Hello everybody. I would like to invest some money in bitcoin, I don't use that money and I don't need it for the next 2/3 years. I thought I found in bitcoin the perfect way to invest. BUT when I see the fees applied I don't see how the bitcoin will become mainstream! The fees are around 1mBTC which is approximatively 3$. Therefore what is the point of bitcoin? The only thing I see : big amount transaction But bitcoin won't be the money you use to buy your sandwich with those fees! I saw a post saying: yeah burger king is willing to accept bitcoin in russia. Hopefully mcdonald will follow ! But why would someone pay 3$ fee therefore a third of his burger king menu in fee? Will segwit may lower the fees? Thank you  Bitcoin is a good investment and that money that you don't need for about 2 to 3 years is a good range of year of investment in bitcoin because the price of bitcoin might already x3 of the price now and you already x3 your investment. The fees of bitcoin is one of the downside of bitcoin for me but i understand why it is high because of the continuous transactions that getting the network too busy and it makes the network slow so the miners need more fees so they can transact faster and i think the segwit will become the solution for the problem in the fees because it will give more block size for bitcoin which is more space and the network will become bigger. |
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I try to earn enough to save it as a future investment, if someone has at least 3k USD or even more in bitcoin I think they will be considering it seriously as an investment rather than being a source for vacation money.
Ouch it hurts me.  I am actually planning a trip somewhere after I have save a good amount to fit the expenses. Yes, you are correct, it should be for future investment rather than for vacation. I am just too stressed to things that is or should not be stressed about. But what can I do? Well, it is better if you will save bitcoin for the future rather than spending it for fun. We could always go to anywhere but bitcoin or earning money is more important nowadays. There is nothing wrong about having a vacation as long as you are not going into vacation regularly because it is not like having a vacation to relax but you are doing it as a lifestyle. Saving and working in bitcoin is also a stressful kind of job and we need to relax our selves and make our stresses gone and that is why we need to have some fun and spend some of our money because the money that we have made are for the future but we need to think about our self also. |
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Ahh, this argument again. Bitcoin is just a currency. Criminal organizations will always find a way to transfer value. If anything government should create a dark currency of their own to be able to follow criminal transactions.
I don't understand how this argument that criminals might use bitcoin is justified. Seriously look at cash.
You should only be concerned about investing this point.
The idea of a coin created by the governments to catch criminals could be novel but at the end it is not going to work, since someone that checks the source code will immediately recognize the attempt to tracks its users, and if they try to hide the code by not being open source and being closed source then no one is going to use the coin because they are going to mistrust it. If they try to hide the Code therefore does not open source and be closed source, then no one would use the coins because they will distrust it. and I do not believe if bitcoin can fund the crime world Bitcoin can fund the criminals in our world because it is very easy to transact bitcoin or send it to other people and also, it has a feature that other people like criminals look it as an advantage and that is being anonymous of bitcoin and it makes them untraceable so they can easily send or receive money in the form of bitcoin without risking their identities for the authorities. |
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Basically no, because bitcoin and banks is very different thinks in its cores but the competition between them serves the people
Competition. Do you think we could compete with banks who are being hold by the government or of course their on that side. Bitcoin users will need something to give out to those crocodiles if we want it to change. Without tax or any payment that will be dealt then there will be no change. Banks will stay and bitcoin will also do. But in terms of which should stay in case there is something to be chosen. Banks will win. They, both bitcoin and banks, should not be look at a competition to win over the other and eventually eradicating one over the other. Bitcoin should be looked at as a good alternative for payments that accept bitcoin as one of the modes of payment. Yeah i agree with you, we don't need to look at bitcoin as a competitor of the banks but a unique kind of money and also alternative for banks. Bitcoin is not yet stable so it is not like full secured currency so we need to still diversify our money both in bitcoin and banks so the risk is not high enough to make us to lose something. Bitcoin and Banks should work together and not to compete to each other so we can have a brighter feature of financial system. |
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My plans with bitcoin is I will keep half of it as bitcoin price is increasing. Half of it I will convert into fiat so I can start to have a business. Thus, Im still engage in cryptocurrency because I beleive I can still earn profit in bitcoin.
