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Is Bitcoin worthy or worthless?

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  • #16
    As of now, first week of Jan 2017 1 BTC~ $1150. So the valuations as of now are quite high and the popular expectation is for the price to rise even further, which makes Bitcoins really worthy. If you are in the field of Bitcoin investing, then you would like the appreciating price, more so if you bought BTC at lower price earlier. China is a major factor of late, though other big players might be also looking to BTC.

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    • #17
      The whole 2016 was a year that was truly spectacular for Bitcoin, it was not beyond worth having it.

      Even how it has started the year with unbelievable gains, but it obviously dropped all that, it’s still fair to say it’s massively large and there is some serious potential there which makes it just so much more special and is like the leader of the pack in global market as per present.

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      • #18
        Well 2016 was a spectacular year for Bitcoin rising from the lows to near to all-time highs! There were major events too like BREXIT, USA Presidential Elections, China factor towards the year end and in the early part of New Year! How far the price can go further nobody knows, but price did slip giving a scare which might have led to panic selling, profit taking or any other attribute! I think BTC to USD would not cross the $1500 mark, if at all!

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        • #19
          Why would it be worthless? It’s money only and money can’t be worthless no matter what. So, the question is pretty silly and that’s when I am being very respectful. I would love to have Bitcoin and would love to do mining as well for it, but I am not having that good system to do it.

          I believe if people have such system then it surely is great chance to collect as many as we possibly could!

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          • #20
            Sergey, I think the TS simply raised hypothetical question! Bitcoin can indeed become worthless if government says so and there is nobody to exchange it to some other currency. Then you would be left with useless things. But that again is hypothetical and not possible. So we must be more pragmatic and open to all possibilities. Those who blindly invest would suffer later! Basic common sense and golden rules of investing holds first and thereafter only any further approach to earning.

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            • #21
              Partly agree with Monica. What someone considers worthy or worthless depends on how they perceive the investment vehicle and what their investment objectives are! In any investment plan, one intends to save the main account and thereafter expects to make some profits over top on it!

              So, all the consequences of investment are to you only. You can’t automatically earn profits simply by investing somewhere! Bitcoin as of now is doing great but you need to cautious as usual.

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              • #22
                Yes it depends on how people consider it. If someone considers Bitcoins to be worthy then they would take good steps to use it, complete with all risk managements. Similarly those who believe Bitcoin to be worthless won’t even use it! So it depends on the thinking and action. Worth is related to value usually over time and if some asset can appreciate in future some decline over time. So you must be very clear on this.

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                • #23
                  Something running over 1k can’t be bad or can be? I think Bitcoin is pretty good and amongst top running assets over last 3 years running, I would love to have such “Worthless” stuff with me! However, I am not so much lucky to have it.

                  Anyone else feeling it been worthless? Please forward it to me and I will LOVE to take care of it.

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                  • #24
                    I am very sorry but if Bitcoin is not worthy then I don’t know what is worthy! Bitcoin is single most precious assets at present! If this is not good then there might not be anything near its level, so we need to be extremely watchful and not call it worthless without knowing facts or we will only look and sound silly. I really love BTC and believe we are lucky if we have it in the bag!

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                    • #25
                      Till now it is worthy as you can convert or exchange your Bitcoins with normal currencies and earn money for that. But the same can’t be said of future.

                      The price might crash or Bitcoin can eventually collapse leading to full loss! This is due to the nature of Bitcoin’s legal status which is quite not clear and is thus vulnerable. So it is in investors own interest that they consider all risk factors before investing their money.

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                      • #26
                        I second you Michael Greenberg. As of now, Bitcoin is highly worthy but what happens in future nobody knows. So one can’t just dismiss the case but must be practical enough! If you are not comfortable using Bitcoin then doesn’t use it instead of getting into it and then feeling bad and emotional. All money related issues must be thought of clearly and then only a good decision made which should cover all the risks so that you have more chances of success.

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                        • #27
                          That depends on your thinking and nobody can change it! That being said, every asset class would have its own characteristics and mechanisms which should be appreciated and followed by the user.

                          Bitcoin as of now is highly worthy trading around $3000 and there are indications of further rise in near future too. But how far it would go and what happens next nobody knows. People must therefore be risk averse and not do anything if they are not comfortable!

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                          • #28
                            Yes Rexcon Khan. Bitcoin may be worthy or worthless as there are no clearly defined legal rules regarding it. So people dealing in Bitcoin must be very careful enough as the asset class worth might increase or decrease depending on the prevailing situations. As of now Bitcoin is very high but if something bad happens then it would go down very much lower and those people who bought it would lose much. So crypto-currencies are very dangerous asset to deal in!

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                            • #29
                              Only a worthless person will talk about BTC as worthless, so have to worry least about these things. We need to understand the value of BTC and many people out there understands it.

                              I believe if we don’t understand the value then we could suffer a lot, so we have to be extremely watchful and take full benefit from it. If we don’t understand the value and how things work then we will never be able to gain well.

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                              • #30
                                It is high worthy but we need to make sure we understand about it properly, as there are many people who are not able to understand it correctly and ten feel worried. It’s great to have BTC because it can benefit us massively but if we are not able to understand the value of it then we will not get much out of it. So, that’s why we need to make sure we understand the true value of it and that is what will help us gain fairly well.

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