Topic: Bitcoin doesn't have a bright future anymore - page 4. (Read 784 times)

Are you drunk or what? Bitcoin is still having a chance to grow even more. Gold digital must have the same marketcap like the real gold which was about 8 trillion. It means bitcoin needs to go up to the 8x from the current price. Just because you're pro with ethereum and then you said that there are no competitors to the ethereum. I think that you must also see the reality again. Ethereum can do nothing when the bearish trend happened with bitcoin. that proves that bitcoin is the king. whatever you said that bitcoin is still the king and no doubt.
King of crypto is bitcoin and ethereum can't leave from bitcoin domination. 

Then if you think bitcoin has the potential to do that then why did you created a thread with such a title? The future of bitcoin is as bright as it can be, can you earn as much money as the early adopters did? Of course not, but you are not taking the risks they did.

Back then no one was sure if something like bitcoin had any chance at all to reach the levels of adoption we are seeing, people speculated this was a possibility and obviously they believed so and invested in it, but there have been in the past many great inventions that were never adopted and were eventually lost, so no one really know if this would happen, so while the profits are smaller the risk is smaller too, and that is invaluable for those looking to invest and hold their bitcoin for long periods of time.

Who says who?
Isn't it impressive when bitcoin reached $69k for its peak when the last ATH of it a few years ago was just $20k? It's not about how many times it had moved up.
But if you recognize that the price of it is quite high then moving up higher is what many are worrying about. But, last year, bitcoin just broke that worry.

Everything about Bitcoin's future is still unknown. We are not really sure what gonna happen years from now but despite this thing, we think that we can make a better future from here, by investing in Bitcoin. Actually, this had boost the life of Bitcoin. And as long as we trusted and continue investing in Bitcoin, that certainly brings more life into it.
Those who hate Bitcoin will certainly think negatively and never heard from them saying that it has a brighter future, it is definitely the opposite of this.

Since we are experiencing the bull season, it is quite normal for BTC to think like this. Currently, BTC has shown a nice rise. After the 2017 bull, 1 BTC fell as low as $2.8k. But in the immediate bull, it saw $60 k levels. It is obvious that for every rise there will be a fall. When those declines start again, I think you should reconsider this topic you opened. Because there are many rhetoric such as BTC is sinking no more, it does not make money. But behind these statements, people are always wrong.

I was able to earn big the last time I invest with bitcoin since I bought during the dump price and sell recently, I guess perfect timing can bring you more profit especially with Bitcoin. There’s a lot of alternatives but still many wants to have Bitcoin on their wallet because this has been the basis of the market trend and altcoins still follow the trend of Bitcoin so for me, this is still the future.

No you have shared incorrect details as i remember Bitcoin dropped to around $3200 in the month of December 2018 and the new ATH which we had 3 months ago is around $69k which is an increase of 23X compared to last four years all time low value. Regardless of altcoins Bitcoin remains first preference when it comes to crypto investment as its safe and does retains its value even after massive dump like we witnessed in last 4 years. Ethereum is indeed a good invetsment choice as it is yet to reach its full potential.

That's probably OP's point, and I've also said it myself in the past too. I'm guessing that the moment of this thread is that it's deterring the average investor from entering the scene, because gains are pretty much limited. Supposing someone that bought 0.20 BTC, at $50.000 ($10.000 in value), selling at $60.000 would result in a profit of $2.000, which isn't bad, but there might be better choices in terms of ROI, such as Ethereum. On the other hand, I would have peace of mind with Bitcoin, which I always thought it was the safest option.

ok some things to explain
at the most efficient mining GPU it costs $340 electric and $1743 hardware(2 year ROI) to mine 1 ethereum
($2083 baseline value/cost) meaning some lucky miners are making 41% profit right now

with the impending ethereum 'difficulty bomb' set for june 2022. ethereum can go 2 ways

---

a) people continue mining ethereum1.0(PoW) but using antminer e9 asics which are 32x hashrate of a typical GPU but at a combined 2x power consumption of said 32 GPU's(=16x power efficiency)
however there are just not going to be enough E9 asics to replace the inefficiency of GPU mining, certainly not intime enough to keep the eth1.0 maintaining blocks in june.
eth1.0 uses atleast ~9m GPU right now and there would need to be ~285,000 asics just to meet the GPU rate. where cost =2x
and then after 6 months(christmas) of bomb activation(june), there would need to be nearly 500x that
sorry but there just is not going to be enough asics (142million asics) to achieve keeping eth1.0 maintaining blocks by christmas
.. i must just add.. eth1.0 uses 9mGPU at the moment at a 14TWH/y electric consumption.
increasing that by 1000x(2x*500x) is just not even achievable in a 6 month period even on an electric availability scale
EG bitcoin is only 3.35x of eth1 electric consumption right now and would become 300x bitcoins power consumption by christmas

(ethereum users utopian dream is eth1, price per base value eth would 1000x to compensate. but that then means everything price related like gas also 1000x, no one wants to pay $2m minimum for 1 eth and 1000x($5k) fee(current gas price $5) )

in short.. it just isnt going to happen. and that is kind of the point of the 'difficulty bomb' to make eth1 dead/useless/too costly to maintain, and to expensive to use

