Economists advise caution in trading in Bitcoin currency

[yhiaali3]

Yes, you must be careful when trading in Bitcoin because trading is very high risk for people who do not have sufficient experience in trading, but investing in Bitcoin in the long term is very safe, and it is also very profitable.

Not only the Bangladesh Bank, but all banks warn against investing in Bitcoin. You should not take banks’ warnings seriously, because banks are centralized and hate everything decentralized. Bitcoin is completely against banks, so you will not find any bank that encourages you to invest in Bitcoin.

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[hyudien]

Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

Their job is to scare us, but my life and my entire economy do not depend on them. Every decision is my right and control. They don't want us to achieve true freedom, which is why government economists keep advising the public not to touch Bitcoin, and stick to fiat and controlled assets. Once again their methods no longer have any effect at this point. People already know how to invest, know the risks and don't care as long as economists don't demand everything they need.

So do you still want to say be careful even though we already know the depravity they have committed all this time? it seems like they don't want us to be rich

[Darker45]

First, here's a real life analogy. Just days ago, there was a nationwide transport strike here conducted by jeepney operators and drivers. The main reason is the transport modernization plan of the government in which the franchise of these old jeepneys shall not be renewed. They disagreed, of course.

This is basically what it's all about. My country's central bank governor has the same sentiment about Bitcoin. He labels it as something based on the greater fool theory. But are we going to ask the opinion of a central bank governor about Bitcoin? Surely, we won't ask the opinion of the printing press about online newspapers, publications, eBooks, and the like, just as we don't ask the opinion of a traditional rickshaw operator on taxicabs.

[ultrloa]

Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

Their job is to scare us, but my life and my entire economy do not depend on them. Every decision is my right and control. They don't want us to achieve true freedom, which is why government economists keep advising the public not to touch Bitcoin, and stick to fiat and controlled assets. Once again their methods no longer have any effect at this point. People already know how to invest, know the risks and don't care as long as economists don't demand everything they need.

So do you still want to say be careful even though we already know the depravity they have committed all this time? it seems like they don't want us to be rich

That's what they want people to feel since they always like those people to invest on stock market so that it can gather more huge cashflow and that could give them huge benefits. The only thing we can do for that is to ignore and do some research since if we let ourselves  being unaware about their methods done and always listen to them then we might be a easy target for manipulating. People on crypto know what they are dealing and for sure majority is already preferred on worst or good condition since they experience to go to that process.

I may still be more careful but I don't let any opinion coming from different or random people to disturb on what I currently doing. We must do a research so that don't became a easy target for them.

[mindrust]

Good old price drop FUD. “What if everybody withdraws their money? What if the prices drop?” Don’t they ever get bored? Like this hasn’t happened before? Btc prices fell down by 80% many times in the past. Did bitcoin die? No. What makes these bozos think next time will be different? It won’t. Prices will go up and then down and then up… That’s how free markets work. Look at the price of gold, it can’t move either way. This shit is boring. Hopefully bitcoin will never be like gold.

[icalical]

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

Not only in Bangladesh, in most countries around the world, Bank discourage people to put their money on Bitcoin because their business rely on the local fiat value, and local economic growth. Bank will encourage people to invest in local stock market and other conventional investment, to maintain their local economy so Bank can keep their business grow,

[EarnOnVictor]

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

We have been hearing things like this for a long time but Bitcoin remains and is even getting stronger and has gathered increased trust from people. As an economist myself, I wouldn't say that Bitcoin is not without its own risks as it's being sustained by people's money, yet, life itself is risky, there's nothing that we commit our money to earn us more money that is not risky. Even to keep money in a fiat bank is risky, and the more your risk, the more money you might gain from it.

Specifically, the main cause of fear among economists is that Bitcoin is not backed by anything and there is no assurance that could guarantee the deposit of people. I'm afraid, I share their view in this regard because if anything bad starts happening, there will be panic withdrawal of money and it will get to the extent that the money will not be able to be withdrawn anymore and it might be gone forever if there's nothing backing it up, not even a legal agreement.

