Will bitcoin cash really replace bitcoin? will it rise to bitcoins value of 7000 and more?
I only see bitcoin cash as a trigger tool to make bitcoin jump higher. Nowadays people are interested in the rise of bitcoin cash, the miners are also rumored to prefer to mine bitcoin cash rather than bitcoin. yes, for now, the big hands are playing their money between the two coins, so we see the opposite direction when previously almost said bitcoin and bitcoin cash move in the same direction. But I don't think this will last long, and my advice is don't miss a moment like this to reap the benefits of bitcoin cash, but never think to keep it in the long term. |
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we are still in november, and the price of bitcoin was closely touch $8000. this further convinces me that bitcoin can reach $10k in less than 6 months. Given the news that "2x" is suspended, this will certainly trigger price movements of bitcoin, as if the barrier wall has collapsed, and bitcoin is increasingly unstoppable. I thought most people feel more regret than surprise by looking bitcoin price.
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the worst case scenario is if each country makes their own cryptocurrency, of course the use of bitcoin will decrease around the world and will affect the price movement is very slow, unlike today. But, today, I see bitcoin almost mostly used as an investment facility, rather than a tool for transactions. Therefore, that possibility could be denied because of its use.
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Hello
I decided to invest some money in altcoins in parallel with my bitcoin investments. So, what altcoins you think that are profitable and have a good worth in the future ? I talk about long term investment NOT trading
if you intend to invest some of your bitcoin into altcoin, you should do it when bitcoin is in peak price, Because altcoin that paired with bitcoin is definitely going down. Then, choose altcoin with the highest fluctuation of bitcoin, such as Ethereum, ETC, Dash, Ltc. for example, you buy ethereum at the price of 0.041btc, when the bitcoin price falls, and the ethereum rises, you can sell it at a higher price, and will increase the amount of bitcoin from before. |
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actually, it depends on the point of view of each individual, how they see the current technological developments. I think everything can be linked to scams. there's no exception with bitcoin. Well, to convince people that bitcoin is not a scams? I think it is very difficult if the target people are not so familiar with technology. Simply put, you can show people transactions on exchange sites, and show them that people keep buying them for a large sum to earn profit in the future.
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if mining cryptocc is an illegal act, then places like gaming centers, data centers, and other places that contain many computer devices should be illegal, because mining processes require only the device and internet access in it. What might happen is in the prohibition circulation of cryptocurrency, instead of mining process. As long as the miners are always obedient to income tax in their respective countries, I don't think there will be any problems with the mining process.
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When will the youtube and other websites start to pay us with bitcoin?
in fact, it will not happen as long as fiat is still used in everyday life. This is likely to happen if cryptocurrency has been almost completely used in replacement of the current currency, and followed by adoption by websites that typically make payments in USD or other currencies. So maybe not in the near future. |
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Most people now with the rise of bitcoin value, just want to hold bitcoin for as long as they can so that they can maximize their worth. But isn't it a little too greedy to just keep holding bitcoin?
We've all read that story in the school with the moral "Greed is a Curse".
So what if too much greed in bitcoin may backfire? What if, the hodlers end up with nothing?
No, Holding bitcoin is not greedy at all. Let's just assume that holding your bitcoin for a long term is like saving your money in the bank with a high interest. Holding your asset for long term because you knew that it will have more value in the future was the smartest way to earn huge profit. The same thing when you buy Gold when the price was cheap, and then sell it when the price was high. The only one I would call greedy if you're doing a trade with leverage for example like trading forex and stock with high leverage x2 - x5 or more. |
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I heard people said that Bitcoin's profit is higher than profit of drug dealer, weapon dealers or profit of real property or any kind of stocks. Is that real ?
dealers of weapon and drugs need special access to obtain, and not all places consider this legal. Being able to sell these two goods in a forbidden place will get a hard sanction, That is, both of these things have a very high risk despite promising high profits too. Unlike bitcoin, the risk of this investment is borne by all users or investors, because no one can guarantee that the price will continue to rise. In fact, people believe that this technology has value in the future, and continuously buy and save it for the long term, so the price continues to increase. |
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It's currently estimated about 3 million people own some amount of Bitcoin.
That's about 0.3% of the population of Europe and North America.
If Bitcoin becomes mainstream, and say 50% of people in Europe and NA own Bitcoin, how much would it be worth?
yes, and I thought its less than 1% in the whole country has own bitcoin and the current price was already around $7.5k/btc. Let's assume that each 1% was presenting a $7.5k for price, it means when bitcoin become mainstream and used by 50% of population the price would be around $375k/btc and its minimal. Well that just a simple assuming from me. |
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I prefer to make people around me curious about what I do everyday with cryptocurrency. Curiosity raises questions, and once interested in achievable results, they will be interested in trying. Because most people will focus on what results will be treated if they enter into this cryptocc world. After entering the stage of trying, that is our duty to convince or encourage them.
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My own strategy was simple. And i believe most of trader use the same. While Bitcoin was in peak price and seems to get dump, Convert your Bitcoin to altcoin with a good marketcap like Ethereum, Litecoin, Dash, Ethereum classic. I wouldn't suggest to convert your bitcoin into bitcoin cash, cause it seem follow the bitcoin price movements. After the bitcoin seems to rise again, you should convert your altcoin aset, back to bitcoin, and sure you'll see that your bitcoin amount was increase. If You success with this, it will be better than just hold it long term.
