I still haven't seen any confirmation or denial yet regarding the JPM bitcoin stuff, so I'd think that in all likelihood it is true. Often companies are much more likely to deny false information vs confirm true info. Regarding the news section of the WSJ, it is quite left-center biased, but you are correct, some of the conclusions should be taken with a few grains of salt. Often, but not always, the news section is pretty fact based although the news section has ignored facts that have been presented and documented elsewhere in the WSJ. |
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Happy halving, hoping the price increases  I wouldn't count on it short term. Long term, much more likely. It was nice to see the block pop up on the CLI. Watching for a block is kind of like watching grass grow, but I've watched all three now just because it is an interesting and perhaps historical thing. |
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@Naida_BR. Part of my argument is also where would longterm sustainability come from if the real world's economy is in depression? Bitcoin does not pump on its own.
One thing that could provide it *if* the world were in depression is people who want to protect their assets from the insane amount of money printing that would then be occurring. Heck, it is occurring now, but one suspects it would grow even more in the event of more distress. However, I think that continued usage and tech improvements along with the halving of new supply is probably sufficient to support an increased price over the longer term. |
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I think, now, it would be nice to find a solution to a true stable coin.
Many projects try to tie a stable coin to a specific currency. And this is a wrong decision.
A stable coin must be a certain constant or similar to π (3,14).
Perhaps this should be the arithmetic average of several known currencies(usd, euro, jpy, cny, rub, indian rupee ....).
And then cryptoeconomics will take its next step.
This is a good point: what would you want a stable coin to be stable against? Why though, would you want something that is stable with fiat which is inherently unstable over any longer period of time? Why would you take one of crypto's strongest selling points - protection against the instability of fiat due to the whims of people/politicians - and neuter it? Why duplicate the weakness of fiat in crypt when you can just purchase a basket of fiat currencies without the overhead of crypto? To me it sounds like the illogic of having a centralized crypto, which is pointless, one might as well just use a database. |
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It seems to be an open question as to whether this will be a deflationary, an inflationary environment, or something not particularly different than the past few years. I know some high value investors are betting on deflation, while some are betting on inflation, there is someone on each side of the trade. I don't think anyone *knows* but a lot of people think they are right, and half will be.
As far as its impact on bitcoin, the next halving, technology improvements, usage, etc will have a lot larger impact on the fiat price of bitcoin that inflation or deflation.
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Lol, is this the first time that Chinese heard about halving? I doubt that, remember majority of the miners are in China so they have long been waiting and anticipating the block halving. Google trends? of course, everyone is at home, so obviously, the search will spike. I doubt that this will cause the price to spike prior to halving, everyone has been accumulating specially 2018-2019, so the price is already in. Maybe this is a bear trap, no expert in trading, but I'm not comfortable seeing the price going up like this.
Do you think that the current spike in btc is artificial and bitcoin will dump, then it is Bull trap, not a bear trap. I can't say with surely where bitcoin will dump on halving or pump, but in the long run bitcoin will pump big. By the end of December 2020, bitcoin will surely cross 20,000$ and then 2021 will be a great year for bitcoin. The key is one's time horizon. If one is saying "the next few weeks/months" are going to be great for bitcoin's fiat price, one never knows. Ditto for even the next year. No one really knows. If one is talking about the technology, every year has been a great year for bitcoin. 2020, 2021, 2022 will all likely have great advances in the tech and the applications of it. Again, the key is that long term, the technology is important and the fiat price will likely follow advances in technology and usage. |
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More press for bitcoin is always a good thing particularly if it is positive. The halving isn't a negative no matter what, a decrease in supply with a constant or increasing demand will result in higher fiat prices.
Any adoption by the people of China will help both bitcoin and the people of China. It will help them protect themselves from the collectivist who are intent on controlling them.
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The most important question on everyone's mind right now is Bitcoin set to rally into the halving or will we see another dump and retest of the recent lows? In this video I take a in-depth look at the possibilities and probabilities of what happens going into the halving. https://youtu.be/j78WSzThEK0TLDR;: The fiat price will go up, go down, or stay the same. Previously it has gone up over time, particularly after a halving - within 6-18 months of the halving it has risen. No one knows what will happen this time. It might rise into the halving, or it might not. I think that sums it up. :-) The short answer is that if you believe in the ability of technology to protect people's assets from the authoritarians/totalitarians/socialists/communists and other elites, then bitcoin will rise over the longer term. |
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"Price drops" depend on your timeframe. Someone who bought or mined at any point before late fall 2017 is still doing great. Anyway who panics at all should probably not be investing in bitcoin or they need to think of buying bitcoin is something they should do today and not revisit until 2025 or something.
The halving and tech upgrades to bitcoin over the next 6-12 months are catalysts that could drive the fiat price higher. Just remember no one knows though for sure what the price will do. Plenty of people have said (since I started mining in July 2010) that Bitcoin was doomed etc, the same people are around today except that the price has gone up from way under $1.
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"Price drops" depend on your timeframe. If you bought in Dec 2017, it is a lot differs compared to if you bought (or mined) any time before August/Sept/Oct 2017. For me, if your horizon is weeks or months vs several years, that is the issue.
Bitcoin has been through a lot. As time progresses and more people become involved the volatility in fiat will decrease. The next halving, technical upgrades etc are really going to change things over the next year.
Anyway who panics should probably not be investing in bitcoin.
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Looks like rushed product/service since most likely they're trying to take advantage of COVID-19, i hope their customer service/support will be helpful (especially to new Bitcoiner) since many company's customer service/support become worse due to COVID-19.
