... the price fall is more than the rise
WRONG. you need to look at the bigger picture. right now you are just looking at a short period of time where bitcoin price has came down a little. if you look at a couple of months you can see a rise from ~$880 to $2900 and right now it is sitting between $2200-$2400. even if it falls more it will still be much much higher than the couple of months ago. with that said, did you get your answer to why people hold bitcoin I agree with BrewMaster. In situations like this, it is important to consider the bigger picture which could symbolize the long term effects rather than the subject of the picture alone or what depicts to be the short term effects of the Bitcoin downfall. We should all remember that Bitcoin is highly volatile and with that being said, anything can happen in a short span of time; but always know that these changes are temporary. Just like what BrewMaster said, Bitcoin will fall in greater heights but it will surely rise to a higher rate that it may exceed our expectations. This is why people hold on to their Bitcoins despite the thought of its continual decrease, when Bitcoin recovers it exemplary recovers. It is worth the patience of holding on rather than just selling it. |
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The circulating supply of Bitcoin can be increased. This can happen as more people spend their coins, and as more coins are mined. However the overall amount of coins that will be created cannot be increased as its capped at 21 million. This is how Bitcoin was created and won't change.
I agree with Ch1bi. We will be able to collect, spend, and retrieve coins but one thing we should remember is that it has a limited supply. The only thing that is increasing may be the number of people who uses it or there is an escalation on the people who mines it; basically the demand for it will increase but the amount of Bitcoin we have is definitely finite (as Ch1bi mentioned, there are only 21 million Bitcoins that is produced and is in circulation). Despite Bitcoins numbering into millions in amount, the demand for it has constantly increase making its value greater. In a nutshell, the volume of coins can be increased but this will degrade its value. So in order to preserve its worth, it's better to maintain its original volume. |
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It will be quite challenging to teach kids something that is not of their priority and may be too complicated to comprehend at such a young age. Growing up, money was something that I never thought of as a kid. The only thing that came into my mind is the latest toy that came out, what color I should use for the drawing, and how can I skip nap time so I could play more. I don't think that kids that are so young or even those who will enter their teenage years would be interested in talking about mining, trading or Bitcoins. Think of it this way, adults who wants to try other investment ventures has to do a lot of research about Bitcoin in order to understand its structure. Despite the effort, some fail to do so for they cannot fully grasp its concept; what more if it was taught to kids whose minds are rich in imagination but may have a hard time understanding such a complex subject?
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Honestly, the final price of bitcoin is unknown. There are several factors that influence bitcoin price and these factors keep on changing. Like for example, the adoption of bitcoin in every country is increasing thus, this will give demand to bitcoin and increase the price. But once the target price is reached by many holders, they, then sell bitcoin that will definitely make bitcoin price lower. Bitcoin price will forever fluctuate so we cannot tell how much will the final BTC is.
Due to the volatility and uncertainty in Bitcoin rates, it is quite challenging to determine the final worth of Bitcoin. Studies, research, probability tests, or certain analyzations may be done in order to know it's final value, but there are chances that this may gain various errors as the fluctuations in Bitcoin rates may be sudden or unexpected at times; to which can totally affect the results garnered. As BitcoinPanther mentioned, factors that influences the Bitcoin price constantly changes from time to time. Not knowing what the final price of Bitcoin may raise the eagerness of people to continue buying or investing it for they are challenged with how Bitcoin works. Hopefully by the time Bitcoin reaches its final worth, everybody will be satisfied with its value. |
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Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
To first world countries who can assure that every citizen is financially stable or supported by the government, there will be minimal complications when it comes to allowing the use of cryptocurrency and disregarding the use of paper money. What will be affected most is those who belong to the third world countries since some of the people belonging to that country may not have any access towards their (supposedly) money. I agree with each point of Hydrogen and how it can devastate the economy of a third world country even more. The exctinction of paper money will highly depend on the capability of a country to handle the situation because it will bring a great impact towards its users. |
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It's never too late or too early. All that matters is understanding what you are investing in and why. Will BTC outperform the stock market over the next 20 years? If you think so, then it is obviously not too late at all.
