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I was invited by a friend of a friend to invest in Bitcoin last year. He told me that if I invest 5000 in our currency it will be doubled in a month's time. He also promised me that I will get referral fees and override from every person I introduced to Bitcoin and that prices of Bitcoin are expected to increase. To make the story short I did not join because I believe its a pyramiding scam. Truth to be told I did my research on Bitcoin after that and it turn's out that Bitcoin's price was really on rise unfortunately I did not invest at that time. Currently I'm learning more thru this forum and I thank my friend for inviting me here. Just last December I heard from one of my friends that the company they joined was in fact a pyramiding scam and the money they invested in just vanished out of thin air together with the people who invited them. We should be wary of people offering investments and opportunities to us. Do your research. Opportunity comes with risks as well as the rewards. If its too good to be true, it might be a scam. Bitcoin is not a SCAM but there are people who uses Bitcoin to SCAM other people. Good luck to us and more power to Bitcoin!
this investment scheme alluded to in the beginning of your post doesn't sound like bitcoin itself, rather a ponzi/scheme that is merely using the name of bitcoin to lure people in. I greatly recommend you search andreas antonopoulos on youtube and learn about it via his talks, he is excellent at explaining exactly what bitcoin is. |
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The answer is: NOYou’re not the only one who has this feeling. As someone who got into cryptocurrencies 2.5 years ago (It also seemed too late back then), I think you shouldn't spend your timing regretting on opportunities you missed. Instead, you should make your first step ASAP and learn by getting involved. What should you do? Stay tuned - Read a lot about the different cryptocurrencies and try to catch up with the latest news. Know where you are at - Try to understand how this market works and the main technology behind it Understand the Blockchain in Two Minutes Trust yourself - 90% of what you read on the internet is bullshit, follow your instincts. Learn the basics of technical analysis Crypto Investor's Guides - CryptoPotato I hope it helps, GuerrillaBuzz It is extremely early in the crypto space. Invest, learn and play around with crypto, for the technology/future.. not for "profits"... though luckily you may get plenty of that too  |
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I have been monitoring so many post about HODL! HODL!! HODL!!! I am a victim of that but I have sat down and analyzed something. We should all know what will happen when we all decide to HODL. This will be one of the deadliest that will ever happen in cryptocurrencies. When we all decide to HODL I think the markets will go down and the green markets we want will never com. Also BTC will die when we all decide to HODL. I think we can at the same time SELL and BUY to keep our greatest cryptocurrency alive. I stand to be corrected and also we can add some to it as to what will happen.
This really isn't an issue, holding tends to have a price-appreciative effect (up to a point). Markets go via mass psychology, supply and demand etc.. as the market matures and gains adoption, the volatility will decrease regardless. It's very early days in the cryptospace but even with this small amount of people involved, you could not arrange everyone to hold, it's impossible. |
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Bitcoin is incredibly fast compared to traditional systems of money when you consider things such as international payments, heck, even payments within the same "country" can take days in some circumstances.
Compared to paypal and "some" fiat payments, yes, those can be near instant... but the compromises in privacy, security and censorship-resistance are not worth it. Bitcoin and other cryptos will only improve in terms of speed, things like lightning network or instantsend... the possibilities are endless.#
Most comments like these are simply born out of ignorance or only coming from the perspective of someone who is very high up and well served in the current financial system; but the vast majority of the Earth is under-served or not served at all. Those who are served are under immense control and surveillance, whether they're aware of it or not.
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the us dollar will die, how you gonna evaluate and market your bitcoin https://www.youtube.com/watch?v=xPBFD6TwBn0with the us dollar gone you will be considered nothing but a power computation power installing sect, you arent even an encription service like ethereum or waves. bitcoin will become nothing but a populist pow sect. when the fiats die, and there are more and more rumars they they will die. why should a trader accept a currency that wastes the electricity of entire countries, i mean those traders and workers have electricity to pay. they will need and desire real capitalism regards too hard to say what will happen but my guess is that the centralized bodies will introduce their own "revolution" in money, which will be more of the same, controlled and centralized. The masses eat up deception very easily and will adopt that, along with the tyrannical financial surveillance that already exists, bitcoin and other true open, decentralized crypto-currencies will continue to appreciate in value when compared to the systems less preferable form of exchange, as less and less people will want the digital fiat. |
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this is good in some ways, bad in others. Those who link the Legal system, AML/KYC/Legal name via workplace really need to learn about their privacy and ways to protect it going forward.
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Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.
It is practically impossible to buy up all the Bitcoins that exist. As they are purchased, the price rises exponentially. Imagine how much this mysterious buyer would need to pay for the last Bitcoin still available? Who would sell it, and at what price? If there were only a few coins left, the price would be several millions of dollars, and people would simply use the fractions of a coin in the same way they today use a full coin. Furthermore, if someone attempted to do this, it would not harm anybody, and conversely the amount of resources that would be poured into Bitcoin would be immense! Every one of us who owns any coins at all would be rich, and would have the ability to start and fund new ventures. I can think of nothing that would accelerate the strength, power, and development of Bitcoin more than "someone trying to buy all the coins." Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?
