The risk of investing in cryptocurrencies is indeed very large. for anyone who is not prepared to risk price fluctuations then they will regret it. Like the Luna holders who bought LUNA for around $100, they went bankrupt and of course went through tremendous mental stress, millions of dollars instantly became thousands of dollars.
Same is the case with other altcoins or Bitcoin. Bitcoin cannot be used as a safe haven asset because bitcoin has a high volatility. if you have safe haven assets, it is better to switch to gold or property. Bitcoin is only used as a high risk high return investment.
Exactly. The high volatility is what kills Bitcoin's ability to be used as a safe-haven asset. Gold is volatile too, but at a lesser degree than Bitcoin itself. Who'd want to rely on something that's constantly changing in value over time? With what happened with LUNA lately, I'd think twice before relying on any cryptocurrency as a long-term investment. Bitcoin may be the strongest cryptocurrency in the world, but it's not immune to a high drop in price if things go wrong in the long run. Ultimately, it's all about minimizing risks. As long as you diversify your investment into more than one cryptocurrency, you'll have nothing to worry about. Just my thoughts  |
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It is definitely not the same, bitcoin has been accepted by banks and higher institutions, companies and countries are adopting it as a payment method. It is getting more popular day by day. Many years from now it may become a global currency. If a bear market occurs again it will not be as fierce as the last one, I believe Future for 100,000$ BTC is possible.
Crypto is more popular now than it was during 2018, so what's happening now cannot be compared to what happened a few years ago. Of course, prices have been going downhill at a fast pace. But that doesn't mean it's the end of the world. This is only temporary as the best is yet to come. If you've been into crypto for some time, you'll notice that prices bounce back after every BTC halving. That's because people buy more Bitcoin due to the FOMO (Fear of Missing Out) sentiment. With a bullish Bitcoin, altcoins will soar like crazy. I would just accumulate more coins to cash them out in the future. Who knows if you double or triple your investment in no time? Just my thoughts |
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Out of all the factors that you have mentioned here, the major reason that prevents Bitcoin from massive worldwide adoption is the first one. China, Egypt and other anti-crypto countries are some of the examples of this. On top of that, most of the countries are in the ‘“grey” area where Bitcoin is neither legal nor illegal because of its certain risks to protect the investors. Scams and frauds using Bitcoin are also a “concern” too for some countries because it doesn’t require government or 3rd party approval. Government and banks want control of it, but they can’t because it’s decentralized but provides transparency of all transactions where it can be easily traced.
Governments are the ones who're interfering with Bitcoin's adoption worldwide. But they're not the only factors at play. As you've said before, scams, theft, and hacks are also one of the reasons why most people are afraid to use Bitcoin in the first place. While the same thing happens with traditional Fiat, people seem to trust it more than Bitcoin because it's backed by the government. At least, there's been some progress on Bitcoin's mainstream adoption over the past years. With ever-rising inflation rates from traditional Fiat currencies, more people are beginning to notice Bitcoin's true benefits. We should give it more time to mature until it becomes a "force to reckon with". As long as decentralization wins, nothing else matters. Just my opinion  |
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It won’t be possible.
Neither in 10 years or 50 years.
BTC cannot be accepted as a world currency.
The main reason for this is that, Bitcoins are decentralised in nature, that is, it cannot be controlled by the government.
For this reason, many governments are not at all showing positive attitude towards Bitcoins.
Rather i have heard many government are planning to launch their own crypto, which they can regulate themselves and can impose tax on it.
Moreover there is no need to accept Bitcoins as a currency, we can use as a digital asset and can sell it whenever we need hard cash.
Bitcoin will never be accepted as a world currency by mainstream governments, simply because it's decentralized. But people themselves will use it globally as it lives around the Internet. So even if Bitcoin doesn't become recognized as a global currency by mainstream governments, it's still a "world currency" since the Internet is available almost everywhere. The pioneer cryptocurrency is slowly growing in mainstream adoption, so it should only be a matter of time before it becomes Fiat's biggest contender. What really matters here is decentralization. As long as Bitcoin is able to remain that way, no one will be able to stop it. Who knows if it's still around with us 50 years from now? Just my thoughts |
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DOGE is a great tool for short-term speculations but definitely not a good one for long-term investment. Although it's backed by the richest man in the world so it might have a bright future.
