We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
Bitcoin accepting and offering bitcoin as a form of currency for deposits are possible. Although for now, it is not likely to happen yet. Instead of banks getting afraid of what bitcoin can do in terms of its unpredictable value. It is very hard for them to make profit in an object with no certain value at the same time an intangible one.The demand for bitcoin in the future will probably dictate whether banks will accept it as a form of payment. What's most likely to happen, I think, is that banks create their own crypto to offer it to their investors. |
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The answer is: NOYou’re not the only one who has this feeling. As someone who got into cryptocurrencies 2.5 years ago (It also seemed too late back then), I think you shouldn't spend your timing regretting on opportunities you missed. Instead, you should make your first step ASAP and learn by getting involved. What should you do? Stay tuned - Read a lot about the different cryptocurrencies and try to catch up with the latest news. Know where you are at - Try to understand how this market works and the main technology behind it Understand the Blockchain in Two Minutes Trust yourself - 90% of what you read on the internet is bullshit, follow your instincts. Learn the basics of technical analysis Crypto Investor's Guides - CryptoPotato I hope it helps, GuerrillaBuzz Although the value of bitcoin continues to fluctuate. Bitcoin has been the most stable and established cryptocurrency compared to other coins. With all the infrastructures built around bitcoin, it continues to increase its potential which means that its value also has higher chances to increase. Considering bitcoin's cheap value nowadays, we cannot say that its already late to invest on bitcoin. By maximizing the dips and the pumps of its value we can earn a good profit out of it. Issues about bitcoin being a bubble has been there ever since but up until now bitcoin is still there. |
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Silly question right?  Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks. Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell. Some like: * death... obviously * house burns down along with hard wallet * one can accidently loose his cold storage or hard wallet * maybe other you figure out and I add them So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks? UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO. What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless. UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year? There's not much law that covers about your digital assets specially your crypto account since most of governments still does not support it. But by common law if you want to make sure that your digital assets are secured, first, you must at least have a back-up copy for your hard wallet or cold storage. In this way, you can secure your account even if something unexpected happen to it. In terms of death, you might consider sharing to your family your account, have them a copy of your documents together with the password so that they will be able to access all your digital assets. |
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"Hacking and scams remain the top risk for Bitcoin holders. Exchanges that shut down or passwords stolen from devices can easily wipe out a person’s bitcoins. Moreover, governments and central banks from various countries are starting to impose limitations on the use of cryptocurrencies.
Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
One of my greatest fear as a bitcoin holder, is when it totally looses its value together with other cryptocurrency. From a thousand dollar worth a piece to zero feels like a gold turn into a stone. I am also afraid that my wallet get hacked by someone and collect all my coins in it. I am also afraid about my laptop, cellphone and my wallet be stolen by somebody where all my private keys and passwords are located. |
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Buy when market is Red, a trick to successful trading. Also dont put buy orders ahead of time.
Red is one of the best indicator of when to buy more bitcoin. Every time the graph or the value turns red, it indicates that the value of your coin decreases. In that way, you can buy a part of it at a lower price compared to its price before. But it does not actually applies to all, because sometimes it also indicates that a certain coin looses its value. But if you think that the coin you want to invest with has a lot of potential in the market, I would probably suggest to you to buy more. |
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As we see that bitcoin price is down since last three months but still not reaching to its highest level.
Is bitcoin loose its popularity ?
I don't actually think that's likely to happen. Though people may start to lose interest on bitcoin because it decreases its value since the last three months, I don't think that bitcoin will also loose its popularity. Bitcoin attracted more investors because of its value causing its popularity to most of people to increase. And also, until now, there are still new and upcoming infrastructures are built around bitcoin which will also attract more users and investors. Bitcoin has still the highest value and the most number supply among other cryptocurrency thats why people will still think its better even though its price decreases. |
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Is there any bank/financial institution somewhere in the world that has embraced Bitcoin? Not that I'd deposit my money there, I'm just curious to know it.
I haven't heard any news about bitcoin being accepted in some banks. Banks look at bitcoin as its number 1 competitor for money transactions and investments. Banks supporting bitcoin is like allowing it to totally eliminate banking. Banks also banned credit card holders to use their account to invest on cryptocurrencies. But I already saw a bitcoin ATM that is maybe partnered with some other banks. Still a matter of time until banks and bitcoin to get along each other to improve our banking system and money transfers. |
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From a "lets make the world a better place perspective" should we support only bitcoin right now or altcoins also?
