Topic: Blockchain technology is not a trend - page 8. (Read 1584 times)
This is the reason why I tell people about blockchain technology instead when we're discussing bitcoin and cryptocurrencies. There are many benefits of blockchain, but people are only interested in making money without really understanding how things work.
Today there are many applications that use block chain technology. It is really the trend of the technology it applies to the field of education hold table for students, apply to many different industries.
Too true... But then again, can you blame them? They joined the crypro currency game only to make a quick buck. I know it hit us hard but then again we don't view it as such. We who are in it for the long run actually understand what crypto currency stands for and we hold on to our coins as tightly as we can.
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.
You are correct in your analysis, how many people thought that internet stocks were a trend that will soon banish after the crash those stocks suffered and yet the market recovered and the huge crash is now nothing more than a temporary and small decrease in the price of the companies that survived, look at how small the crash caused by mt gox looks now, in ten years the current crash will look very small too and all of those people will regret not holding their coins.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.
Yes, you are right Blockchain is not a Trend, however a lot people ignored this reality, some are not even aware or don't have the patient to learn the crypto currency market, this mostly happened to the newbie investors because they want to have quick money return after investing Bitcoin without proper knowledge how the system work. The market movement attract people special during the time when Bitcoin price goes up to 19-20K, the euphoria posted everywhere...then come the drop to 50% of the price, it change the appreciation for Bitcoin....Scam...scam..Scam... this is the reality with people.
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.
You are correct in your analysis, how many people thought that internet stocks were a trend that will soon banish after the crash those stocks suffered and yet the market recovered and the huge crash is now nothing more than a temporary and small decrease in the price of the companies that survived, look at how small the crash caused by mt gox looks now, in ten years the current crash will look very small too and all of those people will regret not holding their coins. 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.
Most of the people knows about the price value of a cryptocurrency but never understand its true technology and this is why many people are panicking. If this technology fully understand by the investors I’m sure we will go high as expected.
Now only a small audience of people knows about the cryptocurrency and BlockChain technology, and how to use this technology is known to even fewer people. That is why, as soon as this technology will be more famous, we are waiting for takeoff. The potential is huge.
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.
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.
And after this research we can understand that price will go higher when it will be trend
Couldn't agree more with your sentiment OP and it is a tragedy that people have to judge a new asset based on how they did with it. People are quick to yell scam when they lose money when in fact Bitcoin is not a scam, and couldn't be further from it. That really grinds my gears, I wish people would judge Bitcoin on its merits and their own basis rather than listening to other misinformed individuals.
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.
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.
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