Strength of Bitcoin

[Tungsten-1]

Amazon already accepted bitcoin once,

as far as i am aware, Amazon has never accepted bitcoin.
there are tons of third parties that you can go through to buy from Amazon if you could trust them but that has nothing to do with the company itself!

I mean yeah surely after bitcoin dropped like crazy they started to think it may not be a great idea and they removed it

wrong.
steam which is the only correct one in your comment removed bitcoin when the price was rising back in 2017 and they removed it because the fees were unreasonably high. mainly because the games they sell usually worth less than the fees at that time!

But no matter who not adopted it and who removed it. With the upcoming development for the processing of bitcoin we all are sure that they all will start accepting bitcoin for their services. As we know the bakkt will be started in the coming weeks which will be a great platform for these institutions to adopt bitcoin because it will solve the question of security.

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[STT]

We are ascending from support right now but I'm looking to the range and reaction to moving averages.   Here is my view in brief



Potential is 12k but I think we are declining below myself

[BitHodler]

Potential is 12k but I think we are declining below myself

How did you come up with that number? If the potential would be $12k, that would mean a break of the descending triangle, and the potential based on that event is a retest of the current yearly high of just under $14k.

I strongly believe that there is too much resistance to break up. If we purely follow the technicals, and the similarities of how markets peak out, it makes me quite bearish and expect $8k and potentially lower levels.

The volumes are awful. The demand to buy into something so speculative when it doesn't go up or moves sideways is very low. I expect investors to wait for a break before they come to action.

[bitgolden]

Amazon already accepted bitcoin once,

as far as i am aware, Amazon has never accepted bitcoin.
there are tons of third parties that you can go through to buy from Amazon if you could trust them but that has nothing to do with the company itself!

No amazon itself did accepted bitcoin during the 2017, it wasn't for too long but you could literally buy stuff from amazon with bitcoin (they used something like coinbase or bitpay and what not which redirects you to a QR code and a btc address to pay for it). However it was literally amazon, it wasn't a third party app or it wasn't some chrome extension type of deal, it was amazing itself that had credit card, debit card, other stuff and bitcoin as an option.

Of course, bitcoin went down a lot and they stopped using it but until that moment they were actually allowing people to pay for it. We need more that sort of things in our life, I personally want sony to accept my payments in bitcoin for the games I buy, I mean its not a lot of games (same goes for steam) but it would make things a lot easier.

[danherbias07]

I dont think I need to read it.
I have seen the ups and down and I do think its strength still wins the game.
Just looking at where it is now makes me regret the decisions I made before.
I just really hoped I didnt sell some of it. But I am still hoping for the best from where I stand now and adding more.

[beerlover]

It is really a big deal to have those companies on our side though, like we really have to make a big difference in order to actually take a deep dive into global adoption, unless we get those online places we won't start doing it. You may have hard time convincing regular shops to start accepting bitcoin, there are a few but globally it is not even 1% yet, it is probably not even 0.1% yet so it is not an easy task.

However, if you convince places like say amazon, ebay, steam, and many more other places that are basically fully online to start accepting bitcoin then you may have a chance at becoming really really big. Adoption rate would go up in the sky, when those big places accept then smaller online places will as well, then you will end up having like bitcoin as a standard online payment option.

[Distinctin]

I dont think I need to read it.
I have seen the ups and down and I do think its strength still wins the game.
Just looking at where it is now makes me regret the decisions I made before.
I just really hoped I didnt sell some of it. But I am still hoping for the best from where I stand now and adding more.

I do not yet see the high price of Bitcoin (20,000 dollars +), when Altcoins are in such a price abyss. Altcons market should be estimated at a capitalization of at least 400 billion dollars.

It badly we can't see Bitcoin ATH at this time, the market is still not fully recover and even get harder than of before and its volatility remains at high.
We are closely moving into the start of the 4th quarter but the market still calm and there is no signs of big days coming. I make to speculate that 2019 isn't a great year for crypto. How we missed 2017 but it seems to be an impossible thing to happen again. Well, it only is glad that BTC price reaches at $10k, not really bad compared to what it happens last year.

[STT]

How did you come up with that number? If the potential would be $12k, that would mean a break of the descending triangle, and the potential based on that event is a retest of the current yearly high of just under $14k.

The market is always trying to trick me so Ive basically learnt to wait for confirmation of a move.    We can and do get spikes up and down which do not hold that level, the price can move in one market or one timezone but fail to hold under the strain of new sellers or new buyers at that price.   So we get a price short term that is not reliable and will not lead to a break of the chart pattern like a triangle.   I do find this with BTC especially, other markets I trade are more definite but BTC I find has many bluff fakes before it finally moves properly.  

[Heimer]

The fortitude of Bitcoin will always depend of the people and its users. No matter how good the article might see the future of Bitcoin but without the actual support needed from the users then still it might become weak. We are the pillars of Bitcoin to make it strong.

Well, adoption is starting to look pretty good at this moment - there are many businesses which are accepting BTC and other major cryptos and in many countries you can use bitcoin ATMs to buy or sell crypto without intermediaries 

[TriplexXx]

The major difference between bitcoin and fiat currency is decentralization. Fiat money is issued and controlled by the government while the bitcoin is fully decentralized, free from government control.

[Hippocrypto]

The fortitude of Bitcoin will always depend of the people and its users. No matter how good the article might see the future of Bitcoin but without the actual support needed from the users then still it might become weak. We are the pillars of Bitcoin to make it strong.

Well, adoption is starting to look pretty good at this moment - there are many businesses which are accepting BTC and other major cryptos and in many countries you can use bitcoin ATMs to buy or sell crypto without intermediaries  

The majority of businesses that accepts bitcoin as their basic mode of payment, continued to implement their systematic approach towards it's community. Having an ATM wordwide brings a lot positive and outstanding impact on the demand. Adoption will grow higher so possible price increase will happen eventually. Other countries will also gain confidence on cryptocurrency advantages provide their people more comfort towards every opportunity.

