Russian is planning to have its own version of Bitcoin backed by the Sberbank. "Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday. "https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceoWhat type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down? What is your thought on this? It will surely impact bitcoin in positive way. What I understand that Russia is planning to develop their own digital currency based on blockchain which will compete with bitcoin. So it will make bitcoin even more serious business to the newcomers to the blockchain industry. They will take bitcoin more seriously when they will hear about this news. I don't see it as a threat to bitcoin in any way, but expect bitcoin price to further increase if it happens. People who will take bitcoin seriously, will start investing in good amounts in bitcoin which will further increase the market cap of bitcoin and so the price. Russians adopting digital currency will increase bitcoin's popularity for sure. |
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You have your own perspective and I respect that. However, what Mr. Satoshi wanted for the bitcoin, we have long diverted from that path. Like you have said in the thread, A world where you can send money anywhere and to anyone in the world, instantly and with low fees. Apart from sending money everywhere, do you think we have achieved the other two aspects like instant and low fees money transfer?? I think NO. Bitcoin transactions are not instant and definitely not with low fees. Rather, bitcoin transaction fees are way higher than any other online payment processors. So I think bitcoin going towards a future, which majority of the users have chosen for it. I am absolutely happy with that because I am an investor and trader of bitcoin. The high price is giving me hope and hence I am associated with bitcoin. If the price drops to $1, I am sure 99% of the bitcoin users will loose interest on it. |
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The amount of altcoin is overwhelming,
So I am confused to choose a good altcoin for trading, Can you please mention any coin whose price is stable, So I can include it in my trading list,
I once had a bitter experience, I bought altcoin, but in the end it did not sell And lost from the market, For example digieuro
99% of altcoins are useless and you should not buy any of them. Go to coinmarketcap website and click on the price tab. It will sort the list of crypto currencies as per the price from highest to lowest. Also the trading volumes for those currencies will be there. Try picking up such currencies with trading volume. Also choose which currency is active in more than one exchanges. The more the number of exchanges, the better. You will be having good market to sell your coins in profit. As of now, I am trading with ETH and Dash. However, there are some more good coins to start with. |
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I am having 10 Bitcoins right now, I am a gambler but never did both of those mentioned: Trading / Investing.
Which option should i proceed with? A small guideline will help me alot.
~ TheBitcoinSoldier.
Investing is not an option to increase your bitcoin because there is no way you find a reliable place to invest your bitcoin. All programs who promises to give daily profits on your invested amount will eventually run away with your money before your get your investment back. So never look for a place for investment. Till date I have not found one. However, trading is a highly recommended method to get more and more bitcoin from your efforts. Trading has the ability to give you a huge profit if you can play it right. If you don't know what trading it, go to youtube and you will get a lot of videos which will explain trading in details. Start with a small amount and once you are comfortable with trading, increase the amount. |
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I think in the presence of bitcoin will reduce unemployment, because searching for bitcoin also requires hard work and creativity, and competitiveness in bitcoin is also high almost similar to work in the real world
What is your opinion this time?
I am not sure about how bitcoin will help to reduce unemployment but I am sure bitcoin has made many people financially independent. Probably not by giving a job but by providing them with an alternative income route. Many people are actually earning well through bitcoin and became financially independent. I have a day job which pays me well and I can take care of all my obligations with my salary. However, using bitcoin has shown me the way to extra wealth which save for the future. I am sure with my bitcoin savings only, I will be able to buy something really special for my family in future. |
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I have some bitcoins and found a secure way to keep them. What do I do with them now?
If you were able to keep them securely till today, keep them for some more years to make the most out of it. Bitcoin price is still not seen its peek yet and there is a lot of potential to go even higher than you probably have anticipated. So it is better to keep them for some more time. You can also cash out a minor portion of your bitcoins to invest in a real life business which you would like to start. Else you can start with online trading with that amount of bitcoin. Once you have the knowledge about trading, you will be able to multiply your bitcoin within a very short period of time. |
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Payment confirmed...Thanks Notaek.  |
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Bitcoin price is acting like it is related to the gold price. This is happening regardless of whether you or I think Bitcoin has or should have any inherent value.
Bitcoin may not be a wise store of wealth, but it is reaching and achieving Facebook-style dominating and recognition.
An even 1.0 Bitcoin to Gold Ratio was strong resistance for a long time, but now bitcoin has broken above it and the gold price may act as strong support.
