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Many people no longer believe in fiat money and the traditional financial system when a pandemic occurs.
Bitcoin and cryptocurrencies are becoming strong trends in the world economy with more adoption from financial institutions, means of payment, and major banks.
The capitalization of the crypto market has already reached $ 2000 billion and it will continue to increase over time.
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Bitcoin is being advertised for free on TV for a long time. First, they release the information because Bitcoin's fluctuations in value are big risks. Next, they condemn multi-level projects that use Bitcoin, causing many people to lose money. And now they are reporting on financial institutions, means of payment, and banks accepting Bitcoin in their systems. Bitcoin is added to financial news because of its volatility in value.
It can be seen that Bitcoin has gone from an anonymous asset to a widely accepted mainstream one as we are seeing. That success is due to the free TV promotion.
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The national cryptocurrency will apply blockchain to governance. They only reduce the burden on banks when people can transact without a bank intermediary. I think the chain of pre-CBDCs will be a centralized one. State banks will play a dominant role as well as create value for their money.
Bitcoin is decentralized and has a scarcity determined by the algorithm and the needs of organizations and individuals around the world. That makes the value of Bitcoin constantly increase over time. People love Bitcoin and want to keep Bitcoin.
Bitcoin is truly a store of value and a symbol of freedom around the world.
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Bitcoin is a safe place to keep wealth for two reasons. Bitcoin is becoming the world's new store of value with the acceptance of many financial institutions around the world. You are the one directly managing your Bitcoin and only you will know the password to unlock your bitcoin wallet.
The risk when you put your assets into Bitcoin is that Bitcoin's volatility is greater than other assets. If you buy Bitcoin at the top of the bear market, it will take a few years for Bitcoin's value to recover.
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If you invested in 2010 and did not sell Bitcoin until today, each person will profit more than 60,000 times in value if you take Bitcoin $ 1.
It was very difficult to buy Bitcoin with better value because Bitcoin was very little known at the time.
The most important thing to keep Bitcoin for so long and sell them by 2021 is do they still remember their Bitcoin wallet password or recovery phrase?
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Stablecoin has the original standard from fiat currency placed in banks, typically USDT, BUSD, TUSD, USDC then to protocols from crypto institutions. If taking stablecoins instead of FIAT, that doesn't seem right. We still don't have a worldwide crypto adoption so it's not a matter of Stablecoins replacing FIAT. Governments must never let cryptocurrency replace the national currency they create.
I think that stable coins like USDT, BUSD, TUSD, USDC has already replaced the USD as in the exchanges we use these stable coins and not the USD itself. In the future, there will be no USDT or USD and money will be measured in bitcoin only. They have to be measured by other commodity standards, Bitcoin is only part of that. The world has printed too much money and ignored standards. Historically we've had 2 dollars printed on the gold standard and they don't last long. |
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Stablecoin has the original standard from fiat currency placed in banks, typically USDT, BUSD, TUSD, USDC then to protocols from crypto institutions. If taking stablecoins instead of FIAT, that doesn't seem right. We still don't have a worldwide crypto adoption so it's not a matter of Stablecoins replacing FIAT. Governments must never let cryptocurrency replace the national currency they create.
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It's pretty interesting with something not happening right now. You used the word "If", we don't need to imagine that scenario happening because it certainly won't. There are many reasons for Bitcoin's difficulty accepting Bitcoin, such as:
The cost is too high and won't be applicable worldwide on a regular basis.
Major nations will accept Bitcoin as assets and will not see them as a replacement for their national currency.
Small countries won't accept Bitcoin's regular presence as they take away a significant amount of revenue from their service provision.
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A transaction fee of $ 16 is too much and is not suitable, so just viewing Bitcoin as a store of value is enough. Bitcoin adoption can be regular if we wrap Bitcoin on another blockchain with higher speed, cheaper transaction costs. There are some suggestions like Binance smart chain, TRONIX, SOLANA ...
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I would say that the chance of DOGE reaching 1 $ is not happening as it has increased so many times. Bitcoin is falling and all altcoins are falling. That is the law of the market. I find not selling at $ 0.47 is a common mistake in newcomers. If you sell at $ 0.47 and turn all the money into profits from DOGE x2.2 then it will be easier than waiting for DOGE to reach $ 1.
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Governments must have the power to make their own currency and run their own economies on their own terms. Bitcoin, the cryptocurrency, naturally went along and served the people. People want to use cryptocurrencies because they do not believe in the leadership of the government. That is the weakness in the management mechanism of Venezuela.
Bitcoin is really undermining this country because the money flows away from the banks. The government will not receive any tax or service fees.
