This speculations that Bitcoin will overshadow Gold at the long-run is an hot topic being discussed by major players. Although they have some similarities which among them is the scarcity, there can only be 21 million bitcoins, while there are around 180,000 tons of the major commodity gold in the world.
Limited availability of both assets mentioned is what makes them valuable, though gold has an edge since it can be used into something else apart from being just a storage of wealth and assets. Financial institution and experts has been describing Bitcoin to resolved the debt issue rampaging the world in no distance time despite the high volatility of Bitcoin from nearly $20,000 in late 2017 and crashed to $3000 range in first quarter of 2019 but still enjoyed the decentralization advantage. I am not doubting this as almost everybody like FREEDOM, this is what Bitcoin is enjoying over other high rated commodities like Gold.
The volatility of bitcoin's price is what ultimately lured in a lot of people (traders specifically) in the cryptomarket. Without it, I don't think we'll be here right now discussing which is better between gold and bitcoin. Also, no, I don't think bitcoin will ever solve the problems of debt created by the fiat system. Never in the entirety of its existence will it be able to attend to the ill-effects of QE. Will the money in trillion of Dollars be shifted to Bitcoin from Gold in future making the later less redundancy or the two are not competitive to each other? Why is always the question which one is better to HOLD (Bitcoin or Gold). What is the danger of HOLDING the two? Can one outsmart the other in the near future, I am just keen to know due to a lot of argument around these two commodities.
I am of the opinion that the two are here to stay and I am in serious doubt that one will bow to another but what did you think. Kindly correct me with facts.
Thank you
Whichever suits best for whatever situation is where my money would go, surely. It's a given fact that people will choose gold over bitcoin in most cases due to the former having proved its value for centuries now though in the event that bitcoin proved itself superior over gold, people would surely start putting their money on the said digital currency/asset.
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I've ardently believed that we will see sub-$3000 prices back when the fall from November was fresh. Fast forward, 5 months after, we have seen ourselves a $2000 increase from where we're standing for the longest of time yet I'm still not convinced that this is the start of the much-awaited bull run. Perhaps people are still busy accumulating and the recent increase was to just shun those who are waiting for the price to go lower and execute their buys, and boy some people really are affected with that sudden increase. I know for a fact that we're yet to see a massive bull run, but it'll certainly happen, and realistically speaking, not on a scale that some of us here wanted to, perhaps $30-$50k is a more plausible target.
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It's great that the exchanges fared well on the 1st of April mini rally, and have continued being operational albeit the mass trades that occurred thereafter, possibly due to the FOMO the price had generated after people found out that we're back on the $5000 levels. However, I fear that the exchanges are still not fully equipped to the brim to handle a huge number of trades in their platforms should a bull run commence. Heck, we might even see exchanges/platforms freezing during the heat of the moment.
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We have had our moments of short and brief corrections at hand and that, I think, breaks the consecutive weeks of gains that the article is trying to point out. Anyway, the past few weeks have been so great nevertheless, and I'm sure a lot of people have already made money off of the previous rise. Is this also the time to begin listening to Tom Lee's advice again and start looking for a bitcoin bear to make fun hehehe?
I reckon most of us only begin listening when everyone is dumping which ends in losses.
Uhh no. Tom Lee has always jinxed what he predicted in the past. He may be a solid bitcoin bull but that doesn't change the fact that most of his predictions in recent times are awful and cannot be trusted.
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Hopefully we can get some nice bounce up from where we are right now, although that might not be the case for the whole of 2019 if ever the support becomes somewhat bleak and doesn't hold the pressure from the bears. IMO it is nothing but pure FOMO which lead us to $5000 ever since someone in the market bought $100-M worth of bitcoins in 3 different major exchanges. The biggest question is whether this can hold once it surpasses $6000 or not, because if not, we might see ourselves trailing down back $3000 or $4000 real hard. No great news from every sides of the cryptomarket either, so it will be hard to sustain this tempo and to keep other traders attracted.
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Just to add something on the table, Gold and Fiat can easily be stolen by means of physical contact and bitcoin, on the other hand is prone to hacks and virtual theft, with physical thefts slowly rising in recent times. In this case, no one is better than the other, as each are prone to hacks and thefts. Well anyone who possess some valuables on their hands, especially a substantial amount have it coming their way anyway if they are unprepared against such attacks.
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Interesting metric, though I know that this 36 million figure refers to the number of wallets generated/IPs used to generate new wallets and not really new users per se. With how easy it is to generate a new wallet from blockchain.com's website, one can potentially create hundreds of wallets with hundreds of aliases, so I don't believe that there really are 36-M users of the said service. Even then, it's cool that an online service alone garnered 36-M wallet registration in just a few years, what more to those who are using HD, mobile and full-client wallets.
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China intends to abandon mining cryptocurrency by 2021.How do You think this news will affect the entire industry and what alternative countries can replace this niche?
This will not affect the industry on a large scale IMO if only the actual mining aspect is banned while the production of newer ASIC chips isn't. For once, the cluster of mining power on China will be dispersed into other countries and the network will finally have a chance to decentralize the network. Russia, Iceland, and perhaps the US itself can pretty much harbor large-scale industrial mining. China is only being chosen as the hotspot given the ample climate conditions and cheap hydropower. Iceland has it, the US has it and Russia has it as well. What is the cost of 1 kilowatt of electricity in your country?
From where I live, our per kW/h rating is @ $0.25, which is pretty darn expensive as compared to other countries knowing that this country's entire power (or at least on the urbanized areas) supply is monopolized, and that sucks because the government hasn't done anything to abolish this one-company system for decades. What the heck are you talking about? You are literally referring to the same article that AGD shared in his thread where you both are talking about the same topic.
