what makes bitcoin appealing, in other words: what is the "breaking the ice" part about bitcoin that you can tell a newbie in a sentence or two, too pull them into this crypto journey BTC @millzp0
One thing they said to me that encouraged me to join is the amount of money they're(my friends) are earning. It's more than what my parents earn, with less effort. And besides we're still students, it made me think that it's ridiculous how a student can earn huge load of cash without sacrificing much and releasing a single penny. |
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I asked for a loan to resolve some personal expenses and I still have about $1200 left, I have the intention to invest this money and with all the cryptocurrency uproar I do believe this new universe is probably the best place to invest this money, (if I'm wrong, let me know)
Now, I have two main ideas, either I purchase $1200 worth of bitcoins and hold on to them expecting a higher capitalization, or I invest in mining equipment to mine some altcoins.
I currently have a gaming rig with a R9 270X card, which, for mining purposes is profiting me about $20 a week.
What would you suggest me to do?
I suggest you pay off your loan before investing, although investing it may be profitable, it is extremely risky. You may end up asking for another loan if things go wrong. You have a gaming rig which you earn $20 a week, that seems to be a good start. Combine it with hard work, maybe a job or if not, try to join campaigns here in the forum and earn bitcoins or altcoins. Not only that you didn't put out cash, you also paid off your loans and more importantly(might happen) extra income that may give you what you want(buying bitcoin/buying mining equipment). |
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I am asking this just to see the different opinions of Bitcoin community about its long term potential
I know Bitcoin is actually strong enough and stable as well
But what do you think about it after 100 years ?
Although things usually don't last around a century, bitcoin may still be here. Since everything is rapidly innovating through technology, bitcoin is included. The only thing uncertain in the hundred years past would be its value, the amount of people who knows about it, and the amount of people who still invest in it. |
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First off, investing on bitcoin in general is risky. But holding bitcoin is in between safe and risky. Since we'll never know what surprise bitcoin may have. It may substantially explode tomorrow or even drop by another grand. With the prices at the moment, holding onto it is a bit hard, but have patience my friend, it will pay off.
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Banks would not disappear. That is seemingly impossible. If what they mean is the tangible banks, that may be plausible since almost everything is advancing through technology. Banks in the future may be just an online banking. Banks would not disappear cause not everyone has the access to the internet or some may just prefer going to banks than transacting online. And lastly if you say banks would disappear because of bitcoin, that is unlikely to happen. Since not everyone use, and have the knowledge in bitcoin.
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Yes it could happen but i doubt very much it will happen the short to medium term, to actually make bitcoin obsolete would be a achievement.
I strongly agree, this would take years or even decades(if possible) to catch up with bitcoin since bitcoin leads all other coins. But who knows right? Anything is possible here in crypto. |
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Because that's how bitcoin works. First off, it is extremely extremely volatile, meaning the value of it changes constantly. Second, no matter what happens, no matter how many price decrease bitcoin have, it always recover.
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once again the market is smiling upon everyone who has not yet invested in bitcoin and wanted to become a part of this community and hold some small stake in this scarce currency.
this smiling won't last for long though.
it is not too late, but still you have to invest what you can afford to lose. you can wait a little while to see when this dip is going to end before jumping in if you want to take risks, or you can just buy now since it is a dip.
I really plan on investing but for now, i would like to try doing campaigns. Am i too late? |
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Volatility of the cryptos depends on us, demand and supply. Also, since it's a decentralized cryptocurrency central bank can't regulate it, thus unable to control it if its value increases or decreases.
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Tha fact that bitcoin recovers after huge price decrease means a lot to me. It made me realize why it's still number 1 and why everyone would like to have some.
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Nothing really. If you thoroughly explained it to them and tried your best to explain it but he/she still don't like bitcoin. There's nothing you can do, just let them be and remember action speak louder than voice. Then it'll slowly sink in.
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Totally agree. Keep calm and hold on to it. Bitcoin will surely recover, but when people do sell them due to decreasing value, everyone would think that btc is going down and would literally decrease its value. Since we, the patrons would stop believing in btc.
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I think alts would pump higher this year. Eth is slowly catching up to btc and other alts are slowly making their names. I think it's so hard for some to get btc so they rely more on alts. Or alts are easier to acquire so they settle for alts.
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Of course it's good, having more people in this community means more people believes in bitcoin. Having more people who trust in bitcoin results to increasing its value
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I don't think alt coins would die if ever bitcoins would die. Since bitcoin is like any other defending sports champion, when defeated(dies) other competing altcoins would compete who would rise on top.
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I myself don't really know what are the in's and out's of crypto world. But explaining it to them is quite difficult, try explaining them on how money works, and how important it is in the near future. If they start to get interested slowly introduce btc.
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I don't think alt coins can stand against bitcoins but since we do not know what the future holds, we may not know if it can surpass or go against btc. Let's wait and be patient maybe in the near future, alt coins may catch up to btc.
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Best way to earn bitcoin is to mine it. But mining it would be very hard for some since it needs a good gpu to get some. But the process is very easy, you'll just sit and wait.
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We supported bitcoin but it's really hard to acquire. Having altcoin is okay, but having bitcoins ehile having bitcoin makes it better.
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Eliminating unemployment is impossible. Maybe lessen them by a good bunch is enough. Some people wants to do everything to earn income, but some people just like sitting around, lazy from doing work. But who doesn't like to earn? Being involved in cryptocurrency may seem easy, but if you are unemployed and broke, acquiring a smart phone and internet connection may be hard. I tried to help someone and introduced him to this world but he said he can't because it doesn't pay off quickly (doing signature campaign) plus he don't have internet connection. Btw I'm from the Philippines.
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