How influential is crypto worldwide? - page 3.

babygun

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Quote from: oktana on January 08, 2024, 04:30:21 PM

More adoption is needed but it’s not compulsory. Bitcoin has gotten quite a large attention however getting more people to know about it wouldn’t be bad. And I do not understand what you mean when you say that it won’t become what it was meant to be. What was it meant to be? How does it getting more adoption hinder it from becoming what it was meant to be? Or have I misunderstood what you said.

I think one of the problems is that many see cryptocurrency as a scam or as something that has no real value and that is an extreme risky asset to have. Every time I talk to my friends about it, they have this misconception, mainly created by the mainstream media and it is hard to change their minds.

WillyAp

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Quote from: Cryptomultiplier on January 10, 2024, 09:29:03 AM

it is most cheaper for heavy transactions with the P2p initiative, as compared to the high bank fees across borders one may have to pay for payments and transactions.

Upon how BTC performs after the ETF approval and halving, we might see more adoption worldwide with its value skyrocketing to an ATH than what it currently is. Now speak of influence in some coming months, and BTC would be first to be mentioned.

I hate to disappoint you but if you send off Crypto over exchanges you have a higher cost than using a bank wire.
Same with Bitcoin, easily you can get 50+ $ and more. Banking is cheaper many times, except for micro payments.

When the fake tweet came on the difference made was 600US$, that's between 13 and 14 %.
Not that big, it was in the beginning so not too much can be laid into it.

passwordnow

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Quote from: WillyAp on January 09, 2024, 08:52:35 AM

Quote from: passwordnow on January 09, 2024, 03:14:32 AM

Whales, financial institutions, the governments and all of those countries that are very optimistic about Bitcoin. That's how its influence is becoming larger than the time it has started so, we should be thankful and grateful for what it is achieving now.

Yes they are, unfortunately though only about its monitary value.

It is what it is because that's their business and principle. If we don't see the best out of them and are not inline with our opinion of what they should do in regard to crypto adoption, that's fine. What matters is that they're not against it and they're not trying to propose anything that can lead to Bitcoin's or all of the cryptos ban.

Quote from: WillyAp on January 09, 2024, 08:52:35 AM

They are eager to maintain the banking system and don't see what Crypto is about (IMHO).

That's normal, we cant see that they're stable businesses and backed up by the government. And if the government stand is just equal and there's no need for any prohibition, as I've said, we have to grateful with it because unlike the other countries, they don't see anything that's valuable to Bitcoin and that's why they're not also optimistic about its adoption and the impact that it can do to their economies.

Cryptomultiplier

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Quote from: so98nn on January 10, 2024, 06:34:17 AM

Frankly it seems we have very less number of users in the crypto sphere. There is simply no way to tell the exact number of peeps using the crypto because you cant predict them by number of addresses. I mean its unpredictable how many addresses one person is creating on everyday basis if not then monthly basis! It doesnt even give the slightest idea to the survey input. So I highly doubt we have 400 million users of crypto or bitcoin alone. There are multiple services, online shops, exchanges, gaming institutes, sports and gambling sites, faucets and not limited to just them who are using BTC as mode of payment. They also have auto address generator thus creating virtually N-number of addresses world wide. I would like to consider that users with crypto holding Vs share market is definitely not worth it. As mentioned in couple of posts, its also about the timeline. We are throwing a brand new asset and trying to compare it with legends who wander the earth since ages.

The influence of crypto worldwide is still not like the use of gasoline that is used almost every where for engines and household applications. Even when it is compared to forex and the stock and shares market .
The influence of BTC or cryptocurrency could be seen in how it is being presented or infused into our every day life and as regards the topic or its logos being brought up for discussion in movie scenes and during domestic conversations within colleagues and friends. Corporate bodies and agencies are also investing in it because it is by far most secure from hackers or banking services, it is most cheaper for heavy transactions with the P2p initiative, as compared to the high bank fees across borders one may have to pay for payments and transactions.

Upon how BTC performs after the ETF approval and halving, we might see more adoption worldwide with its value skyrocketing to an ATH than what it currently is. Now speak of influence in some coming months, and BTC would be first to be mentioned.

WillyAp

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Quote from: so98nn on January 10, 2024, 06:34:17 AM

As mentioned in couple of posts, its also about the timeline. We are throwing a brand new asset and trying to compare it with legends who wander the earth since ages.

