Can Bitcoin become the universal currency of the world? What is the reason?
Universities and colleges are opening up to the idea of taking donations via cryptocurrency…by Manoj Sharma for CNR Earlier this week
Universities and organizations accepting bitcoin as a means of donations is a regular procedure now. It goes a little way in increasing adoption and popularity. But bitcoin is still yet to grow to be used as a global currency. |
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I consider all 'get rich quick with little or no effort but your capital' as scam ventures, and they mostly are.
There is no short cut to wealth and no one is willing to pay you for doing nothing.
Always be on guard.
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In defense of bitcoin you do not have to beat down fiat currencies or bundle up all governments Into an evil bunch.
In the event if a financial crisis I believe both fiat and cryptocurrencies would be hit, one could thrive on the downfall of the other though.
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Bitcoin was not created to replace bank notes or fiat currencies, rather to be an alternative for making transactions. And they can both very well complement each other.
Bitcoin on its own would experience various problems in scalability and would very likely be hijacked by some authority and become partially centralized.
I believe bitcoin needs fiat to thrive.
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May I suggest you use an app or a platform Luke blockfolio, that shows you the price, volume and orders on the various exchanges.
You can analyse and make the most informed decision when purchasing or selling BTC or any cryptocurrency
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Any historical innovation which led to a great change from the norm was met with skeptism from majority if people.
And the financial sector is a very difficult sector to grow in, especially as a new technology.
The idea of bitcoin is a little complicated for those who have little interest in really researching on it.
And not much can be done about the doubters and nay Sayers, the continuous survival of this technology would convince them.
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Governments' fighting for control of cryptocurrency and blockchain technology would help improve adoption and promote the innovation.
But I fear it would have a negative effect on decentralization.
And we could have an indirect central system which would control the market.
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As you can see in the charts, we are definitely in the deepest dip that Bitcoin can go through. But of course we don't know yet if we still go down more. I don't know how this can be 'the biggest dip that bitcoin can go through'. All through 2018, the support level has held up far higher than previous years and we are less prone to sharp sudden drops and rises. As regards to the OP, price predictions are just based on speculation. We would all love a bull run soon, but bitcoin has shown little changes for so long, that when the boom does come, there might be little warning. |
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you could think of it as USDT whales or bitfinex whales. bitfinex = tether. they are one and the same, owned by the same people. that's why USDT trades as USD on bitfinex markets.
it's at least partly to do with bitfinex's banking problems. they shut down fiat deposits and there have been withdrawal delays, so people are panicking about insolvency. that's why people are willing to pay a premium (>5% right now) to get their USD off bitfinex (or out of USDT) via the only possible exit route: buying crypto.
the question now is whether technical traders view this as a legitimate breakout or not.
Could that be the reason why bitcoin's value is higher in bitfinex than other exchanges? There us a wide gulf in price of bitcoin on the different exchanges at the moment. I wouldn't call this a legitimate breakout. Rather a momentary spike in price caused by forces not directly connected with project development and adoption. |
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Browsing through blockfolio, the wide contrast in prices of bitcoin on different exchanges presents a huge opportunity arbitrage traders to make profits.
From Coinbase to bitfinex and Bittrex bitcoin's value is spread widely. And it seems to all be down to the implosion of tether.
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Some people state opinions without having background knowledge on what is being discussed.
And that can lead to mixups like ETF and EFT.
Same way most people mixed up USDT and USD today
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Users are banned if that account is discovered to be violating the forum rules.
There is no simultaneous, or spontaneous banning by the MODS, if you are banned and make another account to complain about it in several posts, it would also be banned as that is ban evasion and against the rules.
A banned user is only allowed to make a single thread on meta as an appeal
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Tether users were spooked panic as the price dropped below one USD, and this caused a massive influx to bitcoin as they dumped their USDT.
Stable coins has never been a sustainable model in my opinion.
The present situation is not good news for BTC, just bad news for USDT
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As a trader, if you feel you might have git your analysis wrong and the value is heading rock bottom, then cut your losses.
.as an investor, a long term holder, little changes in price shouldn't much bother you.
Except of course it reaches a point and you admit you were wrong in your foundamental analysis. Then cut your losses. Otherwise, KEEP HODLING
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I would gladly be a leader in such group and buy at the bottom after selecting a currency and then instruct the other investors to pump the price
But as a follower the risks are huge, you buy on the way up and can only depend on how high it can go.
The reward, if any is little and the risk is high.
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This is a welcome development, especially as the total supply of bitcoin would soon be called and miners would no longer be rewarded with bitcoin for completing a node.
It would help to reduce the mining difficulty. Then transaction fees could motivate miners to keep mining.
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Yes, bitcointalk is a repository of information on all things crypto related.
Any new, fresh piece of info is also highly welcome. And while the OP very possibly has been mentioned somewhere else, not everyone might have cone across it.
Nice basic tips.
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OTC, over the counter, is the best way to buy large quantities of bitcoin while remaining totally anonymous.
You do not have to go through exchanges, as KYC would be required to make a large purchase.
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Whales exist in any business or commercial sector, and bitcoin is not an exception.
Whales are not in it to manipulate the market, they are most time strong enthusiasts some of who joined in the early days, when there was little hype.
It is believed that a handful of people (less than 2000) hold more than 30% of the entire BTC in circulation.
If that is true, they very likely do not know each other.
Some prefer to buy OTC when making a huge purchase to keep it quiet.
Bitcoin as a currency has matured, and is less prone to price manipulations.
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Repeatedly reported hacks just emphasizes the fact, that no exchange is totally safe and impervious to leaks.
I predict there would be a general shift to decentralized exchanges as users would want to remain in control of their assets even when trading
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