Don't bet your life on Bitcoin

[ultimateclub 392]

There's one fundamental aspect people are missing here.

Bitcoin runs on energy... It's value currently is limited by the cost of electricity. In 40-60 years you will see the cost of energy spike up, then drop significantly in the second part of this century due to the low cost of fusion energy production (high overhead/low cost per watt). As the cost of energy reduces, the economics of Bitcoin will solely rely on their rarity and utility.

Since bitcoin is currently the easiest to use and most established crpyto-currency. We could see it go one of two ways, collapse-people just stop using it or extreme growth.

If we sustain the journey into cheap energy costs, you could see bitcoin become the go to currency for everyone. Banks are already trying to limit cash currency because it's easy for malicious actors to forge notes.

However, you cannot forge crypto-currency. So my prediction is 2020 will not see much change. But, you could find that bitcoin will be essential store of value worldwide in 2050+ a shit ton can happen until then, but for now, i don't see it is going anywhere.

Your safest bet is to buy up and store small amounts of btc over a period of time to save for some rainy day just in case. But don't bet your life on it.

[josephrioveros123 698]

I think you are correct. And that is correct for life. I think we should always have an alternative or plan B so that when plan A does not go well we have plan B. If bitcoin didn't go to bull run it is still good because we still have save a lot of money thou we didn't get any profit. But the thing is we should have another source of income beside from crypto currency because we can loose it on minutes. Or even seconds sometimes the market are so volatile and we cannot help it to loose some of our money on it.

[adriano2010 77]

I agree that never count on anything in life, even if is bitcoin or buy auctions at a big company, this can make lose more, but over time i think will be made new bitcoin miners who will not consume so much electricity but all depends obviously how much will cost the equipment and the price for bitcoin.

 

But you are right. 

 

 

[Mahi25 142]

If you acknowledge inside the benefit's long haul possibilities by then buy in the event that you think the asset is belittled and has space to create. also, Yes bitcoin for the present is only an auxiliary choice of putting away estimation of our cash bitcoin is still in creating period. Furthermore, I think once all bitcoin is mined we will see stable bitcoin cost.

[febriyana 934]

I prefer buy Bitcoin to diversify my investment. There is some benefit i see on Bitcoin. For example it is decentralized and limited supply. Yes we must don't bet our life on Bitcoin, because Bitcoin is really high speculation. Maybe you all think Bitcoin is the future, but in my opinion Bitcoin already in peak of future. I also don't see big good movement in Bitcoin.

But today is opportunity to get as much Bitcoin for holding, i see many way to get it. Old times, Bitcoin can only found in mining process, but today you can also get it for free.

[guatazoo 7150]

I have already bet all my life in bitcoin, so I think i have made a deal with the devil and I'm stuck here forever.

[sdsonjoy50 886]

The energy or energy you are talking about can be a problem for many times in the world, but I think that Bitcoin will always be able to overcome all adversities and will continue to deal well with all adversities. We will all be with Bitcoin.

[Migo 7946]

This is sure, we shouldn't make bitcoin or crypto world as our first income, no one knows what will happen next, try to have some essential income before bitcoin 

[alexisfuentes 2130]

This is nothing but financial business, I think Bitcoin will not disappear even it its value becomes minimal. Your OP falls into the prediction.

The truth is that no one should lose common sense with either the BTC or any investment.

 

Do not put so much drama remember that the electronic money used by banks is not as old as it seems, until just a few years ago the checks was the most used means to pay.

 

Bitcoin arrived to stay, with its virtues and problems as the Fiat.

 

 

Edited December 8, 2019 by alexisfuentes

[nasipadang 399]

On 12/6/2019 at 5:49 AM, ultimateclub said:

 

If we sustain the journey into cheap energy costs, you could see bitcoin become the go to currency for everyone. Banks are already trying to limit cash currency because it's easy for malicious actors to forge notes.

However, you cannot forge crypto-currency. So my prediction is 2020 will not see much change. But, you could find that bitcoin will be essential store of value worldwide in 2050+ a shit ton can happen until then, but for now, i don't see it is going anywhere.

Your safest bet is to buy up and store small amounts of btc over a period of time to save for some rainy day just in case. But don't bet your life on it.

You are sure that cannot forge crypto-currency, but acts of crime using bitcoin often occur especially in the deep web. Cryptocurrency transactions can be done anonymously so money laundering is still possible.

 

While the problem for energy, now some miners also use solar energy to fuel electric rigs. What you say can happen and it is indeed possible that 2050+ could be an era for cryptocurrency in the world economy, this again is still a possibility.

[Agios 1763]

Thank you for sharing your opinion, hopefully it will be useful for all of us, of course we won't bet our lives on Bitcoin, because Bitcoin is just an extra income, and I believe many people who only take advantage of Bitcoin and don't depend on Bitcoin for their lives.

