Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.
There is no way to determine the number of people using bitcoin. Maybe a million of people using bitcoin from 2009- 2016. But that is am not sure bitcoin become popupar and many people use it. It's really hard to get that information right now. Perhaps, when Bitcoin becomes mainstream, some serious research institution will begin to make statistical analysis about it. What is known at the moment is that Bitcoin has a much higher number of users than it had a few years ago. |
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I am currently holding my bitcoin and will sell it if it reaches a profitable price. I think bitcoin will soon reach more than $1000 dollar. In my opinion, trading and investing is not a good idea to bring a steady income. Besides, we can lose all of our money if we are not careful while joining these project
A few months ago I was using Bitcoin for investments, like altcoins and ICOs. But lately, there have not been many good opportunities for it, so I'm also holding, that's probably the right thing to do, atm. Under current market conditions, there is a very good risk-reward ratio for Bitcoin. |
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Investing into ethereum was in my plans, but luckily I did not buy when the coin was in the $ 9-10 range. At the moment, I think the price may drop a bit more, especially if the network suffers more attacks. That's not the main reason, anyway. I believe that the main reason that could lead to a subsequent fall in price is if Bitcoin continues to rise in value.
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If bitcoin died tomorrow then it is time for me to focus on my work now.Bitcoins help me to get extra income.If bitcoins die then ill dont get extra income and itis not a big lost to me.I would probably mpve to another potential altcoin if that would happen
This is probably the way to go if that happen. Move to other activities. It would be a great tragedy, but it would not be the end of the world. With regard to altcoins, I think they would also be affected negatively, but it is possible that some of them would survive in the market. |
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For me, the main reason for using Bitcoin is the fact that in this way I can store value in a decentralized manner and more safely, as long as the necessary security measures are taken, of course. Being decentralized, the user is the only person having full control over the funds, and that's probably the main reason why I use it.
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I'll go with trading as the best source of bitcoin nowadays, I know there are lots of things for you to get bitcoin but when it comes to more profitable trading would be on top, gambling will do next if you know how to control yourself it's fine to play with it.
I will not disagree with you, trading is probably the best source. But it is not a market that allows anyone to make profit from it, it takes a lot of study to lessen the chances of losses. Even the most experienced traders have problems when trying to make profit from it. It is also important to remember that this requires a significant initial investment. |
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Price is important because it is a reflection of how Bitcoin puts itself in the economy. Nowadays, there are many people who depend on Bitcoin to send and receive money. There are also those people who use Bitcoin as a way of storing value. So, if the price of Bitcoin falls, too many people could lose money on it.
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It's interesting how people get desperate when Bitcoin is about to take off, and they create all kinds of scams to pick up more Bitcoins. Even worse they take advantage of the desperation that other people have of getting rich quick.
This does not exist, and the best chance for them is to stick with Bitcoin, at that point everyone should be aware of it.
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What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
At first, there could be some panic selling, but then people would realize that would not be enough to stop people from using it. In fact, this would only promote Bitcoin, making people realize the benefits of using it, and making them realize that Bitcoin is the way. If we stop to think, Bitcoin exists to protect people from the irrationality of centralized institutions. |
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Despite the fact that Bitcoin can not be spent anywhere, it is possible to get a good profit from it, if you have trading skills, or if you are patient and hold it, that way the individual has a way to meet the daily needs, even that for this he has to convert BTC to Fiat currency. The process is quite simple, anyway.
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I really cannot see a world where bitcoin is the only cryptocurrency and it has no competitors - that way, bitcoin will not be able to learn from its counterparts and will only stay at the same spot for years and never march forward.
Altcoins will always be here. Most are scam but there are some that really try to influence the crypto community, like Monero in my opinion.
