BTC Can show economy | Bitcointalksearch.org

giammangiato

legendary

Activity: 1862

Merit: 1327

Quote from: wanted sliter on September 08, 2020, 04:03:35 AM

Bitcoin is a speculative asset based on people's beliefs. Think rocket launches, trade wars, or President Trump's statements. Bitcoin shows its uptrend. People believe that economic and political uncertainties make people need to reserve assets and buy bitcoins.
Besides news, institutions trade Bitcoin in search of profits, so the value of bitcoin is more complex than just showing the world economic and political situation.

I total disagree, maybe in the short term it is a speculative asset. But long term, is a protocol like law, in my humble opinion, of course.
Even the laws that we accept every day are a protocol, as bitcoin will be in ten years from now.
Of course, bitcoin can fail. Because is a people project.

wanted sliter

member

Activity: 398

Merit: 10

Bitcoin is a speculative asset based on people's beliefs. Think rocket launches, trade wars, or President Trump's statements. Bitcoin shows its uptrend. People believe that economic and political uncertainties make people need to reserve assets and buy bitcoins.
Besides news, institutions trade Bitcoin in search of profits, so the value of bitcoin is more complex than just showing the world economic and political situation.

Finestream

hero member

Activity: 3052

Merit: 606

Quote from: mung_nasib on September 08, 2020, 12:07:00 AM

the doubt factor in the present situation must be very chaotic Because economic conditions are very bad, it makes someone try to be careful in investing.so that in fulfilling their daily needs they have to change professions and try not to use investment as the main income in this bad period.

Everyone can invest but not everyone are willing to invest because they would prioritize their need.

We should not think that investing is bad if we believe that our economy is bad, you would already know what would happen to our currency if our economy is bad, we will all suffer from inflation, so if we just save or keep that money, its' value will decrease which is not safe for us. So, we need to understand the risk of investing and it's reward so we would enlighten our mind on how to fight the inflation.

Actually bitcoin is a great investment because it's called a "store of value" and if you look at the current market status, you will see how strong bitcoin is compared to our state currency and as we feel the struggle now, expect that worst will come with our economy in the future and we need to act now.

mung_nasib

full member

Activity: 602

Merit: 100

DeFixy.com - The future of Decentralization

the doubt factor in the present situation must be very chaotic Because economic conditions are very bad, it makes someone try to be careful in investing.so that in fulfilling their daily needs they have to change professions and try not to use investment as the main income in this bad period.

beerlover

legendary

Activity: 3052

Merit: 1188

When something wrong in USA that does reflect on other countries as well. You have to realize that USA is a huge economic nation and they do share with other nations a lot by way of investing into them, you can check all the big companies all around the world and you can always find a tie to some american company that owns a part of it as well.

Even the most absurd countries have some american money invested into them, and the big nations all have it too. That is why I think it really does matter a ton that people actually do care about the USA economy in other countries as well. So, when american economy goes down, it also matters in other nations because they do not get any more investment which means they can't go higher and do better as well.

lienfaye

hero member

Activity: 3010

Merit: 629

At first I thought bitcoin has something to do with our economy especially the time when covid 19 virus became a major issue worldwide. The economy of the affected countries collapse and crypto market drastically drop as well. It seems there's a connection, that the price of bitcoin is depending on the status of the economy. However this changed when the market suddenly rise while we are still in the middle of pandemic and the economy are not yet recovering. Crypto market shows growth and seems heading to bullrun. It means economy and bitcoin has no connection, but only affected by the people engaging themselves in crypto or pulling out their money on crypto to have cash.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

There is no proven direct correlation between the economic state of the world and the behavior of the price of Bitcoin. At first thing that the pandemic have hit each and every part of the world last March 2020, we all have thought that the dropping on Bitcoin's price is an effect of the starting of pandemic and that it would remain up until this pandemic have come to an end. But after months of the pandemic was still on, we can see that there is a slow development and increase on the price of Bitcoin despite of the present economic crisis that each and every country is facing right now all due because of this covid-19 pandemic. We have seen that the direct hit of the economic crisis have an effect on the stock market but not on the crypto for it is continuously improving even if there is a present economic crisis ahead of us.

