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So finally Governments would no longer stress on Bitcoin being the currency of illegal market. Bitcoin since its inception is carrying the stigma of being a currency of darkweb. Many people tend to avoid Bitcoin for the same. These statistics are indeed great and would help in driving the growth in demand. Also, now Government can think positively about Bitcoin as the major reason for banning Bitcoin is reducing sharply.
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What's new with volatility of Bitcoin? It's always been same. We have seen 50% drop many a time. 25% is still less. There is cut off period in July because of potential fork, buying activity decreased sharply and in August the same buying activity increased sharply as all the investors were waiting for August. Thus, volatility was inevitable. It was quite natural.
So I would rather say nice try to advertise your site.
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Exchanges are indeed prone to hacks. There is no deny to that. From Mt. Gox to Bitfinex, there are various incidents. The problem is not with the blockchain. It is more about exchange's security. That is the why it is always advisable to keep your Bitcoin in offline wallets and hold your private keys. Don't rely on exchanges for holding your Bitcoin. Never ever give your private keys to anyone or enter it into any suspicious link. Recently, a hack of that sort happened with Myetherwallet. Your security is in your hands.
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Joined
But need more eaplanation on point 4 i.e
4. Payment will be made every 1st and 15th of the month to participants waves wallet.
In order to get tokens do, i only have to follow your twitter account or I am needed to make occasional retweet as well?
I also want to have an explanation for these two points. |
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I have seen many ways to earn bitcoin, and still not familiar with some of it. I am a student and I wanna ask how to invest in bitcoin, and if students like me are capable of doing that already?
Please share your thoughts. Thanks.
To invest, you have to buy some bitcoin. First, register to an exchange that allows your country, deposit some money, and buy bitcoinS. Or you can also rent your signature and get paid in bitcoin. Sign up in a signature campaign in the service section, wear their signature and they will pay you bitcoin with every quality post you make. Or read threads in alt section and see how to earn altcoins through bounties. Just by reading here in the forum you can learn a lot on how to earn or invest in bitcoin and other crypto. Along with this you can start a website providing various services and can charge your clients in Bitcoin. You can start a YouTube channel explaining various ICOs. ICOs pay well for such services. Start a marketing platform including Twitter, Facebook, Instagram and reddit. You can advertise various Bitcoin or Altcoin related websites and can charge them with Bitcoin. |
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It depends upon country to country. Government banning Bitcoin overnight is very much possible, there are many countries which are wary of Bitcoin and see it as a threat. Along with legalization we will definitely see some ban too in future. But if you say Bitcoin will be banned everywhere in the world. Then that's far from possible. Every country has its own opinion regarding Bitcoin. Not all countries work in harmony. There is lot of hate between countries going on. I don't see there will be a complete ban on Bitcoin. Also, countries where Bitcoin is illegal. People are still investing and trading because banning something over Internet is certainly not easy.
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Governments, even if want, can't really ban Bitcoin or cryptocurrencies in general. The problem is it exists on internet and controlling or banning anything on internet is time consuming and it would take lots of resources and hence isn't worthwhile. Just like darkweb or torrent. Even after they are illegal, they are surviving and thriving. So will be the case with Bitcoin. Rather in that case everything will happen without government knowing anything. So by making it legal, government can atleast have a watch on exchanges or can tax Bitcoin for their profit. Moreover, not all governments are wary of Bitcoin.
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Volatility keeps investors interested in cryptos. Volatility offers various points for investment and withdrawing. Speculation is something that keep currency running. Speculation is second most effective price driving force after of course supply and demand. It might not be healthy. But volatility and speculations go hand in hand and thus can't be avoided in decentralised market as that of cryptos.
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If the people from stock market are now moving to crypto market, it will be huge by the time there will be major adoption of the crypto world wide. I'm one of the future millionaire then. If bitcoin will be more than 10k, i guess the rest of the token we are keeping are worth more than what it is now.
