Things you should know before investing in bitcoin
What everyone wants is to have a stable job and get good savings, the best option is to work the money to get more income for the future and thus have a better quality of life and what better to invest in bitcoin but before you should know certain things about This cryptocurrency.
it is not regulated: there is no entity that regulates and monitors this type of investment. So you should be aware that if you lose your money, nobody will answer
Bitcoin is a high-risk investment: people should know that the level of risk is very high, due to volatility and inability to predict its price. "
Do not get into debt to buy cryptocurrencies: this really should not be done with this or with another investment, if you are going to work your money with extra money you got.
Do not invest more than you are willing to lose: "it is recommended that you do not invest your savings in this currency; on the contrary, invest 1% of your assets, something that you are really willing to lose".
Use reliable pages: use safe sites to navigate and also only use reliable devices such as your cell phone, your computer and your home's wireless network. Never use public networks neither to make investments nor for any type of financial consultation.
Before you are going to invest in bitcoin, you must have studied what cryptocurrencies are, pros and cons of each cryptocurrency, you have calculated the risk that you might take, and accept the fate that you might lose here. Investing is making yourself comfortable to that currency and wait for it to become big. But there are chances that the thing where you invest will not be successful. With this, you might feel burnout or anything. You should be ready for these kinds of scenarios. Study it well, before going to invest in a particular cryptocurrency. |
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As we can see that after the overwhelming 2017 when bitcoin and alts used to rock everybody with the enormous returns that they gave, everything relevant to this caught the eyes of many Governments and bitcoin also got considered as a matter of topic to be discussed about, in many official meetings held by these governments. The way these people came up with their so-called negative comments and some very sophisticated, yet confusing statements that bitcoin is ponzi and we will not give it the position of a legal tender - made every bitcoiner think that they'll actually ban it. And such mess created a lot of panic in markets where only sells took place.
When people are looking it as a matter of worry, I think that Governments just tried to create panic in markets to purchase Bitcoins themselves at these cheaper values, and once the chaos gets settled, the value will bounce to such a level where small investors won't be able to buy Bitcoins. What do you think? Do you agree with what I think? I think buying at current rates when some "fools" are selling it is the best option to earn great profits this year alone as Investors are predicting that bitcoin may go to $25000 during mid-2018.
Government has the power to lead its territory or country in terms of using bitcoin, they can easily banned it or they can easily let people use it. Yet there are no assurance that they will be able to provide the price for each of cryptocurrency. It is still by chance, if there are so many buyers, then they might decrease the price, and then if there are no buyers, they will make the price high. It circulates like blood, they need to balance the system so that no problem might come in the future. |
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we see bitcoin today experiencing high fluctuations below and will always drops, probably going back to the point of $ 4500. but if I look with bitcoin stock today which a little again $ 3.5 million , then this condition is not normal. because it should be when bitcoin is scarce, then price and value will quickly rise and higher. but today why down? do we have to wait 1 million bitcoins?
Bitcoin has a large amount of it and even though we think that it is low, it does not in scarcity. It's just there are several reasons beside of that. We can associate the countries that are banning their territories to the influence of bitcoin. Another one is the market cap it made. We can manage them through the use of several sites that tell us the price of any cryptocurrencies. If we are looking for a high price, then we deserve to wait for a long period of time just like last year. |
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At present, bitcoin prices are down at $ 6,644. This is a opportunity to buy bitcoin for long-term investors.
But still need to be careful as the downtrend remains. The reason for the bad market may be due to an increase in access bans for international trading sites in China and the number of banks prohibit credit card payments for cryptocurrency
As the price goes down, it is necessary or we can say that it is great to buy bitcoin since the price is low, which is affordable for the many, and once it goes up again, we can gain our profit through its volatility. It is yet risky since we do not know how to deal with these kind of changes in the price of bitcoin, yet it is fortunate when the price goes high again. We should take the risk of losing money at first but we can also manage to go with it once we get our profit through investing money. Banning of bitcoin internationally is not a new problem for bitcoin, they will gain back the trust of those countries for sure and will rise again. |
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Hey Bitcoin legends what you think is bitcoin coming back to normal again? Will it go back to $15k? Most important question should we invest now? Also see 24hr vol graph people are investing. If we are referring to 24 hour volume graph change of the price, it is not enough to become the basis so that we can assume that it will go back to $15,000. For the question, then it is good to invest in the time like these, since the price is not high compare to its highest point of its price. Comparing to the past, this is already a high price for them since the lowest price that time is about $2,000. In relate to what is happening today, the lowest is $5,000-$7,000 and the highest is about $20,000. We can expect of skyrocket of price since the price goes down. But most important of all is we can make investment at time like these. |
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Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
