Sorry for being super late, payment is on your accounts.
No problem. Thanks!  |
|
|
|
As long as the US Dollar remains as the reserve and trade currency of the world, it will be having an unfair advantage over the other currencies. They are able to sell their debt at extremely low interest rates of 1% to 1.5% per year. China and Japan currently have trillions of USD worth of US treasury bonds in their reserves. On the other hand, if a country such as India need to borrow money, then they need to offer a much higher interest rate. The BRICS nations have now proposed to come up with a different system for international trade. Let's see how it goes.
The USD may still be the world's reserve currency but that may not last for long. Everything will depend on how the FED will act against ever-increasing inflation rates. If inflation gets out of control, then USD will lose traction at a very fast pace. That will devastate the global economy to a point of no recovery. Some countries are quickly getting out of the USD system before that happens. But others haven't expressed their intentions to get out of the dollar anytime soon. Bitcoin's price is determined in Fiat, so it's likely the fall of the USD will cause BTC to go down the drain within a short period of time. After that, the EUR or another currency will take over the global economy. No one knows what will happen in the future so we can only hope for the best. Just my thoughts  |
|
|
|
While still too early to tell if Bitcoin has reached it's bottom or not, it looks like we will find out very soon as I referenced elsewhere (see quote). $23K looks like it will act as key level for either a break-out back to $30K levels, or otherwise a rejection that will likely lead to a lower low, based on the current bear flag structure. If the weekly RSI can close outside of oversold conditions, likely around $23K prices, then this would be a similar setup to the 2015 and 2018 bottoms, whereby the RSI leaves oversold conditions and doesn't return (until the next bear market). Of course this is only one indicator, but it's been a reliable one in the past.
Bitcoin is hovering between the $20k - $21k range. There could be further dips in price if the cryptocurrency is unable to maintain a resistance level. It may go lower than $20k but it'll never go to zero because it's the one cryptocurrency that started this craze. As they always say, "You can't beat the real thing". I see this as a huge opportunity to buy more coins at a discount. Once the bull market begins, you'll be able to cash out huge profits. No one can predict how much BTC will be worth in the future so we can only hope for the best. Just my opinion  |
|
|
|
Bitcoin is exemptional, can't be compared with these shitcoins. It has been widely talked and it grow fast because of its market potential. The market cap and the influence of these whales making Bitcoin become known globally were rich people, huge investors, and as well as poor people got involved. And to think about the end of Bitcoin is too far away unlike these worthless altcoins.
It may lose its value but that doesn't mean it was a sign of its end.
Exactly. Despite the dip in market prices, Bitcoin is still the #1 cryptocurrency in the world. It will never die as long as there are supporters behind it every step of the way. People got it all wrong when they say "Bitcoin is dead". They're just basing themselves on market prices instead of what matters most (which is mainstream adoption/utility). Believe me, there's more to Bitcoin than meets the eye. Sooner or later, prices will rebound because of the cryptocurrency's finite supply. It's simple economics based on the rules of supply and demand. Unless a technology superior than Blockchain comes up, Bitcoin won't be going anywhere soon. Just my thoughts |
|
|
|
The released capacities will definitely switch to mining other coins, and today the profit received from mining Ethereum Classic is one of the big ones. An increase in hashrate in the network will necessarily entail an increase in network security and, as a result, an increase in the cost of ETC, which will again attract miners to transfer capacity to this network.
It's possible ETC will become bigger and stronger than ever after Ethereum goes full PoS. We've yet to see how secure the new Blockchain will be, especially when PoS undermines the network's decentralization. If ETH fails, then ETC will take over as the world's second-largest cryptocurrency by market cap. Things would've been worse if the code wasn't open source for anyone to modify at will. There are rumors that ETH will be switching to PoS by the end of the year, so it's best to be prepared just in case. Just my opinion |
|
|
|
If we are to have mass adoption of cryptocurrency, we need to accept the fact that there will be regulations that go along with it. The government will discourage anyone from using cryptocurrencies without regulation. Regulation will help keep the market clean scam projects and scammers will go to jail and can no longer compromise our safety but the regulations will limit our anonymity somewhat, cryptocurrency gives us certain privacy, once the regulation is passed it will affect us.
That's certainly true, mate. Regulations will affect our privacy in every way. They're meant to minimize the number of scams, hacks and/or theft, but they can also affect the average person by exposing his/her identity in a centralized platform. KYC/AML are security holes that make Blockchain tech no different than traditional banking. Unfortunately, there's nothing we can do if we want crypto to be legalized worldwide. Either exchanges comply or face serious consequences in the long run. It's a good thing crypto/Blockchain tech is decentralized or things would've been worse by now. The future is widely unpredictable so no one knows what governments will come up with to either stifle or amplify crypto/Blockchain tech's growth worldwide. Just my thoughts |
|
|
|
1 standard set for me. Thanks! |
|
|
|
What's even more bizarre is that on top of Euro reaching parity with USD, USD inflation still isn't stopping. New CPI has the USD inflation rate at 9.1 percent. The interest rate hikes aren't reflected in this report, nor are lowering energy costs, but it still is absurd that nearly 10 percent of the value USD holders had a year ago was lost. There aren't many stable currencies left, which is unironically "good for Bitcoin."
