The most basic information about blockchain technology and the technical specifications, quantity and value of bitcoin you can completely find on the internet. It is important for the newbie to invest in bitcoins when they buy bitcoin because the bitcoin value is always very volatile |
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Dispelling Some of the Most Common Arguments Against Crypto
Once in a while, every crypto-enthusiast will run into somebody who is skeptical of the industry altogether. People like this usually have never invested before, or did once but lost their money. As somebody who cares about the field of cryptocurrency and has invested several times in the past, it can be mind-numbing and frustrating to hear the opinions of people who have only ever read headlines and soundbites regarding the topic.
Make note, it is reasonable to be skeptical of cryptocurrency and present some well-researched arguments against them, but the people being referred to here are those that know very little about the industry and have no noticeable desire to get acquainted with it.
Here are some of the most common arguments you will hear against cryptocurrency (either from people you know or from news outlets) and some simple responses to them.
“Cryptocurrency is a pyramid scheme.”
Occasionally, I will run into a person who claims that cryptocurrency (or more specifically bitcoin) is a pyramid scheme and that only those who were first to the market will be able to make a reasonable profit from it.
While it is true that the earliest adopters of coins like bitcoin and ether have seen the most significant increases in their profits – this does not make it a pyramid scheme. Pyramid schemes are structured so that subordinate investors must pay or hand over a percentage of earnings to a higher level investor. This is not the case with cryptocurrency— if you head to an exchange to buy a coin, it is possible you will be buying from somebody who is at the same level as you (i.e., they invested around the same time you did). This is not possible with pyramid schemes since the only way to make money is to recruit new members. With cryptocurrency, you can trade and exchange with new or old investors. Also note, the main aim of cryptocurrency is not necessarily to get new investors since the price of a coin does not exactly rise due to adoption. Positive news regarding programming updates, partnerships, and new features can also just as quickly raise the price of a coin.
“Cryptocurrency is only used to buy drugs and launder money.”
This statement is commonly used by media outlets as a way to discredit the entire industry and the technology behind it. The best way to refute this statement is to briefly explain the nature of the blockchain and the sheer level of transparency that cryptocurrency offers. Most people who do not know anything about the industry get the impression that using this currency automatically masks your identity and your movements.
Explain to them that most coins have a global database of transactions which can freely be viewed by anybody. This, alone, is enough to discourage people from laundering money and purchasing illicit substances since law enforcement, the IRS, and other government bodies can track purchases with more ease than fiat.
“There is no underlying. value”
This is a half-truth. While cryptocurrency does not rest its value on assets like gold or land, it instead derives value from its developers and its code. Arguably, this is similar to how legal tender derives its value from its government and laws. Similar to how a decision or press conference from the President can affect the price of USD, an announcement from a lead developer can affect the price of Litecoin.
“It is too late to make money.”
I have personally found this argument to be said by people who only know of one cryptocurrency: bitcoin. Generally, the easiest way to open their mind is to show them that CoinMarketCap actually lists over 1500 coins and tokens. Of course, only a fraction of them are worth investment, but it proves that the industry is expansive.
New coins and tokens are constantly entering the market, many of which shoot up in price significantly after a while. One coin that has not had a long history, but is valued highly, is Nano. The coin only came into existence in early 2017, but in the space of a little over a year it has risen to the 28th spot. The main reason for this is the team it has and the technology it runs on. Finding a new coin with a great set of programmers and impressive code can be one way of making money in the industry. Of course, it is not the only way. The much larger coins like bitcoin, ether, and monero are still considered good investments now— this is because people still think the technology is undervalued. If that is the case, then it certainly is not too late to make money.
