Bitcoin Failed

I believe that the drop of value of the entire crypto market including Bitcoin is because of all the HUGE billion dollar scams that have happened recently in succession. The trust in crypto has been diminished in the eyes of the public. And considering the democratic process of giving value to things generally it has translated into crypto as well. Also it has to do with the use of crypto. Currently it is being used as an investment, think of stocks. The idea of Bitcoin by its creator or creators was never for it to be an investment, instead as of a new way to transact for goods. But eh it is what it is.
 
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ADA Lovelace said:
where it hit highs, and really we should be even higher now
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ADA Lovelace said:
Bitcoin can be a store of value, like gold
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ADA Lovelace said:
The markets controlled by people who are now richer because, after all, all that money that the country prints goes to the rich.
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ADA Lovelace said:
So instead I would sell my Bitcoins and buy real estate.
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ADA Lovelace said:
The new generations grow up with crypto and they will surely buy crypto before a stock,
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ADA Lovelace said:
That is my summary impression,
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These are populist believes on economics and cryptocurrency that you share here with no scientific or academic basis.
The average crypto investor thinks they know how this works when all they do is gamble.
 
4ry4n said:
These are populist believes on economics and cryptocurrency that you share here with no scientific or academic basis.
The average crypto investor thinks they know how this works when all they do is gamble.
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Nop, did u see the inflation? US printed money like never before, you can find it in any website. We are in recession. I not understand your critic. You are alluding to something you can find in any site. So, maybe you should to spend like 30 minuts to inform somehing about cryptos. You say, u not have idea, but you only see cryptos like gamble, so maybe you not know anything about cryptos.

I am not saying that i know how crypto market work. I try to learn, and i gave my opinion.
 
ADA Lovelace said:
Nop, did u see the inflation? US printed money like never before, you can find it in any website. We are in recession. I not understand your critic. You are alluding to something you can find in any site. So, maybe you should to spend like 30 minuts to inform somehing about cryptos. You say, u not have idea, but you only see cryptos like gamble, so maybe you not know anything about cryptos.

I am not saying that i know how crypto market work. I try to learn, and i gave my opinion.
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I am sorry I think I have replied to your opinion to harsh and now I feel bad.

I just dislike people that take a quick look at crypto and suddenly acknowledge that in the same value as gold, even though the former was just around 15 years and gold since thousands. Also claiming that a system has failed because it did not give you enough revenue in the past year is just not how investments work. If you are in for the overnight win you are chasing a hoax.
 
reaaski said:
Bitcoin is not an investment asset. It's misused by idiots who try get rick quick. Period.
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I wanted to write a long reply, but you basically explained everything in one line.

Sadly, it will continue to ruin people who think it was made for them to invest and get rich.

It wasn't even tied to dollars in the beginning ffs, if you had 1 BTC you had 1 BTC, simple.
 
4ry4n said:
I am sorry I think I have replied to your opinion to harsh and now I feel bad.

I just dislike people that take a quick look at crypto and suddenly acknowledge that in the same value as gold, even though the former was just around 15 years and gold since thousands. Also claiming that a system has failed because it did not give you enough revenue in the past year is just not how investments work. If you are in for the overnight win you are chasing a hoax.
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I think you don't understand my opinion. The price does not define that something is good or bad. I'm here for the long term, not to make fast money. I only buy when things go down.

About gold and bitcoin. Gold is not transactional and not transportable, bitcoin yes.

Bye the way, i have 0 BTC, i am in other projects
 
Crypto will be failing as long as the economy is failing, recessions = layoffs and insolvency
 
The worst situation that I see: Bitcoin will be relegated to a collectable asset in a few years.

Think about it. Bitcoin is now too old to vanish into the air. If it's not a success as an investment or at the financial level, it will become like some wines, watches, old cars or some physical coins.

Bitcoin is viewed as the first global first "cryptocurrency".

