I know price of bitcoins now likely worth, but that is all depends how my situation now. For while may I've enough of money. so possibly I will keep them.  Believe me keep money or asset with bitcoin are good things. I'd say the same because my actions would really depend on the situation. If there's an immediate need for cash, then I'd most probably convert my bitcoin into fiat. But if I had the luxury to keep it, I would most probably choose to hold it for long term. Knowing the potential of Bitcoin, I would hope that it would have a much higher value in the future. Or I could portion out that 1 BTC, and use it for trading or to buy even more Bitcoin. |
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I first encountered Bitcoin a few years back in a blog post on how to earn money online. I first thought of it as hard to understand and too technical, especially with regards to mining. I made a wallet because I started out with wallets, but I found it as tedious and a waste of time. Eventually, I found it to be complicated so I disregarded and chose to ignore it. It even seemed like a scam because of the promise of high returns, which is a red flag for most scams. Just a few months ago, my friend introduced me to this forum which made me understand more about the concept and I even learned about different Bitcoin aspects.
Had a little regrets that I wasn't able to invest a few years back when I first heard about it but I'm here now.
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Recently, a lot of various rumors and hoaxes have been spreading ever since China has announced the ICO ban. Some have panicked and spread out erroneous information because of misconceptions on the ICO ban. Along with this came a lot of false news making it hard to believe everything you read nowadays.
If the article you cited were to be true, it would be bad and inconvenient for the bitcoin users in China. From my understanding, China is a massive user of Bitcoin and also they recognized the use of Bitcoin as legal. It's a wonder as to why they would ban the exchanges given these circumstances and situation in their country. It is possible that news like this is only made to create a price drop and to scare some people, leading to unnecessary fear and panic.
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Reading the article has even given some expository knowledge that I didn't even understand fully before and I feel its something nice to put in the mind of young ones however concerns should be about exposure to young minds which could easily be swayed by several things in the crypto space aside that all is fine.
it is to good to teach children what bitcoin is really is, but keep bare in our minds this is a big amount of money they must know how to manage it too and how do they can invest it in another aspects. just teach them both of it. I am agree with this too as i can read this article this much more interesting teaching it at the very young age teach how does it work and learn them how to invest are more profitable. Blockchain and cryptocurrency is something that will be hard to teach, but I think is necessary to be learned for the upcoming generation. It is continuing to expand and having it taught in schools would be a big help for students and also give them some advantage. It is important for the young people to learn about it because bitcoin is revolutionary, and proper education and knowledge about is necessary for it to be used wisely. |
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10K may be too much despite the amazing price hike that Bitcoin has experienced the past few months. In 2017 alone, the bitcoin price rose tremendously. With Bitcoin's extreme volatility, I think there's still a chance for the price to go down. Bitcoin's increasing popularity would affect the price and along with it, the various adoptions and news from different countries would create an impact on the price. With these kind of factors, its hard to speculate and predict the bitcoin price. If you can buy it now do so because the future is bright for Bitcoin and it is expected to be of high value in the upcoming years.
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True, there are many fees but if the price was much higher when you cashed out it would hurt less. Unless you can purchase using bitcoin there will always be fees attached.
Yes, cashing out your Bitcoin comes with a lot of fees and I can't blame the exchange services which have high fees because they themselves want to profit from their business. Those who engage in trading bitcoin would sell their bitcoin once it reaches a high price then buy more once it gets lower, and those who are good at this are able to profit. If you think you're not up for that or find trading hard, do what most bitcoin users do and just simply hold your Bitcoins for long term. With the hope that its value will significantly increase in the future, you'd profit from that. A lot of bitcoin holders from the years back have already profited by simply doing this. |
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Most of us have a daily responsibilities.
How do you manage your time in trading and in bounty campaign as well as researching for the news and updates of your favorite altcoin?
I do mine during breaks and free time. Since I have a day job, I prioritize it and do bounties and research after work. If you really love what you are doing, you will find time even on the busiest schedule. I'm a student and I have classes during the day so I also do it during my breaks and free time. I spend about an hour or two in this forum because it helps me be updated with the current crypto events regarding different matters. I can find updates and news about trading, mining, Bitcoin or cyptocurrencies in general, altcoins or almost anything under the sun. As a student, I really have to manage my time wisely because I have to focus on my academics and at the same time I am able to balance my time here in the forum. I always make it a point to keep myself updated. I guess its just a matter of priority. |
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Good sir if it's true that you were able to store that amount of Bitcoins, then you're filthy rich by now and there would be no need for you to invest it, just continue to hold it if you want but that's a bit too greedy, isn't it? Having that amount of Bitcoin is enough for a lifetime even if you had a luxurious lifestyle.
