4 ms·
You make a good point. If China shuts off entirely then the potential size of Bitcoin's network could decrease significantly. That's not to say however that Bit
by CryptoJunky 13y ago
You make a good point. If China shuts off entirely then the potential size of Bitcoin's network could decrease significantly. That's not to say however that Bitcoin doesn't still have a significant and increasing network of users. There have been significant gains outside of China as well recently. A large contributor to the high was resultant from the US Senate Hearings which seemed to somewhat validate Bitcoin's legality in the U.S., the world's largest economy.
- jusben1369 13y agoAgreed. I added "Short term" to reflect this is more of a (significant) set back than a downward march. I worry that some might deduce from the article that this is a short term buying opportunity and it'll return to it's previous highs soon. If China is in fact closed it could take a very long time to return to those levels.
- CryptoJunky 13y agoI had originally intended the article to be more of a suggestion to newcomers, that it may be a good time to purchase a bit of Bitcoin if you're looking to get started. It wasn't intended as advice for day traders, but rather for people with long term outlooks trying to enter Bitcoin for the first time, which is what constitutes much of my audience. Rereading I do see how it comes across as short term trading advice though. I suppose I'll have to be much clearer in future posts. Thanks!