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Sure all of us want to be rich!!
But almost none of us will really achieve that.
I think the crypto industry can be compared a little bit with the gold rush.
From those who went searching for gold just a few turned out to be wealthy.
But those who sold shovels and mining equippment, they made a fortune.
Hard working alone won't make u rich. You need to be smart to reach that goal.
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We have already seen a few forks now.
I think it will be the same: After the fork there will be two seperate chains. Again!
And their combined value will be higher than the price it was before.
I suppose many people have already drawn the same conclusion than me.
And those will buy before the fork. My guess is the price will increas to the date of the fork.
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You can use bitcoin as a form to transfer value in corruption.
It is a persons choice to do a corrupt act, and bitcoin is only a chosen method to play a role in it.
I would not say that bitcoin leads the people to corruption. It is used for it. I think there is a difference.
What I must admit is that in corruption bitcoin can work as a catalyst.
But the basic problem is there, with or without bitcoin.
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I think that the really important thing for bitcoin is not to have another chain split.
Many people don't understand what happens during such a process.
This shakens the one thing that bitcoin has built up during the last years: trust!
Without trust there is no new money and no further developement!
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I would not set it up like a faucet.
I think it could have some kind of success if players are able to compete against each other.
Maybe something like a tournament.
While training is free everybody who wants to participate at the tournament must pay an admission fee.
70 % of those fees are given to the top five players as a price in bitcoin.
The rest is profit for the business.
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I don't think that hoarding bitcoins is bad for bitcoin.
It's against the original idea of bitcoin that ment it to be a payment method.
But ideas sometimes change when they are confronted with reality.
People hoarding bitcoins increased the worth of bitcoin. News spread out even to mainstream media.
And that attracted more and more new people into bitcoin.
This is a very positive effect I think.
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My bitcoins are already taxed at the point when I sell them.
This does not decrease my demand for them. But it means more work for me.
I have to study all those taxe rules and make my tax declaration.
Profit is still there, and that is the most important thing.
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Quitting a dayjob to go in bitcoin, you have to be very sure about what you are doing.
If you are a good coder with an idea, planing to open your own site and having some funds in the background, why not.
But if you only don't like your day job and think that bitcoin is easy money, it would be a very bold move.
One that you would most likely regret.
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Bitcoin has a bigger price increase (at least at the moment), gold is more stable.
Bitcoin is easier to move, gold is harder to lose.
Bitcoin can be used for microtransactions, gold is needed by the industry.
Both have their strong sides, it depends on what kind of investor you are which one you prefere.
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I think that would be a risky strategy.
Minng in bitcoin cash for two weeks would bring you lot of bitcoin cahs.
But bitcoin cash is even way more volatile than bitcoin at the moment. Yo can not predict at what price you will be able to sell it.
And after those two weeks you have an incredibly high difficulty there. When you go back, the transactions of bitcoin cash would be really slow.
That would drag down the price of BCH.
I think you could play that game maybe twice, but after that all trust in BCH would be lost.
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If the couple asked for bitcoin instead of money, I would give them the coins.
But if that would not be the case I would bring whatever is on their wishlist, or the local fiat instead.
When the people are not into bitcoin, I think it would be intrusive to use their wedding for an attempt to bring them in contact with bitcoin.
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Kenneth Rogoff, a professor at Harvard University and one of the world's most prominent economists, said central banks across the globe must start preparing themselves to introduce negative interest rates during the next global recession.
Negative rates are already in place in several major economies around the world, with the European Central Bank, the Bank of Japan, but other banks around the world would be wise to make preparations as well, Rogoff wrote in a new paper for the Journal of Economic Perspectives.
He said:
"The growth of electronic payment systems and the increasing marginalisation of cash in legal transactions creates a much smoother path to negative rate policy today than even two decades ago."
