Important conditions for the progress of bitcoin

[whirlcoin]

2017 history cannot be repeated, green leaves will continue to turn yellow and fall out as long as 2019 branches will begin to break one by one and large trees will fall in winding storms, it is a picture of Bitcoin in recent months.

I see the balance of the price of bitcoin still far from expectations, because there are several important conditions to be met.

First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country. If the exchanger is still not regulated, the protocol is also vulnerable to cyber attacks. There is no standardization of fulfillment of feasibility, even though to guarantee consumer safety.

There needs to be cooperation from entrepreneurs to invest in buying Bitcoin with a large amount of scale to support rising price movements.

Let's support Bitcoin...

the improvement from the side of Bitcoin is also important whether it was not good also the conference will not be reduced by the people that's why we both will coming together and make the good currency investment for the future then the progress of Bitcoin will be easily been there with the help of paper to be successful.

[Finestream]

I think having bitcoin's own exchanger isn't the only way to support it. I believe that despite having the usual exchanges bitcoin would still strike the best value when the bull run comes. However, developing technology to make things better with bitcoin would be a great advantage.

Of course prices would pump so high once bull run comes.But it would be more favorable for bitcoin itself if we will have bitcoin exchanger which is supported by the government.People will become more interested to engage in bitcoin knowing its now becoming legal.The thoughts that bitcoin is just a scam will be no longer entertained because the government had legalized it already.

[Pattart]

Every day more than $ 15 million BTC is traded daily and we also see its important influence. When blockchain technology is used all over the world, you will find our crypto market more bustling and daily trading volumes can reach trillions of dollars.

if the market conditions want to continue to progress, we need to increase the volume on the market, we need more than $ 15 million in trade every day, that means we need mass adoption, if that happens the bitcoin progress will occur and market conditions will be very good

[Betwrong]

Yes, I agree with you that the next major bull run can be stronger than the previous one in 2017. I think so because such things happened to Bitcoin in the past, and not just once

I'm more pessimistic on this one

Let me explain. As I wrote in my previous post, we have only so many people on this planet and only so many got interested in Bitcoin so far (read, there is not much left to gain in this department). So if we ever going to see a bull run at least remotely comparable to the one we witnessed in 2017, it will be caused by the reasons not even remotely close to those which caused the monumental bull market that year. It might be a gradual adoption of Bitcoin for real use as a means of payment (even though altcoins fit this niche better), people moving from banks to Bitcoin as a store of value en masse, major fiat currencies biting the dust across the continents, etc, but we are unlikely to see again hype and frenzy of the kind we had seen in 2017

There are various estimations regarding how many Bitcoin users are there, and none of them can claim to be accurate one, considering the nature of this currency. However, we have a right to assume that the total number of Bitcoin users can't be greater than the number of Bitcoin wallets, which is 32 million currently. Now, the current world population is 7.7 billion, so we can see that less than 0.5% of the world population are using Bitcoin.

My point is, we don't need people moving to Bitcoin "en masse" to see a major bull run. Just 5% would be enough for that.

[Ailmand]

We can't conclude anything because the market and the movement of bitcoin is unstable and volatile. Bitcoin is always surprising and could surpass our expectations. Holders would always support bitcoin because it has passed all the tests of time and we got no reason to doubt about it. I believe that it couldn't repeat it's history because it could actually do more than what it did last bull run.

[deisik]

Yes, I agree with you that the next major bull run can be stronger than the previous one in 2017. I think so because such things happened to Bitcoin in the past, and not just once

I'm more pessimistic on this one

Let me explain. As I wrote in my previous post, we have only so many people on this planet and only so many got interested in Bitcoin so far (read, there is not much left to gain in this department). So if we ever going to see a bull run at least remotely comparable to the one we witnessed in 2017, it will be caused by the reasons not even remotely close to those which caused the monumental bull market that year. It might be a gradual adoption of Bitcoin for real use as a means of payment (even though altcoins fit this niche better), people moving from banks to Bitcoin as a store of value en masse, major fiat currencies biting the dust across the continents, etc, but we are unlikely to see again hype and frenzy of the kind we had seen in 2017

There are various estimations regarding how many Bitcoin users are there, and none of them can claim to be accurate one, considering the nature of this currency. However, we have a right to assume that the total number of Bitcoin users can't be greater than the number of Bitcoin wallets, which is 32 million currently. Now, the current world population is 7.7 billion, so we can see that less than 0.5% of the world population are using Bitcoin.

