Companies and governments are in constant pursuit of people’s financial data. Hence, more and more people are turning to cryptocurrencies as a way to escape this scrutiny. Although Bitcoin and other altcoins do offer financial security by way of decentralization, they don’t offer the same financial security as privacy coins, since every transaction is publicly viewable on the blockchain.
Ever since the COVID-19 pandemic took the world by storm, governments have been taking an aggressive approach towards collecting as much data/information from their citizens as possible. Their excuse is that they're doing this to help prevent the spread of the virus, reduce criminal activity, among others. But we all know their intentions. You ain't seen nothing yet with the Tornado.Cash sanctions. The US government have started with mixers, but they will escalate towards privacy coins when crypto/Blockchain tech becomes more popular than ever. What makes you think other governments won't do the same? I'm afraid we're entering the end of the privacy era. Sooner or later, governments will have complete control of what we do in daily life. It'll be a complete surveillance system where governments cannot only see your movements, but also your personal, medical, and financial information. With CBDCs, you can say goodbye to privacy for good. At least, decentralized cryptocurrencies will be there to save the day. That is if they're able to remain decentralized enough to withstand the test of time. With so many coins shifting to PoS, it doesn't seem crypto will remain decentralized for long. Only Bitcoin will remain decentralized, while the rest will "bow" themselves to the regulators. Who knows what the future holds for both crypto and our right to privacy? Just my thoughts  |
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This may be probably true. Either way, the real Ethereum is the Ethereum classic. It is the real network that was never forked and kept all the real records, including the DAO event. Its POW as well and the community behind has no intentions of changing to POS. It also has a lot of projets growing on its ecosystem, so ETC may be the best option to counter ETh
You're right about that. But people don't care which is the real Ethereum or which one is the "copycat". What they care about is which chain has the most dApps, tokens, and services behind it for a great user experience. Despite ETC being 6 years old, there hasn't been any kind of innovation that would help bring the masses into it. What developers have only achieved is "diffusing" the difficulty bomb to make ETC a PoW blockchain forever. But that still hasn't attracted other developers to build dApps on its platform. Without quality dApps and/or tokens, how would you expect ETC's price to go all the way to the moon? It's all about utility in order to keep demand at its highest. At least, we all know ETC won't go away that easily because of its established presence in the crypto/Blockchain space. ETHW, on the other hand, will die quickly because of the lack of a solid foundation behind it. The cryptocurrency was only created to enrich miners and developers without focusing on its utility. Why would you want another PoW ETH-based chain when you already have ETC? Ultimately, the market will decide which coins will stay and which coins will become history. As long as decentralization wins, there should be nothing to worry about. Just my opinion  |
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The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying: "I use USDT because it's more convenient, the value is stable"  You really think banks are behind crypto? If they were behind crypto, they wouldn't had been against it in the first place. Their response of launching CBDCs of their own, tells us they're afraid Bitcoin will take over the mainstream economy. If they don't do the move, people will simply abandon Fiat for Bitcoin. With the introduction of CBDCs like the Digital Dollar and the Digital Euro, banks will be able to stay in power for a little while. In fact, CBDCs will give banks and governments more power than usual as they will be able to have a full scope of people's finances. Every transaction will be visible on a digital ledger only they can control. They can't do that with traditional paper money, though. For the end user, the Digital Dollar would work almost exactly the same as credit/debit cards. The person won't notice any difference at all (except banks). Bitcoin's been going strong since day one, so it's likely it'll live alongside the US Digital Dollar for generations. Just my thoughts |
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Energy consumption has been a struggle for crypto miners. Energy groups as well as the government also want to stop them from mining for energy conservation. The return on investment also takes time and they're spending more than they're earning so I guess it isn't worth it especially during the situation of the market right now. The cost of energy consumption is too high which is really a burden when mining and it's even getting more expensive because of the inflation crisis.
