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They say that it is a bubble because of the volatility of the price and the massive price increase. Whenever there is a massive surge of price increase or price drop, someone out there says that bitcoin is a bubble. People have been saying that it is for years already yet bitcoin remains to be strong and has gone through a lot such as hard forks and FUDs.
It is true that the popularity of bitcoin has increased for this year as compred to the past year but it does not mean that it is a bubble. Some indicators may make bitcoin seem to be like a bubble, but that does not justify it. Bitcoin still has plenty of potential to grow.
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Ive been wrong that i withdraw all my earnings on trading ..
i learned that ..must have patience in holding then exchanging it times 10 from the day I bought my alts..
hmm .. too bad for me now bitcoins is still aiming high ..
Everyone does have this the same mistake, I'm not too mature to the market and bitcoin trading but I admit that I committed the same mistake of withdrawing most of my bitcoins while it was on $1,000. I was excited because it has reached that amount that everyone is happy to see and I never thought that it can go more, push more and increase more on it's price. In the end, I learned the lesson that I shouldn't be excited all the time when I'm seeing the price, better to wait, hold, be patient and calm all the time. When I feel like I'm losing, I'm trying to sell what I get. Because I am afraid of losing more. I pay particular attention to not being longer than 1 week.
Don't do this anymore, this will make you regret. I agree that sometimes when the price goes up, it tempts you to sell out your coins especially when it’s just your first time. Many regret right after because they could have profit more had they not sold their coins. Even with just small profit, it makes you want to sell once it is your first time to experience a price increase and profit. We should continue to be patient and it is best to hold and wait. I agree that OP should try to sell once he feels like losing. You should not let your emotions get to you. You may incur a loss from doing that. |
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Is so difficult to guess what would be the price of bitcoin the next year, if this pump will continue till the end of the month hopefully bitcoin will double its value vy next year. Just only my predictions.
Yes, it is quite hard to tell what the price will be by next year since we will be experiencing some forks before the end of the year. A few months ago, I did not expect the price to be as high as it is right now. So it is possible to be even higher by next year; some say it may reach $10000 already. The popularity of bitcoin has drastically increased. Just by December, I expect there to be a price increase for about to $7000 I guess. We can only speculate, and this is just my prediction as well. |
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I agree Bitcoin is really a blessing in my and my friend part though. This give us an opportunity to transact online, venture the cyberworld and trade with different people in terms of different cryptocurrency. This also gives us good monthly earning and already elevated our standard of living. If I haven't known Bitcoin, I bet I will never have an opportunity to transact online.
It's definitely a blessing, everytime I cash out and spend some of it, I really thank God for giving me this opportunity to earn and to meet btc. Having this opportunity is indeed a gift. Just recently, I cashed out my btc because it was my birthday and I wanted to spend some for myself. It made me feel really blessed because I am able to spend for myself. Back then, I am not able to do this for myself. The opportunity that bitcoin has given me to earn for myself is definitely a blessing. Aside from that, I am able to have an investment for myself because I intend to hold the rest of my coins. Hopefully, this would be the key to my financial freedom in the future. |
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As to the process and wallets, I’m not sure how the early adopters were able ro pruchase their coins and whether there were exchanges already. I just heard that mining was a lot easier and it was famous back then; a lot got involved into bitcoin mining even with its small value. Regardless of how hard it probably was back in 2009 or 2011, those who were able to store their BTC must be millionaires or even billionaires right now. Do you have some regrets for not buying, OP?
