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1  Economy / Economics / Re: Coinbase IPO was the largest IPO in 2021. 86 billion USD valuation on: August 23, 2021, 06:26:27 PM
Given how "small" Coinbase is compared to Binance in terms of trading volume and customer base (and probably also profitability), I was expecting the stock to drop by a lot. If you compare businesses across a sector, why should Coinbase have a higher valuation than Binance? That didn't make sense to me. Or do you know of any specific reasons why that could be justified?

That's strange. Coinbase claims to have tens of millions of active users, and most of their userbase is from North America/Europe. Binance may be having a higher number of users (but the margin may not be very large), mostly from East Asia. In terms of overall trade volume, Binance has the edge over Coinbase. Taking in to account all these factors, the valuation should be more or less similar for these two. And at this point, Binance is valued 1.5 times higher than Coinbase ($76 billion vs $54 billion).

How did you come to the conclusion that they should be roughly valued similarly?  

#
Name
Exchange Score
Volume(24h)
Avg. Liquidity
Weekly Visits
# Markets
# Coins
Fiat Supported
Volume Graph (7d)
1

Binance

$28,383,863,536 (Vol 24h)

729   (Avg liquidity)

25,870,102 (weekly visits)

1397 (markets)

384 (coins)   

AED, ARS, AUD
and +43 more (including all major currencies)

Coinbase Exchange

$4,006,924,944 (Vol 24h)

588 (Avg liquidity)

3,017,031 (weekly visits)

284 (markets)   

94 (coins)   

USD, EUR, GBP


Isn't the volume the most decisive number here? Which also correlates with the weekly visits as obviously. I would say Binance should in pure numbers be above and beyond Coinbase. Binance will now also get fully regulated. That might be the difference. But I am quite sure in terms of ROI Coinbase is nowhere near Binance.

Add: One factor might be that Coinbase has huge OTC trading volume that is not reflected on CMC.
2  Bitcoin / Bitcoin Discussion / Re: Why did you miss Bitcoin? on: August 23, 2021, 06:19:21 PM
I don't miss bitcoin because I just want to leave for a while and if the price is back to normal then we will also return to the crypto world, because this investment is long term so we are free to go and come back whenever we want, maybe because of this bitcoin very much loved by its users with the freedom of thought they give miners

Some people already made a profit and they wanted to rest for a while and do things they really want to do without stressing themselves with the crypto market every day. Most likely people that are missing the bullish trend right now didn't actually expect that it will gonna happened this month. Therefore, they just right there waiting for the right time to make an entry to the market to also get some profit while it's still hot and moving its price up.

Well the OP was rather referring to the scenario where people miss out on Bitcoin fully. There are many possibilities that have been discussed all over I would say. Asking the people here doesn't make so much sense because what do you even mean by "miss"? Did someone miss Bitcoin when he found out in 2017? Or 2018? I don't think so. The very early guys were at least tech gurus, but for sure IT guys and cryptographers or programmers.
3  Bitcoin / Bitcoin Discussion / Re: Does Bitcoin increase wealth equality? on: August 23, 2021, 06:16:29 PM
In order to become an effective tool even for the poorest in the world, Bitcoin has to improve on many ends. Speed and cost are just two things that must improve, but usability is also a big one because most of the very poor won't have a smart phone. Besides Bitcoin itself, other things like the Internet also has to improve especially in poor rural areas where Bitcoin could play a vital role. So there are a couple of things that need to improve in conjunction with Bitcoin in order to make it the tool some wish it to be already.
4  Economy / Economics / Re: Die today, Die tommorrow, the same dying! still get vaccinated! on: August 23, 2021, 06:02:52 PM
When you live in a world when majority are ignorant about their own safety let alone the safety of others, you need to be careful because i am tired of going out during this period because of people roaming around without mask and the nerve to move like that is a concern for me as i am yet to get vaccinated as i am waiting out to see better results from the vaccines Grin .

