As much as some facts with the OP are correct, though already popular, there are still some facts that are not necessarily true about Bitcoin.
Starting from number 1, Bitcoin should rather be smarted with, if not, you might be poor thinking it would make you rich. The smart ones make money in it by being speculative about when they hold and dump. Also, Bitcoin can't save the world, it would only ease financial flows, and its limited availability will never allow that even if it tries.
Lastly, Bitcoin is not difficult to understand, its technical aspect could be true about what you said, but it's not necessary for you to know them.
Topic: 5 truths about bitcoin, in my opinion? (Read 671 times)
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
Not always, this is a wrong view. Many people lost their money as a result of wrong investments or wrong decisions when buying and selling. How many people sold their bitcoins as a result of FOMO when prices fell and lost a lot of money?
Bitcoin is profitable in the long run when you manage your portfolio with a good strategy.
3. Bitcoin can save the world
Bitcoin was not invented to save the world but rather to replace the defunct banking financial system, so it is better to say that Bitcoin was created to solve the problems of the old banking financial system and not to save the world.
indeed a lot of people feel happiness, because they invest in bitcoin and get big profits.
and lots of people are helped by their economy because of bitcoin.
namely by investing in it.
but there are also those who suddenly become poor because of investing in bitcoin, for example
people who buy bitcoin during the year of 2021, like at a price of 58000 and they sell when the market is bear, an example like selling today at a price of 16000.
but investing in bitcoin will lose if our are impatient and not strong enough to hold on.
and lots of people are helped by their economy because of bitcoin.
namely by investing in it.
but there are also those who suddenly become poor because of investing in bitcoin, for example
people who buy bitcoin during the year of 2021, like at a price of 58000 and they sell when the market is bear, an example like selling today at a price of 16000.
but investing in bitcoin will lose if our are impatient and not strong enough to hold on.
1:Bitcoin have change many life's today.
2:bitcoin have make some poepl and eliminate many people mind from other criminal things
3:bitcoin can save d world
4:bitcoin create many things in the world
Thou I'm new here but I think bitcoin did many things that other platform can't do.
2:bitcoin have make some poepl and eliminate many people mind from other criminal things
3:bitcoin can save d world
4:bitcoin create many things in the world
Thou I'm new here but I think bitcoin did many things that other platform can't do.
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
Yes exactly, especially if they buy the BTC in the bearish market and sell them in the bullish era. But many people or especially newbies are not patient to wait for the long term. However they may be panic enough when the price of the BTC is dropped again and again. 3. Bitcoin can save the world
I read some news and history about how Bitcoin can save the world, how Bitcoin can really save someone's life, like what happened in some certain countries, they are still able to buy food and other things to do in their life because of Bitcoin. But, why do many people hate BTC so much? 4. Bitcoin is not very easy to understand and there is too much misinformation about it.
It is also a process to understand Bitcoin technically. This may not be easy for many people especial the one that is not familiar with this kind of certain technology. But, this doesn't mean that it cannot be understood. This is only a way for learning moreMany people hate btc for some reasons, like they lost their investments because of scam projects. But it is not the fault of BTC if you will think of it. The rise of scam projects is owed to the fact that most of these scammers create crap projects to screw their investors, not because of BTC. BTC can't save the world per se, but it is helping a lot of people survive especially during this pandemic crisis.
Nice subject.
BTC is the only real asset that everybody must have.
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BTC is the only real asset that everybody must have.
If you guys want to receive - for free- sms alerts about crypto market - check this tweet: https://twitter.com/GurgaonMatt/status/1559261291675496449?s=20&t=HSBqEv3ClVnVbj4JPRJiLg
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
Yes exactly, especially if they buy the BTC in the bearish market and sell them in the bullish era. But many people or especially newbies are not patient to wait for the long term. However they may be panic enough when the price of the BTC is dropped again and again. 3. Bitcoin can save the world
I read some news and history about how Bitcoin can save the world, how Bitcoin can really save someone's life, like what happened in some certain countries, they are still able to buy food and other things to do in their life because of Bitcoin. But, why do many people hate BTC so much? 4. Bitcoin is not very easy to understand and there is too much misinformation about it.
