Bitcoin doesn't have a bright future anymore

Mpamaegbu

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Quote from: mk4 on February 11, 2022, 12:38:05 PM

And to add to that, Ethereum is supposedly going to move to PoS this year(assuming no delays), hence posing a significant risk.

And expectedly reduce supply too, right? I've listened to several traders tipping Ethereum to be the next big thing in crypto to even the point of overtaking Bitcoin. In one of Teeka Tiwari's videos (he's a crypto influencer on YouTube, in case you're wondering), he talked about Ethereum with so much passion of success waiting to explode and how the supply chain will be cut. He likens what will happen to Ethereum to what hasn't happened before and that would blow anyone off.

To be honest, at some point I personally harbour fear that Bitcoin will lose grip of market control. Come to think of it, Bitcoin has no smart contract that projects can build on. Isn't the major Bitcoin use that of payment which other cryptos too can do?

franky1

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Bitcoin is mother all crypto currencies. If you follow the flow bitcoin dominates the price of all other crypto currencies. U might see ETH price is $3k or $4K but BTC price for ETH didnt cross .0.08 BTC but in the last bull run it crossed .01 BTC so price is purely determined by bitcoin only!! Yep ETH has more use cases but that doesnt mean it can overtake bitcoin and BNB is still a baby

if eth is maxing out at 0.08 .. then after the "difficulty bomb" detonation in july 2022 it changes to PoS. it will correct down to 0.00004
because PoS is going to go 2000x less than its PoW equivalent

btc_angela

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The presence of stable coins makes bitcoin's position decrease, this makes many people prefer to invest in altcoins so I'm sure that bitcoin will slowly shift and eventually will be replaced by better coins such as ETH or BNB.

Lol, I don't know where you get this idea, stable coin is not a threat to bitcoin whatsoever. I will not question that there could be individuals who prefer alt coins, no question about that, but saying that stable coins has a dent on bitcoin price is totally wrong. You need to get your facts straight, just saying.

wxa7115

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Many people are pessimistic about cryptocurrencies including bitcoin, I often hear discussions in financial groups and business TV that cryptocurrencies are full of speculation and this will not last long, in fact bitcoin and cryptocurrencies continue to shine and become the most promising investments even when the pandemic lasts for more than 2 years.

Do not listen to people like that, they either do not know what they are talking about or they are paid to not understand bitcoin and keep trying to push fiat currencies to their population.

After all look at what is happening right now, inflation is up all over the world and even if governments tried to blame supply issues we know this is not true, the inflation is high because they printed a lot of money and now the average person is suffering because of their policies, while bitcoin benefited enormously because of it, as it is impossible to do something like that and inflate the supply of bitcoin.

jostorres

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Quote from: noormcs5 on February 15, 2022, 12:01:37 AM

Ethereum may have this potential but it will not be possible because there are many investors who solely wants to invest in bitcoins. Only bitcoin has a true limited supply and 100% decentralzied. If you clsoely examine bitcoins with other altcoins, who will feel the difference and if crypto market gets more adopted, bitcoin will be a major part of it.

Ethereum is a really good cryptocurrency, there is no doubt about that. And the fact that it didn’t just come as a currency that is meant for transaction, but came as the blockchain itself and making the currency to power the blockchain is something that makes it unique. Over the years there has been so many other cryptocurrencies that has been released as a way to beat ETH which is the first smart contract blockchain.

But so far, with the way things are going, one can easily say that ETH will continue to emerge on top. If you look at other competitors, they are nowhere near to defeating Ethereum. It is only a matter of time, because withthe next version of Ethereum, we’re about to see it reach another higher level in the market.

pealr12

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Why @op ignore solana, polygon, polkadot, avalanch who have not fully developed yet and still has a lot to offer the crypto community,
Even though eth 2.0 is not coming I don't think any project will still be an eth killer, it seems the gas fees is not a problem for some devs and users, I can understand your argument on btc, it will be hard for small investors especially to make something meaningful, the only way is to invest in good alternatives.

Benefactor

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I don't think BTC brings anything to the table any longer other than a store of significant worth, yet that is as yet a wise speculation. There is contrast between ROI for your speculation with Bitcoin and Bitcoin future. We can't go a lot higher on the grounds that this will stun the market, on the off chance that you don't like bitcoin then presumably you should sell your bitcoin and trade it for Ethereum.

Kelvinid

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Quote from: asus09 on February 18, 2022, 03:21:18 AM

Actually the performance of ethereum is very dependent on bitcoin, if you say bitcoin does not have a bright future, maybe other coins will have the same fate as bitcoin, but why do you just say bitcoin does not have a bright future, when you have it. your own reason that the future of bitcoin is not bright, but at least bitcoin has accompanied me for more than 11 years, it all started with bitcoin, if there is no bitcoin most likely other coins will never appear..