[peter0425]

Well I think the article show cases the strength of bitcoin over fiat currency very well.

Yeah but what about against other crypto?but the article is worth reading and very positive for bitcoin holders like us,thanks for sharing OP

The major difference between bitcoin and fiat currency is decentralization. Fiat money is issued and controlled by the government while the bitcoin is fully decentralized, free from government control.

And that same reason why governments are holding the fact that crypto is helpful but they hinder the adoption because not like fiat the have full control while in crypto they dont(but there are some centralized as well that they can hold in necks)

[BitHodler]

And that same reason why governments are holding the fact that crypto is helpful but they hinder the adoption because not like fiat the have full control while in crypto they dont(but there are some centralized as well that they can hold in necks)

I don't think they necessarily hinder crypto adoption. People tend to overestimate how much demand there is for actual use of crypto, while in reality not many people actually need it as alternative payment tool.

Most people are here solely for the price action, which is why there only seems to be interest in crypto as long as the price goes up.... just wait for one or even two years of sideways price action, I'm sure people will get bored and leave.

The financial system in most developed countries is actually pretty solid in terms of convenience and usability. Who's going to censor your grocery payments? I personally never had any problems at all.

[fullhdpixel]

The major difference between bitcoin and fiat currency is decentralization. Fiat money is issued and controlled by the government while the bitcoin is fully decentralized, free from government control.

And that same reason why governments are holding the fact that crypto is helpful but they hinder the adoption because not like fiat the have full control while in crypto they dont(but there are some centralized as well that they can hold in necks)

The basic reason why government are still so skeptical about cryptocurrency and may never go against it fully is because it has lifted lots of burden away from them, people now see cryptocurrency as something that could create job for them which indeed created job for a lot of people and you cannot imagine the amount of burden that this has taken away from the government and through this also, government is still able to generate more revenue through tax on trades via cryptocurrency.

Government would rather just prefer to accept it that way than to accept it as currency which is why they don't want to give in to regulation yet because once they do, it will send a strong signal that it has been accepted by them as currency of the world which they don’t want any system that they cannot control.

[Naida_BR]

The most incredible feature is that is is immutable to inflation.
This way you don't lose value of your money overtime, but on the other hand you gain value due to halving events.
Many people do not realize it but after being involved in the ecosystem it is an apparent feature.

[wxa7115]

And that same reason why governments are holding the fact that crypto is helpful but they hinder the adoption because not like fiat the have full control while in crypto they dont(but there are some centralized as well that they can hold in necks)

I don't think they necessarily hinder crypto adoption. People tend to overestimate how much demand there is for actual use of crypto, while in reality not many people actually need it as alternative payment tool.

Most people are here solely for the price action, which is why there only seems to be interest in crypto as long as the price goes up.... just wait for one or even two years of sideways price action, I'm sure people will get bored and leave.

The financial system in most developed countries is actually pretty solid in terms of convenience and usability. Who's going to censor your grocery payments? I personally never had any problems at all.

I think this way as well, governments are not really doing much to slow down adoption because as long as the system they have implemented keeps working most people do not see the need to use cryptocurrencies, in fact I have been asked that very same question by the few people that know that I like cryptocurrencies, they do not get why we need a currency that is not printed by the governments.

And the only way they will understand is when the system they think is infallible fails them and they need to find other options to preserve their wealth, but at that time it will be too late to save themselves from the failure of the current economic system.

[mithun303]

Bitcoin is one of the two group, One of the giver and other is the receiver. Apart from these two, curry is banned from Bitcoin transaction. There is no third party, So Bitcoin becomes a tax free currency. Price are fixed by the recipient no company and government fixes the price even if the economy crashes.Bitcoin is fine and the biggest thing is that the popularity of Bitcoin ha skyrocketed inn the last few years.

[diazepam666]

Bitcoin is a decentralized cryptocurrency so it was the main strength of crypto platform. Mainly all the altcoins are comes in Bitcoin way so peoples are always trust the Bitcoin. Nowadays Bitcoin is accepting the many countries and similarly many countries are plan to accept the Bitcoin so peoples are interested to invest the Bitcoin investment. I think current strength of Bitcoin is a demand and investors so it will always rule the crypto platform.

[kesmex]

Bitcoin is a decentralized cryptocurrency so it was the main strength of crypto platform. Mainly all the altcoins are comes in Bitcoin way so peoples are always trust the Bitcoin. Nowadays Bitcoin is accepting the many countries and similarly many countries are plan to accept the Bitcoin so peoples are interested to invest the Bitcoin investment. I think current strength of Bitcoin is a demand and investors so it will always rule the crypto platform.

there are still many countries that have not yet accepted Bitcoin, which accepts Bitcoin at this time is only a non-government institution,
and in my opinion Bitcoin is a threat to the government

[Chrystora123]

Nowadays Bitcoin is accepting the many countries and similarly many countries are plan to accept the Bitcoin so peoples are interested to invest the Bitcoin investment.

Bitcoin is now accepted in many countries not as a transaction tool but as an investment asset..

I think current strength of Bitcoin is a demand and investors so it will always rule the crypto platform.

this is one of the weaknesses of the decentralized coin I think, that is "the strength of demand", the whales have a great opportunity to manipulate the market..

there are still many countries that have not yet accepted Bitcoin, which accepts Bitcoin at this time is only a non-government institution,
and in my opinion Bitcoin is a threat to the government

Bitcoin will be pros and cons in many countries..  of course, that's because it cannot be controlled..