The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place. BTCUSD was trading at $8,436 last Monday and started an upturn, briefly touching the $10,000 mark – a bullish surge erasing its weekend crash. It is going up past $9,700 as of writing.
Notwithstanding the fact that Bitcoin remains a far cry from its ATH, considering the many things that transpired and still happening right now with the global economy, I would say that this is still a big good news post-halving scenario. I am sure that many of us are expecting that Bitcoin will be surging slowly beyond the $10,000 level soon. Compared to other assets, Bitcoin is doing good and I am hoping that the same direction can be true when we are heading into the end of 2020 and the coming of 2021. |
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So the saga searching for the real Satoshi Nakamoto continues...and this will never stop as long as there is Bitcoin, I guess. I am not saying that a mathematician named Glenn M. Lilly is not Satoshi Nakamoto but at the same time I, for the time being, prefer to not believe that he is. Claiming is easy these days, you just go to this forum, make an account and then, of course, make a post that you already discovered - finally! - the real guy behind the Satoshi Nakamoto mystery but proving your claim beyond reasonable doubt can be another story. In my humble opinion, I think that it is China that made Bitcoin and not USA -- of course I also don't have verifiable evidence for this claim!
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There is no question that the ongoing global battle with Covid19 pandemic is a big and long-term game-changer affecting billions of people and putting many economies upside down. Certainly, in every crisis, there are opportunities, and we can even see some advantages happening but still if we have to count and weigh the bad side of this whole thing is the one shining on. Sadly, this pandemic failed to push cryptocurrency into the front as the whole market is affected by gloom and doom blanket. Hopefully, this unforgettable episode in human history should be teaching us big and lifetime lessons and that is where the positive side of things are.
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This is actually a very famous story in the world of cryptocurrency, just below the more famous pizza story. Anyway, this is really inspiring and is sending a good message to young people: don't squander your money especially the one extended to your parents and better save then invest the money on something that can grow so well. Well, nobody can go back in time when Bitcoin is still cheap and that is why many are involved with other projects which unfortunately many can be scams or frauds. Taking the risks when done right can indeed be bringing a fortune. Aside from taking the action and choosing the right opportunity, a little amount of luck can also be another ingredient -- that situation when you are at the right place, right time and you are the right person.
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In my view, any market can be manipulated though I understand that in other markets regulations can be in place and there are many watchdogs ready to investigate and prosecute if needed. We don't have that yet in cryptocurrency although regulations in different countries are now starting to sprout. We can still consider cryptocurrency (Bitcoin and the rest of the gang) to be a baby, so we might as well expect more regulations to be drawn and implemented as years are to slowly turn. Manipulations can be so creative so there are many ways this can be done and there can be many players involved, all done with the aim of making a profit.
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This is quite funny but sad as well. Craig Wright is getting exposed to the whole world for what he is and it seems to me that the only remaining person who is in denial of who he is can be the man himself. Of course, he can always concoct many reasons and alibis for this another allegation and there might even be some loyal supporters who can continue believing his words but the whole cryptocurrency industry is very much aware that he is just another clown.
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So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later.
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There is no issue. There will always be miners. Don't forget that people were mining bitcoins when the block reward was worth less than $1. The idea that all miners will stop mining if the price is too low or the difficulty is too high is naive. No matter what the price is or what the difficulty is, some miners can make a profit and some can't. When there will be less miners then those who are left will get benefited. What is amazing here is that this can be a microcosm of the bigger business environment where the law on supply and demand are carried out. In the next many decades, I am sure that mining Bitcoin can still be profitable but of course things can be more difficult so those who are creative enough are expected to survive and flourish while those who are not can be out of business. |
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The unfortunate fact is that the European common currency, euro, has been an ill-conceived project from the beginning. If the history of previous failed currency unions teaches us one thing, it’s that you never ever establish a common currency among countries with very different cultural and political backgrounds without a Federation. It’s unfathomable that we need to learn this lesson the hard way, again! My bigger fear is they'll use this crisis to create said Federation. EU member states are currently all drawing their own plans, closing borders as they please, while EU is grasping to remain relevant. Losing euro will be expensive, but it's probably for the best in the long run. Unless you work at ECB of course, then you'll do whatever it takes to keep your job rescue the euro. in this current situation the uk will be in the most comfortable position - still holding on with some EU connections, but whole country is ready to take a break from the union like 'til the end of the year (and does not depend on euro) And in that case, Brexit can be proven to be working well for Britain as the country will not anymore be dragged by the weakness of Euro and member-countries of the Eurozone. I am seeing many bad developments within this big block of countries, and I am seeing a slow but sure strong dominance of Germany (seen as an important financial savior by eurozone countries) politically and economically. |
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It could but as we see, it's going the other way. I'm also reading some TAs that's saying the same thing but as usual, bitcoin is hard to be read so for holders like me I don't usually look to the short term. There might be an incoming dip within a few weeks but this was expected right after immediate the halving but it seems nothing has happened except it's holding on to $9300. I'm firmly holding and visioning the long term.
I have the same feeling here. I think that in the next few weeks we are going to be seeing the effects of the self-fulfilling prophecies as the market is expecting that there can be some dips post-halving. On the same vein, people are expecting that towards 2021, Bitcoin can be accelerating greatly. Bitcoin remains a very elusive type of beast, and we don't really know what can be. So we might as well sit back, relax and just enjoy the ride. |
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We all know the changes that started in the world because of the Corona virus and its risks and because of the risk of its spread, the World Health Organization asked people to stay away from the use of paper currency for a period of time in order to reduce friction between people and reduce the spread of the virus, as it asked everyone to use cryptocurrencies for a period of time Also, there are many charitable and health organizations that requested donations through the Bitcoin currency
This is what made many fraudsters take advantage of this issue, as many fraudsters asked for donations from people in the name of health and charitable organizations. Where people donate to these organizations that are fake and the money is stolen by the fraudsters Unfortunately it is difficult to follow the addresses of these fraudsters so I hope that everyone will pay attention to this matter and not donate to any organization before verifying its authenticity and credibility
As we are definitely living in a modern and online environment, we are dealing with information left and right yet unfortunately people these days can easily be swayed to open up their wallets even without verifying if the people they are dealing with can be legit or just frauds. Just one of the many obvious ironies of our times. With the use of cryptocurrency under the time of pandemic crisis, scammers and fraudsters are seeing a big opportunity to fool people around. I am sure that millions of dollars in value can be spent towards the wallets of these scammers. We should be helping people to get educated on the use of cryptocurrency and on how we can be spared from many types, forms and ways of scams. |
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Do you guys realy think a 40$ Billion Networth Guy Hold only 0.25BTC?
Well, we can take his words to be the truth, or we can speculate that he is just hiding whatever Bitcoin he is holding. In the world of business and investing, there are many ways one can own something without really technically owning it. Now, if the man is telling the truth then maybe he is not really convinced that he needs Bitcoin or as one poster here is speculating the man just does not need Bitcoin as he has many other business interests being pursued. Still, the industry and community owed this man some thanks as he is a known supporter and promoter of Bitcoin and cryptocurrency in general. |
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