Still, stocks and shares that we buy to keep are not so much different from this. As Bitcoin is being sustained by people's money, such as stocks/shares are being sustained by it too. And the risk in Bitcoin is being reduced daily as the market gets more liquidity and I don't see any foreseeable collapse of the coin in decades.

[justdimin]

Why do economists advise to be careful when trading Bitcoin currency because there are many mistakes made by beginners, especially if they are advanced, perhaps economists will say that BTC is one of the keys to success, at least Bitcoin fulfills five of the seven requirements as money and enters the good category. money.

Currently, there are still many who do not agree with BTC with various arguments. Bitcoin's value remains as long as users believe in using it and accept it as a means of payment even though the price is very fluctuating.

There are more reasons than it. We know them. They have a history of discrediting BTC in the past. So I think the hate is still there. If in case their concerns are now genuine, then thank you. It is only normal for a beginner to be like that, but the harder they fall, the more they become stronger as well. If they are now advanced, mistakes will now be minimized.

Success can be achieved in so many ways but if our definition of it is about being rich, then yeah, BTC is a good component of it. We shouldn't mind those who are not into BTC. They can only regret later on, and they can also decide to join here. BTC is volatile but it is not a disadvantage. This is why we are still here.

[harapan]

➤ How safe are Bitcoin transactions?

Bitcoin transactions are safe if you ask me.  All you got to do is pay attention to your security as you would when doing any other transactions and you'll be good. To be honest, the advice seems very vague. I don't need to be an economist to tell traders to apply caution while trading. So what advice exactly are they giving that we don't already know?

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He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

So what is worth investing in? Stocks do not crash? The real estate market has literally crashed before causing so many problems in the economy, so if that's their lame excuse they should try again.
A central bank advising against crypto? It's nothing new. Was anybody expecting a different advice from them?

I would advise that in cases like these, you should include the name or names of the economist(s) or the link to the article so we can read the whole thing.

[DVlog]

He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

I don't care about what some brainless fellow said. By mentioning authorized currency he means it is not legal in the country which is true but this is the power of bitcoin where you can evade any ban from any jurisdiction. This is the freedom bitcoin can provide which other asset can not. There is no way to know the origin of a bitcoin owner and where he is sending or receiving it. This they can not control and that is why they are trying to defame it only by mentioning the negative side of bitcoin.

To control the people they need to control the people's financial abilities. If mass adoption of bitcoin happens throughout the region then they will not be able to collect their illogical tax from their people. In bangladesh banks is paying a lower price for dollars than in the open market for remittances. If people start using bitcoin or other crypto for cross border payments their will be no profit from the banking sector. They will not be able to determine the price per dollar they want. They want total control and bitcoin is a threat to them.

[Broly46]

Economist the control freak are cautiously advise you to not invest the btc, because they can not control the btc easily, they tell you must invest in stock such as GME which they have total control on the investment, you don't remember how the last time wsb traders got totally wrecked in GME and order book and account got locked out in their robinhood apps. Oh yes, they can control how you loss money on their tip of their finger, they are the control freak!

[bayu7adi]

Make sense... but is the belief of many easily shattered here? Certainly not. I see it as a symbol of freedom from a government that regulates its citizens' lives too much. I can say bitcoin is high risk, and even no one can guarantee when everyone will withdraw all of their money. The only thing that makes everyone confident there won't be a massive withdrawal is the ETF. Yes, citizens are just worried because Bitcoin is not 100% internationally recognized yet... they need the stamp of approval from a trusted institution to truly trust Bitcoin. The SEC has that stamp (maybe for short term period).

And is price increase the only thing expected in the world of Bitcoin? I don't think everyone sees it that way. There are still people who genuinely use Bitcoin for its function like a normal digital currency, not just for money gain.

[pinggoki]

Let them say what they have to say about bitcoin if it's changing a lot of people's lives and not them then so be it, just don't prohibit or stop your people from investing in something that they believe in and that will help them throughout their financial struggles. Those people that are worried about bitcoin are either against it because they give freedom to the people from the conventional financial institutions or that they want to create an artificial negativity in market or FUD so they can buy bitcoin at a much cheaper price since fear discourages some people from investing in bitcoin if they hear this so-called "trusted" authorities saying that investing in bitcoin is so risky that they need to get out of it if they're invested in bitcoin.