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When do you expect to get 6,500$ price
Maybe after the hard fork, we will see the $6500 bitcoin price, and I think it will reach until $7000 this year. It is too possible since a lot of us are supporting bitcoin, and a lot of altcoins I think is relying on bitcoin so it is not impossible to happen that bitcoin price will reach $7000 by this year. I also agree. It may happen after the hard fork. The bitcoin price will experience some dips becuase of these forks but once it recovers, it would break to $6500 hopefully before the end of the uear. I did not even expect it to surpass $6000 just days before but here we are, bitcoin never failing to amaze me. Anything really is possible to happen to its price so we may experience the increase at almost any time. |
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The level of regret will depend on how quickly and how high the price of Bitcoin will be. Like so many, I hugely regret getting in at a very low price, making a nice profit and cashing out some of what I had, and then watching it take off like it has. Anyone right now would have loved to by in back when it was $100, but if one bought Bitcoin at $3,000 and it goes to $800,000, then that buyer shouldn't feel all that regretful.  This has been the regret of many. Even I get tempted to sell my coins whenever there is a price increase, and then have some regrets when it gets higher just right after. However, my suggestion to OP is not to have any regrets because you shouldn't put all your money in bitcoin. Always invest what you can afford to lose. It's best to leave some for emergencies and have some contingencies. A bigger regret I had was not being able to earn or invest on Bitcoin a few years back when I first discovered bitcoin. Had I been able to invest back then, I would probably have profited a lot. The price was a lot lower during that time. |
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I did not expect it to reach this high and finally break to $6000 not until the after the November hard fork. In fact, just months ago I did not even expect this kind of price increase. I am still sometimes amazed whenever I take a look at the price chart of Bitcoin for the year 2017. Almost no one has expected this kind of trend or increase. It may be possible for it to hit 10K by 2018 as OP has suggested. At this rate, I think that anything is possible for the price increase of bitcoin.
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I 100% agree with you.
In bubbles people are often led into thinking that bitcoin price will continue to go up no matter what, and it is actually not a bubble at all. I personally think that this is ridiculous, as this amount of growth is simply not sustainable and must come to an end soon.
We are still pretty high up, even though we corrected from $5000 to $4500. I think that $3000 by end of October could be a very likely scenario. Though, i think we are going to retest the $5k level before people start dumping still.
Investors are free to do whatever they like, but just remember that this is a bubble, and it is good to be rational in a bubble and not follow the hype.
A lot of people has been saying that bitcoin is a bubble for so long, especially when the price goes down or dips. I somewhat agree with OP's reasoning in the end of the bitcoin bubble. However, I do not agree that China's ICO ban and decision has played a part in it. We are entitled to our own opinions and each one may deduce different conclusions by looking at the recent happenings and with different views. As in investor, I'd like to agree with OP and have the same view because I intend my investment on bitcoin to be long term. |
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Last week, it was reported that the Bitcoin transactions going in and out of the country has reached over $6 million, and now the Central bank of the Philippines will be issuing new guidelines regarding Bitcoin legality. They gave no hint as to what their plans are, but officials from the Banko Sentral ng Pilipinas gave positive remarks, and even mentioned that cryptocurrency may help in the progress of the country.
Actually, there are already a lot of positive hints coming from the Central Bank governor himself because during interviews he is very accommodating for the blockchain technology and the cryptocurrency in general. I understand that the man is very much open-minded on new innovations and will not be using his power to block new changes in the horizon. In fact, he already approved the license of two more cryptocurrency exchanges to be operating in the Philippines maybe by next year. Bitcoin is booming in the Philippines and this can indeed be of big help to the country's still wobbly economy. Once cryptocurrency can be growing here am sure many people can be able to live financially free depending on how a person will use the opportunity presented into him/her. And because Filipinos are adept in accepting changes especially those related online then I would say that Filipinos have a great future in Bitcoin and vice versa for that matter. Mabuhay...Philippines! Mabuhay...Bitcoin! It's really good to hear that. There's a lot of bitcoin users in the Philippines and they'll be needing support from the government. Perhaps the Central Bank will impose some regulations that are in favor of the bitcoin users and in turn, cater to their needs. The bitcoin community is continually expanding so government support and intervention is going to be needed. Little by little, more and more of the citizens find out about bitcoin, cryptocurrency and blockchain technology. Hopefully this would pave the way towards better recognition in the country. |
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Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?
