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421
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Economy / Speculation / Re: to sell or buy BTC?
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on: January 29, 2021, 12:08:37 PM
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what should we do if we have some bitcoin at this time, regarding the increase in bitcoin prices that we see today, of course the value is very high compared to the increase in the past years, so do we have to sell some bitcoins at the current price, or even we add value to the amount of BTC that we have today by buying it at the current price for us to store for quite a long time ,?
What are the suggestions & opinions of all of your friends who are here?
There is actually no perfect time to sell your coins. This is bitcoin we are talking about and we understand that it has every tendency to increase in price due to its high volatility. This, in other words, mean we can always continue holding the coins that we have now in the hope that it will will appreciate in price. The question of when to sell, I believe, is a very personal question as it concerns every individual. Personally, I sell my coins, not all of course, when the need for cash arise. Once I need cash to foot some bills and there isn't any other means, I sell some of my coins to raise money. |
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422
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Bitcoin / Bitcoin Discussion / Re: What will you do if Bitcoin hits $1m in the future?
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on: January 29, 2021, 09:45:16 AM
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Many people are talking about Bitcoin hitting $1 million USD in the future. Crypto enthusiasts are very optimistic, as they believe their dreams will come true with a Bitcoin halving taking place every 4 years. If Bitcoin hits such price levels, many early adopters will become millionaires. It could be tempting to either sell all of your Bitcoin or "hodl" it for the long term. What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.  It is of course true that early adopters of bitcoin or those who bought and hodl bitcoin will make massive profits if by chance bitcoin hits $1 million. I however believe everyone already have their plans in place for such possibility. For me, I'd sell half of my coins and hodl the rest. Some would prefer to keep on hodling in the hope of increasing price of bitcoin but they wouldn't have truly made any profit, if you understand my point. You really haven't made any money if you can spend the money you made. I think the best option is to sell some and hodl the rest as an investment. |
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423
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Bitcoin / Bitcoin Discussion / Re: Alert: stay away from new type of bitcoin scam
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on: January 27, 2021, 09:28:21 PM
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There are numerous websites which claims to double your Bitcoin within 24 hours and I have heard from some of the victims that they just don't allow you to withdraw by asking you to deposit more bitcoin's in order to withdraw this end up cheating you without even returning your capital investment. Just to make their telegram look more genuine there are imposter accounts with names from multiple nationalities. Be aware guys as no one would be able to give you 100% profit within 24 hours so it's a scams and stay away from it. I will share futher details shortly.
There would be numerous testimonials in the telegram group which you guys will be added it's all fake.
This is true. I once fell victim of scams like this. I was a newbie then and I was excited about the promise of having my coins doubled in just 24 hours only to realize that I was asked to deposit even more to make a withdrawal. I had done that twice before I realized it was a scam. Well, my advice for newbies is that it is impossible for you to get your coins doubled by anyone. It's a total scam. Don't be deceived by that. |
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424
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Economy / Exchanges / Re: What is the best crypto exchange?
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on: January 27, 2021, 07:34:25 PM
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Crypto exchange is one of the important thing when you are dealing with the cryptocurrency space. Currently, there are over 300+ crypto exchanges exist where most of the exchanges are scams and not having enough liquidity. In this case, selecting the crypto exchange is a bit confusing  . So, when you are going to select the crypto exchange, you have to consider some important facts such as exchange reputation, availability, fiat currency availability, KYC requirement, no of altcoin availability, etc. Here is the best cryptocurrency exchange that can be used confidently, - Coinbase - best for beginners
- Cex.io - worldwide support fiat to crypto exchange
- Binance - altcoin trading
- Changelly - instant crypto swap
- Bittrex
- Kraken
- Kucoin
- OKEx
- Gate.io
If you are looking to find out more details above the list, Check out the best crypto exchange to watch in 2020 where it explains exchange features, fees, and pros and cons. I don't know on what basis you made your judgement. I don't understand how you came to this conclusion but I do believe we all look out for certain things in an exchange which you listed out. Your list will possibly be accepted by virtually everyone but I think FTX.com is a super good exchange and should be on the list. Crypto.com is another super dope exchange that should be in, if not at the top, list. I think you should check out their features. |
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425
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Economy / Economics / Re: Is there subject to study Cryptocurrency ?
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on: January 27, 2021, 05:26:57 PM
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I don't know that this topic is suitable in Econimic or not but I had curious. I had asked this question because many people had expeiance and good knowledge of cryptocurrency And I am very Intrested in Cryptocurrency.
I had just completed my High School. And I want to build my career in this field. So I want to increase my knowledge in Cryptocurrency.
So I want to ask that Is there any subject to learn about cryptocurrency like Blockchain,Trading,Marketing,Mining,etc.
