Topic: 5 truths about bitcoin, in my opinion? (Read 789 times)

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.

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.


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.

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.

Many 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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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.

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?

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

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.

Save the world from what exactly?
Hunger;
Recession;
Inflation;
Racism;
Famine;
Plague;
What exactly?

Bitcoin coin make you to be rich if you are rich already.  If you are having the average income and expect bitcoin  to make you rich it is impossible. Bitcoin helps to have extra money to support  and be financially stable.

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

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.

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.

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. 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. 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?

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.

As well as make a lot of people poor.  For a person to gain, someone needs to lose. That's equilibrium.

I do not think Bitcoin will be the future, at best it can spark innovation in the future monetary system.

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.

True, one of the proof is some of your pointers.

I might agree with you on this but wouldn't it be great if you support your claim with data and charts?

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.

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.
 
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.

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.

Yup it can happen but must of the time it is depends in luck and patient .

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.

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.

Like the OP said, they are his/her opinion about Bitcoin. Some of which I do agree with and some of which I don't. For example, nobody truly knows the future of bitcoin. We are all speculators. I don't think a 3rd of the worlds population even knows about Bitcoin. Bitcoin still has a long way to go.

I believe that Bitcoin can save the my world. For example, when the youths in my country protested against police brutality. A lot of people donated in bitcoin to help pay for the medical bills and carry out other expenses of victims during the protest. So I can say that bitcoin saved my world.

Probably.


I'm wondering at the level of stability Bitcoin's price would reach in the future. Would it be as stable as fiat?


That's too general a statement. Big words. I don't agree with this obvious exaggeration.


One doesn't have to understand everything about Bitcoin. In the same manner that people don't have to understand everything about fiat and planes and washing machines and toasters.


Bitcoin isn't blockchain and blockchain isn't Bitcoin. Clone Bitcoin?

Bitcoin came along and gave us the opportunity to be financially free. But it cannot bring us the available wealth, that opportunity is because we know how to seize it and keep it.

You just want to spend money to invest without knowledge, don't know anything about bitcoin, you should not expect a worthy reward from bitcoin. People who become rich from bitcoin, they study and learn about bitcoin from there they have undying faith in bitcoin so they deserve the rewards that no one else has.

I think not only about amount with how much invested on bitcoin but also moment he try to invest and entry buying bitcoin, no matter and what for investing much money but he made wrong time when investing with bitcoin, some investor have wrong moment when investing bitcoin still reach all time high price, one years later keep holding not any profit yet because bitcoin price drop drastically. We found with many investor try to invest with huge amount when bitcoin on ath price but now when drop they think bitcoin as bad investment way, just mistake made why keep invest when bitcoin have been all time high?

There's a possibility but it depends on how much you invest to achieve the goal of becoming rich. What im certain is, you'll gain if you hold for long period especially if the price reach another ath. However the word rich is only for investors who invest huge amount and able to hold it for years until there's a good result already.

Save the world? How exactly?

Yes it's possible. But it might also bankrupt him in the long run and that's the risk. There are benefits and there are risks.

There are many advantages and I think this has been in its innovation. You may have forgotten some things and you didn't mention them, bitcoin is an innovative payment network with a decentralized idea and it's not just about receiving and sending money.

I don't know exactly, it has to have supporting details and we can't just reflect on the benefits.

It is not easy, this is subjective and never the same between one user and another because our ability to gain knowledge and learn it is very different. Effort will improve your skills, and there are plenty of great places to get the right information.

Governments are lying if they say bitcoin is useless and the disadvantages outweigh the benefits. Adoption is a fact of how good this technology is, but the government has spoken differently about it. The network will get stronger and stronger, bitcoin has great potential as a payment alternative but not to replace the existing financial system.

I think he should have been clearer on what aspect bitcoin can save the world. Maybe he meant financially?

If so, bitcoin can indeed help to save the world by being a tool used to empower average citizens when paying and receiving for produts and services or when simply storing their money.

On the other hand, bitcoin alone does nothing. Jobs opportunities are needed in first place. Without jobs bitcoin end being useless, because most people won't be able to earn or buy it.

Pretty sure it couldn't. When we were in war, we would ended up using gold and dirhams as our payment anyway when the technology is cutted off and stuff. We will back to our root using those currencies.

New people have been told that it's for currency, but there is so much in-depth stuff to even dig in especially the technology behind Bitcoin(Blockchain) and some of them have been implemented for security purpose which is nice. When they know Bitcoin is not just currency, they would probably be overwhelmed with the stuff they learn.