Here also I am witnessing a lot of guys moving around without their masks. Some people think that doing so will make them look macho. But whenever I see someone without a mask, I try to keep some distance and stay away as far as I can. The cops have been penalizing those who come out without a mask, but these people fight with the cops as well. And social media is full of videos, which accuses the cops of disproportionate response. And less than 8% of the total population has been fully vaccinated in my country, which makes such behavior even more dangerous.

People from Vegas and some parts of the US and Canada is not wearing mask anymore because majority of their population has been vaccinated.
Whereas, In my country officials were still busy how they'll take advantage of the funds intended for the mass vaccination.
However, even If a person is fully vaccinated, travelling to other regions still requires antigen test and swab tests.

I don't believe the statistics anymore. Local government in my place had been constantly killing small businesses. So, I don't care much about people not wearing face mask. They're responsible of their own health anyway.

Yes they are responsible of their own wealth anyway is correct of course, but what if they are careless, catch the virus and infect someone who is in high danger when it comes to the virus? That is a different story to me and in fact a serious problem. If all those who don't want to get vaccinated or who don't wear masks anymore were isolated from those who take a lot of care, it wouldn't bother me, but this is a thing about society as a whole. I can be careless about my health, but can I also be careless about the health of others? My opinion is no, you can't.
5  Bitcoin / Bitcoin Discussion / Re: Why are some individuals hostile to Bitcoin? on: August 23, 2021, 06:00:17 PM
Those who do not know very well about Bitcoin and have been making various negative comments about Bitcoin from the beginning, only make negative comments about Bitcoin on various social media.I avoid all these people all the time. Especially where the big businessmen of the world invest bitcoin, there is no need to listen to the small limestone.

As investors we have to be able to choose what we deserve to hear, everyone can talk about bitcoin without a good knowledge base, they are mostly afraid that their business is threatened because of bitcoin, the best thing is to focus on the goal and ignore what they say.

But we should never fully exclude the possibility that there is some truth to what somebody says who really dislikes Bitcoin. I think it very much depends on the tone they choose to convey their points. As long as they argue with substance, or with a bit of substance, it can be worthwhile to listen to them as well. We can also be wrong at times. We most certainly are.
6  Bitcoin / Bitcoin Discussion / Re: Why are some individuals hostile to Bitcoin? on: August 22, 2021, 06:21:21 PM
- they don't understand it
- they have read so many confusing side of btc online that aren't true
- they are once a victim of scam,
- they have relatives/friends who have been a victim
- they are naturally hostile in nature  Wink
one of the above must have occurred for anyone to be hostile towards btc, that's why it is always good to do one's own research and not rely on what you read or hear, if i had followed what i read, i won't be in crypto today, it is always good to learn.
These are commonly the very reason why people project hostility towards bitcoin. And I must say that there will always be people that will be unhappy about something even if the world is happy about it, more so if they have bad experience with it. We really just have to face the fact that many are still not in favor of crypto even at this modern era, and many will say bad things about it just to discourage everyone else from patronizing it.
I think I would add to the list that they feel like they ultimately have missed the boat and are now really hoping that Bitcoin is going to fail because it is a pain in the ass to see someone else making a ton of money with it. I still know about friends who are into finance and could really have a relatively easy time to understand it, but still they refuse to do so. When I ask them whether they read a single good book about it, nope. Who cares though right? Let them do their thing.

Some people do have an envious nature, for those who feel too late to know Bitcoin, and seeing other people succeed making a lot of money.
In the end these people did choose to be negative about Bitcoin, actually it is their right to do that. But it's just like it's not wise if someone
behaves like that, even if their minds are open and willing to learn Bitcoin properly. It's never too late to invest in Bitcoin, even starting from now
can still make a lot of money. As long as we have positive intentions, all things will go well. But those who reject Bitcoin, closed his mind.
So it's hard for these people to see Bitcoin from the positive side, in the end, we all have to go our separate ways.

