If that is true, then good for you guys over there, it would really be a good thing for the cryptocommunity, having more countries patronizing cryptocurrencies will be bringing more and more people and it is good in the crypto community. Its good to hear more countries are getting in to cryptocurrency, lets continue to spread the word and continue to believe in a brighter future that we are about to achieve.
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In my opinion, when people who dont have any idea about crypto currency sees this chart, the first thing that will come to their mind is surely crypto currency is dead, or we can say that, it is not gonna be a good investment, but when you really take a good look at it, and see that its volatility is unbelievable, then you can us it as a tool, and traders are really making profit out of it.
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In what I can see as a normal person who has no background knowledge about the volatility of our current currencies today, I can see that dollar is one of the strongest currency world wide, I can see most of the currency losing value while dollar just keeps going up, if not, it just maintain its value and very seldom does it go down. So I think dollar is not volatile, Ive seen what volatile looks like and it is nothing like dollar.
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I think this correction is taking too long, and it is actually causing a huge negative impact to the community, now people are starting to doubt and think that cryptocurrency is not gonna do any good to them so they just drop whatever they know about the cryptoworld and it definitely is making a huge impact in the cryptocommunity.
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I think buying cryptocurrencies doesn’t need any signal or time just to say that it is the right time, making profit in trading depends on your own strategy on when and where to trade your holdings. We can say that what is happening around the cryptomarket is important but making profit out of what you have is in your own hands.
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In my opinion, there is a huge possibility that someday, there will come a time where people will come to a conclusion that we should create a currency that is universal and we can use wherever we want, whenever we want. Just like the english language which is being used as our international language, this decision brought a good effect to every one and I believe that having one currency will bring the same effect to us.
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Bitcoin and any other cryptocurrency can sure be used as a money laundering tool, especially if the person holding the cryptocurrency is a money launderer, but the use of cryptocurrency depends on its holder, if you wanna use it as a tool for evil things then its up to you and you alone, but if you dont have that kind of mind set like most of the people around here then its up to you as well.
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What can we do to make cryptocurrency stable?. That is kinda hard to do, cryptocurrency is not yet accepted to most of the countries, I can think of one way to make it stable, but it would be much of work to do, that is to legalize it as a currency by removing the old system and replacing it with the new one. That is to replace our current currencies and place value on cryptocurrency the way we did in our current currencies.
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Bitcoin has been defined as a bubble at each of its growth, just as it was given to the dead every time it lost value. It is clear that since this is something without a trend, and with a low volume of transactions, it has a very high volatility. But I would say that - despite all the attacks - it continues its run towards a stable place in the economy.
Well it is true that bitcoin just suddenly popped like a bubble, we can see that in the past years bitcoin has gained value rapidly then when the people saw that it is mooning, people went crazy to get their hands on bitcoin, then it suddenly popped, so it can be considered as a bubble, but the thing is, that even it has lost lots of its value, it is still remaining at a great price and I think that is something a bubble could not do.
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In my opinion, I don't think bitcoin or any alternate coins are gonna be having a jump of value, or in their term, gonna go mooning. With what happened this year, its just so traumatic specially to those newbies who just started investing and have experienced a great loss, I think its gonna take some time before people forget what happened in the crypto market this year.
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In my opinion this is due to what happened early this year, when most of the big investors in the cryptoworld suddenly pulls back most if not all of their investments out of the market, the cryptoworld just went collapsing and the market is now struggling to get back what it has lost. I think its gonna take some time before the cryptoworld can regain its name and the trust of the investors.
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In my opinion, bitcoin is a tool, a tool that is used as good as cash, if the people are using bitcoin to pay, or send money, then I think it could be called as currency as well. The only thing that would matter here is, if people are going to use bitcoin as money, accept payments in bitcoin, or pay money in bitcoin, well for me, if the people are willing, then we could call it as a currency.
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As I saw and observed the crypto market, how it rise and fall, how people see bitcoin, I guess it is not impossible to be saying what you said, it could even hit an even higher amount, but it may also not. It is also a great effect if the people are gonna be encouraged more and be educated about the whole crypto system, the more the people in the community, the better it is for the whole crypto system.
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So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
I think it only means that, the crypto system is moving and alive, some people are saying that the whole crptosystem is gonna die but because of that happening, we could say that people are still in to cryptocurrency. That is a great news more than a bad one. I believe there are many altcoins that could take bitcoins post any minute, because there are just so many good and promising coins out in the market.
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In my opinion, it is because, of the banks. Banks has been a long time partner of our government, the government looks after the bank and the bank looks after the government, now, cryptocurrency which does not need the use of banks or any other third parties are coming, and the banks are threatened that they will lose their jobs, so the government as well feels pressured by this circumstance, but there are still lots to discuss when it comes to the government and cryptocurrency.
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I dont think what you are saying is true, as technology gets bigger, the work that is awaiting becomes plentier, technology is meant to be controlled by human and as technology widens, along with it is the work force of man, technology is good and very helpful but along with its great help is the maintenance that keeps on growing as well, this is where people comes in.
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For me, I do believe that what you are saying is actually a big issue if the time comes that crypto currency is the currency that is being used world wide and fiat is totally gone, the first thing that is gonna be a great issue is the volatility, if cryptocurrency is gonna remain volatile then people are gonna be having lots of sleepless nights because they might just lose a huge amount of what they have in their wallets and that is a talk that everybody is gonna worry about.
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The crypto system is good and in my opinion, it is much better, but the fiat system, is a different topic, and these two systems are both good system, if people want to eradicate the use of fiat then I think it is gonna affect the crypto system as well, so I think, for the cypto system to work as people want it to be, then we are still gonna be needing the use of the fiat system.
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Yes some are saying that, but did you know that when the prices are low it is good as well, so that you could buy coins again in a much lower price?, so fud is good, let them sell and panic while we buy coins in a much lower price, more gain for us when the prices goes booming.
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In my own experience, we should not generalize things that we dont know, there are lots of successful initial coin offerings out in the market, they are not scam and their goal is as true and legal as what outside the cryptoworld have in mind, yes there are some scammers that uses the name ICO but its partly our fault why we had been scammed.
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