Bitcoin value starts with people's attention? or with its technology?

FAHRKERIM

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Quote from: Zionatin on January 27, 2020, 12:55:41 PM

It's the curiosity and uniqueness of the technology but with the technology comes scams. I don't often pay attention to projects with too much hype. Especially if the hype is all they have going for them. Like you say those very likely turn into scams. The easiest way to figure out if it is a scam is to see if the hype is caused by people making profits. Think of scams like bitconnect. The good returns cause much of the hype it had and people saw it working and didn't care where the money really came from.

Can't disagree with that one. Greed is a huge trap for herds of thirsty pollywogs, and scammers know this better than anybody

Zionatin

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Quote from: pixie85 on January 24, 2020, 03:07:20 PM

Both are important but technology is more. Attention comes to products that offer something innovative and this means that a good product will eventually draw attentio and succeeed. A bad product can buy attention or lie to you at first but in time people will see it for what it is. It's the technology that counts because a bad project + attention usually means lies and scams.

It's the curiosity and uniqueness of the technology but with the technology comes scams. I don't often pay attention to projects with too much hype. Especially if the hype is all they have going for them. Like you say those very likely turn into scams. The easiest way to figure out if it is a scam is to see if the hype is caused by people making profits. Think of scams like bitconnect. The good returns cause much of the hype it had and people saw it working and didn't care where the money really came from.

gundala

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?
I think we still live fine without having Bitcoin being actively used in our real lives.

Of course, Bitcoin is an alternative to conventional financial systems and provides users with transparency and privacy, in contrast to the previous financial system. So despite many controversies, bitcoin is able to survive because the innovation offered is very good.

Quote from: aosis on January 22, 2020, 12:22:02 AM

But which one is it that raised its value so much though?
Technology or People's attention?

Public attention is gained by unique and extraordinary technology, which is why BTC is a very good alternative and attracts the attention of many people who want a new system that is better and more profitable. So, this is a combination of the two that makes the value of BTC continues to increase, especially the halving system that makes BTC a rare commodity in the future. This is a neatly arranged innovation.

pixie85

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Both are important but technology is more. Attention comes to products that offer something innovative and this means that a good product will eventually draw attentio and succeeed. A bad product can buy attention or lie to you at first but in time people will see it for what it is. It's the technology that counts because a bad project + attention usually means lies and scams.

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Quote from: supercanada1 on January 24, 2020, 11:50:48 AM

Quote from: ohyeahhaha122 on January 24, 2020, 07:57:39 AM

I think there have been many times in the history of Bitcoin the value has soared, so a lot of investors have started to pay attention to it, it just keeps going on getting more and more investors, the volume of Bitcoin's transaction has also increased many times, I think of this market as a financial playground rather than paying attention to its technology

It is people’s attention that results in the increase of Bitcoin price. In the next step, increased price gain attention of more people. So, it is a two way process and both equally support each other. But the underlying major support is the technology itself as it is because of the technology that we are attracted toward it and this leads to more transactions that increase the price of Bitcoin.

No, people's attention didn't increase the BTC price, the users and investors of it are the one who made changes. Whales also made their step on making a change on BTC price. So once they made an increase, it will attract those people to invest in BTC also and they will use those people to benefit on their own. Most of the people are only focused on the price not in the technology, even in here, there are many people who still not care about technology but have a lot of investments.

supercanada1

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Quote from: ohyeahhaha122 on January 24, 2020, 07:57:39 AM

I think there have been many times in the history of Bitcoin the value has soared, so a lot of investors have started to pay attention to it, it just keeps going on getting more and more investors, the volume of Bitcoin's transaction has also increased many times, I think of this market as a financial playground rather than paying attention to its technology

It is people’s attention that results in the increase of Bitcoin price. In the next step, increased price gain attention of more people. So, it is a two way process and both equally support each other. But the underlying major support is the technology itself as it is because of the technology that we are attracted toward it and this leads to more transactions that increase the price of Bitcoin.

ohyeahhaha122

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I think there have been many times in the history of Bitcoin the value has soared, so a lot of investors have started to pay attention to it, it just keeps going on getting more and more investors, the volume of Bitcoin's transaction has also increased many times, I think of this market as a financial playground rather than paying attention to its technology

SummerBliss

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The technology underlying Bitcoin is groundbreaking. Bloclchain has many use cases which can disrupt many industries. But Bitcoin as a currency which challenges the present monetary system needs people's trust and support to actually become successful as a currency and/or replace traditional currency.

Bitcoin needs more adoption. Right now the people's attention is more important than the technology.

Sanugarid

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Quote from: affandi on January 23, 2020, 02:54:13 AM

Quote from: topbitcoin on January 22, 2020, 10:08:54 PM

Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

My apologize for people that maybe not agree with me, but bitcoin last pump i think really get hyped that is why people aware with it. And not because it's technology because after it, bitcoin price looks not get any support anymore except from it's early investor especially when it is dumped. Because if bitcoin technology keep developed and can attract people, it must be already staying in high price.

I also thought like that, the big pump that happened in 2017 was the ICO hype, because all ICO projects use the token / altcoin purchase method with BTC. and not only BTC, ETH and BCH are also one of the buying methods. these three crypto really had fantastic prices at the time, but after the ICO began to disappear, the prices of the three cryptos began to fall. but hopefully I misjudge, and the reality is that Bitcoin is indeed worth defending because the technology has been widely used by many people in the world.