Correct it is their envious nature, but they prefer to call themselves cautious and not naive in such a situation, implying that I was the opposite of what they are. But you know, one shouldn't really care. If they deny themselves the chance to at least participate with a tiny little bit, not even a large investment but just a bit of their wealth, why even bother to convince or help them?

I have talked about cryptocurrency so early on and you meet all kind of different reactions. Some can't really believe what they hear, some can't understand it, some don't want to understand it and some just hate what they hear. That is ok for me and I will keep diving into this space for as long as I can on a frequent basis.
7  Economy / Economics / Re: Die today, Die tommorrow, the same dying! still get vaccinated! on: August 22, 2021, 06:17:55 PM
The pandemic changed the lives from all walks of life and it took some grave events to all people all over the globe that's why we should never be complacent all the time, follow strict protocols of hygiene all the time. We still be vaccinated but it's not for lifetime though, it's only a temporary. All things that were left is to lift our prayers to god for protection to our family with this virus and most importantly that we can go back to normal as much as possible.

With all the life that this pandemic took from many people, the crisis that we are now facing in life, poverty, health risk and the anxious that we feel every time we heard a new variant is developed, circulating and much more dangerous than the old variant I really would not second thought to get vaccinated. Vaccine is not mandatory only those who are willing to get a dose could have but we should consider the much higher risk if we are not vaccinated. So far being vaccinated and continue practicing safety precautions it is the best armour we could have right now.

At the beginning of the pandemic, the crisis began to hit so anxiety began to occur but over time now there has been 50% activity but it is still under government supervision so the crisis in humans is still happening right now, I think this pandemic will stay with us longer .

The new delta variant has also heard the news about this, this will be another concern for people around the world, can this vaccination be the most powerful effect? Some still continue to oppose it but indeed that is the only way to prevent it by treating it, even now there are many variants of vaccines with their respective doses, so what we need to know is to make good observations.

Yes that is what experts already say, the crisis will stay longer but in a different from that what we all went through so far. With vaccines and testing we are going towards a normal life in the not so distant future, at least they believe so. The big problem is the variants of this virus and that it can always mutate again. Nobody can predict how that will play out in the future.
8  Economy / Economics / Re: Coinbase IPO was the largest IPO in 2021. 86 billion USD valuation on: August 22, 2021, 06:10:36 PM
I'm not surprised it was the biggest, as it's a company that's already known to crypto users, so there's a minimum risk of getting scammed, and they have 56 million users, so a huge community of people behind them. These two things sound promising enough to invest it because reputation + a huge user base almost guarantee the price will skyrocket. But that's a public offering, so it's about selling shares to people. That's what might have gathered attention not only of the crypto community, but of big stock traders as well, since getting into something crypto-related and yet familiar is getting more attractive to them.
I have to say they dropped pretty quickly afterwards, right now it is like 50 billion or so in marketcap. So, it is not just about having a lot of users or being great, they have an amazing model to make money as well with the trading fee's and that is what most of the wall street people did as well, they just make money based on commission whenever they convince someone to buy a stock but Coinbase is a bit different in which they do not even convince people, people go register an account to do that job themselves.

So, the reason why it was highly valuated and now not so much is the fact that it is a great way to make profit, buy the stock and hold it long enough and they will keep on profiting, the operating costs are not high and the profits are steady and that is what you want from any company or stock you own. It might be down now because it was overvalued, but the idea stands that it is a good stock to own.