As always though, diversification is key. A balanced portfolio should includes multiple asset classes, and as long as BTC is viewed as one of those asset classes then I see no problem with it. Dumping all your savings into BTC and hoping for the best, is obviously not s strategy, but pure speculation.
Cliché as it may sound but the saying "it's never too late to try something new" and "age doesn't matter" is something that is very applicable in this situation. As Marileno emphasized on what he/she said, what matters most is the capacity to understand the concept of Bitcoin. When one truly comprehends the structure of something, then dealing with it won't be a problem. Awareness to its value is also important as you need to make smart choices when it comes to your assets. So with regards to the situation, age or time should not be a limitation in investing through Bitcoin. |
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You're not the only one.
I'm watching the price multiple times per day just to get a good feeling when the price is growing.
It is actually really bad because when the price is dropping I get a bad mood.
I have been keeping Bitcoin for more then 4 years so my profit is high but I get used to peak prices.
Which is bad because a drop in price feels like a loss when in reality it's not.
I don't literally check its actual price, but what I do is I check my wallet everyday and see how much it has changed in value if it is to be converted into fiat. My wallet has this conversion icon which makes me notice how much its value in fiat form has changed day by day. I may not be checking the price of Bitcoin daily, but I guess looking through my wallet often and seeing it increase in fiat value from time to time is also similar with what you do. Just like Aura, I get very giddy and happy when I see how much my Bitcoin increased in price knowing that its rate wasn't that high as the last time I checked. I also get sad when I see that the fiat conversion is lower than how I expect it to be. I feel like I lost so much, but the truth is its value just decreased and my Bitcoin is still intact. |
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Keep buying!!!
LOL true, but this is only half of the battle. We need more adoption to keep us alive; things that arent popular tend to fade eventually, no matter how many enthusiast are interested in it. we have to move bitcoin away from niche into the main light; we also need to expand the demographic that uses bitcoin farther than younger white males. if we make bitcoin part of the infrastructure of something, as long as that thing persist, there will be a reason to maintain bitcoin. bitcoin in iras will do well to keep it alive, there is an incentive. I guess that one of the simplest thing to do to keep Bitcoin alive for such a long time to the point of eternity is by using, buying, investing and trading it. However, as Greenbits pointed out this is only half of what we can fully do to preserve the essence of Bitcoin. I think that what's more important in order to keep it alive is to raise awareness towards this currency to allow its usage and accessibility to everyone. With knowledge in Bitcoin, people will begin to rely on this currency urging its usage in different aspects. With knowledge, mass adaptations may be done so that its handling and acceptance will be widespread. If more people uses it, the more chance it will stay alive for a long time. |
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The decrease in Bitcoin was a situation that is supposedly expected or something that was foreseen since most of those who owns Bitcoin are aware of its state, however it's low rate still brought shock to its users. The crash did not last long but it surely did cause a panic to some, urging them to do impulsive actions which may not be beneficial for their side since Bitcoin is slowly recovering now. So with regards to its recent downfall, it has already stopped and Bitcoin is now in the process of its recovery. In considering what the future holds, a sudden decrease in its rate is still and will always be a possibility. It's recovery however may be the critical part since many factors are working for it. Only the situation and maybe time can tell when the downfall of Bitcoin may end in the future.
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Bitcoin is a very profitable asset,but we can`t compare it with stocks and real estate.
Sooner or later the tremendous btc growth will slow down or even stop and we have to be ready.
This might happen after a few years or maybe next year.
Some assets provide less risk and less profit and other more profit and more risk.Bitcoin doesn`t fit anywhere and i can`t consider btc a risky asset.This will change in the future.
