For me the biggest change that Bitcoin and cryptocurrencies brought to my life is that I started to get interested in economics and finance. I have learned a lot about those topics since I started with Bitcoin and am really thankful for that. I got the impression that I lived in a bubble for long time and with cryptocurrencies it kind of popped and exposed me to how our world works. Its actually a scaring experience, but its better to know these things than to live your life with the believe that our financial system is fair.
Having to know more about bitcoin, you would have to take into consideration some principles of economics and finance, one that I don't take into consideration before, and look into the international context. It really was an eye opener experience since you start noticing things that you don't even think about before. It has also made me more conscious of my spending habits and expenses. |
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Hey guys. Finally decided to get me some coins. I have about 10k to spare. any recommendations?
If you mean you have $10,000 then that's wonderful. You still have a chance to earn big on that investment. Imagine in 2018 BTC will reach $20,000 - $50,000. You will multiply you money more. So I will just say good luck to you. But you a lot of choices to invest on your money. Just learn and study more about crypto. Yes, it's true that you still have a big chance to earn by investing because a lot expect 2018 to be profitable. The recent attention given over bitcoin all throughout social media has made a good impact, and would contribute towards better growth this incoming year. It would also be good to check out other tokens and coins that are worth investing in out there. Just make sure that you research on it first so that you may choose which one would be best investing on. There are a lot, and others may be a hit or a miss. |
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At last, the correction everyone was waiting for. The massive surge in the price of last week is finally having a pullback, everyday we saw almost a 1k increase in the price, there some attemps of correction but they were just small $500-$400 dips that lasted a couple of hours before a new price increase.
This is actually a correction and I wouldn't be surprised if keeps going down. I believe panic sell is going to hit hard in the next few hours as many people and newcomers just got into bitcoin in the last couple of weeks, when the price was off the charts.
Everyone should take this opportunity to buy cheap btc, if not, you're going to regret it.
A lot have been expecting there to be a correction these past few price rises, and it's quite possible for the price to be low for quite some time. This correction should be healthy but it can't be avoided for there to be some panic sellers especially since there are a lot of new investors. A lot will sell with the fear that the price will just keep going down. In the meantime, this is a great chance for others to buy. |
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More and more people flocking to get their share = more growth than what we expect. Seriously, I haven't had high hopes for bitcoin to run past $1000 on 2017 and I've never been so wrong in my life. No news, no main driving force for the price to leap and no good developments then suddenly it blew up! 2018 would be one of the most bullish years for bitcoin and hopefully it run past through $20000 as everyone wants it to be.
I have the same thoughts. I never thought that bitcoin would have this kind of impact for the year 2017. The year started with only a few people knowing about bitcoin and right now, it's been blowing up the internet. I've never seen so many ads and articles about it. Also, it's been frequently in the news lately. This greatly contributed to the price increase which I never expected months before. What 2018 has in store would depend on the reaction and response of the public. The price may finally become stable or continue to rise if there is more positivity for bitcoin this upcoming year. |
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I've been hearing remarks like those numerous times in the past - that's it's a scam, it's fraudulent, it's fake or it doesn't exist. Some have associated bitcoin to illegal activities such as the purchase of drugs and the like. When something is foreign or unfamiliar to them, they'd rather hate on it than choose to understand it. They are quick to judge without even trying to fully understand all about bitcoin. Others are just bitter because they weren't able to join the party early enough.
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would you try this technique.
Nah, too much risk. What if the price went the other direction? You'd be out in the street? Is that worth taking a flyer on Bitcoin? Not for me. A safer play is betting a healthy portion of your wealth, but making sure you've got an out, enough stash left over to make another play if the first one falls apart on you. Risking your own home or property is too much, even if there was the chance of earning huge profits. Having a house, or property as an asset is important and I wouldn't want to go homeless or bankrupt just for profit - no matter how big it may be. Some don't even have houses for themselves and it would just be plain greedy to go through such extent just for money. If I had extra money, then I'd take the risk even just for the heck of it. I wouldn't risk something that I couldn't afford to lose. |
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That's great OP. I also started with zero investments however I'm nowhere near your progress or 1 BTC. You have inspired me to trade as well, and may this inspire others who are scared of trying out to trade. I initially always think that you would need a huge amount of capital or investment for you to profit handsomely in trading but with your story, anything really is possible. Your hard work from scraping off funds will surely pay off in the future.