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btc november target is comming soon look at btc is boom  i think after 3rd fork the price of bitcoin will be 8k$ to 10k$ im going to convert all my altcoins to btc before hard fork so i can buy at the dip of all altcoins. I wouldn't be so optimist if I were you. In my opinion, we can expect a huge decrease in the Bitcoin price the next following week/days when the fork will be out. It will be a good correction and I won't be surprised if the price decrease by $500 $800. But if you are right, I will be happy to see Bitcoin reach $8000-$10,000 correct, this is already the seventh week for the bitcoin rising trend. and we know that whales are determining the time to take their profits. That means there will be a big decrese with the price. I'm sure, next week is the beginning of the price to decrease, so that by the end of the year bitcoin can touch the new ATH, maybe about $ 7.5k or more. if you're ready to buy altcoin, this is the right time. |
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I think the title says it all. After a long time of thinking, reading and also investing a bit into Bitcoin I have to say that it looks for me that the main use is actually just pure Investment. It always looks like that everyone just talks about how great the Technology is although they secretly want to get super rich with a always raising price. Of course it's used with several shopping or daily things, but that's just such a small part of it. During that, people who don't want to take the risk to invest call it a "Bubble" and people who don't want to lose their money just make kind of stupid speculations without any arguments. In the end (just my opinion) the price of Bitcoin is controlled by all the media (that's hyping bitcoin and talking about it everywhere) and all the really big bitcoin whales with e.g. like 10000+ coins can actually effect the market the most. Imagine what a few people with a huge amount of bitcoins could work out together to control the market and making money. It's just weird, because it turns this, what everyone calls it, great technology in the end just to a fully commercial object to earn money. Which would be probably also the reason why it stays and raises all the time, because it's normal that everyone wants to make a big amount of money with this little effort. Let me know what you guys think and please don't give me this non argumented one liner like in all the other threads  I thought 90% or more bitcoin is used for investment short or long term. and the rest was used for transaction, like buying a mining rig etc. So its not 100% as investment coin. People are believe that bitcoin will become more valueable in the future, so they just keep buy and hold it. In the other hand, there also an altcoin like ethereum, litecoin, dash, etc that used as an asset, not solely used for transactions. This does make the purpose of this cryptocurrency to be slightly faded. But as long as people are still using and considering it as valuable, I think it's worthwhile. |
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There are other exchanges which do the converting for you. Coinbase, Gemini, Bitpanda, Bitstamp are just a few which you can sell your bitcoins and they can pay you in fiat money through bank transfer or different payment processors, like Paypal,Skrill,Neteller etc.
When you send your fiat to your bank account, try a smaller amount first, some banks in the EU are starting to stop transfers coming from Crypto exchanges, and sending back it to the exchange. You can search for the name of your bank in the forum to check if there were any problems when others were wiring back funds from exchanges. the banks in my country are actually scrambling to have access to exchange sites. Because they see the potential of large funds and potential transactions are not small as well. This is because the ratio of credit in banking is very higher than the ratio of available funds. so, they desperately need the supply of funds from other elements. For OP issues, I recommend using an exchange site that provides currency exchanges and is not too complicated in terms of account verification. I would suggest Hitbtc. |
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fiat, Bitcoin, ALtcoin, and a lot of ICO. If that's what you mean so many currencies, yes it is. But I thought not every store and business would create their own crypto currency. It would be need more cost for them, to create it, and to promote it. Its not that simple to create your own cryptocc. You will need team to manage and develop it. THey would prefer use the crypto that already exist. Except, they have a project with cryptocurrency based, and need to collect money by creating an ICO.
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as I know, most governments see bitcoin as a threat to their economy. the list you mentioned is a very good benefit, but not for the government. Even if the government wants to use cryptocurrency technology, I think they would prefer to create their own cryptocurrency instead of using bitcoin. One thing they can benefit from bitcoin, I think by taxing it, as it is today.
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again.. more news like this coming from asia. After china, now india show up. But obviously, chinese decision some time ago quite give influence on bitcoin, yet they have a big share of this technology, and finally they decided to open it again. But for India, I think even if this really happened, I don't think it would have much effect on bitcoin development, although the population in India can almost rival the population in china, but I'm sure, still less than 2% of the population knows and uses bitcoin there. So no need to worry about this.
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Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.
How can a normal people, who usually watch youtube video, use fb or other social media, you expect him/her to know all these things? I seen people give up easily, and think it's too techy.
I believe if Bitcoin sell coins on their official website, with lower fees, such as 1% to 2%, and make a simple wallet for people to use, more & more people would buy and use it.
What is your opinion on it? discuss..
well, if they feel complicated and difficult to learn about bitcoin, they better not enter a cryptocurrency world. Because they've already give up easily with just that kind of thing. the world of cryptocurrency was a cruel world, people who can't understand how to use it or how it work was actually a dumb. Becuse I believe even junior high school children could learn about this. And why you have to buy bitcoin from different sites while its already provide in exchanges?. |
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Nah man, "too big to fail" means a central agency is willing to bail out a failing entity. No such central agency exists for Bitcoin. It's the free market at its finest!
We should all be prepared for failure. But realistically the only thing that keeps bitcoin going is the fact that a community of people believe it has value. This same theory, reality applies to all currencies and things of value. As soon as people agree that it doesn't have value it will fail and that will be it!
I agree, we should always be prepared with the failure or fall of the bitcon. But I'm sure there will be a sign before it actually happens. Because there is nothing impossible in this technology. The same thing happen for big companies like yahoo and nokia. The company is practically a giant in its field, but what happens? They can't keep up with the rapid development of the times. |
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