1. How does Social Media effect Cryptocurrency?
2. How does Cryptocurrency effect Social Media?
1. I wouldn't say "affect" because social media has only been a tool to be used. and cryptocurrencies have been using it to advertise. and with that they have been "spreading the word" for good or bad (mostly bad since the bulk of the ads is ICO scam) 2. the only thing that I can think of is usage of the technology in creation of a new social media in a decentralized way. we have not yet seen anything like this despite existence of projects pretending to do this such as steem but end up doing it in a similar centralized way. |
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what you need to realize to get the answers to these question is that bitcoin is what it is! if you read the bitcoin paper you can see that the aim of it is perfectly clear. and the design is in a way to help reach that goal of being a decentralized payment system.
now what people use this design is up to them because bitcoin is never supposed to restrict people and force them to use it in a way that they don't want to.
so for your #1 for instance, when people use it for trading that doesn't change bitcoin's nature. it just shows those particular group of people are using bitcoin in one possible way.
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I've got a feeling that this topic does not even belong to a bitcoin discussion board because what OP is talking about is not about bitcoin and electricity despite the title. it is instead about electricity and the ways it is produced!
the "green" energies and the way you produce the electricity other than burning fossil fuels is a very good discussion but it is about electricity production and there is nothing bitcoin can do about it. bitcoin is a consumer of that energy and the consumer can not force the producer to change its ways. you have to focus on the producer instead of the consumer.
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2018 so far;
This year has been my favorite crypto year (my only year actually as I joined late) and it has had the most stability and it's support level has held off higher than any other year.
This year has been the year of a particular menace called ICO, with the ever increasing proliferation of ICO projects,the market is kinda looking like a dumping ground(most of this ICO's don't even meet their soft cap), everyone is looking to get rich quickly through this means, neglecting the due process and patience required,80% of such projects have been a scam, and the year isnt over just yet.. Bitcoin still remains king amidst all this though the situation with ICOs has not changed at all. from the first ICO to this day they are all bad and majority of them are obvious scams while the rest are non-obvious scams. that is why they have been getting dumped because this way of creating a new token has never meant to be used for long. it was a temporary fever in the market and the pumpers got the best out of it. now the time is up. |
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Trading is just like a mind game where you need to decide when to sell and when to buy at the right times to make money so preparing them for early is not bad though just like warriors preparing for the wars who have more positiveness going on them even at tha struggling time it will be same like to our mind of the trading is hard if we keep ourself in winning other than panicking then chance of surviving is more.
There were time we will need to feel the thrill and excitement of trading, its like a gambling yet youll know that it was due to your skills. The only mindset we need is how we will be able to earn on tgis bear market and keep our mind in focus and never get depressed. if you find trading like a gambling game then it means you don't have any skills in trading. as I have said many times in the past one of the bad things about this market is that it misleads people into thinking they have trading skills just because they made a couple of shots in the dark and made profit from the coincidental pumps that happened. the fact is if you have been making more or less the same amount of profit this year as you were making profit last year then it means you are a good trader. but if you find it difficult to make profit this year and if you were losing money then you should consider yourself a gambler without any trading skills. |
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This type of demanding happens when a newbie start to play gambling without knowing its outcome and resulting in getting investment to zero and then start to blame the site and cry like a child who demands his toy which got broken from him and blames the manufacturer for defects.  But who’d want to gamble on freebit anyway. I’m sure a lot of people doing it are doing it as a donation to the site when really all they’re doing is making the 5% house edge more profitable. The reason the won’t reduce the house edge it because of how profitable it is and how many people they can draw in who don’t know anything about it. I suppose many would still gamble there because of the faucet and the fact that they can get free bitcoin which they can withdraw with a very low fee (less than 1000 satoshi fee). and also the fact that using this site gives you a lot of other beneficial points such as the free participation in a lottery with a chance of winning a lot of money. not to mention the high referral reward and the 100% guaranteed investment profit which is unlike investing in gambling sites where you win one day and lose another. besides there is not that big a difference between 1% and 5% house edge. we are talking about rolling a number between 0 and 4750 versus rolling a number between 0 and 4950 (assuming you bet lo). how many of your rolls actually fall between 4750 and 4950? |
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as an investor you always want to buy at the bottom not when the rise is already half way on its way. of course in bitcoin the rises are always big so there is a lot of time to get on board for example last year the bull run started and the price reached previous ATH and that was the sign to get in and since the rise was big (to $20k new ATH) there was a lot of time but the time to buy was when price was lower at the bottom near $800-$900. and now is the same. you want to accumulate at the bottom when price is stable at $6k not when it already rose up and you missed the cheapest possible price.
waiting for the bull run to start is the safest method of investing and that is only good for traders not investors meaning those who want to make profit in short term by buying and selling bitcoin constantly not just buy and hold and sell or spend in long term.