My point is, we don't need people moving to Bitcoin "en masse" to see a major bull run. Just 5% would be enough for that

Then it is a moot point really

If I was to follow your logic to its ultimate conclusion (you can call that climax, though anticlimax would fit better), I would say that for a bull run (i.e. to see the effects of a bull run), we don't need even 5% as only a couple of deep pockets would do just wonders in this regard provided they persist at it. But is this really what we are looking for or are we actually looking for real adoption, let me repeat, en masse?

It seems to me that many a little makes a mickle, and it would be a preferred way of development to see Bitcoin adopted by the mass public ("en masse") even if their contribution would be small on a per-capita basis, so to speak. In more mundane terms, we don't so much need deep pockets as regular Janes and Joes getting their feet wet with cryptocurrencies. And this is exactly where Bitcoin has been bitterly failing so far

[Betwrong]

~
If I was to follow your logic to its ultimate conclusion (you can call that climax, though anticlimax would fit better), I would say that for a bull run (i.e. to see the effects of a bull run), we don't need even 5% as only a couple of deep pockets would do just wonders in this regard provided they persist at it.

Those pockets must be very deep, I mean with billions of USD. I wouldn't mind of course, but in reality it's easier to imagine millions of regular folks buying $1,000 worth of BTC each, than a couple of billionaires buying Bitcoin with all the money they have.  

 But is this really what we are looking for or are we actually looking for real adoption, let me repeat, en masse?

It seems to me that many a little makes a mickle, and it would be a preferred way of development to see Bitcoin adopted by the mass public ("en masse") even if their contribution would be small on a per-capita basis, so to speak. In more mundane terms, we don't so much need deep pockets as regular Janes and Joes getting their feet wet with cryptocurrencies. And this is exactly where Bitcoin has been bitterly failing so far

I absolutely agree with you, the more adopters the better. I'm just saying that even 5% of the world population would be enough for another major bull run.

[Karmakid]

We can't conclude anything because the market and the movement of bitcoin is unstable and volatile. Bitcoin is always surprising and could surpass our expectations. Holders would always support bitcoin because it has passed all the tests of time and we got no reason to doubt about it. I believe that it couldn't repeat it's history because it could actually do more than what it did last bull run.

I am also bullish with bitcoin and I also believed that it can do better from the last all time high. One of the important conditions for the progress of bitcoin to be stable is to have no manipulators in the market because it is one of the contributors of massive price movement which is not an organic growth for a solid investment.

[deisik]

~
If I was to follow your logic to its ultimate conclusion (you can call that climax, though anticlimax would fit better), I would say that for a bull run (i.e. to see the effects of a bull run), we don't need even 5% as only a couple of deep pockets would do just wonders in this regard provided they persist at it.

Those pockets must be very deep, I mean with billions of USD. I wouldn't mind of course, but in reality it's easier to imagine millions of regular folks buying $1,000 worth of BTC each, than a couple of billionaires buying Bitcoin with all the money they have

Well, that claim needs a thorough check

Really, if it took Bitfinex only 2 billion tethers to drive the prices up to 20k, a couple of billionaires could easily move the price up a few thousand dollars (which could count as a good bull run) without making a substantial dent in their wealth figures. In fact, we don't and can't know for certain how much is actually needed to change the price for, say, 1 dollar at any given price (only in hindsight). And the amount required may well be below what we would assume otherwise

But is this really what we are looking for or are we actually looking for real adoption, let me repeat, en masse?

It seems to me that many a little makes a mickle, and it would be a preferred way of development to see Bitcoin adopted by the mass public ("en masse") even if their contribution would be small on a per-capita basis, so to speak. In more mundane terms, we don't so much need deep pockets as regular Janes and Joes getting their feet wet with cryptocurrencies. And this is exactly where Bitcoin has been bitterly failing so far

I absolutely agree with you, the more adopters the better. I'm just saying that even 5% of the world population would be enough for another major bull run

Okay then. Though I wouldn't call that a bull run as mass adoption doesn't necessarily mean higher prices (at least not in the sense a bull run suggests). If you ask me, more adoption would most certainly mean more stable prices, not them skyrocketing in a short while (though it remains to be seen)

[Vaculin]

We can't conclude anything because the market and the movement of bitcoin is unstable and volatile. Bitcoin is always surprising and could surpass our expectations. Holders would always support bitcoin because it has passed all the tests of time and we got no reason to doubt about it. I believe that it couldn't repeat it's history because it could actually do more than what it did last bull run.

