|
volatility plays a major role why bitcoin is behaving these past few days, even though the price today is at its low, this is just temporary, its just a matter of days or even hours bitcoin will go up again, the law of supplies and demand also can be consider, if the price is low, maybe because there are plenty of unused or idle supplies of bitcoin in the market. these low trend can be an opportunity to buy more bitcoin and so high trend follows.
|
|
|
|
I just noticed some questions about this topic so I listed some seven reasons why people want to have a cryptocurrency transaction rather than fiat.
1. INCOGNITO. this is the main reason why people use it. You cannot trace crypto transaction and its perfect from hiding.
2. CONVINIENCE. people nowadays are so lazy that they want to have transaction while seated comfortably on their home. With just one click , crypto can be transferred as payment to whatever they want. Well, who doesnt want that anyway.
3. TREND. basically, people want to try something new, something not ordinary , something innovative and if it was used by all their friends, they want to use it also.
4. ILLEGAL. yes, i dont want to include this but i saw many topics about this also. If you want to buy on black market or an illegal item, your transaction should not be traced as i said on our first reason so Crypto will help you hide on cops but not forever.
5. MODE OF PAYMENT. this is where some people buy an item usually using the profit they had on investing bitcoin even just holding. Ex. If you have 1btc and after a month it becomes 1.5 btc and you want to buy an item that cost 0.005btc and crypto is accepted as a mode of payment, you will use it ofcourse rather than fiat.
6. TECHY. it seems that techy people using cryptocurrency as a mode of payment see themselves as going with the flow of technology considering that bitcoin is the new technology of currency for the new generation.
7. SHOW OFF. whether we admit it or not, some people use cryptocurrency just to make their status up. Telling their friends about how wealthy they are and keep boasting for their ego.
This is what i noticed. So which one are you?
honestly none of those reasons are my personal reason, though all of them are valid and true, i have joined bitcoin for the purpose of earning and hoping to be my part time job. those reasons you stated are somewhat not to deep but as i said it is legit. |
|
|
|
|
yes, there are some drawbacks like since it is a government project, there would be some issues on anonymity of users and holders, they can easily tracked down the users and taxed them with a pretty much fees. but in the other side, since it is from the govt, there would be no issues on legalities and legitimacy of its ICOs. just like when we first knew about bitcoin, we took the risk, maybe it will be the same with govt coins. its your choice to venture or not.
|
|
|
|
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.
the risk is given, once you venture on any business comes with great risk, it is a gamble, you are right, before we dive in, we should test the waters, recently almost all scams and dubious exchanges are all tagged, thanks to the people who tested it and loose, that is how it goes we can never know the risk until we are scammed, it is a digital world. |
|
|
|
Never , It will never happened, You should now the difference between the main object and an alternative. Money or the local legal tender of certain country is the main object while crypto same as any other forms of stocks bond or investment is an alternative. Now if you will make the money gone , how can we know the values of those investments or even cryptos. And another thing is not everyone knows how to use computer or gadgets so traditional money is always important. To make money disappear it requires all nations to be rich which will never be.
i got your point, fiats makes the value of crypto. without its counterpart, then it will be deemed wothless, besides, we still need fiats to buy small purchases that crypto cannot buy, considering the cost of conversion fees, if fiats will disappear, crypto will not be accessible by poor people since common people are at ease with tangible currencies rather that intangible or digital counterparts. |
|
|
|
The society is divided into haves and haves not, poor people are getting more poorer and rich people are getting more richer, Value of money is decreasing and inflation is increasing, Many people around the globe suffer death mostly Africa and asia because hunger and unable to fulfill basic human needs.
What actions should governments need to take and how individuals can contribute?
seriously? you are putting your faith in governments? for all we know, they are the one who put their people in that situation, poor people is a sign of poor governance, bitcoin cannot reverse this status quo but may help in some ways like donations from big holders and rich traders in bitcoins, even small time traders can help by donating bitcoins or fiats. there are some sites that accepts bitcoin donations like bitgiv.com |
|
|
|
|
i think there is no big or small loss in bitcoin, depending on how much your capital is, my loss was a whole payment on a signature campain i joined, i was trying to convert it but to no luck, it was all forfeited. too bad for the whole 4 weeks of payments, all wasted.
|
|
|
|
If there is a charity accepting bitcoins do you prefer to give some of yours  Me: I will if there is, but for now I don't have yet.  EDITED:Yeah it a hassle for now. Another question: But what if there is fiat will be disappear in the future and crypto will conquered the world and all payment transactions will be on blockchain system? So is this applicable right? first of all, it is not possible whether fiats will no longer exist in the future, we still need it for trading purposes, but given the example, if crypto are the only existing mode of transaction, i think that will be the same as what we are experiencing on fiats right now, its just that the currency will be crypto instead of dollars or any fiats. |
|
|
|
I have a job, and I'm quite tired of working as an employee. I was thinking if I can make my btc earnings a start for a business, what do you think?
