What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?
How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.
If the people stop buying bitcoin the value of bitcoin will be next to zero. The bitcoin has value because people are buying bitcoins and if people stop buying then bitcoin is going back to zero. |
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Just imagine selling your $259,900 house for 43BTC and 2 Months in street.
and after just 2 months sell 43BTC for $498198.
Again buying the previous also you will be in profit of $472298.
would you try this technique.
This is a very big gamble. You can't gamble with your life for bitcoin. there is no guarantee if you can get such figures after you sell your house. what if bitcoin price goes down after selling your house? what will you do? Live on the street for a year or what? that's low, man! Don't sell your house for bitcoin. try to sell something else e.g. car, bike, or cell phone. some time the bitcoin price can go down and it may take a long time for the price to recover. be smart, don't be stupid. aye! |
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Did you guys teach your family members on how to access and use your Bitcoin in case you will die?
Do you want to take your Bitcoin with you when you're gone?
Let me hear it from your own opinions...
Well, before I got here my little sister always asked me the same question over and over. What if i may die, what will happen to my bitcoins? I told why asking such question every time when she's around? She told me, she wants to take care of my bitcoin when i'm not around  I said to her that's funny for a little girl like you. But finally, I taught my younger brother how to access my wallet in case when i'm gone.  |
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I just stop looking at bitcoin price. It hurts me actually, that's why I took this decision. I am holding few of BTC and I will not look at my wallets too for 2 months. I hope after 2 months when I will go to see bitcoin price, maybe I will scream happily. What about you guys?  It is very painful to see the price of bitcoin going down even when you are not holding one. I think you have made a great choice to stop looking at the bitcoin price for now until after some time to avoid getting prostrated due to what is happening with the bitcoin price now. And I think maybe I'll also follow your method for some of my altcoins too. |
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We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model. How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day?  And how do you see it's future? There is no doubt Mr. Satoshi wanted to change the world by changing the money first, but when the bitcoin came out it has two very definitions as we all know, which are: 1. A digital currency (money) 2. A digital store of value (asset) The major reason why people are HODLing bitcoin is due to the bitcoin limited supply. The demand is what determines the bitcoin price in the market when the supply is low the price gets higher and HODLers makes money. |
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Bitcoin appeared in 2009, eight years, the total value of the circulation of bitcoins up and down 200 billion US dollars. Bitcoin was declared "dead" by the media countless times. However, it is undeniable that the media has a huge influence. Therefore, with each media claim that "bitcoin is dead", the price of bitcoin will drop sharply. The magic is that every time Bitcoin is alive, its price has hit a new high all the way. In other words, in the face of so-called drug poisoning amateur media reports, bitcoin gradually developed "resistance", negative media coverage for the impact of bitcoin prices getting smaller and smaller. What will eventually destroy bitcoin? If there is a force that can destroy bitcoin, it must be human greed.
Well, I think there is nothing that will kill the bitcoin as long as the internet is alive. The only way to kill bitcoin is to kill the internet first, which is also not possible as the people are now depending on the internet more and more to live their lives. Many companies in the world are now depending on the internet to run their operations from SCADA systems to microcomputers connected to their network. Killing the internet just because of bitcoin means going back to stone age. |
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But what does that decentralized technology really do
To infer what the intrinsic value of bitcoin
I haven't been able to do it maybe somebody else can.
Can bitcoin change our world?I want to learn from your opinion.
Bitcoin is already changing the world from how people use and handle money. Bitcoin was invented to disrupt traditional banks and paper money as well. It is a purely digital currency that is fast, secure, and decentralized. Bitcoin transactions are instant and cheaper compared to traditional bank transfer which is slow, expensive with zero privacy. |
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Is there any bank/financial institution somewhere in the world that has embraced Bitcoin? Not that I'd deposit my money there, I'm just curious to know it.
No. I don't think there is a bank anywhere in the world that is accepting cryptocurrency directly. I once read the news saying, UAE government is planning to accept cryptocurrency in their banks but still not implemented. For now, there only new ICOs for cryptobanks that are planning to build banks for cryptocurrency. |
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Here is the list of few great trading bots below.
- Haasbot
- Profit Trailer
- Crypto Trader
- Gunbot
Take your time and find the most suitable one for your budget and investment as well.
