Your Title and body of the post are contradicting. All in All The CoronaVirus outbreak has a part to play in the recent Massive Bitcoin Price drop. If you try denying that, then you totally don't know the economical aspects of bitcoin and stock markets.
Well in terms of investment both are kinda similar so it is not that surprising that Bitcoin will go down along the fall of stock market. We shouldn't panic though as it is just a normal thing to happen and pretty much after this issue, we're all gonna see the green in the charts pretty much soon, but right now we should resist and just hodl. If people have the buying power to buy BTC right now, it would be great for them after this crash recovered. |
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I was not really expecting that hard fall from the price, I expected the price to somehow stabilize at $8K range and that literally shaken the world of most of us. The price is indeed recovering now, the last time I checked it, it was about $6400 then now it is about $6K only, good for me I did not bough yesterday though. I think there will be no pump at all even after the halving if we still have a large number cases of corona virus and we still haven't found the cure of it. It sucks.
Well due to the virus, we "kinda" expect it to happen to fall just like what is happening to the stock market right now even though both aren't related to one another in terms on how it is traded but they both resemble an income for the investors, and due to that they're kinda panicking out of the market followed by the other investors as well. Right now, we seem to stabilize around 6k and I would prefer it that way for now. 8k range you mentioned might need to wait for now, and I expect or just think to happen when almost 60% of infected of the virus recovered already. |
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I have many lols here.
1. TikTok. All due respect but yeah that's the source for jokes and dangerous memes, not legitimate doxing.
2. Zynga. Yes, a guy behind Zynga has had other names. Satoshi is a super common Japanese name by the way.
3. Wikipedia admin approved post. Generally means a good thing but I have personal experience with that and it by no means lends veracity to the claim, just veracity of the material supporting the claim.
I kinda find it funny that a serious post would be made in TikTok, like here in my country TikTok isn't even taken seriously that much. The BGM in the video was kinda annoying tbh. I don't know what's the link between Eric Shiermeyer and Satoshi, just because Eric is an entrepreneur. Basically it is just a troll video that resembles dank memes that I can sometimes see in Facebook. |
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It's not surprising for these scammers actually. Like going out of your home just to donate isn't a good idea anymore and they would expect you to donate from the internet using any other channels or means of payment, it could be credit card/debit card and yes, cryptocurrency. I think it would be nice for a compilation of those sites that aim for us crypto hodlers here in the forum and it would be just locked after this pandemic issue.  |
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Another guy who went crazy after seeing market down. I think this is the 3rd time, heard a complained from users here about the tragic downfall. Yes it is frustrating, and many got rekt in the process, but this isnt the end. If crypto will end, then we wouldnt see it pump and break any support on market trading. This is normal for crypto as this is a decentralized business wherein government cant lay a finger on. A temporary crisis isnt enough to kill the market that bad. But even we go down than this, many investors will just catch all the supplies that everyone dumping. Its all about mindset and this space is really a headache but relax yourself too much stress cant also helo in the matter.
I even read some thread about a hodler being depressed. I hope that dude is okay now, like the volatility also of the market even in normal circumstances made some people panic even if the situation isn't the same as this situation we're currently experiencing. I suggest that if people won't think of buying for now, then they should somehow leave their wallets for now and stop trading.This situation might be worse for those who trade full-time in crypto, and I hope the market recovers now slowly. |
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How many successful projects with such reward paid hunters since 2018 that you know?
Only a couple really, bounties and airdrops has such a bad reputation since 2017~2018-~2019 because of all these scams that are going on. I'm personally a part of one where the project exits out, together with all the bounty rewards when their campaign failed to get funding. If you're skilled, there are bug bounties that has up to $50,000 in prize, you just have to catch errors and that's a pay for you. These things are better IMO since these companies already has established ground, compared to startups who has no guarantees at all. It's kinda crazy to think to earn that sum in airdrops and bounties, unless one is taking a wholesome work in a bounty like I mean every single work at a certain bounty which is high of a risk of course because your work could turn out to be just only a part of your portfolio without any return due to ending up into a scam project. High Risk = High Reward applies most of the time at that. |
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Stock market has crashed, and good thing it wasn't that too bad especially for BTC like it went downwards to 4k last year. We're also heading to a financial problems, regardless if it is an individual or even the whole country itself.
Jobs are being suspended except for those frontliners who are now taking risk.
I don't think that people could think of buying cryptos for now but when things get tighter at this situation, we might off to using cryptos to buy our needs instead.
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Why not?
I already sold before the storm happened, and I can't say that I am lucky but that's just how I am before the uncertain happens anyway. It is just a matter of pre-reaction and preparedness.
Back before BTC was still around 9k, I already sold some. Whatever that is already left is still sitting in my wallet, just like always.
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this is not extraordinary...
every disaster happens, there will be fake donations like this, if you are really a generous person, it would be nice if you donated to an official foundation that already has a good name and reputation, love the bitcoins you have and don't just donate carelessly.