Definetly yes, that true if bitcoins is banned in one country altcoins is also affected,and all things that talking about digital currency is probihited if banned implemented to that country,even those small crypto like faucet games would not be allowed,because if government implemented a law,there so many article,that they consider that not allowed.I hope that this things should not happen into my country,because many of us will affected and cryptocurrency is part of our life and everyday gestures. Most likely, once that bitcoin got banned by a country, then all the cryptocurrency and altcoins will surely next to it. Why? Bitcoin is the number one of the cryptocurrencies. Banning the first will also banned the others. It is like a domino effect that will affect all of them. We can also see the connection of cryptocurrencies and altcoins through its price. Once that bitcoin goes down, other will go down as well. Banning bitcoin is like banning any transactions without the process of bank and that is the function of other cryptocurrencies as well. |
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I have a lots of patient for the bitcoin and I also invest my money, effort and time to it. I am earning an income in the bitcoin even I am a student. Bitcoin gives me a lots of opportunity. How about you?  Share your thoughts and experiences.  Yes these are the things you needed to have a success as a newbie or as a veteran here in bitcoin. People thought that when they started here in bitcoin, everything will be just fast as they want. Patience will go in through this. We have to wait not just a week or two, but a minimum of 1 month or 2. Next is the time, you will not be successful in anything without allotting time to it, just like in bitcoin, you have to study it, you have to read and post, you have to do a lot of things that will require your time. Another one is effort, allotting time and patience are already an effort. Investment, it can be and might not. Not all the people who have got their success in bitcoin do investment. Some of them just tried their luck through here in the forum, or maybe in gambling, mining, and faucets. |
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Of course it is a threat to banks that's why they are thinking of ways to make people think that investing in bitcoin is bad idea and their money will be worthless in the future. As you can observed, most of those people who appeared in news are those bankers who will say their opinion about cryptocurrencies and it would definitely be a negative opinion to convince others to continue to trust them and not pull out the funds of those who are already diversifying their investments. Since banks are big source of tax as well then they have a power to influence the decision of government and then make up some stories so that government would ban cryptos because they are afraid of it.
Bitcoin does not need middleman or 'banks' in having their transactions. This is the reason why bitcoin impose a big threat to governments specifically the banks. If all people turn out to be using bitcoin, then it will be a disaster for them, they will be useless if this event will happen. But of course, not all the people can afford or has the ability to join because of personal excuses so that banks are still in function. Its just the function of banks will be lesser than what they are in the past. |
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Some country have accepted the bitcoin as the payment for transaction everything by bitcoin be the payment, they have allow for the bitcoiner using bitcoin as the payment for their transaction like United State, Japan, Russian. but any country still not allowed for make transaction by using bitcoin as the payment because they wanna bitcoin will be change the the using of their money. by using bitcoin will be less people using money and the value of the money will be not increase.
There are lots of countries who accept bitcoin payments. According to Prableen Bajpaj in his article entitled 'Countries Where Bitcoin Is Legal & Illegal (DISH, OTSK)', bitcoin is anonymously used in transactions that can happen anytime and anywhere. They may used it to buy things, sell illegal goods like weapons and drugs and others. Here are the countries listed to be said that say 'okay' for bitcoin. United States, Canada, Finland, and Australia. In United States, they positively accept it yet several agencies in their country prevent the usage of bitcoin. In Canada, they used bitcoin for exchanges and service businesses. In Australia, they used it for mining, trading and buying bitcoin. |
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I'm seeing more and more new people to crypto parroting the mantra that Bitcoin is old tech and needs to die.
Yes btc is to some extent old tech and yes there are faster, cheaper blockchains. But newbies and even some veterans need to be careful cause if enough people think something then it tends to be a self-fulfilling prophecy.
Problems that come with taking btc away as root of cryto are really not known. I suggest to you nothing good will come from it and crypto needs btc as a solid reserve currency of sorts and most gains people have made in alts are due to btc rise. Take Bitcoin away from top slot and I think crypto becomes unstable. IMO.
As long as there are people who believes on bitcoin, then it has to continue its service to us. Other cryptocurrency or digital currency are nothing without bitcoin. If we are going to look at coinmarketcap.com, the prices or the change rate of other digital currencies are aline with what is happening to bitcoin. As of now bitcoin dictate the fate of others. It is true that if bitcoin got away with this, then there will be a huge problem for others. It is good to be ready since there are lots of people who wants bitcoin to vanished since it has the highest amount now, yet become lower as the time goes by. Maybe this is one of the reason why they do not want bitcoin all of a sudden. |
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Yes it's true that's one of the advantages bitcoin, I think there are still many advantages provided by bitcoin like young children can learn to make their own money so more independent not a few of them can produce more than people who work office. For like me, just a housewife can earn extra by simply online from home without having to leave child and home. There are lots of advantages of bitcoin. We can enumerate at least 3 but there are so many. People who are using bitcoin help themselves to have a job. It decreases the unemployment rate since bitcoin serves as a job or after getting the money, they can build the business that they want and serves again as a job. Another one is that they can be helpful for students and ordinary people as well. They can use it to make money without even investing money. It helps to buy things that they want. |
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I think there are two factors here. The banking/debt crisis, and the emergence of crypto-currencies. It won't be Bitcoin that will destroy the banks, it will be the politicians who are taking bribes to allow rubbish derivatives to be created, and then allowing bail-ins for the banks to cover their fraudulent lending, who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.
