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In a sense, Yes, bitcoin and gold have common similarities.
It's active. Gold is a physical asset and bitcoin is a digital asset.
Extraction. Gold is mined machine method, likewise, the mined bitcoin, computers, the same machine.
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Every century of our evolution is the progress associated with something very important.
Starting from the creation of a light bulb, a car, a train, a phone, a computer, the Internet and ending with cryptocurrency.
Every century brings to mankind a very valuable contribution that people should use correctly. In the 21st century, we have digital money. Let's just say the Internet has opened up the possibility of trading at a great distance and in a fast time. It's really amazing. The cryptocurrency can be much wider to increase opportunities for trade and marketing.
You're talking about decentralization. Yeah, that's a problem now. More and more States are beginning to infringe on ordinary people. Full control over accounts, money, actions. Banks and the state can know all about your movements. Which basically violates your Constitution. Freedom... she's gone, just like she used to be. Don't you think?
Therefore, money should really be decentralized, we should be able not to show everyone how much we have
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If to speak more globally, why China prohibits ? There is such a thing in the economy as the outflow of capital. If large investors withdraw from the yuan country, the country will experience an outflow of investment outside the country. In the Communist society of China, the main prerogative is the development of the economy of the country, not its neighbors. For this reason there are disagreements in the power. Some believe that it will be better, and the party believes that it is not right. If we talk about my attitude, Let me give you an example. So Look, I'm a collective farmer, raising Pets. It's time for me to sell my cows. I am looking for the highest markets, where the price is the most favorable for me. I found in another country, 100km from me a very favorable price. I go to sell my fresh meat, and they say to me: "Farmer, where are you going? you in our country only should sell!"And in our country it is not so profitable. Low price.... here's an example of the Chinese economy... |
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Africa isn't "a large segment of the world economy",actually it's a relatively small part.I remember that the African GDP was more than 1 trillion USD,which is very little,for a continent populated with 1 billion people.
I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.
You're saying it right. Africa is a poor country, in which there are a lot of problems, as in the economy, in the environment, in education, etc. But it is a very rich continent, where a large number of resources, oil, gold and other minerals are concentrated. When the moment comes that the resources will be used for their intended purpose, as for example did the Arab Emirates, then you can talk about a large segment of the market. And so it is poor countries in which even many do not know about bitcoin. |
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If the United States Dollar loses its value then I am pretty sure that people will begin to use a different Currency (Gold). Since Gold been around for a while I am pretty sure that the people in the IMF want to group Gold with something that they can build as well so they won’t feel so powerless when they make Gold as a payment option.
Bitcoin does not seem like the thing that people will want if it’s not really tied to anything.
I don't think gold can be a good alternative to the dollar. It's not a currency, it's physical an asset. you will eventually even hold them in your hands can not, it will be stored in Australia in storage. So if there is a problem with the dollar, the alternative might be (1) Euro 2) Chinese yuan 3) Swiss pound 4) and of course bitcoin |
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I have seen the price of bitcoin is very high and has exceeded 15000 $ for one bitcoin, and now the price of bitcoin is under 10,000 $ and maybe this is my chance to buy bitcoin as much money as I have and hope to get enough profit for my economy in the future.
am I wrong with this step?
Your economy? Your future may change if you are willing to invest in bitcoin for 5 years. And in 5 years you will be ready to cash bitcoins. I don't see any point in a short-term investment in bitcoin. |
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You all talk about decentralization, but it is not profitable for the state. Therefore, banks, the state, private corporations are trying to create a centralized blockchain, which is located in their jurisdiction and stored on their servers. For them it is convenient, but for the system itself  who knows?.. |
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Some people are celebrating the strongly increasing hash rate of #Bitcoin. Difficulty skyrocketed in the last months, it is now almost 5 times higher thank start of the last rally ( Oct ‘17 was 1e ^12 now well over 5e^12). This makes network way more secure, but this might be a sign that the bear market will continue for quite a while.
When the price increases, hash rate cannot follow very quickly. This means that the miners make a big profit and only a small fraction of the mined bitcoin are enough to cover their costs. (Electricity, mainly). Thus, they don't need to sell all new bitcoin and can hodl.
