Bitcoin Forum

Part 2. Political and Economic Trends in Favor of the Cryptocurrency Market Development

In the first part of the story we showed that the cryptocurrency market crash in 2018 and the beginning of its recovery in 2019 fit well into the general patterns of the financial bubbles’ development, and also repeat pretty well the Bitcoin dynamics of 2014-2016. But besides the analogies with other bubbles, there are a lot of other arguments in favor of the global growth of the market, among which are the political and economic trends of the recent years.

Relaxation of the Political Climate around the Cryptoassets

The entire year of 2017 has witnessed heated discussions as to the legal status of the digital assets. One of the central events of the year was their legalization in Japan in April. Precisely this legalization, according to many, spurred a dramatic growth of the cryptocurrency market in May (especially, altcoins). But the majority of other countries during this period held more skeptical positions.

The U.S. government on several occasions refused to register bitcoin-ETF - exchange-traded funds, the price of shares in which would repeat the price of BTC. The U.S. government also extremely tightened the conditions of the ICO procedure, while some countries, such as China and South Korea - have banned it completely. Certain countries, such as Indonesia and Salvador, have banned cryptocurrencies  to the extent of criminal responsibility.

A number of countries, including Russia, have adopted a cautious wait-and-see attitude, regularly promising to impose restrictions of varying severity, but not hurrying to sign it into law.

A turning point on the way to the global recognition of the cryptocurrency was the beginning of trading the Bitcoin futures at the Chicago exchanges (CME) (the world’s largest stock exchange in terms of turnover) and CBOE in December of 2017. That is when the American government admitted openly that cryptocurrencies are now to be reckoned with. With the beginning of this trade, the powerful financial circles of the USA, whose opinion cannot be ignored by the political leadership, became interested in the development of the cryptocurrency market.
https://i110.fastpic.ru/big/2019/0527/4e/551fa5835f4cc4df22568e8ac06bb04e.jpg (https://fastpic.ru/)
Chicago Mercantile Exchange, CME – the world leader in terms of trade volume

In 2018, the following paradox became obvious: even if over the longer term cryptocurrencies are dangerous for the modern political system (tied up in the central banks and the currency exchange regulation), the countries that will be the first to prohibit them will be most affected along with those countries that will simply overdo stirring up negative attitude. Those countries that will settle on legalization will benefit. The drain of brains and capitals will be directed to these countries from the more repressive or unpredictable countries. A typical example of that - Crypto Project GRAM of the Russian businessman Pavel Durov, whose ICO in 2018 reached a record amount, but it was carried out in USA, and not in the legislatively uncertain Russian Federation.

The experience of the countries that have legalized the cryptocurrencies, proved successful both from the financial standpoint, and from the perspective of the international prestige. They proved themselves to be open to the progress and new freedoms. In addition to Japan, Switzerland is especially noteworthy here, because it legalized cryptocurrencies as early as in 2016, but the most brilliantly announced about itself in 2018, when its banks began to introduce cryptocurrency services one after another. Among the innovator banks there was even a Swiss subsidiary of the Russian Savings Bank (Sberbank). The very expression “Swiss bank” became a synonym of not only high reliability, but also innovation.

A milestone event of 2018 was legalization of cryptocurrencies in Germany – the leading economy of the European Union. Rather liberal measures relative to the cryptocurrencies are being applied today in Czechia, Sweden, Canada, Denmark, Australia, Estonia, Norway, Finland, and a number of other countries.

“Legalization parade” has shown: the politicians with repressive attitudes cannot count on the global ban of the cryptocurrencies (which seemed theoretically possible in 2016-2017). Economically developed countries made an obvious choice: “if you cannot stop the process – become its leader”. And precisely in these countries the maximum capitals are being circulated, and the market situation depends precisely on their business activity.

Explosive Growth of the Retail Use of Cryptocurrencies

Despite obvious popularization of cryptocurrencies, there is still a myth that they are purely investment and speculative instrument, which, even if used as a payment method – only in the dark net, and as a means of payment for illegal commodities. But this is not the case today. As far back as 2013-2015, legal services accepting bitcoin emerged, and in 2016-2018 their market has undergone explosive growth.

