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if we look at 5 years back, cryptocurrency can still run and develop even though at that time stable coins did not exist,I do believe that having stablecoins in the crypto ecosystem now is a good thing. I understand back then we didn't have stablecoins and we couldn't also hodl our investment during bear market as we can now back then. You will have to watch your crypto value drop or you have to sell into fiat and back to your bank but having stablecoins has changed all that.
but now stable coins have appeared and many of them,
I sometimes ask, do we really need to have a stable coin?
because I feel stable coins are made one of them to enrich the team and dev,
because if they sell coins it won't affect the market because it's a stable coin,
this is only my opinion,
so give your opinion so that I have a lot of insight.
I see some people just keep their bitcoins in a wallet, others sell at certain points and then buy back, what do you do?I want to Believe you are talking about HODLing and trading. I believe everyone has their reasons for what they do even though if you are good with trading you can still take advantage of the swings within the market during a bear season however, I would prefer to sell my Bitcoin assets during a bull season and buy back at the dip of a good bear market to Hodl to another ATH and understand that you have to keep your Bitcoins in your non-custodian wallets where you have the PKs.
It may come to reality that Bitcoin in many people points of views, that "Bitcoin will do to banks what email did to the post industry".Even though this is what some people might be looking forward to, I don't think this will happen in the near future or ever at all. I don't think there will be a time when all transactions can be done by Bitcoin, that's when every merchant or store will accept Bitcoin and if this is not the case how can Bitcoin be superior to Banks? or do you think that Government will consider Bitcoin over the Fiat of the Country?
In personal opinion, I that this statement can be very possible in near future, What do you think?
Of cause Bitcoin is riskier hence it is usually more expensive even with the current market price.BTC and Gold can not be compared because BTC is considered the digital Gold and can manipulate the whole Crypto world as the price of BTC is down then it will impact the whole crypto market and it will crash.
agreed, bitcoin is digital gold.
Several people call it.
I think bitcoin is more profitable than gold, but also more risk.
Bitcoin will more expensive at the next several years again
The arrest of Sam Bankman has nothing to do with BTC being pumped. BTC pump or dump depends on the market selloff, however the arrest of Sam Bankman may be a lesson for scammers.
agreed, bitcoin pumps or not depends on the market.
The basic factors that influence the price are demand and supply.
I think the arrest of Sam doesn't have good effect.
Keep monitor the market
That is really worrisome. At least you could have actually seen some sort of withdrawal transaction even if they actually gained access to your wallet somehow or maybe there is some new level of hacking and withdrawing from a wallet without transaction details which I don't believe happens on most blockchains at the moment.I know that I could have been hacked, but how do explain that on my Shiryo Inu there are no withdrawl transactions in the history, nor is there a deposit transaction showing, only a balance of 359,000. How could someone have transferred my Shiryo out without a history on trust Wallet or even on Etherscan which there is not. I have taken screen shots of all the histories of all transactions to my Trust Wallet both from the exchanges and on etherscan and it only shows that it was transferred successfully to trust Wallet, and zero transactions showing it taken out anywhere. Same with my Evergrow coin, Trust Wallet itself shows the transfer in to it with the proper amount, but it shows a zero balance and no outgoing transaction in the history. How do you explain that?
The market has been bearish before this red December and the red market may take longer than we may expect. Bear run is going stronger by the day, there are little or no volume to push the market upward; I am sure the market come back in few months, first quarter 2023. I am out of the market until there is improvement.
Weather the Governments like cryptocurrencies or not is debatable. We are noticing that world over the governments are taking cryptocurrencies more seriously with every passing day.I would say that you might have gotten it wrong there since we cannot really say that there have been many regulations across the cryptocurrency ecosystem by most Governments and this is 2022. Maybe in the future crypto regulations might actually bring in more acceptance and adoption by many who still do not believe that crypto is a safe form of investment but this is yet to be seen at the moment.
However some cryptocurrencies think they are invincible and can exist and no government can ban them. Thought this can be debated by many, in my personal opinion. It is really hard for cryptocurrencies to exist without approval of governments.
I do know that some brilliant people have already understood this and are building solutions around this. A good example is Concordium. They are building the world’s first regulatory complaint blockchain with on-chain governance. The catch here is, if all laws are regulations are followed and abide by, Governments cannot shut it down. It then becomes a big win in turn.
I think more regulation will be seen in the coming years and if cryptocurrencies have inbuilt regulatory mechanisms like the above blockchain, I don’t see any issue and there would be no reason they wont be allowed. I really think that 2020 is going to be the yard of regulation especially with the travel rule getting implemented across the globe.
Well, the arguments are pretty compelling. I also agree with the reasoning that bitcoin is not a good store of value. But most bitcoin holders will object to this for the time being, because they have made good profits during the existence of bitcoin, which means, in their opinion, it is a good store of value. So far good. But this does not mean that it will continue to be so.I agree with you. Most people that believe that Bitcoin is a good store of value are actually those that are already in profits from investing years ago. Ask the same question to investors that got into the market last year during ATH
First, bitcoin cannot grow in price indefinitely, let alone grow rapidly in price. This is contrary to economic laws.
Secondly, even if bitcoin could do this, states would not allow it, because this would affect the stability of their global financial system.
What happens if bitcoin stops growing in price? This will mean complete collapse for him. It will no longer make sense to hold it and it will begin to depreciate very sharply. This will be a big shock in the cryptocurrency market.
if Bitcoin is a good store of value. I believe for now Bitcoin is doing its thing and this might not be the case forever as there will definitely be a stagnation point as you rightly mention. I think that the time of Gold is gradually demishing in terms of adoptions and marketcap. The bitcoin marketcap is increasing on the daily basis, a level achieved within 10years of it's existing. Gold has not grown within this short space of it's existence, and the adoptions of gold in recent time can't be compared to the bitcoin.
It had to conclude that bitcoin will replace gold but anything can happen, no body knew that bitcoin will develop to this level, and more records will be created in few years to come. In opinion, bitcoin is capable to replace gold but may be in near future.
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