BTC Can show economy | Bitcointalksearch.org

giammangiato

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

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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

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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

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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.

deisik

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Quote from: Oasisman on August 08, 2020, 05:46:06 PM

Stimulus check could be one of the reasons, but that's still unexpected. Do you expect people to go on investing rather than securing the basic necessities during this time of pandemic?

There may be a place for selection bias

If millions of people are laid off, it doesn't mean that such a narrow market as Bitcoin should necessarily crash. A very particular situation is possible when people who have money will continue investing in what they consider worthy assets (following Baron Rothschild's and Warren Buffett's wisdom), but people who don't have money anymore didn't invest in cryptocurrencies anyway even when they were better off than now. Put simply, it is impossible to tell how it is going to play out in practice as you can see a plethora of things that would seemingly defy logic and common sense

Quote from: Oasisman on August 08, 2020, 05:46:06 PM

Though everything happened for a reason, but that doesn't mean everything is expected. Now, do you have any other reasons on your mind why Btc pumped? Since you said nothing is unexpected

It is not Bitcoin that is pumped right now

naikturun

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if you compare it with gold of course there is a very large difference in the amount of gold or the use is very large around the world, so a more accurate value I think gold, does not guarantee that if BTC goes down gold will also go down and vice versa because they have different markets.

Natalim

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Quote from: GeorgeJohn on August 14, 2020, 07:08:58 AM

So therefore I dispute the fact that when bitcoin falls, economy of a country also fall and when bitcoin rise,economy of country also rise.

If we talk of economy, every country has different economic status, some are progressive some are not, but bitcoin is not tied to one country, therefore we can say that it will rise when the economy will rise, anything can happen, depending on the situation.

For example, one country is hit by hyper inflation and they use bitcoin to hedge it, that would result to a demand of bitcoin and it will help to increase the price but since bitcoin is global asset, other countries performance could also affect it and it might or might not rise.

GeorgeJohn

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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 can only affect economy of a country when the country adventure or invest into cryptoccurrency so therefore when btc Price reduces it will affect the economy of a country seriously, so in a processes where by the management of a country economy resources have know idea into cryptoccurrency and btc fall's, it will never affect such country economy, because such country is not investing in cryptoccurrency network.
So therefore I dispute the fact that when bitcoin falls, economy of a country also fall and when bitcoin rise,economy of country also rise.

fiulpro

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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

Unfortunately no , the economic situation if any country perse is not related to the price of the Bitcoins since most of the time we have to take care of the fact that more than 50% Investors are whales and they don't get affected by things like this .

It should be understood that even right now during the pandemic when Bitcoins were supposed to go down , they did not , they maintained the stable system for a little while and later on rose in price only to be sitting down waiting for a big wave against the resistance.

Bitcoin and economy don't go hand in hand , even though there is a connection between the centralized and the non centralized market it's not that deep to share similar steps on the way.

But then again we shall remember that amongst all cryptocurrencies Bitcoins is the one that is the most Interrelated with the economy.

Here is a image to show you how different cryptocurrencies dominate the market which can be corelated to the small connection they have with the world's economy.

verita1

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When I see an advertisement by Galaxy fund management and which in turn has been endorsed by Barry Silvet, a major cryptocurrency investor. I tell myself let's continue believing in Bitcoin because it will be developing an important role in the economy. It is true that we are concerned about the whales and the instability of prices and we are alert to the risk. Since we are in crypto we must not give up. I think better times are ahead.

https://galaxyfundmanagement.com/insights/pr-newswire/

https://twitter.com/barrysilbert/status/1293882537492840449?s=19

radjie

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Quote from: Salauddin1994 on August 11, 2020, 01:38:12 PM

Bitcoin has nothing to do with the economic downturn. Although the economy is down Bitcoin is pumping a lot. I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy. While the economy has not grown the prices of bitcoin and gold have risen sharply. Bitcoin is more in demand than gold Bitcoin is a stable currency and whales influence the market but bull run prices increase.

