Assuming the price of bitcoin reached 2000 USD in the next 5 years. Doing the math for 1m USD then ($2000/1BTC)*(xBTC/$1000000) =2000x/1000000 = 500 BTC. So I think we need 500 BTC to be able to have 1 million USD in the next 5 years which I think very possible for BTC to reach 2000 USD due to adoption, update and upgrades of BTC.
I believe that everyone of us here in bitcoin community are hoping that this would make it possible.. yeah only time will tell and as early as now we have to get a hold of our bitcoins and just wait until the price comes up. Looking forward to it. |
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I think you must more be close with religion because some religions ban gambling on this life,
What? Religion doesn't help you at all. Religion just want your money and after that nothing else. I think we're going nowehere in the topic but all I said is true and if you want to quit gambling, religion won't solve it. I also think that religion won't help at all, because I know some people that has religion that was really strict but still they do gambling. So I think Religion won't help. But always put God in your Heart and In our everyday lives. Religion actually just remind us if gambling was not good, but the decision remains present in each of us. Many people know that gambling was wrong in religion but they do it anyway. But there is someone whose religion is so strong that they are actually away from gambling, but it was returned to us respectively. I think it took a strong intention to stop gambling, so it is very difficult especially if a person is already addicted. That's the reality. Even if gambling is banned in your religion, you still have your own choice to do it or not. And for some people whose already deeply involved in gambling.. I guess they need to recreate their interest into something else other than gambling and it's a really hard thing to do not only for them but also for their family and love ones. |
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worth so newbies can see if gambling not so easy as it looks, and there are no easy money that we can get in gambling
Indeed mate.. so you can also see if you're really fit to gamble or not. If you experience it you can share it with others who want to try gambling. It's s good and exciting experience though.. just have to control yourself otherwise you will lose a lot of money. |
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people who are addicted sometimes they are difficult to awaken oneself from addiction. so they need help from the most important people in their lives or their loved ones. all the ways that you mention it will be useless, because this is a matter about yourself. if you really do have a strong determination to quit. in any way could be good for you.
I agree that determination is needed of a person who wants to stop gambling. The willingness to avoid will help him to prevent addiction. For me, controlling yourself is the main key to do and not to do. You can have the advices of others, but still you have your own mind to decide. He needs to realize his past mistakes and make the good future as his inspiration so he could quit in gambling. It's not an easy job but it's possible, we enter in gambling and we do not do it well so we need to go out of our own. Indeed away from gambling is not an easy job. With only aware of past mistakes I guess it's just the beginning, because in fact many people are aware that gambling is wrong but still a gamble because they may have an addiction to gambling. If someone is already very addicted to gambling will definitely need the help of people around to remind him to stop gambling. If it had been realized and there is help people around certainly if done in earnest to be able to stop gambling. Learn from our experience and we will be fine in gambling, don't make a delay action as once you are addicted you will end up losing your money and even your time in gambling. You will only win sometimes but still you will turn over your winnings in the end. It's okay to gamble if we can control but if not we have to quit the soonest. Yes. Learn to control yourself and make sure to accept losing money. Because if you cannot control yourselr.. you will still come back to gamblimg and chase your loses. That's why most people are being addictive into gambling world. |
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You can start with the amount of 0.01 btc if you're a complete newbie, Better trade with the amount that you can afford to lose.
To avoid losing the 0.01 btc. It is important to study about trading first but after all practical knowledge is the best so try and try.
This is exactly a newcomer to be alert to the possibility that he might lose these savings. But he will get experience. Although negative, but an experience. And if a newbie does not want to spend 0.01 BTC for trading, he can lower it down to 0.001 to 0.0005 BTC just to have a first hand experience on trading. With this amount he can buy some cheap coins, those ltc market or dogecoins market. At least even if he lost this amount, it won't affect him that much. It will be better if a newbie will only start with the amount of 0.001 BTC and that will be a great start even he doesn't have knowledge. And that amount is affordable to lose for a starter in trading. But you should buy the cheaper coins but has the chance to pump in the future because a lot of nonsense coins are coming out. I agree with you mate. This is a good amount to start for a newbie. Even if it's a little amount you can still make a few income if you have the right coins to buy and sell. |
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Best way for steady income is having a stable job. I think there is no steady way to earn other than that. Having a job means fixed salary. Other ways to earn like having a business of restaurant doesn't give a steady income everyday.
