I introduced a friend to bitcoin in 2016 and he bought 20 bitcoins at $455 somewhere in January 2016. He now sold all of them at $1005 per bitcoin. After bank fees and trading fees, he made a profit of about $10 000 in a year.
The best interest rate he could get back in January was about 10% per year. So his profit from bank interest would have been +/- $910 for 2016.
Even after Tax has been deducted for Capital Gains, he will still Net a profit of about $7000 for the year. He is a very happy chap now, and I got a expensive lunch out of this deal. ^smile^
#Disclaimer : These are calculations done by him, so I do not know how accurate they are. Just thought I would share it with you.
Would you risk about $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.
Definitely,after seeing your friend's profit,no one would disagree to follow his steps.$10000 in a year.That sounds great. |
|
|
|
|
Till now bitcoin price is increasing steadily.It has been predicted that bullish trend will continue till year end.Bitcoin adoption is increasing.There may be a slight price correction and it would not affect the price much.BU and hard fork issues were previously created to dump bitcoin and earn huge profits by selling alts and rebuying cheaper bitcoins.
|
|
|
|
|
It has been already estimated that bitcoin would be the sixth largest reserve currency by 2030.Large number of companies would be accepting bitcoins as payment at that time.More countries would have accepted bitcoin as legal payment by that time.Dollar would have started losing its importance by that time.If bitcoin price increases in today's speed,then it would not be a surprise if its price reaches $10000.
|
|
|
|
|
Really that would be a great idea.It would create curiosity among new people to know what bitcoin is about and it it would help for the progress of bitcoin community.Instead of using exchanges,we could directly buy and sell bitcoins immediately.
|
|
|
|
I concur, 100%. That's one reason why BTC hasn't taken off as a currency. But it's still good as something to speculate on, and as a (very volatile) store of value. When sig campaign payouts don't confirm, it's frustrating...but when you get a 120% raise in 3 months it's very cool!
Yes,even i have not thought about that.After three months,if it gets confirmed we get 120% raise and in six months,240% raise, thats great.Let it take more time sorry more months to get confirmed.I dont bother. |
|
|
|
|
Even with high fees,bitcoin is still used and would be used in future also for transactions.It would be better if there is lesser fee but people will not go to altcoins for this reason.
|
|
|
|
|
Lots of obituary notices seen already.No more please.You guys just need a reason to say bitcoin is going to die.Atleast try to find a valid reason to say that.Bitcoin is not going to die but the altcoins could.
|
|
|
|
|
Bitcoin could not replace fiat.Most people of under developed countries believe only fiat currency as real money which they could touch with their hands.Most people don't have credit and debit cards and they are not familiar with digital transactions.So fiat would exist and bitcoin would become as secondary payment option.
|
|
|
|
Nowadays many people are starting to invest money on bitcoin or the buy bitcoin..is this a good approach?
How this will influence us in future?
Yes it would be a wise decision to invest in bitcoin.Bitcoin has become the first choice of many people nowadays.People consider it as digital gold and buy it instead of gold.Bitcoin price is steadily increasing and it is expected to continue in bullish trend this year.But invest in bitcoin as a long term investment and dont expect short term benefits. |
|
|
|
Hi, I don't know what to do  How you think bitcoin will go up or down in near 2-3 weeks? It is very important for me... What you will do with your btc also? Thanks. I still keep it. in my opinion you should not sell it now  We dont have a crystal ball to know what will happen to bitcoin's price in the near 2 to 3 weeks. but educate yourself about charts and patterns. Even some good news may affect the price of bitcoin. so better learn things from yourself and try not to rely to others. Well things have changed a lot since you have asked the question.The beauty of bitcoin is that we couldnot predict exactly its price movement.Some said that bitcoin would die due to BU but in totally contrast to predictions,bitcoin price has reached $1735 today.Just one suggestion,bitcoin adoption is increasing day by day and there are lots of positive changes in Japan and Australia related to bitcoin.More companies have started accepting bitcoin payments.These improvements show that bitcoin would continue to go in bullish trend this year.Rest you have to decide. |
|
|
|
I was wondering, how many BTC do anyone needs to own in order to become rich in 10 years. Well,i dont know exactly the number but my friend used to say that if we have 21 BTC in our wallet,then we could enjoy a retirement life.I am also trying for the past one year to join that 21 BTC group,but i have not even saved one BTC till now. |
|
|
|
Waw, a colourful moon means a colourful future for bitcoin.Got your point.Right? |
|
|
|
This is a sad thing..people are forced to buy bitcoins to pay ransom..while this may create demand in epic proportion perphaps next all time high..certainly this incident brings bad reputation to bitcoin.
