Topic: Bitcoin's Image Is Getting Stronger by the Minute (Read 567 times)

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.

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.

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

  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?

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.

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.


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.


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.

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.

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.

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.

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.

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.

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

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.
I think it is more than understanding but trust also?
because holders do understand and also support this currency as the trust being held.
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.
We can say this because we already invested here and regular,like what you said they must try it first before really understanding.

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.

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.

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.

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.

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.

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.

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  .

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.

I never expected to the pandemic to be one of bitcoins biggest allies but that's exactly what it has been. 


I agree in most part with your assessment here, and think you did a good job laying things out.  However it's important to remember that a "store of value" or a "hedge" asset is NOT "an asset that maintains it's value without depreciating".  There is no such thing as an asset that can't depreciate.  Bitcoin can, has, an will continue to go down at times. Let's hope bitcoins growth continues far after covid-19.

What you said really made sense. Although enthusiasts are really going all positive about the future of Bitcoin and crypto industry at large, due to the evident increase recently, it is also possible that people would just go back to their normal lives after pandemic. By this, they will go back to old habits and old investments.

Thing is, many countries are printing like mad to flush money up from the poorest. This is not socialist propaganda or whatever, it's just what seems to be happening. Other countries do better. Not all countries are printing like mad though. But what better way to build an alternative road to the impending overinflation of many world curriencies than by buying bitcoin with those savings.

I can say now I'm confortably at 50% btc savings, 40% in my local fiat currency (EUR), 10% in a few different FIAT currencies.

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, bitcoin still has a long way to go because of the lack of regulation ( a big barrier that limits bitcoin a lot). this price increase we are seeing we cannot think that people are running en masse to invest in bitcoin

Because of the pandemic there was a lot of peoples are stay at home as the government forbidden them to go out in this pandemic time. Peoples that invest on stock trading might be changed their passion to cryptocurrency who knew. Might be a newbies that has nothing to do start to research about bitcoin.. This is all because the covid a lot of peoples stay at home and Seeing bitcoin as their alternatives to use bitcoin as it easy to use and can be trusted.

Very well said. Bitcoin has been rising day by day because people have started to recognize it.
This pandemic, many acknowledge what Bitcoin has to offer because they experience it firsthand.
In the future, these people will stay in here because they see the potential of Bitcoin thus, it will prosper.

After the pandemic,Bitcoin will perform the same way it was performing during the past few years.
Why do some people expect that we will wake up in a brand new world after the pandemic ends?Nothing will change.The US dollar is suffering now,but it will remain the strongest fiat currency in the world.No central bank in the world will dare to replace USD with BTC.
The image of Bitcoin isn't "getting stronger by the minute",because I don't see any mass BTC adoption happening right now.No big corporation is currently adopting BTC payments and I don't see millions of people opening BTC wallets and buying Bitcoins.

The current COVID-19 pandemic is a test for Bitcoin, whether it is worth investing in Bitcoin in the current conditions or not.
Where the world economy is experiencing a downturn, some assets are expected to save the wealth we have. Of all the assets
that are of interest to many investors, Bitcoin is one that is increasingly popular and its demand is also getting higher. It can be
seen from Bitcoin's performance during the spread of COVID-19 that it is getting stronger.

Recently I see so many hypes regarding on cryptocurrency investment but sadly some of them has been brought to those scam investment site which may lead for newbies to be turned off on crypto if they will get scam, but in other hand this current situation on the market where bitcoins gain good strength to became stable and pump unexpectedly creates interest for those people who are sleeping and just monitor the flow so provably we can see more curious people comes when the market will still strong until next year.

If dollar goes down, most things are likely to follow. And I am very unsure that Bitcoin would go up because people mainly think of Bitcoin in terms of its fiat price. As for being a store of value, I think the majority would still give preference to gold due to its long history of playing this part. Bitcoin might win over in the long run, but I don't think it's likely to win in 2020-2021.
I think the logic behind this is that the US is still world's greatest economy, and so every other country wants dollars and relies on dollars. Thus, this strong demand will push dollar up, helping it to maintain position. From what I've read, however, the current situation is too novel to make reasonable predictions on whether dollar will be okay or not.

