As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?
First of all its affecting the fiat market and in turn it has crushed the crypto market. Due to covid-19 situation people are giving importance to health and well being rather than looking at the stocks, bonds and crypto's. This is temporary panic situation which has turned the whole economy upside down. You never know what is up next as the Covid-19 may worsen if we dont develop cure to it asap. Both the answer lies in the pandemic situation that we are in right now. If it worsens then there is no point of bitcoin, altcoin stuff neither fiat. Then it would be all about saving our lives. Regarding your question, its uncertain to think anything about it yet. We need more data on current situation then we might be able to solve it. |
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I am not interested in your topic around assumptions about members on this forum, I see a lot of assumptions made, there is no basis to confirm  But to talk about Covid-19, this terrible disease made me feel insecure  Ignoring temporarily the place I'm living, it's quite peaceful to worry. But looking at what is happening in Italy, Iran and some countries in Europe, I wonder how much worse it will be in the future. They seemed helplessly the damn spread of it A real crisis is taking place Meanwhile, recently, the UK still held a music festival for thousands of people attending, they didn't seem to be worried about the spread. I work in a Vaccine industry and we have already started the isolation of strains for Coronavirus. As it seems the study is coming up with complex behaviour of the virus and its self modification in reference with the external environment. In just few weeks virus has made itself sustain in harsh conditions like heat and cold. It can survive anywhere from zero degree (dormant stage) to over 60 degree's and thus making it more vulnerable. However, with the isolation we have confirmed the pre-clinical testing to held in next 6 months so as to start developing raw vaccine to be tested in animals. @Timelord2067, your assumptions are way far from correct as you would never know at what rate Corona will start spreading! It may just occur that it will start multiplying at far greater speeds than the current one due to its all time evolving phases. I am not sure if i look into this topic as mathematically fun with some serious background in it but scientifically its not worthy. (Just my opinion). |
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It's all about how you look at the things. There was a time when holding was profitable and the same time most safer way of earning. This thought comes in line with old days when price for bitcoin was much lesser. There was great liquidity in the bitcoin market and thus you always had chance where bitcoin rates were growing exponentially.
Now, trading is far easier as you could just take some small profits all the time due to volatility of crypto market. Yes, the more volatile market economy is the more faster trades can be built for profits.
So yeah, may be for now tradings seems to be great way to hunt the market for profits.
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I ask this because of the corona virus where people are too scared to hold money.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
I dont see any issues regarding fiat holding (!) I mean half of the population (practically) doesnt even know that bitcoin exists considering the developing countries where people are not much bothered about world over internet. There are surely many reasons for the same and list is big. Just because Covid-19 situation burst open out of nowhere doesnt mean bitcoin is safe place to keep your money. Economy is not recent, its not novel, its been there since thousands of years by means of different modes of payment (from stones, gold to vegetables!!!) Many incidences did happen in the past bringing down the economy and freaking out people but it never collapsed it completely. I guess thats enough justification as to why it wont affect people this time also. |
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People are done with panic buying toilet papers and alcohols I guess? Or that they don't have bitcoins to sell anymore. ~
Probably retail as just buying in this dip and then selling it just to get decent profit, specially day traders.
I wouldn't be surprise if I see some comments about "whale manipulations" later. Lolz. Its truly "standard" comment and wont go off ever in the crypto trading market. They always come up with manipulation strategy stuff to support the on-going dip drama. However, one should always look for the realistic reasons, for ex. in current scenario it's economic shut due to isolated market / completely shut down of international trades. Even fiat is behaving half-heartedly which is but obvious these days. Just imagine Gold itself; you will find all the answers from real world as to why Bitcoin and other crypto's are wave surfing so much. |
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Thank you so much guys. It was really great help from all of you. While searching for possible solutions, I came across this: https://www.blockchain.com/api/api_receiveHas anyone tried this before? How good is blockchain receive payments API? Can I use it in production? |
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Thanks Royse. This article cleared many doubts of mine. Bitcoinjs-lib is great solution to get started. I will do it from scratch.let's connect on (Telegram: @Mavensr) for more details
Sorry brother, I am not looking for someone to do it for me. This wasn't job opening. Some time ago, I ran a gaming site. I generated 10,000 (ten thousand) addresses and had my site dev keep it in the site's database to assign to each user uniquely.
Then we had a bitcoin daemon watch those addresses.
The private keys were all on my side, so it was almost as good as cold storage for each user.
These days, it might be better to use HD type wallets and use the master public extended key, so you have an infinite number of addresses, you just need a database to assign each address to each user.
Thanks Dabs. I will try this approach in the project. |
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I am logging on the forum after very long time. Happy to see that Bitcoin is still going strong and have strong community behind it. Anyways, I am currently building a project which requires an option through which users can deposit bitcoins to their account. It is somewhat similar to option provided by most of the gambling site.
Unique Address for every user ---> User deposits btc to that address ---> BTC goes to site's wallet ---> Similar amount reflects in user's front-end as balance
How can I implement this? If there's any thread where this topic has been already discussed then please refer me to that.
Also, I am not looking for options like BitPay or CoinGate. I want to learn how to develop it from scratch.
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I'm expecting a new crisis to arise in the next 4-6 years, i think what's happening in the loan and reposition industry creates a pathological state.
Banks are still feeling too safe for what they're doing, their mistakes will sooner or later bring on a decline.
Also considering austrian cycle theory, i'd say we're in the boom. Soon gold and solid cryptos might be the go-to when it comes to keeping your money safe.
How long do you guys think we have until we face the next crisis?
