Topic: What I have learned about Bitcoin (Read 217 times)
Those people that are living in the countries where their banks hostage their money will look for a solution and bitcoin shall be the first one that they'll recognize to protect their assets. We understand how good it is to have bitcoin and if you're looking at the current monetary system of governments, they're the ones that really give value to their fiat. While having bitcoin, we're the ones, each and everyone of us contributes to its total value and with the fixed event that occurs estimated every 4 years for the halving, it makes the value higher due to the lesser supply that it shall reward to its miners.
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
I remember thinking a long time ago "if only 1% of the people in the world use Bitcoin, ..." and here we are.
hero member
Activity: 2590
Merit: 650
Want top-notch marketing for your project, Hire me
Despite the cryptocurrency's numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
Bitcoin was considered the finest asset to invest in because of its potential, concept, consensus, and the liberation it presented. It is not always about the price and for the record, it is the truly decentralized coin in the market. The enthusiast is not dumb and they already support any project that presented something innovative that also solves a problem.This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing.
Not only in Bitcoin, but in every asset, community, stock, and other market settings. Demand and supply impact the market price.
It’s alright a popular knowledge that Bitcoin isn’t hundred percent known wold wide and if the world is 2% then I don’t think the people that actually utilize bitcoin is up to 1% that’s half of the world population, but we can be glad that the popularity of Bitcoin is probably increasing every year, and as time goes by some government of the world try to incorporate it into their country system so it’s race that bitcoin would win in the end.
it's been a long journey for bitcoin, even though only 1% of the world's population is still very valuable. Modern people are getting to know bitcoin because it supports their modern life, uses new payment methods and no one can fully control it. The popularity of bitcoin is increasing with time. Countries that adopt bitcoin such as El Salvador, of course, already know what benefits bitcoin will provide. countries like el salvador will emerge and adopt bitcoin, thus increasing bitcoin usage.
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
I believe that overall, Bitcoin satisfies a need in our lives. When financial systems are dishonest and untrustworthy, a decentralized currency is required.
If you think I missed anything, please add.
It’s alright a popular knowledge that Bitcoin isn’t hundred percent known wold wide and if the world is 2% then I don’t think the people that actually utilize bitcoin is up to 1% that’s half of the world population, but we can be glad that the popularity of Bitcoin is probably increasing every year, and as time goes by some government of the world try to incorporate it into their country system so it’s race that bitcoin would win in the end.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing. When there is a shortage of Bitcoin and an increase in demand, the price will rise.
There is no doubt that demand and supply is what determines the price of any asset but the real question is what factors affect the demand and/or supply and cause it to change! Some people think it's giid/bad news, regulations, halving as you said.. But, imo, the crypto market is totally different from any other market and sometimes it moves irrationally without any logical reasons. Quote
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
Not sure how accurate those numbers are, but 2% of world population isn't a small number at all considering that the first bitcoin transaction was made only ~13 years ago. 
Despite the cryptocurrency's numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
not only do they all believe in bitcoin to rise steadily after a fall but because no scam related charges were found laid against it existence ever since inception unlike other cryptos that has hidden agenda related to scam as most of them don't even exist to last long, also bitcoin is believed to be the only advisable digital investment asset unlike other altcoins that were nothing than a risk of gamblings.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing.
well said, even though that does not ends there, there are still other minor determining factors as well
When there is a shortage of Bitcoin and an increase in demand, the price will rise. Although there are a number of important factors that influence Bitcoin price, like the halving, the cost of mining bitcoin, blockchain technology, media hype, news, and so on.
exactly as I've expected, they constitute as determinants
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
i may not go right with this, check the world's population and compare that to the market cap in bitcoin, you'd rather say that the rate of governments adoption and not the people, bitcoin has gone wide to an extent that no any place allover the world is yet to hear about the goodnews of bitcoin, not to talk of we taking statistics from each countries the number of bitcoin users.
I believe that overall, Bitcoin satisfies a need in our lives. When financial systems are dishonest and untrustworthy, a decentralized currency is required.
that's the real idea.
Despite the cryptocurrency's Bitcoin numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
I'm keeping the discussion on Bitcoin and not cryptocurrencies, which is a general term.Firstly, "many" people don't believe Bitcoin to be an asset at all. Only a minority percentage of the population understands and invests in Bitcoin.
Also, Bitcoin is not valuable cause its price tends to rise more than it falls, leading to an appreciating pattern; Its price appreciates cause it is valuable.
This mean that people get into bitcoin (or at least used to) cause it had qualities that attracted investors, and hence its price rose. Like any speculative asset, after the price rose remarkably, lots of people fomoed in.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing.
Demand and supply are the two main factors of any market. 
We estimate it to be around 1% but I wonder how you came up with such an exact number as 1.3%?
Some research that has been mentioned in the last year has said that this number is closer to 5%, although it is possible that it is about the percentage of users of cryptocurrencies in general, and not only those who own Bitcoin. However, 1% seems too small to me because it would amount to only about 80 million people considering that the current number of people on earth is about 8 billion.
I will share a link with a lot of interesting information for those who might be interested in this -> How Many People Own & Hold Bitcoin?
Despite the cryptocurrency's numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
It's difficult to make such predictions and everyone should understand that investing in bitcoin is a risky investment.
It's obvious that the price of bitcoin is affected by many factors, including the state of the global market, inflation, decisions of central banks and market regulators etc.
I think that each of us should have our own investment plan, in accordance with our financial capabilities, and a clear exit strategy, regardless of the movements in the global market.
You need to be a smart investor, think long-term and not panic about short-term market declines.
Despite the cryptocurrency's numerous crashes,~
Cryptocurrenceis (that usually means altcoins) get dumped all the time and it has nothing to do with bitcoin.Quote
important factors that influence Bitcoin price, like ~the cost of mining bitcoin~
Cost of mining does not affect bitcoin price, it is the exact opposite meaning bitcoin price affects cost of mining because of the way bitcoin difficulty algorithm works.Quote
only 1.3% to 2% of people
We estimate it to be around 1% but I wonder how you came up with such an exact number as 1.3%? 
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing
In long term, yes it is correct.In short term, it is incorrect. Price of Bitcoin is not solely depended on Supply and Demand but seriously depends on price manipulation, forced liquidations. If you don't believe me, you can check price spikes with high trading volume, within those times Supply and Demand is not a main factor but pressure from forced liquidations on exchanges are.
Despite the cryptocurrency's numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing. When there is a shortage of Bitcoin and an increase in demand, the price will rise. Although there are a number of important factors that influence Bitcoin price, like the halving, the cost of mining bitcoin, blockchain technology, media hype, news, and so on.
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
I believe that overall, Bitcoin satisfies a need in our lives. When financial systems are dishonest and untrustworthy, a decentralized currency is required.
If you think I missed anything, please add.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing. When there is a shortage of Bitcoin and an increase in demand, the price will rise. Although there are a number of important factors that influence Bitcoin price, like the halving, the cost of mining bitcoin, blockchain technology, media hype, news, and so on.
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
I believe that overall, Bitcoin satisfies a need in our lives. When financial systems are dishonest and untrustworthy, a decentralized currency is required.
If you think I missed anything, please add.
Jump to: