Bitcoin Forum

Something tells me that the mass exodus of money from banks will not affect the economy in the best way.

all of it is predictions... i guess we couldn't know future

People should get wallet not specifically to blockchain but with a certain wallet that supports the crypto that they want to use. People won't abandon the banks, honestly, we still need it as they're also part of the economy.

And they play a big role in our economy.

About bitcoin as a good investment, yes it's true, there's no need for any argument with that.

so far so good, but not really bullish. however, hopefully we can get another major price increase after all this pandemic comes to an end.

COVID-19 is currently an ongoing Pandemic. In other words, depending on how you perceive what this Pandemic could do to affect you and the world around you, that I believe is how you'll view what's going to happen eventually.



No, because it would only create bank runs that will affect the local market economy of any particular country. Also, the blockchain is an alternative right now and as long as the whole world isn't going totally digital and cashless, cash payments are still going to be the grassroots norm for the rest of the people in the world.



Any worldwide event may affect either the local or international economies of each country, and it simply depends on how each country reacts positively or negatively to such events instead.



Bitcoin is always a good investment, if you could afford to, of course. ;D

Bitcoin is NOT a good investment for several reasons. But the BIGGEST is that you won't be able to cash it out if it ever goes anywhere. Why not? The miners will raise the fee so high that:
1. It won't go anywhere in the first place... but if it does;
2. It won't pay to cash it out.

8)

For better i guess because the world now are looking for option while other countries are continuously printing Paper money to cover the losses.

I always believe that Cryptocurrency and banks can co-exist for the betterment of society, there are sectors that only banks can provide and there are sectors that Cryptocurrency is a big use, if you want your money in Cryptocurrency that is fine but abandoning it totally is not good.

If we are going to look at the TA of bitcoin there's a big possibility there's coming of little pump this year. A big market volume is one good sign of growing chances of btc price going up this year.

I suggest you not use a wallet based on the website because you need time to log in on your account, and you can not monitor all of your assets. You should install the wallet on your computer, laptop, or mobile phone. But the recommended wallet will be hardware that can store all of your coins in one wallet, so when something wrong with your laptop, you don't have to worry.

These events make people panic to have money, and some of them who have an asset in crypto is selling some coins and convert it into fiat. They really need money to survive, and maybe that is why the market is down for some months. But I admitted that bitcoin is still a good investment now and later, so you can still buy bitcoin at a price now. You can wait for more to buy bitcoin at a low price.

Exactly, its up to our own discretion how to use crypto and fiat.

It has their own benefit so its better to use both because each has uses that one of them cant do.

I believe yes because im a user and investor for years already. If you are newbie and had the chance to learn deeper about bitcoin you'll understand why.

I think now's a really blast to take a position in Bitcoin albeit the worth of Bitcoin goes down it'll go up again Bitcoin can go up tons within the future Both currencies are good but in Fiat's case it's impossible to form much profit. The Fiat currency is totally controlled by the govt so its price is within the hands of the govt Bitcoin may be an excellent currency and nobody can control it so bitcoin investments are more profitable.

Every year that passes bitcoin is growing.
The community is being more solid and the price is growing as well. This has a result in better supports in the trading charts and people start to believe more that bitcoin is going to be the next global economic system in the world.

Bitcoin will never grow really big. Why not? Because the Devs and major Miners will see to it that the Miners' fees will grow so big that they will stifle the transfers if it looks like Bitcoin is going to $20,000 or more.

Why will the Devs and the Miners do this? Because of the fear that Government will take them to court for messing with the money system.

How would they be messing with the money system? By making Bitcoin hodlers rich, thereby transferring the wealth to a different set of people than has it now. That's why the Devs and the Miners need to make their fees high to keep the Bitcoin price low.

People need to start moving their Bitcoins to altcoins that don't have a miner fee problem.

8)

Yes you are right,banks help the economy
after all, it doesn't affect us if we know how to secure investment


last months the total number of daily minable bitcoin fell by half, do you see a good thing for investors?

Hence, the miners = crypto mafia ???  And we're not even talking about the whales yet!:o

why mafia? after all, that's the technology...

At first I would like to say to the OP that yes the bitcoin price will surely go up_{(But do not take my words for your investments if you are going to invest)}


Of course, Covid-19 is making people to stay away from hard cash and making people to use bank transfers and other digital payments, So mark my words many currencies are about to go up.


Banks cannot be abandonment its our part of life we cannot just ditch our banks for blockchain wallets.


Yes these events will obviously help bitcoins price go up if not much but surely a little but it will give a bump to the price.

For me NO the investment for bitcoin is not good at the moment there are many other coins which can give a lot good investment.


TEX-LXRY

I think bitcoin is a pretty good investment for now because COVID 19th all everyone should avoid transactions in cash to better use like bitcoin digital currency for payment processing to avoid coronavirus from being exposed to this virus.

We should mind ourselves if it's related to investments because they or they cannot help us in their own ways.

As for the halving, I'd say it's a yes. Think of how bitcoin is becoming rarer these upcoming years.

Even if bitcoin is a good investment, people worry about the price, which is too volatile, and if they don't learn more about bitcoin, they will get a heart attack every day. But people can still use transactions in cash while they now have another option to have investment, and bitcoin can give them additional profit. That will depend on people themselves, whether they want to use bitcoin for the investment or not, but they need to research before they decide to buy bitcoin.

Here OP if you wanna believe bitcoin is a good investment and profitable currency then never mind crush drop price. Because bitcoin price never stable and we couldn't know the future movement. Every year we can see bitcoin price much to volatile like you should back 2017 last and after 2018 chart. Therefore i would like to say first thinking never invest in bitcoin without your own skills.

aha nice opinion

Yeah thats the main reason a lot of people think crypto is some sort of scam - you can gain a lot of money, you can lose same amount.
But basically its like hardcore mode of stonks trading, less predictable and less known

Traders are frustrated with the increase in bitcoin prices this year Because the worth is ever rising and falling again nobody can determine exactly what proportion bitcoin will actually pump But most are hoping prices will pump up tons by the top of this year. Bitcoin may be an excellent currency to take a position in but before investing we'd like to see the market well and invest in it the danger is going to be less.

If Bitcoin is no longer trustworthy, then there is no need for digital currency. Bitcoin now affects many aspects, such as the economy and energy exchange. 9000U of Bitcoin is not the end, there are more possibilities in the future.

The consolidation of the bitcoin mining businesses would prove that the halving is really the survival of the fittest between bitcoin miners, in order to ensure that its value would truly appreciate over time due to the eventual scarcity of bitcoin as time passes by.

It's kind of a cycle. Currently, we're experiencing a downfall, sooner or later there'll be another hype peak. Just wait for it.

Bitcoin will Grow maybe not totally this year but next year thats for sure.

That is exactly what we need.