In my opinion, I've always been skeptical of loans and I never trusted them ever since the loan agency of my brother closed down causing him to stop his studies. At the same time the loan agency closed down, we were bankrupt thus giving much inconvenience to our family. Loans are a hassle and it's true that some people don't have the decency to pay back. Some little advice to you is to give out loans only to the people you trust and are at least 60% sure that would pay back because handling money is such a sensitive business and its hard to ask money from those who don't have it.
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Can bitcoin be the world's currency?
By world currency I am assuming you mean currencies that can be used by everyone in the world, without translating that currency to that country's native fiat currency. I don't think Bitcoin will become this though, too many problems such as high transaction fees, but other altcoins might have a chance of this. Anything is possible, but we still have a LONG ways to go if Bitcoin is to become used by everyone. Still today 99% or more of people do not know what it is. It's possible if technological advancements were made and the countries adopted it. The problems it has now may be solved in the near future and as of now, a lot of countries are starting to accept Bitcoin and cryptocurrencies. It would be cool though if it were. It would provide convenience for the travellers, because they won't go through the hassle of having to exchange their fiat money to the local currency of the country which they'll visit and lose a lot of money through the taxes. Also, Bitcoin would allow easy and fast transactions along with the convenience of not having to carry it around. As of now, Bitcoin may look far from becoming the world's currency but it may be possible given the circumstances at hand. |
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If I feel like I'm already earning a lot - i plan to hold 60% of my saved bitcoin and the remaining 40% will be allocated for trading, I'm into trading right now and so far i'm only trading around $50 and It makes me happy that it is earning something.
That sounds like a good strategy, the allocated percentages sounds ideal and your trading sounds profitable. Bitcoin is an investment in itself so its good to hold it, even just a portion since you plan to trade the rest. I've been wanting to allocate on trading also because I think that its a good form of investment however I'm still at the process of learning about it. I know the risks and how trading is a hard thing, so I'm not yet ready to engage in it because I still want to learn more. |
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There is too much FUD coming out of China these days, because of the ban on ICOs. China is huge for bitcoin and mining, and I doubt they will ban bitcoin news and updates outright. I see the price taking a hit due to fake news.
I agree there has been too much hype over the China ICO ban these days that people misunderstand and mistaken it for a total bitcoin or cryptocurrency ban when in fact, China recognizes bitcoin as legal. They have simply restricted and declared ICOs banned, but not bitcoin itself. I think that Bitcoin is pretty strong in China and there are chinamen who invested on bitcoin, so it is not possible to have a ban. If its true that the price has been drastically affected because of this news, the price now is slowly starting to recover. |
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Emotion and psychology are very difficult to control. But you have to learn how to control it. Only then can you make the right decisions. In order to have confidence in yourself, to control your emotions, you have to understand the market carefully and follow the fluctuation of prices to be able to predict accurately. So you can succeed in investing btc. But all are exceptions. There will definitely be wrong decisions. But, try!
Sometimes, listening to your emotions and gut feelings may lead one to their success because it makes them decide wisely. Other times, it make them too scared to make a decision just as you have shared. There's nothing wrong with that, it is but normal to feel scared sometimes or have some doubts. Just don't let it have total control over you or you will lose your mind overthinking about it. It really is hard to make predictions and speculations, and there is no 100% accurate price prediction out there so just try to research thoroughly and make a judgement for yourself so that you can make decisions confidently. |
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As said by mostly everyone here, earning bitcoin is not easy unless you either have time on your hands or you have a base investment, which the bigger it is, the more you will be able to earn.
I would recommend offering your services to the forum. Are you a coder, a designer, or anything else? If you have skills, people will definitely come and find you to do work for them.
Those are the most common ways of earning bitcoin, if you don't have enough to invest perhaps you can save up so that you may buy some bitcoins. But aside from that, yes, offering other types of services is a way for you to earn some bitcoin such as graphic design or programming. I think there are a lot of people here looking to hire for those who have the skill, you could also join signature design contests. A lot can be see in the marketplace section of this forum. There are also other websites that hire freelancers with various services which offer to pay for bitcoins. |
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Maximum people were skeptical about Bitcoin in 2014. Many are still today, but number has gradually decreased this year. In 2014, approximately some 1-2 million people were in Bitcoin and was completely a new commodity. Anyone would think that it will fail. Warren Buffet is indeed good with stocks and shares. But cryptocurrencies are way different from them and during that time governments were also wary of Bitcoin and were advising people to stay away from them. Anyone could feel that Bitcoin won't survive. Bitcoin has always been unpredictable.
