Why has Bitcoin suddenly jumped above $30,000? - 06/21/23
During the past week, there have been several noteworthy developments, that have had significant impact on market, and led to notable shift of market sentiment from negative to positive.This series of important events including submission of ETF application by Black Dock and decision of Hong Kong government to permit establishment of crypto exchanges. These positive developments have played key role in generating a significant increase of around $4000 increase in Bitcoin price within few days. |
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Hello everyone, I have a new question,
In your opinion, is it worth attending blockchain events?
Attending block chain events can be beneficial in many ways, such as acquiring knowledge about an emerging technology, interactions with professionals of industry, and gaining awareness about investment opportunities. However, decision to participate in these events depends on personnel interest and alignment with your business objectives. I always welcome such opportunities and encourage all crypto enthusiasts to seize them without hesitation. |
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Indeed, Bali is a tourist attraction, renown for it natural beauty, stunning beaches, rich cultural heritage and friendly people. I have never visited but would love to go there whenever I get the opportunity to experience its wonders. It is unfotunate that Bitcoin is not accepted there as method payment. However. I would encourage you to unite and amplify your voices on social media, urging government officials to recognize advantages of embracing Bitcoin as payment system and consider regulating it in your country. |
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Bitcoin - Asset Or Currency?
Bitcoin is a currency or an asset, it has been a topic of debate since many years. Ultimately, it depends on how you perceive it based on your perspective. However, it is largely seen as serving both purposes, as it can be used to buy goods and services like any fiat currency, fluctuates like fiat currencies and commodities. Simultaneously it is considered a store of value and hedge against inflation. In summary the classification of Bitcoin can differ across jurisdiction and the context in which it is being discussed. |
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You're hungry and there's no one sell any foods, someone offer you either a lunch meal or a Bitcoin, which one you choose? that's what happen.
When the world suffer of economic depression, Bitcoin will become worthless because people will try to save any daily needs as much as they can. Being rich aren't their dream anymore, they dream are only to survive.
However I'm not really sure what's the affect you refer, if you mean economic depression will make Bitcoin become centralized, it's completely wrong.
You are absolutely correct that during times of economic hardship , individuals resort to selling their assets including Bitcoin, Gold or whatever they posses to meet their basic needs and support their families. It natural instinct driven by the necessity of survival. As far possibility of economic depression is concerned, I think it is unlikely to occur unless the world major powers engage in a significant regional conflict that spreads to other nations, but hopefully, wisdom will prevail and it won't happen. The world has learned bitter lessons from previous economic meltdowns, and they won't repeat the same mistakes again. In summary, the performance of Bitcoin will largely depend on its adoption and timely resolution of its regulatory issues. |
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I think China took Blinken's current visit as a sign of US weakness, which it actually is. The United States realized that it was not possible to frighten China with large-scale exercises and that the American military-industrial complex could not pull a proxy war on two fronts. You have to bend and flirt, but without much success - Blinken was received much worse in China than Bill Gates.
I think we should welcome this developments and view it as right step in the right direction. Proxy wars and regional conflicts often lead to devastating impact on human life. Such conflicts/wars result in collateral damage and instable economy, making life of general public difficult. We as advocates of peace lover should raise our voices to exert pressure on super powers to spend more on poverty alleviation projects rather than investing on development of weapon. |
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America, from the beginning of time, they have always forcefully taking everything, and if they can't, it results to war, this is America, sorry friends and families on here if you are originally a US citizen.
Sam of the FTX have make the US politicians tasted what it feels like, to use crypto money to fund their political agenda, there is nothing anyone can tell me but with what's happening around Sam and the once proved allegation on him are being erased or pardon makes me think this is accurate.
It's like those behind him saying, damn, there is a lot of money in crypto, imagine what we can do in America if we can control crypto, there was no doubt that Sam stole money using FTX exchange, and those money are from various innocent people around the world.
If justice still reigns, investigating SAM will probably reveal some high profile figures in the America politics, nothing about SAM cases makes any sense anymore, I think the investigation already did revealed a lot, but it's the stuffs that the nightmares are made of, something that must never come to light.
The reason why all this is happening with crypto is the money that crypto is capable of generating, the fear of crypto growing bigger and them America, not being the biggest benefactor scares them.
it is true that United states has been involved in many conflicts around the world throughout the history. but in my opinion it is not accurate to blaming America for acquiring everything by force as international politics has numerous complexities and it is a lengthy debate. The allegations against Sam and FTX should be approached with substantial evidences considering that the case is still in the court.Furthermore, concerns regarding crypto currencies should be viewed in the context of an evolving technology, and governments around the world are making efforts to regulate it in a way that ensures effective monitoring of the financial transactions to protect interests of citizens. |
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The global economy is increasingly difficult to predict, inflation that is happening globally makes us worry, if we only rely on current income then next month or next year we will experience difficulties, before bad things happen we have to be creative by utilizing all the potential that can become money .
