Bitcoin will NEVER reach it's ATH anymore. - page 5.

serjent05

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Quote from: mintme.com on July 21, 2020, 11:57:26 AM

People should have much more healthy approach to cryptocurrencies than "get rich quick" and should use bitcoin even if it was going to take 100 years to break ATH again.

Well, I agree, it is much better to approach the Bitcoin market in a conservative way rather than aggressive to avoid losing too much in the end.

Quote from: mintme.com on July 21, 2020, 11:57:26 AM

Only then the whole system makes sense, otherwise, even if Bitcoin was not meant to be a Ponzi Scheme and obviously is not a Ponzi Scheme, it is actually approached by many "investors" as Ponzi Scheme and they hope to be at the bottom of it. That is simply wrong.

Well, if the terms buy low sell high isn't fair and may tag BTC as Ponzi scheme then most probably the market system is Ponzi scheme itself. In the market, everyone loves profit, I don't know anyone who hates it.

Quote from: mintme.com on July 21, 2020, 11:57:26 AM

If different crypto news stopped speculating about the price all the time it would be beneficial for the quality of the whole crypto sphere.
If people stopped being obsessed by the price, it would be good too.

It won't be interesting if there is no money going around a system. Speculation is what makes the market alive, else no one except for the tech nerds will have their attention on the blockchain technology. The reason why merchants hop into Bitcoin is due to these speculation that profit is in hand if they jump in and adopt the tech. At the end of the day, it is all about profit and gain. Even inventors especiallyt sponsors have that in mind.

Quote from: mintme.com on July 21, 2020, 11:57:26 AM

This is an honest call to everyone to start treating this great invention as it's meant to be - digital money. Including crypto news websites and youtubers who think that putting higher expected bitcoin price in the title will bring more clicks (and sadly, it usually does).

Well, we can't avoid that. In a writers rule, short but powerful titles is a must and most find exaggeration as the shortcut of it. It is sad but it had been a practice for a very long time.

Quote from: mintme.com on July 21, 2020, 11:57:26 AM

One says 1 million USD in 1 year, another says 10 million USD and so on... stop it, please. You are doing it wrong.

Well, I hope your message get through them. Besides, it is their reputation that will suffer if they make an unsupported guesses just like how people look at Mcaffee now.

Wexnident

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The get rich quick idea is mostly because of the bubble that happened in 2017-18 and all of us that is in the crypto community knows that having such a mindset would not work, ever. Even if people do consider it as a speculative asset, it's actually fine, that is for now. Imo, most people are actually paying attention to it's characteristic of being as said, a speculative asset, which makes it's spread pretty big. Still, said characteristic would, more or less disappear slowly since supply would be limited by the next century.

Talking about another ATH is also fine, look at the wall observer thread in the forum. Basically, it's let the people develop what Bitcoin is right now. Ofc, I'm all in for saying that we should use Bitcoin for what it is, but saying that we should deny it being a speculative asset can also be wrong. No matter what is said and done, Bitcoin being a speculative asset and Bitcoin being an anonymous digital currency, both cases is still Bitcoing being what it is, Bitcoin..

TGD

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Quote from: TitanGEL on July 21, 2020, 07:21:40 PM

It is true that we should managed our expectation because many out there who keep speculating and predicting impossible scenarios in a short period of time but it doesn't mean that the bitcoin will never reach it's current ATH. It is good if we will just analyzing its charts than speculating its price without basis. There are still chance that the bitcoin may reach ATH but it is currently low because the trend is still in sideways, the bullish trend is not yet starting because the current resistance is so tough.

If we can analyze the chart. It really shows that Bitcoin is going downward and not showing any signs that it will reach/break all time high. The bars set during ATH (20k$) is so much high that's why it's very hard to break this downtrend if we view BTC price from the day it start trading and up to now. But it's possible to break, BTC just need a solid hype so that new people will be interested to buy it same as what happened during 2017. More hype, more people to invest.

NavI_027

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Overall, I agree on it

. Yeah! We should really start treating it mainly as a digital currency and not a store of value since it is supposed to be its purpose. I also share the same sentiment with price speculation because it's totally pointless though it creates a little bit hype for the others.

