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No, I don't think so that bitcoin is a thread to jobs and national currencies. First of all, you will not feel like a king when you have bitcoin. It is because there are many jobs available that have higher salaries that bitcoin. Maybe to some jobs it is yes but to the mere fact that bitcoin is very unstable and having jobs had a secured financial aid because you have definite date of having your money. Also, national currencies cannot be replaced. To add, I think it isn't really a threat because these three can actually coexist to each other like what is happening now where some companies uses bitcoin as a mode of payment.
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No, you cannot re-brand bitcoin. You cannot do it because you have think about it. Even though you have made a survey and majority have agreed (which I think wouldn't happen), it will not really happen. Also, if you really try to do it with best thing you can do, it will just make confusions and negativities on why you have done it. We have known bitcoin of what it is, and I am (maybe majority of users here will agree), are contented km what it is now. Even though it is what it is, it reach its current state that no one ever think it would be that triumphant.
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I think there is no problem in calling bitcoin as a payment. Yes bitcoin was primarily created to be used as a currency in the digital world or in other terms, a cryptocurrency. But think about this, what if bitcoin was not that volatile? Yes maybe it will be used by people but I don't think it will reach its current state where it has a very large value because of large demand and limited supply. Don't be sad about it, even though it is mainly used as a form of investment, at least we also use it as a currency where we buy some products with the use of it, so don't worry.
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I have read several posts on this forum where people have claimed to have invested all the money they have on Bitcoin, I also read a post where a guy claimed to have used all the $20,000 his uncle gave him to also invest in Bitcoin, some even sold their landed property. The reason for these risks and others is the firm believe that Bitcoin would be $50,000 - $100,000 by the year 2019 or thereabout.
First, I must say that I admire the courage and high risk appetite of such persons. But, I must also warn.
Yes, It is good for everyone to have high hopes for Bitcoin, and also hope it gets to 100k USD in future, but you should also consider a safety factor in anything you do including investing.
Mathematically,
DO NOT Assume,
P(Success of future term) = 1 ; and
P(Failure of future term) = 0
This implies that, you must always leave a little fraction for probability of failure which in this case is the safety factor, no matter how little the fraction may be. Simply put, you don't have absolute control of what happens to Bitcoin and Cryptocurrencies in the future.
Invest wisely, only invest what you can afford to loose
Just a piece of advice.
What are your own suggestions?
I think what you have mentioned is correct, do not invest onto something that you aren't sure if you will profit, and even though you will profit to it, it is better to invest in many businesses like in the stock market. Why? It is because not all the time one business of your has good profit. There are these bad times like what happen now in bitcoin where the downfall is continuous. Now if you have invested all your money in bitcoin, what will now happen to you? In this scenario, it is better if you have invested in many businesses so that when these time comes, you haven't depending on just one source of income. |
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Wow! This is really a great news. More and more companies are more acknowledging bitcoin as a payment method to their products. This is a very positive news considering that bitcoin is walking through its bad times but this types of news will bring us hope. Why? It is because if there are more companies that are accepting bitcoin as a payment much more to those big companies, it will somehow advertise bitcoin and can somehow give the legitimacy of bitcoin indirectly. I hope more companies will do these kind of actions because it is a win-win situation.
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Guys we are very much aware how the crypto community through this great forum has helped most of us in terms of our finances but is so heartbreaking that the most of the public views only describes how insecure and unsafe the crypto community is. I do understand that cryptocurrencies are volatile and the issue of anonymity sometimes scares people away but y'all bear with me that if crypto is explained to you and you really understand it properly you would not make wrong mistakes and get swayed away by panic sales or submit your private key as ethereum wallet address. Is it a public campaign or some other form of tutorial that we should organize to help explain crypto to the world because believe it or not the blockchain technology of cryptocurrencies is being admired by most organizations and some of them have decided to run their operations with the use of blockchain technology. What can we do as a community to help change the public view of Crypto?
I think the best way for us cryptocurrency users to change the public's view about the cryptocurrency world is to show them what we have gained using bitcoin. There will be a few that will still ignore or deny it but I think majority of those people especially your friends who have seen how bitcoin change your life will reconsider bitcoin because they will be curious on why bitcoin can change one's lives. I myself was captured by bitcoin by this thing because many of my classmates had changed their life by the means of bitcoin. |
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Like what other people are telling in this thread, I will also tell that this is a great news because it is indeed really a great news. In every country which legalize bitcoin, I think countries which do not legalize bitcoin yet and those countries that banned bitcoin will look at bitcoin again on what it can do because they will be curious about why there are countries that are legalizing bitcoin. With regards to Thailand, a tourism friendly country, It is a win-win situation because not only they will help bitcoin but bitcoin can also help them to boost their economy.
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I don't think government will try to own the invention of blockchain technology. Why? It is because there are existing resources or evidences that they are not the one who are behind the blockchain technology. Even though it will be good for them to own it so they can at least help to increase the legitimacy of these kind of technology, I think it is not necessary for them to own it because it is unfair to the part of the inventor. Even they will own it, everyone will eventually found out that they are not the discoverer of it because of the existing evidences. So it's a no for me.
