I'm not sure internet native is the best word usage here. I would say it's a race to find the best, most anonymous most transparent and easiest to use currency for online payments.
Internet native might not sound good but technically, it's correct. These cryptocurrencies operate in a server (centralized) or decentralized mesh of interconnected nodes (decentralized) that is the core foundation and idea of the Internet. Nevertheless of what you want to call it, Bitcoin is still leading since it opened up new possibilities through the blockchain and how it is possible to transact transparently while maintaining security and anonimity of the users.
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Bitcoin is indeed going strong as time pass by. And we're near reaching another bullish run. I'm also quite impressed that it maintained above $9k despite dumps from whales and it's still giving signs of growth. Some factors could be the news about Starbucks that would soon support cryptocurrency, and of course the halving that would happen next year. I'm positive of the current news circulating around and with continuous adoption, growth is more likely.
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Even if they're both speculative, the factor to consider a currency to be a medium of payment is its volatility and convenience. But even though bitcoin could be difficult to use for transactions alone, with fiat, it's possible and more convenient and secure. It could be a speculative asset and at the same time mode of payment, if used with fiat, such that products can be in USD but could be paid in BTC equivalent at the specific time of transaction.
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It may be a temporary safe haven but it won't be long. Bitcoin isn't supposed and made to cure poverty among countries. It's never even said in the white paper. Poverty and economical crisis lies within the administration and also the solution is within them. They could try to get into crypto, and I also think crypto is widespread known in China since they got multi-story buildings full of shops regarding mining, but having knowm most crypto is volatile won't do them much good either.
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The news regarding Starbucks is quite huge and its possible impact could be significant to the market. It's one of the most popular premium coffee bars and has a great market of variety of people from the upper to middle class. And having poster on the counter that Bitcoin is accepted would be a lot of publicity to cryptocurrency, in a large number of countries. However, this will still be far from today since it will surely undergo tests and experimental launch before full implementation.
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Most likely, we will see another huge dump before the halving. One user posted in this forum (I can't remember the title) an observation of price patterns every halving of the network. Prices would go down months before it will happen, then would pump up since supply wouldn't be able to keep up with the demand. I'm also expecting it since whales would definitely take advantage of that event for their highest profits.
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This kind of behavior makes these aspiring companies that makes their new product hopeless. The impatience of some, who does not believe in the product, but rather just wants to get it immediately listed on exchanges, hurts the userbase of the product and would be the cause of their fall. I agree to your stand and only if people really pay attention to the efforts to make their platform secure and better, and having some patience up their sleeves, then they may get a solid product that would guarantee them some profit/returns.
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To simply put in words, Market Cap is the total supply of a currency, in this instance, Bitcoin in USD (because Bitcoin in itself has unclear value on its own). On the other hand, Daily Volume (which I assume is the Trading Volume), is the amount of Bitcoin being traded/exchanged for one whole day (24 hours) and determines the trading/market activity for a currency, which indicates whether its being used or not. Basically, a currency being used by the people is successful, while one which isn't, or useless, may deem to be unsuccessful.
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I think the main purpose of inflation, for instance with fiat, is for people to use the currency because they know that anytime in the future, its value would decrease and thus creates this mindset that people should spend their money now than never. Which is great to progress economy, but bad when goes uncontrollable. If people won't use your currency in spending, rather just holding, then your coins may deem to be useless and no one would want to hold/use it.
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Bitcoin, as time passes by, becomes more and more relevant and important to the current market situation. In addition, some countries that experience falling economies and high inflation rate are starting to look and use Bitcoin that does not experience real inflation. If these situation would continue, it might be the start of another crisis and this time, Bitcoin and other altcoins might be the safe haven of people to store their funds.
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Continuous announcement of Bakkt pursuing and making cryptocurrency possible with daily transactions, such as in Starbucks, may have positive impact in current market situation. Given the fact that Bakkt has partnered with Microsoft too, it holds a strong foundation of becoming successful. And having Bitcoin and other top altcoins in its platform would increase demand and prices, and improve market activity which would generally be good for crypto.
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Even though it's a site that is ran by an exchange, having an article like this is quite helpful especially for aspiring traders out there. Some learn through experience immediately, but others prefer reading books/online resources first before engaging in cryptocurrencies. The good thing about books rather than modern online articles is that these books are backed up by references that have also undergone extensive proof-reading and revisions, making them more reliable to get information to.
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If this is a verified news, then these might have great impact in the future years to bitcoin. Early awareness to cryptocurrency would make young learners aware of the network and its core framework. However, it will still depend on how the authors of books would describe Bitcoin to students, whether it's biased to one side or neutral (which is better).
This proves that Bitcoin has the potential to be the next currency, or even a great alternative only to fiat. Bitcoin continues to get recognition and a sign that it's growth isn't likely to be suppressed by other government's effort against it.
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I think the surge is caused by the continuous publicity and adoption of these countries to Bitcoin. Once they had learned its background and its potential to be an alternative asset rather than their local banks to store funds, they might have migrated and the spread of words after that could have caused the surge. Having said that they're economically volatile/unstable means that the people of these countries are going skeptical about their economy's future and having found this safe haven must have been a huge factor for them.
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Opening in China, knowing that the country has a huge part in Bitcoin's network, is maybe a good idea. Sincea large percentage of people there are aware of cryptocurrencies, and especially in mining, they could attract more people to use their exchange and therefore, more trade/exchange activity that would be good for the market. However, China is known to impose their rules to their liking and if they decided to outright ban Bitcoin or other cryptocurrency, then this could be a problem to Binance.
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why many of so-called blockchain projects these days are scammers, is this was motive behind the technology? many real investors are not confident to participate due to fake blockchain projects all over the internet.
what are your views
Lack of regulation and people eager to participate are the factors that attract scammers to do such thing. To put this in simple logic, there will be no scammers if there are no people that are falling easily to their scam. And these scammers exist because no one would stop them, or make them responsible, once they just quit and steal investors money. No authority is responsible in penalizing these so-called companies that are outright quitting. There's nothing sure in the crypto-space. From price trends (whale manipulation), to regulations and policies, and anonimity, it's hard to figure out since it's made decentralized.
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The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?
It's more because of the culture of the Chinese people. They're known to be good traders early in the history and good at handling financial assets, and so is having ways to earn money. And may be when Bitcoin starts to get traction and spread through words, they tried to understand and learn it early on, and since they have enough resources, and considering China is known as a marketplace, even in digital/electronics world, it's easy for them to dominate the platform. With low cost of labor and electricity, they might have seen the potential of growth and profit in Bitcoin.
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I think you should try to look at the Local subforum here. Having same language means having the same geograohical location most of the time, and therefore a source to local news from the country you're from. However, there's not really much news for every country. Some people from other countries does not even know what Bitcoin is. So news about crypto is irrelevant for some, but neccessary to others.
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Quantum computing is still far from development and even if it did become successful, I don't think cryptography would be its first use cases. There are a lot more than crypto, such as simulations for various use cases like space exploration. And even when it got to touch cryptography, I think they would focus first on strengthening current methodologies in data security over the network, and not on just mining bitcoin which they deem to be nothing but speculative shady asset controlled by no one.
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Be open-minded and don't only list its advantages, but be open to its disadvantages, and we can discuss how to address these negative sides of bitcoin. For one, Bitcoin's anonimity may be good in terms of privacy, but too much and you'll have problems with tracking illegal activities made on the internet, paid through the bitcoin network. Another thing you said is volatility, which may be good for investors for profit, but volatility is two-sided and you also risk losing huge part of your money.
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