With today's technology, it is not impossible that Bitcoin will take its reign to be the major fiat currency in most country. What do you think?
I think as of now, because not everyone has access to Bitcoin and bitcoin transactions, we will not see it take over fiat for a while. With bitcoin, every person will need some form of device that allows for transacting money. A lot of the population is in rural areas, are poor, and may not even have access to things like electronic devices. For now, fiat offers a simple, well accepted currency based on a country. If we can get to the point where everyone has an electronic device or that every government provides it, then only will I see it possible for bitcoin to take over. i don't think OP had replacing fiat in mind. in any case i do believe that bitcoin can become a big currency and something that is used by many pretty soon as payments. specially in countries like Japan which have adopted bitcoin and removed taxes on bitcoin payments. that is more than enough incentive for anyone to start using bitcoin instead of fiat (like credit cards for example) and pay even less taxes. and shops are already accepting bitcoin over in Japan. |
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How do you measure altcoin value? Do you measure it in terms of bitcoin, or in terms of USD? Which is more important to you?
always in terms of bitcoin because if i do so i will be making twice the profit that i can make because i make profit on the bitcoin i invest and then bitcoin price rises in USD and i make another profit there too. and when i check the volume of different markets it seems to me like the alt/BTC market has a lot more volume than the alt/USD market so i guess most people are the same. Asking this because, one can have huge profit in terms of USD in alts and at the same time, a huge loss in terms of bitcoin.
So which one is it for you? Especially in trading of course.
actually you are missing out on bitcoin rise if you think like that so you are in fact losing money. for example bitcoin goes up from $5000 to $7000 but the altcoin keeps the price at $200 and at best goes to $210 so you kept your fiat's worth but you missed out on the bitcoin rise so you lost money in fact by holding the altcoin. |
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What's Your Prediction the Highest Potential Crypto in 2018?
please give your opinion for investment reference
long term: bitcoin short term: every single altcoin you can check out the price history of each of them to see. bitcoin will rise in long term. if it is X dollar today it will be worth at least 3X dollar in a year from now. on the other hand altcoins that are X right now will be X/2 in a year from now at least. but in short term like 1 week or in some case even in 1 day they can go from X to 100X and then fall down to X/2 which is why they are good for short term investment because they are purely pump and dumps. |
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to find the answer to your question take some pen and paper or use an excel spreadsheet. you say you want to invest long term so take a look at the price at least a year ago. for each of these coins start writing down their prices each month and see how much your $25000 could have been worth today if you invested in each of them.
but most importantly try to see how long it took them to give you that profit and also check to see how far away we currently are from the ATH of each of those coins.
for example a year ago bitcoin was $800-$900 and now it is $7100 and each month it was rising consistantly. the price didn't get here in 1 month and the ATH is not far away it was reached acouple of days ago and we are still near it (7550).
ethereum for example was worth 0.01BTC a year ago. it is now 0.04BTC but the ATH is far far away at 0.15BTC months ago and price has been falling ever since. and the ATH was reached in about 2 months not consistent strong rise over the year.
this method should give you a good guideline about what is good for long term and what is good for short term investment.
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the $500 drop was a small drop because it is $500 out of $7500 not $500 out of $1000 which means the percentage is small (~8% while the other is 50%) and that is why nobody cares. but also there are still those who panic which you can clearly see on the charts with the big red candle representing a big ass dump from panic sellers.
and these days everyone is buying more bitcoin rather than thinking about selling anything. and since the number of investors has grown a lot, it means the drops will also be so much harder and slower.
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i always say people go too far with their speculations about bitcoin. they either say bitcoin will die or they say bitcoin will replace everything!
but in reality there is a whole lot of stuff in the middle between this moon and doom predictions. bitcoin is big and is going to grow a lot more and in the future it can even replace and put out of business a lot of online payment processors such as Paypal. but it is not going to become big enough to replace fiat (all currencies) also at the same time the technology that bitcoin introduced to the world will replace the traditional banking system soon.
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every altcoin can only tolerate a certain amount of dump because there is a buy support behind it, buy support is all the buy orders that you already see in the order books or the buy orders that are placed afterwards in the order book.
when bitcoin is rising people expect altcoins to get dumped. also so many others move their bitcoins which were placed in altcoin buy orders (the buy support) to bitcoin/fiat market to sell on top and buy back in the dip. that removal of buy support means there is nothing to stop the drop anymore and the altcoin drops become big. and it is a ripple effect, when the first drop starts the panic selling follows and the dip becomes bigger.
