Some people are asking, "How can Bitcoin helps the world's economic?"

I think this is the right answer. Bitcoin has become a currency for a nation that is currently supporting all kinds of people. Bitcoin has become as an international currency at this point. Once again, technologies help the world to solve its problems. This can raise Bitcoin reputation among economic discussions. And also will give positive mood to Bitcoin markets.

The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.

Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

My father is anxious pertaining to the fall and rise in bitcoin price. He has four(4) btc and he is afraid to hodl. He wants to sell at a lower rate. Any advice for him?

There is good news to customers in the Baltic nations of #Latvia, #Estonia and #Lithuania,as #Samsung (one of the largest technology company in the world) has annouced to accept crypto and blockchain payments in the region using the Lithuanian-based payment platform, CopPay
I hope more major platform continue to accept digital currency payment.

Knowing the crypto world was the best thing I have ever done. Today I was given an amount of $20000 by my uncle to make an investment for him at the bank so that by the end of the year he can get some additional money added to his capital. I sat down and calculated and found out that, investing at the bank will give him just $2000 interest.

I then called him and explain to him about cryptocurrency and how secured it is with evidences and it price increment for last year. After seeing it he told me to invest that amount into BITCOIN and I have done it for him. I know that is volatile and can fluctuate but I made time to explain to him that although the market is red now but when the green days come he will get not less thank $25000 added to his capital. I know I did the right thing and he will surely laugh some days to come. What do you think guys?    

So we all know BTC drops when people sell their coins... but the peaking is purely because of investments...

The mall in S.Korea that started accepting BTC as of this month played a massive roll in BTC's growth. Obviously this is because BTC's awareness is growing!

Surely there are ways to bring the awareness of cryto to the population.

Are there any other 'blow ups' of crypto that you have heard of? Similar to the mall...
What are you doing to spread the awareness?

The future of virtual currency is guaranteed good andwill continue to give bitcoin holders a good life anda secured future . We dont really need to worry about bitcoin and virtual currencies in the futue becaue it gives usa positive outcome in life .

You touched upon a very interesting topic. I am also convinced that there are a lot of altcoins, which do not have a special role in the crypto community. We need a regulatory body that will fix all the coins and prevent fraudulent activities. I hope that soon this situation will become clear and the strongest will survive.

People sometimes don't know the truth and don't have the knowledge to see it. If you want to speak about something you must know it about 99%.

I completely agree with your opinion but there are something which is considered beside this point. the government couldn't handle all of the transaction which criminals use it for illegal activities. Crypto currencies are kept by the people around the world so this value of the currency would not be stable. the banking system will be damaged due to the free fee convert currency in the globe through crypto currencies.

Governments won't move to using cryptocurrencies. But it is still possible that people will move to using cryptocurrencies and fiat will just have a role in taxation and other government aspects. That is still a long, long time away,in my opinion.

Precisely. Where it goes next is in the hands of the people who use it. I think that the speculative bubble made it an attractive investment for most people (for a certain amount of time) but now that things have settled a bit, and the dust has cleared, we're starting to see that it has more potential than just a speculative roller-coaster. I try to use it myself for daily payments, and I hope others do too, so it can gain trust as a method of exchange. People are still uncertain but we should just keep using it safely to build up confidence.

Bitcoin was the first to overcome the problems of centralization. Earlier forms of currency had used a centralised checking system much like banks in order to verify transactions and over come the double spend issue. However centralization within digital currency exposes the currency to attacks from hackers, and make it reliant upon its parent company.

he possibilities for a decentralised currency are many. At Bitspark we utilize blockchain technology to provide faster and cheaper remittances in fiat. Providing these currency services has already widened the renown of Bitcoin, exemplifying how useful crypto can be.

https://steemit.com/bitspark/@bitspark/why-is-bitcoin-making-the-world-go-crazy

LOL, if price goes back to $20k and breaks it by the end of the year i assure you that $60k is going to be nothing. it will be reached within days of $20k fast and easy.

the problem is such rise won't happen in first place. the rise back to $20k will be a slow one then it will speed up. something like last time. price reached $1k slowly then speed up and suddenly exploded

In addition, the price of cryptocurrency is volatile, sometimes unpredictable. But if you are afraid of the risk then we will not be able to take advantage of opportunities well. There are many ways to reduce the impact of those risks. One of them is by studying the technique of market analysis.

Faith is a beautiful feeling, but it leads to wrong conclusions long term. Nothing lasts forever in this world and everything gets outdated sooner or later and gets replaced some something else. That has been the history of the world in the past billions of years, a true law of the Unoverse,  and it won't change because of Bitcoin .

Bitcoin is completely capable of becoming a currency used popularly in most  parts of the world. Always, the price and value of bitcoin are much higher than any other coins. You know, most of people here and there who joined in this environment, has gained the benefit from bitcoin and many more coins. This digital currency, appeared 9 years ago, we thus has no doubt that it will have a bright future. Nothing can stop me believing that bitcoin can used for payment widely. If you keep doubting about bitcoin , it's purely the reason prevent bitcoin from getting accepted.

BTC is certainly a DAD to ETH and other alts but it definitely isn't DEAD.