Bitcoin is not affected by the world economy which is in a downturn, on the contrary Bitcoin and gold can increase when there is a world economic downturn, because the early history of Bitcoin was created by developers aiming to help the economy even Bitcoin was created when the world crisis occurred at that time. Many people realize that investing in Bitcoin and gold is very promising, but Bitcoin and gold certainly have different characteristics regarding their price movements

cryptoboss2020

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Quote from: usekevin on August 12, 2020, 02:31:14 PM

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

The price of bitcoin every day make a sense of two things.Firstly flow of dollar in the market and increase of bitcoin flow.But my suggestion, bitcoin alone is not enough to judge a Economy. Whenever gold price increase, you can find on oil.Like this, whenever bitcoin prices vary, surely it reflect on other altcoin and Ethereum. Holding is all time essential one.Use it wisely to get huge profit.

yes btc is not enough but it can show

but its all been like same game all over again.

number1 banks printing money and lending out.....

number 2 people have a lot money to invest risk assets like gold and btc will go up....

number 3. the money is not printed anymore money goes to assets sellers hands....like btc sellers.

number 4. last money will be squeezed out ... banks dont print and dont lend anymore.......

number 5 no more new buyers assets prices start fall.....the whales and big sellers get rid of the last risk assets they collect the most cash...

number 6 no money businesias going to bangrucpy.....everyhing is sad... btc whales have now a lot cash waiting until all the markets crashing completly...

number 7 now its the best part assets are cheap time to buy

number 8 goverments and banks see people have no money ...they start again they swich on the printers lower the intrest rates...

numbe 9 everybody got money banks printing more btc whales have now btc with cheap price time sell again to retail investors who go money

number 10......and repeating the proccess all over again and again ............

usekevin

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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

The price of bitcoin every day make a sense of two things.Firstly flow of dollar in the market and increase of bitcoin flow.But my suggestion, bitcoin alone is not enough to judge a Economy. Whenever gold price increase, you can find on oil.Like this, whenever bitcoin prices vary, surely it reflect on other altcoin and Ethereum. Holding is all time essential one.Use it wisely to get huge profit.

cryptoboss2020

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Quote from: Arkann on August 12, 2020, 11:35:00 AM

It seems to me that the government is the only one to suffer from Bitcoin use. The government will become poorer due to the fact that they will not be able to manipulate the economy by printing large amounts of paper money. But thanks to Bitcoin, people's savings will have permanent value.

complete nonsense!!

Grin

goverment dont print money its bankers who do this and lending to goverments and small banks and financial institutons.

Arkann

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It seems to me that the government is the only one to suffer from Bitcoin use. The government will become poorer due to the fact that they will not be able to manipulate the economy by printing large amounts of paper money. But thanks to Bitcoin, people's savings will have permanent value.

cryptoboss2020

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Quote from: giammangiato on August 12, 2020, 05:24:04 AM

Bitcoin is born in opposite to the economy that we know, it's more near to the tehoric perfection of economy in a decentralized market when the single users make the price and are own of their money

Decentralisation Sounds like Some marxist ideology... Lol 😀😀

erikoy

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Yes of course, Bitcoin now is one of the largest currency if considered among other fiat currency that has a good market capitalization compared to other currency around the world.

It really can show as I have check on coinmarketcap bitcoin is huge already and many are fan of holding it. Even myself wanted to get a btc is enough already to build a house in our place.

giammangiato

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Bitcoin is born in opposite to the economy that we know, it's more near to the tehoric perfection of economy in a decentralized market when the single users make the price and are own of their money

bits4books

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Crypto is not a religion but i like it

The wind can actually show the weather
I think when the wind stops blowing-the weather stands and the clouds do not move and if the wind blows then we are waiting for a shift in the clouds and the trees will wobble
if the wind is still blowing in this bad weather situation, we can expect that weather situation will be more severe, and if the wind becomes weaker or stops blowing in the next few months, we have serious problems... then all the weather will rise and not a blade of grass will move
so guys let's look at the strength of the wind and find out the weather
You are witing obvious things, isn’t it?

cryptoboss2020

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Quote from: Botnake on August 11, 2020, 05:37:21 PM

Quote from: cryptoboss2020 on August 11, 2020, 01:49:58 PM

Quote from: Salauddin1994 on August 11, 2020, 01:38:12 PM

Bitcoin has nothing to do with the economic downturn. Although the economy is down Bitcoin is pumping a lot. I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy. While the economy has not grown the prices of bitcoin and gold have risen sharply. Bitcoin is more in demand than gold Bitcoin is a stable currency and whales influence the market but bull run prices increase.

I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy.

?? what ? Shocked

.. how the bitcoin investment is helping to improve the countrys economy`?

i cant belive i even read this here? bitcoin is store to funds and move funds nothing less nothing more.