Actually it was not enough to start a business but it was decent enough for you to use on your daily needs, now a days most of the people are leaving corporate world in order to focus on trading in the market because in this way they can have more income. that is true. i have a friend also who has given up his dayjob and focused on crypto trading, he told me that bigcoun has given him freedom over his own finances which eventually made him debt-free and hase earn pretty much money just by trading and managing campaigns. |
|
|
|
Well 60k dollars is more reliable than 250k dollars in the year 2022. However 60k dollars is too high price for bitcoin. I think it should be 30-35k dollars. That's what I think because in case it will travel to 60k it is a little bit harder to invest to bitcoin in my situation. I don't what will happen at the end of this year. Good luck to us.
optimism pays, being positive really helps bitcoin in getting more trust and getting more widely accepted. but let us not overeact on the numbers. we all know bitcoin is highly volatile, it is very unpredictable in terms of when will be the next wave to sell. but les us all hope you prediction will happen. |
|
|
|
|
They see bitcoin as worthless because they never actually used it personally ,their basis is hearsay and negative news about bitcoin, who knows they are just mere spectators, we cannnot say bitcoin is a bubble just as tulip, if it has no worth, why did it landed as the top coin in the cyptomarket.
|
|
|
|
When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
One, it is imperative to think that loosing bitcoin at the same time is impossible, it is unlikely to happen, it will not affect the overall status of bitcoin, if the supply of bitcoin is diminishing, it maybe due to less mining and maybe some big whales are hodling it. Im sure they are setting their limits by doing so, for bitcoin not to exceed to the lowest. We all know what will happen if the supply is low, the price will go high. And when it happen, the price is so high that no one can buy it. So it must be balanced by silling from time to time. |
|
|
|
Maybe because they experience too many scam..we can't say the main reason but most of them is already experienced to scam.
I think everyone here in this forum have experienced being scammed, scams also evolve in a sophistically and unrecognizably way, they adapt to a more belivable shceme, what is important is we leaen from that mistakes and as we contiue with bitcoin, we are also evolving , we may be able to identify schemes. |
|
|
|
If we have less new investors, so the prices tend to fluctuate less? How much dependent of new investors the prices are ?
The main reason why theres a fluctuation in prices is really dependent on the demand and supplies of bitcoin on the current market, if more peaople are buying, the price will go up, if more and more investors are entering the market, usually results in decrease in supply so the price will soar up. |
|
|
|
|
of course without a doubt, education is more important, even before you start in investing, without the proper knowledge in statistics and how trading works, one could not profit, if one does not prosper in bitcoin, there are other things that we can do if we are well educated. especially when we have a degree, we have so many opportunities aside from bitcoin.
|
|
|
|
|
well basically, yes they have the same platforms, they both runs on the buying and selling, investors earn and lose with the same principles. yet in bitcoin, the market price is more unstable and unpredictable that it is more risky that stock market, bitcoin has higher volatility because it is digitally based and no international barriers, it has wider market than stocks.
|
|
|
|
What others mistakes was putting their money into investment with out proper knowledge. Once you invest your money in crypto study first and know well how the market works like when will be the best time to buy and never think that it will give you milliones right away ,bitcoin is good for long term investment and when the best time comes bitcoin will return your money hundred folds.
correct, others are just mere speculators who are just investing based guts and initial reactions towards the current market price, they are easily dictated by short term investments, when we have goals to earn more, we should be more patient and focus on long term invesments, we should not be affected with the high volatility of bitcoin price, the key is to hodl and sell at fhe right moment. impulse buying and selling are not good for investments. |
|
|
|
|
investing with small capital has limited profit, since the capital is small, we can expect that the turnouts or profit is small too, the percentage of getting a big profit is low, especially in bitcoin, the possibility of loss is high since the price is volatile. so if you are planning to invest in bitcoin, make sure there alloted budget for loss.
|
|
|
|
How many cryptos should Ihave in my portfolio? Are there one recommended diversification ( like having 3 or 4 coins) ?
Ideally, a trader should have at least 2-3 crypto on his portfolio, having so much would be so toxic, it requires more of your time and needed more focus on you. Btc, eth amd ditcoin i think for me is good, being the top coins nowadays, it should definitely be on you portfolio |
|
|
|
Do someone here know about bitcoin halving?
Is there a problem when bitcoin halving hits?
Is it better to buy bitcoin when bitcoin halving come?
Yes , I know . Since I don't know about the whole details about this but one of the my friend told me about this and explained me . According to him the network of the Bitcoin will see all the details in the Bitcoin transaction that how much they mined and how much they needed to mine more . Usually there didn't airise any technical problems but still after having people things that price may get more high or may go down sharply , so we should remain active whether what is going on . The last halving was in the last year about mid of the year , and now I think next halving will the final halving and after that no halving and no more mining of the Bitcoin will take place . this is the first time i heard about halving and as per your explanation, it is clear to me now, halving is a phenomenon that occurs when we heard this kind of news, people tend to buy as this is a good trust booster, but i see it as an opportunity to buy today, it is sort of a forecast, now we know when is the time to buy bitcoin, keep on buying, for the next halving is about to happen, this calls for a long term investments, hodl your bitcoins, and when the right time occur, it is a sure profit for traders, cheers. |
|
|
|
|
Show Posts
