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One problem I see with bitcoin is that it's not resistant enough against FUD rumors.
Once a rumor is put into the world, there are still many people who immediately believe it. No matter how uncertain the source is.
That resolves in price drops. Fortunatelly I have noticed that these drops are becoming smaller and the price recovers faster.
So we are on a good way in that matter.
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I will ask money to someone whom I trust, who can I talk personally with. Because being desperate of having money not means you are going to borrow to some one whom you do not know. But professional person who is having a job can easily manage to get money in that situation as he holds a descent image in the minds of the people but what if a unemployed person found in the same situation, will people have same perception for him and will be willing to help him out?
He will have no way to pay back a loan because as you said he is unemployed. No one will give him a loan without a collateral. If he have assets, he can give that as collateral, otherwise, he have to find other way to get money. But he said he would talk to someone whom he trusts and whom he can talk personally with, so if someone trusts you too and knows you personally then he might give you the money as a loan but then it is your duty to pay him back even if you are not employed because he trusted you that is why he had given you the money. You can't trust a man's promise to pay if he has no capacity to pay, if lending someone without a job then probably you will have a problem in the future. People will really look for money when they need it but they do not consider the possibility because their main goal is only to make money. for that if you need money and you have no other recourse than to borrow money, so you'd better have a good reason to borrow money, give your reasons so strong that people are willing to give you loan money dude Borrowing money is not an options, you better look for a job that can give you a regular source of income, its better to work hard than borrowing a money because if you borrow then you have no source if income, where can you get the money to pay yoyr debts? Or look for online job that will allow you to earn. Every single cents that peoole spending was came from a hard work so you better look for a job too. If you sre really desperate, well you can sell your things for immediate solution on your problem. Borrowing money only drags other people into the situation of the one who needs the money. In my opinion not an option. If money is really needed you have no other choice than taking a job you would not take under normal circumstances. Or sell some stuff you nefer thought you would give away. |
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I prefere bitcoin to raise slow and steady instead of exploding.
Sudden spikes in price only provoke a sudden drop afterwards.
I think it would be enough if bitcoin reaches 1000$ by the end of 2017.
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I still want to have this one great idea nobody before had.
Start my own small business and develope it to a healthy and growng company.
Bitcoin is a growing market, and kind of hobby for me as well.
It would be great to make a business that includes working with bitcoins in a way.
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Altcoins are mostly a mess. In terms of life expectancy, bitcoin has no competition at all. No one is going to willingly put their money into a cryptocurrency that has no realistic expectations to live in the long term, and bitcoin is the only crypto that has that trait: long term trust. So no, it will not get replaced by any other crypto as the king of crypto, it will reign supreme and it will be worth hundred thousands of inflation adjusted dollars.
I'm not so sure about that. Ten years is a long time, and who knows what the technical evolution will bring us. Imagine a crypto currency backed up by a major company. Let's say apple would decide to make the step into crypto. With their capital, their community and their advertising skills, they could easily create an altcoin the world has not seen yet. |
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During the 2013/2014 rise to nearly $1,400/coin, how many bitcoins did you have?
And do you regret not selling if you didn't?
I have been using bitcoin since 2013 and this is the time i use stellar and sell it to bitcoin i made about 3-4 bitcoin in one year and this is really good but i don't know bitcoin that much when the price of bitcoin is really high and i don't even know how i will withdrew this bitcoin till i started too lose them then realize or learn on how to withdraw this coins lmao. I was not into bitcoin at that time. Although I have heared about it and known what it is, I had never used it then. Maybe it's even better this way. If I had made significant losses in that time, I might have turned my back on bitcoin completely. |
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Every time I go to the bank I like to ask them if they have heard of BTC, most of the time the answer is no.
I do ask a lot of people about BTC.. a restaurant near me.. near ish use to accept it as well, I asked to pay with it, they said it no longer exists.. .... ...
