Profit or No profit? - page 4. | Bitcointalksearch.org

pawanjain

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

Hey guys,

In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

Yes you would have to sell your Bitcoins for fiat when the price of BTC gets high. You can also hold it for more profit but if you want to take the profits out then selling it for fiat or any currency is the only way.
The purpose of Bitcoin itself was to be used for peer to peer transactions. So the price has to be the current market price for every thing you want to buy. You can make profit while purchasing things since then it will act as a mode of payment. If you want to take the profits out then you must be trading BTC. There are differences in these things which you should understand.

BlackPanda

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

Hey guys,

In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

I think you should have confidence that Bitcoin can be profitable, you can sell Bitcoin when it suits your condition. besides that when you already have the advantage then I suggest to immediately take action. Do not wait too long because it can hold you back. Bitcoin is very different compared to other investments, Bitcoin offers a much bigger and more profitable thing.

Troysen

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

Hey guys,

In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

The day you decided to get involved in this platform, i think you did the research that BTC is not an investing company. It is a decentralized cryptocurrency which were just used to invest and make transactions quicker than the fiat because it is digital.

VitKoyn

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

Hey guys,
In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

Of course you will have to cash out your Bitcoin to be able to get the profit, if not your money is still in danger when the price drops but also possible to gain more when the price increases. If you buy an items using Bitcoin, for example you will buy a shirt worth $25, you will pay that amount Bitcoin in the current price in the market. How can you profit from using Bitcoin to pay for goods? lol. I think you are missing the point, to be able to make profit you must invest money on Bitcoin and wait for the price to increase then cash it out. Bitcoin is supposed to be a currency to buy things online but now people are taking advantage of its volatility to make profit.

mk4

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Quote from: jseverson on December 18, 2017, 02:31:08 AM

Quote from: mk4 on December 17, 2017, 09:55:36 PM

"whats the point of bitcoin if i am not profitting?" Maybe because bitcoin didn't exist to make you profit?? Bitcoin is invented to replace fiat, or at least to go together with fiat depending what your views are. BITCOIN IS NOT A MONEYMAKING SCHEME.

You are absolutely correct. Let's be honest here, however. We all know Bitcoin is only as popular as it is because it's being used for profit. It doesn't even have a shot in replacing fiat as things currently stand.

I'm very optimistic about where Bitcoin can go in the future, both in value and utility, but it can't be denied that at the moment, what it does best is storing and multiplying your money. Granted, it's not a moneymaking scheme per se, but it can be used to make money all the same. It sucks, yes, but it's the truth.

"We all know Bitcoin is only as popular as it is because it's being used for profit". I agree, not entirely, but I'm pretty sure majority of the people are only in it for the money; I mean, even grandparents are getting in on bitcoin for the profits. Though I think it has a shot in replacing fiat, but the chances are quite low. Though I can see bitcoin surviving as a payment method along with fiat.

icanscript

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The crypto currency financial system is only being created. It is not even ten years old, in contrast to the system of fiat money. I am sure that 2018 will become a stone on the grave of fiat money. Many issues are not legally regulated.
The important thing is how your country's tax service will answer your question.

jseverson

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Quote from: mk4 on December 17, 2017, 09:55:36 PM

"whats the point of bitcoin if i am not profitting?" Maybe because bitcoin didn't exist to make you profit?? Bitcoin is invented to replace fiat, or at least to go together with fiat depending what your views are. BITCOIN IS NOT A MONEYMAKING SCHEME.

You are absolutely correct. Let's be honest here, however. We all know Bitcoin is only as popular as it is because it's being used for profit. It doesn't even have a shot in replacing fiat as things currently stand.

I'm very optimistic about where Bitcoin can go in the future, both in value and utility, but it can't be denied that at the moment, what it does best is storing and multiplying your money. Granted, it's not a moneymaking scheme per se, but it can be used to make money all the same. It sucks, yes, but it's the truth.

pooya87

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

If its at the current market rate, then whats the point of bitcoin if i am not profitting?

two things:

1. you are using a decentralized currency unless that means nothing to you, then why have you even bought bitcoin in first place?

2. imagine you bought $25 worth of bitcoin 1 months ago at $5000, that is 0.005BTC and now you want to buy that shirt for $25. and with current price which is $19000 you have to pay ~0.001316BTC (ignoring all the fees and assuming you can buy $25 worth of bitcoin!)
do you see the profit or not?

Shreek

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Quote from: shinjunobi09 on December 17, 2017, 10:15:18 PM

Typically in order to see if you really want to see if you benifited or earned a lot of money in bitcoin is to sell high when you bought it a low specific price. And in order for you to feel or realized you have really earn on your investments you have to cash it out to check what returns you gain, because remember bitcoin price is not stable it changes from time to time.

yes, I agree with you, that the price of bitcoin traffic always shows fluctuations quickly. and I used to do, if I already benefit from the purchase, then I will immediately sell it.

Dexion

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yes, surely how will you benefit if you do not sell it at a high price? will you hold for a long time? i guess you will not be able to.
you must have good calculations and observations, otherwise you will incur losses. At least you have a slight advantage of the altcoin you buy.

shinjunobi09

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Typically in order to see if you really want to see if you benifited or earned a lot of money in bitcoin is to sell high when you bought it a low specific price. And in order for you to feel or realized you have really earn on your investments you have to cash it out to check what returns you gain, because remember bitcoin price is not stable it changes from time to time.

tomahawk9

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Quote from: sann111 on December 17, 2017, 09:48:35 PM

In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.

Obviously, you have to cash out, otherwise, you'll end up being a holder.

Quote from: sann111 on December 17, 2017, 09:48:35 PM

When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or

If the store accepts Bitcoin but the price is in fiat , then it means they will only take in account the amount in fiat currency, not how much $25 is worth in btc. But just to be sure, it's better if you contact customer support.

Quote from: sann111 on December 17, 2017, 09:48:35 PM

how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

Not sure what you meant here but, the point of Bitcoin isn't to make you gain profits.

Quote from: sann111 on December 17, 2017, 10:02:36 PM

If coin replaces dollar, then what will coin base its rate on? Right now we can convert dollar to coin and know what that dollar is worth.

This will never happen so need to worry about that.

sann111

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If coin replaces dollar, then what will coin base its rate on? Right now we can convert dollar to coin and know what that dollar is worth.

scout5

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sigh. Typical people who only looks at bitcoin as an investment and nothing else. Honestly? I think we are in a bubble after all. So much ignorant money.

mk4

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Of course. You don't make profit(in fiat) in trading if you don't cash out.

You got it mixed up. If you bought bitcoin at a lower price, and try to buy an item for the current price(higher) with the bitcoin you bought, then of course you bought that shirt for less bitcoin than the past price. Hence, saving significant amounts of money, depending on how low you bought your BTC and what the current price is.

"whats the point of bitcoin if i am not profitting?" Maybe because bitcoin didn't exist to make you profit?? Bitcoin is invented to replace fiat, or at least to go together with fiat depending what your views are. BITCOIN IS NOT A MONEYMAKING SCHEME.

sann111

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Activity: 196

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Hey guys,

In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?

Topic: Profit or No profit? - page 4. (Read 639 times)