Grayscale has just resumed buying Bitcoins , this is going to help the rhetoric of institutional buying. Of course, I hope it is a sort of rotation between the various category of Bitcoin buyers: institutional, then retails, and institutional again! Liquidity has been ample on the exchanges, so I hope the organic growth can go on. If the new US President Joe Biden announces new measures to stimulate the US economy (i.e. continue to issue US dollars), then the bitcoin price will continue to rise. In any case, the main task of the government is to prevent hyperinflation. Thus, the new dollars will not be allowed into the consumer market. Instead, the stock market will rise and Bitcoin will rise. Unlike stocks, Bitcoin has no limits to further growth. Bitcoin can be worth $ 50,000, it can be worth $ 100,000 or $ 500,000. |
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Hey Guys
New here but not in the Space.
What's always annoying me about the whole Tether discussion is the fact that everybody that talks about the topic mostly assumes that if usdt collapses (not saying that it will) bitcoin would dump harder than ever before. While I can see that a lot of volume is through tether ( I would say its the majority) the collapse would by no mean be a small event. If you look back tho to end of 2018 when the whole Crypto Capital saga took place and usdt "dumped" into the .80s the only thing that really happened was that btc immediately spiked by a good amount simply because if you price btc/usdt if one collapses the other rises. So let's just assume that the day when tether would collapse actually comes and it's not just a few days of uncertainty. What side would win. A) everybody just want's to flee usdt (into btc) or B) everybody want's to flee crypto as a whole (through btc into "real usd" / coinbase)
If tether is destroyed, Bitcoin's price will rise (at least double). In my opinion, this is an obvious fact. Usdt users will start buying bitcoin en masse at the highest possible price. The capitalization of bitcoins and many of the best altcoins will grow. Tether is a direct competitor to Bitcoin. Previously, alternative cryptocurrencies only traded in pairs with bitcoins. Now Tether is even being used in cross-border payments with China (instead of Bitcoin). Tether is not the US dollar, but in the crypto industry it represents the power of the US dollar. When Tether crashes, people will realize that Bitcoin is self-sufficient. It is the base currency, a measure of the value of all other assets. |
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What will the world be like in 2140? Will people use money in the future?
In fact, money is not needed to distribute the goods (works, services) created by society among the inhabitants of the Earth. Perhaps in the 22nd century, people will earn reputation tokens by doing good deeds. The more reputation tokens you have on your balance sheet, the more goods (works, services, goods) created by society are at your disposal.
Maybe in 2140 Bitcoin will stop being money? Perhaps it will be one of the many virtual reality Internet protocols.
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Thank you, thread author! A very interesting and useful topic.
I first learned about promising altcoins in 2017. I asked myself the question - which altcoin should I invest in? In my opinion, the main criterion for a good investment object is the developer's ambitions. A developer's ambitions are the stories they tell. Storytelling is very important in the crypto industry.
In June 2017, I loved the story told by Dan Larimer. These were stories about the killer Ethereum, about the first blockchain operating system, about global corporations that would seek to buy EOS cryptocurrency for themselves. It was a beautiful story.
Dan Larimer wrote in one of his articles that EOS will cost $ 30. At the same time, this cryptocurrency could be bought for 0.6 - 0.8 dollars. EOS's price never hit $ 30. However, in May 2018, she bet $ 21. At this price, I sold my coins.
When the mainnet launched, telling beautiful stories became more difficult and the price of EOS plummeted ...
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Many predicts bitcoin will reach 100K, 160K even 200K and more. but no one say what happen then? what happen when reach for example 100K? will be stable, fall to zero, continue with correction or raise more? what is your suggestion  This is the magic of round numbers. The average bitcoin price in 2017-2020 is $ 10,000. This is also a round number. The $ 10,000 level attracted (and pushed away) the bitcoin price (like a magnet). We saw Bitcoin at $ 19,000, $ 15,000, $ 3,500, $ 8,000, $ 12,000, $ 14,000, $5,000, etc. At the end of 2020, a significant event took place - the price of $ 10,000 has lost its sacred meaning. We are now in uncharted territory. In my opinion, it's too early for us to dream of a $ 100,000 price tag. Maybe I'm wrong. However, when the price of Bitcoin surpasses $ 100,000 in the future, we will see everything we have seen at $ 10,000. We will probably interpret this as a bear market. The drop in price to $ 45,000 will lead many to call Bitcoin a scam  . |
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Warren Buffett is a very successful investor, but he is also an elderly man.
