Any bitcoin skeptics here?

Kilnarix

Kilnarix

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I wouldn't be surprised if I am the only one. I recently sold all my bitcoin and made a pretty sum. I originally told myself that regardless of how high it goes I will not regret selling it. (easier said than done, I reget it already). One motivation behind my decision was the fear that liquidity would dry up and the exchanges would become unusable. I still think this is a real possibility. I was influenced by an article I read called "The bitcoin black paper" by Nassim Taleb which makes the point that over 10 years since it's introduction, no once actually prices anything in bitcoin, therefore it isn't a realistic currency. (You can pay in bitcoin but nothing is actually priced in bitcoin). The aforementioned paper also lays out how large amounts of infrastructure must be dedicated to bitcoin, specifically mining and exchanges. If something was to interupt these, the price can drop to zero. I noticed myself that bitcoin price follows other financial markets and is primarily driven by fresh money being pumped into the system.

Any other skeptics out there?
 
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Kilnarix said:
I wouldn't be surprised if I am the only one. I recently sold all my bitcoin and made a pretty sum. I originally told myself that regardless of how high it goes I will not regret selling it. (easier said than done, I reget it already). One motivation behind my decision was the fear that liquidity would dry up and the exchanges would become unusable. I still think this is a real possibility. I was influenced by an article I read called "The bitcoin black paper" by Nassim Taleb which makes the point that over 10 years since it's introduction, no once actually prices anything in bitcoin, therefore it isn't a realistic currency. (You can pay in bitcoin but nothing is actually priced in bitcoin). The aforementioned paper also lays out how large amounts of infrastructure must be dedicated to bitcoin, specifically mining and exchanges. If something was to interupt these, the price can drop to zero. I noticed myself that bitcoin price follows other financial markets and is primarily driven by fresh money being pumped into the system.

Any other skeptics out there?
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Generally yes, fiat money has no actual value, but even the price of gold on the exchange does not correlate 100% with its rarity and usefulness as a metal. But as long as it is profitable to investment funds, looting an incredible amount of investments, or unscrupulous "experts" frankly scams the rich douchbahs who understand nothing, who are tired of hearing about fiat investments and not wanting to understand are ready to throw their money into anything, as long as Ilon Musk is allowed to manipulate the market with impunity from time to time and make money on it
Until this works the system will not collapse, and I do not call it an ordinary bubble, it has been developing for too long, too many people are involved in it, even if someone decides to get out and withdraw everything, 1) they will do it gradually, because they don't want to lose money on the spot 2) People who don't want to lose money on the spot will figure out how to continue to hype the whole fucking thing, but now with double force.
 
You're not alone in your skepticism. Bitcoin's dependence on mining and exchange infrastructure is a valid concern, any disruption could cause serious instability. Taleb's point about Bitcoin not being priced as a currency but treated more as an asset resonates; most use it for speculation rather than everyday transactions. The reliance on fresh money for price growth also feels risky. Are you thinking of reinvesting in crypto later, or staying out entirely? It’s always smart to assess the bigger picture.
 
natsuko said:
The reliance on fresh money for price growth also feels risky.
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Of particular concern is where that money will come from. After all, they will be frozen for the near future and will not be in circulation. Which may push bad processes in pricing of other goods. My guess.
 
Saylor compares buying bitcoin to buying real estate in Manhattan, expecting its price to be $13mn by 2045. Peter Schiff predicts the fall and bankruptcy of Sailor. Siegel talks about a rise to 180k in the first quarter and then a 30% drop. Musk became the richest man in the world with over $439.2 billion. All words, words and bubbles. Whose side are you choosing?
Sure, we can try to guess something. But no one knows how the story will actually turn out...

Crytononame said:
Fear index is off the charts.
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It's only an indicator, not a predictor...
 
Nothing is being priced at gold, GSPC, NDAQ, or any other asset.
It's called a coin, but it wasn't meant for day-to-day transactions, but to be an efficient store of value, which it is.

Are you worried about liquidity on a $2T asset? I wouldn't..

By the way, bitcoin is 15 years old, not 10.
 
WAndreas said:
It's only an indicator, not a predictor...
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You're right, indicators are just tools, not magic. But the crypto game is different. The Fear and Greed Index is cool because it looks at what's happening on the blockchain itself, not just the usual price and volume BS.
 
I have been in crypto since 2017, and totally get why some people are skeptics.

Up until know, there still have no real usage of crypto other than being "a store of value" or holding fiats is inflationary.

Almost all crypto projects for the past 10 years are being left in dust or some are just downright scams.

Me myself included, if you TRULY ask me if I had use crypto to improve my life, I personally haven't.

Will I still be holding BTC? yes, mooning is mooning my friend :D
 
It could peak at $200000 according to someone who owns 1000 bitcoins I know, but who can buy it?
 
im that btc skeptic man and I did not even had trust from begining nor today after seen it that will go over 100k. I had the chance to get on board in 16k for first time and then second time when dive to i think 24k, I have people near me who hold btc almost from begining and I was all skeptic they even have funds in other coins even memes and some made really nice exits over 200k euros, bought app, cars good life. Idk what is with me but Im too scared to get into this. I dont have money aside to waste on something that could die instantly.
 
Unfortunatelly I can't share again my thoughts , almost half page A4 was removed "too political for this forum".

Anyway.. the light and short version.


This is from yesterday


Now if you don't follow the media.. Take 10 gallons of coffee and turn on the time machine .


Except of business man Trump is also a great actor (I follow him closely since .. since "Home Alone ") he never change his mind in the long run. (On the other ...Musk is not the first time.. he change his "Bitcoin" mind Tesla WILL accept Bitcoin.. Tesla will Hold Bitcoin.. Tesla Sold Bitcoin.. TEsla has suspended purchases using Bitcoin due to "climate change concerns" ... What has changed today regarding Bitcoin and climate change concerns, aside from the fact that it now uses more power than it did four years ago? :D




History Always Repeats Itself.. the difference ? this time will be epic :) Everytime we have exactly the same movie scenario.. only the actors change! :)

1734609438479.png

In the far long time BTC will/may/maybe worth more than today .. but not today .. today is Greedy party time :)

This is absolutelly not a trading advice .. and yes I hodl crypto
 
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It's not just you, I think a lot of people do too
 
Crytononame said:
You're right, indicators are just tools, not magic. But the crypto game is different. The Fear and Greed Index is cool because it looks at what's happening on the blockchain itself, not just the usual price and volume BS.
Click to expand...
However, this is not always indicative of the actual state of affairs. Greed can also go off the scale when everyone should have run out of it. However, you are right, this indicator is much stronger than the others, I think so.
 
So all these whales and big corporations with millions of btc are all wrong and you are right ?
 
one question in this i believe adequate post OP dont mind me, is there any option to get BTC for free mining, some websites is there any topics and answers on bhw about this
 
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