However, the price volatility was already there and you can't close your eyes to unsee it. It was a clear opportunity to earn thus people tend to really use it on their advantage. Besides, each one of us here got the side of being business minded so why don't we grab it? Isn't it? I know it seems we are shifting to the main vision of crypto but who's to blame? I believe all of us are just adapting in current nature of bitcoin. If many use it for trading then expect the rest to do the same thing.

TitanGEL

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It is true that we should managed our expectation because many out there who keep speculating and predicting impossible scenarios in a short period of time but it doesn't mean that the bitcoin will never reach it's current ATH. It is good if we will just analyzing its charts than speculating its price without basis. There are still chance that the bitcoin may reach ATH but it is currently low because the trend is still in sideways, the bullish trend is not yet starting because the current resistance is so tough.

verita1

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As time goes by we observe feelings like this around Bitcoin. Because it matters to us and sometimes we want answers about the behavior of its price that sometimes we do not understand. But what is true Bitcoin is the reason for our financial freedom, I hope we have it forever. Bitcoin is the most popular and preferred coin for everyone. We just have to adapt to the market and obtain the best benefit that it gives us. Day by day, financial solutions are being developed to be Bitcoin more than simple HOLD, ranging from earning interest, loans and other advantages.

Sadlife

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Bitcoin volatility is due to the fact that it's still young and many investors has short term speculations for their investment because it's still an unknown asset for most people that is backed with no country or firm.
We need more players in the Crypto market to adopt Bitcoin like popular 1st world countries. From that people would stop short term selling and will be insured that their money is safe.

Kemarit

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Regarding Bitcoin as a get rich scheme? Let me quote Jameson Loop,

https://twitter.com/lopp/status/1171847107243859968

I think this should be the mindset of every Bitcoin enthusiast and I'm sure they will change their thoughts about it overtime. This is one powerful message that everyone should know before buying themselves their first BTC.

alani123

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Could be true, at lest for a long period of time. But can't be true forever...
Come to think about it, bitcoin can't forever remain under its all time high unless interest in it diminishes or something. And that's something unlikely to happen given bitcoin's long history.
Power is in numbers for this coin. The more nodes, the more mining power, the more robust it is and the more value on its chain. If demand rises, its price is bound to go up. It's only a matter of when the next financial crisis hits for bitcoin to go up again IMO.

LogitechMouse

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The title of your thread and the contents of your post aren't connected with each other. You are saying that it will never reach a new ATH but in the post you are sharing about speculating Bitcoin.

First of all, Bitcoin can be an investment too (sad to say this is how other people see it instead of being a currency) and an investment can be speculated so what's the matter in speculating it. Everybody is free to share their opinions regarding the price of it. Yes maybe there are some youtubers who are speculating way too much like what you said but people aren't believing on that prediction (at least some aren't). Those people whom you said are the ones who are clickbaiting their audiences that's it.

With regards to the new ATH, I still believe that it will but I don't know when. Maybe 1-2 years from now or 10 years we don't know Cheesy

.

Viscore

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Ain't no wonder why most people will look that way as they brag by someone fueling such mindset and thinking wildly.
People should have to accept reality and that to change their mindset overly thinking about instant and quick returns because it is exactly driving them to nothing.

Up to this time, I'm not expecting we can easily reach back to its ATH just like in the last 2017. Too much speculation to reach $100k, $250k, I was out from it and kinda not to think this time as the crisis isn't over yet.

Shasha80

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Indeed the situation of investors is quite sad now, especially for newbies who still expect to get rich instantly with Bitcoin.
This way of thinking must indeed be changed, it will create a negative effect on the development of Bitcoin. The best way to
make the price of Bitcoin back to all time high, by using Bitcoin as a digital currency rather than as a digital asset. Because
more and more people use Bitcoin for financial transactions, of course the demand will go up. With a limited amount of Bitcoin,
sooner or later will make the price of Bitcoin increasingly rising. And without us knowing the price of Bitcoin can exceed the price
of all time high again.

