The last week has been a little bloody... And yet, after all we've been through, I have grown numb to this feeling. Stress, sleepless nights, etc... these are all a thing of the past. In fact, I just had a delicious breakfast with my girlfriend. For those of you that are scared of the current situation, awaiting for a sell-off, its best to remember the long-term benefits that Bitcoin and crypto bring to the table. I recently wrote an article outlining the most important ones. Instead of getting sweaty palms thinking of the next 24-hours, use your time wiser and educate yourself by reading my post: https://paybis.com/blog/benefits-of-cryptocurrency/Hold onto your BTC, we are the future millionnaire generation. It takes a true believer and a great investor to understand the bitcoin market. This is not the first time the market value of Bitcoin has dropped and its not gonna be the last time. It might be really difficult not to panic when the price of Bitcoin drops like that. But i believe and think the value of Bitcoin will be hitting $10k very soon before 2019 comes to an end. Now is the time to buy more bitcoin if you are looking forward to make a big out of your bitcoin investment. Yes. It takes a strong faith in bitcoin not to end up frustrated and depressed with the current market price. But honestly, i'm still very optimistic about bitcoin price that it will pump more and makes its market green again. While the price is low at the moment, this is the best opportunity to invest more in bitcoin and makes a fortune in the future. Having blind faith is not good either. What you need to do is to educate yourself and understand what Bitcoin is then you’ll came to know what are its characteristics that would drive its price higher than before. To believe in something that is driven not by emotions but by your rational thinking would be a lot less riskier and much stronger. Analyzing the situation and what drives the pumps and dumps would not make you afraid since being afraid then pulling out your assets in Bitcoin is for those who don’t understand what’s going on. |
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There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.
Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment. You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok. With that been said, no crypto or fiat currency will be use as global currency because the rules and regulations of every countries are not the same. Point taken. But in a sense Bitcoin is a global currency because anyone in any part of the world can use it although it is not legalized to some nor can be used in daily life more often than fiat. Though I find it convenient to do transactions that aren't local or within the country that I belong since it is much easier being peer to peer as what the Bitcoin is made by Satoshi Nakamoto. Mass adoption might come though I highly doubt that a single currency that would become the global currency that is accepted throughout the world would happen because of different set of laws and regulations that each country has and the fact that their monetary system is the manifestation of their sovereignty. |
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Regulasi aren't a golden bullet against scammers. As all those things become more obvious to the general public, scammers evolve to mimic decent projects with almost impeccable efficiency. Still, the most reasonable rule of investment isn't about ICOs or IPOs, it's just about your common sense. I mean no matter what, never spend more money than you can afford to lose.
I agree that the rules cannot stop a scam project from being launched by scammers. because scammers will design and prepare everything to commit fraud against investors who want to invest in cryptocurency. but to know that it is a scam project or not, we study the characteristics of a scam project. so we are not fooled by them scammers. When i see the red tagged person i will stay away from all the project that has being tagged by red flagg. What use to argue something that not very clear. For me i just sty away and support any projects that has potential in delivered their promises. Which is most likely hard to find nowaday.. Always inspect the trust of the manager and also the previous projects that he had managed. You will learn a lot on how do they deal with it and whether they are picky on the bounties for the projects raising an ICO. I don't say that it would guarantee to be legit or anything but the chances of it being a scam or an utter failure is lesser than those random ones that aren't that known and you are sure that these managers before dealing with those people behind some new projects would not let their lives easier if they decided to just run away. |
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Not that surprised though. As mention in the OP, Argentina is facing economic crisis which is the main reason why Bitcoin's price shoot up. By this news, we can see how Bitcoin can greatly help a country or a person to secure their assets in times of economic crisis wherein it is much easier and convenient to store it in Bitcoin or in cryptocurrency in general along with the security that you can have and maximizing it by purchasing cold wallets if you do not trust third party services to do it for you.
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I really used my earnings in cryptocurrency in my daily life because using crypto helps me to have a better income, that is why it is the reason why i don't need to ask money from my parents because i have my invome to provide the things that i wanted and needed. Thanks to crypto that i could now do things that i have never done before like going in different places and buy the latest gadgets.
