The challenge is here for traders, not for true holders  Traders always looking for profits, and this China news really a good speculation to dump whatever you have and buy back later when bitcoin fall to the bottom line. There's no any legit news report about China government really ban bitcoin and it's impossible I guess, so better to keep your bitcoin safe (for holders) and prepare to buy more cheaper coins if bitcoin price will fall even further. It's discount time. |
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Do you think that the price of a single Satoshi will be something like $1 one day? Or even more than that? Will there be fractions of Satoshis in the future like mSatoshis (Milli Satoshi)?
If yes, we should fight for every single Satoshi now as long as the price is relatively low. Use faucets, trade, buy, mine and hold them until you are rich. It's too late now to get whole bitcoins (too expensive) but some thousands of Satoshis here and there could be a lot of money in the future.
I am not sure about that, bitcoin could reach fantastic price but we don't know for sure, how much it will be. But, there will be no milli sats, no fraction anymore as the nodes written that way, unless there will be another hard fork to add another digit. Bitcoin price is expensive right now, but consider as cheap if bitcoin reach $10,000 or even $20,000. Every sats is precious, as long as you can get it, make efforts to do it because bitcoin still on the beginning of development. |
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When can you say the price of bitcoin is already or nearly bubble?
Do you expect that the price will dump in coming years?
In short of, I consider bitcoin as bubble even not all of its characteristic could be called bubble. Bitcoin gain value from huge flux of money invested by people who believe in/ or want to trade bitcoin. For people who treat bitcoin as a digital currency, store of value or a medium of exchange, bitcoin really has advantages which can be used for various purposes. But, for traders, bitcoin like bubble, they buy bitcoin and hope more people buy it at higher price, so they can extract profits which is money from others who invest in bitcoin at the peak. |
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Ok. So, in other word, you think China is among the core upholder?
Consider the mining farms, mining pools and how much bitcoin being generated in every hour, yes they're. Chinese miners hold big portion of bitcoin from mining activity obviously, but we don't know how much, the exact number. Even though the miners have to sell bitcoin to get cash in order to cover their mining expenses, but they still have huge amount of bitcoin in their wallets. |
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After PBOC ban ICO on China, cryptocurrencies prices fallen down because excessive reaction from people in the market who want to extract the profit. Do you know the biggest mining pool located in China? https://www.buybitcoinworldwide.com/mining/pools/The groups of miners who have the biggest mining farm, generate hundreds bitcoin everyday. If China ban bitcoin, do you realize what will happen to bitcoin? The price will crash because the market react according to current situation in the world. Fortunately, they didn't do it. |
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Yeah, the refund system is up, but if one request for refund now they would have to forget about the 45% of their money. better wait till september 15, then request for the refund/withdrawal. then you'd be getting 55% refund/withdrawal and 45% IOU tokens. Get 55% refund is a good deal since there are many people may lose their money in BTC-E, I mean better than nothing. I'm wondering about 45% IOU tokens, what kind of token it will be? their own, maybe BTC-E token? Tokens will be credited to your account balance, which you can use for bidding and releasing codes,"Skeptical about this token, if this token could be convert into bitcoin or fiat currency, then it will be a pain relief. |
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OP you say that The idea is not what is important. I can't agree you, innovative idea is what makes business successful but also idea needs to be realized in a smart way. Imagine google, it's not a first search engine but with it's speed, design and functions it become first. Also bitcoin, not a first one but it was still an innovative idea like google because on that time there was only 2-3 simular thing.
Also don't forget, we can patent idea and earn money with it.
“The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”That's way Op mentioned it, there are a lot of ideas, there are many similar business, ideas are dime dozen but the most important thing is how to develop the idea, make it better, implement it. Just like you said, Google isn't the first one, the idea still the same > a search engine, but Google could manage to develop and implemented various features to make their product better than yahoo. I'm not sure with bitcoin, as far as I know bitcoin is the first decentralized digital currency. |
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Reputation used to be something you could rely on when dealing with people. However, now even Legendary accounts can be purchased so this is not a solution anymore.