I am also bullish with bitcoin and I also believed that it can do better from the last all time high. One of the important conditions for the progress of bitcoin to be stable is to have no manipulators in the market because it is one of the contributors of massive price movement which is not an organic growth for a solid investment.

Yes. This year may not be totally the same with 2017 bullish market but i think this year will really have a blast more than what 2017 had shown. In order to make bitcoin a very progressive one, investors should not easily believe in FUDS or hypes that will just make them deceived. They should be more knowledgeable and even resourceful so that they can still make things work out even if sudden sideways appear in the market.

[Horas1976]

We will see that bitcoin will have good and important conditions to continue to follow. The development of bitcoin is highly anticipated and has a community that will maintain its existence. Optimism from the community will make bitcoin more valuable.

[Sahyadri]

2017 history cannot be repeated, green leaves will continue to turn yellow and fall out as long as 2019 branches will begin to break one by one and large trees will fall in winding storms, it is a picture of Bitcoin in recent months.

I see the balance of the price of bitcoin still far from expectations, because there are several important conditions to be met.

First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country. If the exchanger is still not regulated, the protocol is also vulnerable to cyber attacks. There is no standardization of fulfillment of feasibility, even though to guarantee consumer safety.

There needs to be cooperation from entrepreneurs to invest in buying Bitcoin with a large amount of scale to support rising price movements.

Let's support Bitcoin...

Bitcoin is already well known across the globe now and it has already reach the optimum level of $20k and have the potential to reach that point once again.Only new investors have taken out their money and soon they will invest in when prices start to skyrocket once more.

[Betwrong]

~ Though I wouldn't call that a bull run as mass adoption doesn't necessarily means higher prices (at least not in the sense a bull run suggests). If you ask me, more adoption would most certainly mean more stable prices, not them skyrocketing in a short while (though it remains to be seen)

The more people are using Bitcoin the more stable its price, that's for certain. However, in the beginning of mass adoption the price will be rising until the influx is decreased almost completely. After that the price is going to be more stable than it has ever been because the whales (if any of them will remain by that time) will be unable to manipulate the market to an extent they could before the mass adoption.

[senne]

2017 history cannot be repeated, green leaves will continue to turn yellow and fall out as long as 2019 branches will begin to break one by one and large trees will fall in winding storms, it is a picture of Bitcoin in recent months.

I see the balance of the price of bitcoin still far from expectations, because there are several important conditions to be met.

First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country. If the exchanger is still not regulated, the protocol is also vulnerable to cyber attacks. There is no standardization of fulfillment of feasibility, even though to guarantee consumer safety.

There needs to be cooperation from entrepreneurs to invest in buying Bitcoin with a large amount of scale to support rising price movements.

Let's support Bitcoin...

I strictly don't believe in the line that 2017 will not repeat. Have you studied btc charts? Look at the drop in 2013 and 2015. Many people left crypto because of those dumps. Same did happen in 2018. Bitcoin has relatively low volume than many of the financial assets. These extensive corrections are needed for the organic growth. 2017 price pump was manipulated indeed. But we can pretty much reach that price point and even more organically. The supply is limited to 21 million and it's nothing as compared to population we are targeting.

[deisik]

The more people are using Bitcoin the more stable its price, that's for certain. However, in the beginning of mass adoption the price will be rising until the influx is decreased almost completely. After that the price is going to be more stable than it has ever been because the whales (if any of them will remain by that time) will be unable to manipulate the market to an extent they could before the mass adoption

But there's another pitfall

If mass adoption is followed by a substantial rise in prices (technically, it holds true even if the price remains the same but to a lesser degree in the latter case), which is a plausible assumption in itself, it should at least theoretically lead to higher volatility as market supply remains the same (actually, it should even diminish due to expansion in adoption) and thus less amount of money is required to change the price in either direction. In other words, there will be more and more "whales" sticking around orderbooks as the price keeps on rising

[metalglowd]

-snip-
First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country.
-snip-

First of all, we do not need regulation for bitcoin/cryptocurrencies to be recognized. Regulation would just bring more chaos to the current system. It will some what end up making the currency more centralized system. Although, a light and not so strict regulation might do good.
You second point is also a bit problematic. We do not want the government to be involved in these kind of system.

