Here are the reasons why Bitcoin is not suitable as a currency:
1. It is protected against inflation and therefore the purchasing power will be intact. The users have an excuse to hoard them.
2. Long delay in getting confirmations (up to 1 hour, compared to a few seconds for PayPal, Visa, Master.etc)
3. Unclear legal status in many of the countries
4. The transaction fee can be high, especially for small sized transactions
5. Difficulty in converting crypto to fiat, and vice versa
yes, the issue of legality has always been the hardest part of it. not all countries recognize bitcoin even though its existence is even better than fiat. on the other hand, volatile prices also pose a threat to cause economic chaos, and the other thing is, transaction costs are also sometimes high. I think it's quite difficult for those who have not so much bitcoin. Even today, bitcoin still raises many challenges from other countries / other organizations. it will be difficult if bitcoin becomes a currency for daily use, although I think many times fiat is better than bitcoin, for my own reasons I prefer bitcoin as an investment. |
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Actually if we look at the price pattern from the beginning until now, bitcoin has a pase where prices have corrected and recovered by themselves but in a period that cannot be determined, now bitcoin is experiencing this correction we can use as an opportunity to buy at a low price and sell it later when prices recover and skyrocket.
yes i agree with you i think bitcoin has a certain pattern. there is a downward trend and there is an upward trend. at the time of 2017 yesterday bitcoin experienced an upward trend and currently we are on a downward trend. this provides an opportunity for new and old investors to add bitcoin. I am optimistic that bitcoin will rise again even though I also cannot be certain when it will happen. I will be patient waiting. of course we must be optimistic in investing, the value of bitcoin will continue to grow, whether in the near or long term. of course every investment has its own risks whether loss or profit. |
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Anyone's guess as to the identity of whom Satoshi is as good as the next.. unless your Craig Wright or any of in his group.
For all we know Satoshi could be 1 person or a group of people.
We may never find out or we might find out tomorrow, in any case there's too much emphasis put on whomever Satoshi is.
Bitcoin and it's future is all that matters and I think that's why Satoshi doesn't want to come public.
so true. in my opinion, this was thought out carefully by satoshi because his identity did not want to be revealed because it might be a waste of himself. and reduce the decentralized nature of bitcoin if the identity is revealed. |
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Do not invest in the coins that are gone obsolete and the trading volume is gone very low. So, if you are goin to invest for the crypto then choose the best top 50 coins which has now a decent traded volume and also have a good market cap.
it's true, don't invest in coins that are outdated, because there are many risks that we will face. but not a few occur the possibility of coins that are obsolete into coins with high prices, because in trading there are advantages and disadvantages, and therefore we must be prepared to accept when experiencing losses. |
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of course, I suppose with SM Entertainment taking steps to create its very own blockchain network, it will have a massive have an impact on on the crypto world, due to the fact we comprehend that kpop music is extensively well-known during the world, of course this has a big have an impact on and will deliver higher crypto, more artists and fans KPOP can be directly involved. |
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Is there anyway I can mine just by using my phone?
I never knew the application for mining on cellphones, I know, miners mine with VGA or cloud mining. that's all I know |
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Using solar energy as energy for miners costs more or less like making 3-5 tools for mining. of course profits will come but you have to be more patient because the cost of making solar energy is very expensive. When usually ROI without solar energy comes within 6-8 months, then using the solar energy should be take 16-32 months.
absolutely right, this will cost a lot and of course there will be results as well. but for as long as it really has to be considered |
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If there is a large-scale or continuous money printing, this will be very dangerous for the economic stability of a country that does this because there can be a significant inflation, a decline in currency prices which will increase all prices of basic commodities.
of course there will be inflation if there is a large-scale printing of money that might affect all currencies and this is not good for economic stability. |
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The forum is full of topics - “When Will Bitcoin Be Back To $...”, “Why BTC is under $...?”, “Final bottom at $...”, “Why BTC is down again?”, “Bitcoin will rise again ?” etc. The last two topics may appear in various forms a dozen times a day.