However, using ESCROW for any transaction over 0.1 BTC s something I d definitely recommend. There re even free ESCROWS here and if the other party refuses to deal with ESCROW, well you know what s the problem then.
Indeed, third party or middle man which provides escrow service will be better than nothing as assurance or anything as collateral. But, there are a lot of ICO that doesn't use escrow for their crowdfunding, if the project fail, there's nothing you can do about it but only complain which is just a waste of time. In other words, do not invest on random projects and just invest some money that you're willing to lose. |
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Mr. Nekiforov has communistic wiev as I see. I think there is nothing in that bitcoin was a creation of some other country. The same way dollars and euro, which are actually used on the territory of Russia, should be stoped. Russia just make a step back in a technological sense and I really doubt their national crypto will be successful.
We have to understand that this is not actually the official stand coming from the government of Russia. Clearly the man is expressing his own views on Bitcoin and cryptocurrency and we have to respect that. Indeed, Bitcoin is not a creation of the Russians so it should be foreign to them but it does not mean that anything foreign may not have anything of value within the country. I am sure that anybody can also bring the dollar into the Russian territory and have them exchanged into the local currencies easily (as long as you don't bring a truckload of foreign money, of course). Bitcoin can be taken like a foreign money along this line of illustration and of course there would be rules and regulations to be followed. Nobody is restricting any country from introducing its own government-backed cryptocurrency and in fact it would be good to see them issue their own version of Bitcoin...let's see how successful they can be. This is actually the reason why we have so many ICOs right now...the market is open to all but sadly it is also open to many scam artists which is partly a big concerns of many authoritative bodies. Agree, this article was exaggerate an opinion from Nikiforof to become a state decision. I remember the news about a company co-owned Vladimir Putin plans to generate $100 million worth of cryptocurrency to start a large scale bitcoin mining operation in Russia as they want to challenge China for bitcoin mining supremacy. Russia government could create their own cryptocurrency but bitcoin and ethereum still better than theirs. |
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If you're looking to make any sort of profit from cryptocurrency and you're just starting out, what do you think is the minimum starting investment you ought to put into it?
Yes, I know "you should only put in what you're willing to lose" but surely there should be a barest minimum, right?
EDIT: If you don't mind sharing, how much did you start with?
For learn, I start with BTC0.01 just want to give it a shot. But I've learned that small amount will give small profit, then increase to BTC0.05, trying to make 10-20% profit from trading bitcoin, small profit but still a good way to increase the number. And now, I prefer to invest BTC0.35 on trading bitcoin and ethereum. Sell at the peak and prepare to buy back whenever dip occurs. |
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In this phrase is how I explain Bitcoin in all senses.
"Bitcoin is the most free and pure form of a crowd-economy, free from the oppression of governments."
I don't think so, Government could ban bitcoin and you won't say free from the oppression of governments. Bitcoin is King of cryptocurrencies, the first one and the most trusted digital currency, even there are some coins that literally better than bitcoin but doesn't mean people will divert their support. I consider bitcoin as a better monetary systems that still on development, inside and outside. |
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Vietnam plans to legalize bitcoin, I've heard Australia want to do so, Russia want to regulate cryptocurrencies and there's South Korean that plans to regulate digital currency as wel. The South Korean Financial Services Commission (FSC), announced on September 3 how they would deal with digital currencies such as bitcoin and ether, according to local publications.https://news.bitcoin.com/south-korea-takes-steps-to-regulate-digital-currencies/Australia’s move to regulate cryptocurrencies, including bitcoin, follows a similar move by Japan.https://www.ft.com/content/4cd5cc3c-8309-11e7-a4ce-15b2513cb3ffYes, the news seems similar which those countries "plans to", better than nothing. But, I will be happy if the news said "finally legalize cryptocurrencies", just like Japan government legalized bitcoin as legal payment. |
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If a big country ban bitcoin, yes it's a problem and may cause panic sell and the price will crash again.
I agree that we're not in the war, most government does not have detailed policies of regulating or banning bitcoins usage.