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Do you know how crazy it is to say that bitcoin is going to be worth $6,7 million dollars? It is insane, and that is a lot of money. Those who are holding more than 100 bitcoins would have money that they are not even going to be able to count it.
It is not going to reach that price, of course, the whole blockchain and the bitcoin ecosystem is not ready to reach that price, because the system is full of kids and crazy people trying to be millionaires just by investing a few dollars that they daddy's gave to them.
Even $50k is a huge amount of money, but that is a realistic price, not an imaginary price like six millions.
I could believe in $50K while $6,7M is just way too big. Just imagine the profits of those early adopters who up to this day, still have some coins in their arsenal. At this price, they have already profited millions while at that kind of price, they'll get crazy rich. If ever the price were to really rich that amount, I'd say it would probably take a decade. It would be too hard for a man to attain 1 BTC at that amount and it's going to be messy and chaotic just thinking about it. |
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We won't know for sure until the next wave of info from the next exchange is asked for, but it's definitely an alarming precedent. We can't really keep anything private anymore, which is ironic given that privacy is what cryptocurrencies were named after. Still, it's not the end of the world. We simply have to keep in mind that we have a transaction limit in exchanges, and that coins shouldn't be stored in them (which everyone should already be doing in the first place). People should still be able to freely trade amongst themselves in private.
That being said, this was prompted by people not paying their taxes. It's your obligation as a citizen who is enjoying the state's services and protection, so just pay the proper amount.
Other than wanting to chase those who have been hiding from paying their taxes, they probably wanted to aavoid money laundering. They must have imposed this policy in order to avoid and prevent illegal activities made or done. We can't avoid having the government getting involved in this, especially since it deals with huge amounts of money. Having to do with millions of dollars send red flags and alarms the US government. Nothing is ever private in this world that we live in. |
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This kind of reward and incentive system is being done sometimes in big companies in order to motivate their employees and it actually works sometimes. Some use the opposite principal and impose a punishment or sometimes both. If the gum keeps you going and it works, then I advice you to keep doing it. It may be a small thing but if its effective, then I don't see any harm in having that kind of system. It may seem childish, sort of like how when you give candy or star to a child whenever they do good but this actually works and leads to productivity.
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I really think this is gonna happen in the future because many merchant right now are really getting interested in holding bitcoin right now, and I have realized recently that there are now many in my country that are now accepting bitcoin, And I really think that even if bitcoin doesn't have a huge amount yet back then many had seen the potential of bitcoin to be use in a direct transaction.
If this is really happening then it is a great thing of course. This is a very high advance because in the end bitcoin can be used for everyday transactions. We must appreciate and continue to support places that can accept bitcoin. If that fast food chain accept bitcoin, how about their competitors like Jollibee, KFC, Greenwich, Chowking and other food chain? Are they also accept bitcoin in exchange of foods and services? Or they still relied to the Fiat? Because competition in the world market still ongoing so I don't that only McDonald's is used bitcoin. In addition, if the fast food chain accept bitcoin I'm sure that more people will request to less their price the food and services. Since bitcoin is not covered by the government, I'm sure that no Value Added Tax (VAT) will reflect to the receipt of each fast food chain. Because all their income using bitcoin had no tax. I don't think that would be the case. Value added tax (VAT) is a form of sales tax, so whether or not your income (in bitcoin) had tax imposed on it or not. You would have to pay for it because its a tax on your consumption of sale of goods or services. In other words, the tax is indirect which may be transferred from seller to buyer. Honestly, I think that it would be too complicated if Mcdo were to accept bitcoin as a form of payment. It's going to be problematic and I don't even imagine it to be able to accept a foreign currency. From transaction fees to taxes, there are too many issues on the matter. |
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This is a legal issue no one has been able to answer me about
If you win bitcoin with investment, it's easy to declare
What about bitcoins you earn from jobs ( bounties, regular incomes for helping teams in moderation, etc.) ? It is a job and an income but in bitcoin, so how is it considered and declared?
