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Money is really nothing if you don't really place it over everything; making it a priority over life, friendship, love, family and the likes. Money is important but not to be idolized. So, just be focused and live a life with values.
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hello member of the bitcoin forum,  I'm confused and looking for answers about how to help people who are having economic problems, are there any of us in this forum who have a good heart to help the economy of fellow human beings, can opening new jobs reduce unemployment and improve the economy? As much as one isn't taking the obligations of the government into one's hands, the helping of the economy can be made easy via creation of general and basic needs of the citizens. |
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We all know this year is one of the worst year of crypto, market is dead and new investors are in fear to enter, My portfolio is 75% down as compare to January. How long this market will take time to recover?. I am stucked in holding.
Though it might be a very poor year indeed for cryptocurrency markets entirely but I believe some real lessons have also being learnt in all. There are some resistant levels also being overcome in the trades. |
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The price of bitcoin is red on the market so you want to do panic selling?
Trust me, if you get scared today and sell your bitcoins, and the market gets better tomorrow, what happens?
You cannot eat your cake and have it back.
Well, I would ask really that if the panic sellers refuse to do their selling, how else can the market become spontaneous as it is a normal trend that makes the market go round. Also, the feel of regret on faces and hearts of the panic seller is enough lessons to be learnt. |
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My best moment in the cryptocurrency space which I can still remember vividly was early this year when I made some few dollar earnings from a bounty campaign and was able to use it to offset an uprising expense; it was really a stitch in time!
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I have read several posts on this forum where people have claimed to have invested all the money they have on Bitcoin, I also read a post where a guy claimed to have used all the $20,000 his uncle gave him to also invest in Bitcoin, some even sold their landed property. The reason for these risks and others is the firm believe that Bitcoin would be $50,000 - $100,000 by the year 2019 or thereabout.
First, I must say that I admire the courage and high risk appetite of such persons. But, I must also warn.
Yes, It is good for everyone to have high hopes for Bitcoin, and also hope it gets to 100k USD in future, but you should also consider a safety factor in anything you do including investing.
Mathematically,
DO NOT Assume,
P(Success of future term) = 1 ; and
P(Failure of future term) = 0
This implies that, you must always leave a little fraction for probability of failure which in this case is the safety factor, no matter how little the fraction may be. Simply put, you don't have absolute control of what happens to Bitcoin and Cryptocurrencies in the future.
Invest wisely, only invest what you can afford to loose
Just a piece of advice.
What are your own suggestions?
As much as I would say that you should trust your guts, the market itself has its own dictates which can go against your bold decisions. I have advised those around me based on experience with the cryptocurrency investments made over time that they should not put all their eggs in one basket and also not invest all at a go. Well timed investment is key and also not casting all you have at a go. |
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Telegram Username: @ohiozoba
Participating in: Signature.
ERC-20 Address: 0x38120f2079A1dc35651a1E9c78FcC8ab7a2D049
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I can say that a lot of persons have been swayed away by the unrooted believe that the cryptocurrency is a get rich quick form of investment. A lot have come in with this perception and have had their hands burnt and there by having the encounters spread abroad. |
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As long as the use of bitcoin and crypto is increasing. Different country and company are constantly bringing new crypto currency to the market. Statistics show that the amount of investment is increasing in the crypto sector. Some banks are already accepting Bitcoin payments. Bitcoin is being used in most countries of the world and there are no restrictions on the use of Bitcoin in those countries. Bitcoins are being accepted on various online sites. Since the discovery of Bitcoin, nearly 2000 more cryptos have come to the market.
Despite the so-called bright future in Bitcoin and Crypto, why do many say that all the cryptos will disappear from market?
They must get to know that cryptocurrency is already under some regulations with the world financial bodies like the SEC and its disappearance is not a thing worthy of discussion as it isn't happening but all is being harnessed on making improvements. |
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I do agree with this as the bitcoin volatility is still very much around and visible. As much as the high risk is involved; there is also the high and huge profits involved too when you are rightly placed.
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Well, I do appreciate these panic sellers too at every stage as they also help keep the market busy too and not static but can also help promote dumps too.
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Is it practical to expect tenfold jump in Bitcoin this year ? It has happened in past but is it practical to expect it this year also ?
I really don't see the 10fold leap happening this year because of the dips experienced repeatedly and overtime this year. I am of the opinion that a very sure time when there will be a bullish run is when the altcoins begin the startup and full functioning of their projects. |
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This question is especially for those who have been into crypto for a long time. How did cryptocurrency help you, most specifically financially? Did you earn more? Gain more investment? I do have a friend who wants to get into crypto but he does not have a lot of savings in his bank account or any major investment. I told him to save more before getting into crypto because they still have mortgage and car loan to pay. Do you think crypto will help him out to?
Well, I got into the crypto markets about late last year and I will say I was really financially down when I started having some earnings from it. So, I can say well that the cryptocurrency really helped me out in settling some of my bills & debts; thus giving me a float and new breathe. |
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One of the basic needs to mining is power. So, to have smartphones for bitcoin mining means the phone battery has to be specially improved on and also increasing the ROM /processor of the phones. With these in place, we do now have a headstart as to test running the bitcoin mining on smart phones.
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Although there are a few countries who uses bitcoins and other cryptocurrencies now, I cannot help but wonder if the world is truly ready for this digital currency? It will certainly be hard to replace all currencies in the world but it could happen in a decade or so, perhaps even less? Still the question is, is the world ready? I think if this happens it might be one of the biggest changes that will happen worldwide.
Just like I picked from the time frame you mentioned, I do think the world will be about fully ready to accept the digital currency in about 10 year's time from now. Before then, alit is still happening to really build on the cryptocurrency reputation globally and strategically on individuals. |
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I believe there are stages yet undone/unachieved by the bitcoin programmers/developers. The adaptation stage has not been fully reached talk less of its maximization. I believe apart from the exchanges, the bitcoin uses are still unfolding.
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Many governments are concern about cryptocurrency and they think it should to be regulated. What do you think regulation and how is it going to effect the price ?
The regulations have been carried out and I believe it is still actively in place now. It has helped to bring in more investors in the cryptocurrency market and as somewhat helped in the bitcoin price stabilization. |
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Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?
The entire cryptocurrency is and has been a continuous threat to the government and other financial bodies as the bitcoin's aims and objectives; decentralization and the likes completely contradicts the structure they have on ground. The regulation is an avenue for the government to come in and stabilize the market and not to make bitcoin go down as this will not be allowed. |
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There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
The fiat is still relevant as at today as it gives you the equivalent value/worth of your cryptocurrency assets. And as a matter if fact and urgency to have it spent as it applies in your relevant areas of spendings and utilization. |
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Now we can see some countries are regulating bitcoin and some government don't like it.Otherwise Bitcoin hasn't a stable price.
So my question is can bitcoin be a main currency of world economy?
As at today we are still experiencing the controversy of having the bitcoin become universally accepted. A lot of factors are still militating against the bitcoin becoming the main currency of world economy. Part is the bitcoin volatility which is still under strong scrutiny for a real control. |
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