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In terms of enterprise technology, it is better than DOGE and XVG, but in terms of community, it cannot compare with. DOGE and XVG thanks to the support of the community. It is an opportunity for these two cryptocurrencies to increase in price regularly and have good trading volume. XDN is still a coin that grows in silence and in my opinion its potential exists. Buying some now can also be a rich opportunity for the next few months when this bull run is not long in its infancy.
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We cannot change the laws of the economy. We can only explore them and find ways to benefit from the economy in the new situation. Finding ways to increase income with a variety of jobs or to be good at speculative wealth transfers for trading income is the best learning we can take.
It is because of the thoughtless conservatism to find new things that have made the previous generation poor. We have the internet, we can use it to get more information and more income.
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New projects have the potential to bring high returns to investors but what they all have in common is that it is difficult to enter the ICO phase. If you are a long-term investor think about old projects that have not increased in price or old projects that are actively developing and not listed on major exchanges.
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An individual simply buys 8000BTC. This is just too much for a person. I think a certain investment fund bought such a large amount in time to reduce the price of Bitcoin. I believe they were team-operated, had a group of Bitcoin sellers and a group that bought Bitcoin to benefit from the difference.
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Bitcoin is becoming a force that transcends crypto limits and becomes a store of value in the world. No matter how developed altcoins are, it is still difficult to replace Bitcoin for many reasons.
I can list a few characteristics such as Decentralization, the scarcity over time-based on the mining algorithm, worldwide acceptance, the anonymity of the founder that creates a solid trust.
Altcoins can surpass Bitcoin in terms of technology, but will not change people's views on Bitcoin. That is the reason why no crypto has surpassed Bitcoin in value for many years.
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The virus has drained the world economy. Even vaccines cannot contain disease well because the variants have evolved into other forms. I found that European and American countries are less capable of controlling the disease than Asia, although Asia has a higher population density and is underdeveloped in terms of economy and technology.
Asian countries have adopted technology to control the disease through the use of mobile apps, camera systems, and tracking of infected people combined with isolating infected people.
Countries need to take action to end the epidemic to get economic activity back to normal.
Cash flow is freer now because they are unable to invest in real business due to the epidemic. Cryptocurrencies will be a more vibrant and accessible environment than stocks or Forex.
Well, the government is responsible for making any action to prevent the virus but the fact is that the people do not want to give up their freedom to stop the virus. So the awareness of the citizen is also very important. Low education, delusion, or arrogance can make a disciplined country on a verge of an outbreak. For instance, India (an Asian country of course) is suffering the biggest contamination ever since the beginning of the pandemic because of the false belief that they have reached "Herd immunity". People do not want to skip any religious activities, and the latest Hindu festival causes thousands of new cases. Actually, you can easily access any broker or exchange during the epidemic. There is no boundary or prevention. I've been trading both forex and crypto for many years, even when covid 19 appeared. People are always stubborn with their ideas when they put too much faith in religion. They paid the price for their behavior during the pandemic. If you say that a low level of education causes the disease to spread more quickly, then you are wrong. Many highly educated people still make mistakes and act incorrectly. It can be said that a pandemic has shown how people in all nations are acting. I've seen Americans struggle not to wear masks. hmm ... The epidemic creates conditions and opportunities for people to buy property at good prices, but in general, few people do so because they have to take care of their lives and families. Making a deal in person and at home crypto or stock or forex manager seems easier. |
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Bitcoin is a store of value and a good haven during times of economic downturn. Time has answered your question. Bitcoin has increased in price from $ 4,000 to $ 60000 in a year, a profit of 3000%. There is no such thing as an asset that can grow that fast.
I believe that the pandemic will continue, the economic slowdown is still going on with the epidemic. So in the past 1 year, investment funds, businesses and people have used their spare money to go into Crypto more often.
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With the current increase in the value of Bitcoin, the profit they bring is many times greater than the cost. They just need to sell the Bitcoins they have hoarded to keep the farm running. Big investment funds and businesses like Paypal and banks have joined in, so the price hike will last longer. Miners stop selling Bitcoin is a predictable act. They are following the trend very well.
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The virus has drained the world economy. Even vaccines cannot contain disease well because the variants have evolved into other forms. I found that European and American countries are less capable of controlling the disease than Asia, although Asia has a higher population density and is underdeveloped in terms of economy and technology.
Asian countries have adopted technology to control the disease through the use of mobile apps, camera systems, and tracking of infected people combined with isolating infected people.
Countries need to take action to end the epidemic to get economic activity back to normal.
Cash flow is freer now because they are unable to invest in real business due to the epidemic. Cryptocurrencies will be a more vibrant and accessible environment than stocks or Forex.
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