I would like to play devil's advocate From this article I read “Unlike the volatility seen around other cryptocurrency’s in the past, we believe that Libra’s focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.” https://www.cnbc.com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.htmlWill Libra Coin bring Down Bitcoin's dominance in the market, your thought? Why will you ever think Libra will bring down Bitcoin's dominance? There are a lot of good cryptocurrencies whose ideologies are bridging gaps seen in the financial ecosystem but these coins haven't been able to bring down the dominance of Bitcoin. Libra will just be one of those coins below bitcoin. |
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If regulation never come anytime sooner can we protect ourselves? how can we protect ourselves from crypto monsters hiding in disguise, especially bounty projects coming into crypto space with full force, any ideas ? I know many are going to say we should do better research before promoting projects, is there any strict blows we can give these monsters by ourselves ?
Regulation is never gonna come. How can you regulate something that all transactions are made privately ? You just have to be aware of the purpose of any project you choose to promote. Researching about the project is only thing you can do to protect your yourself from crypto monsters. |
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In relation to the profitable of holding Bitcoin, it will solely depend on individual understanding of how the entire Bitcoin ecosystem works. In as much that people think there are some kinda manipulation done by people with huge amount of Bitcoin, a long term hold will only be worth it when you understand where the market is moving towards. In 2018 for instance, a long term hold from the middle of the 2018 would have been worthless in the first month of 2019. Understanding the market is the first time that can help you know whether a long run hold will be worth it..
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Cryptocurrency itself as a digital currency is not really better than fiat currency but the system (blockchain network) that cryptocurrency operates on is rather better than the system that runs fiat currency. Thus, the centralized nature of the fiat currency ecosystem does not allow financial freedom, whiles that of the cryptocurrency presents financial freedom to everybody in the ecosystem...
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How do you see Bitcoin 10 years from today?
No one can really tell the specific future of Bitcoin for the next 10 years. But the only future I see for Bitcoin in the next ten years will be massive adoption of it into the mainstream financial ecosystem. Adoption is the only future I see for Bitcoin. |
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From my personal observations, the price of Bitcoin is not gonna drop down to $5k anymore. The lowest price it is likely to drop down to is $7k. The rise and fall of Bitcoin is not anything new to a lot of people in the crypto space. The decentralized nature of the entire Bitcoin blockchain network is the major contribute to its price fluctuations.
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Is Blockchain equal Bitcoin?
Blockchain is never the same or equal to Bitcoin. Blockchain is like the system in which controls and keeps record on data or information stored in it. Bitcoin on the other is just a digital representation of currency which uses the blockchain system as the central brain control how it is stored and transact from user to another. Bitcoin can never operate without Blockchain, whiles blockchain on it own can fully function as a data ledger. |
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Bitcoin will be moving back into the $10k zone very soon before october comes to an end. In as much that Bitcoin might be struggling at the $8k at the moment, i see it entering back into the $10k zone before october comes to an end.
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Considering the patterns of the market value of Bitcoin from the beginning of the year to now, it is very possible that we meant witness Bitcoin hitting $20k before or within the first quarter of 2020. My assumption is based on the instant increase in the value of Bitcoin within May,June and July this year. It is also very possible that the value might also drop to $5k.
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in 2028/2029 is my guess  Lol.. This is a wide assumption and guess. I don't really see Bitcoin hitting a million dollar soon. The bitcoin market is too young to hit $1 million any moment soon. But we all wish it will be worth a million dollar. |
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Bitcoin price slipped to $ 7,800 Many experts have foresaw Bitcoin's downturn as all eyes are on Golden Week * in China. However, when the Chinese return to the cryptocurrency market this week, will they decide to buy at the current bottom? Or will they continue to stand out of the game to watch the support break down? (* Golden Week is a policy applied in China since 1999 for two important holidays: Chinese New Year and National Day (October 1). Before 2007, Chinese people also had a "Golden Week". "Tuesday is International Labor Day May 1.) If you are interested in cryptocurrency exchanges, you can refer to: https://vakaxa.com/vi/dich-vu-lam-xay-dung-va-phat-trien-san-giao-dich-tien-dien-tu-uy-tin/bitcoin-today-today-about-7800-usd [1] Overview of Bitcoin price and cryptocurrency market today (October 7). With Bitcoin's daily price chart, the usual price range is $ 7,600 to $ 9,500. When Bitcoin is put into the sideway, the buying and selling forces will fall into equilibrium. At the same time, the market is about to have big fluctuations. Therefore, Bitcoin is best to keep a stable support level of $ 7,120 to gain momentum in the near future. If not, the market could witness a new plunge. You can read can track Bitcoin price today right below: Bitcoin (BTC) $ 7,923.84 (-2.57%) Rank first MCap $ 142.45 B Volume $ 13.39 B The drop or rise of the market value of Bitcoin is not really anything new to people in the crypto ecosystem. You just have to take advantage whenever the market value drops. In January this year (2019), Bitcoin was worth around $3400, people who took advantage of this drop and bought some bitcoins make twice and triple in June. Just take advantage of this drop. |
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"I told you so" comes to mind.
