Factors affecting bitcoin business

[randegibran]

Of course, there.are many factors.that affect.bitcoin, one of which is a mixture.or statement of influential.people in a business.this impact will be quite significant.for example, such as the statement made by Elon Musk.in the last few.weeks, and we can see from the impact of the changes.that have occurred on bitcoin itself.And we can only hope that this statement will not

[Shenzou]

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 think that the factors that you mentioned affect all kind of businesses in general and not specifically to bitcoin or cryptocurrency businesses, in my opinion the legality of cryptocurrency is probably one of the most that affect these type of businesses, just like what is happening with a lot of places where they suddenly banned bitcoin, and the second factor probably is the volatility and the constantly changing price, because you have the person buying an item for 10 dollars and the next day the owner has 5.

[nhaila]

The main reason of Bitcoin affecting that governments denied crypto and it's application, sometimes central bank also denied crypto, ..some illegally obtained money laundering and criminals activities hampers Bitcoin and it's business badly.

[Smartvirus]

The 2 factors stated in OP are a lot broad and it's not something that is limited to bitcoin alone as it can affect every other business enterprise in a nation. Bitcoin or cryptocurrencies are not nation bound and as such, a different set of factors can affect it entirely.  No doubt the government is a leading force in this factor but change in government doesn't necessarily imply a negative or positive addition on the system.  At least, there could be stability in the bitcoin or cryptocurrency market structure even with the change in governance.

 Two factors that basically affects cryptos are:
1) Taxation: Government uses taxes as a measure to revenue generation and the smooth running of a state hence, it is a vital aspect of governance and with the fact that, bitcoin and cryptos can't be appropriately taxed, it becomes a problem to the government hence, they antagonise its truth and growth to avoid the problem. Sadly, that isn't solving the problem as it doesn't make it go away neither can you cover the truth for so long, it would always pop up in time.

2) It's exclusiveness to fiat: Government believs bitcoin is here to replace fiat looking at the fact that, they both operate on two different systems for which bitcoin is distinctive as it Is decentralized while fiat and government operates a centralized system. Hence, they don't go together as it is beyond government control hence, they dispute its ideology. Still, it doesn't make it go away, the limitations would stop when it will.

[ethereumhunter]

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 should not forget about the minor factors that can affect bitcoin, such as the news on the internet, because we already read about that a long time ago. And in a few months ago, we also read about the news and some of that news make the bitcoin price jump to the high price and suddenly, the price is down until the current price. But that does not stop bitcoin from increasing, especially when the adoption still continues because it can give bitcoin price to raise more.

[maisao1991]

If BTC is accepted for payment in many places, there are also banks where they are afraid that BTC is a danger like a large bubble of the market and at some point it will explode because of this. That is why many countries or banks are still very strict with accepting payments in BTC. This is probably a pretty big deal about BTC becoming a popular coin in the world.

[Kittygalore]

They're not the main factor for me, I think the volatility of the market is the biggest one because volatility has been on bitcoin for as long as it exists so I don't think that politics and government is the main factor, maybe if the instability in the region is deplorable and can be described as a clusterfuck then probably it is the politics and government is the main reason but that doesn't mean that it's the biggest factor for every region with a crypto business in it.

[Philipruch]

Foreign exchange could also affect the rise and fall of Bitcoin not only the government.

[AicecreaME]

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, but let me add and discuss more. Political factor really affects bitcoin businesses and even bitcoin in general. Politics play a great role in bitcoin legality in a country, hence when an adminstration changes, there's also a high possibility that the status of bitcoin legality will be compromised. Same applies with bitcoin business. When the government leader suddenly shifts, and the newly elected official don't like or sees threat on bitcoin or crypto in general, then the business operations will be halted for a period of time. It can even be banned, resulting to serious business damages and losses to the entrepreneurs.

Aside from political factors, technological difficulties can be also a huge problem when it comes to bitcoin businesses. Sudden power interruption, loss of connection, slow transaction time, high processing fees, and the likes could cause great trouble in bitcoin business. These could put the business at risk if ever it would occur most often than normal.

[sherryDEFI]

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.

