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741  Economy / Economics / Re: When will people feel comfortable using BTC ? on: July 02, 2018, 01:35:10 AM
When will people spend BTC as easily as fiat , not seeing it as an investment opportunity but a better currency for them to use ? Most of my friends that I have currently told about Bitcoin are most intrigued by its rapid rate of growth and not its outstanding features as a currency. They don't really care that it is free from government control , but are more focused on the fact that it has risen xy%

I don't really spend much of my Bitcoin , because I am always in fear.
I am not talking about cashing out , but for digital goods.

How do you spend 10 mBTC on a 5$ digital good when you believe that the same 10mBTC is worth atleast 15$ , probably more.
How much of your Bitcoin have you hoarded , and how much have you really spent ?
I am under the impression that people tend to hoard more with BTC than with fiat , considering it an investment more than a currency

I don't know how to make a poll here , so :- http://strawpoll.me/1793917
This is not referring to your blockchain.info statistic , which includes money you have moved around. I am looking at money you have truly spent vs total amount of BTC you have received.

Overall , I'm trying to look at how much my guess is true by the poll and your estimates of when majority of people will start looking at BTC as a currency.

EDIT : I'm not sure this is the right section , tell me if this should go in General Discussion or so.

I believe the reason why most people use bitcoin as an investment instead of as a currency is because of the fluctuation in the price. I know that the only way bitcoin cab be used as a currency for the payment of goods and services is if the price becomes stable. Due to the volatility in the price of bitcoin, people will buy the same commodity at different price. A person might even buy the same good for different prices if he buys it separately.
Another reason most people don't yet use bitcoin as a currency is because most online shopping sites do not accept bitcoin as a means of payment and  so there is no one to accept the bitcoins if they want to spend it on goods.
742  Bitcoin / Bitcoin Discussion / Re: Analyst say bitcoin will Obsolete one day. on: July 01, 2018, 09:10:47 PM
The predictor says its useful,  its visible, but one day it will be obsolete. 
One thing I want to say people wants to says negatively.  this is a new technology, we can't appreciate new things.
 new link down below.

https://cointelegraph.com/news/geopolitical-analyst-believes-blockchain-will-become-obsolete/amp

Aa we all know that nothing is certain concerning bitcoin or the blockchain technology, then there definitely nothing that can't happen. The prediction may be true or false, however, I personally think this will take a lifetime to happen if it is true.
This is because bitcoin is still in its infant stage although it has in process for decades, and so more people are still going to accept it. Another reason bitcoin or the blockchain technology is not going obsolete soon is because it will take decades for another technology to overrun the blockchain technology and cause it to be obsolete.
743  Economy / Trading Discussion / Re: Transfer My Entire Savings to Cryptocurrencies? on: June 28, 2018, 11:55:56 PM
I believe it is not an ideal decision to put all of one's egg in a basket. And even for an economy of a nation to improve, there has to be diversification. I'd give you two simple advice's.
1, Don't put all of your savings into investment. There might be need for emergency fund.
2. Don't put your investments in a place. You should invest in cryptocurrencies as well as stocks.
744  Economy / Economics / Re: Wise thing to do with your savings. on: June 28, 2018, 06:09:38 PM
I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

I think the best thing to do with the money saved up should 10% for investment and 10% for emergency fund.
Emergency fund is not meant to be invested, it is meant to be saved up for the day of trouble which may come at any point in time. So put such money into investment is very risky and not advisable.
The remaining 10% should be put into investment, for example cryptocurrencies or shares, to earn more money over time.
745  Bitcoin / Bitcoin Discussion / Re: $300 million transferred for 4 cents in fees! on: June 28, 2018, 02:23:52 PM
Have a look at this transaction: https://www.blockchain.com/btc/tx/39afcad6c4d0713ed291014315c4dcf2d81334275218c28fd354af45b7395c61.

$300 million transferred, fees of $0.04, confirmation in 4 minutes.

Now imagine the hoops you would have to jump through to transfer $300 million in fiat, the days of delays, the fees, the people you would have to discuss it with first, etc.

