I never expected any support from Elon Musk as it's not the natural growth of the coins, but simple manipulation. It doesn't mean that the coin is really promising and will continue growing. We all know how hype works. So I'll continue supporting the projects I've chosen and checked by myself.
Exactly. What Elon Musk is doing is simply manipulating the market for his own benefit. It's very obvious Bitcoin will rise in price, especially when it's the future of money. Probably Elon Musk bought Bitcoin at a cheap price and wants to sell it higher for profit. The same can be said about trying to "pump" Dogecoin's price with his tweets. People should really move on from Elon Musk and start focusing on what matters most. It's not about Elon, but rather how crypto/Blockchain tech can change our world for the better by eliminating the middleman from the system. Unfortunately, many people are into crypto to get rich quick. So don't be surprised if more "suckers" fall for Elon Musk's tricks, due to greed. At least, we know Bitcoin won't be going anywhere soon. Who knows what the future for the entire industry will look like? Just my thoughts  |
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Totally agree with that. The times you are talking about is what we are living in now. I won't lie, I personally don't buy BTC these days, because my country is in a very harsh situation right now, no one can afford investing in other things than those of prime necessity. But it's obvious that BTC will reach a new ATH in a year or two, and people who buy it today will have a good return on their investment.
Bitcoin WILL reach a new All-time-high in price. The question is not IF, but rather WHEN it will rise in price again. Many are hoping BTC to go bullish after the halving of 2024, but there's no guarantee this will happen. Everything will depend on the situation of the global economy, for Bitcoin to go up in price. A lot of negative stuff happened during the course of 2022, so I believe it's going to take a little while before we're able to fill our pockets with money. At least, Bitcoin won't be going anywhere soon. That's thanks to the way it was designed. As long as it doesn't turn centralized, we should have nothing to worry about. Just my opinion  |
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The cycle cannot always repeat. Otherwise in 100 years 1 BTC would be more than the GDP of all countries combined Not an exact science I'm stating here but there is always a ceiling... The sky is the limit to how far Bitcoin will go in price. If it continues to rise in popularity, then the pioneer cryptocurrency would be set to destroy Fiat for good. We're going to have to see how everything will play out as crypto/Blockchain tech matures itself in the mainstream world. I believe Bitcoin will go higher than just $64k per coin, especially when it hasn't reached the world yet. There are a lot of people worldwide who haven't even used Bitcoin before. If we include these people, the price (and market cap) of a Bitcoin would be a lot higher than what it is right now. I'm pretty sure it will be in the "millions" within a couple of years from now. I'd say the current bear market is the perfect opportunity for you to buy as much Bitcoins as you can for a huge discount. Who knows if buying now will lead you towards untold riches in the future? Just my thoughts |
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Traders in this country will do everything possible to make this plan come to reality to approve Bitcoin as a legal payment, so that bitcoiners in the country will start purchasing goods from sellers and pay with bitcoins. If the tax the Brazil government will impose to Bitcoin users will not too high in the country, I guess it will attract other customers to have interest on Bitcoin and how to use it to purchase goods and other things in the country without using fiat money for payment
I'm hopeful Brazil will soon join the ever-growing list of countries that accept Bitcoin as legal tender. If the President signs the bill, then this would be a huge win for Bitcoin in the long term. After all, Brazil is one of the major economies in South America. With more countries joining the game, we may be closer towards "hyperbitcoinization" than we've thought. Maybe this will signal the end of Fiat sometime in the future? As inflation continues to harm the economy, we will continue to see more countries inclined towards Bitcoin. Early adopters like you and me would greatly benefit in the long run if the world embraces "The Bitcoin Standard" with open arms. As long as Bitcoin remains decentralized, there should be nothing to worry about. Just my opinion |
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It is unfortunate the weak hands have to suffer this much and lose their money but that is just the way the markets work, the money flows from the impatient investors to the patient ones, and this is never going to change regardless of the asset we are talking about, and while I would like for the market to remain stable and to not have any other crash until the next bull run comes, the truth is that there is so much time remaining until that happens that it would be weird for bitcoin to remain static for such a long amount of time.