I warned everyone in here again and again in the beginning of 2018.
Get out of Bitcoin as fast as you can to limit your losses.
Everytime so-called "experts" and "investors" in here said to HODL. Bitcoin would soon go to the moon.
Only the most blind and stupid still believe Bitcoin will ever recover.
The sooner you get out, the smaller your loss. If you wait, you can be sure the loss will be even bigger.
Blockchain technology has a great future, but cryptocurrencies - any crypto - are a dead end.
Every investor has a particular reason why he/she invest or hodl bitcoin or cryptocurrency. If you choose to exit now, exit in peace. The drop or rise of the market value of Bitcoin or cryptocurrency is meant to happen due to the nature of the crypto market and decentralization. Once blockchain technology exist, there is no way cryptocurrency is gonna die.... |
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In as much that movies have great impact influencing people in so many ways, a movie about Bitcoin will not really have a great impact on people to influence massive adoption. This is because there are already movies about Bitcoin and cryptocurrencies but they are not really influencing people to use bitcoin or cryptocurrency. I don't really think that will be very necessary..
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We are estimating Bitcoin supply to be completely mined by 2140 and there won't be any Bitcoin left to mine. At that time, reward for miners would be only from the transaction fee (not sure enough tbh). Do you guys think that the transactions fee are enough for miners to make profit while today we always want to pay transaction fee as low as possible?
What's your opinion about this?
In 2140 the block reward resets to 50, meaning BTC's inflation continues growing indefinitely, forever. This meant cause a drop in the value of Bitcoin. I don't agree with you on this. The possible way I see miners getting rewarded will be the use of transactions fees. As it stands now, transactions fees taken for every transactions made on the Bitcoin blockchain network are not given to miners. Where do you think these fees go to ?? I believe they are stored somewhere to be the next payment option for miners when all the bitcoins are mined.. |
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In fact, there are two scenarios, either mining can change or it will disappear
There is no way mining will disappear but for the changing aspect, that might be possible. Transactions can't be made without mining, so there is no way mining will ever disappear.. |
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Lack of knowledge is the principal reason why people get scam in the crypto space. Knowledge is the main element needed to understand any crypto projects in the crypto space. People are always ready to take advantage of ignorance of other people to rip out their money through scams and ponzi schemes. In as much that greed can also be a reason why people get scammed, I believe that it is a fruit of lack of knowledge. Inadequate knowledge about a project can make you develop greed...
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How do you expect any altcoin to replace Bitcoin when Bitcoin was the source used in the development of all altcoins. It is simply a fact that Bitcoin is irreplaceable and serves as main king of cryptocurrencies. Bitcoin is the most accepted crypto coin in the crypto space since it introduced blockchain technology which is the heart beat of the entire crypto ecosystem.
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Fiat currencies will always be in existence since they act as the main thing that is backing cryptocurrencies. And moreover, it will be very difficult to represent fiat currencies with cryptocurrencies since only about 5% of the world is currently aware of the eistence of cryptocurrencies. In my country for instance, when you randomly select 100 people from the street, you will only get 2 to 5 people who have heard of cryptocurrencies. And out of these people, only one person might own a crypto coin. These two currencies can only co-exist rather than the other replacing it.
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One of the most important feature of cryptocurrency is its being irreversible. One the coin is sent, the only way for it to be back to the sender is if the receiver will do the same thing in reverse. Now, in cases of hacks, scams and frauds, it means that you better forget what you already lost as there is no way for you to recover the lost coins.
This irreversible nature of cryptocurrency is one of the weakness of it that make people to find it difficult to adopt and use cryptocurrencies. In as much that this is weakness, it is also a strength because it makes users to be more careful whenever they are either sending or receiving funds. It also makes users keep their private keys safe from any third party since transactions made are not reversible, the third party can easily steal your funds once they get a hold of your private key.... |
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Yes indeed Bitcoin is the king and father of all cryptocurrency. Bitcoin is the reason why there are existence of all other cryptocurrencies in the crypto space. Even if the market value of Bitcoin drops, its market cap and volume will also be superior among all the remaining crypto coins.
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