The economic crisis individually among countries are reflection of the economic capacity of the country and we can see that as of now many are still struggling to rise up their economy because of the pandemic.

Salauddin1994

member

Activity: 868

Merit: 15

The economy has little to do with Bitcoin. The development of the economy is generally applicable to the development of the country. Bitcoin price increases depending on the market and demand bitcoin investment is conducive to the development of the country's economy but the impact of the economy will not fall on Bitcoin. But if Bitcoin goes digital around the world it will be linked to economies like the Fiat currency.

tbterryboy

sr. member

Activity: 2030

Merit: 323

Quote from: wiss19 on August 22, 2020, 11:35:03 AM

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

BTC Can truly show the economy
i think when btc is down we know economy is down when economy is up the btc is up.
oil and gold are the same if the gold is still high in this economic bad situation we can expecting gold to hit even higher
if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.
so guys lets watch the btc price and we will know everything:)
sometimes the whales manipulating with quick pumps...but we can still the real price of btc

That depends on which economy you’re referring to are you referring to the whole world economy or a particular economy, because I think it depends more on the USD, and not really other currencies/economy. When the USD is affected, it’s kind of affected as well. And also any event that affect countries in the world as a whole will also affect Bitcoin.

We have seen that kind of thing happen with the pandemic, it affected almost the whole economy around the whole and the US economy and the stock market, and also affected the cryptocurrency market. But things are getting back up now, and if you check the USD it’s also going up.

I think even when whales do not do anything it still makes the market question what they are doing in case they do it. So, let's say right now there is no whales going on doing anything right? Let's say they are staying away, how could you tell a small time investors to not worry about it? They will not believe you and that is why I think small timers like me wouldn't act without considering whales and what they might do even when whales are not doing anything.

This is why I think whales are a crucial part of bitcoin or even crypto world in general. Hell, even me with just few thousand dollars have the power to manipulate some small coins, I have done it before, of course for profiting by going up, so others would earn too from what I did and didn't hurt anyone but I was capable of it, how would they know I would do it beforehand? Obviously that plays a role.

oHnK

hero member

Activity: 1414

Merit: 574

I am fairly new to Bitcoin. I started to follow Bitcoin since early March at that time the Bitcoin price was still around 6200 USD but currently the Bitcoin price has reached 12 000 USD. If you look at the economic conditions from early March to the present, you can say that the world economy is experiencing a decline, but in fact the Bitcoin price has increased quite significantly. This makes me think that your opinion that says that when the economy is going up the price of Bitcoin will go up is contrary with the reality.

imstillthebest

full member

Activity: 1638

Merit: 122

i regularly keep track btc but after reading , this makes me want to not look at the price of btc anymore because im afraid to see what could happen to the economy . earlier i saw the price was decreasing , so that means the economy will fall down ? oh my gosh not again .

i though we are already recovering . seriously i dont believe this theory , economy is what controls btc and not btc controls the economy but whale to control btc .

wiss19

sr. member

Activity: 2296

Merit: 348

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

BTC Can truly show the economy
i think when btc is down we know economy is down when economy is up the btc is up.
oil and gold are the same if the gold is still high in this economic bad situation we can expecting gold to hit even higher
if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.
so guys lets watch the btc price and we will know everything:)
sometimes the whales manipulating with quick pumps...but we can still the real price of btc

That depends on which economy you’re referring to are you referring to the whole world economy or a particular economy, because I think it depends more on the USD, and not really other currencies/economy. When the USD is affected, it’s kind of affected as well. And also any event that affect countries in the world as a whole will also affect Bitcoin.

We have seen that kind of thing happen with the pandemic, it affected almost the whole economy around the whole and the US economy and the stock market, and also affected the cryptocurrency market. But things are getting back up now, and if you check the USD it’s also going up.

Xembin

jr. member

Activity: 84

Merit: 3

Obviously,BTC price soared for $12 recently after being held at $10 to many weeks most in economy, show that if BTC go up, economy will go up,but if it's down the economy will be down, many countries has down because of the covid-19.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: Rana590 on August 21, 2020, 12:11:24 PM

Quote from: jrrsparkles on August 21, 2020, 08:14:56 AM

Crypto currencies not really playing a big part in a country's economic status for now, gold and oil prices are also same for most of the countries. The economic growth depends on lot of factors that what you thing even the countries are still in development stage when they got every kind of resource because of population and poor management from the government.