Exactly. Only a fool would think Dogecoin holds the key towards untold riches. It was never meant to be taken seriously in the first place. With a high supply and abandoned development, Dogecoin only serves as a short-term investment than all the other way around. Elon Musk is just backing DOGE in order to get what he wants (which is pumping the coin to cash out big profits). If people think that DOGE has a bright future because it's backed by Elon Musk, then we're off to a bad start. There are a lot of worthless "meme" coins on the market that came after the DOGE craze. Whenever they'll survive or not will depend on mainstream demand. What ultimately matters is not how much money you'll make with crypto, but rather what you can do with it. As long as there are real use cases for Dogecoin, nothing else matters. Just my opinion |
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There is no such thing like right time to make investments. Every car is moving on road going to its destination. there is no such thing like which is ahead or which has lagged. Life is not a race, its a journey to enjoy and you will have your time to make right moves in future as well just stay aware and active.
Ignorance is a bliss knowledge is enlightenment, its your choice to make
It's never late to join the party. As I've always said, Bitcoin is still in its very beginnings. It has achieved a lot since its inception, but there are many things that are yet to be discovered and improved. With every bear market, comes a big investment opportunity for those missed the train. When to get in or out, is entirely up to you. Imagine getting in now when Bitcoin is still below $100k. You'd have astronomical gains once it skyrockets like crazy! As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my thoughts |
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This thread by Kim Dotcom has a relevant Twitter discussion on the state of the U.S. economy: https://twitter.com/KimDotcom/status/1525293982133407744Summed up in the above thread, USD is in a particular fragile state. USD currently is interlaced into the global economy and highly reliant on future economic growth for solvency. The problem is, if the economic growth is stalled for any reason, it won't take much for people to lose confidence in USD and for the U.S. to default on his debt. Take this problem, and accelerate its severity ten fold post COVID spending. In some world, USD collapsing would be the closest to Bitcoin acting as a global currency. But that is only if there was such a rupture in the global economy following USD collapse. That's not entirely realistic because it isn't fair to make the assumption that one currency crash would cause a domino effect. To add, it's not as if the Chinese economy is doing particularly great either. USD and Yuan collapses, now that would be interesting. If all Fiat currencies collapse, then hyperbitcoinization will become a reality faster than you could've imagined. Otherwise, not. I'm basically in no hurry to see this happen, as long as Bitcoin proves itself to be a decentralized alternative to Fiat. Usability is what matters above all else. Slowly but surely, adoption will increase due to the raising concerns of inflation on the mainstream economy. No one knows what will happen in the future, so we can only hope for the best. Just my thoughts |
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There is difference between going and gone, Luna decreased to $0.000005 if truly it has grown 100x back because its price now at $0.00025
That is correct. But LUNA is still far from its ATH. A few weeks ago, it was valued at around $80 per coin. I get the collapse was due to the team's negligence, but we cannot discard the possibility of a recovery if the community acts in a timely manner. The CEO announced a proposal to hard fork the blockchain, so chances are there will be a recovery soon if it's approved by the community. Either way, investing in LUNA right now is a gamble so I'd advise anyone to proceed with caution. Just my opinion |
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With how Luna turned out, an investor would be paranoid which of the tokens in his portfolio be the next that will pop because if it does have a stablecoin in its platform, its could very well likely be attacked.
But its not the only reason why they are scared, its because were in the bear market. The fud and fear come along with tragic Terra Luna's demise.
The bear market alongside LUNA's collapse will scare away investors within the short-term. Long-term speaking, things will get better as crypto/Blockchain tech continue to take the world by storm. Even though prices are going down at a fast pace, development is still happening behind the scenes. Cryptocurrencies will become much faster and cheaper than before as new scaling techniques are implemented into the Blockchain. With the upcoming ETH 2.0 upgrade, the increasing adoption of Bitcoin's Lightning Network and new "De-Fi" platforms with attractive features, crypto is bound to become Fiat's biggest rival in the future. As long as decentralization prevails in the long run, nothing else matters. Just my thoughts |
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Because the Fed is tightening the balance sheet through QT and rate hikes, causing investors and speculators in risk assets, like stocks, commodities, and cryptocurrencies to sell. But ser, in Bitcoin's situation, ZOOM OUT. It has increased by MORE than ten-fold from under $1.00 to more than $10,000, and in my opinion, still in its path of price discovery to $100,000.  That sucks. I thought Bitcoin's price moved regardless of what happens in the real world. But now, it moves along with the stock market and what actions central banks do against the economy. This way, Bitcoin and other cryptocurrencies cannot serve as an alternative to the current financial system. There are still a lot of people who don't know anything about Bitcoin, so I'd say we're still in the very beginnings of crypto's mainstream adoption. With what happened with LUNA lately, it's going to take a little longer before the crypto market rises back to its former glory. As long as everything remains decentralized, there should be nothing to worry about. Just my opinion |
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I recommend Monero, it's the only privacy that matters, rest of the privacy coins are vaporware or have serious flaws that can compromise your anonymity and privacy. i keep filling up my bags with xmr with every dip. Pulled the trigger last week when it went down to 0.004btc, and i'm already in profit since it'll probably touch 0.006 this very same week, i'll probably sell some if it touches .007 and add the rest to the long-term bag.
