Don't bet your life on Bitcoin

[Oxygen 1004]

On 12/6/2019 at 3:49 AM, ultimateclub said:

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.

Yup sure! we can not bet our life on bitcoin. That is the reason i always keep bitcoin as a second priority. And give proper time to my physical business. After getting some spare time i give it to bitcoin. But it is not means that we should not adopt it.

[miskyming 1588]

This year 2020 bitcoin has big changed look at the price now. It was already reached $10,000 and also the market are increasing the price of cryptos. I think because of the bitcoin halving and for sure in the next month the price will increase for more. 

[Zentoly 419]

3 hours ago, Lativak said:

Risking all of your money with trading or investment is a really bad idea, you only need small amount of money to invest and not very big amount of money that if you lose your life would change in a really bad way.

It is a good idea but the main thing is that if you have no idea about trading or lack of knowledge then you are right its not a good idea to trade your all money.

[Sameer 66]

I agree with your statement. Bitcoin may have promising future but still we should not bet everything on bitcoin. You can find some people who buys bitcoin with all their savings. Don't be person like that. You can invest your money on other places too. So, It the market crashes you can easily get back up. When you have good sources. You can invest on real money like gold and silver. That's What I Believe. 

[Maroua 1159]

it is authentic and certainly i in my opinion won't bet my life for bitcoin due to the fact so far bitcoin is my secondary option to making a living so i do no longer dare to go all in for bitcoin simplest because it's too volatile .

[Beromnia 733]

Welcome with me
My friend, all possibilities are possible. Personally, I do not see Bitcoin losing all its gains after 10 years of existence.
Currency You will know scarcity in the coming years, which raises its value
Countries are on the curve of coding acceptance and codification
Bitcoin remains the currency of the future

[Shaza Ahmad 1682]

Well, I don’t think anyone’s expectations are true, Bitcoin is out of all expectations and no one previously expected to reach $ 20,000 when it was $ 0.1, at least all investors trust the bitcoin’s future and I think it is very valuable.

[BTC Future 3946]

There are many negative remarks for the really high carbon imprint of Bitcoin. This is reality and everyone accepts it. Still there are efforts from other cryptocurrencies to reduce this as Ethereum will move away from PoW into PoS and it won't need the massive amount of energy it requires now to run it's network. This is a good test that if successul, it can always be adopted in Bitcoin as well. It is all about efficiency and reduced costs anyway. The cost to the environment has to be accounted as well, as it has started lately with major corporations.

[hamadahajali 394]

Yes, of course we must, as traders, not to make trading the primary thing in our life and rely on it completely. This is wrong, we must make trading as a secondary income and rely on it in part.

[Ahmeddominik 126]

12 hours ago, hamadahajali said:

Yes, of course we must, as traders, not to make trading the primary thing in our life and rely on it completely. This is wrong, we must make trading as a secondary income and rely on it in part.

Yes my friend that trading is very uncle to us and it must be a basic thing in our practical life and it is provided from the secondary inside in our life in addition to the basic work that we do.

[idena 7]

I don't bet my life on bitcoin, but rather it is in crypto. Because my income is more in crypto rather than bitcoin. So that I do not get my hopes up on bitcoin.

[Efs 164]

.Leading a crypto-indexed life should be risky, stressful and challenging. I wouldn't recommend this because you cannot predict how the cryptocurrency prices will be.It may be upset that you live all overnight. 

[Michael0606 861]

Remember teaching the legacy of trader to trader, psychology is key in the crypto world if your emotions dominate you, and you become impulsive you fail since you are being manipulated by the ruthless cryptocurrency market so it is better to first form our mind to  subsequently enter this world.

[Ayush Singh 1175]

Yes I also totally agree with this topic I think that investing your whole life in such digital coins will go in vain rather you should do some efficient work which will give you a regular earning to sustain your life these digital coins is very good for trading or investing in your free time rather than investing your full life in it.

[Zaino34 0]

Yes, you are right in that it is not possible to bet on Bitcoin, but so far I have achieved good profits from it in the field of investment and trading, so I will bet on my money in that because I may achieve good profits from it.

[Upright 2688]

As usual having to just solely rely on Bitcoin won't really be wise enough to that total commitment on it, that's why we normally have a day job or others as to be a primary source of income. But it's good doing both and be successful at them all

[pablomarwan 3082]

Everything has negative and positive advantages Bitcoin is an electronic currency, so there is no way to counterfeit it, but it is possible to penetrate the portfolios that are stored on it has other advantages that you can deal with any person in different regions of the world, perhaps this is the Bonouk resort to include them in their services and give up a currency Mineral

[jamesvince 2389]

Few years no one believed that bitcoin can ever crossed to 1000$ but bitcoin proof in 2017 and 2018 bitcoin reached 20k and then although not much high again but now this halving events of May 2020 is game changer eventually event because majority of experience experts said this. 

[Michael0606 861]

So the importance of good risk management, and mental control of emotions when we operate the market, that is one of the important pillars of the trader in the trade, once you understand it and the rest is to learn the technical.

[Saj555 2250]

It is not wise to bet or rely on any kinds of cryptocurrencies. Because all the cryptocurrencies not carries the same price for themselves always. The price differs from time to time. And a bet can ruin you. Always analysis the market and then try to invest or trade in the market. Because by that you will understand the market better. 

[Yunusalemu 0]

i Really don't see any much energy to which the bitcoin frains from our mobile phones, desktop, laptops or any minning gadgets we use in minning, rather it only draws more proccessing power from the devices, the power spent on watching movies, playing games and chating is more that that used in minning. 

[Thekingcallme 1975]

Don't worry, things will be fine, bitcoin is increasing in value and demand around the world, and this is positive

It can afford the bitcoins it needs to keep booming

[Ismoney 230]

For a trader in Bitcoin that has good reasons why he should either keeping buying or sell the coin, they dont bet. But a careless investor is since no real reason for the transaction in it.

[George10 9932]

That's a true clarification mate I think you are right we shouldn't bet our life on bitcoin because no one knows it's future but as you said it might be great for store of value therefore,it's promising to go a long way and it would be a wise decision to hold or invest in it because it will be definitely expensive ounce everyone starts to use it all around the globe.

[Yomose 3704]

15 hours ago, Majeshi said:

You are right friend, we should not take bitcoin as our main source of income because anything can happen. Bitcoin is a digital currency that falls and increase in price any time and any day. We should remember that always!

It depends, some only depends on crypto as many or most depends only on fiat for surviving. Like me, I depend only on cryptocurrencies  a because it brings me more income. Infact, I have never earned fiat before.