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I personally think that the year 2020 is the year we saw the rise of the crypto, with the pandemic of course shutting down a lot of the systems during the first months of the year, but by the end of the lockdown i feel like companies and investors were open to trying a lot of new things, since the option of working from home started becoming a viable option, new ideas have been put on the table, and cryptocurrency seemed like a good option since online shopping has become more used back in 2020 so adding bitcoin and other crypto payment options was a good option.
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It's really a tempting period for Bitcoin investors considering the constant dip we have been experiencing for a while. I was once adviced to sell my coin when I had an issue that needed money urgently but I objected it took me quite a long time to hodl and loosing them now isn't a healthy idea at all.
If I sell off my coin I might not be opportunied to buy back the coin at the exact rate I bought the previous one and had to come to a concrete decision of not selling my coin no matter the consequence. Yes it's going to be a different story if it turns out negative but what if it turns out positive. Vertually everything about life had two faces been the negative outcome or the positive there is hardly any in-between and so for me I rather take the risk and face what ever comes my way in the near future because risk is a necessity as far as investment is involved.
If it turns out positive certainly the joy would be all mine and certainly a portion of it would be rubbed on people around and if it turns out the opposite direction then I bear my loss alone. It's really my cross to bear and making this decision was out of a deep quite time I had while I was wondering if I go ahead to cash out or I maintain my hodl and from all indication I just have to maintain my hodl till I get my reward no matter the manner it would appear.
A lot of people have the same idea, but the real question is when you say that you will never sell and you will just hold what is that gonna get you, what is the point of having bitcoin and all this profit if you are not gonna enjoy it while you can, or use it while in need, sure you should hold your bitcoin and think strategically about when to sell or when to buy but you also need to think strategically about finding the balance between holding and spending it , because you don't know what the future holds for you. |
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El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing. What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.  The fact that the president is making so much effort into making bitcoin the number one payment method in the country, and moving it to the digital age is an inspiration, sure El salvador is not one of the biggest countries that are powerful, and to be honest i didn't even know it existed up until now, and to see how people all over the world are talking about it, puts it under the spotlight and makes people want o know more about, will it become the bitcoin capital the answer is no ,because bitcoin is decentralized and can't be confined to one place, but it gives motivation and inspiration to other small and big countries to follow its steps. |
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It is said that Bitcoin is the precursor of the "One World Currency" that will be used in a "One World Government". In the past, it has been predicted that a "One World Currency" would come into fruition as the current monetary system collapses in its entirety. It is today where we have Bitcoin, a Peer-to-Peer digital cash system that's decentralized, used globally by many people worldwide. Essentially, Bitcoin is a "One World Currency" although not backed by any government or trusted entity of any kind. What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks I really don't think that bitcoin is in any position or on its way of becoming a one currency that is used all over the world, and that is due to a lot of issues and a lot of problems, lie high fees and long transaction time, and these pose a problem when it comes to the day to day or microtransactions that people usually do, like shopping or paying for small things, so unless this problem is solved i don't think that people would prefer to use bitcoin over the normal payment methods. |
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Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.
Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.
As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.
Well obviously bitcoin is not that safe, and that is due to the fact that it is not controlled by government and there are a lot of them that are trying to ban it, and enforce users not to use it, and if we reach a point where a large portion of the world totally bans it, we would be faced with bitcoin losing many people and that would most likely affect it heavily. |
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The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?
I highly doubt that the mining will stay at the same rate as it is right now, probably a couple of years from now they would make it a lot harder to mine bitcoin, therefore the price would get high, and assuming that we reach the point where no bitcoin can be mined, the more people hold the higher the price it gets, and that means that the price is going to be less volatile and maybe we will see it becoming a days to day payment system, that we can actually use for small transactions. |
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Bitcoin and Ethereum are more likely the best option for long term investment, not only because of their value, but for example Ethereum has a wide variety of development options that rea being used in many new concepts that are changing our lives, so it means that it has a bright future to look forward to, and bitcoin has a large and supporting community so no matter what happens and now matter how hard things get it will always be on top, and the current situation really shows it.
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Them banning crypto and bitcoin first and now going back and trying to make it work, seems like the plan that they were plotting for a long time, they are trying to create their own cryptocurrency that is going to be centralized and controlled by the governments, which means it is just a digital replacement to fiat, and i don't assume they ahve any plans to use bitcoin as a currency because they have no control over it and i think it would still be banned.
