When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？
It would be simply amazing if altcoins did not evolve and flourish. Bitcoin is just a universal coin, without any specific functions, which are developing in different directions in altcoins. Therefore, altcoins have a lot of useful and necessary functions for people. Of course, many altcoins are useless and fraudulent. However, this does not change anything, since the market itself will discard all unnecessary and leave only promising altcoins. Therefore, everything is fine with altcoins. There is no other way of their rapid development yet. |
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Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
It is unlikely that this conclusion is true. The indicated facts of the appearance on the financial market of any new financial assets during the period of financial crises is most likely a common coincidence. I do not think that the emergence and current development of cryptocurrency can provoke a new global economic crisis. In fact, cryptocurrency was created, among other things, after the global economic crisis of 2008 as a financial means to combat such crises. Yes, and a lot of time has already passed to influence the world financial system in this way, and the mechanism of such an impact is completely incomprehensible. |
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I doubt anyone would be prosecuting Satoshi for creating Bitcoin. Creators of the torrent protocol weren't charged with anything, TOR was funded by the US military, etc. Just because an invention is used by criminals, doesn't mean that the creators have done something wrong.
But I agree that it would be bad, any rumors about Satoshi could be negatively influencing Bitcoin, and every word of satoshi could tremendously move market if they would choose to.
It's not even a matter of whether Satoshi Nakamoto will be persecuted if his real identity is established. In this case, there is a high probability and threat that numerous heirs of Satoshi Nakamoto will appear, who through the courts will demand recognition of their right to bitcoin as an invention. In this regard, various claims against persons using bitcoin are also possible. We have already seen this on the example of Craig, who threatened many similar lawsuits if he succeeded in judicially securing his recognition as the creator of bitcoin. Therefore, it will be much better if Satoshi Nakamoto remains an unidentified person, as he himself intended. |
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In the cryptocurrency market, that is, the financial market, its participants cannot only make a profit. This market does not produce material goods, it only redistributes them. This means that if someone makes a profit on it, someone else must suffer a loss. Therefore, there will always be profits and losses.
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As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
Such negative news has only a temporary effect on this market. Then the market inevitably recovers and moves on. The Chinese government has already tried to limit or even ban the circulation of decentralized cryptocurrency since 2017, but such measures were not systematic and they were not carried out at the highest level. If they intend to do this, let them do it to the end and once. The market will be reformed and after a while it will move on. Otherwise, negative news will be fed constantly. |
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If Bitcoin doesn’t hit $115K by year end it will signal a breakdown on one of the most accurate prediction models. That departure alone might be enough to spook the market into a self fulfilling downward cycle of cascading liquidations. I don’t think it would be the end of Bitcoin, just the end of dreams of hitting over a million per BTC in 2025.
I think that the cryptocurrency market will grow in price terms since autumn, but not so fast that it will again reach previous price records. Anyway, this year we will not see the price of bitcoin over $ 65,000. So I don't know how about accurately predicting the price of bitcoin at 115,000 by the end of the year and the prospect of up to one million. While this is all fantasy. |
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In my opinion, Bitcoin will not make any dramatic price gains until the fall for now. Meeting Elon Musk with someone can change nothing. After the recent scandals around his tweets and statements about cryptocurrency, he will no longer have the same influence on the masses. Therefore, the price of bitcoin will not fall to $ 20,000 or rise to $ 70,000. During these summer months, cryptocurrency is almost always at the same price level.
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Vietnam will soon enjoy cryptos wonders and just like El Salvador, it can be one of the countries that open ups bitcoin to the world. It may not be a huge country but a country's decision would make a huge impact on other country's decision making. Let us hope that things would work out well for Vietnam so that we can boast of crypto more in the world and the same way may happen in El Salvador so let us stay tuned and see if it will be a success in the long run.
In my opinion, you misunderstood this news. Vietnam is not switching to cryptocurrency. The central bank was tasked with introducing its central bank stablecoin over the next two years. I This is already done in most states and the government of this country does not want to lag behind the trend in the global financial system. This news has nothing to do with cryptocurrency directly. |
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Percentage of mining from renewable energy only went up because mining from Chinese coal energy sources are presently down and relocating to different parts of the world. Before we begin to get excited let us give it a months until the relocated miners new energy sources are known.
