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201
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Other / Off-topic / Re: What is your plan to get rich with Bitcoin?
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on: September 20, 2016, 05:28:16 PM
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My plan to get rich with bitcoin is to earn alot of money (Fiat) with my job and put alot down into bitcoin.
Then I wait for it to go high up in price and then I profit if the value goes up by alot. Hoping it can reach 10k each bitcoin.
Do not invest all your money in bitcoins and don't trust it blindly, if bitcoin disappears in future then it will surely make you bankrupt which can put you and your family in huge trouble. agreed i recommend that you only invest the amount that you can afford to lose, we are all have freedom to invest but just always be careful and think more times before we do something specially on investment more people getting lost because of loosing more money on investment. So while putting those amount that people can afford to lose in investing bitcoin, make sure they are also doing such any other ways to earn bitcoin without harming their fiat currency in their precious pocket. There are lots of ways to earn bitcoin and buying it directly is just one of the option. Still people can add the quantity of their coins by doing various ways to earn bitcoin. We should focus more on earning part rather then going for investing part, and if you can manage to do both the it can add value to your wealth and more coins can make you rich in future. |
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203
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Other / Beginners & Help / Re: What Happens if I lose my Bitcoins?
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on: September 20, 2016, 05:21:42 PM
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Bitcoins are like bank transfers, but there is no way to reverse a transaction.
Once they are sent to an address, whoever controls that account has the money.
It is up to you to verify that you are sending to the correct address, and to make sure no one gets access to your account.
Banks transactions are reversible mate, if banks wrongly credits your money in wrong account then they will take an responsibility and will reverse your transaction in no time. |
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204
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Bitcoin / Bitcoin Discussion / Re: Can Bitcoin make Banks disappear?
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on: September 20, 2016, 05:19:08 PM
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I also agree with you all. bitcoin might not make disappear the bank, because the bank is a financial institution that is essential for the international economy
We share the same thought, banks will never disapper even if bitcoin become international currency. The reason is that bank isn't for money storage alone. Banks are also used to store precious metal or delicate documents which is locked inside it's vault. So even if Bitcoin control the currency, bank will simply find its way to adopt in the situation and taking advantage and earning out of it. We don't see any strong reason behind bitcoin replacing banks, as bitcoin is too small in compare to banks and banks holds support from the society and Government, where people don't have much faith in bitcoin. |
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205
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Economy / Economics / Re: Bitcoin replaces the money? Could happen?
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on: September 18, 2016, 01:44:47 PM
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It can only happen if people would embrace change. There's a lot of reasons why the nation should use Bitcoin instead but people are not aware of that and the government seems to be against it as well. It might not seem possible for now, but it will eventually become more and more a possibility.
The two biggest hurdles for bitcoin to replace the money is 1-Lack of awareness of people 2- Government Institutions unwillingness to bring this change The point no 2. i guess is a much bigger threat for bitcoins a compared to point no 1. Yes Government will never allow any digital currency to replace their national currency and the other fact is people have more faith in paper money in compare to bitcoins as they find it easy and using since its inception. |
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206
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Economy / Economics / Re: Which one is good, trading or investing?
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on: September 18, 2016, 01:42:39 PM
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I think trading is much better than investing. In trading, you usually do it with your friends. It's quite hard to do trading without a group of people to do it. It's a good thing to have friends in the Bitcoin world so even if you don't check that often, you just ask your friends what the new potential coin and you invest on it. Some people are doing trading for full time and are always watching out for new coins. You should befriend one of those people.
