Yes, it is true. Basically, all kinds of crypto-currency are repeating the price movements of bitcoin. This is due to the high level of bitcoin capitalization compared to other types of crypto currency. The higher the level of bitcoin capitalization, the stronger its dominance over the rest of the crypto currency. Therefore, in order to ensure that this effect does not exist, bitcoin should not differ greatly in the level of capitalization over the altcoyins.
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The reasons why people sell their tokens at very low prices can be several. The most common of these is the acute need for money to cover any running costs. Unfortunately, many lack the means to live and they are forced to sell their tokens at the price that has developed in the market at that time. The second reason may be that some do not carefully read the ICO project documents and do not evaluate the prospects for the growth of tokens. Or they just sell the received free tokens because they always do it. The third reason may be the usual panic. Token holders see how their tokens sometimes fall on the market, especially at the first time after listing them on the exchange, and some can not stand nerves.
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Hi everyone
I'm pretty new to all of this and thinking about buying some bitcoin.
I have some concerns about the world economy influence on bitcoin.
For example what if the US decides to put restrictions on bitcoin? will it have a chance to not fall apart completely?
do you think Bitcoin is strong enough at this point to be self-sustaining?
thanks for the help
If the US decides to impose a restriction on the use of bitcoin, this, of course, will strongly affect it, especially for users in this country. However, it will be used even now under any circumstances. This is roughly the same as the US issued a decree banning the use of the Venezuelan digital coin El Petro. Who wanted to buy, he bought on other international exchanges. So it will be with the restriction against bitcoin. You can not prohibit already what exists on the Internet.
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Bitcoin is hardly likely to disappear in the future. Even if it rises high in price and its bubble bursts because of panic or other reasons, it will still have to exist further in new, changed conditions for it. Also, bitcoin should not be afraid of centralized crypto-currencies issued by various states. On the one hand, it will distract attention from bitcoin, but will increase the general attention to crypto currency.
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You give statistics on the use of ATMs for bitcoins. This does not reflect the number of users of bitcoin in all countries. ATMs of bitcoins are installed, as a rule, in large industrial centers, and, as a rule, in countries with high incomes of citizens. ATMs are one of the ways to use bitcoin, and it's far from the most basic and not so large in volume. In some countries, ATMs are not used at all, but this does not mean that bitcoin is not used in these countries at all.
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From last few days, so many negative news regarding btc have been aired. Then lot of people speculate the price of bitcoin and just after that I have noticed some significant change in the price index of btc. Do you think that these speculation affect the price of btc a lot???
Negative news about the crypto currency has always had a bad effect on the price of bitcoin. After all, the price of bitcoin is formed on the basis of supply and demand, and the demand for bitcoin depends heavily on whether good or bad news comes about crypto currency. Recently, the bad news is hindering the growth of bitcoin prices.
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Many governments will soon create their own centralized crypto currency. However, they will not do this to replace their national money, but to strengthen them. However, in the future, it is possible that centralized crypto currency will help drive paper money out of circulation and it is too early to predict how this could end. However, I think that paper money will continue to exist and be in demand for a long time.
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We have seen Bitcoin and people's economic changes in the country. Do you know how Bitcoin is changing the economy? Do people believe that economic changes are possible by Bitcoin? And what will be the impact of Bitcoin economics in the future?
Bitcoin can change a lot in the life of a particular person, increasing its economic state. However, in general, this will have little impact on the economy of the country. Bitcoin is not a magic wand, with which you can solve problems on a countrywide scale. With the advent of bitcoin, economic laws are not repealed. If someone raised their economic position at the expense of bitcoin, then someone has to lose as much.
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The price of bitcoin can not be stabilized as a result of the fact that more investors will come to it. If they invest more, the price of bitcoin will increase and its volatility will only grow from this.
To slightly stabilize the price of bitcoin, it needs to be used more as a means of payment, and not as a means for investing. The use of bitcoin as a means for investing and accumulating value is a dead-end path that can only lead to the depreciation of bitcoin.
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The price of bitcoin in the coming years can only be spoken by someone who has visited the future and knows him. Everything else, this guessing on the coffee grounds. Bitcoin in general is unpredictable in its value. I do not remember that anyone predicted that by the end of last year it would rise to $ 20,000, as well as the fact that it would then drop to almost $ 6,000. Therefore, no one knows how he will behave in the future. However, an increase in its price by the end of next year to $ 64,000 will again introduce a very large confusion in prices and this will affect all the Crypto-currency. It is necessary to imagine what the next bitcoin correction will be after such growth and how long it will last.
