Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.
My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks
Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
Shutting down the domain is possible but completely shutting down Bitcoin sounds impossible. There are already many things that Bitcoin can do even without this forum but the forum is also one thing that helps people promote and learn about Bitcoin. People who supports Bitcoin will find ways on how to support it even when faced with lies that will really damage Bitcoin's reputation but as far as we can see, nothing can shutdown Bitcoin. It will not be able to stop bitcoin even though the domain is shutdown, because many assets are already held by investors so that the development of bitcoin is also based on the number of transactions that have occurred. Moreover, until now bitcoin continues to grow and many countries have started to adopt bitcoin as an alternative payment transaction besides using conventional transactions, of course this is a development that will continue to occur in the future. |
|
|
|
In my country, cryptocurrency is totally illegal. If anyone transacts cryptocurrency he may go to jail. So how do we use cryptocurrency?
We don't use banks. We do P2P trade. Alternatively we use Perfect Money for buying cryptocurrency. I think it might help you.
Yes you are right currently in many developing countries exchanging crypto and bitcoin through banks is very difficult so most of members are using alternative like perfect money, payeer and few have payoneer as these are doing good job until now hopefully we will able to have some soft policies in near future about related to crypto and bitcoin. There are many alternative ways that can be used, for example, you can use an exchange, so that we can exchange it from crypto to local finance. And as we know that paypal itself is currently adopting bitcoin as their means of payment, so we can exchange it via paypal and convert it to USD for example. |
|
|
|
I thought that we have decoupled with stock market already? The question is why $20k is a major resistance? It is because this is a big psychological barrier? It's obvious that at this price, there is more selling, it happen last time in 2017. But the main difference is that we have institutions and company investing right now.
I don't think miners are selling though, not a good business decision at this point.
I think it is normal when a miner will sell a number of his bitcoins, of course, because the expenses from the miner's load are quite large. As a form of balance the miners will always sell some of their assets. When we discuss the 20k resistance, it is true that up to now the strong resistance is at the price of 20k and it has not been broken until now, coupled with the end of this year it has become a market habit that the movement tends to be bearish because most investors have the desire to take a vacation and it is not impossible will make a sale of a portion of their assets. |
|
|
|
I think that Bitcoin will be regulated on most of the countries eventually. I also think that it is important for Bitcoin's adoption process too. But there is no such thing as Bitcoin can be turned to a centralized cryptocurrency. Being decentralized is Bitcoin's nature and it will always be like that.
As we know that some countries have adopted bitcoin as an alternative payment transaction apart from using conventional transactions, indeed in the majority of countries they have not adopted bitcoin, but I think time will tell. Because technology cannot go backward, so it is necessary to continue to develop it, especially in terms of finance, so digital finance such as bitcoin will certainly be needed in the future. |
|
|
|
The history of bitcoin development is interesting, but I don't think we have gone far enough to draw any conclusions yet.
Bitcoin will continue to evolve as technology progresses, because there is still much that needs to be done if bitcoin is to continue to grow. However, I have faith that everyone and the existing rules in the government will be able to provide opportunities to accept bitcoin as an alternative digital payment transaction, because it will be more efficient and easier for everyone to reach. |
|
|
|
Gold is another store of value, but not that unstable. It reached 2000$ recently and was above 1000$ for many years. Those who invested in gold back in 1900 would have made a great choice since it costed only 20$ back then if I'm not wrong. (Although dollar was way more strong than now)
Bitcoin can lose 500$ within one night. Gold can't. Why that?
If you go back 50 years gold price always stable. It price Don't changes huge. If you go back 5 years bitcoin price huge increase. Yes it price can be huge down but not it possible 500$ cause today world economy effected in bitcoin price. Today if you buy gold after years you get some profite but bitcoin can give you huge profits. This instability is due to the amount of supply held by several large investors, so that the movement of bitcoin can rise very high and fall rapidly. Of course this is different from gold, where the value is taken from the price of mining oz, so that the movement is not too far away. |
|
|
|
Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.
