https://www.bloomberg.com/news/videos/b/4a0b16dd-6783-4dac-9fa0-76e923c9a774According to this link, a bloomberg news site, it was mentioned that there are two hotels in LAS Vegas that accepts bitcoin as payment for hotels, food and drinks. If you want to visit this place as a tourist or to gamble and you happened to lost your money to gambling you can always use you stored bitcoins to get a room to sleep and relax and enjoy the food and booze. When I klick on the link, I get a 404 error... so the article seems to be pulled off the site. Does anybody have the names of those two casinos? Would be nice to investigate if they still accept bitcoin or if it was just some experiment. |
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Bitcoin is probably one of the strongest investments of the past two years.
But a currnecy? I would not call it that anymore.
People stop to pay with bitcoin because of the increasing value. That is a clear sign we have an investment, not a currency.
But beyond that I must agree that the level of awareness for bitcoin in the world is permanently increasing.
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I can not say how much there are.
The only group of people where I can imagine that leaving the day time job makes sense are the traders (and the big miners, of course).
For the rest of the bitcoin workers I am wondering if the increased bitcoin price might even pose a threat to them.
I think that the increasing number of long term investors stops bitcoin from circulating.
And without circulation how would anybody make money from a currency? That is an additionla risk everybody has to keep in mind.
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In reality that would not work.
If everybody gets what he desires for free, then everybody just does what he wants to do.
But who does the things nobody wants to do? Like working in the channelization for example?
There are so many jobs people would rather not do, but these jobs are necessary to keep your society intact.
Money is the motivation for everybody to work.
And if somebody does not get the job he wants, he must take another one. To earn money, to lead a life.
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When I read it correct, you only made two trades. I don't think that the first two trades of a person can give much statement about his trading talent.
And by the way, trading is much more based on experience and knowledge.
But I think as well that your decision making process could be improved.
In your case I would ask myself why I bought the coins in the first place. Ofcours, your intention was to make money, that is clear.
But why that coin at that moment?
And the same question can be asked for the time you sold your coins.
I suppose you will not find much of an answer.
So I think learning more about the coins you invest in will be the first step for you.
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I always say: if you want to buy, buy now!
Sure you can wait until the price goes down to 4K again. But be prepared that there is a chance you will have to wait for a veeeery long time.
What I want to say: there are no real numbers from where you can say the price at a certain point is high or cheap.
The crypto market is not predictable. There are waves you can ride on, but when such an opportunity comes up or ends, that nobody I know of can foresee.
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Bitcoin started with wanted features: It is anonymous, you can transfer money across boarders with it, it goes (went) fast.
In the beginning of bitcoin those were reasons why people bought it.
And like everything else that has a certain demand, bitcoin got more expensive.
That brought the altcons on the plan. They are way more important than most people think.
Through the option of trading more and more money went into the crypto world. And in bitcoin as well.
The more money could be made the bigger the popularity was.
Until the reasons to buy bitcoins changed from what they were in the beginning to pure investment.
Right now bitcoin is two things I think: an investment and the glue that keeps the altcoin and trading system together.
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I think that every smart person is strategic.
If a smart person does not care about his money, then because he knows that he can generate more when it is necessary.
That is part of his strategy, and the strategy works.
A strategic person on the othere hand does not have to be smart. He has a strategy, yes.
But only because a strategy exist, it does not have to be a smart one.
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You don't need to have a university degree in order to use bitcoin.
But a few basic skills in working with a computer are necessary.
More important is that you must be willing to learn a few new things, act on your own and do that carefully.
Unlike a bank, you have nobody here in the bitcoin world who would handle things for you if something goes wrong with a transaction.
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First requirement of going mainstream as currency - solving the scaling problem. Otherwise Bitcoin will be a "digital gold" - expensive to move, suitable mostly as storage of value or used only for very expensive purchases.
We may be getting close to it as offchain and sidechain solutions are being developed, so this problem might be solved in a few years.
The second problem is regulation and competition - some governments might start actively opposing Bitcoin, banks will start offering their clients better deals to prevent them switching to crypto. Average people probably don't really care much about decentralization and financial freedom, they want fast and cheap transactions, which was the original promise of Bitcoin, described in Satoshi's whitepaper.
Totally agree with your point of view. If Bitcoin will remain a kind of digital gold it will never become mainstream, because it will be used just for investment purposes and investors (in any market) are generally a minority compared to the whole world population. So Bitcoin can get mainstream only if it is used as a currency and a payment method. Otherwise, if Bitcoin will be used just for investments and speculation, it won't get mainstream. Never. I think bitcoin can go mainstream two different ways. Either it becomes the investment of the 21st century, or it is used as a currency. As an investment, some kind of digital gold, I don't think it is really necessary to solve the scaling problem. People do not buy or sell gold every day. In that case the number of transactions would not increase that much. And if you invest, you have more time to wait until your transaction is done. Bitcoin going back to be a currency, then we need a solution for the scaling problem. And I think that would lead to many disappointed investors as well. |
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Right now bitcoin is having a correction. I would not even call it a small one anymore. So does every other currency at the moment.
Maybe a few people out there are really getting cold feet.
That is creating a nice opportunity for everyone who was watching the market and waiting for an opportuity to enter.
But that is the tricky thing. You never know when the bottom is reached.
