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Would've been easier to analyze if all the coins in question were mentioned but since you tell us it is not doing too well as one of your first investments, my suggestion would be to hold and do nothing more until it has an bullish outbreak which is almost always evident during altcoin rise period.
It would be foolish to sell everything and buying in back again as it would make no sense at all and buying more would be a bigger setback to your portfolio as expectations on the said tokens are not up to the level.
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To be completely honest, Bitcoin is pretty bad for an investment with percentage growth in mind, while not completely being dead. Various altcoins have shown higher percentage growth over the last years compared to Bitcoin which has been doing well itself, but not as good as a few altcoins. Its like Bitcoin is a risk-free long term investment while altcoins are completely risky investments and that's exactly why more growth can be expected from altcoins with a good foundation.
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A major difference between six months ago and now is that there was not much of a network congestion then, but now we are witnessing a huge surge in number of transactions. This has direct influenced the the transaction fees to shoot up as everyone wants faster confirmations.
Taking the above things into consideration, it becomes very difficult to accept Bitcoin as a payment option, which generally involves smaller transactions (<$100) as accepting transactions with less fees becomes a problem and also moving funds becomes all the more costlier.
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Might as well be true with many exchanges shutting doors for new registrations as they are experiencing high load on their servers and even the trade volumes. It is safe to say that Binance comes in as one of the top 5 exchanges in volume and with the increasing popularity of cryptocurrencies, something like this was expected to happen.
A claim like this, maybe true or not, hits front pages very quickly and catches the eyes of newbies which in turn leads to more attention and registrations on the site. A gimmick like this is sure to work all the time in a news-driven crypto world.
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What other coins you guys think can be viable option for crypto based casinos?
With high network congestion on the Bitcoin network, it is safe to say I would be preferring Ethereum as the best coin for gambling. It is already being accepted in almost all major casinos which makes it an ideal replacement for Bitcoin in the gambling sector. Raiblocks is another coin that have no confirmation time and zero fee and I think it will be accepted in some casino soon because nobody wants to wait for hours to get confirmation and pay high fees just to move coins in and out of the casino.
This is another excellent altcoin that can be accepted by casinos as it there would be no fees involved I deposit/withdrawal of funds, making it all the more viable. I really hope a few casinos will step it up and add XRB. |
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I'm far from a math or Bitcoin guru, but I have a quick question. At 185,000 unconfirmed transactions and 100 transactions a second, if we all took a chill pill for 30 minutes, wouldn't the BlockChain be clear? Thanks in advance!
Its a hard thing to do, asking the world to take a chill pill and stop transacting Bitcoin for even 30 minutes. At the current rate, considering a block is mined every 10 minutes on an average, 2500 average transactions included in a block and the whole world taking a chill pill, it would still take 12~ hours approximately to completely clear out the mempool and not to mention the innumerable 1-50 satoshis/byte fee transactions which miners despise of. If u want to speed up confirmations u can use this tool www.confirmtx.com website will speed up bitcoin transactions if u provide hash code in the box provided Read the OP properly before spamming with your transaction accelerator posts. |
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With many renowned exchanges closing registrations for new traders recently, it has been a hard time to find proper exchanges without any problems. This has directly influenced trade volumes of various coins and also is price.
Once registrations reopen and exchanges are back to smooth functioning, its going to be a honeymoon period for majority of coins as trading will come back to normalcy. It's expected from exchanges to take longer off-times for maintenance, to set up features required by the users of the site.
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Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?
Yes indeed it is one of the smaller factors that is playing an influence on the price right now. With how much cryptocurrencies have grown from the past few years, even traditional stock traders are switching over to cryptos due to the immense potential of making thousands on an everyday basis. Exchanges have to step it up in order to facilitate users for offering their best with increasing demand. |
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If Bitcoin was NSA, this very forum where we are discussing about how NSA is behind everything wouldn't even exist. They've always been known to suppress everyone who talk about or against them and in this case, this forum is a place for rational discussions even about the accused organisation itself. It's all conspiracy and nothing more to it unless I see actual proof.