The pioneers of the cryptocurrency market of goods and services in 2013, were, for example, Virgin Galactic – space tourism company, Victoria’s Secret lingerie company, Shopify - a supplier of software for the online stores. In 2014, the cryptocurrency was adopted by the Overstock online store, Expedia tourism service, Zynga – operator of the online games, the software monster Microsoft and many others. Some of these companies considerably went up due to the innovations: for example, the shares of Shopify and Overstock have increased in price several-fold since then.

As of today, the cryptocurrency is accepted by hundreds of large companies and thousands of small ones, while the range of their products is approaching the one in a traditional economy. The most popular categories of the goods for the cryptocurrency in the large famous companies are tourism and air tickets  (Expedia), software and games (Microsoft, Shopify, Zynga, Steam), clothing and other consumer goods (Victoria’s Secret, Overstock.com, Rakuten), as well as food products (Subway, KFC, Burger King – in Russia). As an example, Playboy erotic products, premium accounts of the 4chan.org and reddit.com forums, Bloomberg.com business news, automobiles in the Czech show room Alza and many other goods can be also purchased for cryptocurrency.

A number of well-known companies, although they prefer traditional payments, nevertheless allow crypto payments through the intermediary services, such as gyft.com (trading with the card Gyft for BTC). For example, Ebay online store, Wallmart supermarket chain, Starbucks restaurants, Uber taxi service, etc. The turnover of gyft.com is evaluated in the amount of 25 million dollars with only 38 employees.

Small start-up companies often use ready-made multicurrency gateways such as coinpayments.net. It supports dozens of currencies, and hosts about 400 companies. In addition to mainstream, it contains a lot of specialized commodities. For example, crypto-armory.com sells cartridges, francvila.com – Swiss watches, directvoltage.com - 3D-printers, electric motors, CNC machines, etc. Some new stores not only accept cryptocurrencies, but also purposely give up fiat currency. For example, crypto-armory.com, explaining their refusal from fiat currency, state both ideological, and narrow pragmatic reasons. In the opinion of the owners of the store, it is easier to accept cryptocurrency payments both technically and legally.
https://i110.fastpic.ru/big/2019/0527/5b/d5f8f90dbe762f29530618b5bebf7b5b.jpeg (https://fastpic.ru/)
Cartridges from the cryptocurrency store crypto-armory.com

An important trend of 2017-2018, in addition to the general growth of the commodity market - re-orientation of the stores to the multi-currency payments. Whereas previously most of them accepted only BTC, now a sign of good manners is to accept also LTC, ETH, XMR and at least several more currencies.

Thus, while the politicians were solving the problem in the manner “not possible to allow - disallow”, a vast market of commodities for cryptocurrency spontaneously emerged on the Internet. Some of its participants have multibillion capitalizations. This market is very international. The majority of commodities and services can be bought even from Russia and other countries, where cryptocurrency is not legal as an internal payment instrument, but is not prohibited as such. Today, it is hard to imagine a consumer good, which cannot be bought for cryptocurrency.

The Latest Trend – Support of Cryptocurrencies by Smartphones

The first smartphone with a cryptocurrency wallet was  HYPERLINK "https://bitcryptonews.ru/blogs/sravnenie-blokchejn-smartfonov-exodus-1-i-finney"HTC Exodus 1, released in the autumn of 2018. Then, a crypto smartphone  HYPERLINK  emerged "https://bitcryptonews.ru/blogs/obzor-kriptosmartfona-finney"Finney. And in March of 2019, the baton was unexpectedly picked up by the smartphone from the major South Korean company, Samsung - Galaxy S10. And although Samsung refrained from the direct embedding of the cryptocurrency wallet into the standard supply set, a brand wallet of Samsung can be installed from the Galaxy Store.
https://i109.fastpic.ru/big/2019/0527/3e/d73a5044c42560e2385123127764163e.jpeg (https://fastpic.ru/)
Galaxy S10 – the first smartphone from Samsung with cryptocurrency support

On the part of crypto enthusiasts, there are a number of claims to Samsung initiative, among which – the lack of bitcoin support (BTC). At the moment, Samsung Blockchain Wallet supports only Ethereum (ETH) and ERC-20 standard currencies and tokens created on its basis:
Basic Attention Token (BAT), Chainlink (LINK), BinanceCoin (BNB), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and others.

Anyway, from a political and PR perspective, the emergence of Galaxy S10 is a great event.