You are correct in stating that there are so many uncertainties about world economy that make it difficult to predict its future direction. However, it is important for us take proactive approach in various ways to exploit your full potential for generating income from multiple resource. For example, if you possess IT skills then find out projects online according to your skills and increase your earning by selling your services as freelancer. It is equally important to continue upgrading your skill set level. This can potentially increase your income and make your more adaptable to the changes in the job market. In summary, to meet upcoming economic challenges, it is advisable to be proactive, creative, adaptable and open to new opportunities. |
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There is no normal being that loves getting losses on business, career, investment and trades that's why even company holders make financial policies to keep record of investment and profits flows. And unlike other business bitcoin also makes sales and losses if you do not investment wisely....is nice when you put in what can not put you sickbed or gives you hypertension, don't invest out of what you cannot withstand the loss.
Is better to use small money or learn risk management first before investing especially newbies.
It is crucial to save a portion of your monthly earning, and making wise investment can prove advantageous for your future retirement. Investment in crypto currencies such as Bitcoin or stocks of popular companies like Amazon,Apple, Microsoft or Samsung can potentially yield substantial returns in the long term. To minimize risk, it is better to begin with small small amount and continue investing by using DCA (Dollar Cost Averaging) strategy which is consider beneficial to maintain buying cost at a reasonable level. However, it is important to acknowledge that all investments carry some level of risk, therefore carefully evaluate your risk tolerance level before making any investment decision. |
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I'm worried to know the difference between Lighting Network and Bitcoin, when I saw the Lighting Network issues, I Don't know were to start to differentiate them.
Is Bitcoin a Lighting Network, or Lighting network give rise to Bitcoin transactions or these are two different technology, because this information of bitcoin and Lighting Network is understandable to people know the difference. Please I want to know the difference
The Bitcoin is a primary crypto currency that operates on decentralized block chain, whereas ,Lightning net work serves as an effective layer-2 scaling solution of Bitcoin to increase speed of and reduce the transaction fee. It has been designed to address of Bitcoin's scalability limitations issue , thereby improving overall efficiency of the network. The main goal of lightning network is to increase network scalability and increase its usability. |
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Well, i hope everyone has the same thinking as you. But, nah, some or most of the people here trust these kind of exchange (e.g binance, poloniex, Gemini, coinbase) than trusting their selves when holding large sum of money, and taught it will be at risk if they are the one holding it. As lazy as what they are doing to their money to banks, then unfortunately suffer when times comes to very worst.
It is true that exchanges you mentioned in your posts have maintained the trust of their account holders since their establishment, by successfully maintaining security of funds and mitigating hacking issues. We also need to acknowledge that exchanges play vital role for development and growth of crypto industry, and in providing liquidity for executing our trades. Despite all these advantages, it is in our best interest to maintain funds in our own wallets because past performance doesn't guarantee future results. |
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You don't know the owner, but what makes you sure to deposit bitcoin to exchange?.
what makes you sure that your Bitcoin arrived safely and was not taken away by the owner?
I always thought that,
same as banks, I don't want to save it for long time, because banks often go bankrupt, and the owner run overseas.
There are many factors which we need to consider before we decide to select exchange for crypto currencies transactions. These factors include exchange's overall reputation, quality of security systems and insurance cover of its account holder's deposits. Even with all these assurances provided by an exchange. it is important to note that security systems are never 100% immune to hacking attacks, as hackers persistently search for vulnerabilities in the system to exploit it. Therefore, it is always advisable to store your funds in your personnel wallet and take measures to secure your keys. |
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How much longer until paper money is no longer in circulation?
It is very hard to estimate the timeline of potential phasing out of paper money and replacement of credit/debit card with Central Banks digital Currencies (CBDC) as it is a complex task and depends on many factors. These factors include, preparing of infrastructure, educating general public to adopt and accept it & establishment of regulatory framework by governments. Furthermore, important to understand the diverse needs of societies and their preferences, indicating the possibility of a future where multiple systems of payment could coexist. This evolving landscape could include, paper money, CBDC and crypto currencies. |
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As a Bangladeshi I have a dream cherished inside my heart, but in reality it is not possible to realize my dream. My house is located near a popular bridge in Bangladesh and on both sides of the bridge there are parks and sightseeing spots for travelers. My father has organized a food hotel next to that sightseeing spot. I sometimes spend some time in that hotel between studies. I've been nursing a dream for as long as I've been on Bitcoin forums. If Bitcoin was legalized in Bangladesh, I would take a payment system through Bitcoin with a pizza restaurant.
