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Yes, it is true and I am moving towards that direction only. Even though I didn't have a luck to buy bitcoins at 12 USD price. BUt when I started earning bitcoin, the price was standing at 450 USD. Later I got engaged in trading activity which helped me to multiply my bitcoins. I am currently accumulating more and more bitcoins.
I have a plan to buy something really costly and which I can't afford from my salary. So I am planning to hold my bitcoin for another 5 years and then probably I will sell a major part of it to make my dreams come true.
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That's a good news for the bitcoin community that Indians are showing more and more interest in bitcoin. It will certainly increase the market cap of bitcoin which will increase the price of bitcoin. So it is a win win situation for all. However, I'm not sure about Zebpay's service and related fees.
I have used localbitcoin website for a few time and I am very happy with them. The rates are good and also the built in escrow feature make it attractive to the bitcoin community.
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
I really hope this man lives a long and healthy life and away from everyone's eye. If his identity comes in reality, all the enforcement agencies will try to get hold of him and he will stay behind bars for no reason. However, to answer your question, there will be no impact in bitcoin price or technology. It will remain same. However, few people will feel sad that the best innovator of our times has died but market will show no impact for sure. Bitcoin community is 43 billion strong and it's not easy to shake. |
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Similar things I have also noticed from poloniex. Since last 2-3 weeks, I have been receiving notification that my account has been accessed. But the fact is that I haven't actually accessed my account since last few months as I don't use that exchange.
The IP address is showing as 116.126.166.202 which belongs to Korea. I have now changed my password but I thing someone have got the access to my account. This is really wired and I am now changing all my passwords.
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That's really a good news for the crypto users as mainstream users are getting interested about bitcoin and investing money in to it. IT will help the network to slowly move to the mainstream business. However, the legal status of bitcoin is still not clear to many countries. I hope such investment news from mainstream names will help bitcoin to pave its way. |
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Interestion your point
I don't see it as a limitation rather I see it as an opportunity for the future. Bitcoin supply is limited and that's what will make it special after 2023. Very limited people will have access to a good amount of bitcoin and they will become elite rich after that time. We all are trying to fit into that bill. If bitcoin increases the supply, as per the normal demand-supply rule, the price of bitcoin will come down. Similar to the bonus-share issue of the real world stock market. But if the supply remains limited and the demand stays robust, the price will appreciate to an unknown level. I believe all investors like me, are waiting for their goal price. Limitation in supply can make it happen. |
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Probably you are right for the short term traders who sit in front of the computer whole day and track the market diligently. But not true for the part-time traders and long-term investors. I am an investor to the bitcoin and I get only weekends to trade. So I make some quick bucks during weekends by trading with altcoins. But I am also a long-term accumulator and investor of bitcoin. I prefer to buy bitcoins from various exchanges with my signature campaign and trading profits. I started this practice since the price of bitcoin was at 450 USD and you can easily understand that how much profit I am making just by holding the bitcoin. This wouldn't have been possible for me if I was investing in litecoin since that time. |
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Hello,
I just want to know why Bill Gates do not invest some money in Bitcoin, he will be a very big contributor to the crypto world, and will also be very respected, he will also be able to become more rich (or less).
But what is the reason why he do not invest funds in cryptocurrencies?
Why would he? I see no reason for him to come to crypto world and invest money in something whose legal status is still not clear in many countries. It will lead him to controversy. I am sure he doesn't want that. Not just him, but I don't see 99.99% of billionaires is investing in cryptos for obvious reasons, controversy. If the legal status of crypto currency becomes clear with all countries or majority of the first world countries, then probably we will see some ultra rich population to invest in it. But not before that for sure. |
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For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?
You are correct, the current network fees and confirmation time is actually hindering the goal of bitcoin to become an internet currency. People prefer other coins like ETH for the swift turn-around-time. However, bitcoin still remains as an excellent investment currency due to the steady increase in its price. Those who are investing in bitcoin since last one year, they are already sitting on crazy profit and I am sure they are investing more in to it. So it is the best time to take bitcoin as an investment asset and not as a transaction currency. |
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I just wanted to know that,what amount of risk is there in investing in bitcoins.
Right now i am planning to buy btc approx 3-4 btc and just hold them as i guess the price of bitcoin will increase in future and i will get some good profit.But i want to know what is the risk involved.Can bitcoin price decrease and is this right time to buy the bitcoin.
Let me tell you that, there are risks involved with every kind of investment which are market linked. So even if you invest in market linked insurance or mutual fund, there is risk. But bitcoin, being a decentralized currency with no regulator carries a bit more risk than any other regulated investment instrument. But if you look back at the bitcoin historical price, you will see that long – term investment in bitcoin was immensely profitable for all. So if you are planning to hold your bitcoin for long time like 2-3 years, go ahead and buy it. But if you planning for a shorter term, then I would suggest you to use SIP method. This way, you will buy little amounts of bitcoin at a certain pre-decided interval. This way you can average out the price and minimize the risk. |
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Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?
