What would happen if everybody wants to exchange for a real money?
I consider it not fair to mine cryptocurrencies?
If it is so good why there is a need for exchange rate to the real money?
Why recently I needed to block about 30 phone numbers constantly calling me to invest money in cryptocurrency? Is it going to finish soon because of having probblems not to be fed this pyramide game with real money?
I don't think everybody will at once want to withdraw or convert their crypto holding to cash, even if there is a major crash of the market. There are so much believers in this system that even at such crash, buyers and investors will come in to fill up bags for the long run. Bitcoin and crypto currency at large has earned so much trusth from users round the world that even with ban and restrictions, the use of crypto currency will still remain. Exchange rate to real money is needed as there is a standard for the international sales. Dollar is used to purchase things internationally, because it can be easily converted to our local currency, so it is in the crypto world, without an exchange rate or a standard rate, there will be losses from one side and gain at the other side. The two parties needs to make a fair play for the side not to be cheated in some way. Crypto currency is not a pyramid scheme or game, it is you as a boss of yourself in the digital world, and it is also a certain thing that everyone wishes to buy low, so that when the profit comes, even in the smallest means, it should show (maybe that's why those calls kept on coming). |
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Bitcoin and crypto currency at large is for the future and without doubt, there will be a full adoption and acceptance of crypto currency in the future for online and inter means of purchasing goods as it is already a means of payment for services rendered (here in the forum).
It has only been the government that has being showing some ill view on Bitcoin and crypto currency, placing ban on the use from different countries, that is why it might take some time for this to be fully implemented. The government will in one form of the other try to make some form of regulation on the use so as to get their own share if they cannot fully stop the use of crypto currency. Bitcoin/crypto currency is the future of digital lifestyle.
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If all 21 million bitcoin's be mined, the miners will remain on the reward of transaction fee. The price of Bitcoin will go very high and the miners will solely depend on every transaction made.
What if a hard-fork is made, will it extend the total supply of Bitcoin in somewhat manner or it has nothing really to do with the Bitcoin blockchain, cause this is being the next thing that is being expected or which has been done like the BCH which was one done because of the rapid increase in the price of Bitcoin.
Well, I don't really know the technicalities of the hard-fork on Bitcoin, but I do know that Bitcoin will be very expensive as the holders will keep hold on it, and demand will increase, so will the transaction fee increase alongside.
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The ban of all related crypto activity made by China is not a fair one to it's citizens at all, knowing too well that China contains a very high number of crypto currency users, miners exchanges and so much more and they are all going to be seriously affected with this ban. This will also affevt the price of crypto market as most people might pull out their money/investment from the crypto market in other to avoid the wrath of the government upon them as law breakers.
Now, I see that this is not the fear of technology or some new idea of technology,but the fear of Bitcoin/crypto currency taking the place of banks within the province of China, leaving the government money regulatory bodies to being the boss of your finance with rule from nobody.
China placing ban could be for a while, and later uplift it, but if they don't, then there will be room for it's citizens to improvise.
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Every action taken in the crypto world is determined over time. The day of investing into the crypto world shows the start of your own crypto journey which is not a wrong time, but the perfect timing to come in. At every point in time at which one joins the system, there is a coin that has good trends within that period and a coin that has good potentials, taking that risk is what counts as the years goes bye. Bitcoin might has gone too expensive to have a full Bitcoin at onces, but there are some coins that are very cheap that can be purchased now, and over the years can give a high and impressive returns.
One rule in crypto that doesn't change no matter the time you join the system is be patient and never invest the money that you can't afford to lose. If you can obey this rule, then your stay will be without regrets.
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Staking of coins is a very good way of one taking hold of his coins for the long run, this long run depends on the holders description. Staking a coin gives you a room to receive more of the coins over the time at which you are holding and which is being told or known before the staking starts.
So far, I will say staking is one of the best ways made in crypto to earn passively with a coin, and this can be done with different coins and no one will ask why. Staking in crypto is to help the price of a coin maintain it's value and being rewarded for holding the coin over a certain period of time to help in the growth and development of that particular coin.
Staking is a very good way to earn in Crypto.
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So long as the market is filled with active members, the demand for bitcoin will always be there. More investors are getting into the system, old users in the system are still filling up bags, whales are still holding up and looking for a deep to get more.
The Q4 is having an effect from the previous actions of the market from the Q3 and Q2 which is good and which is also affected by the previous trends of the market, things might have been slowning down for some times now, the next move is not too far as the market is still strong on the bullish side taking hold.
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What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".
Outside the purpose of making profits, I don't see why an investor will take the action of investing into any stock or assets. No one wants to throw away his/her money even if it is too much the possess. Those who accumulates Bitcoin in larger quantities can say they are big fan of Bitcoin and are not moved by the short price swings, there is no one watching their transactions if we will want to believe in that. If big companies and financial institutions are getting into the crypto system, whether for the long or short run, they are here to make more profits, believing that the price always comes back up and goes even higher. The technology of Bitcoin made it unique and free for all to use with discrimination of any kind, making it accessible to all from any part of the world, and that is rare to find. |
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Bitcoin is becoming more and more expensive on a daily basis, and this is creating room for diversification of one's crypto interest, turning from Bitcoin to other altcoins out there in the market because those other coins are cheaper in price and the tendency of them rising is possible. To a point, when the margin of the demand for Bitcoin surpass the supply, then those with fractions will hoard, while those will bulk will sell to takeout profits.
When Bitcoin becomes scares another coin will take it's place as a trending and a more active coin in the market.
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For now it is rare to find a real website that supports the use of bitcoin or crypto coin for online purchase. But if it is covered to fiat, then there are whole lots of them.
