Kakashi2020

The problem sometimes is that there's always a new site which has neither scam reviews nor trust ratings and these sites move very fast to sucker in investments, masquerading as old sites and showing of fake members, investors and withdrawals just to attract people to invest and after that they quickly fold.

I think governments are identifying cryptocurrencies as scam tools and thus being ungoverned and uncontrolled, they're having doubts on its legitimacy also there's a lot of crypto scammers and crypto exchanges which where found to be scamming people, and this made the government to implement a crackdown.

In December 9, 2017 the price of Bitcoin was soaring at $17,900 and that was only 6 months ago. The price then steadily depreciated and as of February 5, the price is down to $6,200 now it's already June and after the price is $6,100.

Well it's like gambling, no one knows what the future will bring to cryptocurrencies specially Bitcoin. But if you would rely on past years performance then it's still a positive investment, since it's price appreciated so much in the past couple of years.

Like what's happening to the price of Bitcoin which up to now is still depreciating if not swinging wildly. I have a good stockbroker friend which even with his experience can't make odds or ends when it comes to the price of bitcoin. He told me that it's very unpredictable and doesn't follow normal rules, it has a very unique movement, that according to him can't be predicted by statistics. I think only time can tell what the future is with regards to Bitcoin.

Well I for one would always read scam reviews of the site and if it's a new site then I'll base it on its trust ratings which can be found in scam review sites. I think this is the best way of avoiding scams sites which focus in cryptocurrencies.

It's been more than half a year since Bitcoin stopped its appreciation and it's price is continually dropping. When would it rally again? Will the price double this year or will it remain stagnant?

I was really interested in building a mining rig last year but sadly a lot of news came out saying that mining rig operations isn't cost effective because Bitcoin is a bit hard to mine nowadays unlike several years back when there's a lot more bitcoins available to mine and when it's price was still low. But nowadays it's getting pretty hard to mine because there's only a limited number of bitcoins left to be mined.

Yep, it's like gambling in a way, you'll wager in 10 currencies hoping that atleast one of them hits the jackpot. But doing this is logical and statistically sound.

For me, I'm waiting for the Bitcoin price to stabilize and when it does then I'll invest a significant amount of money but until now it's price is swinging wildly, that's why Im not comfortable investing at the moment.

Well, with the price of new cryptocurrencies being so low it wouldn't hurt my pockets to invest a small amount in some of them. I guess it's like betting on a lottery ticket you can win a lot or lose some.

You're quite right in that cryptocurrencies are the best currency to use when moving illegal money from one place to another because it's untraceable and the ownership of funds would remain anonymous.

Cryptocurrencies are something new and it's always best to be updated in new things. Although crypto coins are still in the acceptance stage, eventually it would be the norm, that's why I'm interested in it.

You have a point there but considering the very small number of Bitcoin and Cryptocurrency users, I think governments can handle it. And banks as you know sustains itself through greed, they can and eventually if the cryptocurrencies starts becoming a popular currency that rivals banks then they would eventually consider to ban it or the government may classify it as illegal.

There's a lot of different cryptocurrencies being offered in the market nowadays, excluding Bitcoin, what coin / coins are you considering investing in?

I read an article that says, it's better to invest a small sum of money in a number of newly launched cryptocurrencies than to invest money in well known coins, it's because of the appreciation of newly launched coins. All a person needs to do is to pick 5 - 10 newly launched coins and invest in it, in about 6 months most will be duds but 1 or 2 would appreciate 10 fold and would become successful. Do you think this is a good thing to do?

Talking about a few good funny names that could be used in cryptocurrencies, I got the following: KORNS - Kernels KRAPKOIN - Krappies FROSTCOIN - Frosties

I'm interested in cryptocurrencies because of the high gains an investor could get. We could see a lot of gains in the past in different Cryptocurrencies, in which the price have doubled and tripled and even increased 10 fold over a short span of time and that price appreciation is worth the time to study.

You're quite right in that a lot of people have been selling, mostly those who have retained it for a long time, and are now selling for profit while some are new investors who are trying to cut their loses. But I really think that considering its performance in the past that it would eventually settle and go up. That is one thing I'm sure of, whatever happens the price will go up.

You have a point there that's why they hate Bitcoin and other cryptocurrencies because they can't control or profit from it. But Governments and big businesses do have the power to ban bitcoins.

With the price of Bitcoin is still falling below the $6.6k mark, and with governments around the globe are expressing their doubts about Bitcoin because of scams associated with it, I think that eventually another coin with global acceptance will take its place. It could be a government regulated currency which would be more secure and safe.

The Bitcoin price is still dropping, it's price is at $6.5k today down by $200 plus since yesterday and about $1.3k since last week. This is maybe because of the recent heist in south Korea where about £27.8 million of the virtual coins were stolen.

There's a lot of talk about Bitcoin making Fiat money obsolete and that Bitcoin would one day become the new world currency. But the way it looks in reality is Bitcoin would have a very hard time if not impossible task in bumping off Fiat money. Also the world's governments and the powers controlling big businesses seems wary in trusting and supporting Bitcoin.

It's really scary since the price of Bitcoin seems to be falling, it's now at $6.8K, a few days ago it's in the $7K level. I for one believed that it won't depreciate that low, I really thought that it was settling down to about $7.5K range before it goes up again. Now it's falling downwards and has depreciated to $6.8K WoW! It's price movement is very erratic and hard to predict. But if we look at the big picture, with its appreciation over the years I really think that it will still appreciate, the question is when and by how much?

I can't believe that researchers concluded that Bitcoin would end up as a payment processor and not as an alternative to Fiat money. It's long been said that fiat money would eventually give way to a new online currency and I tend to believe that. Paper money would eventually disappear, but the big question is that would Bitcoin be the one that would make fiat money disappear or a Bitcoin like currency made by the world's government would be the one?