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OP indirectly raises a very interesting point: There are hardly any "good" investments out there!
For the most part, assets are expensive, and it is very hard to get decent income (without buying junk). These are hard times for investors looking for safe AND profitable investments.
For me, it has come down to capital preservation (a deflationary viewpoint). At some point, .govs and the central banks will fight hard for inflation, and they will get it! Stay nimble! Deflation might very well be here, but inflation will be next.
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Hmm, interesting analysis and point.
My response as someone who does not know:
Buy BTC now before they try any KYC crap. Then lay low to see of this policy holds. Buy BTC with money that you can afford to lose. Then mix those coins.
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I think these are 2 good choices, gold and bitcoin are 2 profitable investments but there is a difference, gold is suitable for long term while bitcoin for singular length.
I see these arguments re BTC and gold so often I decided to crystallize my thinking into something seems short yet pretty general and reasonable: 1) If you are young and technically knowledgeable, go for large (relative) holdings of BTC and just a little gold. 2) If you are older, buy more gold than BTC. Fewer years to make up for any losses... 3) If you are within "young vs. old", buy proportionately. That should do it. (I am older, so have much more in gold and platinum than BTC, but I still have "skin in the Bitcoin Game"). |
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NO ONE knows what will happen in the future, I have seen that here at bitcointalk among even very knowledgeable people here.
The smart thing to do, IMO, is own and hodl both Bitcoin and gold. Their prices move relatively differently, and so are both great diversification out of FIAT$.
Both BTC and gold should do fine.
EDIT: BBZ just above offers good advice: BUY if you can afford it. You may lose, but more likely will win.
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It all depends on my view of the August 1 implementation. If "they" do it right (solve the scaling problems at least for now), then BTC price could rise nicely.
The alert among us might get a preview in the days JUST BEFORE August 1. If the price starts cratering, them maybe this Bitcoin experiment might end poorly, and many of us will lose a LOT of money. But, because there is so much money at stake, my belief (FWIW) is that we'll be OK. Too much wealth would evaporate.
Buy BTC at $2100 - $2300 only with money you can afford to lose if it comes to that. If it goes below $2000 or so, then maybe a lot of "smart money" is getting out of BTC, unless they are beating down the price so "THEY" can buy cheaper...
So, which is it? I have no idea. As long as you can absorb a hit on BTC price if things go wrong, I would be (and am) an optimist hoping that these guys will not screw things up.
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Some two months ago, during the big spike up, I traded some BTC for Pt and Au at +/- $2200 and $2600, respectively. Seemed that BTC had moved a little quickly and I sold some for metal.
Now with BTC at $2200 or so as I write, it looks like a good time to buy, but I have to wait about 10 days more (vacationing in the sticks not close to a city w/ BTC ATM nor community). If it stays in the $2100 - $2300 range, I will be happy to buy. Below $2100, even better. Unless they fuck-up fixing the BTC scaling problem(s), "August 1"....
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It will be a little over a week until I can get to a city where BTC is traded (in the provinces on vacation now). So, I'm OK if the price goes down until then. And, were push to come to shove, I could SELL some BTC for FIATEuro, but it likely will not come to that. And that's why I started this thread: to explore why having some BTC at hand while traveling is a good thing.
Then I sure hope that they have a successful August 1 implementation of, of, whatever...
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It will still be some 10 days or so before I can get my grubby hands on more BTC (now traveling "Beyond the Pale of Bitcoin"). But, I will be ready. Price keeps coming down until then, more BTC for me.
And that should work well IF the wankers fix the scaling problem(s) OK by August 1. If not, erm.......
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... The simplest explanation is often the right one (close to someone's famous quotation). It seems clear that the Rothschild's are indeed the world's richest and most powerful family by far. Yet I do not think that they are heavily involved in trying to take over the world as so many conspiritards state. Yes, they have huge holdings all over the world, were I that rich I would be hedging my bets too... Sure they likely use their influence to push for any agendas they have, but world domination? Ahh, come on... An interesting (and very long) article on the Rothschilds can be found at wiki: https://en.wikipedia.org/wiki/Rothschild_family* * * One world currency anytime soon? 2018? 2025? I doubt it. |
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IF they resolve the scaling problem(s) by August 1 (or have a credible solution very soon after), then IMO Bitcoin will likely seize its crown back as the King of Crypto.
There is considerable infrastructure around BTC (various merchants who accept it, who takes ETH or LTC?). Any "Alts" would have to have a HUGE advantage (or more) to convince people and businesses to switch.
If they do resolve BTC's problems soon, then the medium-term future looks excellent (more people and merchants using BTC). And I would go along with many posters here predicting a $5000 price before too long.
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Merchant acceptance of Bitcoin is the "other thing" that has to happen before BTC becomes big. We of course need more interest from the public, and we need more merchants to accept it.
One thing that would certainly help is if they arrive at a sensible agreement re BTC's scaling problems. They solve that, and the public (and merchants) will likely be more interested in taking a look.
Falcon Private Bank (of Switzerland) has just announced that they will offer BTC to their customers, a nice little plus today.
IMO, the next few weeks are important to get things done right.
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HI, just wondering, if i use a wallet like Jaxx ( i know may have issues etc just for example)
and install it on a USB drive will this effectively store my coins offline?
cheers onis
If you have, say, over $300 in Bitcoin (and plan to use or get more), you ought to consider getting a good hardware wallet like Ledger, Trezor and/or DigitalBitbox (or if you are OK with a paper wallet: use that). Because of the multiple attack vectors that thieves and hackers can use, it is smart to have your BTC in more than one wallet as well as more than one medium... |
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FWIW, I just read in another thread that the various major players in the Bitcoin Ecosystem will likely come to an acceptable agreement and implementation of changes by August 1.