This and many more are the advantages of using bitcoin over fiat. Having to transfer that sum of money in fiat will take nothing less than $50000 as transaction fees, take almost 5 days to complete the transaction and you'll have to meet tonnes of people all because of a single transaction.
I even read on this forum where a member said he transferred $20000 and the bank charged him $700 over just a single transaction. https://bitcointalk.org/index.php?topic=3203640.0
I just don't get why some people still complain that bitcoin transaction fees are high.
746  Economy / Trading Discussion / Re: Patience is a virtue in Cryptocurrency Trading. on: June 28, 2018, 01:13:20 PM
Cryptocurrency is a no go area if you are an “emergency investor “. By emergency investor, i imply someone who invests in cryptocurrency to get profits within some short period of time in order to settle some immediate financial. The probability of that happening cannot be ruled out, but in instances where they occur, the probability is about 1/10.

Patience is a virtue for bitcoin and another cryptocurrency investment. Prices exhibit intermittent Bearish and Bullish movements over short periods of times which may leave investors confused as to what step to take.

A successful investor studies the market, invests in a coin that always rises remarkably after a significant drops and take decisions in moments of highs and lows.

This will save a lot of anxious investors who sell their coins when prices are dropping, causing them to lose significantly.

I would agree with you to some extent but you,  however, do not out into consideration those that practice day trading.
The term emergency investors, I can say,  correctly describes what day trading entails. It is simply taking advantage of the differences in the price of bitcoin over short period of time to make profits.
Patience, however, remains an essential virtue for traders especially newbies who don't know how the market works and always panic anytime there is a slight decrease in the price of bitcoin.
747  Economy / Economics / Re: Why all people moan about the price of bitcoin? on: June 28, 2018, 06:26:08 AM
The forum is full of topics - “When Will Bitcoin Be Back To $...”, “Why BTC is under $...?”, “Final bottom at $...”, “Why BTC is down again?”, “Bitcoin will rise again ?” etc. The last two topics may appear in various forms  a dozen times a day.
I looked at graph price of BTC out of curiosity. I have noted to the price floor:

2015 - $200+
2016 - $300+
2017 - $700+
2018 - $5000+


Do you see something frightening in it?

We all can see that price drops because of actions by a Governments and big whales. Because they have the means and opportunities. They want to break into the our market on advantageous terms for them. Okay, well, I mean, that makes sense. We knew it would happen. But why that have to affect us?

In December 2017, the most people said - "Why I didn't buy BTC for $500… for $1000… f#ck it!.. for $2000...", "I will definitely buy BTC if it costs $7k-6k!..". But now when the price drops so well for us, we see "The demand for BTC is dropping". Seriously?!

So, instead to take advantage of the situation, buy up coins and altcoins, attract new people in crypto world more active than before, a lot of people stuck in indecision and think whether crypto market falls to the bottom and stays there.

Guys, are you serious? Crypto world is made by us. Governments and big whales haven’t any tricks to rule our world. It will happen only if we do nothing.

What do you think about it?


I think people are complaining about the price of bitcoin simply because they are expecting to make profits.
Most people bought when the price was very high at around $20000 and you cannot expect them to sell at this price of $6000 and make losses.
I believe this is the reason almost everybody are complaining concerning the price.
748  Economy / Speculation / Re: Bitcoin will rise from now until the end of the year? on: June 28, 2018, 02:13:22 AM

Some reasons I believe bitcoin is likely to rise next time
Bitcoin is dropping sharply from $ 20,000 down to about $ 6,000 by the end of 2017, but that's a lot more than $ 2500 a year ago.
Laws gradually intervene in the market, may form the law for crypto, institutional investors can peace of mind to invest in the market
Mt Gox is allowed by law to compensate bitcoin victims for a percentage, without the need for cash compensation, which could end the sale of large amounts of bitcoin.
How do you believe bitcoin will increase from now until the end of the year?

The price of bitcoin may rise or not rise. No one can actually tell what will happen to the price of bitcoin.
However, with the growing number of investors, users and supporters of bitcoin all over the world, I hope there will be   this growth we've all been expecting.
I think a steady increase over time is what we need and not pump that will come and go. Over time, with steady increase the price of bitcoin will eventually reach even more than $20000.
749  Economy / Trading Discussion / Re: What are the useful tips for beginners? on: June 27, 2018, 05:58:40 PM
Hello guys and gals , it is certain that the field of trading is very profitable, but regrettably, I have seen many beginners start in this area without any knowledge of the basics. In fact, this class always fails and lose a lot of money because of their hastiness or rashness.

