Kakashi2020 Posted July 29, 2018 Share Posted July 29, 2018 Among the cryptocurrencies, is Bitcoin the most profitable or are there other not so known cryptocurrencies which are more volatile? Quote Link to comment Share on other sites More sharing options...
fishbate Posted July 29, 2018 Share Posted July 29, 2018 In terms of demand and flexibility i think bitcoin has the upper hand. Also there's lots of platforms nowadays that uses bitcoin, that's why i think its value and popularity comes along in terms of crypto. 1 Quote Link to comment Share on other sites More sharing options...
Marako0406 Posted July 30, 2018 Share Posted July 30, 2018 Yes I agree. Bitcoin is still the most valued cryptocurrency but mining it on the other hand is not profitable in terms of the cost of electricity to power the computer system unless a person owns a powerful mining rig. Quote Link to comment Share on other sites More sharing options...
Martinsx Posted October 23, 2018 Share Posted October 23, 2018 On 7/29/2018 at 12:26 PM, Kakashi2020 said: Among the cryptocurrencies, is Bitcoin the most profitable or are there other not so known cryptocurrencies which are more volatile? For the record, Bitcoin is the most popular and valuable cryptocurrency in the world today with its price for 1 Bitcoin at $6,469 and still rising. It may be the most profitable for those who have the financial power to invest heavily in it. Quote Link to comment Share on other sites More sharing options...
Steve5 Posted October 23, 2018 Share Posted October 23, 2018 I believe it is. Despite its unusual fluctuations, its has proven to be the most lucrative of the bunch. It's still widely used today even by newcomers to digital currency. I see it growing in price as the years go by. Though, I probably won't be part of those who saved their bitcoins for the future. 😃 Quote Link to comment Share on other sites More sharing options...
focusedwriter10 Posted November 3, 2018 Share Posted November 3, 2018 Irrespective of the market trends, Bitcoin is the most profitable cryptocurrency. Actually, it is more popular than other cryptocurrencies. Quote Link to comment Share on other sites More sharing options...
menchuuy58 Posted November 3, 2018 Share Posted November 3, 2018 On 7/29/2018 at 7:26 PM, Kakashi2020 said: Among the cryptocurrencies, is Bitcoin the most profitable or are there other not so known cryptocurrencies which are more volatile? i choose bitcoin as the most profitable. This is more famous than the cryptocurrencies in the whole world. I am very thank to know about cryptocurrencies. Quote Link to comment Share on other sites More sharing options...
Martinsx Posted November 3, 2018 Share Posted November 3, 2018 8 hours ago, focusedwriter10 said: Irrespective of the market trends, Bitcoin is the most profitable cryptocurrency. Actually, it is more popular than other cryptocurrencies. I completely agree with you on this. There are so many cryptocurrencies in the world today but ever since 2009 when Bitcoin was launched, it's still the world's biggest cryptocurrency. Quote Link to comment Share on other sites More sharing options...
Onizuka Posted November 5, 2018 Share Posted November 5, 2018 Bitcoin is more secure and stable, but in terms of making profit from trading coins, altcoins are better. Bitcoin's rise has made it less susceptible to price manipulation; altcoins on the other hand are relatively cheap and still easy to manipulate, hence the proliferation of pump and dump schemes in exchanges. Here's a hypothetical scenario: In a given cryptocurrency exchange, it would take $645k to clear out just 100 btc at the current level, and there's still the next few fluctuations after that. As a result, it's hard to create a surge in demand by gobbling up the supply. Not for altcoins though. $Nano for example, is only trading at $1.93 and at a much lower volume than btc. Even with only a few thousand dollars, a person could push it a few % higher and the market would follow, which sometimes results in a massive price run. The above scenarios are for whales, or those who have massive amounts of money to trade. So, how do small pocketed traders profit from that? Simple, We ride the price runs if we are able to. Using data from coinmarketcap.com, anyone can see that in 1/1/2017, btc was priced at $963. At 12/31/2017 it was at $13,170 which translates to a 1367% profit. Ripple and Verge, during 1/1/2017, were at $0.006 and $0.00004 respectively. They ended 2017 at $2.12 and $0.18. I'm gonna let you do the math on how much more that is in % profit compared to btc's x13.7. The other side of the coin is that btc is more stable. BTC is only down about 66% while those altcoins are down by much higher values for the 2018 data. Check coinmarketcap for the exact figures if you want to crosscheck what I'm saying. Basically, in terms of trading profit, altcoins are more lucrative, but you'd be open to larger risks. Quote Link to comment Share on other sites More sharing options...