Bitcoin may have brought so much advantages when it comes to its investment aspect, however I think that it is still far different from stocks or real-estate. I could not say that it's any better due to the physicality and attainability of Bitcoin, but somehow maybe Bitcoin may get to the stage where it can be as valuable and stable as those platforms may be. They differ in various aspects which is why it is hard to compare its overall structure with one another. A point to consider as well is the preference of the investors. Some may prefer taking on the challenge of the volatility and may be risk takers to gain growth, while others wants assurance through stability. These factors should be taken note and may be deciding factors on which they would rather choose to invest on. |
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1BTC is a HUGE value to earn. I used to say that Bitcoin has such a great value since it is represented by decimal numbers and when it is converted to fiat, it just has the ability to reach thousands and thousands worth of money. People who owns 1BTC in my perspective is technically very rich that they have such amount in their wallets. If I were to receive 1BTC as a gift from someone, I would feel like it's the best holiday ever. You just don't receive 1BTC that easily, so I guess I would hold on to it and keep it as a priced possession. Hopefully, I would be able to make it bloom in time so that it would multiply in value accordingly.
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Just imagine, how precious is the time for your life? What a valuable time for your financial development. You have the possibility to become a rich person if you try to manage time in a very efficient way. An hour for you could be equal to one month for others. When you waste an hour, you're wasting a month's time for someone else. Therefore, arrange yourself in such a way that can really take advantage of time well.
The quality of time you have will elevate you to better financial condition. If you value time, then time will also appreciate you. Therefore, the English proverb says "Time is money", which means time is money. Pepeatah has a tremendous meaning, which will change your life for the better. The price of your time is the same as the price of money yo
I couldn't agree more. Efficiency should be the relating factor between time and money in order to maximize or get the most out of it. It is usually through time that one can attain something that holds a great value (in example: money). Time can easily dictate how much you deserve to earn, or it can simply define the growth your money can make over time. Time plays an important role in the various opportunities your money can have, so the best thing to do is be efficient as much as possible to gain more than what is expected. |
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If this is to be possible, it will truly be a HAPPY new year indeed! This will benefit those who has been saving their Bitcoins for the longest time, as I know they have been waiting for this rate to happen again. However, this price is quite high and may be unattainable in a short span of time given that the volatility of Bitcoin can be very unpredictable. As we all know, the rates of Bitcoin recently experience a drastic decline and is slowly recovering. Hopefully it will continue to do so through time. One thing to keep in mind is that we learned through Bitcoin that nothing is impossible, one day the rates can be so low and the next it can exceed our expectations. Let's keep an optimistic mind and hope that we can achieve this rate for the benefit of everyone!
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If bitcoin will be used as our daily payment is it possible that schools will be accepting it as payment for tuition fees? And if it will be accepted they need to teach the students the use of bitcoin and give the knowledge to use it and how it works.
In my opinion, if educational institutions accepts Bitcoin as a mode of payment, it will only be beneficial to their part. Here in the Philippines, schools are exempted from paying tax. With that being said, the government would not have any control on Bitcoin since they don't benefit from what the school earns. I don't think that even though the government does not have a hold of the school's income, they would allow them to receive another form of payment. There will always be a way for the government to control things somehow. There will also be a conflict since Bitcoin prices tend to be volatile. With the government not collecting tax from academic institutions, I think that having Bitcoin as a mode of payment will still result to converting the collected Bitcoin to fiat which will then defeat the purpose of this currency. |
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just be creative.
the easiest way is to do social media and signature campains on this forum.
you can also try trading if you have good skills.
think of it as an ordinary FIAT currency and try to start a project based on BTC.
when you make some BTC just hold it.