I looked at graph price of BTC out of curiosity. I have noted to the price floor:
2015 - $200+
2016 - $300+
2017 - $700+
2018 - $5000+
Do you see something frightening in it?
We all can see that price drops because of actions by a Governments and big whales. Because they have the means and opportunities. They want to break into the our market on advantageous terms for them. Okay, well, I mean, that makes sense. We knew it would happen. But why that have to affect us?
In December 2017, the most people said - "Why I didn't buy BTC for $500… for $1000… f#ck it!.. for $2000...", "I will definitely buy BTC if it costs $7k-6k!..". But now when the price drops so well for us, we see "The demand for BTC is dropping". Seriously?!
So, instead to take advantage of the situation, buy up coins and altcoins, attract new people in crypto world more active than before, a lot of people stuck in indecision and think whether crypto market falls to the bottom and stays there.
Guys, are you serious? Crypto world is made by us. Governments and big whales haven’t any tricks to rule our world. It will happen only if we do nothing.
What do you think about it?
Some people are buying bitcoin at very high price and they do still hold it, but i do think the same, that we should not worry cause the history already prove it that bitcoin keep developing and it would be safe as long as you hold your coins until it give you a profit. I think buying at a large price must also be considered because it is also risky, I play more safely when there is enough profit I sell |
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terms of being a currency must be stable. if a currency has a volatile nature, I think it will be very difficult to set prices. this is also the main reason why bitcoin is only used as an alternative. well, besides that, of course the people's finances or economy are changing at any time.
This explanation is very good because of the unstable nature of the crypto currency, this will cause an unstable economic impact on society |
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It is almost impossible fiat to be replaced with crypto. Once the governments see all the advantages that comes with the blockchain tech probably fiat will become crypto.
I think it can happen but sometime when it happened because in various parts of the world fiat money is still being used ... moreover about people who are unfamiliar about crypto they will find it difficult to accept the need for an approach to all groups |
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Even after all Bitcoin yet to be mined gets mined, that doesn't stop transaction confirmation or won't transactions be mined as well and confirmed on the blockchain? To me I think provided transactions are still being made with Bitcoin, there's no such thing as Bitcoin dying. What we will fear is transaction cost being high once again to enable miners cover cost for their equipment and time.
are you a miner? of course transaction costs are very high for equipment costs. this isn't over for miners |
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I think there is nothing impossible for Crypto to replace old finance. but it will seem very difficult because people already use fiat
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Even if there will be a trade war between China and US, even with Huawei and Google problem, i think bitcoin will not be affected and even then will grow and and people will start invest on when see the bitcoin price growing.
Hopefully BTC is not affected by the trade war between China and US. if it is affected by the time to buy and hold until it rises again. hee |
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I think it might be human nature, when people hear discounts everywhere they buy things that are not necessary ... and should when BTC drops or hears bad news don't easily panic and be provoked
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Bitcoin become popular, most of them come from beginer who know internet Tech and Computer. Online shop and mechants Know who they custumer want to fast and practice payment when beginer need it for job and them hobbys. Big merchants has following news about bitcoin and implementation to them payment are great strategy to get new custumer. absolutely right, in the future I believe that there will be many large companies that invest and implement payment systems using btc |
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I invested in Bitcoin only because I was interested in it, but buying and selling cryptocurrency over the years has created me an addiction. Now I'm dealing with regular trading and increasing the number of Bitcoins.
wow, i have invested in bitcoin and crypto nothing is in vain my life is better now. and now I have more time with my family. I am very happy to invest and trad |
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It's possible to get your coins stolen from a hardware wallet but it's unlikely to get hacked if you know how to secure your wallet. This user from reddit made a thread on how he lost his coins after buying a wallet from a reseller. They got in to his wallet through the seeds because he didn't create his own instead he used the words given by the reseller absolutely nothing that can't possibly be hacked we have to know how to secure, we have to know that only we who hold private keys we must be careful in every transaction |
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