You are right, at the moment, it's not helping the economy yet, it's more on a payment system or an speculative asset.
Only massive adoption can help the economy when businesses are ready and willing to accept bitcoin and we can transact worldwide easily since everyone is using bitcoin already. The way to help the economy now is to continue running the economy, we should not stop because of the pandemic, let's accept it and live with it with proper protocol so we will not be affected.

I believe the reason why bitcoin rise now is because some investors are worried about our economy, they want to safe their fiat from getting devalued, so they used bitcoin as as store of value and bitcoin has given them at the moment due to its bullish price.

I think some OTC exchangers the whales want just btc price to Higher

Botnake

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Quote from: cryptoboss2020 on August 11, 2020, 01:49:58 PM

Quote from: Salauddin1994 on August 11, 2020, 01:38:12 PM

Bitcoin has nothing to do with the economic downturn. Although the economy is down Bitcoin is pumping a lot. I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy. While the economy has not grown the prices of bitcoin and gold have risen sharply. Bitcoin is more in demand than gold Bitcoin is a stable currency and whales influence the market but bull run prices increase.

I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy.

?? what ? Shocked

.. how the bitcoin investment is helping to improve the countrys economy`?

i cant belive i even read this here? bitcoin is store to funds and move funds nothing less nothing more.

You are right, at the moment, it's not helping the economy yet, it's more on a payment system or an speculative asset.
Only massive adoption can help the economy when businesses are ready and willing to accept bitcoin and we can transact worldwide easily since everyone is using bitcoin already. The way to help the economy now is to continue running the economy, we should not stop because of the pandemic, let's accept it and live with it with proper protocol so we will not be affected.

I believe the reason why bitcoin rise now is because some investors are worried about our economy, they want to safe their fiat from getting devalued, so they used bitcoin as as store of value and bitcoin has given them at the moment due to its bullish price.

cryptoboss2020

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Quote from: Salauddin1994 on August 11, 2020, 01:38:12 PM

Bitcoin has nothing to do with the economic downturn. Although the economy is down Bitcoin is pumping a lot. I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy. While the economy has not grown the prices of bitcoin and gold have risen sharply. Bitcoin is more in demand than gold Bitcoin is a stable currency and whales influence the market but bull run prices increase.

I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy.

?? what ? Shocked

.. how the bitcoin investment is helping to improve the countrys economy`?

i cant belive i even read this here? bitcoin is store to funds and move funds nothing less nothing more.

Salauddin1994

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Bitcoin has nothing to do with the economic downturn. Although the economy is down Bitcoin is pumping a lot. I think BTC can show the economy because in the current situation bitcoin investment is helping to improve the country's economy. While the economy has not grown the prices of bitcoin and gold have risen sharply. Bitcoin is more in demand than gold Bitcoin is a stable currency and whales influence the market but bull run prices increase.

cryptoboss2020

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Quote from: adzino on August 10, 2020, 02:52:48 PM

Show economy? Like how? The rise and fall of the price of bitcoin no way indicates the economy of the world. Lets say a whale dumped all his holding, does this mean the economy is going bad? Let say everyone started to invest on bitcoin due to government making it legal and then the price started to skyrocket. So after passing the law, does this mean that the global economy is going up? Lets say the value of USD started to fall due to bad economy. You will see that the price of bitcoin is rising (which means that you can buy less bitcoin with more USD since the value of USD is now weak), which goes against your fact.

uhhhh.....not worthed even to comment this i tought i dont know nothing ...but men honestly read again and think over your comment here

specially what u said about value of USD and bad economy

cryptoboss2020

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Quote from: adzino on August 11, 2020, 11:36:43 AM

Quote from: cryptoboss2020 on August 11, 2020, 09:16:53 AM

Guys You replies doesnt make much sense here
Where is your knowledge Come from? From book?
School?? TV news???

My knowledge Come from real life That's Why I see things different and what I seen in my life is different then You Can learn in any school or read a book

Let me see at least one smart guy here and I Give You merit... Then Everybody Can look Up to him and learn from his knowhow...

Lol, you just quoted my answer and said that you respect peoples opinion, but look at you over here. Cute how you think knowledge from other sources (except real life experience) is all "fake". All those knowledge in books comes from your "real life".
Please provide us with facts that can support your claim - "BTC can show economy" instead of acting all cocky Wink

.

but btc is a asset... and assets are cheap when no money to buy it.thats how we know economy for me economy is how money is in circlelation.
i use to think like many guys here and i was wrong and now i undestood how it all works.

if i would knew 10 years ago what i know today right here and right now i would be rich and wealthy as hell by now:)

adzino

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Quote from: cryptoboss2020 on August 11, 2020, 09:16:53 AM

Guys You replies doesnt make much sense here
Where is your knowledge Come from? From book?
School?? TV news???

