How to prepare for the bitcoin crash

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Bitcoin will do one of two things. It will go mainstream or it won't. If it does, good days to the holders, if it doesn't, then bad days to the little men. Simple as that. However, the time is coming.
 
TWdesigns69 said:
oooooooooooohhh if i could award this post 100 likes i would. the best post on this thread imo. You are my kinda guy. I esp. love the last paragraph. Long term white hat projects are the best.
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He is right, but whilst the money is easily made with buying and selling alt coins, than it should be done! we follow the money and then we invest it into multiple things.

And we all know, never put all your eggs in one basket.

I do amazon fba/etsy full time, but it will never hurt to poke my hands into crypto aswell you know.
 
I guess Churn and burn approach is the best for BitCoins. Earn while you can and get rid of them when cracks start appear in Bubble. Once it's down enough buy again and repeat the process. There is a very good chance current price gonna crash but it won't crashing for long. People will start buying again so value will become stable again and then start raising again.

Anyway I'm curious about these other cripto coins which stays under BitCoin shadow. Will these coins have a future ? Everytime Bitcoin prices start going down same happens to these coins too.
 
Amiles said:
I don't think bitcoins will ever crash. Why would they?
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A few variables could cause this.

What happens from here will depend a lot on how governments react. Will they tolerate anonymous payment systems that facilitate tax evasion and crime? Will they create digital currencies of their own? only time will tell

We all know our governments are capable banning or putting restrictions on crypto, a few countries around the world have already banned it and it's become a crime sadly.

My bet is they would create their own digital currency, they have the best marketing in the world lol, SO WHY NOT!?
 
BigManTing said:
A few variables could cause this.

What happens from here will depend a lot on how governments react. Will they tolerate anonymous payment systems that facilitate tax evasion and crime? Will they create digital currencies of their own? only time will tell

We all know our governments are capable banning or putting restrictions on crypto, a few countries around the world have already banned it and it's become a crime sadly.

My bet is they would create their own digital currency, they have the best marketing in the world lol, SO WHY NOT!?
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Why even bother explaining? It seems like quite educated people are willing to dismiss the blatantly obvious problems with Crypto.

Yeah of course there is money to be made with Crypto, you would have to be a moron not to see this. However there has to be a get out point, a point where you have actually took money, and not made imaginary chips.

A crash may or may not happen, but I'm betting my money on getting in and out, not holding onto worthless tokens. Each to their own anyway.
 
BigManTing said:
He is right, but whilst the money is easily made with buying and selling alt coins, than it should be done! we follow the money and then we invest it into multiple things.

And we all know, never put all your eggs in one basket.

I do amazon fba/etsy full time, but it will never hurt to poke my hands into crypto aswell you know.
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I agree. I love btc and crypto and have nothing against investing in it. I was actually referring to the the last paragraph of his post where he talks about making long term white hat websites. Thats what am doing now so it really resonated with me. Cheers.
 
aussies said:
People been saying this for a long time, might happen ot might not. Regardless theres bigger profits to be made, move your money into Ripple it won’t crash & will moon in 2018.
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Ripple is centralized right?
 
shagoholic said:
More people mining more bitcoin WILL increase the amount of bitcoin in circulation.

More bitcoin is circulation. Means prices go down. The only reason prices are high is global demand for bitcoin, which is been fuelled by the media hype.

Simple economics!

Just to clarify, you also don't "win bitcoin" ... Here is a quote from investopedia.

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. ... The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.
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To clear this up. No. More people mining does not mean more bitcoin created.

Bitcoin has a target of 1 block every 10 minutes. If more people start mining then the total network hash rate goes up meaning blocks start to be added to the chain faster. If this continues the difficulty is adjusted up automatically until its back to 1 block every 10 minutes.

The reward for adding a block currently stands at 12.5 btc. This reward halves every 210000 blocks so by mid 2020 that will reduce to 6.25.

And it could be fair to say "win" bitcoin. Its called a reward for one and secondly something a lot of people dont realise about mining is that it is a race. The first "miner" to find that valid hash gets their block added and claims the reward (plus all the fees in the block). Thats how we ended up with such large pools.
 
BigManTing said:
however i think a better approach and more sensible would be to day trade whilst we know the present time is certain and the future simply is mystery.
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Statistically, 99% of day traders lose more money than they make on their trades. It is definitely not a more sensible approach, especially if you do not know any TA. There are much smarter people doing day trading that are unprofitable in the long term.
 
I personally think it is far from "crash" and the price will grow exponentially in next 2 years at least



mickyfu said:
A crash may or may not happen, but I'm betting my money on getting in and out, not holding onto worthless tokens.
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Like US dollars or any currency not backed by gold? They worth something more than paper only because of people trust in governments.

Why is gold worth what is worth (like many others universal goods) and still climb from 5000 years from now?
Because it follows 3 simple rules the ideal currency should have:

-limited amount
-easily fractionable
-everybody recognize its value

In some way BTC follows the firsts two rules; the third is what makes it a bubble or not, and I see it's starting to materialize seriously. This is why, IMHO,the price just started to climb.

This doesn't mean after some years it can develop serious issues / vulnerabilities (such mathematical shortcuts to resolve blocks, or CPU/GPU evolutions like quantum processors which would totally take over the remaining tokens)

I really never been into BTC in particular but I'm going to buy in the very next few days and hold i until 2020 mainly for the reasons I TLDR'd here on
 
F4lken said:
I forgot to say this is also the main difference between BTC and all others shitcoins/bubbles
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Something you forgot about Gold is that it also has a physical use beyond shiny jewelry. It has huge uses in the medical and industrial industries. Bitcoin has no physical presence.
 
islandman1010 said:
Something you forgot about Gold is that it also has a physical use beyond shiny jewelry. It has huge uses in the medical and industrial industries. Bitcoin has no physical presence.
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Gold's value was already huge way before it was implemented in industrial / medical applications
 
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