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Indeed, you can buy a lot of things using Bitcoin but it also depends on where you came from. That's a great news for those who are in the United States and Japan. From where I came from, Bitcoin is not yet legalized but we are starting to have some establishments that accepts Bitcoin as payment for their food, products, services, flights even accommodations. We can also use it for online shopping as one of the payments methods.
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I don't think you're late for the party. Matter of fact, I don't think anyone is. Sure, the value of BTC may have changed over the years but that doesn't mean we can lose interest in it. Just review the market trends and ensure that you're on top of your game, you'll be fine.
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I feel unable to do daily trading in market bitcoin / cryptocurrency, I want to invest my money. please give me advise on what you think is good about:
1. bank deposits
2. Lending cryptocurrency
3. Mining
4. Gold assets
5. Property
6. other ideas ...
your response will be very useful for me, and maybe some visitors who read this thread. and thank you for your comments.
Here are my suggestions: 1. Bank deposits - a bit slow in terms of garnering interest, but I will still suggest this. 2. Lending Cryptos - as long as you're sure you can trust whoever you'll lend it to, you can give this a go. Moreover, please be wary that since you're dealing with crypto's, practically anyone can run away with it since there's no regulation or legal body protecting it (IMHO). 3. Mining - if you can shell out the dough, you can probably go for this. Just think about the major increase in your utility bill. 4. Property - One of the best ideas, just make sure you're checking out prime lots or probably areas where the potential to sell is high. 5. Other Ideas - probably start your own business. I intentionally left out Gold Assets as I'm not that familiar with how it works. Hope these help you out. |
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It is really hard to predict what will happen in the future especially in the crypto currency world but I would like to think that alt coins really need to level up their games, prove more and give good returns to their investors because As I am seeing now, Bitcoin is a really tough one to beat, its price value, its technology, its rapidly growing community, more and more people, businesses and countries are adapting to it and its technology so it is going to be a tough one even to be just a competitor of Bitcoin.
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I don't think so, Bitcoin is still on its early years and there is more to it in the coming years. It is just the right time for you to invest in Bitcoin since the price is a bit down nowadays, go ahead and take advantage of it. Take it and be in the game already, the next thing you know is that the price is going back up again.
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Yes, Keeping and holding your bitcoins is the best option we have as of the moment that the market is red. Stay calm and just patiently wait for the prices to go up again soon, we cannot afford to lose some good amount of profit just because the market price is low, no one wants that and knowing Bitcoin the prices will soon rise again, don't worry.
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Look around you, any type of currency can be used for illegal activities and not just the USD. Yeah, the almighty USD would probably be king in terms of usage for illegal acts but that's looking at the bigger picture. If you check news around the world, you'll see people buying drugs from their local peddler or even hiring someone to murder someone. On a granular level, you'll see that local currency is used to fund these illegal activities. So singling out the USD would be a a bit of a stretch as it's not the only one used.
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In my opinion, taxes should not apply to crypto transactions. One of the reasons why people trade or transact using crypto's would be due to it being untraceable and anonymous. Second, it's digital. The only problem will come around if we're not careful and smart about cashing out. Then again, there are some exchanges that can do that for us. Also, I don't think that a lot of people (if not all) will probably be not that comfortable in having crypto's be centralized or regulated.
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Pfft, I don't think the government can kill crypto. Over the past couple of months, crypto's been hit hard by what I would say black propaganda making people lose interest in it which in turn has caused a downslide. Governments will try their best to regulate or centralize it. From what I understand, one way of doing it would be to adopt it then leverage on the adoption to have some control over it. However, things as they are, crypto's will not die nor will it be killed.
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I believe that Bitcoin has a lot of advantages over all other coins, first is that it has proven and tested that its price and value will always rise up after every fall. Its community is growing stronger rapidly, its decentralized nature and its technology, the block chain technology. These are only to name a few, I am sure Bitcoin users, enthusiasts and investors still have a lot more to add to the list.
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I agree with this, it will make your life easier. In the crypto world if you listen to false news or let it affect you, you might end up losing more that you can imagine, False news are very rampant in this day and age, especially about Bitcoin, so you have to be responsible and smart enough to know if it is true or not, don't believe right away. Rumors and fake news are things that we should always be careful of since it can affect people's trust and belief in Bitcoin. Read, research, observe, we have to have our eyes wide open and not just eat whatever the media or the internet will feed us.
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It is not really against it, maybe they are not just open to adapt to new technology. Some people doesn't believe on things that are intangible that's why they are not into digital currency, they want things with value that they can hold physically like, fiat money, gold, land, etc. There are others who are really not friendly to Bitcoin because it is a threat to their businesses like banks, money transfers and other financial institutions.
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Investing in bitcoin for my family's future? Doesn't sound like a bad idea. I just won't let that be my only means though, I will also save fiat for them. Probably get a good educational plan for my kid or some other beneficial investments like lots where they can probably build a new home or sell it if they need to. It's always wise to think about the future as it helps you prepare for the storm if it comes.
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While bitcoin does provide a good amount of cash, I wouldn't go as far as say it can be a source of income. For one, it's inconsistent in terms of value. Yes, it does have the best value as of the moment but in itself, check the historical data. It has its ups and downs. Second, it cannot provide a steady inflow of cash. Unlike our normal salaries wherein we get paid bi-monthly or monthly or weekly, BTC's actual value is more like a waiting game in my opinion. So to summarize, BTC's a good source of cash. . .but I wouldn't say I'll make it my primary source of income.
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Personally, I know there are positive and negatives of using Bitcoin but I can say that some of the reasons why Bitcoin is better than cash are as follows
Decentralized- no one is in control of your money but you.
Tranparency - every transaction is tranparent, you can see it in the ledger
Easy to Move - you can transfer anytime, anywhere in the world, without any amount limit
Travelling money - safe and easy to use when travelling, no need to exchange on different fiat currency and no limits of the amount you can carry around.
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Personally I use my Bitcoins as currency and asset. As currency, I can shop online, book and purchase flights, pay for food, products, services even hotel accommodations anywhere at anytime of the day, As an asset i can use it for trading as well as for investment.
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We are seeing a price drop currently so you better be ready to buy some now. It ios one of the strategies I follow, buy when the market is red so the prices are down, it is like a mall sale, buying your coins for a lower price. Hold it for some time to ensure that you will be able to sell it for a higher price and get greater profit.  Stop waiting and buy now, Good luck! |
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Hypothetically, I have two reasons in mind if ever Bitcoin is going to die, first is the world wide ban against it, as in the governments will unite to ensure that it will not be use at all, which very unlikely to happen since Bitcoin has such good things to give. The second one is that no demand, as in no one has interest on it anymore, which is also unlikely to happen since the Bitcoin community is rapidly growing.
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