Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bayu7adi on December 26, 2024, 02:29:49 AM
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
There is no question in my mind that cryptocurrency is here to stay and will even BOOM in 2025 and beyond most especially since in USA which is its biggest market so far the environment is getting to be more friendly with the rise of Trump and his crypto-loving minions on the scene. Of course, there will also be bad players and there can be some crypto-based platforms that can go underground and be bankrupt but overall the feeling is quite so positive most especially with Bitcoin and yes memecoins too. I am seeing deeper and further developments using the blockchain technology and cryptocurrency and more and more traditional institutions are now looking on how they can participate too and ride with the BOOM. However, for now, three is not going to be a massive away from FIAT as more and more we are getting to be speculators rather than using cryptocurrency like everyday currency - and that is fine with me actually as we are just in the beginning of more things to come into the future.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
Yes, I think that crypto currency market is already achieve best position in cryptocurrency world. I also believe that gradually it's position is developing. Because we know that bitcoin price is increasing gradually in crypto currency market. If bitcoin price is increase, then all crypto currency price maybe increase gradually in crypto currency market. So I believe that if we want to invest in any crypto, then it will be correct decision for us. So I think that hold on bitcoin or other crypto will be best earning way for us.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
As long as there are some people who want or need privacy, decentralized or noncensorable aspect offered by cryptocurrency, it will not fade.
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Bitcoin was never meant to replace cash and the American architecture would not allow any cryptocurrency to handle the transactions of 8 billion people, so on-chain Bitcoin will not be for everyday use by everyone.
Bitcoin has managed to survive for over 10 years without stopping and attracting the attention of many, so it is a revolutionary concept.
The only thing that could stop it is a regulatory consensus to ban cryptocurrencies or an unfixable technical flaw.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
I'm wondering when this idea started to appear tbh. I believe the goal of Bitcoin (the earliest crypto) has already been achieved, which is to offer a digital, trustless payment network. I'm not sure if any alts explicitly stated that they wanted to replace fiat. I guess stablecoins? But most of them won't exist if fiat is replaced by something. While the crypto market will become more controlled by the government, I'm sure the decentralized system will stay alive as mentioned above. CMIIW.
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- It is said that as long as there are communities in this industry that believe in decentralized digital assets like bitcoin, and other altcoins listed on the top market,
it will not disappear but will continue to exist in the field of the crypto industry.
Particularly as 2025 approaches, many are probably expecting that their altcoin holdings will make good profits as their altcoins will boom in the upcoming bull run.
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I have no doubt that cryptos are not just a trend, after all, Bitcoin has been around for over 14 years now
A good example is the internet, which many also doubted and thought was just a trend, and today we can't live without
We are living in a very interesting time in which many projects are emerging, everything is relatively “new” and as time goes by only good projects are kept alive and grow stronger.
Just like the .com bubble, we may be living through this moment, and in a few years we'll see the relevant projects
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We moved a long way from calling it as bubble and if someone still claims it is they're too blind to see what's the reality. It's already making governments to create policies on it's own kind and still a lot of potential to grow. Trump is showing making the Bitcoin as a part of government reserve which is going to be the next big thing for crypto.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
Imagine going to a church in 1600 and asking how long Christianity will last, you will end up burned on a cross, then go to a pub in the Western world now and ask a question about it, you will get only laughs. Same here, you're preaching to the choir, there is no way anyone here would say crypto is a fad, even if they believe that because it's in their own interest to say that, you can't find anywhere in the world a more biased source to which you can put this question.
But again, everything is possible, gold has been replaced, checks have been replaced, TV is about to be replaced, hyperstores and gas stations are looking at a dark future, nothing is eternal here.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
This was on the very first hit of Bitcoin price surging to $20k which first brought the fear of Bitcoin to financial institutions round the world. Financial institutions called Bitcoin a meer bubble due to the volatile increase in price. I guess, the $100k price that Bitcoin broke has become a shocker to them all.