If you are saying investors are abandoning stock market for crypto market. Then I doubt so is the case. There might be some increased interest of investors. But stock market is quite huge and established, no investor would be abandoning it unless he gets some huge returns or a year have passed atleast. Investors always take a calculative move. |
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bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Depends on where you are at. Its fine in a bunch of Asian locales, but again, you would have to define Asian a little more specifically. As far as I see, only Kyrgyzstan, Saudi Arabia and Bangladesh has expressly forbid/prohibited btc/cryptocurrencies. The common feature of all these governments is they are a Muslim majority. This is curious, is there something in the Koran against bitcoin, or more specifically, speculation on it? I don't think it is Koran, Muslims are very much into stock market or specualtion stuff. Also, I don't think that something near to Bitcoin is present or prohibited in Koran. Many Muslim dominating countries are into Bitcoin. Anyways, in Bangladesh it is banned because country's strict anti-money laundering laws. In Saudi Arabia and Kyrgyzstan, it is more about Government being against Bitcoin or virtual currencies. |
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Price has almost doubled in the month of August regardless of high transaction fees or long waiting time. This shows people doesn't really care for transaction fees and speed. They are more concerned about their investments and returns. Thus, Segwit activation wouldn't have any bigger impact on price. Of course, there would be a positive impact of less transaction fees on community and more people, vendors and merchants will join. Thus, accelerating the demand. Regarding Max Keiser price speculation. He didn't even stick to his earlier prediction and has already doubled his $5k prediction. So is the case with everyone here. Bitcoin has largely became unpredictable nowadays and people keep on changing their predicted price.
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But beware. Bitcoin started 2009. By November 2012 it was near $1250. At the beginning of 2017, it was around $250. Now, $4300.
There are some interesting forces playing with Bitcoin. The swings are short term and long term.
There are some financial gurus out there who are suggesting $500,000 to $1,000,000... without a clear time limit.
If the USD wavers in some slightly significant way, Bitcoin might skyrocket.
Where did you get these statistics? In the start of year 2017, Bitcoin was $1000 and it never touched $1250 in 2012. It was in November 2013 when Bitcoin touched $1190. Bitcoin hovered between $100-$1200 from year 2013-2016 with occasional ups and downs. In 2017 there was an accelerated growth which is continuing because of increased user base or demand. |
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Trillion dollar marketcap by 2020 is very much possible. If we consider Bitcoin to be acquiring the half cryptocurrency cap in 2020 as well. Then the price need to touch $30k by 2020 which is most likely the case by analysing the growth this year. I think we can easily surpass $1 triilion marketcap by 2020. There is huge market awaiting with only some millions into cryptocurrencies.
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As many have already stated, several banks did invest in Ripple.
Regarding Bitcoin, there will hardly be any bank on whole who have invested in Bitcoin. There might be some senior individuals but not bank as central. Falcon group in Switzerland have started dealing in Bitcoin. They might have some Bitcoin stock. Else I don't see any bank being interested in Bitcoin. Most of the banks are busy in developing their own cryptocurrency or warning people of possible threat of Bitcoin or altcoins.
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Fall is hardly going to happen now. When the price is in bubble, it usually shoots up and then suddenly drops. While Bitcoin has been maintaining $4100-$4400 price range from quite a time now with small fluctuations. This shows all the growth was natural and will continue as well. In September, Bitcoin can easily touch $5000.
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
SIMPLY BECAUSE DOLLAR IS THE GLOBAL CURRENCY. They might have banned ICOs for as they say Customer protection but not Bitcoin. USA is Bitcoin-friendly country. Moreover, these two facts doesn't matter at all because Dollar plays a dominant role in international trade and finance as both a store of value and a medium of exchange. Therefor, it will be considered when there is something International. Bitcoin being international need to be expressed in Dollars. Most of the countries have their own exchanges and sometimes price deviates nationally regardless of international price. |
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In terms of returns, Bitcoin easily defeats real estate and stocks. It has surpassed various traditional assets this year in terms of ROI. There are indeed some penny stocks that are highly volatile and have potential to give huge returns. But they are way too risky.