Some people don't appreciate how Bitcoin does to them while they give it to others, I haven't wondered why OP talks like that.
Anyway, they are just a few of them while many of us had made the right choice. They'll say there is no bright future from Bitcoin but not knowing it is most likely those coins that they have choosen. In fact, with the existence of Bitcoin for more than a decade and seeing upon its performance, that was clear enough to see that Bitcoin does great over the others and still remains to dominate the market.

passwordnow

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Quote from: pawanjain on February 18, 2022, 12:50:59 AM

More stable in terms of risk but not in price. The volatility is still so fresh for bitcoin but still it has proven to be a safe haven for many.
The best strategy to invest in bitcoin is to buy and forget about it for some years. It has outperformed many other assets both physical and digital.
Criticism towards bitcoin can never stop and there will always be people think less about bitcoin and regretting at a later point of time of how they missed the chance.

It's like a safe haven if someone's going to enter the crypto market without any knowledge. These investors have to come to that point that they should know what bitcoin is and they'll also say to the newbies that it's the best crypto, to begin with even if they have zero knowledge about the market.
Like from the people in the past who has no idea of what they're doing and yet they've bought and held bitcoin for a long time, they're now wealthy through that wise decision.

asus09

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Actually the performance of ethereum is very dependent on bitcoin, if you say bitcoin does not have a bright future, maybe other coins will have the same fate as bitcoin, but why do you just say bitcoin does not have a bright future, when you have it. your own reason that the future of bitcoin is not bright, but at least bitcoin has accompanied me for more than 11 years, it all started with bitcoin, if there is no bitcoin most likely other coins will never appear..

pawanjain

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Quote from: passwordnow on February 17, 2022, 05:48:28 PM

Quote from: pawanjain on February 17, 2022, 11:08:25 AM

I still wonder why people think bitcoin doesn't have a bright future and can't generate enough profits.

Because of the common reasons like, they haven't bought the dip. They miss the run, they have sold it for an altcoin that goes negatively.

Quote from: pawanjain on February 17, 2022, 11:08:25 AM

Not even 20% of the world population is into bitcoin yet and we can only imagine the price if bitcoin reaches that threshold.
Although altcoins have a brighter chances of giving bigger returns bitcoin still provides a safer chance of getting decent returns.

True, there's more safety if you're wanting an asset to grow in the long term. Investing in bitcoin needs patience and maybe these people have lost that and eventually have to sell their bitcoin for some reasons. And for the altcoins, it's true that they can give more profit depending on the development of it. But being wise and with proof, bitcoin is also doing the same but unlike with those alts, it's more stable.

More stable in terms of risk but not in price. The volatility is still so fresh for bitcoin but still it has proven to be a safe haven for many.
The best strategy to invest in bitcoin is to buy and forget about it for some years. It has outperformed many other assets both physical and digital.
Criticism towards bitcoin can never stop and there will always be people think less about bitcoin and regretting at a later point of time of how they missed the chance.

QueenVera

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Quote from: rby on February 17, 2022, 11:00:21 AM

The future of other coins is determined by the future of bitcoin. If there is a problem with bitcoin there will be problem with other coins. We cannot because we don't see x2 or x3 in bitcoin again and say that it does not have future. Remember that bitcoin will become scarce as the year come and people will keep demanding for it.

Bitcoin still has some fire left in it, there are speculation of a $1M price on years coming and we are not even closed to that. Bitcoin would be achieving $100k when the bull cycle resumes and if that is achieve that means we have about 10X more to get the $1M price. Do not be deceived Bitcoin leads altcoins follows.
Bitcoin still has 2x,3x and more x returns to giave Investors. If you are holding you'll receive all this return of investment so keep holding.

evichi

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The original purpose of Bitcoin is for personal banking: Be your own bank. It is meant for people to have personal access to their money without the third party like the banks. Meanwhile as people started using Bitcoin, the value appreciates, hence, people now started looking at it as a means of making money as the value now grows over time.
Bitcoin is designed to be decentralized. Many crypto to fiat exchanges in the early years of crypto have Bitcoin as the main exchange into crypto, then, later Ethereum and others joined. Bitcoin have gained ground over the years, and will remain the backbone of crypto for many years to come. Bitcoin still have a great future.

