Am I too late to Bitcoin? | Bitcointalksearch.org

Coinsfera

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Quote from: Husires on March 07, 2021, 09:28:11 AM

I read this beautiful article about Am I too late to Bitcoin? it is a bit long, I will try to quote parts of it from time to time and we can discuss ideas with it below.

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According to data analyst Willy Wu, there are an estimated 135 million Bitcoin users worldwide. This is less than 2% of the global population. To put that into perspective, PayPal has 361 million user accounts, Facebook has 2.8 billion monthly active users, and the internet in total has an estimated 4.7 billion users.

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Thirty years ago almost no one was on the internet. Twenty years ago only 6% of the world used the internet. Ten years ago a third of the world was online, and today that number has nearly doubled to just under two thirds.

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“Its too slow, no one is using it, its too confusing.” – Internet critics, 1997
“Its too slow, no one is using it, its too confusing.” – Bitcoin critics, 2021

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With central banks suppressing interest rates and pumping out more currency than ever before, holding cash has become a losing strategy. This is why many people since the 70’s have been saving their wealth in gold, and why today many companies (MSTR, SQ, TSLA) are deciding to adopt Bitcoin as a treasury reserve asset. When you hold a fiat currency like USD or EUR, you put your faith in central banks and government not to debase the currency. Oh, by the way debasing the currency is literally part of the stated mandates of the Fed and European Central Bank

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How many dollars are in circulation? How many euros? Nobody knows exactly. But what we do know is that the total supply is increasing faster than ever before. Bitcoin, on the other hand, has a fixed total supply. Only 21 million coins will ever exist, meaning bitcoin has a 0% terminal inflation rate

Bitcoin has a long way to go. Those who thinks that they are late to the parade then they are wrong. It is just ~10 years that Bitcoin is created. Bitcoin will gain power as the people believe in it because we create value in our minds. If we think Bitcoin is a valid payment method then it is valid, if we think it is a great option to store a value then it is the store of value. It may be consuming for many but there are many sources that they can learn and trust in bitcoin. People learned the internet by using it, it is the same for Bitcoin too. People should understand bitcoin while using it. There is no other way to understand Bitcoin.

Negotiation

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Although bitcoin is a very safe currency to invest in there is little risk in investing as its value is much higher if the price goes down too much now you will fall into risk that's why there are so many altcoins that have a lot of potential to increase in value. That's why you can hold on by investing in altcoin like ethereum.

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Quote from: vaultman on March 09, 2021, 08:11:42 PM

I think it's worth taking a closer look at altcoins and not getting hung up on bitcoin alone, especially if the amount of money to invest is less than the cost of one bitcoin. Bitcoin will grow gradually, that is, for months you will have to wait for its price to double, while alternative cryptocurrencies can grow in price dozens of times per week, especially since there are now a large number of promising projects.

indeed, if we look at bitcoin today, of course there is a sense of regret, but indeed by investing in a potential altcoin, we can still get a big chance of profit, but we have to be more careful to identify it, because bitcoin is indeed the safest coin to invest in.

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Quote from: aioc on March 09, 2021, 11:28:24 PM

don't be deceived by the current price when you first stumble at Bitcoin, this is a newbie reaction especially if you found out that Bitcoin started in a few cents, it's not when people started it's how they are now, I have seen a lot of people who stumble Bitcoin way back 2013 but they are what you might call knowledgeable on the market and they have a lot of hesitancy investing and they easily sell their portfolio.

Dont get me wrong but someone seeing an asset priced as high as 50k USD - would that person coming from a middle class family earning as backing be willing to buy that? Provided that asset does not have any use in their country and the government there is giving notices that they are going to prohibit people from dealing in it?

Unless government's stance of many countries dont change I dont see this "I am late for bitcoin" statement going away.

Many freedom of speech groups have voiced on such topics but few have actually been able to make any change. People will not buy an asset that could mean a loss of their money - would they? In that sense they will always be late for that asset when it goes up and beyond their reach.

aioc

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don't be deceived by the current price when you first stumble at Bitcoin, this is a newbie reaction especially if you found out that Bitcoin started in a few cents, it's not when people started it's how they are now, I have seen a lot of people who stumble Bitcoin way back 2013 but they are what you might call knowledgeable on the market and they have a lot of hesitancy investing and they easily sell their portfolio.

vaultman

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I think it's worth taking a closer look at altcoins and not getting hung up on bitcoin alone, especially if the amount of money to invest is less than the cost of one bitcoin. Bitcoin will grow gradually, that is, for months you will have to wait for its price to double, while alternative cryptocurrencies can grow in price dozens of times per week, especially since there are now a large number of promising projects.