I hold the same view as you. The change of government may introduce some unfavorable or favorable policies for Bitcoin, because every leader has a different attitude towards cryptocurrency, which also indirectly affects the price of Bitcoin. In some politically turbulent areas, their home country’s fiat currency is out of order, inflation is serious, or the US dollar is directly used as the country’s fiat currency. This is why El Salvador uses Bitcoin as its own country’s legal currency. In the hands of Bank of America, it is the best choice under current national conditions.

[Tessnik]

The government is the major constraint against bitcoin and its related businesses and until the government fine, a way to have full control of the digital currency space there will make no policy that will benefit bitcoin and the rest of other cryptocurrencies. I believe soon the government will realize how helpless they are concerning decentralized businesses most especially bitcoin.

[#dhabitamartha]

our fears and doubts about politics. The government has taken over the bitcoin regulatory policy that makes it easier to access transactions in bank support and bitcoin legality. This government is afraid of the safety of banks and payments of embezzled money and the risk of state finances.

[randegibran]

I think there.are a lot.of factors.that influence the fall of bitcoin, especially in addition to the many prohibitions from several countries that will more or less hinder the development of bitcoin price stability itself, plus public opinion which greatly influences its impact on bitcoin, we only I hope that a similar incident doesn't.happen again

[maxreish]

Still, I believe that there are major factors like Whales movement and investors holdings. Though government's say about bitcoin surely affect the price but the demand and supply can definitely make the market goes down or up in an instant.

Fuds has also a great contribution to the bitcoin's market and as I have noticed, if any news like country's implementation of ban for cryptocurrency, the price dumped after the announcement.

[LimLims]

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 guess you don’t know OP the fact that, BTC is decentralised that is, it’s can’t be controlled by any government.
So i guess these factors not at all affects the Business related to Bitcoins.
According to my perspective the real reason that affects the price of BTC is it’s price itself.
Due to uncertainty of the price and continuous changing of the value of the coin, many businesses are getting hampered.
That’s why till now many other businesses aren’t integrating BTC as a payment getaway too.

[Obito]

The major factors that you have listed affect almost any type of businesses, you don't see any Amazon warehouse in South Sudan right? The factor effect is generalized. What I think is a major factor is the adoption in the region because if no one is using bitcoin, what's the point of doing business there unless you are a big company that can sustain losses for months or even years to introduce the region to bitcoin then probably you can turn that lack of bitcoin adoption into a profit.

[imstillthebest]

The major factors that you have listed affect almost any type of businesses, you don't see any Amazon warehouse in South Sudan right? The factor effect is generalized. What I think is a major factor is the adoption in the region because if no one is using bitcoin, what's the point of doing business there unless you are a big company that can sustain losses for months or even years to introduce the region to bitcoin then probably you can turn that lack of bitcoin adoption into a profit.

this is why some are asking if which country is best for bitcoin startups or business to make sure that they wont waste their time , effort and money .
i dont think if theres still a country that didnt know bitcoin but even if there is some adoption in that place but the governance is poor and selfish , bitcoin would still be banned on that country .

[Obito]

~snip

this is why some are asking if which country is best for bitcoin startups or business to make sure that they wont waste their time , effort and money .
i dont think if theres still a country that didnt know bitcoin but even if there is some adoption in that place but the governance is poor and selfish , bitcoin would still be banned on that country .

That's easy to answer, the country that you want to cboose are those that have a stable social and political climate and the taxes aren't really high for start ups, take a look at Carribean countries, Scandinavian countries have higher taxes though but they are pretty stable, Central America still has problems with drugs and violence so they're not a good place for start ups.

[jrrsparkles]

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.

What you mean by bitcoin business?

Any business that accepts bitcoin as payment or crypto trading platforms and other sites like casinos, etc?

Only factor that is affecting on the both side is slow transaction processing and high transaction fee.

[michellee]

I think there.are a lot.of factors.that influence the fall of bitcoin, especially in addition to the many prohibitions from several countries that will more or less hinder the development of bitcoin price stability itself, plus public opinion which greatly influences its impact on bitcoin, we only I hope that a similar incident doesn't.happen again

The government can be one of the factors that influence bitcoin's fall, and we see that some countries already prohibit their people from using bitcoin. But that will not happen forever and as long as they can access the internet without a problem, they can invest in bitcoin. With all of those factors out there that impact the bitcoin price to go down, but you should remember that will only happen temporarily. It is better to calm down if you see the bad news and not do anything until the situation can back to normal.