focusedwriter10 Posted November 5, 2018 Share Posted November 5, 2018 On 11/3/2018 at 11:23 PM, Martinsx said: I completely agree with you on this. There are so many cryptocurrencies in the world today but ever since 2009 when Bitcoin was launched, it's still the world's biggest cryptocurrency. Do you think Bitcoin will withstand the market trends? Is there any other cryptocurrency that is close to Bitcoin? Maybe, maybe not. Quote Link to comment Share on other sites More sharing options...
menchuuy58 Posted November 6, 2018 Share Posted November 6, 2018 21 hours ago, Onizuka said: Bitcoin is more secure and stable, but in terms of making profit from trading coins, altcoins are better. Bitcoin's rise has made it less susceptible to price manipulation; altcoins on the other hand are relatively cheap and still easy to manipulate, hence the proliferation of pump and dump schemes in exchanges. Here's a hypothetical scenario: In a given cryptocurrency exchange, it would take $645k to clear out just 100 btc at the current level, and there's still the next few fluctuations after that. As a result, it's hard to create a surge in demand by gobbling up the supply. Not for altcoins though. $Nano for example, is only trading at $1.93 and at a much lower volume than btc. Even with only a few thousand dollars, a person could push it a few % higher and the market would follow, which sometimes results in a massive price run. The above scenarios are for whales, or those who have massive amounts of money to trade. So, how do small pocketed traders profit from that? Simple, We ride the price runs if we are able to. Using data from coinmarketcap.com, anyone can see that in 1/1/2017, btc was priced at $963. At 12/31/2017 it was at $13,170 which translates to a 1367% profit. Ripple and Verge, during 1/1/2017, were at $0.006 and $0.00004 respectively. They ended 2017 at $2.12 and $0.18. I'm gonna let you do the math on how much more that is in % profit compared to btc's x13.7. The other side of the coin is that btc is more stable. BTC is only down about 66% while those altcoins are down by much higher values for the 2018 data. Check coinmarketcap for the exact figures if you want to crosscheck what I'm saying. Basically, in terms of trading profit, altcoins are more lucrative, but you'd be open to larger risks. I agree with you. Thanks for all the information. This will serve as my guide. Quote Link to comment Share on other sites More sharing options...
Martinsx Posted November 6, 2018 Share Posted November 6, 2018 14 hours ago, focusedwriter10 said: Do you think Bitcoin will withstand the market trends? Is there any other cryptocurrency that is close to Bitcoin? Maybe, maybe not. With all the challenges which Bitcoin have dealt with so far, I'm absolutely certain and convinced it's definitely going withstand any market ups and down it may still witness. At the moment, there is no cryptocurrency closer to what Bitcoin offers. Quote Link to comment Share on other sites More sharing options...
focusedwriter10 Posted November 6, 2018 Share Posted November 6, 2018 I agree that there is no cryptocurrency closer to Bitcoin, but let's wait and see what the future holds. Quote Link to comment Share on other sites More sharing options...
Steve5 Posted November 7, 2018 Share Posted November 7, 2018 On 7/29/2018 at 11:16 PM, fishbate said: In terms of demand and flexibility i think bitcoin has the upper hand. Also there's lots of platforms nowadays that uses bitcoin, that's why i think its value and popularity comes along in terms of crypto. That's true. In fact, bitcoin has become so well known that banks offer exchange services. Even financial institutions recognize its prominence as a cryptocurrency. I'm sure they're making a lot of money through their processing fees. 😃 Quote Link to comment Share on other sites More sharing options...
Martinsx Posted November 8, 2018 Share Posted November 8, 2018 On 11/7/2018 at 5:26 AM, Steve5 said: That's true. In fact, bitcoin has become so well known that banks offer exchange services. Even financial institutions recognize its prominence as a cryptocurrency. I'm sure they're making a lot of money through their processing fees. 😃 There has been a lot of business transactions carried out and completed with the use of Bitcoin. It's in fact the most accepted cryptocurrency in the world today. If you have Bitcoin, it can be sold easily. 1 Quote Link to comment Share on other sites More sharing options...
