Is it worth doing bitcoin business now? | Razer Insider

Is it worth doing bitcoin business now?

With this coronavirus situation.

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12 Replies

Userlevel 2
I think this is still relevant. This way you can give it a lot of time
risky, but u can try it.
Userlevel 7
Profitable yes, but cost of every thing from hardware preps and electricity? there are more losses than gains
And bitcoin prices have just gone down again :mad_::mad_::mad_::mad_:
Recently, the bitcoin rate has just impressed me. more than 20 thousand dollars! I wonder who will buy bitcoin for this price?
Userlevel 7
In my opinion, now is not the best time to invest in cryptocurrencies, namely in bitcoin due to its high price, but I believe that it will periodically and after that will decrease in price. The best time to start a business with bitcoin is when it falls in price, because after statistics and after the practice of previous years, bitcoin always rises at high prices, and after that it falls. This time, because Elon Musk invested a large amount of money, bitcoin has reached a very high price, but in my opinion, this is something temporary.

hit the spot, elon musk mention about dodge on twitter and probably u guys know that already.atm dodge around 50 cent. its good to put money on it. 10 years from now cyrpto predicted will be major trading transaction and one of them will be dodge
Userlevel 7
If we talk about bitcoin mining, then it is not profitable. You can only earn money from mining if you have free electricity (very cheap). Now the price of bitcoin is 57K, but we all know how volatile this coin is and how quickly it can lose its value. I prefer more stable currencies like HLM - Stellar. The coin has good growth potential and low value (at the moment). I think now is the best time to buy it. I advise you to read more information about Stellar and see for yourself.

thumbs up !
thanks for the info mate.
Userlevel 7
you'll never know for sure

but you will know when to sell it 😃
I'm not passing judgement on Bitcoin in any way, but your flippant response doesn't support your case.
When you "zoom out" and look at the past of bitcoin, you'll find that the last time it rose so fast, it collapsed almost instantly. You can't look at a "long term pattern" of something that hasn't been around for very long, let alone something entirely new with no real analogue. I also take advice from a business expert before investing in Bitcoin. You can't equate this to anything like the S&P 500, or even commodities like gold or currencies. For bitcoin, looking at patterns is futile.
Well it's risky but i think you need to do an in-depth assessment and research on this one because we're talking about money here. So it would be nice if you're knowledgeable about it not just the process but also the pros and the cons. Stay safe everyone!
Bitcoin should be treated as a high risk investment. It is extremely volatile. But one thing to minimize the risk is to buy it at low price and sell it at a higher price.
Userlevel 2
Bitcoin is the best performing asset as of the meantime, however, it is too risky, volatile and has a limited use only. If I will invest my money, then maybe I should need first to do more research about it and study all the disadvantages as well for me to be prepared if something not good to happen.
I would say its a little risky, but if you do risk there will be a chance of getting a reward back. So if you want to risk some money go ahead try it, just before you do it just study bitcoin for a little.