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The recent price of bitcoin has risen too fast. To be sure, it will have a big correction, and I hope to see it this year. If it continues to rise so rapidly, it is clear that the growth of the encrypted currency circle is very bad, because the market is full of speculation.
Another point is that,Such a drastic move in bitcoin can discourage many businesses from applying bitcoin ideas. Will reduce bitcoin usage scenarios
Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?
I don't think so. Maybe there are chances that another cryptocurrency will take over bitcoin when it comes to value but replacing bitcoin? It's too far from possible. Some may say that there is but if we can all see how bitcoin changed the world, bitcoin is original and cannot be replicated nor replaced. Bitcoin has a lot of unique features and it will take more than forever for a cryptocurreny to copy all of it to dominate bitcoin.Holders and miners should be able to participate in the new digital currency, so bitcoin is still likely to be replaced
If Bitcoin is not accepted by all businesses in the world, Bitcoin is already dead.
Because at that time bitcoin did not have any use other than buying and selling people from person to person
Because at that time bitcoin did not have any use other than buying and selling people from person to person
It boggles my mind that there are members and senior members making comments like, "Oh this is great, let's hope it continues to rise!"
The only thing I can think of is that they are bought accounts or a shared account.
If you know anything at all about trading, crypto, and economics, you would be worried at this huge price increase.
It is absolutely not sustainable.
The thing that worries me a lot this time around is not the inevitable crash and price correction, but the reputation of btc after it crashes.
Right now, noobs are driving the price up. BTC has gone viral and every idiot with a credit card is trying to get in on it with hopes of becoming a millionare in a year.
I've got the most random people posting on their social media feeds about how BTC is so amazing and they will get rich off it and everyone else should too.
They are each putting in, what? a paltry couple thousand at the most?
When the price crashes and they try to panic sell and realize they can't even liquidate their btc then I am afraid the reputation of btc will get damaged and delay its mainstream adoption further.
The only thing I can think of is that they are bought accounts or a shared account.
If you know anything at all about trading, crypto, and economics, you would be worried at this huge price increase.
It is absolutely not sustainable.
The thing that worries me a lot this time around is not the inevitable crash and price correction, but the reputation of btc after it crashes.
Right now, noobs are driving the price up. BTC has gone viral and every idiot with a credit card is trying to get in on it with hopes of becoming a millionare in a year.
I've got the most random people posting on their social media feeds about how BTC is so amazing and they will get rich off it and everyone else should too.
They are each putting in, what? a paltry couple thousand at the most?
When the price crashes and they try to panic sell and realize they can't even liquidate their btc then I am afraid the reputation of btc will get damaged and delay its mainstream adoption further.
I could not agree more. I don't understand why all these senior, hero or even legendary members are saying its great.
In the exact moment, YES, it is indeed good if you plan to sell... BUT, if you have that die hard HOLD mentality with the perfect image in mind that it'll continue rise perfectly, your an idiot. They either say hold to prevent people from selling, or are so idiotic that they really think it wont crash.
This much of a rise just is not healthy whatsoever...
Has anyone even heard of the Tulip crisis?
And there's the risk of crashing
Re: If Bitcoin had a stable price, would it still be as popular?
When Bitcoin prices are stable, Bitcoin will be accepted by more people and businesses.
Many people now think Bitcoin is the main reason for the scam is price instability.
The reason why bitcoin has not been widely used in the field of application is also because of price instability
Many people now think Bitcoin is the main reason for the scam is price instability.
The reason why bitcoin has not been widely used in the field of application is also because of price instability
Therefore, BI called on merchants not to accept Bitcoin as an official payment instrument as the bank would not be responsible for any losses incurred through transactions, Onny said.
Well that's disappointing. I want to clarify something though: are they banning Bitcoin in its entirety or are they banning merchants from accepting Bitcoin? It looks like they're still on the fence about regulations, and they at least want to stop its unregulated use as they seem to fear it could do damage. So users can still trade with each other? I'm guessing exchanges are off the table.
Either way, it looks like it's not yet final so let's keep our fingers crossed. Keep in mind that while a country may have a small volume of Bitcoin transactions, a ban closes the door for future adopters. It's a big loss in the long run.
Banning businesses from accepting bitcoin will affect Bitcoin's growth in the country
This isn't something for Bitcoin and its community to be proud of, this is people milking Bitcoin in a way to be able to make some quick cash for themselves. And it's going to get tacked to Bitcoin. We want Bitcoin to become popular, not some shitty trade coin that's just going to make a couple of bucks for its devs.
We need to have a concentration of what we can get on the media, as we need normal people getting into it. We don't want the story to be about forks, we want it to be ABOUT BITCOIN.
Don't support any of these and we'll be okay.
Agree with your statement,We need to have a concentration of what we can get on the media, as we need normal people getting into it. We don't want the story to be about forks, we want it to be ABOUT BITCOIN.
Don't support any of these and we'll be okay.
I also think that without the proper use of bitcoin, and simply thinking of developing new currencies to make money, this is an unhealthy development for the future of the entire digital currency.
Will also deepen people's misunderstanding of digital currency.
$0000 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
Your data shows the accelerating speed of the Bitcoin value. This is due to popularity of bitcoin and awareness of more & more peoples in the world.$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
And bitcoin's application scene is also more and more.
However, such a surge will not have a good effect on the practical application of Bitcoin, so far it can not be determined
Re: One of the world's largest accounting firms starts accepting Bitcoin
This has promoted the better development of bitcoin.
When more industries and scenarios can use bitcoin or digital currency, people know the bitcoin and digital currency correctly and have a positive impact on Bitcoin and digital currency development.
When more industries and scenarios can use bitcoin or digital currency, people know the bitcoin and digital currency correctly and have a positive impact on Bitcoin and digital currency development.