Topic: bitcoin goes down, no new rich people anymore - page 21. (Read 3789 times)

if the Bitcoin price drops the development is definitely affected by the changes but the rich people save their Bitcoin into different kinds after getting success they will not put their investment fully in this Bitcoin only after getting the value developed they convert it into different currencies so they cannot worry for that.

Right.Chances are always there.It's up to you on how you will manage your investments so you will gain huge profits that will definitely make you rich in the future.Especially now that the market is very positive,we can still continue holding our coins and only sell them once a bull run appears before the year ends.

I still believe that bitcoin will continue to create rich people but not in a blink of an eye. Of course with hardworks and patience in bitcoin, it will surely pays off in the end. Even if bitcoin price is not that high anymore like what we have experienced at the end of 2017 but we can also say that today's market price is starting to recover and its now growing already.

alot - I would argue that effect happened because there were not alot of early adopters in comparison to the far greater exposure that BTC had later on.    It was an internet product that at first was confined to people intrested in non monetary standards of cipher code and encryption and long term progress via computer processing.   Decades ago I was interested in PGP and even wider use of it, sadly I was not optimistic to see this development and I lacked the thought and open imagination of potential usage.    Nowadays I dont think most of us appreciate the maths behind the product, we're moved onto well what can I do with my BTC

My big argument for BTC being a real world useful product is that it must progress from the elite pursuit within maths and lots of clever protocol formation; into a product that is as ubiquitous as a remote control.   I know alot of people are not especially keen on something special becoming ordinary but every amazing invention propagates in this way to a wider audience so its the task of those who want success in this sector to make sure anyone at all can use and be comfortable with BTC use.  

Forget this rich people talk, society can be richer with good products.   Thats what we want to aim for not personal profit, ironically capitalism is a better conduit to societal gain then cold slow government approach so I'm hoping we still get there on a long and winding path but a well founded one

Bitcoin has already created its share of rich people. During the 2013 bull run, a lot of the early adopters became filthy rich, as the exchange rates rose from $0.10 to $1,200. Now events such as this one occurs once in a blue moon, and we can't expect it to repeat again and again. My opinion is that even if you make an investment in BTC right now, you will be able to get good returns. But don't expect the sort of returns that we had back in 2013 and 2017.

He is just a FUDer who does not work with fact but will do everything possible to discourage other successful investors, but too late of him, because we work with real time statistics and not the FUD words coming out of his mouth that is baseless.

Does he check the market cap every day to see the amount of money that circulates with 2hrs? he need to also see how much of money enters the market on a daily basis, then he will realize that there are still people who are doing very fine in economy and rich enough to invest in BTC. We might not have seen very big jump in the value, which is usually effect of whales manipulation, the market of BTC is functioning as it should and that is all we need.

actually there is still a chance but it all depends on each person whether they are capable of being able to do research on the market today which is really true there is still a chance.

bitcoin is not tool to make us rich instantly.much people thinking if they buy and hold bitcoin they will be rich man after that.wrong perception now in people thinking about bitcoin.this is just as investment portofolio that will give us return .and if we could be rich man it just bonus for us.

Even if bitcoin will drop the price so much its that mean o new people rich about that. Actually whenever the bitcoin drop the price or not many rich people going to invest on it. It is normal on when the bitcoin drop the price and not all the time bitcoin are always increase the prices of it.

Look here, buddy.
Seems like you do not fully understand cryptocurrency at all. When bitcoin's price go down or dump, that doesn't mean that there is no chance of getting rich. There are two things that you may do when the price is decreased:

• Keep holding until you get back the capital and wait for the pump, or:
  
• Buy another bitcoin when the price is decreased to gain another profits when the bull run happens.

Bankruptcy is excluded in my vocabulary here in cryptocurrency.

Then who is to blame other than them, those investors who in their clear eyes invest in those stupid coins are the noobs and the greedy ones. Who the hell forced such huge amount of money out of their pocket? Who asked them not to pick among the reliable coins to invest in. Did you even see the coins you mentioned? Do they sound like they have a promising future? Common man, Have you seen anyone lost their investment in bitcoin aside people that panic sold?

If you say yes, what is your own definition of the losses, the fact that the value of the investment in bitcoin depreciated? Depreciation in value doesn’t mean over time, it will not appreciate back to get them their investment. Despite all the scam issues around, we still have people taking risk of investing in new projects when they could have picked from the already established good ones, so if anything happen now, we blame the crypto space for their misfortune.

This is relative and totally debatable, you have to take into account that there are traders who are or always operate in favor of the market direction and if you take into account that there are traders who decide to do their operations with very large leverages, it is possible to think that in a good position, you can become millionaires.

The case of Jesse Livermore, became a millionaire operating the market totally down, he only analyzed the market, determined that he was going down, and put a lot of money, the move was made and became a millionaire.

That is why many say that there are operators that are bears and others that are bulls, but taking into account that the good speculator only follows the line of least resistance, gains and if it has a sense accompanied by luck, it helps a lot if there is a lot of money in between.

People lost during downtrend and everybody knows that but don't mean people lost confident to trade or buy again bitcoin as the situations is getting better and better this year and actually how do identified rich people in crypto because all of people assets were almost anonymous and how do you know rich people are going to bankrupt because people usually hide their crypto assets and never publish to the public

We experience losses but as you know bitcoin price is volatile so when you observe these days the price it is gradually increasing. You are the one will suffered losing money and you cannot manage your investment in crypto. I can sense this year bitcoin price will be profitable for us and will be good for those who truly waits and believed.

Maybe you are one of those people that has a mind like a crab and as what they say it is called "crab mentality". He actually laugh when he knows a lot of people are having bankrupt because of suffering from losses. I dont think so,  bitcoin in market is already good and as a matter of fact it has a good value again and I think we can actually gain profit again this year.

He didnt say all but he only said many  .


 Thats true  . only weak handed and emotional people are selling their coins but that does not mean that they are poor or they will become poor after doing it  although some maybe especially if they put all their lifetime money on cryptos  . while other rich individuals wil continue to become more rich because they are patient enough to hodl  .

Are you saying all of us the traders has no rich people among us and we are all poor people?  I don't think so.  Bitcoin is in a bearish conditions an as such the weak hands will continue selling at the wrong time and the strong hands will keep expanding in riches through gain.

No losses from altcoins? I am tired of these noobs spreading stupidity in this forum. There are close to 10,000 different alts and tokens in existence right now. Out of that more than 90% are not being traded actively. They are effectively dead and those who had invested money in to them have lost their capital. Of the remaining 10%, the vast majority have suffered losses ranging from 80% to 99% during the past 1-2 years. I can give several examples, such as Deep Onion (-99%), BitSend (-98%) and Gbyte (-98%).

How can you say that? Majority of investors are into bitcoin, so it's pretty obvious they have lost a lot since the price went down hard, as much as 80% lost since it's last all time high. Yes, there could be people who also got rich with altcoins. but remember that almost all pairing do rely on bitcoin. So before they can see the price goes up again, they need to look at bitcoin ecosystem first.

but it will not be end for cryptocurrency and Bitcoin so we need to wait for sometimes to see the changes definitely from this situation there will be lots of chances available for a good development so no one will be worried about the current situation