I am from Nepal and in my country there is no any eduction of such subject. So I want to go abroad country and increase my further study.
So If somebody has good knowledge about cryptocurrency subject please inform me.
It will be great help for me.
It is awesome to know that there are people who are enthusiastic about learning what bitcoin and blockchain is. Unfortunately, there isn't a specific course or subject where you can learn this. I think you'd just have to learn just like everyone here. Learning a bit from here and a bit from there. It's a great advantage that you're on this forum. You can learn quite a lot from threads created on the forum. You can also join other crypto related forums. You should check Google and other sites and learn more about it. Cointelegraph is a good site to start with. You can as much as you want there. |
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426
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Bitcoin / Bitcoin Discussion / Re: What exactly was the idea behind bitcoin?
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on: January 27, 2021, 03:23:07 PM
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Bitcoin is really hitting its ATH, as we can all see at this point in time , well I regret it because I don't have any of it , but I have been lost in thought for a while thinking of these ,
Is bitcoin the money for the internet ?
Yes , business are starting to adopt the use of bitcoin as a means of payment , no doubt about that but at the end of the road they turn it into fiat for proper use.
So if that is the case , I don't see a world were bitcoin would be mass adopted
Firstly , bitcoin is limited in number (21 million) and the world population is higher than that if not twice , so it can't be mass adopted.
In my opinion satoshi was trying or is trying to bring the world together through an imaginary currency , in that process trying to eradicate some level of poverty,
eg:
if you invested in bitcoin at an early stage it would have made you twice richer especially in countries where there fiat price is lower than USD. Like Nigeria($32k in naira is over 15M) .
Bitcoin blockchain is free at the moment because everyone is holding theirs to see it next pump , imagine a point where everyone wants to transact , it makes the blockchain accumulated , high miners fees, and imagine paying for a good with bitcoin and the seller has to wait for hours or days to receive his payment.
We could say bitcoin is a great investment but i can't see it as a currency for the future .
Please it is from my own point of view
Bitcoin is the internet's money. Not only that, it's the future's currency. Sure, bitcoin can't totally eradicate fiat, no doubt about that, but it will be massively adopted through the world. As for the limited supply of bitcoin (21 million), it is true this can't go round if we are to have 1btc each. Don't forget, however, that bitcoin is divisible. Its unit is Satoshi. 1 Btc is 100 million Satoshi which means you can buy in units. As to what Satoshi was trying to do when he created Bitcoin was to return financial power and control back to the masses. He wanted to take power from centralized institutions like banks and the government and give those power to the people so they'd have control over their own money. |
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427
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Economy / Trading Discussion / Re: Don't buy what you can't hodl.
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on: January 26, 2021, 09:37:19 PM
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I believe you've just outlined in simple words one of the greatest advice any crypto investor can get. It's just as simple as it is. Don't buy if you don't have the patience to hodl. Otherwise, you'd be running at a loss.
Many people buy coins out of FOMO and when such coin is experiencing a correction, they become apprehensive and want to sell to avoid more loss because they are already running at a loss. What I say to these people is 'chill out'. It's just a correction, it's gonna bounce back.
However, even with this, some will still lose money because they invested in the wrong coins which brings us to another advice, buy coins with potential.
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428
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Bitcoin / Bitcoin Discussion / Re: Let`s say bitcoin replaces fiat. What happens?
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on: January 26, 2021, 07:37:07 PM
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It won't ever replace FIAT.
Fiat can scale infinitely because it is centralized. There are zero bottlenecks with FIAT.
If some magic happens and Bitcoin replaces FIAT however, it would be same as FIAT without any physical bank notes...
Bitcoin supply is limited and it is cornered by a few people. It would be total chaos and the governments would fall and the next world war would begin.
This is definitely right! Even on my wildest dreams i never think off that bitcoin would able to replace fiat.Do we really think that government would just allow for those things to happen? Decentralized things cant able to placed on whats had been used for thousand of years which is money, maybe in different forms but government do still handle it out. What if question? I cant think off because there would be lots of situations will happen along the way.They cant just simply allow for this thing to happen. I absolutely agree with you about this. Fiat can't be totally eradicated by bitcoin. This can't happen for several reasons. I'd try to list some here. Bitcoin can only totally eradicate the use of fiat if only everyone and every businesses in all the seven continents is educated about the use and benefits of bitcoin, uses it and accepts it as a payment option. Secondly, the governments of countries won't just sit by and allow bitcoin take over. Trust me, they wouldn't subscribe to that. The best that can happen is that bitcoin and fiat currencies exist simultaneously just as they are now. |
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429
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Economy / Economics / Re: What percentage of your total assets would you rather invest in bitcoin?