My knowledge Come from real life That's Why I see things different and what I seen in my life is different then You Can learn in any school or read a book

Let me see at least one smart guy here and I Give You merit... Then Everybody Can look Up to him and learn from his knowhow...

Lol, you just quoted my answer and said that you respect peoples opinion, but look at you over here. Cute how you think knowledge from other sources (except real life experience) is all "fake". All those knowledge in books comes from your "real life".
Please provide us with facts that can support your claim - "BTC can show economy" instead of acting all cocky Wink

.

cryptoboss2020

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Activity: 322

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Guys You replies doesnt make much sense here
Where is your knowledge Come from? From book?
School?? TV news???

My knowledge Come from real life That's Why I see things different and what I seen in my life is different then You Can learn in any school or read a book

Let me see at least one smart guy here and I Give You merit... Then Everybody Can look Up to him and learn from his knowhow...

hahay

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The price of bitcoin has so far risen from its recovery and so is gold, at least it has recovered so far or is there a certain point for bitcoin price itself to be a safe point or will be a problem, as bitcoin price stabilizes in the 11k range already very good when compared to the previous increase which happened several times but also continued to fall when it hit 10k. So with the current situation I'm sure the crypto market is doing very well and about economic collapse or not, it depends on the pandemic that is the factor for the collapse of an economy for now and not about the price of bitcoin I guess.

cryptoboss2020

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Quote from: adzino on August 10, 2020, 02:52:48 PM

Show economy? Like how? The rise and fall of the price of bitcoin no way indicates the economy of the world. Lets say a whale dumped all his holding, does this mean the economy is going bad? Let say everyone started to invest on bitcoin due to government making it legal and then the price started to skyrocket. So after passing the law, does this mean that the global economy is going up? Lets say the value of USD started to fall due to bad economy. You will see that the price of bitcoin is rising (which means that you can buy less bitcoin with more USD since the value of USD is now weak), which goes against your fact.

You and i think different i see but our toughts and world views comes from the experinces and knowledge we have in life.
i guess your knowledge and experinces are different then i have thats why youhave different opinon.
thats why all the people have different point of view of everything.

i do respect your opinion even if you are wrong thats not your fault its just the community or the experince what you have done where you been are that kind of that makes your opinion about things how write here on forum.
but im not aright person to tell anyone if they are wrong or right .....who i am??? im just newbie here;)

adzino

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Show economy? Like how? The rise and fall of the price of bitcoin no way indicates the economy of the world. Lets say a whale dumped all his holding, does this mean the economy is going bad? Let say everyone started to invest on bitcoin due to government making it legal and then the price started to skyrocket. So after passing the law, does this mean that the global economy is going up? Lets say the value of USD started to fall due to bad economy. You will see that the price of bitcoin is rising (which means that you can buy less bitcoin with more USD since the value of USD is now weak), which goes against your fact.

bearexin

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For some people bitcoin is bigger than what it actually is, people think that there is so much money in the world right now going into bitcoin that if price of bitcoin goes down a lot they would actually lose a ton of money and that means the whole world should lose money and think that if it affects them this much that means it should affect everyone that much and if everyone is affected as much as him that means world will go into economical collapse.

In reality there are not that many people who are interested in bitcoin, only a few people compared to total world population that is interested in bitcoin or crypto, and the ones who are interested are not all in, only a few of them are all in. Which means there would be some effected but it is a fraction of the world population.

Ucy

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Compare rates on different exchanges & swap.

I wonder what economy Op is referring to. Worldwide economy or his own particular economy? I really don't focus too much attention on overall economy for now. I tend focus more on available prices of goods and services in local markets and whether people are working or not. I am not sure if price of Bitcoin going up or down does affect anything in local markets especially the essentials. Things produced by the locals tend to be stable always while the factory made ones esp, from other states or countries tend to increase a bit in prices & this probably happened once or few times

abhiseshakana

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Quote from: tbterryboy on August 09, 2020, 11:35:34 PM

There is fundamental wrongs in the calculation. When the economy is down, bitcoin is not down all the time.

For example, there was a lot of money printed and stock markets could look great because those printed money did ended up in the pockets of the shareholders via the companies that got the money, but people are still unemployed.

The so called "richest country in the world" USA has record breaking unemployed rate right now and they are doing so bad that the government itself has to pay people to stay alive, companies are not paying wages that were already very low anyway and asking for government hand out.

