buying bitcoin is like immigrating to a new country

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Quote from: Betwrong on August 05, 2019, 07:55:15 AM

Quote from: MonsterV on August 04, 2019, 03:16:18 AM

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But on the other hand we also can not be confident that bitcoin will become zero, it could have been if all governments in the world banned the circulation of bitcoin. Maybe we can still trade with bitcoin, but we can't withdraw it because all crypto services will be banned by the government. That's when I think the value of bitcoin will be zero.

But let's be realistic, it's never going to happen. There are many disagreements between governments regarding many things. What is illegal in one country can be perfectly legal in another. If almost all countries in the world would ban crypto exchanges, there would be still at least one or two where those exchanges would be flourishing, and then, seeing the economic benefits of such legislation, other countries would follow. Also, currently, there are no signs of banning crypto services by most governments in the future.

You are absolutely right, there are lots of developed countries that has bought into the idea of the bitcoin cryptocurrency now, and many of these developed countries has even been using it for a while now without seeing any unpleasant effect off it on their countries and their economy. It is when people has not applied it that they assume it will cause damage, but those who have applied it will testify as we can see that there has not been any negative news from the government of those using It already.

It is just Like you said, to get all government together to put a stop to bitcoin will be difficult as we will have many countries that would still be suing it, and any local exchange will simply just operate off radar and then people would still be able to change their crypto.

Betwrong

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Quote from: MonsterV on August 04, 2019, 03:16:18 AM

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But on the other hand we also can not be confident that bitcoin will become zero, it could have been if all governments in the world banned the circulation of bitcoin. Maybe we can still trade with bitcoin, but we can't withdraw it because all crypto services will be banned by the government. That's when I think the value of bitcoin will be zero.

But let's be realistic, it's never going to happen. There are many disagreements between governments regarding many things. What is illegal in one country can be perfectly legal in another. If almost all countries in the world would ban crypto exchanges, there would be still at least one or two where those exchanges would be flourishing, and then, seeing the economic benefits of such legislation, other countries would follow. Also, currently, there are no signs of banning crypto services by most governments in the future.

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Quote from: Betwrong on August 04, 2019, 01:54:45 AM

Quote from: Oceat on July 30, 2019, 06:30:18 PM

If whales are planning and that in the future, i'm sure the price would plummet hard but why would they do that?
What's the point of holding a bag of coins if there's no value at all?
I'm pretty sure whales aren't planning like that if they want to circulate the money then they will have to circulate their Bitcoins too, somehow.

I too think that dumping big amounts by whales is a very unlikely scenario. I mean, even if one of them decided to do that, others would quickly buy up his selling orders because they are not interested in the price plummeting.

To OP, maybe buying Bitcoin is like immigrating to a new country, but this new country is much better than the one you've been living in before. Anything can happen, right, but the probability of Bitcoin going to zero is extremely low. People moving from Congo to Germany don't expect to find the same situation there, and they are right.

Whale thinking in every country is different, just as the whale in country A wants prices to fall, but the whale in country B does not want that, then the whale of country B will immediately recover the price and this is where war the dumping and pumping between the whales, so prices will always be balanced and a little the possibility to fall to zero.

But on the other hand we also can not be confident that bitcoin will become zero, it could have been if all governments in the world banned the circulation of bitcoin. Maybe we can still trade with bitcoin, but we can't withdraw it because all crypto services will be banned by the government. That's when I think the value of bitcoin will be zero.

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Quote from: Oceat on July 30, 2019, 06:30:18 PM

If whales are planning and that in the future, i'm sure the price would plummet hard but why would they do that?
What's the point of holding a bag of coins if there's no value at all?
I'm pretty sure whales aren't planning like that if they want to circulate the money then they will have to circulate their Bitcoins too, somehow.

I too think that dumping big amounts by whales is a very unlikely scenario. I mean, even if one of them decided to do that, others would quickly buy up his selling orders because they are not interested in the price plummeting.

To OP, maybe buying Bitcoin is like immigrating to a new country, but this new country is much better than the one you've been living in before. Anything can happen, right, but the probability of Bitcoin going to zero is extremely low. People moving from Congo to Germany don't expect to find the same situation there, and they are right.

