Some reports telling that china government's place is second in holding Bitcoin. But we're seeing that china is always publishing negative news about crypto currency / Bitcoin. They've published noticr about banning Bitcoin in a several times. Ref:  https://www.kevinrooke.com/bitcoin. What do you think about this? How are you taking this ban? So since this was as a result of crypto seized by the Chinese Government from "the PlusToken Ponzi scheme crackdown" then I wouldn't really say it belongs to the Chinese Government as if they Invested in Bitcoin and became the second-largest Hodlers of Bitcoin even though it is in their possession. I think we do understand why this is the case since the Government has made its position known about Bitcoin and Cryptocurrencies in general and we see the effect that NEWS constantly cause on the market. I do however believe that all this crackdown on crypto by the Chinese government will eventually come to an end and there will be no more thing to say about crypto anymore in the near future. |
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I believe that you already explained it in my opinion. Seeing Bitcoin as an asset or a currency or even as both is relative. As you said, it depends on how you are able to use it, are you able to use it as a currency which I believe will be the bigger argument here in your respective location and as an Individual or not. Generally, I believe that Bitcoin is more of an asset than a currency even if it saves both purposes since I personally have not really used it for purchases that much. This will be a continuous debate since investors will relate to it differently.
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Hello everyone. Recently I saw many people in forums saying that the bitcoin price is sooo high and it is impossible for us to invest in bitcoin. We are from the middle class, lower middle class, or working class. We don't have a lot of money, so we can't buy a whole bitcoin. Or we can't invest in bitcoin. Now bitcoin is only for rich people. They can invest in bitcoin and we can't. That is why I took a challenge from September 24th, 2021, to see if I could be profitable after investing a small amount in bitcoin. Though I am also not rich, I already earn a good amount of money from crypto. Now I don't want to think about that.
Now I will invest as a job boy or a middle class or lower middle class person. I fixed a budget of $200 per month, but here I will do one thing: I will invest $50 per week. And I won't increase it by a single cent. Let's see if I may be profitable from this investment.
MY INVESTMENT
WEEK-1 (24/09/2021) (BTC/USDT) (0.00121356BTC) $40937
WEEK-2 (30/09/2021) (BTC/USDT) Upcoming
Note: I don't want to disrespect anyone who says that things that they are from middle class or lower class and they can't afford it. I respect all of your sentiment because i am also face that time. That is why i know how painful to live a money less life. I work hard on crypto marketing community and i earn money by investing those money what i earn from there.
This post might be inspire you. So that you can understand if you started with little money today after a certain time you this little invest can be huge. Just look at mine invest only $50 per week but after a year how much it will be if i calculate $200 per month then $2400 per year. But if i want to invest $2400 at a time then i feel little scared. So i hope that you guys will understand todays little investment can give us big amount in future.
Every week after investment i will update on this thread.
And i expected experts opinion on this thread i hope i will get positive response from you. And one more thing remember if you can't take a step today you might reach reach that destination after a day.
While this is a great way to Invest in Bitcoin as I believe I have also mentioned in some other similar post, we would, however, realize that for some, the $50 per week investment is some people's take home for the month and I know this for sure. Most of us that have been into cryptocurrency for a while have come to understand that DCA is the best way to invest especially if you are within the class range you mentioned earlier and if we are able to keep that up for a number of years, we surely will see the profits of DCA. |
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I was just reading a report about BTC , A USA family sell all there assets and with that amount they invest in Bitcoin in 2019. as in 2021 BTC was on its peak ! So they get huge profit.
But as a dump then came in crypto market, for every investor it was really a great shock.
What you people say about this topic ?
Should we invest just like them or should start with a less amount ?
as Bitcoin came down in past months . it can be a great loss for those who invest madly !
Must drop your suggestion !
Investing in Bitcoin is a wise Investment option and Investors must understand and be prepare for the long HOLD. I don't think selling all your assets and investing all in Bitcoin regardless of the potential profits is a wise choice. I do think Investing a good amount of your assets in Bitcoin is good and you must understand that this is not for the quick gains. |
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When i flashbacks far 2013 and 2014, within that range far back i remember how people were castigating bitcoin as a means of extortion of money, and also a means of scamming peoples money, but today everyone is interested to invest in cryptocurrency and more especially in bitcoin, because from what i observed from little bitcoin seminar program i hosted in my geographical domain even a nursing mother that is approximately forty to forty eight (40-48) years is interested to invest with bitcoin and children in school is already knows what is bitcoin, so with this length of bitcoin awareness in my society i think BTC can stay till infinity.