The rich typically "get richer" because they earn money by providing things people want. This is also how the poor "get richer." Those crooks who get richer via the coercive power of government intervention or through fraud will not be benefited by a monetary system that removes this coercive power. Wealth is necessarily MORE merit based in a Bitcoin free market than in a fiat centrally-planned and controlled market, because those avenues to achieve wealth through anything other than merit are reduced through Bitcoin. To be sure, a more merit-based system may lead to greater wealth inequality... but so what. Every man has the right to that which he earns. The "distribution" of Bitcoins is meaningless - it is the manner by which one is able to acquire them which is important. One can acquire dollars through government force. One cannot acquire Bitcoins in that same manner. This is why Bitcoin is fundamentally "fair," no matter who's rich and who's poor, and why fiat currencies like the USD inevitably lead to wealth distribution that is fundamentally "unfair." indeed, hard to add to this post. As the market matures and becomes larger the volatility will decrease, but as stated here, if there was a huge buy up 1) it would require people willing to and actively selling their holdings and 2) the price would skyrocket limiting the amount that would likely be sold. The incentive structure of these cryptocurrencies would only mean that anyone attempting to do so would risk their own wealth to the point where it is not worth it. |
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not just bitcoin but all cryptocurrency in general are pseudo anonymous. It's up to you and how you handle your transaction and how you keep your asset.
I believe transparency is key characteristic of blockchain and with now KYC for more exchanges I believe being anonymous is now just a history.
Privacy/fungibility will be a key issue moving forward. KYC/AML and the way legal entities (corporations) interact with crypto-currencies is something that everyone should become familiar with. They are the enemy of freedom/crypto-anarchism. There will be multiple competing methods of interacting with crypto... the system/bankers/legal version will be somewhat of a dystopian nightmare, as it currently already is. Those who know how to use decentralized exchanges and keep their jurisidiction in tact will be as free as you can get financially. Ignore what is sold to the masses, learn why it is sold to them and how to avoid enslaving yourself... since that is the only goal of the traditional banking/legal system. |
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I'm not even sure this matters... countries/central banks and other enslavement legal entities will probably create their own "cryptocurrencies" which won't be true cryptos in the sense that they will be closed, controlled and stale for innovation.
The question is, when do people adapt how they live to ensure they can be financially independent of the current scam/deception that is sold to the masses.
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Who is that person who would not invest in his or her future? what awaits such kind of person, i asked about 50 friends and their answer was POVERTY, some says DISASTER.
It is normal for people to be scared as they are not sure of what the future holds, they panic, they fear as no one knows tomorrow, we are uncertain of what would become of us in the next 10 minutes.
The only way we could atleast be sure of a better future is by investing greatly into the future, we invest our resources, our strength, we go against our parents sometimes to pursue what we think is better for us that would be beneficial to our Tomorrow.
BITCOIN = FUTURE
I believe so much in Bitcoin that i staked all of my resources, i had to even talk to my wife to allow us sell our house so we could invest in our future and that of our children and i must tell you that it is really paying off, we bought 5BTC this year when it was dip around 5000 dollars, and i believe you all know what the price of BTC IS TODAY... This is my first post on this platform, i'd decided to do this so as to have a platform to refer doubters and people with no foresight to when BTC hits 100 thousand dollars before middle of next year 2019
although I share the sentiment, remember to hedge/diversify and have multiple stores of value / potential investments. Certainly hold/trade bitcoin if you have the means to though |
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Bitcoin is the most robust and tested network with volume/participation, and the most trusted in the sense that there is not a centralized corporation, team or dev controlling it. I don't know whether it will remain king forever, but in the short-mid term (years/decade), it seems quite likely... that being said institutional/banker money and these tokens/centralized cryptos that are controlled, with gigantic/unlimited supply, could very easily out-pace bitcoins market cap due to the limited supply on bitcoin, and lack of awareness of the public. We should not underestimate how dumb/easily mislead the public masses are; and we certainly shouldn't use market cap as THE benchmark for robustness/trust
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its been half of 2018 and we have seen a lot hacks issue in crypto industry, exchanges, pools, traders everybody is being affected by this hacks.
what is the solution as i see hackers will not leave this chance as this industry is still in development mode( early stage).
is DEX are solutions for traders, let me know !