You've said it yourself. There's a long road ahead before Bitcoin becomes "stable" enough for mainstream use. The crypto market is still relatively small compared to the stock market. I'd say these "hiccups" will ultimately become history as crypto becomes a "force to reckon with" in the future. The Mt. Gox collapse, and now the FTX collapse will make the crypto industry much more legitimate to the eyes of investors and traders within the long term. This is only the beginning of a long journey ahead for crypto/Blockchain tech. Of course, we should expect stricter regulations after the aforementioned events. This means greater KYC requirements, and more restrictions to both the end users and crypto companies. But at least, this is better than crypto becoming "illegal" for mainstream use. The future is widely unpredictable, so we can only hope for the best. Just my thoughts |
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02 - Abiky Good luck everyone!  |
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It happened before and it can be repeated after another halving, we never know what future will bring though, but if you have spare and you still trust this market better to focus in collecting / buying those cheap assets that you can take while we are still in the bearish state. Always keep in mind that there's no time frame. What is important is your willingness to keep holding until you achieved your target.
It's business and it will continue to impact the flow of money during bearish season, try to make a good use of these opportunities.
Bear markets are unavoidable. They're part of the cycle of any market where assets are traded on a daily basis. Besides, crypto is not the only kind of asset that suffers from volatility. Stocks are also volatile, albeit at a lesser degree than crypto. History has shown us that crypto bounces back after each bearish period, so I'm confident the same will happen after the Bitcoin halving. Elon Musk knows BTC is worth more than the current market price, especially since it's the future of money. If you buy now, you'll be able to reap huge rewards within the not-so-distant future. Who knows how far BTC will go? Just my thoughts |
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In my opinion, the digital dollar (CBDC) could negatively affect the future of Bitcoin.
Currently, the first cryptocurrency can be bought and sold for cash. Cash is untraceable. Therefore, governments cannot ban Bitcoin. Also, in many cases it is difficult for regulators to correlate information about the purchase of Bitcoin with the identity of its new owner.
However, the digital dollar (CBDC) allows regulators to fully control all cash flows in the country.
This gives them the potential to control all Bitcoin transactions and even completely ban the circulation of the first cryptocurrency.
This would only apply to centralized exchanges. But not P2P transfers happening on-chain. A person could simply buy/sell Bitcoin without having to go through centralized exchanges (which are traceable by the government). Of course, CBDCs will enable governments to have a full-scope of a person's transactions. But as long as you don't disclose that some transactions are related to Bitcoin trades, you'll have nothing to worry about. The Digital Dollar or any other CBDC for that matter would only mark the beginning of the end for paper money. Everything else will remain likely the same as it is right now. Bitcoin and some other cryptocurrencies are decentralized, so it's likely they will live alongside digital Fiat for generations. Who knows if we're closer towards a cashless society than we've thought? Just my opinion |
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I think hitting $20 is possible in the long term but it won't be easy because its supply in circulation is around 8.7 Billion and maximum supply is 10 Billion which is huge. Matic at $20 means its marketcap 200 Billion dollars which can only happen if total coinmarketcap reaches 10 Trillion or Matic team come up with burning mechanism (to burn small portion of Matic with every transaction) to reduce its supply to push up its price.
If Ethereum became a deflationary cryptocurrency, it's likely Polygon (MATIC) will do the same sometime in the future. Such change would require the approval of the community to go through. As much as I'd want MATIC to go all the way to the moon, it's best for the supply to remain as is to help keep network fees as low as possible. Otherwise, a high-priced MATIC could put some pain on users' wallets when performing a transaction on chain. The Polygon network is being adopted by major companies in the mainstream world, so it's likely it will stay with us for a pretty long time. Who knows if it lives alongside ETH for generations? Just my thoughts |
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Technically your right. We don't need to hit the lowest bottom to buy some bitcoin. As long as we catch the dump before the upward trend, I can personally consider it as buying at the bottom. I will be happy even if I catch a BTC dump even it's $500 more than the lowest price as long as the market will go uptrend. I haven't hit the exact dump price in my whole crypto experience, I always place myself at my buy zone. As long as it's hit, I'm pretty happy with it.
I have newbie friends that thinks like they need to hit the rock bottom price, This is why I assume that they strive for bigger profit. And yeah I told them that it is very hard to catch, I just told them to be happy with the profit they can get with their entry point.
Exactly. You can always buy at a low price and then sell it higher when the market turns bullish again. We cannot tell how low Bitcoin will go due to the unpredictable nature of the crypto market. Many factors have negatively impacted BTC's price starting from The FED's monetary policy to the Russo-Ukraine war affecting the global supply chain. And don't let me get started on the Terra/LUNA implosion and the FTX collapse. If there's a right time to buy, I'd say this is the moment to build your wealth for the future. Weak hands will sell due to FUD, but strong hands will keep buying no matter what. As long as you don't put all of your life savings into Bitcoin, you'll have nothing to worry about. Just my opinion |
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Technically speaking it depends on the surviving amount of people. Nuclear war is something that may destroy all life on earth at a certain level, which means if there are no humans then there is no bitcoin, as well.
