Is bitcoin a good investment in this pendamic situation? - page 7.

Sithara007

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Quote from: adaseb on July 11, 2021, 11:48:08 PM

From what I am reading most people who want to invest, usually buy Bitcoin and use their savings. Then they get some hardware wallet and hold it long term.

However there are also those people who want to trade Bitcoin, usually with leverage and usually with borrowed funds. Whether it’s from a credit card, loan, line of credit. Those are usually the ones which get liquidated at first. And we saw this back in late 2017 when people were opening up Coinbase accounts and funding with their credit cards. What that led to was visa and MasterCard blocking those transactions because if the market corrected they would be on the hook if it led to people defaulting.

Hence why it’s difficult to buy crypto these days with credit cards .

I don't think that Visa/Master took action back then because of a rise in the number of defaults from cryptocurrency users. From what I heard, the unclear legal status of Bitcoin was primarily responsible for this situation. Recently payment processors such as Visa has become very selective. They have refused to provide their services to merchants in certain sectors, such as cannabis stores, porn websites, online casinos.etc. The action taken against cryptocurrency users was not a one off measure.

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Quote from: erep on July 08, 2021, 01:44:46 PM

During the pandemic, many people lacked economic income from their jobs and were even fired from the company due to the company's deteriorating financial situation, resulting in massive layoffs. The necessities of life come first and investment comes second if you can set aside finances to invest in crypto.

If you are living day to day then this is true, however for the ones that actually take the time to save the pandemic was a time of opportunities, after all you could get bitcoin very cheaply at the beginning stages of the pandemic and you could have multiplied your capital in a short amount of time, this is why saving is important, this is a habit that is being lost on the newer generations but this means that they cannot take advantage of the opportunities that appear when a crisis comes and that is a shame because that is when massive wealth transfers occur.

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Quote from: farhanabd88 on June 28, 2021, 11:39:22 AM

Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation those who wants to hold an asset that's resistant to inflation may find investing in bitcoin will be a good idea. Because Where the central banks of any country have the permission to print infinite amount of fiat currencies on the other hand the quantity of bitcoin is fixed in number and limited by its supply capped at 21 million. I think demand is more than supply is applies for bitcoin so in this pendamic situation bitcoin will be a good investment.

I have a feeling that the limited supply of Bitcoin will ultimately in the long run be a bad thing for Bitcoin. 21 million might sound like a lot but it that has to be shared by the desires of over 7.8 billion people and is badly suited to conduct regular transactions that would make it a useful trading asset. At present most of the Bitcoin in circulation is being held for speculative purposes, hoping that someone else will come along and buy it for a higher price than you paid. An effective currency needs mass adoption beyond such a limited purpose, it is nice to have a decentralized banking system but the current banking system currently allows for pretty low friction transactions already.

stomachgrowls

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Quote from: adaseb on July 11, 2021, 11:48:08 PM

From what I am reading most people who want to invest, usually buy Bitcoin and use their savings. Then they get some hardware wallet and hold it long term.

However there are also those people who want to trade Bitcoin, usually with leverage and usually with borrowed funds. Whether it’s from a credit card, loan, line of credit. Those are usually the ones which get liquidated at first. And we saw this back in late 2017 when people were opening up Coinbase accounts and funding with their credit cards. What that led to was visa and MasterCard blocking those transactions because if the market corrected they would be on the hook if it led to people defaulting.

Hence why it’s difficult to buy crypto these days with credit cards .

Come to think off that everybody doesnt own a credit card which this is basically going for people to take some loan on p2p.It isnt really bad to take a loan for investment but this is something which is way too risky
for someone to take but we know that every investment does have its own risk so its up to you on which one you would take.

If you are minding about making yourself survive on this pandemic situation through crypto investment then dont hope that much because theres no guarantee that bitcoin or other altcoin would really be having that
increase which simply means that nothing can be sure off in terms of profits.

Its someones choice and risk taking factor but of course you should think for how many times about the risk.

adaseb

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From what I am reading most people who want to invest, usually buy Bitcoin and use their savings. Then they get some hardware wallet and hold it long term.

However there are also those people who want to trade Bitcoin, usually with leverage and usually with borrowed funds. Whether it’s from a credit card, loan, line of credit. Those are usually the ones which get liquidated at first. And we saw this back in late 2017 when people were opening up Coinbase accounts and funding with their credit cards. What that led to was visa and MasterCard blocking those transactions because if the market corrected they would be on the hook if it led to people defaulting.

Hence why it’s difficult to buy crypto these days with credit cards .

Erdogan

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Quote from: farhanabd88 on June 28, 2021, 11:39:22 AM

Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation those who wants to hold an asset that's resistant to inflation may find investing in bitcoin will be a good idea. Because Where the central banks of any country have the permission to print infinite amount of fiat currencies on the other hand the quantity of bitcoin is fixed in number and limited by its supply capped at 21 million. I think demand is more than supply is applies for bitcoin so in this pendamic situation bitcoin will be a good investment.