That seems legit, stable job = stable income/salary. Of course, how can you have a stable income if you don't have stable job, maybe you should distinguish the ways of getting your profit. And with having your own business that is the only alternative way of getting good source of income, stable and own business = stable profit. I don't think that you will always get stable profits in business as sometimes you may even suffer loss in it, but once you develop and establish your business in a proper way then over a period of time you can expect regular profits but at initial stage there is a full possibility that you will be having a negative income from it. Good investment which give steady income are rare to look for, there are some options of course but not give 100% guarantee. There is no such guarantee in investment but at least you should have big capital to get that. If you want steady income, try to invest in business or create your own. I agree, you may suffer loss during the way. It easier if you have lets say $100 Billion, you can invest partially to build hotels or boarding house and others. For bitcoin investment, you may try invest as bankroll on some sites that provide it or better to make you're own local exchanges and merchant that accept bitcoin. If a person has that high capital of $100 billion to invest then why would he take risk of investing, he will simply deposit that money in bank and would be satisfied with the interest that he would be earning from it annually as there is no risk involved in it and even the interest on $100 billion would be higher. That's too much money if you were to ask me, I would not bother investing that amount, instead I will just put that in different banks and then live my life to the fullest. What's the point of working and making money if you have already the amount you need to live your life comfortably. I guess we need to understand what the word contentment does mean. Yes I agree $100 billion is really big for investment.. and if I have that amount of money I would invest but not all of it. It's very risky if you put that amount of money just for investing.. think of saving as well and enjoy your life. |
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I got some by selling altcoins, which I mined months ago. But most of what I got in BTC, I bought using fiat. I hope the investment proves to be a wise one for the next few months.
Try to hold also your bitcoin and wait for the right time to sell it in the future.. it's really quite good for your investment and it's really worth the wait. |
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I have a small rainy day fund with me, to use in case of emergencies. If the amount required is quite large, then there are a few options. I could sell my bullion/equities/mutual funds, or I could take a loan from some of my friends. Right now, I am having a full-time job with a reputed employer. So getting a loan from the bank won't be that hard.
That's really good for you mate. If you have a good job and quite good savings then there's nothing for you to fear when it comes to money. I also have a good job and a little bit of savings and loans from tlour government is my last resort if I really needed a money.. not touching my savings. |
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Bitcoin is much safer in my eyes and its also usable all over the world globally, you do not have to transfer it and if you want to transfer it to family it can be done in seconds.
I couldn't agree with you more, bitcoin is an investment or currency as you wish to call it but it was never safe as cash. Bitcoin is unregulated and at any moment the government can decide to ban it and our effort will be gone. Use cash for good as you will need it in your daily lives, bitcoin on the other hand is just good for investment as of the moment. Most users consider it a advancement in the transaction and a growing investment. Important thing is that every country is moving towards a cashless system avoiding currency usage. This system gives a better data regarding the transaction which helps government in taxation. As a part bitcoin as a digital currency too gets important when most country's creates a cashless system. It's a total renovation for everyone and makes us fell really safer when it comes transacting online. So thst's why more and more people are getting more interested investing and using bitcoin. |
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yes you should believe in bitcoin. Cause there is just a little risk here. bitcoin price is gradually keep going up.so you shouldn't tensed about loosing your money. However it is becoming popular day by day.
It's not a little risk, I know this because I lose money before. The fact that you are betting on the price movement of bitcoin which is volatile enough that it can go up or down based on the news in the market, it's not considered as small risk. Depends on how much your invest also, if you invested a bigger amount that's a bigger risk. I think if you invest little then the risk is little. Same goes if you invest higher.. definitely if you want to make an invest in bitcoins then you should hve to believe in it that you can make profit regardless of how much amount you invest to it for as long as you gain your btc then that should be fine for you especially in the long run. |
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I guess I should hold a little bit of both. It is the best option for the future. If in anycase bitcoin goes wrong, you still have your gold
That is true mate.. if you have both bitcoin and gold then it is better for your future.. because you still have a backup if anyone of them will go wrong in the future. |
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It is possible that bitcoin will be majorly used as currency in online transaction, but in Real Life application as currency where we have to buy in the neighborhood and use bitcoin as currency is a bit vague. The reason for this is that there are lots of people who is 1) not computer literate, 2) have no access to internet, 3) doubtful about bitcoin 4) ignorant about bitcoin.
I'm also thinking the same way.. I believe bitcoin users will grow more and more but not to the point that everyone will be able to use it.. some reasons already defined above.. and yet many countries are still out of date when it comes to technology.. it might be possible in the future but it will still make a couple of years or decades. |
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I don't think bitcoin will ever replace the US dollar. The government would not allow that to happen. I could see bitcoin being used as a payment method like paypal, or a method of sending money like western union, or even a way to store money instead of banks.
