Why keep believing in this man's words? He mainly makes statements for hype and popularity, and isn't a man of his words most of the time. From not supplying enough evidence to prove his Nakamoto identity, to any other blurry statement, predictions, and threats to Bitcoin Core, nothing really makes sense. He even goes to court with falsified documents.
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Could you cite some source where he stated that? Either way, Craig Wright is already known in the community for stating such kind kof bold statements without really backing it up. To me, it's just an attempt to boost popularity of his work on nChain and Bitcoin SV. Nothing to really worry about, Bitcoin still remains strong despites limitations.
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Where did you come up on such news OP? As far as I see it, Gold has been up for centuries and would likely to remain the standard of wealth. Countries wouldn't just dump all their gold reserve just like that. It's still a rare, precious earth metal that most people see as valuable, and also has some utility in terms of electronics and such. Bitcoin could back USD, or even replace USD, but that's far too distant from this point in time.
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It would be much better in my opinion if the first chart included the price as of now, since we could visualize more easily whether the price have been reflecting the past halvings on a year before basis, and when do we expect another ATH coming into the market. Nevertheless, it's still unpredictable whether it would follow the pattern this year's halving, as the dominance is decreasing and altcoins do also improve over time.
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This is indeed possible in the distant future. But first, Bitcoin needs to overcome problems in scalability. Slow transactions would always be a hindrance for its adoption, especially in handling those microtransactions. Though it can always go with the help of other faster altcoins such as Ethereum and XRP, and Bitcoin would be the one handling international, inter-country macrotransactions.
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There is progress, but I think it's slower than expected. Bitcoin needs to have progress this year or else, Ethereum might dominate Bitcoin in terms of real-world usage and adoptability. Though Bitcoin still has some of its glory and dominance, it still needs to improve and deliver the expected performance to be viable and to compete with other altcoins. Though they can always work hand in hand, the network shouldn't remain stagnant for this year.
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Holders are the one expecting these prices, and I'm one of them. I'm slowly accumulating Bitcoin and also Ethereum and XRP since those are what I see has great potential next year. Right now, we might be at lows but reaching such prices isn't really impossible in a volatile market. Either way, I'm willing to hold until I'm satisfied and 2020 might bring that prices to us this year.
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Hash rates doesn't really equate to adoption as what you are saying. More miners doesn't mean more users of the currency. True adoption lies on the people's interest to use the currency as a mode of payment, alternative to banking and fiat systems. There's more to price action than hash rates alone, and I think looking at a single method of TA is unreliable than combining it with other indicators and FAs, market sentiment and overall demand and future potential.
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I don't also get it, and China adopting blockchain is nowhere good as a news. They are even on the progress of making their own cryptocurrency to effectively ban Bitcoin and other cryptocurrencies. Whale/manipulators only use these news as a catalyst to further instill FOMO and drive the prices to their desired trends.
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It's more unlikely to happen than it has chances of achieving that price. As of now, we still see no significant action. Though it might be worth noting that the pump last time to $10k was pretty quick, and is also short-lived. Though personally, I still find the lows on mid to end February next year.
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Bitcoin does have in fact problems in energy consumption. And knowing that China is the country warning Bitcoin miners could be a threat to the network, not now but maybe after a few years, if the PoW system won't be improved. Since more than half of the Bitcoin's Network is located in China, it could bring a critical hit to Bitcoin.
Though there is a chance that Chinese Government announced such news with political reasons. They are known to currently making their own cryptocurrency, and may just wanted to have something that could pin down Bitcoin to effectively ban it in their country.
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US is quite known for such stunt. Bragging rights while having a hefty debt and it looks like they have no plans whatsoever in addressing this problem. Bitcoin could also not miraculously fix the debt. Sure, it could have make faster macrotransactions that 'might' boost the economy, but it's not guaranteed, and may not be enough in reducing the debt.
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It does outperform when looking in the numbers alone, but you had to also consider its future. An asset that is not backed by anything still a risky investment. And also to mention that it wasn't supposed to be used as an asset but rather a currency. The next decade, we might see more improvements especially in the Lightning Network, but still we need to acknowledge other reputable altcoins such as Ethereum and XRP that does also well in the market.
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I have also some doubts this coming year whether the halving would trigger and be another catalyst of a bull run, or it won't affect the price as much as before. Either way, I still hold some in hopes, and even TAs point out that it would increase, though such TA predicitions are still not that reliable. It's too volatile to predict and too decentralized to know what would be the next price trend. Anything could happen, positively or negative way.
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You could run your business, but by that amount, you're nowhere near having an income without hardwork. Those who earn such are CEOs of multi-million dollar companies that has already all the necessary team to do his business and not think of much about it while passively earning. You could invest in running your own business, or enter the world of properties (lands) which appreciates in value, but all of which requires hardwork.
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Another TA that is possible to have some insights on the market, but isn't always guaranteed. It could be a potential buy flag, and we could invest some amount into Bitcoin, though there are other factors to consider such as the market's sentiment towards another halving, their take on the future years of Bitcoin, or some whale manipulating the market, government restrictions and adoption, and so on.
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Though Bitcoin or cryptocurrencies in general isn't a quick patch fix to an ailing economy, it could help in some ways. For one, faster transactions, domestic and abroad, could potentially make economic growth faster than traditional banking ways. Though it could impose some risk for the government since implementing tax could be a challenge in adopting cryptocurrencies.
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I'm more positive into this. A decade could look short, but recent innovations have been exponential in nature. And the need for paper money and coins are getting obsolete, with digital means already being used and sometimes even replace paper money completely.
It is also worth noting that paper money and fiat is different terms. Paper money is the physical representation, fiat is the currency itself and could exist digitally or physically.
Also, Bitcoin is not the only potential replacement for fiat. It could be Ethereum, or other still unknown cryptocurrency, or government-backed cryptos. Nobody knows for sure.
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This could potentially change how the public percieve cryptocurrencies in general. With UNICEF being quite a large institution, it might make other institutions think of adopting the currency, which would further increase adoption, and also encourage beneficiaries of the fund to talk about and consider using cryptocurrencies too. It also proves how cryptocurrency is not a get-rich-quick scheme as some people still think, but rather a tool that could be useful in financial sector.
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This is one of the compelling reasons that could drive miners away, and would definitely affect the hash rates and also the prices. Though as we have seen in the past, it doesn't really happen. Maybe it's because the hype and price increase even before the halving keeps the miner from bailing out. Though if the price won't increase for whatever reason, no whale manipulation, no real investor hype, then we could see some quitting out.
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