I guess the best way to make Bitcoins (if that's what you mean) is by maximizing your skills so that you will earn the worth of what you can do. There are many ways you can earn Bitcoins that can be converted to fiat in time. All that matters is you do what you are good at. Just like what khaled0111 said, you can earn as easy as joining in signature campaigns or social media advertisements. With this platform, you have to have good grammar and writing skills so that you will earn and reach the quota by the end of the campaign. Trading is also an aspect to consider, but it can be quite risky. You have to be very smart and strategic when you want to earn through trading or else, you might end up losing more than gaining. Others involved mining or gambling which requires certain strategic skills as well. Just figure out what you're good at and maximize it so that you'll earn and at the same time enjoy what you're doing. |
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October 29, 2017 Bitcoin price ranges from $6,000 - $6,100 and today, bitcoin price is now $7,000. Are you surprise?
I think, if only those people who planning to invest in bitcoin manage to notice this sudden increase. I think there is a high chance that they will start investing.
It was a few weeks ago when Bitcoin had a rate that pleased everybody. This was the time when everyone expected that Bitcoin price will continue to prosper and rise as time passes; however due to an unfortunate circumstance recently, Bitcoin prices decreased. I think this is more of a surprise since we have all been used to the prices of Bitcoin increasing gradually over time but now in a short span, it reduced drastically. Right now, Bitcoin is slowly recovering. Hopefully, it would continue to do so and have a stable growth as to not cause any panic to its investors. |
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This is one of the noises in my local crypto group. People are talking about it: how the Philippine Central Bank is actually supporting Bitcoin. A local media network covered an interview in English. Here: https://youtu.be/7g-Y541EyhIBased from the video he has shared, this is actually something to be happy about of since it is a sign that the Philippines is open to progress and development. For the Central Bank of the Philippines to recognize Bitcoin and establish a circular that allows the disappearance of the barrier between fiat and cryptocurrency is a giant step towards innovation. Although it can be quite a risky step to take and may still need some improvements, the initial move of the Central Bank of the Philippines to establish a platform that involves Bitcoin will allow the awareness of people to be raised, which will hopefully lead to education towards the structure of Bitcoin. I am hoping that this project would be successful and would not lead to waste or any forms of corruption. |
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Everything is always temporary and Bitcoins price constantly fluctuates so basically the price drops are temporary as well. Time will tell and Bitcoin will then again reach a new all time high again before December comes. But since the Segwit2x was cancelled, it changed the pathway of Bitcoin and made way for the Altcoins which are now trying to increase its price while Bitcoin is slowly decreasing.
The sudden drop of the Bitcoin rate was a little devastating to handle since there were a lot of rumors about it that caused people to panic and do impulsive actions, which may or may not result to their advantage. I believe that what Ewox said is true, we should remain optimistic despite of the circumstances Bitcoin is currently facing. We are all aware that the nature of Bitcoin is truly unpredictable due to its volatility, however we also know how great Bitcoin is when it comes to recovering and having its comeback. Hence, in this time of despair due to the huge price drops, we should remember that this is just temporary. It may be worse, but let's attract the positive vibes so that the outcome of this situation will be favorable to us all. We just all have to be patient and things will be smooth again, sooner or later. |
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Bitcoin was invented about 8 years ago and I think that amount of time despite it being considered a big range, is still not enough to fully understand what Bitcoin is about. With the lack of knowledge towards this platform, there is now wonder why the only mode of payment here in my country, the Philippines, involves fiat. Given the said situation, the acceptance towards Bitcoin can be quite slow since it has no value here. Maybe the only way we can spend our Bitcoin is through foreign online sites or even use it for trading or gambling to allow it to multiply. Hopefully one day, we can maximize its consumption to the fullest.
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I think this question can be quite subjective, the answers of people may vary depending on what circumstance they may be in. For example, people who experience the benefits of Bitcoin and has access towards this kind of platform may prefer using Bitcoin rather than fiat. This is because Bitcoin has allowed efficiency in transaction especially through the internet. On the other hand, those who does not have access towards Bitcoin, or may not have any idea about this platform will certainly choose with the traditional paper money or fiat. Fiat would be more patronized to these kind of people as they don't see the value of Bitcoin.
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