That's wrong since some "experts" are being bullish despite of the current status of the market. As based from Tom Lee, Bitcoin could be around 20,000 USD by the end of this year, 2018. Some are also saying that it will be beyond that. We just entered the third quarter of the year so we still have a lot of time to consider and it is too early to jump to any conclusions.

This is the reason why many are saying that Bitcoin is a scam. People are introducing Bitcoin in the wrong way. People should know Bitcoin for what it is and not by how much you can earn from it. Purely saying that if you buy Bitcoin you will be rich will stain Bitcoin's name when the price crashed just like what we experience the past months.

The world has always been in an economic crisis and there's nothing new about it.

The cryptocurrency market now, for noobs, is scary because their metric of Bitcoin as being great is dependent on its price. If you truly understand the natural movement of Bitcoin then the current status should not affect you at all

There would be many possibilities when the last Bitcoin is mined. Many are hoping for Bitcoin to go mainstream and it is possible. Bitcoin has the most trust with respect to all cryptocurrency that exist so it may be. The price, on the other hand will not be stable. Based from the law of supply and demand, the higher the demand and the lower the supply, the higher the price. Since the supply is constant and the demand is varying, the price should be varying as well.

Most must be scared if ever these whales converts their Bitcoins to Fiat. This would really make the market crash dramatically. However, I believe that we won't be seeing this in the near future. Most of these whales are already rich and are just making their money grow.

Tether could produce more if ever they believe that this is necessary but I think consensus is necessary before this happens.


If you are talking about the market cap reflected in CMC or alike, then I suppose they are true because the market cap is just a multiplication between the current price and the current circulating supply. There's no point faking them. However, market cap is irrelevant. Since it is just digits, it doesn't mean anything of significant to Bitcoin at all.

So I take that these "some" people are implying that the glory of Bitcoin is based on its price? This is a wrong perception about Bitcoin and could affect someones point of view about the entire network. How come that a glory about a coin depends on its value? This is illogical and at the same time, idiotic.

Bitcoin is still the dominant coin in the market, has the top market cap, has most trust from the community, the alpha coin of all cryptocurrency. This is the metric for "glory" not the price.

Not a chance bro. 2018 is too early to see Bitcoin go mainstream. Also, Bitcoin is not yet capable of being mainstream for the moment. Imagine people waiting for at least 10 minutes for their transaction to went through the network. This is very impractical for peer to peer or face to face transaction. Give it at least 5 more years and we might get there.

Nobody can guarantee that the statement in the OP and in the video attached will happen. Remember that this is cryptocurrency, in which we are very volatile. In addition, this is considered as an investment so nothing is for certain. I admit that I want to see those figures this year. However, I always expect for the worse. Expecting too much is unhealthy

In the video, the only basis for the bull run is the statistics based from historical data of Bitcoin. Although Math does not lie, we should be aware that past performance of any king does not justify any performance in the future.

Bitcoin was hacked? I hope you doe not believe whoever said that. But the fact that you stated it here without contradicting the claim would indicate that you somehow believed that claim. Bitcoin is not vulnerable to hacks. Bitcoin is decentralized and that protects it from hackers. The concept of hacking is targeting a single point in a network in order to access the main server. But since Bitcoin does not have such, then hacks are off the table.

HODL and buy more would be the best move here. The fact that the price is low, selling is not an option. We are talking about investment here and you invested because you want to gain. If you sell low then what is the point of investing? Since the price is low, hold unto your coins and, if possible, buy more so that you'll earn more when the price soars again.

On the contrary, I believe that the economy is not growing or progressing at all. As time pass by, the economy is dropping and dropping. We are just seeing the advancement of the technology and nothing else. Poverty is worsening in general and that is not a sign of economic growth at all.

How can the crash from $20k to $6k justify that Bitcoin is a scam? Even if the Bitcoin become worthless what is the correlation of it to scam? Bitcoin behaves just like stock market and do they say that stock market is a scam? Let me answer those questions for you: it cannot, nope, and nope. Your argument about Bitcoin being a scam is very much flawed.

It may seem impossible considering that there are hundreds of coins including tokens out there and most of them increasing in value just because Bitcoin does. If we are just to look at the demand or supply, yes we can justify this as impossible as per the examination of OP. We have to look at this differently and this is how you should look at this:

Let us assume that a Bitcoin is valued $1,000 at the moment and an Ethereum is equal to 0.1 BTC.

1BTC = $1,000 and 1ETH = 0.1BTC, thus 1ETH = $100.

If, for instance 1BTC after a day became $1,100 each and 1ETH is still equal to 0.1BTC then,

1BTC = $1,100 and 1ETH = 0.1BTC, thus 1ETH = $110.

Having the same conversion factor of 1ETH = 0.1BTC, ETH increased in value in terms of USD because BTC increased.

I used this explanation because all other coins are convertible in BTC market.

Without looking at the supply and demand for other coin or token, we can clearly see here how most of the coins and tokens increase in value just by Bitcoin increasing.

No, they are not disappearing. Some might be dying but the decline in price does not justify that the coins are disappearing.


Nothing. The decline is very much normal. True investor waits for the right time.
If you want to sell, it's your call.
Some migrates to other stronger coin. Everyone has their own strategy.


Not all are making this a big deal. Only those who really understand the nature of cryptocurrency stay calm regardless of the countless red days.

This really depends on how much you invest and where did you invest. Investing in altcoins is very much profitable considering that you invested in a great coin. 20 - 100% is an easy figure for altcoin, some even gained 200%+. The correct question here is not how much you can earn, but rather where to invest.

The irony of investment is that you wait for a low price before you jump in. Since the market is experiencing set backs, true investors buys in so that they will gain more when the price soars up. As the common saying in investment state: "Buy low, sell high", we are currently at the "low" part so investing or buying the the best move.

We get that but you are focusing too much on supply even though demand also plays a crucial part in this market. Supply alone is irrelevant. What is the sense of being scarce when no one wants to buy? Please accept the fact that supply and demand comes in set. You can think of this as the Yin and Yang.

Blockchain does not give a damn about poverty and legal identity. Blockchain is just a public ledger where all transactions are reflected and is accessible by the people. How in the world could a public ledger put an end to poverty and famine? That is a rhetorical question and the answer is IT CANNOT.


It is the other way around. Blockchain could demolish jobs. Without the need for third-party entity then banks and such will be no longer needed. If ever they still exist, the job it needs will be lessen. Thus, less employee needed. Think of this as the conversion of manual method to automated.

User: kirito1614 BANNED

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Original: https://apptoys.blogspot.com/2017/12/bitcoin-is-not-illegal-as-per-expert.html

LOL. The mixture of sarcasm and concern (for the forum) was good. I'll give it to you, hats off 

For the record, Philippines is not the first Asian country to regulate and accept Bitcoin. AFAIK, it was Japan and it was more than a year ago. OP is too proud, he did not even make the facts straight. Worth the shot, I suppose 

PS, there's no tax for cryptocurrency here in the Philippines yet. Brace yourself for shits