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if you are "holding" USDT then you never understood what that coin was created for! it is for temporary usage not for holding. the company is not even guaranteeing anything, neither the price nor ability to exchange with fiat. There are now better, reliable and trusted USD backed stable coins,
what I am wondering is that what makes you think one centralized altcoin is better than another completely similar centralized altcoin? they are all created by a company that wants to make profit from a certain "need" in the market for a cryptocurrency that stays stable and can act similar to fiat while not having the problems of needing a bank. none of them are trusted, and there is the same suspicion about all of them regarding being backed with real fiat 1:1 the only way we can have a 100% safe (or close enough) stable coin is that if they are 100% regulated and basically become like a bank. which means they will be 100000% centralized and will require KYC and will have all the problems and restrictions that banks have with fiat.... in short there would be no reason for them to exist anymore. |
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there is no way that you can know how much bitcoin is going where unless these exchanges publicly tell you that they have received 5000, 10000 bitcoin in their wallets which obviously is not going to happen ever. so what you are telling us here is either a lie you are telling for whatever weird reason that might have or you saw some transaction on a block explorer and your imagination started running wild with it.
the funny part is that every couple of weeks we see a topic like this one be created talking with confidence about how a large amount of bitcoin was moved to an exchange and they usually say it is moved to be dumped and crash the market. then weeks go by with price being the same as always.
the other funny part is that these numbers aren't even realistic. if you think about it 10k bitcoin is equal to $65 million. and you can NOT even trust an exchange with that much money not to mention you can NEVER withdraw that much money from an exchange, the banks won't even allow it.
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resisting now resulted them being left behind. of course bitcoin and blockchain are here to stay, if it were to die it would have then long before the projects been developed. now forex brokers are pushing thier trader to also invest in bitcoin. where else can this go but adoption. they are just not moving forward, the technology proves to provide solutions for the current problems in many ways. they wouldn't have to make fud by now if they just take a look closer to blockchain when they first heard about it.
it is all about the volume. they don't care about whether blockchain technology is actually here to stay or is a passing fancy. for all these investment groups care the whole system can disappear in a year or two. all they care about is how much volume goes in and out of this market so that if it was high enough that they could benefit from it, they enter and make their profit even if it is for a little while. them saying "it is here to stay" is more like making a statement that people want to hear! |
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technically it should not matter because of the way bitcoin is designed to be. a decentralized currency like bitcoin should never be affected by the way government and banks treat it because it needs neither of them and more importantly it was created so that we can have a system without either governments or banks!
but of course it is obvious that bitcoin can flourish a lot faster and easier in an environment that is friendly towards it rather than in a hostile environment. and the advancement of the technology will be a lot easier too.
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If you take the position that "all altcoins are scams" then you're probably a Bitcoin maximalist. It's basically just a term used by altcoiners to describe people like that.
Wow,I realise that I AM a bitcoin maximalist.  And all altcoins are indeed scams(the altcoins that aren't scams are useless,they are used only for pump&dump).We need more bitcoin maximalists in the crypto world.This is the only way for bitcoin to start growing again.Make bitcoin great again! I can't tell if you are being sarcastic but for what it's worth saying all the altcoins are scams and pump and dumps is not correct either. granted most of them are, but there still are some nice ones too. but unfortunately these good coins are always overshadowed by the scam pump and dump coins which take the top rank places and get all the focus because their pump is profitable. |
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it doesn't really work that way though!  first of all let me mention that the recent rise was not a rise at all but in fact a fall. in other words value of Tether dropped so in order for altcoins to keep their value up they needed to rise against Tether and that is what happened here. but lets get to the middle part of OP comment. when bitcoin rises (assuming Tether is worth $1) altcoins seemingly rise up but not because they keep their value, in fact they fall in value against USD and BTC but because this fall is not equal to bitcoin price rise, the final result is a rise. for example if bitcoin is $1000 and some altcoin is worth 0.1 BTC and then bitcoin goes up to $2000 that altcoin, if it remains 0.1 BTC will rise to $200 which is impossible for that coin to happen because there is nobody buying it. what happens is that rise of bitcoin from $1000 to $1000+ will start creating arbitrage opportunity in ALT/BTC and ALT/USD and as traders arbitrage this the final value of that coin will go somewhere between $100 and $200 and closer to lower bound. so the final result will be an altcoin worth around 0.06 BTC which is a big fall but thanks to arbitrage traders the value of it rose a little to $120 in a fake manner. I don't know what to call that movement, rise or something different but recently, 15th october was the only day when I haven't checked bitcoin's price everything happened so quickly that I got information of price on this forum. Btw tether didn't fall so much to cause almost 1/2K rise in bitcoin's price, tether got -1% but bitcoin got more than 10%. in this particular case it was not a drop, it was not a rise either. there was a slight price rise in bitcoin but that is negligible. the best example of this case that I can think of is the case of a fiat in a country that is undergoing a financial crisis. like Turkey, Venezuela, Iran,... for example if $1 was worth 10 units of their fiat prior to the crisis, and if it were worth 20 units of their fiat after it, in this process USD value did not go up. instead the fiat value of that country dropped while USD was stable. in this case 1 bitcoin was 6500$ and 6500 Tether because 1 tether was 1 $ but when 1 tether tanked and reached 0.9 $ the value of bitcoin which was 6500 $ became 7200 Tether. in this scenario bitcoin did no rise but Tether tanked instead. I know tether wasn't exactly $0.9 but price reached that high because when the crash happens in an altcoin market it is followed by a panic and that panic leads to people pulling their orders and that makes the movement that much easier. lack of arbitrage trading due to disabling of deposit/withdrawals was also helping this matter. |
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Venezuela isn't surprising, but what about Argentina and Egypt? Argentina is pretty interesting because rules are apparently pretty relaxed there. Maybe trading volume as a whole, not just P2P specifically, is spiking because of economic instability? The article doesn't say anything about Egypt, unfortunately.