When the hash rate slowly adjusts to the increased price, the margins start to decrease and more bitcoin must be sold to cover the costs for mining. The price pressure increases.
Assuming a constant absorption rate measured in $, the price will start to decrease until an equilibrium is reached. This is only possible when the hash rate does not increase anymore (or increases only due to better and not more hardware).
In this sense, the premise made by @saifedean that you cannot increase the supply of Bitcoin due to increased mining is violated in the short term. Not more bitcoin are produced but more are forced onto the market.
In this current difficulty boost lot of miners are getting less and less reward from their now quite obsolete hardware (Avalonminer 741, mainly) so they are selling all the mined co ma to pay for new hardware and amortise current one.
Thus, I expect the bear market to end when we don't see any more substantial increase in hash power and the price goes sideways for a few weeks.
F1
Interesting opinion. It seems to me that 5 touches of the bottom is enough to assume that now a new level will break through at the level of 7500-8000. Once we do this, we can say that the price will not fall to 6000. But this is my opinion, which is based on personal experience, analysis and graphics... |
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Gold is a valuable precious metal, while Bitcoin is a digital coin. But the similarities between them are deep. Both are mined, one physically and the other digitally. But if we look closely at the history of gold, the Bitcoin follows the same pattern of behavior that we have seen in gold.
Prices rose in 1971, when President Richard Nixon announced that the US dollar would not be supported by gold when demand exceeded supply. A major development in March 2003 saw the first ever gold-traded gold trader from the Australian bourse, behind Deutsche Bank. This has caused gold to rise from about $ 20 to $ 30 an ounce to $ 600 an ounce, an increase of 300%.
Before the advent of the first gold trader, it was not easy to invest in gold. But it was easy to buy gold, but at that time, the cost of acquisition and storage was high. But with traded funds, this allowed gold to be owned without actually owning it. Similarly, if the bitcoin trading funds are approved, this may be an important news for developers. The acquisition may be approved by the ETFs as early as 16 August 2018, although nothing has been confirmed so far.
In the past when this happened to gold, we saw a huge increase in the price of gold by 300%. If this happens for developers, this will raise the price tag to $ 60,000, which is expected by some well-known investors. If the price of this form is raised to this level, this will give us a market value of $ 1.26 trillion. So we're looking at 940% returns based on the current price of $ 7,000. As for the yellow metal, it has an estimated market value of $ 8.7 trillion with all the gold extracted.
In the end, investment is not without risk, but if regulation becomes clearer, it may help protect its owners.
I slightly disagree with the point of view that bitcoin can grow because of the possibility to have bitcoin but not physically. At the moment, there is a big problem with storing bitcoin from hackers. I read the news in which Citibank in America offers such storage of bitcoin, under 100% protection. That is precisely what is now a priority. and not speculation to 60,000. In General, physical gold and digital gold are very similar. |
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I believe someday crypto market would hit 1 trillion marketcap. There might be hidden gem in new coins that might be really big in future. Soon Nasdaq will selling cryptocurrency and we only need to wait until wall street doing the same thing. According to coinbase CEO there will be 1 billion people in crypto space in 5 years which i think if its true 1 trillion marketcap will become real.
$1 trillion is a reasonable number, I mean even a single company marketcap (Apple) has surpassed that figure. Total crypto or even Bitcoin market cap will surpass that figure in a few years, I'm sure. But a 1000x market cap from here is fantasy. That means hundreds of trillion USD. Unless there's no change in status quo, that's unrealistic. I have to agree with Vitalik on this one. All right! It doesn't matter what he says. It is so obvious that in a few years the price of bitcoin will surpass its current maximum. No need to rush the time, you need to save and collect the necessary amount of bitcoins. It is possible trades to short for the sake of speculation, but it is necessary to look at the future price of cryptocurrencies in General. |
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How much I realized that these Islands are an offshore zone for cashing in and money laundering. I'm sorry for being direct, but it is...
To raise the economy to a new level. They want to create their own coin. I.e. as I understand the scheme.
bitcoin or altcoin is exchanged through their Bank for a sovereign coin and then withdrawn to their debit card or left on Deposit in the Bank? A clever scheme, that's what I can say...
