What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen. If that's will be happen, the Bitcoiner surely have many homes, cars and apartments. But I agree with you that, it's won't be happen. In my opinion the reasonable price is $10000 /BTC. I agree, that predicting BTC price to be @10k$ at best could sound reasonable, however to me it's some kind of psychological barrier. Of course BTC marketcap won't ever exceed USD supply for instance, but why 10k$? In 2010-11 it wasn't that obvious, that 1 BTC could ever be worth 1000$  Personally I would rather cease from predictions and be content with my wishes about Bitcoin future  |
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bitcoin is good if you are looking for quick profits or if you are a strong believer of the bitcoin potential and you are sure the price will be more high in some months or years. Gold is good if you are looking to secure your assets for a 5-10 years period and want to be safe
I think it all depends on the economic conditions of each of us. if we only had a little money, then gold is not the best investment option. because even though the price of gold is more stable but price increases each year only 10% -20% every year. under conditions of those people who only have a small capital should choose bitcoin as an investment. To gain more profit with little investments you need to take higher risk. If someone has small capital, it doesn't always mean that it's not worth a lot for that person (e.g. this could be savings from several years). It depends on perspective and situation. If you could deal with eventually loss, go for BTC. Otherwise - gold. |
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Also, there are some wallets which do not require fees when sending/receiving fees. Just like coins.ph, it is the wallet that is mainly used in Philippines as it allows us to convert BTC into Fiat and withdraw it in certain remittance centers, banks and other partner companies. The cons is you'll have to wait for some time before the transaction will be confirmed. [1]But, if you are not rushing, why not do the transaction with no fees right?
Now, how do they maintain they service if they don't collect fees from transaction? [2]Simple, they are taking advantage to the fluctuations of Bitcoins price and that makes them profit (as what I have said earlier, it allows us to convert BTC to fiat). And, they are charging fees whenever we are withdrawing (depending on the transaction that you choose, some withdrawals don't have fees.)
1. With no fee you can even wait forever, especially in the times when fees are pretty high, and have no guarantee of delivery. You can't even use transaction acceleration service. 2. So they simply play with your money on the market, right? No, thanks |
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What is the best short-term (3 months or less) investment you made?
The best short term investment that I did was when I invested in Putin in yobit though I know it is only Pump and Dump I know it will pump which is I'm right its been less than two months that I got profit in putin imagine 2k plus satsoshi P and D application, and the value drop into 200 plus satoshi something like. but I earned much in Putin so much during Putin was hot in yobit. The best short term investment for me would be peer to peer lending, like BTCjam for example it allows me to work as a bank, I give loans to people based on their trust and their project and get my money back plus the interest that the loaners stated, I like this type of investment because not only it allows me to get money in short term but also eliminates all sort of risks.I can point out 2 risks related to social lending: 1. Debtor's insolvency 2. Regarding BTC/USD volatility - when you decided to fund a loan, your capital is frozen until full return. It's possible to loose when you are not able to react quickly e.g. sold coins on high price or when price fell you get coins of less value than at the beginning of investment |
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What are the features that a good investor should have? What are the characteristics of people who have enough capital and earn money from money?
What are the factors that make these people successful in their investments?
The investors should be broad minded when it comes to business in terms of investment. Had a big vision on it, and the flexibility must always apply, decision maker, know how to control emotion, and be understanding, I agree, the investor should be able to make decisions. And he should not be greedy. He must have a cold mind. And very important in investing luck Yeah, luck is one of the factor on why investors got their money big, and also a strategic way on investing like reading articles, watching some documentaries by big investors, emotion must be least to them. The more capital you have the lesser risks you have to take to earn money. It is like I have 10 bitcoins then I would easily earn 0.01 bitcoins while if I have 0.1 then earning 0.01 would be little difficult. I am not talking about gambling here, actually investing in sites or services or under people who can explain their work pattern and how they expect to generate profits is the best way to invest money, don't just go for the fame or name, understand their blueprint and then take a decision. As per your example, investing 10 bitcoins only to earn 0.01 btc is itself a big risk because if the site scams you will lose 10 bitcoins. I think we should be somewhere in the middle and think of investment like 0.01 from 0.1 Btc. This seems reasonable. 10% seems fine, but how this can be achieved? I guess someone would try to trade using your deposit. With such high return your risk is in fact scam_threat*trade_risk. I appreciate your idea of investments divertsification, but If I'd have 10BTC I would not split it in to 100*0,1 to get 10% from each investment, but rather make less portions (10*1BTC) and aim for 2-5% revenue. |
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If such uncertain time would come, I guess that demand for solid assets (golds, diamonds) would skyrocket. In case of disaster no one would consider bitcoin as a safe asset anymore, as it requires access to the blockchain. IMO Bitcoin needs relatively peaceful and certain world situation to get people trust and interests. If I'd have choose to have an ounce of gold or 10BTC at the time of world cataclysm, I would definetelly pick gold.
