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The more new investors join, the higher the bitcoin price goes. It some what follows the basic economic principles, not fully though. More new users joining means, more new investors. More new investors causes the price to pump due to demand. Also forks have influence on the price of bitcoin. People stock up bitcoins to get the new coin due to fork, and once they get it they sell it along with their bitcoin causing the price to fall.
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Not really. It was already predicted on October that the price can reach $7000 USD within the next month if no barriers takes place. Predictions of price being at least or more than $10,000 USD within next year has been made. With the current rate, i guess it is quite possible to reach the predicted price before new year.
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i don't think there is any bank who accept bitcoin,but there are apps that allow you to sell bitcoin and exchange it for local currency and deposit in your local bank. Also i don't think that banks are going to accept bitcoin soon in future because of their kind of opposition to this type of currency.
Selling bitcoin for local currency and storing/depositing the money to the local bank isn't the same thing as banks accepting bitcoin. Once you convert your coins to fiat it does not count as digital currency anymore. And it's not the banks opposing the currency, its the government that hates the currency. Since it cannot be easily regulated and gives full freedom to the people the government is against the currency. Also storing your bitcoins in a bank also defies the main goal of bitcoin. |
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As I know there are no supermarket that accept Bitcoin for payment. Bitcoin is not legalized worldwide because of some reasons so it's not easy to find out a offline shop, store or restaurant that accept Bitcoin for payment but I think with it's possible if you want to buy anything online cause there are a lot of online market that you can use your Bitcoin and cryptocurrency to buy anything you want as long as Bitcoin is not banned in your country  ) Using bitcoin is not illegal worldwide except for few countries (less than four countries have banned bitcoin). So legalization is not the issue here. The main problem is that not many people are willing to go through technological stuffs. They rather wish to stay and run their business in simple traditional way. But spread the words and let them know how much beneficial bitcoin is and they might give a second thought. |
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What are you going to do before segwit 2X ? what is your tactic ? all in BTC ? hodl ? sale before 2X ?
Going to sell a portion of my BTC in next few days. Wait for the price to drop before the fork takes place (hoping that the price will fall pre fork just like the fork that took place few months ago) and buy more bitcoins and keep holding them. Will try to maximize my benefit through this fork. |
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Obviously cash will be extinct if other countries will follow, they will only have value for collectors and museums. But for the possibility of that happening I don't think so relying fully on technology for payment in the future might not be best for all of us, I mean not all people are technically inclined to use gadgets let alone make our legal tender virtually exist. It would take years before people will fully adapt to the new system as many people will still prefer the use of Fiat currency.
Not really. First thing, you should be thinking how imbalance everything would be. Underdeveloped countries who are not advanced with technologies would not be able to cope with international countries, thus causing more problems to them. Secondly, even if people do know how to use the technology, there will always be trust issues. Anything stored digitally can somehow be hacked through or cause disruptions. So people would still prefer fiat over digital money. |
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hacker are always trying to take money from wallet. I am very worried about the security of my wallet. what are the best way to secure wallet so that my bitcoin will always safe and secured. help me to find me the ways.
you can activate the 2fa mobile authenticator if you are using an online wallet ! You should never use online wallets. They are never secure and should not be used for storing large sum of coins. Using 2FA you will be able to secure it from your side, but if the site gets hacked and their cold storage compromised, even 2FA won't be helping you. Not reliable at all since the site may go down anytime and you may lose access to you fund when you will be needing them the most. |
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As a new user, can I start using Bitcoin without having to understand the technical details?
You don't need to know deep technical details but you must know the basics. You need to know how to transact and the fees associated with it. Need to know some stuffs about the wallet and to secure them and how to keep backup of your wallets. Tons of tutorials out there. Just google it and look for a simple version of the guide. Welcome to the community by the way |
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I just started receiving $10 worth of btc in my android wallet. The process so far has been over 45 minutes. What is the longest wait you have personally experienced?
Bitcoin transactions are instant. It is just the transaction confirmation time that might take ages depending on the fee you paid. Usually higher the fee, faster is the transaction. When i need to do a quick transaction fee and usually pay higher fees and the transaction gets confirmed with 10 min. Placing less fees gets my comfirmation done with ~60 mins. |
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Hello, which factors determine the total supply of an altcoin? Also the circulating supply?
There are no factors to be honest. The developers decides themselves the coin cap/total coin supply. This total coin supply and current circulation supply helps to determine the price of the coin.The less the supply and more the users, the higher the price will be. Look at doge coin. Has no coin supply and one doge is just less than few cemts |
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In the past bitcoin were traded by a few people wich had made the price to crash without any possible support, nowadays we do have huge supports that wont let the price to crash soo easy. Nowadays bitcoin still vulnerable to some news, like what happened with China, as well with the first fork, the community had learned a lot and send a message to all, nobody can take us down anymore no matter the influence.