We can't deny that Warren Buffet is a good investor with the millions he made with stocks and share, there's no question to that. Judging from the article, Warren Buffet only saw bitcoin as a means of transmitting money and then compared it to a check. Bitcoin is very different with a check. Perhaps Warren Buffet simply failed to see the other characteristics of Bitcoin and did not see its potential. Back then, a lot of other people similarly chose to ignore Bitcoin. I agree that Bitcoin has always been unperdictable because even up to this very day, no one can say for sure what the future entails for Bitcoin despite the price rise |
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What is the status on the legality of bitcoin and crytpocurrency in your country? In my country, it is perfectly fine to do so. A local exchange wallet allows us bitcoin users to easily have our bitcoins exchanged into our local currency, and we may retrieve this through remittances or have it transferred directly to our bank accounts. I don't see anything wrong with selling your bitcoins for cash, unless the mere possession of bitcoin is considered to be illegal in your country.
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We are not in a bubble - the rocket has not even launched. The crypto space is still so small that it's almost insignificant.
Long term i would definitely agree with you - bitcoin is still a relatively new project, and mass adoption is still very very far away. Long term wise we are probably not even achieving 1% of the potential that bitcoin can do to help decentralize and stabilize the world economy. But short term we haven't gained that many users but yet the prices for bitcoin has risen by 400% since the start of the year. I don't think that this is sustainable growth, and this short term bubble could pop very soon. I think that we are currently near mania, or even bull trap. Not sure where exactly though. Maybe were in a mania phase, because Bitcoin and cryptocurrency has been slowly been gaining some media attention. Its been featured in social media sites and some celebrities like Mayweather has given it some notice, and I think it has brought some enthusiasm from the public. I believe that in long term, bitcoin and crypto will remain strong and that it is not a bubble. But perhaps this massive price hike will soon have an end and maybe it would stabilize. I am confident in bitcoin and there's still a long way to go for its progress. |
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China not only ban ICO but also the tokens distributed in this year, the government support blockchain technology but ban the ico which will cause public events and financial crime
This is just a precautionary measure, the Chinese Government is only afraid of people making a deceptive investment. Everything is fine, and we do not panic. BTC has returned to normal, this issue loads everyone busy. Yes, from what I know, the China government's view on Bitcoin and cryptocurrency is that they consider it as legal. Perhaps the article is very erroneous because the author does not have sufficient knowledge on cryptocurrency and Bitcoin, that they failed to differentiate what Bitcoin is from an ICO. This is the sad thing about some poor quality blogs. China's action must have been made to regulate and prevent its citizens from getting scammed, for the reason that perhaps some people have reportedly been scammed in ICOs before. The China government wanted to have some control on the matter. This may have had some impact on the price of BTC but it is slowly recovering now. |
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Btctalk name: orions.belt19
Rank: Member
Current post count: 213
BTC address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
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What are the reasons, why people use Cash or Credit Cards / ATM / Banks? Look at the benefits of bitcoin. * Works online 100%, 100%transparent for private and commercial use. Total control of private or public money for it's holder or holders, investors, governments etc. * As It's works online there no need of expensive steel safes or bank deposits to keep your money safe. Any password or time code can be used. * No fees. Unlike cash, hasn't 2%-3% of inflation every single year. * Accepted for Food Shopping & Micro payments via electronic card. * 0 confermations time, with introduction of "instant pay" function. * 0 exchange risks in use of proper securities and competent insurance. * any entrepreneurs is able to understanding of the value of payment. * No need for pay terminal for small businesses. For small entrepreneurs it's a high expense of 70 bucks every month. * Theoretically it's would not be needed to have an expensive licensed cash register, for small entrepreneurs, as every transaction is totally transparent. So cases of black money flow would be easily found and proven. * Banking and gambling. No need of any verification for CFD,Stock,Currency or gambling services. These are all awesome and enjoyed by the bitcoin users. You've got to add that it's easy to carry, its not tangible like cash. Imagine having to pay for something and you'd have to carry it in bills, there's a chance of losing it or having it stolen. Bitcoin has its benefits and advantages as compared to cash but frankly, I think that most people still prefer fiat money over bitcoin because it is secure and it can be more used. Not many places recognize bitcoin and you can't use it everywhere yet. Not all retail stores accept bitcoin as payment and people would still have to resort to fiat money when it comes to daily or regular use. |
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Does the article explain why or did it discuss more on the matter? I can't read Chinese and I can only comment on the headline.
I heard that Bitcoin is restricted in China, that it is recognized as legal there. Perhaps a China man got scammed in an ICO which lead to the term ICO dubbed as thus. I was actually surprised that China chose to recognize Bitcoin as legal because they basically control everything there. Their internet is very regulated and I think you can't even open google their because they have their own chinese google. Perhaps the term "ICO" was recognized as such so as to limit its use. China is a regulation buff and they must have wanted to limit on illegal activities done through crypto and ICOs.
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