Bitcoin Forum
June 21, 2024, 09:03:44 PM *
News: Voting for pizza day contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Covid 19 on: October 17, 2020, 02:39:21 PM
It seems that you already had experiences on cryptocurrencies before, so having knowledge about investing in crypto again will not be a problem. And yes, today as a pandemic strikes, it is good to invest here due to the potential of high-returns. However, you're already also aware that investing in Bitcoin is a very high-risk investment. Bitcoin is on the internet that's why it is easy to steal and much harder to return and trace. The bitcoin itself is secure and it is as only as secure as the wallet storing them due to the possibility of hacking. You should keep in mind that securing your investments here should be your top priority. Assess yourself and ask this, "Should I take this opportunity, if I'm gonna invest all of my income and capital to Bitcoin, could I take the big risk?" As an advice, maybe simply take the risk what you can afford to lose.

If you really want to invest in cryptocurrencies now such as Bitcoin, maybe don't invest all of your capital in cryptocurrency.  As I learned in investing, If you want to invest don't put all of your apples in one basket. How about getting only no more than 10% of your business portfolio will do, as the one rule of thumb of having good investment in bitcoin. At the end, if you really want to invest it all, having contingency plan will do, if ever you lose on this game of investing in Bitcoin.
2  Bitcoin / Bitcoin Discussion / Re: Bitcoin legit or not on: October 16, 2020, 12:44:50 PM
Crytocurrencies such as Bitcoin is legit. The proof already established by legalizing it to different countries such as Japan who is one of the fastest developing technology markets in the world, US, Germany, France, Canada, Singapore and many more. Regulations are also implemented in some, although there are still limitations amidst the positive attitude towards it. In fact, some countries like Singapore, crypto-transactions are taxable in some cases.
If it's not legit, would they impose this kind of currency? That's why most of the people around the world are considering the possibility of it to be part of the trading market.
3  Bitcoin / Bitcoin Discussion / Re: Why do people avoid bitcoin? on: October 15, 2020, 03:09:27 PM
I actually asked it to myself before, if BTC already existing, why not most of the people around the world we're not using it as a currency in the market, especially in the world of trading. Moreover, it is truly possible due to advancement of technology, Bitcoin can be the future of currencies due to its efficiency, effectiveness and accessibility.
 
I research about it and I found out the reasons. (1) Bitcoin currency and cryptocurrency are too risky because of its volatility and can be a problem because of its security. (2) Most of the people are not literate about it and it is hard to understand because of its complexity, that's why they find it too difficult to use. (3) Using BTC and cryptocurrency is still on its way to be a reliable currency to the public, that's why there are some countries that has already implemented regulations about its usage such as US, Canada, Japan, Philippines and some more, in order to balance the user's protection while having technology innovation. (4) As said above, It is difficult to use or difficult to buy. Besides, what is the difference of using BTC and cryptocurrency if there are other easy methods of payments that can be use such as Paypal, credit cards, Apple Pay and etc. (5) Additionally, some people are relying on its historical background that there are negative events happened while using BTC, some evidences are hacking towards cryptocurrencies trading, crypto wallets and public blockchain, that leads them to have negative view about it. (6) Using BTC and cryptocurrency are somehow are of little usage on a massive basis.

Mentioned above are the reasons why BTC and cryptocurrencies are being avoided by most people. They find it unworthy and too risky. All the factors stated can be answered and solved by having PROPER EDUCATION, TIME and then having PROPER REGULATION can be helpful too. Hence, all obstacles and doubt about the usage of BTC and cryptocurrency will be removed in the near future.

Source: https://hackernoon.com/6-reasons-why-people-still-arent-buying-bitcoin-27c40f646617
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!