Bitcoin Forum

Price remains stable on daily chart, the market seems to be preparing itself for next storm, will G20 summit be the igniter?

Bitcoin was invented to take control away from the oligarchs and their puppet politicians. But we are just doing the opposite and giving them full control. I dont get it.

I think some negative news during the meeting could push the market down. This is what I'm waiting - panic sellers to fulfill my buying orders at $6K :)

People need to rest and understand that this meeting are just meeting. Leader could agree on something, but it will take month to pass it on local level.

What do you expect from the G20 summit? Do you think that's where the bad news will come from? Calm. There will be no bad news. Everyone will agree that it is impossible to prohibit the use of bitcoins. This means that you need to make maximum use of it for your own purposes. They will agree to develop joint legislation and tax bitcoin users. Then they go back and the next summit will be to discuss what they came up with. Before the next summit will remain as it is.

It can go either way. It can go in our favor, or France and Germany "universal regulations" will be the catalyst and see the bearish trend continue up to the second quarter of the year. That's why the G20 outcome is very critical to cryptoverse. Right now its looks like the price is stuck and stalling and everyone is really waiting. I think the meeting will be held this Monday-Tuesday so by mid week we will now how things turn out. I'm still optimistic that the call for regulation is that tight as everyone is expecting. Probably just KYC/AML compliant. We still have a lot of allies like Japan and Australia in G20 so its going to be interesting as what will be the result. Let's and wait and see how it goes next week.

I don't see how. Japan and the USA are both members of the G20 and have both taken the decision to legalise bitcoin (that's why it's being traded on the American futures exchanges for example).

Some of the other countries might be anti-bitcoin (China, Russia etc) but they're not that important.

We aren't giving them the power directly but rather, some people make it look like these political events control the price since they intentionally move the market at their own will. Bears have been successful at doing that and the price have been so shaky lately which forces other traders to just take a loss instead of holding on

.

The Japs would likely promote a fair and just regulation regarding KYC and AML, and that is the main focus of the G20 summit concerning cryptocurrencies so we should be good. As for Russia and China, they still have some kind of power up their sleeve to just disregard them in the said conference.

You can't fight governments, that's it. They can do whatever they want and whenever they want, imagine, if every country would ban bitcoin, not a single store would accept bitcoin as payment method.
What a crazy scenario would that be, no one would control bitcoin but also you won't be able to spend it nowhere. ;)
More regulations and more control can only make bitcoin globally accepted as payment method, yeah, you have to pay tax, they will take their cut of the cake, but that is just how things are working in this world and you can't fight it.

Maybe there would be a discussion about crypto currencies in the G20 summit where some countries would favor the use of cryptocurrency and some would oppose like China, Russia and India. But that wouldn't be of any use, just see China and India banned crypto currencies but still a big number of people from India and China are still using cryptocurrency without any problems. No matter what happens there will be people who'll still continue using cryptocurrency.

How do you know that? Chinese government blocked the IP adresses of the exchanges. They also block VPN's so I'm not sure how someone can circumvent it? Maybe with a personalized encrypted VPN but then there's still the fact that you're doing something very illegal (2 things actually), which the government will punish hard if they'll catch you.

I hope this is positive news after the meeting, so it can get a place in every country and there is certainty the future prospects of bitcoin will improve.
I think there is nothing to worry about about the G20 meeting, they are rumored to be discussing crypto currency policy (cryptocurrency).

This can affect the price to either way, increase or decrease depends on what goes on with the actual meeting agenda. If in surprise fashion the member of attendees in G20 summit will talk about adaptation and not banning cryptocurrency then that’s a better news in favor to us. I would be surprised do. I was dreaming at this moment actually.

This is the irony of the slave mentality. People now have a tool to defend themselves about governmental / bureaucratic insanity which has a direct impact on their finances, and this tool being unrelated to that would be a safe haven, but still, they look forward to the next headlines on the newspaper to decide what to do with their BTC holdings.

But the ultimate irony is that the ones buying are governments / Wall Street as idiots panic sell on these news which they themselves generate in order to buy in cheap.

We are seeing the decapitalization of idiot's bitcoins into the hands of the smart, as they stack up on cheap coins. Remember, Bitcoin cannot save the weak, and this includes the weak handed.

Long term: 21 million, unhackable, indestructible network. We can't lose. The only losers are panic sellers on a long enough timeline.

Yea you absolutely right. But no one is giving the control of the crypto world to them. They just try to take control of the crypto.
This action is expected by nearly every crypto investor and enthusiast.

This could actually be a weapon for bears to scare panic chips out. It seems like people are putting way too much emphasis on G20. Let's cross that bridge when we get there.

Anything less than a substantial resolution would also have a less than substantial impact. I'm not worried at all. It's mostly just diplomacy stuff anyway.

There are problems at all. We can not fail to notice. Many Chinese live on the markets in Russia, in Moscow alone the Chinese more than 200,000 people. They trade in smuggling and falsification. This is a huge momentum. They used to send money through gray Bank schemes. After the appearance of bitcoins, it became easier and cheaper. They bought a lot of bitcoins. This was the situation all over the world. After Chinese banks began to fight the cryptocurrency began to drop demand.

How are we giving them full control?
Please elaborate.
Because I believe this is not the case. What politicians can do is regulate the on ramps to the crypto space. And that has already happened in most of the cases.
Any major exchange already requests at least the simplest form of verification before you can trade Bitcoin.
Furthermore how you want to control something that is decentralized? Forbid running a full node? Forbid mining? Put the publicly known Bitcoin developers into jail?
If that happens the whole world knows that these guys are just in to save their rotten system for a few more years, before it will eventually die.
Bitcoin can not be controlled. Do more research please!