Brandnew?
2009 to 2024 is an eternity in software terms.
Stocks I supose its 1611: when the first modern stock trading was created in Amsterdam.

so98nn

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Frankly it seems we have very less number of users in the crypto sphere. There is simply no way to tell the exact number of peeps using the crypto because you cant predict them by number of addresses. I mean its unpredictable how many addresses one person is creating on everyday basis if not then monthly basis! It doesnt even give the slightest idea to the survey input. So I highly doubt we have 400 million users of crypto or bitcoin alone. There are multiple services, online shops, exchanges, gaming institutes, sports and gambling sites, faucets and not limited to just them who are using BTC as mode of payment. They also have auto address generator thus creating virtually N-number of addresses world wide. I would like to consider that users with crypto holding Vs share market is definitely not worth it. As mentioned in couple of posts, its also about the timeline. We are throwing a brand new asset and trying to compare it with legends who wander the earth since ages.

Assface16678

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I think the OP already stated how influential crypto currency right now and we know about that, over the years since bitcoin emerge's there are more and more currency also created its a symbol of crypto currency being dominant and more advance and powerful than other currency or investment, although stock market is also profitable but the things is its profit takes too much time unlike bitcoin's potential profit although it is also long term but you will see the potential profit and you are sure you will gain if your analysis is right, stock market is very risky also as you are buying stocks from a business and your profit will determine on how the business performance is, if they succeed or grow more then your stocks will also make profit. But even though crypto currency is seen as more influential than any other investment, investment is still investment as long as we earn from it.

Ben Barubal

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In over a decade of Bitcoin in this industry, it has really influenced a lot of altcoins that have imitated its style. And there are altcoins that have appeared in this field that have succeeded and are still following in the footsteps of Bitcoin, in fact.

Although there are many altcoins that have fallen in the market, there are still many that can be considered successful in the crypto space, such as Ethereum, Bnb, Matic, Arb, Aptos, and others that are also going along with the market. For sure, there are more to come in the future, and they will become even more famous and noisy around the world.

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Quote from: WillyAp on January 08, 2024, 05:40:00 PM

Quote from: oktana on January 08, 2024, 04:30:21 PM

I do not understand what you mean when you say that it won’t become what it was meant to be. What was it meant to be? How does it getting more adoption hinder it from becoming what it was meant to be? Or have I misunderstood what you said.

In the whitepaper the very 1st line reads: Bitcoin: A Peer-to-Peer Electronic Cash System
It was meant to pass values from point a to point b.

Sure it does that but slower and more expensive than when the whitepaper was written.
Now its a store of value, Being that valuable plus slow makes not a good candidate for transfer. Imagine you pay me and 3 days later when the sats arrive they are worth double.

The comparison I set up to put things into perspective, Bitcoin has done a lot, without much adaptation. And why change something good?

Sorry but I still don’t understand what you’re saying. How do you pass value from point a to point b without what you’re passing being in point a? I’m asking because you mentioned that it is now a store of value…whereas that’s what currencies are known to do. Also, because it is slower than when the whitepaper was written, does it mean that more adoption isn’t needed? Volatility wasn’t mentioned in the whitepaper. Satoshi mentioned what the goal was and they delivered it. Because there’s now volatility doesn’t mean that the Bitcoin is less of a currency than it used to be.

Dzwaafu11

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Quote from: Haunebu on January 07, 2024, 08:07:18 AM

This is a bad comparison op. Comparing something like the stock exchange which is 100% centralised to crypto like BTC which is centralised only to a certain extent doesn't really make much sense to me.

BTC did what none of those companies could ever achieve which is taking some of the power from the elites and shifting it to the commoners in a small and meaningful way.

You are right. Comparing the entire crypto market to stock exchanges does not make any sense to me because these two things are operating differently. They are not even operating in the same market. The bitcoin market is operating every single second. Once you enter the bitcoin market, you will get access to it, and at the end, if you make much money from it, the crypto market will work anytime and operate on its own. However, I don't see any market that someone will even compare the crypto market to and match because these things work differently in any way.

Further, what bitcoin has done globally can even make you believe that this is incomparable. The number of people who have saved their lives from many things, like being a victim of scams, easy to buy goods, and getting access to others in another country, is enough to make you believe that there is much difference in both if this industry is just mentioned.

