One thing I am sighting here with the pandemic is the cashless payment alternative of money, so people had the options to convert their fiat to digital currency. From the start of the lockdown most local fiat exchange didn't have a usual business activities, that's why we experienced huge impact when bitcoin abruptly increasing in demand.
Also with the trading, buy and sell activities increased so fast that's why we reached at an ATH of $60k this year.
It is indeed true that cashless transactions dramatically increased, also because all those grocery stores explicitly asked their customers to use their credit or debit cards for payments in order to avoid Covid 19 infections. However, it is of course not like cryptocurrencies received a boost in usage because of that. Most of the stores that demand credit and debit card transactions don't have the proper infrastructure anyway to receive digital currencies. |
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Regardless if it's missing something, the fact is that bitcoin is being viewed as a hedge and companies are putting in their balance sheet, it is already a good news for us.
Indeed, it is good news. But still curious about missing Binance on the list, while I read Coinbase above. But seeing more and more companies take a part in Bitcoin investment, is absolutely amazing. This indicates that even the owners of big companies are confident with the future of Bitcoin. They are no longer afraid to put their money in Bitcoin as future assets. bitcoin is now one of the best assets, and could be in the top three, together with gold or oil. And for more in the next 5-10 years, this list could grow.
Definitely, the list will grow and show us more big companies to join. I expect that Amazon, Facebook, Mastercard, or even Google to join Bitcoin investment as well. If those companies really buy Bitcoin, then we will see the Bitcoin value growing probably above $100k. Read: https://www.thestreet.com/crypto/bitcoin/what-big-company-will-buy-bitcoin-nextI really can't believe that list to be correct. I would expect an exchange like Binance to own possibly close to 100,000 Bitcoin or even more. Just do the calculation what they collect in fees on a daily basis and multiply it with a reasonable average factor for the time they are around. That is just insane. I once thought that the 5 biggest exchanges in the world are probably controlling most of the Bitcoin supply and can hence manipulate the market close to perfectly. Do they really convert all the fees they collect straight into fiat? I don't believe that. Oh, and where is Craig Steven Wright on that list? He must be pissed seeing that!  |
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Amazon is running out of sectors to expand its business. Recently they have been making some overpriced purchases, which makes zero economic sense. One example is the acquisition of MGM (Metro Goldwyn Mayer) studios, for $8.45 billion. It made most of the MGM movies (4,500) and TV shows (17,000) available on Amazon Prime Video. But given the fact that most of the blockbuster movies can't be immediately added (due to existing agreements), the deal looked overpriced. On top of that, there are concerns regarding anti-trust actions.
Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas.
Lol funnily enough, if you take a look at their IR reports, they are indeed still pouring back money in to reinvest. And I really don't see how we can say that "they don't have enough room to grow" even if Amazon's eCommerce arm itself has a lot more room to grow globally; and that's just the tip of the iceberg. That is why I said "in some areas". There are also a lot of areas where they definitely will grow, not least in the (delivery-)food segment with drones and what not. Their highly profitable segments are quite saturated. In e-commerce the most important question would be whether they ever get into a position to conquer Chinese market share. Apart from that, which geographic area do they not dominate in e-commerce? Aren't they all over the place except for China? |
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I was mining bitcoin for 3 years invested around 4500 usd for mining equipment
Sold 2.7 btc bought land and paid construction company to build my house.
Am I rich? No but helped me a lot without btc i would never have that i have now plus i have 2 btc for saving
Btc alone gave me a 30-40 years of working and saving
Btc is my god not bank
When you started mining, did your mining device mine at profitable prices or did you have to wait for the price to increase in order to make your investment ultimately pay off? Because often times people are better off if they just buy Bitcoin instead of investing in mining equipment. When did you start mining and which devices did you use? Damn those times when you could mine Bitcoin just with your laptop, that must have been fun!  No I was mining for 3 years and holding almost 8 years i started mining with those usb miners 332mh/s each i could afford buy 15 of them later i get avalon bitfury and s1 in 2 pcs still have all this garbage now in basement lol That is impressive, I mean holding for 8 years straight really requires balls of steel.  Every time Bitcoin goes up you must have thought what if holding is the wrong decision, can I ever be happy again if I don't sell and goes towards zero again? I can imagine that was sometimes rough to decide that you are not going to take action but just hold and wait until it really goes through the roof, hats off! |
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I was mining bitcoin for 3 years invested around 4500 usd for mining equipment
Sold 2.7 btc bought land and paid construction company to build my house.
Am I rich? No but helped me a lot without btc i would never have that i have now plus i have 2 btc for saving
Btc alone gave me a 30-40 years of working and saving
Btc is my god not bank
When you started mining, did your mining device mine at profitable prices or did you have to wait for the price to increase in order to make your investment ultimately pay off? Because often times people are better off if they just buy Bitcoin instead of investing in mining equipment. When did you start mining and which devices did you use? Damn those times when you could mine Bitcoin just with your laptop, that must have been fun! |
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No. Because growth companies such as Amazon need their cash ready to be used for more growth. Not saying it's impossible though, who knows what the economy would be like then. Just unlikely in my opinion.
Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas. |
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That's an interesting overview, but I am a bit surprised by the numbers. I would have expected a company like Coinbase to own way more Bitcoin than what is said in those graphics. Does anyone know in how far those graphics are verified? Are those numbers from any published balance sheets of those companies? I guess in the case of Coinbase the answer might be that they hold a ton of other cryptocurrencies as well like ETH, BNB, XMR, etc.
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Every pandemic of that level will have an impact not only Bitcoin prices and crypto assets, but also on all other assets as well because people are forced to sell part of it in order to be able to pay their bills and survive. During such a pandemic I guess what mostly happens is that wealth of low and middle income classes gets destroyed while the super rich can buy cheap what others are forced to sell below prices that are prevalent during normal market conditions. It is a redistribution of wealth towards the top because they can afford investing even in bad times.
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The institutional investors needed the go from regulatory bodies, but I can very well imagine that the people behind those institutions already invested in Bitcoin personally. If they were fully against Bitcoin they would probably also not be that prone to invest in Bitcoin as an institution. But they slowly but surely realize that the train is leaving and becoming faster and faster.
This may be a different case with institutional investor. If you are a company owner, and your country has bitcoin friendly rule then maybe you should also consider this investment early on if you are really interested in the potential that bitcoin has. Private and institutional investor are very different, they have the same goals but very different ways of investing. Private investor only think about profit and their own future, but institutional investor will think about how the balance of the company's balance sheet is maintained and they are also determined to boost the popularity of their company by investing in bitcoin. For example Tesla, now his company is widely known by everyone in the bitcoin community because they invest and accept bitcoin as a mean of payment. I get what you are saying here but I would say that Tesla is a bad example for a company that gained popularity because it is dealing with Bitcoin or investing in it and accepting it. Tesla has been known by everybody anyway. Kodak is a better example. I think they included the name Bitcoin or Blockchain somewhere and there shares on the stock market went through the roof only because they added a certain word to their name or so. It was a weird story and I think they got some trouble for manipulation as well. |
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They’re probably hiring someone to secure a process for storing Bitcoin so that they can add it to their balance sheet. The last thing they want is for the price to soar from everyone frontrunning their trade causing them to get less Bitcoin for their dollars. That’s likely why they were so quick to deny reports. I imagine it will be a long time before we see them implement a system to accept BTC for goods.
Don't you think that Amazon possesses a huge bag of Bitcoin already? Jeff Bezos could have easily said to his accountants even years ago to put a billion USD into Bitcoin. It wouldn't even have hurt them at all. I can't imagine that they literally own zero Bitcoin at this point. They could have bought 100,000 BTC like three years ago with what is pocket change for them. |
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maybe this is the cause of bitcoin prices rising these days. I think there will be more good news about bitcoin so with positive news about bitcoin this will cause the price of bitcoin to rise again, hopefully it's a good journey for bitcoin towards $70,000 by the end of this year. No this already turned out to be a rumor. See some other topic where it is explained why this rumor is not true. $70,000 is a long way to go from here and I am not sure we are going to see $70,000 this year. I would be happy if we can get at least a little bit closer to the ATH. |
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Just see the last post in my post history, this turned out to be fake news. Now the magic that this rumor caused to the market has been fully disenchanted. Luckily though whatever effect it caused on the market, that effect seems to hold more or less for now. Still around healthy $40k, which is a positive outcome of all of this! |
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Ok this puts the nail in the coffin. There are now a couple of threads here on the forum full of enthusiasm, but to be honest it's not only this forum. The whole market freaked out as it seems just for fake news. It's crazy how easy it is to spread such a rumor that turns out to be fake news. Whoever that was, I wonder if that person or group of people knew the market would respond like that. Congratulations then on their leveraged long position that they probably by now sold. |
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Plus also many countries are starting to adopt bitcoin for this payment system adding trust value to bitcoin. The increase in adoption is proof that trust in bitcoin has grown. Bitcoin has long been trusted as one of the most potential investment asset by the community. Now institutional investor have stepped in and invested most of their money to support bitcoin as well as efforts to get better profit opportunities compared to other investment asset. So far there are about 18,768,287 btc circulating in the market. When the demand for bitcoin in the market increases, the price will rise and will also affect the market capitalization to be larger. Adoption is one of the reason why the demand for bitcoin is increasing and that is because its use as a currency has increased. The institutional investors needed the go from regulatory bodies, but I can very well imagine that the people behind those institutions already invested in Bitcoin personally. If they were fully against Bitcoin they would probably also not be that prone to invest in Bitcoin as an institution. But they slowly but surely realize that the train is leaving and becoming faster and faster. |
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They can do that easily. So far, so good in my experience. Those scam ads that I've seen before that were appearing automatically on the pages I visit were now gone.
