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originally posted by: Serdgiam
a reply to: the owlbear
Honestly, even if your co-worker does everything right, he still might end up in that van. Then again, I suppose the same could be said for any of us..
If he just has one currency, a software wallet can work well. If he has more than one, a hardware wallet like the Ledger Nano S is the way to go. Really, a hardware wallet is probably the way to go regardless, but its extra cost.
Keeping your investments in an exchange is a little bit like having a bookie store all your winnings indefinitely. Not the best analogy, but in both cases, they just aren't "best practices."
My personal hope is that my own small investments can help fund my business which will ideally change the world in a substantial way. I have no other options, since my health precludes hard time frames (which most normal investors request). This subject provides a singular and unique opportunity for folks in my position, if it grows.
Many would do well to remember that a market that can grow immensely in short time frames can also shrink the same way. As long as the overall trend is upwards, its a viable investment.
I don't think we will see its true potential until something comes out that makes it all more intuitive, fast, and simple for the average person.
originally posted by: Serdgiam
As for the market, I'd say this change was completely expected. Its strange to me how many are frothing at the mouth to see cryptocurrencies and blockchains fail. C'est la vie...
originally posted by: Archivalist
The term crash is relative here.
Bitcoin is up for the year. It could fall to $5,000 and still be up for 2017.
A correction happening right now, is soooooo much healthier than a runaway gain, I'm glad.
My algorithm for price prediction just had BTC at $8,000 for December 2017.
I am more than satisfied with the reality of the current market.
My algorithm places a run up to between $25,000 and $30,000 as a likely occurrence by May 2018.
If I were here to spread financial advice though, I would probably advise people to purchase MIOTA that cryptocurrency has a gain potential of 10x value over the next 24 months. Currently sells for between $3 - $4. No doubt in my mind, it will see $20-30 each by 2020.
((MIOTA is a crypto developed for IOT devices and machine to machine micro transactions. Microsoft has an interest in this crypto (involved in it's creation, as well as 20 other global reach corporations), and it just launched in summer 2017. It has a market cap of $10bil right now, but is obviously worth a $100bil market cap.
It is intended for micro transactions ranging from streaming fees, to smart power grids, smart parking fees, smart laundromats, etc... Anywhere, where machine to machine transactions occur, and it would be beneficial to remove the human interaction from the device to device services.))
originally posted by: proximo
originally posted by: Vroomfondel
Bitcoin, or any crypto-currency, is not unlike any other fiat currency in that its value is based on demand. If no one wants it - it has no value. Bitcoin will be in demand at least until there is a better alternative in digital currency. More big money is starting to accept bitcoin and the market devoted specifically to bitcoin is growing. You can now buy a Lamborghini from a giant vending machine using bitcoin. I know that is not the best example of the validity of the currency, but it does demonstrate that various entities are investing in its future.
I see this correction as a buy opportunity and I am watching the prices and waiting...
There are dozens of other crypto currencies that are better than bitcoin. IT SUCKS. Hours to complete a transaction, high fees, and only the ability to do 16 transactions a second.
It is a joke in terms of a workable currency. It is great that it was the first and introduced the blockchain, but it's time has passed, many other currencies are far superior. It should not be the most popular any longer.
I too see it as a buying opportunity, but not for bitcoin. I am never going to buy it again, it's time is over, and the market is starting to realize it, just look how much it's market dominance has dropped the last month.
originally posted by: Vroomfondel
originally posted by: proximo
originally posted by: Vroomfondel
Bitcoin, or any crypto-currency, is not unlike any other fiat currency in that its value is based on demand. If no one wants it - it has no value. Bitcoin will be in demand at least until there is a better alternative in digital currency. More big money is starting to accept bitcoin and the market devoted specifically to bitcoin is growing. You can now buy a Lamborghini from a giant vending machine using bitcoin. I know that is not the best example of the validity of the currency, but it does demonstrate that various entities are investing in its future.
I see this correction as a buy opportunity and I am watching the prices and waiting...
There are dozens of other crypto currencies that are better than bitcoin. IT SUCKS. Hours to complete a transaction, high fees, and only the ability to do 16 transactions a second.
It is a joke in terms of a workable currency. It is great that it was the first and introduced the blockchain, but it's time has passed, many other currencies are far superior. It should not be the most popular any longer.
I too see it as a buying opportunity, but not for bitcoin. I am never going to buy it again, it's time is over, and the market is starting to realize it, just look how much it's market dominance has dropped the last month.
Bitcoin is going to be the big kid on the block for a while. Of course there are others that are worth buying, and i probably own most of the ones you are talking about. And I have my eye on a few fractional cent coins that may show some promise long term. I don't think bitcoin is going away any time soon so big drop in price, especially after so many noobs bought in because of the recent news, is nothing to worry about. Its much like the 1920's. A whole lot of people with little experience in investing bought in because they keep hearing about the profits other people are making. Most of them don't have the stomach for it and panic the first time they see their balance drop. There is a lot of knee-jerk selling going on. Just look at the numbers. It dipped to the $10k range and is already back to $14.5k. 40% in one afternoon is ok with me.
originally posted by: proximo
Amazon could never promote Bitcoin, or or even Etherium because they are just to slow to have practical use for transactions. But Amazon has a big motivation to want to use a crypto for payments - because A. No more paying a 2.5% credit card fee on purchases and that would be a huge improvement to Amazon's margins, B. Less issues with currency translation, C. They get to hold a large amount of crypto which is likely to increase in value faster than fiat currency.
originally posted by: IgnoranceIsntBlisss
It needed to start going down. It should mean it needs to crash the whole system to do it....
Compare that to the transaction fees for bitcoin, which has hit an average of $50 USD per transaction as of today Friday 22nd December 2017 !
originally posted by: AMPTAH
Once upon a time bitcoin was unique.
It was the sparkling new kid on the block.
In order to get gold, you've got to mine that gold out of the ground. It takes a big capital investment in mining equipment and personell to get started, to produce some more gold.
So, getting into the gold business has a hurdle, an initial barrier to overcome.
originally posted by: AugustusMasonicus
originally posted by: purplemer
Dont worry its climbing again now.
Kinda of proves the point. Volatility.