Without a doubt that asseveration out of the five points the OP makes is the one that is completely mistaken, bitcoin as amazing as it can be and as influential as we think it may be is not going to save the world or anything remotely close to it, it can help us to reach a greater degree of financial freedom if we use it appropriately, but it is just a possibility, for all of those which invested their money in bitcoin at the ATH and sold for a bad price investing in bitcoin did not help them at all.

Holding will not lie. If we are patient, with enough capital, holding for several years, buying Bitcoin during the bearish market and selling them in the bullish era will be really worth. They will make us high profits as long as we are still holding them although in this bear market.

Bitcoin is not only the future, Bitcoin is Laos the present that has been being a very worthy investment and asset. This is not only a currency for global payment methods but also a digital asset which can make us get high profits for holding or even normal profits from trading.

Maybe you need to explain this point in detail, what kind of saving the world?

Technically yes, this is very difficult to understand. But as long as we are willing to learn, this is not a kind of unable thing to learn. This is difficult but still accepted to learn. Btw, Bitcoin is also easy to learn at first to understand the general information of Bitcoin, not the technical one.

Bitcoin acceptance and adoption has been widely spreading. That is why many more people know Bitcoin, accept Bitcoin, and use Bitcoin. However, in fact,not all people and contries acept Bitcin. This is always controversial when talking bauot Bitcoin because some countries still make this illegal

Correct...
in what way can bitcoin save the world...?
maybe saving assets and finances can happen to every individual or strengthen the economy of every country, but bitcoin being able to save the world is impossible and impossible. we know bitcoin war conflicts can only serve as a tool to be able to contribute and help those communities affected by conflict the

Bitcoin make some people to have a big industries and stop some youths from life stealing. Bitcoin has stopped many things across the nation and if you notice that since the existence of Bitcoin it has enriched some people from poverty. Trading of cryptocurrency have being one of the major concern and to stop youths from their evil doing doing. And i believe that many people now is not castigating the usefulness of cryptocurrency. Because bitcoin is now using exchanges of goods and services

Are these truths or just your opinions?

Bitcoin can't save the world. That's bullshit. The world cannot be saved. Most importantly, it cannot be saved by free money, even if it's in its purest and most honest form.
To save the world you'd need to get rid of corruption and governments. Maybe a alien invasion can save us

In that case, absolutely. No fiat currency can compete with Bitcoin, in terms of the potential money that can be made, but also the features that Bitcoin offer. Unless, fiat changes with this digital money era we're going to go through, and I mean change significantly it'll likely be left behind, at least for the more technical, and privacy conscious people, which hopefully is the majority of the population in the future.

I'm personally more comfortable with having my money in Bitcoin than trusting a bank, but I do believe I'm an outlier in those terms. Most people look for the safety net that banks can provide, and that's alright too.

I've seen many people who were not rich and had financial problems during the last years while they are not independent that's to bitcoin and holding bitcoin.


While many people are thinking they know bitcoin completely and they enough information about it if you look technically and deeply you can see understanding blockchain and blockchain projects is not much easy for people, while this can not be a problem because having this information is not important for the normal people and investors of bitcoin.

Bitcoin can save the world, it's true. Not in the way you'd think. And probably not including us in the saved

At the risk of being off topic, you know that behaviour when people increase their spending exponentially even though their income increase is not?

I actually recently met someone who did that with Bitcoin... unfortunately somewhat close to me (a relation of sorts). Bought Bitcoin at a good price. At ATH took out a huge loan to buy a new thing, thinking Bitcoin proceeds would offset the interest.

Well, yes, they'll probably have to end up selling everything and still get to pay off a loan.

So Bitcoin coulda saved them. They just didn't know how to be saved. And that's the truth about Bitcoin.

1. I think expecting somewhere around 5x profit is very reasonable, 15x profit is possible but perhaps unlikely, and expecting 50x, 100x or something like that is unreasonable. So profits can still be high, but if one invests $100 now, it can become up to $2000 but not $10,000, in my opinion. Thus whether you get rich depends on your initial investment.
2. I think we'll have more of Bitcoin in the future, but it's not very stable and in places with low Internet penetration it's barely accessible. Also, the network can't handle tons of transactions at once, so Bitcoin's future as a currency is limited unless we're talking about additional solutions.
3. Overstatement.
4. True, but it's the case about tons of things.
5. It has also spread to less than 5% of adult population of the world, so it might be less than many assume.

Let me add my 5 truths about bitcoin.

