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I feel like this whole talk and attack on the bitcoin mining is just some wierd conspiracy theroy, the energy consumed by the bitcoin mining is barely anything compared to some other useless things that consume more and has no value, because if you think about it the only party that is going to be affected significantly by it is china since they have most of the mining power, plus i feel like tesla is setting things up for a big move where they either create their own crypto or premote thier battery/energy production in the future.
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The overbaught/oversold strategy is pretty well known and i have tried it with things other than bitcoin and crypto like major currency pairs, and for the most part it works under certain conditions like no major news affecting it, but like any trading strategy it is not 100% fail proof plus you need to take into account the limits of how much you can invest and how far the site allows you to go with the trade, so my advice would to use this strategy alongside other indicators in order to determine the entry and exit point.
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I really think that companies like apple will slowly lose their market cap because of how thier bussnies model is, as for the cryptomarket in general it is a fairly new and for it hitting the market cap of 2 trillion is insane, especialy for bitcoin since it holds almost more than half, and that is whith the current price so i am sure that in a couple of years that we are gonna see bitcoin taking over and becomeing the number one go to investment especially if companies like tesla start investing in it.
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I really think that this whole doge coin meme is gonna die out soon and it will reach a point where the price is gonna reach a somewhat stable position, you can't really base your investment decisions based on some scripted joke that Elon Musk made on TV, if it was the actuall company making an investment like in bitcoin than there would be another whole discussion, and even if coinbase introduces it to its wallet its not gonna change a lot, no one has the right to tell you whethre to sell or hold just make thing based on what you see best and remind yourself why you invested in it in the first place before making any move.
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The only reason that many saying that bitcoin is a buble is because they are not able to control it because it is not centrelized like the other assests which investors are used to, but the reason that people invest in bitcoin is because of the new ideas and the solutions to the fiat currency that have been forced on us to use for years, and that idea is what makes bitcoin a long terms investment that you can trust and invest in it because it represents the future and anyone who thinks its a bubble does not have a valid reason behind it.
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Should I care about organised crime using bitcoins ?
I don't. Shame on me, I know.
On the contrary, the fact that organised crime will spend energy in using bitcoins ensures me that governments won't be able to control the bitcoin network.
Crime should be fought for what it is. A murder is a murder. A theft is a theft. But when a criminal is using a car, he's just a person who is driving a car. Fast cars are important for thieves, for they allow them to escape from police. Still, I don't think it would be a good idea to forbid the use of fast cars. It's the same old debate regarding the tool and its use. A hammer can kill someone, if it is used in this intention. Still, we don't ban hammers.
Therefore, I don't care if organised crime is using bitcoins. I don't care at all. There are other ways to fight criminals than tracking their expenses.
I totaly agree with you, for a long time many people and the media have linked bitcoin with crime which hindered it progress for quite a while, crime is crime whatever you do to combat it poeple just keep on coming up with new ways to do it and if governments want to combat it they should find new ways to do it, and the same way that bitcoin is anonymous to the criminals and drug dealers it is anonymous to the governmment so maybe they can use it to their advantage to catch them. |
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It is crazy to think that one company such as TESLA is able to push the auto industrie and revolutionize it, because if you think about it the electric cars were there the whole time it was not a new idea, and major car companies did attempt it for years, but the way that tesla was able to push it forward and compete with them with just one product is mind blowing, sure there is a limit to where a certain company could reach but i think that they are yet to reach it especialy with how they are constantly coming up or improving on many technologies.
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I think that the covid situation has made a lot harder for poeple and investors to make any financial decisons without thinking twice before doing it, and the stock market is a risky busniess so it is no wonder that you wouldn't see any crazy amounts of moeny being dumped into it, and i feel like these past 2 years have opned the eyes of the investors into the digital and crypto market more and seeing how much potential and how profitable it is and i am sure that we will see more of the stock investors slowly migrate into this market .
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Having bitcoin reach the 1 trillion market cap this early siçnce its launch is only a sign of how much potential and how big it could become ine the future, and even though pople having second guesses about it every time the price goes down it still proves them wrong but coming back even stronger than before, especialy in the past 2 years where cryptocurrency gained a lot of attention and a lot of investors and major companies have started acknowledging it, and i am pretty sue that a year or 2 from now bitcoin will reach a new milestone.
