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1101
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Economy / Trading Discussion / Re: I want to invest in BTC should i do it now or wait til after August 1st?
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on: July 10, 2017, 04:47:55 AM
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WAIT.
There would be lot chaos after implementation of UASF if it gets implemented without SegWit2x and there would be a price dip (could be slightly long term) which can even go to 30-40%. If Segwit2x gets implemented before the implementation of UASF. Dip would still be there but would be for short term. In both the cases you will have a good opportunity to buy bitcoin.
At present invest in any top 5 altcoin. They would definitely rise in August because of devaluation of bitcoin. Earn some profit from there and then buy bitcoin in August at lower price.
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1103
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Economy / Trading Discussion / Re: How do you deal with loss?
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on: July 10, 2017, 03:07:04 AM
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Whenever you encounter a loss in trading, always take a break either to learn some new techniques or introspect the mistakes you made. If the losses make you even more hungry for profits, resist the urge to make everything back and more RIGHT AWAY. Better have a short break.
One and foremost rule of trading is NEVER PUT YOUR WHOLE AMOUNT IN ONE COIN, NEVER EVER. Always try to diversify your holdings. This is one of the best way of handling loss in trading.
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1104
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Economy / Speculation / Re: 1st August questions - can you invest safely?
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on: July 10, 2017, 02:57:17 AM
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There is lots of uncertainty. August 1st is bringing UASF and if SegWit2x get implemented before it successfully then we might see short term dip and bitcoin will recover eventually. But if SegWit2x doesn't happens before USAF, there might be a chaos and it would leads to a slighter long term dip. So, what you should preferably do is either hold your private keys and have patience ( for long term holder) or shift to another altcoin for a time ( short term holders) if you want your money in next 3-4 months. There might be a dip of even 30-40% because of panic selling. Some major Altcoins would rise with the devaluation of bitcoin. So it is all upon you. I would suggest don't buy right now.
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1105
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Bitcoin / Bitcoin Discussion / Re: Can Bitcoin make Banks disappear?
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on: July 10, 2017, 02:18:49 AM
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Banks aren't sleeping. They are paying close attention to Bitcoin and its growth. They are not doing anything at present because its adoption rates is miniscule as compared to fiat.
Another thing is they both are different in so many ways. Banks try to maintain financial stability of a country and provide many other services such as of mortgage and lending. Which bitcoin doesn't. But cases like of Greece, where banks put money ahead of people for their personal gains are prevalent and many places corruption is also high. This strengthens Bitcoin and makes bitcoin an alternative to banks.
But Central banks are currently the dominant structure nations use to manage their economies. They have monopoly power and are not going to give up that power without a fight and Bitcoin market cap is still very less for making any significant change.
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1106
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Economy / Economics / Re: How long could bitcoin last?
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on: July 10, 2017, 01:40:28 AM
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There are number of factors which will decide the fate of bitcoin. The demand curve, Utility, Security and most importantly sustaining its position in the financial landscape.
Nobody have mentioned it here, but I want to bring a different perspective to this discussion. What if some new and completely different kind of currency came into existence in future that is more reliable than cryptocurrencies as technology and invention will not end on cryptocurrencies. There is more to come. Thus, I would say nobody can really predict when bitcoin will end.
Anything can unexpectedly surprise us.
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1107
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Bitcoin / Bitcoin Discussion / Re: [BREAKING NEWS]: Wall Street Predicting Bitcoin To Hit $55,000 In 5 Years
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on: July 10, 2017, 01:22:41 AM
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It might be hard to believe for our bitcoin community as the price is ridiculously high. But the thing is bitcoin community and market cap is very less right now. Bitcoin community being a size of 5 million or less (less than 0.1% of world population). There is huge market available outside. With countries making bitcoin legal and many retailers and merchants accepting bitcoin. Bitcoin will become worldwide phenomenon. Users may rise exponentially. Price will rise with the same pace. $55,000 is possible.