Careful also regardless on what sites. I've seen some investigation of BTC donation happening here right now. I wouldn't just drop a single coin in every site that even if it is like a forum, just like here where scams aren't moderated. Caveat emptor as we know it. I've seen some sites that are just merely copying and pasting layouts and that's quite common to encounter actually. |
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I was just curious to know whether the Corona outbreak can help bring people's attention towards the crypto market? Where many countries have banned short selling too in ever falling stock market along with the oil and gold prices tanking, I am sure many would be looking for an alternative. Regarding BTC which has recently touched the bottom (atleast according to technicals) after a 60%+ fall, I guess this is the best time to bring traditional investors toward btc. People have free time to read and understand cryptos too as they are quarantined  . Nope,this is definitely NOT the best time to bring "traditional" investors to BTC.I don't know what you mean by the term "traditional"?Do you mean banks,hedge funds and insurance companies?Such institutional investors would stay away from Bitcoin in times of crisis.Only the real speculative investors who are going for the highest risk/profit ratio would remain as stable Bitcoin supporters. And no,I don't believe that Bitcoin had touched the bottom at 5K USD.There will be another bottom at 4K next month. I think that's what he is trying to point at. Everything that would involve throwing their money at is surely risky at this moment now. Maybe traditional investors would just quarantine their money for now, and wait til this "storm" is over. I can't even manage to buy some BTC without going out of my house because I don't really use credit cards to buy one so I am kinda locked out right now. So even some currently hodling hodlers might not consider investing right now like me ,but I'll surely wait as I can save my savings up from my earnings online then I'll invest it all after this pandemic. |
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For Bitcoin hodlers, remember what also happened last year when we had it worse. This is just one of those days again, and it might be a really bad timing to go with the coronavirus right now but we should be recovering any day.
This isn't something to panic at.
Buying crypto right now would somehow be a good of an option since we're kinda at low right now but I think people are more focused into buying the needs for this pandemic.
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Regardless of any country, Bitcoin as to its existence can't be banned anyway. Sure that it can't be used as a legal tender for payment as well as being sold or traded or even cashed out to government institution but to those people who hodls it still dominates the power to store into their wallet.
People would use VPN to still access sites to continue trading BTC or they could still trade BTC personally.
I think the freedom brought by Bitcoin is still being underestimated by some people.
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Many of you advise me to buy Ethereum. But the value of this coin on which the price growth depends is the appearance of successful ICO's on its platform. If they become popular again, then Ethereum will increase in price, otherwise everything will depend only on speculators.
And in relation to Bitcoin, Ethereum is still very weak.
Well can't say that there would be one coin that will have the highest recovery overall, but if you wouldn't want Ethereum then I could just advise you to get BNB instead. ETH is by far the nearest and only coin I can think of hodling for long-term as some other coins below it just gets red quite often. |
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people just panicked and went crazy. if anything it shows the effects of unreasonable fear on the bitcoin price. and it wasn't directly linked to coronavirus but it was liked to everything else being dumped that caused fear in people expecting the same dump in bitcoin so they tried to act faster and caused the crash becasue of that!
as for Store of Value, if you mean bitcoin is a currency and like any other currency such as fiat, it is a store of value too. then i agree.
I know right, although I am kinda thinking that coronavirus kinda affected some hodlers maybe not all of them. Maybe there were whales that panicked ot and caused them to sell a bunch causing this massive dumping that we're currently experiencing. Kinda sad that they brought their emotions to the table, but meh there's nothing we could do about it. Bitcoin does both. Investment and utility but I believe that more people are into its own value. |
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Bitcoin wasn't created to be a source of income, and its ecosystem isn't a good source of income either. There's simply not much opportunities and a lot of scams around. So it's not a good idea to introduce it as a solution to financial problems, especially with how volatile the market is. What you should do instead is teach about core values of Bitcoin - personal freedom, decentralization, controlling your own money.
You are right that a lot of people are staying at homes right now and might be bored, so learning about Bitcoin could be interesting to them, just don't tell them that it can somehow replace their (lost) jobs.
It's not a solution to unemployment, and dang I remember a lot of threads of that questions popping in BC Discussion board long time ago. Bitcoin isn't designed to solve that problem. It is entirely problem of the country itself, and not the currency. It is still good idea to teach about the technical sides about Bitcoin though. We got Lightning Network, Blockchain and all that good stuffs that miners know, but it is quite difficult to do it right now due to the pandemic. |
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Generally speaking, I think research can help but not totally because some scam project can hide things you will never see.
I just believe in some red lights like unsecured website, mistakes here and there on the thread or white paper, alsovif my mind doesn't approve of it.
Surface research like looking only at the ratings of a project in a certain site won't really tell you the truth behind a legitimate project. I had stumbled upon sites before like ICOBench wherein you can see the ICOs current status as well as any relevant information pertaining the project itself. Some project ratings felt a bit off and at that moment I think that the ratings could be a paid review, like those shady activities are quite common, right? This led me to not trust ratings anymore as well as those passing KYC test at some sites. |
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We'll definitely get back to greens. This is just one of those days that we already encountered before, but for everyone's awareness especially those who just recently bought BTC, we already experienced this red market last year. If you would take time to research, we had it also worse below 4k, but look into how we managed to get back up to 10k-11k slowly.
It is a slow recover, but I'll tell ya that the long-term investment myth will tell its own story to you soon.
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I am starting to think the majority of usage though just like you said. Thing is it is quite too late for it to happen right now, because some people would need to go outside to buy crypto, as some don't even have the access to credit cards. It might encourage some users, but those users like me if I just recently know about Bitcoin wouldn't be able to buy through credit cards.
Good thing I am already aboard the ship before this happened.
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I hope it gets legalized in your country though, but through that way it might be a difficult thing to grant though. Having someone known like the TV show host you mentioned could help but in the end, it is still up to the banks and goverment.
It is nothing different to people here in my country rallying, and not all of their claims get granted though.
If things get tight, you might just end up having personal transaction or using VPN but that might end up being worse in your end.
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Actually it is kinda hard to see better projects these days,imo.
This bearish market kinda hides every possibility of the great projects, and we might expect this to continue for more weeks or even months if we don't recover. This is only when people looks into the price of the coin itself rather than the "content" of the project.
If people are kinda having the anxiety of investing right now, it would be better to wait for the return of the bulls. Bitcoin is still kinda down to 5k, just yet.
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