Mahanton

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Quote from: Amejoaquim on March 09, 2021, 06:56:42 PM

I don't think so because i've been thinking like you since 2017-2018 period.

When the Bitcoin price hit $20k for the first time i think i already too late to join the party.

But lucky ME, i've bought bitcoin when the price drop in 2018 (Under $10k) and still holding my BTC untill right now.

Investing on crypto is somewhat do mixed up with some part of luck because we don't know on how far it would possibly go in terms of potential price
For those people who did even just enter the market last March 2020 and able to buy on that particular time did really make out some serious profits if they do still end up on holding up their coins up to now.
This do indicates that being late on this market isn't really that right at all to have that in mind.Opportunities on earning profit or money is still there if you do really know on how to deal with it.
Don't consider yourself to be late with bitcoin investment because we aren't still on full adoption scale yet.

Amejoaquim

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I don't think so because i've been thinking like you since 2017-2018 period.

When the Bitcoin price hit $20k for the first time i think i already too late to join the party.

But lucky ME, i've bought bitcoin when the price drop in 2018 (Under $10k) and still holding my BTC untill right now.

Renampun

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Quote from: bryant.coleman on March 08, 2021, 07:04:41 AM

There may be a lot of people who own $10 or $20 worth of Bitcoin. But we can't really call them as Bitcoin investors. I would put the limit at $1,000. Anyone who owns more than $1,000 worth of Bitcoin can be considered as a Bitcoin investor. And I believe that the numbers may be really low. At the most, it can be 0.2% of the world's population (15 million), but a conservative estimate would be much lower.

do not really agree with you, in theory, investors are those who buy in small or large quantities...
Bitcoin investors are divided into Sections from big whales to crabs. those who have a small nominal amount of Bitcoin are still classified as Bitcoin investors.

wxa7115

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Quote from: iamsheikhadil on March 07, 2021, 09:49:05 AM

I guess history always repeats itself and we will see it for bitcoin and crypto just like we did for the internet and just like there were critics and people who opposed it and now they are seeing the shocking results, people after a decade or two will see similar fate for crypto. People will regret not getting into it now, and we already seeing it, like people regret not getting into it in 2016 or 2015. Then people who bought in 2017 thinking the ATH will never break and they will be in losses forever, they have profited very much if they have been holding

I still remember the days when critics of the Internet said that it was just a fad and soon enough people will forget about it, the result? Now it is impossible to imagine our lives without the Internet and being connected to it all the time.

And I think something similar could happen to bitcoin, it was not long ago when many people made fun of the people that were into bitcoin and now I am receiving all kind of questions about people that want to become part of it, so it is never too late, but people need to get in bitcoin now as each day that passes it is getting more expensive to form part of this market.

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Quote from: Husires on March 07, 2021, 09:28:11 AM

I read this beautiful article about Am I too late to Bitcoin? it is a bit long, I will try to quote parts of it from time to time and we can discuss ideas with it below.

Quote

“Its too slow, no one is using it, its too confusing.” – Internet critics, 1997
“Its too slow, no one is using it, its too confusing.” – Bitcoin critics, 2021

As a student at the time I have learned about Bitcoin and other Cryptocurrencies, it was a bit overwhelming for me and seeing some of my friends earn from it even though its just in small values. I realized that it is still money and if they can learn it in their own way, I can also do that in my own pace and it was really confusing for me but I took the risk to learn it by experiencing it first hand by joining multiple bounty campaigns. It was slow at that time and it was really confusing on how to use the exchange websites until I found one Exchange website that was truly user-friendly. It taught me how to do simple trading and from that point I did not even realize that I am knowledgeable within the Cryptocurrency Industry so I believe that there is no right time and late time to learn about Cryptocurrencies.

el kaka22

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You know which part is the most important part? The cash reserve parts, central banks are destroying the value of cash because they need to print more to keep the companies profiting, there is no world where one company keep profiting forever without anyone printing more cash, by logic if we stop printing cash and there is a finite amount of cash, that means one company can't keep growing forever, eventually they will own every single cash in the world and that makes no sense, and even if that happened, since there is no more cash printed, they can't have more than what's already available.