What you wrote is absolutely true! Financial systems keep coming up with ideas to keep their system. Unfortunately, or rather fortunately, it will all be torn down .. I aheve no idea -it will be nice Cheesy

Questat

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Certainly, it is if you still have the spare money. Actually, crypto investment is not just the best or good during the pandemic but in all seasons. We can't just deny that the pandemic makes the crypto market getting strong as we are more on online transactions. in fact, we can see that the number of investors is currently growing, this means that despite the crisis that we have now, people are still seeing a huge opportunity on crypto and that you need to think of. If that they will able to see the good in here, then possibly that will also happen to you.

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Quote from: dunfida on July 11, 2021, 05:58:18 PM

Quote from: acener on July 10, 2021, 12:34:39 AM

Just the price itself is a proof that it isn't a bad investment just take a look how much it goes up during the pandemic,
I think it is enough proof that those people believe that it is a good one to invest and not just Bitcoin but also other crypto as well.
Crypto has been the main source of income by most of us during this pandemic because they lost their jobs or even businesses.

Yes,its possible but always mind off about the risk involved and dont go all in or put loaned money on it because we know that everything isnt guaranteed on crypto space.

We are on a pandemic situation on where majority cant really that afford on making out investment since we do need to save up for essentials for us to survive specially into those

who do lost up their jobs but if you do really tend to risk then its either you do make profits or lose money but of course you wont be losing anything when you dont sell anything.

It is not really advisable to risk your borrowed money into this market. Even if we say the crypto you will be investing has high chance to go up, but still the risk is high. In this market, it is smart to use your extra funds. At least when something goes sideways, you don't have to answer to anyone about the lost funds.

But if you can afford, btc for me is good for long-term investment. But if you go into short-term, maybe do the scalping strategy to earn profits. But you need to be careful, as one wrong move, and all your small profits will be wiped off.

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Quote from: acener on July 10, 2021, 12:34:39 AM

Just the price itself is a proof that it isn't a bad investment just take a look how much it goes up during the pandemic,
I think it is enough proof that those people believe that it is a good one to invest and not just Bitcoin but also other crypto as well.
Crypto has been the main source of income by most of us during this pandemic because they lost their jobs or even businesses.

Yes,its possible but always mind off about the risk involved and dont go all in or put loaned money on it because we know that everything isnt guaranteed on crypto space.

We are on a pandemic situation on where majority cant really that afford on making out investment since we do need to save up for essentials for us to survive specially into those

who do lost up their jobs but if you do really tend to risk then its either you do make profits or lose money but of course you wont be losing anything when you dont sell anything.

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Quote from: farhanabd88 on June 28, 2021, 11:39:22 AM

Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation those who wants to hold an asset that's resistant to inflation may find investing in bitcoin will be a good idea.

Bitcoin isn't immune to volatility, if the pandemic is to hit the market again as it did in March of last year, don't ever think the crypto market won't be affected. In fact it could be the most affected markets but you aren't to panic as when the market starts recovering, the cryptocurency market has the highest chance of giving better return of investment than any other market.

That been said, you can consider investing in the industry as your best choice against the pandemic but be ready to restand any short term volatility that comes. We have more of speculators in the industry than investors so when they fud comes they're usually the first to panic sell their investment and also the first to fomo back into the market.

The best you can do for yourself is not to follow this same pattern instead, while others are panic selling, you should be accumulating more Bitcoin as there's every possible this same price of the Bitcoin might not been seen in the future again as it could be your last chance of getting Bitcoin cheap.

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Quote from: acener on July 10, 2021, 12:34:39 AM

Just the price itself is a proof that it isn't a bad investment just take a look how much it goes up during the pandemic,
I think it is enough proof that those people believe that it is a good one to invest and not just Bitcoin but also other crypto as well.
Crypto has been the main source of income by most of us during this pandemic because they lost their jobs or even businesses.

I am one of the people who make Bitcoin as a source of income in a pandemic situation, because Bitcoin's performance is extraordinary compared
to other assets during the pandemic. With Bitcoin, it can provide a solution for people who are really affected by the pandemic, even I feel
my economy is getting better after getting to know Bitcoin. So I dare say that Bitcoin is the best investment in a pandemic situation.
It's never too late to invest in Bitcoin, because the price of Bitcoin will be even higher in the future.

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Just the price itself is a proof that it isn't a bad investment just take a look how much it goes up during the pandemic,
I think it is enough proof that those people believe that it is a good one to invest and not just Bitcoin but also other crypto as well.
Crypto has been the main source of income by most of us during this pandemic because they lost their jobs or even businesses.