Crypto miners can choose alternative energy solutions in order to make their operations a lot more profitable. Just because it's PoW (Proof of Work), doesn't mean it's all about harming the environment. PoW can be as green as PoS if miners put their will to make their equipment "carbon-neutral". Using solar energy, wind, hydroelectric, or even geothermal energy could make PoW greener. It's just that governments are using the rhetoric of "high energy consumption" to go along with their agenda of banning crypto/Blockchain tech for good. They want to specifically attack Bitcoin, since it's the one cryptocurrency that started it all. Most developers are afraid their projects will be "outlawed" by the government, so they've quickly turned to PoS even if that means sacrificing the decentralization of the Blockchain network. Ethereum, Cardano, BNB, and most other popular coins have adopted PoS as their consensus mechanism, leaving miners with very limited options. Whenever it's still worth mining or not, that will depend on energy costs, among several other factors. Everything's "gone to the roof" these days (as a result of inflation), so it's likely mining will become highly unprofitable by 2023. Just my opinion |
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If you look at the absolute cost in USD terms, countries outside the war zone has suffered more economic damage when compared to both Russia and Ukraine. Crude oil prices have remained high, LNG prices are up by 20x, coal prices are up by 2x, Potash fertilizer has gone up by 3x.etc. Prices of wheat, sunflower oil and barley are at historic highs. We now have double digit inflation in most of the countries. And I would say that the impact is felt more in third world nations such as India, since we import most of the oil and gas from outside.
I guess sanctions have really "backfired", just like Putin predicted. Now the world is facing the consequences of punishing one of the world's largest exporters of oil and other necessary commodities. Unless the war comes to an end, the global economy will only get worse. I hope both countries (Ukraine and Russia) come through some sort of peace deal for this nightmare to end once and for all. The world doesn't need another war, as many lives are suffering both in and out of the conflict zone. Not only Ukrainians and Russians are dying, but people from other countries are now facing starvation due to rising food and energy costs. The poor are now poorer, while the rich, richer. COVID-19 may've affected the economy for a short period of time, but the war/invasion that ruined everything for good. No one knows how long the conflict between Ukraine and Russia will last, so we can only hope for the best. Just my thoughts |
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All of the BRRR-Money-Printing started to put it all together. It was going to happen sooner, if not later. But because of supply side disruption caused by the Russo-Ukraine War, and the opening of the economy with all that COVID-19 money injected in circulation, it was caused to come sooner.
We haven't seen the worst of basic commodity price increases, plus more problems with winter approaching. The power grids in some regions of Europe will be further tested, and it won't be OK.
The global economy was showing some signs of recovery even with COVID-19 in play. What ruined it all was Putin's decision to invade Ukraine. This caused energy and gas prices to soar like crazy (especially in the EU), adding fuel to the fire. Inflation was rising during the pandemic, but now it became worse. Unless the war is stopped, don't expect inflation to ease anytime soon. Not even central banks' measures to help control inflation will do any good. People in the lower and middle classes are already suffering, while the rich are becoming richer. Who knows if we never get to see the light at the end of the tunnel? Just my thoughts |
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Time passes quickly as usual. I still remember BTC soaring to that magical price point and I kept thinking that $100K was right around the corner. It's sad to see it struggling to even rise above 20 grand these days, but this is simply a bad phase.
All currencies(FIAT and Crypto) are suffering these days thanks to inflation etc.
Am confident that BTC will rise slowly and steadily back to its previous ATH and surpass it once the global economy recovers completely which probably might take a couple of years.
Bitcoin may be struggling to get past $20k these days, but we cannot deny the fact that Fiat currencies have fared worse with ever-rising inflation rates. To say the least, Bitcoin has performed pretty well during these hard economic times. It has retained a price range of $18k - $20k, despite further pressure on the global economy. Considering that Bitcoin is still going strong, we can say it's the best-performing asset on Earth. You can bet BTC will soar well above just $64k per coin once everything goes back to normal. This is nothing more than the perfect time to accumulate as much BTC as you can while it's still "cheap". Who knows if you'll become the next Bitcoin millionaire someday? Just my opinion |
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I don't think this will affect Bitcoin's price, especially when there are other countries that are "miner-friendly". An EU ban would prompt miners to move to another region in order to keep their business running as usual. Just because most countries are turning their attention to climate change, doesn't mean Bitcoin mining will end for good. There will be a few countries that will allow Bitcoin mining, prolonging the life of the cryptocurrency. But you can rest assured that if PoW mining is banned all around the world, the community will simply "vote" to switch to a new "eco-friendly" consensus algorithm altogether. Whenever the switch will degrade Bitcoin's decentralization or not, it's yet to be seen. I wouldn't worry about EU's "anti-crypto" policies as long as there are other countries supporting it every step of the way. Just my thoughts |
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Does it even matter? Everything changes its value. With the recent inflation, some goods went up by 20%, some by 50% and some even became cheaper. It's also very different from country to country. And Bitcoin market recently reacted negatively to inflation, rather than being a hedge against it, probably because Bitcoin is more of an asset for "good" times rather than "bad" times.
