I hardly think so. Gamblers only stop gambling when they have nothing else to gamble. Regardless if they already won or not, this will always be the case. Humans just have an insatiable want and winning any amount from gambling is never enough. Right now, you can say that 1BTC is already a good profit for you and you will withdraw right away when you win that amount, but sooner or later your nature of being a human will catch up to you. You will see yourself betting once again because you want even more profits. The ending would be you losing all that money or at least losing a significant percentage of it.

So if a house is worth one hundred thousand dollars and I have one hundred thousand dollars, I should buy that house? I already have enough money so I should buy it? I think that's no plan at all. You have to plan out how much money will be left on you once you bought that house. After buying a house, you also have to buy appliances, you have to pay the carpenter for fixing the hidden issues, etc. There's even maintenance fee. There's a lot of things to pay for after buying a house so you have to save a lot of extra money first. House should be affordable first before you buy it and it is said that to be able to say that you afford something, you should be able to afford two of it.

I doubt that. Simply because the Indians surely know about dollars and they could have converted their money to dollars through Paypal, yet most of them didn't do it. Bitcoin could have been a safe haven for them but so is any other active currencies. Others would be so skeptical about bitcoin just like any other newbies. Indian people didn't see it coming for sure because if they did, they should have avoided this.

It will still be the same zero sum game. You bought bitcoins from other Indian people, they get your Indian fiat (I don't know what it's called). The currency stopped having value, so the guy that sold you bitcoins would have that worthless paper. You saved yourself, but in exchange, the other would have to suffer; be it an exchanger or a person.

I use multiple exchanges but not for this reason. Yes it is true that you can earn some money by buying at a low price at one exchange and then selling at a high price at another exchange. But with the transaction time, I don't know if it's really achievable. Maybe if you know programming and can set a script for VPS, then this might work out. I'm using multiple exchanges only because there are coins that are not in bittrex. There are coins that are in bittrex but not in liqui and vice versa. There's also etherdelta and tidex where new coins are available already but not on bittrex and liqui.

Nope. Most of my funds are actually on altcoins. My bitcoins are here to support me on my daily spending. The altcoin market is a holy grail for a trader like me. Bitcoin can go up and down but in altcoin, coins will go down significantly and then go up significantly too after a month or so. That's the case to most new coins because the bounty participants dump their coins, hence, the low price. Then investors will come in, hence, the high price. There's nothing wrong with believing in bitcoins but with the August 1 scenario, things are becoming uncertain. We don't know how will it affect the price and we definitely don't know how will it bitcoin itself.

As of now, I'm just waiting in hope that the price will at least go higher than the ICO price of the coins that I have. Losses sure are normal and you would encounter that a lot especially when you are just starting out. Accept the fact that there are bad days and there are good days. It's not the end of the world when you lose money. Take it as a challenge for you to perform better for future trades. You can lose now but you can certainly recover that at some point. It's not "Game Over" when you lose some money from trading. Your life will go on and you will have better trading opportunities in the future.

One thing, don't cry about your losses. Don't even think about it. It's okay to be frustrated at first but know that you have to move on.

He can also be too dumb to know about the scams that are going on in the Internet. People were skeptical about bitcoin at first because they don't know the mechanics and how advanced it is from the monetary system that we currently have. He can also just be lucky enough to find an article or advertisement for bitcoin. Not much have their own computer and Internet connection back at 2009. His intelligence is completely irrelevant on how he was able to invest that early. Like me, I wouldn't say I'm "dumb" but I only invested my time and money on bitcoin 2 years ago.

That seems like pure wishful thinking to me. "I'm saving 0.02BTC, therefore I'm saving $2000." You don't live in the future. Earning 0.02BTC right now would just be 400$. You can't argue with exchanges and sell your 0.02BTC for $2,000 because you strongly believe that the price of bitcoin will be $100,000 in the future. It's a long long way before we can ever reach 100,000$ per coin. We have to 50x from the current price. I think with the 100,000$ price, mass adoption has already happened and merchants are already accepting bitcoins. We are sooooo far from that.

Agreed. They have their own life, and you have your own. You should start keeping yourself busy on making your life a better one. Life is too short. After watching this video[1], I started to re-evaluate my life and I start thinking twice before doing anything about something. We're too busy pre-occupying ourselves with trivial stuffs that we forget to actually live a life. We all watch youtube videos and/or TV shows for our spare time, but we don't even enjoy those. We won't even remember those after a couple of months.

Persuading others to like bitcoin will just devaluate our time and that's something that you really don't want to happen when you realize how little time we actually have. Yes, we have a long time to truly be free but we're busy with school, our job, etc. You don't want to add "convincing people to like bitcoin" to your list.

[1] https://www.youtube.com/watch?v=9mSpwYQMwvE

I think most people here have an actual job in real life. Those who currently don't probably just quit his old job and started doing tasks in exchange of bitcoins. He is employed before, got unemployed, then employed again. I think that didn't reduce unemployment at all. If anything, bitcoin reduces the people that are employed. People become self-employed after having enough money from bitcoin and start their own business. There are also other people that make decent money from trading, they don't work for a company at all. They are self-employed. Others might even consider them as unemployed but they surely are having salary.

