What do you guys think will happen to the price of bitcoin (and altcoins for that matter) during a recession? Often when stocks went down a little crypto market would surge. But how will bitcoin behave in a full on world economic recession? Because history tells us that a recession is coming, we haven't had one in ten years, it might be 2018,2019, or even 2020 but it's coming. Do you think the traditional market and the cryptocurrency market are negatively or positively correlated? (Or are they correlated at all for that matter?)
Here is what will happen during recession to bitcoin prices: 1) Big companies will also have lack of funds as they will less number of prospects or work available. As a result, they will be forced to sell their assets to pay for the running expenses. If they have bitcoin funds, they will have to sell those. 2) A lot of people will loose jobs. Since these people will have no source of monthly income to pay for rent and food, they will have use the savings. Once bank deposits are spent, they will have to sell crypto holdings. All this will increase the supply and reduce the demand of bitcoins. |
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They can't rise always, and actually the time to invest in coins is that when everyone say it is over. Honestly it is not worse than that bitcoin fall to $6K but people are more sad now  Hard to say this but practically the people who have invested large amount of money already at higher price levels will get scared. They will be in two minds and some may feel forced to sell in loss to avoid any more damage. Such people may completely stop investing in bitcoins due to the first bitter experience. Regarding this particular price decline, it is really unexpected as there is no major negative news about bitcoins. |
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Some countries may think they can make government-centered bitcoins, but the fact is bitcoin is decentralized so they can not control it completely.
but on the other hand bitcoin transactions are not entirely anonymous, there is still a bit of a gap for transactions and I think the government will not be so careless, because the current technological developments are increasing, it is not impossible to track transactions and trace them further.
Here is opinion regarding this: 1) Governments can create their own coins which are completely controlled and monitored by them. But people will not show interest in such projects because better alternatives are already there. 2) Regarding bitcoin investments being non traceable, you have to move funds from bank to buy. After selling also, funds come to the bank, how will you hide them ? |
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No one can stop anyone from dumping their coins. What I don't understand is why the hell is he dumping it at this rate? What causes him to sell that amount as this time? Whales usually are not affected by negative news, actually they love when the price goes down because they can get it cheap and they can buy in volumes. I guess this is one of the reasons why the price immediately broke the $10K resistance and I'm sure it has already cause panic around the ecosystem. So expect the price to go even further in the next coming days. But based on bitcoin previous records, this kind of dip is temporary and what follows is a good price increase or probably another bull run. Let's see how it goes. Another critical and nail biting week for all of us.
So this was the news I was searching for. I saw prices declining by 8% for last 24 hours and saw no reason for this happening. Bitcoin being sold in such a huge quantity is the only reason behind it. Regarding him selling at these prices levels, there can be a number of reasons behind it. He might be one of the early investors and had invested in the range of $100-$300. Otherwise, he might be getting good returns with alt coins and thus is moving more funds there. |
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Bitcoin's price will never be stabilize as it is running on a decentralized system where governance does not exist, no regulation and laws applied. I think people and investors are just playing it safe because the spike from last year is expected to have a downfall afterwards which happened earlier this year. Don't worry the price will rise i think in the 2nd quarter of the year.
I agree to this. Lack of regulation is the only cause why big investors are able to manipulate the prices on large scale. Bitcoin price rising from $10000 to $20000 and then dropping back to $7000 was because of this price manipulation only. It would be good if we have some sort of regulation so as to stabilize the prices. It will also make it hard to get bug returns in short time. |
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
Different governments have different reasons for banning bitcoins and it is not only due to tax collection: 1) In my country, government has not made bitcoins legal yet because they consider it as a spam. There had been a lot of similar scams here like chit fund companies and online ponzi schemes that ran away with money of thousands of investors. They do not want to get this repeated. 2) Some of the governments are worried that it might replace their current currency. |
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Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
So the government did not gave any chance to the investors to take out the money before freezing the accounts of that exchange ? If the exchange account was freeze because of fraud or some suspicious behavior, then it will take a lot of time. This matter will go in court. You may try appealing to government to speed up this process giving your personal financial situation. |
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Nice poll! 2. For a Legendary member, receiving Merit should have a restriction or (may be just) don't apply Merit for them
I believe Theymos has ruled out preventing Legendary members from receiving merits. So my suggestion is to make legendaries receive 1 sMerit for every merit. It may allow some abuse of the system but it would put their accounts on the line and I don't think that would be a wise move of a Legendary member. Anyway it's not actually a "hole" in the system. Lets say 10% of merits are gone to Legendary members every month. Increase merit generation by sources by 10%, problem solved! So it doesn't actually need a specific solution. This special privilege is not required at all. Suppose there is a member here with two legendary accounts. He can generate as many merit points he wants if the suggestion you said was implemented. Most of the senior members are responsible enough but we may have sale of accounts happening frequently. Sometimes the accounts also get hacked and if a scammer has access to such accounts, he will abuse this privilege. |
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It is not true that only the members who want to earn money will only be here. There are a lot of people here for participating in discussions.
