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A lot of scams have caused the fear of theft among people and they are regarding bitcoin and its trading a scam. People seem to be reluctant towards investing in bitcoins. How do we ensure them that bitcoins are not scam but the people are. 
In general, convincing someone who already has some specific opinion about something is very difficult. And indeed, the large number of ICO projects that turn out to be scam do not help the good image of the crypto world and the BTC.
Bitcoin is the worlds 6th largest currency. These figures are noteworthy, but if the value of a single Bitcoin goes up to $15,000, Indias currency Rupee will pass. Ethereum ranked 17th and Bitcoin Cash ranked 20th. Ripple is located just below 20.
How many years Bitcoin will need to become No.1 ?
How many years Bitcoin will need to become No.1 ?
From the current point of view, I think it will take quite a long time until it happens. The economy is not ready for such changes and I do not think other currencies (particularly the dollar) will have such a downturn in market control.
Take your time now to study how market price moves in the crypto market. I had realize that those market price fall down are perfectly performed so that we can see how much potential profit may get if one will going to invest now. This is just like jumping up high and one must take down to the groud first before opposing the force from the ground to jump up high. I can say that the kick off for crypto market price increase will going to start up soon.
It is difficult to say when the price rise will begin and I do not think it will start just like that. I think there should be an some occurrence to make a turnaround in the market. But on the other hand, I hope you'll be right.
Bitcoin is now at about 6k$...
I bought tons of bitcoin when the price was at 3k$ and then sold at about 17k$, I made profits then, but now I don't think that the price can go up again...
Will it?
I bought tons of bitcoin when the price was at 3k$ and then sold at about 17k$, I made profits then, but now I don't think that the price can go up again...
Will it?
If you believed the BTC when it was 3K $, you should trust him now when he's at 6K $. I think soon BTC will start a significant price increase and finish at least over $ 10K at the end of the year. But in the longer term, I think its price will reach much more than December 2017.
What can you say about China of closing their rigs/mining?
This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
This could overshoot the price to the moon or plunge the price below the ground?
Those holding btc just brace yourself fasten your seat bet for possible vortex of price.
I do not know if this has somehow contributed to the negative development of the crypto market this year.
But I think it should not have much influence.
As an investor one thing you shouldn't engage yourself with is Predictions, if you want to be successfully in this Crypto ecosystem, you need to stay off any form of market prediction.
Here are few reasons why you shouldn't engaged with it (market/price prediction)
1. Predictions can be wrong
2. Listening to predictions makes you a speculator
3. Listening to predictions makes you an onlooker
4. Price prediction gives you nothing for today, only false hope
5. Listening to price prediction makes you think in one direction
Finally
Dont let speculation and assumption make you decide what to do.
Here are few reasons why you shouldn't engaged with it (market/price prediction)
1. Predictions can be wrong
2. Listening to predictions makes you a speculator
3. Listening to predictions makes you an onlooker
4. Price prediction gives you nothing for today, only false hope
5. Listening to price prediction makes you think in one direction
Finally
Dont let speculation and assumption make you decide what to do.
Yes, you are quite right. We must always rely on our own thoughts and intuition. We need to do our own research and only then make important decisions.
Re: Can Artificial intelligence and blockchain be used together?
Will it be possible for the future projects in blockchain and for bitcoin to involve Artificial Intelligence in its working for increased efficiency? And will the use of AI be even useful or possible?
Interesting question. I think this is not a problem. Even in my opinion, when artificial intelligence reaches get into the mass business, I think they will be really useful for all projects.
How do I determine and invest in something which can turn on in the coming years.Like a person who invested in Bitcoin in 2009(when Bitcoin was less known and popular) had received a huge appreciation in coming years.How to sense and identify that Next Big thing?
Maybe one of the important things to do this is the constant research. But I think it takes a lot of luck also. And there are people who have just been born with some 6th sense for these next big things, and I think this thing can not be learned just like that.
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 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.
In my opinion, the main reason why governments resist the BTC and the other crypto coins is that they have no control over them. The main idea of BTC is to be decentralized, which can not be ruled by governments. And if that changes, then the whole idea of BTC will be defeated.
After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.
