I beg to disagree. With that kind of pessimistic attitude, then losing all of your investments would be the next thing that would happen. It is relatively true that bitcoin prices are directly proportional to altcoins prices in the market but you have to consider some factors also (i.e. some altcoins are regaining/increasing their value due to bitcoin's fall). Not to mention, rather than complaining about the fall of bitcoin, take this as an opportunity to acquire more coins for short-term investments. Like what I said, that kind of mindset would get you nowhere.


I see this technique as the 'happy-go-lucky' kind of attitude. Remember that we are dealing with thousands/millions of dollars on investments. Even the smallest increase/decrease in the price margin would mean thousands of dollars wasted. But if you treat your investments as the money that you are willing to lose, then I suggest that you just let time do its trick!

I know someone who trades cryptocurrencies for a living, but he also has other business aside from this aspect. As far as I know, he earns large amounts of profits weekly but the amount of bitcoin he risks is otherworldly. In my opinion, here are some advantages and disadvantages of trading as your main source of income:

ADVANTAGES:

• You have the potential of earning large amounts of $$$ in a short-amount of time depending on the amount that you are willing to risks and the right circumstances;
• Trading cryptocurrencies have a broad spectrum of choices, as there are many altcoins in the market for utilisation; and
• The amount that you are willing to risk is directly proportional to your expected earnings.

DISADVANTAGES:

• The nature of your income involves risk. The system can also be called a 'high-risk, high-reward' option as both extremes may be applicable;
• Relying on trading as your sole income may yield inconsistent results as it varies depending on the price of bitcoin itself and luck;
• Once countries implement a law prejudicial to the existence of cryptocurrencies, expect your earnings to be affected; and
• You need to at least have a minimum amount of bitcoin to risk, unlike other methods does not need any investment.

Adapting a currency from fiat to a digitalised format would require some time as different countries would be needed to adjust into this system, considering that developed and developing countries have their own technological advancements. Countries who are on the underdeveloped side are on a disadvantage, as they would require a system wherein people would have access to internet and a form of gadget that would allow them to transact digitally. Compared to countries who are on the developed side, their current state would allow such implementation.

Though it may be ideal, I do not see its implementation in the near future as countries would be needed to adapt into this mechanism. Considering also the economic discrepancies present, I doubt that they would prioritize such currency digitally.

The number of altcoins in the market is immaterial to the decrease on the prices of bitcoin. As was shown on this article: https://cointelegraph.com/news/btc-falls-below-8000-again-after-week-of-mixed-signals , it was mainly due to an individual selling large amounts of bitcoins in the market. Surprisingly, even prices of ETH and Ripple also decreased following bitcoin's turmoil.
This article: https://www.theguardian.com/technology/2018/mar/18/cryptocurrency-bitcoin-irs-tax also explained that investors in bitcoin faced hefty tax bills since the Internal Revenue Service mentioned that 'anything purchased with digital currency is taxable'. Maybe the government right now is being strict in terms of implementations of tax for regulations.

The best way to share your knowledge is by word-of-mouth to your relatives, friends, peers, or strangers that are curious about cryptocurrencies. Though social media played an important role of spreading the existence of bitcoin (as compared to 2012 when only a few knew its existence), creating forums or organising a discussion about cryptocurrency101 may also contribute to its widespread of news. Lastly, bitcoin forums (such as this one) can heavily influence a lot of traders/investors into investing into bitcoin that may potentially bring a win-win situation among the investor and the market.


Definitely agree. If you force something into someone who's not interested about the subject matter, then you are just wasting your time in it. Even if you explain to them the mechanism on how the blockchain technology works on cryptocurrencies and they just listen for the sake of it, then your efforts are wasted. But I know some people who invested into bitcoin without knowing its background and how its mechanism functions into the society.

Personally, I already expect price drops to happen due to bitcoin's volatility but I cannot help but to feel nervous and anxious about my investments. What I do, I risk 50% of my bitcoins by not selling them while I sell the other half of my investments above the price I initially invested them on. If it came to a point that the initial price I invested my bitcoins are below, then I just let time do its magic by waiting.


Considering that there has been a consistent decrease on its price over the past weeks, we might see its price being stable at around the $8000-$9000 mark depending on the circumstances happening. With this, we must accept that price are really decreasing on a steady pace. It depends now on our investment goals whether we should sell/acquire more depending on our financial status.

