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Obviously, no, there is no connection from the Eid of Muslims to the downtrend of bitcoin. Just watch or study the indicators in the market. In addition, this downtrend has started even before the Eid of Muslims, it started wayback Chinese new year. Don't blame the Muslims to this downtrend.
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Things you should know before investing in bitcoin
What everyone wants is to have a stable job and get good savings, the best option is to work the money to get more income for the future and thus have a better quality of life and what better to invest in bitcoin but before you should know certain things about This cryptocurrency.
it is not regulated: there is no entity that regulates and monitors this type of investment. So you should be aware that if you lose your money, nobody will answer
Bitcoin is a high-risk investment: people should know that the level of risk is very high, due to volatility and inability to predict its price. "
Do not get into debt to buy cryptocurrencies: this really should not be done with this or with another investment, if you are going to work your money with extra money you got.
Do not invest more than you are willing to lose: "it is recommended that you do not invest your savings in this currency; on the contrary, invest 1% of your assets, something that you are really willing to lose".
Use reliable pages: use safe sites to navigate and also only use reliable devices such as your cell phone, your computer and your home's wireless network. Never use public networks neither to make investments nor for any type of financial consultation.
Yes, things you have mentioned are completely accurate. In addition, I think everyone should understand the market well. All successful person here in bitcoin understand the market very well, they know when to trade, when to sell, and when to hold their bitcoin. That is their secret to success. Also, everyone should be a intuitive risk taker. Do not take risks when you shouldn't have to, and the same way to opposite. |
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Hmm you statement only shows how inexperienced you are. Experienced users have the understanding on how the market works. They rely on happenings for them to make a new move. In this case where value of bitcoin is not that high, they can even sell it so that they will prevent much losing and start trading. Better study the market more so that you wouldn't have these kinds of mentality.
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bitcoin is worth 180% more since 15/6/17 (last year), however all media and news portals say that bitcoin is dying, a 180% performance in just one year is extraordinary, where you will find a performance like this ? ... because the media and news portals want to see bitcoin dead? ... in my opinion bitcoin is more alive than ever, and I will continue to hold my cryptocurrencies very strong.
Maybe yes. I also notice how some of the media and news portals have posting about bitcoin. It seems that what you have mentioned is correct. In addition, newcomers of bitcoin always wants the high price or value, without even knowing that it is part of bitcoin to have a low amount so that users can buy some coins and to hold it so that when the value goes up, they will earn profit. |
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COUNTRIES THAT BANNED BITCOIN Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not. Several people believe that bitcoin was a blessing and it was an opportunity for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin. Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it. STOP THE BITCOIN!! Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries: 1. Bangladesh2. Bolivia3. Ecuador4. Kyrgyzstan5. NepalIt was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/ that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange. Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia, And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".this was already an old news for updated list https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territoryso what do you think? will your country will ban the use of bitcoin? do you know other countries that ban the bitcoins? Please share it and tell to everyone  I think this is an old news. Some of the countries that you have mentioned aren't now banned bitcoin. Also, the term banning is also wrong, regulate is more accurate. In my country, I don't think it will banned bitcoin. It is because our government knows how beneficial bitcoin is and they also know that it is the fraudsters who are the one who do scam and it is not bitcoin's fault why some are fooled. |
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Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.
Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?
I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.
Please help me understand and ease my mind in regard to this issue.
Thank you
I think it is close to impossible for anyone to buy all the bitcoin available in the market. It will take him so much money that I think no one would actually do this kind of stupid thing or idea. Also you have said that rich keeps getting richer, well not all of them. Majority of them are consistent for the reason that they have doing what they need to do, like providing people's need in exchange of their money. On the other hand, majority of poor people are just contented on what they have that is why they are stagnant. |
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Hmm, on some perspective I think what you have stated is correct. Some people used bitcoin because they think of it as a business or a profit earning venture that is why they invest in bitcoin. I think majority of bitcoin users are like these, but I think there are those people who use bitcoin to its fullest. They consider it not just a business, but a tool like in transactions for buying something, and etcetera.
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Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are. Core is going NOWHERE and getting there pretty damn fast. Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain.
This is 100% the end of bitcoin as we know it. Good thing too. This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.
Seriously? Your account is a legendary ranked but you have this kind of mindset? You are not different to those new comers who have always said bitcoin will be dead, bitcoin will be dumped, or whatever saying bitcoin will never lose again. Those are stupid predictions. Downtrend doesn't mean that it will be always be down trending and eventually dumping. Bitcoin is volatile, and I am quite sure that it will rise again. |
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I love bitcoin and cryptocurrencies. I feel more comfortable doing so and will do whatever that I can to support it. Now tell me how can I work with Bitcoin and cryptocurrencies? Although it is illegal in my country.
My country Bangladesh.
Apologies if this is not the right place to discuss.
Thanks in advance.
