The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.
I think that's an advantage of bitcoin. Fluctuating prices that make bitcoin different from others. With fluctuating prices there are many users who can make a profit. Although the risk is quite large. But I think the user would prefer a fluctuating price I agree with you, the fluctuating price of bitcoin is an advantage for me because it is dumping and pumping and if you are an active trader and if you are aware of those circumstances then you can make money from it because you just need to have a great timing in buying from a dump or dip then selling it for a pump and just repeat the cycle to make money. |
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Bitcoin will become one of the most well known currency for sure because right now, a lot of countries and people are adopting bitcoin and most of the people now are talking about bitcoin because of its price and profitability. Why i said profitability? because of the price movement of bitcoin where most of the traders took advantage to make a few bucks.
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I think that most of the cryptocurrencies need adoption from different countries or people but before that it needs a lot of improvement like in bitcoin, it needs fork or upgrade so the network will become bigger so it can handle more volume of transaction and user and it also needs to improve its security because of the threat of quantum computers. After those solutions then it is easy for bitcoin to get demand from different people or country.
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Trading, absolutely!
Indeed, trading is one of the most profitable way in growing our bitcoin because just like what happened a few moments ago. The market already had a big dump on most of the coins and if you buy some of the dumped coins then you already made a few profit because they just got dump hard and pump up in less than an hour so if you are a good trader then growing your bitcoin will be easy. |
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Delay of bitcoin delivery is a common thing nowadays. Many people are experiencing similar things. In order to handle this we can increase the fee in every bitcoin delivery.
But as long as the fees are continuing to increase as well as the delay of bitcoin then it might be the cause of the death of bitcoin because people use bitcoin because they want fast and cheap transaction and if bitcoin will not be able to get those back then it will just a waste for other people to continue using bitcoin and if the demand for bitcoin will drop then it will die. |
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I will be practical here and I won't deny that one of the best thing I think about bitcoins is that I can gain some wealth here. Mostly here but not all also entered the industry of bitcoins just to earn money just like me. Second is how it is easy to cashout my money from my wallet in just an hour or a day at most(I don't mind the transaction fees) compared to other payment processor that takes me days or weeks or worse is in a month.
I agree with you, whether we deny it or not. Money is one of the most concern here because if there is no money here then there is no people who will get interested in bitcoin and because of the power of bitcoin it gives a lot of opportunities to other people to gain some money and increase their wealth or even preserve it for long term. |
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yes sir! holding, saving and still buying bitcoin, good for investment good for future retirement!  Good for you that you are already found bitcoin and you believe in bitcoin as a good future retirement fund. As a bitcoin user, we should keep saving and buying bitcoin while we can get it for a cheap rate because after at least 5 years we can see a huge difference in the price and if we have patience enough then we can get a lot of money in that year. Patience is what we really need to be successful in bitcoin plus being able to study the work and task to earn it so even we not buy we got the opportunity to save some. Your right after 5 years it would be a great chsnce to gain more even 2 to years. As long as you have patience in bitcoin then after a few years you were able to make fortune from it and not only holding bitcoin is the possible way to be a rich person because we can also do investments, trading and so much more because in bitcoin there is a lot of possibility for us to make a lot of money and it is just depending on our eagerness. |
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I heard that bitcoin is a good investment for making a huge profit in the future , is that right ? Because i want to buy some bitcoin in these days .
Yes that is right, just buy bitcoin and keep buying while it is cheap right now because in the future the price of bitcoin might go up even higher and you will have that chance to become wealthy because of having bitcoin in your investment portfolio or retirement fund. Bitcoin is one of the potential currency that can change the world in my opinion. |
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Yes, you should buy bitcoins before august 1 because i believe that the segwit fork for bitcoin will become a successful fork and it will enable bitcoin to transact faster because of its increased size blocks and also a lot of people will get in touch in bitcoin because of its more space network that will help bitcoin to adopt more user in the world that will make the price high.
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Price fluctuation of btc is largely affected by btc demand in the market. This changes over time, thus creating a rise in price, is also one of the opportunities to make a profit..Market stability is maintained only when btc supply and demand are close together, so btc prices will stabilize.