Baofeng

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You can treat it whatever you want, (1) currency/money, (2) store of value (3) speculative asset, and there nothing wrong about that. Bitcoin has evolved so much in the last 10 years that most people think it as a get rich scheme specially in 2017. But those who think like that got burned and REKT, so there's always a lessons to be learn eventhough the market is very young. So it's really up to you to decide, whether it reach another all-time-high or not, its your call if you wanted to stay.

taufik123

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Those who create price speculations with the title 1 million USD in a year, 10 million USD and other price speculations, they only aim to influence new investors only for their own interests. Many methods of getting rich quick are disseminated to influence market prices.

Quote from: enhu on July 21, 2020, 12:35:32 PM

-snip- If it comes from someone like John Mcafee who is a popular figure in the tech world, people will believe the speculation and only to find out the price dips very low that they tend to sell out of panic.

John Mcafee is just a guy full of crap trying to speculate for the price of bitcoin. He just wants to be known by many people with his humor that is not funny at all. Just look at the speculation about the price of bitcoin which will reach $ 1 million USD by the end of 2020, that's just bullshit and just rubbish humor.

Oasisman

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Quote from: mintme.com on July 21, 2020, 11:57:26 AM

If different crypto news stopped speculating about the price all the time it would be beneficial for the quality of the whole crypto sphere.
If people stopped being obsessed by the price, it would be good too.
This is an honest call to everyone to start treating this great invention as it's meant to be - digital money. Including crypto news websites and youtubers who think that putting higher expected bitcoin price in the title will bring more clicks (and sadly, it usually does).

One says 1 million USD in 1 year, another says 10 million USD and so on... stop it, please. You are doing it wrong.

I'm sorry but that's how Bitcoin gain it's value today. Cryptocurrency is a highly speculative market, and whether you like it or not, speculations always exist as long as Bitcoin remains highly volatile asset.
And it's inevitable not to be obsessed with the price since we are investing into a digital asset.
Majority of the national government doesn't consider Bitcoin as legal tender, So crypto enthusiast are lucky enough to have a few merchants willing to accept Bitcoin as one of the payment method. As much as we want to use Bitcoin into a certain transactions, but we can't deny the fact that a lot of investors considered Bitcoin as a store of value than a medium for transaction.

IMO, nothing is wrong. Speculations and using Bitcoin as a digital money to purchase goods or pay for service is both good and healthy in the crypto ecosystem.

alberts19

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you are right people in general should stop thinking of bitcoin as a pot of gold coins that you can earn, and see it as a new way of trading that can and does grow more and at the same time support those worthwhile crypto projects that can bring many benefits

rexxarofmoknathal

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The only way Bitcoin is going to increase its value and even begin to approach its all time highest value is by gaining additional utility and/or adoption.

Until more people actually start using Bitcoin for their everyday transactions, there is no need for it to continue growing. It's not designed to be a speculative instrument, it's designed to be a mode of payment. Act like it, and it'll grow in value.

bearexin

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We can’t tell if what you have said is right about the price not going to reach ATH price again, but at the same time you’re right about people approaching Bitcoin as a Ponzi or something as such. And to be sincere, this kind of thing can be annoying at times. People who ask me about Bitcoin don’t talk about the transaction aspect of it, they only talk about how much they will be able to make when they put money into it, and then they start asking questions on how much I have invested in cryptocurrency and how much I have made, it sounds stupid to me when they start asking that kind of question.

When I started making use of cryptocurrency making profit wasn’t my aim, I was just using it for receiving payment, without minding the loss and profit I was withdrawing at anytime. It took a long time before I decided to start investing in it.

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Quote from: mintme.com on July 21, 2020, 11:57:26 AM

People should have much more healthy approach to cryptocurrencies than "get rich quick" and should use bitcoin even if it was going to take 100 years to break ATH again.

Even if means you are still expecting that price will go pass it's current ATH while this has contradicted your topic.
Surely I agree with you about how people are thinking bitcoin to be a get rich quick investment. Yes, that kind of thinking can make an investor to take decision that will be regretted because of inpatients to see price increase.

rathaha10

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I totally agree with you, a lot of people sees bitcoin as just a quick get rich investment option where they can see their investments increase beyond imaginations within a blink of eye, it is not really healthy for the true use case of bitcoin. We need to see beyond just the speculative aspect of bitcoin and promote it's use case of decentralized money and only then will see a steady growth to it's adoption as well it's price

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