Bitcoin currency stability - page 2.

sana54210

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I still don't know the clear status of bitcoin in China because how it is possible to the miners to sustain their when their country opposes it so I guess there is not the complete ban for bitcoin in china but the topic is about the US and China's trade war will affect the prices and yes it will have impact but the country which adopts bitcoin might get the strength and other will lose.

When it comes to media, you know they like to throw lots of shits to the public that are not even genuine or true, it was same media that I heard that a day has been picked for them to ban miners, and then till date, nothing has been done or said about it, and I would not be surprised today if you go to china and you ask the president about cryptocurrency, he might not have even heard of it, people like to formulate news that are not true a lot.

Look at India, I learnt through a mate’s comment that the judge ask why they didn’t allow government to be the one that will have problem with crypto, does that mean that their government never even had issue with it, and here on media we had that government has planned to ban it?

Lanatsa

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Quote from: vintages on August 23, 2019, 03:44:09 PM

So far, Bitcoin has showed what it can do even without the influence of a higher authority and nothing will stop it if it continues to be.
So therefore, it strength is guaranteed but having a stable price may not be a sure one...
Moreover, whatever issue the USA is having with China will not affect Bitcoin. Bitcoin is not specified or owned by either of the two countries.

It isn't really affected by any political or outside issues regarding into its price.It can stand alone without the need of institutional support.

Stability?It wont fit out yet one of the strongest asset of Bitcoin is on its price volatility.Price movements is on what most people do likes yet they do able to make
money with these movements.If this one comes stable then I doubt that the support would lessen up.

vintages

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So far, Bitcoin has showed what it can do even without the influence of a higher authority and nothing will stop it if it continues to be.
So therefore, it strength is guaranteed but having a stable price may not be a sure one...
Moreover, whatever issue the USA is having with China will not affect Bitcoin. Bitcoin is not specified or owned by either of the two countries.

Natalim

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Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

I think we need bitcoin to be regulated if we want to see it continue to hold its strength and become a stable investment in the future.
Without central authority looking at bitcoin, it is only those people who have hold a big number of BTC will benefit, they will continue to make money by manipulating the market, and this risk will continue to be high. We like adoption, and we like investors to make it possible, but this will not happen without the government overseeing bitcoin and the entire crypto space.

iv4n

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Bitcoin came to this point without governments, banks and regulations. Same institutions are responsible for wars around the world, and who is making profit from those wars? I think that most of the people are sick from wars more than ever before, that`s why crypto will be a safe heaven for all "normal" people of this world, who don`t like weapons, who don`t hate others just cause their government tells them to. Like bitcoin is boundless, world should be the same, borders are just on the paper that someone made to trick people.
Maybe for some people this is hard to understand, but "normal" people of the world will need to unite against a common enemy, that keeps us in dark for ages.

freedomgo

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At least they have an option to hedge they money to bitcoin in case this war will become worst.
Bitcoin as the most stable asset in the crypto space is the best option, it has been one of the option of some troubled countries, so I think this war somehow benefited the crypto space, however the there's only a temporary effect if this will not last longer.

For me, I like BTC to be use by a nation to help the devaluation of their money, like those countries that experience hyper inflation.
With the use cased of BTC that we are witnessing, I think BTC will even become more stronger in the future.

deisik

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Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?

People tend to overestimate the so-called trade wars between the US and China

Even the term itself (war) seems to be a massive exaggeration and sensationalist media invention itself, which common folks readily fall for. There are some tensions and disagreements between the two countries but it is the way the world as a whole ticks along. As long as there is no real "hot" war between the US and China (or whatever other major nation), we should consider Bitcoin safe (for the peace of mind)

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will these countries resort to bitcoin to maintain their economic strength? And avoid economic sanctions among them?

Why should they? How can Bitcoin possibly help them avoid economic sanctions? And which sanctions specifically?

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

It's already holding pretty strong. But in the dire economic conditions and disarray it will get hit too as any other speculative asset out there

EdenHazard

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Quote from: sana54210 on August 21, 2019, 03:27:51 PM

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?
Will these countries resort to bitcoin to maintain their economic strength? And avoid economic sanctions among them?
Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

The war is almost over and as you can see that President Trump is already reaching out to china to already have an understanding and a peaceful talk with him which could lead to the final solution to the war, so I don’t really see their war really lasting that long any more.

