Trading and mining, both require different skillset.

Doing a successful altcoin trading isn't easy. The crypto markets is fast paced, volatile and is full of shit and dead coins where some are even scams. You need to be good at chart reading and should be able to see the peaks and troughs as they develop. It is possible to earn money quickly here if you stay focused on the movement of many coins at the same time and keep moving your investment around. This will need time to get perfect at and patience is a key.

Now lets come to Altcoin mining. Altcoin mining, unlike Bitcoin mining (where electricity costs, funds availability, and mining hardware are all factors in determining if Bitcoin mining is worth it) simply requires funds and research. Mining is a long term investment. You pay for your hash rate in your chosen coin, then sit back and watch a small amount come back to you each day. Mining is less riskier than trading but profit are minimal. For better profit, mining coin at launch time can earn a good profit. But it is a lot riskier.

I would like to say that, if you want higher profit, can bear higher risk and good at analysis, you can go for trading. If you want little profit coming to you every day with less risk and have technical knowledge, then go for cloud mining (most probably in the first year of mining you would only be able to earn the initial investment you put into mining but can make profit in coming years).

I would like to join the contest and will work upon it. But I think you should wait till the last date and make your decision based on all the entries because a good looking landing page would certainly need time and I think that would be fair too.

There is indeed a threat to SHA256, which is heavily used in Bitcoin's mining process from Quantum computing. Bitcoin would be vulnerable to some variation of Shor's algorithm and quantum computing. But with time Bitcoin will change and get better in terms of security and encryption as there will always be a reasonable algorithm which will be safe from Quantum computing and bitcoin will shift to it. Thus, it will keep on existing.

Bitcoin being decentralised will remain a chaos. Just because it is decentralised, for making any major change we need to have a majority which is not the case in centralised currency. A central authority has the major right and changes could be made without anybody knowing anything. But in Bitcoin, everything is transparent and open to discussion. This over complicate things because people start speculation. On one hand this is advantage but on other it creates confusion in not tech people. But I think bitcointalk or a just a google search can help people to solve their problems regarding all the new chaos and confusion related to technical aspects.

Bitcoin being a technology inclusive currency. I think we can't really escape from technical aspects of it. We as a community should help each other and make the situation clear for non tech people and we at the most part are doing that.

I have very well stated that it indeed have created opportunity for new business ideas and for miners and programmers ( who with those skillset would have done many other things too). But most of the community use Bitcoin as a source of investment or do some small tasks which can't be termed as employment. So, bitcoin as major doesn't eliminate unemployment.

I agree to this. Unemployment is much bigger problem than what Bitcoin can solve at this particular time specially in African and Asian countries. Bitcoin can very well be used as an investment asset or for side earning but not really as permanent job for most.

Username: iram1011
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Thank you.

Any new technology is always first used by criminals. For example, cell phones, internet and paypal. There is nothing new in that. Cyber cells always finds a way to tackle it as those technology are required and can't be eliminated on the basis of criminality.

Regarding, bitcoin being used in criminal activities. It is not more of advantage than any other currency. Any currency can easily facilitate crime. It is just like people usually connect it with black market and criminal activities because of initial records (specially those who have never used bitcoin really and live on the news).

Why people forget that Bitcoin is pseudonymous and not anonymous. All of your transactions will always be there on blockchain and that too on open ledger which is accessible to law enforcement agency regardless of borders or any law. Bitcoin is still new and cyber cells are still learning about it. They will improve with time.

More the people will learn about bitcoin, they will get to know how bitcoin is more useful to cops than to criminals.

That is indeed risky but most of the time changing one character doesn't lead to other wallet's pvt key. I don't know your case but I never saw anything like that before.
Well we have a working solution for it, use keystone file and you are much more safe than pvt keys.

Actually the problem lies in Bitcoin itself. Bitcoin has a limited supply and thus has inbuilt deflation. Each bitcoin will be worth more and more as the total number of Bitcoins maxes out. Since each bitcoin will be valued higher with each passing day, the question of when to spend becomes important. This way Bitcoin largely becomes an investment asset through which investors can earn higher returns (then why not).

Even if some bigger merchants and sellers start accepting bitcoin. I doubt people will be willing to pay in bitcoin when fiat, an inflationary currency is an available option.

You indeed have very well explained pumps and dumps. But what I want to add is Pump and dumps are not termed as scam in a Decentralised market as cryptocurrency market where there is no rules and regulations. It might be unethical on a human level but not scam. Nobody can really questions those admins of pump and dumps group sadly. Traders themselves need to be bit cautious while trading.

