Current statistics states an average of 442 users join this platform daily. And not all newbies post junk, buy since they are new to the forum (and possibly cryptocurrency) you c n assume they have limited knowledge and would learn with time. The new system means we all have to contribute qualitatively.
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There is an overwhelming support for the bitcoin ETF bill from the cryptocurrency community And considering that it would attract all forms of big players and investors and increase adoption and circulation, you can see why there is so much interest.
But what impact would it have on the long-term price and goals? And would it improve price stability?
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Bitcoin is a digital currency. Digital means it is built on an innovative technology which in this case is the block ledger system. The qualities of decentralizatiom, security, control, transparency gives it a value. And it's value is very subsceptible to market forces and factors so it has high volatility. It then can be used as an asset and a form of investment.
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I'm a student. I would have loved to study blockchain technology or forex, but they are not available in my country. So I content myself with learning on this platform and other similar ones. I would say, I'm into cryptocurrency per time. A future degree in it is not off the cards.
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Everyone is entitled to their opinions and speculations on what they think the price of bitcoin would be. This doesn't make it a fact, it's just a prediction. The price is currently rising and if it's sustained we could be launched into a bull run.
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Over the last few days Ripple (XRP) has shown steady increase. With a huge rise of about 40% earlier today, taking its growth to over 100%, and earning it the number 2 spot (top altcoin) and usurping Ethereum. But it's reign didn't last long, as Ethereum quickly Flippened it, with a growth of 17% and it's back as the top altcoin. The start of a bull run?
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The market is not recovering we have been seeing series of pumps and dumps. Such volatility is regular in cryptocurrency. There needs to be a steady, sustained growth for us to say the market is recovering. If BTC rises by, let's say 15%, this could easily cause a FOMO and would further push the price
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Regulation would have it's advantages, but I think it is outweighed by the disadvantages. We would lose the qualities of decentralizatiom and anonymity. Taxes would be imposed also. It would also reduce scams as not every guy with a PC would be able to make a digital currency.
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Some projects organizes KYC process for it's investors during it's ICOs. But once it goes I'm exchange the project can no longer control it's circulation. Some exchanges also require traders and investors to identify themselves. The main reason for this it to ensure they are not from states where cryptocurrency circulation is restricted.
A KYC process can easily be bypassed and still used for illegal activities with no trace to the actual culprit.
Crypto would evolve and adapt as time goes. KYC for all token (and coin) holders is not plausible at this time, neither is it necessary.
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The main benefit of more exchanges for me is it increases the options when arbitraging. And you can take advantage of the difference in trading volumes of a currency on the different exchanges. It also creates healthy competition as each exchange would have to upgrade and improve to keep it's traders, and investors.
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Do you mean the applicationso of the product, targeting a real world problem and aiming to solve it.
Or humanitarian services. Some philantropic gestures are some times strategic business plans. But if it positively affects the life of someone, I'm okay with it.
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The price if any digital currency can be manipulated by holders who control a large percentage of the entire volume (whales), they can lower or increase the price to suit their strategy. As a crypto inclined individual, this is not news. Play the game of the whales or you wait it out till the market becomes favourable.
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You can't expect a massive pump. Thus is an uncertain field. Traders and investors should adjust to the times and wait for a good break. It could possibly cine, but there's no guarantee.
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Agreed, bitcoin gives you total control of your assets. But switching over completely from fiat to digital currencies is not feasible at this time, as fiat is accepted everywhere, although there's the hiccup of changing your currencies when you move to another nation. Cryptocurrency is the future of transactions, but the future has not yet come.
Some cryptocurrencies also has debit cards, where you can store your assets.
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Bitcoin is not an exchange, you can invest it in it by buying, just like you can buy other currencies. Coinbase is one of the ways of acquiring bitcoin. Little advise for the road, you have probably come across it, but it's worth repeating as few people heed; 1) Don't invest more than you can afford to lose. 2) Start small 3) Consider the risk as well as the potential profits. 4) Investing in established currencies (like bitcoin) is safer than ICOs and speculations. But with more knowledge you can handle both.
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Cryptocurrency is a flexible system, whether you're trading or investing, mining or bounty hunting it can be conveniently combined with an actual job. I wouldn't advise anyone to quit either for the other.
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The bearish market provides the opportunity for traders and investors to buy currencies at a reduced rate. It's best to buy the dip, and sell the spike. Always go for top currencies in CMC, as it provides more stability.
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Bitcoin ETF would mainly increase the adoption of bitcoin, as it would be available as a traded fund and most who are wary of the volatility in the market would be able to invest in something more stable. But I personally don't see it having much of an impact on bitcoin as a digital currency. And the price
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Some exchanges use tether as a quote currency, most prefer to go with top currencies like, BTC, ETH, EOS, and it's not a must to own this currencies in order to trade what you want to, it's just what you would get after effecting an exchange.
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The market is always going through circles, and as a trader or investor you have to be flexible enough to adapt and make profits. The market today is green and it's looking promising, let's hope the growth is sustained.
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