It is also a process to understand Bitcoin technically. This may not be easy for many people especial the one that is not familiar with this kind of certain technology. But, this doesn't mean that it cannot be understood. This is only a way for learning more 
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
No, bitcoin will make no one rich. Bitcoin will only make you live comfortable and not to be rich. I can also say that bitcoin will make you rich only if you are rich already. There are thousands of other coins and it has divided the community population. When it was only bitcoin, it moved faster and made so many people rich, now there is competition in the market. So, even in the long run, to get massive profits means you have to invest massively now. And now everyone has the money or the mind to invest that much.3. Bitcoin can save the world
Save the world from what exactly?Hunger;
Recession;
Inflation;
Racism;
Famine;
Plague;
What exactly?
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
1 - bitcoin will only make people very rich if they invest a lot of money in bitcoin
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
1 - bitcoin will only make people very rich if they invest a lot of money in bitcoin
3 - How would bitcoin save the world? bitcoin doesn't work miracles, it's a currency that people use to invest due to high voltage, it can't save the world
we have to be realistic, FIAT and banks will always exist, and bitcoin didn't come to save the world
whatever the perception and opinion about bitcoin that has been used at the present time, whether it's for a transaction tool or as an asset, in essence all collect it and even hold it because they have the belief that bitcoin has a bright future and gives positive hope ....
bitcoin is not a god who can change anything.... but it is the user who can change the role of bitcoin so that it is valuable
bitcoin is not a god who can change anything.... but it is the user who can change the role of bitcoin so that it is valuable
I would guess that the cycles are growing smaller as well. Like when it moved from just under a dollar to over 30 dollars that was x30+ and more, which means when it moved from 100 bucks or so to 1400 dollars in 2014 that was also a bit 14x give or take, and when it moved from 700 dollars to 20k that was about a good chunk I will have to agree with that, but then we moved from 10k to 60k which was just 6x, 7x if you count 68k as 70k.
As we can see, people who are investing now, will still make a good money, better than any stock they can pick or gold, but it wouldn't be as good as the early birds who made x100 and then some on their bitcoin if they are still holding it.
That is mainly because the amount of money required goes up. When the bitcoin world was small, going from 1 dollar to 30 dollar required only a few million dollars, was early days so it was hard to find that, today that’s like not even a price that would change the bitcoin price 30 bucks even at this rate. Whereas, today we need billions of dollars that could change bitcoin, without that we are not going to move at all.As we can see, people who are investing now, will still make a good money, better than any stock they can pick or gold, but it wouldn't be as good as the early birds who made x100 and then some on their bitcoin if they are still holding it.
This doesn't mean we can't see 10x or more increases again, it could happen because there are more people involved right now. But that is still a difficult challenge that I believe barely ever happens, only on full cycles that see a huge bull run, which is once every few years.
Totally disagree with point no. 1 in present situation. Why I am saying that if you buy at 69K and selling it on 17K then how become you rich. Suppose you enter in a market when BTC was up to 60 or 65K then become a rich person is your dream. And above sample is also for long term. Now if it cross to his next higher then it will be beneficial for you. Your second point is valid as BTC will be used as a currency in near future.
But who buys in 69k anyway? That price is the ath of btc and no one will risk during that times. People are waiting for a moment like this where prices are dropping before they accumulate and then they will wait again for another bull run before they sell but that doesn't mean that they will now be rich. Being rich is not easy.Btc is already being used a currency. I only don't agree when he says that bitcoin is relatively stable because we know that it is highly volatile. Some on his list are a fact but some are just a myth like on his number 3. Btc can't save the world lol, that's crazy. We shouldn't expect too much only for just a digital currency.
