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I think there's no need to bother too much about why bitcoin goes up or what causes bitcoin to drop. Bitcoin is a financial market, and its ups and downs are inevitable. Enjoying it instead of looking for causes won't help you either. Bitcoin is rising, but I prefer it to fall, I expect a strong correction soon for me to buy it, I like to buy cheap rather than high.
You don't seem to be a proponent of predictions. Because on the background of news, events, you can predict the rise or fall of the price, which will allow you to have a more favorable position. |
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Aside from the given strong feature by the @op, I believe Bitcoin needs stability to become a Mainstream payment method. The high volatility of Bitcoin discourages merchant from accepting it since they are afraid of the risk of losing value if they accept Bitcoin. Regulation is another factor. If many countries accept Bitcoin as a mode of payment then the market can easily transact with Bitcoin and many merchants will possibly take advantage of this to get more customers and sales.
Stability will increase bitcoin's rating among users, and more companies will accept it as payment. At the moment, bitcoin's reputation as an unstable currency is only making it worse. |
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Seems amazing with your business have accepted bitcoin in September 2021 and more than one year keep exist priority bitcoin as currency payment, but would be better when you explore about how percentage chart your business growing up after accepting Bitcoin as payment tender.
I am little doubt with many respond above need your proof from transaction or you have picture showed about how your business accepted bitcoin and want to know your costumer feedback, are them happy when transaction using bitcoin as payment transaction than usually using fiat for all transaction. Lets clear here and respondens will believe with your story.
Accepting payments in cryptocurrency always empowers your customers. It is also very convenient, and nowadays very easy. There are various plugins or cryptoprocessors. They do not raise much doubt since they do not use your personal information, use a large pool of cryptocurrencies other than bitcoin, don't have transaction fees, allow partial payments, and much more. For example, this crypto payment processor - good option |
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Bitcoin is a time-tested currency, I think that makes it the most reliable way. But I'm not saying that Ethereum and other currencies are great too. But bitcoin comes first.
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It's comfortable. It is much easier for many clients to pay for services with cryptocurrency. Now there are many ways to do this. Various plugins and crypto processors. They allow you to accept a large number of cryptocurrencies without commission. Allows you to set up partial payments, crediting the overpayment to the balance, no KYC, non-custodial, SegWit Support. So why not start accepting crypto? A good option is this crypto payment processor |
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actually in this case,
about bitcoin it can't be called a pyramid scale fully, indeed most are like that but not completely like that, so bitcoin is a valuable asset which of course gives freedom for those who are interested in investing in it.
and it depends on the enthusiasts and depending on the intelligence of the enthusiasts in terms of buying.
The reputation as a pyramid scheme for bitcoin is supported by advertising that aims to make bitcoin have a negative information field. People who understand the technical side of cryptocurrency have never thought so. |
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The most expensive thing you can buy using Bitcoin is likely a very expensive house or car somewhere around the world where there is a dealer or Real Estate Agency accepting Bitcoin payments.
You can buy about anything using Bitcoin long as you have the financial possibility to travel to a country where you can purchase the thing you want.
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Regards,
PrivacyG
The problem is that you are offering to go somewhere to buy something with bitcoin. From a buyer's point of view, I can say that I want to buy everything in the place where I am. And this is still a problem. Bitcoin is not yet sufficiently adapted. |
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That insecurities make you feel that holding Bitcoin is no longer safe no matter what you do because you are already been infected with such undesirable emotions and it was hard to remove them. Just take a look at the number of Bitcoin holders and investors, never think that they feel the same just like you but they are confident that 12 words are enough to give them security. In fact, it is not just how we measure fund security as it also includes on how you keep them safe.
Well, the big bitcoin holders have provided enough security; we are talking about ordinary people with <1 BTC. Usually, they are not very knowledgeable on the technical side. |
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In these moments I wish I knew about crypto earliet
Maybe you won't believe but you still know about crypto much earlier than majority. It is still the very early stage and you can still get lots of benefits if you know how to deal with that. Early stages are the most risky: of course you can win being among the first ones but you can lose even more easily. And as for holding bitcoin as a defensive asset you can start doing so now or even in the future as IMO it will work that way as long as we can see. I agree holding bitcoin during a crisis is a good idea, but i don't see how it will make the economy more stable, because everything about bitcoin is about volatility |
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I think it's more about teaching financial literacy. You teach a child from childhood to manage money. Show them that money can work for you in the future. And as an example, they show cryptocurrency. The same can be done with the example of stocks, and bonds.
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It's not known whether there truly is a small group of people that is able and actively engages in triggering major Bitcoin price shifts. I don't see enough evidence if it, and thus I don't believe it. Distribution is definitely uneven, but that's the way with any kind of wealth in the world, so it's a global challenge. Limiting the amount per person would be dystopian, as it limits the freedom of people to buy however much they want and requires linking all wallets to personal IDs to ensure one person doesn't simply have several wallets to avoid the limit. I think that a way toward more equal distribution of wealth, including Bitcoin, shouldn't be as restrictive.