I disagree. Even rich people who have a good life, with high-self esteem and without any psychological issues can get addicted to gambling. I think you do not have any idea on how addiction works. Not to mention, those factors that you mentioned contribute to their addiction in gambling since they have the means of engaging into such activity.


Engaging into gambling in a regular basis is bad, considering that you play at least once day and 7 times a week. I've been stressing out that the only way to cure your addiction is by knowing/determining your limits. One must have self-control over their addiction in order to outweigh it with your priorities as a respectable individual.

Well there are a lot of ways for you to recover your losses with your investments. Here are some of my suggestions on how you can at least mitigate the damages incurred:

• By working (assuming you have a stable job) in your company for your monthly wages;
• By exhausting other means in the forum under the marketplace (i.e doing services or participating into campaign signature) for alternative income;
• By waiting and letting time mature the value of your investments (assuming your goal is for long-term);
• By investing short-term on bitcoin and cashing-out when the price skyrockets (high-risk, high-reward); and
• By gambling your altcoins (I highly disapprove of this method).

Just a quick tip: Never sell your altcoins on a price lower than your initial investments. Even if you incurred losses in the process, you need to understand that the movement of prices of cryptocurrencies are volatile. Meaning, its value changes everyday. Also, this also depends on your financial status as an investor. If you think that by selling all of your altcoins is paramount to your daily needs, then why hesitate? But if you just want to at least mitigate the damage, I suggest that you sell ~50% of it and try to remain some for the future.

Though it maybe inaccurate, but I see bitcoin redeeming its price maybe 2-3 months from now depending on the circumstances happening in the world. There are a lot of factors to consider on why prices are decreasing, such as:

• Country prohibitions and world-wide implementation of laws prejudicial to cryptocurrencies;
• Whales suddenly manipulating the prices via cashing-out most of their bitcoins;
• Large trading companies releasing statements that cause confusion and doubt to the public into investing into bitcoin; and
• Opinions of famous billionaires that are against bitcoin.

Those are some of the factors on why bitcoin prices are volatile. Regarding the question on whether you should sell your coins, it depends on your goal as an investor but personally you should never sell your bitcoins on a price where you initially invested it on.

Just chilling and acquiring more bitcoin. Every time the market is down, I always make it a point to at least acquire some bitcoins since this situation is pretty common. Though it might be risky, I still consider this as an opportunity to earn short-term profit. Maybe like 2-3 months from now, its price might recover slowly. If you are having any doubts whether to sell or to hold, just check the price history of bitcoin and that might give you the answer regarding your problem.


I agree. Though it does not need to be medical, if you need the money for an emergency then selling your bitcoins would be the obvious choice. Situations like these are the best time to acquire bitcoins for short/long-term goal.

Technically, what we do everyday is a gamble. Investing involves and individual risking his/her resources in the right circumstances and then withdrawing it when the right time comes. What makes it difference is we have all the factors to consider and the knowledge to know WHEN to withdraw every investment. Same as trading; people trade and risk their resources for higher profits but they have the power to control their risk and limit the chances of losing every investment. What makes these different from gambling is, even if you have all the techniques and tricks, if the odds are against you then you are surely bound to lose.


They may be different in nature but all involves something that can be lost and the presence of risk. Anyone can gamble as long as they have the right amount of resources but not everyone can do trading as it involves some techniques and knowledge that can potentially lower the risk of you losing your investments, unlike gambling.

It really depends on the stand-point of a country with regards to cryptocurrency in general. Most countries in Asia, like Japan, Singapore, Malaysia, Philippines see bitcoin as something that is beneficial to the economy as it provides alternative income to the public and makes the economy relatively liquid. Considering that Japan has taken measures into implementing such developments with bitcoin, maybe in the future some countries would embrace cryptocurrency as an alternative payment to some services/products.

You need to also understand on why countries prohibit the use of such cryptocurrency in the first place. Due to its volatile and decentralised nature, the government of some countries in Asia warn individuals into investing their money as it may turn negatively in the future. Also, the lack of government regulation causes doubt among the government and being tax-free means that the government has really no control over it.

Username: qwertyup23
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1022860;sa=summary
Rank: Senior Member
Current Post Count: 698
BTC Address: 3BMD1MTeBBm1cJDfYYrMWKxt7YZHtHcwL3

Hope to participate once again to this campaign sir Hilarious!