The US Dollar is losing its luster as inflation soars like there's no tomorrow. If I'm not mistaken, USD has a higher inflation rate than the EUR. It's possible the Euro will end up being a stronger currency than the Dollar in the long run as the latter continues to lose traction. How will this impact Bitcoin's price, is yet to be seen. I'm guessing the number of stablecoins on the market will diminish over time due to tightening regulations from mainstream governments. What really matters is Bitcoin's usefulness as a currency (not as an investment tool). As long as it stays decentralized, it won't be going anywhere soon. Just my opinion |
|
|
|
That doesn't sound right. This makes me think that you just came out of the cave after a long hibernation hehe. I'm pretty sure those who were really around knew the price measured in ETH were even higher when UNI was surging. A lot of the traders and investors didn't mind how much they will spend to buy or sell during that time since as long as they make a profit.
It's been a long time since I don't use the Uniswap platform. I've sold all of my UNI after the airdrop. A good thing I've made that decision, or I would've had less money in my pocket today. I've only asked if governance tokens were a good long-term investment since they serve a unique purpose in crypto/Blockchain land. It doesn't seem to me that platforms like Uniswap and Compound are that popular compared to their counterparts on other Blockchain networks, but I could be wrong. The high ETH gas fee is what killed most of these platforms, since only whales were able to participate in the system. How can it be called "decentralized finance" if only a select few are able to use it? This is nothing more but inequality baked right into the Blockchain. I hope things improve in the future so both Uniswap and Compound could reach mainstream adoption at a large scale. The market is bearish right now, so it wouldn't hurt buying a few of these tokens (mainly UNI and COMP) just in case. |
|
|
|
I'm not too sure completely, but as we know centralization can make it so easy to play a role in the market, especially on a scale Ethereum clearly has a negative impact on cryptocurrencies. The logic is when the center under the Ethereum network also gets the same impact. This was not the main purpose for which Ethereum was originally created. Then it would make sense that Vitalik vehemently refused. The rest is about centralized exchanges which are much easier to control market movements, to me that would be very unwelcome.
Greedy exchanges will want a piece of the pie, by using customers' ETH to guide the Blockchain in their own direction. It will be a conflict of interest, as exchanges will only approve/disapprove certain network upgrades and/or improvements if it benefits them. For what I know, money talks so you can expect such big players to "own" Ethereum at its fullest. We cannot say the same with the current version of Ethereum (which can be mined by anyone with a GPU). Vitalik Buterin has a strong presence in the project, so anything he says will be seen with good eyes by the community. It's unfortunate, since this will lead Ethereum towards full centralization. At least, we'll have Ethereum Classic to preserve Bitcoin's original purpose (decentralization/censorship-resistance). Who knows if miners from ETH flock to ETC once the PoS merge is completed? Just my thoughts |
|
|
|
I think it will eventually retrace all the way back. The hard part of usd pricing alts is its alldepemdent on bitcoin and what bitcoin/usd is. If bitcoin spikes to 100k then maybe not but if bitcoin retraces to 10k its a likely fall for doge as well. Ultimately with the 10k per doge being minted per minute I think price is just unsustainable.
You've said it yourself. The only way DOGE will go back to sub $0.01 prices is if Bitcoin goes through a heavy downfall in price. Other than that, I don't see this becoming a reality anytime soon. If DOGE falls too low in price, it's likely Elon Musk will abandon it for the next big thing in crypto. After that, DOGE will have a hard time reaching a new All-time-high by its own. The "meme" cryptocurrency may be good for micropayments and gambling, but it's terrible as a store of value. The circulating supply of DOGE is huge, compared to top players in the market. With a high inflation rate, we can never expect to see DOGE become extremely valuable in the future. At least, the cryptocurrency will survive thanks to its decentralized and censorship-resistant design. Who knows if it gets to live alongside Bitcoin and Ethereum for generations? Just my opinion |
|
|
|
Cryptography can’t get illegal. Wtf are you talking about? The whole world uses these technologies. Banks, businesses, police, cc companies, i mean pretty much everyone.
They may try to outlaw bitcoin but cryptography/encryption will never be banned. Banning these is like banning math. It is the same level of absurdity.