[myaccount1 584]

3 hours ago, Kabbo said:

Before investing in bitcoin all people should know better about bitcoin and cryptocurrency. Otherwise without any reason they will lost there all money. But bitcoin make profit for all the people if they can buy in right time.

Yes and I think it is a very good and right time for the investment of bitcoin because now the bitcoin is low when those buy it now they will get huge profit.

[Raven 7817]

On 12/6/2019 at 9:13 AM, adriano2010 said:

I agree that never count on anything in life, even if is bitcoin or buy auctions at a big company, this can make lose more, but over time i think will be made new bitcoin miners who will not consume so much electricity but all depends obviously how much will cost the equipment and the price for bitcoin.

 

But you are right. 

 

 

Yeah,  i agree with you. Don't bet our life in bitcoin because maybe it will end someday and if that day happened, it will be a huge lost for you because you are just depending on bitcoin or crypto currency. 

[iloveyobit 6599]

Yes, this is completely true. We cannot rely on bitcoin as a basic factor that determines our lives, but we must try. For me, I am still young and I will try to store as much as I could because even if I fail, I still have time to try something else.

[Kaëns Christophe 231]

its perhaps silly to say but :never put all eggs in the same bucket . You can bet  on many things by the hard  time we live now and we will be face in the future : i mean next crisis . Because of that bet on gold , silver and cryptocurrencies is a good way to protect you because at the top of the crisis you will have no more the acces to your bank account because States will forced bank to do that. Worse of all , a part of your money you save on your bank account will be taken by the States to face the crisis

[Naga 1250]

On 12/6/2019 at 4:01 AM, kusvuw10 said:

It is true that you should not put everything in bitcoin, but a large part is still possible and you can still invest them for a long time, be in control of yourself.

well i dont know about you guys but for now im putting my all in bitcoin and crypto in general because this is the time we have been waiting for the past 2 years and i wouldnt want to miss out on it.

[Naga 1250]

On 12/8/2019 at 2:57 AM, Migo said:

This is sure, we shouldn't make bitcoin or crypto world as our first income, no one knows what will happen next, try to have some essential income before bitcoin 

well i dont know about your situation but at one point crypto was my only source of income back in 2017 and i couldnt be happier, it all depend on your trading techniques and how you handle you position and if you are good at scalping or not. and a lot of people live on trading as well.

[Satishmolankar 1703]

Yes said right you don't be but I will keep an eye to this because it will give fast benefit it will not affect in you life it will change your life with financial it is not bad what we thought you can do it

[Syedbesharat 5423]

10 hours ago, Matchblower said:

I don't fully depends on bitcoin i have alternative to it. It is better to have other means of getting income apart from bitcoin

Very good strategy ,i have also made investment in  other alt coins which now on low price but can be high price in 2020.I  put my stacks on these coins.

[Brushless4500KV 4214]

Betting in anything is wrong because you can't predict future in advance. Bitcoin is one of the most promising cryptocurrencies and many predict its value will keep rising in the future but each halving will decrease supply and increases demand due to higher prices. It is still not clear what will happen to bitcoin if this trend continues because if miners can't earn enough by confirmations and fees, they may leave blockchain and the whole network will collapse without profitable block rewards. So, always invest safely and take anything into consideration before buying bitcoin.

[Kuroashii 181]

Sometimes in life we get so excited about things that we became too irrational on making decisions. And as result we get to be bummed after. So it is safer and wiser to make other plans to reach your goal.

[Sohel Rana 406]

Yes you are right. 

I invest only my additional money in crypto market. That's why  If I lost in crypto but nothing happen anything with me.

I already know about bitcoin and crypto and always buy when bitcoin price very low.

I think anyone can't invest in crypto when bullrun come.       

[urooc 218]

i think we should not bet our lives just because of btc because it's value is not constant it has rise and fall according to the market prices.we cannot just rely on this because if it go down that will make your life critical. we should also think on the other side as well but just relying on btc is not good for us.

[Pearls Before Swine 815]

On 12/5/2019 at 5:49 PM, ultimateclub said:

So my prediction is 2020 will not see much change.

Oh I disagree with that prediction.  I think the halving is going to have a big effect on bitcoin's price and that it will lift the entire altcoin market as well.  But that's something we're going to have to wait and see for, because it's still about 5 months away.  And bitcoin has been stagnating for months now and it's due for some movement.  Not sure if that's going to be growth or loss, but there's going to be movement.

[Sohel Rana Sazzad 453]

I can't remember Bitcoin my life because Bitcoin is not my life Bitcoin can only be invested with one currency and Bitcoin.