Please help me make clear idea about how good bitcoin is to be a digital asset as we become old in the future, and this served as our lifetime asset same as pension when your retire from your current job at the age of 60.
Bitcoin can be a digital asset, we cannot tell exactly what will happen but there is this huge possibility of bitcoin being an asset in the future. Ah, how great things would be when you retire, your company will give pension or gratuity and at the same time you have bitcoin in your wallet and you can cash it out or you can pass it out to your children for their future. |
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I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Really 6 months jail? Damn. Maybe because of the fact that bitcoin is very much new to the markets a few years doesn't matter for them, and maybe also because of the fact that bitcoin reached 5000$ when no other currency reached that amount. |
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As we enter 2017, Bitcoin begins with a fresh start making it worth nearly $1000 per coin. Users, banks, and even governments are becoming more interested into Bitcoin, and its underlying technology called the Blockchain. Now, as we progress into making Bitcoin more scalable and efficient than ever, I would like to know what are your thoughts for the pioneer cryptocurrency in 2017? If all goes well for Bitcoin this year, it might increase its value more than $1000, as well as become closer to being used as a mainstream currency. What do you think?  Bitcoin has achieved much more than expected. The price increased from around 1000$ and reached up to 5000$,and again went down because of rumors being spread all over the internet ,and more are going to come in the future. As far as bitcoin is of concern, we are going to see a lot of changes taking place all across the world soon related to crypto currency. |
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i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?
Not necessarily only the rich need to possess bitcoin in the future. Bitcoin wasn't developed for that purpose ,and bitcoin is referred as virtual gold, so not a lot of rich people own or use bitcoin ,so you and most of the people who currently use it have a chance of being a millionaire. And about bitcoin being replaced by another altcoin it's possible for such a case to be valid. |
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Do we have a universal wallet that we can use to any bitcoin and alcoins?
Bitcoin and altcoin same wallet? Nah, and it would be kind of bad and good at the same time, for receiving payments everyone would like to have a single wallet and receive all coins in it instead of having more than 3 -4 wallets, but at the same time every thing will be so conjusted if all coins are there in a wallet. Sometimes it's better for the things to be the same old way. |
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It seems there are bad news all around with doom and gloom. Trade figures going down, jobs cuts, security situation not going well, and bad loans.
Is the economy situation in your country that dismal? Or this is just some fear mongering?
Terminations happening every day, stocks being more volatile than ever, cost of living getting costlier by the day, education fees and healthcare fees are also getting high ,and the pay, nah that's the same, they don't increase it also. Plus if you want to take a loan, most of the banks charge more than 40% interest per annum. I hope this answers your question. |
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If Bitcoin goes up very high should i buy a house?
Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.
Yes, why not ,even though the idea seems ridiculous, you can go for it. Food ,clothing, shelter are the three main basic sources that every human needs and if you can buy a house, then you can easily take care of clothing and food. About landlords they are doing this because they also want money for their basic needs and for their family, it's your wish on how you want to spend your bitcoin on, but just make a wise enough decision which you will not regret later on. |
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Reason is simple:
It has been TWICE that china got burnt on BTC, selling as low as $3,900 last weekend, and as low at $4,100 today.
Every time, BTC showed strong resilience and systematically went back up in the $4,400
Lots of Chinese traders lots money, and WILL want to make this money back... spreading FUD and fake news on BTC.
Just be ready... hodl or trade... but it will happen again.
Obviously, that's one of the ways on how investors influence the market, they spread FUDs and people are stupid enough to believe them because, people think that investors have enough experience to know how a market functions and they should believe in it also because of media spreading the news. So like it or not the prices will crash yet again and we can only try advising people, as we cannot force anyone as per our terms. |
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According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.
I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.
Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?
Mate, bitcoin doesn't work like that, the more you panic and sell, the more the price drops, and when the price drops investors buy as much as they can. Most of them who panic and sell, sell in small amounts and then the investors buy in big amounts, and as it always has, investors get more profit. Panic selling will be one of the worst decision that a person would ever make, even though after knowing about bitcoin. |
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I just always wonder if those billionaires still invest in btc. Do they even know btc exist?
Of course they do know that bitcoin exists, in fact they buy in bulk amounts of bitcoin when the prices drop. One such person, or should I say a big institution named JP Morgan who said bitcoin was a fraud and it will blow up soon enough, well after that the prices went down and then you see JP Morgan investing a huge chunk of money in bitcoin ,plus this was a long awaited plan, they saw China was making regulations, they laid down their evil minded foolproof plan and it worked out amazingly well for them, gotta give it to you JP Morgan. |
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I and many others just hold their bitcoins and wait till it gets worth more. But that is not how a currency should work. A currency is meant to be used in daily trades for groceries and so on. My question is how can we push the actual use of the bitcoin and what is nessacary to do that ? I think first, we should wait till the scaling problem is hopefully solved in near future, because right now even if I had f.e. a grocery store, I would not accept Bitcoin as payment becasue of the confirmation time of the tx (I would hand out some coupons which can be bought for BTC) After this problem is solved this would be my ideas, I hope you help me gather more: - Convince organisations like amnesty international to accept bitcoin as donations
- Convince big internet companies like amazon to accept payments via bitcoin, this should take a while but with some petitions they might consider it (propably better starting with some smaller companies)
- Start accepting bitcoins yourself, not only on the interent but for example if you are a student and do some private tutoring, and have a small ad for you on a blackboard somewhere, you could print a "Bitcoin accepted" on it.
