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1
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Other / Archival / Re: should i save btc for future?
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on: November 09, 2015, 01:34:46 PM
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I would hold on to my Bitcoin for sometime. I personally believe that Bitcoin will not stay at the 200 or 300 range in the future.
Predicting for the next 5-10 years is nearly impossible don't you think? Why not hold on to the BTC till the value goes up at the next halving? That is what most of us are waiting for. Think for a shorter term prediction - say the next 1-2 months. |
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2
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Economy / Economics / Re: I just made my 4th BTC
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on: November 09, 2015, 01:31:51 PM
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I was able to make 4 BTC within one year now , I'm not sure how good or bad this is in your opinion but I can deal with it and I'm happy . What are your suggestions for me ? I'm not really interested in gambling and wasting my money so keep these kind of suggestions away please and tell me if I'm on the good path or not  I don't know how you earned it, if it should be just be signature campaign I think this is a good outcome. However I would keep those coins.Put them in cold storage and safe it for the future.At least the biggest part of it.A minority you can use to spend if you want. And continue accumulating Bitcoin.You won't regret it!  Good for you OmegaStarScream! I imagine you must have run a hard sig campaign to have earned so much in a year. Try to keep a majority aside for the halving and in the meanwhile you can take a chance of increasing your BTCs by using a smaller portion for trading. |
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3
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Other / Beginners & Help / Re: How should I secure my bitcoins?
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on: November 09, 2015, 01:28:43 PM
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If someone hacks into Coinbase, they could steal alot more than 2 thousand dollars. xD
I'd say if you trust yourself:
- Cold Wallet
- Paper Wallet
If you don't trust yourself:
- Bank Vault
- Get a trusted person to hold and keep your Bitcoins safe.
If you don't trust yourself then it means bitcoin is not for you in the first place. Bitcoin is created for people who can mange their own money and are not afraid of it. You better stick to the FIAT and banks if you have trust issues. Use a wallet key and store it on an external (offline) drive or USB. That way you dont have to worry about hackers stealing your pass key. |
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4
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Economy / Trading Discussion / Re: Minimum to start on trading
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on: November 09, 2015, 01:23:25 PM
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The amount you trade depends on your willingness to lose money. However, if that's covered, then you should look at the volume of the asset you intend to trade and try to stay lean.
Better to trade with as low as 0.01BTC rather than satoshis. Let the amount be as significant that a plausible profit can be earned. Trade only as much as you can afford to lose at that moment. That will give you a better idea of the risk but for the profit - the sky is the limit my friend. |
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5
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Economy / Trading Discussion / Re: This what happen when you sell bitcoin for Paypal
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on: November 09, 2015, 01:20:22 PM
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I've been dealing with PayPal for the past 5 years and the fact I've never been charged back is because I've always dealt with only trusted people. If you use trusted exchangers like xmlgold or trade with reputed members of the forum, chances are very less than the cash will be chargedback. It's not only bitcoins but trading for any digital good/product can be chargedback via PP and hence even ebay had stopped users from selling their ebooks/egift cards and they deleted my listing when I wanted to sell my ebook for PP. Localbitcoins also is a trusted site but you need to deal with trusted buyers and not newbies or people with less reputation.
True that. Deal with a trusted site and try avoiding newbies as much as you can. Your BTCs are safe as long as you trade in smaller amounts with a number of people rather than bulk dealing with an individual. Common sense can do wonders! |
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6
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Bitcoin / Bitcoin Discussion / Re: Another Ransom paid using Bitcoin
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on: November 09, 2015, 01:17:27 PM
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I still don't understand how people fall for this. It is as easy as having your OS up to date and not opening anything that is from an strange origin (beware of cracked software...) and that's it.