Given how "small" Coinbase is compared to Binance in terms of trading volume and customer base (and probably also profitability), I was expecting the stock to drop by a lot. If you compare businesses across a sector, why should Coinbase have a higher valuation than Binance? That didn't make sense to me. Or do you know of any specific reasons why that could be justified?
9  Economy / Economics / Re: Cryptocurrency is the biggest investment opportunity in the future on: August 22, 2021, 06:08:38 PM
Bitcoin is now the biggest opportunity in society. Bitcoin has existed for more than ten years, and it has driven the development of blockchain digital currency. Due to the high price volatility and other characteristics of cryptocurrency, there is a lot of room for speculation. Now more people are researching and investing in cryptocurrency, and the accepted scope of cryptocurrency is also expanding, and it can be traded and circulated all over the world.
Cryptocurrency is the development trend of today and in the future, and the biggest investment opportunity will be cryptocurrency in the future.
Yes, cryptocurrency is the greatest potential for me, and it has already aided me in a variety of ways and provided me with the things I desire. I see bitcoin as a way to become financially solid in the future, which is why I'm taking advantage of this opportunity to profit. I imagine myself already to be stable and don't have problems with money if my assets in crypto have pumped.

Everyone agrees here obviously that OP is right! Wink And he probably is, but don't underestimate stocks as well. Just check out how some small pharmaceutical companies went through the roof exactly because the pandemic happened. Some speculated big time on it and I just read about a guy who was ok in life and quite well situated but bought tons of shares of a company that now participates in providing vaccines and boom. There are alternatives to Bitcoin as well depending on the circumstances that sometimes can't be foreseen.
10  Economy / Economics / Re: Why bitcoin will appreciate forever on: August 22, 2021, 06:05:17 PM
We can't really say "forever" because people think that bitcoin is the last improvement we have on money. Fortunately for the future people (no idea if we will see it) the technological improvements are going on every single day, literally every single day on earth something better version of something gets created, the humanity reached to a peak point where innovation is either small or big but constant.

So, bitcoin is definitely not the last currency, it will probably continue for decades more but we are reaching to a point where humanity will colonize other planets and at that point do you really think that we will still be using bitcoin? Or dollars for that matter? I think in 100+ years all of the currencies we are using today will be gone and something much better will come to terms.

I also think that there is no such thing as infinite value. It is not only because of the theory presented here, but because possible alternatives could appear and also provide alternative investment opportunities. I think that is the most likely reason why Bitcoin would not increase forever. For as long as there is no such thing as an alternative investment opportunity, who knows maybe bitcoin will indeed increase in value for the time being.

But there could also be a viable different cryptocurrency as well or simply dividend paying stocks which at some point make it more attractive to switch. People will be switching back and forth.
11  Economy / Economics / Re: Why did Monero creator let himself be known? on: August 21, 2021, 09:24:44 PM
First of all, Spagni didn't create Monero from what I've read.  Second, where does it say that he's being denied bail because of anything he had to do with Monero?  Did you put any thought into your post before you wrote it, or are you just milking the Bitvest campaign by doing the absolute minimum while making posts?

Spagni is going to be tried for embezzling funds, that's what I've read.  His charges have nothing to do with his association with Monero--but that's the only reason why this story is newsworthy, and it's a smear on crypto.

Thank you for clarification. I wasn't understanding the post at first. He isn't monero creator at all, just a developer

I read some news around, and the only real implication of Monero in all this incident is that he could use cryptocurrency to flee, so he might be having some tougher restrictions.

Quote
Spagni is believed to have “significant cryptocurrency assets that would enable him to flee” as well as a “watch valued at $800,000,” according to the warrant.
https://www.coindesk.com/former-monero-maintainer-fluffypony-to-be-extradited-for-non-crypto-crimes


Well this one made me smile a bit, an $800,000 watch speaks a lot for the fact that he probably owns a good amount of crypto and what not. I have no idea in how far that information is confirmed, but you probably wouldn't spent that amount on a watch if you weren't at least double figures in the millions.