This shows the proof that companies need cash injections into the economy constantly to grow bigger and eventually they grew so much that now we do trillions just to keep them profiting and shareholders happy. All people in the world like microsoft, tesla and many others realized that this can't be sustainable so moved to Bitcoin, many others will follow and eventually bitcoin will become the cash reserve of the world.

supine

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I don't think that there is a late stage for bitcoin, because bit oin price is not stable. We cannot guarantee that the price will be fixed the value. So if you invest you are taking the risk whether it will go up or down.

wheelz1200

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Quote from: Husires on March 07, 2021, 09:28:11 AM

I read this beautiful article about Am I too late to Bitcoin? it is a bit long, I will try to quote parts of it from time to time and we can discuss ideas with it below.

Quote

According to data analyst Willy Wu, there are an estimated 135 million Bitcoin users worldwide. This is less than 2% of the global population. To put that into perspective, PayPal has 361 million user accounts, Facebook has 2.8 billion monthly active users, and the internet in total has an estimated 4.7 billion users.

Quote

Thirty years ago almost no one was on the internet. Twenty years ago only 6% of the world used the internet. Ten years ago a third of the world was online, and today that number has nearly doubled to just under two thirds.

Quote

“Its too slow, no one is using it, its too confusing.” – Internet critics, 1997
“Its too slow, no one is using it, its too confusing.” – Bitcoin critics, 2021

Quote

With central banks suppressing interest rates and pumping out more currency than ever before, holding cash has become a losing strategy. This is why many people since the 70’s have been saving their wealth in gold, and why today many companies (MSTR, SQ, TSLA) are deciding to adopt Bitcoin as a treasury reserve asset. When you hold a fiat currency like USD or EUR, you put your faith in central banks and government not to debase the currency. Oh, by the way debasing the currency is literally part of the stated mandates of the Fed and European Central Bank

Quote

How many dollars are in circulation? How many euros? Nobody knows exactly. But what we do know is that the total supply is increasing faster than ever before. Bitcoin, on the other hand, has a fixed total supply. Only 21 million coins will ever exist, meaning bitcoin has a 0% terminal inflation rate

There are a lot of good pieces. I would think less than 2% of the population is using it that might be over exaggerated. Is now a good time to get in, yeah I think anytime is. First time in a long time a new financial asset class has been made and its growing exponentially. Everyday more and more people are using it, learning about it, etc. Blockchain technology is permanently here to stay and the backbone of that (bitcoin) will do very well in terms of appreciation as the masses drove in.

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Quote from: bryant.coleman on March 08, 2021, 07:04:41 AM

There may be a lot of people who own $10 or $20 worth of Bitcoin. But we can't really call them as Bitcoin investors. I would put the limit at $1,000. Anyone who owns more than $1,000 worth of Bitcoin can be considered as a Bitcoin investor. And I believe that the numbers may be really low. At the most, it can be 0.2% of the world's population (15 million), but a conservative estimate would be much lower.

With such a value it can be said that it is not an investor, but if they can process it in trading, it can be increased if they have skills in trading other coins.
At least we can see that with a value of $ 1000 this is the lowest point for investment but it is no longer an obstacle for everyone to have such a value and I am sure what he has in this case understand how much to be prepared to be conservative.

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Quote from: Husires on March 07, 2021, 09:28:11 AM

I read this beautiful article about Am I too late to Bitcoin? it is a bit long, I will try to quote parts of it from time to time and we can discuss ideas with it below.

Quote

According to data analyst Willy Wu, there are an estimated 135 million Bitcoin users worldwide. This is less than 2% of the global population. To put that into perspective, PayPal has 361 million user accounts, Facebook has 2.8 billion monthly active users, and the internet in total has an estimated 4.7 billion users.

Quote

Thirty years ago almost no one was on the internet. Twenty years ago only 6% of the world used the internet. Ten years ago a third of the world was online, and today that number has nearly doubled to just under two thirds.