Originally published at cryptodisrupt.com
Some people just wont realize their mistakes until its too late. Let them say anything. Some of them just dont have enough knowledge and been joining scam program so they think cryptos are like pyramiding scheme. But do not be like them. Some of them are following the wrong people and fake news from the media. It is hard to convince stupid people. A lot of those "SOME" for sure have tried using bitcoins but failed to make profits from it.but lets just respect those haters point of view about cryptocurrencies and focus more on developing ourselves and making profits from it. |
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I've been listening to lot's of talk people are indulging in these days about future of bitcoin and most of them assume there's no scope and hope for bitcoin. Maybe, Umm Maybe they are right but strongly they are wrong based on the fact the world is moving. Gaint's company and people who are running an organization would never support in the future of bitcoin because they feel powerless when they won't control the money, but because of the power and technology is being used behind this coin they might surrender. Ok, I've been listening to some people saying "We won't be relying on money generated by electrcity" my point is what's the problem in this "Are we going back to the era where there will be no electricity? No Never". As a normal person like you, I believe there' no bad in these coins although they are making our lives easy and saving us from crazy taxes. I'm not a millionaire I think for my every single $ like most people. There is the downside of these coins that I might not aware of but overall it's a good experience for me. Although during my trades I always lost my money never get profit. (I'm bad at my luck or not know how to play) As a resident of Las Vegas, I can see a dramatic change in this cryptocurrency no matter if it's going down but surely will raise based on the growth and usage. If you wear some cool unique dress and other peoples starting to wear the same dress and after sometimes that same dress starts selling on the shops at your city and in the world that means your dress was really awesome. Same with this bitcoins It's been used all over the city. Let me give you some real facts. Las Vegas is the city of tourist and we all know people all around of world came here and these people have good money. Casinos and gambling are the heart of Vegas the moment you step into the airport you will see poker machines and now casino's are accepting bitcoin... Gentlemen's Club in Vegas have started to accept bitcoin. However, not all of them but the point is they realized and started to accept this powerful thing. If you walk to the restaurant and have NO Dollar that's fine you can use your bitcoin to pay for food as Restuarants accepting Bitcoin... I know there are many other big places you will see bitcoin being used I just mentioned places which are most visited places in Vegas. PS: No matter how much the value of coin goes down we still can't predict the future and hope this currency should grow... Your expert thoughts are always welcome  If you are wise you will see buying cheap bitcoins during the crash while earning profit when bitcoins price increases. But bitcoin loyalist who doesnt trade just keep holding their bitcoins for many years until a time that bitcoin reached their expected value then thats the time they will sell some. |
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I have seen all the bitcoin hold for many profits in the future. What do you do for this and say?
Bitcoin is a payment system in its core and we should treat it as a payment system in the first place. I am not against earning games from the speculation activities but I just want to say that it should not be our first motive when we are using Bitcoin. I believe that movement is a growth and hence I try to spend at least 50% of my funds to pay the bills. Unfortunately, we don't have a crypto friendly market environment as of now does I have to rely on online options. |
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Everyone in the crypto space has had people tell them that Bitcoin is worthless or that it doesnt have any true value.
Of course, thats infuriating to hear, but for investors new to the space, its sometimes hard to craft a good answer.
So heres a little cheat sheet for any newbies out there who get this question or accusation:
1. Bitcoin is safe. It cant be hacked because its decentralized.
2. Bitcoin eliminates layers of transaction fees.
3. Bitcoin is fast (especially after the lightning upgrade).
4. Bitcoin provides more privacy than normal transactions.
5. Bitcoin hedges against stupidity from central banks and governments.
6. Bitcoin cant be counterfeited.
7. Bitcoin isnt tied to other asset classes and is a hedge against other investments.
In short, Bitcoin solves massive problems with the financial and political world, and that is its value.
And because its the most tested and has first mover advantage, it has been established as a store of value, much like digital gold.
