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Like everyone before has said, crypto exchanges are not dead despite the fluctuations happening in the market. That being said, I wonder if because of this, a new crypto exchange network might emerge? Something that might be better than what we have today. What do you think?
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See everyone here is pretty much optimistic about how potential crypto is.
So what if we aren't able to make it work again?
Positive attitude and belief is the main thing. After all, behind every project there are people I agree that it is important for each of us to have a positive attitude and belief, however, are these two traits enough for the crypto market to survive, grow and get back up? Would you say that what we are experiencing as of this moment is some sort of a cryptocurrency market collapse? |
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Friends, I read a bunch of predictions on the market, haters rubbing their hands say that this is the end of Bitcoin and crypto.
More positive people say: use and buy, decline is the best time to buy Bitcoin, as soon as it nevertheless reaches the bottom, it will grow even stronger, some like McAfee say calm down and just relax, and Ilon is going to Mars.
But if you look at the situation as seriously as possible, then how bad is it? What will save the cryptocurrency market? What do you think?
Of course the situation is really bad, we are down what? 70%-80% from previous all-time-high? What will save the market? I guess nothing? This market is on a cycle, we might be at the late bear cycle, meaning is sellers or the bears are exhaustive then sooner or later the market will pump again to start a new cycle. Bitcoin price dropped 80% before, do you think that it will survive if it continues to drop? I do have faith that time will come again that bitcoin price will come back up, and even double, but the question is when and how it will happen? It seems that market down is not enough for people to start using bitcoin. Is it possible this is the furthest bitcoin can go? |
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This is what happened with Ross Ulbricht, right? The FBI seized more than 200K coins from his wallet and later they auctioned all those coins. So my guess is that it is possible for the courts to confiscate the coins.
Who auctioned the coins? The FBI? That is unethical, is it not? He probably worked on those coins but someone just auctioned it off when they took it away from him? Do you think there should be a way we can store coins in a virtual wallet that the court cannot confiscate? |
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I kind of disagree with this. Long before bitcoin and blockchain were invented, people are already using fiat to gamble and bet in casinos. It is just that now people have alternative means to used to gamble and bet in the form of bitcoins. Besides, it is not like those who use these technology are using it to terrorize people and commit other crimes, right?
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If I have a chance to lead my country, I will pass a bill that will ban single use plastics to help the environment. Hopefully, it will help global warming from getting worst. I would also ask someone to invent a technology that will help detect corrupt government officials and take them off the office to rid the government of corrupt officials. This will also be useful for the next generation after I am done leading the country, right?
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It is possible that tech companies may eventually create an AI robot that can emulate some sort of human emotions, however, I am not sure if they will be sensitive enough to communicate the correct emotions with us because there are certain emotions that only 2 humans can understand, such as love, hate and compassion.
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I do, not only are the younger generations more exposed to technological innovation, they are also more accepting to it than the older generations. In addition, the younger generation seeks faster transactions in everything so I believe that if they are introduced to virtual currency and its benefits then they will be on board with it.
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I do not think there is anything we can do about the price of bitcoin going down right now. The best we can do is wait until the price goes back up again. Plus, the price has always been playing around $5000-6000 mark for the past few months, so I do not think there is anything we need to be alarmed of.
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At first I do not believe that bitcoin can go as low as $1000 but and I am still not fully convinced that this will happen, but if we are being realistic about it, there is a chance that the price of bitcoin might collapse to $1000. That being said, I do not think that bitcoin will die even if the price drops that low. It is just far too established for bitcoin to end just because the price falls at $1000. What do you think?
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How to protect against fakes?
Basically do your own research. If some tell that Elon Musk buys Ethereum, see on his public statements about it. Search on twitter (but make sure you didn't find fake accunts with that name), search on blogs, search on reputable news agencies. If somebody tells that certain bank or institution plans certain service, check that bank's pages, social media or even ask their support. ..Something like this. Especially if you want to invest based on certain news, you have spend some time and effort to make sure everything is all right. I agree. It is very important that we do our own research and not believe in anything we see or read on the internet right away. However, these days it is getting a bit harder and harder to determine authentic news from the fake ones. That said, a little self research do not hurt and often works. |
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How I see the volatility of bitcoin is how I see foreign exchanges. Sometimes it is up, other times it is down, and most of the time the price stays around the same price. Of course it is not the same completely, but I think it is a bit like that. In some cases you profit more, but there are times when it is lower than expected. You just have to wait for it to go back up again.
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This is because of its decentralized structure. However, there are some differences between democracy and not being the center of economy. Democracy is all about administration. It must be a matter of choice. I think we can give Bitcoin an example of democracy in economic structure.
I agree, although I think that what he might be saying is that decentralization of bitcoin is an example of democracy. Because it is not regulated by the government or any rulers, the users do not have to answer to them, and can use the currency however they want. Furthermore, the transaction is faster than traditional banking or payment systems because there are no third parties. At least that is how I understand the post. I could be wrong, though. |
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I hope that next year the price can go to the previous ATH or higher but I only expect to see a price around 10-12k by the end of 2019. I don't think the market will go parabolic yet and many will be very afraid to invest at a price near to the previous ATH because of what happened last time the price reached that level.