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In my opinion, bitcoin prices will skyrocket against the dollar, and it can be said that bitcoin can be a protector amid the economic downturn because by investing our economic stability will be maintained.
How can you say that it would rise amidst all the chaos that would happening in the markets during a financial crisis? Demand would be on the lower side due to the uncertainty factor of what might happen to cryptos in future and this world certainly cause a plunge in the price. Again, we've not seen a global crisis for a pretty long time now and I hope it continues this way but if at all it happens, we have to just wait and watch as things unfold. |
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Just wondering how many of you still hodling it, and how many of you still have faith on this coin?
Not a worthy coin to hold as most of the coins that are even trailing it will eventually end up beating it at one point. After the creator himself sold all his LTC why would anyone believe the coin has a future? There are much better and potential coins hold onto instead of LTC and being neither a holder nor having faith in it, I suggest to sell it and move on to other coins. |
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Pretty much expected from big corporates to slowly remove Bitcoin as a payment option because of all the problems that has been hindering it lately. This move comes after Steam decided to stop accepting Bitcoin.
Firstly, the transaction fees is unbearably high making it unviable for adding small amount of funds. Secondly, the price fluctuation on a daily basis is pretty big making it unstable. Lastly, volatility concerns been raised.
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Whatever strategy you come up with while gambling, the ultimate result whether you make away with profit or lose it all is determined by sheer luck. Of course set strategies like Martingale can be profitable but there can always be that red streak which can gobble up the entire balance. For me, I stick to my own strategy of playing at 1.15x multiplier while switching sides for each bet and occasionally risking much higher than the base bet.
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As long as you're in for the long haul, it is always the right time to buy Bitcoin and hold. Statistics from over the years will clearly show you the enormous growth of Bitcoin and this seems to be a continuing trend.
If you're trying to day trade, look at the period where Bitcoin seems to be dropping off for that day and make a buy when you think the time is right. This can't guarantee profit as it is risky in itself but learning comes with experience and getting a rough idea of the market trend always helps.
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As of right now, micro payments are almost impossible to make because of high transaction fee situation caused due to network congestion. The fees you pay for the transaction would overshadow the actual amount being sent making it useless to do so.
Then again, as LoyceV said above, Lightning Network would be the optimal solution for this problem but we just need to wait for it to go live so we can start making using of it.
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Bitcoin has given this world a lot of millionaires all of a sudden. Early adopters who invested very long back are swimming in money as of today because of the humongous price soar. As they went from very little to huge, it is also unto them to use a small portion of the fortune for the betterment of the world. This directly means that they would be using the money to increase the standard of living, not only theirs but the others' as well. Lets hope most of them turn out to be down to earth and not greedy.
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Is this something like Coinchat which used to give out mBTC rewards randomly to chat participants? Of course that was pretty long back but something along the lines would definitely have me tingling with excitement. As of right now, I don't see any purpose for the website but I'll wait for updates and I hope you try to pull off another Coinchat! Anyways, good luck with this. |
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Bitcoin could mean a lot to third world countries in terms of growth and development. I don't think the citizens of those countries would necessarily need to be using Bitcoins as we're talking about countries that can't provide full accessibility i.e proper internet services. Central banks of these countries can invest a part of their reserves into Bitcoin and taking it out a few years later would give them more money (that is if Bitcoin grows) instead of traditional USD margin.
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Hi Guys
I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.
So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.
My portfolio currently looks like this....
43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....
I think that both XRB and PRL can double easily this year.
This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.
What would you do if you were me? When do we call it a day and give up trading?
Many thanks for your help in advance.
Damn that's some profit you made there with a very unique portfolio. Every single coin mentioned has a bright future, so you could just hold onto everything and wait till it grows to $1M or just sell half of it and play around with the other half. Either ways, your majority investments being XRB and PRL is just crazy as both have high potential for growing. |
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