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I'm with Bitcoin for five years now and I've seen better and worse times. The price was much higher, yes, but also there were times when it was much lower.
So I'm planing to stay, there is no doubt about it. And believe that many long time users will do the same. Besides, Bitcoin is not only about the price.
I don't find current situation as a kind of catastrophe for Bitcoin like some does. But they obviously forget that Bitcoin is volatile and price is changing all the time.
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Every source of income can make people greedy. Money influences bad on people becuse once they get a lot of it, they can't never get enough.
The truth is that many traders don't keep that in mind and just forget themselves. Greed makes them to get very strange decisions.
But if you are wise and skilled enough you can get continuos profit. You will not get rich but it will be a nice income and in that form Bitcoin is completely sustainable. The key is to find the right measure.
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I always prefered to use Bitcoins as a payment and currency and somehow I beleive that is its main purpose. Alternative currency and payment method confronted to conservative fiat currencies.
To use it as an investment was my second choice but I guess this depends on individual preferences and goals.
But I beleive Bitcoin was made with concrete and active purpose and that is payment.
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After not so splendid experience with Mistertango I've decided to register with Wirex and ordered also a card.
What worries me are some comments here on forum that Bitcoin deposits sometimes last 3-5 days which is not convenient to me because when I fund the account that means that I want to transfer my BTC in Euro on the card and use it immediately. Like it suppose to be.
Also I've heard that customer support isn't always the best and many other issues.
So, can you share your latest experiences?
Also, does anyone know if there soon be some real Bitcoin debit card, like Xapo was, so that you don't have to exchange your coins first before you use them on the card but that you can spend them directly from the wallet?
Transferring Bitcoin onto the associated Bitcoin address goes just as any Bitcoin transfer, depending on the fees you use. I had nothing to complain on this. Converting Bitcoin into fiat for the card works in a matter of seconds. So the card is pretty good. I agree that their support has plenty of room for improvement (to say it nice). I had support tickets solved in a manner I almost left Wirex (support members that don't understand how their own system works, don't understand the issue, come with clumsy solutions that make you waste time and maybe money too). I also had tickets solved very nicely and in a professional manner. It's a matter of luck, really... I've got both types in the past two three months. In the past there was a Michael, which could be reached even here on Bitcointalk sometimes. If an issue was not handled well, he came in and found the best solution. But I didn't see this apparition for long time now, I think that his presence would improve the overall perception about Wirex. About other types of cards, I don't know, sorry. Thank your for sharing this information, it's very useful. I'm well aware that issues sometimes appear but important is how it's dealt with them and in what framework. My card will arrive soon so I hope the experience will be good. |
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After not so splendid experience with Mistertango I've decided to register with Wirex and ordered also a card.
What worries me are some comments here on forum that Bitcoin deposits sometimes last 3-5 days which is not convenient to me because when I fund the account that means that I want to transfer my BTC in Euro on the card and use it immediately. Like it suppose to be.
Also I've heard that customer support isn't always the best and many other issues.
So, can you share your latest experiences?
Also, does anyone know if there soon be some real Bitcoin debit card, like Xapo was, so that you don't have to exchange your coins first before you use them on the card but that you can spend them directly from the wallet?
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I have only minimal trust and use exchange only for the purpose they are made and that is trading.
Exchanges are not ment to be wallets, this is not their purpose and keeping coins permanently there represents a significant risk. They might get hacked or even be exposed to internal fraud.
So on exchanges always keep only amount of coins you want to trade in a limited period of time.
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Holding is for those who are not risk takers, don't have enough knowledge and time for trading and are more keen to passive income. It's much more safe option compared to trading.
Day trading is not for everyone, it takes full and constant market presence, excellent analisys and prediction skills and there is still no guarantee that you will be successful.
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In Europe I would say this is Netherlands. They were among first countries to have positive attitude toward Bitcoin and embrace cryptocurrencies in general like something good and progressive. Along with Netherlands another good choice would be Switzerland.
Outside Europe this would be Japan that has regulated Bitcoin in very positive way and as a very technological and progressive country they are opened for many options.
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I dont know did you watch or not, Cliff High published a video on Youtube where he said that Bitcoin will reach 64k price till mid April 2018. I am not sure if it is possible or not but in my opinion price makers wont let the Chinese investors to buy bitcoin such a cheap price like 7k-8k USD. I am really curious what people on here think about that ?