First of all, smartphone can attract to the cryptocurrency market new people who have greater confidence in the famous brand, than in the traditional bulky cryptocurrency wallets. Now, many people are frightened away from the cryptocurrencies only by technical difficulties, whereas smartphones on many occasions have proved their ability to promote to the masses those things, which previously seemed to be very complex.

Secondly, this step of Samsung is a clear signal both to the domestic and foreign governments: big business is on the side of the new technologies. South Korea has a reputation of a country not very friendly to cryptocurrencies, however, its business giant publicly demonstrated another attitude.

Thirdly, the initiative of Samsung with a high degree of probability will be emulated by other leading producers of communication devices. Thus, shortly after the release of Galaxy S10, there appeared a news that a cryptocurrency wallet will soon be available in iOS Opera Touch, which means that cryptocurrencies can be also stored in iPhone of Apple.

All this creates excellent prerequisites both for the world legalization of the cryptocurrencies, and for the growth of the market due to the increase of the number of users.

Conclusion  

Thus, despite the “roller coaster” of the cryptocurrency exchange rates, some fundamental processes have developed steadily in the same direction in the recent years: expansion of the commodity market for cryptocurrency, increase in the number of countries with a liberal attitude to cryptocurrencies, adoption of cryptocurrencies as a strategic technology by more and more industrial giants. The total number of individuals who tried to work with the cryptocurrencies grows steadily, while the new technological trends (in particular, crypto smartphones), can additionally accelerate this growth.

The only thing that can seriously damage a cryptocurrency market is its global ban, but it seems to be unlikely. Right now there are about 40 million bitcoin wallets on earth. It is believed that on average their number is doubled annually, which means that within 5 years it can reach a billion. And if now a global ban on cryptocurrencies is unrealistic due to their profitability for the developed countries, by that time their prohibition will become impossible almost physically.

In the first part of the story we had put forward the arguments as to why the investors need not fear the bubble of 2017-2018: in the end, the bubble showed not so much the riskiness of the crypto investments, but rather their long-term prospects. Today we described political and economic events, which have occurred in parallel “behind the scenes”, and in which there were no “drops” – only progressive development toward the construction of the crypto economy. And in the next, third part, we will try to describe in detail specific financial reasons of the collapse and recovery of the market in 2018-2019.

Analytical department, Trident company, Victor Argonov, Candidate of Physical and Mathematical Sciences.
Source:
http://trident-germes.com/

Part 1. Bubbles as a scarecrow for newcomers:  https://bitcointalk.org/index.php?topic=5139814.msg50917894#msg50917894

I can't understand that this is your first post in here. And this is part 2! Where is part 1 then? I think you should mention it.

So most of telling us to is right. But I can't understand also link that you gave us below this article. What is the point?

Honestly, I am not interested in reading such a long wall of text which is why you should have made it shorter and organized it in a better manner. I got the gist of what you are trying to say here and it is quite obvious that crypto is alive and kicking despite the FUD that says otherwise.

Crypto is here to stay no matter what anyone thinks about it.

You have posted a long yet informative topic but this information doesn't fit the title because as what you have written, there are lots of developments and changes in crypto.
Massive adoption is what we really need but Cryptocurrency is working and it would never die that easy.

Next time if you want to make a topic I suggest you to summarize it first then include the link and then you can make a conclusion, that kind of long blocks of messages most of the time will not read by others.

Too long to read however judging by your title: I believe that what we really need is mass adoption just like Genemind says.
Next time if you can organize the text Headlines it will be much easier to read. Font size too playing a big part.

It's time-consuming if we would read the whole content. They're right, you should have made it shorter where we will be able to understand it better. Just an answer to the title, cryptocurrency is active and progressive so you already know the answer.

Its impossible that cryptocurrency will die maybe on other countries crypto is banned look at the market there are more people are coming the volume is increasing just like what happen last year and I think we will see the price increase more than 20k value.

If crypto will die the price of bitcoin should be decrease and drop but the price movement is increasing and more people are interested.