Actually it is not bitcoin which reduces unemployment. They are people who are creating various employment opportunities using bitcoin (or cryptocurrencies) as a medium. At most of the part bitcoin doesn't help in employing people directly. I regard it as a medium not the one which generates job. Leaving some entrepreneur and miners, everybody else earn Bitcoin as a side earning by doing some small tasks which can very well be paid in any other currency as well (we just using Bitcoin as a medium).

I agree there are cases where people are earning well in bitcoin. But think, can't those jobs be paid in any other currency as well.

I think that cryptocurrency market is quite uncertain. There are lots of pumps and dumps going on. Traders are generally unaware of the possible reason for the fluctuation of cryptocurrencies. That is the reason for underperforming or loss in crypto trading.

This also differentiate crypto trading from forex. In forex trading there is not much uncertainty and with keeping an eye on latest trends and news, trader can make a better decision. But this doesn't really happen in crypto market which is full of shit coins and are generally driven by whales. Only some major cryptocurrencies are driven by news in market. But they don't always give high profit. They are bit less volatile as compared to other shit coins.

I wished it was that simple. You were lucky enough to bet on right currency at right time. There are tons of available currency. Most of which are scam and dead and mostly driven by pumps and dumps. Making a right choice is quite difficult.

Less than $1500 might be possible in case of chain split and any of the two blockchain doesn't have major consensus. In that case there might be half supporting the new blockchain and other half the older one. Splitting of bitcoin in two chains with equal value will create a chaos and major price drop as both of them will now compete with each other for being major one.

However, this scenario is least possible but still chances are there. At present all we can do is to speculate. Picture will get clear after August 1.

I am dividing my investment ( only what is invested in bitcoin at present, not altcoin investment) in three parts ( not necessarily equal parts)

First part I will invest in any of the top 3 altcoin before 1st August. Because most of people speculated that price of bitcoin will drop after 1st August. Even I have searched a lot and came to conclusion that there are two possible scenarios at present. One being UASF with Segwit2x. This is better one as majority will support new coin in case of chain split and thus price will recover soon. And one UASF without Segwit2x implemented. This will lead to more drastic chain split which will take some time to recover. As the bitcoin will be facing a price drop, most of the people will shift to some altcoin (possibly top ones), thus we would see an increase in price of some altcoins. And after that we can buy back bitcoin at lower price in August.

Second part for bidding on some new altcoin which posses some good potential. There are many on my list and there is major drop in the price of cryptocurrencies (best time to invest) as most likely it will re bounce after pictures gets clear with Bitcoin.

Third part will stay in bitcoin in secure wallet with private keys. I am not abandoning bitcoin completely. I know there would be a dip. But still anything can happen.

In short I will diversify my investment that was earlier with bitcoin. Thus, not making an overall loss in case of any above scenario not working.

Actually the thing is that if a split occurs, bitcoin will likely begin existing on two blockchains in parallel, resulting in two versions of the cryptocurrency. If one of them will get a clear majority from miners in a coming time then that coin would regain its value and hence everything will come back to normal.

I don't agree with you that bitcoin will not go any lower.
If a split occurs, bitcoin will likely begin existing on two blockchains in parallel, resulting in two versions of the cryptocurrency. Expect traders to quickly re-price the value of both, likely leading to massive volatility. This scares community and hence results in panic selling. Most of the bitcoin holders have already temporarily shifted to altcoins till the events unfold and some clearer picture comes out. Price is set to dip after Segwit. It will definitely recover but after a short while.

This year will decide the future of Bitcoin. Segwit is quite a big event happening in the history of bitcoin. There are two cases, either activation of UASF without Segwit2x or with Segwit2x. There will be a huge dump in price in both the cases ( might be of 30-40% ). But with latter, the price will re bounce soon whereas it will take quite a more time to get back to its initial level with the first case.

Altogether this year will decide many things. If it all went good. Then we will see a major demand by the end of the year and might be a major hike in price too.

Bitcoin has changed many things on global level without any doubt. On the personal level, it has changed me in entirely different way. Before bitcoin I had zero knowledge of investment, economics, trading. I was indeed good at computers and its technical aspects. Now after spending two years, if not perfect but still I am well versed with many of the economic concepts and earning quite well and helping others too.

Investment strategy changes according to circumstances and time. At present, with lots of uncertainty in bitcoin market and price is set to experience a dip after Segwit2x and UASF because of panic selling, be ready to sell your bitcoin and buy any of the top 5 altcoin before 21st July. Altcoin will increase in price with devaluation of bitcoin. In August buy bitcoin again at lower price. This way you can make double profit.

What all I can say is keep a look on market and some major news, then make your own strategy.

Many more companies would start accepting bitcoin soon. All what is needed is to increase the use cases of bitcoin. The main obstacle is slow transactions and high fees. Let see what happens after Segwit2x. If everything goes successful. We will see fast transactions and low fees. Then bitcoin can truly be used as a currency and so will increase its acceptance.