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The thing that i learned about earing money online, is either it envoles a lot of time or money investment or both at the same time in order to reapr rewards or at least to make money that would be considered an income that you could support yourself with, or it involves a risk like trading and one way or another in the long term you would make mistakes and lose money, so online money making in my opinion should be just considered as an extra income and not as a main way of living and poeple should seek other real life job to do so.
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We have been hearing about china banning bitcoin for years now, and every time the rumor comes out the price drops and after a while things go back to normal, i don't think that china is actually able to completly ban the mining of bitcoin, sure they can lay down harsher crackdown on it but poeple would still do it because of how large it is, i feel like the news about tesla no longer accepting bitcoin due to enviormental impact has more effect on the price than china banning, because if you think about it the miners that we will lose from china could be easily replaced but a big company saying that bitcoin is bad and will no longer use it do to bitcoin mining having bad impact on the enviorment is gonna take a long time to chnage that idea.
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The only reason that people say such thing is because they think that investing in bitcoin is an easy and fast investment whith high returens in the short term, they look at the the prices and make faulse judgments and they either end up losing a lot of moeny and than start talking bad things about it or sell early and end up making barely any profit, bitcoin is a long term investment and the people who truly take the cake are the people who support it for years and endure through the dips and lows that comes with it.
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Many posts lately claim that this cycle is looking more like 2013 than 2017 bullrun if we take into account what patterns is price following with some serious price dips esp. 60% in april 2013 compared to this one 50%. then we remember price started to climb from $140. this time we were at 30K. I believe we will see parabolic price move till the end of year instead of crypto winter following after 60K ATH was reached. Price didn't fall below 30K but is stable around 35-36K. History shows big move ahead is probable.
We really can't compare the state and the price that bitcoin is at today to the way things happened 7 years ago, the bitcoin now has more market cap has gain more popularty and thus there are a lot more things and events that effect the price, the current price drop comes from one china banning bitcoin mining and mjor companies like tesla investing and than pulling out from using bitcoin which built it up and cause its price to go up to 60k and than drop it down when they decided to stop. |
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The first time I came into contact with BTC, I felt that there was little difference between e-payment and BTC. However, with the gradual understanding, e-payment and BTC are becoming more and more different.
In essence, electronic payment is the circulation of legal currency in one or some countries, while BTC is the circulation all over the world（ If every country agrees)
The first time that i ken about bitcoin whas back in 2011 when i saw a report on the TV about a guy mining bitcoin and earning money from it, at first i didn't pay it any attention because i was young, but a couple of years later i came across it again when searching for a way to make moeny online, at first i thought it was complicated but after a while i learned the basics and quickly came to realize of how great and convenient using bitcoin is , and i still think about what would have happend if i invested in it earlier. |
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Bitcoin was never and will never be meant to be a currency that could be used as a major currency, and that is due to the fact that it is decentrelized and cannot be controlled by governmments even if they wanted to, and if you ask anyone who has been using bitcoin for some time the reason it was created you would know, if you look at the current state of any currency that is controlled by a government you would see that it went through a lot of manipulation and inflation and they keep on priniting more just because they can, which is why bitcoin is diffrent and can not be used as a major currency.
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It is true that there are a lot of alt coin out there that have been released that are are shit and they are just copy cats and money grabing scams, but you can't deny the fact that there are some few out there that are actualy trying to bring somthing new and have some good ideas, not to mention the fact that the more coins to exchnage there the more poeple would be trading them with bitcoin since its is the main one that they pair it with, and that is what is actually making the cryptocurrency market move and in my opinion i think it is making bitcoin more valuable.
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I think that this move from Paypal is just the same as any other company did , which is as soon as they caught wind of how much cryptocurrency became streamlined and popular they just jumped on the bandwagan just to capitalize on the profit that they can make from it considering how they are the most used payment platform in the world, i am not saying that it is a bad things, but from the prospective of somone who is using crypto for years i don't see a reason why i would use paypla to buy crypto than the other exchnage platforms that i have been using which are decentrelized and much more cheaper in terms of fees.
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