buying bitcoin is like immigrating to a new country - page 2.

BitcoinHunt3r

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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.

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.

Moshaid

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Not everyone can afford to migrate to a new country, especially if the country is a rich country with high cost of living, with this bitcoin has given the option to start from a small country to have the chance of living in a big country that has cost of things. With the decentralised option of bitcoin, more people will have the opportunity to migrate to any country of there choice at the long run.

fullhdpixel

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

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.

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.

coin-investor

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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.

It's hard for me to believe that Bitcoin will go to zero because of the distribution, it could go to zero if there are disruptions in the blockchain, but not in the distribution, because even if these whales dump their shares, there are still buyers, it's better that these whales dump their shares so we can have equal distribution, if only people are willing to buy.

deisik

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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

I'm not sure what you are trying to get across here

Yes, Bitcoin may kick the bucket, but most certainly it will be the last to do so among its rivals and peers (read, other cryptocurrencies). And what does that have to do with emigrating to a new country (as it should definitely be emigrating, not immigrating)? For an illustrative example, imagine you buy a foreign currency, so do you really think yourself like moving to a different country? Although I agree that by buying a foreign currency you expose yourself to the risks which are inherent to that currency, your comparison still seems to me a little bit too far-fetched

barbara44

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Quote from: b3llsf1l3s on July 15, 2019, 12:16:17 AM

That is why it is very important to educate people who still don't really understand the ways of Bitcoin and get their profits working. They only know that Buy then Hold Bitcoin without looking at the risks that are likely to be faced.

But this should not be used as an excuse to avoid it

it is true that the risk of holding bitcoin is very large if we buy at a high rate, most greedy people buy and do not know the risks that will be obtained and eventually they experience losses

Bitcoin itself is not risky, but we are the one that has created the risk we see in it now for our self by strictly turning it to investment, everywhere I go, everywhere I turn to, all I see people speak of is investment, if we were using the cryptocurrency properly, I am sure that the whales would not even got the chance to be able to invest largely in it.

Imagine that I get paid in cryptocurrency now, and I move it immediately into fiat, would whale be able to manipulate the market if I don’t have any saving in it, but because we only see it as investment, that is why we put so much money and leave it in the market for too long hoping that whatever we kept there will multiply our savings. Many investors needs to be wise and be keeping only money that they can afford to lose otherwise, they will keep enriching the whales.

Hallmader

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Honestly speaking, I am sharing your reservations in a way. I am not a fan of whales myself. Especially with a digital currency which is very sensitive to news and decisions on the trading platforms, its value could easily be affected by whatever the whales may decide to do. That is something that puts the entire fate of Bitcoin in their hands. But I hope that as Bitcoin grows old, adoption will grow wider and wider and Bitcoin ownership will also be spreading.

maxreish

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The moment we've entered the crypto world, we are aware of the complicated consequences like whales, market's volatility, higher risks and etc. Therefore, we know exactly that when we buy bitcoin we are taking the "unsure" results. Bitcoin's ability can't be predict, it can easily dumped or pumped higher unexpectedly. Thus, we can not underestimate it.

I do appreciate your statement as it is an eye opener to most of us here not to put all your money in bitcoin investments. That reminds me of a saying, invest money that you can afford to lose.

barbara44

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Quote from: TheCoinGrabber on July 20, 2019, 12:45:58 PM

LOL if only Grin

Manipulation exists everywhere, be they the stock market or company stocks. There's nothing that can be done to completely eliminate it.

The main benefit in bitcoin is that you can just start small. If ever you lose it, it's not much of a problem (in general, you should NEVER risk all your money in just one thing). The likelihood of it totally going to zero is also not large as compared to some stocks which may never recover. If the whales dumped bitcoin hard, there would always be people who would risk buying the low. I mean, people bought it when it was $20.

You are so right about that, even if bitcoin dumps so hard back to its original value, it would not still take up to a year for the price to bounce back, bitcoin is not like other altcoins that we see in the market that once they are manipulated and dumped, they end up dying. Bitcoin has too much of use case that no matter the dump, it will only halt for a short time and then pick back, op should not forget that this whales are somehow still a blessing in disguise for some people.

without the whales to pump the coin a little bit and cause fomo that would increase it, there is no way those who bought at dip would make money, so whales will always manipulate the market, but we can absolutely learn to play along with them.

fortunecrypto

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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.

Whales are here to stay because this is a free trade no one can restrict anybody to buy all he wants to, like the old saying fortune favors the bold, and in every market, there are always whales, whether we like it or not, and I don't think the distribution will be a reason for it to go to zero, maybe if there is a disruption in the blockchain.

shoreno

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you can do a research before you migrate on a certain country , you can know thier leaders if they are freindly but on bitcoin its pure unpredictable therfore i wont agree on what you have said although investing on other cryptos can be a simillar when your migrating to a new country because you need to do a research first if what cryptos are the best . back on bitcoin , i dont agree that bitcoin can turn into zero , but i agree that it will decrease though not too much .