Let us assume that all of the countries will legalize bitcoin in the next few years and as you expect the price will continue to rise exponentially ,but what makes you think that it will attract new people who are yet to start using bitcoin if the price is really high ,i am sure people would not invest in bitcoin for such a high price to use it to purchase goods in the local market.  These 7-8 years of bitcoin can answer that very well. How price increased approximately 20,000,000X since 2009 till today. But are there any less numbers of buyers? Definitely a big no. Today people might not able to buy a whole bitcoin. But they can buy in Satoshis and can still earn a good profit by investing in bitcoin. Same will be the case in future. This is all because of its limited supply and demand will always be there no matter what. Hence, I believe bitcoin will remain an excellent investment for a reasonably long time. |
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1109
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Bitcoin / Bitcoin Discussion / Re: Why bitcoin is not supported in some countries?
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on: July 09, 2017, 02:55:12 AM
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There are few countries which are wary of bitcoin because of its volatility, decentralized nature, perceived threat to the current monetary system, and link to illicit activities like drug dealing and money laundering. Some of these nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and usage.
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1110
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Bitcoin / Bitcoin Discussion / Re: [BREAKING NEWS]: Wall Street Predicting Bitcoin To Hit $55,000 In 5 Years
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on: July 09, 2017, 01:58:36 AM
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It might be hard to believe for our bitcoin community as the price is ridiculously high. But the thing is bitcoin community and market cap is very less right now. Bitcoin community being a size of 5 million or less (less than 0.1% of world population). There is huge market available outside. With countries making bitcoin legal and many retailers and merchants accepting bitcoin. Bitcoin will become worldwide phenomenon. Users may rise exponentially. Price will rise with the same pace. $55,000 is possible.
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1111
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Economy / Speculation / Re: Hash rate increased by 30% this week.
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on: July 08, 2017, 03:48:46 PM
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I agree that Hash rate increase can lead to increased investor confidence in the currency which would increase price, but they can also drive miners on the edge of profitability out of mining and potentially even Bitcoin, decreasing the price. (less participants in a market generally leads to price decreases, though not always). So, I would say lets wait and see what happens.
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1112
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Economy / Economics / Re: bitcoin benefit of saving for a long time?
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on: July 08, 2017, 03:38:53 PM
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Let me share my experience with bitcoin holding. I am not holding bitcoin for a very long time but yeah for two years. I have turned my initial investment to approximately 9X ( the best return any asset has to offer ). Now I am thinking of starting an online business which will need some initial investment. Now I can fund it myself as I have enough bitcoin with me.
So, here coming to your question. Holding bitcoin for a long time can give unexpected returns which you can use at right time.
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1114
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Economy / Speculation / Re: Are declining stock markets good or bad for Bitcoin?
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on: July 08, 2017, 03:03:19 AM
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In the past few days many stock markets have fallen worldwide. There are many voices that expecting a strong correction and a coming bear market. I wonder if falling stock markets are good or bad for Bitcoin. Normally, money that is no longer invested in stocks is to flow into other assets. Bitcoin with its rapid rise would certainly be attractive. What do you think?
I think it would not affect bitcoin at all, since stock market and bitcoin is two completely unrelated things so even if stock market falls, bitcoin won't rise or fall. It would only affect bitcoin if many who sold their stocks got interested with bitcoin but for now I think the current state of bitcoin would not attract many stock market investors. Exactly, I fail to see any correlation between Bitcoin and Stock market. They are independent, only similarity is they both are investment asset. Many people argue that if Stock market fails, there are maximum chances of people turning to Bitcoin. But the truth is bitcoin community comprise of less than 5 million people. There are high chances that most of the stock traders wouldn't be knowing about bitcoin and some who knew wouldn't just jump to bitcoin instantly. |
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1115
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Bitcoin / Bitcoin Discussion / Re: Will bitcoin be used to support terrorists?
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on: July 08, 2017, 02:56:54 AM
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Offcourse bitcoin can fund terrorism just like any fiat. Let me make it clear that the main funders of terrorists are none but governments of many countries. Such governments can easily fund terrorist with fiat without getting caught as they are in direct contact with them.
