Bitcoin's Image Is Getting Stronger by the Minute

DougM

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Quote from: DougM on September 02, 2020, 05:39:49 PM

Quote from: taufik123 on August 29, 2020, 02:54:46 AM

Quote from: AniviaBtc on August 29, 2020, 02:29:43 AM

-snip-
In mid August, bitcoin reached $12k and people are thinking that this is the sign for an another ATH this year. We are being optimistic and waiting for more increase but it didn't went that far because it suddenly go back to $11k. I'm still hoping that ATH will occur this year or in 2021 after this Covid-19 was eliminated and done.

Some people right now are really investing in bitcoin because of its ability to become a good asset when we experienced financial reset. Hopefully, more and more countries will open for cryptocurrency adoption so that bitcoin community will grow even if we are experiencing this crisis.

The drop in Bitcoin price to the $ 11k area is still very reasonable, as the market is making a correction. We are all optimistic that ATH will only be achieved this year. Many predict 2021 to be a good year for bitcoin.
Good news about bitcoin is starting to emerge. Many people are investing in bitcoin during this time of the pandemic. For cryptocurrency adoption, several developed countries provide regulations on digital currency as a commodity asset, including in my country. in other countries, such as Korea, Bitcoin has even been legalized.

After this pandemic is over I believe Bitcoin will continue to grow and become more desirable. Other adoptions will begin to emerge.

I am appreciating that bitcoin is no longer mimicking the stock market's movements more recently. Each is going up and down, but at least not as lockstep as in the spring. Is this just my imagination or do others agree the stock market is acting less correlated than in the spring?

I was just thinking the same thing, but unfortunately today it crashed the same day market went down hard... Hopefully it is just a coincidence and won't continue correlating.

Twentyonepaylots

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Activity: 1932

Merit: 370

Quote from: sayulita on September 02, 2020, 06:37:13 AM

Quote from: AbenovAlp1985 on September 02, 2020, 05:30:31 AM

and what will happen after bitcoin stops mining? what will happen to its price?

Then also its price would increase as the demand would then also be continuously increasing but the supply would become constant and with more people forgetting their private keys or their seeds, supply will even decrease in the future.

We can't really sure about the increase demand in the future as there are many coins in the market which is better than bitcoin. What I'm telling is the pure belief of us towards bitcoin will get bitcoin that far, probably $50K in price? but the question is until when are we going to support bitcoin? The uncertainty of things in the cryptomarket creates the speculation of which bitcoin's price is built. But I'm one of you guys, I'm hoping for bitcoin too.

Quote from: sayulita on September 02, 2020, 06:37:13 AM

So there would always be a positive impact on the bitcoin price as the mining goes on and on...
I am curious to see how the miners would thrive when the reward becomes obsolete and also the transactions would become cheaper on the bitcoin network.

Create a bitcoin extension, BTCX. lmao just kidding. Miners will accept the offer or leave the house, that's all it takes.

DougM

full member

Activity: 173

Merit: 120

Quote from: taufik123 on August 29, 2020, 02:54:46 AM

Quote from: AniviaBtc on August 29, 2020, 02:29:43 AM

-snip-
In mid August, bitcoin reached $12k and people are thinking that this is the sign for an another ATH this year. We are being optimistic and waiting for more increase but it didn't went that far because it suddenly go back to $11k. I'm still hoping that ATH will occur this year or in 2021 after this Covid-19 was eliminated and done.

Some people right now are really investing in bitcoin because of its ability to become a good asset when we experienced financial reset. Hopefully, more and more countries will open for cryptocurrency adoption so that bitcoin community will grow even if we are experiencing this crisis.

The drop in Bitcoin price to the $ 11k area is still very reasonable, as the market is making a correction. We are all optimistic that ATH will only be achieved this year. Many predict 2021 to be a good year for bitcoin.
Good news about bitcoin is starting to emerge. Many people are investing in bitcoin during this time of the pandemic. For cryptocurrency adoption, several developed countries provide regulations on digital currency as a commodity asset, including in my country. in other countries, such as Korea, Bitcoin has even been legalized.

After this pandemic is over I believe Bitcoin will continue to grow and become more desirable. Other adoptions will begin to emerge.