Yes. The thing why people keep falling for it is they tend to get relaxed when it comes to checking the authenticity of the software. But they keep suffering staggering losses just because they find it tedious to check first before they install any kind of software. |
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7
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Economy / Speculation / Re: Nights Watch by Afrikoin
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on: November 09, 2015, 01:13:33 PM
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This is a thread I'm starting to keep track of XBT markets, price movements and a bit of fundamentals. Mostly interested in price movements of the medium - long term variety. Not intraday. The icon is a question mark because no one knows what the price will be next week, or the week after etc etc My idea of coming up with close predictions/forecasts is from the crowd. Nights Watch because they see what is coming before the rest. Ideally, the point of this thread. I believe there is a ton of information out there on where people think the price is heading. What I will do is bring together all i come across/ find into a single thread. There IS great value in aggregating forecast from the 'wisdom' of the crowd. Of course, not just any sort of shitty forecasts and TA, but what i judge and consider to be worth a look. MY THREAD, MY RULES. Will Mod if things get out of hand. PLEASE DO NOT COME HERE EXPECTING STRAIGHT ANSWERS. Can't handle a maybe/dont know answer/answer you disagree with, GET LOST! Since it is under 'Speculation' i will occasionally play toy with speculative charts & TA Will gather charts from other threads too, no rules against that. CHARTS, TA, EW, PnF. . . . Free to follow. No hate speech. Peaceful thread. no trolls PEACE, LOVE and BITCOINS Thanks a ton. Finally a thread where the 'wisdom' of the people will be compiled and analysed. Will surely save a lot of time and resources rather than searching individual threads and sites. Let's hope the analysis will be more accurate (I don't mean EXACT). Thanks again Afrikoin! |
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8
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Economy / Economics / Re: Why people dump their Bitcoins ?
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on: November 09, 2015, 01:06:30 PM
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In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .
True. Newbies have somewhat higher (unrealistic) expectations regarding the profit making fundamentals and this is the main reason that they tend to get frustrated of waiting and dump their Bitcoins. What they need to understand is that the BTC market works like any other market. The price is bound to rise when more people want in on the BTC market. A little bit of patience and analysis of the recent market trends can see them making substantial profit. |
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9
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Economy / Speculation / Re: BTC Price going back to $250???
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on: November 08, 2015, 01:32:23 PM
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Not necessarily. It seems you have no idea about this, we are still above 100+ dollars of the initial price and suddenly 381 which is the current price is slow.. well give it time and it will recover, this is called a correction.
I agree, this is no need to be concerned. Why not just wait and see the price rise? It will be unwise to sell it right now. I suggest wait and see the price rise above even $300. |
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10
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Economy / Economics / Re: Bitcoin or Gold? What would you pick?
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on: November 08, 2015, 01:27:10 PM
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If given a choice to walk away with either Bitcoin or gold of equivalent value, what would you pick? Asians and Westerners were asked in Taipei in Chinese and English if they would take Bitcoin or gold home with them that day, and the answer might surprise you... http://www.youtube.com/watch?v=m6GiC8dqN9AWe just shot a video outside the Taipei 101 skyscraper area here and gave people a chance to answer if they would walk away with either Bitcoin or gold- and why. If you were approached and were offered the same deal, would you walk away with Bitcoin or gold in your pocket, and why??? with so much fake gold out there, I would walk away with bitcoins. Chances are the gold was tungsten filled That is so true. With so much fake gold out there i would be suspicious if someone offered me GOLD on the street! Better to get BTCs that you can verify in seconds if you have received. BTCs for me anytime. |
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11
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Other / Beginners & Help / Re: is it still a good idea to create a blog about bitcoin?
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on: November 08, 2015, 01:23:40 PM
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If you want to create a blog you will need to write good articles, and provably a twitter account to promote your articles.
It is never a bad idea to start a blog for anything. Bitcoin is still a relatively new thing. Start the blog and make sure that (a) Your blog is regularly updated with relevant articles and news and (b) you spend sufficient time promoting it online (offline too if you can). Ensure that you get maximum traffic on your blog. |
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12
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Economy / Trading Discussion / Re: AML/KYC Explained
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on: November 08, 2015, 01:16:26 PM
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I'm always weary of any regulations about bitcoin. Nonetheless, it is nice to have a few regulated companies to buy and sell btc/usd from.
Of course, nothing is going to prevent a mt. gox like situation though.