JPK0007 Posted November 24, 2018 Share Posted November 24, 2018 Well, Bitcoin is certainly one of the most poular cryptocurrency available in the market. People who have invested heavily in bitcoins in the past have made huge profits on there investments. Bitcoin is one of the most reliable cryptocurrencies and does have a proven track record. However even Bitcoin transactions are still considered illegal in some countries, but i am sure this will change in the near future due to the ever increasing popularity of Bitcoins all over the World. Quote Link to comment Share on other sites More sharing options...
Bravosi Posted November 25, 2018 Share Posted November 25, 2018 Personally for me, Bitcoin is the most famous cryptocurrency out there. I'm not sure if the term is applicable, but Bitcoin is the most stable and trustworthy cryptocurrency out there. At least the way I see it. I'm familiar with other cryptocurrency, but they just don't seem to be "famous enough". Quote Link to comment Share on other sites More sharing options...
Steve5 Posted November 26, 2018 Share Posted November 26, 2018 On 11/8/2018 at 5:09 PM, Martinsx said: There has been a lot of business transactions carried out and completed with the use of Bitcoin. It's in fact the most accepted cryptocurrency in the world today. If you have Bitcoin, it can be sold easily. I like that fact as well. It's like a new form of business. Even regular people are joining in on the trend. Lots of us are intrigued to make money off of trading bitcoin when its value increases. 😁 Quote Link to comment Share on other sites More sharing options...
cks003 Posted November 26, 2018 Share Posted November 26, 2018 Among all the virtual coins, Bitcoin is the most profitable if one successfully dislodged it when its price was at its peak in Dec 2017. But there are two sides of a coin, when there are winners there are also losers. It is a zero sum game. If one had purchased the Bitcoin when the price was $20,000, one is suffering a huge loss now. Quote Link to comment Share on other sites More sharing options...
Bravosi Posted November 26, 2018 Share Posted November 26, 2018 6 hours ago, cks003 said: Among all the virtual coins, Bitcoin is the most profitable if one successfully dislodged it when its price was at its peak in Dec 2017. But there are two sides of a coin, when there are winners there are also losers. It is a zero sum game. If one had purchased the Bitcoin when the price was $20,000, one is suffering a huge loss now. I believe Bitcoin was the first cryptocurrency out there, so I'm sure it's the most trustworthy. Imagine how rich the person is who bought the Bitcoin at the initial start of it. Quote Link to comment Share on other sites More sharing options...
Kakashi2020 Posted November 26, 2018 Author Share Posted November 26, 2018 On 11/5/2018 at 12:22 PM, Onizuka said: Bitcoin is more secure and stable, but in terms of making profit from trading coins, altcoins are better. Bitcoin's rise has made it less susceptible to price manipulation; altcoins on the other hand are relatively cheap and still easy to manipulate, hence the proliferation of pump and dump schemes in exchanges. Here's a hypothetical scenario: In a given cryptocurrency exchange, it would take $645k to clear out just 100 btc at the current level, and there's still the next few fluctuations after that. As a result, it's hard to create a surge in demand by gobbling up the supply. Not for altcoins though. $Nano for example, is only trading at $1.93 and at a much lower volume than btc. Even with only a few thousand dollars, a person could push it a few % higher and the market would follow, which sometimes results in a massive price run. The above scenarios are for whales, or those who have massive amounts of money to trade. So, how do small pocketed traders profit from that? Simple, We ride the price runs if we are able to. Using data from coinmarketcap.com, anyone can see that in 1/1/2017, btc was priced at $963. At 12/31/2017 it was at $13,170 which translates to a 1367% profit. Ripple and Verge, during 1/1/2017, were at $0.006 and $0.00004 respectively. They ended 2017 at $2.12 and $0.18. I'm gonna let you do the math on how much more that is in % profit compared to btc's x13.7. The other side of the coin is that btc is more stable. BTC is only down about 66% while those altcoins are down by much higher values for the 2018 data. Check coinmarketcap for the exact figures if you want to crosscheck what I'm saying. Basically, in terms of trading profit, altcoins are more lucrative, but you'd be open to larger risks. That's the price we have to pay for stability, lower gains. I'm really interested in Ripple and Verge they're quite cheap right now and there's no harm trying to invest small money into it. Who knows even if the risks are high, the gains are worth the risk. Quote Link to comment Share on other sites More sharing options...
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