Topic: I think we can take pride that we didn't need a stimulus bill for btc - page 2. (Read 345 times)

The panic is what caused the dollar to need a "stimulus bill," as people are afraid and thus they will spend more money on purchasing the basics, forcing them to use cash.
The economy froze and many aspects of normal life stopped, which makes us panic, in addition to the increasing numbers of injuries and deaths.
As for the reason why Bitcoin does not need a "stimulus bill", it is because people use it as an investment tool and not as a currency for the purchase of essentials and therefore we have seen a rapid rebound.

Most of the companies that governmental bodies strive to keep alive are the ones which are usually placed on a double edged sword .
It might be beneficial for someone and causing a lot of loss for others
Then comes the corruption , it is really funny how with a little money people can change laws according to that dragging companies which could have been supporting a lot of people with them.
But with Bitcoins
There is no governmental body , there is no centralized authority , there is no corruption (disregard for the fact that most of the times whales try and collaborate to change the market price according to them)

Maybe in the history of mankind , nor monarchy, nor democracy nor dictatorship is a good idea .

We need a new form of government which can actually cope up with the real needs of the people.

This is what Bitcoin is showing us , day by day it is becoming more apparent that the current system needs to be broken down and be rebuilded

Bitcoin is not a traditional asset. So the stimulus bill, that works in a centralized conomy, may have a disastrous effect on bitcoin. In a centralized economy, stimulus is provided by increasing liquidity or by printing more money. Just imagine, what would happen if the block reward of bitcoin increases in the name of stimulus - the price will be reduced drastically! So traditional stimulus won't work in crypto market.

Also, I believe your statement is not entirely true here! We indeed are waiting for the upcoming halving in few months of time. That's what is working as a stimulus befitting the decentralized and deflationary nature of bitcoin.

Perhaps the reason we have rebounded more strongly than the traditional markets is precisely because we didn't have a stimulus bill.

Anecdotally, I'm seeing more family, friends, colleagues, media stories, etc., expressing concern at the rate at which money is being printed, much more than I remember seeing back in 2008. More people are looking at the dollar and feeling uneasy about its future. Uneasy at the fact that trillions can be printed in a day and there is nothing you or I can do about it. Uneasy at just how rapidly it can be devalued. Uneasy at how the fiat in your bank account could become worthless in the not-too-distant future if this were to continue. This uneasy carries over in to the traditional stocks and shares markets, since they are the ones being pumped by all this new fiat being printed out of thin air (it goes without saying that similar stimulus/printing packages are rolling out in most Western nations, not just the US).

Not only did bitcoin not have a stimulus bill, but it can't have a stimulus bill. No one can print more at will, which is precisely what makes it so attractive at times like these. The longer that this virus hangs around, the longer the lockdown lasts, the more money governments have to print out of thin air, and the more attractive bitcoin becomes.

That's pretty much interesting to claim that BTC has indeed been the best performing asset even during this pandemic period and how effective gains it has produced against USD while USD index has witnessed some extensive lows. S&P and the Chinese stock pumps are looking a fake game to me while BTC looks strong enough to beat all types of markets, one of the reasons this is happening is due to very low market capitalization compared to big buds playing at Wall Street and NASDAQ.

Most of the world and governments seem interested in trying to keep companies afloat and stock markets looking promising by pumping huge funds into them and trying to keep liquidity high. I think we should start to be cautious but still more assured of the strength of bitcoin and the cryptocurrency world as a whole...

We rebounded from 3800 to 6000 pretty quickly and at a greater strength than the S&P of ftse rebounding.... Maybe the smart minds really are in and backing crypto these days... Just something to reflect on there....