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
1. Don't invest with the hope of "getting rich". High chance you will be disappointed and end up regretting when you see the bear market.2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
2. It is not widely accepted yet and not "relative stable".
3. How?
4. It is easy to understand how to use bitcoin. We don't need to know the ins and outs of it.
5.Clone bitcoin? You mean create their own digital currency?
I would guess that the cycles are growing smaller as well. Like when it moved from just under a dollar to over 30 dollars that was x30+ and more, which means when it moved from 100 bucks or so to 1400 dollars in 2014 that was also a bit 14x give or take, and when it moved from 700 dollars to 20k that was about a good chunk I will have to agree with that, but then we moved from 10k to 60k which was just 6x, 7x if you count 68k as 70k.
As we can see, people who are investing now, will still make a good money, better than any stock they can pick or gold, but it wouldn't be as good as the early birds who made x100 and then some on their bitcoin if they are still holding it.
As we can see, people who are investing now, will still make a good money, better than any stock they can pick or gold, but it wouldn't be as good as the early birds who made x100 and then some on their bitcoin if they are still holding it.
That's completely normal as volatility always decreases when an asset matures. More users means more stable environment, less coins in the hands of a single individual and so on.
Cycles getting smaller is maybe not the best description. They are getting less volatile but longer. If you count how many days it took for bitcoin to bottom after the 2013 peak and do the same with 2018, you'll see that it took more time and will possibly again take more this time, taking us into 2023. You never know a pattern is valid until it confirms.
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
As well as make a lot of people poor. For a person to gain, someone needs to lose. That's equilibrium.2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
I do not think Bitcoin will be the future, at best it can spark innovation in the future monetary system.3. Bitcoin can save the world
I don't know how can Bitcoin save the world, and it would be great if you share your thought why Bitcoin can save the world.4. Bitcoin is not very easy to understand and there is too much misinformation about it.
True, one of the proof is some of your pointers.5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
I might agree with you on this but wouldn't it be great if you support your claim with data and charts? 
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
Wow this is very impressive because Bitcoin is more than a currency the way we are seeing it. It has so many advantages that is attached to it that makes it unique for holders to make more profits just by holding the way we hold our normal fiat and keep them in the bank. Bitcoin is an investment also a currency that is when it is volatile which makes the price to be going up and down. We can't hold fiat in the bank and the price increases with high profits apart from the normal interest banks allocates to customers but Bitcoin can do more than that. 2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
Become rich or not, we cannot be sure because to become rich we need a lot of money to invest in bitcoin or those who accept adoption very early. But one thing is for sure, bitcoin will make everyone's economy a lot better if they invest and hold bitcoin.3. Bitcoin can save the world
I don't understand what you mean here, how can bitcoin save the world? Bitcoin is a currency, a profitable investment tool, so it can only make people rich as you mentioned (1). But it can't save the world. 
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
clone as in? do you mean duplicate or in creating their own CBDC?
I , for example downloaded the e-Naira app, signed up but deleted the app few weeks after.
There can never be another version of Bitcoin, several countries might attempt creating their own crypto coin but Bitcoin will forever remain Bitcoin, the network can't be counterfeited, like it is with fiat.
You're right as well mate, things never worked as expected for the government over bitcoin, the one that could have been an ultimate punch on is would have been the success of CBDC over bitcoin but their attempt resulted into massive failure, not only in Nigeria but across the world where CBDC was launched, there's a clear difference between centralized currency and a decentralized one and their path can never meet because the main purpose for each is different from the other, no amount of resisting force can bring down the spread of bitcoin and it adoption, the more they try the more they see the opposite.
1. Bitcoin will probably make a lot of people rich especially for long term holders... again
Yup it can happen but must of the time it is depends in luck and patient .Quote
3. Bitcoin can save the world
It is true bitcoin is a virtual currency and And its religion is always to keep its price up and down. It may support some people financially and take care of the world economy but we cannot say that Bitcoin can save the world. Jump to: