Bitcoin is doing fine against all metals and markets other than gold.
As a miner I am going to get a 15% boost in 2 days when difficulty adjusts.
When that happens it will become a clear 2nd best in holding value.
Basically at the moment markets and metals are down 30-40% gold is down 10% since feb 20-24
btc is down 32% once the diff adjusts by 15% for miners Btc will be looking good.
my 2ph will be like 2.3 ph over night.
Topic: Why should bitcoin not perform now? - page 2. (Read 466 times)
Bitcoin will work fully when it is in demand in society and will be used in everyday life, without any problems from the government. Today, bitcoin is used to a greater extent as an investment in order to receive high profits due to volatility and nothing more. If the demand for Bitcoin in the society grows, then its price will rise, after which stability will come.
BTC still is new to test for a country to have it use as money. Give it some time when credit cards allow BTC on it, we may be seeing the spikes of the price.
As of now BTC is performing. You can see Redcross is now using BTC for donations, we don't see that years ago. This Covid crisis will teach us all a lesson the online transactions needs to be faster and cryptocurrency is best to be used.
As of now BTC is performing. You can see Redcross is now using BTC for donations, we don't see that years ago. This Covid crisis will teach us all a lesson the online transactions needs to be faster and cryptocurrency is best to be used.
bitcoin has been around for 11+ years and it is being adopted every day. but the problem you are looking for concerns the price, from what i gather. and that problem stems from the fact that the exchanges are still not big enough to prevent manipulation. and with all these margin traders, futures markets,... it becomes super profitable to manipulate the price like the recent drop and make a ton of money from that panic sell.
If stocks drop it doesn't mean Bitcoin has to pump, if gold rises it doesn't mean BTC will go up everyday. BTC recorded a strong start in January this year unfortunately now the market has gone down, BTC is purely driven by demand that's why it remains steady when other markets are struggling. BTCs good days are yet to come just have patience only then you will get used to it 
Well, you mean to say now? Perhaps not now because people really need cash for the survival of lockdown because of a pandemic.
Bitcoin was already performing and gain mass adoption, the fact it is already in the mainstream. But as I say due to this economic crisis people need cash right at this moment. Some investors pull out their investment, besides, Bitcoin showing improvement of price few days ago and have resistance.
Indeed, when it comes to transactions. Lightning Network was there that can transact even micropayment at a lower fee. But as of now, only few merchants start using it.
Bitcoin was already performing and gain mass adoption, the fact it is already in the mainstream. But as I say due to this economic crisis people need cash right at this moment. Some investors pull out their investment, besides, Bitcoin showing improvement of price few days ago and have resistance.
Indeed, when it comes to transactions. Lightning Network was there that can transact even micropayment at a lower fee. But as of now, only few merchants start using it.
You cannot say that bitcoin is not performing. Its a much better recognized investment. The development still continues but one of the main reasons is also that there has been a dearth of use-cases. Micropayments on Lightning network and development of services and application using LN as a payment system should have been going on full swing.
LN still has some way to go before it starts being used widely and actively to buy coffee or for payments. The other developments like Schnorr Signatures, Taproot etc are more bent towards industrial use-cases. There is still work that remains to be done. It does look like this pandemic will change perspectives a lot. The next wave of fiat influx will also result in another rethinking among the general public regarding the comparison between Fiat and BTC.
LN still has some way to go before it starts being used widely and actively to buy coffee or for payments. The other developments like Schnorr Signatures, Taproot etc are more bent towards industrial use-cases. There is still work that remains to be done. It does look like this pandemic will change perspectives a lot. The next wave of fiat influx will also result in another rethinking among the general public regarding the comparison between Fiat and BTC.
I'll give you a few reasons.
-Traders tried to leverage stocks and got fucked by a long decline. They did not expect this crash to be so big. Some people say it's the biggest since the 2009 financial crisis.
In other words a lot of people got cut catching a falling knife.
-Bitcoin is doing what gold and silver are doing, just much faster because it's much easier to sell and the market lacks real volume and depth.
-There's definitely some panic among the common people who tried to sell their investments to get cash but governments begun to advise people to stop using cash, which made folks even more confused, so now they don't know what to do with the cash they have. They cannot bring it to the bank because banks got shut down like everything else.
At the moment people begun to buy some of their investments back and thus you can see a nice bounce on stocks, gold and Bitcoin.
-Traders tried to leverage stocks and got fucked by a long decline. They did not expect this crash to be so big. Some people say it's the biggest since the 2009 financial crisis.
In other words a lot of people got cut catching a falling knife.
-Bitcoin is doing what gold and silver are doing, just much faster because it's much easier to sell and the market lacks real volume and depth.
-There's definitely some panic among the common people who tried to sell their investments to get cash but governments begun to advise people to stop using cash, which made folks even more confused, so now they don't know what to do with the cash they have. They cannot bring it to the bank because banks got shut down like everything else.
At the moment people begun to buy some of their investments back and thus you can see a nice bounce on stocks, gold and Bitcoin.
Today the market price of the Bitcoin already recover but because of the declined on the market it can't bring back and becomes profitable again if this will happen for a long week this may affect the whole stock market again but if the virus will not spreading and gone today there is a chance that the market price of the bitcoin recover and pump rapidly again.
I'll give you a few reasons.
-Traders tried to leverage stocks and got fucked by a long decline. They did not expect this crash to be so big. Some people say it's the biggest since the 2009 financial crisis.
In other words a lot of people got cut catching a falling knife.
-Bitcoin is doing what gold and silver are doing, just much faster because it's much easier to sell and the market lacks real volume and depth.
-There's definitely some panic among the common people who tried to sell their investments to get cash but governments begun to advise people to stop using cash, which made folks even more confused, so now they don't know what to do with the cash they have. They cannot bring it to the bank because banks got shut down like everything else.
At the moment people begun to buy some of their investments back and thus you can see a nice bounce on stocks, gold and Bitcoin.
-Traders tried to leverage stocks and got fucked by a long decline. They did not expect this crash to be so big. Some people say it's the biggest since the 2009 financial crisis.
In other words a lot of people got cut catching a falling knife.
-Bitcoin is doing what gold and silver are doing, just much faster because it's much easier to sell and the market lacks real volume and depth.
-There's definitely some panic among the common people who tried to sell their investments to get cash but governments begun to advise people to stop using cash, which made folks even more confused, so now they don't know what to do with the cash they have. They cannot bring it to the bank because banks got shut down like everything else.
At the moment people begun to buy some of their investments back and thus you can see a nice bounce on stocks, gold and Bitcoin.
Even before the crises people are very slow with btc adoption, even though compare to other currency btc is still relatively new, but 10years is a good time for a meaningful acceptance from people but for some reason the bad publicity and constant rejection by governments of different countries has hinder the speed of acceptance, although, lets not forget that btc is highly volatile, this point can not be over emphasis, this can be another major set back for btc.
Because the world doesn't know that they need Bitcoin. Once the masses realizes how important it is, we would already be on the moon. Be patient and just accumulate.
You doesn't need a 10 years of experience in cryptocurrency or bitcoin just to assure a knowledge about it. Always remember that bitcoin itself will teach you the basic platforms of the cryptocurrency, but always think about the consequences of having and entering to the cryptocurrency world so that you will not be able to blame yourself once you have gained the losses that you may have.
The market price of the bitcoin today immediately fall because of the outbreak happens and many people getting panic because of the hoarding happens and also they need a lot of supplies because some of the places have a lockdown on their cities and countries also there is a factor of the halving too it is coming nearly and we are looking for the bitcoin to give a good market income again still it is in the resting pace and having a stable market for a while is a good thing and waiting to recover and give back to normal price.
Bitcoin is in full order and even now the price is still the most stable than any investment.
You doesn't need a 10 years of experience in cryptocurrency or bitcoin just to assure a knowledge about it. Always remember that bitcoin itself will teach you the basic platforms of the cryptocurrency, but always think about the consequences of having and entering to the cryptocurrency world so that you will not be able to blame yourself once you have gained the losses that you may have.
Anyway, it's not like strides haven't been made in the world's acceptance. Talking heads never really call Bitcoin a bubble anymore, which is crazy because that's all you really hear from critics two years ago. Who knows where we'll be in another two years.
Maybe less than two years. The image of our existence is changing at the speed of the spread of the virus.In addition to what Lucius said above, bitcoin would perform soon after we win the fight against the virus. We are sure about that physical money exchange between persons can be at top list factors that help spread the virus. It also transmit a lot of other bacterias.
The biggest factor, in my opinion, is user experience. This is also one point where Bitcoin's decentralization works against it; there's no given jump-off point. Newbies have to pick among a massive number of exchanges/wallets, a lot of which are out there trying to steal their money. While the choice is incredibly trivial if you put time into it, there will be lots of people who would rather not bother, and thus dipping their toes will always be a daunting prospect to them.
People would rather pay for convenience, as evidenced by piracy dropping thanks to Netflix and Spotify. Bitcoin is easy to use at the end of the day, but it's still easier for the average joe to simply use fiat, swipe their cards, and/or let Paypal handle everything for their purchases, so it makes sense for them to gravitate towards that direction. Wallets are always improving though, so this is probably just a matter of time.
Anyway, it's not like strides haven't been made in the world's acceptance. Talking heads never really call Bitcoin a bubble anymore, which is crazy because that's all you really hear from critics two years ago. Who knows where we'll be in another two years.
People would rather pay for convenience, as evidenced by piracy dropping thanks to Netflix and Spotify. Bitcoin is easy to use at the end of the day, but it's still easier for the average joe to simply use fiat, swipe their cards, and/or let Paypal handle everything for their purchases, so it makes sense for them to gravitate towards that direction. Wallets are always improving though, so this is probably just a matter of time.
Anyway, it's not like strides haven't been made in the world's acceptance. Talking heads never really call Bitcoin a bubble anymore, which is crazy because that's all you really hear from critics two years ago. Who knows where we'll be in another two years.
Why bitcoin shouldn't perform now is because of its decentralized nature.., so many people wouldn't trust bitcoin, if they is nobody to complain to about their money, it is fungible in what sense exactly, how can it be replaced if lost? or can anyother goods be used to replace btc in terms of trading. The world is in a verge of curious and anxious people that would believe bitcoin, with enough satisfaction that they is a bitcoin bank or headoffice where they can go and talk to a manager about a huge sum of money they want to send to a business mate, family, or friend. So for now as it is an E-currency we should be focused on how we wouldn't loose it entirely and continue trading online while the marketers offline make use of their fiat.
So what is the world waiting for?
The two keywords "now" and "world", should give you a very clear answer. You need to understand that the world is currently in one of its biggest crises, despite what some say is harmless flu and everything is overstated. Panic is a dangerous thing, and it spreads at the speed of light.
Considering the above situation, with the fact that Bitcoin is still too complicated for most people, and that cannot be changed overnight - why do you expect some flip to happen now, that people will leave fiat and start using BTC? Now people need cash for basic needs, many will lose their jobs and all together makes this time very unfavorable to invest. The fact that BTC dropped in value some 50% in one moment don't help either.
Your case doesn't really have any punch to it - you should be suggesting that it is a contactless form of payment and is a quick and cheep alternative to electronic payment systems that can charge 1%- 5% (or higher) of the purchase price added on as a transaction fee by the bank where as bitcoin has little or no fee.
The Lightning Network pushed that transaction fee even lower still to fractions of one cent on every day transactions as well as colossally high value transactions as well.
Your opinion is still an improved case of bitcoin to new users for adoption. Most importantly I think bitcoin is more ready than in past 10 years for the world. The Lightning Network pushed that transaction fee even lower still to fractions of one cent on every day transactions as well as colossally high value transactions as well.
Your case doesn't really have any punch to it - you should be suggesting that it is a contactless form of payment and is a quick and cheep alternative to electronic payment systems that can charge 1%- 5% (or higher) of the purchase price added on as a transaction fee by the bank where as bitcoin has little or no fee.
The Lightning Network pushed that transaction fee even lower still to fractions of one cent on every day transactions as well as colossally high value transactions as well.
The Lightning Network pushed that transaction fee even lower still to fractions of one cent on every day transactions as well as colossally high value transactions as well.
Jump to: