What Caused the Boom in Bitcoin - page 20.

rodel caling

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Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

its because bitcoin goes into famous in the worldwide people knowing the importance of bitcoin being currency and have potential to fast grow in the marketcap, if the people smoothly preach them slowly how the bitcoin importance in the world of cryptocurrency their become interested and more investor invest in bitcoin to make more profits.

Gasotard

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Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

It was due for a price increase, it's been over 4 years.

BY_ATOM

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In fact it is not a boom. It's predictable growth, bitcoin gets more and more popular, accordingly there is an increase of new investors, and the growth of bitcount just begun! Still to come.

yrreg ger

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Quote from: dothebeats on October 28, 2017, 11:16:17 AM

Quote from: MisterPrada on October 28, 2017, 09:25:36 AM

The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

Wrong. Cash transactions are even more shady compared to bitcoin transactions which can easily be traced in the blockchain if one wish. Also, millions of dollars are being laundered every single day and it seems to be fine with the authorities, lol.

Right, online transactions are eaaier to trace because it is recorded over the Internet. Anyways, bitcoin has been created to give anonymity to the users and I rightfully think that we should not abuse that. I know that it has proven that btc is being used for black market transactions and it just show how greedy people can be.

The boom of bitcoin is also caused by the modern technology and its continuous improvements. If not by this gadgets that we have, we might have never heard of bitcoin. Also, many people don't want to be left out and some are just genuinely interested in earning it.

BitcoinIsAlgebraic

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The hype of free money with Bitcoin gold caused the sudden rise but now its just continuing from there.

Netto

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in the year 2017 bitcoin is experiencing a very fantastic price increase, I also optimistic by the end of 2017 this bitcoin will definitely experience a price increase

Ilegendph

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Thinking on the higher plane of existence.

Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

I think one of the main contributors of popularity of bitcoin is the people using it itself, remember that bitcoin does not start from ICO therefore it will having hard time to grow, but little by little we see how the price goes up exponentially because of more people considering bitcoin as an investment and as of today the main aim of bitcoin to be considered as local currency is somehow set aside because now it is considered as an asset or investment because of its volatility.

saedasda

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There are many factors why bitcoin is bomming right now.
Number 1. HYIP - those people who doesnt learn to scams will buy bitcoin again and again
2. Investors / Trades - those who holds bitcoin Grin

3. Darknet - people who buys drugs ,fake documents and etc. using bitcoin
and many more

wisdomcn

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Yes this is true, I agreed with you. Since the inception of bitcoin in 2009, the popularity and increase in demand for bitcoin from 2009 to 2016 can never be compare to the increase in the demand of bitcoin in this year 2017, which have lead to the increase in the price of bitcoin and other cryptocurrencies.

GreenBits

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Quote from: bubble1 on October 28, 2017, 11:03:29 AM

Quote from: MisterPrada on October 28, 2017, 09:25:36 AM

The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

But authoritative studies have shown that the black market and/or illegal use is a much smaller proportion of the total value of bitcoin than it is of most fiat currencies.

It's a myth put out by governments and banks who want to control all aspects of our lives.

Actually, any cash is far more anonymous than bitcoin.

agree and disagree. if the whole of the btc economy were illicit, it would pale in comparison to the capitalization of illegal funds in fiat. with that being said, i think a disproportionate amount of our capitiization is not legitimate ( the percentage of illicit funds vs legitimate funds) and said ratio is much higher than fiat. you would be an idiot, as a criminal, not to use cryptos. notice I said cryptos and not bitcoin, bitcoins is about the worse choice you can make if you aim to use bitcoin for the wrong reasons Wink

dothebeats

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Cashback 15%

The main reason I see behind the boom in crypto is its usability and the concept of you being your own bank. Add to that fact the astronomical gains one could receive in their investment in just a short span of time and you'll have people flocking in hoping that they can also have a share of the wealth bitcoin has to offer with its users.

Quote from: MisterPrada on October 28, 2017, 09:25:36 AM

The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

Wrong. Cash transactions are even more shady compared to bitcoin transactions which can easily be traced in the blockchain if one wish. Also, millions of dollars are being laundered every single day and it seems to be fine with the authorities, lol.

bubble1

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Quote from: MisterPrada on October 28, 2017, 09:25:36 AM

The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

But authoritative studies have shown that the black market and/or illegal use is a much smaller proportion of the total value of bitcoin than it is of most fiat currencies.

It's a myth put out by governments and banks who want to control all aspects of our lives.

Actually, any cash is far more anonymous than bitcoin.

wantjokull

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The bitcoin popularity could be another example other than what you guys speculated above. The math is simple, more investor mean more money flooding into crypto world and specifically into bitcoin. This has led to tremendous increase in bitcoin market capitalism. It is so high now that it is very much impossible to drive it to downward side. So altogether any investment today is making the future of bitcoin. Hope this continues the same way and goes beyond the limits.

phr0stbyt3

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It was the people the believes who actually caused bitcoin to boom so high since then it was all for the profit people started investing millions in bitcoin thinking it wil give them profit and with every purchase the price started increasing and finally here we are today at more than 6000$ and still rising

soham

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Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

Being the first ever crypto currency, bitcoin is the most popular one. You will find a lot of people who doesn't have any idea about what blockchain is, but they have heard the name of bitcoin. Bitcoin has been riding high on expectation around the world due to the high return potential. No other investment asset can offer that much return what bitcoin can offer and hence we have seen a lot of investments in-flowing towards bitcoin this year. So while supply is limited but the demand is high, bitcoin price increased to a higher level because investors are willing to pay a higher price. Also with the increasing popularity of bitcoin, the acceptance is also increasing which added some spark on the growth story of bitcoin. But it's mainly the good old demand supply equation.

ajmapalo22

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Because bitcoin is the first crypto currencies and the acceptance for it is now getting wider all over the world this main reason why bitcoin value and popularity became a hit. The value appreciation of bitcoin is one of the reason why people are attracted to cryptos and as long as it continue to appreciate it will remain a big name in the crypto currency market

MisterPrada

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The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

jennywhzz

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Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

It is not that much of a boom. This is continued from the $2000 to 4000 move, and that from the 600 to 1000, from the 200 to 600 and so forth. This has been a steady move up the scale since it began.
There are brief levels where there is a short period that shows a slower move upward, but not that much slower that I would call this a boom, it is simply a more outwardly spoken of move than many of the last.

Blockfolioz

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All that's happening with bitcoin is the real growth. This is simply based on the demand to the supply availability causing the variation in circulation of bitcoin around along with the market valuation. It's not the boom, it's the realistic growth of bitcoin overcoming barriers.

Xenoph0bia

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Quote from: enterprevic on October 24, 2017, 07:34:35 AM

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

Bitcoin is one of the world's best known digital currencies. It is classed as a safe, appreciating, decentralised digital asset which has helped to aid its popularity as well its value. One of the key driving forces behind bitcoin's value over the years is the fact that Bitcoin provides increased ease and convenience when it comes to online transactions with the added bonus of security and the transactions are of pseudo anonymous nature.

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