I don't discuss geopolitics here. I only wonder will this war causes the inflation worse?
Generally speaking, any war can cause the prices of commodities and services to go up for many reasons and on top of the heap is scarcity and the increasing demand, not unless majority of the people in a certain country can be decimated so demand for many stuffs is critically reduced. Now, having said that, the concern is on the ongoing conflict between Israel and Gaza and as far as my country is concerned we already experienced a little increase in the price of gasoline here since we are an importing country and usually an uptick in the price of this commodity can affect prices of the common goods in the market. Let's hope the war will not spread, otherwise this can be catastrophic on our end. |
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Right now, Bitcoin is on the upswing due to the excitement for the big possibility of ETF approval by SEC and there is no stopping people from accumulating more hence maybe things have become like a self-fulfilling prophecy and that is why maybe we are getting something like an advance news for the approval since it has become inevitable anyway. For the record, it is not approved yet as we are still waiting for the announcement from SEC so this is just a matter of excitement that can't be contained.
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If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?
You should know the parameters for the concept of being rich. Like, here in my country, you must have many properties and must have enough liquidity to be termed as rich...and sometimes you have to be showy for your riches for others to think that you are one. The point is that being rich is a very subjective term. Now, having 1 BTC will not make you rich...maybe I am suggesting you HODL that 1 BTC for around 20 years who knows the price of that in 2043. As of press time, in my own personal estimate, you must have at least 50 BTC for me to call you "rich" and not anymore poor. |
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While I agree with some of the ideas or fears presented here, there are also things am not so sure of. However, I do admit that it seems there are really some good number of people who are convinced at on the long-term basis ETF for Bitcoin will not be a good thing to have and its positive impact will be so near-term. Anyway, we are all just human so we can never be sure of what can be as factors can be moving parts that can be changing as time passes by. The thing is that there is no stopping people to file and set-up any ETF they wanted as Bitcoin is not liken to an exclusive village where only a few can enter.
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In the past years, I heard many good things that can supposedly come out once the Lightning Network would be fully implemented and be adopted by many for transactions. This is one thing that we are pinning our hope that can translate massive and mainstream adoption for Bitcoin - most especially with small everyday transactions. I am then wondering...is this defect something that is beyond repair for one of its developers named Antoine Riard to disassociate himself with the project instead of coming up with the possible solution?
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I would try to avoid the reference to Bitcoin as something magical though I understand that maybe from the perspective of people who are mesmerized of the things that BTC can do then maybe there is certain in it that constitute beyond what we can imagine and experience...just like the story of maybe Cinderella who lost her shoe. Anyway, there is some truth that with Bitcoin you can somehow be your own bank but for now we still lack some infrastructures and some players for us to conclude that this is so true though in the future this can be so possible.
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From time to time, as per my cryptocurrency experience, I am using both CEX and DEX platforms in trading and/or converting my digital assets to USDT which am using for P2P in Binance. I would say, however, that am more into CEX than DEX and this is all because of my full trust in Binance. As of now, both CEX and DEX are doing good business so this is just a matter of choice and convenience. Now, am expecting that years from now, DEX can be able to improve more on security as no one would love to be dealing with risks of hacking anytime.
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For now, many NFTs are getting the downward trend in terms of value and many of NFT investors in the past years are now realizing that they are sitting on something that are not anymore excited as they used to be. Yes, there is no denying, hype was a big part of NFT soar in the past and in my opinion this is the biggest reason why they are now getting valueless as most NFTs are not representing any use-case at all. What will you do with a picture of a stone? I think a cheap real stone can be better since we can use it to crack the coconut. Right now, am wondering what is the real future of NFT...will it be soaring in 2024 buoyed by BTC bull run or will it slowly die due to lack of interest from the market?
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The government wants to balance consumer protection with innovation in blockchain technology and digital tokens.