For the government of china and US, honestly both ate too adamant and I don’t think they will think of bitcoin as solution for now except people forces their hands down, and the only way that people can force them to accept it is if very large percentage of the country’s citizens are already using bitcoin, then it would be very difficult for them to control it even if they place ban on it, by that time they will have no choice than to also consider it but till that happens, I don’t expect any effect of their war on BTC.

It's not almost over , it's over and china won it! Don't ask me how .. you can see how desperate trump and how calm china is.

This is indeed a momentum for bitcoin to get everyone attention especially to those who affected directly by this trade war , it's seems (for now) impossible for both parties to formulate bitcoin as part of this trade war solution especially after trump announce himself as a 'not big fan of crypto' and how China actively wanted to ban cryptocurrency mining. But i believe there's a lot of people who don't know bitcoin before to consider using it after this. How? They need to get-away over this trade war, they'll try to experiment using and learning about cryptocurrency and They'll feel the benefit!

el kaka22

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The war has two fronts that affects the price of bitcoin. First of all we have the non-crypo regular side where USA and China is having a tariff war that is affecting both countries, USA is affected because they do not have to means to access cheap manufacturing which is hurting the profits of companies and some of them even going bankrupt because of this, China on the other hand is no longer getting the money from USA it used to get for cheap labor they have.

The other side of this story is that china has banned a lot of things related to crypto which is making money a lot harder because people can't just go around the bans and use bitcoin, tariff war could have been a lot less if crypto was loved in china but since its not bitcoin is not getting the attention it could have gotten from this.

Slow death

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Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?

When I saw your post I remembered that I read this subject several times in the news channels, it seems to me that the news channels are taking advantage of this situation to make headlines:

Digital Yuan: Weapon in US Trade War or Attempt to Manipulate Bitcoin?

Bitcoin Price Loses $10.5K Support as US-China Trade War Tensions Cool

Bitcoin Price Drops to $10,000 in Recent Downtrend

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will these countries resort to bitcoin to maintain their economic strength? And avoid economic sanctions among them?
Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

Bitcoin will not replace Fiat, it can be used a lot by everyone in the world, but banks and fiat will still exist

qwertyup23

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Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?
Will these countries resort to bitcoin to maintain their economic strength? And avoid economic sanctions among them?
Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

Access to bitcoin or any kind of cryptocurrency is restricted in China. This would impact the price significantly since most miners come and originate in China. The implication would affect the future outcome and price of bitcoin considering that its acceptance is on the process of being accepted to countries.

I doubt that these countries would resort to bitcoin to maintain their economic strength, as what was stated on your argument. Although securing this type of investment may yield opportunities, economic strength can be drawn into different financial factors.

elda34b

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Quote from: bitmover on August 21, 2019, 09:21:19 PM

In the case of a global crises, if SP500 drops 40% and bitcoin only 30%, we are good. The problem is that a global crisis is the perfect time to cash out and buy more stable assets, such as ETFs and bonds. So we will certainly see some selloff in BTC in that case, IMO.

I see this scenario very likely to happen. I believe most people still believe in old, time-proven stable assets such as gold, so if there's some major disaster, those assets are likely going to be the place where most money went. Bitcoin will bleed hard, but if it survives, there's a possibility that volume will increase later so that price discovery is possible.

Mor254

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Quote from: sana54210 on August 21, 2019, 03:27:51 PM

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?
Will these countries resort to bitcoin to maintain their economic strength? And avoid economic sanctions among them?
Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

The war is almost over and as you can see that President Trump is already reaching out to china to already have an understanding and a peaceful talk with him which could lead to the final solution to the war, so I don’t really see their war really lasting that long any more.

For the government of china and US, honestly both ate too adamant and I don’t think they will think of bitcoin as solution for now except people forces their hands down, and the only way that people can force them to accept it is if very large percentage of the country’s citizens are already using bitcoin, then it would be very difficult for them to control it even if they place ban on it, by that time they will have no choice than to also consider it but till that happens, I don’t expect any effect of their war on BTC.

If the war ended.Economic warfare and pressures can never end.
Every country is trying to impose its authority.
The Bitcoin revolution cannot succeed without state consent for its citizens to use currency

LAXMI79

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Bitcoin currency stability is confirmed because its a decentralised currency. and the faith of people are incresed day by day in bitcoin so it is the demand and need of future world.

suzanne5223

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Quote from: Mor254 on August 21, 2019, 06:30:43 AM

To what extent will the economic war (between the US and China) affect its future impact on the bitcoin?

