It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Here in our country, bitcoin is currently the most used digital currency but some other digital currency is being raised like Gcash which is under a certain mobile network in the country. I see it is a threat to bitcoin knowing that Gcash is legal within the country while bitcoin is not yet. We should still believe thay bitcoin will stay on the top and get used by the most of the citizens within a certain country. |
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The risk in the virtual currency market is the risk of losing some or all of its capital when the investor performs the investment or virtual currency transaction. Identify the risks before conducting a transaction, helping them to know the specific loss rate in each case of investment will be how to, minimum and maximum how to decide the scale of investment, the first time investment, time of investment completion, and other relevant factors.
Everything you see right is a risk. Any time you can loose some money just because of a careless move and you can avoid all of that by being smart and wise with your decision. Trust no one easily for there are a lot of scammers and frauds right here waiting for a dumb mind to give them money at ease. Just know and understand what you are doing to avoid any unfortunate events. |
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This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Banks are just for keep your money safe!  Investing in the bank is very different with investing on bitcoin. When you are investing in the bank, there are some chances that your money won't grow that much since the growth there is very slow while when you are investing in bitcoin, there is a chance that your money will grow unexpectedly bigger than what you are expecting so choose investing on bitcoin rather than banks. |
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Dispelling Some of the Most Common Arguments Against Crypto
Once in a while, every crypto-enthusiast will run into somebody who is skeptical of the industry altogether. People like this usually have never invested before, or did once but lost their money. As somebody who cares about the field of cryptocurrency and has invested several times in the past, it can be mind-numbing and frustrating to hear the opinions of people who have only ever read headlines and soundbites regarding the topic.
Make note, it is reasonable to be skeptical of cryptocurrency and present some well-researched arguments against them, but the people being referred to here are those that know very little about the industry and have no noticeable desire to get acquainted with it.
Here are some of the most common arguments you will hear against cryptocurrency (either from people you know or from news outlets) and some simple responses to them.
“Cryptocurrency is a pyramid scheme.”
Occasionally, I will run into a person who claims that cryptocurrency (or more specifically bitcoin) is a pyramid scheme and that only those who were first to the market will be able to make a reasonable profit from it.
While it is true that the earliest adopters of coins like bitcoin and ether have seen the most significant increases in their profits – this does not make it a pyramid scheme. Pyramid schemes are structured so that subordinate investors must pay or hand over a percentage of earnings to a higher level investor. This is not the case with cryptocurrency— if you head to an exchange to buy a coin, it is possible you will be buying from somebody who is at the same level as you (i.e., they invested around the same time you did). This is not possible with pyramid schemes since the only way to make money is to recruit new members. With cryptocurrency, you can trade and exchange with new or old investors. Also note, the main aim of cryptocurrency is not necessarily to get new investors since the price of a coin does not exactly rise due to adoption. Positive news regarding programming updates, partnerships, and new features can also just as quickly raise the price of a coin.
“Cryptocurrency is only used to buy drugs and launder money.”
This statement is commonly used by media outlets as a way to discredit the entire industry and the technology behind it. The best way to refute this statement is to briefly explain the nature of the blockchain and the sheer level of transparency that cryptocurrency offers. Most people who do not know anything about the industry get the impression that using this currency automatically masks your identity and your movements.
Explain to them that most coins have a global database of transactions which can freely be viewed by anybody. This, alone, is enough to discourage people from laundering money and purchasing illicit substances since law enforcement, the IRS, and other government bodies can track purchases with more ease than fiat.
“There is no underlying. value”
This is a half-truth. While cryptocurrency does not rest its value on assets like gold or land, it instead derives value from its developers and its code. Arguably, this is similar to how legal tender derives its value from its government and laws. Similar to how a decision or press conference from the President can affect the price of USD, an announcement from a lead developer can affect the price of Litecoin.
“It is too late to make money.”
I have personally found this argument to be said by people who only know of one cryptocurrency: bitcoin. Generally, the easiest way to open their mind is to show them that CoinMarketCap actually lists over 1500 coins and tokens. Of course, only a fraction of them are worth investment, but it proves that the industry is expansive.