I'm starting to become hesitant of the budgeting that I do. I usually spend no more than 5% of my total money and I already consider that as a major spend. Buying a house would mean that I have to spend all of my coins and obviously I'm not going to do that. With my case, bitcoins would have to multiply by 10x before it can become just 10% of my total stash. It's a really really long way to go but looking at other people's life, it also took them a really long time to buy a house so there's nothing wrong with waiting and just keep on renting at the moment.

You're a senior member, you should at least know how to use Google by now. You can earn money from Steemit by posting original articles. A lot of people are claiming that they have made good profits from steemit although I'm still doubtful about it. I haven't tried it myself but there's no investment at all. It's not cloud mining or MLM program but rather a website where you create articles, people view them, and then you earn money as the traffic goes up.

Sooner or later, that will start to become unprofitable because more and more people are already doing Steemit.

How vulnerable are we to double spending, though? Someone who's sending 100$ wouldn't make an effort to buy a decent mining rig just to be able to double spend that amount of money. Regular users can't do double spending. Some might not even know about it, so you don't really have to worry about it.

Or did you mean something else about zero confirmation like real-time confirmation? That will only be achieved with a lightning network. But that's not available right now and we don't even know if that will ever be available in the future. It might be just a concept made up by people but we don't have the technology to do it.

It's actually totally possible. Simply do margin trading and the game is on. Trading quickly becomes like gambling. There's actually a young millionaire that's making hundreds of thousands from trading just an hour per day. It's not that he's clairvoyant or something. His technique is to trade and once you've made money, turn off the computer and that's all for today. You don't have to be greedy. If you continue trading, you will lose money.

Watch "rich kids go shopping" on youtube and you will find him in the middle of the video. He's already a millionaire, though, so he makes this much. I think you can also make that much but only after years of trading. He's so knowledgeable about trading that even with small movements of the market, he can make a lot. You can do it with margin trading.

Then how come you were able to reply? In the first line, he said that bitcoin is widely used on the Internet. This means that people buy/sell bitcoins and use bitcoin as payment only in forums, exchanges, etc. All of these are just happening in your web browser. In due time, bitcoin will also be used in stores and accepted by merchants. What he basically meant was that there will be some physical shop to accept bitcoins and not just something that you click on your computer.

At the end of the day, these stores still need the Internet to operate. They need the Internet to confirm that you actually sent them some money.

It actually doesn't matter that much that bitcoin isn't widely accepted because we have a exchanges. When you're going to buy something, simply use an exchange so your money can be then withdrawn via ATMs. After all, once bitcoin is widely accepted, the prices would still be based in fiat. It's basically the same thing. You're just indirectly spending your bitcoins as of now.

Someone can be "insecure" about the fame and wealth of bitcoin but they can't do anything about it. Bitcoin isn't some entity like the famous people out there. For an instance, you got insecure or jealous of your friend because she is famous and wealthy. Then you can defame her by spreading humors and whatnot and that would directly affect her. In bitcoin, all these FUDs are common and irrelevant. People only base things on facts.

PS: If bitcoin has a flaw that can lead for it being destroyed, altcoin devotees should have found it by now and spread it non-stop.

That's wayyyy more effort to just open up a regular shop. Are you sure that your shop will come booming simply because you're the only one accepting bitcoins? That's just a different currency, AFAIK it's the product that people are after. With your logic, if I start accepting dollars in my shop, people will start falling in line just to buy something from me. This even saves me the time of explaining to them about the currency since everyone knows about dollars.

Your idea is absurd. Encouraging people alone to use bitcoins is a lot of effort. You're not even sure if these same people would buy products from you and be a loyal customer. Let's say that your store becomes popular somehow because you accept bitcoins. It's only a matter of time until the neighboring stores start accepting bitcoins.

Unless mass adoption has happened and people are fighting over to buy as much bitcoins as they can just like a Black Friday sale scenario, then that's not going to happen. I think your argument is based on what has happened in the past. The price used to be 200$+ and now the price is 2000$+. That's 10x, yes. But as the price increase, the 10x multiplier becomes harder and harder to achieve.

When the price was just 2$ each, just an increase of 18$ in price, you'll get 20$ and that's 10x of the previous price. With 20$, 200$ is 10x and that's just 180$ difference. But with the current price, the 2600$, the price have to be 26000$ and that's a difference of 23400$. That's a lot more than what has happened in the past (200$ becoming 2000$).

So, like, 100% of your money is out there? My technique is actually just like a gambling technique. Don't invest what you can't afford to lose. I know it's basic, but it's useful. My maximum investment would be 5% of my funds. Most of the time it's even hard to let out 1% of it. That's huge money to me already.


The approach for major coins is different. Since they are a major coin, they will go back to their previous price in no time. Buy in a dip, and wait for the price to go back to what it was for a long time. Then sell. In every dip of these coins, you can make money. They go back pretty quickly. The technique is called scalping. You have to invest a huge amount but the profit isn't that much. It's okay, though, because it's just short trade and there's a lot more chance to earn money compared to buying shit coins then hoping for them to rise one day.

[1] Education isn't always the key to everything. They simply have to be aware of what they are doing. These people have survived the past without a good education, so how come they have to change that in order to learn how to use bitcoin? They still have common sense even if they mal-educated or uneducated. Somewhere in the sea of that uneducated people is a guy that knows techy stuffs. The people will ask him about it.

[2] Read digital divide. It will forever (or at least a very long time) be the case. There will always be people that don't have an Internet connection in their place but that doesn't concern us at all because they can't affect us.