Most people I find still have zero idea what BTC is unless they are friends with the likes of us.. I don't think we are even in early adoption stage.. we are in "the chasm" .. it would appear we are going to survive though... appear anyways..
I dunno just something I have taken note of.
Pretty much everyone that has heard of it assumes it's worth like 5 cents and shits themselves when I say it's $1k (Cad) .. we are in very interesting times with BTC.
It's the same in my country. We don't have many BTC users, and just a few merchants accept Bitcoin offline. In whole country we have just 2 BTC ATM. Most people don't know about bitcoin and don't care, honestly. In fact, many people are even scared to use Internet banking or to pay for something online. I hope that this situation will change but it will not happen overnight. Same here. Nearly no ATMs available, the next one is a few hundered miles away. Although some people have heared about bitcoin, I only know one other person who actually tried it once. And I can not remember having seen a sign in any shop that payment with bitcoins is available. So there is still a lot of work to do. Let's get it on! |
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I'm so glad I bought that phone!
I think it was a moto g, and it got out in November 2013.
I bought mine in december 2013, and at that time bitcoin was at its highest point so far.
I do not know exactly how much I paid, but the bitcoin price at the moment is still beyond the price at that time.
But how much is the phone worth now? And In 2020 how much will the phone be worth compared to a 1-2 btc? It's a good example to buy btc sooner rather than later! The phone is worth not much anymore. But I was able to use it for about two years until I got me another one. If I bought bitcoin at that time I might still have them, but I would not have been able to use a smartphone for two years. In general I think the example to compare bitcoins with smartphones is chosen a little unfortunate. A good for use can not be compared to an investment. Things you use always end up with little to no worth in the end, while investment should bring more than you put into it. I am still glad I bought that phone, no matter in what currency I paid for it. |
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A confirmation means that the transaction is written in a block.
From all I know a block can be mined by two people at the same time, then it takes a little until the network has decided which block it wants to follow.
After a few blocks the network has made that decision.
So it's better to wait that time. Otherwise there is a really small chance that the transaction will be reversed.
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I see there are a lot of first time traders trading Bitcoin via the hack exchanges of MtGox and Tradehill. It makes me wonder, why don't you guys just trade real forex? You can open micro accounts with as little as $25. You get security far better than these shady exchanges. You get real customer service with a real business that won't disappear and leave you only an email address to cry to. You get real trading platforms with reliable data, not some ghetto hack stuff. You get plenty of liquidity, which allows of smooth trading. And, best of all, you don't have to worry whether it's legal or not! Trading is hard enough as it is, why anyone would want all these additional factors working against them is beyond me.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
Cryptocurrencies trading is more profitable than forex trading. Sometimes, you can double your money in just few days. However, it's risky. I am actually interested to forex trading. But, at this time i prefer bitcoin(& altcoins) trading to make more money. I suppose with forex the competition is way bigger than with crypto. Forex is known for decades, while cripto only exists for a few years. I assume ther are many forex traders out there who don't even know you can trade crypto currencies as well. But I do not think that there are many crypto traders who do not know what forex is. So I think it is easier to make profit with crypto than with forex. |
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I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.
Bitcoin prices are more volatile and no one knows what happens to it in the longer run. So I prefer to invest in property for long term profits than keeping cash in hand. And only some portion of my saving I will invest in bitcoins take the advantage of these high volatile prices. I will not keep more than 5% of my savings in bitcoins. it is an investment because there is not enough places to use bitcoin as currency! not that because they call it property. and as we move forward, the more places and more merchants who start accepting bitcoin for payment this will start to change slowly and there may be more balance between how people use it as investment and as currency. I am really wondering what would be better for bitcoin price. Consider it as an investment or using it as payment. When you use it as investment you make the available supply for the others smaller. When you use it as payment regularly, you increase the demand. Both ways help to raise the price of bitcoin. My question is what way increses it more. |
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I'm so glad I bought that phone!
I think it was a moto g, and it got out in November 2013.
I bought mine in december 2013, and at that time bitcoin was at its highest point so far.