Bitcoin has been acting like gold, not silver. And if bitcoin even began to move closer to the total market value of gold.
Bitcoin and Gold are two different assets classes and both are technically and fundamentally different. Gold has many other uses apart from only investment but bitcoin is good as an investment instrument. You can't make ornaments with your bitcoins. So as an investor of bitcoin, I must say bitcoin is outplaying gold since long in terms of growth percentage since long. Gold has never given that much of return that bitcoin has given in the last year. So I don't think gold can be a good competitor to bitcoin ever. Bitcoin is great for investment while gold is good for preserving your wealth. |
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That day when bitcoin hits 50,000, and this topic wil be replied and honored by the new folks whom are new to Bitcoin by then, the day when multiple countries have the coin in use in shops and services, the day when you get paid 0.05 BTC a month for a fulltime job, what will you do with your precious coins? when this appears on your screen...
$50,023(+0.12%)
1 BTC
Will you hold them with the knowledge of becoming a millionaire, or a multi-multi millionaire? Or wil you find it enough and trade some or most of your precious, precious coins for money to buy something really big, or use it to start up your own big company?
For me, I will keep them. I might only sell a tiny bit if I would like to make a purchase of something, but for the rest I would keep all the coins knowing that 50,000.- is just the start of a new beginning (just like 2017's 2700 compared to 2014's 200.- already)
I am curious what you will do that day, when this post gets replied and all those people wish they started in the time that we did. The day when you, me and all other Bitcoin buyers basically have won the lottery, what will you do?
It's too good to be true that bitcoin will reach 50k USD in our lifetime, then I will be a multi millionaire and all the enforcement agencies will run behind me to put me behind bars. I am sure bitcoin price will be much higher than the current one in few years, but I doubt it will ever reach 50k USD because the kind of market cap will require for the same, will overrun few strong country's economy. I have kept a goal of 10k USD and I guess I will be selling a major portion of my holding then to buy something really expensive like a supercar or a real estate property. |
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That is exactly the reason why I love bitcoin and trust bitcoin. I have started using bitcoin when the price was standing at 450 USD just over an year back and look at the current price. No other conventional investment will give me that much of return in any way. Bitcoin has a huge upside potential like no other crypto currency.
I have been accumulating bitcoin since long time from trading and signature campaigns. I will continue holding the bitcoin for few more years before I buy something really luxurious for me.
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Some day in the future, you will realize that the best time to invest was not today, but some other day in the future, when prices were low. But with the information that you have today, the best time to invest is still today, because you do not know when prices will be low, and you do know that the longer you hold your investment, the more time it has to grow.
Toughts?
Frankly speaking, there is no best time to invest in cryptos. Every time is the best time because the market is open and the potential is huge which can't be imagined by what we see now. If anyone is thinking about long term investment in bitcoin or any other crypto, they should invest at any time because future holds enormous possibility to reach to the moon. I have accumulated most of my bitcoins when the price was at 450 USD and still investing today as well. because I am thinking of long term and I am sure that I will be able to make my dreams come true with my bitcoin savings one day in future. |
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Any idea how many billions of dollars off total major cryptocoins' capitalization has been lost during last 3 days in this dump?
It has to be huge amount. I know the market cap is just virtual number, but still its staggering. If this happened in real world's markets, that would mean epic disaster for global economy.
True! the decrease in market cap in the real economy would have been disaster but in crypto market it means profit booking and happy customer. So the game is different here than the real world economy. We have seen a huge increase in the market cap of most of the major cryptos in last week as people were investing heavily. Now that they have reached their profit goal, they are just pulling up their investment to book profit and again investing in lower price with the hope of the higher price again. But they are only a minor numbers of the investors. Most of the bitcoin investors like me, think of long term and hence they are invested in bitcoin since more than a year which make the difference. |
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I am sure that you all have experienced the first attempt at putting $ into an account so you can purchase Bitcoins. I looked at CEX.io and found that they charge 7% as a seller's fee. That seems pretty expensive. I have no problem qualifying for credit card use or bank transfers. There must be less expensive ways of purchasing Bitcoins. Can anybody give me some advice?