It won't be really easy to handle this form of business transactions if it's been compared to the P2P process of crypto convertion to fiat, there will still be some lapses that will need to be put in place for a smooth transaction. Let's take for instance P2P, you need to as a seller confirm that the cash has been deposited into your account, and an escrow standing as the third party. Now, buy a product online, will the product be paid for first, then wait for the delivery or the product will be delivered first, then seller waits for payments, stuffs like this.
Well, I know for sure that, a way will definitely be made that will correct and solve this and crypto will be used for purchasing of goods/products online.
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I've seen several times that every altcoins doubles the price in a single day which means every coin or token has its opportunity to boom. IF BTC price does down they drop but suddenly they skyrocket by the next day itself, it's pretty hard to judge which coin might pump for the next day. Is there any specific website which might help me to identify? Kindly share your thoughts.
I don't think there is any website that does that, or maybe there could be one out there, but I know that there are lots of people on YouTube giving different news about different coins and how they are promising and destined for good profit in a period. Paid signals in telegram also has some good news they offer which helps and goes right if strictly followed. Altcoins that are not well popular and are currently cheap in price are coins that has the potential of making out profits for it's holders and users, and if the project is a promising project, it will stand the chance of time. |
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The risk of crypto ban is a risk that can affect any user within the area where the ban is affected. This is being done by the government for some reasons which they this is best for them. The ban of bitcoin does not stop money laundering in any country, rather it stops the technological development of that country.
Another one is Regulation. If Bitcoin becomes regulated by the governmental bodies, the unique feature of Bitcoin wears away and the fun is ruined.
Ever having the thinking of investing into crypto currency is a risk, and making that investment means the risk has been completely accepted. As an investor, risk taking is what they do best.
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If it is a false alarm, it has created room for FUD, and which will end up hitting the market price of bitcoin. It being real will still affect the price of bitcoin. They may in anyway term the use of bitcoin to be to be illegal and somewhat, they know what they are scared of. As the world is moving and the development of technology is fast growing, then the use of bitcoin will be for real, and the upcoming generation will have the full use of bitcoin and crypto currencies at large.
For now, the news of this could be true or false, only those that are citizens and residents of China can give a real say on the statement of ban within the country. If it is really banned, they will still be using this site at least, cause the internet won't be shutdown, except they will only be shutout from the internet.
The only thing it will do is to affect the price for a period of time, which always happens as the price is always on a rollercoaster ride, and everyone by now is used to this without fear again.
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I will take my say that the ban can and will majorly affect the users within and from the China region. The Chinese has more users, followers, backers and supporters in the crypto world. When we talk or look at the big miners, it comes from China, and now the government is kicking against it. This which the Chinese government is doing is to affect the international usage of bitcoin from banks and local stores (cause I will believe China is already making use of bitcoin on the daily activities). This ban will not be affected if the coins are stored in cold or offline wallet, whereby the internet is not need for that.
This will affect the price of bitcoin as fundamental analysis will have its play somehow, and which will not take long.
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The legalization of Bitcoin in most countries is becoming alarming and sounding as something forbidden by some. Countries that placed ban on the use of Bitcoin will find it difficult in terms of exchanging it to fist, except going the the online way, which most exchanges now supports (the P2P) process. Outside that, it's almost impossible to change your Bitcoin to fiat, and on that point, it becomes an asset for the store of value. But when it comes to a country where the use of Bitcoin is accepted with ban or restrictions, the use becomes interesting,and using it for the store of value becomes more exciting when it is time to withdraw/convert your crypto to fiat.
The point is this, whether it is taken to be an asset or a currency, it depends on the country which the person is located.
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This will definitely affect the price of Bitcoin in the upcoming market, which could either be an uptrend or a down trend effect.
If this is true according to the link from the website, that Satoshi is the owner of the Bitcoins, then, I am rest assured that he will want to make a judicious use of that strent at hand, which he has kept that way over the years not to suddenly manipulate the price by making it a bubble, nor to kill the price, making it worthless. For him to create such technology, and entrusted it into someone's hands and stayed in the shadow over the years without trace, he deserves respect. Something new is yet to happen. Fingers crossed, eyes watching.
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China is stopping the use or adoption of crypto currencies is a thing that I have not seen the beauty in yet, or maybe they have something they are seeing that most other people and countries are not seeing  (I wonder what that could be). China as a developed country amongst many is a country that the rate of technological development is so rapid and in any form of technology they move first, as a populated country too. The deep in the market at which China has on the price of Bitcoin is high and this is because of the high population of users and miners from China. I will say it's a step back in the technology trend from China if they truly ban the use of Bitcoin/crypto currency. |
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Introducing people into the crypto world is something I have tried to do, but they end up saying it's a 50 - 50 thing. They prefer what they can see, office they can go to and officials they can ask questions. They feel if they have no one/office to run to, they can't manage it themselves.
But one thing is sure, that who ever gets concerned and convinced they take the bull by the horn and invest immediately, and people like that are rare amongst my friends, and men of age thinks it's a scam, and they end up turning it down.
Amongst the people I introduced into bitcoin was a close family relative, who was convinced and joined the system, where we registered in lots of faucet sites and earned bits of bitcoin.
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It is a very good thing that you shared and successfully made your uncle to invest into the crypto world, a step into the crypto finance space, where everyone can make good deal of profits within a limited space of time. It is also necessary that he should be aware of the risk behind it. The risks which is faced here is not like the normal day to day investment, in here you are the boss of your fund, therefore, no one will be held responsible for mismanagement. I will applaud you to let him know that patience is a key factor in this side of the financial industry. Actions taken here should be properly scrutinized and ready to accept all returns at any given point in time.
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