Bitcoin has become more popular in the financial world due to its sudden growth but When I see exchanges there is a high percentage of people who are trying to sell there Bitcoins to make temporary gains using current price increase and some fear this is a temporary situation so they use this moment to abandon the market but My personal opinion is they doesn't understand this is a time that any investor should invest more into Bitcoins because after along time BTC has shown us it is not a Bubble or just another financial failure so as investors we should have a clear understanding in order to make this opportunity an advantage

I wanted to investigate this topic because unlike before today there are many Android and IOS mobile application wallets such as, Breadwallet, Airbitz, Samourai Wallet and many more that allows to do crypto transactions claiming usability and effectiveness but when it comes to Bitcoin the main concern should be the safety than any other because its value and demand so,

1. What is the safest and usable Android Wallet do you suggest to store Bitcoin and to do transactions ?
2. Why do you think it is reliable  ?



 

According to my understanding the energy used by bitcoin mining is not a problem and it is negligible because we haven't calculated how much of electricity is wasted by currency traditional money transferring systems waste world electricity due to there ineffective systems and processes and if we do that we will definitely find what is the best way to transfer currencies and I am very sure that Bitcoin will win because no other technology in the traditional financial system can compete with Bitcoin at the moment

It is ignorable because we haven't calculated how much of electricity is wasted by currency traditional money transferring systems waste world electricity due to there ineffective systems and processes and if we do that we will definitely find what is the best way to transfer currencies and I am very sure that Bitcoin will win because no other technology in the traditional financial system can compete with Bitcoin at the moment

Bitcoin good days are coming and it will never get low in the future but the price will increase more and I know a tragedy happened for Bitcoin holders and investors in last couple of months when Bitcoin price went down most people thought that this is a great and rare chance to invest thinking that the price would double in no time but Bitcoin price decreased further for many political and financial reasons and all dreams were destroyed instantly but I think we can still hope for the best in the future even most investors have faced many losses recently many experts idea is that Bitcoin will be fine due to the high demand it is gaining from major industries and price of bitcoin will increase by time   

Nothing to worry if you are investing now in bitcoin and I know a tragedy happened for Bitcoin holders and investors in last couple of months when Bitcoin price went down most people thought that this is a great and rare chance to invest thinking that the price would double in no time but Bitcoin price decreased further for many political and financial reasons and all dreams were destroyed instantly but I think we can still hope for the best in the future even most investors have faced many losses recently many experts idea is that Bitcoin will be fine due to the high demand it is gaining from major industries  

That happens many times and often these days due to big whales because when market price increase to the highest level because the currency is doing very well with the economy and gaining investors often a huge drop in price take place with a release of considerable amount of tokens into exchanges so most small level investors who were waiting to gain some profits loose large amount of money

I agree because always for major investors there is a big place in the crpto market because unlike the rest investors who invest or sell few amount of currencies the effect of major players actions are much higher due to the large volume and with that market price can be changes highly during purchases and selling so in a way we can say big investors controls large part of the currency market   

Of course even I have heard stories about people who are new to the Bitcoin investment field risking life savings to invest in the cryptocurrency market which I think an unnecessary risk for anyone because the market can be changed due to many things so we cannot definitely say how the future will be considering the past and new in the crypto community but I believe investing in Bitcoin is essential for a certain extend because it is a great investment asset 

I think that is an idea that should be come from governments by considering bitcoin and its advantages that can be achieved by allowing it to be legalized inside the country locally but other than that because there is not centralized party to take actions behalf of Bitcoin I don't think anything will happen and some governments have come to a conclusion like above to accept Bitcoin as an international currency so I hope the rest will do the same thing in the future 

It is sustainable because we haven't calculated how much of electricity is wasted by currency traditional money transferring systems waste world electricity due to there ineffective systems and processes and if we do that we will definitely find what is the best way to transfer currencies and I am very sure that Bitcoin will win because no other technology in the traditional financial system can compete with Bitcoin at the moment 

Nothing wont valuable or relevant without Bitcoin not even Ethereum because we all know Bitcoin was the first to start this crypto currency game in the world by introducing the frst virtual currency and the name decentralized was introduced to the world with Bitcoin so after its success many tried to followed the same path and that is why we see huge amount of digital currencies in the world with different names and features but all of them started with Bitcoin 

Of course if Bitcoin accepted as a common currency by many countries and if Bitcoin become a global currency the world business will be developed and improved for better but it doesn't mean that US dollar, Euro and other major currencies will have no place in the world but I think they will pay there major role like they do at the moment but during international transactions business individuals and others will have an alternative option to select Bitcoin over fiat due to its transaction speed and convenience and definitely if Bitcoin becomes popular as a major digital asset most people will do 

Do you think the Sri Lankan government can do such thing to eliminate cryptocurrencies from the entire country because I don't see any negative effect we have done for the country by making investments and doing transactions using cryptocurrencies and many members in the crypto community focus on making some money without breaking any rules so what is the purpose to take such actions against cryptocurrencies  and its use locally. I hope crypto ban in sri lanka will not happen in the future because so many people just started the journey in the crypto world

Yeah it is true and many know that and that is why even many investors and traders do trading with other Altcoins at last there main ambition is to buy Bitcoin for the future to make profits because it is very clear that as the first digital asset the popularity and the demand it has gained in the world is immense and for other currencies to achieve it that might take many years even than Bitcoin because during that period it might even be the first global currency in the world

I have heard many media news says that even reputed business people and the main point they show that Bitcoin has no value and no use in the real world but the sad story is true and it is not its fault because the world needs some time to include get use with Bitcoin with there businesses but at the moment Bitcoin is an investment for the world and the crypto community and If this situation continues and most people keep using Bitcoin as just an investment end of Bitcoin will come soon because when it comes to reality there is nothing considerable can be done using Bitcoin so how can a currency can exist when there is nothing can be done using it. But we see few businesses that providing payment options in Bitcoin so only the time will decides what will be the path that Bitcoin will select and no matter what that is there will be a significant effect in the crypto currency market and the community

Bitcoin is an investment for the world and the crypto community but If this situation continues and most people keep using Bitcoin as just an investment end of Bitcoin will come soon because when it comes to reality there is nothing considerable can be done using Bitcoin so how can a currency can exist when there is nothing can be done using it. But we see few businesses that providing payment options in Bitcoin so only the time will decides what will be the path that Bitcoin will select and no matter what that is there will be a significant effect in the crypto currency market and the community

According to my understanding Bitcoin isn't a bubble but Most people will disappoint if Bitcoin price decrease further and if that happens most investors will definitely abandon the crypto market forever because even now the losses are very high and many investors are not yet moved because the invested amount is still holding as Bitcoins with a very less price than they purchased thinking they will at least get the invested amount in the near future. But no one can say that Bitcoin will crash or this trend will continue for certain because we see both negative and positive sides so only the time will decides what will be the path that Bitcoin will select and no matter what that is there will be a significant effect in the crypto currency market and the community

Even the world is ready technologically considering the bad announcements we get from governments it seems like politicians are not yet ready but cryptocurrency progress should continue forward because if it stays in one place because of political restrictions there is no way cryptocurrencies can succeed in this changing world 

Some Governments officials think and claim corruptions and criminal activities could increase with Bitcoin use and that is a major issue many countries face at the moment and even these criminal activities using Bitcoin are not done in large scale by criminals up to certain level Bitcoin is used to support such criminal activities