That's another thing to understand what the OP is meant to convey but base on my understanding whether we DO use cryptocurrency in daily life then I would say no. You use "your earnings in cryptocurrency" which you converted it to fiat for you to be able to use it as your allowance or buying things. In my experience, I mostly use cryptocurrency when transacting in the internet which would provide me lesser hassle than converting my local currency into USD for example and send it to another country which would require me to go through a bank or remittance center that would take several days to process along with the transaction fee that I'll be paying. |
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Let's not be fan boys here.
If you are a serious person and you deal seriously with your money, ofc you need to hold both of them. Gold and bitcoin. You don't have to choose only one.
This statement is true because in fact when we use the popular saying in trading “don’t put all your eggs in one basket” then we could say that we should diversify our portfolio. Having Bitcoin and gold at the same time is the most safest way to ensure your assets would fall into very solid platforms especially when we talk about Gold where history tells how important it is to maintain economic stability and how would it play a vital part when a crisis strikes. While Bitcoin on the other hand, the market is quiet young compared to Gold but because of this exact same reason, it would be wise to invest in a project that would guarantee you profit when the market matures more in the future especially when we talk about its characteristics that would surely not die out as the time goes by. |
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I think what needs to be prepared when we are going to invest long term is patience and also emotional stability. Price movements in the market are very fast moving, without patience and emotional stability, we will easily panic and be able to sell our tokens at low prices. In my opinion, the best way to buy tokens or coins that interest us and store them in our own wallet and forget about it for several years
If you want to forget when investing, you should only choose some safe coins like Bitcoin for long term investment and will greatly reduce your risks in the near future. At this point, any investment should be considered multiple times and the downtrend in recent months has made things more difficult to predict. One way or another, you must always manage your assets the best because if that coin is not able to rise well, your profits will be greatly reduced. Currently, I recommend holding for at least 3 years and if during that time you cannot make a profit then you should give up and switch to investing other coin. Three years is a very long time and would be a lot riskier with some other cryptocurrency other than Bitcoin, Ethereum and other major players in the market. I think you can hold it for thy amount of time as long as you keep track of the news about the developments because there are projects where it turns out dead with no updates. I would strongly suggest Bitcoin just to play safe even if you just leave it for many years to come with hardly reading any news about it and you’ll find yourself on the winning side. |
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scarcity occurs due to the increasing number of requests while the number of goods desired is limited. this is what makes an item scarce and makes it a valuable item and its value will also increase. the number of bitcoins is limited to only 21 million coins and each year the number of bicoin that can be mined decreases but the demand for bitcoin continues to increase. this is what causes the price of bicoin in the future will be more expensive. with this method bitcoin is protected from inflation which usually occurs with fiat money.
this factor can also move upside down if 60-70% of bitcoin is owned by several large groups, and only gives users the opportunity to take the rest. bitcoin will continue to move in large fluctuations associated with manipulation. Scarcity will make bitcoin a higher value but most people will be more dominant against altcoin. Bitcoin will face a crucial problem in volume spread. It all comes down to the basic principle that is the higher the demand the higher the price and also the lower the supply the higher the price. Bitcoin is a good manifestation of this principle wherein the price surge so high because it both has high demand and low supply. Also, this I think is what makes Bitcoin to survive compared to fiat in times of crisis. On top of that, what made the value of Bitcoin rose so high is because of the features like how decentralize it is and being peer to peer which made the people stay. |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
I have heard of many people saying the future is going to be asset backed tokens. They may be right but I cannot see a very strong asset-backed token as of this moment. There are fiat-based tokens though. They are backed with actual fiat but they are not considered asset-backed tokens. There were many attempts in the past to sell tokens that are claiming to be gold-backed but nothing is heard of them ever since. They must have all failed. There was also a bounty in the past which they claim that it would be backed by silver though as it turns out it's not that legit and it soon lost its value. A lot of ICOs had been conducted and most of them turns out to be scam and we could also mean that in general so that's why you need to select which ICO to invest. Though honestly I think the idea of cryptocurrency backed by something like gold or silver is brilliant but it is not taken seriously. I think there was a project that is paying you could search it if I remember correctly. |
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Is that so? As I recall there are cases where people who opened an account in some particular banks, when the bank had learned that the account holder is somehow connected to the cryptoworld they would terminate the account with this pretext. I can’t remember the country but you can try searching some articles relating this. This bankers would say a lot of things but the thing is that Bitcoin or other cryptocurrencies didn’t exist to disrupt global financial stability but it is to aid to reinforce.