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first try to figure out what type of wallet were you using. was it the official full node (eg. Dogecoin Core) or was it a light wallet (eg. MultiDoge) or web wallet,... then find out the website of said altcoin and download the latest version of that wallet and try importing your wallet.dat files in them and see if it works. it should since good developers make their wallets backward compatible. if you had issues, try downloading the old version of the wallet (eg. https://github.com/dogecoin/dogecoin/releases) and import your wallet.dat there but just export your private keys and import them in the latest version of the wallets. if nothing worked you may be able to find tools on github to read the wallet.dat file only and try to extract the private keys in order to import them in newer versions. if you have considerable amount you can even pay someone to code something for you real quick. but be careful what you use and don't trust anyone easily. |
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you are confusing correction with a dump and a bear market.
the correction is inevitable. and it happens all the time. if you take a look at some charts, preferably hourly or at least 6 hour chart, you can see all the times where price takes some steps back and it falls back much better.
for example 3 hours ago price fell hard down to $7073 from the ATH of $7590 which is a $517 drop. a small drop but a correction nonetheless. we also had multiple other corrections each time to a different low but each higher than the last. $6700-$6822-$7005-$7073 happen each time a new ATH was set. $7354-$7500-$7590 respectively.
this shapes up a channel leading upwards.
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How will a crypto currency set the value of that coffee if there is no longer a local currency to compare to?
who said anything about "local currency" not existing any more? the "local currency" or fiat will always exist and bitcoin is not here to take its place. What would set the crypto currency value of the coffee I purchase every morning?
it doesn't matter what you do with your cryptocurrency, conversely bitcoin, the supply and demand set the value of it not what you do. What happens when all 21,000,000 BitCoins are mined and there is no more cash flow towards the system?
Will the BitCoin value freeze and it is no longer considered a fluctuating investment?
this question have been asked a 100 times in the past month alone. try using the search on top right corner of the page to find out the answers. I am not saying that this will not work. I am just trying to wrap my head around this thought of how it will work once it takes over the hard currencies, if it does.
that is just it, the big "IF". first you have to prove that bitcoin is going to replace the current form of currency then talk about what will happen after. right now i don't think that many people agree about any replacing taking place any time soon. |
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well with all the economical issues that are going on in Zimbabwe, i am not surprised. we already know whenever some economical issue like these happen people start thinking about storing their wealth in anything but fiat so that they can try and keep their money's worth when the economical devastation happens.
so far the "go to" was gold. but it has been at least 2 years that bitcoin started showing the world that it can be an option just like gold with a higher risk but a much bigger reward. and with all the media attention this year and all the adoption, people started accepting bitcoin for their store of value.
currently they are rushing to buy bitcoin in Zimbabwe while being kind of cut off from the world. which leads to this kind of huge rise over there.
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Cryptocurrency Exchanges Officially Dead In China?
the big exchanges are in a winter sleep and will most probably wake up after some time as some rumors and news tell us about them. they will come back just as they came back before and with new sets of rules and regulations and probably 0 ICO. the act of exchanging or trading is still pretty damn hot in China though. they are trading bitcoin like crazy. the volume of some foreign exchanges are not much higher because of their migration and also the volume from decentralized places and the peer to peer or OTC trading places are through the roof too. |
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It's currently estimated about 3 million people own some amount of Bitcoin.
i would love to have more information on this. such as where did these estimators get this number from? is there an article about it and can you break it down. if i had to guess, i'd say it is a lot more than 3 million. there are more accounts on sites like blockchain.info and coinbase! If Bitcoin becomes mainstream, and say 50% of people in Europe and NA own Bitcoin, how much would it be worth?
50% is huge, by that time price would be a lot more than this. somewhere around $500,000 seems like a good estimate to me. and that number have been thrown around a couple of times by different speculators too. but if you think about it in terms of satoshi that would be $0.005 per satoshi which is pretty low still  |
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if this fork is anything like the last one (bitcoin cash) then bitcoin price will rise after the fork. people were also speculating price fall, split, death,... about bitcoin before BCH fork too. but we saw a gigantic rise afterwards.
and also we have an additional good news about CME opening up future investments for bitcoin and it seems like the market is taking it seriously. and that is bringing in a lot of fresh money. the other day i read a large number of users have signed up on Coinbase (1 million in a day or something like that). that shows there is a new rally on the way. specially when this fork is out of the way.
i said all that to say when bitcoin rises, we have seen multiple times that altcoins get dumped hard. in which case i wouldn't expect any ATH from any of them.