WillyAp

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Quote from: Upgrade00 on January 09, 2024, 01:29:56 PM

I understood what you were saying, my point was that there should be no comparison at all between the two industries,

And why not?
Bitcoin is to replace the entire FIAT System is the reigning tenor of maxis. Ist quite astonishing that maxis apparently are not aware of the very size the US$ system represents.

Due to Bitcoins value and speculative fluctuations Bitcoin cannot even be used as a medium for passing on values.

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Quote from: BenCodie on January 09, 2024, 03:12:03 AM

Firstly, I never said it needed to grow bigger than these industries...If you actually read the rest of my post instead of snipping one sentence, then you would see that I was illustrating the remaining potential of Bitcoin and cryptocurrency in comparison to national, centralized markets and stocks.

I did read the rest of your post, but I don't quote entire replies when I'm responding to them.
I understood what you were saying, my point was that there should be no comparison at all between the two industries, and that's the exact same point I was making in the first reply I made which you quoted.

Quote from: BenCodie on January 09, 2024, 03:12:03 AM

Think about it, US banking stocks are on par with Ethereum, however Ethereum is open to the entire world...what does this say about its potential? Bitcoin is on par with Tesla, a company specializing in generating revenue primarily from electric vehicles. While having a larger reach then US banking shares, its reach is still not as far as that of Bitcoin.

Definitely looks good on paper and to an extent indicates how much Bitcoin has grown in the short space of time and the remaing potential for growth. I just feel, and this is only my personal opinion, that it sets the wrong precedence and helps on the narrative that Bitcoin is about the numbers, which ultimately leads us to having holders that don't care about privacy or decentralization.

WillyAp

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Quote from: passwordnow on January 09, 2024, 03:14:32 AM

Whales, financial institutions, the governments and all of those countries that are very optimistic about Bitcoin. That's how its influence is becoming larger than the time it has started so, we should be thankful and grateful for what it is achieving now.

Yes they are, unfortunately though only about its monitary value.
They are eager to maintain the banking system and don't see what Crypto is about (IMHO).

passwordnow

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With all of the rumors about the Bitcoin Spot ETF being approved, the widespread word about bitcoin and its influence will become even bigger.

Quote from: TimeTeller on January 08, 2024, 06:15:19 PM

My opinion on this is that, let us be grateful that Satoshi created this currency, which is now considered valuable in today's market.

It's fine, people will see the flaws of a thing if they're not contented with it. The core's have to upgrade and update it but if nothing has happened, it won't change a thing or two with Bitcoin's popularity nowadays.

Quote from: TimeTeller on January 08, 2024, 06:15:19 PM

Just look at how the its market price is progressing thru the years, will give you an insight that this currency has been progressing a lot in the past years.
And just see the adoption today, and it is still growing makes you believe that this market has great potential.

There is no doubt that the change of Bitcoin coming from being a P2P e-cash system has become a store of value. Is it a problem? Not really, it has just made itself upgrade and innovated from the actual use that has been presented to its whitepaper. But did it ever change or leave that feature? No. It has added and became more of its actual use and that's a good thing IMO.

Quote from: TimeTeller on January 08, 2024, 06:15:19 PM

Consider the popular personalities as well as known companies which are already tapping this market.

Whales, financial institutions, the governments and all of those countries that are very optimistic about Bitcoin. That's how its influence is becoming larger than the time it has started so, we should be thankful and grateful for what it is achieving now.

BenCodie

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Quote from: Upgrade00 on January 08, 2024, 04:29:17 PM

Quote from: BenCodie on January 08, 2024, 03:51:33 PM

When this is considered, the suggestion that these cryptocurrencies could grow larger than some of the world's largest companies (as some, like Bitcoin, already have, is not an unreasonable one.

Firstly, Bitcoin does not have a need to grow bigger than those industries. Finances is a game of the centralized, corporate world and they have so many tricks to keep winning that game.

Bitcoin is not about the numbers game, it js an alternative to that entire system. An escape from the financial trap that the governments have set up.

Firstly, I never said it needed to grow bigger than these industries...If you actually read the rest of my post instead of snipping one sentence, then you would see that I was illustrating the remaining potential of Bitcoin and cryptocurrency in comparison to national, centralized markets and stocks.