The thing is centralized organizations control people's minds most of the time, and if a grocery store starts accepting bitcoin as a payment mode, soon more will join and the more big the group of bitcoin accepting merchants get, the problem will be for the government as this would affect the economy, because there is not tax on bitcoin,if you just do everything for yourself and do not contribute to the government, the government will definitely take some action. |
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Hi,
Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!
What went wrong> And more to the point, who is responsible? What can be done to fix it?
Thanks
Andy
Not only the transaction fee has increased, even the price of bitcoin has increased which made people to think multiple ways to get some profit, especially after the August 1 scenario, bitmain has continued it's support for bitcoin cash and ant pool released this thing called ant miner which enables miners to switch between bcc and btc to get maximum profit. Tactics do play a key role in here. |
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So where should we invest bitcoin to actually earn some profit and increase the amount of bitcoin we own, is there any legit place?
I mean cloud mining is a scam but there must be something else we can actually do right?
Well you can try to invest in icos or trade bitcoin and altcoins or, if you have time you can play with the stock market but its too risky to be honest, and or you could give a loan or something and get interest, or you can start your own business for offering your services but then the capital should be sufficient enough for a business to be good enough. |
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Bitcoin is usually used by people interested in technology. I mean, persons with a certain technical knowledge are interested in bitcoin.
My observations are that way. I think Bitcoin needs to reach larger quantities. Can use bitcoin in people who are not interested in technology?
Can people use the bitcoin in the profession group like tradesmen, teachers, housewives, firemen, butchers? Are we going to see the days that these people use bitcoin?
You do make certain point about people using bitcoin because they are interested in it,normal people will find it difficult to use bitcoin if they get involved in trading or something,so they would require to have a broker/agent who will work for them and get paid some fee ,but again bitcoin was developed to make sure peer-to-peer transaction takes place and eliminate the use of middlemen,but yet there is use of middlemen here. |
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Bitcoin as a course or any related currency on web.
In my country we have multiple courses in computer especially programing and web developments. My course is also information technology, but i've never heard or learn about online currency as bitcoin. In present, and future studies is there any chances for inserting about it in education. In your country is it available?
It would be better for any country to adopt bitcoin in educating new generations. Instead of playing games and wasting money in surfing xxx sites.
I once came across this advertisement where one university was making a presentation for new students based on crypto-currencies , I am not sure whether or not they have a subject based on crypto-currencies but most probably it was just a presentation for freshers and nothing much.I believe that will at least help a few people who attended that seminar but most of students don't like seminars and sleep during seminars,I have my personal experience for that. |
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What If Bitcoin is banned in your country will you still use it?
If you use it how will you? How will you exchange it and how will you completely use it as you do before.
You make a fair point ,if a country bans bitcoin,even if you use VPN/proxy to hide yourself from using it,when you have to cash out, the country that has banned it will ultimately find out,but there is an exception,if someone trust worthy of yours resides in a country where btc is not illegal or banned,then he can cash it out from your behalf and then he can remit you the money and remittances are not a problem as they are transfer income and they are not counted when national income or GDP is of concern. |
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Forget about everything else and just put everything on bitcoin. You are living with your parents, they pay everything for you, you got nothing to lose. If I was living with my parents, I would save everything and buy bitcoin monthly. If BTC doesn't keep rising you can still reach the 21 BTC holder group, then save this and retire in 10 years when the price makes you a millionaire.
Go all in on regret later. You are on a privileged position to profit from high risk high reward moves. No risk no win, and BTC is the best long term high risk bet.
All sounds well and good except that where will you get the money? Why will the parents give money to children, say per month they give like around 100$ for their tiny expenses, what will be left and how much will they invest, if parents are on with the idea, then there shouldn't be a problem, but if they don't then you cannot force because situations vary from house to house. |
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Its really good to ,you know kind of be relieved that bitcoin has started to recover and along with it alts are also starting to rise.Tired of seeing people panicking on the crash all over the internet,people need to maintain their behaviour big time. Other wise not only this forum but the whole internet will be filled with trash asking on what to do about the recent crash or when the will the price go up or even worse things.
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Savings in banks Deposits in banks Property investments, such as buying property (land and buildings) are then leased or resold after some time later. Gold investment, such as buying gold and then stored for the long term. May be useful in the long run. and produce a decent and satisfactory. or farming to buy sawan and gardening and planting fruits and vegetables is a very good investment. Although a little vulnerable to failure but it could not hurt to try.
You can go for bitcoin investment if and only if you won't have any financial difficulties because of the money that you will put in it and you are good with tech-related stuff and you have to know that bitcoin's price is highly volatile and if you start panic without knowing the reason and you sell immediately then you will be the one who will have to bear the loss. So if you think you can manage all this ,then I don't think you will have any problems. |
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Good news.BTC price is recovering and its now $3,390.I think the panic drama has ended and ray of hope is seen once again.
BITCOIN - UNSTOPPABLE
Not to mention because of bitcoin's recovery has caused alts to go up as well ,so to all those who think bitcoin will never survive or recover ever again, you were wrong and your theory if bitcoin going under 1000$ or even less, know this for a fact it's next to impossible for such a thing to happen. |
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