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
I don't think Bitcoin will replace the use of fiat currency, it will have it's effect for international and national transactions, but for our normal daily purchasing of groceries, the native fiat will have it's part to play. Though, it could be that majority of people will be making demands for crypto currency for their daily transactions, when it comes to online sales.
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
In actuality, Bitcoin is on a revolutionary trend, to readjust the financial institutions and reshape Fiat money. For me, adapting to every change is a major to survive anywhere. Changes that will come through crypto currency will only be accepted. Speculations is a valuable asset in crypto currency, that's the fun in it, while the innovation is change it will bring to the real world. They will both be accepted and adopted.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
How can governments stay the same and won't interfere they first made a mistake by suppressing it and by banning it, but after they realized the mistake so they start adopting it now and will try to regulate it and make people follow their rules in order to use the crypto and with the they will make things more centralized by praising the kind words of decentralization with proper security haha.
Crypto will not fade away, not because it has become a 3+ trillion market cap, and BTC alone with the most of the market cap, sits at number 7 on the top world assets list by market cap. It can't just be Rugg pulled or bubbled popped it has become bigger.
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We moved a long way from calling it as bubble and if someone still claims it is they're too blind to see what's the reality. It's already making governments to create policies on it's own kind and still a lot of potential to grow. Trump is showing making the Bitcoin as a part of government reserve which is going to be the next big thing for crypto.
What trump did by choosing bitcoin as a reserve for government funds was the right move. because bitcoin can hedge and avoid inflation.
I never thought bitcoin was a bubble, because so far the price of bitcoin will be more expensive every year during the 4-year cycle.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
Having this thought in bull run is normal because everwhere is crypto crypto everyone will be talking about it and social media will be full of content on crypto and countries will be investing and adopting crypto.
In this environment a person can think if its a bubble or the trend will stay simple answer is trend will not stay once the bull run is over everywhen will go the their homes like after watching match in stadium they leave the mess behind though but this is how market works.
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seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
This is to be expected because not all crypto were created to be useful in the first place. Some were created just for fun while majority were for money grabs.
Bitcoin is no longer a trend setter and could not be considered as a bubble anymore. I could not say the same thing for the rest of existing cryptocurrencies.
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have you prepared yourself to welcome these two scenarios?
because the government is trying to regulate the market you can be assured crypto will exist even after a 100 year and miners will still be mining fraction of BTC per block.
there have been companies trying to use stablecoin for payment. you can already figure this stablecoins are like those paypal or venmo where you can pay any one with for products and services. at least for stablecoin but for altcoins, some of them may just disappear due to regulations or due to them being scam.
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Bitcoin was never meant to replace cash and the American architecture would not allow any cryptocurrency to handle the transactions of 8 billion people, so on-chain Bitcoin will not be for everyday use by everyone.
Bitcoin has managed to survive for over 10 years without stopping and attracting the attention of many, so it is a revolutionary concept.
The only thing that could stop it is a regulatory consensus to ban cryptocurrencies or an unfixable technical flaw.
It is obvious that many people had been insinuating the possibility of Bitcoin replacing Fiats, unfortunately, this idea wasn't on the Bitcoin white paper, and i think that it was not part of the goals of the founder(s). Bitcoin replacing fait insinuation has caused a lot of debate, even banks were keen on seeing how they can bring down Bitcoin.
On all the challenges that had happened in the past 15 years Bitcoin/altcoins is still moving against the thought of governments and haters, it had become clearer that Bitcoin has come to stay.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
After more than 10 years of existence, I have never doubted that cryptocurrency is integrated on many marketplaces and in many industries; it cannot be considered or even thought of as a fad; we have past that, and yes, there will be doubters, but their numbers are dwindling, and in the future there will be no more doubters because it will be in our consciousness and part of our lives.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
There have been several challenges against the cryptocurrency markets that should have taken away its popularity and ended it if it was a trend, but unfortunately for those who have expected this to have stopped by now, crypto continues thriving. so far, cryptocurrency is looking revolutionary.
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Crypto has become big enough that it can no longer be called a bubble. Plus, couple things like smart contracts and everything being transparent — I actually consider them to be a revolutionary.
