bitcoincambodia.com review

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armchairlawyer
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Re: bitcoincambodia.com review

Post by armchairlawyer »

Nicolas wrote: Mon Nov 25, 2019 7:25 pm
I wouldn’t mind if it goes down more. Expecting back to 10k in 3 months, but that’s just my bet.
You're a brave man to go against Chinese crackdowns. Look what one did to SHV real estate!
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

armchairlawyer wrote:
Nicolas wrote: Mon Nov 25, 2019 7:25 pm
I wouldn’t mind if it goes down more. Expecting back to 10k in 3 months, but that’s just my bet.
You're a brave man to go against Chinese crackdowns. Look what one did to SHV real estate!
Neither brave, neither against crackdowns. Bitcoin supply is limited, and in 200 days the mining cost to create new coins will double. What’s the end game in 5 years? Worst case scenario I will lose money I didn’t really need, best case scenario I’ll buy a house. Or two.


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Phnom Poon
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Re: bitcoincambodia.com review

Post by Phnom Poon »

the end game is that it will be worth nothing if trading to currency is banned

.

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DaveG
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Re: bitcoincambodia.com review

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Phnom Poon
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Re: bitcoincambodia.com review

Post by Phnom Poon »

only because recipients can cash it out

.

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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

Phnom Poon wrote:only because recipients can cash it out
Yes. Crypto currencies are used as payment or money transfer. You don’t send your USD anymore, you just transfer your USD into bitcoins, transfer the bitcoins and the receiver transfer back into his own currency. All this for a ridiculously low fee.
Cash in and cash out under 20 minutes.



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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

Phnom Poon wrote:the end game is that it will be worth nothing if trading to currency is banned
Trading crypto is already extremely regulated and gains are taxable. There’s no going back, more and more institutions are investing and trading crypto. But value is about offer and demand, if users stop using bitcoins for something else, Bitecoin will plunge and another one will raise. Same for any FIAT currencies.

The only question is what will be the cruise value of a bitcoin in a few years? Nobody knows. Can’t be under production cost ($3500 to $6000 for what I’ve been told), so anywhere between $6000 and $40.000 seems a fair bet. $50.000 to $100.000 is not impossible. Nobody knows.


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fsdfdsdf
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Re: bitcoincambodia.com review

Post by fsdfdsdf »

Nicolas wrote: Wed Nov 27, 2019 10:29 am Trading crypto is already extremely regulated and gains are taxable. There’s no going back, more and more institutions are investing and trading crypto. But value is about offer and demand, if users stop using bitcoins for something else, Bitecoin will plunge and another one will raise. Same for any FIAT currencies.

The only question is what will be the cruise value of a bitcoin in a few years? Nobody knows. Can’t be under production cost ($3500 to $6000 for what I’ve been told), so anywhere between $6000 and $40.000 seems a fair bet. $50.000 to $100.000 is not impossible. Nobody knows.
users wont suddenly stop using bitcoin. maybe some other better option will come along but it wont be sudden. theres nothing close yet. I think its only going up long term, its growth is pretty steady on a log scale, with bubbles between the halvenings. as far as buying in cambodia, its not a big market so the deals arent going to be as competitive. thailand is good but you would need a thai bank account. my guess is its not going to go much lower then it is today
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

Bitcoin can bottom at 5k and rebound the next month to 8k. It’s very unpredictable. Too many investors and institutions are holding wallets of thousands of bitcoins and when they move big amounts that annihilates all pronostics.
Anyway I’m totally convinced it’s not too late to invest.


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Kammekor
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Re: bitcoincambodia.com review

Post by Kammekor »

Nicolas wrote: Wed Nov 27, 2019 10:16 am
Phnom Poon wrote:only because recipients can cash it out
Yes. Crypto currencies are used as payment or money transfer. You don’t send your USD anymore, you just transfer your USD into bitcoins, transfer the bitcoins and the receiver transfer back into his own currency. All this for a ridiculously low fee.
Cash in and cash out under 20 minutes.



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USD to Bitcoin for a ridiculous low fee? I don't know any exchange charging less than 1%. Typical bank transfer fee is 0.1%. So much for the convenience of 'being your own bank'.
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