Yes indeed in world trade bitcoin better than investing, because the chances of winning a better trade. If you can learn the trade well and certainly understand the benefits can be enormous. But if in the real world a better investment because it can provide benefits in the long term. Yeah investing in real products like gold or real estate can benefit us in long run, but cannot afford to invest on online sites, as we don't know whether its a legit place to invest or not. I agree, in an investment online there is no sure profit. It is easy to take advantage for those people who can create websites and start scamming people online. Though investing online requires less effort than investing in real world, but its still better to invest in real world even if it is a small business. Even if its a time consuming process in real world we can afford to invest time in it, as our ultimate goal is that we should invest in right product and we should not go from losses in future. that's right making good planning before entering to invest your money you needed to have more knowledge about the product or business that you will going to enter to avoid sudden loss in the future. No one will prefer to risky their money by investing in wrong product and its always good to invest in multiple products to minimize risks in future. |
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207
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Other / Off-topic / Re: Will you quit your day job to go full time on bitcoin?
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on: September 18, 2016, 01:41:01 PM
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For me it would not be a great idea to go full time on Bitcoin because I know that I would not make enough money with it to be able to make a living out of it.
Maybe it would be possible in the future but it would not happen at this moment.
Yeah and this stage we have only limited ways to earn bitcoins as our full time job eats all the time so its difficult to give more time to bitcoins, and if your earning from bitcoin is low in compare to job then its better to continue with full time job. That's true, going full time here is a big gamble, you only do that if you are still in the stage that you only earn for yourself but if you have a big family already who depends on you, you need to think twice about of quitting your job especially when you have no assurance that you will earn consistent income online. Yes and the major problem is that we can never expect stable income in bitcoins as price keeps on moving up and down so our income will also vary on monthly basis and that can be really risky. |
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208
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Other / Archival / Re: Do you use bitcoin as currency or investment?
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on: September 18, 2016, 01:38:51 PM
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Do you use bitcoin as currency? Or you use bitcoin as investment? Or both? I use bitcoin as currency and i never sell my bitcoin, but i prefer to use bitcoin when price is rising  So, how about you? Mostly I used it both, of course I'm doing bitcoin as my part time job so I have daily expenses and doing it too investing in the exchange to make it faster in trading. Its hard to spend it as a currency at a moment but in future we would be able to do it easily, but as of now the best thing is to invest it in trading sites to make regular profits. |
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209
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Other / Off-topic / Re: Are you buying bitcoins? Why?
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on: September 18, 2016, 01:36:03 PM
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I could mention some of the different advantages. This is capable of making things more easy to be traded and it also makes possible to use online services , in a much more convenient way..
Well sometimes I am buying bitcoins for trading but most of the time my main reason for buying is just to hold it. But whenever I am seeing some cazy stuffs online and could be paid off with bitcoin, I am buying it. So I have 3 reasons for buying bitcoins, for holding, buying and for trading. Buying and trading with them is a good way to increase the number of coins, as only holding will never take the number of coins to next level, but with trading you can do it frequently. |
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210
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Other / Off-topic / Re: If i give you 10 BTC what will you do?
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on: September 18, 2016, 01:34:06 PM
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I would just hold it till the end of this year and than maybe consider to sell it if the halving has been good and the price is also pretty good.
With 10 bitcoin you can make a lot of profit most likely.
You just need to wait for 3 months from now and I do not see the price will have a substantial increase when that time comes, maybe you hold a minimum of 10 years and for sure there will be a big improvement that time comes and that amount will be huge and you can retire already with a lot of money. Holding them simply for next 10 years without doing anything with them sounds really boring, just imagine how much profits can you make in next 10 years if you start trading with it. |
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211
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Other / Beginners & Help / Re: Doubling Bitcoin?
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on: September 18, 2016, 01:32:06 PM
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Doubling bitcoin is very difficult and can not be done with an easy click on the button. Lets say you have 5 btc and want 10 then just keep doing what you were doing.
Just keep on trading and like this you can keep doubling yourself which will get more difficult every time cause your capital keeps growing.