• You gain a greater capital appreciation than holding your national currency (with or without these little interests).
• Getting involved with it broadens your horizons.
• If wallet setup was made properly, you can't have it confiscated.
• It respects your Internet privacy.
• You gain full transparency over inflation rate, transactions, total coins in circulation etc.

Bitcoin will only make some people rich and not too many people because some who bought at $17k sold already for $22k, some are waiting for $30k. Bitcoin is a potential crypto, perhaps only few people understands it, and those who understood may hold for a very long time. They will win.
 How do you mean Bitcoin can save the world? Please be more specific on the number 3, Bitcoin can save some investors the stress of buying some assets that really require their commitment when they can just own 1 or more Bitcoin safely stored in their device wallets without the Risk of theft, damage, paper filling and even without involvement of third party.

I don't know where the OP got some answers that he said were bitcoin truths, but there were some points that got opposition from other members. If the OP does understand bitcoin it should also include some valid sources.

And the most absurd is about Bitcoin that will save the world. It should be explained how the rescue was, because bitcoin could not stop the war between Russia and Ukraine and several other wars. Saving the world is a complex word that can have different meanings.

What?
Loss can only happen when you sell at a lower price. If you keep holding and accumulating during a bear season, do you think you're lossing because the value of Bitcoin is down? Ultimately not.
If you're just holding a specific amount without accumulating, then I guess the possibility of getting huge amount of profit might be way lower than people who's actively accumulating everytime they get the chance buy at a lower price.

Bitcoin is good, but only in financial terms. Please don't exaggerate what bitcoin can do, bitcoin is not the god that can save the world.
Bitcoin is not too difficult to understand, anyone who knows how to use a smartphone can use bitcoin. Misinformation is alarming these days: many people still think bitcoin is a Ponzi scheme, a scam. These concepts come from scammers who have created projects impersonating bitcoin to scam users, making them feel bitcoin is a scam.

I believe that is exactly what the op meant , some countries have attempted this including my country Nigeria, the government launched a digital version of Naira which they called e-Naira, but unfortunately, I can say that the project wasn't successful as not many people find the project interesting enough to use it.
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.

it may but eventually not all, because we don't invest on the same day and we are not selling as well on the same day, the procudures adopted by each individuals differs from each other.


I don't understand what you meant by the word stable here but know this that bitcoin is volatile and will always be, the only acceptable stability in it is the value it has created.


how? thou i believe bitcoin to rescue individual from economy crampdown but it's not a collective thing, it has to do with individuals


aren't you part of those making things more complicated because you're not giving information as needed in details, but learning is the key to everyone who seek to know about bitcoin, no one is born with it


clone as in? do you mean duplicate or in creating their own CBDC?

For bitcoin to make people rich, people have to invest a lot of money in it. And only rich people can do that. Thus, the formula where the rich get richer works. Of course, the controversial question is who and how much is considered wealth.
In order for bitcoin to save the world, it must first be accepted, but for now, its acceptance cannot be universal.
The whole list of "truths", OP, should have been more fully explained from your point of view, and probably many would have accepted your point of view, but for now, the phrases are only taken out of the context of general conclusions.

How will bitcoin save the world? Can you explain this as everyone thinks that bitcoin is a lifesaver  

You will only be rewarded if you hold bitcoins and getting bitcoin is not easy. You will either have to convert your fiat to collect bitcoins or work / provide service for bitcoins. Many people think that getting bitcoins is easy as compared to fiat money, which is totally a wrong perception.

I mean, yea — maybe not rich, but at the very least far better off compared to just holding their local currency.

Also, doing finance and investing well will require them to not necessarily put in a huge lump sum of money, fortunately they can just DCA a certain amount after every paycheck (if they can afford investing in risk assets, of course).

tl;dr it's not just solely bitcoin that's going to help people significantly, but their other financial decisions as well.


That's why you should be financially responsible to not over-invest, so you wouldn't need to sell at lower prices when you suddenly need the money.

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.

I'm probably going to say something a little dumb here, but holding Bitcoin in my opinion in the long term is probably going to mean you profit. I mean anything from five to ten years of holding it. However, even if it x10, if you've only got a dollar invested, that's only 10 dollars. So, generally you've got to have a significant investment in Bitcoin to be able to feel the benefit in the long term.

If you're aren't significantly invested, it's not likely to change your life, which I think is what the OP might be missing a little bit. Not everyone is going to have their life changed, simply because they're invested in Bitcoin or maybe I'm looking at it from a different perspective. Maybe, the OP meant that since they've used Bitcoin, their perspective on things like privacy etc has changed.