Quote

“Its too slow, no one is using it, its too confusing.” – Internet critics, 1997
“Its too slow, no one is using it, its too confusing.” – Bitcoin critics, 2021

Quote

With central banks suppressing interest rates and pumping out more currency than ever before, holding cash has become a losing strategy. This is why many people since the 70’s have been saving their wealth in gold, and why today many companies (MSTR, SQ, TSLA) are deciding to adopt Bitcoin as a treasury reserve asset. When you hold a fiat currency like USD or EUR, you put your faith in central banks and government not to debase the currency. Oh, by the way debasing the currency is literally part of the stated mandates of the Fed and European Central Bank

Quote

How many dollars are in circulation? How many euros? Nobody knows exactly. But what we do know is that the total supply is increasing faster than ever before. Bitcoin, on the other hand, has a fixed total supply. Only 21 million coins will ever exist, meaning bitcoin has a 0% terminal inflation rate

At $50,000 price of Bitcoin, it is still not that late to invest in Bitcoin because future prices will double of what we have today. We only need a piece of Bitcoin for a secured future. I know that one day billionaires like Elon Musk will acquire more and more Bitcoins to counter maybe escape from the inflation of the paper money.

bryant.coleman

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There may be a lot of people who own $10 or $20 worth of Bitcoin. But we can't really call them as Bitcoin investors. I would put the limit at $1,000. Anyone who owns more than $1,000 worth of Bitcoin can be considered as a Bitcoin investor. And I believe that the numbers may be really low. At the most, it can be 0.2% of the world's population (15 million), but a conservative estimate would be much lower.

Lucius

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Quote from: The Sceptical Chymist on March 07, 2021, 11:57:48 AM

Quote from: Lucius on March 07, 2021, 10:23:04 AM

If there is any truth that we now have as much as 2% of the total world population

That seems a little high but I wouldn't scoff at that number outright. As time has gone on, I've started to meet more and more people who've gotten into crypto. We're still a long way away from it being completely mainstream, however.

That number is certainly smaller, but it is impossible to determine exactly how many people actually own even the smallest part of BTC. There are always people who will never admit it in public, not even to their friends, which is of course very smart from a security point of view. Given that the price has gone up dramatically, I have no doubt that more and more owners will prefer to say they no longer own BTC.

And even if we have a real 2%, that is again a very small number if we take into account that almost 5 billion people have access to the Internet today - which means that we are very far from saying that a mass adaptation has taken place. In less than 10 years, 99% of BTC will be mined, but even before that period it will become increasingly difficult to buy BTC, because we need to know that large investors buy through OTC, and when they exhaust that market there is no doubt that they will have to buy where everyone else.

joniboini

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Quote from: Koro-Sensei on March 08, 2021, 01:48:37 AM

Now that bitcoin is in it's all time highs, I think its quite a gamble to enter bitcoin world now. However, as what Mark Cuban advice, the 10% rule is quite a good start up knowing that in the future this revolutionary technology would be accepted worldwide.

Well, any investment in potential tech/sector could be considered a gamble in a broader sense. IMO new users should not focus too much on financial gains, while that is indeed attractive, not knowing where the value of crypto and blockchain would limit their patience and knowledge. You need to believe in something if you want to invest without being plagued by anxiety, but from the looks of it, new folks are so impatient and asking for 10x gains daily.

In the end, OP, if you think Bitcoin is valuable, then just DCA. Buy it regularly within your risk appetite and wait for a few years. You might end up with massive gain or massive loss, that's why only invest what you can afford to lose.

justdimin

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Quote from: bL4nkcode on March 07, 2021, 12:22:46 PM

Bitcoin is still at the early stage, until bitcoin supply still not fully mined it's still not too late to jump in bitcoin train.

Yes, unless all the coins are mined or every country has adopted Bitcoins legally, that is the only saturation point I can think of for BTC. It is always a thought how much Bitcoin will reach before it becomes stable. I remember people thought they are late in Bitcoins when the price was 10k and now at 50k we are thinking the same, the actual value of BTC is much higher than both these prices though.

Quote from: wxxyrqa on March 07, 2021, 01:26:15 PM

According to the forecasts of many analysts, bitcoin over time will be able to reach even one million dollars without any problems, but this will take about 10 years. Based on this, we can say with confidence that if a person uses investments for the long term, then even today it is quite profitable.

Maybe because big investors are coming and the growth has rocketed quite fast, so maybe instead of 10 years it might be in the next 3-5 years. But for sure the real value of BTC is way higher than we might be expecting, big investors like MicroStrategy are investing more and more and that shows the price might be humongous in coming years.

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