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The have been an increased trend by speculator's and that has greatly influence the price of bitcoin in recent time, the fluctuations in bitcoin price in the exchange market is part of the nature of bitcoin. that is what make bitcoin volatile, infact volatility is the spices in cryptocurrencies market when the price goes down people sell and buyers buy in cheap price and when the price goes up they sell and make gain in that way now investors come into bitcoin. I believe after this holiday period the price of bitcoin will go up to 250% again.
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It depends on the country you are, like in my country there are so many way to cash out you bitcoin and there is an application am using presently call remita on this site you will have to transfer your bitcoin into you remits account and after that you signifying the amount you want to exchange and after that the remits is just an escrow where buyers and sellers meat the buy send the money into you bank account and you send the bitcoin to the buyer so easy and safe. And some other people sell they bitcoin face to face you go to the exchange office you send the amount you want to sell and the money is there by transferred to your bank account. Goodluck
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And the wait is officially over! The worst news in this year is Bitcoin is Totally illegal in Bangladesh. If someone trade bitcoin then he will be punish by police in Jail! What should we do now, Guys?  Well that is a very sad news coming from Bangladesh if this information is true then the government has totally lost it because this is just the bigining if illegal use of bitcoin, what the government should know is that bitcoin is decentralized and at that it can not be ban by any government or institution. As long as there is internet connection in the country bitcoin activities will still take place non stop, even you giving us this information on this platform show the government inability to interfere in bitcoin activities. What the government should do is to embrace bitcoin the drive a mean for bitcoin to be regulated and tax. |
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Bitcoin will have a great face lift if well known company like Amazon will accept bitcoin as their payment method, before now I have cone across some threads in bitcointalk that if related to this and some rumors going around that Amazon is already accepting bitcoin. This speculation and rumors can only be believed if only Amazon can come out to issue an official statement concerning this, I read an article about how Amazon is already working toward accepting cryptocurrencies and inline with that their have bought three domain which are crypto related. So very soon something good will come out.
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Well is up to you to decide either to sell it or hold it, but to be very Frank with you bitcoin is an investment and a great assets and you great grand children will thank you for saving for they financial future. If you sell you 0.05 Worth of bitcoin because of this present slide fall in price, what you have done is panic selling which is very dangerous in investment because bitcoin price will rise very soon in fact as at the time of writing this comment the price is way above $14,234k which is a very good sign.
Bitcoin is the mother of all cryptocurrencies there is no Alt coins you can invest in that will be profitable compared to bitcoin.
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We are entering an era of multiple digital currencies, and many of them will survive. Bitcoin is certain to be one of them, but it can't be number one for every factor. Where do you think Bitcoin will stay as number 1 - Store of value
- Services in addition to simple money transfer
- Convenience
- Security
- Investment/speculation
- Safe transfer speed
- Privacy
- Freedom from globalist control
- Other
When we say bitcoin is number 1 among the rest what that simply mean is that bitcoin is the mother of all other cryptocurrencies, because bitcoin is the first crypto to be introduced before others came onboard. And bitcoin is the best in term of high technology and hard to be hacked, and high speed in transactions it very decentralized that is there is no interference from any body not even the inventor of bitcoin ever interfere in it operations but is not so with other alt coin. Bitcoin is an investment and it value is always increasing, the list can go on and on but let me just stop here. |
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Bitcoin is no longer a hidden digital currency in this time and many well to do individuals are very much aware of bitcoin existence, and the billionaire's are the one that even have all it take to take advantage of the the potential imbedded in bitcoin. The billionaire's has the money to invest in bitcoin and even forget it there for a very long period of time since bitcoin is an assets they can invest in it for future use. In fact I believe that billionaire's are the highest investors in bitcoin at at this time.
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Hacking the bitcoin network is like a mission in impossible, the technology behind bitcoin is so secured to the point of making it almost impossible for any third party. To hack bitcoin you will need much money even more the the bitcoin itself and much intellectuality that is hard to fine this days. The only hacking we are hearing is that of individual account and wallet that always comes from the inability of the holder to protect his/her log in details or story your password and seeds in an online platform.
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Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class". This makes it important to understand what Bitcoin actually is before we try to describe it to others. We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money. My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted] Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted] Webster's Online Dictionary defines money as: - 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
- 2. Wealth reckoned in terms of money; "all his money is in real estate".
- 3. The official currency issued by a government or national bank; "he changed his money into francs".
- 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
- 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
- 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
[links omitted] [/list] I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice. But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money? I totally agrees with all the dictionaries definition of money given above, but what I don't agrees with is your conclusion that bitcoin is not money due to the fact that bitcoin purchases all the features that are listed in the dictionaries above. Bitcoin is use as a medium of exchange of goods and services, and bitcoin is also a store of value. The only feature bitcoin is lacking for now is the legal tender and with time bitcoin is going to be accepted as a legal tender. |
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In this recent time bitcoin transactions fees has been very high and has lead to so many users of bitcoin not being able to cope with the high transactions fees and optioning to other alt like the etheruem, the high transactions fees is as a result of high traffic congestion in the blockchains network. Many users are carrying out transactions at the same time and this has also lead to thousands of unconfirmed transactions in recent time. The high transactions fees will reduced gradually as time goes on and everything will be back to normal.