He studied the art of investing in the 20th century. Now is the XXI century.
All of Warren Buffett's investment models remain relevant. Therefore, he has no reason to revise them.
At the same time, a new class of financial assets appeared - cryptocurrencies and their most prominent representative - Bitcoin.
Bitcoin is an antagonist and alternative to traditional financial instruments. Therefore, Warren Buffett treats bitcoin badly and has repeatedly criticized the first cryptocurrency.
In order to be a successful person, it is not necessary to understand how our world works in all its details. It is enough to know a few basic ways of getting rich. Buffett knows them.
Therefore, he is a very successful investor and in this capacity he deserves respect.
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Yes, in my opinion, the decline in the price of bitcoins that we are now seeing is a natural process. The rise in bitcoin price from $ 10,000 to $ 41,000 was too fast. In fact, we have seen a parabolic rise in asset values. Correction of the bitcoin price to $ 30,000 (or even up to $ 20,000) will have a beneficial effect on further growth in the price of the first cryptocurrency. A decline in the price of a financial asset (as well as a sharp increase in the price of an asset) are emotions. Emotions are a reason to write an article in the media. This article will be read by many people, potential investors. These people will have an idea to invest in Bitcoin. They will buy Bitcoin. Bitcoin price will start to rise. |
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How to determine the allowable volume of CBDC money supply (for each country)? For example, one country will issue a large number of CBDCs and another country will issue a small amount of CBDCs.
How to convert one currency to another? Countries do not exist in isolation. They interact with each other. This is why a world reserve currency is needed. In theory, it could have been gold.
These are interesting questions the answer to which I found in one of the best books I have ever read "Mystery of Banking" by Murray N. Rothbard, an American economist of the Austrian school. I highly recommend you to look at his works, his arguments are very convincing and apt. In his book, he claims that unlike consumer and capital goods, money performs only one function, which is facilitating exchange between individuals. So, it doesn't matter what the supply of money is if money is highly divisible. Any amount is to be considered enough if people can use it in their exchanges. The more money, the worse because it only results in an increase in the price of goods. The controllable supply of money is even worse because it constantly distorts market prices. Bitcoin is poised to solve this problem of managed supply because its supply cannot be altered, and also it is divisible enough to perform the function of exchange. Thanks for the valuable information. I will definitely read this book. In my opinion, money has two functions - the function of payment and the function of saving. Bitcoin is very efficient for preserving capital. However, there is one caveat. Bitcoin is not an anonymous or private cryptocurrency. If the owner of the bitcoins is not anonymous, then hackers and robbers can easily attack him. Many people don't have enough technical knowledge to store their bitcoins on their own. Also Bitcoin is having difficulty performing the payment function. These are technical difficulties due to the small block size. 7 billion people will not be able to use Bitcoin at the same time. The number of daily transactions on the Bitcoin network is limited. The main advantage of Bitcoin is that it allows transactions of very large amounts of money. Therefore, in the future, I consider countries and large corporations as the main users of bitcoin. |
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Do you think that states will use bitcoin as a reserve of central banks instead of gold and one hundred governments will use it as a digital asset to accumulate value? This will never happen because the nature of the state is completely different. Many states have now legalized bitcoin, that is, they have established its legal status and determined its order and conditions for walking in society, but they will not actively support it, that is, they will not create an infrastructure for its circulation and use it in international agreements.
They will use their central bank stablecoins, that is, their digitized currencies, and create various regional stablecoins based on their own currencies or the same gold.
So far, the cryptocurrency market has reached one trillion dollars, compared with 70 trillion in stock markets and 200 trillion dollars in the real estate market, and states consider cryptocurrency to be one that does not threaten the stability of the global financial system. It is still unknown how states will treat cryptocurrency in the future. Most likely, they will strengthen the legal regulation of cryptocurrencies in order to weaken their impact on society.