Same issues being discussed here which is why your statement does not make any sense. Locking this thread is the best option.
Pardon me but AGD's topic is mainly about China playing as the environmentalist dudes and this here is talking about how China's move can affect the industry.
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One reason I see is because bitcoin is already being used by people as a means to get more of their local issued currency by means of speculation and trading. If we kept the idea of 1 BTC = 1 BTC and people haven't discovered its speculative properties, we may have flourished as a strict P2P currency system without government intervention, however since people are using bitcoin to get fiat and vice-versa, that's when governments feel the need to step in. With this, regulations are somewhat painful compromise we as a community have agreed to ever since people exchanged bitcoins to fiat, and that is back in 2010.
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We will struggle to get by $6000 knowing how many people bought at that price thinking that that is the lowest price bitcoin will ever reach. For sure, once $6000 is reached again, or is breached, people will begin their dumping spree to call it quits and breakeven, and I know a lot of people waiting for that exact same time. Once we have passed the hurdles of $6000, and if the push survived the dump by then, that is the only time in which we can aim for higher goals, but $10k before June, IMO with the current market state isn't possible atm.
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Playing the environment card from one of the world's largest contributors of carbon emissions, I don't think the word "environmentalists" and "China" go together. Perhaps there are more underlying reasons as to why they want to ban bitcoin mining all in all. If ever this happened, Mongolia is just near China, and Japan, too. There's also Russia which has a somewhat lighter reception and policies regarding bitcoin mining. I guess it's also about time for the miners to disperse off of China and relocate somewhere else.
This is not about China being 'green' all of a sudden. This is surely about something else.
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If I have an easy access to a trusted DEX, I would really consider using such platforms due to fast and easy swaps, though liquidity would be an issue since most traders and the big guns are still playing in the field of centralized exchanges. If there'd be a hit DEX, with huge actual volumes and a fluid platform, together with a smooth UI/UX, I'd definitely get my hands on it and trade there regularly. Centralized exchanges would still be the king of exchanges for the next few years if no one would build a promising DEX platform.
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Perhaps, or perhaps not. Do remember that there remains gold and silver should people want a hedge against the financial crisis. I'm more inclined to think that this incoming financial crisis will shift the world's wealth temporarily to gold and silver, with cryptocurrencies given lesser priority except for the hopefuls and risk-takers, of course. Anyhow, the next financial crisis wouldn't likely drive hordes of people into the cryptosphere and would still insist on using their obsolete fiat because that's what their governments say. One can only hope, but it simply isn't enough.
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This is quite alarming. Those usernames are commonly used by Filipinos to insinuate something vulgar out of those common names. While these users might be ban for the DT1 selection/voting process, perhaps a permanent ban is necessary. I can pretty much name/point out users that may have been connected to each other by just looking at them, as they all hint a shade of vulgarity in Filipino terms. - If it is fixed amount then add a requirement for additional earned merit for a given time like 3 merit per 120 days of activity.
That will be easy to spot the abusers, at least the lazy ones that give 3 in one shot.
This idea would be nice, knowing how abusers and account farmers give their alts 3-5 merits in one go just to satisfy the 10 earned merit requirement. Also, this would be pretty hard to game and abuse since the element of time is already involved.
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What do you mean by USDT as 'money printing machine?' For all I know, the main catalyst of the 2017 bull run was credit cards being used to purchase bitcoin and the futures market, and USDT being there just to, well, be a stablecoin and nothing more. Right now, Tether is in hot waters for not actually stating or showing a proof that they indeed have that much money to match any issued USDT in the open, yet they are still continuing to do what they always do. Sooner or later, Tether will be involved in some form of 'hack' that could potentially hurt millions of dollars of money converted into them in the meantime.
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$7000 with today's market conditions IMO is a bit of a steep target. I mean, there are a lot of people who have accumulated @ $6000 thinking that it is the lowest price bitcoin could ever get in this bear market. Once the slide to $5000 down to $3000 happened, these guys became bagholders and are just waiting for an opportunity for the price to rise up and dump whatever it is that they are holding. For sure, $6000 will be a hard resistance for the bulls should they wish to pursue $7000.
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Of course. Knowing how easy it is to actually get in on one's email and snoop on all of the contents of it, no one in their sane mind would even think of saving their private keys and other vital information on their email. If life's really that tough, then perhaps save your keys on your phone or write it down somewhere safe. It should be common knowledge that emails are insecure places to store sensitive data be it private keys, banking details, personal info.. the list goes on.
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Eh, venture capitals are private capitals that are used towards something by a group of 'trustees' in order to make a profit, by donating it into a small firm, venture or business that could make it big. Bitcoin is different, it is held by a lot of individuals and can sometimes be used as a currency when the need presents itself, so they are two completely different things, and perhaps the only similarity one can draw from bitcoin to VCs are the aim to make a profit by most people, and that's it.
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That is what most people believe or expect in the next 100 years or so, but I don't think it will be as easy as that, for by then newer and more efficient cash systems would have been developed, and bitcoin could have been overtaken by such currency systems--again, we don't know. Everything even 10 years or 5 years for now is uncertain, and with a lot of tensions going on in the major fronts of this world, I don't even think humanity would last long to see the last bitcoin being mined.
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The short-term FOMO and hype has since died out after the price has stopped increasing. It's normal for people to move funds around from wallets to exchanges and vice-versa one huge price movements are observed and are recorded. Most traders surely don't want to miss a thing when this happens, and so in order to be in the action when it happens, they are transferring their funds together with a lot of people trying to cash out within the same time. In the coming days, expect the mempool to be cleared of such hindrances and backlogs as the trading action, once again, settles @ $5000 and becomes stale.
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