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

In a real-world, no investment is really safe, even the most stable banks are having a bank run, don't always 100% sure on your investment, in stock in in real estate, always have something to keep in times of emergency, read a lot of articles about investment and keep updated, it's your ticket to wealth.

yslyv

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Quote from: jessylann on July 30, 2019, 09:02:58 PM

I agree with you, But I still want to tell those who put all money in bitcoin, Don't give up on your normal work and life, Indulging in it will only be counterproductive. Even if I have some bitcoins, I will not give up my career. Now I have 3 b2c websites which selling many kinds of products, like sololita , midilady and wigs, I meaning abandoning your career will put you in more risk. If you fail, you will have no retreat. This is really too risky!

it is so correct. i was also thinking about it and finding my salary very low comparing to the earnings and potential in the crypto market. but when i witness that long bearish season i realized that working and continuing with the career is a must.

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Quote from: MonsterV on July 29, 2019, 01:57:34 AM

Quote from: fullhdpixel on July 27, 2019, 02:39:49 PM

--snip

Don't talk that it's impossible, in the future everything can be possible with what you say is impossible now. Have you ever studied history when in ancient times, everyone transacted with barter, where they exchanged between their belongings that other people needed and the things they needed. But over time, everything was replaced with money, well maybe at that time someone said like you, that it was impossible to replace the barter system. But believe in the future there will be a currency that is better than bitcoin, of course it's still very long. So enjoy your bitcoin now because I'm enjoying it now.

The same way barter became outdated and then replaced by money is the way that money too can become outdated and be replaced by cryptocurrency. After all, money was first created and proposed by someone, which they saw the sense in it and then probably adopted it because it will make the means of transacting business easy.

In the case of cryptocurrency, it was actually meant to make the means of payment easier than that of money, and if not because of the decentralized technology of it that they do not like, government may have actually adopted it by now and then also pass it into law. So, bitcoin is still very new for it to even think of getting to zero, it is still at the stage off getting the attention of government and many users, so what will zero it now?

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I agree with you, But I still want to tell those who put all money in bitcoin, Don't give up on your normal work and life, Indulging in it will only be counterproductive. Even if I have some bitcoins, I will not give up my career. Now I have 3 b2c websites which selling many kinds of products, like sololita , midilady and wigs, I meaning abandoning your career will put you in more risk. If you fail, you will have no retreat. This is really too risky!

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

...If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

I don't think that is possible to happen in bitcoin, unless if all country has banned bitcoin, even though the country was banning bitcoin still there are few people use bitcoin so I don't believe it will turn to zero value. The price of bitcoin depends on the demand and the supply and I think there are many holders together with the whales. Also, in addition, there are miners who keep mining for bitcoin transactions fee so do you think Bitcoin will turn to zero value? And of course, speaking of investment only invest what you can afford.

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If whales are planning and that in the future, i'm sure the price would plummet hard but why would they do that?
What's the point of holding a bag of coins if there's no value at all?
I'm pretty sure whales aren't planning like that if they want to circulate the money then they will have to circulate their Bitcoins too, somehow.

yslyv

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if you think about financial power of the bitcoin yes. you are right. but if you consider the potential of the blockchain technology i would say that it is like exploring new planets. much more than immigrating to another country. Wink

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Thats the point. Crypto is all about speculation

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Quote from: pragna on July 29, 2019, 12:27:50 AM

Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

Yes as a volatile market you can say this. Actually all are unconfined here about crypto market so that market is too much unstable. There is no regulatory board that can control market as well as. So anytime it can be zero or it may be high. But those we who are crypto lovers try to long live crypto.

It's everyone's assessment to work for their future, there's no clear destination indeed as everything still relied to speculative guessing if what path bitcoin will go, same with migrating as the title itself you are moving into something that you are fully new and you don't have any specific road to take, what you have is the guts to believe that somewhere out there you'll find comfort and success, you'll continue to travel surviving for what the industry will brings you out.

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Quote from: binhvo1505 on July 29, 2019, 01:00:35 AM

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or if some whales lose their wallets, I think Bitcoin will lose more value and possibly to zero.

I think it's quite the opposite. If some whales lose their wallets there will be less BTC available for purchase, and with the same demand the price should rise instead of going to zero, as you suggest.

Quote from: MonsterV on July 29, 2019, 01:57:34 AM

~Maybe bitcoin will be zero, when there is a new bitcoin in the future, but what is clear is that it is still very long.

There are thousands of "new Bitcoins" listed on CoinMarketCap already. None of them can replace BTC, and although some of them claim to be better in many regards, the probability of such a replacement(even in the far future) is close to zero. Keep in mind that Bitcoin is not standing still, it's evolving, having a great team behind it.