I think that is both. It is because of the technology which is actually innovating and that is why people are encouraged to start making money with bitcoin because of its benefits. We all know that there are lots of benefits you can get when you are involved with bitcoin and with its technology. How are they gonna like bitcoin if the technology itself is not that good? As we are continuing our journey here, there are lots of technology are being produced with different uses of course and that technology is correlated with bitcoin or cryptocurrency itself.

thesmallgod

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It is not the rise of the technology that makes the price of the bitcoin to rise but rather the people's attention about getting to know that a particular so called e-currency price has risen by 500% within few highs. I could remember then that bitcoin started trending on social media because it becomes a subject of discussion by the news media. When I knew bitcoin in 2012, I didn't even know there is anything like blockchain technology. I was just doing my thing and using liberty reserve (LR) but when lr was banned by the United State in 2012/2013, it was then I got to know about bitcoin but it didn't catch my full attention because nobody was accepting it for local currencies in my country then. It was latter that the BTC price hike was windling up that the importance of the technology is being given attention.

isaac_clarke22

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It's both.
People will invest their fiat money into it regardless if they want to use it for its technology or its value.
It is increasing the demand as it is.
Although I am here for both, but majority of it would be the utilization. On the other side, I still manage to earn some from hodling Bitcoin and I keep the habit of doing so.

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Quote from: crzy on January 23, 2020, 03:04:52 AM

Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

Technology before but right now its more on the peoples attention and peoples mindset. Bitcoin is good for transacting faster than the banks but since governments are against this one, we can't enjoy its true potential. Bitcoin will grow more if there's a big support from the government and the investors.

Governments are not supporting this digital currency because of its decentralized nature. They are fearful that making this currency legal would snatch the control of them over the citizens. But still people are enjoying its true potential as the market is growing at a faster rate. I think if governments will allow this currency to be used legally and would remove all restrictions from it, the economies of the countries would become more stable, more people will be attracted toward this currency and this will increase the price of Bitcoin.

Oceat

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Quote from: AjithBtc on January 23, 2020, 09:54:14 AM

People's attention along with the technology advancement has made the value. The technology is big and a game changer, by the time if there is none to use then the value it hold is zero. With time the adoption and usage of cryptocurrencies keeps growing which is by the people and the continued updation of technology makes it usable for the long term.

What do you mean by "by the time if there is none to use then the value it hold is zero?"

I don't know what do you mean by that but i suppose you mean if Bitcoin would runs out/empty. I don't think Bitcoin would just go empty with this open market, because if there are traders then it is constant that Bitcoin is just recycling back and forth by the traders. It's impossible to think that everyone would just hold their Bitcoin.

You don't have to worry because it takes over hundred of years before the last Bitcoin is being mined.

keeee

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Quote from: yulionoo on January 23, 2020, 12:29:32 AM

I think both of them are really needed to increase the value of bitcoin. some people are interested in bitcoin because the technology underlying bitcoin is very revolutionary and also makes it easy for us to make transactions. and bitcoin to be able to grow also needs attention without public attention bitcoin is not likely to increase. and in my opinion bitcoin will come to the attention of many people when bitcoin can reach an ATH value of $ 20k.

I see it also as both peoples attention and technology because with people they keep improving the technology that we are using and getting wider the ussge of cryptocurrency. In fact bitcoin will still valuable because of lot of investor that we have.

coin-investor

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

People's attention is easily gone when they find something interesting that do now if Bitcoin does not have value at all, people will not become interested in this technology, when I first discover Bitcoin I become interested in its uniqueness, it's something that has never been done before and people knew that they have to be part of this technology.

AjithBtc

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People's attention along with the technology advancement has made the value. The technology is big and a game changer, by the time if there is none to use then the value it hold is zero. With time the adoption and usage of cryptocurrencies keeps growing which is by the people and the continued updation of technology makes it usable for the long term.

Yamifoud

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Quote from: dimox on January 23, 2020, 04:06:29 AM

Quote from: Liquid_Gas on January 22, 2020, 12:25:10 AM

Bitcoin value starts with secure technology. Attention leads to greed, and really LARGE piles of money tend to fly around every two or three years.

right, at the first time people look for uts technology, but many of them now earning profit. people will think bitcoin is very good because the technology, and they believe someday they will gain much profit after collect this coin.

It is because people will much appreciate Bitcoin as an investment but not as the technology itself. Granting that it makes more susceptible to the people if they could make money rather than to use of no returns. It is really to push the people and consider Bitcoin as a currency especially to the place that Bitcoin/or any crypto coins aren't accepted and it is hard to realize its purpose until cryptos will be accepted anywhere in all online transactions.
It may be we could have to wait for another decade before we are fully considered.

Murat

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Of course, both would be the reason for becoming an important thing in the current market, I think with the invention of Technology, people are getting attracted to this system, I think people's curiosity is one of the most important things in this issue, When people know at the first time about Bitcoin then they started to search about the actual facts and findings about Bitcoin, day by day when people's hype was increasing then the market was being developed in that way, I think this is how a market usually develop. so both technology and people's attention were the key factors for the present Bitcoin status.

Danne87

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Quote from: dimox on January 23, 2020, 04:06:29 AM

Quote from: Liquid_Gas on January 22, 2020, 12:25:10 AM

Bitcoin value starts with secure technology. Attention leads to greed, and really LARGE piles of money tend to fly around every two or three years.

right, at the first time people look for uts technology, but many of them now earning profit. people will think bitcoin is very good because the technology, and they believe someday they will gain much profit after collect this coin.

but usually speculators lose

dimox

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Quote from: Liquid_Gas on January 22, 2020, 12:25:10 AM

Bitcoin value starts with secure technology. Attention leads to greed, and really LARGE piles of money tend to fly around every two or three years.

right, at the first time people look for uts technology, but many of them now earning profit. people will think bitcoin is very good because the technology, and they believe someday they will gain much profit after collect this coin.

Topic: Bitcoin value starts with people's attention? or with its technology? (Read 534 times)