is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Absolutely true, why in earth you will turn all your money on bitcoin? What are you going to use in case you really need cash? And its really risky because of the volatility nature of bitcoin. What you can do is to divide your money, put some on it to bitcoin for investment and leave some on your bank account or wallet. Only invest what you can afford to lose. |
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I do believe hackers can hack our bitcon wallet if we are not careful enough to secure our passwords as well as email address associated with your log ins. We should be careful on keeping these information because hackers are anywhere. Don't believe right away on what you see in fake websites some are just a click bait,asking for personal information before giving you free bitcoins. So we all should be vigilant all the time.
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I never tried buying bitcoin and will not going to buy while the price is still high. Anyways I still can't afford to buy bitcoin this time what I do to gain profits is earning bitcoin through signature campaign and i invested some of the payments i received. Maybe one of these days if bitcoin price will decrease i might buy because they say its the best time to buy bitcoin on its lowest value.
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Yesterday I just lost 1.8k USD, maybe in USA or in West Europe that's doesn't much, but here in my shitty country that's a f* big amount of money. Here the minimum wage is ~ 300 USD / month. So that's like 6 month of work if I cut my bread and water and live on air. Half of my saving were other investments, but anyways... I'm feeling shitty right now. Oh, and I break my laptop. So yeah, that's another - 500 usd.
I though I can trade. Buy low, sell high. Sounds good, doesn't work.
Looking at the charts and candle sticks and watching old bitcoin values, and huge spikes (pump, I saw here how people uses the pump word, daaaamn...) I was... yeah, I can totally do that. I'll just buy when it's low, and sell it when it reaches the top. Well, I was wrong. You can't see the future, otherwise everyone would be a millionaire. That would be true if you would have a delorean from '85 with Emmett Brown and Marty Mcfly and you could f* travel in future and see the PUMPS!!!1
So anyone who will read this message (noobs like me) if you don't have any trading experience, don't do it. There are expert traders who know how this market works, when to buy and when to sell. Don't assume your skills by watching youtube videos and reading "daily indexes and predictions" of how the price will rise or go down by shitty sites. That's just dumb. You don't know what's gonna happen. Maybe a little bit of luck, or I don't know.
So yeah, from now on, I'll just leave the trading area for experts and I will invest in bitcoin by buying every 2 week or monthly and saving into my wallet. And one day (I hope so) the price will rise and I will buy for my self a delorean.
Cheers!
That's a huge amount of money you lost man! After reading what you've been through I am now doubting my self to try trading. I've been reading some threads here to get ideas and enough knowledge about trading before trying because Im also scared I might lose a lot of money if Im not doing the right thing. Well i think i have to skip trading and will just focus on holding my coins for now. |
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I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
Honestly I really hate a topic about death because im too scared for that to happen specially to my love ones but i realize that we all gonna lead to that scary situation. So my opinion is if ever I've got a very big amount of bitcoin i will give my husband or daughter an access to my wallet just in case in an event i will die suddenly. To ensure that my bitcoins are safe and they can use it when im gone in this world. |
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I think not lose the value but decrease the value. Because of bitcoin nature of volatility it is normal that every now and then the value will decrease and increase back depends on the demand and supply, but the important is if it increases back the value multiplies. So what i learned is not to panic right a away and hodl.
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I do not think that bitcoin will have a final
worth because it will continue to move and
surge in the upcoming years.
Yup we cannot predict the final value of bitcoin because of the volatility nature of it, but im pretty much sure the price will be very high in the future. What's important to me is as long i can get benefits from holding bitcoin (like gaining profits from bitcoin investment) It doesn't cross my mind how much will the final value be worth. |
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I doubt if this will happen soon, maybe in the future if we advance in technology, we can replace fiat money with crypto currency. The government wouldn't allow cryptocurrency to take over fiat money because they would lose control over it. The government controls fiat money and since bitcoin is decentralized, it would give them a hard time if cryptocurrency will be the main currency that would be use for transactions. Indeed the government wont allow that to happen also because not anyone can access to internet where mostly bitcoin transaction is used. The poor population who cannot afford to buy electronics and connect to internet will suffer if dollar is replace by bitcoin. And I think not all are interested about this digital currency, its a big hit for the new generation but not for the old ones. So i think its not going to happen any time soon. |
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That's quite strange. I guess the idea of crypto currency itself denies the idea of having any bank (if we speak about a controlling organization). Or otherwise it will turn into a usual financial system, and I'm not sure that's what bitcoin users are waiting to happen.
