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There is nothing special in it. I have myself incurred quite heavy losses while trading in altcoins. A few months back, I purchased Litecoin for BTC0.0092 and sold them for BTC0.0078. Lost BTC worth around $900 during this process.
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I was wondering at the very high of the transaction fee. Does it increase with bitcoins? Or will it be resolved and return to previous transaction fees?
I recently read about off chain transactions and lightening network, so once it will be applied then all the transaction fees and transaction times problems will be resolved and the fees will become negligible to null. I am not that optimistic. What if the number of users increase by 10 times or even 100 times? Will the lightening network be able to accommodate all these transactions? If something like that happens, then even Bitcoin Cash's 8 MB block size may prove to be inadequate. |
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Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000
I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users. |
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For new users like me, it is very difficult to refrain from selling my coins. I sold some of my BTC earnings three months back. I wanted to feel the fun in profiting from Bitcoin. But now I feel like a fool. Had I held on to my coins, then I would have got a better ROI.
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Since the exchange rates have risen by more than 25 times during the last 2 years, I don't think that it will be a bad idea to convert at least some of them to fiat. But IMO, the user should hold at least 75% to 80% for long term.
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They forked BTC and made BCC. This means I had some BCC I never paid for, so I just put it in an exchange and brought some BTC with it. Now, I only had 0.3 BTC but there must be with loads who have a darn sight more and who got a LOT of BCC for nothing. This raises some questions. - Can it be good for the crypto economy if a load of money suddenly appears out of nowhere?
- How much BCC immediately got converted back into BTC?
- What's to stop people forking again, just to make a killing like this?
Was BCC good or bad in this respect? 1. No. In most of the cases, it can cause the devaluation of the other currencies. 2. May be 70% to 80% of those who claimed BCH immediately converted their coins to BTC or fiat. 3. The BCH forking/clone/altcoin succeeded because they were backed by a lot of the early adopters and developers. I don't think that the future forks will succeed in receiving that sort of support. |
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In India, second hand Honda Civics are available from anywhere between $2,000 to $10,000 (depending on the age). And the median range is close to the current exchange rate of Bitcoin. IMO, by the end of this month, the price of 1 BTC will be equal to one new Honda Civic (around $23,500).
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What if you had, let's say....5000 Bitcoins in your custody and suddenly someone demanded it as a ransom in exchange for someone very important to you, would you make the exchange?
Yes. Definitely. For me, the life of some of my dear ones are more important than money. But some of the kidnappers kill their hostages even after the ransom is paid. I don't want incidents such as that. |
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The split on August 1 took the exchange rate of Bitcoin from $1,800 per coin to $4,500 per coin. And I am sure that the fork on November will take this from $4,500 to $10,000. I am optimistic about the rates.
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I joined their airdrop by providing the email ID and ETH address. Took just 30 seconds (you just need to confirm your email ID, and no other proof is required). A lot of people are saying that the ATS market cap will top $1 billion very soon. Let's wait and watch.
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With a good basis we can come up with a realistic approach, before some people think that altcoins are scam and only bitcoin is legit but now things a big and you can tell it with the lowering dominance of bitcoin in the entire market. We can never be sure what will happen in the future but give that possibility in the future, crypto is full of surprises as price can change abruptly in just a short period of time.
You are right. Earlier, a lot of people used to think that the altcoins are mostly scam, and only a very few used to invest in them. But now the situation has changed completely. ICOs with very little backing are gathering hundreds of millions of USD. |
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Earlier I was mostly using BTC-e. But there were not many options. There I mostly traded in LTC, ETH and NMC. Now I am using exchanges such as Bittrex, Livecoin, Cryptopia, YoBit, and Kraken. The coins which I trade now include LTC, XLM, BSD, GBYTE, and BCH.
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What's the first airdropped coin?  If I am not wrong, then AuroraCoin was the first airdrop and it happened in April 2014. But this airdrop was not open to everyone. Only the citizens of Iceland could participate in it, and the allocation was 31.8 AUR per head. The value of 1 AUR is around $0.72 now. It is traded in markets such as Bittrex, Cryptopia, and YoBit. |
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If true bitcoin is legalized in India, this is a great advance, hopefully all other countries can legalize bitcoin
I am from India, and I am very sorry to tell you that this is a fake news. Bitcoin is not yet 100% legal in India. The Reserve Bank of India has warned Indian citizens against using Bitcoin and till now it hasn't made it clear whether Bitcoin should be considered as a currency or as an asset. |
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Bitcoin Cash is your friend. Go use that one. It works like the real Bitcoin, because it is actually the original Satoshi Bitcoin. Not this bullshit $10 bank charge just to make one transaction. Money Wire fees are only $50.
Sad to hear all this. I have remained loyal to Bitcoin till now. Even when Bitcoin Cash was introduced, I supported Bitcoin and till now I haven't claimed by BCH coins. But the core is continuing to ignore the scaling issues. No permanent solution is in sight and my confidence in Bitcoin is waning. |
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I am earning around BTC0.04 from my signature campaign every month, and that works to around $170 at current price levels. And it is not possible to lead a comfortable life with this amount, even in the remote villages where the expenses are low. So I am fully dependent on my regular job to survive.
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Gold for me is just a regular jewelry and the market value is constant if comparing to bitcoin.
Bitcoin price pump everyday and we don't know when it be stop pumping of it's huge value and it can't compare to gold now.
Bitcoin is only 8 years old, while gold has been used by humans for more than 5,000 years. Also, the market cap of gold is 100 times more than that of Bitcoin. Another thing is that the number of users of gold is also many times higher than that with Bitcoin. All these reasons contribute to the volatility of Bitcoin. |
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By then the bitcoin is equivalent to the current diamond  How can you compare the diamond and crypto-coin prices? The units are different. Some people compare gold and BTC, by taking one BTC against 1 oz. of gold. Here also, you can compare 1 BTC with 1 carat of diamond. Right now, 1 BTC is worth around $4,350. One carat of diamond is worth anything between $3,000 and $30,000 depending on the quality. |
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This is another fake news. The Central Bank of Nigeria (CBN) has neither endorsed nor legalized Bitcoin or any other crypto-currency. They have issued a warning against using the Blockchain technology and crypto-currencies. Mr Musa Itopa Jimoh, although an employee of the Central Bank of Nigeria is a crypto-coin enthusiast. And his words represent his personal vies and not that of the CBN.
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There is only a small chance of any altcoin overtaking Bitcoin in terms of user acceptance and market capitalization. And if that happens sometime in the future, then the chances are highest for Bitcoin Cash. My second preference would be Litecoin. The other alts have zero chance of overtaking BTC.
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