I'm surprised that it's not as wide known as I thought it would be at this point in time. Bitcoin was everywhere last year, on the news, work, school. I figured by this time it would be a household name. And I don't understand how losing money would cause that, so I don't think that's the case.
I just think the majority of people do not follow world events.
Topic: Blockchain technology is not a trend - page 5. (Read 1546 times)
If only 1 person out of 10 knows about bitcoin and we come this far what will happen when half of 10 knows and have some crypto?
Bitcoins isn't a trend outside this community, but it's becoming. Few years ago you could see something about bitcoins very rarely, and when you see it in most cases it's domed fraud, or how bitcoin is good for illegal stuff, but now we have different situation. Crypto is present in many news, it's a subject of many TV shows, maybe not a lot but for sure more then before and it's growing.
If it's growing it's better you to get in before. This topic and most of the comments should be enough convincing for people to invest some money in crypto.
Certainly it is still the trend for the future of electronic finance. Even if there are bad hackers, about electronic money, stability is good. However, most of the investors are not experienced and new investors are often affected by the bad news. But one thing for sure is that the future is even stronger, and now people are still investing heavily. Bitcoins isn't a trend outside this community, but it's becoming. Few years ago you could see something about bitcoins very rarely, and when you see it in most cases it's domed fraud, or how bitcoin is good for illegal stuff, but now we have different situation. Crypto is present in many news, it's a subject of many TV shows, maybe not a lot but for sure more then before and it's growing.
If it's growing it's better you to get in before. This topic and most of the comments should be enough convincing for people to invest some money in crypto.
That's the common problem of the people, once they see that something is in trending, they would jump just because a lot of people are spreading FOMO about it without even trying to do some proper research. They see Bitcoin as an investment to gain a lot of money and not a technology that would change a life of the masses. It's really annoying sometimes because they blame it in Bitcoin. Let's just hope that in the next bull run, people are well informed of what they are trying to join.
I think that the biggest differentiating factor between bitcoin and other "fads" is that bitcoin actually has a lot of backing from adopters that came before the pumps of 2017. As you mentioned, most people jumped onto bitcoin as a speculative investment in the middle of 2017 looking to make profits.
And most of these people inevitably closed their positions as the market plumetted. The earlier adopters that know what they were doing expected the bull market to end sooner or later, and as a result, did not panic buy or sell.
It's clear to me that bitcoin is going mainstream over the long run, but these periods where the market sentiment is bullish/bearish will always happen, and prices will act accordingly. In a bull makret, it'll always mean irrational investors trying to buy in at an unreasonable price looking to make a profit. But if you actually understand what bitcoin is for - you realise that it's something for the long run instead of making profits in the short run.
this has actually existed since a few years back but became a trend when it is already a lot of feel the benefits so that they try to switch to this technology, if at the beginning of time its emergence may still not believe the public and the internet is still not widespread in some countries, with social media everybody knows and tries to fight the fate here. And most of these people inevitably closed their positions as the market plumetted. The earlier adopters that know what they were doing expected the bull market to end sooner or later, and as a result, did not panic buy or sell.
It's clear to me that bitcoin is going mainstream over the long run, but these periods where the market sentiment is bullish/bearish will always happen, and prices will act accordingly. In a bull makret, it'll always mean irrational investors trying to buy in at an unreasonable price looking to make a profit. But if you actually understand what bitcoin is for - you realise that it's something for the long run instead of making profits in the short run.
Talk to an average person, and 9.9 times out of 10, they’ll have no idea what blockchain is, with the exception of maybe Bitcoin. If they do know, it’s surface level details at best.
Well you are correct, but why do need to learn about blockchain though. This is a niche market, so not everyone would be really interested on the technology behind. But what's on front, which is Bitcoin.
When a trend emerges, some people don’t want to wait to see how things play out — especially when there’s money to be made. Perhaps this story can be an example:
Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.