Should we say that Bitcoin is surging high because USD had drop its value?
It was not about dollar or gold that coincides with the promising looks of Bitcoin nowadays but because people see it as a vital thing to acquire this time as the pandemic continues. People considering Bitcoin as new financial freedom, not being control by these politicians or any others but just our self.

And also, it is to realize that sooner or later, fiat money will be replaced by any digital currency, and possibly crypto will take on the lead. The market recession had come to start, yet it takes years, decades to see it. And I foresaw that Government will consider this and accept the changes that most wanted to happen.

Indeed, the pandemic crisis brought some of the newbies here in crypto. Because a lot are stuck in their homes and finding ways where to earn income or invest their portfolio, definitely they encounter crypto in some way of searching the net. As it is also a good option for payment method other than fiat, I guess a lot of merchants are also looking into this option.

Until Government at all levels realize that digital is the way to go for us to have a good economy and financial control which BTC and other financial assets have given to us to be in charge and full control of our capital. Printing money at will is just a dictatorship and does not provide equal opportunity.

I wonder how bitcoin will perform when there is a economic recession when the stock market starts pummeling will the investors jump into bitcoin and the cryptocurrency market or everyone would cash out and wait for the recession to get over and hold the coins in stable coins, it is a question we are yet to ask and the theory of store of value will be put to test.

I maintain the conviction that after the Covid19 pandemic. We will overcome the economic crisis in a short time. Bitcoin and cryptocurrencies will play a very important role.

Why? Take a look at this tweet.
This is an advertisement for Binance In London, endorsed by its CEO.

Money is evolving.

It's time to adapt.

#TakingOverLondon 🇬🇧

https://twitter.com/cz_binance/status/1299349187792830464?s=19

The crypto community will make this change possible and this new way of using blockchain technology in order to offer solutions to the global economy. Honestly, everything will depend on our efforts.

Thank to the pandemic bitcoin has being massively being adopted as the world in a bad shape in economy and they hard to do their lifestyle  because of the Pandemic. There was a lot of transaction in bitcoin cunrrelty make othe believes that bitcoin might be pump up do the strong demand on it.

feels the same towards bitcoin. If people do still care about its image on the internet, on the news after it was used in a scam then they are not ready for it. I wish I could accumulate even a single bitcoin before the world turns into a digital one where bitcoin is the center of a discussion. But to be honest the chance of bitcoin being friendly in the future is quite small.

Yeah, it seems like the pandemic is speeding everything up, things are getting worse lately for several countries.
The dollar will still be a global reserve currency for like 2 to 3 years, then it will be replaced by Chinese Yuan. just my opinion.

Well, this pandemic is one of the key factor for Bitcoin's adaption and popularity. With the demand of having a cashless transaction, Bitcoin has been one of the many options to pay for some goods and services without actually handing over a physical currency. But, what's good about having Bitcoin? Well because people are actually treating it as a store of value rather than spending it like a "real" currency. This is one of the reason some big businesses and rich individuals are shifting to Bitcoin than keeping their dollars that continues to depreciate and the V-shape recovery that Trump said is still far from happening because of the continued rise of positive cases.
Therefore, I believe this pandemic just introduced Bitcoin to those people who aren't totally aware of the usage and future of this technology. Thus, Btc will become even more popular.

All of that is true, but its not that easy to world’s reserve currency maintain its strenght/value while printing like MAD.
This is real problem, everyone but USA mostly printing like mad lads. Value of currency beign printed this way plummeting, other resources price going up (gold, BTC etc.)
Dollar wont recover from that easily. I dont think its even possible, especially now while crippled economy from covid.

I'm not as positive about the situation as OP but there definitely is an improvement in Bitcoin's image.

I don't agree that people are starting to see it as a store of value. There was no real estate crash yet and land is still a much more popular investment than Bitcoin.