New coins and tokens are constantly entering the market, many of which shoot up in price significantly after a while. One coin that has not had a long history, but is valued highly, is Nano. The coin only came into existence in early 2017, but in the space of a little over a year it has risen to the 28th spot. The main reason for this is the team it has and the technology it runs on. Finding a new coin with a great set of programmers and impressive code can be one way of making money in the industry. Of course, it is not the only way. The much larger coins like bitcoin, ether, and monero are still considered good investments now— this is because people still think the technology is undervalued. If that is the case, then it certainly is not too late to make money.
Originally published at cryptodisrupt.com
We can't avoid the most of them and there will always be people like them who would hate bitcoin for some unreasonale reasons. The best thing we can do about them is to keep on showing them how real and helpful bitcoin is to our lives. We should keep on proving them wrong about bitcoin that it is never an investment scam because it has changed our lives a lot. |
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Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
I think there's a possibility that bitcoin will destroy the world but there's also possibility that it will not. The things you've mentioned can be solved by us humans through the improvement of our technology. When it comes to electricity, solar panels can be useful or hydroelectric sources can be a help too, anything can be solved by the technology so worry no more. |
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The current "crash" is caused by one bad "news" after another. A lot of them are the false or twisted truth.
For example, today, once again "China Full ban crypto". What the... Why is it causing another crash?? Why is it even "news"?
It was already banned in China back in September 2017. All trading platforms suspended trading in September. Anyone from China who still trade Crypto must be using foreign platforms. Sure, they reported that China added all crypto exchange sites to Great FireWall. So what? These people have VPNs! When I was in China, everyone who visits foreign sites use VPNs. Yes, China banned VPN as well a long time ago. So what? Everyone is still using it. Just like ignoring the traffic light is illegal in China, but at every intersection, you will see people ignore the red lights... the truth! Just because it is "illegal", does not mean no one will do it.
So just this (one) news of China banned Crypto, it was repeatedly used to crash the Crypto market (4 or 5 times). Do not fall for it!
1. Summer 2017, China banned ICO.
2. September 2017, China banned crypto trading.
3. November or December? China became unfriendly to crypto mining (Large-scale miners moved oversea already)
4. January 2018. China banned websites of foreign crypto exchanges. (VPN!!!)
5. Today, "China Full Ban Crypto"... (Really?)
So what is next?
"China really ban crypto"?
"China really full ban crypto"?
"China really really full ban crypto"[IMG]
"China will jail anyone who trades crypto"[IMG]
"China will execute anyone who trades crypto"?
"China will nuke every country who trade crypto"[IMG]??
Stop spreading this nonsense. What's done was already done in September 2017. Nothing has changed ever since. NOTHING really changed in the last 4~5 months.
Yellow journalism at its best.
Same goes for Korean and Indian news. South Korea did not really ban crypto. Just one guy wanted to ban it. It was not approved, nor implemented. So far they have only added regulations that people can no longer trade anonymously. So what? Didn't Coinbase, Kraken, Bittrex etc. US-based platforms all require our IDs and photos?
India also did not ban crypto. Just a minister made some unfriendly speech toward crypto. No real "ban" whatsoever.
From the look of it, someone or some groups are trying hard to make the prices go down. The sad thing is, people are falling for it. The same China "news" was used on 5 occasions to cause the market crash while nothing was really changed or happened. Korean news was used on at least 2 occasions.
The bottom line is, let's just ignore all the stupid "news". Use our brains. Not hearsay from yellow journalism. It is getting annoying to have every little "news" to impact the market price.