Altcoins have their own uses and platforms and I think that we should really support it. These altcoins are the infrastructures around bitcoin, in that way, they also affect in bitcoin's. Each altcoin have their own project in their platform which makes people decide if it should be really supported. I think we should also altcoin if we think that their project will be very useful. Invest not just only on bitcoin but also on some other altcoin that you think has a potential of growing and expanding. |
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I've come to realize that the key to real success depends 100% on success as well the same thing that happened to those who sold their Bitcoin when the price was not up will happen to tones of Bitcoin members and moving on most people don't like when they are about to be given the strongest care from a person who cares for them when they tell them to simply wait not knowing the kind of surprises they have in store for them.
It was real and i myself withnessed it with my own very eyes alot of people complained about Bitcoin for showing up some low price and due to impatient tones of people sold thier coins at cheaper price but now look at bitcoin now all those people are being haunted in thier mind day in day out for selling out thier coins.
Always learn from the mistakes of others in other not to be a victim if it truly that success it what you seek you will master patient and remain calm.
#Datarius
Patiently holding bitcoin is one of the best strategy to make profit out of your investments. There's a proper time to buy and sell bitcoin. But it does not necessarily mean that you will earn if you hold your bitcoin for a long time. I think its better to learn how to analyze the situation in the market, bitcoin's price in so unpredictable that's why we can't just rely on waiting for it to increase. Patience is key to in investments, but I think strategy is also important if you want to make the most out of it. |
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Hello,
I'm still learning about crypto currencies and willing to buy some bitcoins. Is it good time to buy?
Thanks
If you are just about to start on bitcoin, it's not yet late to get into it. If you want to invest in bitcoin, now is the right time to buy some. Bitcoin's price decreased from 10k dollars to almost 8k dollars. This is a great opportunity for you to buy bitcoins at a much lower price. Bitcoin still continues to expand and still has a lot of potential which means a lot can still happen with bitcoin so its not too late yet for beginners to get involve in bitcoin. |
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With the price starting to creep up again do you think it's a good time to start selling some of my investments or do you think it's worth holding on for a while longer?
We all know how temperamental the market can be but do you think this is just a short term spike?
In my opinion, bitcoin's stable price ranges from 8k dollars up to 9k dollars, and everytime bitcoin reaches 10k dollars and above I already consider it as a short term spike that will again slowly decrease its value after a few days. These are just some of my assumptions as we all know that bitcoin's value is unpredictable. I mostly decide when to buy or sell my bitcoin depends on the price when I bought it and as it increases its value and reached my desired profit out of it, I sell it immediately. But if you are looking for a long term investment, I suggest to hold it for a little while. |
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the more days the bitcoin price slumps down, how do you think, whether the price will stabilize or it will keep falling down ,, seems like I'm getting scared  Another price dips for this year where I think it again reaches about 8k+ dollars. I mean, seeing your investment lose its value is a bit depressing and alarming. But if you actually analyze the situation, these fluctuations are just normal and part of bitcoin's volatility. Instead of panicking about the price, try to analyze what's best to do. And that is I think to buy more, these dips are great opportunities for us to buy more at a lower price so that as bitcoin's price increase, we will be able to sell it at a much higher price. |
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If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
I will clearly explain to them the different factors that affect the bitcoin's price. And explain to them that these price dips are just normal for any kind of investment. Instead of worrying about their loss. I would rather tell them to invest more because we all know that these price dips are good chance to buy more at a much lower price. After that I will also tell them that any form of investment is risky just like any other form of businesses. Patience is key to earn more profit out of investments. |
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I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
Having more altcoins does not necessarily mean it has a higher value. When it comes to investment, I would rather prefer having few altcoins with a stable market and high value than having lots of altcoin with no value at all. In that way, I can easily manage what I have because I will only have to focus on a few coins that I think really matter. It would be easier for me to keep on track if I only have a few on my portfolio. As long as you think that coin has a potential and have a stable market, invest on it. It does not really matter how many coins you have, its the value of each is what's more important. |
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bitcoin is five years time in my opinion there will be a lot of hard forks from the original bitcoin blockchain and the value of bitcoin would increase by 300 percent today's price. if transaction's speed and price remains the same, bitcoin's not improving and maybe the price wont grow that much
Five years for bitcoin is a very long time. A lot can happen in that span of time. Based on today's market, we all know that bitcoin will continue to expand its market for the next few years. And more infrastructures will be built around its market that will make its value higher. Because of this, I think bitcoin will continue to be the number one cryptocurrency for the next few years. No one can actually predict bitcoin's price because it solely depend on the situation of its market. |