[slapper]

He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.

"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."

We have been hearing things like this for a long time but Bitcoin remains and is even getting stronger and has gathered increased trust from people. As an economist myself, I wouldn't say that Bitcoin is not without its own risks as it's being sustained by people's money, yet, life itself is risky, there's nothing that we commit our money to earn us more money that is not risky. Even to keep money in a fiat bank is risky, and the more your risk, the more money you might gain from it.

Specifically, the main cause of fear among economists is that Bitcoin is not backed by anything and there is no assurance that could guarantee the deposit of people. I'm afraid, I share their view in this regard because if anything bad starts happening, there will be panic withdrawal of money and it will get to the extent that the money will not be able to be withdrawn anymore and it might be gone forever if there's nothing backing it up, not even a legal agreement.

Still, stocks and shares that we buy to keep are not so much different from this. As Bitcoin is being sustained by people's money, such as stocks/shares are being sustained by it too. And the risk in Bitcoin is being reduced daily as the market gets more liquidity and I don't see any foreseeable collapse of the coin in decades.

No traditional finance is a paradigm shift, but isn't that innovation? Emerging financial ecosystems challenge the status quo. Bitcoin represents the digital transformation from tangible to intangible value. It shows social digitalization. Trust in technology and traditional institutions gives Bitcoin value. Modern alchemy converts digital trust into wealth

Bitcoin's volatility, a risk, might be beneficial. True free markets have no central controls. Bitcoin's fluctuation-resistant growth is astounding. Mature markets lessen volatility as liquidity rises. Bitcoin is a currency and symbol of decentralization in this financial renaissance. Our risk concept must grow with currencies. In a world of constant change, Bitcoin signals a new economic era=

[lizarder]

I don't care about what some brainless fellow said. By mentioning authorized currency he means it is not legal in the country which is true but this is the power of bitcoin where you can evade any ban from any jurisdiction. This is the freedom bitcoin can provide which other asset can not. There is no way to know the origin of a bitcoin owner and where he is sending or receiving it. This they can not control and that is why they are trying to defame it only by mentioning the negative side of bitcoin.

What do we care about what they say and ask one thing about how anyone can find a system of freedom like that provided by bitcoin. It is the job of economists to try to give a few words through their academic studies and their nature is for advice and what do they know about bitcoin so they dare say something like that? I don't want to talk about legal prohibitions through any jurisdiction because we know that Bitcoin is quite independent in providing financial freedom to individuals, so the aspect of choice can be taken as far as it can provide benefits and advantages.

To control the people they need to control the people's financial abilities. If mass adoption of bitcoin happens throughout the region then they will not be able to collect their illogical tax from their people. In bangladesh banks is paying a lower price for dollars than in the open market for remittances. If people start using bitcoin or other crypto for cross border payments their will be no profit from the banking sector. They will not be able to determine the price per dollar they want. They want total control and bitcoin is a threat to them.

In the end we have to talk about government profits through taxes imposed and the same way the banking system sucks the blood of its customers in search of profit. But that doesn't fully talk about taxes because when we convert bitcoin to fiat there are also taxes that are charged. They are afraid that this system can be destructive, which makes it difficult for banks to regulate and if they look further, they are afraid that they will not be able to control the freedom of their people in making choices in fiat or bitcoin. Forget them and do what we can so that we can set ourselves financial freedom through bitcoin because it is much better than the options that exist today.

[dezoel]

The reason that there is no authority or room for more supply is why it has become so valuable. It's decentralized and has a limited supply, it's global and available for any individual living in any corner of the world having a mobile or a PC with an internet connection, it isn't to be used within a specific country or territory. The mechanism that controls when it collapses or goes up is the demand and supply, it keeps going up as the demand increases because of its limited supply, and comes down when the demand decreases and people start selling their assets.

However, it won't collapse just like that because the demand will never cease to exist all of a sudden. If there are 20 million people holding Bitcoin, and 2 million out of them decide to sell their assets, that won't make the coin collapse but it will just have a slight plunge because of that sell-off.