There is BIG MONEY involved. Big money encourages stakeholders to keep the system stable. Instability would likely lead to huge losses, and I cannot think of anyone offhand who would gain... Yet, I do understand that more money will be made by certain players should certain things happen.
I do not think that this scaling debate/problem has been FUD as is occasionally suggested.
While I hope for the best, I am preparing for a bad outcome too.
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I am sure it will work out well. It always has, and now that BTC is so high there is much more money at stake. They will likely do it right.
Of course a lot of volatility is expected, as not everyone has unbreakable faith.
Pretty much agree with that. There are business with hundreds of millions of dollars in line! And all those big whales should be mentioned as well! Of course there is no 100% certainty, but for instance if Jihan and Ver go insane and screw it up, these guys are mostly done and will be hunted by one or the other! I still see this all as big FUD. But let's see whow it will play out. In a few weeks we all will know more. maokoto and Denker Your points about the HUGE amount of money at stake do leave me a little more optimistic that the August 1 implementation may very well go OK. So far, Bitcoin has survived other scares and squabbles. Money talks. But, I never saw this as FUD, as it looked like some powerful players in Bitcoin were trying to squeeze excess profit from all the rest of us, and Core did not give me confidence in their communications. As you wrote, we will see. |
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One other topic I did not addressed (directly) above is that there are multiple vectors of attack (various ways hackers ccould get in).
A strong password helps a lot (but not of yoru computer has a keystroke logger, everyone's nightmare...)
A hardware wallet with good password and 2FA is good. Don't lose it! And keep the seed words hidden away securely!
Some online wallets are apparently better than others...
Access by others to your computer is another possible threat...
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It will be interesting to see how it all works out IF there is a split and we end up with Bitcoin Core and Bitcoin Unlimited, we have seen it with ETH and ETC where the original chain is still active but is behind the rolled back ETH.
I wonder what will happen with bitcoin, I would like to think that bitcoin core would prevail as the only true chain and we don't bow down to the hijacking of the original idea.
Yes, I would go along with that. It all comes down to exactly what happens prior to August 1, and how it is implemented. If the developers and/or miners agree on the changes, and if the code changes are stable, then we could have a great outcome (higher BTC prices and more acceptance among new people). It all depends on if and how the experts agree... If they screw up Bitcoin, that would be a tragedy (and big losses for many of us). |
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I do not know anything about gold and precious metals sales in the UK (I'm American), so take this for what it is worth: very little!
Bullion sales is a very competitive business in the USA. The margins are low. My *guess* is that you have to be BIG and have good consistent volume, and that of course means trust and visibility.
If you research the UK market thoroughly and find that NO ONE is selling precious metals via Bitcoin, then you may become the winner.
Alternatively, you could specialize in certain coins (say, Gold Sovereigns, just as an example), rare coins, Russian platinum coins (from 1828 through 1844 or so), etc.
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I didn't know Subway, Wordpress and Wikipedia accepted Bitcoins. I know for a fact none of the Subways in my area do. It must be a test or something in a limited number of restaurants. It doesn't surprise me that Reddit accepts Bitcoin given it is a huge topic on that site and the /r/Bitcoin sub is massive. Fiverr used to accept Bitcoin as of 2015, but no longer does. The first ever transaction I made on Fiverr was with Bitcoin.
Thats right about Fiverr but some Fiverr - Freelancer still accepts bitcoin and about the subways not all subways accepts bitcoin yet,perhaps they will all in due time.fingers crossed Two other fairly large precious metals dealers also accept Bitcoin: https://www.providentmetals.com/https://www.jmbullion.com/I have actually bought from Provident Metals, I pay with BTC even though the price is 1% higher than wire transfer or check price (wire transfers cost money, and clearing checks takes a few days). From order (and BTC payment), order arrive in a week or less. JM Bullion comes highly respected as well, but I have not yet worked with them. |
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Actually I feel a lot more secure after that correction. Usually, I'd say that the more corrections that happen along the way and the slower that the price keeps going up, the less likely it is to drop loads afterwards.
Selling a little bit is fine, but not if you bought fairly recently. HODL most.
Yes,that correction would definitely help for the bitcoin stability.Volatility is the nature of bitcoin.But if we see over all history of bitcoin for a long period,bitcoin price has risen and fallen but it has become stable in price which was greater than the previous price. Back then the price is soaring to a new high and dropping in an unknown value, but right now BTC has a safe zone that we can guarantee that it will never gonna go down that far, and because of the other countries marketcap towards bitcoin we can surely say that the $2000 value mark is a safe zone that we can assure for bitcoin right now, but I really can never tell if it is gonna be the same news after the Split occur. Yes, that August 1 date is going to be important to BTC price going forward. Volatility will likely come back in the coming days leading up to that date if the BTC community has doubts that any changes will be GOOD for Bitcoin and be implemented properly. A lot of things could go wrong. I have no idea what will happen... |
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OK, Zero Hedge has it up, and now bitcointalk.
I guess it's already "gone viral". Let's keep this going. The more the merrier.
I'll put this on my Joke List and maybe FB.
"All publicity is good publicity" is certainly true in this case!
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