Yes, so I want to correct this that price fluctuations are not only determined by the demand but also the amount of available bitcoins (supply). These are basically the factors of Bitcoin's volatility. I agree with you, the volatility of the bitcoin price is always depending in the demand and supply and you can't split those things because they are very related to each other, if the demand goes up then the supply goes down and if the supply goes up then it means that the demand is going down so it is very related to each other and as long as we are maintaining the demand that we are getting right now then the price will keep going up. |
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Based on my own reading and research on this very important matter, for sure this will not be the end for Bitcoin and in fact this act is done to make Bitcoin more agile and efficient so that it can handle more transactions which hopefully can unclog the backlogs of transactions in the blockchain. There is no debate that there is a big problem in Bitcoin and what is being debated until now is the correct solutions or solutions for the problem of scaling.
Now, the worst that can happen will be the split almost similar to what happened to Ethereum that resulted into the classic Ethereum or ETC and the more popular ETH. In case, there would be a split then maybe we can be receiving two types of Bitcoin by then but this can of course affect the value of the coin most especially immediately after the event.
However, I still believe that there would be no split and if there is then it will not be bloody as feared by many. The bigger interest of the common people holding Bitcoin should prevail.
so how do we know which kind of BTC we have now if this happens? I think the scenario will be like on what happen in ethereum, if you will put your bitcoins in a site or wallet that supports BIP148 then you are capable of receiving the new type of bitcoin where in ethereum it is called ethereum classic, so you just need to put it to a wallet and for sure there is difference in name of the coin so you will not get confused in bitcoin and the hard fork type of bitcoin. |
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I have all my coins in on an online trading site (paxful) (low volume)
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
Storing your bitcoin in a trading site was a good idea but you can also use bitcoin wallet in storing them and at the same time you can use bitcoin to buy thing in some stores. But make sure that your trading site or bitcoin wallet is a trusted site so there will be no problem. yeah the worst thing if the trading site is scam your bitcoin will instantly gone so put in the trusted trading site to take safe way That is the misunderstanding of most of the people because they put their bitcoin on trading site because in overall, trading sites are not trusted to keep our bitcoin because they are prone to hacks which can stole our bitcoin and just lose it. We ca store our bitcoins in a desktop wallet or hardware wallet (based on what you prefer) because they are both good to store bitcoin as long as you know how to maximize your security. |
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Some people may not like bitcoin because of their level of understanding of what crypto currency is all about. Before someone will believe you sometimes there must be an evidence or testimony to back up your explanation of what crypto currency really is and the benefits thereof. So if you have made some money through bitcoin please show them proof if not they may not believe you.
The point is not showing people that money can be made. The point is to show people the inherent advantages of Bitcoin. If people get in to Bitcoin thinking they can make quick money, they are getting in for the wrong reasons. If Bitcoin crashes, they will hate it for ever. That is the honest thing for bitcoin and also to its bitcoin users because most of the people in bitcoin are going into bitcoin because they know that there is some magic money or fast money in here while they didn't know that there is something more worth it than money in bitcoin and that is the future of the financial system and also the things that they can benefit in using bitcoin and not only earning money. |
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yes sir! holding, saving and still buying bitcoin, good for investment good for future retirement! Good for you that you are already found bitcoin and you believe in bitcoin as a good future retirement fund. As a bitcoin user, we should keep saving and buying bitcoin while we can get it for a cheap rate because after at least 5 years we can see a huge difference in the price and if we have patience enough then we can get a lot of money in that year. |
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http://www.c[Suspicious link removed]m/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html Erik invested in bitcoin when he was 12 and not is a millionaire at age of 18. This is a good story for Bitcoin. But here is something that I do not understand: An excerpt from the article: "Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing."