Overall economy is terrible, yet somehow bitcoin is higher, which shows you that bitcoin can be up while economy is down, just not macro economy but the micro one.

Even though bitcoin is not correlated with the economy in the real sector, in fact it does not stand the test of the pandemic, it is evident that bitcoin experienced a decline in price in March. The majority of people still have the view that cash is king and the king of fiat money is dollar. So that when a pandemic occurs people prefer to withdraw their investment and hold dollars for safety purposes.

The increase in the price of bitcoin is proof that crypto is still in demand amid a pandemic. In addition, government policies that have begun to accommodate cryptocurrencies have increased demand for bitcoin even though it has no direct influence on the price of bitcoin.

tbterryboy

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There is fundamental wrongs in the calculation. When the economy is down, bitcoin is not down all the time.

For example, there was a lot of money printed and stock markets could look great because those printed money did ended up in the pockets of the shareholders via the companies that got the money, but people are still unemployed.

The so called "richest country in the world" USA has record breaking unemployed rate right now and they are doing so bad that the government itself has to pay people to stay alive, companies are not paying wages that were already very low anyway and asking for government hand out.

Overall economy is terrible, yet somehow bitcoin is higher, which shows you that bitcoin can be up while economy is down, just not macro economy but the micro one.

cryptoboss2020

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and finally with all this we get to the point we start understood the world evertyhing is just manipulated,period.

to know this will take motivation to try to be successful, its like start playing cards and your opponent have way better cards then you.

Reatim

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Eloncoin.org - Mars, here we come!

Quote from: cryptoboss2020 on August 09, 2020, 03:10:48 AM

Quote from: Shasha80 on August 09, 2020, 03:03:55 AM

Sorry, I don't agree that Bitcoin can show economy conditions, because not always when Bitcoin goes up it makes the economy healthy.
Or when Bitcoin is down, the economy will go down or collapse, if that happens it's just a coincidence. The proof is that now all countries
are experiencing a crisis economy and the stock market is also down, but Bitcoin shows an upward trend.So Bitcoin can't show economy.

it can show it goes up coz the whales are manipulating with btc.
whales who got cash are wealthy indviduals and most wealthy indviduals have the most of the cash after economic bubble
remember rich stock holders sold their stocks just before the covid.

And same effects will go with bitcoin, if whales push and manipulates the market, bitcoin value will without any effects with the economy.

We always needs to check the balance and how investors are following and supporting the assets, if more investors that will be interested inside then it will helps the economy.

But if there are just few wealthy people that decide the market it won't effect that much
Economy will continue to rise or fall depends from the people that surround it.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: cryptoboss2020 on August 09, 2020, 05:50:50 AM

Quote from: Latviand on August 09, 2020, 05:47:43 AM

Quote from: jackg on August 08, 2020, 10:15:12 AM

It's probably more dependent on the US dollar psychologically I'd say.

But this time, during economic crisis, we felt some improvement in bitcoin's price although we are suffering this pandemic. It increases from $9k to $11.7k USD which is good for everyone.

How can you say that bitcoin can show economy?

So probably you're saying that whales can somehow help our economy grow if they want to, they are our hope towards economic success?

Bitcoin is more volatile depending on the factors that can affect it, somehow coincidences are happening in the market.

How can you say that bitcoin can show economy?

So probably you're saying that whales can somehow help our economy grow if they want to, they are our hope towards economic success?

what? Huh

whales can not help economy !! omg ....i dont get it why u say this???
this is not my point here!

the whales are just rich indviduals with big cash period!!

Actually if we have a good cycle, medium sized positions (probably people with 2btc to 100btc will be looking to cash out into other places....

I'm planning on buying stocks when we're near what I assume will be the top of the market and buy back if we fall or find another way to accumulate the same btc.

The largest whales will just crash bitcoin by exiting though...

cryptoboss2020

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Quote from: Latviand on August 09, 2020, 05:47:43 AM

Quote from: jackg on August 08, 2020, 10:15:12 AM

It's probably more dependent on the US dollar psychologically I'd say.

But this time, during economic crisis, we felt some improvement in bitcoin's price although we are suffering this pandemic. It increases from $9k to $11.7k USD which is good for everyone.

How can you say that bitcoin can show economy?

So probably you're saying that whales can somehow help our economy grow if they want to, they are our hope towards economic success?

Bitcoin is more volatile depending on the factors that can affect it, somehow coincidences are happening in the market.