I don't think that was the initial principle of bitcoin, because the principle itself is an alternative payment transaction besides using conventional payment transaction methods that we have been running so far. As long as this is still not fulfilled in every country, bitcoin will automatically develop until it can be recognized and used in every transaction that is carried out around the world. |
|
|
|
The main reason why people do not know about Bitcoin is that they have not received the simple and clear information about this technology. Since Bitcoin is decentralized, governments have not been interested in aligning itself with Bitcoin. But it will be a matter of time for more people to know about Bitcoin from 2021. Let's see what technologies have been working on and what products and applications they will offer us after the noise that Bitcoin made in 2020.
It seems that with this pandemic many people have started to find out what bitcoin is, I also feel this in my own area, because many people are starting to be curious about bitcoin. Of course this is a positive value in itself for how bitcoin continues to develop, considering everything I think will also be completely digital, digital payments will be very necessary in the future. |
|
|
|
this is good news, more and more merchants are accepting payments via Bitcoin...
but it is very unfortunate that in my country this cannot be done because my country's finance minister prohibits all types of payments in cryptocurrency, our country government sees Bitcoin as just an 'asset', if there is a trader who accepts payments in Bitcoin then that person's business will be closed.
Everything just takes time, because the legality of crypto regulations is still minimal, so it takes time to actually be able to give every country an opportunity that bitcoin is very potential as an alternative payment transaction. |
|
|
|
Yes, bitcoin transaction fees will not remain like this forever. It will definitely change some day like Ethereum which transaction fees is too high. Bitcoin fees will go high some day but it will not be too high like other cryptocurrencies.
Many investors are enjoying with the transaction fees that is low right now which many new users are still have interest on bitcoin no matter how the future will go to look like but it will not look like Ethereum which it transaction fees is too high.
Actually, the matter of fees is relative, depending on our wishes and the demand for global fees. However, if you say how expensive the fee is, until now the movement of bitcoin fees is still at least 0.0002 btc but it will look expensive if the price of bitcoin continues to rise, of course the transaction will also increase market demand, so this is where the fee request process will continue going on, I think this is normal. |
|
|
|
Here is my opinion on the matter.
1. Governments are there to see the whole ecosystem is functioning. So, I don't think the government could such a step because there are a lot of roles the banks provide in society.
2. There is already an effective system in place so this system can be improvised upon.
3. It doesn't matter; anyone involved in corruption makes a wrong step which can arouse suspicion and then it can be dealt with.
Currently in several countries, the government has started to try to give legality regarding this bitcoin, it is impossible to eliminate the existing bank system and it is very unlikely to be removed. However, the policy to change a little system from conventional to digital can happen without having to eliminate bank payments, because all will continue to use banks as a legal means of finance in each country. |
|
|
|
Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.
I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
I think it is still a mystery, because as we all know that the movement of bitcoin is volatile. So while there is supply and demand everything is still fine. Especially for fiat currencies when the price of bitcoin is too high there will always be a low value that will happen and it will repeat itself, because when the price is high and people cannot reach it, the owner of bitcoin will also lower the price so that it can be bought, I think this is logical . |
|
|
|
Unfortunately this only applies in the US. Most paypal users who buy bitcoin at the beginning of its release will spend it because bitcoin is currently experiencing an increase, and of course users will get a greater quantity of goods and services.
Indeed, at this time it can still be used in the US, hopefully in the future everyone can use it without exception. To a lesser extent paypal does have an impact on bitcoin prices which had jumped sharply when paypal collaborated with bitcoin. Of course this is positive news and have heard that Amazon also wants to use bitcoin, is it true? |
|
|
|
Nice jump for crypto, we know if crypto can be used for anything including purchases at restaurants or whatever. but not many countries have adopted this. so I think hopefully in the future there will be more and more outlets that can use bitcoin for transactions.
All countries still have to do with regulations, so this is what is a bit of a problem in some countries why bitcoin cannot be fully adopted. However, this could happen in the future if bitcoin is growing because the concept used is more principled towards alternative payments besides using conventional payments. |
|
|
|
Bitcoins price is stabilizing in $18.5k to $19k mark this first week of December, maybe bitcoin is just waiting for momentum to try and break again the $20k mark and if not break I think bitcoin can go dip again at $16k-$17k ish mark. I hope price correction will come after breaking the ATH and not before the next attempt to break the ATH.