So for others that up till now, the people in their community still don't know about Bitcoin and for the few that knows, half of those don't want to invest in Bitcoin because they don't see it the way we see it or don't understand how it works, does it's mean those people can easily say that Bitcoin will die off in a couple of years because they don't support it? We can never pass judgment like that but we do understand that Bitcoin and Blockchain Tech. are revolutionary and could last a long time. |
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Their level 1 surely is very limited and hectic.
It's like that they're giving a free trial and you still have to comply with KYC for you to enjoy a better movement on their platform.
So you choose, just withdraw and go away or comply and continue to trade and enjoy Binance.
I totally agree with you and think it's just that two ways, you could either just do the complete you KYC and enjoy the full potential of the exchange or you just withdraw all your assets. I understand why investors don't like doing KYC, I don't like it too but have decided to do it for one or two exchanges I fully trade on and just hope for the best. |
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Following the announcement of the Chinese government to ban Bitcoin;
Huobi.com has issued the most tragic announcement to clear all Chinese users.
Will Binance and OKcoin issue the same notification next?
So will it be followed by the cruelest process of suppressing the price of Bitcoin?
Will this be like the end for Chinese cryptocurrency traders? Guess not. I believe that there are other exchanges that you don't need KYCs for to start trading and I do some worth understand that along with these changes, traders can also use VPN. Anyways, I feel for them because their government is trying to cut them off crypto but if it will bring calmness to the crypto space, I guess that's what it is. |
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It won't impact the market that long, what China left behind in demand will eventually be filled by other countries in the near future, plus they've been out of the game for almost a year already and this ban is just the final nail in the coffin.
I agree with you and I believe it is just a matter of time and after China has fully finished all their attack on Bitcoin and the general cryptocurrencies in their country, Bitcoin and all other cryptos will become normal as there might be no more FUD coming out of China. At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.
The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.
God I hope not, but given that China's foreign policy doesn't really involve meddling too much with the internal affairs of a country they're allied with, I think it's unlikely that it will ever happen, they want to be the opposite of USA when it comes to foreign policy after all. True, I don't think that will be the case. I believe the way we have more Influential investors like Billioniers and other bigger Institutions investing in Bitcoin from other parts of the world can not be said for China, so I am guessing this will not likely happen in other countries as it is with China. |
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I honestly think that people are starting to get really sick of China's behavior.
What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).
Should we really expect a bear market?
Was this even new NEWS out of China? I believe that people that want to manipulate the market will continue to put out all this FUD and it is just so unfortunate that with all China has been doing against Bitcoin, it makes it easier to always put China out there because it influences the market quicker. but at the end of the day, Investors should only know how to take advantage of the market conditions whenever the opportunity arises. |
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History has always repeated itself in Bitcoin on the 24th of September 2017 when the china central bank ban Bitcoin/cryptocurrency, a move that sees the price of Bitcoin crashing deep before it recovered after 3 months of struggle to hold its resistance. On the 24th of September 2021 news still, fly around about china banning crypto, which turned out to be rumors and false development that see the Bitcoin price dropping to $40,675 before it gradually rises back to 41k.
It still amazes me how much influence chain still wills when it comes to the Issue of Bitcoin. This just showed that whether it is even fake news or FUD, as long as China's name is mentioned in it is just enough to make the Bitcoin market tumble and it doesn't matter whether people believe it or not like here I don't think the Chinese government has such a big influence on the bitcoin market. Can only one message produce a big decline? I don't believe it.