Rengga Jati

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Quote from: Coyster on February 17, 2022, 07:45:06 AM

Quote from: dhru9 on February 11, 2022, 12:19:08 PM

Good coins are Eth, Terra luna,Bnb

Eth is definitely a good coin, I don't know about Terra Luna and Bnb,

EtH and BNB are also other most trusted cryptocurrencies besides Bitcoin. They have high potential and so far, we have seen their development that is very awesome, with their use cases of course.
But, it will also be back again to each person, some may feel that those altcoins are not really worth it because they have some doubts or even loss in the past.

Aside from that, the words of this may not be seen from one side only.

Quote from: dhru9 on February 11, 2022, 12:19:08 PM

All the gains with BTC were made already if we are looking for 4 years from now is only 2-3x .

It is not only about how many times of multiply a coin will be increased will determine the price and value of the coin itself. We can see with small multiple times of the coins, but they are highly increasing. The major thing is about value and Bitcoin is still the most valuable cryptocurrency, worthiest to hold for the short or long term.

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Quote from: mk4 on February 11, 2022, 12:22:42 PM

2x-3x is pretty much just $1.6 trillion - $2.4 trillion in marketcap. Do you really think that's the highest that bitcoin can go lol? Even gold alone is like $10 trillion in marketcap.

It's reasonable increase but then it's worth noting that altcoins especially those new ones will mostly outperform bitcoin in the short - mid term. Even if Bitcoin reaches gold's marketcap which is a lot (price should be above $400K),altcoins would still lead the way in terms of gains. Anyway, my point is that for anyone looking for short term gains, best bet is altcoins and for long term (invest and hodl) kinda approach, Bitcoin is the best option.

passwordnow

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Quote from: pawanjain on February 17, 2022, 11:08:25 AM

I still wonder why people think bitcoin doesn't have a bright future and can't generate enough profits.

Because of the common reasons like, they haven't bought the dip. They miss the run, they have sold it for an altcoin that goes negatively.

Quote from: pawanjain on February 17, 2022, 11:08:25 AM

Not even 20% of the world population is into bitcoin yet and we can only imagine the price if bitcoin reaches that threshold.
Although altcoins have a brighter chances of giving bigger returns bitcoin still provides a safer chance of getting decent returns.

True, there's more safety if you're wanting an asset to grow in the long term. Investing in bitcoin needs patience and maybe these people have lost that and eventually have to sell their bitcoin for some reasons. And for the altcoins, it's true that they can give more profit depending on the development of it. But being wise and with proof, bitcoin is also doing the same but unlike with those alts, it's more stable.

pawanjain

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I still wonder why people think bitcoin doesn't have a bright future and can't generate enough profits.
Not even 20% of the world population is into bitcoin yet and we can only imagine the price if bitcoin reaches that threshold.
Although altcoins have a brighter chances of giving bigger returns bitcoin still provides a safer chance of getting decent returns.

macson

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Quote from: dhru9 on February 11, 2022, 12:19:08 PM

snip

i know you don't really like bitcoin but the three altcoins you mentioned are still not worth it if we compare them with bitcoin. the profit you make with Bitcoin does look small when compared to eth but in terms of usability, Bitcoin is far dominant. the three altcoins you mentioned, at any time, can be subject to sanctions from the government but Bitcoin will not, there are no Altcoins that are able to offset Bitcoin.

bonyaserg

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In my opinion, bitcoin is just beginning to discover its potential. And all the charm of the possibilities of bitcoin is still ahead of us when the price is more than 100,000 thousand dollars. And also all current coins will also grow in price. We just have to wait and watch in order to profit from the sale of our crypto coins.

rby

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Quote from: QueenVera on February 16, 2022, 03:11:25 PM

Quote from: mk4 on February 11, 2022, 12:22:42 PM

2x-3x is pretty much just $1.6 trillion - $2.4 trillion in marketcap. Do you really think that's the highest that bitcoin can go lol? Even gold alone is like $10 trillion in marketcap.

Thread creator is forgetting that if bitcoin does not have a bright futures, none of the coins pointed out will have their gains. The only reason this coins raise in price is because Bitcoin raises then people look to make gains else where then pump the price of this project when many should not be worth what they are currently worth. What is built on Binance Smartchain for it to be worth $430 or what is built on others?.
Ethereum is the only project that can boldly say it has contributed to the growth of the market for it to be worth what it is currently trading out, the rest are just hyped especially what is happening with Solana.

The future of other coins is determined by the future of bitcoin. If there is a problem with bitcoin there will be problem with other coins. We cannot because we don't see x2 or x3 in bitcoin again and say that it does not have future. Remember that bitcoin will become scarce as the year come and people will keep demanding for it.

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