Post
Topic
Board Economics
Re: What is bitcoin backed by?
by
iMark
on 21/09/2018, 00:10:00 UTC
If you are getting so surprised with current prices, what you will do when prices go to a million or above per bitcoin.
For that time, keep your patience under controlled? Are you saying this seriously? I think this isn’t right thing to do. You should keep yourself updated with almost recent information. And this information explains us to become stable and patience for a specified time. You can’t become patient for so long time that leads you to hold your coins for five or six years.
If you have a decent job you can actually hold until when you are going to sell your coin and it doesn't matter if it takes years because it is his/her own decisions to do if something happens. It is important to be updated on the market for you to know if the prices are changes to what exactly it will become after you brought the coin that time
if you already have a steady income other than crypto, of course you have no problem holding a few years of the coins you have, besides that bitcoin is not backed up by anyone, including the government, is it worthed to put a lot of money in crypto and then leave it for a few years?