I think you can still hold your bitcoin and do things that will make you earn bitcoin. Banning will just restrict you to use your bitcoin in transactions like in buying something and etcetera. You can still hold bitcoin and if you want, try to convert it with your money because there are many ways to do it so that you can still use your bitcoin for you to buy what you want to buy. |
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Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.
I think it is hard for us to determine the number of users of bitcoine using our current technology. It is very hard for the reason of decentralisation of bitcoin and it is very hard to track the number of users and it will take a lot of time. In addition, there are many users who have multiple accounts, and the only way to count is tracking of IP address and again, it will take q lot of time and effort to do this. |
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I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
It is good to have many alternative coins because you got more possibility to have profit because of diversification but the problem is, there are many coins that are usually ending dump. In this problem, the possible solution is to identify the legitimate coins and it is hard considering there are at least 13000 altcoins available. Also, altcoins have no real life use unlike bitcoin and it is just use as money. |
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:)Countries are divided into 3 groups: those who ban bitcoin, those who will regulate it strongly and those who will give complete freedom to development. The second and the third groups us well be satisfied with. This majority. It's enough to survive.Therefore, it is not necessary to look for negative outside of us. ; Yes it is good for us to be satisfied with these things because as what you have mentioned, it is enough for cryptocurrency world to survive but I think it is also not bad for us to what more. What if countries who banned bitcoin would change their minds? I think it will help cryptocurrency world to be more successful. |
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We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
This banks actually needs to adapt to modern advancements happening in the world, but I don't think they will offer bitcoin deposits from now - and this is true for developing, third, and fourth world countries. It is hard for them to adapt these kinds of advancements and they priorities more in implementing their existing rules. In the developed countries, I think it is possible for them like in Japan. |
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I think more and more good or positive news will be added to this good news. This only shows how useful bitcoin is. This news are the news that bitcoin needs in order for it to be more successful than it was and for it to increase its value or price because it will bring more investments and investments means increasing of bitcoin's value.
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Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I think it is very difficult for anyone to negotiate with the government for them to make legal bitcoin especially of your leader already banned or regulate bitcoin. I think the only for it to be legal in banned countries is to show them what bitcoin can bring to the table or what it can do for them and show them that bitcoin is not only used in business. |
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We all wants for the future to be better and easier. I think blockchain technology will be better in the future years. Nothing is impossible with blockchain, and good thing about people is that they make advancement so if now we think that all we need is created what more to the future. I am very optimistic on what will happen. |
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Do you think Bitcoin will remain the most dominant coin both short and long term? Even though it does not remain the most dominant coin, this will not be the same as saying that Bitcoin won’t exist long term.
O think bitcoin will remain as the most dominant coin after a many years. It is because of the advantages bitcoin has. In all the advantages bitcoin has, the thing that gives bitcoin edge is it's decentralization which sets it apart from other cryptocurrencies. I think the only cryptocurrency that is possible to take over btc is eth but it has still a long, long way to go. |
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https://bitcoinmagazine.com/articles/south-korean-supreme-court-rules-bitcoin-asset/ I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction. I think bitcoin is still a currency just like other cryptocurrencies and also national currencies. They only considered it as an asset for the reason of bitcoin's functions or what it can do, but it is still, a currency. I think it is a good news considering South Korea is a rich country and many investors are there. Also, if in a country the image of bitcoin is good, it will also affect other countries 's mindset about bitcoin. |
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Hi guys I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down  But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure  1. Download latest BTC client 2. move to a pc not connected to the internet. 3. Create an address on that PC without internet. 4. Send fund to address created on PC with no internet access. 5. Save keys in safe place Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ? Sorry if my question has been covered many times, but I just don't want to make a big mistake. Thanks Rick There are actually many wallets available that are I think safe and it only matters on the things that you are doing. You can use hardware wallets but it cost some money but I think it is safe enough. You can also try paper wallet but considering of creating or making it, it is time consuming. I think almost all wallets available are safe and it only depends on your carelessness on exploiting your keys. |
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I think a lot of people around us has told us that Bitcoin is a FAD or a SCAM or a Ponzi scheme. Some of our closest relatives have told us to SELL before the BUBBLE will burst. {guess we hear that enough?} The media is telling everyone that Bitcoin is the tool of criminals and terrorists and child pornographers and paedophiles. Most of these people are not invested in Bitcoin, but it looks like they are looking for reasons to attack it. How many of you want to prove them wrong? I sometimes look at these people and I think... WTF are you on about? I seldom bring up the subject anymore, because everything coming out of their mouths are negative. The only time when they are interested, is when the price hits a all time high. Then they want advice to invest in Bitcoin and when they buy at the ATH, and the price drop with 10%, then they panic sell....lose money....blame Bitcoin. I am sooooo sick of this. I hope we can finally prove them wrong in the near future, because this is definitely getting under my skin now.  Hmm, I think we cannot really get rid of these toxic people. All of the type of people you have mentioned are yes, they are toxic. For me, don't be bother from them and just continue what you are doing. I think the best way to answer haters of something is to excel on that thing or to be successful with the used of that thing. |
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