Is Bitcoin Finished?

Discussion in 'Forex - Currencies Forums' started by longtermbull, Sep 17, 2017.

  1. manoharb

    manoharb Senior Investor

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    Yes. ' Anonymous ' trading works in favor of Corrupt people. Why honest taxpayers are paying taxes to govt.? To make fraud people rich ? For easy money, Local investors are making fraud people rich. Good factors of Cryptocurrencies should be absorbed by Traditional currencies and Bad points of Cryptocurrencies must be brought under rules and regulations.

    Over all, Central Banks need improvisation. just my opinion.

    http://www.express.co.uk/news/world/860157/north-korea-bitcoin-hackers-steal-fund-kim-jong-
    un-south-korea-cryptocurrency

    I think more country's hackers will attack Bitcoin in future so Bitcoin has to bring under govt. control and Cryptocurrencies is good investment under Govt. control.

    https://www.bloomberg.com/news/arti...-25-has-bitcoin-users-rethinking-practicality

    This article says 60% Bitcoin investors have investment less than 4$ . Fees will increase more in future. I agree with this.
     
    Last edited: Sep 30, 2017
  2. gowiththeflow

    gowiththeflow Senior Investor

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    At the moment I don't understand how any retailer/service provider can receive payment in Bitcoins without undue risk. At the moment even an hours notice in converting Bitcoins into you preferred currency could result in a large loss the way the currency is fluctuating.
     
  3. fxstreet

    fxstreet Senior Investor

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    I strongly agree! Government always look for new opportunities to bring in money for themselves. By imposing some form of law or restriction on crypto currencies, companies will have to pay some money to becomes dealers. The U.S government have already limited its citizens from buying bitcoin from unknown sources.
     
  4. rakhi

    rakhi Active Member

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    Many investors say that Bit coin would be bad end in near future Bit coin is the first decentralized digital currency the genius of bit coin is that they're completely untraceable.
     
  5. Chartman

    Chartman Senior Investor

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    Consumers and investors seem to be screaming out for a digital currency which is not controlled by the authorities - at the moment Bitcoin looks like the best bet. Dont write the sector off just yet!
     
  6. Buyonthedips

    Buyonthedips Senior Investor

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    The cat is out of the bag with regards to crypto currencies and they will play some role in the worldwide investment markets well into the future. The authorities have already tried to clamp down with new regulations which have only hardened the resolve of those who support crypto currencies.
     
  7. manoharb

    manoharb Senior Investor

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    Sometimes, I think, Bitcoin is 1 improvised Propaganda of ' Tulip Mania' which ended in bad way in 17th. Century. In fact, During Tulip Mania, Flowers of Tulips were real but Bitcoin is Virtual.
    https://en.wikipedia.org/wiki/Tulip_mania

    Tulip challenged Gold, crashed.
    Scientist who build unbreakable glass Thousands years ago, murdered by Emperor Nero due to fear of crash in Gold.

    Such many examples we know from History so what should be fate of 'Bitcoin' ?

    I am not against Science or Technology but my point is , Do Science and Technology is dependent on monopoly of just 1 Cryptocurrency 'Bitcoin' ? I don't think so. So Why should I pay 10000$ for 1 Bitcoin ? Only because Demand is more than Supply ? Bitcoin will survive if there is no monopoly. If Monopoly continued then 1 day it will harm whole Cryptocurrency market like Tulip Mania.

    Gold is Real.
    Crude is Real.
    Real Estate is Constitutionally accepted by Global system.
    Electricity which is future, Technology needs for it, is also real, But this Technology also needs Natural Resources.

    So why should I go for Virtual Currency ? when there are better investment options available ?

    Virtual Currency makes no sense to me.
     
  8. DanielH

    DanielH Active Member

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    If we look at the fundamentals, the last 24 hours have seen one very encouraging piece of news. Yesterday, on the 15th of March, Lightning Labs launched a beta version of the Lightning Network; developed for the main Bitcoin network.

    This is, of course,learn currency trading, we have excellent news for Bitcoin. It shows us that developers are looking at every possible solution to Bitcoin’s scaling problem.

    Nevertheless, I still think that even if the Lightning Network turns out to be a viable solution to the scaling issue, it will need time to prove its worth; specifically, that it can handle bitcoin transactions without any problems. Because of this, I don’t think that bitcoin’s price will immediately go up whenever a solution to the scaling problem appears.

    Taking all the above into consideration, I’m going to stick to my position that if you’re thinking of buying bitcoin now, you should only do so if you plan to HODL for a very long time (at least 2-3 years) and you won’t start panicking if the current price undergoes a correction of 30-50%. If a correction does happen, I think the optimum price at which to buy bitcoin is somewhere within the range 5,000 – 7,500 USD.
    See more in https://alpari.com/en/analytics/currency/converter/CAD-BTC/
     
    Last edited: Mar 19, 2018
  9. Chartman

    Chartman Senior Investor

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    I think the political challenges to bitcoin are far stronger than the positive impact new trading platforms may create. Governments around the world seem determined to control and tax bitcoin (and other cryptocurrencies) which in many ways undermines the reason they have become so popular.
     
  10. fxstreet

    fxstreet Senior Investor

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    What do you guys think about bitcoin now? There is prediction that it will rise in 2019.
    That is the same perception in 2018, and look where we are now. There are many other factors at play here. I have lost faith in bitcoin rising since the middle of this year. Now I just sit back and profit from its galloping here and there. Instead of stocking coins now, I trade cryptocurrency CFDs for profit. It's the list I can do right now since ripple failed me.
     
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