Final Consensus on Bitcoin

[$ignificant$un]

Can we get a final consensus on Bitcoin? Now that it has approached its greatest value since existence, so many outsiders are talking in my ear about it.

For the last couple of years, I have acted purely on instinct regarding bitcoin. It seams to me to be another pump and dump, ponzi scheme that has been artificially inflated. It also appears just to be an experiment or simulation for Blockchain technology, the actually matter of significance as far as global banking crypto is concerned.

Is it even possible for bitcoin to ever be legitimate considering major corporations and the central banks can just create and release their own cryptocurrency once they hyper inflate the dollar into oblivion and destroy it (appears this is ultimately what will happen). If this happens, you still wouldn't be able to buy anything with bitcoin. I fail to understand just when and how it could ever be a transacting reality.

Lastly, are investors even interested in trading large amounts of bitcoin. Is it even possible to cash it out, especially in large quantities.

Let me know if there are important factors I am missing entirely. I have never bought any so I am not knowledgeable. Like I said, pure instinct at this point.

 

[SouthernWhiteGentile]

Final consensus: When the plug is pulled your digital shekels are junk. Invest in real things that can be bartered or used to feed/kill someone. The stock market is a corpse being kept alive by central banks dumping money into it. The house always wins.

 

[winragefilled666]

The recent price rise seems to have been triggered mostly by large investors buying big amounts of Bitcoin as part of long-term investment plans. Talking hundreds of Millions of $ there. Even PayPal chose to support it recently to some extent.

The potential for adoptation as normal currency is also there with the lightning network.

I think there is potential for Bitcoin to survive the fall of dollar and other standard currencies but only if it is adopted enough at that point. Currently the market cap is still not even half the worth of let's say Apple. But even if it fails, I do not think there is any alternative with remotely as much potential.

 

[NinRick]

I am considering buying BitCoins, but not that many.

Maybe in 8months when they are cheaper again.

But I will not sell them, I will keep them. I just want to keep them, for the very unlikely case that I need them someday to buy something.

 

[Shael]

Bitcoin is created and "owned" by people allied to the enemy. If you know enough about investing, you can make big profits with cryptocurrency trading, however there is a lot of risk involved as your money can quickly lose most of its value. The current cryptocurrencies will not ever be used for any truly large-scale application in the real world. Their value may rise for a while, which is what you can make money off of, but in the end they will all drop to 5% or less of their initial value. Do not buy cryptocurrencies right now as Bitcoin will almost certainly fall significantly in the coming months. And do not trust Bitcoin to increase in value forever, as it will eventually have its first true fall (under 1000$ value) and will likely be dead after.

Crypto technology has a lot of potential to be used later, but this will require far more advanced systems to be created first. What exists now is equivalent to the first PC that could only do some simple calculations and had a complicated and unintuitive interface.

 

[Hp. Hoodedcobra666]

Bitcoin is definitely not bad. I will explain more indepth about this topic and digital economy.

However like anything else it has upside and downside to it, pros and cons.

 

[Stormblood]

Rather than investing, I'd advice trading bitcoin. No long-term trades. If someone is proficient at studying the financial markets, they can identify great opportunities for profit. This ensures profits earlier, rather than later, and they are calculate in a much different manner than investment profits. They yield much higher gains. You can take advantage of the growth period and also of the downtrends when they start happening, because trading allows you to trade both uptrends and downtrends.

As I warned in the other topic, one should learn about risk management first and use a demo account for practice for a long time until they have found a trading strategy that suits them and they have mastered it. Trading is a very risky but proper application of risk management ensures you are always profiting more than you lose. Do not trust anyone that tells you their win rate is above 50-60%. That's sci-fi. What risk management does is make sure that your profits minus your losses equal in overall gains. Do not trust anyone that tells you they will give you back $1050 in 42 hours if you give them $100 or whatever other claim. Those are the scammers.

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Bitcoin is definitely not bad. I will explain more indepth about this topic and digital economy.

However like anything else it has upside and downside to it, pros and cons.

I'd love to read a sermon from you about this.

 

[Crippler]

The upcoming crash in Bitcoin is going to be absurd. What goes straight up will come crashing down. If anyone has any you should consider selling it all and don't look back.