I do not know exactly how much I paid, but the bitcoin price at the moment is still beyond the price at that time.
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Switzerland is known to be well versed in matters of money handling for a long time now.
I suppose if they see that much potential in bitcoin we can not be on the wrong track.
I'm glad to see that bitcoin is getting more and more repected in the world.
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dear milionaires,
the signs of economic crisis are on the wall. if you guys decide that it could be appropriate to own at least ONE btc, be reminded that this will be very difficult to achieve.
there are 16 million of you on our planet. but there will only be 21 million btc ever. 16 million btc are already mined. no one knows how many are lost, no one knows how many are held by hardcore hodlers (who will never sell), no one knows if the first million btc (satoshis stash?) will ever move.
edit: typo
Somehow I do not get it. What signs of economic crisis? And why would it be difficult to achieve for a millionair to own whole bitcoin? Am I missing something here? |
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No matter how high the bitcoin price will reach, fiat is not going to become worthless due to bitcoin price.
I can not imagine any realistic circumstances under which a crypto currency will become the leading payment in a country.
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I have not counted, but I do not think that I spent more than half a bitcoin a year on internet stuff.
Of course that will be lower in the future because the price for bitcoin seems to be going up steady.
Unless I find something interesting, at that point I might spend mor coins.
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Once all the bitcoins are mined in 2140, it's usual that newbies question where will be the transactions fees go at... well it will continue the same as it is now, but the miners will only get the fees, they will not get the generated coins. There is an ongoing discussion about how by 2140 there will not be enough incentive for miners to keep mining because of that... I would like to know more.
question: how do you want to give the miner a fee for mining, when all the blocks are already mined? Mining means putting a transaction in a new block where it stays forever. The first miner who does that earns the fee and 12.5 btc at the moment. From all I understand about the way bitcoin works, I must assume the following thing: after all blocks are mined, bitcoin is kind of dead. Or am I wrong there? You are wrong. He did not say all the "blocks" we're mined, but all the Bitcoins, by which he means that all 21 million bitcoins will have been generated. Blocks will continue to be created, one every 10 minutes, in order that transactions can continue to be made and confirmed and the network will continue. The difference is that there will be no coinbase reward of new Bitcoins, instead miners will earn only the transaction fees. (This all assumes that Bitcoin actually lasts 'til then of course.) Thanks for the info, I really always thought that after 21 mio bitcoins no more blocks could be mined. That brings me to another question: Has anybody an idea of how high the fees are that are earned for mining one block in average? |
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I was using a prepaid credit card before, but they quit their programm.
Searching another way to make online payments that did not involve any of my usual crads, I found bitcoin.
It's really that much better than the prepaid card I used before!
Pefect solution for me!
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Once all the bitcoins are mined in 2140, it's usual that newbies question where will be the transactions fees go at... well it will continue the same as it is now, but the miners will only get the fees, they will not get the generated coins. There is an ongoing discussion about how by 2140 there will not be enough incentive for miners to keep mining because of that... I would like to know more.
question: how do you want to give the miner a fee for mining, when all the blocks are already mined? Mining means putting a transaction in a new block where it stays forever. The first miner who does that earns the fee and 12.5 btc at the moment. From all I understand about the way bitcoin works, I must assume the following thing: after all blocks are mined, bitcoin is kind of dead. Or am I wrong there? |
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Don't be baited into thinking that Trump election would mean mean long time prosperous time for bitcoin. It was only a temporary price spike.
Stock Investors like always are reacting allergically to every change they think might destroy our current economic status quo.
It was exactly the same after Brexit - bitcoin's price spiked for a brief time and reverted to back to standard position.
At the moment it's the banks who profit from Trumps election. My bank stocks are climbing and climbing now ever since he got elected. He promised them deregulation, so a big chance to earn lots of money. Bitcoin just had a small peak, but now we are even a little lower than before the election. Seems like stocks are more lucrative for investments at the moment. |
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