---

b) people switch to treating an ethereum fork(2.0) as the 'default' ethereum. but thats PoS

with PoS there is no big cost of mining. yea things are 'staked' but it loses them NOTHING(special hardware/excessive electric) for making a good block, following the rules.
yea some may say instead of it costing $2k of PoW mining costs at the moment,
in a fair world where each staker had the same amount of coin staked so each had equal oppertunity. the best case cost
each person would get 1block(2.2eth) ONCE every 54,000 blocks if there were 54,000 'stakers'

271 blocks an hour=~200 hours for each person to get a block of 2.2eth
their electric cost of 100w an hour normal pc. at 0.12/kwh(us residential electric price)= 0.012/h= $2.40 pc use for staking for 200 hours for 2.2eth. meaning $1.09 per eth

obviously PoS is cheaper to mine than PoW by a factor of 2000x
but here is the thing.
if people could mine a coin for $1.09.. why would they buy a coin for ~$3000
most would mine for $1.09 arbitrary cost of just having a pc on watching, and sell for $1.50 for a $40% profit
no one would want to continue buying eth for $3000.

so expect a LARGE price correction down to $1.50 per eth if 7% of the network staked or $21.50 if everyone on the network staked

If this doesn't have bright future, surely this technology would've been defeated by the centralized system long ago. The technology is very young compared to the centralized system. In short time period what it has achieved in terms of adoption and growth is really big. As a result this has been making a big change in the world. Countries were facing hard inflation out of the traditional fiat, some have used cryptocurrency as a tool to get out of inflation. Maybe after years we can see more countries doing the same seeing the success rates of the countries that have adopted bitcoin.

Those altcoins mentioned were also potential ones, but with that it isn't a possible to defeat bitcoin. Even some other countries can adopt ethereum or other cryptocurrency, anything could happen. Only time can give the answer.

Many people do not like the existence of bitcoin and other cryptocurency. I wouldn't be surprised to hear the statements of those who disagree tend to give an ugly look at crypto. Maybe some do not like it may also be partly a business strategy to make a profit. As long as the consensus remains in the hands of the community, the future of bitcoin will be better and I believe that. Crypto is the future and all this is predicted, there may be new technology but maybe Bitcoin for a period of 20-30 years will still continue to be used. 

What op's referring to is probably that the multiplier is decreasing. In 2017, Bitcoin went from $4k to $20k during the bull run, which is a 5x increase. But the most recent bull run didn't sent the price to $100k. And, needless to say, the multiplier was way bigger in the early days. This is all true, but it doesn't mean that Bitcoin doesn't have a future (a 2x profit is still good profit, and Bitcoin's future is also not necessarily only in being an investment). I agree Ethereum's a good coin, but its days of glorious multipliers are also behind, and I don't think it's too different from Bitcoin in this regard. As for less popular coins, it's always a huge risk to buy them and hope they'll rise.

I can't say I'm overly concerned if Bitcoin isn't the go-to choice for everyone who thinks crypto is some sort of get-rich-quick scheme. 

It isn't. 

And even if it was, you're all weak hands anyway.     

^
Thats it, as posted previously Bitcoin has no competitor, EVERY other $hitcoin has
numerous competitors with almost every supporter willing to jump ship to anything
which promises fast returns.

I dont trouble myself with anything other than Bitcoin.


Thats massively under estimated

Everyone just like you had their different opinions about BTC, ETH or any other cryptocurrency and we respect that. But don’t expect that your statement alone can change the mindset of everyone here in this forum.

The truth is that we don’t know what would the price of Bitcoin will be tomorrow, next week, month, year or so. It’s unpredictable. Anything could happen in an instant without warning, whether going up or down. The price of BTC was heavily influenced by the media whether if it’s bullish or bearish.

Same thing goes to the other altcoins. There’s no guarantee if they will achieve 2x, 5x, 10x, etc. Take note that cryptocurrencies has no astronomical guaranteed returns. 

There is enough crap in the world at this moment. No need for more negativity. I'm positive regarding BTC and I think it will have a bright future. Keep HODLing and let's go to the Moon! We only need patience and a positive mindset.

No one can predict with certainty the potential that each crypto will receive, especially if it has been determined 5x and so on.  The huge profit potential from BTC is indeed not the same when compared to newly launched coins, but the risks involved are definitely much greater in crypto than BTC.  The dominance of BTC is undeniable, whatever movement in the market refers to the movement of BTC, even if ETH is the second largest domination of the market, it cannot be balanced with ETH.

How could you be so sure that ETH has the potential of doing another 5X? ETH went quite high during the last pump also. If you think BTC has reached its potential, then ETH also did. It makes sense to invest in the small caps if you are after big gains but there are lots of them and choosing one is like throwing a dice. You mentioned BNB which is the 4th biggest coin. You think it can do another 5X?

You also need to do the math though, 2x or 3x is still a big amount, it's compounding so the multiplier gets small. We can't go much higher because this is going to shock the market, if you don't like bitcoin then probably you should sell your bitcoin and exchange it for Ethereum. Just don't regret it when bitcoin starts pumping again.

How can you predict all of these? Are you Nostradamus? But, sorry to disagree on all of your points.
First off it is not the end for btc but it is only the beginning because the bears have finally subsided.
Next eth, this can be start of the fall of eth since we know that there is no more eth 2.0, there is no way for the fees to return to normal.

Why would not you bet on metaverse if you think they are good? Do you believe that too good to be true means scam? And I thought no need for eth competitors but why would you like bnb when its also an eth competitor? About tera and luna, I think I can agree to that, that its a good project because I can also see it.