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The introduction of Bitcoin opened up the floodgate for the coming in of cryptocurrency into the global market hence we are witnessing the immense growth of this industry all over the world which means that all type and kind of digital assets mushroomed all over with the downside of scams and frauds also taking place. Always positive about this development, I am looking at Bitcoin as an available option for anyone looking at its potential and as a way to be a safe haven as we are witnessing in some countries experiencing runaway inflationary pressures. On a personal level, I am not yet rich with Bitcoin but one thing for sure it has become a major factor in my financial life which always brings me to my conviction that it is an empowering agent people can use for many uses.
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Decentralization will always be a defining factor for Bitcoin and even the whole of the cryptocurrency market. This is where Bitcoin stands really tall and will always be the standard for the many to be gauged with. This is a way for people to get empowered and not be always on chain with profit-oriented financial institutions and the controlling interest of the government.
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There are many good reasons why more and more people are preferring Bitcoin over gold though am not saying that investing in gold can be a bad decision as both assets can be working for anyone. Now, Bitcoin is digital while gold is physical so BTC has no problem in terms of transporting it and hiding it away from the prying eyes of the authorities in case you are looking for greater privacy. We must remember that both got big advantages and disadvantages so if given an opportunity I will be investing in both.
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I understand that when a country's economy is in great turmoil, people will be looking for good alternative to help them financially and save their assets from inflationary catastrophe. This can be the major reason why people in Turkey are turning to cryptocurrency and gold in order to protect their gains and not be drowned in the implosion happening all over. We should also remember that Bitcoin came into being after the financial bloodbath in 2008 which tested many big financial institutions and many of them withered in the process. Surely, Bitcoin can be an affective savior when an economy is in distress.
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Altcoins can be considered as risky and meme coins are riskier and it is because of many of the meme projects in the past and even up to now will just evaporate into nothing leaving trusting and naïve investors behind wondering what happened. However, because there can be a few successful meme coins, people are persuaded that they should be looking for that next big, shining meme coin and make a x1000 killing with the tokens they receive for the money they throw to developers or promoters of the project. And this story will not stop in 2023 all because in 2024 there can be new meme coins to take a good hoard of money from the market. We have become hopeless and addicted to meme coins!
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As part of our human nature, people will always be looking for reasons for anything that happened and in the case of Bitcoin fall there must be a scapegoat somewhere. We have to understand that Elon Musk did not sell his Bitcoin just days ago...what happened days ago was the report of that sell so it could have been a month ago or even more. Anyway, since he bough Bitcoin using the money of his company he has all the right to sell it anytime regardless on what will happen to the market - this is still a capitalist economy we are talking here.
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Regulations and how they are implemented can be a two-edged sword affecting the price of Bitcoin and the whole cryptocurrency industry for that matter. In many cases, when the industry is looking at a regulation to be good and can be helping it, then it would be welcomed as a good news hence it can mirror some positive effect, otherwise it would be getting the other side of the coin. Generally, regulations means recognizing the industry hence they are taken as important step towards more solid adoption of cryptocurrency most especially Bitcoin.
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As I am writing this one, the price of Bitcoin has precipitously dropped from around $30K to the zone of $25K. while many people might take this as something negative, some people like you can look at this dump period like a golden opportunity to further boost one's dream of owning even just one BTC. Now, this is the kind of attitude that can re-energized BTC to where it should be and I am glad that you are taking the cudgels to make your dream come true.
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Bitcoin can rise and fall anytime for reasons we might not be able to immediately fathom...and surely anyone holding BTCs can sell and then even buy anytime. I don't understand why there is that feeling of "hate" or resentment with people or organization who decided to sell their holdings for whatever reason...we must always remember that if Bitcoin will go down in price then we should be rejoicing because it is an opportunity to buy more...as we know that soon it will be rising again like legendary Phoenix.
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This can be good news for the whole crypto industry though we still have to feel any positive effect coming from this Europe-based approved Bitcoin ETF, if there will be. Now, am sure this can be a good sign that eventually an ETF can be approved based in USA which can open up a floodgate of investments for Bitcoin - though indirect it would be. As to the concern that this ETF thing is just a tool of manipulation of financial institutions in accordance to their motive of profits, we have no choice but to just watch history unfolds right before our own very eyes.
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I think people who love Bitcoin is more focused on the coming halving than the anniversary of the registration of the Bitcoin domain which officially starts the name Bitcoin "legally" for the whole world to see and experience. It is ironic to note that this day BTC and many altcoins are experiencing some red days. Anyway, celebration can come in many ways...just remembering the day is one of them. I am just wondering who or what organization is now controlling the domain name of Bitcoin....?
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I made my KYC with the Pi Coin network all within the app but you have to wait for its availability. Now, it is true the coin is not yet tradable in the exchanges and I am really confused as to what some exchanges are selling as you can never transfer your Pi into them. But I made $60 out of my coins because somebody bought them from me and my buyer is still buying them until now though of course the rate is not so good and so little compared to what exchanges are publishing as their Pi price. Since I generated some money on this app, I am not making any complaint so far and am continually mining Pi in my phone.
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I understand that Bitcoin mining is still considered to be a lucrative enterprise so by the time that there can no more BTC to be mined then remaining miners has to do with transaction fees as their main source of revenue. I am sure there can be other opportunities available to them into the future. This is not something we should be worrying a lot...let those in Bitcoin in the year 2140 get burdened with the issue.
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People here are educated in determining whether a new project claiming this and that can just be like that: CLAIMING TO BE. Actually, there is nothing wrong with the concept of this new cryptocurrency but if its promotion is tilted towards more on possible returns then there is more likelihood that it just another soon-to-be scam project. I don't have that details on the people behind this project and the things they can do but I doubt its overall viability. Anyway, good luck to anyone who might bite the offer.
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As more and more stories are revealed surrounding the FTX/SBF fiasco, the more we are enthralled by the level of absurdity Sam and minions exhibited. The avalanche of money really exposed the people behind FTX and they were not able to contain their evil human nature which is unfortunate to the whole cryptocurrency industry. Let's close this chapter with big lessons and a big warning to all platforms operating in the industry to think more of the right things and not be influenced by their imaginary plans not based on doing good. Anyway, no I don't think it can be true that SBF can buy Nauru, in the first place.
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I am seeing Bitcoin as a multi-faceted digital asset and that means it can be functioning in many ways starting as the internet money and now just like gold as a store of value though many can be questioning its volatility aspect as a hindrance of a widespread adoption though there is no question of it being an investment vehicle with possible good returns as time goes on. With Bitcoin, as there are good rewards there will always be risks, there is no sure-fire guarantee that if you are involved here you can be financial free at the time you expect to. Looking at its history, it is actually amazing how the years made Bitcoin as it is today...and I am sure that the next many years can be so exciting as well.
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The market is always expecting that the schedule halving will have an effect on the price of Bitcoin upwards - or what we call as a bull run though nobody can be sure if it can really happen and how long will it last. As we know, the market is moving based on generally accepted sentiment though we should also be prepared to be disappointed at times because nothing is really guaranteed here. Personally, am looking forward for a great 2024 in all of the crypto industry and this is something we should be preparing for like catching an abundance of fish in the ocean.
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I am looking forward for Bitcoin to be moving above the $30K level maybe starting on the last quarter of the year and onwards in 2024 - though I know am not a good predictor of things especially on an investment vehicle like cryptocurrencies. As of now, it seems the price is really frozen at the $29K zone with no clear indication whether it can break through its own barrier - maybe the market is waiting for the approval of any ETF applications now pending in the SEC table under Gary Gensler.
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