Bitcoin went down during inflation times because people often view it as an investment than a currency. You can see why Bitcoin has been moving in correlation with the stock market lately. When tech stocks go down, the same happens to Bitcoin and other cryptocurrencies being traded on the market today. The FED's monetary policy (rising interest rates) has made matters worse, as Bitcoin struggles to get past $20k per coin. I hope the day comes when Bitcoin becomes independent from real world events, so it could prove its real value proposition as sound money for the unbanked. That means using Bitcoin without ever needing to know its price in Fiat terms. 1 Bitcoin = 1 Bitcoin, right? Who knows what the future holds for Bitcoin as an alternative to traditional Fiat currencies? Just my opinion |
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That's an excellent question. A full-scale nuclear war would disrupt the Bitcoin blockchain so badly, that only a small number of nodes and miners will remain online. By that time, people will be thinking on how to survive instead of hoarding currencies or investing in risky assets such as Bitcoin or Gold. Why would you care about Bitcoin when humanity would be at the risk of extinction? I'd say a nuclear war would be inevitable due to rising geopolitical tensions all around the world. There are many countries with a huge nuclear arsenal at their disposal, ready to fire at will. When will that happen (WW3?) is an excellent question. I just hope the conflict between Ukraine and Russia comes to an end, otherwise things will only get worse in the long run. Who knows if there's a dark future ahead of us? Just my thoughts |
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This is also something to take into account, and I've been expressing myself too. If the economy is in the current or worse state of recession, don't expect the halving to rapidly change the market. We are, however, supposing or at least hoping that things will have improved by then. In my opinion, the economy will be in a better state than the current one, but still won't be at pre-Covid-19 levels, which means that Bitcoin might not have skyrocketed by then, but one thing is almost certain, that Bitcoin will be worth a lot more than it is now.
Will it surpass the previous all-time-high? From my point of view, if it hasn't, it will be quite close to it.
Whatever happens, you can rest assured Bitcoin won't be going anywhere soon. I think 2024 will make Bitcoin bigger and stronger than ever, as more miners join the Blockchain for profit. After all, there will be less Bitcoins generated per block. Price-wise, Bitcoin should be able to reach a new ATH shortly thereafter if the global economy fully recovers. Even if the economy worsens, Bitcoin will be much more valuable than what it is right now (although it won't reach a new ATH in price) because of the rules of supply and demand. Kudos to Satoshi for making the best money the world has ever seen. Who knows if someday Bitcoin beats Gold as a long-term store of value? Just my thoughts |
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He just said that ETC is now 6 years old so don't expect that it will recover even after the bear market have passed. I think 6 years is enough to judge the quality of a coin. Sorry but a coin like that won't deserve our money not even a penny but only if we will risk our funds on a good coin or any new coin then we might get lucky and transform that tiny amounts into a massive one. ETHW might be a shitcoin but what about ETC?
If I were to choose id rather gamble for ETHW. On the other hand, managing fund is a must thing to do and it wasn't just an alternative. I wouldn't wonder anymore if you lose a lot or can't earn successfully because of that mindset you have.
Even though ETC never goes to $100, it will still be a fun cryptocurrency to play with. You can profit within the constant ups and down in market prices. For those inclined to PoW, ETC is the best Ethereum (ETH) alternative in the world. ETHW is redundant so it would most likely disappear faster than you could've ever imagined. What's important is decentralization and censorship-resistance. There are numerous coins being traded on the market today, but only a few are truly decentralized. I see ETC as a more decentralized version of ETH that's waiting to blossom someday. Crypto land is full of surprises, so anything can happen in the future. Just my opinion |
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We will always have the perfect time to invest, at least for a few more years, surely when bitcoin has 6 figures, someone will come up with the idea of believing that they have a "revelation" being simply relative to the moment. Just try to have the perfect moment every moment you can, in other words it's simple; buy today what you can, do the same when you reach any other value.