Well, it is definitely the responsibility of the government to be regulating anything that it feels it has jurisdiction with, especially with the intent of protecting the people and/or the general public from unscrupulous players in the industry. I do find this news to be a good news for the cryptocurrency industry in Australia as we are slowly moving away from the Wild Wild West era which dominated in many years and in many ways resulted into loss of money of people victimized by scams and frauds. |
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These governments that are not friendly to Bitcoin and the whole cryptocurrency industry lacks full understanding of the trend that is going to stay into the future. And sometimes you could not fully blame them because first and foremost this is something that is really new to them...or should I say unprecedented. Remember that in the past, many known personalities that were then working with the banking and financial sectors also called Bitcoin as just another scam...but many of them are now supporters of Bitcoin and even also holding some BTCs in their portfolios.
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It is just human nature to get tired of waiting most especially if that waiting can be taking not just months but years. Looking at the history of Bitcoin, we can say that those who still hold their BTC years ago can be so lucky but then again we must recognize that they sacrificed a lot when waiting for the right time to let go. I always appreciate the holders of BTC who are not tempted to encash their portfolio but the same thing can't be said for a guy like me who two years swap my BTC for something else that I thought can give me good financial returns only to realize later that I was then looking at a mirage.
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Well, meme tokens can be trending anytime once there are a number of people who can be pushing the said thing for their benefits or when one has been already dead and people are crying to their heart's content. As long as there will be buyers and traders of meme tokens then I am not expecting for them to die soon but the fact is that they come and go so the best thing to do is to buy when it is just starting, make a big campaign for others to also buy and when the price has already pumped then it is time to say goodbye.
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If these entities do the exact same thing banks do, why are stablecoins rising in popularity? Investors could lose it all in an instant without even knowing it (unless they check the blockchain, of course).
Stable coins are centralized and the issuers basically control everything about it, they can print as much as they want (even if it is backed by nothing), or they can freeze it in their customers' wallets if they have a reason to. Stable coins are growing in popularity because some people are ignorant of the risks that are associated with it, whilst others use it because they have to (especially traders). The thing is, irrespective of your reason for using stable coins; you should not hodl it for the long term, use it for whatever purpose you want and sell it for Bitcoins immediately after. There are risks involved with stable coins but since they have become a very important player in the cryptocurrency market they could not just be dismissed outright. I am using stable coin too and I find them to be convenient and can protect my gains while trading some digital assets. However, we know that stable coins are issued by centralized platforms and because of this fact alone they can easily do whatever they want...whether we agree or disagree with them. Now, am just wondering...is it not possible to have decentralized stable coin? Sorry if this can be just another naive question. |
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On Monday, the crypto-focused media outlet Cointelegraph disseminated false information via social media platform X and its Telegram channel, triggering a more than 10% spike in bitcoin (BTC) value against the U.S. dollar. The digital currency briefly touched $29,900 per coin before plunging to $28,100 per unit once the news was debunked. Cointelegraph, despite issuing an apology, was too late to prevent the market upheaval that resulted in the obliteration of $78.92 million worth of short positions. sourceQuoting for reference. Yeah, it's a fake news as what we say, but the good news is that the price really went up, and so far we are at $28,4xxx. So it really put a spike on the price, and it seems that it has sustained the run despite it being exposed as not so true news. Clearly, this is some form of manipulations from big entities, so in this market that we live in, "bad publicity is still publicity'". And I think this is the nature of crypto related media though, news are not verified and they are put up for click bait. Not so surprising as this has become one of the common nature here in the cryptocurrency market...as it would sometimes be easy to make and distribute unverified news that can move the market to go up or down. Anyway, let's take this as a good news as Bitcoin seems to be enjoying the pump and staying there for now. Congrats then to those who made some money with the upswing and better luck next time to those who experienced the other side of the coin. |
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I am not surprised to know that the USA government is actually a big holder of Bitcoin and they are actually taken from different personalities and organization who got caught by the law doing illegal acts or business. I am wondering when they would auction a chunk of that holding am sure many could be interested to bid and enjoy the possible profits just like what Tim Draper did in the past. On the other hand, this is telling us that actually the USA government is looking at Bitcoin with real value and something that is not illegal, otherwise maybe they would just destruct them...just like what they could be doing with illegal drugs seized on different operations.
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