Don't Buy Bitcoin!
The Bitcoin network is currently getting flooded with transactions and nobody knows when you will receive your latest Bitcoin transactions.
This is a crisis for people that depend on Bitcoin to pay their bills as Bitcoin is required on all platforms that I know to transform it into fiat.
Imagine you can not pay your rent for a month. That wouldn't be a problem just call your landlord and he will probably have no problem with it, however, that is still fucked up and you may have a fucking asshole as a landlord.
I used 40SBD two days ago to buy Bitcoin to turn it into EUROs with Wirex. Exactly when that Shitcoin stuff happens I did that transaction. That was a good lesson that I learned that day.
A nightmare for everyone that owns a lot of Bitcoin, they just lost a lot of cash (they are still rich tho, so whatever.)
However, If I was an investor I wouldn't buy Bitcoin anymore (except when you need it for fiat).
I would look into altcoins that look very promising and invest into those. With luck, you can make 100x out of it instead of a 2x with Bitcoin (if you have luck).
The Bitcoin Network is Congested
Just take a look at this link here: https://blockchain.info/unconfirmed-transactions.
Almost 300000 motherfucking unconfirmed transactions! Yesterday the number was 270000 so it almost increased by 30000!
I will have to wait a very long time till I see the Bitcoins in my wallet!
If you want to do a Bitcoin transaction I highly recommend that you wait till the network is faster again and make better use of your coins because you won't be able to do anything with the Bitcoin for probably a long time!
In other words, you made a loss if you made a Bitcoin transaction in the last days! I could have made better use of those 40SBD!
For example turn it into Steem power! So be smart & wait till the Bitcoin network is stable again and avoid losses.
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Good advice at the moment @Valorforfreedom. I do believe Bitcoin will make it through and keep moving upwards, but might just take some time to settle the ship and get some real solutions in place to fix the discord and division currently going on in the community.
I would highly recommend checking out DENT coin if you havent yet. They just got their Dapp officially approved by Apple and it will released over the next days. Exciting stuff and great disruptive tech for the Mobile Data Industry.
Thanks for sharing your insight bro!
Good comment and insight Creativerebel.
I am not an investor and I will stay with Steem as I am a good blogger. I am, however, forced to learn about Cryptocurrency and some trading because Steem needs to be converted into other Cryptos to turn it into Fiat.
I hope some smart person creates a decentralized Steem to Fiat platform soon. That would save all Steemians a lot of trouble and cash.
Ah nothing more motivating to the intelectual development then neccesity. :p haha
Its facinating how things are rapidly changing and evolving faster then I think anyone can keep track of.
Lets put it out there that someone does find that solution sooner then later eh? ;)
Thanks again for the blog, all the best!
I feel the exact same way. This is just one of the things that may be problematic for Bitcoin. Slow transaction speeds, high fees. Whenever I've bought bitcoin it was only to trade into other cryptos.
I mean if I had some extra dough then maybe I would considering buying a bitcoin and holding but at this point I can find many other promising currencies for much cheaper. Like Steem.
I bought Steem when it was around .28 cents. A $1,000 investment bought me 14k Steem. I'd rather be able to hold bags of coins at a time instead of a couple. I am still kicking myself too about when I first bought bitshares. I bought 1M bitshares and now it would have been worth half a mil.
Unfortunately I traded into other currencies and no longer hold the bag of bitshares I once had. Bitcoin couldn't get me that because I could only buy so many at a time. Smh
Seems like every investor has his regret stories. The best thing to do is see those things as lessons.
Never be emotional when investing or trading. Make rational buying decisions and stick with em.
I may start investing in the future, I will be investing in Steem, Hah!
I believe steem is one of d big investments one could do.
I agree with you on the bitcoin story. Now the priority can be given to the altcoyns, for example, I hope for Ripple and the waves, this is for me the best options for next year, as I have a huge team of developers, and they do the business in fact.
And what is happening now is a massive sale before the new year. Last year, we saw a similar picture, people sold to the maximum. But at the beginning of the year, growth began. I hope the next year will grow, although it will. Thanks, it's interesting.
I agree with your statement, good insight for investors, however, I only care about BTC at the moment because I need it to turn my Steem/Steem Dollars into Euros.
Next year in Summer Wirex will release a Litecoin wallet. Then I won't care about BTC anymore.
I always warned people of technical limitations for Bitcoin and its way to Mainstream, that is why I always prefered altcoins. It is a bit hard to distinguish altcoins from shitcoins, but even if you make a mistake or two... diversify your portfolio and you still come out a winner.
100% agree. I am not even an investor or trader and I learned that shit yesterday. People do 0 research before they invest or trade.
Sheep gonna sheep.
Yeap, they just climb on the latest trend that is going to make them "rich overnight".
Heck, look at Bitcoin's "traders" and "investors". Most of them can't even grasp what Blockchain is!
I asked a friend of mine who bought Bitcoin if he knew how to mine them, he said its like this:
Lol
They always do, they have no steadfastness.
You never know haha.... A coin doesn't have to be perfect to retain its value. I'm using this as a buying opportunity on its way down but I'm not a super risk taker either so it's going to be small amounts.
If you were going to base your investment in usable coins there's simply too many to choose from. I personally have my eyes on ETH and their planned changes coming in next few months that will speed up their Network significantly.
This ain't a buying opportunity. You will be lucky if you make 2x out of that. There are altcoins out there that make 2x every week. Steem for example.
Other altcoins make 100x jumps and yet people still invest in Bitcoin. Imagine you buy a Bitcoin worth 10k for $1 (just an example) and it jumps to 20k you now have $2.
Imagine you buy "Lesbiancoin" for $1 when it is worth a cent. After 1 week lesbian coin is worth $1. You now have 100$.
If I remember correctly that is how you make profits out of investing (sounds logical to me). I am however not sure about it so take it with a huge grain of salt.
Chinese bank DDOS site of bitcoin to promote there altcoin. Lots of people turn into bitcoin cash because of the segwitx2, in the future I will only invest on crypto who have it, it's a lots more faster
But for now, for buying altcoin we must buying btc then trade.
Nice video of bitcoin information
It wasn't the best timing was it, to decide to try a bitcoin transfer. I had to call up my landlord as I'm one of those people depending on SBD to pay deficit in rent each month, but I luckily have a very understanding landlord.
That is unexpected mater... @ valorforfreedom
BitCoin will be between 50 thousand dollars and 100 thousand dollars in 2018 . do not miss this opportunity @valorforfreedom
Will be a 5x or 10x if I invest, that ain't much.
Good advise at the Moment,and I guess those who invest in betcoins are selling now with lost.
I guess that is what affect SBD also.