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Bitcoin has been awesome and will always be awesome. We, who have been involved in Bitcoin since the very early days understand this very well. However, for the laymen, for the people who don't really understand the technical aspects of Bitcoin or those who only watch the mainstream media are skeptic about Bitcoin. Since, all they hear in the News is how Bitcoin can be used for illegal activities and how it offers complete anonymity (common misconception) to people to do what they need on Internet. Have you ever convinced or encouraged anyone to invest in Bitcoin and did you have success? Of course, since we know that we are giving a good advice, so we would usually advice our own family members or friends about this. In the past few months, I encouraged some of my friends to invest in Bitcoin. They had a lot of questions about it from technical perspective and I helped them understand. They invested in Bitcoin and are very happy with the returns. And now this information propagates and more people will get involved in Bitcoin. In my humble opinion, as a Bitcoin enthusiast, we can help understand people the positive aspects of Bitcoin. The price of Bitcoin is still in the very initial stages and those of us who really understand what Bitcoin offers, know that Bitcoin Price is only 1/10th of what it's worth right now. What are the most common responses you get from laymen about investing in Bitcoin? Some popular ones I receive are: 1. "Oh, it's already too expensive, I cannot afford to buy it." 2. "The governments don't regulate it, why should I invest in it?" 3. "It's an illegal currency and only cyber criminals use it." 4. "What backs up Bitcoin? For example US Dollar is backed by Trust (all time favorite response  ), but what backs up Bitcoin?" 5. "The market is way too volatile to invest." 6. "You can't really use Bitcoin as a currency." I've been sharing to my friend about bitcoin. How it works, how they can make profit out of it and the technology behind it. But almost everyone has the same response about it. All of them think its just a scam that after investing a huge amount of money, everything will be gone. Others say that its price is too expensive that's why they can't afford it. I don't want to force them to invest on it because I'll be the one responsible if they lost the money that they invested. I just let them explore it and I just give them advice whenever they have questions. |
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So my question is.
Are you investing into Bitcoin purely as a investment?
Or are you investing because you believe in Bitcoin and the technology?
Back when Bitcoin started i feel people invested, because there believed in it, and wanted to see it change the world.
Now days i feel people only look at it as a way to make money, and don't really care about the future of it.
Whats peoples thoughts?
There are a lot of advantages of having or owning a bitcoin. And that is the reason why I decided to invest on it. Bitcoin has been leading all digital currencies for the past few years. Among other cryptocurrency, it is the one with the highest value among them all. I decided to invest on it because I think, bitcoin has a lot of potential and room for growth. Bitcoin continues to grow and expand together with the infrastructures built around it. Because of that, we can say that bitcoin will continue to increase its value as time pass by. |
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The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
I think bitcoin has already proven itself through the years. Talking about bitcoin becoming a bubble after sometime has already been a topic for a very long time but up until now it has not even happened. No one actually knows if this will really happen or not. I think, for me, it is impossible for bitcoin to become a bubble that will pop out after a certain point in time. What I think is most probable to happen is when it lose its value til it reaches zero because another coin better than it is created. The people who uses bitcoin are the ones who gives value to bitcoin, not the bitcoin itself. |
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Hi guys , Some of my friends are give me some ideas about Trading and Investing.
But i've some doubt which is better in that. What is the advantage and disadvantage? Because I want to focus on one at a time for generating source of income coz my funds are limited.
Can you give some of your useful ideas? I'm a begginer. I need some help. Thank you!
Choosing what's best between the two is very subjective. Its all about which one delivers more profit and which is more convenient for you. Although both trading and investment is a good source of earnings it will still depends on what suits you better between the two. Trading requires much of your time, selling and buying asset within the day, that's why it requires a lot of monitoring of your coin's price. Investment is more of a long term thing. Long term meaning months and years. It does not really require too much time compared to trading. Choosing between the two still depends on your interest. |
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Bitcoin as a course or any related currency on web.
In my country we have multiple courses in computer especially programing and web developments. My course is also information technology, but i've never heard or learn about online currency as bitcoin. In present, and future studies is there any chances for inserting about it in education. In your country is it available?
It would be better for any country to adopt bitcoin in educating new generations. Instead of playing games and wasting money in surfing xxx sites.
Learning how to use bitcoin does not actually need to be a course because it also implies the simple rules of investment just like what's thaught in economy classes in school. Financial literacy is more of self thaught,you can learn by experiencing it first hand. The things that must be thaught in college is the technology behind bitcoin specificall the blockchain technology. One of our professors in our university include as a part of his curriculum in which I think is really useful. |
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