Bitcoin is a promising digital currency, it can be used for worldwide payments in online businesses. and because it is on p2p technonology, it is decentralized. You can purchase goods across borders with little or no transaction fees. There is an increasing business transactions that uses bitcoins as their payments. Bitcoins despite of its limitations, some disadvantages, and volatility has a big potential for the future.
yes that is right to say, in fact bitcoin has been created for the purpose to facilitate people online, who are running their online business or those people who are interested in online shopping, i think bitcoin is the best option for them as they do not need to convert their currency to fiat, as bicoin as the same value in all over the world. |
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i would say that India will suffer for this for many years to come. you cant just scrap a percentage of your money and no expect consequences.
yes i am also agree with you, i think that they have not take the right decision, they must suffer for it for years, it will effect their economy as india is already passing from financial crises as most of the people have no shelter they are sleeping on footpath. |
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Buying it using credit card is not a good idea. There is even the possibility of hidden fees on some websites.
I think if you are patient and buy using fiat, you will have a better return on your investment.
Buying with credit card is not a good option as you also need to disclose your identity and give all your personal information, for me the best way is to buy in cash on localbitcoins where I simply deposit cash into traders bank account and upon receipt he transfer bitcoins to my bitcoin wallet address. No problem with that if you really need bitcoin, you can disclose your identity if you are not doing anything illegal. Besides bitcoin is just a currency and it's not illegal to use it, you have to get your goal regardless of your purpose why you are buying bitcoin. yes that is not necessary to become hidden while purchasing bitcoin or using it, it is a fact that if you are not involve in some illegals activities there no need to worry if your name or identity is disclose to some one, |
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The principle is not all eggs in one basket.
An offline wallet; paper based or HD wallet for savings. This is not for everyday usage.
A PC wallet if our job demands the daily transactions with our clients
A web wallet for small expenses. Sometimes this is pairing with smartphone.
yes that is right to say i am agree with you that is too much dangerous and risky if you are going to put all your bitcoin in one wallet you should use multiple wallets to distribute your bitcoin in it, through this way you can minimize the risk of your whole bitcoins from hacking. |
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if you could take advantage of the situations down trend or up trend i'm sure you could got profit from that and this situations is common happening on every currency even dollar also have it so it is normally and as basic law trading says that buy when the price down and sell when the price rise up
but i think it is really very difficult job to understand the ups and down trend of the bitcoin, as no one know in advance that when the price of bitcoin is going to up or when then price of bitcoin can fell down so as to sell bitcoin before the downfall started. |
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Diversify your methods of earning BTC, in order to increase your amount of Bitcoins. If you still trying just one method it will not work for you on the long run. Try trading, selling skills and goods..
yes it depend on your interest and experience, if you have some good experience in trading then you can increase your bitcoin from trading, if you are a good gambler then you also increase the number of your bitcoin in gambling. |
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You can start with the amount of 0.01 btc if you're a complete newbie, Better trade with the amount that you can afford to lose.
To avoid losing the 0.01 btc. It is important to study about trading first but after all practical knowledge is the best so try and try.
This is exactly a newcomer to be alert to the possibility that he might lose these savings. But he will get experience. Although negative, but an experience. And if a newbie does not want to spend 0.01 BTC for trading, he can lower it down to 0.001 to 0.0005 BTC just to have a first hand experience on trading. With this amount he can buy some cheap coins, those ltc market or dogecoins market. At least even if he lost this amount, it won't affect him that much. It will be better if a newbie will only start with the amount of 0.001 BTC and that will be a great start even he doesn't have knowledge. And that amount is affordable to lose for a starter in trading. But you should buy the cheaper coins but has the chance to pump in the future because a lot of nonsense coins are coming out. i think it depend on the experience and skill of trading if the newbie has a good experience of trading and having good skill then he can really invest good amount of bitcoin in trading and can really make good profit from it. yes that is a fact to me there is not a fixed limit for starting a business, in bitcoin you can start business from any amount of bitcoin, no matter how small is it, but still you can get an opportunity to start a business with. |
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I would stay away form new altcoins as they might be scam, i would trade bitcoins/fiat
Same here,i prefer more to trade on Bitcoin and Dollar rather than trading with alt coin because we have so many cases of dumping.But if we already know the detail and the alt coin really have potential,why not.But i am not into long term for alt coin because i am still not have more info about this. It is your own preference but I prefer more to deal with altcoins and bitcoin because it is faster maybe. And I believe that if I start trading in dollar or any other fiat to bitcoin and vise versa they would ask me for ID. yes i am also agree with you, as 20 bitcoins is such a good amount of money to be invested in different places i will equally distribute the amount in different places and will also reserve some for gambling as i am also found of gambling. |
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There are many people who lost their money on trading, because trading is unpredictable job, in my opinion i need:
Method ( i must have system trading)
Money ( i must have management of money and risk)
Mind ( i must can control my emotion)
Tell me your opinions?