Yes, countries will definitely create a central bank currency (CBDC). Organizations registered in these countries (as well as citizens of these countries) will use this currency as a means of payment. However, the question arises ... How to determine the allowable volume of CBDC money supply (for each country)? For example, one country will issue a large number of CBDCs and another country will issue a small amount of CBDCs. How to convert one currency to another? Countries do not exist in isolation. They interact with each other. This is why a world reserve currency is needed. In theory, it could have been gold. However, how to check how much gold is in the hands of the state? This test is not easy. Bitcoin is another matter. Thanks to the transparent blockchain, every country can easily prove that it controls its bitcoins. |
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The growth of the stock market is associated with the uncontrolled emission of US dollars.
If not for the growth of the stock market, then the surplus money supply would have entered the consumer market. What is the threat? In this situation, prices for food, utilities, transport, electronics, etc. will rise.
Also, the problem of the US external debt remains. How to pay off such a huge external debt?
All these economic problems are related to each other.
The world crisis of 2008-2009 is not over yet. This crisis continues to this day.
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Yes, I agree with the author of this topic.
Can Bitcoin be used as a means of payment? Yes it is possible.
How optimal is this? Difficult question. There are many other alternative payment methods.
Can 7 billion people use Bitcoin as a means of payment? No, this is technically impossible.
Can technical restrictions be lifted? In theory, yes. However, it is more likely that Bitcoin will be used as the world's reserve currency (reserve asset), not a means of payment.
Thus, Bitcoin does not need technical improvements.
Developers can focus on solving other problems - creating sidechains, creating algorithms that are resistant to being hacked by quantum computers, etc.
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Some major countries are facing crisis created by corona virus, meanwhile few others have controlled it successfully. Can this pandemic change economical and political status of countries?
In my opinion, countries that do not take inappropriate actions during the Covid-19 coronavirus pandemic will significantly increase their status in the world. It is very easy to panic in an atmosphere of fear. However, inadequate actions of government officials will lead to serious problems in the economy. Small and medium businesses could die from a pandemic, and unemployment could rise. In such crisis situations, it is necessary to make informed management decisions. An example is China. China's actions were absolutely adequate to the situation that had arisen. As a consequence, China has a chance to significantly increase its status in the world after the end of the coronavirus pandemic. |
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but the biggest influence on the bitcoin market today are large investors because they must buy in large quantities, so that it will reduce the supply of bitcoin and increase trading volume which will make the price even higher. it might hit $ 50k if the trend continues this way.
There has been a drop in the market but knowing these companies buying large amounts of bitcoin, I think that a bounce back is possible and a 50k mark is possible, anything beyond that is still a little bit impossible. I think the drop in the bitcoin price was due to sales by institutional investors who bought in 2020 at $ 9,000, $ 12,000 and 19,000 and sold now at $ 40,000 - $ 41,000. At the same time, retail investors continue to hold bitcoins. That is why the collapse of the Bitcoin price did not happen. Institutional investors are waiting for the Bitcoin price (retail buyers will start selling Bitcoin) to fall to continue shopping. This is my version. This version may be wrong. If it is possible to confirm or deny it, it would be useful information. |
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I don't think China will take demonstrative steps to take over the mining business. Such actions are contrary to the Chinese mentality. Read The "Art of War" by Sun Tzu.
It is more typical for China to fight by relying not on brute force, but on complex strategic combinations. At the same time, controlling bitcoin mining and controlling bitcoin hashrate is one of the goals of the Chinese Communist Party. Bitcoin is a potential global reserve currency. China is interested in controlling bitcoin.
However, China will not commit inappropriate actions that would allow it to be declared an aggressor.
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I see lots of people placing value specifically on owning full (1) BTC. Is this just a flex, or is there some advantage to this, versus just owning some fractions of BTC?