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@charteroakpublic
- a Telegram channel with leaks from premium sources like Palm Beach Confidential
I think bitcoin is valuable in the sense that government from any country may have hard time in tracing and adding of taxes in every transactions made. Also, there is a cap set of the total bitcoins which limits how much currency can devalue through inflation. It acts like an equity investment where the market value has wild swings in value and even a market cap. |
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Ive read an article about Bill Gates saying that cryptocurrencies kills people. He explained that crypto provokes people to hide thier financial transactions from the government, and revolutionizing terrorism, financial crime etc. Some people use crypto to buy drugs, bombs, guns that are use for drug dealing and terrorism that kills people 'in a fairly direct way' I think Gates is somehow right about this. But i think it depends on the people who are using cryptocurrency, if they will use it in a good way or in a bad way. What do you think? Link: https://www.google.com.ph/search?source=hp&ei=MJaWWv70CoH-8QXDvLO4Bg&q=cryptocurrency#scso=uid_PpaWWoLdHISa0gTusbDYDg_9:117We are in a nutty fucking world right now. To think btc will be the reason for the rise of terrorism and drugs your sadly mistaken MR Gates. Your beloved fiat has allowed this. Constant printing of fiat which are untraceable has allowed this to spring up. The fact that we base a person worth on the amount of paper one owns has caused this. I could go on and on. |
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I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
With this feature, Bitcoin will take its place in World History. Bitcoin is creating a new world order. Thanks to Bitcoin, there will be a payment method that is accepted all over the world, but does not belong to any authority. International payment methods will be easier. Go wherever you are in the world, you will see your needs. This is really important. |
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crypto should teach to them. Because I believe that this is not the perfect time of enhancing them in this system. If I'm not mistaken the students in high school will be in the rage of 13- 18 yrs.old where in thru this bracket it consider as a time of setting their first stage of enhancing his/her maturity and capability. |
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Will China, India and other countries follow the same path?
Maybe its great but since they allow even exchanges to operate now on there we can see that they are somewhat looking good at crypto, specially with latest news regarding regulation. However "rich" countries such as USA, China and others |
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Hello,
I would like to discuss about the primary idea of bitcoin of Mr. Nakamoto. Was he a/is he a person who wanted to make world better place, to take from rich and give to poor, to create new elite? What I am linking to is that at the moment large mining farms, bitcoin visioneers who started in early 2010-2013 now have most of bitcoins and sad (my oppinion) truth is that they will keep growing than most of society stays in poverty.
I think it is socially incorrect situation as it is because I think primary and main idea of bitcoins was to make world a better place to live, to shorten gap between rich and poor, educated and non educated people...
And finally happened what happened, rich got only very small percentage, while others live as they lived before...
What is your oppinion? What was real primary idea of bitcoin? Are we on a right way as Nakamoto visioned?
Nowadays, everyone perceives it as some magical asset that yields profits out of nowhere. It's sad that people are afraid to spend bitcoins, because it may be worth more in the future, so they just keep it in their wallets or speculate it on exchanges. I don't see many actual usages of bitcoin, there are not many shops or places where you can use it. Everyone sees bitcoin as successful because of it's price, but in my opinion it fails as a currency |
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Is bitcoin still a good investment for newbies? Is it worth to pay almost $8200 for 1 BTC today?
Always make a deal which does not leave you with a huge loss in the future. It is foolish to assume that buying 1 bitcoin is necessary 90% of the users have not bought a bitcoin at once ( except the ones who are funding for some campaigns ). According to the funds you have you can use some of it to buy some fraction of bitcoin |
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What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?
you can see that out of the 21 million supply of bitcoin, only 16,779,400 BTC is in the circulating supply, meaning the remaining is either being hold and kept by Satoshi, the devs and some whales while the others are completely lost forever. If we somehow decided to gather up all the satoshis we have to complete the 21 million btc, it will never be completed as the others are already lost in forgotten wallets and such. |
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The price of Bitcoin growing consistently from 2009 sum of people are very confuse to see the price of BTC that what is the right time to invest.
According to my opinion at this time price of Bitcoin in low position so you can invest.
What you think.