I guess they will hit him hard precisely because he is rich and he wouldn't most likely really bother to pay back the amount plus some interest. I'd say in front of a judge it is not that beneficial to be rich. Going to be interesting to follow that story.
12  Economy / Economics / Re: Die today, Die tommorrow, the same dying! still get vaccinated! on: August 21, 2021, 09:15:28 PM
I have survived the pandemic until now and thank God I have strong immune system and I am not planning eit3on getting vaccinated. I have known some people where they get vaccinated and die even though they didn't get positive in covid19 virus. A family is very healthy and yet they decided to get vaccinated then later on the whole family died not because of covid19 but because of the vaccine.
No matter how strong your immune system is, your body will never make antibodies against covid-19 without being vaccinated or infected. So you should take the vaccine to have time. I haven't seen anyone die for the vaccine. I and my family have all been vaccinated. No one has any problem. So don't be panic.

While there are indeed people who can't get vaccinated for health reasons, it is even more the duty of guys like you and me who can get vaccinated and be less of a threat to those who can't get it. Getting the vaccine is also a lot about solidarity. Ultimately, everyone can make their own decisions, but statistics are clear here and the risk of getting sick, like dangerous sick because of the vaccine are essentially zero. On top of that you can help save others's lives.
The argument is always time and it was so quickly developed and so on, yet but we as a species became better and faster at everything. There are hundreds of things one could do to stay healthy, not smoke, no cigarettes, don't eat food from any sort of mass production. We couldn't even use DNA to hunt down criminals in the 1990s, now it is the easiest thing in the world. A micro tiny piece of skin is enough to even simulate what your face could look like. I trust science, they aren't joking around risking the lives or health of millions (or even billions).
13  Bitcoin / Bitcoin Discussion / Re: Does Bitcoin increase wealth equality? on: August 21, 2021, 09:11:54 PM
Bitcoin is not even supposed to "increase wealth" for it to be equally or not.

Based on what we've seen so far, adoption looks something like: cryptographers -> early adopters -> suits/elite -> the masses
You are thinking "day one", so it is something like this
first half of 2009 cryptographers
second half of 2009 the masses.
Whether or not the "masses" chose to adopt bitcoin is an entirely different story. For example an average Joe might have amassed thousands of bitcoins during 2009.

Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).   
Wealth is not defined by bitcoin. Bitcoin is just one currency among hundreds of them. The "wealthy" have already printed and accumulated trillions of dollars and nothing is stopping them from also buying bitcoin. I also believe that so many of them like Buffet have been buying bitcoin for years.

One example for someone amassing masses but not being a cryptographer could be Roger Ver! Wink Sure he had a business selling IT stuff, but he probably purchased thousands indeed. And he also was extremely fast in registering Bitcoin.com. I have always asked myself how nobody else had the idea earlier. Anyone of the cryptographers must have had an idea of Bitcoin becoming successful. I guess Roger was lucky with that one.
14  Bitcoin / Bitcoin Discussion / Re: Why are some individuals hostile to Bitcoin? on: August 21, 2021, 08:47:42 PM
- they don't understand it
- they have read so many confusing side of btc online that aren't true
- they are once a victim of scam,
- they have relatives/friends who have been a victim
- they are naturally hostile in nature  Wink
one of the above must have occurred for anyone to be hostile towards btc, that's why it is always good to do one's own research and not rely on what you read or hear, if i had followed what i read, i won't be in crypto today, it is always good to learn.

These are commonly the very reason why people project hostility towards bitcoin. And I must say that there will always be people that will be unhappy about something even if the world is happy about it, more so if they have bad experience with it. We really just have to face the fact that many are still not in favor of crypto even at this modern era, and many will say bad things about it just to discourage everyone else from patronizing it.