For collectors, what would be the price of one bitcoin based on the 21 million available? A lot more than $100k in my opinion, especially if we consider that each year passing, some bitcoins are purely lost and will never be recoverable.

An American double-eagle golden coin has been sold recently for $19 million recently... Collectors can quickly become crazy about Bitcoin in a few years.
 
Houngan said:
If this is your opinion then you are definitely new to crypto. This has happened countless times with Bitcoin. It is its nature. It never was and never will be at a steady value. And if you know how to spot patterns, you can benefit greatly from cryptocurrencies.
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bro, you should see his name first, ADA..a typical shitcoin. And yet you expect him knowing anything about BTC? Not even close.
 
BTC is the proof of "proof of work". No matter how the price it compared with.
 
In last 10 years, many times it acted opposite to market. If you see the total returns in this time interval, it has beaten any other investment product.
 
Bitcoin is a great store of value & you have no patience. Lower your time preference and wait it out.

Don't be that guy who can't handle the down times, sells out, and later when sky rockets you call it a scam, out of disgust of your own bad decisions. Read more about what Bitcoin is, start with Bitcoin Standard & Mastering Bitcoin books, or listen to podcasts with people like Lyn Alden, Dan Held, Pompliano, Gladstein, Saifedean, Breedlove, etc
 
AfyonluTR said:
btc is like gold it will never lose
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not true. it is not physical. and therefore volatile, manipulatable, and will inevitably die one day alongside every other currency. Gold on the other hand will not, it will always have a value because it is not intangible like currency or virtual currency.
 
ADA Lovelace said:
Seeing the current situation, I would like to share something:

Well, I'm not new in crypto and i would like to give a little impression, in case anyone is interested.

Bitcoin failed, that is a reality, at least as a transnational safe value. We saw it with covid in 2020, where it hit highs, and really we should be even higher now. The economy is sinking, a big country printed more money than it should, there is a panic about the future of our world, with cold war between China & Russia vs US & friends, and at the end of the day, Bitcoin can be a store of value, like gold, but transnational and easy to transport, so when things go wrong, you can have a safe haven in Bitcoin.

But no, everything has fallen, so Bitcoin cannot be considered a store of value, it follows the direction of the markets, the markets that have eventually led us to this situation of uncertainty. The markets controlled by people who are now richer because, after all, all that money that the country prints goes to the rich. And if I were rich, and I see that there is an exorbitant inflation, why would I invest my money in something volatile like Bitcoin, which is not a store of value. I can earn 7% or 8%, well, I would be losing money. So instead I would sell my Bitcoins and buy real estate.

So, in short, what do I expect? The value of Bitcoin comes from the community, so as long as people continue to believe we will not go anywhere. The new generations grow up with crypto and they will surely buy crypto before a stock, right now, the world talk about crypto, more poeple come, so it will not disappear or will go to 0. And talking about community, we are at a point where the entire community expects a rise, more people will come wanting to earn money, institutional money may come because they also want to be part of the cake, and we will see good days again.


That is my summary impression, I hope it has not been boring for you.
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Well bitcoin ran from 5K (covid crash) to 69K and you are claiming it is failed absolutely NOT . Look at SP 500 and other indexes every market is having a tough time and bear market is the time you buy and make shit ton of money .
 
Many people have built a solid business around crypto. I think everyone should be responsible for their investments.
 
yes you are not new, but how long you are in crypto?
what maek you judge it failed when the market not even mature?
in any emerging market there is no way it will reach stable point. if btc is stabilized and current price that is when think something is wrong since that mean market have matured. and on what market cap?
not even worth mentioning comparing it to forex market

just see some recent case like ukraine refuge moving out country , those who hold cyrpto feel glad, . since they can sell it and have some money for expense. when they bank acc is froze.
and check news how many fortune 500 company now racing invesment into nft crypto world?
 
Bitcoin has not failed, those who were impatient with investment have failed big time.
 
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