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Well is quiet unfortunate that we where all once newbies in bitcoin and hard made several mistake as you have listed some above, but the one that is not clear to me is the # 5 leaving money in electronic money floor, what do you really mean by that. And the point I want to add to it is wasting time doing faucets, getting scam due to our quest to get rich quick and storing our bitcoin in a wallet then loosing the wallet seed, panic selling as we are seeing now and our inability to carry out research about a cryptocurrency before selling our bitcoin to invest in it and at the end the coin turn out to be scam.
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The government is not too much against bitcoin because if government is thoroughly against bitcoin we will have seen bitcoin being ban since, What the government is doing is regulations and closing of some illegal operation of some bitcoin operators, and the bank is an institution of government who take order from the government so when the they kick against bitcoin the bank has to followi that order. And forks in the order hand have being speculating wrong speculation because bitcoin is taking over their market and at that they are always seeing bitcoin as an enemy.
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I don't totally agrees that the timing of SegWit2x is responsible for the downward movement of the price of bitcoin, so many factors has greatly contributed to to this the time of the year when most investors will like to cash out they bitcoin in other to enjoy the season with they live one.the challenges faced by the blockchains and mining farms that lead to thousands of unconfirms transactions and delay in transactions and also the panic selling has all contributed negatively to bitcoin price but nevertheless in as much as the price has not gone down below $10000k it still within the positive signal and bitcoin price will rise again very soon.
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The topic should be changed because the introduction to this post is different from the tittle of the topic, but nevertheless let me make a succinct contribution. The high transactions fee we are experiencing in bitcoin is as a result of some challenges witness by some big mining farms most especially the accident in China, and that is also responsible for the slow in confirmation of transactions there where no enough miners to conduct the high rate of transactions carried out in the bitcoin community. And back to ur tittle the year 2017 is term bitcoin year while 2018 will be bitcoin year of taking over the financial system.
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Just for future use, there is no time that is best for bitcoin every time is the right time to buy bitcoin as you can see bitcoin is very volatile in nature and at that the price is not stable but one thing for sure bitcoin is always increasing in value and price and at that any time you buy bitcoin you stands a chance to earn interest in the next minutes. So my advice is that you buy now since you have the means and wait for it to appreciate in price, I feel sorry for the lost of your 3 bitcoin in gambling thank God for the lesson learned.
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Bitcoin mean different thing to different people but to most of us bitcoin is and assets and in other to get the value for your assets you must measure it in monetary term, you are right if you say bitcoin is faith that is in your own opinion and to other person bitcoin is the life wire to a digital life and another again bitcoin is a means of paying for goods online life buying of software from Amazon and Microsoft. And again to many bitcoin is a currency which have to exchange into paper money for it usage.
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Bitcoin has greatly reduced unemployment, and also bitcoin has help to improve the financial life of most citizens in my country. I come from a 3rd world country where we are faced with high rate of unemployment problem which has lead many youths to option in to crimes but since the coming of bitcoin the unemployment rate has reduced drastically in the sense that many young and old that has the knowledge of bitcoin are now doing well for them self's now reducing the total dependence on the government to provide job after graduations now.
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Bitcoin cash is not and can never be compared to bitcoin itself, bitcoin cash to me is just the same as all other alt coin in the digital world what is even giving bitcoin cash the face lift is the similarity in name that it has with bitcoin. Bitcoin cash lack the backup to be compared to bitcoin and it potential is depending on bitcoin. Despite the fact that bitcoin cash has larger block size which give bitcoin cash the ability to stores and process more data at once that alone can't still compete with bitcoin in any way.
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Bitcoin will survive for long as the whole technology will, the power house of bitcoin is the technology behind it and at that bitcoin will only get better so people should zero they mind about the possibility of bitcoin going down to the grave soon. I believe bitcoin will leave beyond this our generation, and concerning the price of bitcoin just know that bitcoin is very volatile and at that no one can rightly predict it price as the chart move upward and downward it depends on the market demand.
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Rest goes to zero as well?
Which is kinda weird. Everything is measured in BTC. Which makes it the digital gold and bridge between $ (real world) anf crypto.
I dought if such thing as bitcoin going down to zero in the exchange market because bitcoin already has a record which no other can brake and bitcoin will always remain the mother of all cryptocurrencies. If the other cryptocurrencies aside bitcoin is measured by the the cap in bitcoin then any thing that is capable of affecting the value of bitcoin will automatically affects other cryptocurrencies, ALT depends on bitcoin for their overall growth because bitcoin is the brain behind their technology. |
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