I think I would add to the list that they feel like they ultimately have missed the boat and are now really hoping that Bitcoin is going to fail because it is a pain in the ass to see someone else making a ton of money with it. I still know about friends who are into finance and could really have a relatively easy time to understand it, but still they refuse to do so. When I ask them whether they read a single good book about it, nope. Who cares though right? Let them do their thing.
15  Bitcoin / Bitcoin Discussion / Re: Can bitcoin make someone the richest in the world? on: August 21, 2021, 08:41:36 PM
I think this one is easy to be answered: If ever anyone becomes the richest person in the world with Bitcoin, it is probably Satoshi Nakamoto. I don't think there is a person or institution owning more than a million Bitcoin. In theory it could be possible though. If someone is a billionaire and slowly buying when Bitcoin was worth Cents, who knows. It is not entirely impossible. I am not exactly sure, but when Bitcoin was first traded on the very first exchanges I believe in 2010, it was traded for prices like $0.03. But that's is what I am trying to say, wouldn't that person be totally crazy when Bitcoin hit $1,000 to not sell? That is like 3,333 x, how can you even hold further?
16  Bitcoin / Bitcoin Discussion / Re: Why did you miss Bitcoin? on: August 21, 2021, 08:36:38 PM
In recent years, more and more people have started to talk about Bitcoin with me, and the most common words are:

1. I started paying attention to it many years ago, but unfortunately I didn't buy it.
2. I bought it before, but it was a pity that I got off too early.
3. I should have listened to you at that time, buy some.

In fact, just one sentence: missed it.
Why didn't most people expect Bitcoin to be as brilliant as it is today?
In my opinion, the key reasons that make you miss the Bitcoin opportunity are actually the following aspects:

1.Whether the information is unobstructed.
This one determines your vision and insight.
In fact, most of the channels for people to obtain information are from the circle of friends, and a few are from themselves and have excellent qualities that love tossing.
The level of your circle of friends can determine the quality of the information you get.
If no one tells you, or if you happen to pay attention to cutting-edge technology, it is impossible for you to hear about Bitcoin. You can't search for relevant information on search engines, after all, you can't search for something you don't know at all.

2. Resolution
The more information, the stronger the resolution needed.
It may be better if it is a field that you have always understood, but if it is a field that you did not know before, can you distinguish it correctly?

3. Whether the investment capital is idle?
If the money you invest is from a loan, you will check your account balance every day. Short-term fluctuations will make you not hold it for long. Only after you invest and forget the existence of the money can you hold it for a long time.

4. Mindset and boldness.
No matter what the investment is, it is normal to have ups and downs, ups and downs.
Buffett said that he is fearful when others are greedy, and greedy when others are fearful.
The question is when everyone is afraid, do you really have this mentality to stick to your own opinions? Does the conclusion you insist on must be correct? For example, when Bitcoin crashes 80% for the first time, can you be indifferent, and will double up after being determined, instead of thinking that this is just a scame, and now it’s crashing?

If time goes back 10 years and give you another chance, will you really take out your real money and buy it when Bitcoin is still considered air?
If you are given another chance, will you really insist on not selling after you have made several times the income and hold it till today?
If you were to give you another chance, would you really listen to my advice and allocate a bit of Bitcoin as an asset?
No, you still won’t. After all, I'm not an expert, because you don't believe that the future of Bitcoin will exist like a sea of ​​stars.

I would say you even need to have the money in the first place and still, even if you bought Bitcoin in 2013 or so, most likely you would still have sold even if it is your own money, not a loan. The reason is that usually be insane to hold something that went up ten times in value, then fifty times in value, and every single time you owe yourself to be realistic. it is much easier in hindsight and then tell yourself that you were so damn certain it would go up. Yes, I can very well imagine that situation, but let's say you have 10 Bitcoin and it hits $20,000 and you could now by an apartment in a nice spot. What is the right decision here? You decide to keep it it drops all the way down to maybe $10,000. Wouldn't that be the moment where every average human being starts regretting? The more the money is of meaning to your most existence, the more you will doubt what the right thing is to do.
17  Economy / Economics / Re: Are you making money online? on: August 21, 2021, 08:29:21 PM
In our lives, it is not enough to rely on just one income, because when that income is constrained, we have no other alternative to meet our daily needs.
Real world income
1. Car wash
2. Hydroponics
3. printing/stationery business
While online income
1. Trade crypto
2.Youtube
3. Bounty Hunter
And this work is what I routinely do until now
These are quite a lot of activities to fit within a day/week. If you do not mind me asking, how are you earning money from YouTube, though? Do you have an active channel with advertisements set up? If yes, with what is it related? Cryptocurrency, gaming, DIY? I'd subscribe to help another user, if you'd share it.

