An important reason for Bitcoin's popularity is that it has withstood the test of time. No digital currency has experienced so many ups and downs like it. It has been discussed many times around the world, and tenacity of its vitality also proves its value from the side. Moreover, Bitcoin is the most widely-consensus digital cryptocurrency, and it has a strong international circulation. The total amount of Bitcoin is constant at 21 million, and it is halved about every four years. It is scarce. In addition, Bitcoin is a peer-to-peer transaction transmission, free from the intervention of various institutions, and can circulate around the world. You can send your Bitcoin to any corner of the world. Coupled with the fact that Bitcoin has higher returns than gold. Digital currency or encrypted assets represented by Bitcoin is the general direction of the development of the entire financial industry. The great investor's enthusiasm over Bitcoin is based on its overall progress during last decade, it is proven only crypto asset that surpasses the expectation of investors and breaks the previous record highs. And bitcoin has been presented to the world to comply with the general trend of economic globalization. https://medium.com/cryptocurrencies-ups-and-down/bitcoin-is-still-the-favorite-choice-598d15fde96fIt is undeniable that Bitcoin is still the "king" of cryptocurrencies. Without Bitcoin, there would be no altcoins and we have to be thankful to Satoshi Nakamoto for making this a reality since it began last 2009. And the rest was history! It's still the favorite choice for most of the crypto enthusiasts around the world. Bitcoin was built for long-term investment and holders are the true winners (especially if they've bought BTC years ago).I believe you are right. It is now obvious from past growth of Bitcoin investment that, Long term Investment in Bitcoin is better even though we know that some investors daily trade Bitcoin too if you know-how. If you are truly a Crypto investor, I believe that most have some Bitcoin in their portfolio because investors have seen how Hodling Bitcoin for the long term has proven to be a wise choice. |
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Fiat and cryptocurrencies actually have the same function, namely as a transaction tool. The difference is that fiat is used in the real world while cryptocurrency is used in the digital world. Another difference is that if fiat is issued and regulated by a government, while cryptocurrencies there is no government that regulates it.
Which eventually means that, they are different. just because now we can use cryptocurrencies to pay for some purchases does not mean it is the same with fiat. How many stores in your community do you know that accept cryptos? Is it a legal tender in your country? Can you Hold Fiat and make profits out of them the same way you make profits from HODling Cryptos? I believe we can go on and on if we want but simply Imho, they are not the same. |
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The answer is simple - no, bitcoin will not kill banks!
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
I totally agree with you. I still don't understand why people are still thinking the Bitcoin will replace Fiat or Kill Central Banks? This was not the idea behind Bitcoins development, to replace Fiats and Banks and it will not be. Yes, Bitcoin is beginning to serve as some form of transaction or purchase payments but you Understand what the Fiat currencies and Central Banks are to a Nation right? I have also noticed that because of what transpired in El Salvador, people think that ok this is how the rest of the Nations can go. |
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Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.
Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."
Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like. Do you think cryptocurrency payment will be a new trend in the future? Like Chester said there, that is more like (DCA) "Dollar-cost averaging (DCA) is a strategy where an investor invests a total sum of money in small increments over time instead of all at once. The goal is to take advantage of market downturns without risking too much capital at any given time." Source. I wouldn't mind this approach where a percentage of my salary will be converted to cryptocurrency which I believe is better than the whole salary being paid in crypto because I will still have to trade it back to fiat becue I believe not everything you need you can get by using crypto but fiat. So fiat is still very valuable this time. |
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I personally don't see a problem with this. Now we have most of all these Big investors from Banks and Billionaires and other organizations coming out to say they have invested such and such amount in Bitcoin and I believe that every cryptocurrency investor wants to continue to hear news like that because we believe it is bullish news for Bitcoin, why then is it difficult for the rest of the people and still wants to make transactions anonymous or private? I wish that was the case in my country and not the Ban on crypto trade transactions in all financial institutions because, with the ban, I am making half of the profits I would have if the financial institutions were not banned from crypto transactions via P2P. Just my opinion. |
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This is really terrible news for El Salvador then. 77% is a really huge percentage. El Salvador bought $140m worth Bitcoin with the aim of distributing it among its people to incentivize them for using Bitcoin. But if El Salvadorans aren't willing to do such thing, then all of this effort would be in vain I'm afraid.
It takes some time and the people will eventually accept plus the government is still the authority and they will enforce it no matter what plus incentives is a good thing, I mean they just have to use the bitcoin goven to them to do some daily transactions right? Also, El Salvador should make a some way so people can fully accept it like installing bitcoin ATM ad having stores and markets integrate a crypto payment system, it doesn't have to be complex because there's existing apps out there already. What will installing Bitcoin ATMs have to do with the price volatility? and the Government is not the one to put up the store where Bitcoins will be accepted. I believe that the problems are not even the ATMs and the stores because I believe that there are stores already but it is the acceptance due to the main problem of Bitcoins volatility that is the issue. Even when they do accept Bitcoin and with the financial situations of El Salvador, their concerns will be how much they will be losing during the bear season and we know that Bitcoin is not yet as convenient as Fiat. I guess these are some of the problems that will keep Bitcoin from being fully utilized as a general currency until it is figured out. |
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One of the best ways I think this can be addressed is if all are united against any project that is found to be a scammed project especially the ones that come through the forums as in, run their Bounties here. Once the Forum owners, Bounty managers team with the Hunters to mount a campaign against any project that scam hunters in any way, by hitting them via every social media pointing out how they have scammed BMs and Hunters most especially, I believe we will have less of issues like that happening with bounty campaigns.