Plus the risk is getting higher. Well if you have 10btc already then I would gladly take the profit even if it is just enough. As long as there is still some. If you are good at managing it then you can do some other stuffs that are less riskier. I think buying new coins that are being advertised highly and have potentially should be bought and then sold on higher price, hey don't wait for the price to be doubled to sell the coins, sell at 20-25% profit and then try the same method with new coins and hence you can easily double your money but beware you might also loose a lot. The idea is good buying new coins then sell it if you see a profit of 20% up but this will take time and OP needs to focus on the chart. Anyway you have to work hard if you want to double up your Bitcoin. It takes time but once you were able to do it once then you will be able to do it everytime. What i do to double my Bitcoin is check for tip from tipsters here in Bitcointalk try my luck with their tips and mostly if you are following a good tipster then you will profit always. Yes and when it comes to trading, doing continuous research is mandatory as you cannot afford to invest money in any altcoin blindly without knowing its history or else you will surely suffer huge loss. that's how a lot people here always have been. when they buy altcoins it's just their hope that the price goes up as they are waiting for a massive pump to happen. they haven't done anything to get to know where or what they are investing in. these people mostly end up making losses as it is basically gambling that they are doing. there are no other words for it. Yeah investing in altcoin depending only on luck that it will rise in quick time is same like gambling with coins, you may be get lucky once but you cannot expect the same every time in trading. I remembered investing in LIR because I saw the benefits of the coins and the price was really great for awhile that is why I added more bitcoins to invest and hope in the near future it will grow, but unfortunately my prediction is not right and the coins now is almost worthless already. Don't experiment with your money in altcoins if you are not aware about it and at a moment if you are looking to invest then go for XMR, ETC and ETH and I am sure they won't disappoint you. |
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212
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Other / Off-topic / Re: What value does Bitcoin bring to you?
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on: September 18, 2016, 01:28:25 PM
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I am using bitcoin because with it I can earn bigger profit from price increase and from trading, and with that currency we can transact our money faster than bank or other transaction system.
I am optimistic person, from day one I believe in BTC & having more importance in my life as it will help me to become financial freedom in future.Accordingly i have started plan to build career. Well that's the best way to move ahead with bitcoins, try to earn and collect as much as you can for the future so if price reaches to the moon it can make you rich person for sure. So basically it is all about being optimistic for seeing what's ahead. In some ways i also think that we are also learning to become and entrepreneur type of persons because we discover some ways to earn. Not only on being optimistic but also being a sensible person too because we just think too ahead and made up some plans already. We do really learn while we are seeking for new ways and other methods to earns partly as you said also. Being optimistic would make us very positive in our dreams on being rich with bitcoin, and all of us here are longing that one day our continuous support to bitcoin will give us a good benefits and we will be rewarded with great profit on our investment. As a users of bitcoins we should stand strong with it even if price is going down, as if bitcoin will get continuous support and people will keep investing money into it, it will help in taking price higher in future. |
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214
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Economy / Economics / Re: panic selling
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on: September 17, 2016, 01:34:39 PM
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What if somebody will make a huge dump and sell it all the way to earn some profits because of this rally in bitcoin,and someone sees it and do that same thing. Is there any effect on bitcoin when someone to this,?
It would depend if those "somebody" holds a lot of Bitcoins. Just remember what the Bitfinex hack has caused us. We were slowly increasing and then it stopped and dropped really hard. Right now, we're still recovering from that. Its better not to get panic when price drops, we need to have faith in the ability of bitcoins, as it has fallen many times in the past but again we saw major rise in the price of bitcoin. |
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215
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Economy / Economics / Re: Is it better to save money or invest it?
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on: September 17, 2016, 01:32:57 PM
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It is good to have savings, but if you leave all your money in the bank for a long time, it may lose value because of inflation, during which time you may also lose good opportunities to invest.
Honestly its more good to save instead of investing because there is no investment are legit.. but if you can spend you earnings to your knowledge i think its the best investment for me and safe. Why would you say that there is no legit investment? There are lots of investments that are legit, you just have to search for them. I have some investments in real life and they are working well for me. But if you are just focused on scam online sites, then all you will see are scam online sites. Investing in physical products can be safe investment to make instead of going for online investments, as we cannot judge which is a genuine place to invest our money. |
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216
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Economy / Economics / Re: I'm not gonna sell any coin.