"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment.""Why didn't he take the $100K and bought more bitcoins instead? Granted that there has to be some tax consideration, but tax rate has to be as high as 40% in order for both of the cash option and the bitcoins option to breakeven. If the tax rate was at 40%, then he could get $60K after tax and would be able to buy 300 bitcoins at the market price ($200 at the time). Moreover, one day when he sells the bitcoins, he can dedect $200 on each of the bitcoins from the capital gain as cost. Am I missing something in here? Don't drop out from high school? That was really a great thing happened to him i guess he really think about hes future in that kind of age and hes really lucky because he know about bitcoin in that age and, the result was really great investment are successful hes already a millionaire. Yeah, I also hope that in that time i already know bitcoin and the potential for bitcoin so i can also invest in bitcoin and just hold it until now and make a lot of money because of bitcoin. That kid is a good explorer in the internet because he find bitcoin as a great investment while other people are doubting it and i always believe that i will do the same thing if i were knew bitcoin in that year. |
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u cant get banned from a bitcoin wallet, but u can get banned from PayPal. As paypal continues to fuck over more merchants, and allow fraudulent chargebacks, people are looking at Bitcoin as a payment option
That's correct mate. The chargebacks thing and the limited transaction are moving people to bitcoin. Nevertheless, all of good thing is happening in the world of bitcoin things like many colleges, well-known universities all across the world, higher education, plus private day cares and schools that offer the montessori educational in US are now accepting bitcoin which technical means, bitcoin will overcome the so call paypal just in a couple of years. No, people are staying with paypal. Because people want to be able to chargeback if you are getting scammed. It's merchants that don't want to be bothered with returns and warranty that embrace bitcoin. I've never ordered something to expensive using bitcoin without being sure I can get my money back. Both times I used either an escrow or bitpay. Chargeback feature is not a good thing overall because it can be used to scam people because you can easily get your money back while in bitcoin there is no chargeback and i think even there is no chargeback in bitcoin it is still up to the person on how he can manage his money and how he will be careful in transacting to other people. |
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Of course yes, anyone can used bitcoin, even the student, vendor or ordinary people. Even the rich level of people allowed to used bitcoin. Because bitcoin is for anyone or for everyone.
Yes. Everyone is free to use it. No one can use it. I think those people who has lack of money is the most people who needed to use and learn how to use it. Bitcoin might help us very much. It can save them for not having a food to eat. They only need a cellphone for them to earn bitcoin and thats it. You can understand and be able to use bitcoin. And if you can do that you're free to use bitcoin. There is not even a rule in it. So no one forbids you to use bitcoin for any particular thing. That's why bitcoin is called freedom currency I don't think that bitcoin is completely freedom currency because there is still a lot of countries that doesn't accept bitcoin and some of them banned bitcoin in their country because they think that bitcoin is a bad currency because of its anonymity and also decentralization so that is why bitcoin is not completely freedom currency because of the doubts of other people. It will become a freedom currency if we can use it anywhere we want and there is no laws or order that will forbids bitcoin. |
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Thank you so much for your value able question. I thing bitcoin is a best digital currency in the world and everybody can savings his money with bitcoin. Most of The people know about bitcoin now a days bitcoin is great savings source . we know that in 2009 how many price in bitcoin but today price is boom, hope it is go fester for next time .
To be honest, it is not the best digital currencycin the world, there is a lot better than bitcoin, it is just bitcoin is the original and the first one so in terms of price, bitcoin is number one. As I said, it is the first digital currency, so it's price will be really increasing in time. It will pump, I think maybe next year breaking the strong and tallcwall of $4000. If we will base on the current cryptocurrencies in the market then we can say that there is a lot better than bitcoin because the technology of bitcoin is a bit outdated and there is a lot of cryptocurrencies that already have been launched in the market that has a better features than bitcoin and they usually focused on the problem of the world specifically which is a very interesting project. |
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I just tried to search in google if this news is true and there is no article or even news from my the sites that i often get some updates. If blockchain was bought by the company called google then it will become a very big news in the internet and a lot of people are already talking about it but it seems a false news and just a misleading title in here. I think you need to change your title into something real.
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Bill gates is not using bitcoin because he just want to make investment in bitcoin and he want it for long term and we all know that bitcoin already invested in bitcoin a few years ago and for sure he already made a lot of money in bitcoin and his company is accepting bitcoin as payment and for sure it is directing to a cold storage wallet which is made for long term storage.
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