Bitcoin is a product that can be traded for good and services. Much the same as tulips, jewels, auto, silver, gold, orange juice, pretty much anything you can consider. But, can we think of it as money?
No, we can't. Bitcoin is a denominated commodity that is electronically tradable. It is not electronic dollars. It is more similar to digital gold or digital wheat for that matter. There are 21 million of them. Each can further be divided into 100,000,000 subsections (8 decimal places). That is 2,100,000,000,000,000 bitcoins, or 2.1 quadrillion pieces.
then can you buy a cup of coffee with a silver? you can buy t-shirt, laptop, house and almost anything with bitcoin. for me as long as it could be used to buy something then it's a money. bitcoin even more than just money, it's a revolutionary money that unusual but become popular nowadays as an investment but also a lot of people used it to shopping onlin , trade online etc. Yes that is one of the benefits of using bitcoin is you can use it as a secondary money and buy the things that you want online or in the real world if you like to. Bitcoin can be the future of money because the government might make a digital money to use it online and transfer remittances online and that is what bitcoin have. |
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I think the good old days of bitcoin will just remain as a part of the greatest history of bitcoin. The transactions now are much slower than before and they didn't like the old days and the faucets only gives very small cents unlike in the old days that it is easy to earn bitcoin without spending whole day in front of our computers. Good old days will gets older and older and it will be just a memory or part of the history.
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I'm new to these altcoins but I have collected around 1 million Dogecoin. But don't know where to store it. As of now, I kept all these coins in gambling site.
Is there any trusted online wallet to keep doge and dash coins?
Thanks
I think it is best to keep them in a desktop wallet rather than online wallet like the gambling site or exchanger site. But if you want to keep them for years like long term then you should find a way to keep them in a paper wallet because that's what is the best for me because it is offline and you will not worry for hackers to hack and steal your coins. |
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I don't agree with this idea. If you are trying to collect some funds just to buy litecoin then there is a lot of things to do and there still a lot of option to choose. You don't need to sell your house just to buy something with no assurance. If you want to buy a bunch of litecoins then work for it from your job and use your salary to buy LTCs not your house to buy instantly.
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I think ethereum is a good altcoin because it is going up and it can go up again if there is manipulation happens. Just wait for the price to touch 0.015-0.02 and buy a lot of ethereum and keep it for long term and you will have a great chance to earn big profits in the near future because of the possible pumps by the community or the manipulators.
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I think XRP will go down because all of its gains and pump is just for manipulation and after a few weeks it will go down just like what happen in the Dash and Eth. I don't trust too much pump on a coin because when i saw things like that, i always see it as a hype and a danger zone for my bitcoins. I still didn't buy too much altcoins because i'm still looking for those altcoins that are good for long term and not only for hype.
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Any fluctuation in price attracts attention. For investors, price is very important. Similarly, it is of great importance for traders.
In addition, ordinary people also begin to be interested in bitcoins, when its price is high
yeah I do agree with what you say there. It is obvious that the higher the prices, the more people enjoy using Bitcoin. Not only investors but also casual people will pay attention to this potential coin. The instability in the prices can draw many positive effects both when it increases and when it drops I don't think that every high price of a coin attracts people into them because most of the effects of high price of a coin will cause a fear for possible investors because if they see that the coin is already on a high price then they will hesitate for investing in that coin because they might think that they are too late so they will just ignore it and wait. |
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looks price bitcoin for now, both of them very good for investment..
but i still prefer with gold, because gold have real fisik and prce always going up
The price of gold is far from always going up. It's less volatile, however it does experience some decent long-term volatility in both directions. Gold used to be available for something like $1.7k/ounce, but now it's trading in the mid $1.2k if I remember the last spot value I saw correctly. While having physical things is always a plus, Bitcoin, in today's world so far, is pretty good overall for what it is supposed to do. As the price of the gold is not that volatile compared to the bitcoin but gold has been the option for safe investment and that is because gold was the precious thing that people store and save and use for purchase at some point for a really long time, and it stayed that way for thousands of years, and I think that as time goes by we will see the bitcoin having the same situation as gold. I can't see that bitcoin will follow the footsteps of gold because first of all gold is a physical item and it can be keep even if there is a war going on and you can still save it even there is no internet connection or electricity while bitcoin cannot do that. And second one bitcoin is just a internet thing and even though it is not popular as well as gold, the network of bitcoin is now slow in terms of its confirmation so how slow it will be when there is a bunch of holders and investors of bitcoin? So for me there is no chance for bitcoin to stay even at least a hundred years. |
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Some day in the future, you will realize that the best time to invest was not today, but some other day in the future, when prices were low. But with the information that you have today, the best time to invest is still today, because you do not know when prices will be low, and you do know that the longer you hold your investment, the more time it has to grow.