Negative interest rates will kill the financial industry and help for mass cryptocurrency adoption around the world.There`s no point to deposit money in the banks anymore.They are funded only with loans from the central banks,which print money and increase the "marginalization of cash".  Thank you very much bankers.Bitcoin and the other cryptocurrencies will succeed because of your failure. Why on Earth would a bank lend money in order to lose it? Isn't that what negative interest rates are? You get PAID to borrow money? AM I missing something here? How does anyone profit by lending money with negative interest rates? I am guessing they rely only on someone not paying back the loan or spending it foolishly to take whatever collateral is put against it. That is actually the only way to profit. If this happens you can rest assured crypto will soar and take over. There is no doubt about it. A negative interest is the leading interest from the central bank. Every bank must have an account at a central bank. Money has to be on that account to a certain degree, that demands the law. With positive base rate of interests they get money for that, is it negative the banks have to pay the central bank. The banks try to pass that negative interest on to their customers who have money on their bank account. And of course, if they give somebody a loan, they don't do that for negative interests. |
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In my country bitcoin has already declared to be legal.
Authorities have given orders how selling coins will be taxed, and to trade coins at local exchanges you have to verfy with your id.
In regard of all this, I do not suspect that a ban will ever occure.
Considering the taxes, the state already earns from bitcoin.
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I would say that it might be a good idea to have a class that handles all things concerning money.
Taxes, insurances, stocks, pensions... The basics from everywhere.
And in such a class bitcoin could fill a part in the investment area.
I don't know why our kids leave school being able to analyse a poem, but whithout having any clue about how to handle money.
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I would still think that an investment in bitcoin is considered to be risky.
There are many things that can go wrong. Not only a decrease in price.
Keys can get lost, wallets can be compromised, transactions can be sent to a wrong address.
Once your coins are gone, nobody will help you to recover them.
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Holding still everything that I got when bitcoin cash was created.
I am not planing to sell. I did not have those coins before the fork, so I was not calculating with them in any way.
Maybe they surprise me some day, then I will feel glad not having sold.
And if they should vanish in the big ocean of low priced altcoins, then at least I have not lost anything.
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Bitcoin will not replace the dollar, nore any other fiat money.
When you look at bitcoin, I suppose only a very small fraction of the society owns some.
How could such a currency be a replacement for the dollar?
And then you have to consider as well that bitcoin is on the way to become an asset. Moving away from being a currency.
Replacing a currency with an asset, that's not possible in my eyes.
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If you are in need of the money, cash out whenever you need it.
If you have an investment plan for bitcoin and nothing has really changed for you, I would advise to stick to the plan.
If you just see the high price, think of all those guys who thought that 500$ was a high price and sold at that point.
It's not easy to give an advice right now, but don't rush things. Think them carefully through.
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BTC value is increased by nearly $200 daily.
is there any chance to BTC value go down in any period of time?
If that happens how about all these people who hold BTC as an investment?
BTC is not some sort of miraculous investment vehicle that only goes up and never goes down. That would just be absurd and impossible. Yes, of course there will be a chance that btc value corrects especially after this big pump. I really wouldn't be surprised if the price went down by $500 a day at the start of next month and people realize that the current price level is primarily unjustified. What will happen to these people? Well, if there are a lot of traders going long with bitcoin then it'll cause a long squeeze which unfortunately will mean that price will be driven down even further as a result of long positions closing(opposite of short squeeze). I suspect more that the current price increse was driven by many small investors. Not so much traders. They want to hold bitcoin for a long time, several years. That kind of people does not sell so easily. Even if the price gets pulled down by the moves of some investors. That's why I suspect a correction to be possible, but not a very large one. |
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Cashless will come, I am completely sure about that.
In ten, maybe 20 years people who pay cash will be something like a dinosaur.
Look at Sweden: I have read a statistic that says in 2015 only 2% of the value of all payments made in Sweden were cash payments.
In 2020 it will be 0.5%.
Most parts of the world are not so far yet, but it will come.
Paying cashless brings a lot of advantages, at least to the economy. And that is where the money is made.
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