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If the regulation that was placed is really strict and only favors the side of the government then probably you can say that it undermines the decentralized nature of cryptocurrency. But if it's the reverse and the government and the people support it then we can see something positive happen to cryptocurrency in general.
Outside El Salvador where Bitcoin has been taken as the legal tender by its Government and hopefully some other countries that are planning to take that route because of their financial circumstances, Do you really think that most Governments of the world would support Bitcoin the way it is to be truly decentralised when they know that would be detrimental to the nations monetary system? So if the government of any other country says we support Bitcoin and you can trade freely and use it as a legal tend in their country, do you think anyone will still use the fiat currency of that country? and what do you think will happen to the currency after that? This is just me thinking crazy but it could be that someday, the governments will accept and support Bitcoin as you said. |
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Cryptocurrency ATM company Bitcoin Depot has announced a long-term partnership with Circle K, a convenience store chain in the United States and Canada. Bitcoin Depot plans to install ATMs in "thousands" of Circle K convenience stores. Bitcoin Depot stated that its ATM machines enable users to exchange cash for cryptocurrency, allowing simple face-to-face transactions, giving users immediate access to Bitcoin and more than 30 other cryptocurrencies. Bitcoin Depot has installed more than 700 Bitcoin ATMs in 30 states in the United States and Canada. If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular? If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change? If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some? sourceYeah I believe so but for me, I don't know how these Bitcoin ATMs work so say for someone that doesn't have Bitcoin before and wants to buy from one of these Bitcoin ATMs, would they automatically have a Bitcoin wallet created for them with their password or Keys? all those things that are linked to your Crypto wallets? or you must have had a wallet that your Bitcoin can be sent to after Purchase? I believe that it is a good way of creating the necessary awareness for Bitcoin and agree with @Liamttw on this If transaction fees are low, no more data is needed, and the process is fast and smooth, more people will choose to buy Bitcoin.
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Unfortunately sovryn performance during this bear market was not impressive at all, unlike other solid project who were down by -40% -50% of there ath, sov is almost like -80% or more of it's ath which is not very impressive considering the calibre of project sovryn supposedly is, to tell you the truth I was really disappointed to see the huge dump, it is like most of the investors suddenly lose faith and dump their stash, from $80.78 to $8.19, it doesn't look good imo.
One of the things I find not not good is the staking reward, it is a big joke to say the list, no wonder they took their sweet time revealing the staking reward, Am sure many stakers unstake their coins immediately the staking reward was not what they hoped for,
Another was the issue of BabelFish sale, somehow they managed to make sov irrelevant to participate in the sale, tell me why anyone would want to hold such coin with very miserly staking reward? The team are clever am sure they know what to do to bring the attention back to sovryn although first impression matters alot.
I totally agree with you on everything, a couple of things were off about what was going on there. They really tricked the investors with that staking thing and the penalty that was eventually charged for unstaking when investors realized it wasn't worth it and the price was dipping like mad. As you said, I think the teams and their affiliates know what to do to get the project on track again and I think they can because I believe the project kinda looks good but I really don't know why it dropped that much from its ATH. |
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I think long term investment for altcoins depends on the project plans and development both current and in the future. If the project is strong, then it is good to invest on it for long term.Anyway, both short and long term investment is risky, so, invest with adequate knowledge and caution.
I agree with you even though we also know that nothing is guaranteed anywhere and especially in the cryptocurrency space. However, I would say that investing in the right projects are good in term of long term crypto investments. Already mentioned that nothing is guaranteed but those that have invested in coins like Bitcoin/Etheruem from years ago can say that it was worth it and for some reason now, we can also say that few projects like this are a guarantee as long as the crypto market is still around. |
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Long term holding will depend on which coins/tokens you’ll hold and if they promised you something in return, I considered that as gambling and too risky because there’s no assurance for that fixed dividends. Which project you’re talking here?
Don’t invest and hold only to earn dividends, that’s small money as far as I know and if you are going to invest with small capital, that’s not worth it. Better to buy the top coins and hold it until the price pump again, the probability to make money here are much more possible to happen.