Most said here that trading is the option for us to earn bitcoin a lot. And that is totally true which is proven and tested to anyone who tried to do it actually, including myself of course. You need to be patience and create your own tactics in trading just be observant to all player out there in the exchange. It is true, trading need patience, and also it is time taking work, I mean we should spend a time a lot in it, Sometime, i think that only hold the bitcoin is much better than trading and also investment. That's why if we say trading is unpredictable job, so that is true and also it is risky, Many time we don't know that in the coming time we get lose, because suddenly coins price could be changed. yes i also agree with you that trading really need patient and full attention with good good study about the product and only then you can make profit form gambling, otherwise trading is too much risky. |
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Actually it is very risky to hold bitcoin for a long time. Why? Because we don't know when the price would goes up or when the price will go down. If you hold your bitcoin and the price of it will fall at bottom well that's very bad, because maybe you will lose it in the future. So better to used it as investments to have more profits and you don't also become worry when the time that bitcoin would fall.
In every type of investments all of them are risky. And even though holding is just a simple type of investment but this is not an easy way to get good money. Because this can be a one time profit depending on how long you are going to hold bitcoin. But this type of investment has been proved to be one of the best investment. yes there is no doubt about this that all kind of investment are risky but to me long term investment is less risky as compare to short term investment, and is also more profitable, but if you are going for long term investment then you have to invest a good amount of bitcoin as you have to wait for a long time therefor it is good to invest some good amount so a as to get a good profit in return. |
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I have never converted any of my coins to fiat currency. But I have used them for other purposes, such as mobile recharges, and to replenish my digital wallets (PayTM and Mobikwik).
i think you never feel the need of bitcoin to exchange it into local currency, for me i am regularly exchanging bitcoin into fiat currency whenever i feel the need of fiat. as for daily need i use bitcoin to complete these need and mostly save may day income. |
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Not really, I use bitcoin to earn extra money for some gaming needs. But in India, my country, bitcoin isn't even known and shops just dont accept bitcoins. My rotten luck. Otherwise, I sure as hell would have used Bitcoins in my daily life.
to me as i have invest good amount of fiat in bitcoin and therefore i am making good mone from bitcoin, which i consider as my extra income and it really help me in controlling my expenses, therefore i can say that bitcoin is helpful in my life. in daily needs. |
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I dont think there is a tax on bitcoin in the Uk but in the future there my be some sort of it..
I think yes, although it will need long time until there are tax on bitcoin at least right now we get charge/fees on markets while we want buy bitcoins on there, although we don't know the markets pay tax or not, but actually depend on the rules of countries them selves on usage of bitcoins. but i do not think that there is any tax on bitcoin, i think still bitcoin is tax free and the main reason can be that bitcoin is still an illegal currency and yet not a single country has accepted bitcoin as legal currency, therefore they have not yet put any tax on bitcoin. |
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I would prefer for mass adoption because when there will be too many users then it would become the father of cryptocurrency and it will have maximum market capitalization, fortunately bitcoin has maximum market capitalization. So i prefer mass adoption.
