Why now, why is cryptography becoming so popular now? THE TRUTH
You might read many articles about how great an awesome Bitcoin is, or how it's not, but why has it gone up so much and so quickly? In a word FEAR!!
Here are the facts on what happened.
On April 7, the world was shocked with an attack from Trump on Syria, it unhinged the population. Everyone that was looking at Trump and had an idea of what he stands for got surprised, they lost trust in those hours with Trump not knowing what to think about him anymore.
https://www.theguardian.com/world/live/2017/apr/07/us-syria-response-donald-trump-assad-pentagon-live
Bitcoin: $1180
In U.S. markets; the Dow fell 6.85 points to 20,656.10, the S&P 500 fell 1.95 points to 2,355.54 and the NASDAQ fell 1.14 points to 5,877.81.
On April 10th, markets are undeceive and fearful.
On April 12th, US bond markets are showing signs of crash.
http://wallstreetexaminer.com/2017/04/stock-market-crash-april-possible/
On April 13th, Trump attacks Afghanistan with a MOAB, markets drop!
http://nypost.com/2017/04/24/this-is-whats-left-after-the-mother-of-all-bombs-hit-afghanistan/
On April 15th, major news reports about housing bubbles in Canada, reminders pointing to 2008 crash.
https://www.theglobeandmail.com/opinion/editorials/globe-editorial-pop-canadas-housing-bubble-before-it-pops-the-economy/article34709215/
On May 1st, Trump attacks the big banks with Glass-Steagall, the market goes nuts
http://www.cnbc.com/2017/05/01/stocks-drop-after-trump-says-hes-actively-considering-breaking-up-big-banks.html
On May 3rd, the US Federal Reserve come out with poor results and promises to raise rates.
On May 3rd, Bitcoin hit new highs at $1516
On May 8th, the secret group called Anonymous warns that people should prepare themselves for WW3.
http://nypost.com/2017/05/08/anonymous-warns-world-to-prepare-for-world-war-3/
On May 10th, Bitcoin hit new highs at $1819
On May 14th, North Korea launches a missile that could be considered a success and major threat to Japan. http://www.bbc.com/news/world-asia-39911530
People are looking at options, Gold, Silver, Bitcoin?
On May 15th, the bull is on the run and Bitcoin rises for 8 days to $2445, rising $626 or 34% in 8 days!
Since then Bitcoin has risen to $2870 highs, Gold is up 4.8%, Silver is up 9%.
We buy Bitcoin because it seems to be a better deal than Gold and Silver, we don't understand it or how it works but we know it's better than the stock market because we looking for safety. Let's not complicated the matter here.
It's not to late to get into Bitcoin if you plan to use it in the future, it's not something you want to trade between currencies it's something that replaces currencies.
And China is hoarding it all, gold, silver and bitcoin as well as the sole manufacturer of mining equipment. I like the timeline format. You should make one :-)
Good idea @belidged, I'll look into it.
I do not think fear is the big driver. The idea of open source permissionless decentralised rules backed currency is.
Wekkel will I think you are right in one sense, but I'm talking about the last month here. Bitcoin is not new, revolutions don't happen because people are seeking more fair treatment, that is something people want but it's not something that gets them to take action. The things that get people to take action are JUSTICE, PLEASURE and PAIN (fear). Some people are happy with the banks as they are, they make enough money and think it works perfectly, but what takes these people to change? Even you Wekkel, had an event of pain that made you start to look at Bitcoin, there are other who are just buying it to make money, they will lose, because it's not the monetary value of Bitcoin that makes it great it's the fact that is an entirely different way of thinking and living, the question is how much are people prepared to leave behind their old ways and move through the "blue door".
I agree that fear is making people look over to the Crypto space, but I'd say that greed may be having a higher impact at this stage. People are looking at crypto gains and are starting to do the maths. Cryptos make any other "volatile" market look a long boring flat range, hence, very attractive to make more money. Especially when the dominant fiat of the country you live on it's taking a pounding (GBP here, pun intended).
So in addition to fear I'd add other 2 that are making cryptography popular:
And one is feeding off the other and vice-versa to cultivate ever more interest.
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