If only Monero had the same mainstream attention as other coins, it would've been a great long-term investment. I guess being a privacy coin itself does come with its downsides. Without much support across mainstream exchanges, how would Monero reach a new All-time-high all by itself? At least, the Blockchain is alive and healthy after all these years. As long as remains useful, it'll last a lifetime. Who knows if people turn their attention to Monero after government surveillance worsens over time? Just my thoughts |
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The problem is always the pegged asset.
Even USDT it self, have some rumor they're not 100% backup by real money (USD). Some rumor or speculation USDT only have backup by real asset around 50-65% from the total circulation. Also, your USDT asset can be froze by them.
IMO, never hold with a long term for the asset who are not 100% backup by the asset and the audit still unknown + don't trust asset who can frozen you. $LUNA issue make people are worried and not trusted with the word of "stable-coin".
If only the industry was more regulated, headaches like UST's "de-pegging" from the US Dollar would've been avoided in the first place. While this would make saving money on stablecoins no different than saving money at a bank, it would bring a level of confidence among investors and traders alike. Let's face it, there's no stablecoin that's guaranteed to hold the peg except centralized ones backed by real world reserves. But even a centralized stablecoin like Tether can be shady at times. People need to learn that crypto does come with its risks, instead of being all "reds and roses". May the current situation be a good lesson to all of those who invested their life savings on LUNA/UST. Who knows if this motivates other developers to improve algorithmic stablecoins for the better? Just my thoughts |
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Major cryptocurrencies have been on a downfall this past week, as investors lost confidence on Terra (LUNA). Bitcoin, as well as, Ethereum, Cardano, and several other "blue chip" coins are being traded at a discount these days. This could be a huge buying opportunity before prices bounce back to their original levels. If Bitcoin is predicted to reach $100k, then imagine how altcoins will rise in price. Buying the dip might be the best thing you could do right now. If you're into crypto for the long haul, you'll know what I'm talking about. That said, I'm curious to know if you're buying the dip? If so, I'd like to know which cryptocurrencies do you think are worth the investment for the long term and why? Your input will be greatly appreciated. Thanks. |
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This past week has been all about LUNA's downfall in price and how UST lost its peg at a very fast pace. Many investors lost their money as the cryptocurrency went from being worth around $80 to just $0 in a few days. There's a lot of FUD surrounding crypto right now, especially with Terraform Labs' inability to restore the peg. If LUNA doesn't recover, this could lead the whole crypto market towards another direction. As promising as crypto/Blockchain tech is, things like this greatly damages its reputation. Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks. |
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The US Dollar's inflation is on the rise as the pandemic coupled with the Russia-Ukraine crisis have damaged the global economy. Any negative effects on the US Dollar will surely affect other countries' economies, since it's the world's reserve currency. Considering that inflation has increased at a fast pace since the start of 2020, scarce assets/commodities like Gold and Bitcoin should've increased tenfold by now. Yet, Bitcoin is struggling to reach a new All-time-high in price while Gold's been unable to get past $1.9k. In the crypto market, Bitcoin is the one cryptocurrency that moves everything with it. So if Bitcoin goes down, so will the rest of the other coins being traded on the market. My question is why isn't crypto rising in price if inflation on major Fiat currencies have soared like crazy? Am I missing something here? It's a shame since Bitcoin was long hailed to be a safe-haven asset like Gold. Your input will be greatly appreciated. Thank you. |
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Terra (LUNA)'s been going downhill at a very fast pace ever since UST lost its peg a few days ago. It went from its ATH of $120 to just $0 in a few days. Right now, the cryptocurrency is struggling to reach $0.01 as investors continue to sell it like crazy. Supply is increasing at a very fast pace, as the team tries every effort possible to help restore UST's peg. Given how low Terra has fallen, I wonder if investors will gain back confidence in the project sometime in the future? Crypto is highly risky so either LUNA dies or rises from the ground up. What do you think? Are there hopes for LUNA to recover some time in the future? If not, why? Is it a great idea to buy the dip now? Your input will be greatly appreciated. Thanks in advance. |
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I would just ignore those folks and usually, these people that make fun of the market aren't really investors. Or probably, they were once in a while and then got rekt.