I agree. Rules and regulations for the safety of consumers are always important. Hope more financial companies start diligent efforts to regulate BTC transactions now. Another mt.gox like situation will scare away many potential new entrants towards BTC. |
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13
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Bitcoin / Bitcoin Discussion / Re: Russia Proposes Jail Sentence for Bitcoin Activities
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on: November 08, 2015, 01:12:12 PM
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Just another example how the authorities are scared of the rise of virtual currency. Would it not be easier to just legalize it and put certain regulation for safe and secure transactions? I think Russia (and others) need to wake up and face the facts that BTCs are here to stay. |
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14
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Economy / Speculation / Re: When will bitcoin reach 500 USD again ?
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on: November 08, 2015, 01:09:21 PM
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...and why do you think so ?
Let us hope the demand increases as more people buy Bitcoins. Especially since i have heard more people are gifting BTCs on Christmas. Also, the coming halving will definitely see a rise in the BTC value, so i would not be surprised if it crosses the $500 mark after Chritmas/New Year. |
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15
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Economy / Economics / Re: Why gold price going down?
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on: November 08, 2015, 01:04:26 PM
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Why is gold price falling now, even when bitcoin price going up?
I want to know that.
I guess most of it depends on the demand and supply of things. Gold and bitcoin are completely two different things, and gold going down has a very little or nothing to do with bitcoin going up. You might consider reading this for some more info on gold prices : http://www.economist.com/blogs/economist-explains/2015/07/economist-explains-17 . Though the trend for btc going up is because of other reasons, that include high demand due to FBI auction(people might expect btc to crash afterwards and so they are buying right now) and halvening that will create a low volume of bitcoin in the market. Gold is just one of the many factors of the Bitcoin market. The fluctuation in gold price does not alone affect the value of your Bitcoin. The main factor is probably the buying and selling factors that affect the market value. Don't need to worry about the price of gold. Just hold tight till the halving comes as the value of your Bitcoin will be driven up. |
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16
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Economy / Economics / Re: Greeks are rushing to Bitcoin
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on: July 04, 2015, 02:21:29 PM
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Well, Greece is in some real big trouble. THeir Economy is facing a colossal crisis, their fiat money is dead, so are their banks and the government is hardly helping. Paypal is gone etc. People are left with nothing but hope. And nothing gives them more hope than a virtual global currency which is performing great at the moment - Bitcoin. No surprise they're rushing to bitcoins
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17
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Economy / Speculation / Re: Bitcoin ready to take off!!!
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on: July 04, 2015, 02:14:44 PM
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let us not be greedy and think about it again. do we really want the same situation/ fluctuations as 2013? I don't think so. the current market is so smooth and steady that i don't wish for anything else but this assured growth in the bitcoin prices rather than heart failing fluctuations. this is satisfactory in my opinion. also, i dont think 2013 will repeat itself, even with greece becoming bankrupt.
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18
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Economy / Speculation / Re: If Greece leaves Euro - effect on BTC?
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on: July 04, 2015, 02:08:35 PM
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Greece leaving the euro, without any doubts will have a VERY positive effect on the BTC.
1. it will encourage other nations to adopt bitcoin, in fact it will make nations which have banned bitcoins to change their minds and give bitcoin a try
2. bitcoin will become a true global currency over time
3. the rates of the bitcoin will rise with more people losing faith in fiat money and appreciating bitcoins
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19
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Economy / Speculation / Re: Do you think bitcoin will reach it's $1000 mark again?
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on: July 04, 2015, 02:06:40 PM
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It might in the far future but right now it's impossible. we cannot expect 2013 to repeat itself, since the 2013 rise was cause by a lot of factors which i don't see today. whatever it may have been back then, those fluctuations caused more loss than profits on the bigger picture. right now the steady growth guarantees rise in price, a decent rise in fact. we should be happy with this trend
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20
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Economy / Speculation / Re: 100 bitcoins. Will I be a millionaire by 2020?
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on: July 04, 2015, 02:01:29 PM
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100 bitcoins aren't going to make you a millionaire my friend, in fact they aren't going to make you any different from what you are now. i mean to say that this amount is minute and doesn't make a big difference. you will need atleast a thousand to make your millionaire dreams come true. and by 2025 i don't think even being a millionaire would be enough  . |
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