True that. I know of a project some person of mine participated in one time and they asked the investors to hodl for a period of time and most of them did and after a long, while the price of the project crashed so bad, Investors ended up losing most of their investment. I believe if you want to hodl, let it be that you are the one making that choice because you've seen the potential of the coin and not because the devs said so. |
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Bitcoin and ethereum is now increasing the price day by day. How how to choose and invest the coin. Bitcoin or ethereum which is the best future investment and how to invest the coins. Kindly explain me the Bitcoin and ethereum coins deats. Kindly share the link also. Which is best opportunity for invitations coins. Kendriya give me your advice to invest the best coins
I like Eth from BItcoin cause Bitcoin has a blockchain when dumping its dump 20% to 30% but eth does not dump similar. and another cause is my balance is small where I cant invest in Bitcoin so I always trade with eth or usdt pair. Of cause, everyone has that personal choice in the crypto space so you probably still remember just a few months ago when everyone was screaming about the fees of transactions with Ethereum, some would say that makes it not worthy but is that really the case? I know the question has been asked, but I can't really take sides with either one because both crypto I have invested in and have had amazing profits from and still hodling some qauntity of both till now. |
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It has nothing to do with being rich or poor. The rich could aswell be taking big risk if all his/her money is invested in Bitcoin at once. I think what is important is to invest part of your money or what you can afford to risk/lose, whether you're rich or not. Don't put all your eggs in one basket in an uncertainty world.
Being a rich or poor investors both will take a risk but I guess the different between the estate of being rich and poor investor to a state of HODLING is that the rich could afford to HODL for a long term and will not be afraid to take it in in a long term because they have still a source of income while being a poor investor a long term HODLING means everything to them. I mean being an investor with a limited amount of money will be a total risk and that is why is a common advise to everyone to invest only what you can afford to lose.I hear what you are saying but it is not more of a risk than of choice, patients, and convenience. Let's say a poor investor invested some money into Bitcoin (Choice) which is good but this investment was when Bitcoin was trading around $60k+ and now the price has dripped which we all know, but is it now easier for this poor investor to HODL? (Patients) yes he can, but the problem is, there could be a situation in our daily lives that will be easy for the rich investor to handle with other funds but not the poor investor (Convenience) so he might end up selling part of his investment. So, with everything being equal in the market, with no risk of losing money, the rich Investor is still in a good place because of access to extra funds. |
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I'm not only an investor but also a bit of a trader. I usually make long-term investments but sometimes I prefer short-term ones also. And I make the short-term investments with altcoins rather than Bitcoin. Because I don't think that Bitcoin is very ideal for that.
You are right. I believe most crypto traders will fall in these two categories without knowing it and like me also, I naturally like to hodl my crypto assets for a longer period of time but I wouldn't mind taking a trade if the opportunity in the market is right for a quick short term gain but never really focus much on regular day trading. |
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The Amazon news was confirmed to be a rumor so far. The prices of Bitcoin should fall back down in 2 weeks time. Then buying opportunity around $30k Bitcoin.
Everyone always talks about a buying opportunity once the price drops but most never actually buy but talking about how that price will continue to fall. However, it is not certain that the price of Bitcoin will fall back down to $30k because Amazon confirmed that the rumor was not right but we can see that the Bitcoin price is still holding around $40k current trading @ $39k+ as am writing this. Let's see how everything goes in the next few months. Obviously some people do buy the dips or otherwise we wouldn't see those strong resistance levels hold. If Bitcoin drops 20% I think that is when real opportunities arise. 10% up or down is neither a threat nor a great opportunity, but if it loses 20% that's where you can slowly expect a bounce back in price. Even though Amazon now denied the rumors Bitcoin is still holding strong. That is a very positive sign! No question, I too believe that some investors buy the dip even though @nicerypto was right about people always talking about price dips and end up missing because they were still hoping on some more downtrend. True that Bitcoin is still Hodling good in the upper $30+ks despite the Amazon rejection of them accepting Bitcoin by EOY which shows that, Bitcoin seems to be doing good and I have seen some charts from some Analyst indicating that Bitcoin seems to be recovering when compare to past weeks/months price chart. |
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Holding coins and tokens and not looking back until you start hearing how big crypto market is will leave you in a very bad mood, I'm sure this must have happened to some people here as well, this is my new sad story, I have some moozicore and nxps in holding and I just heard that they swapped to new coins leaving my tokens useless
MZI swapped to MZG
NXPS swapped to PUNdiX
I hope others will learn from this
I guess you must have been or of reach with these projects social media for a while, because I do believe that, this type of swap would have been announced on most of their social media handles for sometime before it takes place and I have been in some crypto space where after months have passed of the swap, investors come and ask this same questions. If you hold some coins/tokens, I believe, that following up with the project is key so that you don't miss out on info like this. |
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"Is it easier to HODL if you are already rich?"
Yes.
Or if you are at least financially stable.
Yes, I agree that if you are somewhat financially stable, it will be much easier for you to HODL. Sometimes things happen in your life that needs some financing and you might end up spending out of what you already invested in crypto by selling some. This has happened to some of us no question and I believe that if we had another option, that wouldn't happen, so yes being a bit financially stable can help in hodling. |
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There is always something manipulating about crypto 😃 that is what all the FUDs are all about. Sometimes people might create news just to either bring down the price of the cryptocurrency market or try to use the news to pump the price which is the whole essence of manipulation. With Amazon coming out quickly to address the rumour means, it wasn't from Amazon in the first place and a purposeful act by someone or people. |
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Bitcointalk Username: Henrobakkara
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ETH wallet [Address Must be from MetaMask wallet]: 0x56eeb32a7AfFe97F6570ff3F5906C69744fD3E22
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