How can you say that bitcoin can show economy?

So probably you're saying that whales can somehow help our economy grow if they want to, they are our hope towards economic success?

what? Huh

whales can not help economy !! omg ....i dont get it why u say this???
this is not my point here!

the whales are just rich indviduals with big cash period!!

Latviand

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Quote from: jackg on August 08, 2020, 10:15:12 AM

It's probably more dependent on the US dollar psychologically I'd say.

But this time, during economic crisis, we felt some improvement in bitcoin's price although we are suffering this pandemic. It increases from $9k to $11.7k USD which is good for everyone.

How can you say that bitcoin can show economy?

So probably you're saying that whales can somehow help our economy grow if they want to, they are our hope towards economic success?

Bitcoin is more volatile depending on the factors that can affect it, somehow coincidences are happening in the market.

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: cryptoboss2020 on August 09, 2020, 03:00:08 AM

Quote from: Rengga Jati on August 08, 2020, 06:55:20 PM

Probably, but now, now, in fact, BTC is not the indicator of how the global economy shows. For example, is that during the pandemic in several months. the global economy faces some crisis. but the BTC price can make some increase in the market although it is not at a high rate.

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

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

You may remember what happened to the price of BTC at the end of 2018 to 2019. the price of the BTC was in a very bearish situation. It was likely not going up. But the global economy didn't show the crisis or collapse at that time. Should we make the BTC price as an indicator?

2019 was crisis all ready just no panic yet 2020 it couldn hold on any longer and bubble poppped

Yes, in 2019, we saw the crisis, but it's happening in the crypto, and not all economies in all countries have the same thing as in crypto. I wonder what will happen if the bubble popped, is it go down, or is it go up? Because these two option is what we have now. But I am sure that sooner or later, bitcoin price goes up more than the price now, and the bitcoin price will touch the new ATH, no matter if it happens this year or next year.

Quote from: Shasha80 on August 09, 2020, 03:03:55 AM

Sorry, I don't agree that Bitcoin can show economy conditions, because not always when Bitcoin goes up it makes the economy healthy.
Or when Bitcoin is down, the economy will go down or collapse, if that happens it's just a coincidence. The proof is that now all countries
are experiencing a crisis economy and the stock market is also down, but Bitcoin shows an upward trend.So Bitcoin can't show economy.

Yeah, bitcoin is not part of the economic conditions now (not yet). Bitcoin still stands alone without interfering with the economy, but bitcoin gives people a chance to make money. We see what bitcoin can do right now, and the trend still increases, so what we need now is the increases in the bitcoin price.

cryptoboss2020

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Quote from: Shasha80 on August 09, 2020, 03:03:55 AM

Sorry, I don't agree that Bitcoin can show economy conditions, because not always when Bitcoin goes up it makes the economy healthy.
Or when Bitcoin is down, the economy will go down or collapse, if that happens it's just a coincidence. The proof is that now all countries
are experiencing a crisis economy and the stock market is also down, but Bitcoin shows an upward trend.So Bitcoin can't show economy.

it can show it goes up coz the whales are manipulating with btc.
whales who got cash are wealthy indviduals and most wealthy indviduals have the most of the cash after economic bubble
remember rich stock holders sold their stocks just before the covid.

Shasha80

sr. member

Activity: 1876

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Sorry, I don't agree that Bitcoin can show economy conditions, because not always when Bitcoin goes up it makes the economy healthy.
Or when Bitcoin is down, the economy will go down or collapse, if that happens it's just a coincidence. The proof is that now all countries
are experiencing a crisis economy and the stock market is also down, but Bitcoin shows an upward trend.So Bitcoin can't show economy.

cryptoboss2020

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Quote from: Rengga Jati on August 08, 2020, 06:55:20 PM

Probably, but now, now, in fact, BTC is not the indicator of how the global economy shows. For example, is that during the pandemic in several months. the global economy faces some crisis. but the BTC price can make some increase in the market although it is not at a high rate.

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

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

You may remember what happened to the price of BTC at the end of 2018 to 2019. the price of the BTC was in a very bearish situation. It was likely not going up. But the global economy didn't show the crisis or collapse at that time. Should we make the BTC price as an indicator?

2019 was crisis all ready just no panic yet 2020 it couldn hold on any longer and bubble poppped

rollingdice

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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.

Could you explain it, please? Why will the economy collapse if Bitcoin goes down? Bitcoin isn't the world reserve currency or the store of wealth.