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Can i anybody put me through the basics of knowing when to sell and when to hold?...
I actually don't know much about market rise in demand and supply and it's affecting me in daily trade of cryptocurrency.
I think selling is all about your decision because no one knows exactly the best time to sell. For me, I normally have 2 months of selling my coins. 1. Selling my bitcoin when it reaches a certain threshold e.g. $10k, $15k, or $20k. 2. Analyze the market using the free available tools such as CoinMarketCap, and OnChainFX. And decide whether to sell or not. |
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I'm actually doing both. I normally do day trading when I see a certain potential coin takes a dip and sell later when the coin recovers and rise to another level. I also buy and HODL some potential altcoins too which I have a long-term plan to HODL.
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Simply forget about your coins. Stop to read any news related and stop to check the price daily or 2-3 times a day. You will have less stress and so less fear of your coins. Do it at least 1 month and you will see. 1 month is nothing in a life. After a month just do your usual stuff once a week, check the rate, read some news, ect, close everything and keep rolling the life.
Yes, the best way to overcome a fear of holding your coins is to forget about them, get busy doing something important like working on a campaign or working on your own personal project. I recommend checking your HODL coins in 2-3 weeks. Checking your coins 2-3 times a day will make you panic and that may lead you to sell at lost. For me, I basically HODL for an average of 6 months, if it works out fine and if it didn't I'll just wait for another 6 months. |
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Bitcoin is changing the world for good as we know it. Bitcoin is a peer-to-peer digital currency that is fast, secure, and decentralized. The bitcoin transaction is instant and more cheaper compared to the traditional banking system. Bitcoin gives people privacy, and freedom by taking full control of their money/asset.
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The bitcoin price is moving up and down for the last 3 months that why many people owning bitcoin are panic and start selling their own bitcoin to avoid losing too much money. Since the beginning of this year, the bitcoin is going through many market corrections one after other that is why many people are panic now.
HOLDing is going to be the best idea but not everybody is willing to take that risk.
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Well, I still think there is a chance for bitcoin to reach $50,000 in this year 2018. We are still in the first quarter of 2018, we have not yet reached even the half of the year. thus, we have a very long way to go and anything can happen to bitcoin as well. If you look the last year, the price didn't grow all the year but the last remaining 4 months from September to December. We are expecting to see a tremendous change in bitcoin before the end of the year, I hope.
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Trading without the knowledge is a suicide. Though, almost 90% of traders started that way. Trading bitcoin or altcoin require a knowledge and understanding when to buy or sell. What are signs, what are the signs to buy, and what are the signs to sell. Trading any cryptocurrency without the knowledge of how the market can react is a big risk and to avoid losing money you must learn the necessary skills and knowledge.
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Yeah sure you can do this, depending what you define as a small amount.
On Poloniex for example, you can deposit as little BTC or altcoins as you like and start trading, they don't seem to have any minimum deposit requirements listed.
How much do you have to start trading with? If it's just dust it's obviously not going to be enough for the fees etc.
Basically, the majority of exchanges/trading platforms doesn't have a minimum trading deposit except for platform such as IQ Option. As a beginner, everybody starts with a small amount of money to avoid huge losses. It is not mandatory to start trading with a large amount of money, it is always advisable to trade with you can afford to lose. |
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The Chinese government always wanted to control things in their own way, yet the bitcoin is fully decentralized and highly secured. The bitcoin was invented as a peer-to-peer digital currency backed with strong encryption. The bitcoin is a revolution that is changing the world by providing privacy and freedom to the people which is what people want everywhere across the world. I think the Chinese government sees there is no way to control bitcoin that is why they decided to ban it.
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I think these are basically the cryptocurrencies made for micropayment:
- Ripple
- Nano
- Tron
- EOS
- IOTA
These altcoins are an extremely fast coin with almost zero transaction fees, if not completely free.
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These days the bitcoin prices are rising and falling over 1000$ in just minutes and have become highly unpredictable way more than before.
Does this make trading more difficult right now?
Indeed, the trading has become more difficult as the market going through series of corrections one after other. The trading is more profitable when the market is expanding by getting large capital investment from investors and Hedge funds. When the market is experiencing certain downfalls only very few high skilled traders can make money from the market. |
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