and the question also is, why are investors so quick to react to this kind of FUD? |
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Recently El Salvador adopted Bitcoin as legal tender. Some sources report that other Latin-American countries are planning to follow suit [1]. I personally feel that Bitcoin is not suitable currency for most types of countries that (potentially) want to adopt it. The success or failure of some countries to adopt any form of cryptocurrency will no doubt have big implications for others to follow. The main reason I made this post is not to bash Bitcoin but so that others here could potentially shine light to the flaws in my reasoning. First off I donīt think that El Salvador or others have the necessary infrastructure present to support transactions in crypto. Research shows that the precent of population using internet in El Salvador is roughly 30-40% [2]. This obviously means that 60-70% donīt have access to necessary prerequisite for crypto. Likewise for crypto to function as a useful legal tender, a country needs to have high level of internet availability. This is not likely the case for most countries looking to adopt it. Secondly I donīt think that most countries have the necessary financial education to support Bitcoin as legal tender. There are some statistics that show that a shockingly small number of people even in developed countries have the necessary skill-set to even keep a balanced budget [3]. As an investment option crypto is risky. I believe Iīve seen it said on this very forum that most of crypto traders lose money. As a currency it is definitely harder to plan around than regular money specially due to Bitcoins volaitility. Thirdly and related to second point is the fact that trading in Bitcoin can be more prone to scammers due to the fully digital nature of the currency and also due to the fact that this currency does not have a safety net provided (albeit at times poorly) by regular banks. I think that safety measures taken by some people in this forum shows nicely how well aware in cyber security one must be to feel safe around crypto. I myself have probably had at least three mini-strokes fearing that I might have sent a substantial amount of money to a wrong address. Itīs a problem that is not as substantial with FIAT currencies. So why is all this important? One can easily say that there is no harm if people have the option to either use crypto as currency but also the freedom to not use it if they so choose. I believe that at least for a time being we will be hearing bad news from El Salvadors crypto experiment. By that I mean of people losing their savings, being scammed out of money and generally having the infrastructure fail. We have one such example already [4]. This will likely create caution for other trying to follow in El Salvadors footsteps. This might have devastating implications for crypto however. Looking back in time people still bring out Chernobyl to this day to justify not using nuclear energy. [1] https://theconversation.com/bitcoin-is-now-legal-tender-in-el-salvador-heres-what-that-means-167099[2] https://www.statista.com/statistics/1055468/internet-penetration-el-salvador/[3] https://www.prnewswire.com/news-releases/3-financial-literacy-statistics-that-need-to-change-in-2021-301246352.html[4] https://www.reuters.com/technology/el-salvadors-bitcoin-digital-wallet-beset-by-technical-glitches-2021-09-10/While some of your points are valid, I will like to confirm to you that this same 30-40% percent of the population that has access to using the internet in El Salvador that makes you think that they are not equipped for it, is also the same percentage of the population that only had access to bank accounts in El Salvador  Source]and they still find their way around using their fiat currency for decades. I would like to see this process as starting a Business venture which the first years are always the toughest and as all in the crypto space have agreed, El Salvador took the bold step in adopting Bitcoin as a legal tender and using their self as the guinea pig for this great experiment and will definitely correct every challenge they will meet along the way. |
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You are not allowed to go outside in the country bringing lots of money. It should only be limited on the intention of your visit. This is why government had task authorities to manange some interviews before they will accept your application to travel outside the country. This include t limit you in bringing lot of money. But what if you are using bitcoin?
Government are unaware of people using bitcoin or maybe aware but has not taking actions in this to avoid making some losses especially in terms of the asset that determine the value of the economy represented by fiat currency.
If fiat currency will be transfer outside the country through bitcoin then it is just like we are selling our asset to other people and that may leave that the countries economy will slowly will going to die. I think this is why the reason that government are requiring known exchanges to do KYC so that they can tract people who are doing this. Besides there are other things that bitcoin could be
getting abuse by the criminals like
* funding terrorist,
* money laundering,
*kidnap for ransom using bitcoin, and etc,
Other than that bitcoin is considered as an asset why?Because Bitcoin is being bought by fiat currency which derive its value like gold. The sad part that I am making some point in my other posts is that
* when you buy bitcoin cheap you earn, while others buy bitcoin which is expensive they lose.
* The rich people could earn more in investing bitcoin while poor people could lose more. (vice versa the rich people may lose more and poor people can earn more)
* the use of bitcoin to travel spending outside in the country is more like selling your country asset and that could destroy the economy of that certain country.
This could be the reason why bitcoin is being ban in other countries because they are protecting their economy against bitcoin.
US dollars had been bought through bitcoin and exchange it with dollars. There is a news that the US government had limit the community the use of cryptocurrency because there are some country that are eyeing to use cryptocurrency to extend their purchasing powers of dollars and that US government does not allowed or make it happen. The US asset is somehow being sold by people who buy cryptocurrency and that is why KYC is being implemented and other altcoins project are not accepting US community to invest in their project because they can get penalized by the US government law I guess.
