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It's funny that how different banks have different interpretation of Bitcoin or in general cryptocurrencies. Some are considering it as an actual threat to banking industry, some are integrating them in their system and the other part is busy in developing their own virtual currency in the aim of reducing the dominance of bitcoin in their market. Bitcoin being an international currency has effect from allover the world. But every news whether positive or negative only makes Bitcoin more popular.
I am glad banks in Switzerland are incorporating cryptocurrencies in their system and if all went successful many more banks might follow the suit. this will lead to increase in trust among users.
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I am glad that Government is actively participating not only in Bitcoin but in ensuring safety of the users. This will safeguard the exchange users from any sort of exchange scam and exchanges flying away with their money. With government having a check on such exchanges, it would be easy for the users to report crime in such circumstances. Thus ensuring the people's trust in Bitcoin which is the one of the most important thing that restrain Bitcoin growth and popularity.
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If you invest into cloud mining contracts than you might loss all your investment but if you can afford to run mining hardware by yourself than you can make a good profit in long term by both mining bitcoin yourself or offering your mining power for others through nicehash and miningrigrentals.
I doubt if solo mining of Bitcoin is still profitable unless you are an owner of big mining farm. Bitcoin mining today is not at all profitable. Instead of investing in monry and time in mining. Buying Bitcoin through that amount is more profitable in long term. |
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The ultimate fact is most of them are quite optimistic of future price and that helps a lot in driving the price uptrend in a speculative market as that of Bitcoin. These positive interpretation of Bitcoin future by some really big financial institutions will ultimately gonna attract more investors and hence will boost the price.
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Different things that the financial industry does: it moves money, it stores money, it lends money, it trades money, it attests to money, it accounts for money, and so on. Blockchain technology can successfully transform each of that. You pick any industry, and this technology holds huge potential to disrupt it, creating a more prosperous world where people get to participate in the value that they create.
Blockchain could be the foundation of a whole new era whereby our basic right to privacy is protected, because identity is the foundation of freedom and it needs to be managed responsibly.
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i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?
It largely depends upon which Cryptocurrency you want to mine. Mining Bitcoin isn't worth your time and investment unless you have a huge mining farm or really cheap electricity. Various other cryptocurrencies such as ETH, Zcash, dash etc can be profitable depending upon your hardware and electricity cost. You can check profitability of mining various coins here https://www.coinwarz.com/calculators |
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Why my two weeks stakes haven't been counted? |
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BCH price is more driven by pumps I suppose. The price did touch $1000+ but has already dropped by 40% of the yesterday's price. Indeed BCH is more profitable to miners today but soon the difficulty will increase and hence profitability will decrease. This all popularity and profitability is short lived. Investors are indeed investing in BCH but for short term.
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I bought my bitcoin a few years ago now. I was and am a believer, but the massive price increase has me worried that I am now overly invested in bitcoin.
It looks like I have 75% of my money in Bitcoin. Obviously it wasn't always like that, and it with the price rising so much recently, I find myself with a fair amount of money available for the first time in my life!
I know that Bitcointalk probably isn't the best place to ask this, but would you recommend diversifying and if so, in to what?
I was very happy when the price was $1000, but now it feels like I have enough that I could buy a flat or something. It used to be a speculative thing for me, I had invested what I could afford to lose, but now the price has risen so much that it could be easy come easy go, and the price falls back down to where it was last year.
You are not alone. Same is the case with me. I used to have a highly diversified investment plan including stocks, bonds, property and cryptos specifically Bitcoin. This was the story of 2015. After huge returns I earned through Bitcoin, I transferred my stocks and bonds invested amount to Bitcoin and other cryptocurrencies. After that I made some huge losses in altcoin trading. Now I rarely do trading and my most of the investment is in Bitcoin. I no longer diversify much as I believe Bitcoin has long to go. It has the potential to give huge returns in less time. I still have some amount invested in gold, bonds and stocks. But amount invested in Bitcoin is way more than all of them together. I believe Bitcoin is safe a bet today. |
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It is just a small fluctuation which is quite normal in Bitcoin. Why to make a fuss of it? We will keep on seeing these short term ups and downs till it touches $5000 which is quite possible in next month. There is an increased interest of investors in cryptocurrencies recently. Price is set to increase in future as well. These dips provide the best opportunity to buy more.
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Just $5000? It will easily reach $7000 this year. $5000 is very possible in next month itself. If I understand market and demand and supply curve. I could safely say that there is increase in demand for Bitcoin recently because of countries and media recognizing Bitcoin. Many investors are turning towards Bitcoin because it is a safest investment today with higher returns.
Evey investor understands the importance of LESS RISK AND HIGH ROI and any investment comprise of both is a heaven to investors. Bitcoin has both.
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Today people are behaving as if Bitcoin should only go up but not down. Just a dip $200 doesn't means that it is a crash. It is just a natural volatility of Bitcoin. Why so much fear out of nothing?
Enjoy these dips for buying some more!