Croatia and Switzerland seem to be doing okay economically and generally have relaxed Bitcoin regulations, so people are probably just trading on exchanges for convenience.
I think this is mostly because these countries don't have a local bitcoin exchanges where they can easily buy bitcoin inside their own country. any other exchanges that exist today for purchasing bitcoin will be considered "foreign" for them and sometimes you either have bank problems or fee problems which means higher costs. so P2P trading becomes a better option in comparison hence the increased volume. and nowadays with adoption of bitcoin growing, the volume is going up everywhere. |
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that is the whole power of a decentralized currency!
it doesn't rely on a centralized "institution that protects" anything. instead it relies on its users, or more precisely on the network and the participants of that network which are the nodes. this in my opinion is a great design and gives bitcoin the power that is making it stay number one and still grow.
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I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.
So something like Tether just with gold instead of USD? I think there already are altcoins that claim they are backed by these things. but that doesn't matter. similar to Tether they will be centralized and at some point their integrity will be questioned. not to mention that you can never keep their value stable as you can see with USDT, it is susceptible to drops and drops have the risk of crashing it to the ground. imagine if Tether dropped drastically instead of this current small drop, the panic dump of it would bring it down to 0. |
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from what I have seen, no guide will ever change the wrong mindset of some people. most of the times people who are like this have little understanding of how trading works. what they did was that they saw someone else make profit (it may even have been fake) and now they are intrigued to do the same but since they are also lazy and in some cases dumb, they end up gambling in the market.
worst part is that the market is so cruel to these people. first they "win" a couple of bets as they get lucky and the coins get pumped (like last year which you blindly could make profit) but then as they gain more (fake) pride the market takes everything they own and bankrupts them.
all these steps in OP are good but the first thing in my experience is understanding the market dynamic. in simple terms to know what the hell is going on in the market and what makes the prices go up and down for each different coin. and most importantly to know how much potential and what kind of potential different coins have. some have a huge potential for short term (pump coins for instance) but mistaking their potential for a different type would mean big losses.
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this sounds like a great idea but with further thinking I am wondering that with existence of a lot of good websites (even wiki-like websites) about trading, for example the famous investopedia website, what more are you going to offer?
there are two parts to trading cryptocurrencies. first is the general aspect of trading which investopedia covers excellently. and the second part is specific to cryptocurrencies which again investopedia has multiple articles about.
the only thing I see lacking is the concept of pump and dumps which everyone knows they exist but sometimes they want to pretend it is not.
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these are good news and there are lots of them and so often even but they are not good enough to be considered a positive news that can change the price trend that we are currently in and get bitcoin out of this stability that it is stuck in.
the last one about ICO regulation doesn't seem to be correct specially since the source is not one of the good news sites. what I see is more restrictions and more bans of ICOs in different countries instead because of all the money laundering that happened using them. even if it is, that doesn't have anything to do with bitcoin.
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AS far as i'm concerned , the government will not allow the world lead to a cashless society , as this is to be true , the government find it very hard to control, thereby society is so complex and complicated
cashless mostly means currency without physical form not without fiat. the fiat as we know it today can change form as it has already changed its form multiple times throughout history from goods to physical coins to paper then finally to digital and possibly to cryptocurrency. up until cryptocurrency has already occurred and the world is mostly digital now but I don't think we will see it turn into cryptocurrency yet. and when it does it will be a form transformation not the way it works fiat will still be centralized and work the same way as before. |
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