BTC seems to be fading out and loosing popularity.

Ryker1

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Quote from: Yatsan on March 21, 2021, 04:42:04 PM

^[snip]
Maybe for small investors and newbies, they are being discouraged on how the price moves that seems to be far beyond affordable to them.
But it doesn't mean that Bitcoin's popularity is fading out for there are still lots of people wanting to have Bitcoin of their own.

Well, you have a point there, and additional --perhaps due to the fee of bitcoin that quite high, a regular user of bitcoin will perhaps looking another opportunity that they can use while during the price of bitcoin is high. I saw most of the small transactions have been tucked and they have here looking advice, they are paying below 10 sats hoping that they will save the fee but the problem it will take time for them to wait before the transaction will be confirmed. But all of this does not mean bitcoin adoption was fade.

Yatsan

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It seems like it depends on the perception of the individual on how he look upon the current situation of Bitcoin if he will be discouraged or not because despite of the fact that the price of Bitcoin is keep on rising, there are lots of certain individuals who do still wanted to get along on engaging and investing into it and just waiting for the perfect time to enter the market. Maybe for small investors and newbies, they are being discouraged on how the price moves that seems to be far beyond affordable to them. But it doesn't mean that Bitcoin's popularity is fading out for there are still lots of people wanting to have Bitcoin of their own.

Quidat

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Quote from: TedMosby on March 21, 2021, 11:18:13 AM

*I draw a line to make it look like a trading signal Grin

**the trends could be sideways for the next few months.

Source: https://trends.google.com/trends/explore?q=bitcoin

So a bit of applying some technical indicators which do form out some sort of descending triangle which do really move out sideways but i dont see the relevance for these
to be applied when it comes into that google trend.Anything could be formed out of those information or statistics.The thing here is that you can really see the sudden
jump on November since last year when this market starts to make out some serious movement.Still surprising? No its not because its just normal for people
or the crowd would jump into something where it is really on main talks or discussions specially on finance sector.

DoublerHunter

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Quote from: NPG331525 on March 21, 2021, 11:32:57 AM

Quote from: Trinx01 on March 21, 2021, 11:23:59 AM

It seems like those people you are talking about who afraid of investing in BTC think that bitcoin already reached its fullest potential, well in fact it is not and no one can say about that, as long as there is an Internet connection, bitcoin will still be there and people will still keep on buying bitcoin. Those who are afraid will lose the opportunity to gain more money with bitcoin.

That's right, the potential for bitcoin is still very large to see the enthusiasm of the bitcoiners... fear or not, the price depends on each person, many are afraid to buy bitcoin but many still buy and continue to buy even though the price is high ...

^ Because they saw that BTC investment has a potential upon storing of value which means as a form of investment not the daily usage like a form of payment method. Those people who understand BTC investment that should wait a perfect time will surely engage and invest BTC. I don't see any reason that BTC now is fading its popularity, I saw that it is the most trending investment that day by day becomes more expensive. BTC has a unique technology protocol when it comes to real decentralization, no one coins do the same with BTC.

Mpamaegbu

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Quote from: Rruchi man on March 18, 2021, 04:29:44 PM

A lot of people already feel left out, Almost like they have missed the opportunity to invest in bitcoin, many are looking to invest in other alt coins. I had a conversation with a friend today about Bitcoin, investment and its very high transaction fees, he expressed his displeasure saying that like him, many others that he knew are no longer considering btc to invest in, rather, they are looking to invest in other crypto's.
Do you think it is too late for someone to invest in btc? Especially when it is not a huge sum?

I don't think it's late investing in Bitcoin ATM, though the price is high. If anything, an investment in Bitcoin is safer than that in altcoins because Bitcoin has come to stay. Besides, Bitcoin is yet to hit the projected price of $100,000 for it. There is still room for its upward drive.

Quote from: PointHope on March 21, 2021, 06:44:03 AM

Tesla is likely to buy another 10 billion in BTC.

Likely is probability and shouldn't be taken as what MUST happen. It must not be Elon who will buy that huge to drive price up.

NPG331525

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Quote from: Trinx01 on March 21, 2021, 11:23:59 AM

It seems like those people you are talking about who afraid of investing in BTC think that bitcoin already reached its fullest potential, well in fact it is not and no one can say about that, as long as there is an Internet connection, bitcoin will still be there and people will still keep on buying bitcoin. Those who are afraid will lose the opportunity to gain more money with bitcoin.