Not sure what I'm talking about? Look at the recent permission to allow fracking in the UK, and the bail-in of Cyprus and the Greek banking theft to help DoucheBank.
As we are looking for the function of banks, which is being the middleman for any transaction that is happening, it might have the possibility that sooner or later, bitcoin can make banks disappear since bitcoin does not need any middleman in its transactions. If not all of us are gonna use bitcoin then banks will not disappear since there will be people who are still going to use the banks but if it is getting bigger in population of using bitcoin, then it is bad for the banks. |
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This just proves that Bitcoin has much more room to grow.
Imagine if everyone knew what Bitcoin is and what makes it so great. The price would skyrocket.
It's happening, but slowly. A couple of years ago that social experiment most likely wouldn't have anyone saying they'd prefer 1 Bitcoin.
In my country people vaguely know that Bitcoin is a very valuable digital currency so that social experiment would be very different.
If people want the good thing Bitcoin could give to people it is a good way to form or to try don an social experiment for other people to know the system of Bitcoin in a different way. Sometimes factual thing are boring and it might hinder the education process that may lead to counter factual knowledge about the real system of Bitcoin. |
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I think the best way for you to know what is the best way for you to invest your money in any form of cryptocurrency is to first take your time on learning the system of transaction of bitcoin or any crypto-currency because in that way you could actually know if you are going to earn with a particular thing because you are the one who are going to take time to deal with decisions and transactions.
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There are no banks who accept bitcoin, but with the majority of banks you can withdraw money to an exchange and buy bitcoin.
I use kraken and when i want to buy bitcoins i just iniatiate a SEPA transfer and voila i can buy bitcoin.
Banks are not related when in terms of cryptocurrency. And for sure they hate it, that's why bitcoin was termed as decentralized. Maybe banks are not accepting bitcoin or any cryptocurrency but there are online shops or maybe stalls that accept it in other counties like in Overstock.com, Newegg.com and others. |
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I sold some at 10,900 hoping it will fall again to rebuy in the 9000's as I purchased some around 10,300... Do you guys think another temporary slump will happen soon? Or cut my losses and rebuy now at over 11k?
It is pretty high these days and it is staying right now at $11,000. It is high so the only possible movement of the price is down but I doubt it will be reaching way back to $9,000, maybe at $10,000 but not gonna touch back again $9,000. For me it is better to wait for some good movements before deciding to buy again. This is the last month of the year and most of the good prices and ATHs happened in the last month of the year. Better be patient mate. Actually there is no impossible. Everything might happen in just a blink of an eye. Maybe tomorrow it can go down $10,000 but also there is a possibility that it continues to goes up until $15,000. Everything can happen but of course it is temporary and will soon goes up. Let's hope for the best. |
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many of those "many people" you see are not against bitcoin. they are actually heavily invested in it but they pretend otherwise. someone who is spreading FUD in 99% of the times wants the price to drop so he can either short bitcoin or because he has some buy orders placed ahead of time at certain low prices. i honestly can not think of anybody who does not benefit from bitcoin! even banks that some people say are against bitcoin or bitcoin is against them are happy about bitcoin. not only bitcoin introduced blockchain technology to them to improve their business but also it has opened up new ways for banks to make money. banks are in fact making a lot of money because of bitcoin, all these traders are using banks to handle their money transfers and there are lots of them  I don't have seen some people hating bitcoin actually. On the other hand they want it badly. They are so greedy to have it since they need money and they need it immediately. If there will be people hating bitcoin, then there must be a reason. Some of the reason I think about is that they don't have time to have those and maybe they get jealous to others who have. It is hard to accept that some people are making their lives good because of bitcoin, while you, can't do anything but to watch because you have no idea of how it works or maybe you don't have the time, or you are not interested. Maybe they also thought that it is unfair to others to the point that they think that 'how do they easily get money through that?' and possibly will lead to other questions as well. |
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Not properly looking into bitcoin when I first heard about it around januari 2011 and forgetting about it for almost 2 years...
Those would have been some cheap coins...
Maybe thinking that bitcoin is not that legitimate. Trust issues is the number one, lacking of it will lead to regret. Maybe I have started a long time ago so that I can get more ranks. But it is better to be late than never. As of now it is good to be part of this. Also starting late has good sides too since the price of bitcoin nowadays is so high. |
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I honestly have no idea. I think you will be confined to face to face transactions so that you do not leave any trace. Exchanges are out of the question anyway. How do the cyber criminals do it anyway? I bet you would find your answer there.
We can have so many things to use bitcoin to. Some of these are good and some are bad. We all know that all of us use it for our satisfaction such as new things that we don't have in the past but after this so called 'new found wealth', we are able to attain it, we are able to reach it. But also on the other side, there are criminals who used it to bad things and we don't know what are those. Maybe buying slaves, killing people and others. But the good things is, it will help us majority that needed it for good. |
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