I agree with you, but I think that the cataclysm is more valued food and the most necessary things than gold and diamonds. Bitcoin won't be valued. We have to define what scale and type of disaster we consider. If it's worlds conflict I think that gold would still be valueable as an universal asset (as national borders and bank authorities would have no longer have any power). But in case of threat to entire humanity I would agree that weapons, bottled water and canned food would be most demanded goods (just watch any "Walking Dead" episode  ). |
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If such uncertain time would come, I guess that demand for solid assets (golds, diamonds) would skyrocket. In case of disaster no one would consider bitcoin as a safe asset anymore, as it requires access to the blockchain. IMO Bitcoin needs relatively peaceful and certain world situation to get people trust and interests. If I'd have choose to have an ounce of gold or 10BTC at the time of world cataclysm, I would definetelly pick gold.
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Built 3 x R9 Scrypt miner in November 2013 - these days Dogecoin has been launched and it allowed me to ROI in few days I've mined like 5 millions doge in the middle of December '13, however I sold 80% of them for price much below the all-time high. Also Bitcoin price was above 1000$ - lucky coincidence |
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If you invest $ 25 at 2 percent per day, then in 7 days you can earn $ 3.5.
Such percentage of profit can be given by the HYIP project
You may as well bet 25$ on black in roulette and would double it in few seconds - it's the same category of "investment" as HYIP In fact if you expect any relatively significant profit from investing 25$, you have to take a quite big risk of loss. Anyway I'd try to trade BTC. |
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Holding Bitcoins in fact means having an open market position - value of your wallet strictly depends on market fluctuations. While I think, that saving some BTC for long term is quite reasonable, it's still risky and our predictions about going to the moon are just bagholders wishes |
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The fees isn't very high, but no longer suitable for micro/small-transaction. I still prefer to pay higher fees than use this kind of services. This is sign for community miners to choose to support BU/SegWit/other solution very soon  Seriously? Few days ago I've paid 1,92$ fee to not make my money stucked. It took 3,5h for transaction to be confirmed. Is that deal fair and reasonable in your opinion? Bitcoin's competitiveness potential is decreasing everyday with 1MB block size. |
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If you take a look at the history of money, let's summarize the evolution:
Money as we know it today, didn't existed, we were just trading/exchanging. For exemple I have sugar and you have potatoes, we could exchange both. Then come the coins wich have a value and people started to agree to sell theirs things for a certain ammount of coins. Then come cheques and cards wich started to virtualize the money and the transactions we process. Now with the cryptocurrencies, it can be considered just as the evolution of the money, adapted to our "era". The monetary system needs to adapt and to improve with how we use the money in a 21th century
Coins as well as banknotes and cards are still in use and it would not change. Sure, new payment methods using internet connection will still be developed, however we can't assume, that one day anyone and anywhere will have network access to perform payments. Even though world would be 100% covered by free satellite internet service, it's still vulnerable to many factors that can even make your wallet inoperative. If you are interested in investing you should know, that diversification of assets is one of the most important rules and thus I think that "off-line" payment methods will play important role in securing everyone's money. |
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One of the most important factors for bitcoin's success in wide adoption (and to remain 1st crypto) is to convince regular people that it bring any value for them. By 'regular' I mean no BTC/crypto enthusiasts, but people who would change some of their daily habits to start using BTC. I think, that at the moment most of the BTC market volume is being generated by speculative transactions and yes, on that field Bitcoin has a great potential. However I am a bit afraid if BTC will go out of it's actual niche, because of the network limitations (mostly related to transaction speed and fees)  |
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First of all we need to define what 'specialization' means. Many newly launched altcoin have target group that the coin is addressed to (e.g. gamers, women, drug dealers , taxi drivers - whatever), however each time it looks like an weak excuse to perform pump&dump. In fact, there are some altocoins with decent marketcap at the moment, that offer faster transaction speed than BTC and can be used as alternative (ETH, XMR...). The last point is, that success of any coin is not a decision made by anyone, but market will decide if it needs that or not. |
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In first place young people shoud start to build savings, especially for two purposes:
- Loss of job (or necessity to start living on their own)
- Retirement
I agree that It's the good time to invest too, however putting everything in to one basket is not smart. It's hard to believe for me, that young person would keep calm and focus on other things knowing, that all of his/her savings are actually on open BTC trading position. Someone mentioned 20% in BTC - sounds reasonable.