We can hear a lot of news about crypto but few of it are legit that's why we need to be careful on picking what we are going to believe. Bitcoin has been very popular all over the world and issues and criticisms are being made over it which affects the mindset of the investors and users of it so we should be careful on throwing out some news about it. |
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Recently, bitcoin has been showing steady growth. He slowly overcame the first resistance line of $ 10,000, now approaching a new line of$12,000. I see two options for further developments. 1. Bitcoin consolidates above 12000$ a sharp increase in prices that will allow Aldona to begin to move forward. 2. Bitcoin goes for correction to$ 9500 and breaks new heights with new forces. Here's my technical analysis chart. Who that thinks? https://www.tradingview.com/x/D9TGyKlY/Nobody can still conclude anything yet but I think bitcoin has a bright future ahead. Many people are already saying that bitcoin is about to end since its value is going down a lot these days but little did they know that there's still a possibility that bitcoin will recover or improve more than ever. Let us keep our hopes high on bitcoin and believe that things will get better soon. |
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I here and see that a lot of people are selling their altcoins for this reason or for that reason. In some cases I here that people are even spending their altcoins to buy Bitcoin. Now that one really has me confused. To me it's way to early to be selling your altcoins. It's like selling an original painting before it even gains in value or while it is still gaining in value. What smart investor does that unless they are selling out of fear or because they are desperate. For me I am holding all of my coins for now because it is way to early to even think about selling your altcoins; what say you?
So tell me, why are you selling your altscoins so soon?
I'm not doing any of that. I am not that kind of person who gets attracted so sudden by some bright things like a good price of altcoin then I will suddenly sell it all. I usually hold the most of it because I know the price can still go higher than ever which will benefit me more compared to what I will gain if I'll sell it too soon. People should stop doing that if they really want good profits. |
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I think Bitcoin is helpful to the economy because it helps the people, may they be employed or unemployed. It helps the people to be productive especially on their vacant times or when they are not working. Bitcoin is getting a lot if attention in many countriesnow because it really helps the people.
Maybe we are not noticing it that much but I think bitcoin helps the economy somehow. We should know that as soon as a person get rich, he would probably buy some expensive stuffs wherein those stuffs are taxed by the government and the tax will be going to the country's benefit. Another thing too is that bounty hunters often get their money that they've earned from bitcoin from the banks which is under the government and will end up adding up some help to the economy too. |
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This morning I saw an article where a guy made a simple calculation through Google trends about HODL strategy, and it showed that call to HODL used less and less from February of 2018. Popularity of word Bitcoin and crypto currency is also falling down. Why it is so? Do not people believe in Bitcoin and it's bright future anymore? No matter on such tend I am going to HODL my founds till bitcoin will not come back to 20k$  Many people will quit holding knowing that the price of bitcoin has been pretty steady lately and it's kind of alarming and worrysome to see bitcoin being like this. Though that's the thing, if you still think bitcoin's value will rise once again then you should keep on holding and believing that things would get better soon. It may either end up badly or better since bitcoin's future is quite unpredictable. |
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Hello guys, To me, it seems pretty strange that people actually continues buying btc now... I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now? I don't get it. Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount  ). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?). The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue. An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease. Other issues: - security. Not a single company was able to provide a "professional" service. Bitcoin-24 has a serious problem ( https://bitcointalk.org/index.php?topic=174600.0 ). Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... The hacks are countless (you can see new topics about that every day ...). I can't see anything positive about btc, and still can't get why people are buying it. Can any captain obvious explains? Thanks. Mainly because they are still believing that stuffs right here will keep on getting better and it will make their life more better as they keep on earning from their investment on it. Many people stopped believing on bitcoin but I think they will end up regretting it soon of ever bitcoin's future get brighter. Hoping is not a bad thing but if things aren't going the way you want to, stopping is not a bad thing either. |
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My answer to the principle is: NO
Bitcoin is money, the value of money is built on confidence, tradition and security, attributes that Bitcoin offers easily. The analogy between Bitcoin and social networks is completely incorrect, people think that Bitcoin is an myspace that will be replaced by facebook. It turns out that Bitcoin is money and not a social network, so this comparison is completely wrong.
Most of mankind's wealth resides in vaults for hundreds of years, so the circulating medium is derisory close to it. Why are we going to need fast, no-fee coins if we can use paper money and banks? Bitcoin's purpose is to be a safe asset, scarce and superior to gold. What is behind Bitcoin is the fact that no politician can steal you through taxes or inflation, there is nothing safer than Blockchain and Bitcoin. So far no technologically superior currency has emerged to Bitcoin to the point of provoking an abyss between technologies and will hardly emerge.
BUY BITCOIN TODAY AND ALWAYS.