In that case, we still be able to use and trade bitcoin, as long as we do not use it for legal activities such as money laundering.
Some countries started to consider regulate bitcoin, intrigued by Japan that has legalized bitcoin as legal payment and it's going so well in their country. The best way about bitcoin is, it's decentralized which can not be controlled by government, they could ban bitcoin and exchanges, but people will always find some way to deal with the regulations.
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Thanks for sharing with us, I'll bookmark and add your site into useful source for newbies who wants to learn more about bitcoin, it's pretty good to inspire me as well. And it is possible for you to get more information about bitcoin projects where people could invest and get profits? not an ICO because I know there are some projects like that. Something like advertise some projects and get paid, or anything which will be profitable for both sides.
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With the rate at which bitcoin and cryptocurrency is going. Does any still think cloud mining is not profitable?
Yes, I don't think it's worth to invest on cloud mining even though it will be profitable, but in many cases cloud mining turn out as Ponzi scheme and many people lost their money, not genesis mining obviously as I know some people get profits after few months waiting for ROI. But, that's why I said it's not worth, waiting for months in order to get full return. I prefer to buy bitcoin, ethereum or other profitable altcoins whenever it dips and sell at higher prices, it may takes few days or few weeks instead of waiting for ROI from genesis mining which takes 4-6 months. |
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The question is; why didn't sold when it was $5000?
The idea of Trading is buy at low price and sell at higher price, for altcoins may takes weeks but it takes more time for bitcoin, better to hold it for months or years if you are not desperate need for money, except if you want to buy and sell in short term which that's why I'm asking you the first question. Do not sell when prices are falling, it's discount time, good time to buy more coins obviously. Keep holding.
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if you're a trader you should sell your coins when it pump up to $4900 to get profit because bitcoin right now 4600 so if you sell your coins while it was on $4900 then buy again when it reach right now $4600 you can get a profit from it but if you're depending on your investment and want to have more money don't sell it out wait till the bitcoin price reach $5000 this end of the year.
The race is over for now, bitcoin keep declining after reached $5000 mark. Good traders have sold their coins and waiting for the right time to buy back, look at the trend right now, bitcoin has fallen to $4145 on preev as we speak and seems will continue to fall down. It's a big opportunity for traders to buy more cheaper coins before bitcoin rise up again, recover to $5000. |
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The Chinese banned most access to the internet to via their firewalls and the people still access these sites. Agreed, the ICO's is becoming a problem and proper regulation would have been the best solution, but as usual the Chinese government over reacted and they ban something before they did their homework. Prepare for a much cheaper Bitcoin now, the market will also over react now.  Thanks for notify, current situation of the market is in shock after PBOC announced ban ICO. I agree not only altcoins but this also affect bitcoin price, maybe bitcoin could persist at $4000 levels. The good news is; most coins in the market on bloodbath, red everywhere which mean it's discount time. Don't worry about it, just buy more cheaper coins and prepare for the upcoming profits when the prices recover and rise again. |
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The best way to invest in cryptocurrency is divide your funds like 70:30 to buy bitcoin and ethereum right now. Current price of these coins still on the dips and will be rise again in this month, if you can wait at least few weeks, you can make another $1000.
I won't recommend to build your own mining rig as you will need more than $5000 to start and there's no guarantee you can make profits. And do not invest on cloud mining due to they offer long time taround 4-8 months to get ROI.
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I consider segwit could resolve bitcoin fees problem, I've sent bitcoin and just pay 40 sats per byte, that was very cheap even though still have to wait for hours to be confirmed. I've been waiting to not move my bitcoin until unconfirmed transactions and total fees drastically declined. Even though not all wallet already support segwit but at least we could set custom fees and no need to worry about it will be confirmed or not as long as the fees are convenient. Maybe another factor that really helps is butcoin cash hard fork. With Bitcoin Cash effectively splitting off, it seems those high fees are a thing of the past now. Everyone who wants bigger block sizes can effectively switch over to BCH.
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