I am appreciating that bitcoin is no longer mimicking the stock market's movements more recently. Each is going up and down, but at least not as lockstep as in the spring. Is this just my imagination or do others agree the stock market is acting less correlated than in the spring?

starseeker

jr. member

Activity: 45

Merit: 4

One thing that I've noticed is that in times of this pandemic, people are throwing their money for safer/secure investments. Gold is the easiest option. But more and more people are getting into btc too. This explains why Bitcoin growth was more than that of gold in these tough times.

rodskee

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Merit: 205

Quote from: dunfida on September 02, 2020, 02:16:20 PM

When it comes to transaction fees then its up to them but to think that there would be no bitcoins to be mined then expect that there would really be a rise yet there's no other way for them to make money.

They need to continue surviving by means of transaction fees in case all bitcoins are being mined. Miners who only have small mining devices will surely divert their mining devices to other potential coins since big companies will eat them up, we already seeing that now even there's still bitcoin out there that needed to be mined, big mining companies already dominating everything.

Quote from: dunfida on September 02, 2020, 02:16:20 PM

but only through fees but actually why would bother of if you wont live on that day where the last bitcoin would be mined? Its too far off but hey this one is really a good adoption

Correct! enjoy what you are seeing right now and who knows what will future brings use as many possibilities that
can happened along the way, enjoy what bitcoin is bringing and take care of your opportunities, it's more better to
think about the advantages and the ways of gaining from this current market.

Quote from: dunfida on September 02, 2020, 02:16:20 PM

but one things for sure that nothing can really be assured since we know that no one can really predict on what would happen in the future neither bitcoin is still the king or have been replaced by something much more better alternative.

You should always have alternatives plans when dealing to this industry, whatever happened you still have another options to continue life
and to continue surviving.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: sayulita on September 02, 2020, 06:37:13 AM

Quote from: AbenovAlp1985 on September 02, 2020, 05:30:31 AM

and what will happen after bitcoin stops mining? what will happen to its price?

Then also its price would increase as the demand would then also be continuously increasing but the supply would become constant and with more people forgetting their private keys or their seeds, supply will even decrease in the future. So there would always be a positive impact on the bitcoin price as the mining goes on and on...
I am curious to see how the miners would thrive when the reward becomes obsolete and also the transactions would become cheaper on the bitcoin network.

When it comes to transaction fees then its up to them but to think that there would be no bitcoins to be mined then expect that there would really be a rise yet theres no other way for them to make money
but only through fees but actually why would bother of if you wont live on that day where the last bitcoin would be mined? Its too far off but hey this one is really a good adoption but
one things for sure that nothing can really be assured since we know that no one can really predict on what would happen in the future neither bitcoin is still the king or have been
replaced by something much more better alternative.

SomeJasonGuy

jr. member

Activity: 322

Merit: 3

it has been so for the past few years even before the pandemic. The currently global situation and the Fed money printer going Brrr give it all the more credibility. But if you ask me, there's still a long way to go. At the end of the day, more power to BTC.

Cryptocurrency Hunter

newbie

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Yes, Bitcoin's image is increasing, but I think that the coin that can increase more than Bitcoin's image as it increases is Ethereum. If it continues like this, I believe that Ethereum coin will compete with Bitcoin. If it continues like this, Ethereum could show Bitcoin's old rise.

wanted sliter

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Activity: 398

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Bitcoin increases its best value when major economic and political events happen. When the world is unstable, people find ways to move their assets to a safer place to avoid inflation of fiat money and devaluation of assets such as real estate, stocks ...
During the pandemic bitcoin and gold were the two best and stable growth assets. I think bitcoin is digital gold and it is doing its job well.

sayulita

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Activity: 881

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CyberTrade

Quote from: AbenovAlp1985 on September 02, 2020, 05:30:31 AM

and what will happen after bitcoin stops mining? what will happen to its price?

Then also its price would increase as the demand would then also be continuously increasing but the supply would become constant and with more people forgetting their private keys or their seeds, supply will even decrease in the future. So there would always be a positive impact on the bitcoin price as the mining goes on and on...
I am curious to see how the miners would thrive when the reward becomes obsolete and also the transactions would become cheaper on the bitcoin network.

AbenovAlp1985

newbie

Activity: 1

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and what will happen after bitcoin stops mining? what will happen to its price?

carlisle1

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Quote from: xen1oph on August 29, 2020, 01:45:22 AM

Quote from: smyslov on August 29, 2020, 01:28:14 AM

I expect many countries to change their bad perception on Cryptocurrency.

As soon as they figure out how to regulate and control this, they will definitely change their minds. Those countries that haven't yet come up with it ban BTC on their territory.

regulate?Kindly explain how can they do that?controlling Bitcoin?of whom?this will not happen mate no one can control Bitcoin because this is decentralized .
if this is indeed then surely USA have already controlling this.