Everyone loves to set clearly defined goals for themselves. For example, make $ 1,000,000, become an actor in Hollywood, fuck 1000 girls, or have 1 bitcoin ... The psychology of people makes them simplify the surrounding reality, reducing it to simple schemes. Having 1,86472176 BTC is better than having 1 BTC. However, no one aims to accumulate 1.86472176 BTC. People will look at a person who claims such a desire as an idiot. Why complicate things? People like it when things are simple. |
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In my opinion, in the future we will see bitcoin at $ 50,000 and $ 100,000, however, there will now be a price correction in the market.
Organizations that bought bitcoin for between $ 19,000 and $ 20,000 most likely sold it for between $ 40,000 and $ 41,000 (to lock in their profits).
I currently expect the price to drop to $ 20,000. The US political crisis is probably over. This is another reason for the fall in the price of bitcoin.
$ 40,000 is a very high price for Bitcoin. Further price increases are not organic growth.
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I recently read Dan Brown's detective novel, Digital Fortress. One of the main characters in the novel is a Japanese American.
In my opinion, the prototype of this hero was the creator of Bitcoin, Satoshi Nakamoto.
It is noteworthy that in the process of writing the novel, Dan Brown was consulted by two experts from the NSA.
According to the plot of the novel, the main character was a brilliant cryptographer and worked for the NSA. However, he sympathized with the cypherpunks and believed that people had a right to anonymity and privacy. He conceived a daring multi-move combination and for that NSA security men killed him.
This is just one of the versions. Perhaps this version is very far from the truth.
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I respect your opinion, but I do not believe in this theory.
In my opinion, the elites of the Western world and China could not participate together in such a global conspiracy.
There are many global problems in the modern world.
One of these problems is the US abandonment of world hegemony. A world leader is forced to sacrifice his national interests for the common good. The United States does not want to make such sacrifices. They can be understood. However, as a result, China, Russia, the EU and other countries are left alone with their problems and are forced to solve these problems on their own.
China, as a state with a very developed economy, isolated itself as much as possible from the Western world. Chinese elites do not trust the elites of the Western world.
In my opinion, joint action by China and the United States to reset the global financial system is too complex a combination.
It's impossible.
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Do not be too happy that big and giant companies are entering the field… Because they set the price up and down whenever they want… You should be happy when ordinary people invest more than big companies. In simpler terms, it is much better if bitcoin or anything else that exists is distributed all over the world and reaches individuals and companies equally, or, as the saying goes, does not accumulate together. Wherever governments or large corporations stand, they are sure to determine everything. Successful and healthy  It is very difficult for people to own and use bitcoins. Bitcoin is not an anonymous and private cryptocurrency. A Bitcoin user will go through KYC and AML procedures on a crypto exchange, and then transfer the coins to their wallet. But who will help him if he is attacked by extortionist bandits? Bitcoin does not need intermediaries in its work. However, everything has a downside. It is difficult for a Bitcoin user to defend against external attacks. This also applies to the attack of cunning hackers and the attack of a gang of thugs. It's another matter if the holder is an institution or a large organization. She can proudly declare herself the owner of bitcoins. It is easy for a large organization to protect its property from all threats and attacks. |
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BTC has risen quite a bit recently, but at a slower overall rate than in December 2017.
Given that it looks like Joe and the Ho might actually get in, I am wondering if the big rise in BTC interest is because people are using crypto to transfer or HODL their cash assets to avoid taxes. I certainly would. I think that if it is the case, then BTC price has quite a bit of upside left in it yet, and when (not if) biden tanks the economy, then BTC will be used even more.
What do you think of the recent price gains and if the prices will stay up or crash out?
Trump won the election. biden was INSTALLED, not elected. There's a difference.
In my opinion, the existing financial system has reached a dead end. This is the real reason the price of bitcoin skyrocketed to $ 40,000 or more. The scandalous US presidential election is a consequence, not a cause. The external debt of developed countries is so large that tax revenues cannot solve the problem of paying off this debt. Issuing modern paper money is simply creating it out of thin air. But the biggest problem is how to distribute them among the citizens of the country. They cannot be distributed in the form of dividends or wages, because this money has nothing to do with the goods (works, services) produced. This is the main reason for the rise in stock prices in the stock market and the appreciation of bitcoins. |
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