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Quote from: DU18 on July 09, 2021, 11:59:19 AM

When the current pandemic era hits the world, of course it also has an impact on the global economy, and of course we have to be able to think about how to get money to be able to support our families, with the rules and restrictions not to leave the house from the government, some people have to lose their jobs them and trading bitcoin or altcoins in my opinion can be a solution to overcome this, because by trading in the market, we can do it anywhere including even in bed though Grin

.

the best solution so far is what you said in the second phase of the pandemic which is increasingly contagious, making us not have to do excessive activities outside the home. Of course, to be able to carry out crypto activities that we can do from trading and many others that can generate finances to meet needs that we cannot avoid, it is precisely during this pandemic that the costs are even greater.

while maintaining that we avoid transmission and we can do it anytime and only at home, of course crypto work is very helpful to be able to meet the needs that we really need without any fear we will be exposed to the pandemic and we can still do it at home and still produce too.

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Quote from: erep on July 08, 2021, 01:44:46 PM

Quote from: rhodelmabanal on July 01, 2021, 09:17:29 AM

I think bitcoin is not a great investment this pandemic, because many people needs funds right now and we all know that if we invest in bitcoin we need to hold and wait till price is become good. But there are still people that can still do investing specially to those who are financially free or rich person.

During the pandemic, many people lacked economic income from their jobs and were even fired from the company due to the company's deteriorating financial situation, resulting in massive layoffs. The necessities of life come first and investment comes second if you can set aside finances to invest in crypto.

We have witnessed a record breaking market cap also most crypto reached its ATH, in that sense I'll praise to those who make invest early. Anytime is a good time for Bitcoin investment, the phrase proved once again in this pandemic. Let's speak thyself, Still I'm feeling good to do this investment no matter what situation it now only matter Free Cash to get in.

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When the current pandemic era hits the world, of course it also has an impact on the global economy, and of course we have to be able to think about how to get money to be able to support our families, with the rules and restrictions not to leave the house from the government, some people have to lose their jobs them and trading bitcoin or altcoins in my opinion can be a solution to overcome this, because by trading in the market, we can do it anywhere including even in bed though Grin

.

milewilda

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Quote from: farhanabd88 on June 28, 2021, 11:39:22 AM

Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation those who wants to hold an asset that's resistant to inflation may find investing in bitcoin will be a good idea. Because Where the central banks of any country have the permission to print infinite amount of fiat currencies on the other hand the quantity of bitcoin is fixed in number and limited by its supply capped at 21 million. I think demand is more than supply is applies for bitcoin so in this pendamic situation bitcoin will be a good investment.

Dont think that bitcoin would save you up on this pandemic situation if you arent doing something or anything because this isnt some internet magic money that would save up your ass
if you dont do something but of course its true that bitcoin or crypto could really save yourself on this pandemic situation if you have done something and when it comes to investment
then it is really that appealing for anyone because of the returns that could possibly big but of course the risk would be on equal.So its up to someones decision if they would
make out investment then they should prepare themselves about that matter.

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Quote from: rhodelmabanal on July 01, 2021, 09:17:29 AM

I think bitcoin is not a great investment this pandemic, because many people needs funds right now and we all know that if we invest in bitcoin we need to hold and wait till price is become good. But there are still people that can still do investing specially to those who are financially free or rich person.

During the pandemic, many people lacked economic income from their jobs and were even fired from the company due to the company's deteriorating financial situation, resulting in massive layoffs. The necessities of life come first and investment comes second if you can set aside finances to invest in crypto.

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Quote from: smyslov on July 07, 2021, 09:13:24 AM

Quote from: farhanabd88 on June 28, 2021, 11:39:22 AM

I think demand is more than supply is applies for bitcoin so in this pendamic situation bitcoin will be a good investment.

It's a good investment compared to other markets, and many investors have proven that they shift their investment from mutual funds to forex to Cryptocurrency and from other offline investments to the Cryptocurrency market, those who are brave to do this, have made huge profits, it's a risky move but worth it for those who take the risk.

I do not know if it can even be said that it was a risky move, those that invested at the beginning of the pandemic after the crash that happened in March of 2020 took a very calculated risk in which they took a small risk with the possibility of gaining a fortune in the process, at that point we have gone more than 2 years without a bull run and they invested after a major crash when we were close to the halving, the situation was perfect to them and they obtained huge profits thanks to the small risk they took.

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During the pandemic, it is forbidden to do activities outside the home, invest in the best and profitable opportunities while enjoying at home. Take advantage of free time to invest especially in bitcoin which is in great demand by large investors.

Kittygalore

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DYOR before anything else because you are on your own in your investment in cryptocurrency even if a lot of people are answering your thread, this is the last thing that you should do, learn from others. The current volatility of bitcoin is going to be a problem for people that wants to invest in it and quickly make some money out of it so better if you try and test the waters first before dipping in full in bitcoin market, have a feel for the market and it's volatility.

Topic: Is bitcoin a good investment in this pendamic situation? - page 7. (Read 1693 times)