So, they make fun of the market and usually live with the memes that are too funny for them when they see and know others are struggling with their investments.
Well, the last laugh is still with us. It's just a matter of time.
It really doesn't matter what anyone says against Bitcoin, as long as it works as intended. Facts are what matters most above all else. We should expect haters to constantly bash Bitcoin since they don't want anyone else to gain all of the benefits. As you'd said before, we'll be the ones laughing at the end as Bitcoin is set towards non-stop success. One thing for sure is that countries adopting Bitcoin as legal tender are increasing at a slow and steady rate. It should only be a matter time before the cryptocurrency becomes a force to reckon with. Fiat will continue to collapse as inflation rises like crazy. Who knows what the future will look like with Bitcoin as the epicenter of the mainstream economy? Just my thoughts |
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If they arrive right now it is not too late, for me the BTC while it is below its ATH is a great time to buy, of course this is a way for me to see the market, because the next BTC ATH will be very large, under what What I have in mind without exaggerating, I think it could reach $100k or even much more, but since it is the most psychological price, what reaches $100k can present many massive sales, so I think that when it reaches $100k it can reach to have a setback and from there it can continue to rise, I think investors can see it that way.
It's better late than never. Just like you said, Bitcoin is way below its ATH, so right now is the great time to buy coins to save them for the next bull market. Anyone who doesn't invest now is missing a great opportunity for profit in the future. It's not because I'm saying it, but just because of the fundamentals behind Bitcoin that tells me it'll be worth much more money in the long run. Despite other altcoin's shiny new features and high performance blockchain networks, none are able to match Bitcoin's level of decentralization, security, and reliability. It's been 13 years since BTC's inception, and its position in the market has been untouched. Who knows if people who join the "Bitcoin party" now will be the ones laughing at the end once it reaches a new ATH in price? Just my opinion |
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It certainly is a coordinated attack against cryptocurrencies. Crypto is extremely new to be liable for even 5% of conducted illegal activities. There are certainly ongoing activities in the Darknet, revolving Bitcoin, but that's just the tip of the iceberg. I never claimed myself that it's a replacement for fiat, these two could easily co-exist, with a few regulations probably, I don't get why governments are so negative regarding their adoption.
Of course. Governments don't want people using crypto because it removes their ability to control money. With a decentralized system as crypto/Blockchain tech, it's nearly impossible to confiscate, freeze, or even manipulate someone else's account at governments' own will. It's the first time in history where money gets separated from the state. Just like the Internet, crypto is a double-edged sword. People can use it either for good or bad things. As much as crypto is claimed to be used for illegal activities, the truth is that Fiat is the one used mostly for said purpose. It's all an effort from governments to drive as much people away from crypto as possible. I wouldn't worry about what they're saying against crypto as long as it works as intended. Just my thoughts |
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It doesn’t seem so in the near future. But no one can say with guarantee seeing the increased popularity of crypto.
With how fast prices are declining, it's very unlikely we'll live in a "hyperbitcoinized" world in the near future. There are many things to be improved upon and discovered for Bitcoin to reach that level of adoption worldwide. I'd say we're in the very beginnings of crypto/Blockchain tech, even though it's only been 13 years since Bitcoin's inception. Slowly but surely, countries are adopting Bitcoin as legal tender in order to help make the dream of "hyperbitcoinization" a reality. First it was El Salvador, and now it's the Central African Republic. If popularity continues to increase, it's possible developed countries like the US and UK will adopt Bitcoin as legal tender. For what I know, anything's possible in crypto. Who knows what the future holds for the entire industry? Just my opinion |
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