Then the price dropped by 50%.
By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.
Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.
Then the price dropped by 50%.
By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.
I'm sure that who lost faith, are investors who jumps in and think that they can make money in short amount of time, Which didn't happen.
Unfortunately, that patience was not widespread. Many people who jumped into the industry looking to make a quick buck ended up jumping back out at its lowest slump. They chalked their ill-timed participation as the fault of blockchain being a “trend,” opposed to looking at the long-term nature of what it means to build something globally impactful — and the rising (and falling) tides that come with such a massive undertaking.
This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.
This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.
Yeah, they jumped out because they don't understand how the market works but it has nothing to do with blockchain though. And I have to disagree that everyone should understand the tech. Just look at the smart phone industry, do users or investors understand how everything works at the background? Nope, as long as they know that the can call someone and "see" the face on the other line, they don't care how it works, because its the "real usage in real life" that they are concern with. If Bitcoin can be used used as a mode of payment and very quick confirmations, they wouldn't bother understand the technology behind. IMHO.
You are wrong, blockchain technology is now the trend of the world economy, almost all economies are exploring this technology.
Blockchain technology in terms of security, privacy protection, removal of some intermediary, to solve part of the lack of trust, is a technological advancement with realistic meaning!
The trend of blockchain is definitely based on the ability to solve some of the problems that exist in our real life and create value.
The trend of blockchain is definitely based on the ability to solve some of the problems that exist in our real life and create value.
Now only a small percentage of people know about cryptocurrency and BlockChain technology, and how to use this technology is known by fewer people. That's why, as soon as this technology gets more popular, we're waiting to take off. The potential is huge.
We may have different opinion on the above topic, it maybe said that Blockchain Technology is not a Trend but its instead it is like a Data Bank of all the information we need in the crypto digital transaction, Yes, i feel sorry how people react on the entry of crypto currency into the market, its only a portion of general population by each country who happen to be an investors into crypto market. Let wait for the total acceptance of crypto globally.
Not every people in other countries does really know about how the block chain works, maybe cryptocurrency is viral but the technology behind cryptocurrency is not known very well.
Now only a small percentage of people know about cryptocurrency and BlockChain technology, and how to use this technology is known by fewer people. That's why, as soon as this technology gets more popular, we're waiting to take off. The potential is huge.
We may have different opinion on the above topic, it maybe said that Blockchain Technology is not a Trend but its instead it is like a Data Bank of all the information we need in the crypto digital transaction, Yes, i feel sorry how people react on the entry of crypto currency into the market, its only a portion of general population by each country who happen to be an investors into crypto market. Let wait for the total acceptance of crypto globally.
I can't blame them for shouting scam after Bitcoin, the news about bitcoin scam is escalated every time and I see it in our local TV news but the good thing what blockchain can do doesn't even reach into their monitors. When a long time friend asked me how am I doing, I told him I'm into cryptocurrency trading this time and he without even thinking he could offend said "the bitcoin pyramid scam?"
Good thing I defended myself by telling him he has no idea about bitcoin and blockchain.
If only 1 person out of 10 knows about bitcoin and we come this far what will happen when half of 10 knows and have some crypto?
Bitcoins isn't a trend outside this community, but it's becoming. Few years ago you could see something about bitcoins very rarely, and when you see it in most cases it's domed fraud, or how bitcoin is good for illegal stuff, but now we have different situation. Crypto is present in many news, it's a subject of many TV shows, maybe not a lot but for sure more then before and it's growing.
If it's growing it's better you to get in before. This topic and most of the comments should be enough convincing for people to invest some money in crypto.
Bitcoins isn't a trend outside this community, but it's becoming. Few years ago you could see something about bitcoins very rarely, and when you see it in most cases it's domed fraud, or how bitcoin is good for illegal stuff, but now we have different situation. Crypto is present in many news, it's a subject of many TV shows, maybe not a lot but for sure more then before and it's growing.