So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :

1- Read and learn the basics of trading:

-I think the best way to start understanding this field  is by reading books related to digital currencies,  but unfortunately, the issue that many people  read only the first pages of the book, then they stop.

"The more that you read the more things you will know, the more that you learn, the more places you'll go "
                                                                                                                                                            -Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:

Mastering Bitcoin for Dummies:

Cryptocurrency Trading & Investing


-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus,  try to help yourself  with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.

2-Stay away from media news:

Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "

3- Be patience  and  try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...

IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."

Cheers,  Grin


Wow,  I really love these tips. They are very useful tips for beginners.
However, practically the first tip should not be limited to reading of books and articles alone. There has to be some practical aspect of it. I'd advise any beginner to invest a very small amount that he can afford to lose and then gain experience from it. Experience, they say,  is the best teacher.
I totally agree with the second tip. Media news only tend to manipulate the trader to make some wrong choices to their benefit. So I wouldn't advise any beginner to pay attention to them.
750  Economy / Speculation / Re: Bitcoin, the highest fall in the year 2018 on: June 27, 2018, 09:42:30 AM
Bitcoin prices have never been so low this year. Prices were down to 5,826.41$ (Jun 24 2018 16:04:00 UTC). Many advisers say that at the end of the year it will hit 30,000$. The market is seeing more than the fall from the price rise. Imagine when the speculation will end?

Although the price of bitcoin may still eventually reach $30,000 by the end of the year, I still wouldn't advise you to believe or have hope on predictions like this.
We have, since the beginning of the year, had so many predictions concerning the price of bitcoin and most, if not  all, of them have been false. So many people predicted that the price of bitcoin will strike $18000 before the middle of the year and here we are now with nothing to show for it.
The price of bitcoin is very volatile and as such no one can accurately predict what will happen to its price.
751  Economy / Trading Discussion / Re: I wish I dump all the BTC in late DEC 2017 on: June 26, 2018, 05:23:01 AM
what a year, wish I dump all the coin in late DEC lol

and today, spend the 100% from that capital and bought , so u still holding the same amount as late DEC while steady with the 900% profits..

It's a normal thing. Just like other people, you waited for an even higher price before selling but the price came crashing down and you wished you had sell before the dump. You are still lucky you didn't buy bitcoin when it was at that peak. I did and all I have to do now is simply continue holding and selling when the price is above $20000. I only hope that this time will come quickly.
752  Other / Off-topic / Re: Do you have another job besides being a Bounty Hunter? on: June 26, 2018, 02:53:35 AM
I understand that being a bounty Hunter can make money and improve the family economy, but do you have other jobs? because if I just rely on money from Bounty I think it will not be enough.


Just like you said, it is not enough to be only a bounty hunter. Bounty campaigns are not stable as compared to our normal jobs. Bounty and signature campaigns are just a way to have another source of income. They are not meant to be treated as full time job.
753  Bitcoin / Bitcoin Discussion / Re: JUST TRANSFERED 20K USD AND BANK CHARGED ME $700 !!!! on: June 25, 2018, 07:22:20 PM
This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!



This is why bitcoin will eventually make the bank outdated on the long run. How can the bank charge $700 over a single transaction. If such transactions had been made ij bitcoin, the highest amount of transaction fee you will be charged will still be below $25.
It's hightime bitcoin became the global currency it's meant to be.
754  Bitcoin / Bitcoin Discussion / Re: JUST TRANSFERED 20K USD AND BANK CHARGED ME $700 !!!! on: June 25, 2018, 07:22:20 PM
This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!



This is why bitcoin will eventually make the bank outdated on the long run. How can the bank charge $700 over a single transaction. If such transactions had been made ij bitcoin, the highest amount of transaction fee you will be charged will still be below $25.
It's hightime bitcoin became the global currency it's meant to be.
755  Economy / Trading Discussion / Re: A successful trader must be an educated trader? on: June 25, 2018, 04:27:23 PM
Is it true to state that every successful trader is an educated trader. We know how trading is tedious,reading of chart, analysing the market and making a decisive decision. Do you agree any successful trader must be an educated?