I mean, Bitcoin has certainly helped me form my views of today on third parties, privacy, and security, which I might have not been as passionate about if I didn't discover it when I did. So, I guess you could say without significantly changing my life style, it has changed my life for the better. I can go to bed easy, not having to worry about what third parties are doing with my money either, or getting rejected for a payment because it got flagged up, and then going through the painful process of verifying everything before making the payment again.

Well, it would be very unrealistic to think that everyone would make it out with a win. They don't really even need to 'experience' a cycle, then can simply check the charts and see what happened in the past. Along with that, the typical investing dos and don'ts. They do all those simple things right and there's a good chance they'll win in the end.

The issue is that many people are in bitcoin for maybe a year and never really even saw one full cycle. Also many think that the cycles are the same, but actually each cycle is way higher on the chart than the one before, even if the cycles are a little bit the same anytime.

Tell that to the people who bought bitcoin even at cycle peaks pre-2017. Not sure if they necessarily got rich because it will completely depend on how much capital you allocated, but I'm pretty sure a of them are doing well if they just held.

Probably, but generally you have to be significantly invested in to see any meaningful return, at least in the terms of "rich".

I kind of agree, and disagree here. I'm not sure if it's the entire future, likely there will always be other currencies floating around, especially now the world has been introduced to cryptocurrencies. I don't know if it's the future for the majority of people, but I know it's the future for me. Unless something crazy goes on, where another altcoin comes out, and massively outclasses Bitcoin, since the popularity of Bitcoin right now, means it'll have some resistance to certain altcoins which marginally improve on it.

Hmm, probably not. As with everything, the rich will hoard a lot of the Bitcoin, and the poor will be late to the party. Obviously, Bitcoin can increase denominations to make Bitcoin worth using, but the rich elite will always remain the rich elite. Bitcoin does provide a path that isn't typically available to people though, which means they might find some success they otherwise wouldn't. The Blockchain definitely has its uses, and it might make things more comfortable in terms of transparency, but I still don't think it'll save the world as you put it.

Myself, and others have always said this is the biggest obstacle Bitcoin has. The complexity means that not everyone is going to understand or be comfortable with using it, even if they like the sound of the freedom it provides.

Goes without saying. Anything good in this world, will be replicated a million times. Doesn't mean it's any better though. As we've seen over the years many have tried to become the next Bitcoin, but Bitcoin had everything in place, and basically was implemented at the right time to assure its success. It doesn't have gimmick features, it has features that were carefully thought out, and even though it might have not been implemented perfectly, it has been improved on since.

Bitcoin investors can never get rich if they invest long-term. Because the price of Bitcoin keeps going up and down all the time. That is why it cannot be said that one can become rich only by investing. Because if you invest then of course profit or loss can happen here.

The days of complete Holding is long gone now , why need to keep Hold for 5-10 years when you can double the amount for a certain years of Buying and selling from High and low.

with this I think I must agree.

Mind to explain and bring us some hints on how this can save the world?
well , Internet world and that is all it is , learn your field and never become greedy.
they may clone but wont be completely , because the uniqueness of bitcoin is far from being cloned .

I think point number 4 might seem true at this time but this will change eventually. While Bitcoin is complicated the normal banking system is also complicated. We just don't see it as complicated, since we are teached from a very young age how it works. IF it will be the same for bitcoin it is not that much harder to understand. Also there are a lot of improvements that make it easier as time passes.

Bitcoin is not easy to understand, but you do not have to understand everything about bitcoin, there are some technical aspects of bitcoin and the blockchain used that is very difficult to understand by bitcoin users which are for developers to understand, not users. To buy and sell bitcoin by transferring it from one wallet to another is not hard, reputable wallets used today will give you just the basic warning like the reason to keep your seed phrase safe and not let anyone knows about your seed phrase, because anyone that knows your seed phrase is able to spend your coins.

In my personal opinion, the truth that I get from bitcoin one of which is that we are given the freedom to transact and do not need a third party to transact, the other truth is that bitcoin can be sent anywhere in seconds, bitcoin never promises wealth but at least bitcoin can make our lives better and we are a little bit ahead in this digital age.

I am a bitcoin holder and will always be but I don't understand on your opinion and the logic behind how it can save the world. If you can add some reasons why you think is that, maybe that's justifiable.

But if it's all about saving people financially then it only means that it can really make people be wealthy which will categorize to the number 1 you've said.

That is only if it's the meaning of saving the world, financially.

Again and again, another misconception about Bitcoin is.