Everything that is done is done for the best. The fact that bitcoin miners are now leaving China, where they have used cheap coal energy, is very good for several reasons. This is good both from an environmental point of view and from the point of view of reducing threats to cryptocurrency security from the Chinese government. After all, most of the bitcoins have always been mined in China, and this has always had a certain risk of possible negative decisions regarding cryptocurrency by the Chinese government. It will be much better for me if this problem is solved once and for all. |
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Warren: "people are too stupid to be able to figure out risks for themselves and yet are smart enough to vote in people like me who know nothing about it to regulate everyone else."
Putting a dishonest, divisive, pandering, anti-individual politician in charge of anything, let alone crypto, is idiotic.
I even liked the quote from Senator Elizabeth Warren. The world now contains too much information that is meaningful and useful for a person, which he simply cannot fully remember. Therefore, people, including politicians, need both advisors and the opportunity to turn to narrow specialists for advice. Therefore, on the whole, she said everything correctly. The fact that she wants to protect the rights of investors is, in principle, commendable. If only here, as always, they do not overdo it and do no harm. |
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In my own view, the overarching reasons why the Chinese government has decided to ban Bitcoin and its mining are the following: 1. Bitcoin is something they may have a hard time to control and control is always at the center of the government even up to now and anything that can threaten this control will really have to be kicked, and 2. They don't want anything that can compete with their own digital yuan and Bitcoin is taken as a possible competitor, so they don't like Bitcoin. Now, it would be an insult to them if they hate Bitcoin and then continually allow its mining right within its jurisdiction.
I also generally support such arguments. The Chinese government has always had its own way of developing the economy and a decentralized cryptocurrency clearly does not fit into their plans. Until that time, they did not infringe on the cryptocurrency systematically and at a high level. This has now happened as the Chinese government prepares to officially launch its digitized yuan and cryptocurrency, and private and commercial stablecoins are its direct competitors. The current decision of the Chinese authorities is serious and for a long time. |
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A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.
This decline has already been going on for about two months, so we can assume that the bull market has long since ended. In addition, now we are approaching the middle of summer in time, and the second half of it has never been distinguished by a serious price increase in this market. Therefore, it is likely that somewhere even before October prices will be approximately at this level, with the volatility inherent in this market. After such a long and high price growth, the market should traditionally fall, although this may have happened a little earlier than expected. |
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Maybe not at all cause I've observed in some poor in there that living in the high way maybe they just suffered and living Vulnerable scenario cause they know already that they live in a risk place but besides there's status their hard work and perspective that they can eat 2 times or 1 time in a day are still remains and they never think and evil deeds.
The reality is that humanity is evil, and for some reason people do not see that, the more power you give someone the more evil they usually become. Of course there are exceptions to this, of course there are people who are not evil, even if they get a lot of money, but most of the time there are evil all around the world. Sometimes it is evil like Chinese dictator killing Muslims because he can level of horrible evil, but sometimes "I avoided tax because others too and this caused poor in my nation to be even worse" level of evil. It is cultural as well, in some nations doing small or even big evil things are seen as something okay, in other nations it seems horrible and looked down on, depends where you live. Trump for example came out and defended his 750 bucks tax return and others defended him too, do that in Germany and you would be considered crazy and a psychological evaluation would be done to you. So it is not about money, money just shows the evil inside of you to other people. Money alone cannot be a source of evil. It is a tool in the hands of a person. As a result, they can be directed either towards good or towards evil. This is just a symbol of material values that are available in the state. We live in a material world and we need some material support. As in everything, only excess is harmful. |
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I hope by this news bitcoin price can go down under 30K , I have been waiting for this. I want to buy bitcoin at 20K price level. Honestly I think if China completely leave bitcoin then it is a big problem for cryptocurrency market, many people will be afraid and then sell their bitcoin. In other side it is also create a new big opportunity to replace china domination in cryptocurrency investment. I think we are a big community now, we are the market.