Cryptocurrencies, in general, have tremendously helped and supported various individuals into earning income faster as compared to other investment mechanisms such as gold investments, bank deposits, and stocks. Though investing into it may be considered as a 'high-risk, high-reward' factor, we still cannot deny its wonders due to its high volatile nature.

Personally as a student, the forum itself has helped me into earning alternative income. The convenience it provides to students like me is impeccable, as it eliminates the purpose of me having to work part-time in a retail shop by utilising such campaign signatures. The good thing is, I earn passive income while contributing to the forum! A win-win situation created by bitcoin's existence and I do believe that this would also cater to individuals in all aspects in the society.

True enough. With the intervention of the government on bitcoin (considering that it is the reigning cryptocurrency at the moment), they will try to regulate and control the number of bitcoins in the market, thus manipulating the price. This also may lead its price being less-volatile than before and relatively more controlled. Though there may be some negative implications, embracing bitcoin by the government may also bring forth a development that may enhance its system under the blockchain technology. Who knows, maybe the government has kept some secrets that may soon utilise it for bitcoin's development.

Sub-consciously, we are already embracing the idea of cryptocurrencies in our life. The fact that most individuals who invest are persuaded into the hype of media with regards to bitcoin, we are already accepting it as an alternative income. In my life, I treat bitcoin as an alternative income as it provides me the means of acquiring money without having to work part-time. This greatly helps me as it does not compromise my time for my studies as compared to working in a retail store, etc.


10-15 years from now, I see cryptocurrency as a gateway towards the idealistic view of having a digitalised form of currency. Since these cryptocurrencies use the blockchain technology for transactions, maybe in the inevitable future countries would start adapting and seeing it as an alternative income. Though bitcoin might not be the income used for this idea, it may be the one that will inspire countries into developing a much faster and reliable from of online payment.

I agree. With that kind of attitude, that would gradually be your downfall as a responsible individual. I already witnessed personally some of my friends who were once millionaires but turned out to be bankrupt as they have been gambling on a daily basis. Not to mention, with the attitude of not caring about your winnings/losings tell me that you use it for entertainment purposes (which I think is more dangerous).


At least you have the self-control of not spending an extra dime whenever you gamble. Some gambling sites tend to manipulate users into giving free chips as it convinces you to buy more. But if you play smart by using only the free-stuff then I doubt that addiction will hit you.

There are a lot of things to consider when legalising a something that cannot be regulated by the government. Have you heard of the 'silk road case' wherein people used bitcoin as a gateway under the dark web for acquiring illegal goods? Due to bitcoin's decentralised nature, anonymity in transactions is inherent. The government fears that it might be abused and gradually contribute to their criminal rate.
As for the economic aspect, personally I see it as boon rather than a bane. I do not understand on why the government prohibits bitcoin when it can actually support individuals of all aspects in terms of acquiring alternative income.

The short answer is: NO.
I would not want to risk most of my properties being liquidated for the purpose of acquiring bitcoin as it lacks collateral and security. Even though the profit returns on investing into cryptocurrency (bitcoin to be specific) seems to be high as compared to other investment mechanisms, I would rather use a partial of my monthly income into acquiring bitcoin rather than using my properties which are relatively higher in value.


Well investing is also gambling, in a way that you are risking your assets for a return of profits in the future. I recommend that instead of liquidating your properties and investing it into bitcoin alone, you should try diversifying it by considering other investment types such as stocks, golds, bank deposits in order to reduce the chance of losing everything and to maximise profits.

I highly doubt that a country would make bitcoin as its main currency. Remember that fiat/paper money has no value and it is only a representation of each country's gold reserve (which determines its value). Since bitcoin is highly volatile and its price is determinable upon the market volume, law of demand and supply, etc. this would create conflict upon a country's economic standing.

Second, adapting a digitalised form of payment would require everyone to at least have bitcoin and a stable internet connection. Since there are economic discrepancies among developed countries vis-a-vis developing countries and underdeveloped countries, this would too arise a conflict in international market tradings and other relevant stuff.


Thank you for pointing that out. Just to add, a country cannot recognize a currency which is being prohibited by some countries. It must be widely accepted worldwide and the government must support its actual implementation.