the rise in world crude oil does affect the virtual currency

arthotdog

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Quote from: charlotte04 on July 03, 2018, 05:55:36 AM

Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Maybe people tend to buy more crypto because they have a lot of savings from oils for their cars. But I'm not so sure about that. As long as crypto is going well, then I support it.

Then if the crypto goes bad so you will leave?and just walk away?what an attitude this only mean one thing that you are here just because you want to earn and not to learn the technology,things that i really hate for those i come to know here,this community exist for two things EARNJNG AND LEARNING because future is about to come andif you dont take this both then you'll be gone for tomorrow

damberg

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

I would intuitively answer that there is no strong correlation between crude oil and cryptocurrencies. Demand for crude oil is driven by real economic variables (predominantly production), on the contrary demand for cryptocurrencies is apparently independent on real factors. Moreover, supply of crude oil is partially controlled by OPEC so the oil-crypto relationship is highly unlikely.

dothebeats

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I don't think that there's a strong correlation between cryptocurrencies and world oil market since the two are completely different entities. It is possible that some oil traders are also involved in the cryptocurrency markets, though it is highly unlikely that they are invested heavily onto bitcoin and other crypto. I'd say it's entirely coincidental when oil prices move together with the crypto markets unless a solid line can be drawn that connects the two of them/ Right now, bitcoin's price have lost 3% from its yesterday prices whereas prices of oil still remains stable as of yesterday.

Bountyl

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Everything in this world affects the cryptography. The same is true of you. Somewhere the price of oil rose in some country and some man planned to buy bitcoin. He will not do this, therefore, the bitcoin's capitalization will not increase, but may even fall. So here everything is relative and everything depends on everything.

jlong187

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Hard to see the point, on how the crude oil would be, affecting the price of cryptocurrency but I think that you need to be flexible whatever would be happening here, be prepared for everything.

Jetfruit

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Quote from: Hydrogen on July 03, 2018, 04:10:51 PM

Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Do oil prices impact the price of bitcoin? Off the top of my head, the answer is: no.

The price of oil can affect shipping and transportation of goods/services/employees. Bitcoin is a truly global enterprise and isn't reliant upon transportation nor regional/geographic base. It won't be impacted by fluctuations in crude value.

The second potential way oil could affect crypto is in cases where the value of crude were linked to the price of electricity production. Most industrial bitcoin mining operations are powered by hydroelectrically generated power which is far cheaper and more environmentally friendly than hydrocarbon based energy sources like coal or oil. The price of oil won't impact bitcoin here, either.

If residents spend less on fuel, they could have more liquidity to buy crypto. That's the main scenario where reduced oil and fuel prices might affect bitcoin prices, off the top of my head.

Hopefully with this explanation people are not afraid to invest money into bitcoin

Ranly123

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

I doubt if the cryptocurrency affect the price of crude oil in some country. Crude oil business is ran by Fiat money and not by crypto, so there is no relation between it's price and crypto. Another thing is, isn't it good for the community to have a smaller value of oil?

Hydrogen

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Do oil prices impact the price of bitcoin? Off the top of my head, the answer is: no.

The price of oil can affect shipping and transportation of goods/services/employees. Bitcoin is a truly global enterprise and isn't reliant upon transportation nor regional/geographic base. It won't be impacted by fluctuations in crude value.

The second potential way oil could affect crypto is in cases where the value of crude were linked to the price of electricity production. Most industrial bitcoin mining operations are powered by hydroelectrically generated power which is far cheaper and more environmentally friendly than hydrocarbon based energy sources like coal or oil. The price of oil won't impact bitcoin here, either.

If residents spend less on fuel, they could have more liquidity to buy crypto. That's the main scenario where reduced oil and fuel prices might affect bitcoin prices, off the top of my head.

casternetwork

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I do not think crude oil and cryptocurrency are related. Maybe the market price rises as the price of crude oil fall are just a coincidence. Anyway, such information is very positive for the crypto market

Mometaskers

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Quote from: 1Referee on July 03, 2018, 07:36:20 AM

Quote from: pickledmuffin on July 03, 2018, 06:30:30 AM

Not sure if there is any correlation between crude oil pricing and crypto, but if money is flowing out of somewhere it is welcome to come into the crypto market.

Technically it could affect crypto, but not in the most direct way. In case of a positive scenario for crypto, increasing oil prices will result in X industry to grow, and the growth in X industry positively affects Y industry, and the boost in that industry might result in the crypto industry to benefit. If there would be any correlation, then it would follow that route.

Everything makes sense till it doesn't, and in this case we have no concrete evidence that it affects or not effects crypto. In that regard it's better to remain neutral, but not let your main thought of there not being any correlation take you over. In the end, it's one economy and one pool of capital/wealth that all industries are 'fighting' for. Perhaps that with more past crypto history things will become more clear.

I agree with things being interconnected but not always directly. As of now, I'm not seeing any drastic movement to go along the rising crude price.

I think the way this would affect it is if people who have investments in oil are getting larger dividends because of the hike and then they decide to invest some of those into crypto but I don't see that causing massive ripples unless a large number of those people decide to sell all out and go all in into crypto (I doubt that).

1Referee

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Quote from: pickledmuffin on July 03, 2018, 06:30:30 AM

Not sure if there is any correlation between crude oil pricing and crypto, but if money is flowing out of somewhere it is welcome to come into the crypto market.

Technically it could affect crypto, but not in the most direct way. In case of a positive scenario for crypto, increasing oil prices will result in X industry to grow, and the growth in X industry positively affects Y industry, and the boost in that industry might result in the crypto industry to benefit. If there would be any correlation, then it would follow that route.

Everything makes sense till it doesn't, and in this case we have no concrete evidence that it affects or not effects crypto. In that regard it's better to remain neutral, but not let your main thought of there not being any correlation take you over. In the end, it's one economy and one pool of capital/wealth that all industries are 'fighting' for. Perhaps that with more past crypto history things will become more clear.

squog

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I don't think the price of crude oil is directly correlated with the price of virtual currency. If it does then that means that crypto currency actually have stock holdings in crude oil which i doubt. If it does, maybe indirectly by which all of the major economy in the world is hinged on crude oil which again i highly doubt. Maybe all these are just coincidence.

Jetfruit

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Quote from: charlotte04 on July 03, 2018, 05:55:36 AM

Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Maybe people tend to buy more crypto because they have a lot of savings from oils for their cars. But I'm not so sure about that. As long as crypto is going well, then I support it.

How to steps to keep crypto going well and can convince people to invest into virtual currency

pickledmuffin

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Not sure if there is any correlation between crude oil pricing and crypto, but if money is flowing out of somewhere it is welcome to come into the crypto market.

akram143

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

1 limiting will affect the development of cryptocurrencies if you don't trust cryptocurrencies then we will made a lot of nurses for us that's why many people facing the problem of losing their profit.

charlotte04

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Quote from: Jetfruit on July 03, 2018, 05:31:43 AM

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

Maybe people tend to buy more crypto because they have a lot of savings from oils for their cars. But I'm not so sure about that. As long as crypto is going well, then I support it.

Jetfruit

newbie

Activity: 7

Merit: 0

world crude oil prices fell about 2 percent as US crude oil prices touched the lowest level in nearly two months. It broke below the technical level as investors continued to sell amid growing US production, due to possible global supply growth and trade tensions.

Brent crude futures fell $ 1.50 a barrel, or 2 percent, to settle at $ 75.29 a barrel. US crude prices ended down $ 1.06, or 1.6 percent, at $ 64.75 a barrel, after earlier touching $ 64.57, the lowest since April 10.
whether the consequences will impact to mature virtual money?

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