Bitcoin is now a investment. when almost more than 90% total bitcoins are mined out it will become as a currency.
Why it's a investment now: To attract new users to go every commerce to become world's main stream currency. Once prices of bitcoin stabilize then people will use it as currency.
Topic: A currency or investment? (Read 3432 times)
Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
I take bitcoin only as investment. But not in trading. I don't have time to follow the moving of the price of bitcoin, I don't believe in various predictions about the trend in which will move the price of bitcoin and this make me have fear to sell my bitcoins because the price can go down instead of going high and because (this is totally irrational) have satisfaction have bitcoin in my wallet in every moment. The last reason make me feel good (for the part of me that regards bitcoin).
I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?
Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)
Btw Im saying about mining altcoin, it wont cost you that much right? You can rent through some website too like hashnet to get some pool mining, you dont need to do it alone buying so many mining equipment. This will cost you high for sure, but if you rent some GHs may be it will lessen your cost with recent price.
I think bitcoin has both function, as an investment currency and of course, if the functions in the currency, bitcoin has almost all the advantages, such as easy to send, not easily damaged and very rare. if the functions in the investment, bitcoin is very advantageous because, in the future bitcoin prices will probably go back to $ 1,000
both ......... bitcoin is a currency & also an investment
AS you have mentioned already, bitcoins are used as currency, investment, payment and tipping etc. We all know it has numerous roles to play and its pretty amazing. But if you have to choose it either as a currency or investment, i suggest you go with the latter. Why would i spend something whose value is likely to be 10 times in the next 10 years? Sounds like an amazing investment to me!
Well if you ask me, bitcoin pretty much serves both as a currency and investment. However, its prices are always fluctuating and have shown immense growth in the last 5 years. This uncertain feature of this beautiful virtual currency makes it a verry useful investment. Investing in bitcoin is a long term process and one shouldn't expect quick results. Have patience while you invest, and you'll definitely feel good about your decision after the next 5 years or so!
I believe it's an investment since the price of the BitCoin keeps fluctuating.
That can also be a good thing that its price is fluctuating, it shows activity, it depicts growth. As the currency is growing higher and higher, it is also resulting in more trades or lets say, displaying activity of more trades going down in the market. That can always be a good thing as the currency and investment both grow, and benefit each other.
I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?
Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)
So you have the equipment to mine now, but you stop because you are not making any profit, worse you are in loss. Say this continues for 6 months and then the BTC price shoots up to, lets say, 800$/BTC.
Wouldn't it be late to restart mining then when all other miners come back to the game and push the difficulty up? If you truly believe in bitcoin, why not continue mining and swallow some loss now and sell for profit later?
(Of course, if you can afford and assuming it was not the main source of your income)
I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?
Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)
I believe it's an investment since the price of the BitCoin keeps fluctuating.
the price fluctuate also in fiat, to a minor extent, but still fluctuations are those, , so this is not the issue, bitcoin is more of an investment becuase of its great potential to rise to unbelievable price, when that price will be reached bitcoin will turn to a currency
Bitcoin serves both the purposes, its a great global currency as well as an investment. However I believe it's better to use bitcoins as investments since its prices keep fluctuating and so far we've seen a good rise only. Keep your BTC for 10 years and you might become a millionaire, great investment isnt it?
It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.
you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.
Just above $1000 is completely reasonable, and will need to go up to $1M USD to encourage victimless economic liberty transfers from tyrants' fiat. Once it hits $1M USD, each satoshi will be equal to 1 US penny, and the number of decimal places will have to be increased in the software.
Not selling BTC for less than the All-Time High≠Not holding forever.
Just above $1000 wouldn't make me rich.
I'm not sure if those two things are compatible. If it was indeed artificially increased to the "all time high" then probably what we see this year is the "real value". For the past 6 months we are in the 250$ range (chart)
The current market cap according to https://blockchain.info/charts/market-cap is just under 4 billion $. If we wanted 1M$/BTC today, this would need to be 14'500 billion $. (~14.5 million Bitcoins currently each worth 1 million $; 3600 times of what it actually is). Now, how long do you think it would take for the bitcoin network to grow by so much (realistically)?
(I am not entirely sure if value can be solely based on how much money was put in the system, but by bitcoin's own "value" as well. Regardless, I think the above is a good indication.)
It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.
you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.
Just above $1000 is completely reasonable, and will need to go up to $1M USD to encourage victimless economic liberty transfers from tyrants' fiat. Once it hits $1M USD, each satoshi will be equal to 1 US penny, and the number of decimal places will have to be increased in the software.
Not selling BTC for less than the All-Time High≠Not holding forever.
Just above $1000 wouldn't make me rich.
I believe it's an investment since the price of the BitCoin keeps fluctuating.
Once it's considered a store of value, widespread use as a currency will blossom. You can use it as a medium of exchange right now but it's a niche. I'd guess that it's an investment for most people who hold it right now.
Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
People use bitcoin as both currency and investment. They usually start out with using it as a currency and it turns out to be an investment as bitcoin is very reliable and promising. Using bitcoin as an investment would profit you a lot , so you should try investing in it.
It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.
you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.
Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.
Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates
I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess
You wont even know about how will bitcoin go for the future. People here are saying that bitcoin is going to rise in some years may be 10-20 years but thats all is just speculation, although I know that bitcoin is a developing coin that will earn you a lot but without any support bitcoin wont be a good investment at all. Get one bitcoin is not enough if you are make this as your back up investment because it is too little for covering what you loss in the future with bitcoin price around $500
Bitcoin is constantly getting more support from a lot of fronts. A super long term investment of 20 years may make sense to own at least 1 BTC, but to be on the safe side, I would own at least 2 figures of BTC in my stack to be on a guaranteed success area.
How are you so sure? May be in your country it gets supported buy most country doesnt support on bitcoin because bitcoin will become threat to them thats why government are trying to press bitcoin as much as they can and make fiat as the only currency. If you want safe side you really need around 10 bitcoin or more and that will guarantee you will live on luxurious life. Only 2 bitcoin you really need to hope its price will rise more than $10,000
At the current point I'd say its rather an investment. Most of the users here and on exchanges (I'm looking at you too!) are simply holding (hodl) and expect an increase in price later on. If it was a true currency, people wouldn't be afraid of actually spending it rather than sitting on it and waiting to maybe become rich in 1/5/10/whatever years.
It has the potential to become a currency, but for that we must wait.
It has the potential to become a currency, but for that we must wait.
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