Quote from: Latviand on September 02, 2020, 03:57:04 AM

The only person who can understand and see the bitcoin's importance is the holder itself.

I think it is more than understanding but trust also?
because holders do understand and also support this currency as the trust being held.

Quote

Once you don't try it and you don't feed your curiosity about bitcoin's ability to make you grow as an individual, then you are wasting the opportunity

Sure it is,that we need to at least try investing even small amount then after a while and you have felt the benefts?then stay and invest more.

Quote

Bitcoin is worth it to invest and a good asset to transact with depending on the market. Hopefully, people will see the essence and good impact of bitcoin in to an individual.

We can say this because we already invested here and regular,like what you said they must try it first before really understanding.

Latviand

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The only person who can understand and see the bitcoin's importance is the holder itself.

Once you don't try it and you don't feed your curiosity about bitcoin's ability to make you grow as an individual, then you are wasting the opportunity for you to become successful in life. Bitcoin has a lot of potential that's why the bitcoin community is growing so fast. I just don't understand why people are scared to take the risk, they don't know the odds.

Bitcoin is worth it to invest and a good asset to transact with depending on the market. Hopefully, people will see the essence and good impact of bitcoin in to an individual.

BuNga_cute

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I also feel the same way, that Bitcoin is getting stronger and also popular. Maybe Bitcoin has proven useful now, because Bitcoin transactions
are completely digital. It is very safe if adopted as a means of payment in the current pandemic situation. In fact, the image of Bitcoin is
increasingly positive, because the price of Bitcoin continues to increase and this makes investors trust more increased against Bitcoin.

Yamifoud

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This is a perfect time for crypto adoption. We never think that the situation will come into this and it is very fortunate that we have bitcoin that will save us. I'm not sure if the creation of Bitcoin is a part of the plan in preparation for the situation like this but glad we have this already and people see its importance.

The massive growth of crypto users and investors is an indication that we are moving forward for a big change, from fiat to digital diversion is likely to happen soon and fully adopted. I don't think that we are so thankful having this pandemic just to give realization in regards to crypto but could be a reason why people are open for these changes.

adzino

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Yeah, it is true that it is getting stronger every minute, but the problem is like you said, people are using it as a store of value. People aren't using it as a form of currency like they should. I mean, wouldn't it be "more stronger" and better if people used it as a currency? The value would rise more than it is now.
Anyway, the value of US dollars plummeting has nothing to do with the price of bitcoin. This is just a temporary phase due to the current bad economy which is the result of the pandemic. If everything gets back to normal, we can expect the value to go back to normal.

mezzaluna

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Its just not the US Dollars that are plummeting but also other physical currencies around the world. In Cryptocurrencies, Bitcoin's popularity still rises and its value still sits on a high value. We can still hope to see that Bitcoin might gain another price surges within the yuletide season because that is a possibility and that happened in 2017-2018.

kerjakuat

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As we all see now the price of bitcoin rising and the investors are popup everywhere as they see the price are rising in cryptos market.. Even tough we really think the pandemic was the factor that bring bitcoin to the rising on market due to peoples most of the time at home but this was not why bitcoin price was rising again. Its because peoples start to trust bitcoin and mass adoption start to be happen in the whole world.

shoreno

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Quote from: john_nautica on August 31, 2020, 08:29:04 AM

Quote from: Slow death on August 30, 2020, 01:44:40 PM

Quote from: roadrunnerjaiv2025 on August 29, 2020, 12:12:42 AM

But I wonder how bitcoin will perform when the pandemic is over.

many people keep making very absurd forecasts and forget that the pandemic will one day pass and everything will return to normal, which means that people will continue to invest in the investments they have always invested,

people would just go back to their normal lives after pandemic. By this, they will go back to old habits and old investments.

i suddenly got a bad vibes after reading that . i was thinking that the cause of the increase in crypto is due to pandemic but once this pandemic is over im afraid that people will pull out thier money as well and return on thier previous hobby .

im talking about people that invest on gold , stock , and others because i hear that they sold and transfer here .

budi691

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With the COVID-19 pandemic outbreak, all expect promising crypto investments, one of which is bitcoin, to increase, but perhaps this is a moment where people will now believe more in Bitcoin, and bitcoin will indeed be a good and profitable asset as long as this. like this. as a pandemic. and I hope it doesn't stop there when the outbreak ends but it will escalate even higher after this outbreak.

Topic: Bitcoin's Image Is Getting Stronger by the Minute (Read 556 times)