Frankly speaking, I don't see any argument here against Bitcoin except usual speculations. You said, "There are other things that bitcoin could be getting abuse by the criminals like" * funding terrorists, * money laundering, *kidnap for ransom using bitcoin, and etc, So Bitcoin has been in existence for about 20 years and before that, we know vividly now that, *terrorists were been funded then, with what? of cause, not bitcoin *monies were been laundered and definitely not with Bitcoin *Ransoms were also been paid for kidnap and that too was definitely not with Bitcoin. In fact, I can categorically tell you that if you have been following news around the world and you have been paying attention to Nigeria, you should know that, this is like the hottest location with one of the highest rates of Kidnapin now and none of the ransoms that have been paid thus far are with Bitcoin, all still with Fiat. |
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to many bad experiences.
and to think that i was about to overthrow the eur and usd in favour of crypto, whenever someone would want to do the same they would have to get throught me first.
I really don't know what are these bad experiences that happened to you with Bitcoin or cryptocurrencies in general but for me, I knew from the first time I was introduced to cryptocurrency that I was not going to leave this space again. Like some have already mentioned, if you don't share your problems you cannot get a solution and I hope you did not invest in some scam projects  |
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I seen that cryptocurrency want to be highjacked by rich people, looking around countries currently, its noticeable that bitcoin increase everyday, every week and every months, the more rich people are investing with cryptocurrency the more government attacks cryptocurrency, most countries that values crypto today is having challenges with government, since bitcoin is important to the extent that top people invest on bitcoin why can't government alone adoption of bitcoin.The Rich's are causing eradication of cryptocurrency
Across the world.
* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
Well, fortunately, or unfortunately Rich people will always or are always looking for what is the next viable Business venture to engage in to further increase their wealth and Bitcoin has proven to be that investment in the past years. So I don't see them as the problem to cryptocurrency and especially Bitcoin, however, the Government do understand what Bitcoin and the general cryptocurrencies stand for, Financial freedom from the Government and they don't want that to happen hence the constant attack on crypto. |
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Here is really a good news for us .With the new FASTag feature, users can choose among 17 operators and enter the vehicle registration number and FASTag top-up amount, which can be anywhere between Rs 100 to Rs 10,000 worth of Bitcoin. source @yourstory, I still see some issues with the news you've provided a link to. After reading the article, it became clear that you have to use unnecessary intermediaries to pay highway tolls. For example, you have to trust Unocoin Wallet with your bitcoins (please note, they stop being yours after you handed them over to a third party) because they will have full control over private keys unlocking bitcoins on your balance. This means you are not using bitcoins here, at least you are not using them directly for payments. Bitcoin was meant to minimize counterparty risk or avoid it completely, but in the case of Unocoin Wallet, the risk still exists. It doesn't matter how reputable this exchange is or how long it is on the market, it will freeze your funds should the Indian government changes their mind and banned bitcoin entirely. Moreover, why spend bitcoin on small payments if you can easily pay your bills with fiat? I understand your general concern about "Not your keys Not your Coins" but I would think that The National Highway Authority of India would be an Indian Government body in charge of transportation  and from this quote " The National Highway Authority of India operates FASTag as a mandatory payment system to enable contactless toll payment for vehicles." it would seem as though the Indian government has some sort of approval for this operation. However, I would also think, individuals, can only credit the amount of bitcoin they would need at a time for safety. |
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You are right, I am not only with Bitcoin, because those who have something to invest in do so without thinking about it in BTC, when they go up in price they obtain large profits, of course according to their investment, if the investment is large it gives greater benefits, another of The things that I have seen the most in crypto that make profits are those that buy in pre-sales, and that sell in the public sale.