Yeah, Monero, Litecoin, I would even include Ethereum Classic, but I don't know what's going on with the market. Since the beginning the price has dropped a lot, maybe Ethereum's problem lies in the fundamentals. In that case, the problem is valid for both chains. Anyway, I believe that these coins will only survive if the improvements can not be implemented in Bitcoin itself, if necessary. |
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I buy them to have money under my control. I have a growing unfriendliess toward fiat money, like more and more people hopefully.
Yeah, Bitcoin has more uses than just speculation. Although it can not be used to buy in any physical store, Bitcoin works as a great way to store value, protecting the investor from Fiat inflation. As they say, you can be your own bank. |
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Best possible way for an investment would be holding the bitcoins instead of putting them in different baskets.
Bitcoin itself is one of the best investments if you are smart enough and know how to take advantage.
Under normal conditions I would prefer to invest part of Bitcoins in some altcoins, but at the moment I do not see many altcoins with good performances in the market, so a good decision may be to hold the bitcoins. Diversification is important anyway, even if these are investments outside of crypto, such as gold or the stock market. |
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What a bloody mess. Really a disappointment for a project with so much potential. I think part of the fear in the market is related to this unusual model of distribution. That's crypto, centralization does not fit here. Whose idea was the multiple ICOs?
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The price does matter because many people invest in Bitcoin, and it is not good for them if the price drops below the price they paid for them. Even when using it only as a currency, you can lose your money because if you get some money for a task it can later turn out to be less than you actually got in the first place.
That's right. Many people in bitcoin world are making money on this bitcoins price difference. And that is the main factor that attracts users. So in the other case bitcoin would loose it's popularity very fast. And that's the only thing I like in bitcoin - it's price. Price is something that really matters, but it's not the only thing. It's also important the use that Bitcoin has, and the fact that this new technology allows users to be their own banks, storing value without depending on central authorities. With regard to price stability, I think it's important, but volatility is something useful, as it attracts speculators, and these speculators help bringing liquidity to the market. |
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The truth is that there are few currencies that provide a significant improvement over Bitcoin, and the number is even lower when trying to identify currencies with improvements that could not be implemented in Bitcoin itself. This is a time when caution is needed when choosing the currency to invest. If you are little experienced in trading, the best thing to do is hold the Bitcoins, and seize the moment to learn more about how the market works.
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It's not worth it. It wasn't worth it last year too. Mining won't get you more coins compared to buying and holding and the risk of a fire, theft or any other equipment failure is too great. It would've been different if the hardware sellers provided some kind of a warranty, but they don't and people are still buying their product like crazy. What would you do if a store you bought your pc from told you there's no warranty? I bet you'd never buy it.
It's a very specialized business. There are many factors that make it difficult for new users. In addition to those already mentioned, such as mining diff, equipment costs, electricity cots, there are other factors that also make a difference, such as the cost of sending the equipment. This makes the cost lower for people who live near the manufacturers. |
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I fund my Account with 0.001btc with poloniex, I think depend on how mush you have like in forex trading I don't advice people to start trading with nothing less than $1000
If the purpose is earning a living from it, in the cryptocurrency market, I think at least a few bitcoins may be required to make a good profit, even being a market with relatively high volatility. But the important thing is to have good sources of information. In the Forex market, the initial investment is likely to be higher, especially given the fact that volatility is lower, that is, it's a more stable market, with much higher liquidity. |
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Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?
A range between 0.1 and 0.01 USD would be volatility enough to attract the attention of many speculators. But such value would not make sense, because Bitcoin's available supply in the market is very limited, more limited than most people think. As soon as Bitcoin touched such a value people would buy in large quantities, causing a strong upward trend in the market. |
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I often get that feeling. I'm not real trader, I usualy sellw bitcoins if I need money for something but somehow I always get the feeling that I've missed the perfect timing and that I could have done better. But sometimes it's hard to keep the track with everything that is happening on the market.
This is a situation that does not just happen to you. In any market, doubt is a present element, and every effort is necessary to draw such element from the equation. The best thing to do for this is to try to understand the events that can influence the market, following the main news regarding Bitcoin's performance in the economy. |
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