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I see a lot of optimism about bitcoin, which is understandable seeing the price recently.
But I have to admit I'm a little worried about the long term future of btc.
The major problems if the currency still haven't been dealt with. I see 2 major ones:
-Block size. Which makes the delay and fees of transaction rise very fast. Smaller transactions are more and more difficult to make.
-The centralization of the market. China got low cost electricity, which make them by far the most bitcoin mining capable.
-And maybe others that I'm not aware of.
Another thing: The Hard forks that are oddly getting much more frequent than before. (BCH, BTG, Segwitx2 etc...) It almost looks like "attacks" in order to divide us. Now called "airdrops" by the community. Even though they're supposed to solve some of the problems.
All in all, this makes me really worried about btc future. I've been a strong holder since 2014, and I made quite a lot of money with bitcoins, but I begin to doubt now, even though the price is crushing ATM. Please help me keeping faith. Or should I switch to another currency ? Really thinking about ETH recently.
I never worry about what will happen in the future, because I remain confident with the bitcoin that will pure dream in the future. the need for privacy and the movement towards decentralization not for a single coin or cryptococcus, this is a human need for security and its desire for alternatives to globalization and the bank that has persecuted us all. |
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No that is impossible. Because you can see that of course many people are now using Bitcoin, but you never know what will happen with the value and that is the problem. And i hope later that there will be more people that use Bitcoin. But many people must use banks because it is really important for them. |
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•Are going to spend or save bitcoin?
•Whats the roght thing to do? When in earning bitcoin?
I watched a man that his videos are always one minute and saying in the end thats one minute!
His Video was about bitcoin opening a shop next to a trading company.
Topic was people have a problem when earning more and more. The propper use was earn as you spend
•What do you think is propper and the right thing to do?
I save for now, but in a few years I hope bitcoin will be widespread more than today so I can buy goods with, then I'll spend some. Now we can hardly buy things with, and transfer to € is taxable by my government. |
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Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...
What's your take on this, should I go ahead and quit?
Thanks
Is not advisable to leave your job unless you have another physical trade that can pay you big time because bitcoin trading is different from real life trading. And because you need a regular job in order for you to survive in your daily lives. Bitcoin has a great value in the market but we don't know what will happen to btc a few years in the future. My advice is, use bitcoin to earn money for you to have an extra income together with your job. Don't quit your job. |
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I just wanted to know that,what amount of risk is there in investing in bitcoins.
Right now i am planning to buy btc approx 3-4 btc and just hold them as i guess the price of bitcoin will increase in future and i will get some good profit.But i want to know what is the risk involved.Can bitcoin price decrease and is this right time to buy the bitcoin.
Well, every investment does have some risk but I think bitcoin has developed itself over time and it is just going north from here in the long term. And Each and every trade got a risk factor. But I think the bitcoin is still a new concept to some parts of the world. That is, it has a room for growing. So you can always expect a good return. But it can go down in price for a short term of period. If you can control that panic situation then you will get a good profit. |
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what are the benefits you get in bitcoin? And how those it affect your daily living?
for me the benefits of bitcoin is No Paperwork Anyone, from any country, of any age can accept Bitcoins within minutes. There is no ID card, passport or proof of address that all conventional banks required to open an account. All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address. |
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hmmm One can spread knowledge about something in a variety of ways especially with the internet. In topics about bitcoins, not everybody would be interested but if you get news about it that are catchy, you are sure to get a lot of attention. If celebrities sharing news about bitcoins gets attention, expect the same for you and your friends. It may not be the main topic of conversation but at least you are spreading the word.
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if bitcoin become a payment system its good to know because There are so many benefits accepting Bitcoin as payment if you are a merchant. First is that the processing fees are paid by the sender, and the merchant pays nothing to receive funds. These fees are considerably lower than traditional payment networks.
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Yes because bitcoin transfers are irreversible, so those who inadvertently enter an extra digit when trying to pay for something are out of luck. Finally, users need a private key to access their bitcoins, and that key operates like a password that cannot be reset. If the private key is lost or stolen, so are the bitcoins that go with it.
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Should I Invest In Bitcoin?
yes you need to invest in bitcoin because The Demand for Bitcoins Is at an All Time High Globally, the demand for cryptocurrencies is growing. Some countries such as Japan, South Korea, China, Brazil and the United States have the largest bitcoin economies in the world. |
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bitcoin can be hacked ? i think it cant because Due to the nature of digital mining, bitcoin’s value cannot be manipulated or altered. Bitcoin's value is secured thanks to the cryptographic functions that it employs, and though it could be hacked one day in the future, technology and cryptography experts agree that such an attack is unlikely in the near-term. |
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for me the price of bitcoin because Bitcoin’s price is determined by the laws of supply and demand. Because the supply is limited to 21 million bitcoins, as more people use Bitcoin the increased demand, combined with the fixed supply, will force the price to go up.
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Which one suits you the most?
i use Mobile wallets Desktop-based wallets are all very well, but they aren't very useful if you are out on the street, trying to pay for something in a physical store. This is where a mobile wallet comes in handy. Running as an app on your smartphone, the wallet can store the private keys for your bitcoin addresses, and enable you to pay for things directly with your phone. |
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my biggest regret in bitcoin is First regret is I have not invested the BTC as early as possible, at least I should bought in last year. And then it lead to I am regret to sales the BTC very often this year. Feel afraid to hold the BTC for a very high price.
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Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years? We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal. Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired.  will bitcoin overcome paypal? hmm i dont think so. There are still so many people don't know about bitcoin, in the other hand, many people know what paypal is. And Maybe in future, but not now. |
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The only thing I know about Bitcoin is that it is a virtual 'money' but what are the other use of it? What are your advantages for having a bitcoin?  for me the advantage of having bitcoin it can Provides Interest On Your Investment Bitcoin is considered as commodity money, so when you hold bitcoins, you can invest them in the same way you might invest in a business with fiat money. |
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Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
is bitcoin trandaction fees fair? i think yes but If people pay it then of course it's fair. It's like every other business model. if a customer pays then obviously it is going to be something that supply and demand will influence the price. |
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Why use Bitcoins ?
I keep seeing threads on “why don't people” ? The real question to me is Why would they ?
-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.
I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.
I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.
why use bitcoin? because bitcoin It’s fast When you pay a cheque from another bank into your bank, the bank will often hold that money for several days, because it can’t trust that the funds are really available. Similarly, international wire transfers can take a relatively long time. |
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Good Day Sir!
I just rank up as Jr.Member. I also change the signature as Jr.Member please update my rank in spreadsheet. Thank you Sir.
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What is the safest way to keep bitcoins.
Taken dangers like hacking, losing in to account!
for me the safest way to keep bitcoins is on Paper Wallet. A paper wallet is also a relatively safe way of storing Bitcoin, although it requires a bit more advanced understanding of how digital currencies work. Generate a paper wallet online using any number of dedicated websites, or generate the wallet offline for even greater security. |
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