I think its just the same since you did still able to get those coins or bitcoin earnings from a job which you can still declare and I cant see that there would be a problem on that. Want to know if your government is already requiring you to have such declarations? That's too strict though. For now in my state here in my country I don't have much problem regarding on that even though it is already involving huge money but yet taxation on bitcoin earnings isn't still being imposed. It's the same in my country. Taxation on bitcoin earnings aren't imposed yet although bitcoin is considered legal. There has not been any legislation or specifications made regarding bitcoin income that has been declared by my country. Perhaps as of now, there are no declarations yet. I guess that a problem arises once you exchange you bitcoin to the local currency - there may be the need of taxes for that. Especially if it's a huge amount, you would probably have to declare it as an income. |
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Definitely it's bad and impractical to use Bitcoin for shopping these days. The fee is killing us. $10-$13 still huge for the fee. Also still Bitcoin is not widely accepted on many stores worldwide. Like in my country (Philippines), it's very rare to see any store that directly accepts Bitcoin as a mode of payment for their goods you buy to them. The only thing you can do is convert Bitcoin to fiat. I think it's more convenient since cash is widely accepted and most of all, no fees to pay. Anyway, i will not use my Bitcoin unless it's very important. Bitcoin price is skyrocketing right now.
I think that it is also impractical to use in bitcoin not just because of the high fees but also because of its volatility. Bitcoin is so volatile that anytime of the day, month or year, its price would be skyrocketing or crashing. But for this year its price had a big growth and because of it many people became interested with bitcoin. There will be more people investing in bitcoin and using it for shopping will a great loss for better opportunity. Just cashing out or exchanging my bitcoin to local currency is already a hassle because of the high transaction fees so I don't foresee the use of bitcoin for shopping as applicable for now. Currently, there are not much retail stores in my country which accept bitcoin and asides from that, it's not yet that well known or mainstream. As of now, people prefer to treat bitcoin as an investment rather than as a mode of payment because of the lack of availability. |
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Bitcoin bubble is not gonna reach any soon. People think that 10000$ OR 12000$ is the current highest peak of Bitcoin and they also believe that Bitcoin is not profitable anymore. However, in real is just the 2nd phase after the beginning of the the Bitcoin. The Bitcoin bubble will reach when one Bitcoin will worth as much as 1 or 2 million USD. Those who are selling their Bitcoins for just some profits are really not believers of Bitcoin. Bitcoin will reach the mars one day and after that it will reach extraterrestrial planets. Long live Bitcoin.
I believe that's one of the causes of the price to go down once it reached $10K - a lot of people wanted to profit and solid their bitcoins at that price. Some felt satisfied with that value because they believe that bitcoin has reached the peak or ultimate high. Others prefer to have short term profits with bitcoin instead of investing in long term. As to when or what amount the price would really reach its peak is really hard to tell, you may never now when the bubble would pop. Perhaps bitcoin still has a long way to go before it crashes, or maybe it can happen any day from now? |
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Few hours ago, bitcoin value goes down just like lower than $10k, then at this moment it goes up again and back to $10k more. It is not kinda surprising if it hits another height of price, because it has already reached, it just goes up and down. Also, it is just a prove that demands of bitcoin increases also as the value of bitcoin do the same.
It's normal for the price to be like this - going up and down constantly. Once the price hits a new height like $10K, it is but expected for the price to go down again. The price trend has been sort of like a roller coaster, except that its upwards trending. Meaning, even though it's been going up and down, the price still continues to go up in the long run, judging from the charts. Just because the price went down right after it reached $10K, it doesn't mean that the bubble has popped. It would take more than that for a crash to happen. |
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with the bitcoin price now is too expensive, I think you don't have to try to win back your loss because you don't have big chance to win again. if you are wise, you will do another way to win your money back and not to continue playing gambling. yes, I know that sometimes you can win your money but it is still difficult to win back your loss. so maybe you can think twice before you do it again.