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I tried trading, but I never managed to see any patterns. Price goes up, price comes down, why does it do that???
In the end I mostly had the money I started with. But no profit.
To me it would have been really better to do something usefull during the time I invested in trading.
That is why I have decided as well that the best working strategy in the crypto currency world for me is to be just a holder.
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Bitcoin has already hit the 5K barrier on coindesk today, but it has been falling since then.
A correction like from many expected.
Many people who are not yet into bitcoin are observing the market and waiting for an opportunity to get coins.
I suppose the sell will go on a bit until sellers and newcomers will enter/reenter the market.
By the way, I just recognized that one month ago, we had not even hit the 3K barrier.
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I may be talking out of my Arse here. But when the BCH fork happened i said this cant be good and it ended up being great. We got free coins and price has skyrocketed since. A lot of people had the same feeling as me and some didnt sell Alts for Bitcoin because they wanted nothing to do with BCH. Well when November comes and people already seeing what the BCH fork did, I think it is going to crash the Alt market because people are gonna have FOMO of another round of free coins. Lets say this happens in November and people flock in hoards back to BTC to get their free coin again and every thing goes like the BCH fork. How many times can this happen with a positive result? It would almost start looking like a ponzi scheme. Like a ponzi there would be one time (the last time) where everybody flocks to BTC and then the whales sell into the buying frenzy (because it was so awesome the previous 5 times when we got free coins) and totally crash the price and pull out the rug from everybody. This might be crazy talk here. But greed runs this world and will run Bitcoin also.
Lightning never strikes twice in the same place Right now most people seem to have missed the opportunity to buy Bitcoin Cash cheap since everyone and his grandma had been expecting that this alternative Bitcoin would quickly kick the bucket. But that didn't happen. Unlike Bitcoin Cash, the new fork has basically nothing to add beyond what the former already got (i.e. large blocks), while people may in fact be inclined to buy in massively. And ironically, this new Bitcoin could actually fall flat on its face and leave many people holding bags full of crap The problem with the new fork is that it seems to have a big support of miners and bitcoin businesses. That would make a new fork for the current bitcoin much more unpleasent than the fork in August. Today the first bigger mining pool has removed his consent to segwit2x. Maybe some others will follow. But if enough miners will remove their agreement to stop a fork from happening, that's doubtfull. |
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So I have read in a few articles now that F2Pool will not support segwit2x anymore.
That would mean about 10% of the mining power just left the proposal.
According to the article it is probable that other mining pools and businesses will withdraw their consent to segwit2x as well.
How will that affect segwit2x?
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I have no doubt that some criminals use bitcoin to transfer money or ask for ransom.
But they can do the same theing with dollars, euros or gold.
About a year ago, the reports in the news were mostly abput these things.
Luckily that has changed.
That means that either criminlas do not use bitcoins anymore, or the media don't report it anymore.
I suspect a little bit of both. It got more difficult to convert bitcoin into fiat without identification, that scares the criminals away.
And the media can not always report the same stuff, that scares the audience away.
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Hi bitcointalkers .
I made this poste to show the dark side within bitcoin .
Well, I saw many posts talking about success stories with this cryptocurrency , but no one talks about FAILURE in BTC .
For example : I knew bitcoin since it was 500 usd , I used to use faucets and collected some 0.01 BTC ( that time was worthless) I sold some If the amount to a SCMER on localbitcoin , I lost the big part on yobit , and the rest is still blocked on virwox .
This was my story with bitcoin , it's true that I did not pay attention , but failure can be reality with bitcoin.
Do I read this correct that you all you have lost is 0.01 bitcoins? That is not that much money, not even at the current bitcoin price. Maybe you can see it all from a different view: You paid about 40 dollars to learn ways on how to do things not. One thing we all have to learn when we deal with bitcoins is how to handle setbacks. The next part of succeeding with bitcoin is to find out how to handle things so that they work for you. |
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The way I see it is that the central banks controle the fiat currencies.
But they do it to keep economy intact. That is to the benefit of many people.
Bitcoin these days is more and more controled by mining pools. Not even the market, just the pools.
And the pools work only to their own financial benefit.
I am getting more and more concerned about that developement.
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McAfee is clearly getting the wrong meds.
In another tweet he added that he is going to eat a part of his genitals live on national television if his prediction is wrong.
How serious can you take such a guy?? Exactly...
Lets simply take one step after the other and have a look how this whole November fork situation will turn out.
After that it will be more clear in what direction we will be moving.
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I lived in a 3rd world country so if I'm gonna target 1 full BTC will be hard because of the steep price right now at $4000. Its like even 1 year salary for most of us here. However, the best method for me is to just buy in portion and I guess it will accumulate overtime and maybe I can see 1 BTC in my wallet.
Well you might be able to buy it, but the fact is that the working class which is the majority will not even use bitcoins in their lifetime so that is a lot of people who will never even own a single Satoshi. From my estimates there are around billion people in Asia only, who don't even understand how smartphone works so, by the time they come up to speed with bitcoin it will be too late imo. I do not think it will ever be too late to start buying bitcoinns. Or earning them. Even if the price rises, then you buy smaller amounts. Nobody says that you have to own a complete bitcoin. If you want to invest, invest the amount you can. That is not going to change, even in years. The only thing you have to keep in mind are the transaction fees. But this problem is something that is being worked on. |
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