Bitcoin isn't a charity and promise anyone to become rich, there's no such airdrop or giving free money for poor people.

Bitcoin is a computer program and not everyone understand about it, it's make sense how it's difficult to understand

Everyone already know Bitcoin has been accepted on El Salvador as legal tender, but a future currency? we don't know as government will launch their own CBDC.

Not all points can be true depending with your opinion, exactly with this points

I think not all holder although two until seven years later will get much money by holding bitcoin, just depending right time and the right place when investing in bitcoin. I can give you proof about some investor buy bitcoin when price still on $60,000 and one year later bitcoin price drop right now under $24,000. Can you count with how much money losing with bitcoin investment after choosing wrong time for investing? No doubt with many people become rich person in bitcoin but they have been right time when investing with bitcoin, price still drop and they have strong hand keep hold bitcoin and right now with their patience have reach goal and take much profit from bitcoin investment.

If anything, those are some of the most common opinions concerning Bitcoin.

Not really sure about this one though:


Bitcoin can "save" people in some cases financially, but people really like to totally overstate Bitcoin's importance as if it cures cancer or whatever.

It's not that hard to learn the fundamentals of bitcoin, many people have access to internet now so it only depends if you are really interested to learn it. Like myself, no one thought me about bitcoin way back 2016 but since I learned that it has many uses that can help our financial system, I always keep updated to the current trend in the crypto space.

The reason why there is too much disinformation about bitcoin is because of its continuous rising value over the years. Scammers take advantage of that telling people that it is a get-rich quick scheme.

This is what Bitcoin holders including me are believing that's why many of us are holding Bitcoins and base on history, it seems that it's true. Just look at the charts.

I disagree with this. Bitcoin will not be a medium of exchange but it might be considered as an alternative mode of payment. I don't think that a currency that is scarce and has a limited amount can become a medium of exchange because let's face it, not all people in the world will have access to Bitcoin or any cryptocurrency in general.

Save the world from?
Alien invasion? Global Recession? Financial crisis? Armageddon? End of the world? I mean elaborate this furthermore .

It depends on the person. I myself just learned the most basic parts of Bitcoin and I'm happy with it. I don't want things to be complicated for me that's why I'm just focusing on the basic parts and not on the complex side of it like the technical aspect, programming language, coding etc. but of course you will have an advantage if you know the most complex part of it.

In terms of misinformation, that's why many people are falling into scams because these people are teaching the newbies the wrong way. That's why I focused more on watching documentaries instead of going to seminars or events and in fact, I didn't attend any seminars whatsoever and I will not. Documentaries in youtube and the information here in the forum is enough for me.

The 4th truth denies the 3rd truth, and that is the truth. Bitcoin only helps in certain aspects such as saving from 3rd party fees, saving personal data, and supporting cross-border transactions without being bureaucratic.

If you mean "Bitcoin saves the world" revenue-wise, that's just part of what people believe is wrong in my perspective. Like fiat, bitcoin can't help anyone who is passive. In addition, volatility has two equally sharp blades. If it doesn't save you, it will kill you.

I don't agree with this. It doesn't mean you hold for the long term, it will make you rich immediately because it will also matter with the size you hold, let's say you bought and hold for the long term but the question is, "Is that enough?"

Hahahaha. Maybe the OP is just really straightforward which they don't specify really is. Or just a wrong choice of words.
It would be much better if OP said that it can solve problems about finances, like solving traditional banking or some remittances.

Only if they use own money to buy Bitcoin and hold it for long term. If they borrow money to buy Bitcoin, they can not hold it for too long as consequence of repayment call.

Please don't restrict Bitcoin to only one or a few use cases. It has more use cases.

Please stop saying this, it is not true! It is sort of propaganda from Bitcoin maximalist but it does not make Bitcoin becomes better than it should be.

Perfectionalizing anything is not good!

In reality, in future, there will be times when people don't actually understand Bitcoin but still can use it for their own interests. Like now, we don't have to understand technical things behind the Internet to use it, daily.

Don't hold on too much hope in this one, don't invest in uncertainty even if there's a pattern, put some money in bitcoin just in case though since we won't know what can really happen.
Same old but it's the truth, I guess we just have to say it until everyone accepts it
I don't see how it can save the world because bitcoin isn't a panacea that can cure all the problems that the society faces, can bitcoin solve wars? How about pollution? Habitat destruction? Sea levels rising? I don't think so.
This I can agree but we always have to remember that if something is unknown or new to someone they tend to get scared and they're prone to misinformation or misunderstanding, we can always educate them to change their minds or broaden their perspective.

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.