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As per Google search these are the top 3 richest person of this world. 1.Jeff Bezos — $108.9 billion
2.Bill Gates — $91.9 billion
3.Warren Buffett — $90.1 billion
But these maybe wrong since in this world there are lot of blackmoney is available which were not recorded by any governments. In my opinion the politicians from the third world countries can be in the richest persons because they were stealing all their country's taxes. I also assume that third world countries may have a lot of money. But in General I think who has the most resources, and the richest man on earth. I can't tell you about people. I will talk about resource-rich countries Saudi Arabia Russia |
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No countrie in the world (even China and USA) can't afford a 100% cashless society,because the implementation would be very expensive.Cashless society means that everyone needs a mobile device or a personal computer.Paper money are still way more convenient.
So good and i add comment. China is a socialist country, so there will always be rich and poor in this society. There is clearly visible difference between the classes. In a non-cash society, generally speaking, all 100% of the money will belong to the state (Bank), because they will temporarily issue a cash issue on request from a credit or debit card. As for the Cryptocurrency, then the money does not belong to the state or the Bank, money from other people. Example, in Germany almost (approximately) 80% of all money transactions are made by non-cash method. What not I'd say for other countries. |
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hello member of the bitcoin forum,  I'm confused and looking for answers about how to help people who are having economic problems, are there any of us in this forum who have a good heart to help the economy of fellow human beings, can opening new jobs reduce unemployment and improve the economy? If we talk about this forum, then there are quite good ICO companies and threads that offer you to earn good money. If you are a freelancer then you can safely find a job here, and thus you can change your economic situation. I am sure that everyone with a strong desire will be able to earn on cryptocurrency |
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Hello,
I was joined in crypto world almost one year ago. In this period, I am continuously learning from here and also work here. That's why I got some money and from those money I save some. Now, I want to start trading though the market situation isn't good now but I want to do this. I am also ready to take risk.
For doing that and getting inspiration, I need to know about its details. It will be good when you share your experiences.
Let's share your opinion here.
Thanks
A year or even 2 years ago, I was engaged in Forex trading and during that time I understood the basics of trading. Of course he was bumping and losing money. Now I can say 70% of success is to control your emotions and think before you sell or buy. |
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I bought bitcoin when it was around $14,500 in January and I am still holding because I am not discouraged. I have great hope that bitcoin is going to increase in price and volume in some years to come.
Why should we be upset my friend! I think we have nothing to be upset about. Every day and month the situation on the cryptocurrency market can change both for the better and for the worse. I believe that we should just do our favorite thing and wait! |
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Just happened across an article from May 2018 about a street artist who is earning crypto from his Graffiti work by placing a QR code for people to send rewards - great idea! > http://cryptotimes.org/bitcoin/street-artist-nets-1000-bitcoin-qr-codes-murals/https://www.pboy-art.com/biographie This goes to show there are many ways to earn crypto and the lesson is to be creative and think outside the box. We can all earn crypto legitimately if we put our minds to the task and market the idea. Im just throwing it out there but I would love to read a part fiction/part historical novel about the creation of Bitcon and Satoshi Nakamoto Very creative approach to earning bitcoins!!!! I will definitely write an article about this guy on my blog. I loved it! By the way, what other creative ideas come to your mind to earn bitcoins? |
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One strategy that works best in times of fall in the market is to remain calm, and not allow yourself to be blown by panic. Just hold the tokens with large caps and even if possible, buy more tokens and hold. For some coins like Bitcoin and Ethereum, it is always certain that whenever there is a fall, there is definitely going to be a rise.
What will you do when the market falls?
Well said, no need to panic. Just wait. Large investors always take into account 1 year of their investments. Very rarely people take half a year or a month. Usually a year. And that's the right move. During this time, the price can go up and down and then up again. it's market. |
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Trading through the bot is the so-called traffic arbitrage, and I think this is a great opportunity to make money on it, the most important thing is that you have enough money to replenish all available exchanges, not only bitrex. Good luck
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I used to start trading Forex and options. The principle I understood even then, how the market works, how the price moves, what whales and bears do. When I came to crypto. I realized that here the principle is exactly alike. Everything is the same as there. Only other assets, and so all the same. I recommend you to take a trading course.
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