If it's growing it's better you to get in before. This topic and most of the comments should be enough convincing for people to invest some money in crypto.
The blockchain technology is specifically built for the purpose of big data which means that as the data increases in the world the needs of it to remain safe and away from the hands of hacks rs and numerous security threats remains unresolved
Can't agree you OP at some point. Now we got in result that people (most of them) know bitcoin but they have no idea about blockchain technologies, that's logical because blockchain wasn't subject of a review, everytime there was a talk about bitcoin, it's opportunities, it's pros and cons. But if you see, this technology becomes popular among developers and I bet in some year this will be massively used, maybe people still won't have knowledge about blockchain but it will be implemented in a lot service like land titling and etc.
I quite agree with you that blockchain is not really a trend yet considering the fact that not many of the population knows about it. But in the aspect of people jumping into Bitcoin during its peak hoping to make profit out of it, I believe it is lack of information or education about the cryptocurrency market and price fluctuations. Maybe there should be a better awareness about this to our friends or colleagues. Sometimes, excessive buying during a particular time raises the prices far beyond what may be considered normal. When such a rise happens in the value of an asset, price sustainability becomes a problem, and fall becomes imminent.
Talk to an average person, and 9.9 times out of 10, they’ll have no idea what blockchain is, with the exception of maybe Bitcoin. If they do know, it’s surface level details at best.
When a trend emerges, some people don’t want to wait to see how things play out — especially when there’s money to be made. Perhaps this story can be an example:
Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.
Then the price dropped by 50%.
By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.
Unfortunately, that patience was not widespread. Many people who jumped into the industry looking to make a quick buck ended up jumping back out at its lowest slump. They chalked their ill-timed participation as the fault of blockchain being a “trend,” opposed to looking at the long-term nature of what it means to build something globally impactful — and the rising (and falling) tides that come with such a massive undertaking.
This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.
For me it's not just a trends. It's a big movement of millenials era. It's our new choice. We can choose our payments media not only with cash money. When a trend emerges, some people don’t want to wait to see how things play out — especially when there’s money to be made. Perhaps this story can be an example:
Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.
Then the price dropped by 50%.
By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.
Unfortunately, that patience was not widespread. Many people who jumped into the industry looking to make a quick buck ended up jumping back out at its lowest slump. They chalked their ill-timed participation as the fault of blockchain being a “trend,” opposed to looking at the long-term nature of what it means to build something globally impactful — and the rising (and falling) tides that come with such a massive undertaking.
This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.
Blockchain technology was developed in the initial decade of the twenty-first century and has been expanding into different scripts of the global severy since its inclusion into the financial sector in the form f cryptocurrency is just another example of its potential
Blockchain technology is a trend of future technology development!
The blockchain may bring about tremendous changes in the future society, and the application of blockchains in the future will be ubiquitous. It will greatly promote social fairness and transparency, greatly increase social efficiency, and reduce manpower wastage.
Yes, blockchain technology is a revolution in the current 4.0. Blockchain helps create a non-destructive security system and the link chain helps to manage the system in a great way. I think Blockchain technology will be the most powerful trend in the next few years. The blockchain may bring about tremendous changes in the future society, and the application of blockchains in the future will be ubiquitous. It will greatly promote social fairness and transparency, greatly increase social efficiency, and reduce manpower wastage.
Most people learn about bitcoin when it's in the hype, but end up with a defeat instead of growing and if you ask the common man then yes that's right, not everyone knows about blockchain technology
It is true that most persons have no idea about what cryptos are except in some advanced climes. statistically,bitcoins and Cryptocurrency knowledge and use in the United States is about 7 percent, far higher than what you get in most places.Gradually,the adoption will grow over time. That's why it is better to see it as a long term investment
yes that's true when calling blockchain is not a trend. because it is the development of a technology and its implementation is not limited to cryptocurrency.
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