It is not totally true.  Although being educated has so many advantages over illiteracy, it still does not guarantee successful trading.
Education plays a major role in trading. So many people have losses because they do not possess the information needed to trade. However, we've seen so many people who are not educated but have the necessary skills to trade and they also make profits.
But still,  my advise to anyone trying to trade will still be to read and learn how the market works. It's of an added advantage.
756  Economy / Speculation / Re: Bitcoin recovering ? on: June 25, 2018, 01:44:59 PM
Do you think bitcoin is going to reach june rates soon ?

I don't remember how much It was back in June but Bitcoin is increasing slowly with stability (that's what we need at the moment instead of a pump-dump) and with the halving that happened in last July , It should be just a matter of time till It reach 1000$ , If not more.

It was above $720 in june, and i feel it will cross that price again before next year because the price has already started growing and it has reached $650 or above that right now and i feel it can surely cross that price where it was in june or will reach that extent.

Like he said that the price of bitcoin was around $7200 last June, there have been some  stability in the price of bitcoin as of lately. The price of bitcoin has been stable around $6000-$6500 and I believe that with this current price, bitcoin is going to increase gradually and not just a pump. And this is what we really need with the price of bitcoin,  a steady increase over time and before the end of year, I believe the price of bitcoin should hit $20000
757  Economy / Trading Discussion / Re: Holding BTC vs Day trading or short term trading. on: June 25, 2018, 05:45:33 AM
So I have been in crypto for a while now, February precisely, and regrettably I wish I had never dabbled into day trading or short term trading. I have been burnt a lot trying to play the game of trading. Often times I end up buy too high thereby becoming a bagholder, and when I finally sell, it's at a loss.
So I can't help but wish I had just held on to my BTC. Would have been grinning from ear to ear today.  #Lessonlearned

Trading (day trading or short term trading)  is not meant for people with no experience or skills. Trading especially day trading can bring a lot of profits even on a daily basis if you are very careful about it.
Holding may yield profits on the long run probably over sis to twelve months but day trading gives you profits almost everyday.
758  Economy / Economics / Re: A cryptocurrency with volatility can't be used as money on: June 24, 2018, 08:37:38 PM
I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.

What do you think about this argument?

I can actually see the reason behind this statement. The volatility of bitcoib nearly makes it impossible to be used as a currency for payment of goods and services.
A good won't have a fixed price if it has to be paid with bitcoins. Two different people will buy the same good at different prices in a time interval of two days or less.
However, I think the volatility is still because Bitcoin has not yet been totally accepted by everyone. A time will come when the price of bitcoin will become more stable and will be used as a currency.
759  Bitcoin / Bitcoin Discussion / Re: Time to stop using Bitcoin as a form of investment and start using it as payment on: June 24, 2018, 06:40:27 PM
Listen to me.

Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.

Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).

We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.

At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.

Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.

We are a community created for the people, by the people.

(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)

I know you are right. Bitcoin was not only created for investment but also for payments and for making simple transactions. However, this will still take some time to effect. So many people have bitcoins that they want to use for payment for goods and services but do not see those that will accept bitcoin as a means of payment. This shows that not so many people accept bitcoin as a means of payment for their goods and services.
For people to start using bitcoin as a means of payment, then there must be people to receive them. Although, some major online shopping sites accept bitcoin accept bitcoin,  it still cannot provide services which should be paid with bitcoins.
760  Economy / Trading Discussion / Re: How to trading without capital on: June 24, 2018, 04:35:35 PM
is it possible to trading without capital?
Without capital here means without money that come out from your pocket as capital.
If possible, i want to learn from very small thing in trading, yes without money on my pocket or my bank account.

Personally, I do not think it is possible to start trading without a capital. Trading requires a capital even if it is very small. You've got to have something that can be multiplied.
However, if you do not really have a capital to start trading, I'd advise you to participate in signature campaigns or bounty campaigns to earn some bitcoins which you may then trade with.
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