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I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.
I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.
What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.
First thing that will create barrier in realizing this dream is lack of government support because of different views of many people about the cryptocurrency, so if we don't get government support fully, it may become very impossible for us to have implementation which will assist everyone who are interested to use cryptocurrency to use it freely. One more thing that I think will really not help the cryptocurrency usage worldwide to be achieved is because of the knowledge of cryptocurrency usage that will be impossible for some people to have no matter how much you try and a result of lack of literacy. You may have been living in an advanced country where you have virtually everyone there being able to read, write and speak English, but we have lots of illiterate in my country that it will take 10 decades for them to understand and be able to use cryptocurrency. |
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Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.
I think that we should know every system has it negative side too and weakness I may say, and this is what those people that are bad have seen and taking advantage of to tarnish the image of cryptocurrency which we also contributed to it too. The way we contributed to it was that we gave them so much open hand to operate by not cross checking every project that they came up with in form of scam just because we want to make quick money, and this is what we have to deal with now. Instead if the interest of people in cryptocurrency, they are just losing interest the more because of the fear of unknown and uncertainties about the future of cryptocurrency. I wish that we could just have one of these main countries to come up with regulations as this will help a whole lot. |
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I understand that it may not be legally accepted in your country which i think virtually all countries have not openly declared support for the use of cryptocurrency, but that is not to say they will not attend to any case that has to do with fraudulent acts, pour countries are not as useless and wicked as that, so since they said you should report to a local authority, I think that you should do that so that they can hasten up the process, but make sure that such local authority if one that would even understand what cryptocurrency is all about, except that you want to take time to fully explain it to them to understand.
Every exchange has their policy, and you cannot compare some of those highly reputable standard exchanges to hitbtc, they will not help you in anyway except you do exactly what they ask of you if you want your money recovered.
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Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.
The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’Source link hereLook guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale: Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath. Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath. If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance! The only thing we just have to do right now is to be very wise at this period and not allow all these dumping and playing of the whales to affect us or push us into panic selling because this is exactly what they want, as they have seen enough profit on the $8700, so they will want to look for the next opportunity to enter the market again and the first thing they will do is to use all these their tactics into crashing the market so that they can start accumulating again, and I will not be so much surprise right now, many of them are beginning to accumulate again at this cheap price because I really don’t see the marektcap cap of bitcoin dropping below its current bleeding lines, so any moment from now, we could actually see some increase that is even higher than the initial. |
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Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
Very strong global awareness that will focus more on the real use of cryptocurrency is really needed for countries that are against cryptocurrency to be inspired, and it would have been better if the awareness is coming from the top countries that they are looking up to for standard and better way of government, but unfortunately, not even many of those countries too are having that much faith in cryptocurrency because of its volatility and secondly because of the ways and manners at which some of these dark web agents are using it. So before we can really see them accept cryptocurrency, they will first of all see the possibility of controlling and curtailing those activities which I think china is already doing, but will really take a very slow process. |
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The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.
Don’t you think that china are even the biggest whales that we have in this cryptocurrency sphere, because it was just barely a month that their president came up with this same block chain speech/ cryptocurrency that looks like it favored bitcoin through the declaration of support for it and made the price of bitcoin to spike to $9000, now they are coming up with this story again, which they know would crash the market so they can get the opportunity to buy and accumulate at a cheaper rate again. I am expecting them to come up with another favorable speech again that will make people to start investing out of fomo that would make the price to spike again. Anyway, they have some good and valid point here which I don't think is enough to have crashed the value of bitcoin this much. |
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Honestly, people can be so annoying that when they see any little challenge with bitcoin going down in value, they start creating fud and those people who will speak well of bitcoin when its increasing in price and giving them lots of profits will begin to speak hill of bitcoin.
Just few days ago that bitcoin fell to $6000, many of these same people started creating fud about bitcoin that it is dyeing and making it look like people have lost interest and rate of adoption slowing down which unknowing to them, the rate of adoption is even growing more now, and the mistake they do make is to be blind to the fact that bitcoin adoption does not completely depend on the growth of its value, so it will be a very wrong thing for us to be judging adoption buy cryptocurrency value alone.
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for now, centralization is still dominating, and we should really have ourself blamed for that and not centralized exchanges because the power to choose between centralization and decentralization lies with us, so if anything goes wrongs with the way that we handle things on cryptocurrency transactions, I think that we should all be blamed for it, I mean those of us who are fully loving on centralization.
The main intention of the one that created cryptocurrency was to create a decentralized platform which made him to create bitcoin, but we user are the ones not utilizing the full power of the decentralized nature of bitcoin, and we started from the moment we were all embracing all these centralized exchanges rather than making use if decentralized exchanges.
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Aren't you part of the people that are working against bitcoin with all your unnecessary fud? So simply because bitcoin is going down this period means that bitcoin is slowly dyeing? I think that you have a very wrong idea about that because the funny thing is that chat analysis already shows long time that bitcoin would be dropping to $6000 which I was even already prepared for and it is at that point I even intend buying bitcoin, because that is when this same bitcoin you think is bleeding to death will start rising, and watch it that when bitcoin fud like this starts going round the whole social media is when bitcoin prepares to moon.
So I would not be surprised if from now on, I even start seeing bitcoin rising again. If you say that we are mentally hill, we agree, let us carry our cross which I don’t think that is any of your business.
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