We are on the same side, bitcoin is nothing compared to dollars. Look at the price now, it's on dollars and that is its standard way of measurement and without dollar bitcoin could not be popular. That's the reality, we are just a small currency and dollar is a powerful currency which reflects its country. I agree. Bitcoin value still depends on USD currency.. same goes with other countries currency they also rely on USD. So for me definitely bitcoin will not replace dollars. Both USD and bitcoin will still be in the future. |
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best way? uhm i think investing it rather than saving it is the more accurate way to manage your money. always use the ratio 50:50 the half you can save it as your allowance and the other half you can invest it in bitcoin. i rather put the 80% of my money in btc than saving it because im too obsessed in things that i dont usually use. so when i got in bitcoin community i would say that i'm investing all my money in bitcoin and the other half is in gambling site.
Why not do both, you can still invest if you save but you cannot invest without savings. It's a prerequisite actually so we need to discipline ourselves in savings first then the rest will follow. Think one step at a time so you will not complicate things, you will be guided if you have a cool mind for your future plans. Quite true mate.. the reason you want to invest is to gain profit from your savings.. without savings you you cannot invest anything. For you to save money you need to control yourself and spend your money wisely. |
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Yeah, unfortunately many can not see the bigger picture. There are people in the cryptocurrency world just for speculative purposes or for a quick profit. With the qualities present in Bitcoin, we have something able to change the economy as we know and bring freedom to people who use it.
It's not always people's jobs to find the benefits and make sure they apply their talents to the bigger picture, a lot of the time it is or can be in their best interest to make something like a quick profit or put money in for a long-term investment and by them doing that, it benefits everyone beyond that and affects the bigger picture. Speculators keep the value high. People do believe that bitcoin is freedom and I am only referring to the people who were able to adopt with bitcoin. That can be clearly seen as the way the price move, it's not a manipulated price anymore IMO, it's the demand of the people that dictates the price to go up and it's a continuing process for a progressive market. One example of freedom is our privilege to gamble using bitcoin. Indeed mate. It's called freedom because they can do anything they want in bitcoin community. They can do trading, gambling, purchase, payments.. it's a whole new world when you use bitcoins.. you can move your bitcoins freely without any government restrictions. |
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Each one of us are ready for dump some altcoins as long they achieve some profit from our investment, the week hands all we do have in some moments when our investment turns into profit or became a huge loss, i do know that taking the decision isnt easy but we need to control and take care of our bitcoins.
If you are in trading then alt coins are very important as you are doing it daily with your live and for those people who are making trading as their personal source surely it will hard for them. But for those people who have personal savings for holding bitcoin is going to be an easy way of not selling because their main goal is to hold. Yes indeed. Most people now are holding their bitcoin because they know that in the future price of bitcoin will have a greater value and they are waiting for the right time to sell it. For now they holding it as for their savings. |
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For me its bit confusing to guess the future of bitcoins, no doubt its going good at a moment but will it continue the same pace in future too and that is a big question, so without thinking much about the future I am keeping myself engage in collecting as much as I can at a moment and take benefits from it till its alive.
Also have the same thoughts we can't predict the future of bitcoins but hoping that it would grow and more investment for us in the future. But for now I'm enjoying the benefits of bitcoins. |
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Invest it but, wisely.
Saving money just devalues your assets over time due to inflation.
To stay ahead of the value of your assets you need to continue to grow the value.
Plain and simple.
This is true. Fiat money inflation depreciate the value of the money you are holding. So if you hold or save your money for 10 years, the current value will not be the same for the next 10 years. This is the reason why most of financial gurus advice us to invest our money in order to beat the depreciation of our money value. Yeah investment will help in growing our money in long term which is never possible with saving as inflation will eat all our money and will decrease the value in future, no doubt investments are risky but with proper research that risk can be minimized in order to receive good returns on our investments. It will help your grow your money and there's no question about that, everyone should know how to invest and must be willing to take the risk. Both are good but investing is better if you aim to have a good financial standing in the future, you have to play your card if you want to be successful. That's true. If you're looking to gain your money you have to invest it and work for it.. it's risky and need to focus on.. saving money let only make your money sleep in a bank and nothing happens they may some interests but not too much as compared to investing it. |
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I recently read some quote and i think this is something good to share in this topic.
"Do not save what is left after spending, but spend what is left on saving." - Warren Buffet
That's probably would work as apparently Warren Buffet is a billionaire man and we have to follow his method. However, there's a problem with us as we lack discipline and we do prioritize our bills and sometimes we are trap to buy for our wants instead of needs and that makes us lose in our budgeting. Indeed.. it's really a good quote and in reality it may not apply to some people who have a lot of responsibilities when it comes to their expenses. Though they may save some but not a lot. |
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I think people in the future will leave fiat as money, they will back to use gold anymore. Becouse gold is more worth. Gold is better than anything as a money. Gold value is not depend on the strenght of political country.
It's possible but not in this millenium. There are still countries that hasn't been develop when it comes to technology.. especially those who lives in mountains and such.. so they still need cash. Gold value can flactuate like bitcoin value and they depends on the value of USD (money) no matter what. |
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