That's right, the potential for bitcoin is still very large to see the enthusiasm of the bitcoiners... fear or not, the price depends on each person, many are afraid to buy bitcoin but many still buy and continue to buy even though the price is high ...

nightxglow

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Well, it turns out our friends are different. When my friends knew that bitcoin price are getting higher, they all regretted the decision not investing in it sooner, and decided that they don't want to regret for the second time. So, even though the price is high already, they still willing to jump into this cryptocurrency world. Even if they can only invest for a little at the moment since the price is so high, but they still have the trust that the price will go higher in the future.
I don't think there's the word late for investment. If they still want to invest, then as long as they understand the situation, and willing to take the risk, anytime is suitable. It's better be late than never I guess.

Trinx01

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It seems like those people you are talking about who afraid of investing in BTC think that bitcoin already reached its fullest potential, well in fact it is not and no one can say about that, as long as there is an Internet connection, bitcoin will still be there and people will still keep on buying bitcoin. Those who are afraid will lose the opportunity to gain more money with bitcoin.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

yes, I agree with you, the transaction fees really become a big barrier for newcomers to join. mostly to people who don't have much money to invest.

however, let's take a look at this worldwide google trends data* for some specific keywords; cryptocurrency, bitcoin, ethereum, stocks. people's interest in bitcoin currently up and down, depending on the price. of course, it doesn't reflect the actual bitcoin or crypto users' growth.

*I draw a line to make it look like a trading signal Grin

**the trends could be sideways for the next few months.

Source: https://trends.google.com/trends/explore?q=bitcoin

santiagomaicon

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Is it really important? Institutionals are here, prices are growing, etc

ven7net

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Quote from: Rruchi man on March 18, 2021, 04:29:44 PM

A lot of people already feel left out, Almost like they have missed the opportunity to invest in bitcoin, many are looking to invest in other alt coins. I had a conversation with a friend today about Bitcoin, investment and its very high transaction fees, he expressed his displeasure saying that like him, many others that he knew are no longer considering btc to invest in, rather, they are looking to invest in other crypto's.
Do you think it is too late for someone to invest in btc? Especially when it is not a huge sum?

The fact is that while some people say that it is too late to invest in BTC, the price of Bitcoin is growing even higher. If you want to get an exact answer to the account of how high the price of BTC will increase, then you will not get such an answer, since if everyone knows the peak price of BTC, then it will not be interesting and not correct. This is a game and as in any game there should be excitement, doubt and uncertainty. This is what gives people with the best endurance to win and make a profit. Another thing is that the price of BTC is already high and I would really like to buy BTC at a low price, but then the question? Why haven't you bought BTC before?

orions.belt19

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Quite the opposite IMO. What you mean to say I think is BTC seems to no longer be in hype, but its still quite popular. While there are still undoubtedly a vast majority of people who don't know bitcoin, I think that its even more popular today as compared to the past years plus its reputation is even better as compared during the time when ICOs were booming. Because of many ICO scams back in 2017, it has tainted the image of Bitcoin and was momentarily blocked in various parts of the internet (facebook, youtube) but now you can see that they are slowly warming up to bitcoin (recent addition of crypto tab on Google Finance). This current bull run has added to Bitcoin's popularity as well, as institutions are slowly adopting. Have you even been reading the news lately?

XZERO1

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Quote from: Rruchi man on March 18, 2021, 04:29:44 PM

A lot of people already feel left out, Almost like they have missed the opportunity to invest in bitcoin, many are looking to invest in other alt coins. I had a conversation with a friend today about Bitcoin, investment and its very high transaction fees, he expressed his displeasure saying that like him, many others that he knew are no longer considering btc to invest in, rather, they are looking to invest in other crypto's.
Do you think it is too late for someone to invest in btc? Especially when it is not a huge sum?

Yep, they do, but I'm willing to bet many of them will jump in Bitcoin when/if Bitcoin goes for another big run even if they have to buy at a higher price range than now.

If I learnt one thing it's that in a bull market you never will catch the absolute dip and if you just wait for that correction or dip to buy you will most likely end up not buying at all and missing out on the whole move, some even wait for 60-70% correction to buy which is not very smart, since when something goes down that much, maybe it means the market is turning bearish and you shouldn't be buying unless it's a very long-term investment and you're willing to hold.