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The global digital currency can only be such a digital currency, which has no big volatility. In the current conditions, this can only be centralized crypto currency. Apparently, Gary Cohn is exactly what he means. Maybe he hints at bitcoin in cash? Well, let him talk, and we'll see what happens in the future. Crypto currency is constantly evolving and in the future it can present surprises to us more than once.
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In the future, of course, the crypto currency and fiat will go together, and therefore different combinations of them will appear for sharing. Already, you can specify several such combinations. This is the implementation of the Tetcher platform analog of major currencies in digital form of tokens. Now there are such analogues of the dollar, euro, ruble. Their names are the same as these currencies, only with the addition of the letter "T" at the end. So the analogue of the dollar is denoted as USDT. These tokens differ in that they always correspond exactly to the rate of their counterpart, that is, one USDT always corresponds to one USD and so on. This is very convenient when exchanging crypto currency in fiat as an intermediate stage. Also worthy of attention is the issue of the Singaporean company Tangem banknotes with a face value of 0.01 and 0.05 bitcoins. That is, the holders of bitcoins are this company, however the bitcoins can walk as a means of payment as ordinary fiat money. It's also quite convenient.
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The position of banks in relation to the crypto currency will directly depend on the speed of legalization of the crypto currency by the majority of states and on their general attitude to the crypto currency. If the laws on the regulation of the crypto currency are largely friendly, the banks will have to accept the existence of the crypto currency and will quickly switch to its use in their activities and the provision of various types of services in the crypto currency.
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So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin. What do you think is the reason behind this?
More and more people are interested in crypto currency and are switching to its use. They are turning to banks less and less and are using their services less and less. Therefore, bankers lose their profits. In this regard, they will be against the introduction of crypto currency into our lives. States, on the whole, are afraid of the anonymity of the crypto currency and the lack of full control over its use by citizens, considering that the cash flows will leave the country uncontrollably. This was stated directly by the Chinese government, limiting since September last year the circulation of crypto currency in their country.
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In Ukraine, its legislative body, the Verkhovna Rada, already has a draft law, one of which, submitted and approved by the Verkhovna Rada's core committee, provides for recognition of the crypto currency as a means of payment and the complete clearing of the crypto currency from all taxes. By the way, when filing tax returns for the past year, information was disclosed that 46 members of the Verkhovna Rada indicated in their declarations their income in the crypto currency. The tax authorities explained that since these issues are not regulated in legislation in Ukraine, incomes in the crypto currency are not taxable. So for today in Ukraine full freedom of activity with криптовалютой and it would be desirable that the Verkhovna Rada has accepted the bill specified by me. Then it will be an ideal country for working with crypto currency.
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As far as I remember, Malta before that was one of the offshore zones where there was a relative freedom of financial relations. Now the government of Malta wants to make the same free relations in its country and in the crypto currency. This is a very reasonable step. In such islands of freedom, decentralized exchanges and exchangers will continue to exist that will not be subject to the general rules of the united states who want all exchanges and exchangers to identify their customers and provide relevant information to the tax authorities of the requesting state.
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Yes, the ICO team has the ability to control the price of its released token. They can throw to the market the tokens they have at their disposal and thereby lower their costs, as well as periodically burn some of their tokens, thereby reducing the offer for sale and therefore the price of tokens will increase.
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Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?
Why do you think that the national money of a particular state has no real value? This is not true. Paper national money is practically a bill of the state. National money is provided by the state's gold and foreign exchange reserves and the country's gross domestic income. At their cost, the state issues a number of certain bills. But decentralized crypto currency has no intrinsic value. These are just figures and letters that society knows as having a certain value for a certain moment. Therefore, it is unlikely that any state will ignore its money and use the crypto currency as the main money of this state. This will be a very reckless step.
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Each year the Crypto-currency will develop and become accepted by the population. It is obvious. It will also gradually replace the usual paper money, but it can not do it completely, but to a certain extent. Crypto currency can not completely replace fiat. Eventually she will walk with the fiat parallel. It can not be the main currency of any country because of its high volatility.
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It's just that judges are still very poorly aware of what crypto currency is. In addition, there are no normative acts that would classify the crypto currency. In the future, when the relevant nomadic base is adopted, the judges will change their position and the crypto currency will be used to pay off the debt.
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