Most of the people here on this forum are probably fine financially, but when I see events happen like in Afghanistan where within seconds you have to give up literally everything you have, money, a small business you built with hard work, some of them even their families when not all of them can escape. That is the moment where I think how rich am, not living in a country that will ever force me to flee and leave everything behind. It is disturbing to see people lose their everything and they have to start all over with essentially no chance to make it. Germany isn't all honey and butter when you meet a new culture, don't speak the language and are a parent of three or even four. That is hard!
18  Economy / Economics / Re: Bitcoin after the pandemic on: August 12, 2021, 04:56:26 PM
In my opinion, if the covid 19 pandemic ends, the economy will recover, as well as bitcoin which will continue to grow and develop in a better direction, because during the pandemic many people have been involved.
and feel the benefits of bitcoin although with different goals.

Bitcoin already recovered pretty much, I guess that can be said with certainty. Yes it is not back at its ATH, but come on it is still remarkable where we are at now. As for the economy, that remains to be seen and is not a thing that will become obvious or evident within a year or two. A big crash can also come with a massive delay, maybe even five years until the system collapses because it was overburdened with debt during the pandemic. Debt that is going to greatly exceed any economic growth as most of the debt was put into speculative assets that only increase value on paper, but are not contributing to real economic growth the same way investments in R&D would probably do.
19  Economy / Economics / Re: Bitcoin doesn't care about Tesla and Amazon on: August 12, 2021, 04:53:46 PM
Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

Public figures certainly have an influence but not significant, I'm sure when the price of bitcoin fell not because Elon Musk gave a negative opinion about bitcoin, but because many countries rejected bitcoin the big one of course was when the UK refused Binance to operate in the UK.

That very much depends on who the public figure is and whether that figure acts within its space of expertise. When Musk talks about crypto that first had a massive influence because of his wealth and outstanding achievements in other areas (except for PayPal, which is kind of similar). When Bill Gates talks about software or computers (or Steve Jobs for that matter, were he still alive), that does have massive influence. Or Buffet, when he talks about stocks. Interestingly, we could see that Buffet's negative stance on cryptocurrencies had zero influence, literally zero, because it is not his area of expertise and everybody knew that. Nobody would easily attack Buffet for his opinion on stocks as this dude knows what he is doing, but when it comes to crypto everybody really knew he is a newbie with a skewed agenda on top of that.
20  Economy / Economics / Re: Crypto vs Fiat on: August 12, 2021, 04:50:58 PM


If you understand this picture, congratulations, if you don’t , then you don’t understand money , no matter how much you have in the bank.
#Bitcoin  is down 4% today. But next few months BTC could pump 400%.  Pump or dump, storing your money in crypto beats saving up in the bank.
Bitcoin is indeed the digital gold. Aside from being a utility one, BTC is now becoming one of the best asset anyone could have. Many people are now seeing it as an store of value asset and likewise as an investment. Saving money in your piggy bank or typical banks will definitely lose its value and that's where BTC comes in. However, I doubt your 400% increase in value. Btc however pumps up for over 300% since last year and that's good enough.

Yes but the pump will come to an end and why people consider it a store of value or a great investment vehicle, one shouldn't forget that hardly any asset can also drop as fast as Bitcoin. If Bitcoin is once worth $10 trillion in total market capitalization and it gets hacked, well, gold can't be hacked at least. That is a risk that doesn't exist. Could it be produced synthetically? So far it sounds unrealistic and we probably would find out about it in a more timely manner than we would find out about Bitcoin being hacked and crushed. I am absolutely pro Bitcoin by the way, this is just some food for thought.
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