Thanks,
Scottmazzy
We do have many options for buying and selling bitcoin as per the market price. Try coinbase or localbitcoins for an example. I have used localbitcoins for many time to buy or sell bitcoin and was never disappointed. Just check the rating for the seller and look for better rates as per your need. Try finding local sellers in your localbitcoins account and you will get the options for bank account or card funding. use any of it as per your convenience and need. There is no fee taken by local bitcoins website but provides you with a free escrow platform to ensure the safety of your fund. |
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And how to they scam ? (Apart from the obvious- phishing.)
I read things like "multiply your bitcoin" and "free bitcoin". Sounds very dodgy, I stayed away. I'm surprised they can convince people to get involved.
There are many types of scams present in the online market so remember one golden rule while investing. If you see any program is offering your profit percentage for investing your bitcoin with them, simply stay away, because they are called ponzi. They will give you interest for first few days, and then they will just disappear. Ponzi is the most common type of scams in online industry. Also if any program tells you to double your bitcoin in few days, avoid them more because here you win't receive a single dime back. They will run away with your entire invested amount. |
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That decrease was expected and I don't think anyone is worried about it apart from the short time profit makers. People who are invested in bitcoin for long time, is OK for sure. Many people invested heavily in bitcoin in the last few weeks because the price was increasing. Those investors have started booking their profit by selling off their stake. That's why the price is decreasing.
I don't see any reason to panic because that is the normal rule of the market and correction is very much needed, because a correction in price gives it a strong ground for the prices to go up again. That's very normal.
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Hello folks.
I am looking to purchase bitcoin and ethereum as investments. In other words, I don't plan on using them to pay for services or goods.
My question is - what is the simplest method of cold storage? Is there a single desktop app I could use that supports both currencies? Is Jaxx the answer for this use case?
Thanks.
I won't be able to tell you much about ETH because I have just started buying ETH and still holding a small amount in my exchange only. I am planning to use coinbase account to hold my ETH as of now because the amount is low. However, for bitcoin, I would suggest you to use more than two wallets with a mix of online and offline would be good, if you are holding a good amount of money in bitcoin. Never keep all your bitcoin in a single place. Diversify and use more accounts like blockchain, coinbase, electrum and offline light account. That's what I do. |
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What do you think bitcoin's price will be in one year, exactly? the price in 29/05/2018.
The price in this very moment at BitcoinAverage is 2247 USD. so, is it going up or down?
My own guess: today's price+70% = 3819 USD. Let the guesses begin. we'll see who's the closest in a year.
Well, every people has their own version and goal for the bitcoin price. However, as per my calculation and intuition, I believe bitcoin price will go up to $3500 by that time. However, the price increase actually depends on many factors and that may not happen so easily within a year. The market cap needs to be increased rapidly to reach that price tag and with the current transaction fees issue, people tend to invest in alts. So it may or may not happen. Lets just hope bitcoin reaches even better price tag by the end of the year. |
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In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.
However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.
Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?
Very few governments are progressive in nature and they won't allow their citizens to freely use something on which they don't have any control. Bitcoin is not controlled by any government and hence they don't want to allow the users to use bitcoin freely in their country. Since the Ecuador government has launched their own digital currency, I doubt they will pave the way for bitcoin in future. The government is trying to keep the profits to themselves and not passing the benefits to their citizens. Fascist mentality! |
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Good research and a real eye-opener for bitcoin haters. Bitcoin accounts almost half of the total crypto currency transactions which shows that bitcoin enjoys huge public trust. Apart from your research, the recent price surge also confirms the same. The transaction fees in bitcoin is obviously higher than other crypto currencies, but big transactors are not simply bother about the fact till the time, they enjoy the price increase and huge investment from entire earth.
Bitcoin was always the number one crypto currency and will remain the same no matter what other cryptos come and go. Boss remains the boss always.
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So I have just heard that the pump or rise in bitcoin value was due to the recent Ransomware attack. And after the recent drop, it makes sense too, I mean the price went up considerably as the demand of bitcoin went up, and now probably they are cashing in their rewards and hence the value is going down.
What do you think?
I don't think the price increase happened due to the ransomware. What the hackers tried to do was not good and many people started thinking bitcoin as an illegal currency due to this. However, we can't deny that fact, that due to ransomware attack, the bitcoin received unexpected boost and people actually started researching about bitcoin to know more about the crypto currency. And the recent decrease in price was due to the investors who booked their profit, which is very normal and you can see the price going up again. This is a normal ups and downs for the bitcoin industry and we traders always look for such opportunity. I strongly believe that ransomware has nothing to do with the recent price surge. |
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