This is very long post. But I can answer your question straight. Crypto is still alive and already rising. All we see the number of investors everyday and the number of merchant who are already accepting crypto especially bitcoin as a payment. And I know time will come that crypto will embrace all over the world as a payment system and as a alternative fiat digital money.

here is part 1:

Cryptocurrency: lives or dies? Part 1 (https://bitcointalk.org/index.php?topic=5139814.msg50917894#msg50917894)

---

I do not see why we would still have to question if bitcoin is alive or not. every day has news about bitcoin and thousands of people know and use bitcoin

Bloomberg Report: Fidelity Will Start Institutional Bitcoin Trading Within Weeks (https://cointelegraph.com/news/bloomberg-report-fidelity-will-start-institutional-bitcoin-trading-within-weeks)

68% of Global Millionaires Already Invested or Plan to Invest in Crypto by 2022: Survey (https://cointelegraph.com/news/68-of-global-millionaires-already-invested-or-plan-to-invest-in-crypto-by-2022-survey)

It is evident that the cryptocurrency will live long, and partly, it can really replace cash. Crypto will not die, but shitcoins will do it, and it will be good for the market as the better alts will appear.

The good crypto will not die, that is for sure.
The shitcoin will die so fast without any chance to survive.
The investor will join in the cryptocurrency especially if they care about the new technology which the cryptocurrency offers.
They will follow the journey, and they will take part in the cryptocurrency before the mass adoption happening.
And once the adoption process continues to attract more people, the cryptocurrency will grow fast and in that time, we will see more country will accepting cryptocurrency.
But that still on the prediction and we don't know the truth.

I think it's quite obvious that the whole market of crypocurrencies is still alive. I would say even more - to me, market of cryptocurrencies is still developing.  You can observe how Bitcoin is acting right now, traders are quite satisfied with its growth. And apart form Bitcoin, there are also some altcoins which are expanding nowadays and which offer more and more innovative solutions.  For example, FuturoCoin is still improving its masternode system.

While I don't see something wrong if one can be viewing cryptocurrency as an investment or a tool of speculation just like what many are doing with the physical gold, we are really longing for massive adoption and the process could be hasten if people will start to look the other side of cryptocurrency: that being a currency that can be used daily to buy anything online or even offline. We need more merchants to accept cryptocurrency and we need more buyers to use it so that there would be an exciting, pulsating and expanding business environment everybody can participate with. I am sure that Bitcoin is here to stay and will be evolving as I believe that its relatively short 10 years in history is just a foretaste of things to come.

I have to agree with you. I scroll past his post and directly looked at the replies. Which reminds me of why did this guy posted a part two when u haven't seen part one.

He also posted the part 1 and you can see it here : https://bitcointalk.org/index.php?topic=5139814.msg50917894#msg50917894
Regarding to his post, it's a lot of information put together that makes no sense and anyway most of the guys around here didn't read even half of it. I don't understand what's he trying to achieve with his topics because we all know cryptocurrency is alive and it's evolving pretty fast.

Its really interesting that you have made a long post where you have described a lot of things which are tge part of crypto currency development. Honestly its really time cosuming to read a post like that although i always try to read quality post if that is long or short.

From my own point opinion there is no chances of crypto dying rather than improving in a large scale. Its just matter of time when full world will accept crypto currency as a basic need.     

I doubt that cryptocurrencies will I disappear. Technology is moving forward also awareness about crypto among people is rising. The market is bigger and bigger, there is more places and websites where crypto payments are accepted, I think this is just a begging but the time is needed.

I agree that is just a beginning of cryptocurrencies market, there are a lot of altcoins with huge potential, not only the most powerful ones like XRP, EOS or Litecoin but also some less well-known like FuturoCoin or DEX.

I don't know what is OP's definition of Dying.  As of now, Bitcoin is thriving!  There are lots of merchants getting attracted to it and financial institutions are beginning to move to the "blockchain technology"  and investment company saw Bitcoin as a profitable venture because of its volatility.  So more and more audience is being attracted by Bitcoin not only in a certain part of the world but rather around the globe.  Even developing country wanted to participate in this revolutionary event.

I cannot disagree that this market is still developing. Many of cryptos are still quite promising. Also, more and more people decide to invest in some cryptocurrencies (like for example me - I started 3 months ago). And yes, current Bitcoin's situation is really positive. I hope that bitcoin will be 10k by the end of this year.
According to the FuturoCoin masternode system - they said it will start in july.