Think about it, US banking stocks are on par with Ethereum, however Ethereum is open to the entire world...what does this say about its potential? Bitcoin is on par with Tesla, a company specializing in generating revenue primarily from electric vehicles. While having a larger reach then US banking shares, its reach is still not as far as that of Bitcoin.

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Quote from: WillyAp on January 08, 2024, 05:40:00 PM

Quote from: oktana on January 08, 2024, 04:30:21 PM

I do not understand what you mean when you say that it won’t become what it was meant to be. What was it meant to be? How does it getting more adoption hinder it from becoming what it was meant to be? Or have I misunderstood what you said.

In the whitepaper the very 1st line reads: Bitcoin: A Peer-to-Peer Electronic Cash System
It was meant to pass values from point a to point b.

Sure it does that but slower and more expensive than when the whitepaper was written.
Now its a store of value, Being that valuable plus slow makes not a good candidate for transfer. Imagine you pay me and 3 days later when the sats arrive they are worth double.

The comparison I set up to put things into perspective, Bitcoin has done a lot, without much adaptation. And why change something good?

My opinion on this is that, let us be grateful that Satoshi created this currency, which is now considered valuable in today's market.
Just look at how the its market price is progressing thru the years, will give you an insight that this currency has been progressing a lot in the past years.
And just see the adoption today, and it is still growing makes you believe that this market has great potential.
Consider the popular personalities as well as known companies which are already tapping this market.

WillyAp

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Quote from: oktana on January 08, 2024, 04:30:21 PM

I do not understand what you mean when you say that it won’t become what it was meant to be. What was it meant to be? How does it getting more adoption hinder it from becoming what it was meant to be? Or have I misunderstood what you said.

In the whitepaper the very 1st line reads: Bitcoin: A Peer-to-Peer Electronic Cash System
It was meant to pass values from point a to point b.

Sure it does that but slower and more expensive than when the whitepaper was written.
Now its a store of value, Being that valuable plus slow makes not a good candidate for transfer. Imagine you pay me and 3 days later when the sats arrive they are worth double.

The comparison I set up to put things into perspective, Bitcoin has done a lot, without much adaptation. And why change something good?

oktana

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Quote from: WillyAp on January 07, 2024, 07:49:51 AM

Quote from: oktana on January 07, 2024, 05:55:38 AM

I agree that Bitcoin still needs more adoption but to those who think it’s not gotten enough, we should look at this timeframe and compare it with companies that have just about the same value as it does.

More adaptation is not really needed. It won't become what it was meant to be. Due to speed, in times Bitcoin was developed banks took even longer to transfer money.

I only wonder why the age comes up. Being a newish commodity people should learn and not do the same as other commodities have done. But far from it. Crypto runs in the same pattern stocks were forced into regulations, KYC, rules, When Crypto Firms look for people on the employment level yohey sound exactly the same as IBM.

The crypto movement has matured and you see investments but you don't see crypto VC, or am I not seeing them although they are there?

More adoption is needed but it’s not compulsory. Bitcoin has gotten quite a large attention however getting more people to know about it wouldn’t be bad. And I do not understand what you mean when you say that it won’t become what it was meant to be. What was it meant to be? How does it getting more adoption hinder it from becoming what it was meant to be? Or have I misunderstood what you said.

Upgrade00

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Quote from: BenCodie on January 08, 2024, 03:51:33 PM

When this is considered, the suggestion that these cryptocurrencies could grow larger than some of the world's largest companies (as some, like Bitcoin, already have, is not an unreasonable one.

Firstly, Bitcoin does not have a need to grow bigger than those industries. Finances is a game of the centralized, corporate world and they have so many tricks to keep winning that game.

Bitcoin is not about the numbers game, it js an alternative to that entire system. An escape from the financial trap that the governments have set up.

BenCodie

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Quote from: Upgrade00 on January 02, 2024, 09:55:12 AM

Comparing both industries with very different launch times does not give any accurate suggestions.

I think that comparing the industries does provide suggestions of the potential of the crypto sector once you take into account that Cryptocurrency is a 24/7 market, accessible to all worldwide...while the listed companies are limited to the stock exchange, limited to be traded on centralized platforms, and not accessible by everyone around the globe 24/7.

When this is considered, the suggestion that these cryptocurrencies could grow larger than some of the world's largest companies (as some, like Bitcoin, already have) is not an unreasonable one.

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