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This is a financial revolution and it is gradually fading away the era of fiat. Although fiat is still common but the truth remains and this is what is currently happening as Crypto has taken over financial industry. Investment strategies have changed for good and people are taking advantage of the digital economy to boost their portfolio and do far there have been lots of positive impart on the existence of Crypto and it could visibly be seen in the world.
Looking at the current situation or status of Crypto based on the recent developments and happenings, there is every possibility of a full blown global adoption coming soonest and it is coming with a full force were government's would have no option than to fully adopt and Integrate it into their economies while using it as a store of value.
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This is a financial revolution and it is gradually fading away the era of fiat. Although fiat is still common but the truth remains and this is what is currently happening as Crypto has taken over financial industry. Investment strategies have changed for good and people are taking advantage of the digital economy to boost their portfolio and do far there have been lots of positive impart on the existence of Crypto and it could visibly be seen in the world.
Looking at the current situation or status of Crypto based on the recent developments and happenings, there is every possibility of a full blown global adoption coming soonest and it is coming with a full force were government's would have no option than to fully adopt and Integrate it into their economies while using it as a store of value.
I also think so, at the beginning of the launch of bitcoin the government rejected bitcoin and many negative issues attacked bitcoin. But now the government must adopt bitcoin and allow its citizens to invest in bitcoin because bitcoin is getting more popular and the government cannot refuse it.
by allowing and making rules, the government can get taxes from bitcoin and crypto when its citizens transact on local exchanges.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
I have never thought of cryptocurrency coming to an extinct in the future. There is nothing that is not possible in this technological world, but I can’t get to fathom anything that will come and supersede the existence of cryptocurrencies and will have an edge over it and can replace the fiat currency and also cryptocurrencies in the future. I haven’t positioned myself for what I cannot see or feel that it is coming. So I am mostly just preparing for what I see happening now and how the crypto world is transgressing. It is better to situate oneself in a likely profitable position at all times as even the government are delving more into the crypto world. So it doesn’t look like something that will collapse or stop to exit anytime soon.
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There will always be parties, both countries and certain parties who will remain against and try to bring down or regulate Bitcoin and crypto as a whole. There are even those who still intend to bring down Bitcoin. However, Bitcoin is still Bitcoin with all its unique characteristics. 2025 will be a bull trend, and after that, the bearish cycle will make the price of Bitcoin drop, and that has become a normal cycle, although many may add negative news, but we are used to the bearish cycle where the price of Bitcoin and crypto as a whole will really drop. but we believe that BTC will rise again and skyrocket when the bull comes again.
Then regarding crypto that shifts fiat, this will be difficult, becoming an alternative currency, it might be more acceptable, but if it is to shift or replace fiat, this will not be easy.
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Many have said that crypto is just a momentary trend like a bubble and there are many people who have guaranteed that Bitcoin will never touch 100k. I am sure that they are currently feeling regret and at the same time people all over the world are criticizing them. I firmly believe that Crypto is the future revolution just like before the conventional currency was gold and silver and then it changed to the current fiat currencies and then it became digital currency and within digital currency came a more upgraded version of decentralized eco system cryptocurrency. I am sure that in the next 50 years this cryptocurrency is going to bring many big changes in the world economy.
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since bitcoin first appeared, the financial world has not been the same... governments have started to interfere in cryptocurrency affairs... some even say this is just a momentary trend like a bubble...
I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
seeing the unbalanced growth of crypto between those caused by innovation and others caused by speculation...
have you prepared yourself to welcome these two scenarios?
Yes, as at early 2016 many people sees Cryptocurrency as a bubble ready to burst, in facts, there were many people who were critical about Bitcoin, different uncountable hate speeches were made from different people, governments, and organizations.
As we are already seeing, Bitcoin has been able to silent many of these criticism till date, most of theses who were critical, campaigning against Bitcoin are now investors and promoters.
I am confident that crypto is not just a momentory trends but its 100% revolutionary digital assets class that will be in the futures.