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on: January 26, 2021, 04:56:53 PM
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Well, talking about investing in bitcoin, you should know that investing in bitcoin (hodling) is a rather good investment considering how bitcoin has managed to increase in price over the years.
Hodling comes with low risk. Buy some bitcoins and hold them for a long time until there's a significant amount of profits.
I'd invest about 50% of my total assets in bitcoin. Invest some in gold and real estate. That way, I am sure of making significant profits in a few years.
I think the only risk involved with buying and hodling bitcoin is security. If you're able to secure your coins well, then you're good to go.
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430
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Economy / Economics / Re: Marathon Invests $150 Million In Bitcoin
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on: January 26, 2021, 01:59:36 PM
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This is a perfect example of the fact that there isn't a best time to buy bitcoin. Over the years, I've been faced with questions such as
When is the best time to buy? Isn't it too late to buy now? Isn't bitcoin way to expensive to buy now? Well, I always answer such questions with this phrase 'it's never too late to get on the moving train'.
Marathon buying $150 million worth of Btc shows how much of recognition bitcoin is getting in the mainstream world. A lot of top companies are now accepting and even investing in bitcoin. This is good for the mass adoption of bitcoin.
I believe so many companies and individuals will see this as a good sign to buy bitcoin
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431
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Bitcoin / Bitcoin Discussion / Re: What happens to my bitcoin if I die today?
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on: January 26, 2021, 11:49:30 AM
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Bitcoin as a Decentralized Cryptocurrency has no physical structure just like the bank. It’s basically stored in a digital wallet/account being operated from a mobile device and its security embedded there also. In creating Defi wallet or block chain account no available section for next of kin or third party details Its always advised to keep Recovery Phrase details secret in save location, these will help in recovering the wallet.
Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?
Yes, your bitcoins will be abandoned in the wallet forever. I would have gone through the pains to explain to you why this is so but then you've said it all yourself. Your question(s) have already been answered by several before me. The only window of escape for you is to share your seed phrase or backup keys (although this is a threat to the security of your coins) with your loved ones that you know are loyal, else you run the risk of getting robbed. If they are loyal, then I think you're good to go |
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432
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Economy / Trading Discussion / Re: Can I get rich by trading
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on: January 25, 2021, 11:22:01 PM
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Well, every trader started trading with the intention of getting rich although a large percentage of them fail at this because they did not take time to understand how it works.
Trading crypto isn't something one dabbles in just anyhow. One needs to take time to gather knowledge and the necessary skills required for becoming a successful trader.
Other than gathering knowledge, you need to have a substantial amount of capital. At least, you'd need less time to make significant amount of profit.
Lastly, you must be able to manage risks. Risk management in trading isn't emphasized enough. You can have the necessary knowledge and skills with a substantial capital and lose all if you can't manage your risks.
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433
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Bitcoin / Bitcoin Discussion / Re: OMG !!!!! You BitCoin people were right. I wish I had bought back in March :(
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on: January 25, 2021, 10:12:26 PM
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Well, there's no point reiterating the fact that you should have bought back in March when the price of bitcoin was low since you already mentioned you regretted not buying then.
However, I do believe that it is not too late to get on the moving train. Yes, you missed out on the previous bull run but then you'd missed out on more if you do not buy now.
I'd suggest you buy from top exchanges like Binance, Coinbase or FTX. That way, you're sure of not getting scammed of your hard-earned money.
Buying a hardware wallet to secure your coins is actually the best but it's expensive. If you can't afford that, I'd suggest you create a blockchain wallet from blockchain.com
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434
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Economy / Economics / Re: Trading Bitcoin in Africa Is a Way for Some to Escape Poverty
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on: January 25, 2021, 09:14:21 PM
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Bitcoin has provided a means of livelihood for so many people in Africa. Severals are unemployed because of the high rate of unemployment due to the bad leadership of the government of countries in Africa. Bitcoin, however, has provided a window of escape.
Quite a lot of people now trade bitcoin to make money. Many people are active on forums like this. Many people get involve in airdrops and several other means.
Many people even now accept bitcoin as a means of payment which is a better option than many of the continent's fiat currencies which is losing value every day.
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435
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Economy / Speculation / Re: Do you think that a new ATH is coming or a crash?
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on: January 25, 2021, 08:19:03 PM
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Well, you should know that no one here knows exactly what will happen to bitcoin. It could happen that bitcoin will set a new all time high or it could crash reducing drastically in prices.
However, I personally think bitcoin will set a new all time high. Looking at the past weeks, bitcoin has been setting and breaking new records concerning its ATH. Now, we have the correction. I believe this is needed for it launch back to set a new all time high.