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This fork has no replay protection so you could accidentally sell BTC when you mean to sell B2X - to avoid this move your BTC first into another address you own before spending either.
it seems to me like these forks nowadays never implement replay protection until the last minute. so far SegWit2x fork has an special opt in replay protection implemented, it is not strong and it only works one way but nothing is stopping them from implementing a replay protection in last minute like the bitcoin gold crap did a week after they took the snapshot and everyone dumped their IOUs on exchanges! |
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that is what you get when you are trading bitcoin or really anything else. there are always risks involved in this and you have to accept them. and what you are asking here goes both ways. the same way the price drop may mean losing money, price rise means a lot of profit. and that is why anyone who ever invested in bitcoin wants.
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it is usually called FOMO (fear of missing out).
and in any market there will always be people who make irrational rushed decisions like this. these people think of trading as a form of gambling. they think all the profit and loss they are experiencing is purely based on their luck and nothing else. they know nothing of speculation and analysis and make rather random decisions.
in bitcoin and mostly altcoins these people have a bigger portion of the market but as the market grows like bitcoin's their portion becomes smaller and with it their effect on the price.
I was also going to point out the fact that it is normally called FOMO and not really panic buying, although I suppose it can be considered as such. Anyway, just remember that so far no one has lost money by buying the "top" in Bitcoin, although they may have had to wait some time to breakeven again. Case in point, people who bought at the absolute peak back in late 2013 probably felt pretty bummed out in 2014 and 2015, assuming they didn't sell at a loss. However, right about now anyone that managed to hold their 2013 peak purchase is probably feeling pretty good about themselves. I am not saying this will always be the case, but so far Bitcoin has been a pretty safe bet even for those who are inclined to FOMO (panic buyers) occasionally. Panic sellers on the other hand, it is a different story. Those who may have panic sold after the 2013-2014 crash at sub $200 levels would have had to buy back in at a loss. Same thing earlier this year when bitcoin rose above $1000 and under again, people who sold at sub $800 again had to buy in higher. No telling how high it will eventually get, and taking some profits off once in awhile is a good idea, but I wouldn't recommend playing the shorting game as in the long run it seems risky. well buying in a bubble, at the peak or whatever is not a bad thing at all. for example people were calling bitcoin a bubble ever since it passed $1200 (the first ATH) and you can see that them calling it bubble was completely wrong. even if you buy at the peak of the price (lets say at $1200 back in 2013) it is not the end of the world. what you do afterwards determines your fate. for example you could have held bitcoin and said it is too valuable for me to sell at this pong and i don't mind holding it for a long time. or you could have cut your losses, sold and waited for the bottom to buy back. although 2013 was an exception that will never be repeated because of how small market was back then and how MtGox was controlling all of it. |
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yes, and it has already happened! market cap manipulation is just a fun math game, nothing more. that is why every economic expert considers market capitalization a bullshit factor for cryptocurrencies. let's have some fun with numbers, shall we. market capitalization = supply * price = X * Y bitcoin M.C. = $120,831,093,421 = 16,661,187 * $7252.25 competing shitcoin M.C. = $120,831,093,421 = X * Y lets say price is $10 then Y is 12,083,109,342 and based on coinmarketcap there are currently 43 shitcoins with more supply than this number, they just have to pump their coin to a 10 bucks price problem is that cryptocurrency market doesn't depend on simple math there are other factors and whales control that market . OP and I are not talking about "market" and what affects that. the subject is market capitalization. and that is pure math and nothing more. the price however is market related and that is purely controlled by the whales and how much they can pump and dump the coin. sometimes the pumps are as big as going up 5000% and each of those coins have the potential of going up to $10 too even if it means multiple 5000% pumps. there is also the fact that not all altcoins have circulating supply! most of them (like ETH) have premines and their circulating supply is much smaller than the reality. which means their market cap is much bigger than it should be. (aka math game) |
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yes, and it has already happened! market cap manipulation is just a fun math game, nothing more. that is why every economic expert considers market capitalization a bullshit factor for cryptocurrencies. let's have some fun with numbers, shall we. market capitalization = supply * price = X * Y bitcoin M.C. = $120,831,093,421 = 16,661,187 * $7252.25 competing shitcoin M.C. = $120,831,093,421 = X * Y lets say price is $10 then Y is 12,083,109,342 and based on coinmarketcap there are currently 43 shitcoins with more supply than this number, they just have to pump their coin to a 10 bucks price |
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I am from India. How can I sale Bitcoin in a foreign country exchange website and transfer that money to India Bank Account?
India might not ban bitcoin but I have also heard that they are purposing new regulation terms for bitcoin trading, its not banning actually. his question has nothing to do with bans! i don't know where you got that idea from. he is trying to do an arbitrage trade between Indian exchanges accepting local currency and foreign exchanges accepting other currencies such as USD. simply because Indian price is so much higher. and he can not do it simply because if there were any way of doing that, the price would have already come down when others used those methods to arbitrage. |
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