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I think that the popularity of the cryptocurrency nowadays and the huge wave of people that are investing money into it now, sis due to the fact that it has become a trend, and how many influencers and big names are investing in it , due to the fact that the price is high and the market is volatile there is a large amount of money that can be made from, both in the long and short term, and people are trying to get rich fast and want profit so i think that is the reason why it has gotten really popular these past few years.
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The banking system is constantly operating, with and without covid, there will still be deposits and withdraws, from business that offer services to online shopping and many different systems, so it may be true that things will slow down heavily, but i don't think to the point where the whole banking system would collapse, and if that happens the government wouldn't just sit and watch, there are a lot of solution to the problem if it comes to that point.
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In my opinion, i think that bitcoin was created at first to counter the government system, it came to to move from the control forced to us by the system, and with bitcoin getting more and more attention we see a lot of government either banning and taking severe actions against the people who use it, government are controlled y people with limited vison and they only care about their own investment and about the things that they can control, and bitcoin can't be controlled by anyone, so i don't think that bitcoin will ever reach a point where it is fully used in every country.
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The Uk banning the use of binance was and old news, and the team was already aware of it, i am surprised that they haven't found an alternative a long time ago, since they would be losing a large number of users from uk, and i am even more surprised that the banks are actually taking an action to prevent users from making transactions with binance, and by the time that they finnd a way to bring it back to uk people would have already found an alternative and won't go back.
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nothing lasts forever, and every system is always replaced by a faster and better one, like fiat came to replace gold, and bitcoin came to replace fiat, and who knows about the future maybe we will have a new system that replaces cryptocurrency, but bitcoin is still early and it is still not adopted as much as we want, which means we still have a long way to go before it gets replaced, but in my opinion bitcoin is still not in a position to be used a full replacement to fiat.
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Actually it is not true, if you look back and try to search you will find that the concept of the blockchain technology was created way back in the early 1990sn, bitcoin is a use of this network, as bitcoin is cryptocurrency that was first made its first transaction back in 2009, and up until 2014 blockchain was only used for cryptocurrncies like bitcoin and ethereum, where it became usable in a wide variety of things and it still has a potential to grow even more.
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the current state of the crypto and bitcoin, does not allow us to fully move towards using them, love it or hate it we live in a fiat society and we still have to use banks even if we don't trust them, i personally don't like banks because they can have full control over my funds and my transactions anytime they want to, and because my real life job requires me to have a banks account to receive my salary i can't stop using banks and move toward crypto in a full way.
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sure it is hard to control bitcoib, because its decnetrelizd and it will take a lot to manipulate it, but you have to take in considiration that bitcoin is made by humans and operates because humans use it to make transactions, the more transactions that are made to stronger it gets, and if at some point poeple wanted to shut it down they can, i mean one man was able to havealy influne its price by just making an investment in it and pulling out, and if governemnts wanted to shut it down they would ban and put in jail anyone who is mining it.
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With everything in the world, there will always be somthing that comes in the future to replace the ones that exist, like what happend with fiat years ago that came to replace gold, bitcoin and cryptocurrency are here to replace firat, and who knows in the future another faster and better system is gonne come and replace cryptocurrency, but you have to keep in mind that we are still in the first life cycle of the bitcoin and cryptocurrency so there is a long way to go, before it gets replaced.
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes? If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
The price change that you are talking about is only good for people who are investing in bitcoin for the short term, they are waiting for the right time to sell thier coins, and with influncers and big names saying that they will invest in bitcoin it is the perfect time to do so, because they can haveilay influnece the price, and the best exemple for that is Elon musk and his company, when they annonced that they are investing a billion dollar in bitcoin and they are accetping it as a payment method, the price skyrocketed to 60k and as soon as they said that it cause enviormental probelms and they are pulling out their investment the price went down, and also a simple joke from elon musk about dogecoin made it go up by nearly 3000%. |
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all they are are just a bunch of angry boomers they are trying to bring down bitcoin and cryptocurrency because they have been saying for years that it is a bubble and it is not worth investing in it, and for time to prove them wrong they will do and say anything just to bring it down, and governmment having the ability to reverse transactions is a stupid idea and shows how they have no idea about how the blockchain and cryptocurrency work in the first place.
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in 100 years there are many possible ways that the bitcoin go, either it vanishies and people forget about where another system better faster replaces it, or it becomes the normal, the day to day payment method that we use for all our transactions, but i really think that the bitcoin has a large community and poeple who belive in its cause and will always support it no matter what, unlike all the altcoins that have been developped and forgotten.
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