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It`s funny because gold was always worth something and exist physically and bitcoin is nothing  at some point someone will say that it is an example of wasted energy and computing power Sad and then normal people like as lose their invested savings and those who get rich on time will get out of it. Every cryptocurrency simply a domino effect, the question is whether it will be this or next year... Following Tesla, Microstrategy, Bank of New York Mellon, Mastercard, PayPal, Morgan Stanley and many other companies, it seems that the domino journey has just begun. |
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Due to quantitative easing and the printing of US dollars, this is asset inflation.
Unless the Fed tries to withdraw large amounts of money from the system to save dollars in the long term, real estate and stock markets will not fall. (But this is extremely unlikely)
Too much money at the top.
If they all buy BTC in U.S. dollars, the money still exists. Someone is selling these bitcoins. Therefore, it will be reused for other value assets such as real estate and stock markets.
In fact, the Fed will again increase its quantitative easing policy in the next market downturn.
Everything will continue to rise until the dollar plummets.
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With the value of one kilo of gold at 57.6k dollars with not so high a liquidity, and the new ATH of btc at above 51k dollars and rising rapidly, the quote from the german analyst -"looks as if btc is eating gold", makes a lot of sense. In no time at all, we will be witnessing a complete overun in the value of gold by the valie of btc.
Bitcoin is faster and more convenient than gold, but the "speed of light" can be reached |
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I do remember when the price was nearly 40K so many people were saying it's the bubble and they were waiting for the price to fall and give them a change to buy, now it's it's above 50K and still some people don't believe how the price is rising. In less than 12 months ago, bitcoin was less than 4K and just imagine how much profit they could take out if it by investing even a little amount of money. However, I still believe bitcoin can rise even more because there is even more interest to it in the work and more companies are investing on it.
Gold has little to do with inflation. It has a good correlation with real interest rates. Gold may fall due to rising interest rates (for example, the US 30-year Treasury bond has risen by more than 20% year-to-date). Bitcoin may be more similar to growth stocks. Because of FOMO and belief in its long-term prospects (actually the entire crypto industry), people seem to join in. BTC does not pay any interest, so if it is not viewed as a growth story, it will have the same limited utility as gold. The day it becomes a stable holding of value (for example, it does not fluctuate wildly in double digits every month) is the day it becomes boring like gold. |
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Fantastic graph, People used to say that Bitcoin is very volatile, they were afraid to invest in Bitcoin, they thought that if the price of Bitcoin goes up it can go up to $20K! It was very hard for them to think that bitcoin's price can go over $20K. They didn't want to accept Bitcoin as a safe haven. Today we have come close to the price of gold by proving everyone's idea wrong. Now if we compare with BTC and Gold then Bitcoin is more transparent and safe than Gold, Bitcoin's rarity is greater than Gold's, the legality of Bitcoin is much more than Gold cause you can't corrupt it, steal it easily. Bitcoin's liquidity is much higher and easier than Gold's. I think they are right, Bitcoin started to eat gold. But I also think that I underestimated the stock market and the real estate market, and I was trapped just to find a reserve of value. Maybe Bitcoin can depreciate real estate and the stock market by 80%. may be. |
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It seems you are right, the target is to boost their BSC and boost BNB price. Binance is always the best to manipulate such things.
They targeted to be the crypto monopoly, they have partially achieved it. This is part of that process.
Just to say you, you should move this thread to altcoin service discussion.
I am amazed by the fact that the network is only congested to withdrawal, but it is not congested to deposit ETH or ERC-20 tokens. Very convenient for binance. [/quote]This is what I have been telling people for a few days, because I have been seeing the rapid growth of BNB. We may all be dancing with our unpopular gains now, but please rest assured that this is not a way to bring encryption into the mainstream in the form we all want. I know it can be daunting to wait for ETH 2.0 or Polkadot or Cardano to fully flesh out their products, but we need to be decentralized to keep the core part of the crypto ecosystem, otherwise we just transfer control of the financial system from the government to the company |
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BNB seems good for trading (for me) but Binance has problems at the moment, I can't even trade, F*** it.
Centralized transactions that temporarily suspend blockchain withdrawals are nothing new. Binance has done it many times on Ethereum in the past, even before Binance Chain and Binance Smart Chain appeared, and will continue to do so as needed. The same is true for Binance Chain and Binance Smart Chain, which have also suspended withdrawals many times. All chain stores will need maintenance or encounter problems, and will need to be temporarily suspended. Just because BNB has grown exponentially in the past few weeks, there is no conspiracy. A little common sense and critical thinking can go a long way. |
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Binance on Twitter: ''#Binance has temporarily suspended withdrawals of $ETH and Ethereum-based tokens in order to address a congestion issue. Rest assured funds are #SAFU and we apologize for any inconvenience caused. Updates to follow.'' What is this bs? Ethereum is nowhere near congested at this time even though fees are high. Seems like a cheap trick of Binance to push BNB and BSC onto their customers. This is why we need DEX's, no central authority who decides when we can withdraw or move funds around. Bad move Binance. Twitter link: https://twitter.com/binance/status/1362746733726416898?s=20 |
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The latest analysis of the on-chain market intelligence startup Glassnode shows: "There are now more than 94,000 #Bitcoin addresses holding at least $1 million in BTC.
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Tesla's recent $1.5 billion investment in Bitcoin was used as a treasury reserve asset, which further legitimized the narrative of inflation hedging and Bitcoin's "store of value" use case. Doing so makes it more likely for other companies to follow suit, because one of the most successful entrepreneurs and innovative companies in the world made such a high-profile commitment to Bitcoin
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Dutch crypto analyst/trader Michaël van de Poppe said earlier today that now that Bitcoin has gone above $50K and is being hyped by mainstream media, traders and investors are happy to buy as much BTC as they can whereas they were no interested last March, when they could have BTC for as little as $5000 (or even less).
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Around one hour before the Bitcoin price broke through the $51,000 level, Ki Young Ju, the CEO of South Korean blockchain analytics startup CryptoQuant, pointed that the “Coinbase Premium Index” had gone positive again, which is a bullish indicator. According to CryptoQuant, the higher the gap between the Coinbase price for Bitcoin (BTC-USD) and the Binance price for Bitcoin (BTC-USDT), the higher the premium, and thereby the stronger the spot buying pressure from Coinbase (which is the exchange most popular with investors in the U.S.).
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