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on: September 17, 2016, 01:31:27 PM
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me too , i heard bitcoin price will back to increase after the last fall , i think hold some coins still worth to do
It is better to hold the bitcoin for the long term. As long as more people use the bitcoin, the price will rise. The price would rise only if the adopters do their part, not just by using bitcoin it would rise but investments would be a great support for that, as long as someone invests a good amount in it it would keep rising. To take price higher we need big investors who will bring fresh money into bitcoins, and if it is done then no can stop bitcon rising and it will surely take price to next level. |
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217
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Bitcoin / Bitcoin Discussion / Re: what happens if the bitcoin disappear ?
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on: September 17, 2016, 01:29:13 PM
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If bitcoin disappear, i'm sure other crypto currencies like doge or dash will be the next bitcoin. But i think bitcoin will not disappear and will keep exist forever.
Bitcoin is the king of crypto currency and it will not be easy for any other currency to replace it as the size of bitcoin is too big and it has more number of users in compare to other cryptos. |
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218
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Bitcoin / Bitcoin Discussion / Re: How did you first hear about bitcoin?
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on: September 17, 2016, 01:26:30 PM
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I heard first time about it on television when channel was busy in blaming bitcoins that it has been used by criminals to carry their illegal activities which made me curious to know more about it.
Wow, apparently you are very sympathetic to know deeper about bitcoin and it resulted in a fairly positive results. Because of the negative news that you should know about bitcoin now turns to positive news for your life. This is really wonderful and can be useful for you Yeah the basic principle in life is don't judge a book by its cover, in the same way don't believe what people thinks or say around you, try to make your own research and take decision accordingly. |
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219
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Bitcoin / Bitcoin Discussion / Re: Who really uses bitcoin?
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on: September 17, 2016, 01:24:20 PM
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The question will soon be who does not use bitcoin!! There are more and more people learning about bitcoin every day and soon it will be everyone who will know all about it. The question is whether or not they are going to use the currency.
I think if 10% of the people know about the bitcoin and use the bitcoin at least 10 times a year, the price will be very high. Bitcoin adoption can't really be stopped and for sure people would know about Bitcoin. Regarding to your question if people would use Bitcoin then for sure they would definitely use it if they would know it's benefits and potential. People who are into bitcoins surely knows its benefits but its a challenge for us to bring those people to bitcoins who are not aware about it, and if we succeed then we can expect bigger bitcoin in future. |
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220
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Bitcoin / Bitcoin Discussion / Re: NEver keep all your coins on an exchange
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on: September 17, 2016, 01:22:37 PM
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I also do the same it was a lesson for all of us who often kept their money in exchanges, and those online wallets which do not have any good review or history are also not good for keeping our bitcoins in there , as they also can be hacked.
even there is some people used an exchange as their online wallet lol , as bitcoin wallet is private , you should not tell and held your private key to anyone , by storing bitcoin in third party like an exchange and other online wallet which you did not hold the private key , you are just giving away your bitcoin. Private key has always become a general things before you're wanna for saving your money in a place, and maybe I know if you are trader and anytime you don't have a time for moving your funds into your wallet but for the normal people is not a traders and keep their money in exchange site. stupid ever. many times i heard about people used an exchange as their wallet , yepp it is pretty stupid especially when you are storing about a lot of money , the hacked exchange should be our lesson to not go full 100% trust , even an exchange have a very trusted reputation. If that is a cheap exchange website then it is likely to steal a person with a lot of bitcoin that will be stored. But for those who are known they have the thinking that trust is essential for that certain exchange to survive. Though some end up being a scam site. did you know recent case about hacked exchange bitfinex? they are trusted and have very large active trader stored thousands bitcoin there , but who know they manipulated everything by claiming themselves are hacked , it can be they just scam everyone. never trust someone online easily , it will hurt you soon or later. How genuine it may look from outside we will never come to their intentions, they may operate for some time to gain trust from the people and once they have enough funds they may simply disappear. |
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