In my opinion, the economic war between the US and China does not have an impact on the price of bitcoin because the war between US and China is something that has to do with the government while bitcoin is decentralized and control by the crypto communities.
I think it because you expect too much from the market due to the upcoming halving which doesn't mean the market won't experience dump in price sometime before it halving.

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will these countries resort to bitcoin to maintain their economic strength?

There's a possibility for bitcoin to maintain the economic strength the individual who is from the US and China but I'm sure it will maintain the economic strength of the two countries since there stance about bitcoin is different.

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

And avoid economic sanctions among them?

Honestly, bitcoin cant avoids economic sanction for every country is useful to others in some aspect.

Quote from: Mor254 on August 21, 2019, 06:30:43 AM

Will Bitcoin succeed in maintaining its strength and stability as it is not under central authority?

The US and China are not the only countries where there's bitcoin users or investors and I don't see any reason why bitcoin won't keep up with its strength and stability.

bitmover

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Quote from: exstasie on August 21, 2019, 02:18:23 PM

Most people keep trying to paint BTC as a "safe haven" in the face of shaky USD, CNY/RMB, Chinese and American stock markets. But I think we are still very far from Bitcoin truly being a safe haven asset.

That is to say, I think Bitcoin is rising in spite of investor fears in the broader markets, not because of them. If shit really hits the fan (global financial crisis, deep recession), my opinion is that Bitcoin will suffer dearly.

I agree, bitcoin is not a safe haven asset. Bitcoin never saw a global crisis before, so nobody knows how will it react.

I believe it will not be a safe haven, it will bleed, but maybe not as much as the stock market.

In 2017, when there were tension with North Korea X US/South Korea bitcoin price trended up.

Quote

https://www.ccn.com/bitcoin-price-trends-us-north-korea-tensions-heighten/
Although it is difficult to calculate the impact of global volatility on the bitcoin price, CCN has previously documented a correlation between U.S.-North Korean tensions and an uptick in the bitcoin price. Last week, for instance, the bitcoin price surged $260 on the same day that a North Korean diplomat accused the United States of taking actions tantamount to declaring war.

That is not a global crisis, and North Korea is not China... I know it is different, but there are some similarities.

In that case, had the tensions escalated a war between North/South Korea could lead money from South Koreans to BTC, as they love BTC there.

In the case of a global crises, if SP500 drops 40% and bitcoin only 30%, we are good. The problem is that a global crisis is the perfect time to cash out and buy more stable assets, such as ETFs and bonds. So we will certainly see some selloff in BTC in that case, IMO.

Stakeey

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Over the longterm bitcoin is more likely to mantain its stability and thus outperform fiat but over the short term volatility will probably remain high

Janation

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I don't think they will resort to Bitcoin.

They might be able to get some profits out of it but I don't think they will be using it to maintain their economy since we all know how volatile it is. Some countries might talk to some whales in able to shift the price of it so that will really affect China if they resorted to Bitcoin. I think they will stick to what they great right now, the trading industry still.

Altero

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Quote from: omonuyak on August 21, 2019, 03:48:05 PM

Bitcoin has started reacting to some economic news that affect USA and other developed countries and that is a sign of interest from citizens of those countries. I think bitcoin should benefit from the financial crisis or trade war between China and USA and it should naturally influence bitcoin price as investors will flip stocks and other securities to bitcoin as a safe heaven.

As this big country will finally be opened for crypto acceptance to their citizens it will be a big help to escalate the market price into good. The influence of these two countries will give a huge impact to the market flows and more investors coming from them will put interest and the other country also may follow.

Baofeng

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Quote from: omonuyak on August 21, 2019, 03:48:05 PM

Bitcoin has started reacting to some economic news that affect USA and other developed countries and that is a sign of interest from citizens of those countries. I think bitcoin should benefit from the financial crisis or trade war between China and USA and it should naturally influence bitcoin price as investors will flip stocks and other securities to bitcoin as a safe heaven.

What made you say that? Recently, the domestic woes between China and Hong Kong was thought to push either country to hedge their wealth on bitcoin, but so far we haven't seen the effect. But as so far as the impact of the China-US trade war, it is still 50/50 in my opinion. If could have an impact, but it's gonna be short term though. Investors will likely put their wealth to a stable investments like gold or even real state.

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