I am sorry to hear about your losses, but I believe you haven't studied the market well before trading. That is the main thing you need to do before you jump in to trading activity. Also patience is another key factor you need to have during trading. Unless and until you are playing with margin money, you should not hurry to predict the market. Always read the charts for at least one month and try to guess the price pattern of any pair, you are planning to trade with. Otherwise, you won't be able to predict the market correctly. The market study will help you to decide at whay price you want to enter and at what price you need to sell. That is very important. |
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With the price of Bitcoin being so volatile should we ever consider buying or even holding if we have bitcoins? What are your thoughts??? What should we do?? As it stands today at this moment, the Bitcoin volatility index reads: 4.57% the latest 30-day volatility estimate 3.54% the latest 60-day volatility estimate The bitcoin volatility index for present day can be seen at: https://btcvol.info/My opinion of bitcoin longterm can be investigated here in this post titled "Hacks & puppets & forks - how to destroy bitcoin": https://bitcointalk.org/index.php?topic=1834310.0If you don't want to hold bitcoin anymore, would you mind sending them all to me? I will take good care of them, I promise. The volatility is what make bitcoin so special to the traders like me, because we earn profits from that volatility. If the price of bitcoin remains stable, it will not make a good trading instrument. I believe, bitcoin has the potential go up in future and that's why I invest in bitcoin for long term. Whatever profit I earn from bitcoin, I keep them in a safe place for the future. However, the volatility is the main thing that keeps my trading alive. |
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Hey everyone, a little help here. Very new to this whole cryptocurrency. So as of right now I just use coinbase as my wallet. Wondering what other wallets are recommended, ease of use and versatile. And if buying ICO's where to store them or best place to keep them. Any info would be appreciated. Thanx.
Welcome to the crypto currency world. I hope you have a good experience with this amazing innovation. Coinbase is a time tested wallet and been around for a long time. So you can trust them with a small amount of holding. However, if you are planning for big amounts, I will suggest you to use hardware wallet. Electrum lite wallet si my recommendation because you don't need to download the whole blockchain to use that. I also use blockchain wallet for storing some funds because I trade heavily during weekends. So for small amounts, use online and for good amount of funds, use hardware wallet. |
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Hey there,
is it possible to buy BTC cheaply at one exchange and sell it more expensive at another one? It seems to me that it might be actually possible.
What are challenges? Are people doing this?
Thank you!
This method is called arbitraging and many people like me, are using this method to get a certain amount of profit. To do this, you need to first scale the markets. You need to scale down to 4-5 exchanges where you can constantly see the price difference. Then you will have to deposit some amounts in bitcoin as well as in USD in all those exchanges. Now, once you have the investment deposited, start scaling for opportunities. Once you see a good price difference, buy and sell simultaneously from both the exchanges. The only matter is that, you need to have a good amount of initial investment to start arbitraging, |
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That's true that the world is run by State-bank alliance because our economy is built that way. That's an age old system and a proven one. However, apart from the reasons you gave here, I will add that bitcoin is an incredible investment asset. I have been investing in bitcoin since little over a year and I am already on a huge profit. I have not invested my bitcoins anywhere, I just hold them.
If I compare gold for the same time, it will not even stand in the same row with bitcoin. Gold is a very conventional investment and it has a very stable price. So one can invest in gold, to protect the capital amount. But if you need profit, there is nothing like bitcoin for sure.
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Honestly I believe bitcoin is better since one you don't use your credit card so you don't loose you needed cash but instead your cash that you could easily earn back from mining. Plus, it's open to all ages unlike credit cards.
Well, this argument is actually depends on various factors. Crypto currencies is better than regular fiat currencies in some way and vise versa. So I can't completely say that either fiat or crypto currency is better. Basically crypto currency has created a parallel economy which is not biased by gender, race, religion or age. It has given financial freedom to many people which our government failed to do. Nowadays, many people are earning their living through the crypto currency. So it has helped the employment scenario as well. On the other hand the acceptability is still an issue to the crypto currencies. Still it is not accepted to many merchants and we resort to the fiat there. But it is true that, crypto currency is always better than having a credit card. At least you don't have to pay a huge interest to them. |
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http://www.cnbc.com/2017/06/14/despite-its-record-setting-surge-this-year-its-still-really-hard-use-bitcoin-as-a-regular-currency.htmlWith all the hysteria around bitcoin surging to records and possibly being the currency of the future, CNBC decided to put it to the test. Can one person live off of bitcoin for a week?
New York City may have thousands of restaurants and bars, but only a handful accept bitcoin. We made a lot of calls and reached out to several vendors to see if they accept the digital currency. We also leveraged "bitcoin maps" online which were not entirely accurate.