There's a possibility but no one know still when will it happen because as of today, bitcoin is still going hard amidst all the crisis going on with it now. Many people think bitcoin is about to end but I don't think about any of that knowing that bitcoin has done great things already and a simple dump wouldn't cause its extinction. Let us keep on believing and buying bitcoin and it will surely pay off in the future. |
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For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?
Bitcoin has became the big thing already for a long time and it is the biggest thing here in the crypto world today. Bitcoin is the pioneer among all the other existing cryptocurrency wherein it has the most number of investor and the most expensive value. People should keep on buying bitcoin because it will pay off sooner as bitcoin's value starts rising once again. |
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Stay calm and don't panic. Always remember that bitcoin's value is very volatile and the sudden dump that is happening is part of the adjustments bitcoin is currently making. Bitcoin's fell down hard before bit still it managed to get back up and rise once again making all those people who held their bitcoin for a long time recieve the prize they are longing for, bitcoin became more beneficial on from those times too. |
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Maybe it's all about dedication and perseverance. No matter what kind of person you are, if you really want to understand and earn from bitcoin, you should give time and effort to get to know it more. People should pay attention too on studying bitcoin so that they can make the most of it and avoid any trouble that may happen. Just be smart and wise always here and don't enter it unless you're knowledgeable already. |
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Bitcoin is the most famous and the no one crypto currency today. It hold the highest market cap in crypto industry. Also it use very advanced and secured technology, Block chain to operate. Lots of people's use bitcoin as a investment factor. This cause to maximize the capital of Bitcoin. But how long Bitcoin will survive in this industry ? Because lot's of government try to manipulate and control the crypto currency industry via introducing new regulation. As a country some one can do vast harm to bitcoin. We saw some of in past. If Bitcoin fail in this industry it will be a biggest financial crisis in this century.
Bitcoin has been in the industry for a very long time already and we can even consider it as a pioneer on this industry that was built through all the support of the investors of bitcoin. Bitcoin won't flop down that easy, we should expect more from it knowing that a lot of surprises was shown by it many times already before. It will keep on surviving and will prove us more that it deserves being on top. |
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http://www.cnbc.com/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.htmlHave you heard of the story of a 12 year old kid who wagered with his mom that if he will be a millionaire at age 18 he will not go to college. To his mothers surprise he is now a millionaire and never went to college. His secret he bought bitcoin at 12$ with a 1000 $ gift from his grandmother. If we also dream of getting rich in the future it is now time to invest in bitcoins. Many said that we will be experiencing bubbles more often, that is true but we have survived it and still bitcoin keeps moving on. If we want to get rich invest in bitcoins today. The price of bitcoin today is at 2600$ and moving up but imagine its value 5 to 10 years from now. Things are not so easy anymore nowadays considering the fact that the value of bitcoin has been changing a lot. If you really want to become a billionaire someday, you should be smart and wise with your investment so that you can make the most of it in the future. Just keep your hopes high over bitcoin and it will give you all the desires of your heart. |
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Why invest in altcoin when you can invest in real estate, stock market?
Just like bitcoin, altcoins also is a good investment. We cannot rely on investing on bitcoin alone our whole life, we should try investing too on other coins because it may happen that in the future, bitcoin will fall down and some altcoins will arise. Let us be smart and wise in investing so that we can make the most from it and always support both altcoins and bitcoin for the best. |
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Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?
We are all looking forward to that kind of future but I think that kind of living would result to less interactions with people around you which can affect us negatively. We should atleast appreciate still the presence of fiat wherein it made us smart and socializing to other from the past. Having a cashless society can be a good thing but we should still look back on where we all started. |
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Bitcoin is decentralized so that whoever you are from wherever you are rich or poor, you are free to use bitcoin for any purpose. Bitcoin is freely used for anyone. anywhere
What is your response with this opinion?
We all know how bitcoin works and many people are already using it as an opportunity to earn money or escape poverty. As long as you have the knowledge on how you can earn in here, you will get what you're longing for. Bitcoin does not reward you according to your level in society. It rewards you on what you deserve depending on the work you've given to get what you have now. |
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