guess same happen with icp's with much more money,but few ico's wil bring his investors nice incomees and will disrupt industry
No one cares if a coin with a small market cap crashes, the top 10 coins have almost all the market cap so those crashes are completely irrelevant and only affect those poor souls that invested some money in them, but if bitcoin crashed almost all the market of cryptocurrencies is going to be affected since all alts are priced in bitcoin. I don't mind if BTC crash, am I wrong? It's like a salvation to the cryptomarket. We have a more technological advanced and anonymous coins, don't we? If you do not care then that is your right and I’m not going to argue against but the problem If bitcoin crashed is bigger than just a coin crashing, it is a matter of trust, if bitcoin crashes then the trust in cryptocurrencies is going to evaporate, people are going to begin to question their investments in crypto, and will think if that happened to bitcoin that may happen to this other coin and then panic will increase |
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