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Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.
I strongly doubt that in ten years it would happen. Let’s be realistic. Bitcoin is still growing prematurely and the popularity of Bitcoin is not that much i.e. based on how many people knew about it. If I would go strolling and would ask a random stranger if they knew or heard about Bitcoin then most of the time they would answer no. It might happen that the price of Bitcoin would reach that high but no that too soon as you had been claiming. I would consider it as an exaggeration. Bitcoin still has a long path to go in order to reach that kind of level. |
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I suggest supporting the project from the beginning before they start ICO / IEO. if you are absolutely sure about the project, there is no reason to wait to support it when their program has run. however, the prizes you get to become more. some people sometimes regret not supporting the project before they start selling it.
And there are those people who also regret joining from the very first week up to the last and get absolutely nothing since it exist just to scam people no matter what kind of project they would sell. The thing is you need to do some research on your own and think logically rather than emotions. There are a lot of enticing projects out there but you should look around whether the people involved are legit and is the project possible or does it only exist in the fiction where the reality is just too much for it to happen. It’s hard to trust ICOs this days. |
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Well I would use Bitcoins for sure when it comes to using something that is not related to the government since libra is centralized and it poses the same risks as the normal currency but then comes the popularity I think Libra might be more popular for the upcoming days since they have huge user database.
I would use it if they offer something better and more private but let's see.
They do surely will get popular since there is an entity that would massively invest in advertising Libra but thing is it can also help advertise Bitcoin indirectly since people would start raising questions on what cryptocurrencies are and Bitcoin who dominates the cryptomarket would somehow steal the spotlight and compared to the centralized Libra then Bitcoin would sell itself being decentralized. Though I haven’t read what and where could I use Libra if I may come in a possession of it but thw thing is that I would still continue to use Bitcoin. |
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To all of the millennials here in Bitcointalk, do you also agree that Bitcoin is a much better option than gold or real estate? As much as I liked real estate, the target market is kinda tough. Unlike Bitcoin, anyone can afford to buy it, even in the form of satoshis.
I pretty much agree to the rest of your statement but not on saying Bitcoin is much better than gold. If you really wanna keep your assets safe especially in the time of extreme crisis in the economy where fiats are failing and so as the digital assets that you hold dear which may due to war or etc then gold will always be the most secure above all and would help the economy to bounce back and heal it. Gold is very powerful and there a lot of things that it can do than Bitcoin and vice versa. |
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If the model allows bitcoin to be used in post offices in Croatia successfully, it is possible that countries in Europe will learn. This is also a free and effective way of promoting Blockchain technology and other cryptocurrency projects.
I have to correct you here. This project or model will not allow users to use bitcoin in order to pay for other services in the post office. If someone wants to buy something in the post office or pay some bill for example, first user have to exchange btc to fiat and after that use fiat to pay for something. Of course, it's still great promotion for crypto in Croatia and great step toward mass adoption. At the very least we could consider it as a form of advertisement and since a well known agency is offering a crypto exchange then Bitcoin would be viewed in new light. The important thing I think is the first impression and through this news then people would be inclined to not judge the book by its cover and provide benefit of the doubt. Though I wish that it would more than an exchange of cryptocurrency to fiat but somehow a time would came that other services would utilize Bitcoin l. |
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What we are really lacking here is acceptance. If the government will accept cryptocurrency, they will make a move in order to fulfill what's other lacking like knowledge. If only the government will support crypto, they can include it in the curriculum so that students and millennials can learn and adopt cryptocurrency. If more people discover crypto, merchants will adopt to it. Making it an option for payments and such.
The only problem would be, non techy people and rural places. Well, it's not actually a problem since they can still choose not to adopt on it if they are not capable.