Agreed. The skeptical me is thinking that this might be one of many exit mechanisms created for the wealthy and the dirty money to escape capital controls from their country. Giving people the power to escape capital controls is a good thing so that when the powerful and elite screw things up and then attempt to force everyone else to pay for it, there is an escape hatch. Politicians like to have mandates and controls without thinking of the consequences. Things like requiring banks to issue loans to non qualified borrowers etc. Cyprus with its disastrous haircuts to accounts about 7 years ago etc. |
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And the sun is hot.
Bitcoin has been volatile all along and it will remain so until the market expands. If ever the US and others have ETF type products that bring in hundreds of billions of dollars (or euros etc) to the market that will help bring stability since it will allow large amounts of capital already in the capital markets to enter (and exit) bitcoin without having to use external exchanges.
While the market is large right now compared to 10 years ago or 5 years ago, it is still not large enough with enough large players to be stable.
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The halving is coming. Hopefully 6-8 weeks before that things start looking up for virus related news and the combination could be tremendous. The virus fight is key though.
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Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle EastAlthough it’s difficult to quantify demand for bitcoin (BTC) in informal markets across the Middle East, small-scale traders from Lebanon to Yemen say interest in bitcoin as a safe-haven asset, not a speculative asset, is stronger than ever. Source: Coindesk In the long run, bitcoin is and will become a safe haven. Whether it is for any particular entry point in any particular geographic location for any particular holding period, that is a different question entirely. If you purchased in December 2017 from Europe or the US, then it didn't (yet) preserve your capital. If you purchase in December 2017 from Venezuela or someplace like that, then it did most definitely preserve a lot of your capital compared to holding your local currency. Without a lot of additional information such as when one purchased, where one was when one purchased, and the timeframe that one intends to use it to protect one's value, the equation is somewhat meaningless. If you mined in 2010 and 2011, it has been a great safe haven. |
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Yes. How could anyone think that it’s not? If they can get 100% return they would just borrow the money from someone. And yet I’m sure there are plenty of people who will put money in and then complain later.
There are plenty of venture capitalists who would gladly lend them money. Family and friends etc
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Well, there are so many ways for you to protect your money or account from hackers. I will list down all of the ways I know to prevent hackers from your account.
1. It would help if you created a strong password - do not create a simple password, try to put capital letters and characters or symbol on your password.
2. Add 2FA on your account - it is very recommended for everyone, once the hacker knows your account information, it will still be hard for them to access it because of 2FA.
3. Protect your computer - The main reason why we get hacked is because of an unsecured network, do not click untrusted advertisements or links to prevent viruses on your computer.
4. Keep your account on your self - only means do not share it with anyone.
Those 4 are my ways to secure my account; if you know more ideas on how to secure your account from hackers, feel free to comment is so we will all be benefited from it.
"Account"? What account are you talking about? Are you talking about an account on an exchange? An account on your computer? I don't have a bitcoin "account". I have an offline wallet. The best way to protect your bitcoin is cold storage except for what you intend to use immediately. |
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Anyone who believes BTC will thrive in a global cratering in its current position has spent too long reading r/bitcoin and nothing else. In a decade or two there might the glimmer of a possibility. Deffo not now.
And cash of course is not a great thing to be in long term, however it's not for the long term. All the same I wouldn't want to attempt to time it.
I agree with you, short term, cash is fine, but not long term. As far as whether bitcoin would thrive, I think a lot depends on uptake. Every year with more people holding it as a safe haven, and particularly this year with the new supply halving, bitcoin becomes more and more a tool to protect one's wealth from authoritarians the world over who will use any means possible to obtain someone else's wealth. |
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Vaccine where? I read it may be available in a few months only, and up to now 3000 persons died and 80k are infected...In a few months, a lot of things can happen
Also to point out here, that there are 80k *known* infected. In all likelihood that is way underestimating the actual number. In the US for example, I suspect it will get into the thousands over the next week or two given that now they are ramping up testing whereas before it was very limited. So it will in all likelihood show a big increase in the number of people infected, it will only be due to testing showing that people are infected. As far as a vaccine, hopefully it will be 'a few months' but given how slow things go from a testing and regulatory standpoint, it could be 12-18 months. |
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Anyone who thinks cash or bonds are a safe Haven is ignoring the effect of inflation which will destroy all their value over time.
Exactly! Besides, it's being hypocritical. All these peeps do is brag about how your money should be 'working' for you 24/7. Your 'Cash' shouldn't be sitting in your bank accounts but rather should be invested and so on... and when there is a looming crisis on their head they eat up their own words... this shit is funny to watch... However, it is also being hypocritical of us that we base the value of bitcoin on the unsafe, inflated dollar. In any case, cash and bonds might be the safe haven only for during bear markets hehehe. Exactly, with the "hehehe". 😀 You are right, with perfect 20/20 foresight, many things can be a safe haven since one always knows what's coming. 😀 As far as valuing it, true, it isn't perfect, but it is the main option right now. Although a btc/gold pair wouldn't be bad. One key difference right now is, of course, the fact that over the long term such as several decades, fiat loses a tremendous amount of value/purchasing power, whereas bitcoin has gained it over the last ten years. Fiat is like a slow leak of air from a tire. Bitcoin has been a rapidly inflating tire with some intervening ups and downs in value aka pressure. I do keep most things invested pretty much continuously though since my crystal ball isn't working well for the short term, but has a good track record for longer term trends. |
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Coronavirus, and Bernie were the big fears last week! Anyone who thinks cash or bonds are a safe Haven is ignoring the effect of inflation which will destroy all their value over time.
Bitcoin could be safe from Bernie, if one needs to get out from socialism's capital controls to somewhere that is compatible with freedom, not slavery.
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