Cryptocurrencies were conceived to be used as a currency. Who remembers that? Investing in bitcoin is a temporary phenomenon. At any time, the price may fall to a minimum. It seems to me that you should consider bitcoin primarily as a currency. |
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The real problem of bitcoin price decline is that more of 50% of cryptocurrency community are most of them ignorant and lazy people , they just follow rumors , they never get news from trusted source , never do research and this what create this panic Sales on the market and this bloody bath that you see right now , they heard about bad news from India so they start selling and never try to understand what was the news and what is really going on , and did this affects on bitcoin or not , I am sick and tired of those kind of people .
If you don't believe in bitcoin just walk away , we don't need you in our community .
They easily get swayed by news or rumors about cryptocurrencies that in a result, is forcing their hands to let go of their assets and later on, regret the decisions they made because the coin that they have let go, recovered and started increasing folds that before. |
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This comes a bit late but still very much relevant, especially to somehow appease a lot of Bitcoin fans and followers who are now on the edge of panic selling because of what Bitcoin has been going through these past weeks and even months. I hope this little information will somehow address a big doubt on a significant number of Bitcoin fans and followers on the matter of overheard information that some governments are pushing for strict regulations or even ban on Bitcoin. Please know that the majority of the most powerful and advanced countries in the world is still widely open to Bitcoin and other cryptocurrencies. So, guys, please chill out!   it may have contributed slightly but is not a telling factor. People shit the bed when the price dipped after 20k and there's still a lot of fear going around, more important than people now panic selling is the fact that there are very few people buying bitcoin and all those that are are placing their orders and waiting for them to be filled, until they make a stand the price will slide further. |
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BTCBTCBTC
Bitcoin is not dead lol. The price is getting low but bitcoin will not die quickly we can recover it in somehow. Many people thought bitcoin is secretly dying I just wanted to say that its wrong Bitcoin will back soon to higher value.
BTCBTCBTC
As the price surged from 1k to 19k there were many new investors who joined the crypto market because of the surge. All these investors are beginners in the market and must have been panicking as the decline has arrived. It is known to the experience traders that the graph cant keep on going in one direction. What goes up must come down and hence the decline has come. People should know that BTC has survived every decline and it will survive this one too. |
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Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?
here in forum you can got that when you scam others here in bitcointalk forum no one is secure here even your so protective in your account if the work of some person is hack or scam other they have also an professional skill from doing that i have also group in facebook group that can create a phsing site to hack someone so be careful before you register in other site |
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The trend now regarding bitcoin is that it constantly goes down in every second and every minute. Is this the end of it? Will there be any possibility that its value becomes zero? Or specifically demonetised? Because for me I think 5 to 10 years from now this will happen simply because of the appearance of other alternative coins. What's your opinion about it?
My though here is I think the reason why we engaged to this system is just because we are believe and trust to the capability and ability of this system but now I'm just do suspicious to those people here because their prediction and hearsay about btc are so miserable. Those people are not giving importance to this system and making some negative issue or topic that may cause of downing the system and push it to it's end |
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Someone says Etherium will be no. 1 coin if Bitcoin die.
But, I don't think so.
If BTC die, there will be no more cryptocurrencies.
Even if that happened, cryptocurrencies would not disappear. There are many interesting altcoins which are also fast and similar to Bitcoin e.g. Litecoin. However, I have to agree that the death of Bitcoin could cause some problems but certainly it wouldn't have any impact on people's will to use cryptocurrencies. |
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COUNTRIES THAT BANNED BITCOIN Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not. Several people believe that bitcoin was a blessing and it was an opportunity for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin. Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it. STOP THE BITCOIN!! Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries: 1. Bangladesh2. Bolivia3. Ecuador4. Kyrgyzstan5. NepalIt was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/ that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange. Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia, And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".this was already an old news for updated list https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territoryso what do you think? will your country will ban the use of bitcoin? do you know other countries that ban the bitcoins? Please share it and tell to everyone  the truth, no government is taking right decisions in all the time. Don't care too much about government decisions. We didn't create bitcoins, we're getting advantages from something created by someone super genius. Bitcoins is just an opportunity for us. |
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