In terms of risk, Bitcoin might be considered risky by most of the people. But the truth is Bitcoin has proven to be less risky than stocks or real estate(after 2008 crisis). Bitcoin has always risen in long term if we go by analysing charts. With some patience, Bitcoin never fails to give huge returns.
But in terms of marketcap and acceptability, Bitcoin is way too behind stocks and real estate. This is mainly because of its decentralised nature. There is no proper awareness campaign or advertising.
I might not even consider Bitcoin as an investment in the first place, I may consider it as some kind of trading asset because of how it is more suitable for short term plays because of how volatile it is. Also it is pretty argumentative about being the "best in returns" as from stocks and real estates are different from each other, what I am trying to say is that not all stocks have the same returns to one another, same can be said to properties. If I were you, you must compare Bitcoin to a particular stock like Microsoft or Google perhaps. Because if you want to compare Bitcoin to Stocks you must be comparing the whole Crypto market instead. I don't know from where you got the idea that Bitcoin isn't good for long term holding or investment. I have been holding my Bitcoins for more than 2 years now. Today I am sitting on almost 20x profit which is still growing(that is why I see no further risk). Bitcoin is indeed highly volatile and thus can be good for short term trading. But you can very well go for long term investment and returns are huge. Regarding comparison with a particular stock. I compared it generally with some large cap stocks which are less risky. There might be many small cap stocks which are highly volatile and can give huge returns. But they are very much risky while Bitcoin is not as it's being growing year after year. So when it comes to ROI+less risk, Bitcoin wins the race. |
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When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.
Does the bitcoin community is ready for this?
As long as the tax won't be that big, that will still make its users profitable from Bitcoin. Or maybe, even if it will be taxed, it will still be indemand because of its expensive value. But ofcourse, it won't be possible since Bitcoin is an open source system, decentralized and has no physical value. Government can only make it legal or nor but won't be able to tax it, in my opinion. It is already being taxed in many countries. For instance take USA. In USA, Bitcoin is considered as property and is liable to tax on capital gain. So does some more countries where Bitcoin is legalized. Meanwhile Japan has recently ended any kind of tax on Bitcoin. Indeed a welcoming move by the government. |
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In terms of returns, Bitcoin easily defeats real estate and stocks. It has surpassed various traditional assets this year in terms of ROI. There are indeed some penny stocks that are highly volatile and have potential to give huge returns. But they are way too risky.
In terms of risk, Bitcoin might be considered risky by most of the people. But the truth is Bitcoin has proven to be less risky than stocks or real estate(after 2008 crisis). Bitcoin has always risen in long term if we go by analysing charts. With some patience, Bitcoin never fails to give huge returns.
But in terms of marketcap and acceptability, Bitcoin is way too behind stocks and real estate. This is mainly because of its decentralised nature. There is no proper awareness campaign or advertising.
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Why it is that Bitcoin is not accepted in our country (Nigeria)?
It is either of this two, maybe because was banned by your Government for some reason, or maybe because bitcoin is not popular in your country. But as long as you know that sites where you could earn bitcoin, means you could earn bitcoin even though bitcoin was banned in your country and so on. But if you mean by not "accepted" is when you are using it on buying things, it is because your Government is not declaring bitcoin as your currency. It is not banned in Nigeria. I don't understand why OP felt so. Government of Nigeria only have banned banks transactions in Bitcoin or any other cryptocurrency. Which is rare a case for any bank in any country. Instead the Deputy Director on Banking and Payments System has himself said that Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it. Bitcoin is very much legal in Nigeria. There is utility issue as still not many vendors accept Bitcoin. But so is the case with many countries. |
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