Toughts?
this is a great quote, i am heavily invested myself and do believe that bitcoin will one day rule the world, make banks obsolete and be a borderless worldwide currency. Sounds crazy but who knows that it will happen in the near future. If that happens bitcoin will make a big change in the life of everyone. Start investing on bitcoin this year ,and be millionaire someday. That is possible for us to get rich or be a millionaire in bitcoin if we just do the things right or properly. If we invest now with and buy at least 100 bitcoins and keep it for at least 5 years then there is a possibility to get a huge profit because of long term reasons. But if you don't have that big bitcoins, you can still grow it thru trading or investments in ICOs or different altcoin. |
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I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol I can see that the future of paper money seems to fall too but it doesn't mean it will make the economy of a country fall too. It will only make a difference on what we use to see, government bodies will certainly make the same thing as crypto currency or should I say a digital money and it's going to happen in the future. It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society. And unfortunately it looks like my home country is moving full steam ahead to introduce a cashless society: http://mobile.abc.net.au/news/2017-03-27/is-australia-on-the-brink-of-becoming-cashless-society/8377288?pfmredir=smThis is just another way for the government to stick their nose further into everybody's business. Well you should be ready for the change and you will actually have electronic economy / cashless society very soon. You feel unfortunate about it, well AU gov't want to nail out your taxes properly. I'm thinking that countries that are nearby Australia will do the same thing and they'll think it as a success with their technology. We will not have a cashless society because government will not allow that to make bitcoin overcome the fiat that we are currently using in our certain area or country. Government will stop that and if possible they will ban bitcoin in their country and make bitcoin as a bad idea for payment system just what like other countries did in bitcoin. |
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Its not important for bitcoin to replace. we can easily exchange them with fiat and use for daily purpose. Bitcoin's value changes from day to day. It can't be controlled by any regulations or authorities. And manipulation is easier. So I totally agree with you in this case
Yes, I agree with you mate, But bitcoin cannot replace fiat in different ways. one of them. The volatility of bitcoin price. Bitcoin price change day by day. It can decrease or increase according of using bitcoin by the community. Of course we can convert bitcoin to fiat. but most of member who have bitcoin they want convert their bitcoin when the price is high. People are treating bitcoin like it is gold nowadays but with extreme increased past, bitcoin is a type of investment there for it cannot replace the fiat in anyway, and besides the price being volatile. Bitcoin source is limited we can’t have as many bitcoin as we want so there will be not enough bitcoin for the whole world to use, and also look at the transaction only with a few users now it is very slow, imagine if more people start to use it, you will have to wait four days for one transaction. Great opinion, I also agree that bitcoin will not replace the fiat because of its limited source of supply that cannot sustain the whole population of our world and it is very volatile so how come that the businesses will get consistent value of their bitcoin. But for me there is still a chance for bitcoin to be used by the most of the countries because soon after a few years, bitcoin will be improved very well and the confirmation time will be faster than now because the miners will solve that problem by increasing their number. |
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I will go in trading cause some investment sites are scam and only few are legit and trusted. Investing in a site your btc will be on a risk situation unlike in trading you control all the activities in your account.
Of course, trading is better than investing in any site investment, there is just a few site can be trusted. But I suggest you to don't put your all Bitcoin into one Exchange trading site. We are must to put our funds in others some Exchange site too. Yeah trading is better if we comparw it on those sites or MLM scam investment that can double our money in just days or weeks . But in the true scope of investments there are some much better investments not only that kind of Ponzi Online ,Investments have many branch not only trading .So trading is an investment also in the field of it. If we talk about investing, it is not all about investing in a particular site because investing might be on ICO and also in bitcoin. If we talk about or choose between investing and trading, i can say that we should do both of them because it will help us to minimize the chance of being a loser in this kind of field or game. If we trade and do investment at the same time it will expand our capability to earn more money and avoid having one source of income. Because as the other millionaires says that never depend on a single income. |
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It's better to invest it if you we're looking some good profit saving money is not a good choice. Most important is don't invest in hyip/ponzi or cloud mining sites they are all scammers
so where is recomended bitcoin investment majority placed bitcoin investment only cloud mining, ponzi comminity(same MMM), hyip invesment i need placed bitcoin invesment another ponzi site That is the problem, people are confused because they don’t have faith in internet anymore since there were a lot of scam and fraud incidents that left us shocked, and now no one trusts cloud mining or any other type of overtime investment. But the thing is if we can’t trust anymore we won’t be able to progress and make profit, that is why if you plan in investing try looking up some review and find the best site where you could safely put your money and get a worthwhile profit. We don't need to trust anybody just to be successful and those investment sites are not very necessary to us to put our money in it. If you really want to be successful then you should be ready for different problems that you might encounter like scams and failures but i think that it is still to just build our own business with our money rather than investing it all on a investment site without assurance that it will pay off or just do trading. Remember that there is still a lot of ways to earn money not only through investment tho. |
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bitcoin will become an international currency even without recognition from the government if the people using the BTC as a means of transaction. but, seeing the potential of bitcoin, most people only use bitcoin as an investment tool. but, I'm sure, someday, bitcoin will be used as a tool of international transactions.