However, if there are enough people left, and if all of those people are not cancer ridden (nuclear war distributes radiation, which causes cancer) then one way or another bitcoin could survive as well if we can keep the internet going. Basically it all depends on the amount of people left, and how big is the war. That will decide on everything else and that will make sure that it will go smoothly afterwards, or just good old walking dead style or not.
That's certainly true, mate. Why on Earth people would use Bitcoin during a nuclear crisis? The first thing they will think about is survival. This means food, shelter, water, and clothing will be on top of everything else. As I've said before, Bitcoin will survive but not many people will use it because of the reasons mentioned before. I guess the BTC blockchain will be in a pretty weak state due to a reduced number of nodes and miners on the network. I'm hoping Elon Musk or someone else launches Bitcoin nodes in space to help make the Blockchain immune from a full-scale nuclear war. These are uncertain times we're living into, so we should expect the unexpected. Just my thoughts |
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I understand both sides. As users, we want low to no fees. As miners, we want fees. If there is no incentive, there will be fewer miners. With fewer miners, the network will be less secure.
This is why I support fees. They may not always be so friendly. But we need a secure network. And if incentivizing means better security, would you accept the compromise? Or would you have a less secure network with zero fees.
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Regards,
PrivacyG
Me too. I'd prefer to pay fees just to contribute towards the security and reliability of the underlying blockchain network. Bitcoin may be slow and expensive at times, but its level of security is unmatched. I guess that's why no other cryptocurrency has been able to take its place on the market yet. It's not about how many bells and whistles a cryptocurrency has, but rather how secure it is against external attacks. Cryptocurrencies with zero fees aren't that popular these days, especially when they're way below the top coins in market cap. Miners/stakers/validators ultimately decide which coin stays on top and which one goes all the way down the drain. Who knows if Nano, Iota, and other DAG-based cryptos become history soon? Just my opinion |
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I think the EU bitcoin mining ban will be temporary as they are having a severe energy problem but once the energy is resolved, everything will be back to normal they will lift the ban. As you said, they won't want to miss out on huge tax revenue because they understand that even their ban won't stop bitcoin and only make miners move to other countries.
I hope so. Otherwise, Bitcoin would be doomed in terms of mainstream adoption. The more countries turn against PoW mining, the higher the risk of insecurity will be. For some reason, EU countries are pushing the "climate change" narrative targeting Bitcoin's damage to the environment. There may be a hidden agenda to try to destroy Bitcoin completely. If the US joins the train, then it's likely other countries will do the same. Let's see how everything will turn out to be after the Russo-Ukraine crisis comes to an end. This is only true if the ban is only in one US state and EU region, but if bitcoin is banned worldwide, then bitcoin will be destroyed for real.
A worldwide ban would negatively impact Bitcoin, but not to a point where it'll be destroyed for good. I think some people will still mine BTC in secret just to help support the blockchain (even if it will be illegal to do so). You really can't stop something that's decentralized and censorship-resistant by design. Of course, it will be much more difficult to get access to Bitcoin when the government is against it. But there will always be a way to circumvent restrictions, allowing Bitcoin to flow freely as usual. Who knows what the future holds for the cryptocurrency? |
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Yeah, the only difference is that we are about to hit the peak at December 2017 with it's massive bull run.
But this 2022, it's the first year of a massive decline in price, from $69k to what kind of price we will see at the end of this month and obviously the year. So I also doubt that we will see $20k, most probably this will be the boundaries that we are moving till the end of December, around $17k'ish.
If there is no FTX collapse, probably is, we are going to close maybe in the vicinity of $20k. But it is what it is. So we will have to accept what the market will offer to us.
We can't expect prices to rise after everything crypto has gone through the course of 2022. A lot of things need to settle down, before crypto could rise back to its former glory. The FTX collapse is very similar to the Mt. Gox collapse, so it's likely confidence into crypto will be restored after some time has passed. I think Bitcoin will continue to decline in price, especially when "The FED" will keep raising interest rates. Maybe it'll go as low as $10k the next year? The crypto market is widely unpredictable so we can only hope for the best. Just my thoughts |
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There is no future for decentralized exchanges. In a few years, most of the cryptocurrency market will be regulated by the SEC and similar regulators. Recently, in a closed group, there was a conversation with a representative of a major exchange from the top 20.
Regulators send them recommendations, but do not force them to comply with these requirements. The requirements of the SEC apply to most countries, and if a crypto exchange refuses to comply with these requirements, then it will be banned in many countries. The same applies to large decentralized exchanges. They will all cooperate with regulators.Of course, there will be ways of decentralized exchange in new projects, but they will be greatly inferior in terms of liquidity and opportunities.