They've already announced something important about masternodes system. Here is more info: https://www.facebook.com/FuturoCoin/photos/a.1628273980592551/2228358900584053/?type=3&theater

For the record cryptocurency is just starting many institutions are begining to adopt crypto currency and the technology behind it. Just this year we have seen major adoption from Samsung,  canada tax payment and Amazon.  And many more are still realising the importance of crypto

It's really time consuming reading this long post but assessing from the title of the post, crypto currency will not die in a hurry. It's only the useless coins with lazy and fraudulent team members that will have their project dead and buried. For the strong coins with active and unrelenting team members they will still remain while other projects keeps emerging. Crypto Continues.

You're right. We take into account your comments
Part 1. Bubbles as a scarecrow for newcomers:  https://bitcointalk.org/index.php?topic=5139814.msg50917894#msg50917894

Thanks for your feedback. We will take into account all your wishes.

Sincerely, Trident Germes Company

The title is asking if it is alive or dying and actually not making statement of fact...this is one way to generate eyeballs like a bait for us to check the post. So inside the long post we are enthralled with the many developments both good and sometimes bad concerning bitcoin and the rest of cryptocurrency. One of the watershed of this movement is when Japan recognized or legalized bitcoin which opened many avenues for the cryptocurrency market. Right now, the way the market is making good traction in many countries (though many are still not joining the frenzy), we can easily conclude that cryptocurrency is here to stay and will be evolving as years go by. There will be more big players in this industry just like what Facebook just announced. Things are getting exciting and it is good to be a part of the history of this game-changing ecosystem.

Thanks for your feedback. We will take into account your wishes in the following articles.

Sincerely, Trident Germes Company

Lazy to read the whole page so i will just deduce from the tittle of the post which to me says it all and my observation on the crypto space, although i don't know the @op perception of cryptocurrency alive or dying, but from what i can see in the crypto space, i would say crypto is far from dying, it is more alive than dying imo, i don't see any sign of dying, i mean you don't need a special kind of talent to know that ;D
what am seeing is more adoption coming, soon every part of the world will feel the presence of crypto ;D

Thank you for your positive feedback.
In the future, we will write and publish many more interesting and useful articles. We hope you enjoy our new articles.

Sincerely, Trident Germes Company
http://trident-germes.com/

Thank you for your attention to our publication.

Sincerely, Trident Germes Company

Hello!
I completely agree with you on the issue of cryptocurrency.
I will also consider your wishes when writing the following articles.

Sincerely, Victor Trident Germes Company

Hello!
 
Thank you for your attention to our publication.
You are absolutely right, make the right conclusions, and I agree with you.

Sincerely, Victor, Trident Germes Company

That's right bro it's so boring reading long text I suggest to the OP to summarize the thread easy and understand without hassle.
By the way my opinion about crypto still alive or dying is nothing doubt is still alive and I  believe crypto still continues to progress until new technology is running to improve and people support is a big factors.

Cryptocurrency is alive and will always be alive. In the beginning of the year, when the bear market was around, a lot of people thought crypto will never recover again, but here it is, it has recovered fully. Crypto will not die.

Bitcoin will not die and can still survive in the long term, bitcoin is volatile and can experience price declines but it is not the end of bitcoin. I believe in the future there will be many companies that use bitcoin and with that bitcoin will get stronger.

      Exactly, He must summarize his article although we can put a link but the text posted should be short and understandable then back to the topic for me crypto currency is alive as it proves by its price was moving upward besides of other projects using crypto like altcoin are dying but totally the industry were going stronger especially in gambling community.

Yes. Bitcoin is not dying in the first place. In fact, it has gained a great momentum with its present market condition and for sure, it's price will grow even more in the coming years. More merchants are now showing interest on bitcoin and with its mass adoption in the future, establishments around the world will definitely support bitcoin already.

we are only in the beginning of the beginning, ask smart economist how much time things like this take he will answer you,

in 11 years its to much fast even impossible, did you saw somestartup even try to compete usd and euro and other paper money....

the last startup was paper money until thispoint no body even think about this because its simple impossible and if yes it will take years upon years to get small value * ask some smart economist post the answer hear....

so in 11 years its to much fast,,relative to the idea and with what you compete...

who think he lost the train of bitcoin, really dont understand this industry...

Hello!
Thank you for your attention to our publication. I agree with your opinion.

In the following articles we will take into account your comments.

Hello!

Thanks for the comment.

You absolutely correctly assess the situation on the crypto-market.

Sincerely, Victor, Trident Germes Company

Hello!

Thank you for your attention to our publication.
We will take into account your wishes when writing the following articles.

Sincerely, Trident Germes team