I think it will only be after the crisis that the potentials of cryptocurrencies truly shine. If a crisis comes, cryptocurrencies are just not at that widely accepted level that they could become some kind of a magic asset that guarantees your money safety. But after the economic depression, economies might look at a change in conventions, and maybe thats when bitcoin and other cryptos come forward as an option. |
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Invest now while the the coins and tokens are at their low value.. The impact of the low value of bitcoin affects most of the coins. We should invest now before it returns to is glory. Its is a simple concept of a stock exchange where we buy at lower cost and sell it a high value ,, an increase in value can be a big matter if you invest more.. count your investments not your savings,,, btw please follow me on twitter and i will follow you also. i promise , lets help one another to gain followers. GOD BLESS https://twitter.com/batrocioBut i dont think this is where the fall stops, i think we are going to see a few weeks or probably couple of months of more fall in value, before the crypto market actually reaches rock bottom. That is when i would like to invest my money again in the market, for now i would wait a little more. |
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I have been day trading Bitcoin for a few months now. Overall I'm pretty much making nothing and losing nothing. It seems to me that there is no logic at all to the market. No matter how much research you do, how much you look at the technical's and how much you try to hedge you absolutely can't predict the massive dumps that happen every day. They appear out of nowhere at random times and drop the market by $200 - $300 at a time.
This smacks of huge manipulation of the market. They are making it impossible to trade with bitcoin in any way other than a pure gamble. Anyone else noticing this?
But thats the problem with new day traders in every market. Be it stock market or the crypto market, day trading requires great discipline. No matter how much you feel cheated, dont trade with these emotions. Be rational and emotionless, and you will be a wise trader. |
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The national Assembly of Venezuela is preparing a reform of the country's Constitution, which provides for the creation of a crypto-currency Central Bank. It will be “the Central Bank" with its functions in exchange, monetary and financial policy, and the Central Bank will be involved. In Venezuela, from August 20, a new denominated currency will enter into circulation — the Sovereign Bolivar (Bolivar Soberano), tied to the national crypto currency Petro. On Monday, the country's President Nicolas Maduro (Nicolás Maduro) said that the country will begin to operate a new system of wages and prices, also tied to Petro.
I'm afraid this move might just backfire for both Venezuela and cryptocurrencies in general. Launching your own crypto, to salvage your crippled economy does not seem a very sound measure. Secondly other developed countries, might just see this as a dirty trick to by pass trade laws, thus damaging bitcoin's image. |
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I really didn't expect this, what do you think happened to ethereum. will ethereum be back in the near future! I hope that in the near future ethereum will return.
There has been a tremendous fall in value, but then the crypto market as a whole is not in a great looking position right now. There should be some revival in the value in the next few weeks, but it is high time now that we see some price stability in ETH. Probably this fall would help in getting rid of useless speculators causing this volatility in the first place. |
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One of the key issues here would be the cost of implementation. Most of the developing and third world countries where this welfare is most needed lack the proper infrastructure needed for the wide use of cryptos. But if these countries do find a way to implement cryptocurrencies economically, it would surely revolutionize their overall consumption and GDP figures. |
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In an economic sense,
An INVESTMENT is the purchase of goods that are not consumed today but are used in the future to create wealth.
In finance
An INVESTMENT is a monetary asset purchased with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit.
I really don't want to turn these into an economics class but the both definition of what investments are clearly should settle the argument of whether BTC is truly an investment or not.
Bitcoin does fulfill all the criteria of becoming an investment, it is just more volatile than more traditional forms of investments. People will eventually start to look at cryptocurrencies as a highly lucrative form of investment where they would like to lock their funds in. In many countries there is a currency crisis, or in some, people have stopped looking at real estates as a form of investment due to the blatant over valuation prevalent in the market. Cryptocurrencies would certainly emerge as the people's choice in the future. |
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There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.
During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.
But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.
From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.
Though for now, bitcoin ETF is delayed until a later date.
What's your opinion about this development?
Claiming market capitalization to be bitcoin dominance is a false exaggeration. Even if the market capitalization continues to rise, it would not threaten the existence of altcoins. As when more investors would eventually want to enter the crypto market they will want more than one place to lock all their funds in. Besides it will be really ironical if bitcoin would eventually become the doom of the ICO market. |
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what do you think is the real value of ETH ?
the only usage is for ICOs and they have been dying or losing their market at the very least as they either get banned or people simply stop trusting them anymore.
as for its supply, it is huge already. we have passed 101 million ether already and there is no max amount to it either. we will see it increase indefinitely.
in my opinion the real value of it is visible on ETC so ETH should also be wort the same or at least near that price which is why $50 was my choice.
what do you think?
ETH has been riding on bitcoin's price boom for a long time. It is bound to take a huge drop, 50-100$ seems to be the right guess. Now that the crypto market is witnessing a bearish trend, it might just entail a warning sign for ETH too. |
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As long as the use of bitcoin and crypto is increasing. Different country and company are constantly bringing new crypto currency to the market. Statistics show that the amount of investment is increasing in the crypto sector. Some banks are already accepting Bitcoin payments. Bitcoin is being used in most countries of the world and there are no restrictions on the use of Bitcoin in those countries. Bitcoins are being accepted on various online sites. Since the discovery of Bitcoin, nearly 2000 more cryptos have come to the market.
Despite the so-called bright future in Bitcoin and Crypto, why do many say that all the cryptos will disappear from market?
There are broadly two types of people who say that bitcoin is bound to be doomed. On one hand there are those who are ignorant of the fundamentals of cryptocurrencies and the decentralized world of blockchain. On the other hand there are fearmongers and frustrated traders who keep denying the potential of the ICO market. There is no logic in listening to either of them. |
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