Sooner or later, however, a similar situation with an almost complete ban on the use of cryptocurrencies by the Chinese government had to happen. Previously, the Chinese government was in no hurry, but now they are preparing to launch their digitized yuan and this is pushing them to take measures to eliminate all possible competitors of their digitized currency. On the other hand, to be constantly dependent on the possible provocations of this government and to have a constant source of bad information, something had to be done about it. It is better to solve this problem earlier and finally, than it could appear at the most inopportune moment. |
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This is one of the points of view and it also has the right to be discussed. Nobody knows who is behind the creation of bitcoin and for what purpose it was created. Playing cryptocurrency can be much more difficult and multi-turn.
Quantum computers already exist, although this forum has recently been assured that many years will pass before their real appearance. Moreover, it has already been confirmed that they functionally far exceed the capabilities of the existing ones. Becoming an ostrich and burying your head in the sand is not always a good way out of a threatening situation. Therefore, I also try to diversify my portfolio and pay attention to more advanced technologies in cryptocurrency.
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Open source provides an opportunity for everyone to create their own profit. We cannot influence this process, therefore we cannot prohibit the creation of altcoins. At the same time, thanks to such decentralization, when there is no one person or body that would allow or prohibit the creation of altcoins, cryptocurrency continues to develop rapidly and this, in my opinion, is the only right way. Even if from every hundreds of new altcoins only a few useful ones remain, it is still their rapid development.
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Bitcoin was created only as a peer-to-peer payment system as an alternative to the existing fiat money payment system. But in recent years, new opportunities for cryptocurrency began to appear en masse, and therefore altcoins with various specific functions appeared and the cryptocurrency began to develop further. Therefore, now we have about 10,800 different types of altcoins. Of course, many of them are useless, duplicate or simply fraudulent, but the process of their development generally continues. Bitcoin alone would not have been able to cope with such a variety of functions, so altcoins will continue to grow and develop quantitatively and qualitatively.
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Now on the cryptocurrency market, we are seeing significant or small fluctuations in prices and forecasts for the near future are more disappointing than optimistic. In any case, this year I see the possibility of good growth of this market only in the fourth quarter, however, it is unlikely that the price will rise again this year to the previous May heights.
Against the background of the absence of large price achievements of bitcoin, if the update of the ethereum network continues to be carried out systematically and successfully, then it is quite possible that the price of this coin will grow more compared to bitcoin, which means that the price dominance of ethereum will grow.
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Most people in the world do not get the chance of doing anything remarkable in their lives. Many may do things that are significant for them, but usually, chances of doing something that will change humanity, its culture and its way of thinking are remote. People involved in the French Revolution, artists in the Renaissance, philosophers in ancient Athens, ... they did things that left the world changed.
Most of us have some bitcoin. A few have a lot of bitcoin. Just think that for any reason, in 5 years or 10 years, something happened that dropped bitcoin value or made the network unusable or whatever event or combination of events made it impossible to use it any longer. As far as I am concerned, I can say "I was there and, at least, it was something great and I was part of it". When bitcoin fades, the way people think about currency, self-governance, trust in a system will have changed forever. And you will have been part of it and be able to say "I did something great and it changed the world".
What is interesting: practically all the great inventions of mankind in the past and even partially in the future are known to us from a wide variety of sources, including the works of science fiction writers, which surprisingly come true with amazing accuracy. However, we do not find any information about digital money that would be a significant event in the global financial system. We find traces of the use of nuclear weapons many millennia ago, space battles of earthlings in near-earth space about 12 thousand years ago, but we do not find anything either in the past or in the future about a special form of digital money. Both science fiction writers and today's astrologers predict the destruction of states and that the world will be ruled by large corporations. For cryptocurrency, this is both a huge chance for development and complete oblivion if such corporations sharply oppose it. |
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Many states are now considering issuing their own central bank stablecoins. This process is not so fast and takes at least several years, because finance does not like haste, and digital money is a completely new phenomenon. This process can accelerate significantly if the first states to introduce a digitized currency in their country achieve some success. Especially in this, China can surpass with its digitized yuan. If this happens, then the release of their digitized currency of states will simply be massive. This process can greatly affect the development and the cryptocurrency market in the future.
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