BTC
true decentralized exchanges yes, and atomic swaps / being aware of your own security. There is not really any other solution for personal funds. If you are happy to use centralized entities such as custodial services, then this will be somewhat of a solution for those in the mainstream/investment world. But for anyone who is interested in their own freedom from tyrannical govenrments, Legal entities and KYC/AML etc, they need to work on their own security and practices. |
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https://www.forbes.com/sites/kenrapoza/2018/04/25/nasdaq-ceo-bitcoin-trading-cryptocurrency/It seems as though now that the cryptocurrency market is recovering people are jumping back onto the ship. CEOs are starting to back cryptos and like they never stopped. It is amazing how many people change their stances when their is an influx of capital flowing into the market. It certainly makes it easier top see who is saying what just for the publicity and their own benefit. Good Luck Traders, The Elysian Team Cryptocurrencies are all positive, there is nothing negative with them, moreover its invention is the boon for the humanity and cryptos are taht digital currency that has provided employment to millions of people and helping a lot in reducing poverty to a very great extent at the global level. As every thing has its pros and cons , so does the bitcoin , being decentralized cryptocurrency it is being used for some illegal acttivities otherwise it is very sustainable cryptocurrency and has that potential that it is able to replace paper currency in the future. Whilst I agree that it is majorly positive... the cryptos need to be used correctly and understood. If people allow themselves to be duped by centralized versions of cryptos - exchanges - legal entities or companies pretending to be crypto-friendly (AML/KYC regulation abiding), or any crypto that can be controlled in any way, then it can create dystopia/hell for those people. Used as intended though yes, I agree, crypto has the potential to allow the entire population of the world freedom from financial tyranny and to include and empower themselves despite not having access to the traditional financial system. People just need to learn that KYC-AML, Banks and Legal Corporate entities (LEGAL TENDER - TENDER FOR LAW) are the enemy, avoid at all costs. |
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as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.
Thank You.
Those "reasons" have nothing to do with why Legal entities would want to ban crypto (cash/fiat is overwhelmingly used for those purposes). They want to ban or de-legitimatize bitcoin and other true open-decentralized currencies, precisely because they have no control over the population who uses them correctly. But this is just part of their misunderstanding and denial. The legal babylonian deception will continue to control those who do not take their privacy/security seriously. As you can see now, centralized organisations/exchanges are requiring KYC/AML regulatory practices... these are the enemy of freedom as they allow the CRIMINALS (Legal / Banker / Governmental) to attach their fraudulent jurisdiction to crypto users. The truth is, if you know what you are doing, they have absolutely no jurisidiction or authority.. and they cannot stop the innovation. If you are interested in not sacrificing your freedom over the next few years, you will want to become very accustomed to atomic-swaps and true Decentralized Exchanges / Privacy solutions. The centralized companies are LEGAL entities, and therefore cannot be trusted. |
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too many variables... but yes I can see bitcoin reaching some of the more "outlandish" predictions due to network affect and being the most tested/secure network, among other things. Whether it will remain king is another thing. It could do, anything is possible either way
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as the network size and participation/commerce and usage increases, volatility will decrease. So I wouldn't say it's great to use as a currency per se right now, but in the future with lightning and other improvements along with decreased volatility, it will be.
It's early in the space, so just time and adoption needed.
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Can we trust the news? Can we trust the local media? Well!
No, we can`t. Media has been at the service of the governments for long now. Even "independent" newspapers trend to end at the at the same service when enough money is offered to them. So, yeah, to find "the truth" (whatever "truth" means) is really difficult. Do you remember "1984", by Orwell? How the "Ministry of Truth" used to change the news in order to legitimate the current government? Well, that is actually happening. this, essentially. Even the internet and decentralized points of "alternate news" are compromised (NSA/GCHQ etc create masses of disinformation). But decentralization and web 3.0/4.0 is still our best bet. Best thing we can do is learn to turn our attention inwards, learn logical fallacies/critical thinking and remind ourselves not to trust everything we read or see. |
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The way I look at it, cryptocurrency is not changing the world. The world has already been changing at a rapid rate, and cryptocurrency is just a byproduct of the societal and technological advancements. I believe that cryptocurrency will be utilized in the future; it's just taking a while for people to catch on. It's unfair to expect the general population to catch onto this tech, but eventually... they will. I can see almost all things being digitized. That, along with increased globalization with the help of the Internet, the importance of easier and cheaper international transactions will become more realized. Another reason why I am high on digital inheritance alts like DGPT. People will begin to realize the importance of passing down, not only their currencies, but also passwords to accounts, pictures, anything digital.
sounds about right, I mean... I do think they change the world in fundamental ways, but similarly like you, they are byproducts of the open-source/decentralized communication (internet) and cryptography movement |
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Do you really look for a long term profit, like the people who had bitcoin in 2014 or are you here trying to get a quick buck with a minimum effort?
yes, but which ones will last/thrive is up for debate. It is still very early in the space though and lots of room for growth for any decent projects Bitcoin will remain king for the foreseeable future (unless something attains sudden widespread usage in day to day life, and even then bitcoin may remain king as store of value since it is the most robust and tested/secure network) |
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Risky for those who aren't keen on researching before placing their money on any investment. So far, I haven't seen an experienced trader get scammed or lost it all way back when there literally isn't a single regulation in place for bitcoin, so that means it's still on the end-user to see for himself where he is putting his money and whether or not he'll get scammed or not. Fair and just regulations are already being rolled out by several countries all around the world, so it could spell less worries for those who only invests mildly yet still want to profit big.
this. people don't understand how radically crypto shifts the power back to the individual. But with power comes responsibility; we must be responsible for our security/provisions and research surrounding it all. If you're not knowledgeable about your own "assets", don't expect them to work well for you forever because you are the weak point in the structure. |
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