But my dreams will remain dreams because Bitcoin will never be legalized by the government in my country.
Dreams are an integral part of life , motivating us to strive for something greater which can potentially change our fortune. Dreaming for global legalization and extensive adoption of Bitcoin is our common desire, and not exclusive to any one individual. We all wish to see it materializing into a reality, in aforeseeable future. It is crucial for us as Bitcoin HODLERS to continue believing in its potential to reward its long term investors with substantial profit. |
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Could there be a new financial system not dependent on USD?
Yes, it is possible and there are discussions going on in many parts of the world about it to create a multi-currency system that is not solely dependent on pre-dominated US dollar-based system, and digital currencies such as Bitcoin is also an option. The major economic powers such as China and Russia are already using their national currencies to trade goods and services. However, completely moving away from US dollar poses significant challenges due to complexities involved and need for agreements among nations to establish and accept a new system. |
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I do not want to lose the chance to buy BTC. So I am doing DCA every time BTC goes low.
Indeed, current price if Bitcoin provides attractive opportunity to buy and hold Bitcoin on long term basis. The best way to buying Bitcoin with a fixed amount of dollars in intervals by employing Dollar Cost Averaging (DCA) strategy during substantial price drops. This is considered best approach as it allows investors to obtain a more favorable average price. By regularly buying Bitcoin with fixed amount of dollars, this strategy enables traders to achieve potential quicker profitability as market begins to recover. |
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It's rare to find a person that believes the high cost of produces, house rents and devaluation of fiats will come to a halt in future. I don't doubt it, but such a beneficial change also needs a strong event to enforce it. Everything lies in the hands of the people and government. In some countries where prices of goods are not regulated, sellers may not reduce the prices of goods if the price drops. Countless times I've noticed that citizens also add to the difficulty we face today; economic meltdown, price hikes etc out of greed. It's hard to survive in a world with corrupt citizens and government.
Your concerns about rising cost of living due to inflation and declining value of currencies is quite understandable, which has made life difficult for general public. It is also true that sellers generally don't reduce the price in countries where government regulations are not strict, despite reduction in inflation rate. In a free market economy, the prices are primarily determined by demand and supply rule which can effectively work if citizen play their due role to mitigate impact of inflation by making informed decision of purchasing avoiding to buy goods from outlets where they perceive that prices are higher compared to other markets. |
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I am not anyone's financial adviser so right now I am speaking for myself, yes investment is risky and this character is not only seen in Bitcoin and crypto-currency even off crypto investment are risky.
But with the time I have been able to be active in Bitcoin I can say the risk in Bitcoin is lesser than many other investment opportunities in the long run.
The world is going tech and Bitcoin is the leading digital asset in the world right now and the want for Bitcoin would always increase, I would say invest according to your capital when in investing in Bitcoin rather than saying what you can afford to lose. If you are a long term investor and you only invest in Bitcoin I still don't see how you can lose.
While it is true that most of us are not financial advisers, but what we have learned about investment through our experience with crypto space, suggests that all type of investments carry some level of risk while Bitcoin is comparatively more risky as is extremely volatile. Surprisingly though, it remains subject of extensive discussions across various platforms of social media, that reflects notable interest among investors. Consequently, it is considered best asset for long term investment having potential to reward its investors with significant returns. |
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The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
There are distinct differences between saving money and holding Bitcoins, and they are not similar at all. Such as traditional fiat currency is subject to depreciation overtime, whereas Bitcoin is inherently deflationary due to its limited supply. That's why it is commonly considered as hedge against fiat currencies. However, It is worth mentioning here, that holding Bitcoin requires patience as is very volatile and unpredictable asset. Nonetheless, holding Bitcoin for long term can potentially yield substantial returns. |
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I agree with you. The rich are unlikely to make it so that there are no poor (after all, it is the lack of money that makes the poor work for the rich). And the poor, if he suddenly becomes rich, will be forced to accept the rules of the game, and will himself do everything to keep the poor. Yes, he will do charity, but it will be within the system, with the expectation that the number of poor people will not decrease (and will not increase much).
Indeed, it is undeniable that correlation exists between poverty and wealth within an economic system. However there are numerous wealthy individuals who actively engage in social works and make substantial contribution for humanitarian causes all over the world. An exemplary figure is Bill Gates who has dedicated significant portion of his wealth to supporting those who desperately need it. In summary, both the poor and the wealthy are integral part of our society, we need to make efforts to create an environment, that safeguards interests of both groups.. |
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