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Doing any investments with bitcoins is doubly risky - additional factor is dynamic BTC/USD price, that can create extra profit or extra loss. In fact, any BTC deal or even holding coins is related to that.
However, increasing Bitcoin amount by doing investment can neutralize that effect (or boost wallet value when price goes up). My conclusions are following:
- Holding coins is not risk-free (can be considered as a kind of investment)
- Volatility of bitcoin leverages potential risks/chances for profit: successfull investment can minimize loss of value when markets go down but it can also make you lost more than expected
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In my opinion it wouldn't happen even in 2032. Basically, there are not so much reasons for using bitcoins from perspective of masses. In my country (Central Europe) daily use of bank transfers and paycards is fast, convenient and relatively cheap. I can imagine situation, when fee for Bitcoin network could exceed transaction value. Plus, comparing to debit/credit cards operations, bitcoin is slow as hell.
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Of course bitcoin can provide some online income.
If employer and employee agree to do so, that might be a very good thing.
Especially when they work across borders and have both different fiat system.
Then the exchange fees that companies like Paypal take (and that are too high if you ask me) drop out of the equation.
It's a win-win!
While Bitcoin is an exceptional medium for moving value, there is a lack of employer-employee relations that are using Bitcoin as said payment medium. It's a bit hard for employer to accept risk of loss related to price volatility. The only way to minimize it, is to buy BTC right on the payday, and then immediately transfer it to employee - could be inconvenient. Holding BTC in company's wallet is like having an open market position - I would not do that nowadays. |
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Then, people recognized the benefits of bitcoin and start buying it and hold it as a type of investment.
Yes, more and more people are interested in buying BTC, but mainly because it's profiteering potencial. If you check the topics about investments, people are often refering to the actual value of BTC. Many of them have target BTC/USD ratio that they will move all their coins to gain profit. Keep in mind that Bitcoin can still survive no matter how the world change, while Fiat can be destroyed by physical damage.
Actually there are even more threats to your public keys. If you: - print it on paper -> it would be damaged as well as paper notes - flash/optic drive -> physical conditions including UV light - hdd drive -> as above, but EMP instead of UV - cloud hosting -> most risky, many of threads here - carving in stone seems to be most secure .... and this is only for assumption, that people still have electricity and internet. Without access to blockchain, your private keys are useless. I can imagine that world can change this way. |
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I don't have any reasons not to trust banks because as far as I know, banking storage of money is reliable and many business owners deposited their assets on a savings accounts they have for fiat cash money. Well if we ignore trusting banks its not worth earning btc because we can use fiat cash money, to exchange it from digital currency to fiat currency by using online wallet which has an option for bank cash-out.
I think there is no reason for us not to believe the bank while we were depending on the bank. no need hypocritical not to use banks. because I'm sure you also use the help of the bank to convert bitcoin to fiat With no ability to turn BTC into fiat, Bitcoin would never reach such price and attention level. Sure, it's possible to sell coins outside banking system, but it's rather marginal part of world's market volume. We are praising BTC as a standalone mean of payment, but actually almost every single BTC would be transferred in to market one day, and will be sold to someone else for fiat. |
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