That is a great choice because you will open both opportunities in the internet or virtual world and also in the real world. Having business or building our own business will serve as a back up so if there is something wrong happened in bitcoin then we can still earn money in our business so we will not be broke. |
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I feel like whales like that are too afraid to invest in anything that they don't have pretty much complete control over.
I don't know what are your trying to say but a whale base on this market means he can control over the market because he got the most of the supply or he has a lot of money to use to buy a lot of the percentage of supply and control the market because of the manipulation that can be done by just having the most of the supply and also the power of having a lot of money or capital. |
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Yes i think there is a relation because of bitcoin nature as an anonymous currency usable online and offline it might have increased some online crimes like cross-continent drug dealing and with no ID's and evidence. And so some criminals had the idea of using bitcoins to use bitcoin in their crimes.
I don't agree with that because even before the advent of bitcoin, have they been able to curb crime, they devise ways to discourage movement of cash, still they could not stop crime. They come again and said any money above $10000 is money laundering yet they couldn't stop crime. What I see is someone trying to find a way to give bitcoin a bad name is other to slow down its process and popularity among the populace. We should accept it that because of the anonymity of bitcoin we can't prevent having a bad image for bitcoin because of that feature it is being use in the black market to transact different illegal transactions like buying illegal drugs,firearms,services and so on and that is because of the anonymity and it means that they can't be traced so i think we can't do much thing about different negative thoughts about it. |
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I think this is a good way to make other people know bitcoin because even the homeless doesn't know about bitcoin then they can still learn it because they will might get curious if we will give them tips from paper wallets of bitcoin because they will ask us if what is the thing that we gave and how they can get the money then we should just teach them or just tell them to keep it for more years and it might give them huge amount of money in the future.
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I think FIAT is too big to be removed for at least 100 years. Anything is possible in the future though!
"At least 100 years"? How cute.. FIAT as we know it will probably be gone within the next 15 years. Economic collapse is imminent and that will change our monetary system for a long while, perhaps forever. As you've stated anything is possible in the future and what I just wrote could very well be proven wrong and the complete opposite could happen. Time is the only thing that is certain in this world. I agree with you, i think that it will just need more than a decade to makes things up because the fiat now is getting worse and people are realizing it and other countries already realized it too and they already adopted or accepted bitcoin to their country as a currency because they believe that bitcoin is the future of money and if it is not bitcoin then other cryptocurrencies can really make the real money disappear because of the advanced features and how convenient to use them. |
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The fees aren't fair for the senders considering how high it is and keeping on rising BUT it is how it works, we are the ones determining the fees by how high we are willing to pay to get included quickly - Since bitcoin has no set fees -.
We can't do about it because whether we like to set a low fees it will not work because our transaction will just get stuck but we need to understand that the high fees is made by the continuous demand of the people in the market and also in the network because people now are just transacting even more often that makes the network crowded so it creates traffics and increased in the fees to solve it. |
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I don't feel safe in one address because it is like not a safe wallet for me if they are using one address only because the people can track all your earnings and i think it is not anonymous anymore. Having multi addresses in one wallet is a good security also because you will remain anonymous in transactions because they will not be able to track all your transactions because you are using different kind of addresses.
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Exactly, using bitcoin for micro transactions and especially in the offline market, it is getting more and more difficult and costly. I am not sure if we can do this or not but I would like to have some service which will instantly transfer the bitcoins from my account to the account of some other person without such high fees. Reducing cost for micro transaction would boost the overall growth of bitcoin in terms of user base and price.
It is not a smart idea to use bitcoin to buy things that are very low in price because you are like paying the item twice because of the fees that are high too or the same of the price of the coffee (for example) bitcoin is not like fiat currency and they have uniqueness and they designed differently so we don't need to expect to buy something with bitcoin in a quick and money wise kind of way. |
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Since bitcoin is trending now world wide because you can easily earn this and it exchange in real cash. Is bitcoin the new value of currency in the internet? Is he the new money? Can we use it in buying foods and etc in the future?