Bitcoin "died" a very spectacular way ... many times 📉-94% June-November 2011 from $ 32 to $ 2 because mtgox hacker 📉-36% Jun 2012 from $ 7 on $ 4 linod hacker 📉 -79% April 2013 from $ 266 to $ 54. Mtgox has stopped trading 📉-49% February 2014 mtgox crash 📉 -87% from $ 1166 on $ 170 November 2013 to January 2015 📉 -40% September 2017 from $ 5000 on $ 2972 Chinese ban 📉-68% December 2017 for now. From $ 20500 to $ 6,100 JOIN OTHER PEOPLE WHO WILL ENJOY Exactly, according to.some Bitcoin dies with every biger price dump. So, how many times can Bitcoin actualy "die"? This just shows how prediction of Bitcoin price is actualy guessing and despite all analysis and so called expertise the majority of them don't have any actual ground and basis in something that is measurable. The point is not to rely on such predictions and don't make your decisions according to them. This might end very bad for you. |
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As long as is the strongest and the most valuable cryptocurrency it will remain the point of reference.
And at the moment I don't see any other cryptocurrency that could take that position so for a long time the value of all other altcoins will be compared with Bitcoin.
No matter to some issues that has Bitcoin is still setting the standards for other cryptocurrencies and no matter how how some wish that Bitcoin will be removed from the throne this will not happen.
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Probably the answer is very simple, they don't have relevant business case. Just because something is popular and will bring profit to one company that doesn't mean that is also good choice for some other.
Probably they have estimated that such project would not be profitable and cost benefit for them although it might bring them some extra popularity.
But there is no rush with time maybe the circumstances will change and they will make different businesses decision.
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Social responsibility is something that people very often forget. Even those who got their wealth with cryptocurrencies which to my opinion promote different philosophy that fiat money.
And the point is not to give something and ask or expect something in return but to give from pure altruism and because that makes you feel better knowing that you have helped someone. That is the general idea so I definetely encourage everyone who can to give some part of their cryptocurrency profit for the purpose they choose.
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I don't think there is mass selling happening. Maybe at the begininig of this latest dump but now not anymore. Most of the users have accepted current situation and now are waiting what will happen next and how the price will move.
Anyway, those who are on constant fear of loss are selling always as well those who need fiat money. But remember that not every Bitcoin selling is bad, it depends on circumstances.
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So far I don't see too much panic among the users and at the market which is good but still it's possible for Bitcoin price to fall lower.
Nevertheless if that happens I don't expect to go under 5000$ in the worst scenario.
To my opinion it's more likely that price will stay in the range of 6000 to 7000$ for a while, at least another month or two and some more significant changes in price we can expect closer to the end of the year.
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This question is not unique for all countries and mainly depends how Bitcoin is or is not regulated in each particular country.
So far in most of the countries you don't have to pay tax on Bitcoin if you just keep it as an asset. But you do have to pay taxes on Bitcoin transactions or Bitcoin business if you have it.
I don't think that the regulation would be such that you have to pay taxes on Bitcoin holding and for tax authorities that would be hard to track and monitor so I think tax payment will remain only on Bitcoin traffic.
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Mobile phones are geting prevaled computers and laptops because they are more convenient and you can carry them with you everywhere and on the other hand they are like small computers so you can have actualy your whole life on it.
So, yes, I think that payments with mobile phones are the future even when we talk about Bitcoin and other cryptocurrencies.
There are realy good mobile wallets like Mycelium with good safety features. With high usage and mibikutyobility demands they will get more developed and more safe so I don't see that as a problem.
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I agree that blockchain is technology with huge potential that can be applied in so many different types of business and industry. And it's true that many people are not very familiar with it and don't know how it's actualy functioning n
But on the other hand we shouldn't put cryptocurrencies left a side. Although it seems like everyone knows about cryptocurrencies by now that is in fact not like that and blockchain and cryptocurrencies shouldn't be divided but promoted together.
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I'm not happy with this new decision of Mistertango. They are not cheap anyway and now I will have to pay monthly fee if I want to use Bitcoins deposit?
But they are only using the gap on the market in their favour. There is no big choice of Bitcoin debit card providers and the situation is actualy take it or leave it. Hope this will change soon.
I would also like to add that I had huge problems with their card this afternoon. In several stores the card was declined or double charged and it was almost impossibe to make the normal payments. And this is not the first time so their service is far from good and they charge it very pricy.
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Like everyone was rushing into Bitcoin when the price was 15000$ and higher so now are many selling their coins and pulling out.
To my opinion that proves that many users invested in Bitcoin without having enough knowledge and information having in mind only how to profit and get rich. When the price falls, they have to pay certain price in loss but again many are not prepared and don't know how to deal with that.
You can't force anyone to stay with Bitcoin but you can try to explain how it's functioning, that Bitcoin is the best investment on long term and hope they will have enough patience. But there is no guarantee it will work.
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What do you mean by important wallets? Don't quite understand that category.
And remember that exchanges are not wallets, their purpose is not to keep your coins there but to trade them. If you will keep them there they are vulnerable and might be exposed to hacker attacks.
So chose hard wallets for most security and don't keep all your coins in one wallet.
To choose the most popular or best one by choice of users explore some themes here on forum in techical discussion.
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