This is a good prediction, when I look at the forum I see nothing but some of the weirdest predictions with people predicting that bitcoin is going to reach prices that I know are impossible in that time frame, so reaching a price barely above 10000 is completely possible by the end of 2019 because I am the same as you and I do not expect a big recovery by then. Interesting input. I wonder, though, if the price of bitcoin increases and stays within the range of $10-12000 by next year, do you think that it will encourage people to join the crypto world, and would companies be enticed to start accepting bitcoins as well? |
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crypto brings blockchain technology that many companies want to test the sophistication of the blockchain. The blockchain has never been down because the server is everywhere. That caused a lot of companies to use it. so the crypto future is very good
I agree, however, I do not think that all cryptocurrency will survive in the future, simply because I think that some coins are created for a specific project so some may be gone in ten years, while new ones will be created. That said, I hope that more people are already using cryptocurrency by then, perhaps co-existing with fiat, depending on how financial economy goes. |
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Tbh, I don't see bitcoin being the greater of all the evils contributing to climate change. There are still factories burning a lot of fossil fuels and automotive using the same type of fuel for the past decades or so. All of these carbon emissions are already there together with the talks about climate change way before bitcoin hit the radar of so-called 'concerned' citizens. If I were to ask, there's really not much we can do about the power consumption of the miners and we're not the only industry to use such levels of power consumption in the world.
Switching to PoS is not a bright move, and if we really want to save this world, look for better and cleaner alternative energy solutions and ditch the fossil fuels.
I have to second this. Bitcoin mining takes up a lot of power consumption, however, I doubt it is contributing greatly in climate change. For one, there are not much bitcoin miners compared to factories burning fossil fuels that have been in operation for far longer than bitcoin miners. To be honest, I do not understand why people keep associating bitcoin mining with climate change getting worse. If we look closely into the effects of climate change, there are much more things we can put our blame on. Mining bitcoin should not be on top of the list. |
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[bif i see lately there are lots of altcoins popping up, especially in the digital world and whether for the next few years the function of real money itself will be eroded by the presence of virtual payment equipment ...? I had time to think whether in the next few years we would be making virtual money payments ...?[/b]
Although the cryptocurrency will continue to evolve, and therefore partly fiat will be squeezed out of circulation, it still does not threaten the usual currency. Its fate depends on the government, but it will never make a decision on the abolition of national money and on switching to calculations in cryptocurrency. Such a decision would be detrimental to the economy of any state, which means that as long as the state exists, national money will continue to exist as well. Cryptocurrency can go in the state only simultaneously with the national money of these states and it cannot be otherwise. I agree on this. Plus, if the government eventually decides to abolish the real money, then that means that they have finally acknowledged the presence of bitcoin, which right now seems unlikely. At least not in the global sense. Some countries will also have a hard time adjusting to bitcoin, especially those who live in a developing or underdeveloped countries. |
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And while you are afraid of buying little by little, these punks are taking advantage of the low prices for themselves. If a projected 75% from $9000 ranges was really a possibility, it could have happened earlier this year, right after the ATH blew off since everyone wanted to get out of the sinking ship. Also, we have tested several times the lower ebbs of $5000 but to no avail, only to end up stopping @ $5700 before the skid stopped and the buy backs went through. Most 'experts' think that the lowest point is $3000-$4000 in this cycle, but it's been months now and nothing is really happening.
I'll second this thought process while people are afraid of burning their hands, these guys are accumulating for the long run as they're anticipating a bull run. If you'll see right from the start of the year bitcoins never went down past 5k, and I don't see it ever going below that level, in fact now it's formed a new resistance between 6k to 6.3k which I feel if it maintains it can touch high levels soon. I will third this. I think that this claim is like what people say that bitcoin price may go up to $20,000 next year. It is just too big a jump to say this now. Anyway, if the price of bitcoin drops to $2000 then people panic and start selling their coins, but we never know. |
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Sorry if you think I am not answering the topic you want to discuss directly, but I want to share a story I recently read over at reddit, which is about a bitcoin user who used his profit for the month of October to work on his truck. Basically, he upgraded the dashboard of his truck, whilst still looking old and clunky on the outside. I guess the point of my sharing this is that I am not sure it matters if a person comes from the developing or developed country. If you are smart and knows how to handle your profits, you will enjoy the benefits of bitcoin.
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I won't place too high of an expectation for 2019, I suspect it will be a better year but still not a great year, something akin to 2015. Best case scenario I think we might see the price back at the previous ATH, more feasibly I expect we might see the price in the $10,000 to $14,000 region. That would still be a very positive year.
I guess you are right. It would be inappropriate to assume a price range when we have no control over the market. But I agree, if it reaches between $10,000-$14,000 by 2019 then it will definitely be a good news to the market. I am not sure if it will reach 20k by then, but that price range is good, too. |
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