That is not really an option, governments are never going to adopt decentralized cryptocurrencies completely because it goes against their goals, and even more importantly it is never going to be included in the curriculum of schools so young people can learn about it, that is just a dream, if we want the market of cryptocurrencies to become more popular then we need to accept the fact that people will have to discover this market by themselves. Government could still adapt the decentralized cryptocurrencies because they can implement regulation to the different cryptocurrencies that are decentralized so they can have some control out of it and they can make sure that there will be no misuse of cryptocurrency. Some of the government in different countries already have a law for cryptocurrencies. Very few countries have regulated the use of cryptocurrencies. Even those regulations weren't that perfect and flawless. These laws weren't that effective to track the record of transactions in the form of cryptocurrencies and file tax. If I'm not wrong Israel has added it along with Gold. With cryptocurrency there isn't anything lacking, it is in the early days of growth and can expect things to be perfect over the years. Governments need to grasp the concept of crypto currencies well before regulating them. Moreover, bitcoin cannot be regulated or you can put it the other way around, investors do not want that at all. Transactions of decentralized coin are almost impossible to track. But if governments plan to introduce its very own digital currency for people of their country, they can do whatever they like to with it. Based on what I heard, China had spent out the last six years researching about blockchain technology and the cryptocurrencies and here there are circulating news about releasing their own cryptocurrency backed by their central bank and also by the gold as what a fiat had been which in the past are dependent on a country’s silver and gold reserve. Also, there are stories going on that United States is considering to do the same and invested money on research. Since it would talk about a huge national project that would allot time and effort along with the money that the people had paid through their taxes, they need to be sure that it would have its real uses and the people would utilize it or else it would be just a waste of resources. |
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I only used bank because of fiat so I have no problems really and never thought about this very well. Also, if I would buy Bitcoin then there are other ways here in my country where you can go to well known remittance centers or even a convenience store like 7-11 which would happily serve you and credit the bitcoins you had purchased almost instantly. Also, I convert my bitcoins to fiat and withdraw it to an ATM machine without the need to open a bank account. It is not really much of a hassle.
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The impact of changes in price on bitcoin to be used as a medium of exchange cannot be overemphasized because the volatility for me, is the bane of adoption which is why people who have made genuine contribution to the discussion will want to continue to restrict its use to a store of value where people acquire it with the sole aim of making profit hoping that its value would increase which makes it have a more intrinsic value than the actual and that is going to be stumbling block to massive adoption in the marketplace.
However, it is my hope that this limitation would not be there for long as the penetration is low at the moment, it continues to grow and the growth limits the volatility.
Volatility is the need of present moment. Investors want to make profits first and then utilize the earned money in commerce. The idea of buying with digital currencies is not as much exciting and wanted as the idea to become rich by investing in crypto coins. Still, a big percentage of world population is unaware of bitcoin and altcoins. But this won’t remain the case for long and these assets are already being used as a medium of exchange at some places. Volatility can be positive as well as negative which one you would like to do buddy. We need to have strong potential bump which can push the BTC value around 2k USD in the marketplace. So after that Bitcoin value will be grow more with the help of huge circulation and high demand in the market in both sides. Everyone has its own take on volatility but if you are investing for long term then you should not worry much about it. Though through this high volatility, traders would utilize it in order to gain massive profits but in the future when a cryptocurrency like Bitcoin would come to a point that the market is so huge that the price would not move sharply in the graphs which simply means that it had become stable. |
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I detest government influence on Bitcoin. Initially, I thought it was anonymous means of transfer of value that I could use to do business with people all over the world PRIVATELY and perhaps no one would know what I'm doing, especially my corrupt politicians. But what we have today is Bitcoin that is increasingly becoming another central bank. Would you find a way around KYC is you could? https://www.cryptoinfowatch.com/privacy-conscious-bitcoin-traders-use-bisq-to-avoid-kyc/Sometimes it’s good that the government is getting involved in the cryptoworld since it simply means that it is getting popular and new regulations are made in order to gave order and proper punishment to those who are abusing the cryptocurrencies since some use it to take advantage of other people that’s why at some situations, KYC is important. Though you can always choose not to and that’s the beauty of Bitcoin. You can always choose how much information will you share to others. |
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The question is: will the government allow them to avoid taxes? Of course they won’t. Here’s the thing: these companies would not do that because managing this huge sum of money would be hard as well as hiding it. Questions would arise if the taxes that a certain company pays decreases more so significantly then they would have a hard time answering these and they would face lawsuit along with their reputation that they should value very much since it carries the trust of the people aka the brand name.
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