Ninjastic
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Board Economics
Re: Why Bitcoin is not that good as currency?
by
FlightyPouch
on 17/01/2020, 21:06:19 UTC
Quote from: k@suy on January 17, 2020, 04:59:38 PM
Quote from: FlightyPouch on January 17, 2020, 02:32:22 PM
Quote from: judaspriest on January 11, 2020, 02:18:55 PM
Quote from: elisabetheva on January 11, 2020, 12:05:57 AM
Quote from: bobitza on January 10, 2020, 02:46:22 PM
I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.
maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.
In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

Well, I think it is still good for a long term investment since with the volatility intact, the price will continue to change and we can expect a pumped price in the future, beside it, we can also expect a low price. We don't know what might happen, but the possibility of bitcoin pumping and dumping is always there.
Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

Well, I have a job and the reason that I said it is unpredictable means I don't rely on the profit that I am getting from it. I just said that it is a good long term investment since in my experience, as I save some of my earned bitcoin, the profit is increasing in time but as I said, no one can predict what might happen so I just save it in my wallet, convert some of them sometimes in other alts.