Previously I also thought about the same thing, but if we look again for the future, this regulation will actually have many benefits, especially if we are dealing with political / governmental matters.
if we allow without regulation, the government will instead choose to ban rather than just let it. I'm also not sure if they will allow crypto to just let it go without them taking any advantages from us

[0t3p0t]

2017 history cannot be repeated, green leaves will continue to turn yellow and fall out as long as 2019 branches will begin to break one by one and large trees will fall in winding storms, it is a picture of Bitcoin in recent months.

I see the balance of the price of bitcoin still far from expectations, because there are several important conditions to be met.

First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country. If the exchanger is still not regulated, the protocol is also vulnerable to cyber attacks. There is no standardization of fulfillment of feasibility, even though to guarantee consumer safety.

There needs to be cooperation from entrepreneurs to invest in buying Bitcoin with a large amount of scale to support rising price movements.

Let's support Bitcoin...

The point of Bitcoin is that it doesn't need to be recognized by anyone and the only regulation is the rules within the code. If it was any other way, it's value would be 0. Thankfully it isn't the case.

Of course having governments on your side makes it a smooth ride compared to having them trying to destroy you 24/7, but due game theory this will always be the case. Some governments will benefit from being Bitcoin friendly and others will benefit from trying to get rid of it. In my book the net result is that Bitcoin friendly governments will benefit the most long term since the rich bitcoiners will pay taxes there to buy properties specially in 10 years when current holders are rich as f*ck. Also govs themselves will benefit by having Bitcoin reserves.

I agree. Here in my country local exchanges are regulated by the central bank and that is where government and Bitcoin enthusiasts  benefit. This is actually an advantage to both government and enthusiasts unlike any other countries that prohibit the activities related to cryptocurrency. I know that Bitcoin will still be great in the future due to increasing adoption and support from the people whether they get in because of investment or as currency.

[nur rochid]

2017 history cannot be repeated, green leaves will continue to turn yellow and fall out as long as 2019 branches will begin to break one by one and large trees will fall in winding storms, it is a picture of Bitcoin in recent months.

I see the balance of the price of bitcoin still far from expectations, because there are several important conditions to be met.

First, of course, the recognition of bitcoin through regulation, so clearly the digital currency can be used as a payment tool for certain posts.

The second is from the crypto market side, there must be an official exchanger and be recognized by the government of each country. If the exchanger is still not regulated, the protocol is also vulnerable to cyber attacks. There is no standardization of fulfillment of feasibility, even though to guarantee consumer safety.

There needs to be cooperation from entrepreneurs to invest in buying Bitcoin with a large amount of scale to support rising price movements.

Let's support Bitcoin...

The point of Bitcoin is that it doesn't need to be recognized by anyone and the only regulation is the rules within the code. If it was any other way, it's value would be 0. Thankfully it isn't the case.

Of course having governments on your side makes it a smooth ride compared to having them trying to destroy you 24/7, but due game theory this will always be the case. Some governments will benefit from being Bitcoin friendly and others will benefit from trying to get rid of it. In my book the net result is that Bitcoin friendly governments will benefit the most long term since the rich bitcoiners will pay taxes there to buy properties specially in 10 years when current holders are rich as f*ck. Also govs themselves will benefit by having Bitcoin reserves.

I agree. Here in my country local exchanges are regulated by the central bank and that is where government and Bitcoin enthusiasts  benefit. This is actually an advantage to both government and enthusiasts unlike any other countries that prohibit the activities related to cryptocurrency. I know that Bitcoin will still be great in the future due to increasing adoption and support from the people whether they get in because of investment or as currency.

it's very fortunate that you live in that country. bitcoin is currently still suitable for investment. moreover welcoming the mass adoption that will occur, will certainly affect price increases, plus real support from the government

[Choyor]

We only need to attract people to buy, because as we know that the positive movement of the market is influenced by the number of requests and if the demand decreases that means the market situation will decrease so that it also affects the value of Bitcoin.

[GregH37]

Bitcoin is already well known across the globe now and it has already reach the optimum level of $20k and have the potential to reach that point once again.Only new investors have taken out their money and soon they will invest in when prices start to skyrocket once more.

The knowledge of Bitcoin is still far from being known, the increase you witnessed then was caused by some group of whales and out of FOMO, few people with money that needs to be multiplied are the ones that pushed the price further, in order to benefit from it and sell off.

The natural way we can experience growth of BTC price to its ATH I when we have more people adopt BTC and keeps bringing in their money, if what we are expecting to push BTC up was based on the past money gotten by some investors, they I think we still have long way to go, because virtually those investors have spent the money.

We still need to do more work and start creating awareness, instead of just assuming that the whole globe already knows about BTC.