The chinese incident where they banned ICOs and exchanges was actually a good thing for the bitcoin community. Bitcoin was able to proof that it did not depend on any specific country and the is truly a global currency. And price drop does not mean that only few people are trading. It means that the investors are trying to cash out their profit. As soon as the price drops new investors join in and the price goes back up. |
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Chances are high for bitcoin to reach the price before the end of the year. If the price can hold its current position without dropping we can see $7000 coming soon. We have another fork coming this November. If everything goes fine without any issue and the legacy chain still dominates then that price can be expected without a second thought and we will be seeing a new all time high.
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Right now I'm asking for your contributions because I need to learn more investment patterns other than the ones I already know. Now my question goes thus: let's say you have $500 how would you invest it to pull in maximum amount of profit for you either monthly or weekly. Please I'm not talking about just keeping the money in a wallet and expecting the value to increase.. I'm talking about contributions on how to make your money work for you and even grow bigger while you're asleep or busy with your full time job
You will need to work a bit if you want to get some gains from your coins. You can start trading. Trading has it's own risks but much lesser than gambling. You can control your risk, but you will have to keep your self updated every moment. Or you can try investing your money on a casino bankroll. Your profit might fluctuate but do keep in mind that in the long run you will get profit. |
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Dear brother and sister,
I'm new in crypto,
What wallet u guys use ? For beginners like me...
Easy to operate
Thanks for give some idea and suggestions..
The best wallet to be using is the wallet developed by the core developers of that particular coin. They are much secured than other third party wallets. You don't want to compromise your security for sake of easiness. All wallets are easy to maintain if you try though. And never use online wallets. They are total NO-NO! |
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No. But I had a different problem. I lost much of my gambling time due to too much work.  I would like to bet more on the in-play. But for that, I need to be online constantly. If I work too much, unfortunately, I lose my precious gambling time. This means you have issues and should work to fix it as soon as possible. Thinking that your work is wasting your time and you need to spend more time on gambling means you are addicting to gambling and can't spend a moment without thinking about gambling. You can save yourself and it's not too late. |
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It will be better if you put a 10% of your salary into bitcoin, and use the the remaining 90% for your daily needs and activities.
Converting everything to bitcoin is risky but 10% is way too less in my opinion. I would rather suggest him to put 80% of his "savings" on bitcoin and store rest of his savings in fiat so he can use it when he needs it on extreme emergency situation. Note that I am talking about his savings, extra money left after paying his bills and rents and daily stuffs. |
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Being rich through gambling in a much faster way requires large sum of fiat to invest into bitcoin or a good capital volume to get into trading. When a big profit is expected in much lesser time the risk associated with it'll be very big. Here sometimes the user might end up losing expecting for bigger profits.
I don't get it why people suggests other to gamble to get rich quickly. I know it's a fastest way but you guys sound like it's a piece of cake. If it was that easy, everyone would be gambling now and be rich. Risk associated with it not worth trying. You will end up being poor faster than being rich, since in gambling there is house edge, you less chance of you winning. Take it slow and steady instead. Less money but less risk and you can exit anytime. |
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Yes, Bitcoin wallet can be hacked. That's why you should consider using a software or hardware wallet instead of web one. Private keys are the proof that you are the owner of you bitcoins which I technically stored on every computer which use Bitcoin Core for example. Web wallet stores them for you so basically they are in charge of your money. It means that if someone gets into your account you will lose your money. This is why it is important to buy a hardware wallet (if you have a lot of money in crypto) or just use software wallet and encrypt your private keys. It will be a way better solution.
Lol just using web wallet want back you vulnerable to hacks. You sir, need to learn more about keeping your wallet safe. Just using desktop wallet and having access to your private keys won't keep your coins safe. You should make sure your computer is clean and always backup your wallet. And the safest ways are storing offline and using hardware wallets. |
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I was asked by a friend why I don't promote Bitcoin { why i hated it} but love promoting altcoins. My reply was that Bitcoin can't give me 1000-5000% ROI in 2-3years time anymore but with altcoin that is possible.
I notice that each time I promote Bitcoin, I'm giving the early investors easy passive income why I settle for chicken gain.
Honestly I will prefer $50,000 in altcoins (with possible potential, underpriced and undervalued) than in Bitcoin.
Do you hate Bitcoin? Give reasons why you do or don't
That's a stupid reason to hate bitcoin. And I don't think there are any alt coins that will be giving you around 1000-5000% ROI in 2-3 years. You need to be extremely lucky to find one. Like you might get lucky with a shitty pump/dumb scam coin. But you will have to bear your own risk. Investing in bitcoin is less riskier than investing on those shit coins though. |
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this whole bitcoin splitting issue reminds me of when ETH and ETC became 2 distinct cryptos. I don't know what to think about the splitting of btc but i could imagine that the bitcoin we know will take a while before it's overthrown by another cryptocurrency. I have high hopes in ETH too, just don't know if they'll beat BTC this year.
ETH won't be beating bitcoin anytime soon. And a splitting already took place before and everything went fine. Bitcoin Cash could not over throw the legacy bitcoin, and I don't think any split will be able to do so. Another split is coming soon around November, though support for 2x is declining. Lets see what happens then. |
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