Bitcoin is still a speculative asset and an alternative to traditional stocks. It may be an alternative to gold as well but real estate is still the end goal for most people and Bitcoin only the money making machine that they can later invest into something more stable.

Well those countries have their own reason why they are not adapting the previleges or convenience cryptos. It might be because of their market value and market volatility. People do benefit from the advantages of cryptos regarding the convenience cryptos are giving to its users.

Now that hype is getting stronger, and Bitcoin is getting more popular, people are having more confident to invezy in cryptos in particular with Bitcoin. More communities R
are supporting the hype of this trend.

Heh, yeah. When you've got Kiyosaki waxing lyrical about Bitcoin, and an SEC commissioner who thinks the world of it, and a Visa exec who says there is no better time to exit fiat and enter Bitcoin, then you really got to say Bitcoin's image couldn't be better now.

Fiat's doing itself no favours either. Every central bank in the world is printing, and the Fed has virtually said it doesn't care about inflation.

Why so much fanfare we all know how Bitcoin has affected us and what it means for all of us?

Bitcoin is the reason why we are here and feel financially independent. Of course, there are negative aspect of everything and what we hear on mainstream media as well as government blackmailing is one reason.

There are more but who cares when you believe in Bitcoin.

Few things I would like to say here:

1. We do know that US is a powerful country but we are not sure of the face that the dollar will maintain its value.

2. Bitcoin's uptrend does not coincide with the downtrend of dollars or something like that , its not 100% line to line.
( see even right now if you compare day to day basis of the price of Bitcoins and the price of dollars both are comparatively up ☝ )

3. The Media coverage is strongly against general public making an investment in cryptocurrencies

4. Due to failing economy Bitcoins have emerged as a powerful option for the people who were involved in the stock markets and such.

5. The main thing is acceptance and flexibility of the economy , how bitcoins are able to integrate themselves would actually determine the future and that does depend of the government since they would have to provide certain flexibility either way.

"As for the the bitcoins is the only thing helping my family during COVID since government is unable to provide job and work from home is easiest and much better when done in context to Cryptocurrencies like Bitcoins, pandemic have made me appreciate this invention"

By now it should be very clear that no matter when and how the pandemic will be over, it does not in any way bring a negative impact to the rise of the bitcoin. Forget about the stimulus package which many people have been saying it contribute to the current growth of bitcoin. Not everyone who has received this stimulus package spends it on bitcoin. people are losing a job, unemployment is getting high, the cost of living is increasing. Many people will consider spending this money on foods and social needs than on bitcoin. Bitcoin will continue to be stronger even after this pandemic

The pandemic could be the one thing that makes people notice Bitcoin. That could be enough for them to appreciate the features of Bitcoin. This might be the necessary starting point that really convinces people that there is indeed a currency which is far better than the one they are currently using.

With this, I guess it won't matter anymore to them whether there is a pandemic, a crisis, a recession, or even if everything is pretty normal. Once they knew Bitcoin they would appreciate it. This somehow tells me that post-covid is still better days for Bitcoin. Not to mention that post-covid does not mean full recovery of the economy. It might take years before the economy fully recovers.

Yes it is the pandemic by far is it's biggest test and it's hurdling the test successfully, we can see not only a big rebound but potential of a new all time high, now and the weeks and months to come is important because we will see if the halving and the investors shifting to Cryptocurrency will really have an impact in the market.

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.

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.

I doubt that a lot of people view Bitcoin as some sort of reserve asset, for that you'd need to have be skeptical of the US dollar and fiat system in general, which overwhelming percentage of the population isn't, and pandemic isn't changing it. If inflation is going from 2% to 2.5%, people would barely notice it. You'd need a swift currency devaluation by 30-50% to make people start looking towards BTC, but even then it's not guaranteed. A lot of countries in the world experienced big drops in their currency since Bitcoin was created, and their population didn't choose Bitcoin as a method to counter it, they choose US dollar. If US dollar will start falling, gold is the next thing to choose.