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On a theoretical level the bitcoin has particular benefits for the financially vulnerable. But they can be achieved only in the medium term. Because the market matures more on adaptation and practicality than on speculation and volatility. Some promising examples of adaptation have already been found in different parts of the world. Overall the sentiment may be quite positive there will be bad players and some crypto based platforms who may have many levels of losses. I see deeper and more development using blockchain technology and cryptocurrency and more companies may be listed in the future.
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On a theoretical level the bitcoin has particular benefits for the financially vulnerable. But they can be achieved only in the medium term. Because the market matures more on adaptation and practicality than on speculation and volatility. Some promising examples of adaptation have already been found in different parts of the world.
What adaptation and what progress?
It's all about the money made, if you look at actual usage is down the drain, real life acceptance is at it's lowest since everyone is holding their coins to cash in profits in $, nobody cares anymore about the principles that were the basis in 2009, it's al about pump and dumps and making $.
Once the cash cow is milked dry, what will be left?
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Yes of course we have to be openminded on what the world and time awaits us things are happening already wherein countries started to see Bitcoin or cryptocurrency it's potential because we all know inflation is getting high and sanctions are popping here and there I think this is more of a survival thing that we need to adopt and be prepared for the future revolution.
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As long as there are some people who want or need privacy, decentralized or noncensorable aspect offered by cryptocurrency, it will not fade.
Seeing that many users are more inclined to be speculators when they have BTC, it seems like it will be a bit of a challenge for real users of crypto currency... I know, maybe people who use Bitcoin for transactions will not be affected by the existence of speculators, but this is related to popularity, the smaller the popularity of BTC, the narrower the room for it to be a currency that is traded... and I'm sure it interferes with freedom a bit... although it doesn't fade, it will be a bit painful when it starts to be abandoned.
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This is a financial revolution and it is gradually fading away the era of fiat. Although fiat is still common but the truth remains and this is what is currently happening as Crypto has taken over financial industry. Investment strategies have changed for good and people are taking advantage of the digital economy to boost their portfolio and do far there have been lots of positive impart on the existence of Crypto and it could visibly be seen in the world.
Looking at the current situation or status of Crypto based on the recent developments and happenings, there is every possibility of a full blown global adoption coming soonest and it is coming with a full force were government's would have no option than to fully adopt and Integrate it into their economies while using it as a store of value.
I also think so, at the beginning of the launch of bitcoin the government rejected bitcoin and many negative issues attacked bitcoin. But now the government must adopt bitcoin and allow its citizens to invest in bitcoin because bitcoin is getting more popular and the government cannot refuse it.
by allowing and making rules, the government can get taxes from bitcoin and crypto when its citizens transact on local exchanges.
Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
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Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities.
The government is afraid that bitcoin will be used for money laundering.
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Cryptocurrency is not like a testnet for other projects which may eventually fades away and we stop hearing about them again after some time, this is why we keep preaching that bitcoin in crypto has come to stay, if other cryptos are not sure or reliable, then we have only one of them which can gain our trust and confidence and that is bitcoin, we don't have to fear on what tomorrow maybe for any reason, because crypto is here to stay as an alternative to our traditional payment system.
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It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities. The government is afraid that bitcoin will be used for money laundering.
In the previous years, the government was not yet able to fully grasp the significance of cryptocurrency hence they were then acting misguided as to what to do and how to treat the rise of it with some fearing that it would be a big threat to the economy and the dominance of the dollar especially in the international scene. Of course, the concern on money laundering and illicit use of it were part of the mix also and the tax factor is one big concern. Past forward today, there is already an emerging good understanding of cryptocurrency most especially in 2025 when a new POTUS and a new Congress will come on the scene. I would say that we are all evolving on many facets and many things are looking good for cryptocurrency overall.
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We moved a long way from calling it as bubble and if someone still claims it is they're too blind to see what's the reality. It's already making governments to create policies on it's own kind and still a lot of potential to grow. Trump is showing making the Bitcoin as a part of government reserve which is going to be the next big thing for crypto.