DoubleEdgeEX

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Eventually everything will come down to one thing, Trust! Since no main currency has any intrinsic value, the level of trust in a fiat and even more in the economy of the issueing country is crucial. The paradigm change of fiats to cryptos and limiting the amount of money in circulaton will need decades, too many old farts are in control to make it go faster. Until then, a well balanced portfolio of BTC, Gold and blue chip stocks could help make nice profits everywhere on the markets

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Probably, but now, now, in fact, BTC is not the indicator of how the global economy shows. For example, is that during the pandemic in several months. the global economy faces some crisis. but the BTC price can make some increase in the market although it is not at a high rate.

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

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

You may remember what happened to the price of BTC at the end of 2018 to 2019. the price of the BTC was in a very bearish situation. It was likely not going up. But the global economy didn't show the crisis or collapse at that time. Should we make the BTC price as an indicator?

sheenshane

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Quote from: cryptoboss2020 on August 08, 2020, 03:53:07 PM

mark my word btc will be correlation with stocks gold....im sure the wall street guys will buy up now to prepare for the bull run.

IMO, at the first glance of Bitcoin I thought that they had a correlation between to traditional stock market price, but recently when pandemic started to hit the whole world and all traditional stock dominance was going down. But Bitcoin was different among them, it was continued rising up until this recent day we witness the improvement of Bitcoin to the market. I convinced my self not to believed that there's a bot correlation between this two valuable stuff in the market, if there is it might near close but it doesn't mean the traditional and crypto market price have correlation.

But yes, I tend to agree with you. The most anticipating to all is to have bull market this year. It could be reached to $100k Bitcoin price this year.

Oasisman

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Quote from: cryptoboss2020 on August 08, 2020, 01:38:39 PM

Quote from: dothebeats on August 08, 2020, 01:29:04 PM

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

Stimulus check could be one of the reasons, but that's still unexpected. Do you expect people to go on investing rather than securing the basic necessities during this time of pandemic? There were thousands rather millions of people who lost their job from all over the world because of the rise in number of infected people.
Though everything happened for a reason, but that doesn't mean everything is expected. Now, do you have any other reasons on your mind why Btc pumped? Since you said nothing is unexpected.

Baofeng

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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.

I would say that there are correlations, but it's not that accurate though.

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

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

2017 was a good example, bitcoin reaches its all time high, but world economy didn't collapse. I think it's more of a shift of investments. Whales? they have been here in the market for so long, and as the market grows their influence dwindles.

livingfree

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Sort of connected to the entire economy but not that really.

It has its own economy and sometimes it follows but sometimes it's not. Remember when the oil plummeted? we haven't seen bitcoin to be drowning itself too just like oil

Instead, it's moving separately and higher.

cryptoboss2020

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Quote from: hatshepsut93 on August 08, 2020, 03:47:40 PM

Up until the coronavirus, Bitcoin showed very little correlation with real world events, even with the global economic trends. But we all know how it reacted to the quarantine-caused market crash, and now it seem to move together with other assets. So, in general Bitcoin isn't any sort of macroeconomic indicator, it just got affected by the crash, but soon this correlation will end, because Bitcoin has its own market forces.

mark my word btc will be correlation with stocks gold....im sure the wall street guys will buy up now to prepare for the bull run.

thats all the game all about

off course if they let out second wave of corona to drop prices even more to buy assets with even cheaper prices.

hatshepsut93

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Up until the coronavirus, Bitcoin showed very little correlation with real world events, even with the global economic trends. But we all know how it reacted to the quarantine-caused market crash, and now it seem to move together with other assets. So, in general Bitcoin isn't any sort of macroeconomic indicator, it just got affected by the crash, but soon this correlation will end, because Bitcoin has its own market forces.

cryptoboss2020

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Quote from: Coyster on August 08, 2020, 02:55:48 PM

Quote from: cryptoboss2020 on August 08, 2020, 01:38:39 PM

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

How many countries other than the United States issued stimulus checks to it's citizens, and how many citizens would use their stimulus bonuses to buy cryptocurrencies, mind you this cheque was meant to give people funds to meet some of their needs since they couldn't go to work and it is difficult to make money during this period; the stimulus cheque did nothing to move btc from 9k to 11k.

its whales then whales the OTC exchangers its economic crisis...remember rich people have the most of the money in crisis but not much of the assets.

now this whales are buying to make btc price to go up to start selling btc with OTC higher

Coyster

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Quote from: cryptoboss2020 on August 08, 2020, 01:38:39 PM