If anything, the pandemic has slowed the growth of Bitcoin. Large economies as well as EMDEs are in crisis, with a high unemployment rate in most countries; this means people have less money to spare and hence, less money to invest in assets like Bitcoin. The pandemic ending (through a vaccine or herd immunity) will restore normalcy and this would be positive news for Bitcoin.
Over the past few months we have seen major players like micro strategy and fidelity get into Bitcoin, so it's safe to say; the point has been made and many people are already seeing the value that it offers.

Bitcoin performing well amid the crisis and the USD doing bad doesn’t mean that they’re completely related to each other. Bitcoin saw more than 30% increase all while this pandemic is ravaging countries, and the USD, despite  being printed so hard to give cash aids to the citizens of US, hasn’t moved that much down. I personally don’t think USD is the main reason why people are buying bitcoin all of a sudden but rather their failing stocks during the first half of 2020 and the continuous bad performance of assets that people are commonly invested in.

I mean, would you stay in an asset that is giving you nightmares everyday than taking one that has a history of giving in more greens than reds during the entirety of its existence?

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.

Bitcoin was by far the best technological achievement after the Internet. Alongside the web, Bitcoin has been seen in many different ways by the people. Now, the role of Bitcoin as the new leader of the financial world is inevitable.
Personally I feel like BTC will be my personal insurance policy for the future and I don't care about its image anymore.
On your thoughts regarding the USD I wouldn't be sure about the dollar keeping its role as a global reserve currency. Things are escalating quickly.

Bitcoin so far is doing great at this point in time, when this pandemic is over it will be even, better people comes to realized and many are now doing it that Bitcoin is a haven for their investment and assets, Cryptocurrency is performing better than all the other assets in the world and one of the first to recover, took only two months to fully recovers, I expect many countries to change their bad perception on Cryptocurrency.

But I isn't printing the dollars is inflation in the market? I mean it won't help the economy if businesses are not running and cash flow isnt circulating in the first place. If they keep printing the money, give out stimulus packages (more to the current one) then it's like people are getting fed on government money and in return government is not getting taxes and thus they will ruin the economic balances. This is will cause more chaos in long run for the government.


Corelation between bitcoin and dollar might be limited to stock markets, lets call it as an indirect relationship. Over the time it is truly seen how share market news floods the crypto exchanges as well where people refere something like this: "XYZ stocks to be listed, and company is involved in crypto investment", or "ABC company is to buy stocks and give out crypto platform to their shareholders". etc. That is just my point of view.


Yeah the same thing as above. No concrete proof.

who expects this?
i'm no expert but i've been reading a lot of experts talking about how there is going to be a crash soon thanks to the extreme amount of dollars that Fed has printed over the past decade specially the gigantic jump in printing dollar over the past couple of months.

we haven't had enough dollar downtrend to coincide with bitcoin uptrends while we had lots and lots of uptrends in bitcoin over the past 11 years.

over the past month bitcoin price has gone up about 36% but dollar value hasn't yet tanked that much.
so bitcoin value did rise but it has nothing to do with dollar value dumping. not yet anyways.

The dollar continues to plummet as the U.S. struggles to reopen due to the pandemic (and the fact that the U.S. has the biggest number of COVID-19 confirmed cases, which gives its economy a very little wiggle room). This situation is expected to worsen--even down to 2008 level--as euro outperforms it thanks to the European Union’s 750 billion euro recovery fund/stimulus package.

Being the world’s reserve currency, however, the dollar is expected to maintain its strength and recover from the downturn as soon as things get back to normal. But how does this dollar downtrend affect bitcoin (apart from an increase in value)? We all know that dollar downtrend normally coincides with bitcoin uptrend, although some say bitcoin's value didn't really increase and instead it's dollar's value that deceased.

More and more people are starting to perceive bitcoin as a store of value (an asset that maintains its value without depreciating), and now that it's rising while other currencies and asset forms are falling, perhaps the most important impact this global crisis is bound to make is help strengthen the image of BTC for the long term. It offers gravity assist that slingshots bitcoin toward the ultimate goal of decentralizing the financial system. But I wonder how bitcoin will perform when the pandemic is over.