What trump did by choosing bitcoin as a reserve for government funds was the right move. because bitcoin can hedge and avoid inflation.
I never thought bitcoin was a bubble, because so far the price of bitcoin will be more expensive every year during the 4-year cycle.
The question is whether it is true that BTC can reduce or avoid inflation in the future, sometimes we are also confused by the economic situation, currently various methods have been carried out but inflation cannot be avoided, such as taxes, interest rates have been increased but it still occurs
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We moved a long way from calling it as bubble and if someone still claims it is they're too blind to see what's the reality. It's already making governments to create policies on it's own kind and still a lot of potential to grow. Trump is showing making the Bitcoin as a part of government reserve which is going to be the next big thing for crypto.
What trump did by choosing bitcoin as a reserve for government funds was the right move. because bitcoin can hedge and avoid inflation.
I never thought bitcoin was a bubble, because so far the price of bitcoin will be more expensive every year during the 4-year cycle.
The question is whether it is true that BTC can reduce or avoid inflation in the future, sometimes we are also confused by the economic situation, currently various methods have been carried out but inflation cannot be avoided, such as taxes, interest rates have been increased but it still occurs
In my opinion, bitcoin can hedge assets well, so far because the determining factors for bitcoin prices are demand and supply. Bitcoin is not affected by inflation if demand is high enough and many investors buy bitcoin to protect their assets. And this has been done several times in the past.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
As long as there are some people who want or need privacy, decentralized or noncensorable aspect offered by cryptocurrency, it will not fade.
And besides the people who needed privacy, decentralized ecosystem, for those who believe that cryptocurrency is a store of values, and s hedge against inflation, the revolution will definitely continue to strive in the future, it will not fade at all.
Again, many people who sees cryptocurrency as an assets class, Just like gold, this will be an added advantage to the revolution, and in my opinion, It will land in the moon!.
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I started to think, will this crypto actually just be a trend that will fade, or is it still possible to become a revolutionary currency that shifts the existence of FIAT?
As long as there are some people who want or need privacy, decentralized or noncensorable aspect offered by cryptocurrency, it will not fade.
And besides the people who needed privacy, decentralized ecosystem, for those who believe that cryptocurrency is a store of values, and s hedge against inflation, the revolution will definitely continue to strive in the future, it will not fade at all.
Again, many people who sees cryptocurrency as an assets class, Just like gold, this will be an added advantage to the revolution, and in my opinion, It will land in the moon!.
Any great invention presupposes our readiness to embrace the change and delight in one’s possibility. Cryptocurrencies are perhaps one of the only ways in which a tangible representation of technological advances is visible in people’s daily lives. This way we unlock windows for more participation and inclusion to be captured in the system as more people benefit. This technology makes me closely envision a world of interconnectivity, most especially as it relates to economic fairness to every person. What this development shows us is that technology was not the problem or the solution, it is about how we apply technology in furtherance of a common good for our future generations.
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In my opinion, bitcoin can hedge assets well, so far because the determining factors for bitcoin prices are demand and supply. Bitcoin is not affected by inflation if demand is high enough and many investors buy bitcoin to protect their assets. And this has been done several times in the past.
If to protect assets I think this is the main purpose of bitcoin, it's just that I think if bitcoin experiences a decline then we will experience financial losses, but this could be even higher, actually investing in bitcoin is currently a fear in itself if it experiences a decline especially when buying at a price range of 100k$ up yesterday, where it takes 3-4 years to make it higher than the purchase price, this really has to use cold money and to avoid panic when btc experiences a decline
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Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities.
The government is afraid that bitcoin will be used for money laundering.
- Even before Bitcoin, money laundering was happening, even without bitcoin, fiat was also being used for illegal activities. So, for me, the main reason why other governments don't like bitcoin or cryptocurrency is because they don't get any tax from it.
Secondly, its decentralized nature means that no government in the world will ever be able to control it in this era, that's why other countries just adapted it because they also saw an advantage in it to help their economy and an example of this is El Salvador and the country of Bhutan, right?