Of course. But you'll never know what governments will come up with in order to try to destroy Bitcoin and other cryptocurrencies for good. They might still use encryption/cryptography, but it will be illegal for public/private use. Such a ban will work in non-democratic countries like Russia and China, simply because their governments often cripple the opposition. We can't say that about democratic countries, though. Nothing is guaranteed to last forever, so we should be prepared for the worst. Just my thoughts |
|
|
|
11 - Abiky Thanks! |
|
|
|
88 - Abiky Thank you! |
|
|
|
I've seen some governance tokens going all the way towards the "triple digits" within their initial days since launch. It's impressive how tokens like MKR and COMP reached such high prices within such a short amount of time. Uniswap's "UNI" token performed well in the past, but prices are relatively stagnant these days due to the platform's high ETH gas fees and poor performance. The current bear market made things worse, plunging major crypto asset's prices at a very fast pace. Given that governance tokens allow "hodlers" to make key decisions on decentralized trading platforms, it's possible demand will soar in the future. Do you think governance tokens (UNI, COMP, MKR) are a good long-term investment? If not, why? Your input will be greatly appreciated. Thanks in advance. |
|
|
|
The FED's hawkish measures have made the USD stronger over the past days. However, the Euro has been showing signs of "weakness" as it nears parity with the US Dollar. With 1 EUR being worth (or close to) 1 USD, there will be no difference in exchanging Bitcoin to one of these leading Fiat currencies. Sometimes I wonder what will be the implications of Bitcoin's price within the short term with both currencies (USD and EUR) in parity with one another. Will this lead BTC towards short-term gains or will everything else remain the same? Also, do you think the EUR parity with the USD is only temporary? If not, why? Your input will be greatly appreciated. Thank you very much. |
|
|
|
I've been saying this for a long time now, and I will say it again. PoS will make ETH more centralized as whales and other big players in the industry will be able to participate in the network with their stake. Considering that exchanges hold most of a Blockchain network's cryptocurrency supply, changing to PoS will leave the average person out of the system for good. Of course, people will still be able to stake less than 32 ETH through staking pools. But it won't be the same as becoming a validator yourself (you won't participate in the network's consensus by staking your coins in a staking pool). A better approach for ETH would've been a hybrid PoW + PoS consensus algorithm. That way, everyone will have a final say over what new rules or decisions are made in the network. I guess Vitalik doesn't care about decentralization after all. Do you think big exchanges like Binance, FTX, and Huobi will be able to control ETH after it becomes a full-fledged cryptocurrency? if not, why? Will there still be hope for ETH after the upgrade is finalized? What will happen if ETH collapses due to centralization? Will it take the whole crypto market down with it? Your input will be greatly appreciated. Thank you. |
|
|
|
Accepting bitcoin is always good idea. If you run a service and people are willing to accept it via Bitcoin then this is good for you. I plan to have a car showroom and put bitcoin there as payment method. Which would make me more profitable than Fiat cash money.
If you don't care about Bitcoin's price in Fiat terms, then there should be no problem accepting the cryptocurrency as payment method. But most merchants and businesses need to pay their bills and several other costs which can only be paid in Fiat. You can't sustain your business if Bitcoin goes all the way down the drain in an instant. For this and many other reasons, Bitcoin acceptance will remain low for the foreseeable future. The only way this would change is if the world begins relying on Bitcoin as a standard unit of account. But everything still moves around Fiat, so the odds of this happening are very slim. Hence, accepting both Bitcoin and Fiat would be the only way to go. Just my opinion |
|
|
|
Many people think that cryptocurrencies were created to replace and eliminate traditional banks. This is a common mistake and it is these thoughts that are spread that make the banking system see crypto as a threat to them.
Crypto is the new financial industry and it was created for people with a need for privacy, financial freedom and it's all about personal choice. Its mission is not to kill the traditional banking system.
We should stop spreading this, in my opinion, it would be better if both existed alongside each other.
Couldn't agree more with you, mate. People are totally wrong when they think crypto can replace banks. The latter won't go away anytime soon since governments patronize them every step of the way. Banks will simply adapt themselves to the latest technological trends. It's most likely they will create blockchains of their own instead of embracing existing cryptocurrencies that are decentralized by design. Some banks offer crypto custody services to its customers, but the vast majority of these financial institutions are stuck with Fiat. I don't think crypto will disappear simply because of its decentralized and censorship-resistant design. It will simply co-exist with Fiat for generations. With CBDCs at the brink of launch, banks will only become more powerful than ever. We should focus on making crypto a better alternative to existing banks by embracing decentralization altogether. Who knows how the world's economy will look like with both types of currencies (crypto & Fiat) in play? Just my thoughts |
|
|
|
The end of Bitcoin had been predicted by many "experts" ever since Bitcoin came to its existence. BTC does have its own flaws which are being looked at as time goes by but I don't see technological advancements fast enough in the next 2-5 years that would phase out Bitcoin.
That's certainly true, mate. Bitcoin will only die if a new technology proves to be superior in the future. If something better than Blockchain comes up, then it will be the end of Bitcoin as we know it. But given that Bitcoin is open source, it's likely the community will alter its code to adapt the cryptocurrency to the new technology. If that happens, then Bitcoin would be truly "immortal". The reason why so many people are saying Bitcoin is dead it's because of the low market prices. But deep inside, Bitcoin is alive as ever. The blockchain is still running with thousands of miners and nodes maintaining it. This tells us Bitcoin is not dead yet. Development is still happening behind the scenes, so there's that. No matter how many bear markets Bitcoin goes through it will always emerge victorious because of its decentralized and censorship-resistant design. It wouldn't had been like that if BTC were centralized. We should stop focusing on BTC's price in Fiat terms and start using it as a currency. Not only you'd be contributing to the crypto economy, but you will also be making Bitcoin stronger than ever. Who knows if Bitcoin's constant success will lead Fiat towards its demise within the not-so-distant future? Just my opinion |
|
|
|
|
Show Posts