I fully agree with you opinion. And in my opinion, the hopes of most people at BTC to reach cosmic prices are quite exaggerated. Perhaps it will be just a digital currency at a normal price in the future.
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
In my opinion, BTC may own these three marks, but it is still far from becoming a primary payment method. I personally think this will not happen soon anyway. There are still a number of disadvantages to this purpose.
The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
I do not think Bitcoin and, in general, all crypto currencies are a bubble. With every bigger drop in the market, everyone hopes this will be the end, but the BTC and other coins return stronger. I think this time it will be like that again. In my opinion, more and more people are starting to believe in BTC and more and more people are entering into the crypto world.
Re: Just got a little extra money and want to invest in crypto, should I?
Hi I just got some extra money and I'm looking to invest, I want to invest in BTC but the price is too high for me, what do you think will be the next BTC
one you can buy low and make a good profit when it burst?
one you can buy low and make a good profit when it burst?
I personally do not think the price of BTC is high. I think it will not fall below $ 6,000 this year. So I would advise you to invest now before it starts to rise. Or choose some altcoins.
Now a days we sometimes seeing the price of Bitcoin falling along with others also falling.
At that time if I have Bitcoin then what should I do ?
Should I sell or hold?
At that time if I have Bitcoin then what should I do ?
Should I sell or hold?
These declines of BTC are negligible if we look in the long run. In my opinion, the right solution is not to worry about and holding your coins. I personally would not sell.
If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
Generally, I'm not sure any crypto coin can become an international currency. But even so, in my opinion, both options are possible. Or it will rise drastically or the price of this coin will drop. To be honest I do not know.
Re: What new feature could potentially make bitcoin more valuable?
I know that it's kinda 'big' question but it will be great to see what the community think about that.
what do you think can cause the price to go up?
what do you think can cause the price to go up?
I personally am not quite sure what you mean but still. In my opinion, the market price may rise if demand is higher. This may come either from new investors or if there is some event that may affect to the coins.
What is your opinion as per Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.
Many people have a different opinion on the issue of the crypto currencies. And that Warren Buffett is a proven investor, I do not think that makes his words an absolute truth. I personally think there is a future and it is yet to be seen.
Peak - 16 Dec: 20.000$
Dip - 30 Dec: 12.600$
Peak - 6 Jan: 17.100$
Dip - 5 Feb: 6.900$
Peak - 4 Mar: 11.500$
Dip - 7 Apr: 6.600$
Peak - 5 May: 9.800$
Dip - 28 Jun: 5.800$
Peak - 24 Jul: 8.400$
Now we are at 6.200 going down to the next even deeper dip
This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral
Dip - 30 Dec: 12.600$
Peak - 6 Jan: 17.100$
Dip - 5 Feb: 6.900$
Peak - 4 Mar: 11.500$
Dip - 7 Apr: 6.600$
Peak - 5 May: 9.800$
Dip - 28 Jun: 5.800$
Peak - 24 Jul: 8.400$
Now we are at 6.200 going down to the next even deeper dip
This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral
Things presented like that do not really looks very good. But overall, I think the market will start to rise more than expected. We only have to find out when.
I engaged with young people and layman people in my communities on the quest of exposing them to cryptocurrency. During the period I discovered that they find It so difficult to understand the concepts, they are so much acquainted with fiat currency and traditional ways of making payment transactions.
I will be impress If I can get a valuable ways and methods in making them understand what cryptocurrency is all about and engage them actively.
I will be impress If I can get a valuable ways and methods in making them understand what cryptocurrency is all about and engage them actively.
It's really hard for most people. That's why most of them think crypto currencies are some sort of scam. And the strange fact is that even young people can not understand the basis of the crypto currencies.
A lot of posts are about bitcoin (eg bitcoin for illegal transactions ... bitcoins change lives ... bitcoin destroys the world ... bitcoin poison and so on) but basically it's all humans that move .. bitcoin is the tool. Good bad how the tool is how the man who runs. is it worth blaming bitcoin. What is your opinion?
You are quite right. Behind every thing, whether it will be good or bad, are the actions of the people that are behind it. There is no way to blame cars for that they can crash when we can not drive.