Your title could be a poster that will be valid for many years.
Exactly. Set yourself forward 10 years from now, and people will be asking whenever it would be the perfect time to invest in Bitcoin or not. By that time, Bitcoin would've been much more valuable than what it is right now. Even if prices decline by then, early holders/adopters will still be on a profit margin. I'm pretty sure Bitcoin will make many people rich if prices skyrocket like crazy. After all, it's predicted Bitcoin will go higher than six figures due to its extremely-limited supply of 21m coins. With high demand and a low supply, Bitcoin is poised to outperform every single asset on Earth. Who knows who the next Bitcoin millionaires will be? Just my thoughts |
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I doubt it.
Bitcoin is a good investment in the long term but for a country to become rich takes more than speculation in those quantities of Bitcoin El Salvador holds.
El Salvador, would need employ creator, education, destroy corruption and the criminal associations, in short being efficient.
Still have the faith that the future earnings for this Bitcoin holdings will be used to fund the processes necessary to reach a state of well being for people in El Salvador.
El Salvador would not only need to keep investing in Bitcoin to become rich, but it would also need fresh new ideas that would help attract tourists into it. The "Bitcoin City" plan might work if it goes full speed ahead. The more tourists spend money (preferably Bitcoin) in El Salvador, the higher the odds of the government becoming rich will be. That is if Bukele stays in power. If a political rival takes El Salvador president's place, then everything would be nothing but lost. No one knows what the future holds for both Bitcoin and El Salvador, so we can only hope for the best. Just my opinion |
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I want to tell everyone that so far he has not actually owned twitter and it is very likely that he will continue to get involved in another lawsuit related to twitter, so doge adoption on this social network won't happen anytime soon. He chooses dogecoin over bitcoin simply because bitcoin market is much bigger than dogecoin market and it will become easier to manipulate than bitcoin. As you said, he is very good at making money and I believe he chose doge for that reason and not because of the technology or the future of the crypto industry. https://www.yahoo.com/news/us-government-considering-national-security-121824528.htmlWe're going to have to see whenever the deal will settle as planned, or Elon Musk will change his mind again. If the lawsuit goes in, don't expect Dogecoin's price to rise anytime soon. Mr. Musk is a smart person, so he would do anything that's in his best self interest. By purchasing Twitter and adding DOGE to the platform, crypto will dive deep into the mainstream. This will be beneficial for Elon Musk himself, as it would cause DOGE's price to soar like crazy. It's likely the "meme" coin will go to $1 if the market isn't that bearish. All of the options are on the table, so it wouldn't hurt to buy some DOGE just in case. Just my thoughts |
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No one will ask the cryptocurrency community for permission to block a site with a smart contract and addresses.
This is one of the tests, then the blocking process will go faster. The crypto community needs to understand the risks and store their assets on more decentralized blockchains.