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Well I think what you have mentioned in your statement particular the cryptocurrency phobia is true. Why? It is because I also see it on our country. Many people here in my country which is Philippines, are scared in getting into technological business or ideas. Why? It is because they watch news in the mainstream media where the media associated cryptocurrencies in the fraudsters. It lessen the legitimacy of bitcoin that is why they are scared or afraid of it. Well, we cannot blame them because when me myself do not know bitcoin and see those news,maybe I will not also go into bitcoin. Thanks to my classmate, because of them I'm into bitcoin.
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I think the current value or price of bitcoin for me, is not yet a reasonable or a good price for me to sell it. I have this goaled value which is the value where I will sell bitcoin. Why am I have this kind of things? This is for me not to be greedy of panicky in selling my coins when the price increases or decreases. It is the problem of many bitcoin holders where they sell their bitcoin investment different rates because of the fluctuation there failing to get a good profit. Those, as we know are called panic sellers.
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Well I think, globally, bitcoin is not yet ready to be the alternative currency or monetary system much more to other cryptocurrencies which I think the majority are just dump coins. Yes some countries are adapting to it but those countries are developed countries, and in a larger scale, I think it is not yet ready to be used because of many disadvantages like high fluctuating rate and the like. I think bitcoin and other good cryptocurrencies should modify or try to resolve some issues about it and the world needs to be more modernize by waiting for time to pass and when that time comes, that is when the world will be ready for cryptocurrency.
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Bitcoin in southeast Asia is not illegal. It doesn't mean that it does not publicized by government it means that it is not legal. What a logic. Bitcoin is very legal here in southeast Asia like in my country Philippines where there are many cryptocurrency users specially bitcoin. Many people here in Philippines are knowledgeable in every aspects of bitcoin that is why many people here are also successful in the digital world. Please do you research and don't tell a statement if you are uncertain it. Bitcoin will not be legal in southeast Asia because it is already legal.
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My strategy and I think the strategies of many cryptocurrencies users here in the market or digital world is to buy when the value is low and sell it when the value or price is reasonable to sell. Everybody know this actually, but why is that many had a hard time doing this strategy? It is because not all people are patient. They always wanted for the price or value to be high and to always have their profit that is why when the value decreases, they will panicked and will sell their bitcoin investment no time. Keep in mind not to do it, to be patient at all times.
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I think regulation is somehow a good thing. Yes it will lessen the number of investments or the like but it will somehow lessen the number of bad activities that uses bitcoin or other cryptocurrencies in their bad plans. Yes somebody might say that doesn't affect me at all but if bitcoin will be regulated by the government, its legitimacy will be acknowledged, there increasing the investment rates because people will now think that bitcoin is really legit and is not a scam or fraud. Well, I hope that the regulation means really regulation, not banning or over controlling.
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Many people are still hesitant between trade and hold. In my opinion, Investment is different from speculation is that you spend time and knowledge for it. When you trust and understand, you will not be afraid of the volatility of the market. It's an investor or a HOLDER. It's very good, but I think you get to know the market, trade, the cycle of market so you can be an investor, a smart holder.
"Don’t be a blind bull. ALL markets are cyclical. Don’t be afraid of pullbacks or market crashes – that’s where you can make the most money"
What you have mentioned is think is correct, and it makes sense. Newbies in the cryptocurrency world who just joined here in bitcoin just because they are caught by the major uprising of bitcoin, they have the tendency to invest or buy bitcoin so much because of the high profitability but when the worst time comes, they have just murmuring and crying like babies. They do not really how the market works and that is I am annoyed of. For someone to be successful in bitcoin, they need to understand the market well and be an intuitive risk taker. Buy when the value is low and sell when you have gained a reasonable price. |
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Well there are many tips that are given to your aforementioned website but I think some of those tips are a general knowledge. The best thing tip to give to people is to tell them what is phishing and how it works. By then, people must know how to get rid of phishing. I think the best way to get rid of it is to be technological literate. If you are technological literate, you can avoid many mistakes done by people who are trick by hackers like surfing on the wrong website and etcetera. Being knowledgeable makes you avoid many mistakes.
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Well personally, bitcoin do not really affects DC t my emotional and mental aspect of my life maybe because I do not engage too much in trading or investing. I am just focused in joining bounty campaigns where I don't invest but I think it stresses me when the campaign manager do not credited my posts and it sometimes affects me in my mental and emotional aspect where I became angry. From what it seems, it just affects me but only in a little scale. I think, those big investors experience so much emotional distress and sometimes affects their mental aspects.
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In knowing the technology behind cryptocurrencies or also known as blockchain technology, it is very hard to imagine cryptocurrency or digital world without bitcoin because as we know, it is the forerunner of cryptocurrency. In my own opinion and from what I believe, altcoin would have a very hard time to survive without bitcoin. One of the reason why is that you need to convert to bitcoin first before you can convert it into altcoin and without bitcoin, altcoin would have a hard time. Well, we really do not know what will really happen, we must just thank that bitcoin was invented because without bitcoin, there will be no altcoins.
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