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What I believe is Bitcoin is best for long term investment and not so good for short term trading. Once invested you should forget about it atleast for a year and then enjoy the returns and shouldn't get into selling and buying in short term. In case of Bitcoin these dips are best for buying more and not for selling. Keep on stacking your Bitcoin, in near future it will definitely make you rich.
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Hey,
I am right now a little bit researching about financial stability and monetary policy.
It seems that monetary policy through a central bank is pretty important for the global financial stability.
For example if there is a financial crisis, central banks try activly to stabilize the financial system.
If Bitcoin would replace fiat money and such a crisis would occur, wouldnt this lead to long term financial instability? There's a huge difference between how politics and finance are supposed to work in theory and how things actually go down in the real world. The concept of central banks providing stability can be disputed. For example the economic crisis of 2008 was largely caused by banks & their dealings with subprime mortgages rather than prevented by them. Ben Bernanke admitted the federal reserve played a major role in causing the great depression. Banks may be credited with causing economic crisis rather than preventing them. Perhaps from this we can see that there are drawbacks and disadvantages to regulation and centralized monetary policy. Some investigation and research must be done into the history of banking and central banks to lend a better perspective. Whenever Banks got greedy or corrupted, such crisis have occurred. But these incidents don't change the fact that central banks are needed to maintain the financial stability in a country and in turn are important in economic development. Right now the way our monetary system runs, I don't see that we will survive without banks. |
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Many of us didn't underestimate bitcoin but were unaware of its existence initially and today also 99% of world's population either don't have any idea about Bitcoin or are skeptical about it because of incomplete knowledge. Bitcoin is something that has the potential to make someone millionaire in the matter of some years if invested today. There is an increased investor's participation in cryptocurrencies which will continue to rise in future. All this price increase is not a bubble but an actual rise.
Bitcoin is truly a future!
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With stocks, bonds, mutual funds etc, the rate of return might be ~7% annually
What is the average rate of return for crypto?
Thanks for your help
with stocks and bonds and all that stuff the profit is always small because they don't grow that much in most of the times but at the same time this means they don't drop as much either. this makes them a more stable investment with less risk. with cryptocurrencies things are different, they grow a lot but also they drop a lot too. speaking of altcoins, they get manipulated a lot too and that makes them much more volatile. all of this makes cryptocurrencies a more profitable investment but at a much higher risk. it is as they say: high risk, high reward. so you have to choose how much you want to invest and how much risk you are willing to take. in the end if you can figure out the market you can easily double your money (100% profit) in a month. or lose all of it in a month too. (-100% loss) Who says stocks and bonds give less return on your investment or are anyways less volatile than cryptocurrencies. There are thousands of smallcap stocks which can easily give 100%+ profit on your investment that too in matter of days. Like cryptocurrencies, stock market to has huge varieties of stocks. Stocks can also double your investment in days and months but obviously include high risk just like cryptos. |
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Day trading is the worst thing you can do to Bitcoin. Bitcoin is excellent as a short and long term investment but not for day trading. I have been investing in cryptos, stocks and bonds as well as property since 2015. I can safely claim that Bitcoin is the best investment asset to get best ROI in less time with less risk. This is enough a reason to invest in an asset.
I think Bitcoin is best to start with investment as it would not need everyday analysis because Bitcoin has always grown in long term. There are some occasional dips but with some patience, everyone can make profit out of Bitcoin. You need not to be good with analysing market or charts for investing in Bitcoin. Just invest your money, sit back and relax. In matter of years you would have earned almost 10x profit.
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With stocks, bonds, mutual funds etc, the rate of return might be ~7% annually
What is the average rate of return for crypto?
Thanks for your help
This 7% rate of return on stocks and bonds is based on various assumption. It can be an average rate of return if you are investing for like 10 years or more. In a single year stocks market can itself be very volatile and might give you huge loss or profit. 7% is an average only which itself is loosely defined. Crypto market is much much more volatile than stocks and bonds. It's been just 8-9 years(not even 10 years which was the basis of you assumption) since cryptocurrencies came to existence whereas stocks and bonds are here from quite long. Market is still very new to conclude anything. |
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Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).
So which year do you think of bitcoin total dominance and why?
Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin. I agree, 10-20 years is enough time to make Bitcoin powerful being accepted everywhere on the online world and maybe 50% of real world, or more... But until there we have many years yet, technology changes very fast, we need to be aware that another Crypto-Currency can appear and make Bitcoin worthless, it's possible to happen and we must be prepared for this by reading main Crypto-Currency news for the next years. Unfortunatelly I don't think that bitcoin being accepted will increase much more than we have it today. I suppose people won't want to pay with it because the price increases. When a shop offers that you can pay with bitcoins, I really fear it will not be used and the offer will disappear again. Even if another crypto currency would take bitcoins place, I think it would have the same problems. People not willing to use Bitcoin in everyday and small transactions is a huge drawback to the Bitcoin as a currency. This is all because of its deflationary factor. Bitcoin is largely an investment asset today which guarantees people huge returns in matter of months. Why would anyone be willing to sell it then. This ultimately limits its chances of becoming a dominant world currency. |
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