Factors affecting bitcoin business

[tradewithus]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

[jackg]

So it's like most other things then?

People and companies are more likely to liquidate assets away from elections to try to keep everything stable. People buy when things fall but you don't want to sell then. Volatility in stocks seems to always increase a bit before an election too.

[avikz]

Hi op,

The two factors that you have included in your thread are affecting the businesses related to bitcoin or cryptocurrencies in general. Legality is definitely a big issue because whe anything is not made legal by the government, people are usually afraid to get their hands into it. That's the case with many businesses aroud cryptos.

But there are many technical factors as well like, slow transaction processing speed, high fees are also affecting bitcoin in a big way. That's why it is mostly considered as an asset rather than a currency. For transaction, many people including me prefer altcoins.

[randegibran]

Of course the factors that are influenced by certain parties are very influential in any form, especially with regard to a business, if there are parties that interfere this will greatly affect a stock, especially people who are very influential in a field. , such as an example of a statement made by Elon Musk.We all know how the impact on crypto and its price has fallen sharply in a very short time, this is something we must be aware of because it can happen in an unpredictable period of time,certain

[BitcoinBarrel]

Of course there is the issue of some companies not operating in crypto-currency space and you will have to accommodate other payment options.

[boyptc]

That's expected whenever a new country gets in with a surprising announcement of their stance towards bitcoin.

It's essential for them to change, remove or add some policies so that it's going to be favorable to them and to their people.

[NicNacCoin]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

Above-mentioned two factors that acutely hampers Bitcoin market/businesses but some another reasons also very bad effect on bitcoin market. Sometimes central bank also refuse Bitcoin, smaggling activities, money laundering, currency infusion that are the some reasons of Bitcoin market crashing.

[Nunoluck]

That's external factors are give big impact on bitcoin business. Regulations that ease the use of bitcoin among the citizens will boost the growth of bitcoin business. I hope government don't see bitcoin as a threat. Bitcoin is only a money. But I think all ban and all restrictions that government made for the use of bitcoin is only affecting for short term. Atleast that is what I know during years investing in bitcoin. So in my opinion government can't stop the growth of bitcoin business.

[arwin100]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

Well that's one of the issues but what I think the major factor is the price volatility and easily to be manipulated, government always look at that scenarios to make an impression of bitcoin so if the market always act like that then they will think that it's really not worth it to allow it to them since it's so risky for their people to dive in this option but if we can see some great changes in the system maybe we can see this allowed and also the business using it will boom to.

[cabron]

This is because BTC or cryptocurrency isn't very much accepted yet. We dump whenever there is a crackdown like what goes on today with Binance regulation in Canada, Japan, and UK. It's a relentless pattern to deal with when governments know the people are turning to Bitcoin. but once it becomes legal and accepted like regular cash, the problem that businesses will just have to deal with is the price adjustment to be automated and the future.

[Kez1817]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

The major factors to consider affecting bitcoin is the demand and supply where the value of bitcoins came from. Also another factor is the electricity and internet connection, because you can't use bitcoin and make transaction without electricity and internet. Then, next is the government who wants to ban or regulate bitcoin in order to control it.

[taufik123]

The major factors to consider affecting bitcoin is the demand and supply where the value of bitcoins came from. Also another factor is the electricity and internet connection, because you can't use bitcoin and make transaction without electricity and internet. Then, next is the government who wants to ban or regulate bitcoin in order to control it.

Talking about other factors such as the use of electricity, of course China's decision is the most fatal factor at this time, by boycotting miners in China and then expelling them. Their reason is that miners in China use too much electricity because mining bitcoins requires a lot of power. This decision is of course also based on changes to regulations in China which currently prohibit cryptocurrencies and political instability. There are many pros and cons to expulsion of miners in China, but the miners did not bother and began to spread in various countries that are better to serve as mining centers that use electricity generated from nature and are environmentally friendly.

[btc_angela]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

I agree with your first point, maybe you can add those government that doesn't want to give freedom to their people, like China.

However, the second part, is the opposite in my opinion, if there is political instability then people should really go to bitcoin and crypto to hedge their wealth. So before everything goes down and worsen or your local money devalued, it's better to put it to bitcoin.

[Yatsan]

Most likely, there are many contributing factors that become a hindrance why there is a disrupt or Bitcoin business cannot be establish into a certain place or country. Government issues became one of those factors that we commonly hear or read from news articles which is really relevant why it does affects Bitcoin businesses. Availability of resources like merchants and adaptability of people to cater services where Bitcoin usage is being offered is also some of the factors. Factors usually vary depending on where Bitcoin business is situated or being planned to be established

[TravelMug]

I thought that we are talking business here, title maybe a bit misleading, should be adoption or acceptance of country. But in any case, bitcoin is borderless, and I think once reason why government are against bitcoin is that bypass them, like what China view it, specially capital flight. So it's a big challenge for them, specially its decentralisation and (psuedo) anonymity.

So it really depends on the government itself, some even try to create their own crypto, CBCD just to cater the public's interest.

[clint25n]

there are so many factors that affect bitcoin, one of which is a statement from Elon Musk itself which resulted in its price dropping.in the global stock market.Inaddition, several government bans.in several countries will also greatly affect.the value of bitcoin itself.plus negative issue sagainst.bitcoin that have emerged.throughpublicopinion. maybe these are some of the factors.that influenced.the price fall to
itslowestpoint.in this era of digital currency being.formed,and we hope this is temporary and the price will be stable.as before

[tranthidung]

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

It can bring positive or negative impacts on Bitcoin, short term. Long term, the trend is bullish. Because the general trend of traditional economy and fiat currency is hyper inflation.

The problems belong to governments, their fiats, not Bitcoin.

Political instability - when political system in the country is not stable, everything will get down.

It's not true. Have you ever heard the story of hyper inflation in Venezuela and the sudden massive adoption on cryptocurrency?

• Venezuela to Sell Oil for Petro Cryptocurrency in 2019, Says Maduro. In 2018, eventually this attempt failed.
• Venezuelan Economist: Cryptocurrency Is ‘Good’ Money, Bolivars Are Not (in 2019)
• Venezuela’s Bitcoin Story Puts It in a Category of One (in 2020)

Financial and political crisis contributes to the top trading volume for Venezuela among other Latin-American nations on Localsbitcoin and Paxful.

• Check the overview for Latin-American nations
• Check the combined trading volume for Venezuela only

[bocyaj]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

You made some of the real factor. But lot of unknown factor in the market. They are holding, it's huge market deciding factor. People made huge holding during the bear market everytime. And it's important cause of the bull run after the huge bear run.It's market deciding factor.

[kryptqnick]

I think that if we're talking about adoption of cryptos as money, tranthidung is right that instability can push towards adoption. However, if we're talking about crypto-related businesses, I believe they prefer operating in economically, socially and politically stable environments. After all, you don't want your offices to be robbed or your employees to be arrested for some political reasons. Regulations are also important because if they're harsh, it's not a welcoming environment for businesses. Heavy taxes, licenses and bureaucracy can draw them away.

[worle1bm]

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

There are some other factors also which affect the Bitcoin like regulation of government giving status to bitcoin or not,mass adoption of Bitcoin as wholesale and retail investments, increase of demand and less liquidation or say shortage of btc in circulation which will boost the prices.Some other technical points are there so we can say there are majority of factors determining btc prices.Change in any of them can cause fluctuations in prices so you can mention some more in your list.