yes that is a fact that if the number of bitcoin users will increase bitcoin will become more and more strong and so people will put their confidence on bitcoin, therefore me mass adoption is too much important as compare to price increase. |
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Transactions fees can be minimised by sending less bitcoin not necessarily be true. I think with time transaction fees would reach sky high. At a time when miners will have very less profit then definitely they would rise three transaction fees even more
Yeah it looks like soon we might be paying 1$ fees for a 10$ transaction, hehe but that been said I think the only way this can be solved is by introducing some miners. Maybe some huge mining farms can be opened which runs just at low profits and hence problem is solved. as the exchange have their own monaply to impose transaction rate according to their own wishes i think there should be a proper mechanism for imposing transaction rate, as it is really effecting the image of bitcoin also, |
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I only use the blockchain.info wallet, as its a great and secure wallet. I also have the official app on my Android for checking my balance sometimes. I sue it mainly because its accessibility and I can access it anywhere with a secure computer and internet connection. Its also great that a email verification is required to login to the wallet. This prevents unauthorised access.
people are using different wallet for different purposes, as some time it become the demand of a signature campaign to have account in particular exchange so that you can get the particular coin through that account. some time people also use different wallets for security season, they divide their bitcoins in different wallets so that if one wallet is being hacked the other should remain safe. |
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i heard many Cryptocurrency but why people mostly use bitcoin?
Because other crypto currencies are just good or available for trading but nothing else, while bitcoin has a wide range of acceptance online and offline too, why would someone use a currency or a digital currency that is not accepted anywhere? That is why people use bitcoin more as it is accepted or usable in more places. to me most most of the people are comparing bitcoin with USD and the reason is that USD is one of the most popular fiat currency of the world and almost all the people of the world know about it and its price any time. some people also compare it with their own currency as to know the actual amount that you have in form of bitcoin. |
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Bitcoin has a big community around it and big investment, soo its almost impossible to say those big investors as the community to dont care anymore of bitcoin, till the moment there is no way that bitcoin will die tomorrow.
No one is perfect in this world, no one dare guarantee bitcoin will forever, the better way is we must realistic that and think that there will be a better system of bitcoin. We should just say what we see, for sure no one or nothing can stay forever but looking at the facts we can predict for it to be better in coming time, we can see a large community involved in bitcoin these days which is the reason why bitcoin wont die so soon. Well, looking at bitcoin potential and strong foundation, big forum, so many people support and believe in bitcoin so hard to say it will die in the future instead of getting bigger and stronger in the economy market. you're right, it's been a lot of support for bitcoin in circulation, so it is very difficult to make bitcoin disappear or die. Well, actually if bitcoin die, maybe it will affect the world economic system because so many people are investing their money in the form of bitcoin, so it was definitely a lot to make people menjiad angry and are not excited yes that is a fact that bitcoin is becoming more and more stable from its previous position as people are continuously entering in the world of bitcoin and making bitcoin more and more stronger therefor bitcoin cannot turn as dead over night. |
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Yes bitcoin is used all over the world but only a few thousand in every country if bitcoin wants to become a global currency i think is should be used by 1/4 or half the human population.
yes that is a fact that bitcoin is almost using all the countries of the world therefore to me bitcoin is alread a global currency. more and more people of the world are entering in the filed of bitcoin and making bitcoin becoming more and more stringle yes that is a fact that bitcoin is almost using in all over the world, but the number of bitcoin users is still very low, as most of the people still do not know about bitcoin. bitcoin still need good advertisement so that people may know about bitcoin. |
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I'm also thinking of it that the bitcoin price might go up to $1000 this year or early next year. And this would a good news for us in bitcoin community so we can invest more using our bitcoins.
Early next year I think is good start for bitcoin. I am also predicting that it will touch $1000 next year since there are many good news and company launching their services using bitcoin. Let us just hope that it will happen. to me i think bitcoin is going to touch 1000 USD at the end of this year, and hope that in next year bitcoin will continue to maintain its position and may be cross all time high level very easy. that is a fact that different companies have started their services using bitcoins. |
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