You should know, however, that these are all speculations and are not totally accurate.
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436
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Bitcoin / Bitcoin Discussion / Re: Bitcoins bad publicity?
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on: January 25, 2021, 04:38:03 PM
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This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' - I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?
I have lost count of the number of times negative statements like this have been made by banks and governments concerning bitcoin. We all know this is actually because bitcoin is out of their control. I, however, believe that this statement is not as as negative as it seems. You should know that bitcoin has gotten to the stage that any publicity, even bad ones, is good publicity. It doesn't matter what you say about Bitcoin, those who are truly interested will take time out to find out what and how it works. Concerning banks creating their own coins to compete with bitcoin, well, we can only say, let them create it. Many of these altcoins were created with that same purpose only to realize it's not achievable. Bitcoin is and will remain the best coin. |
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437
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Economy / Trading Discussion / Re: How do you combat your weaknesses in trading?
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on: January 24, 2021, 11:57:18 PM
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I think my major weakness was trading too often. When I first started trading, I had this mindset of trading often so I can make more money in a short time. I, however, realized that it did more harm that good.
I realized I lost more in process of making money. This is because after losing a particular trade, instead of taking time to cool off, I continue trading with hopes to recovering. Little did I know that I have psychologically affected by that one loss and taking some time off is necessary to radical decisions that can lead to profits.
I have now overcome that such that I place some few trades with the necessary risk management and take time off the system. If it touches my 'take profit', I make profits and if it's the other way around, we'll I didn't see it when it happened.
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438
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Bitcoin / Bitcoin Discussion / Re: Is bitcoin anonymous?
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on: January 24, 2021, 10:59:01 PM
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Is Bitcoin entirely anonymous? It’s common for people to say that in reality bitcoin is absolutely anonymous but are not knowledgeable enough to know that is pseudonymous . Bitcoin being pseudonymous rather than the assumed anonymous gives us an understanding that each user has a established public address. So that further tells us theoretically bitcoin address can be traced back using an IP address or an exchange account.
We should be more concerned about to what level or extent is bitcoin anonymous ?
I actually would suggest you try use the search button before creating new threads. This particular question has been answered on this forum several times already. To answer your question, bitcoin is anonymous. The only time bitcoin loses its anonymity is when you're trying to buy or sell bitcoin in exchange for fiat. At this point, you lose your anonymity because of a transaction that needs to be made. In fact, there are exchanges that buy or sell bitcoin in your local fiat. This way, your anonymity remains intact. Transactions made with bitcoin cannot be traced and remains fully anonymous. |
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439
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Economy / Economics / Re: Are Cryptocurrencies Really Money?
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on: January 24, 2021, 10:02:12 PM
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Of course, every crypto user knows cryptocurrencies are real money. Using bitcoin as an example, it serves all of the purpose of any state currency. It can be used for settlement of debts, can be used to pay for goods and services and can be used as investment option.
Just because cryptocurrencies have not been accepted worldwide doesn't make it any less of a currency.
I truly believe that in just a little time, cryptocurrencies will adopted and used as the currency that it is throughout the globe. Several businesses will adopt cru as a means payment giving people several options to spend their coins.
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440
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Economy / Speculation / Re: You saw the BTC price WOULD YOU BUY!?............
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on: January 24, 2021, 09:04:47 PM
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You saw the BTC price this month increase, would you buy it and hold it for a long time? been hesitating when I want to buy BTC today but before that.
I want to read opinions from you all if it is okay?
I hope you are an expert and doing this for a long time what would you say? buy? or not? also,
I already have BTC (just sharing).
PS: Don't judge me I stopped reading BTC and trading articles or pieces of information for almost years I only came back this December.
Till now I am learning again (will not stop) and want to ask you people who are none stop doing trading and buying bitcoin.
I have been giving opinions when it comes to selling or buying but when that time comes that is today I am going to buy it now I been hesitating.
So, I heard from one friend that it is a wrong decision when you people buy rising stocks value most likely to go down, is it different from bitcoin? is it right or wrong? I also made research but it's the opposite. Hope to get answers from real users because some websites I read also have comments but I don't trust it, it might be a bot or a scam.
I'm sure you should know by now that there's really no perfect or not-perfect time to buy bitcoins. I am sure that those who bought bitcoin when it was at $25k must have felt this way too with the thought that there will be fall in the price of bitcoin after some time only to see it's now $32k. I think the only way you'd lose by buying bitcoin now is if you're buying or investing on a short term because of daily or weekly corrections. If you, however, are buying and hodling for a long period of time, then trust me, buying bitcoin is a great decision because there'll definitely be an increase in its price as the year goes by due to increase in adoption. |
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