However, we did find a few eateries in the city who accept the currency directly - two of which are French restaurants in lower Manhattan – Le Village and La Serine.
Another option was using Gyft.com, a site which allows you to purchase gift cards to Whole Foods, Starbucks, CVS, etc with bitcoin. This ended up being tremendously helpful, but also highlighted the reliance one must have on third parties to get by just on bitcoin.
Another big takeaway? Using bitcoin can be costly. Checking out at vendors that accept bitcoin is relatively easy, but I ended up spending on average 40 percent more versus paying with dollars or credit card because of unfavorable conversion rates and additional transaction fees. For example, my ice cream sandwich at Melt sold for $5, but with bitcoin I ended up spending the equivalent of more than $9. The gift cards also come with additional fees.
Transportation is also a challenge. As a reporter, I am constantly on the go, traveling around the city to meet sources, attend conferences and coming on air from different studios. The subway is typically how I get around town. Unfortunately subways do not accept bitcoin. Same story for yellow taxis.
The third option (besides walking) was ride-sharing apps. I was able to buy an Uber gift card via Gyft.com. I ended up spending more time and money taking this roundabout way, but at least I could travel from downtown to the upper west side without walking.
After a couple days, I started reaching out to folks in the NYC bitcoin community. I found a bitcoin investor online who was wiling to sell me a subway card in exchange for bitcoin. I met him at Penn Station the following day and he gladly helped me out. This interaction proved to me that the bitcoin network is very supportive of one another. It is true that bitcoin is really hard to use as a normal currency and due to the current situation, it became even more harder. The slow network and increased transaction processing time, it makes even harder. Once you make the payment, you need to wait till the time it gets confirmed. Imagine waiting for an uncertain time for making the payment when you are out to grab a quick bite. So bitcoin looks even more attractive as an investment destination. Bitcoin price is still strong and lot of people are still investing in it. The public trust is not broken yet. So it is better to invest and trade on bitcoin, but don't take it as a regular currency to buy your daily things. |
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I thought for sure it would take until the end of 2018 but it looks like this summer ethereum might pass it up. With the turmoil around BTC potential splitting, it might be very soon. IMO this is healthy, we will always value bitcoin for being the one that started it all, but it's time for a more dynamic and adaptable currency to take the lead.
Well, you may not be true in all senses. Bitcoin is the pioneer and it is still enjoying the highest market cap among all other crypto currencies. I understand that ETH has come up very fast and the way its market cap is increasing, it may defeat bitcoin. But the price factor is really hard to beat for ETH or any other crypto currency. Bitcoin is not just a currency, it's an emotion to many people. I have come across few people, who have left their job to go full time on bitcoin. It is true that many people are now diversifying on ETH, even I have done the same. But it is almost impossible to beat bitcoin in pricing. I can't see that happening within few years. |
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Just received reminder bitcoin dropped a lot, the price of the last week is very unstable, leading to other competing currencies continued to fall, there is no bottom line of that kind of fall, I would like to ask you tycoons on how to look at the future market?
Bitcoin is indeed a roller coaster and that is what makes bitcoin so special. It has a huge potential go up in prices and before every surge in price, it takes a slide as per the normal rule of the market. This time bitcoin touched 3000 USD and then came back to 2400 level. This is just to make the base stronger so that the future surge can be supported. I am sure the next surge is going to be even bigger than 3000 USD and that's why it is currently resting at 2400 USD. A lot of investors and trades have booked their profit and now they are all set to invest again at 2500 level. It is the best time to buy bitcoin now. |
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For true devotees of Bitcoin, the price of the digital currency is almost irrelevant. They believe in its inherent value or, more frequently, cannot see any value at all in the alternative of government issued fiat currency. Price is therefore not a concern. At the other end of the spectrum, for those that harbor what appears to be an irrational hatred of Bitcoin and anything to do with it, the exchange rate also matters little. They were screaming that it was all worthless when the price was at over $1000, and somehow convince themselves that an exchange rate of over 200 times what it was before that bubble proves their point. For the vast majority of people somewhere in the middle, however, the price of the currency in Dollar, Euro, Yuan or whatever terms is important. Read more: http://www.nasdaq.com/article/does-the-price-of-bitcoin-matter-cm476312#ixzz3a1cH4qcUFor me, only the value of bitcoin matters and nothing else, not the technology. I am a long term investor of bitcoin and I am earning since the price was at 450 USD. I started trading at the same time. So bitcoin has become a second line of income for me by now. I have a day job and I trade during weekends only which adds a good amount to my portfolio every week. Bitcoin has the potential to go up in future and hence I am investing in bitcoin. I have also recently diversified to ETH because the price of ETH is increasing continuously. For me, crypto currency is an investment where the price and profit matters. |
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