Now lets come to bitcoin. Bitcoin can indeed be used to fund terrorism, but there will be a path; the path may well be encrypted, but there will still be a path. Bitcoin will present tools that the state may well choose to use to track terrorist funding. Which wasn't possible with fiat.
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1116
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Economy / Speculation / Re: Bitcoin prices may hit $1 billion - Fox Business Speculates
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on: July 07, 2017, 02:09:00 PM
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Please at least be reasonable, if price hits $1B then the cost of mining should hit minimum $500M now I don't know about Wu as he might be nuts to actually spend that much(literally billions) to mine but for me? no thanks I think I'll be going for LTC instead and then other Bitcoin's copies down the line.
In case you've missed we're having difficulty reaching $3000 and we wont go higher than $50,000 in the next 50 years.
People are going crazy these days.
At present there are about 16 million bitcoin and approx 5 million holders. But in future when all the coins are mined and the number of holders will increase to Billion with only 21 million bitcoin in supply, that might happen. Even I too believe $1billion is a ridiculously high price. But why to shy away from possibilities. |
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1117
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Bitcoin / Bitcoin Discussion / Re: Bitcoin just an asset ?
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on: July 07, 2017, 01:58:48 PM
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Bitcoin is much more than asset. It very well works as a currency specially on online marketplace. If I start online business I doubt if I can take payment in any other kind of asset but in bitcoin.This qualifies bitcoin as a currency. Yeah I agree at present we can't make instant transaction with bitcoin as required in day to day life. But we would reach there too.
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1119
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Economy / Trading Discussion / Re: Loss almost 40%, should stop trading or not ?
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on: July 07, 2017, 08:57:43 AM
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Everyone makes loss while trading. It isn't a big deal. I agree your one was a big percentage. Usually people make huge loss because of impulse trading. First thing you should do is give yourself a break, try to know whether you want to start afresh, if yes then try to learn about trading. Read experience of people. You will get many. Don't try to copy them, just learn what mistake they made. You can read Trading Chaos by Bill Williams. You can watch Coinigy shows on YouTube. Search more about trading and techniques if you want to go back to trading.  also don't forget to trade the money you can afford to lose only. otherwise your trading could be a disaster istead a way to make money steady right? cut loss never be a good feeling , people should understand about it , and to take a break for a while is the best choice to calm down yourself. Yeah, trading the money that you can afford to lose is the key point in trading. Person should always be ready for the worst case scenario. This way they don't panic and stay calm. |
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1120
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Economy / Economics / Re: Selling Bitcoin = Opportunity loss?!
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on: July 07, 2017, 08:53:57 AM
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You can only say opportunity loss when you sold your Bitcoin without gaining profit. There is always an opportunity when selling or buying Bitcoin, you only have to check the price by that you'll know when to buy and sell to gain profit.
Yup, you say right! I not know why reason many people don't sell when highest price and after the price fall down, they sell it although not take loss, but they say that is make they loss more  Just because of their greed, they blame market =)) Indeed, greed is the first factor that makes people drown in the losses. They think that price will go up and up again, but suddenly when they start seeing price drop they do a panic sell leading to complete loss of the money. It is such a logical thing that if you have 10% incriminate order then that is also your profit. There should be complete personal understanding about the market and how to grab your profits. A person with patience and a cool mind can be a successful investor. It is well known that the prices of currencies fall and rise consistently whether they be fiat currencies or cryptocurrency. We should not get panic when we see a decrease in the respective currency we have invested in especially in the case of bitcoin because bitcoin rather recovers its lost value rather quickly because of its resilient nature. Bitcoin can be considered one of the best performing currency whose value increases more rapidly, holding will always benefits the holder. From this I strongly believe into the fact of selling bitcoins must be equivalent to losing great opportunity of life time. I differ from the point that selling bitcoin is an opportunity loss. Bitcoin is set to rise year by year because of limited supply and demand will obviously increase with years. That means selling bitcoin anytime would mean an opportunity loss. Investment doesn't work this way. If you have made a decent profit and you are satisfy, then you can exit. There is nothing wrong in that. For more and more profit you can't afford to keep your money in your investment like forever. |
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