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The attitude of governments towards cryptocurrencies has been much more flexible than before, although this has not been seen in all countries, but some countries have already started to change their policies.
Cryptocurrencies are highly volatile, so for some, investing in this platform is too risky. People's interest in crypto is gradually increasing, which is why they can now think more about it. The way crypto is being supported will attract more people's attention in the future. In the meantime, the US has plans to create a strategic bitcoin reserve and other countries will also want to do so. Because of this, crypto will now develop into a stronger position in financial world. But I would never think of crypto as a competitor to fiat.
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Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities.
The government is afraid that bitcoin will be used for money laundering.
- Even before Bitcoin, money laundering was happening, even without bitcoin, fiat was also being used for illegal activities. So, for me, the main reason why other governments don't like bitcoin or cryptocurrency is because they don't get any tax from it.
Secondly, its decentralized nature means that no government in the world will ever be able to control it in this era, that's why other countries just adapted it because they also saw an advantage in it to help their economy and an example of this is El Salvador and the country of Bhutan, right?
I will agree with your opinion here that one of the reasons why the clamp down on Bitcoin and Crypto is strong is as a result of the decentralised nature were nobody has any autonomy and control over it. This is why the government wants to exercise their power over everything by always wanting to control everything to their own way.
I believe with the regulations on cex, the government can now collect tax and also monitor transactions as it pleases them. They were able to do this because the cex allowed such for their own selfish interest. As it is business for the CEX, so it is a business for the government and an opportunity to compel the cex to accept their policies before they could operate within their jurisdiction and also allowing their nationals to use their platforms.
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Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities.
The government is afraid that bitcoin will be used for money laundering.
- Even before Bitcoin, money laundering was happening, even without bitcoin, fiat was also being used for illegal activities. So, for me, the main reason why other governments don't like bitcoin or cryptocurrency is because they don't get any tax from it.
Secondly, its decentralized nature means that no government in the world will ever be able to control it in this era, that's why other countries just adapted it because they also saw an advantage in it to help their economy and an example of this is El Salvador and the country of Bhutan, right?
uyeah because the government does not get tax from crypto transactions that makes the government not allow bitcoin, this is the reason why the government used to oppose it and now the government can get tax from crypto transactions on local exchanges. so it's not a problem anymore.
if money laundering already existed before so it's not only through crypto.
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Obviously, I believe the initial reasons why the government was clamping down on Bitcoin was as a result of the tax and other benefits that they weren't receiving from Crypto and Bitcoin transactions hence their actions and fight against it. As at that time, individuals were bypassing the government institutions and it was obviously clear that the government wasn't really getting their returns as usual and that warranted them to investigate and finding out what must be happening and I believe they discovered it was Crypto hence their fight and actions against it.
It's not just taxes and benefits that the government didn't receive when crypto first existed that they fought it but what I heard was because of government concerns that crypto would be used for illegal activities.
The government is afraid that bitcoin will be used for money laundering.
- Even before Bitcoin, money laundering was happening, even without bitcoin, fiat was also being used for illegal activities. So, for me, the main reason why other governments don't like bitcoin or cryptocurrency is because they don't get any tax from it.
Secondly, its decentralized nature means that no government in the world will ever be able to control it in this era, that's why other countries just adapted it because they also saw an advantage in it to help their economy and an example of this is El Salvador and the country of Bhutan, right?
uyeah because the government does not get tax from crypto transactions that makes the government not allow bitcoin, this is the reason why the government used to oppose it and now the government can get tax from crypto transactions on local exchanges. so it's not a problem anymore.
if money laundering already existed before so it's not only through crypto.
I do not see money laundering as an excuse for the government to fight Crypto and Bitcoin but rather the taxes and benefits that they are not getting are just the reasons for their actions. Laundering has been in existence for a long time before now and it is not a new thing in government but rather the government always looking for means to get more money and Crypto transaction without taking fee and taxes are just their major worries because they are missing out of millions in revenue hence their clampdown on Crypto.