We can't expect bitcoin price to keep rising every day?It's simple some people are cashing out their profits but my prediction is price will soon hit 6K$ before upcoming BGold hardfork.Whales always benefit from week hands and nothing new is happening today.It's same thing and other alts are dropping too because they are too dependent on bitcoin price.  Yes, it is not possible for the price to just continue rising. That's just crazy. It's normal for the price to go down a bit every now and then. This is why there are panic sellers. When there's a small price drop, some people lose their mind and sell or dump their coins in an instant because of the fear of losing their money. We shouldn't worry about this too much. Over the year, the bitcoin price has experienced numerous fluctuations yet its upward trending. I'm not sure what to expect by the time the fork comes. It's possible to go up just days before the hard fork, but it may not break $6000 just yet. |
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There is a risk of losing all your investment. If the market crashes and the value of bitcoin drops, then you could lose all that you have sacrificed and earned in just a blink. I'm not saying that this would happen but there is a risk. This is why a lot has advised to only invest the funds which you can afford to lose because despite the good performance and potential of bitcoin to grow, there is a risk of losing it.
There is always a risk in investments - not only in bitcoin but in other forms as well such as in stocks or banks.
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LOL your title is funny anyway, no I don't think bitcoin will replace gold and no there is no war coming. Where did you read all these stuffs anyways? This is not the first time a fork happened so I think you need to do a lot more research about what is coming.
You are correct actually. War won't take place but still in a situation like war, it is hard to get food properly and at hat time it is nearly impossible to connect to internet and sell bitcoins or use them. So gold is always better then bitcoin at such situation and even peoples will try to collect gold as much as possible It's going to create some chaos and wreak havoc among the bitcoin community just like a war would. Each has its own advantages and disadvantages such as the tangibility of gold and the volatility of bitcoin. You may say that gold is better in a time like a war because its possible for bitcoin to be inaccessible when the internet shuts down but then it is also possible for the value of gold to go down during such times. Without the internet, a lot of other things will be rendered useless not only bitcoin. Surely, a lot more people trust in gold because it's a lot older and secure but it's a matter of picking your poison right. Each has its pros and cons. It's going to be a war of preferences. |
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Bitcoin is a digital currency and just like any other Fiat or local money it has an evil side so there is a legal and illegal side also, for me it is just the purpose on where will you use that money or where did you get it because at the end of the day it has already have a value so it can be exchange for something that is good or bad.
I can't really understand those people saying that Bitcoin is for terrorist, criminal, and evil doings. It is just like all the people that is going to the church is so clean that they didn't even do any bad things in their life or even after they made a prayer. There is a saying that 'Money the Root of Evil' so it is what it is.
It really depends on the person or user as to whether how they will use it and determines whether it is for good or bad. Even fiat money which is considered legal and recognized by jurisdiction, transactions are tracked, yet may still be used for illegal activities. Even if it were to be traceable and made legal just as OP said, it may still be used illegally if the user had the intention to. Making it legal and creating regulations may only prevent it. It's a misconception that bitcoin is used solely for illegal activities such as buying drugs and the like although there is some partial truth to it. It's nature makes it seem like it is used for these kind of things and it's sad that is being falsely associated to illegal acts. |
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Its really a big gamble that this family has to make. They are betting that by year 2020, they will be millionaires. Just like all of us here, we want to be rich with bitcoin. But they have taken it to a different level. On must to think logically because its 2-3 years from now and how do his family survived then? I guess bitcoin has affected and changed a lot of people's mind but somehow, you should only invest what you can afford to lose. This family invested everything and chances are that they won't be living normally and have to wait till their gamble pays off. I think that this is a big risk and the family has went through extreme measure just to have bitcoin. I agree that bitcoin is a good investment but endangering their finances and lives is too much, and I think that its a greedy act since they expect to be millionaires in the future. It may be true that with high risk comes high rewards but this is too much of a risk. No one should go through such lengths just for wealth and money because money isn't everything. They will lose everything and be forced to live in campsites forever if the market suddenly crashes and bitcoin falls. They should have at least left some just in case of emergencies or for contingencies, or at least some stable shelter. |
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I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.
Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?
You cant blame them. Campaigns here in forum is so promising that they can earn more than their day job offers. And most of the people in the community are freelancers that seeks job and will spend what they are earning here to sustain daily needs and house utilities. They are put in a situation which forces them to treat earning bitcoin as a source of income because it is more profitable than their actual jobs. A lot has testified that they're earnings from the signature campaigns has helped them more than what they have earned from their regular jobs. I agree with OP that it should be treated as an asset instead. There is great potential for bitcoin and it would be more profitable if they invested in it instead, however we can't blame those who sell bitcoins for income. Their situation makes them do so, and they need to sell their coins so that they have money to spend on their expenses. |
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Short term investment is a good investment also.as long as your investment are profitable.but this short term investment are very risky.we dont dont if your investment are become profitable or it will make you bankcrupt.
Yeah it's risky but better to know what coins should be hold for short or in long term. But in the case of bitcoin, even we hold it for short term still we can have a good profit. Of course you need to closely monitor the market so you'll know when you hold or let go. And I can say that bitcoin investment is much more profitable than saving your money in bank. None has the ability to predict the market of the bitcoin as well other digital currencies. It's really a hard task, and for short term investment its better to invest into some small price digital assets. When it comes to long term profiting bitcoin can be given preference. We may only predict and speculate the price of bitcoin and it's really hard to do so because of its volatility. But you may profit handsomely because of this volatility. If you do not make the right investment decisions, you may even incur a loss from your investment. But with high risks, come high rewards. Those who are able to sell their coins successfully are able to profit nicely. Ideally, it's better to invest long term with bitcoin. I would agree that investing in bitcoin is more profitable and better than saving in the bank because the bitcoin value will accumulate and accrue in the coming years whereas saving in the bank will give you only a small percentage of interest. |
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That may be true but we can't blame them. A lot of the users here take advantage of the opportunity of having a sideline income by earning bitcoin without actually knowing fully about what Bitcoin is. Most of them are unemployed or have low paying jobs so they are desperate enough to resort to this kind of means. Most of signature campaign participants are in this situation because it is fairly easy enough to earn through this kind of means - all you will be needing is an internet connection and a working device like a laptop or mobile.
We should push for bitcoin education among the bitcoin users so that each user would know the different aspects of bitcoin. I think that these 'low quality' users will grow to be better bitcoin users in the future as they get to know more about bitcoin, and they will develop a passion for it.
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Has anyone taken a course online on sites like Udemy to learn about bitcoin? I just received a coupon to enroll in a bitcoin course for free. Would it be worth the time?
If anyone has any experience, do share.
I dont know that there are courses online that can teach you about bitcoin but it is a good idea if you will enroll to that course for free. It will be worth it because you can maximize your knowledge about bitcoin and you will have the capability to earn more of it. I hope i can enroll to some online courses too that teaches about bitcoin. If there were an online course available, I would definitely enroll in it and tell my friends. I think that a lot of bitcoin users should be educated properly so that they may use it efficiently. I only learned about bitcoin from what I've read here, some articles and some words from my friends. It's good that there's an online course like this where everything about bitcoin is collated - and not in bits and pieces here and there. Never enrolled in an online course about Bitcoin before but I'd advise you to take it and I believe that it would be worth your time. Knowledge is power and having more knowledge about bitcoin would be your key to success. Every bitcoin user should know fully about it so that they may use it properly. |
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No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
First, you need to understand the concept behind cryptocurrencies and their nature being decentralized and volatile (for bitcoin's case). Due to its nature, it is impossible to regulate bitcoin and predict the final outcome of its price. In the even that bitcoins were to be regulated by the government, then expect that it will be imposed with tax due to the sheer volume of users who transact with it, and the price might even be less volatile. In the positive side, it may attract more people especially to the ones who have their doubts since they have the guarantee of security due to the intervention of the government. But also expect that there is the tendency for current investors to drop their investment because it defeats purpose of the investment, being less volatile. Bitcoin may not be different from any other investments like bank interests, stocks, etc. and the only factor that separates it is being digital and virtual. To add with what you said, traders rely on the volatility of bitcoin. They are able to profit because of the constant price change. I don't foresee bitcoin to replace fiat in the future. I think that there may be too many problems that would arise if this were to be implemented. Along with taxes, not everyone will be able to access bitcoin. Those coming from the lower class do not have access to internet thus they will have some trouble using bitcoin or crypto. I think that most people would still prefer to have a physical type of money. |
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