I'm afraid you're right, mate. With increasing regulatory pressure from mainstream governments, developers of DEXs would have no choice but to make KYC mandatory to prevent their project from being shut down for good. Once that happens, there would be virtually no difference between a decentralized and a centralized exchange. What makes a DEX unique is the ability to trade cryptocurrencies without revealing any personally-identifiable information. When you add KYC to a DEX, you'd be introducing a single point of failure (which is something crypto/Blockchain tech was meant to avoid in the first place). Crypto is heading towards a dark future after the Terra/LUNA and FTX collapse, so we should expect further centralization down the road. Just my opinion. |
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I find it quite funny that this topic is trending at the same time when people are asking that should they avoid CEX:es because of FTX and are saying we should use DEX:es.
But answering to this question: Word "trust" isn't something that has to be absolute. We know there are risks in both and this is why the prices move. There's ton of risk of many kind involved in investing cryptos / using cryptos.
However i want to support DEXes. I am not keeping much of my money in liquidity pools or something like that. I keep list on which wallet is connected to where so i don't keep too much money on any wallet that could be compromised
DEXs have so many limitations which make them look inferior to their centralized counterparts. Why would people use something that's slow, has low liquidity, and requires some level of technical knowledge (especially keeping self-custody of your coins)? We can't think about DEXs replacing CEXs if such limitations exist. While developers have been improving DEXs over time, they still have a load road ahead before they become mature for mainstream use. At least, we're not tied to a single option. We have many alternatives to choose from, so it's likely crypto will move on from the FTX collapse and emerge bigger and stronger than ever. Who knows what the future holds for crypto/Blockchain tech? Just my thoughts |
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Done and done
Payment confirmed. Thank you! |
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Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?
Hate to break it to you, but the vast majority of so-called "decentralized exchanges" aren't as decentralized as they claim to be. PancakeSwap is "living" on a centralized blockchain network (BNB), while there have been cases of censorship from Uniswap (not to mention the developer team didn't disclose Uniswap V3's source code to help prevent forks from getting traction). People will simply continue using centralized exchanges because they're easier to use, and have a wide balance sheet unlike their decentralized counterparts. With issues such as low performance, high fees, and low liquidity on DEXs, centralized exchanges will be here to stay. FTX's collapse is just history repeating itself, where a major crypto exchange Mt. Gox went all the way down the drain a couple of years ago. Centralized exchanges will learn from FTX's mistakes and come back bigger and stronger than ever. With regulations weighting on the industry, it seems to me centralization will prevail in the long run. Just my thoughts |
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It is true that experienced investors don't bother what Elon Musk say but it is important for them what FED chairman Powel will say on 14th December about interest rate increase which will determine the direction of market for coming weeks.
I think the correlation of Bitcoin with stock market is likely to continue during the bear run but as soon as Bitcoin enters in bullish phase, it will outsmart stock market.
Yes. We should expect further pain down the road as The FED continues to increase interest rates. But at some point, this will stop since central banks can't keep doing this forever. Once most of the world's largest central banks (especially The FED) stop increasing interest rates, it's likely Bitcoin's "bullish" phase will begin. Maybe by the end of 2023, we will see the light at the end of the tunnel? Things will get pretty interesting after the Bitcoin halving (2024), so it's best to buy "cheap" coins now to prepare yourself for that moment. Who knows if making the right decision would lead you towards untold riches in the not-so-distant future? Just my opinion |
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For my perspective not all government will banning bitcoin mining because we already know there is two legal tender country that accepted crypto is elsavador and central Africa I think this two country will not bitcoin mining.
and second now most countries pledged zero carbon emission, if bitcoin using 100% renewable energy it should be fine
Exactly. Not every country will ban Bitcoin mining for good. Both El Salvador and Central Africa have embraced Bitcoin with open arms, so it's likely the mining industry will grow in those two countries alone. We're going to have to see if the EU will change its stance towards Bitcoin if PoW mining becomes greener over time. I'm pretty sure the bloc will revert its decision of banning PoW mining if it becomes carbon-neutral. After all, they wouldn't want to miss the huge taxation benefits the mining industry provides. Rest assured that if the "mining ban" isn't lifted, Bitcoin will carry on as usual. That thanks to its decentralized and censorship-resistant design. If mining hashrate would've been concentrated on a single region, Bitcoin would've been doomed by now. At least, there are a wide number of miners spread throughout the world, making Bitcoin stronger and resilient than ever. Who knows if Bitcoin lasts for generations? Just my thoughts |
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