It can be, because as all we know it is exchangeable into a real money now. I think in the future we do not need to exchange it to a real money because we can buy things and stuff using it, using bitcoins. As of now there is some establishments who entertained and accepted bitcoin as a payment and with that i can assumed that in the future it will be our new modern currency. For sure in the future we will able to use our bitcoin to buy things and services without worrying if they are accepting bitcoin or not because a lot of stores now are thinking about accepting bitcoin because they finally realized the significance of bitcoin as a currency. Bitcoin is one of the best currency so far so it is not possible to see it over the world as an accepted payment option. |
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I think that rise in transaction fee with rise in price of bitcoin is fair enough because not everything in this world can be achieved with low prices ,so from my point of view higher the income you earn ,higher will be the transaction fee,but this wont be favorable for people who use it on a day-to-day basis.Everything and anything has its own merits and demerits because no one or nothing is perfect enough.
Yes it is like the tax on the money that we are getting from our salary in our regular job, if we are earning a high amount of money every month then the tax is also high and it will go even higher if our salary goes higher too they are directly proportional while in bitcoin the fees is just caused by the volume of the users and the continuous demand of the transactions that makes the network slower so it rises the fee so the miners will get more profits to support the network even better. |
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If you are retiring in 15 years or more its well possible that 1 bitcoin can be enough to retire on even in a first world country. I wouldn't put all my eggs in one basket though and rely solely on that, I would still look at other options just incase.
Don't settle for a low amount of bitcoin aim higher, i think 10 to 20 bitcoins will be enough after 15 years or more to build an average modern looking house because the price of bitcoin is keep on growing because of the demand that keeps on coming from the new adoptions from different people and also from the countries that are getting into bitcoin because of the potential of its financial system. |
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There is nothing new about this type of news because central banks hate cryptocurrencies because most of them are just decentralized and that is threat for them because they might lose some opportunity in earning more money from the people in their country because they might use cryptocurrencies in their transactions which will result for a lose in revenue.
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What are the reasons, why people use Cash or Credit Cards / ATM / Banks?
* Work offline 100%
* No fees.
* Accepted for Food Shopping & Micropayments
* 0 confermations time
* 0 exchange risks
* anyone is able to understanding of the value of payment
Cause we live in the real world and not many merchant that accept bitcoin. that's the answer why cash is better than bitcoin. Sooner or later we can see bitcoin as an accepted currency in the world because bitcoin is just starting to get some attention from the people out there because of the price spike and the features that they seeing in bitcoin that is clearly better than cash and as of now, i agree to tell that cash is better than bitcoin (as of now) but soon the beliefs will change and the bitcoin will become the game changer. |
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The one I like best in bitcoin is participate in bounty...
Thats a funny answer..!!! You can participate in bounties with altcoins too friend. Check the altcoins marketplace, you will see hundreds of bounty campaigns. I think anonymity and easy to transact are the best features of BTC. We can send it to any part of the world without thinking about fees. I think he is trying to say that participating in signature campaigns is one of the best thing about bitcoin because he can earn money with no investment aside from time and effort. I also like the anonymity of bitcoin because it gives me a feel of being comfortable because i don't need to put my infos that can be used in something illegal and also the affordable fees of bitcoin and the fast transactions that helps me to save time and money. |
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well the main reason is very simple as long as bitcoin is based on supply and demand there will be volatility
fiat it's not based on that and it's the reason why the value is fixed, the spread is due to economy trading or financial problems
also another big reason is because the distribution is still bad, I can bet my ass hat there are still big early adopters in play
Bitcoin is decentralized so we can expect too much price movement for bitcoin because it is just a flexible currency because of the dependency in supply and demand but even though the value or price of bitcoin is not fixed and it is often moving up and down, it is still a good thing to have for a currency because we can be a trader and make money from it. |
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Some countries may fear that they would lose their revenues which they get from taxes.They fear that they may not be able to control the economy since bitcoin is a decentralized currency.They also fear that bitcoin may increase trade of illegal products in the country.
That is right. that is one of the most that i also think why other countries doesn't accept bitcoin because they think that the people will just use bitcoin instead of the usual remittances and because of that they will get lower amount of money from the taxes of remittances because people are just smart and they start to use bitcoin because of its cheap fees and faster transaction. |
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