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

everything is similar to the real life we live in , using something new and without clear established rules aka decentralized
immigrating to a new country could be a huge success - one could blend in , find a good job , get a good mortgage and live a full life
it could fail dramatically too , it all depends on what and how you do it
with bitcoin it is same: you can buy it on the highest of peaks and then sell cheap and regret about it , writing about how useless it is everywhere
or you could use it wisely , buy and hold or pay for things that you need
putting all your money in bitcoin is not a wise thing to do , same as with any investment , you do not go balls deep all in

Distinctin

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That does not come in my mind, I know buying bitcoin is risky but I don't risk a lot on this, and even if I lose, this would not change my life, nor affect my life but if this will become successful, I am hoping it would give me financial freedom.

Maybe my goal is just too high but that's just the way I think, because I believe we are in the early stage still and therefore it's potential to be successful and bring success to its investors is also high.

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

Indeed bitcoin does not have a full holder that we know its identity, or we can say we buy the currency from satoshi nakamoto, moreover bitcoin has a digital concept that is true as we buy and are in a unknown country.

You should know that behind Bitcoin is blockchain technology that has transaction advantages, we really can't underestimate the possibility of bitcoin becoming zero, but if you imagine that blockchain technology is adopted by several large companies, then what percentage of bitcoin becomes zero?. We see that big figures start making cryptocurrency like Libra, so I'm sure this will have a better impact on the development of cryptocurrency not just for bitcoin.

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Quote from: fullhdpixel on July 27, 2019, 02:39:49 PM

Bitcoin will never go zero and I will give you just one reason. I will not argue it with you that we still have whales who are manipulating the cryptocurrency market now, and especially that of bitcoin with large funds and this is why we have been seeing the high fluctuation most time, but as we grow in bitcoin, their activity will gradually start becoming less because bitcoin has infinite supply, and they will not always get bitcoin to buy once bitcoin supply becomes fished.

By that time too, they would have pulled out virtually all their investment, in which the value of bitcoin would have also becoming too high for them to manipulate. Bitcoin is still very cheap now, and reason why they can buy as much as they want, so someone with 500 million dollars now could invest and buy up to 40,000 btc, but what of when bitcoin becomes 1 million dollars, how many of bitcoin do you think they will be able to buy, and how would they manipulate the market with such quantity.

Don't talk that it's impossible, in the future everything can be possible with what you say is impossible now. Have you ever studied history when in ancient times, everyone transacted with barter, where they exchanged between their belongings that other people needed and the things they needed. But over time, everything was replaced with money, well maybe at that time someone said like you, that it was impossible to replace the barter system. But believe in the future there will be a currency that is better than bitcoin, of course it's still very long. So enjoy your bitcoin now because I'm enjoying it now.

Quote from: BitcoinHunt3r on July 28, 2019, 10:37:37 PM

I believe it, maybe will out from crypto when time has come. It is right even it has possibility to be zero but it is very small maybe need a many years or maybe very bad news to make bitcoin to be zero.

To make bitcoin to zero, I think it takes more than a century. It is true, when the whales sell all of their bitcoins, of course there will be other whales that are ready to accommodate, even though the price will go down but the demand will rise again over time.

Even very bad news won't make bitcoin zero, even though all countries prohibit the use of bitcoin, the value of bitcoin will not be zero. If you know, there are actually still many other parts of the internet that use bitcoin as their payment method. Maybe bitcoin will be zero, when there is a new bitcoin in the future, but what is clear is that it is still very long.

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

That is entirely possible. Because Bitcoin is without the manager and the valuation of Bitcoin being raised by the whales is very high. Therefore, if an economic day is in recession, I don't dare to guarantee that Bitcoin can maintain its current performance.
or if some whales lose their wallets, I think Bitcoin will lose more value and possibly to zero.

pragna

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Quote from: franklin2058 on July 12, 2019, 11:28:38 AM

It seems nobody knows how many whales are out there, these whales maybe extremely selfish. Therefore, it is like a country with UNKNOWN Gini coefficient and UNKNOWN leaders, therefore very UNCLEAR economic future. In other words, it is very difficult to predict its future.

From what I understand, if we consider in the near future, even if the scaling problem are completely solved, bitcoin may still fail because reasons list above in terms of wealth distribution. If you buy bitcoin now, it is like immigrating to a new country. Never underestimate the possibility that bitcoin may go to zero. Do NOT be too confident with bitcoin and put all your money in it.

Yes as a volatile market you can say this. Actually all are unconfined here abouty crypto market so that market is too much unstable. There is no regulatory board that can control market as well as. So anytime it can be zero or it may be high. But those we who are crypto lovers try to long live crypto.

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