BITCOIN misconceptions - page 5. | Bitcointalksearch.org

amaral1977

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Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

I wrote this before and i agree with you. Don´t know if for the same reasons, but in the end i don´t forsee BTC as a currency but i believe in it as a store of value asset. It has some drawbacks as a currency, that would make it a good asset.
- Slow and expensive transations: bad for a currency, but not that relevant when storing value.
- Scarcity: Will encourage volatility and price growth. Not good for a currency, very good to store value.
- Privacy and fungibility (Lack of): Definitely very bad for a currency not that bad to store value if it comes from legit sources.

The list could continue.

StarofBTC

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Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

You’re right – most of the people in this forum doesn’t seem to understand anything about bitcoin – they see it as a Currency (real money) where as Bitcoin is not, but an asset for investment. We should be seeing bitcoin as gold, and not as a currency. And we shouldn’t just quit our main jobs because of it, let it be a side job, unless you’re hired by a Bitcoin company that will pay you a similar amount or more than you’re getting paid monthly from your regular job.

KEPLER99

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Quote from: atc1-REAL on October 16, 2017, 09:46:05 AM

Even if its meant to be a currency, the price appreciation and the way it is being treated in the market have made it of more use as an asset and not a currency, unfortunately. Plus, the link to the dark web has taken root as the primary view in the mainstream media, so those accepting btc as a currency too would think about that. In 2014, a lot of vendors started accepting btc, but they closed it in 6 months because people were barely paying using btc. All these combination of factors have made it what it is today.

When bitcoin was innovated it was just a replicate to the cash currency and now people really turned out its meaning it is now source if profit now and is mainly used for the investment purpose, that’s also right thing but we dint have to forget its basic idea and thanks to the stores who are accepting bitcoin as payment they are making it to count in currency so that one can spend also,

BlueStackz

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Quote from: edynolan on October 16, 2017, 06:31:20 AM

it's right of them and it's not wrong, their regular income is less than in this forum so it's very clear to leave it and join the campaign in this forum.

There is hardly any doubt in this thing that one can earn a very handsome amount of money and that by joining this signature campaign. As far as misconception regarding to that of bitcoin is concerned, the most common misconception amongst the people is that bitcoin is not like paper money and we cannot use it anywhere in the real world.

Undermood

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Some people earn money in real life works and some people choose to work online get get paid in btc or any other crypto currencies.
There is no problem in here. So Freedom will find the best way.

Kotone

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Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

Bitcoin is not a financial solution whetein once you get in would instantly change and you would be a millionaire. Bitcoin is somethig that needs to be worked on constantly and should be able to not be quickfix. It involes lot of risks and investment before you get big.

orions.belt19

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Quote from: Ilegendph on October 16, 2017, 05:30:56 AM

Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?

You cant blame them. Campaigns here in forum is so promising that they can earn more than their day job offers. And most of the people in the community are freelancers that seeks job and will spend what they are earning here to sustain daily needs and house utilities.

They are put in a situation which forces them to treat earning bitcoin as a source of income because it is more profitable than their actual jobs. A lot has testified that they're earnings from the signature campaigns has helped them more than what they have earned from their regular jobs.

I agree with OP that it should be treated as an asset instead. There is great potential for bitcoin and it would be more profitable if they invested in it instead, however we can't blame those who sell bitcoins for income. Their situation makes them do so, and they need to sell their coins so that they have money to spend on their expenses.

ALT67890

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Quote from: Almat on October 16, 2017, 05:14:53 AM

Quote

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?

This is not true at all. Most people I encounter here are actually advocates of HODLing. Although I guess spenders aren't too uncommon either. Pretty much everyone here knows the potential gain of holding.

I have to agree at this one. Even Op has the right evaluation or observation on some point that generalisation of how the members think or act maybe inaccurate.

Mostly and even I, look bitcoin as an asset as Op said. Maybe your talking about some who do Signature/bounty campaigns who are online everyday. We can’t also blame the majority if they go unemployed to focus on bitcoin. Maybe because they’re daily earning is not worth they’re hardship.

audaciousbeing

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Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

I won't say its misconceptions rather would say understanding. The cryto industry which bitcoin hold significant fort, is free to be understood by different groups of people achieving the same objective which is ensuring the continued popularity of bitcoin.

While the group who believes holding bitcoin as a store of value, are contributing to ensure that there is no flood of bitcoin in the market that would then drive the price downwards.

For those who are buying and selling, they are also contributing by ensuring that bitcoin is available in the market for both new entrants and those in the earlier group to have something to keep in other to meet their own objective.

frowsiter

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That's really personal thing to spend or save the bitcoin in first place. I mean people are here to earn the money and some of them are living out of it so it's important for them to convert the bitcoin into fiat currency. That's because they might be not thinking the way investors think! But there is also some portion of people who are real investors like me or may be you who think the bitcoin in different way. That's opportunity for us to grow the wealth and secure our future with it. That's why it's completely okay for everyone to choose the path.