Exactly. Asking for permission to approve or disapprove transactions would make the blockchain a permissioned system. This would be similar to how traditional banking works today. In crypto land, everything's about decentralization to help ensure people can become their own bank no matter where they are in the world. Unfortunately, some cryptocurrencies have turned centralized in order to please the regulators. The developers behind such cryptocurrencies are afraid the government will go after them by embracing decentralization/censorship-resistance. They need to make the Blockchain centralized so that it becomes easier for governments to "enforce the rule of law". You can see why ETH turned to PoS quickly after the Tornado.Cash mixer was sanctioned by the US government. Now the cryptocurrency is heavily controlled by exchanges that are obliged to comply with sanctions laws. That means transactions that are related to Tornado.Cash would not be processed by such entities. The same fate awaits privacy coins if they decide to abandon decentralization just to please the regulators. It's a dark future ahead for our privacy in crypto land, so unless people step up to the game, we won't be going anywhere soon. Just my thoughts |
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Right mate. Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system? Bitcoin leads to the creation of CBDCs. And you're right mate, CBDCs can remain as primary currencies in this growing digital world but they also exposed their citizens to Bitcoin and crypto. Sooner or later, more and more people realized the importance of privacy and most especially the limited supply of Bitcoin compared to the unlimited fiat supply. The weakening of the US dollar's influence on the world market due to Chinese competition and the current arms race and mobilizations lead people to just select a decentralized currency like Bitcoin since it is not directly affected by politics. Bitcoin is what has forced governments to explore the creation of "Central Bank Digital Currencies" (CBDCs for short). If it wasn't because of Bitcoin, CBDCs wouldn't have passed through the minds of government officials and bankers alike. The reason why they're doing this is because they're afraid Bitcoin will displace the USD or any other national currency, due to its decentralized and censorship-resistant design. You can bet people would've completely abandoned Fiat in favor of Bitcoin as digital payments are faster, cheaper, and more friendly to the environment than just printing paper money. Now that governments have decided to go ahead with the launch of CBDCs, they will be able to be remain at a competitive level against Bitcoin. National digital currencies won't pose a direct threat against Bitcoin, simply because they're centralized by design. What they will do is increase adoption of crypto/Blockchain tech as people become more digitally-native. The US Digital Dollar isn't even under development (as far as I know), so we have plenty of time to enjoy paper money while it lasts. Just my opinion |
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Because the United States of America feared that bitcoin will be used globally and their currency, the USD, which is the most dominant currency of all time won't be the same anymore when Bitcoin will be much more established. They can put pressure and sanctions they want but they can't stop Bitcoin, dollar is getting weaker as the year goes by.
I wouldn't say the "Dollar is getting weaker" since the US is still the most powerful economic force in the world. The USD's position as the global reserve currency has been untouched even with the negative effects of inflation. We now have a stronger USD compared to the EUR and other leading national currencies. What the government is doing is trying to prevent Bitcoin from replacing the Dollar by regulating it as much as possible. If it doesn't act hard on Bitcoin, then more people will abandon the USD in favor of BTC. At least, the US hasn't banned crypto yet (unlike China). As long as the US is able to tax crypto successfully, we can be sure it won't be going anywhere soon. Just my thoughts |
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Dogecoin is a scam? I can tell you it has been around for almost 10 years and it even outlived a lot of other top coins. IOTA? I remember correctly it was also a potentially evaluated coin and now I don't see anyone mentioning it anymore, is it still alive? What project is MAXX finance, what do you say it will be better than doge, a new coin and such a fishy smell, how can you compare with doge?
I can tell you Dogecoin is NOT a scam. It's been around the crypto space for a pretty long time now. What I can tell you is that Dogecoin is not meant to be taken seriously because of the large number of coins in circulation. Even developers said so. I'd say DOGE has hold onto itself pretty well, even though other coins have died quickly. It may not retain its price for long, but it's certainly a fun little coin you can use for experimental purposes. For some reason, DOGE has attracted the likes of Elon Musk and other popular figures (eg: Mark Cuban) in the mainstream world. Especially Mr. Musk who's been a staunch proponent of the "meme" coin lately. Anything he says could positively affect DOGE's price, so I wouldn't be surprised if the coin "pumps" after the next bull run. As long as you don't put all of your life savings into crypto, there should be nothing to worry about. Just my opinion |
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I am aware even before the Merge that there will probably be an Ethereum hard fork that would continue with its Proof of Work system. But what I'm more interested about is whether this ETHW will grow big in the future or not. I am also aware that there are those who are saying that ETHW is unnecessary and redundant because Ethereum Classic (ETC) is already the PoW version of Ethereum. So why should there be another PoW Ethereum?
So will this ETHW that is currently valued at $6 grow big in the future?
Exactly. We didn't need another PoW fork of Ethereum since we've already had both ETC and Expanse. In fact, Expanse was the first ETH fork that started it all. Ethereum Classic was created at a later time when most community members were dissatisfied with ETH's decision to roll back the Blockchain because of the DAO hack. As I've said many times already, ETHW was only created as a means to enrich both the developers and miners. It has no future simply because it has no substance to it. Why would developers want to build on a PoW version of Ethereum that's redundant? There are far better options on the market with innovative features and a solid foundation built upon them. No one knows what the future holds for crypto, so either ETHW dies or keeps "pumping" for a little while. Just my thoughts |
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