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Martinsx
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Everything posted by Martinsx
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There is a general saying here in my country that every business man is greedy and I personally agree with that assertion because in business, if you are not greedy, it's going to be very hard for you to expand your business.
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The world might eventually get to that. So, I'm of the opinion that we should get ready for anything possible when it comes to technology advancement.
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What is your Christmas Wish for Bitcoin?
Martinsx replied to Kakashi2020's topic in General Discussion
Of course yes. The fall definitely affects people's trust in the cryptocurrency and it's stability as well. Take for instance, someone who invested in Bitcoin when it's at $10k and now it's at $3k, how do you think the investor would be feeling? -
The truth of the matter is that there is no way of knowing what would happen with Bitcoin tomorrow but all investors hope at the moment is for it to stop falling. But those that are yet to invest are praying for it to fall more.
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What is your Christmas Wish for Bitcoin?
Martinsx replied to Kakashi2020's topic in General Discussion
Let Bitcoin stop falling in price because it reduces the cryptocurrency into nothingness. -
If you have your money already invested in Bitcoin, I would advise you to just leave it on it for the moment. Even though the price is falling at the moment, don't sell it off. If you still have extra fund to spare, you can invest more but don't invest too much money in case all goes wrong.
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Exactly! You are absolutely correct with that assertion on how devastating it would be for people who aren't privileged to have millions to spare but decided to gamble with the cryptocurrency investment only to end up losing.
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Personally, I'm fully in support of running a cashless policy and state. I don't see anything wrong with it as long as adequate security to prevent people's data because in a cashless society, data is worth millions.
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Actually, it's greed that is their first fault when it comes to rushing into such investment without having all the necessary information at hand. It's good to be greedy at times because it what makes you to take some opportunities with both hands but apply sense when being greedy.
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To the government, it's practically dangerous because they would lose all their possible controls and manipulation of the currency, thereby leaving everything in the hands of technology.
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Should Bitcoin be considered a Commodity or a Currency?
Martinsx replied to Kakashi2020's topic in General Discussion
Then we have an understanding already because we agree on the same thing even though it's not 100% agreement but there is no need to drag it out any more. It's possible that it can be seen as a commodity and currency as well, it's only the future that would determine the real nature and value that would be placed on cryptocurrency. -
I don't have much trust in all these new cryptocurrency blockchain that are being launched on daily basis because most times they are not secure and stable to invest in. China is very well known for launching numerous cryptocurrency but how many of them are thriving?
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Seriously, everyone expected Bitcoin to at least appreciate a little bit at the end of the year but look at it now, it's behaving so bad with its instability in price. I really wonder what would happen in 2019 with Bitcoin specifically.
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Exactly! From all indications investing in Ethereum is a very good choice because with what Bitcoin is suffering at the moment, it's never advisable for the moment.
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Seriously, I'm considering picking Ethereum over Bitcoin as a more reliable cryptocurrency because it seems more stable in all ramifications when compared to BTC.
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2018 is a relatively messed up year for Bitcoin if I'm being very honest with you. The volatility of the cryptocurrency never really favored most Bitcoin holders rather it made them lost money and still losing at the moment.
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It's indeed terrifying because when you consider the amount of money that so many people would lose in Bitcoin investment, it would break most people's financial foundation. I also hope the price appreciates soon because if it keeps at this pace, it would be worst in 2019.
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Exactly! If you fail to consider the risk and benefits that are involved in any investment that you desire to get into, monitor the trends in the business and know when is the best time to invest your money, you are definitely going to lose your investment.
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Should Bitcoin be considered a Commodity or a Currency?
Martinsx replied to Kakashi2020's topic in General Discussion
If I'm getting what you are trying to say, cryptocurrency is both a currency and a commodity. Well, I agree with you on this to some extent but I'm seeing it as more of a currency than a commodity because not all commodities can be used to pay for transactions but cryptocurrency are used for such purposes just like currency is used. -
There is no way of putting a dot on when the market would settle down because I had a strong belief that it was when the price stood at $6k for a long while but look at things now.
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The point is that there is no way of knowing whether it's going to keep dropping or skyrocket the following morning. But I think that the current price is good to invest in Bitcoin but my advice would be to not invest what you can't afford to lose in case of another fall.
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Seriously, it's very disappointing that Bitcoin took this kind of graph with its fall in price. I was actually looking forward to a major breakout in the price of Bitcoin as well by January but from the looks of things, 2019 will be a year of major fall in cryptocurrency.
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Well, my country Nigeria will definitely be among the last country that its government would approve and accept the use of cryptocurrency in the banking sectors. Recently, I just saw a news update that one of the banks in Nigeria called Union Bank threatened to close down any account that is cryptocurrency related.
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PS. The current price of Bitcoin will absolutely show you that nothing is guaranteed with any digital currency investment. It's more about taking risk with the investment and deal with the consequences on whether you gain or loss from it.
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It's very possible that the price of Bitcoin will appreciate as it's a matter of when because at the moment, it's still on a nosedive mode with persistent dropping in price. Have you considered what would happen if the price never appreciates? So many people would lose millions of dollars and so much more.