Kevondo

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Quote from: tomahawk9 on October 16, 2017, 09:21:36 AM

They could definetly sell their cash for bitcoin, but if they can earn more by doing a sig campaign, then why not do it? and i don't think many people here, especially in this foum, are spenders. I would say a majority of the users are long time holders who seek to maximize their bitcoin profits in the long term by getting paid in btc. Besides, you also learn a lot about bitcoin by doing a sig/twitter/blog campaign, certainly a lot more than any other job you could have (unrelated to cryptocurrency), so that's also a big motivation.

The cash was important in the past for the shopping but n0ow the bitcoin is the most important and the most demanded currency of the ear in the past the citizens were using the money as to start the business and the money but now it is the modern era and the people are aware of the bad and the good of the high increment, the price of the bitcoin is increasing so buy the bitcoin and then take the benefit of the high profit.

miyaka26

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Your opinion is correct however you can treat bitcoin also as a currency because it is a currency just in the digital, don't just finish the line with just an asset and investment even it is fluctuating in the market because you can buy with it, stocks in market can consider an asset and investment because you can't just spend them quickly for everyday use.
I can't blame people who chose crypto over their job if the pay is good then so be it, some of them make bitcoin as a sideline so expand your opinion for that don't just focus on them.

marjoree

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Presale is live!

It is really the most reason of all the people here and thats no ones fault because thats what we really get from campaigns but its their choice if they spend it right away but it is really the best if its saved first because bitcoin price will rise up and do investments

Eternu

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I agree with you when you said it is better to keep Bitcoin and wait for price to grow, so that we can earn more money that way. But don't forget that Bitcoin is currency, and that we are suppose to spend it. Also there are those who need that Bitcoin income now, for bills or some other things. I also agree that leaving job because of Bitcoin is wrong, but if it works for that people who are we to argue...

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

You are the one here having such belief. Firstly, only an unreasonable person will have a very good and well paying job, leave it and start living on campaigns. It is not even realistic.

It is possible some people may be getting an extremely low pay and then decided to switch to making use of the campaigns instead or using their skills in a way to get to work and earn bitcoin rather than giving the whole time to a job that does not even pay them that much.

In situations like this, they will live and practically sustain themselves, so you cannot expect them not to withdraw some of what they have. After all, it is more like working and taking a few percentage of it out to purchase bitcoin.

evilgreed

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I highly agree with OP, there is no sense leaving your job and focus here full time. There are also what if's in this state, and to tell it honestly nothing is for sure and guaranteed. You can always do both having regular job, while at the same time part timw working here in the forum, investing in bitcoin instead of using it as a day to day currency.

yamortsac

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There were some people leave their job to focus here because they consider this also as their job since they earn income from here that is more higher than their previous job. and since this is their source of income they spend it to buy their needs and wants.
But i think when they stay here for a long time they will learn to hold their bitcoin because they will consider it as investment that will give them more profit.

sofi@

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The main reason why many works on signature campaigns is to earn bitcoin to support their daily expenses so we cannot blame people if their earnings were spent right away instead of keeping them besides its their right to do so, they don't want to keep bitcoin as investment because they need it, just let them do what they want.

palle11

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Quote from: haroldtee on October 16, 2017, 05:40:55 AM

First and foremost, if you find something you can do (not just campaigns), to earn you far more than what your normal job will give you daily after devoting the same time to it, I see no reason why you should not. After all, we switch jobs for better pay, passion comes next. In this case, I do not see a problem if such a person decides to withdraw some of the coins to take care of somethings, unless he or she is planning to starve to death.

Moreover, if they were working, there could even be a possibility of not having enough to even buy bitcoins in the first place. So what are we then saying? Because the value of bitcoin will keep increasing, they should wait until then before they start making use of it?

I equally see reasons with you because you can't starve to death because you want to hold bitcoin. If one dies that way, he/she loses whatever fraction he has. Taking some parts of what you have to take care of your needs that you would also have done while on a pay job is still the same.

You can even take some to do other businesses, trade etc, is still part of building finance from the capital raised from bitcoin .
No hard feelings.

fiulpro

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Quote from: jekjekman on October 16, 2017, 03:52:13 AM

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

Hey

Maby people consider it as a any normal money that they get by doing signature campaigns , I completely agree with you because in the future obviously the price of bitcoins will for sure rise, experts has predicted for its value to hit the 6000$ mark and then 8000$ mark by the end of December.
Thus people who will hold onto it will have a hard time because of panic selling well, people will normally see before November 15 because they are concerned about keeping their assets safe, so the people who will be holding onto it won't be able to encash it if the need arrises.
Anyways... Bitcoins are a very nice option , well you can make better profit than gold if you hold onto it.

Topic: BITCOIN misconceptions - page 5. (Read 1977 times)