Distinctin

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Quote from: Rruchi man on March 18, 2021, 04:29:44 PM

A lot of people already feel left out, Almost like they have missed the opportunity to invest in bitcoin, many are looking to invest in other alt coins. I had a conversation with a friend today about Bitcoin, investment and its very high transaction fees, he expressed his displeasure saying that like him, many others that he knew are no longer considering btc to invest in, rather, they are looking to invest in other crypto's.
Do you think it is too late for someone to invest in btc? Especially when it is not a huge sum?

Well, I was hearing this claim most of the time when the market is in Bullrun. Because in the first place and during the bear season they supposedly have to start buying Bitcoin but unfortunately, they don't bother themselves to make it, instead, they keep saying it dumps more and thinking of an end to crypto. And for now, they are blaming Bitcoin for not telling it... it's a funny thing.

It is not to wonder why these people never grow and appreciate Bitcoin because they are always blaming it. They never accept their failure, they never learn their mistakes, in fact, that 2017 is a lesson to learn for everyone which I really think that they missed it.

Innerpumper

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If you say "too late" there are many more who have not entered bitcoin. I'm sure bitcoin can reach $1m in the coming years. At the moment bitcoin is stable around $50k I'm sure this is just the beginning of the real thing. We'll see in a few years.

PointHope

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Tesla is likely to buy another 10 billion in BTC.

Bitcoin is Elon Musk's 'safe word'.

blckhawk

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Quote from: Rruchi man on March 18, 2021, 04:29:44 PM

A lot of people already feel left out, Almost like they have missed the opportunity to invest in bitcoin, many are looking to invest in other alt coins. I had a conversation with a friend today about Bitcoin, investment and its very high transaction fees, he expressed his displeasure saying that like him, many others that he knew are no longer considering btc to invest in, rather, they are looking to invest in other crypto's.
Do you think it is too late for someone to invest in btc? Especially when it is not a huge sum?

Well, it is true that Bitcoin price is now expensive and the same goes for the fees too, those factors are the reasons why people having a second thought about investing in Bitcoin. It is true that Bitcoin today's was really high but you don't need to have a big amount of it, what you can afford to buy is fine because it will still gain profit as the price goes even higher. Besides, investing in Bitcoin is less risky compared to investing in Altcoins that is why it is highly recommended for newcomers. For those will think they are late to invest in Bitcoin, the answer is, it will never too late for such individuals to invest with Bitcoin.

PointHope

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Bitcoin is just getting warmed up!

Gold is all but worthless as a store of value in comparison.

The 10 trillion market cap in Gold will gradually move into BTC.

There's 500 trillion in bond debt looking for security. This will gradually move into BTC.

Very likely we will see BTC go to 100-500k this year.

BTC is the hardest most secure asset ever known to mankind..

It is not just a store of value but is also rapidly becoming a store of energy.

panganib999

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Quote from: zanezane on March 21, 2021, 04:59:47 AM

Just because the transaction fees go up doesn't mean that the popularity is losing, maybe that can affect the popularity I don't think that it will the lynchpin that will make the popularity of bitcoin go down. Not to mention that you don't gather enough data to justify the claim that it is losing popularity, testimonies from your friends is not enough evidence because there is no diversity in information and bias is a possibility.

I agree. Bitcoin actually didn't loosing its popularity but for me, it even more gaining some. These past few weeks, bitcoin experience a lot of ups and down because we all know that the BTC is a volatile coin as well as the other coins. But for me, gaining some popularity also affect the value of the bitcoin. If a coin, specifically BTC is popular, many people will urge to buy and market will definitely pump if there is a large of numbers that is buying a specific coin. But I guess others are not familliar with BTC because they are avoiding risky thing such as BTC.

Yaunfitda

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Quote from: zanezane on March 21, 2021, 04:59:47 AM

Just because the transaction fees go up doesn't mean that the popularity is losing, maybe that can affect the popularity I don't think that it will the lynchpin that will make the popularity of bitcoin go down. Not to mention that you don't gather enough data to justify the claim that it is losing popularity, testimonies from your friends is not enough evidence because there is no diversity in information and bias is a possibility.

If that is the measuring stick then by 2017, when the fees are so high, bitcoin should have fade away. But come to think about it, there are big blocks out there, and that is their selling point, but still people invest on the 'real BTC'. Perhaps his friends doesn't really understand what is the real cause of the transaction fees going up and what solutions are the dev's implementing like LN.

Topic: BTC seems to be fading out and loosing popularity. (Read 720 times)