But if you think about digital currency like bitcoin, you will be able to find out that many people are using it now and day by day people are joining with it. After some days, there will be a connection with bitcoin to economy.

From my point of view, if mass adoption have increased in cryptocurrency or bitcoin, it could be now playing a big part in the economy because every country will be using bitcoin in their everyday use, so the price of bitcoin or other cryptocurrencies will now depend on the economic status.

Rana590

sr. member

Activity: 1750

Merit: 267

Quote from: jrrsparkles on August 21, 2020, 08:14:56 AM

Crypto currencies not really playing a big part in a country's economic status for now, gold and oil prices are also same for most of the countries. The economic growth depends on lot of factors that what you thing even the countries are still in development stage when they got every kind of resource because of population and poor management from the government.

But if you think about digital currency like bitcoin, you will be able to find out that many people are using it now and day by day people are joining with it. After some days, there will be a connection with bitcoin to economy.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Crypto currencies not really playing a big part in a country's economic status for now, gold and oil prices are also same for most of the countries. The economic growth depends on lot of factors that what you thing even the countries are still in development stage when they got every kind of resource because of population and poor management from the government.

Finestream

hero member

Activity: 3052

Merit: 606

Quote from: deisik on August 15, 2020, 02:45:35 AM

And while we are at it, it is not institutional money that will be able to change things dramatically, but total, overwhelming real-life adoption of cryptocurrencies as currencies (read, means of payment), making speculative market pricing irrelevant and inconsequential (which is as unlikely)

You are right, but will that happen without the institutional money not getting invested first?
I think you are just looking at the finish product here, how about the process? Do you think massive adoption will happen if they don't see big companies already in the space?

Please enlighten me as I'm quite confused with your explanation.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

i think when btc is down we know economy is down when economy is up the btc is up.

BTC is down and economy is down = probably yes
BTC is up already. Is our current economy up too?? I don't think so. Most of the countries right now are experiencing a recession. People are scared to go out and work so the cash flow is limited. People aren't spending their money too in some luxurious things because they want to hold some cash. The cash flow of every country has been affected by this pandemic that is why the economy is down.
I disagree with what you said that when economy is up, BTC is up and we can see it already right now. BTC is up but economy is down.

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

oil and gold are the same if the gold is still high in this economic bad situation we can expecting gold to hit even higher

Possible that investors are into hedging that is why they are investing their money in the bank into different assets like oil, gold and Bitcoin causing it to rise.

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

if the btc not going up anytime soon in few months we are in real trouble...then the whole economy will collapse.

Its up already what do you want?? More increase?? I don't think so.
Economy of most of the country has collapsed already but slowly recovering because of easing of the lockdowns. Most of the people are back to work right now.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Finestream on August 14, 2020, 06:06:00 PM

That would also minimize the manipulation as institutional investors will be putting their money on the market and they won't allow the market to move abnormally again as that would affect their business venture

It's not gonna help

And I'm not so much interested in explaining this (because you don't need to be an Einstein to understand it on your own) but in finding out why people still believe that "institutional investors" are somehow going to make markets less volatile and, more specifically, how they "won't allow the market to move abnormally again". But seriously, what is it, blind faith, wishful thinking, perhaps something else?

And while we are at it, it is not institutional money that will be able to change things dramatically, but total, overwhelming real-life adoption of cryptocurrencies as currencies (read, means of payment), making speculative market pricing irrelevant and inconsequential (which is as unlikely)

Finestream

hero member

Activity: 3052

Merit: 606

Quote from: cryptoboss2020 on August 08, 2020, 09:57:13 AM

sometimes the whales manipulating with quick pumps...but we can still the real price of btc

Sometimes they manipulate the price but it has a big effect on the market, that's why it's necessary that this kind of manipulation will be eliminated.

How? By continues adoption. When the buying pressure is high, the market will be stable as most of us will just hold knowing the market is bullish.
That would also minimize the manipulation as institutional investors will be putting their money on the market and they won't allow the market to move abnormally again as that would affect their business venture.

Topic: BTC Can show economy (Read 626 times)