i think price will shoot to 10000$ by next week
Not at all. Price may reach $2000 by next week and i don't know for what reasons you said $10000. |
|
|
|
Initially this seemed like a nice article, then ended up being a complete disaster. Join the club of bad predictions.  Yes till now,Bitcoin has died more than 100 times.Lots of obituary notices of bitcoin through out media.I think the obituary notice of these people would come much before bitcoin's.Bitcoin would survive long. |
|
|
|
I've just thought about this for a moment but, if we want bitcoin to get more popularity, attention or acceptance would it be nice to make some advertisement about it on T.V.? I don't know if in other countries they advertise bitcoin but in my country, I haven't seen one. How do you think advertising bitcoin will affect the people? Any thoughts?
Bitcoin is a decentralized currency uncontrolled by any authority.Thats why there are no ads about bitcoin on T.V.Some big players like Roger ver advertised a lot about bitcoins earlier.But now since he has become Antichrist of bitcoin,there is no such ads even in other platforms. |
|
|
|
I just wanted to know that,what amount of risk is there in investing in bitcoins.
Right now i am planning to buy btc approx 3-4 btc and just hold them as i guess the price of bitcoin will increase in future and i will get some good profit.But i want to know what is the risk involved.Can bitcoin price decrease and is this right time to buy the bitcoin.
Every investment is risky and bitcoin investment is also risky.But as far as i know,im following the bitcoin price movement for the past two years.There were some issues and lots of rumours that bitcoin is going to die,but bitcoin quietly overcome such situations and its price is $1735 today.So invest in bitcoin only on a long term basis.Bitcoin is an innovative digital currency gaining more importance day by day and being adopted by more countries nowadays.So you can invest in bitcoin. |
|
|
|
If they implement it then Palestine becomes the first country to choose a cryptocurrency as their national currency. Since it is going to be a country specific cryptocurrency, it is not going to affect bitcoin or other altcoins. Palestine has its reasons, no singular official currency, no money printing facility, no control over money supply. Sure this new currency is not going to be as decentralized as BTC. Many countries are testing the blockchain technology and if some developed countries come up with this same concept then that might affect bitcoin. Sure,it will be much helpful for palestine's progress.They are suffering a lot due to economic crisis and bitcoin has surely shown a new way for countries to create their own coins. |
|
|
|
For what's been stated by Op, there is no need to lose faith on bitcoin. This is a delusion that most users have as they always focus on increase and profiting. They cannot accept loss, the price falling down or the huge number of transactions getting stuck on the network is common. The same gets running perfect within a short time frame.
Yes,Bitcoin has increased dramatically from $1200 to $1735 and some people could not even bare $100 price drop and start saying that they are losing hope in bitcoin.It must be taken into consideration that besides huge number of transactions stuck,bitcoin has reached this price and there is no need to worry. |
|
|
|
Now the world is crazy about bitcoin!
We talk about its price ,its mining all day.
Besides its speculation ,what is the real use of bitcoin ?
Financial freedom which bitcoin has provided to a common man even if he is from an under developed country. No more dependence on banking sectors for transactions and no more huge transaction fees. Giving full control over our money through wallet. Ever growing price which has termed bitcoin's name as digital gold. |
|
|
|
Now anyone see bitcoin has been reached at $1504. It is superb for me and also for all investors of bitcoin.
Since last year in 2016 in this month bitcoin was under $400 to $550. So now we see in this time bitcoin has a double or triple price. So its mean the next coming year in 2018 bitcoin will be reached at $2500 to 3000.
Am i right? what's your opinion?
Sure there would be no surprise if bitcoin price reaches $3000 next year.Bitcoin acceptance by japan has been an eye opener for world countries.They are yet to follow japan and it would lead bitcoin price to increase more. |
|
|
|
|
Show Posts