I think a correction will be coming soon, why is that? Because now is the end of the year and ahead of Christmas and New Year, investors may prefer to take the time to vacation, of course this will also be related to sales that may occur in the near future. Coupled with the presence of ATH which makes a double top pattern, it is possible that $ 19900 can be a strong resistance until the end of the year, of course this is a positive value before the occurrence of a new ATH later, hopefully. |
|
|
|
Bitcoin is always a great investment, very interesting and the leading coin of crypto, in short, people rely on bitcoin more than any other coin, so if you only plan to invest in trusted money, it's safer than investing in a new one.
Bitcoin isn't always a great investment due to the volatility, you can ask them who invested in December 2017 and have to withstand the capital loss, many people have cut loss and some choose to hold it until these days, probably still waiting for the next ath to cover the loss for 3 years. Nonetheless, for investors who can wait for the long term, Bitcoin indeed is a good investment. If we have the principle of investing in bitcoin, of course it must be thought carefully, because in the investment concept we do not know about the risks that can occur. Profit potential will always be a major factor in investing, but it is different if we have a trading principle, where in trading itself there is a concept of value that always fluctuates (fluctuates) of course with this awareness we can know when to enter the market and when to exit. |
|
|
|
The funniest thing that people still believe that this a significant good news. Well, at least Papyal has spread the name of bitcoin around its network in just a few weeks
However, i dont like how people consider this as a element for the current uptrend. PayPal can affect bitcoin in a negative way which makes the price of bitcoin decreases. And in a more dramatic way, PayPal can easily erases the main factors of bitcoin out of new clients' minds
It looks like it could happen, considering that paypal has more or less had an impact on the movement of bitcoin lately. Yes, if we look at the positive side, Paypal can indeed introduce bitcoin to new clients so that there are many lessons that can be taken, but the recent drama that has also had a negative impact on bitcoin considering the problems that have occurred paypal with bitcoin at this time. |
|
|
|
What do you think guys?
I am a little bit afraid for those who bought btc just recently where market recorded 19K$ per btc. Now, the current market drops and if they get emotional and sell it then it is already a loss for them. If it happen that they can hold it then I guess there is still a chance that they could earn especially if ATH will going to break more than 20K. But btc market is very unpredictable so good luck to all!
Anyway, I had a question will ATH happening this year? or in the year 2021?
What do you think?
We are not sure about that just like what you said it's really unpredictable market I was really expecting it would continuously go up and exceed $19.5k but not it's around $17.2k I wish I wasn't that greedy and sell a portion of my investment. It seems that until now 20k is still a strong resistance, it cannot be prevented, but all the things that happen to the movement of bitcoin I don't think can really be real, all just predictions that can be wrong. As we know at the beginning of last month where the top analysts predict the price movement of bitcoin will weaken and can fall between $ 8k to $ 3k, but the market says differently, and now the price of bitcoin has flown away, of course this is a lesson in itself that it can't be true -really examined how the movement of bitcoin will occur in the year 2021. |
|
|
|
We can't expect that all the people will stop calling Bitcoin scam. There will always be people like this. I think one of the reasons could be its being too volatile like other cryptocurrencies. Many people are being hesitant when investing in Bitcoin or other cryptos just because of that. There are also people who call it Bitcoin scam for not believing in the project. But Bitcoin has been in the market for 11 years and it is the number one cryptocurrency.
There will always be positive and negative thoughts in all fields including bitcoin, it has become a natural thing, think of it as someone who wants bitcoin to weaken. This is the reality, with the thought that bitcoin price movements become more volatile, sometimes negative and sometimes also positive. All did arrange it that way. But from all that, we can't even deny that bitcoin has a huge impact on a government, especially with this pandemic every day many people learn what bitcoin is, I think it is inevitable that bitcoin has a big influence in the world. |
|
|
|
|
Show Posts
