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The thread is four years old and I don't know who bumped it (even I do not want to know). LOL. I would love to answer the question. It exclusively depends on the place you live in. You could be from the US, or you could be from El Salvador, or a third-world country like Bangladesh where Bitcoin and all other crypto's are banned.And thank God that this issue has already been closed and we are not worried about the legality of our activities and our income. But the question of taxation will remain, because governments really want to get a piece of this pie.
It's already a legal tender in El Salvador and you could say in the US too. Very recently, the US approved Bitcoin ETF and now it's trading there as well.
I think that you should pay attention to the fact that the government is withdrawing fiat currencies from circulation in almost every country. People are accustomed to non-cash payments and in this case banks always take a commission not only when paying for goods, but also when transferring any account funds to an account, based on this there will be no difference in payment. But the security and independence its that cryptocurrency provides is phenomenal.My question:
1. If Bitcoin requires proper knowledge and personal research, does it limit those who are uneducated, IT illiterate, and ignorant?.
2. Would this limit it's mass adoption?.
Note: Even the ignorant ones among us use banking services/fiat currency.
People eventually learn how to do it. But, if they are uneducated and do not understand anything, that could be a problem. But, not only this will limit mass adoption, but there is one more thing that is limiting mass adoption at this moment and that is the transaction fees. People do not want to pay fees for their transactions. If you pay a $20 bill in fiat, you almost pay nothing as a fee. But, when you pay it through Bitcoin, you have to spend a dollar or probably more depending on the mempool condition.
In some situations, people invest not only in cryptocurrency but also in real business. This is a kind of guarantee and stability for the future. in this case, it will not be possible to avoid using a bank account. But nevertheless, you can use a bank account for everyday life and replenish it exactly as much as you need for a certain period.It's a good experience, same like what I did ever win the trading and gained profit. I will reinvesting in 50% and withdraw 50 % to fulfil my needs. Because trading is another income, I always do training and investing. When the market is good, so busy I will do trading.Need to make balance financial condition although investing in cryptocurrency has promising with profitable we need has money in our bank account to protect if get emergency. Beside need saving fund we must prepare with our needed until one years later if market crash and we must be long term holding.
Don't all in your profitable in trading to reinvesting, need to use or withdrawing more than 50% profitable as saving fund and become our daily needed in the future. Have to fill our bank or saving fund more than one or two years money needed before allocating to investment fund.
The biggest problem is that it gives an illusion. When you watch enough videos or read different stories about how people got rich, you start to think that you can do it too.And when you lose your first money, you think it’s an accident, you’re just unlucky. And this is where the main mistake happens, instead of thinking, you start investing again in the hope of getting back what you lost. If you’re a gambler, it’s better not to do this, otherwise you’ll be in trouble.I think that there is no need to build golden castles in your dreams, engaged in crypto trading. We all really understand the complexities and pitfalls of cryptocurrencies, but at the same time, each of us understands the superiority of using Cryptocurrencies as opposed to fiat funds.
Yes the coming Bull run will be more stronger than ever and all those who have holded their bitcoin and are still buying more will be profitable as they have taken their position early and wisely. Everyone has different opinions and different assumptions but what will be the real all the time high worth is unknown yet.I think that the most difficult thing will be to predict what price Bitcoin will reach at its peak, last time Bitcoin the price increased 3 times in the year of the previous halving, but later the before this halving, the price increased fivefold. If you follow this trend, the price on average should double. That is, it will probably reach 120 K.
If bitcoin price reached to 100k$ then probably other altcoins will also altered in their price to reach the highest price. This time is not for making prediction but this time is accurate for accumulating the necessary assets if you wants to get benefit from coming Bull season.
Actually trading and gambling are not the same or anywhere compared to one another, trading is all depends on the experience you have on a particular subject matter and amount of Capital you have to put in though also have his own risk because the more you invest in, the more the risk it carries but that should not stop you from trading just have little knowledge and keep on, because you either loss or you win , while Gambling is more risky and at the same time you earn more, why because gambling is a game of insight thinking where by you don't really know the outcome of the result but your guessing can make you successful in it or even fail and run down to zero unlike Trading that the lost don't come in a time.You should not vehemently deny the understanding of trading as a game in the broad sense. After all, both tactics and strategy are inherent not only in professional stock trading, but also in cryptocurrency trading. And studying game theory helps both pump up the brain as a whole and improve the understanding of trading strategies. 😉
Having good psychology in trading is not as easy as the theory says. It wasn't built in just 1 night, but it takes a long time to be able to build a good psychology in trading. It requires effort, time and energy which is no joke, which can shape a trader to have good psychology. And that self-confidence and external pressure will also affect the trader's psychology in a short time, and that is why many professional traders prefer to trade in a quiet place and away from crowds of people who can disturb their thoughts.Emotions do not always lead to losses. Sometimes they help to increase profits, but then this is usually associated with unjustified risks, which is not a sign of professionalism.
Grayscale Bitcoin Trust sure is one of the largest holders of Bitcoin and liquidating such shares could have a very significant impact on the price of Bitcoin because it's gonna cause a panic sell off which will result to driving down the price even lower. Trust me, this is really going to shake the price of Bitcoin because it'll instill panic in a lot of investors and possibly make them question their confidence in Bitcoin.Genesis' approval to sell its shares in Grayscale's various trusts represents a significant step in its efforts to pay creditors and navigate bankruptcy proceedings. This is just a problem of one computer, even if it has a huge influence on the Bitcoin market. But this is not a Bitcoin problem. We constantly see the ups and downs of large companies and monitor market fluctuations because of this, but as always, such situations are temporary and do not pose a threat on a global scale.
But on second thought, this one slice of the pizza, and we can't really tell what level of impact this might cause to the price of Bitcoin so let's just watch.
In my opinion, the main task is also to sell your assets profitably, and this moment can be unexpectedly missed. How to find out what the highest price for Bitcoin will be. although if you take into account the cost of purchase, then the profit will definitely be.I bought Bitcoin when its price was 25,000. The income was already more than 100%. I hope that the price will continue to rise and I will make even greater profits. Bitcoin is a long-term investment for me.
You have bought bitcoin on right time and now you can easily take profit from it but if you wait for some more months then your profit will be more than this so I will suggest that keep holding your bitcoin because halving is near.
I think that bitcoin should not be buy for short term because we have previous history about Bitcoin's success so we will not see huge dump for longer but so I think if you sell your bitcoin during or after halving then you can change your life very easily by altering your economy.
You have now profit double of your invested amount because you invest at 25k$ and now the price is 52k$ and surely it will go more higher in near future due to specific events.
It is better to invest part of your funds in cryptocurrency. I think it’s better to invest money in several cryptocurrencies to diversify risks. But it’s better to choose from the top cryptocurrencies. The crypto market is currently growing and I hope that this growth will continue for a long time.I think that you said everything correctly and at the same time I need to add that the current period is one of the best for investing in cryptocurrency. Right now is the time when the market will rise and we need to use this chance before the bull run.
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