Topic: bitcoin is most likely going to die, here is why... - page 3. (Read 2886 times)
I don't think bitcoin will die for a few years later because in bitcoin there is a technology that is awaited in the future where everyone can make transactions without fiat money like now who have made money transfers without having to meet other people
I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.
But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
Many people said bitcoin is bullshit, buble but bitcoin lives for years and continuously grow up
I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.
But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.
In my view, there are several problems:
1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".
2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.
3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.
other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.
I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.
You do have points on your argument but you cannot practically enclose all the conclusion by summing up that Bitcoin is most likely to die because although you have explained your reasonings well, just like us, you also do not have that capability and capacity to predict what will happen in the future because those problems you have stated are being worked on hand under maintenance and improvisation so that the present problems will be lessen to make it more accessible for future investors as well as ordinary users. Technology is not perfect that is why mankind is seeking for imperfections to provide improvisation to resolve the present problems. How can we move into innovations if we are already questioning the capability of the technology we have made just like Bitcoin as a cryptocurrency. Simple problems like those are normal and can be resolve without stating more negativities just like Bitcoin death.
Such threads exist as long as Bitcoin exists. So many times I had to read that Bitcoin is dying or will die soon and yet Bitcoin is still here and will definitely be here when I'm long gone. So far he has survived everything negative and is and remains probably very long the number one cryptocurrency. 
Are you sure bitcoin is going to die because of these reasons. Bitcoin is the most unique techology that has ever happened to the finanncial sector. Bitcoin for striving for 9 years , It wont die like other inventions.
Well though it is a bit weird but OP has some point. Just imagine some technology that are not being adapted by many as always it will be forgotten. There are many of this that has been left behind for it is not been useful it was just only a certain point that the technology was found to be good but later on found it was not that really useful. Besides, some of the governments are not accepting bitcoin instead some of them ban bitcoin and other cryptocurrency.
this year the price of bitcoin has indeed dropped to very low compared to the price of bitcoin late last year but i think this does not mean it will be the end of bitcoin or bitcoin will die but this is the risk of crypto currency and i always think positively and believe that bitcoin will recover soon and will be victorious again
i don't bitcoin will die, even though the reasons you gave for bitcoin seems likely true, i believe the bitcoin ideology is stronger than that and will continue to grow stronger. yes there are lots of coins which can do what bitcoin is created for, notwitstanding they dont pose a threat to the existence of bitcoin in anyway.
well i don't agree with the reasons you gave for the death of bitcoin. Yes technology continues to get improved and there are other cryptocurrencies which serve the same purpose like bitcoin like the ripple, but the bitcoin idea is more unique than that of all other coins. Bitcoin may be facing some challenges now but sure in no distant time it will bounce back stronger like it has done in the past.
We can not say that bitcoin will die with only prediction. We can predict the price but not the future. Bitcoin has still a lot of popularity and day by day more users are joining with it. Price can up or down but for this, we can not say that bitcoin will not survive.
Well in my own contribution i can call all these speculations or predictions which may turn out to be true or may go the other way round no one knows i just believe lets all wait till when it dies or goes extinct then the story can be told thanks
In my knowledge bitcoin can not be eliminated or it can be die because on daily basis people use it for thousands of transactions and the blockchain technology has made it easy to every one that from at your home you can make online transactions and with this the online businesses are growing and the expertise also comes while in some jobs innovations have seen through the expert services of crypto users.
Yeah, it really can't be denied if the existence of bitcoin is increasingly threatened. This is because many bitcoin competitors are competing to provide benefits for connoisseurs of crypto currencies. This crypto currency coin provides tangible benefits that attract the attention of the enthusiasts. Bitcoin is increasingly marginalized and even more dead because bitcoin cannot compensate by displaying innovations that can be useful for its lovers. I myself regret when bitcoin does not immediately display innovation to maintain its position.
There is no need to make this post here just to frighten the newbies over here. If it is going to die, that's how you see it not all of us. stop causing market here and leave for good.
Bitcoin is the leader in the crypto community which determines how crypto will be in the near future. There are many institutions planning to accept bitcoin as a medium of payment. some are already working well. There is no way BTC will die
Well i think bitcoin will never ever die at all. If bitcoin will tend to die maybe it will already die before but it is not dying, bitcoin is just experiencing a huge dip and it will really rise soon. Dip is really a normal thing in crypto because it is really decentralized. I think we maybe need only few patience the bitcoin is now slowly rising which means the market is now really start turning into green. Bitcoin is the leader in the crypto community which determines how crypto will be in the near future. There are many institutions planning to accept bitcoin as a medium of payment. some are already working well. There is no way BTC will die
There is no need to make this post here just to frighten the newbies over here. If it is going to die, that's how you see it not all of us. stop causing market here and leave for good.
Bitcoin is the leader in the crypto community which determines how crypto will be in the near future. There are many institutions planning to accept bitcoin as a medium of payment. some are already working well. There is no way BTC will die
Bitcoin is the leader in the crypto community which determines how crypto will be in the near future. There are many institutions planning to accept bitcoin as a medium of payment. some are already working well. There is no way BTC will die
Perhaps bitcoin will dip into $4000 by the end of year.
Even the price of bitcoin will dip into $4000 in the end of this year it will not a reason die simply because the token will probably die if there is no investors or the value of token will become 0 on the market. Bitcoin will probably survive because the number of investors already become double and I hope it would not happen.
I don't think bitcoin and cryptocurrencies in general can disappear. These technologies are already gradually being introduced into the world and are increasingly recognized as very convenient and profitable to use. So I don't see any reason for bitcoin's death yet.
Most altcoins are technically different from bitcoins, so people invest money in them.
Bitcoin can easily borrow the property of altcoins, which it finds useful.
Altcoins must compete not only with Bitcoin itself, but with everyone who wants to make money on it.
Bitcoin security is much higher than that of altcoins.
In addition, Bitcoin is much more affordable - more exchanges, more people wanting to sell it, more software and more equipment that supports it. Bitcoin has the largest developer ecosystem with more software and implementations than altcoins.
Bitcoin can easily borrow the property of altcoins, which it finds useful.
Altcoins must compete not only with Bitcoin itself, but with everyone who wants to make money on it.
Bitcoin security is much higher than that of altcoins.
In addition, Bitcoin is much more affordable - more exchanges, more people wanting to sell it, more software and more equipment that supports it. Bitcoin has the largest developer ecosystem with more software and implementations than altcoins.
If bitcoin dies, all existing crypto will die, and there will be no more cryptocurrency. That is the uniqueness of bitcoin where every existing crypto moves its price following the movement of the price of bitcoin. For that I believe that bitcoin will never die, and always lead in the crypto currency market and become a guide in the price movements of each crypto that exists.
Over the years it seems to be "eliminated", but bitcoin still lives and develops very strongly. Also, if you want to stop bitcoin transactions, you almost have to crash the internet, so the chance of bitcoin death is very low.
Those are just FUDs being spread so the prices can be dumped and the whales can buy them for cheap. These bullshits are so common right now that spreading those news has actually become ineffective. People now understands that what is right and what is wrong in this case. By the way, stopping transactions does not mean you have killed bitcoin. As long as bitcoin has a single unit value, it is still alive.
I think you are wrong. You think like that because you and your friends are aware of bitcoin, but if it is seen in the true sense, about only 30% of people is know about bitcoin. It does not matter, bitcoin will continue to grow, it will not die.
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