Bitcoin did it, and it has become the international currency right now, No regulation and it will not affecting the bitcoin to be the international currency. I agree with you , bitcoin is international currency it is just that bitcoin is not recognize by the government and not yet publicize but bitcoin is use all over the world which makes it international. Online availability makes it an global worldwide international currency, however it is not fully regularized in every country till now. Bitcoin open new ways for many peoples like me as before joining this we have no options or have to pay very high fees but now this is very easy to do many things without any problem its already international currency in near future its going to be more better and helpful as more big names joining this for better and secure transactions The bitcoin can become an international currency if only the transactions became a lot faster like they used to be and we give up the advantage of having bitcoin as an anonyms currency because I can’t see the government agreeing on people using money without knowing where they come from and who is using it, therefore they want to control it. Bitcoin is already an international currency because it is available in all places who have internet but it will not become a "legit" international currency because government want to control it because they see a lot of opportunity with bitcoin like if they got the most of the supply then it will be easy for them to get profit by manipulating the price in the market. |
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All of the answers is average said bitcoin is now popular in the world and there's ton of bitcoin advertisement on social media. But I wonder in that statistics, because when you go to your neighbors and ask about bitcoin, you will hear nothing from them. We are the internet peoples, and have the community that knowing bitcoin, but there is millions people outside there not using Internet regularly, and using social media just for express themselves in cyberspace and don't care about cryptocurrencies.
And I am curious about some activities in social media that can force them to buy and spend bitcoin to pay something in social media.
Yes most of the people in our country doesn't know anything about bitcoin because they don't pay too much attention in the creation of technologies like this. But they will be interested in bitcoin if they see it on the news and that is what's our one of the goal which is to be broadcast in the television. People like us (internet people) will just need to keep spreading the news and attract more investors and if the price of bitcoin will start to pump very high then it will attract those average social media people and get curious and turn them into a investor. |
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For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.
Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it  Well different nationalities uses bitcoin but the volume of users is not that big, bitcoin is a global currency in the sense that it has given us a chance to transact fast regardless on what part of county you belong. We are all fair here since it's decentralized and we can fully achieve freedom as well. I agree. The numbers of the bitcoin users are still just a few and it doesn't help that much in the price of bitcoin since the only big investors are still just a small part of the community. If we just continue spreading bitcoin then it will be easily increase the volume of the bitcoin users which can help for the market of bitcoin to grow up and be profitable for us. The features of bitcoin can easily attract investors or users because it is still fast and cheaper than other payment system. |
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Yes this topic is right that cryptocurrency is the future just like what we saw in bitcoin, it starts from being a cheap and slowly climbing up to the current price now and still grinding to reach higher price. I already get in touch in bitcoin and i just saving some bitcoins for my future because i believe that just after 10 years the bitcoin price will be too far away from current price now and we will say that the price now is still very cheap compare to the future's price.
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This would be a good gauge on how patient you are with your investment. Are you going to sell if you see that the price is going back below, say $800? Or are you going to continue holding and wait for the price to recover? But if you look at it in the medium term, in the last few years, bitcoin has been worth holding because of how it has increased in price massively. Just ask those who have been holding since the price was still at $200 and they would be so happy to tell you that good things come to those who wait.
That's very crucial because it's not only good price that you will see when you choose to invest in the long term, you will probably see the pump and dump many times and that will test on how strong are you with your intention. To be successful, you need to have a specific plan, a plan to sell when you need to get your profit and a plan to sell to minimize your loses, at least you are open for the possibilities and you will take all necessary actions regardless of the outcome. That is right. Specific plan will do the work for you because of specific plan it will help you to have self-discipline and you will not do wrong decisions because of that and it will surely help you to sell to the right time for you and also buy bitcoins. |
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Yes you can but I doubt it can make you rich well maybe some people lucky enough but the percentage is very small, it is just a kind of gamble
You are doubting that forex can't make your rich because you didn't know anything about it, A forex trader needs knowledge and different informations from news and updates so he can easily deal with the market. Forex trading can make you a rich person in just a year if you do forex trading properly and you know how to manage both money and risk. |
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Some people waiting for that 100$ to buy but not all because others already bought btc at higher rate. If in case this will be happen, many would go into panic selling and maybe would be go to quit on bitcoin. But I think it will not happen to go down to 100$ because bitcoin price is soaring high and many are adopts to use bitcoin.
Yeah maybe you're right, if bitcoin price to $ 100 there would be some people who do panic selling and even stop using bitcoin. Because if that happens bitcoin price is very fall and many people consider bitcoin die. But for traders will be the moment to buy bitcoin. And yes, I agree with you, bitcoin price will not fall to $ 100 because bitcoin is now thriving and price continues to rise. So I do not think bitcoin price will fall to $ 100, if one day bitcoin price fall I am sure it will not be less than $ 600. Even if the bitcoin is already dead and it keeps dumping up to $100, i will still buy a lot of bitcoins and keep it for about a few years because who knows that it might be a wrong news or announcement and they just trying to make the bag holders sell. So if i am a true believer i will still buy those dumps and keep buying and buying until the price touches up to $1,000. |
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