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

How many countries other than the United States issued stimulus cheques to it's citizens, and how many citizens would use their stimulus bonuses to buy cryptocurrencies, mind you this cheque was meant to give people funds to meet some of their needs since they couldn't go to work and it is difficult to make money during this period; and tbh I am sure a large chunk of that money went into stuffs like food, paying bills and other house needs. The stimulus cheque did nothing to move btc from 9k to 11k.

cryptoboss2020

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Quote from: dothebeats on August 08, 2020, 01:29:04 PM

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

everything happens for rreason .... nothing really unexpected one of the reasons are stimulus cheques.
connect the dots use yourbrain

dothebeats

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Cashback 15%

You can say that bitcoin can serve as an economic indicator at times. There are a lot of facets in the economy that bitcoin can't check, although some movements on some assets can be related to bitcoin quite easily. But the recent surge in price from $9k to high $11k is unexpected since the whole world is still struggling to get the economy stable since people can't still go out and a lot are still losing jobs on the daily. In times like this, you would expect that each and every asset would fail, but bitcoin tells us otherwise.

cryptoboss2020

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Quote from: Nhor1011 on August 08, 2020, 10:47:46 AM

Economic situation now is not depends on bitcoin because they have a different state. Economy now is down caused of this covid 19 pandemic but you can see bitcoins value is climbing up. Do you think it has an impact to the economy? I think there's no impact because if you can see our economy now ,maybe you will think deeply and ask to your self if bitcoin really helps the economy. Economic situation now in our country is getting worst everyday as the covid positive keep on increasing like it will never end.

to be very honest with you first, economy is not down beacouse of covid the economy had problems before covid !!

and read properly did i said economic situation depends on bitcoin??? no i didnt please read again !!!

cryptoboss2020

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one of the reason why btc was going up so fast before the 2017 that In May 2013, Liberty Reserve was shut down .......
many LR customers turned into bitcoin that time , the LR customers and users needed new method and the BITCOIN was perfect.

and then 2013 the btc price spiked up.

Nhor1011

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Daxetoken.net

Economic situation now is not depends on bitcoin because they have a different state. Economy now is down caused of this covid 19 pandemic but you can see bitcoins value is climbing up. Do you think it has an impact to the economy? I think there's no impact because if you can see our economy now ,maybe you will think deeply and ask to your self if bitcoin really helps the economy. Economic situation now in our country is getting worst everyday as the covid positive keep on increasing like it will never end.

cryptoboss2020

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Quote from: Reid on August 08, 2020, 10:30:10 AM

I don't want to put it that way since it was created in a year of a financial crisis.
What are whales for you?
If they are just the big part of bitcoin then would you stay?
As you said that means manipulation. They could easily make waves with just a single click.
Would you like that?

As of economy, now there is pandemic. Economy is down.
But look at bitcoin.
Would you really rely on bitcoin movement for the growth or fall of the economy?

whales are just like the wholesellers on the oil market they sell/buy BTC By OTC ,then once they got enough they send it to big exchangers i realised this by doing deal with my OTC excahnger....then i was checking the wallet ,and i saw that he sent huge ammount of crypto into the one of the biggest excahngerand guess what??? after that the price was dropped...lol Cheesy

but life is like big school you learn everyday something new.

im old men in crypto:)

and yes i can say things about economy by just looking the btc price Wink

Bttzed03

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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.

bitcoin chart doesn't agree. BTC price soared to $12K recently after being held at $9K for many weeks but the economy in most, if not all, countries is still down due to the pandemic.

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.

This doesn't sound right. If investors decide to move away from bitcoin causing a major sell off and transfer their money to other markets, that doesn't mean the economy is going to collapse.

Reid

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I don't want to put it that way since it was created in a year of a financial crisis.
What are whales for you?
If they are just the big part of bitcoin then would you stay?
As you said that means manipulation. They could easily make waves with just a single click.
Would you like that?

As of economy, now there is pandemic. Economy is down.
But look at bitcoin.
Would you really rely on bitcoin movement for the growth or fall of the economy?

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

It's probably more dependent on the US dollar psychologically I'd say.

There are a lot of French, German and British traders too (last I checked French and German nodes alone outnumbered the US) and therell be a lot of people in other currencies that don't correlate to the dollar but will see the price go up compared to it (a lot of forex players seem to think the dollar is pretty weak now too). Meaning more funds might go into bitcoin to save people's assets...

cryptoboss2020

member

Activity: 322

Merit: 14

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

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