Gibreil

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The power of technology is seen throughout the world. The continuously moving and upgrading of globalization helps the people to connect wherever you are in globe. In fact, it is not only in form of cryptocurrency that will connect us all people. But in different forms, we are just like immigrating other countries. Because of global interconnected, we are highly benefited. Specially those who are giving the opportunities to become wealthy.

TheCoinGrabber

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LOL if only Grin

Manipulation exists everywhere, be they the stock market or company stocks. There's nothing that can be done to completely eliminate it.

The main benefit in bitcoin is that you can just start small. If ever you lose it, it's not much of a problem (in general, you should NEVER risk all your money in just one thing). The likelihood of it totally going to zero is also not large as compared to some stocks which may never recover. If the whales dumped bitcoin hard, there would always be people who would risk buying the low. I mean, people bought it when it was $20.

jak3

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That's what people say "never put all of your eggs in one basket". I agree that starting with the new technology like Bitcoin or any other cryptocurrency is like migrating to a new country or learning a new language but at the end it all worth, you will get the fruit if you give your time and your patience in it. I know it's not easy but if you want to get something new and very cool you have to get out of your comfort zone. And by the way in some years Bitcoin will actually be like immigrating to a new country because of Bitcoin.

Schirer

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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.

Incredibly hard to understand what are you trying to tell with this post.

You start by talking about whales and then jump to some problems which bitcoin has to overcome technically..
If you want to say that whales can make btc go to zero, you are wrong. Manipulation exist especially in these markets but noone is interested to shatter bitcoin completely because then there will be no money to be made.

elisabetheva

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Quote from: brotherwood12 on July 13, 2019, 10:29:51 AM

so true , but i think its same as other investment we dont know how or who make that price or the cause of price rising or lowering
what we can do its just analyze and hope the best for our investment

However investment is risky and everyone knows that. prices up and down can be caused by many problems and of course we are difficult to analyze, but if we do not have the courage to do something we certainly will lose the opportunity that should be obtained.
bitcoin is an investment and opportunity, a good opportunity is not at any time to be repeated with profitable things.

bitgolden

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Quote from: jonaire99 on July 17, 2019, 04:03:49 AM

Whales has been the object of debate when it comes to price manipulation and some traders believes that they are the ones who can control the price of a coin for their own benefit. My initial week of trading was already full of stories on whales manipulating the price of a certain coin but no one can able to prove if they really exist to manipulate the market. Whales are just like other crypto investors and the only difference with them is that they had big funds that enough to change the market prices.

They exist mate, they are just very clever in the way they operate, wall street started this and it is not hidden to know that they exist, the reason why you don’t see them is because they basically operate over the counter, so you would not see these whales really manipulate the market online, they do that more over the counter.

When they want to sell their coins that will make the market dump, they do all that over the counter. I know we have quite rich people, buy they are not enough to really manipulate the way that whales do manipulate it. I believe that they are able to do this because the technology is still very young,but once the market becomes fully developed like the Forex and stock market, all these will surely stop.

aioc

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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.

This bubble theory still persist on some people even though we are in the tenth year, there is no country to migrate we all started the same, we just need to educate ourself first, nobody comes here that already knows everything about Bitcoin, and about whales, every trading market always had whales or a group of whales, not really new.

1Referee

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Quote from: Oilacris on July 17, 2019, 03:47:37 PM

Terms of wealth distribution?This isn't similar to fiat even though there are some numbers of whales but those people cant completely move out
the market as they like.Imagine on how big the community who do support it.

Are you referring to whales not being able to cash out as they please? They surely can. The spot market has been dwarfed by the OTC market in the last couple of years. Bitcoin doesn't suffer from a lack of OTC demand, more so the lack of supply. The insane on-chain value transfers suggest how vigorous the OTC market is.

I find it increasingly interesting how people think that we'll ever reach a point at which wealth distribution is something that can/will improve. It will never happen. Smart money will always be able to multiply and be ahead of inflation and whatnot, while dumb money will continue to complain about how unfair everything is. If they spent as much time working on improving their financial situation as they did complaining, they might have actually improved. Roll Eyes

Oilacris

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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.

Well I do respect your own insight towards bitcoin and yet you do have a point that everything on this crypto sphere is uncertain.

Terms of wealth distribution?This isn't similar to fiat even though there are some numbers of whales but those people cant completely move out
the market as they like.Imagine on how big the community who do support it.

Topic: buying bitcoin is like immigrating to a new country - page 2. (Read 943 times)