Yes it is absolutely strange, i disagree on this "bitcoin bank" what is the use of bitcoin being decentralized if we use a bank to store bitcoins?We have a wallet adress that are secure to store our bitcoin,we can also grow our money by investing in bitcoin. Bank is for paper money only in my opinion. |
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Paper money will always be on our lifes, and we can not change that.. There is no need to have electronic money, maybe this is a good tool for all of us, and we all love bitcoin, but physical money can not be replaced, all those people who are not adapted to debit/credit cards or just cryptos, can not imagine a life without their paper money, and it can not disappear in just matter of a few years.
Yes, I do agree with your statement that paper money will be in our life forever, bitcoin cannot replace it but can co exist together. We know the fact that bitcoin has a very big potential in the future specially to our economy but we also know that not everyone are interested about knowing bitcoin. Its not applicable to everybody maybe by choice like for example those people who cannot afford to buy electronics and internet how can they use or earn bitcoin if they dont have the source right? So i think we will still be using fiat or the paper money in the future. |
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The obvious difference is bitcoin is a digital currency, you can only use it through online transactions unless you convert it to your local currency. While real money can be use anywhere specially on a physical stores. Bitcoin is a good option to store your real money and gain profits because of its value, the price of bitcoin is increasing day by day thats why its also good for investment. Though they are both currencies but their functions and uses are slightly different.
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Those advantages of bitcoin are the real reasons why we should have bitcoin. Bitcoin also possesses anonymity and anonymity in the web is power. This is another advantage of bitcoin that many people are interested in.
If we make a comparison between keeping of bitcoin and keeping of cash, then I believe the only one point will clear all our doubts and that point is bitcoin can help you earn much more cash than your actual cash. On the other hand, just paper cash cannot help you earn anything especially when you are just keep it. Yes that is true,the good features of having bitcoin is you can grow the value and gain some profits from it unlike cash or fiat. But the best thing of having bitcoin is you don't have to bring a physical wallet with you,it will save yourself from robbers and snatchers unlike bitcoin all you have to do is use the internet and just click. And your wallet is protected by password so even though you lost your electronics they can't still unlock your wallet. |
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Bitcoin Talk Name: LordDisick
Rank: Full Member
Post Count (including this post): 145
BTC Address: 36Pv8zQnw1nz15LtfzLEjSkCUYbYcZmGQY
Wear appropriate signature: Yes
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I just always wonder if those billionaires still invest in btc. Do they even know btc exist?
Yup I think so some of them invested on bitcoin because they wont missed an opportunity to multiply their money. Regular citizens invested on bitcoin how much more those billionaires. Thats why we should make them our inspiration. |
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Kids now a days are internet savvy,curious and fast learner so its not difficult to teach them about bitcoin. If they show willingness to learn so its going to be easy to teach. But still patience is needed when teaching kids because they tend to ask a lot of questions. Its a good idea to teach them young so that when they become adult they can handle money easily.
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
Its not going to be fair to the poor specially to those who cant really afford to buy electronics. Imagine what are they going to use to access the internet and use the digital currency. So i think its kind of scary and a lot of people will suffer if that will happen in the future. Unless the government will help to provide them a cheaper electronics just so they can use the digital money but i still don't think its going to work though. |
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When I just started earning bitcoin and got my payment I was so excited to convert it to our local currency I didnt know then that when you convert it means you are selling your bitcoin, I really dont have idea that is how it works the "buy and sell" thing I regretted it so much because I sold my bitcoin without realizing that the price of bitcoin back then was so low. Thats the worst decision i ever made with bitcoin but I learned from that mistake now.
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Bitcoin can be the source for a person to become successful in my opinion. For me being successful is when you accomplished something like for example you dream to be come rich or you dream of having a business. If you use your bitcoin/money to accomplished your dreams then its a success for me. There are so many definitions of successful and for me that is how I define it.
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Well i have a lot of plan for the future with bitcoin but first I need work harder to earn more bitcoin, currently Im on a signature campaign and Im also starting to do trading. I want to become successful in bitcoin because I have so many dreams to pursue someday. I also started to invest in bitcoin for awhile now hoping that the price will go much higher in the coming days so I can get bigger returns.
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I am thinking .. to put all my money in bitcoin what do you think? is it a good way to grow my money? or it is risky or.. ?
Honestly I never tried buying bitcoin because i got all my bitcoins from joining signature campaign. I never touched my wallet unless I needed the money so much. So i never tried putting all my fund in bitcoin and i think its not good idea too, you can divide your money properly for example you can invest 50 percent of your money in bitcoin, you can also trade 30 percent and the rest keep it for everyday use. Well its just my idea but its still your choice and decision how you will manage your funds. |
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