But I think some are still existing on top page results when you search for specific projects or topics on google.
This is actually very true and a lot of scam ICOs got the opportunity to advertise their scams via google. Maybe that's why they once shut it down. Then again it is the sam with the gurus that want to sell their advisory courses to you these days. That plague is all over the internet now. They've shut it down but still, there might be some in existence that Google can't track. But I think this time they're more aware of what these scams have done to their platform and they've been flocked by those ICO and other scam projects. With my observation, they've improved. Maybe Google got some pressure from legal authorities because if it is only about the fact that some projects were a scam, Google should also be forced to prevent those guru scammers selling their courses via Youtube advertisements. That way Google legitimizes these guys by lending them the reputation of their own platform. I wish they would be more consequent and not only be that strict when it comes to cryptocurrencies. |
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Now some countries have begun to treat Bitcoin as legal currency, which shows that Bitcoin has been recognized by more and more people. Existence is reasonable, and the prohibition by a few governments cannot be comprehensive.
That's only part of the story to be honest. Even though it is cool to see that some countries are making the first step towards acknowledging Bitcoin as legal tender, you have to take into account that those are also countries which suffer from some form of hyperinflation anyway. |
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Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset). What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.  if based on the agreement of all countries it looks like bitcoin can lose. but if it's only 1 or 2 countries it looks like bitcoin will still win. the most important thing is how the attitude of the countries in the world in responding to bitcoin and the real bitcoin effect., Even if 50 countries decide to ban Bitcoin it can still win. It would need almost the entire world to get rid of Bitcoin and even then Bitcoin isn't gone. How are you going to destroy it? The blockchain is out there on millions of computers. Another government could change their mind and boom you can just activate you wallet and there you go. You can't eradicate Bitcoin. You can only try to somehow make it difficult for people to use it, probably you can't even prevent them from getting it when there are decentralized exchanges involved. |
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I do remember that google did impose bans on crypto advertisement. Facebook followed the same thing too few days later. But didn't they lift the ban after a year or so? I am almost sure I have seen crypto advertisements on google ad sense. And what if the company is outside the US? They can't register with FinCEN. How are they going to advertise then? But yeah. Good move by google. It looks like more companies are starting to recognize crypto industry as a legit industry.
They should still be strict with those ads because some scams are managing to bypass their process and still got some ads with scams. But they've done a well done job so that many people won't be misled again by these scams. Crypto has been a legit industry but just like other industries, it's being attacked and swarmed by scammers. Before, I saw many investment schemes on google ads on a website that I visit daily. It's a pyramid scheme with a note that your money will be x10 within a week. I think Google will need a tool that will determine if the cryptocurrency ads are appropriate or not. I think many people will click the ads if they saw something like this, and it will be risky for sure. They can do that easily. So far, so good in my experience. Those scam ads that I've seen before that were appearing automatically on the pages I visit were now gone. But I think some are still existing on top page results when you search for specific projects or topics on google. This is actually very true and a lot of scam ICOs got the opportunity to advertise their scams via google. Maybe that's why they once shut it down. Then again it is the sam with the gurus that want to sell their advisory courses to you these days. That plague is all over the internet now. |
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Bitcoin's future is not certain as anything else, but what we know is that it represents a valuable, secure network for making payments worldwide and that it is a scarce resource.
From this known facts we could assume that it is designed to be both a proof-of-value in which people to store their economic credits (money) and a method of transfering those credits.
Bitcoin can become the base layer for virtually unlimited number of applications built upon it. DeFi apps are built on a sidechain of Bitcoin (RSK) as we speak. Some are already generating great waves of interest. I don't think there is a "result" for Bitcoin. I see it more as an ever evolving network. Perhaps you can call them milestones like achieving a certain market cap or on-chain volume, but you can't call them a "result".
Unfortunately, the term payment network would awake false hopes for many. It is like calling a truck a car, renting a truck out as a car to a couple who wants to have some relaxed holidays traveling in a nice car. Bitcoin is not what one would call a payment network I guess. Maybe a special purpose payment network at best. Imagine you never found out about Bitcoin before and someone says to you it is a payment network. You say cool, let me get Bitcoin and grab some coffee. Uhm, well, the fee will be three times as high as the price of your coffee and you may need to wait for an hour until your payment is confirmed. Bitcoin may evolve towards a payment network, but right now I'd say it is for sure not a general purpose payment network. I like the bolded part of your statement, I totally agree! |
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