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I would consider Bitcoin to be the most global cryptocurrency as of press time but as to it becoming like the preferred global currency in the or replacing the US Dollar which is good for international commerce transactions we still need to be patient because before getting there can be taking so many years...that is if we will really get there. In the first place, the very high volatility of BTC is killing any chance to make it to that level and remember that without this volatility I don't think there can be a very popular BTC today. As of now, there is nothing very attractive incentive for people and countries to be using Bitcoin as a global currency going forward from just media publicity.
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Am sure all the turmoil affecting the crypto market right now including those classified as DeFi platforms can push down the trust and confidence of the many on decentralized finance thing. We have to remember that there is a big and strong expectations from the users that they are dealing with safe and potentially lucrative platforms here and only to be dismayed when they find out that what they trusted too much has been hacked and is now a candidate to just be another relic in the frauds and scams infested industry we are in. Personally speaking, I am no so sure when will I ever trust DeFi again.
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As of now, there is no specific law that prohibits anyone to be shilling any coin or token in the cryptocurrency market...this remains to be unregulated market and therefore it would be hard for this case against Elon Musk to really prosper. Now, had it been done with stocks or similar regulated investment vehicle then maybe it can be a different story. Another thing is that Dogecoin is not owned nor started by Elon so he is just another holder who then believed in its potential and there are so many out there who made the same similar posts. I am then sure that this case can be another impetus for governmental agencies to really push for a clear-cut crypto regulations.
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OP is a funny man who is only entertaining ideas and opinions that are against Bitcoin. Now, he should be aware that if people will be rejecting Bitcoin for any reason they are rejecting the whole of cryptocurrency and BSV is still part of this industry which means it would be rejected too. In fact, when BTC is falling down, there is more chance that the value of BSV is doing the same thing as it is not detached from the whole industry. Of course, OP will all be silent or probably be looking for another reason of attack once the crypto winter is over...and it would be over based on the history of Bitcoin. My next question is: How come BSV has not overtaken BTC yet in many areas if it is really superior to the latter?
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That's right, my friend. In fact, for people who think that Bitcoin has become expensive especially when it hit the $60K mark, this is the best time to add more BTC holdings all because we know that soon there will always be that reversal of fortune...that is taking the very history of the price of Bitcoin in the open market. In Bitcoin, there is a great ascent and there can also be big dips and dips is where the opportunity is. We should never forget that truth.
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Whether it can be USDT or USDC they are both the same but for the sake of putting eggs in many baskets...why not entertain the idea of putting half in USDT and the other half in USDC? Having said that...congratulations on finding a very creative way of advertising Natomi. I know you are just posting that for the sake of promoting that site. Anyway, good luck and more power.
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The industry we are in is now getting synonymous with hypes, half-truths/half-lies, scams, frauds and collapse. I am still excited with this industry but my view is getting dim everyday especially these days when there is an ongoing big deep DIP. As to NFTs, many are really like that...many projects in the world of NFTs are made just to get as many money as they can and I am sure that just like the ICO craze in 2017 many will end up with high-prized NFTs with no market value soon.
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Based on my own experience in the past, the real answer is that no one can really answer when the crypto market will be back for good. Yes, I think we are already in the winter stage again but I am sure that this will not be as long as we have experienced in 2018...who knows a month from now everything will be green and the confidence of the market can be showing up again. Or I can be wrong and this whole thing can be dragged into 2023.
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In the face of this very deep DIP, those who are really serious with Bitcoin should always look for the long-term. Admittedly, that can't be an easy thing to do for holders who just like me can be small and may not be financially stable. As for the big holders and the whales, I think they can do whatever they want and many may continue on holding on waiting for the time when the tide can be reversed...and it will really have its own time again as this is always a question of WHEN and not of IF. Good to see and read an inspiring post like above reminding us of the colorful history of Bitcoin and why holding on is the right thing to do.
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I heard many valid concerns on USDT and it can be rooted on the lack of transparency from the organization behind it but I think they have already learned their lessons and I guess they are more open now compared in the past. Personally speaking, I am still trusting USDT more than any other stablecoin plus the fact that it is the most used one by a lot of people and transactions everyday. I am expecting that Tether will even be more transparent, agile and resilient in the face of the market upheavals as a result of the Terra's UST collapse.
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We assumed that if there will be a time when the economy would be experiencing a good level of inflation then more and more people and institutions would be getting BTC as their hedge or protection from the ill-effects of inflationary pressures...but right now when inflation is very much on our faces how come BTC is so sluggish? Frankly speaking, am confused too and I want to know the real scope in here. Can it be because investors are looking for the possibility that BTC will further go down in value...may even going down below the $20K threshold? Or maybe we are just so assumptive with this idea...?
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