I was one of the members who joined here to know about the local exchanges in my country. That section is not much active here but there is lot of information here to make use of. I am getting used to this forum and learning new things. I am yet to explore sections like alt coin discussion completely. Later, I came to know about signature campaigns and then applied for one. I think I am quite late to join this awesome place. |
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I think this merit system has its pros and cons. First, not all merit-worthy posts are noticed and given due credit. Second, non-meritworthy posts are given merit (can be given merit) just because they know the poster or for some other reason.
Based on my personal experience: 1) I have got more merits than I deserved in my opinion. Initially I struggled to get merits but then I started observing what type of posts are getting merited here frequently. I found that if you making list of related threads, compile useful stats, you can easily get merits easily. 2) Regarding merits being given to friends, some members are doing this. I consider myself a new member here and I do not know anyone here personally. |
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Probably the best way to get merits is by helping other people, there are plenty of forum sections where you can help new bitcoin/cryptocurrency users or anyone in general. You don't necessarily need to write full pages of content to get merit as long as what you write is useful or helpful to someone.
Rightly said, I remember there was a member who asked some unique query about his account. He mentioned in the thread that he will give merit to the members who help him with the issue. Two members replied to his query, he send 1 merit each to both members and then locked the thread. I think this should not be mentioned in the thread but it is obvious that if you are helping new members here even the senior members will notice this soon. |
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Hi i think merit must be half activité its impossible to to get 500 merit to ne a membre i think its must be 250
First of all, you do not need 500 merit to be a member. You just need 10 merits to be a member as per the current rules. I have been blessed to keep getting good umber of merits so far but I think we will definitely need more merit sources as a large number of users are competing here. In my opinion, admin will relax the requirements but you will still need some merits to be eligible for rank up. |
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Merit is The Worst nightmare to sig spammers , shitposters, account sellers and who owns a ton of alt accounts (scammers) . this feature makes their dance be out of balance, LOL. there are so many complains about this feature and most of the complainants are really in need i guess. Check the progress of merit after six months or more than to it. then, everybody will be evaluated and refined.
Most of the people complaining have realized by now that the admin is not going to make any change or take the merit system back. But once in a while, we see a new member (who might be inactive and thus noticed the change later) coming and repeating the same complaint. There should be some sort of sticky thread in meta mentioning that the "Merit system is not going to be reversed " . |
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i doubt it if facebook adopt BTC, price will increase instantly  Just the day they will announce it, price will get 1.5 times at least. I think these companies can really benefit from this. All they need to do is to invest a lot of money at current prices and then make that announcement. It will pump the prices like hell and then they can sell all those bitcoins to make decent returns. If they see their platform being affected by the change, they can even take the decision back after they have sold all their initial investment. |
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They are no match for fiats as fiats are solid and non volatile, much secured currency
We should not compare fiat with bitcoins. Both have got their own advantages and disadvantages. One of the biggest advantages of fiat or cash is that it is suited for small transactions. One cannot use bitcoins for such type of transactions because of the fees involved and also the transfer time. But the demerit is that their value will not increase with time. In case of bitcoins, you get some value for those coins but it also increases with time. |
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Rather than watching sitcom during your meal, go on to YouTube and watch videos on cryptocurrency. In this day and age, all kinds of useful information can be found online; how to trade, what to look out for in a cryptocurrency investment, what are the popular crypto-wallets being used. All this information will come in handy, and after some time, this knowledge will become second nature. CryptoGrinders has its own YouTube channel
A lot of YouTube channels have also emerged in regional languages. In my country I have seen more than 10 channels completed dedicated to crypto and they are doing quite well. I think the demand for such channels will only rise in my country as there are still a number of people who have not started investing yet. I also plan to start a crypto channel in regional language of my country soon with all tutorials about the exchanges present here. |
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Typically im spending my bitcoin to purchase extra things for my store and isolating it for different costs in our home like month to month bills and transportation spending plan for my children. Everytime I see that im acquiring I spare it and hold for some time. Bitcoin is only my additional pay since I likewise have day by day work so I was cheerful that as of late I figured out how to purchase another telephone due to the monstrous increment in the cost of btc before it dropped few days prior.
I have withdrawn my bitcoin profits only 2-3 times and it was just to check the withdrawal procedural on different exchange where I have saved my money. Since, I have other income sources that are used to pay for monthly expenses, I am leaving my bitcoin investments untouched. I plan to accumulate a good amount (at least $100000 worth of BTC) before withdrawing. |
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Of all the large companies that are now large internet players, do anyone particularly scare you in terms of how you data and track could be used? Amazon, Facebook, Twitter, …?
All of these are tracking user data and it is indeed scary. You forgot about Google as well which is also involved in this. If you involved with some large projects and want to hide details from these companies, make use of encrypted mail providers and also use proxy to hide your identity. Do not make any search on Google or YouTube with a logged in account. |
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Bitcoin and Altcoin have helped many people in every country out of their economic hardships, many unemployed and people who want to earn extra income have benefited from Bitcoin.
I remember reading the experience of a member here who has left his job after bitcoin trading for an year. He used to work in UAE away from his family and started bitcoin investment just to test the waters with the job. He started making god profit and thus also moved to alt coins. Very soon he was able to make twice of his salary with this and thus left the job. I guess a lot of people can make use of this opportunity in developing economies. |
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