I definitely agree with your statement. I also doubt that a group/entity can affect the price of BTC in the market even if they have majority of the coins on hand. They may manipulate the price at some point but the effects would not be that too much of a difference to the point that it will definitely disrupt the market. Like what you also mentioned, having a centralized authority which regulates the transaction of BTC contradicts to the very nature on why BTC was created in the first place. Again, this is not what Satoshi imagined if this were to happen. Having the freedom to transact using BTC without the need of a central authority is the true gift of BTC and this should not be eliminated due to regulation from a central authority. I think this is about CEX. Since this is the only thing that can be described. |
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It is good to see that any establishments are willing to accept Bitcoin but the question is if people are also wanted to spend their Bitcoin buying stuff.
That is really amazing, yet most of us had considered Bitcoin as an investment which makes me think that people are still preferred to use fiat over Bitcoin. I'm going to say that because, in myself, I can't do it. I can be one of those people who believe Bitcoin as a currency but never use it in real life as I can see more benefits if I use this for investment.
Most prefer to use fiat because it is more common than bitcoin. You can pay with fiat anywhere, but to pay for the same with bitcoin, you need to search well. |
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The thing is... You can introduce someone to Bitcoin and you can even inspire them to accept it as a payment option in their shop or business, but if there are not people using it as a currency.... those businesses will stop accepting it as a payment option. Bitcoin's volatility encourage people to rather use Bitcoin as a Commodity or an investment ...so people are hesitant to use it as a "Currency" ...because they anticipate huge profits on the horizon.  Therefore, it is advisable to introduce such payment in areas where people potentially know about cryptocurrency. Of course, we are not talking about tomato traders in the market, but this will work well in the IT field. |
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Bitcoin has only become popular in recent years. In the early years, Bitcoin was only used by a small number of miners and investors.
However, after Bitcoin is widely used by everyone, it really brings us convenience. Bitcoin has changed my life, I am glad I knew about Bitcoin earlier and bought it.
Bitcoin has changed the lives of a lot of people, it's true! But the people whom he absolutely did not affect much more! Therefore, it is difficult to judge its usefulness here. Everything is individual! |
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Actually, you made a good choice. Trust Wallet is quite reliable. Of course, you can consider other proposed options, but I personally don’t see much point in this since technically I don’t see much difference in security.
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Bitcoin can do without fiat and likewise fiat can also do without Bitcoin since they both represent money in different form. Money is anything that is been accepted by people to use in exchange of goods and services. When there was no fiat currency peoples were still trading using other means of money. Bitcoin just came into existence mean while before this we were using fiat.
The difference between both currencies is that one is more valuable than the other because Bitcoin was created due to to weakness of fiat to safe its users from financial freedom. In one word both currency are independent of the other.
This is possible only if a separate financial system is invented for electronic payments so that they do not depend on fiat. And now all fiat money is transferred to electronic. Even the bitcoin exchange rate is pegged to the dollar. Therefore, now it is impossible to say that they do not depend on each other. |
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It seems different now because "crypto" has never been farther from Bitcoin at this stage. Sure, we had the 2017 ICO era with thousands of shitcoins spewing out of Ethereum but you now have scores of Ethereum lookalikes, spewing out dozens more of crypto we'll never see or hear about. Exchanges creating money out of thin air, newcomers to crypto never actually knowing how to use crypto, wallets, much less own a single satoshi.
Bitcoin doesn't just survive these things, it thrives. Price reflects that only later on.
It's hard to argue. Especially now, when the involvement in cryptocurrency is only growing every day. But I don't think many users bring it prosperity. Those who do not understand this just want to increase their money, they invest in crypto, and at the first sharp drop in the price, everyone sells. But at the same time, their dissatisfaction generates a negative atmosphere around cryptocurrency. There are a lot of them, and they all judge whether a cryptocurrency is alive or not, only by its price. It doesn't matter to them how much technology and projects appear around it. |
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It is always the security issue when it comes to money. Others coveting your holdings and planning and doing nefarious thing just to take it from you. So privacy is really very important so if ever we have a good amount of crypto in our position, we should be careful and not let others know our holdings because the possibility of getting an idea to stole our crypto is always there
I think this is about financial literacy. A smart person will never share his financial condition with anyone. |
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Were they really surprised though? Casinos were one of the earliest adopters of internet, going online and doing all kinds of digital marketing and developing digital payments even from the late 1990s -- a major reason was restrictive regulations that pushed them away from physical opportunities.
Early adopters of new tech tend to be "fringe industries" so no surprise.
You are right! But we all understand how long it will take for Bitcoin to reach this price. And how much each jerk of the graph down affects your condition. |
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I agree, but only partially. Many people, even those who know how bitcoin works and understand all the technical nuances, are in no hurry to invest because they are repelled by the fact that bitcoin is very easily influenced by many unforeseen factors. Its volatility is very alarming for many
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