Why would it matter what price bitcoin has to $ if you've always been betting with BTC? If you've gambled 0.01 BTC you have gambled 0.01 BTC and not the $ amount at the time of the gamble.. no? Although I can understand and agree that starting over rather than chasing losses it is what it is  . Lol yeah that's right btc gamblers seldom consider the fiat convertion when they play. You bet with btc, you earn btc, you lose btc. You think about the equivalent in fiat after you gamble. And chasing losses would likely end up with losses chasing you so don't even think about it if i were you "losses chasing you" would be the perfect phrase. Once you try to chase your losses, there's a chance that it's just going to be an endless cycle and it'll just end up messy. There may be no end to it once you start with it. This may make you even addicted or obsessed over winning back and worse, get into debt. Gambling is not meant for this, and the likeliness for you to win it back is very slim. The fiat equivalent doesn't really matter, it's going to be a headache if you were to convert what you lost in fiat with the value of btc, and this may make you even feel more bad. Just consider the amount of btc as is when playing. |
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Bitcoin might drastically go down deep following the sudden surge in price. If am wrong you can correct my impression thank you.
Nope it won't happen like that. Let me add that this corrections thing will not affect the bitcoin with very much drastic change. It might just make it drop from to 8-9K USD but not below that. Have you seen the market capitalism that bitcoin has achieved up until now? Its more than 250B USD and its enough for it to keep up that much rates. What will affect it, if it wanted to drop way below then it would be its sudden "investors pulling out" of it. But you ask yourself who would do that, who will ever do that with bitcoin? I mean its for sure not me or you who are the best believer of the bitcoin. This and many more factors are there which keep up the bitcoin prices all time high. They are literally pushing it further and as speculated by many other people around the community they think its going to be 15K soon and who knows might just 20K next year end. What we have to do is just to keep up the pace of investing strong and unidirectional. :-) Once the investors instigate fear and lose their faith in bitcoin, this would spell doom once they start to panic sell. As investors and bitcoin users, we should continue to support bitcoin instead of worry about the dips. It's but normal to experience a price dip or correction especially when the price has gone so high but we must keep the faith that our investments will become fruitful in the future. There are many other factors that would cause a crash, and the continuous rise of the price won't be one of it. |
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Just recently, a news article in my country was released saying that bitcoin is dangerous and the author has warned not to invest in it. It was said to be unsafe and lacked security. Once you lose your money in bitcoin, there are no safeguards present to protect you unlike with other investments. Technically, bitcoin is legal in our country. There has been no ban or prohibitions made on bitcoin, not even any restrictions. The only action done by the government were to issue warnings for the public to be wary and cautious.
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OBVIOUSLY, IT SHOULD BE CLEAR AS DAY THAT BTC HAS LEGS .. ANYONE THINK IT CAN REALISTICALLY HIT THE 50K MARK WITHIN A YEAR? OR IS THIS A BUBBLE READY TO BURST? WHERE DO YOU SEE IT SITTING SUMMER OF 2018?
SPEAK ON IT
I remembered few months ago people are just asking if bitcoin would hit $8000 to $10,000 before the year ends, that was when the price was around $5,000 per coin and now that it hit the $10,000 people are now asking if bitcoin can hit $50,000 in less than 6 months. I appreciate the enthusiasm of people about the price of the coin but we need to be realistic. Once bitcoin doubled it's price from today other people will think that it is a bubble because of it's rapid increase on prices. We must consider factors that some people are just waiting for a specific price and will eventually dump their coins usually intervals of $5K and $10K to $50K will pass through it a lot. During these intervals bitcoin's price will take some times before the price stabilize, like what happened when it hit the $10k level in fact until now price is still trying to stabilize. So i don't think $50k by summer of 2018 is feasible. I don't think that 50k by next summer is very valid either. I have a feeling that we'll be able to hit 20k max if we go with the best scenario for btc (everything goes smoothly, more companies want to support it, etc.). However, it's much more likely that we won't be able to achieve that perfect set. We'll probably run into issues here and there so maybe 15k by summer would make more sense... I agree. But in crypto space, everything is possible especially when the whales try to manipulate the market. Sometimes it's scary if the price is going up rapidly and that means it can go down easily. But more than likely, it will be more than $10k by this summer 2018. At this point, anything is really possible for the bitcoin price but I would have to agree that hitting $50K in less than 6 months is too unrealistic. Seeing how far the price has gone has been unbelievable, even just a few months ago I wouldn't expect this kind of turn out. After experiencing this kind of price trend, there should be some price corrections done, so I expect there to be some dips this 2018. It's going to be hard for traders to buy and sell if the price continues to go up without ever going down. |
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