I have seen these options in both betatest and NFT game projects, which are very fashionable now, in this way it is what I have seen that all the knowledge of commerce applies. Well.. I agree partially with the pre-sales part. But remember that there is no guarantee that you should always end up with a profit. There are too many scam projects coming online recently and if you go for pre-sales, then you will end up with a loss. I don't understand the need to go for new projects and NFTs, when we already have so many established projects to chose from. Even investing in Bitcoin should return 5x-20x profits in the next 4-5 years. That is still much better when compared to the potential returns from stocks or any other asset for the same duration. I agree with you too on the pre-sale investments but we must understand that these are the type of risks investors are willing to take to make profits in the cryptocurrency market. However, investing in some pre-sales has actually proven to be profitable in some projects whilst some investors have lost heavily with that, hence the need to DYOR about projects you are investing in. |
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Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
 Are you hoping that Bitcoin was a Scam? this seems like what those people that are against Bitcoin would want to think. OK, so we already know for a fact that it is not a Scam to trying to speculate and calculate how long it would take to get out is unattainable so it defeats the purpose of trying to assume what you know it's not. |
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The market seems to be bleeding now, Bitcoin is only down by 8% at the moment but major altcoins are down double digit. https://coinmarketcap.com/
Will this be the start of the bear season?We haven't witnessed a long and major dump this year yet, so seeing this might cause some panic especially on the altcoins holders as they are the ones who will significantly be affected since we know what would happen to altcoins if bitcoin struggles. As per Binance exchange, the 24 hours low of bitcoin is $42500, so what's next? https://www.binance.com/en/trade/BTC_USDTThis is the thing with Investors.  Back in May 2021, we had a Bitcoin price drop of about -51% for about 71 days, and then investors were saying that this is the end of this year Bull market until it went up again and for this drop, even if we take it back to since 06 September 2021, it was only dropped about -22% and just for 18 days and here we are again thinking it is the start of the bear season. The market will always correct. |
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1. If you are in for the tech, what is the problem your favorite project is solving?
2. If you are for the profit, how are you generating one with the coins in your portfolio?
It was at the beginning for the profits because I did come to find out how much profits is there to be made over time investing in crypto and my earliest investments were basically on Bitcoin/Ethereum though over time have invested in other coins/tokens too and most say that it has mostly paid off. 1. If you are in for the tech, what is the problem your favorite project is solving?
2. If you are for the profit, how are you generating one with the coins in your portfolio?
In terms of cryptocurrencies of course I am more interested in the technology being developed. Because the blockchain system will be one of the technologies that can facilitate transparent transactions. And I think that blockchain technology will be adopted as one of the technologies that can replace Fiat in the future. Of course, whatever we do is inseparable from the benefits we get. No one wants to do useless work without expecting profit behind all that is done. I just hope that the presence of blockchain technology can facilitate high-to-low-level transactions. Not only to buy Tesla but also can buy candy.  because my decision why here only to earn much profit, I think is bullshit with technology adopted in cryptocurrency and many coin showed they have apply with real technology, just promoting only how to make many investor interested with their coin but beside on this progress only get profit from investor, just take care always buy coin on dip price and sell later when up and never care although have real technology adopted. It is ok to speak your mind there but you must understand that it is the technology behind Bitcoin that made it what it is (a decentralized financial Instrument) and if not for that, you wouldn't have had the opportunity to "earn much profit" as you put it. Yes, some of us still don't fully understand and appreciate the Tech behind it but we cannot discredit it either. |
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I am away from my home working in an office and it is hard to manage both work and house at the same time for me as i came late from office. So most of the time I order food online say 3-4 times in week and was happy with that until the point i realised that i was wasting lot of money on junk food. So i decided to have my future plans as i was already investing in bitcoin so i decided to reduce my weekly budget for ordering online food and decided to invest that money into bitcoin despite the prices and just go on investing till the time being. But i made a plan that every time i would add on the fixed budget of $10 extra to btc investment and from next month increased my intial investment by $10 also.For example say my weekly budget or food expenditure was $40-$50 weekly on my 3-4 order i would reduce it to half and say invest $25 weekly and next week it would be turned to $35.Along with this I was also planning to buy some gaming stuff for my time pass but i dropped that idea for the same reason and decided that i would keep on investing in bitcoin only not any other altcoin also .So this was my plan and investment was done every week.
1st Month Investments
Week Investment Bitcoin aqquired At price
Week 1: $25 0.0005 $49150.53
Week 2: $35 0.00094 $37002.44
Week 3: $45 0.00114 $39294.20
Week 4: $55 0.00147 $37575.18
Total 1st month bitcoin investment in my portfolio stood at : $160
How much btc were bought: 0.00405
2nd Month Investments
Week Investment Bitcoin aqquired At price
Week 1: $35 0.00093 $37345.12
Week 2: $45 0.00117 $38347.06
Week 3: $55 0.00163 $33723.03
Week 4: $65 0.00185 $35040.84
I feel this is a pretty good long term investment plan and I am getting an idea for my future, this long term investment habit is a pretty good habit, it doesn't give us returns in short term, but in the long run, it will definitely be a good future. I agree with you but the problem has always been some of the investors today don't understand that Bitcoin investment usually is for the long term and doing DCA regardless of where the price also does pay off in the long run. I believe this small example has also shone some light on why DCA is one of the best ways to invest in Bitcoin for the long term. |
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