Topic: Different opinions about bitcoin - page 4. (Read 835 times)

Those who aren't into bitcoin are probably those who would have differing opinions than the rest. They probably don't know how bitcoin works, or how to use it in general that's why their opinions are entirely different than those who have some knowledge on how things really are. Can't force them to like it, and they have to find for themselves the answers to their questions about bitcoin. It is like a gambling thing though most investments out there are a gamble too, albeit associated with minimal risks due to it being recognized and protected by law. In bitcoin it is still a wild west thing when we talk about regulations even though the regulators are slowly encroaching whatever space that we're working with. But yeah, opinions are opinions after all that doesn't alter any facts. These same people would be the ones scrambling to get on board when their suspicions are extinguished and they want to have some piece of the pie.

as the saying goes "First they ignore you, then they laugh at you, then they fight you, then you win”. So that simply summarise what happen to bitcoin, in the beginning there are a lot of critics and saying that this won't simply work and then they downplay it saying it is a some sort of gambling, Ponzi scheme.

But now in the first 10 years, specially this year, many people from billionaires to average Joe have finally shift their notion on what bitcoin is. So we will see where bitcoin goes in the next 10 years, it is so disruptive that it could be a life changer.

• its a promising asset if u know how to use its fluctuating value properly and i am not just talking about buying low and selling high , one who has done some research about different cryptos and has  fair knowledge of crypto market can make a good profit by exchanging cryptos even when the BTC prices are low  
• Elimination of banking fees and comparatively has very low transaction fee for international transactions/ payments  

You've started it wrong.
Bitcoin is still a risky investment. Just imagine how could have been feeling during 2018, 2019 and most of 2020 those who bought Bitcoin in December 2017 and you'll know what I mean. (Just imagine they may have needed the money in 2019!).
There are 2 types of saying for the same thing, depending on "optimism" (let's say it simple). "If you don't risk a little, you have no chance for (big) gain" and "If you don't risk, you'll surely not lose". So yes, for some, investing (especially the riskier one) is similar to gambling.

I agree that "empty brains" tend to have bigger mouth, but you may be forgetting that on internet and media some people say what they think, but also some others say whatever helps them (usually for various types of material gains).

The truth is always somewhere "in the middle".


I remember that a very young colleague at work told us (years ago) that he's investing in stocks. That's rather unusual here, at least for so young people, hence some smiled or even tried to mock him a little.
Now imagine the reaction on Bitcoin investments!
People are much (much, much, much) more reserved about new things than they want to admit (or acknowledge!).


It was "a hell of a ride", and may continue to be so. It's not for everybody.
Hence the general rule "only invest what you afford to lose" (again, quite similar to "only gamble what you afford to lose"!!!), because in case you buy just before a bubble ends, you may sell at a loss or keep the money locked for longer time than you'd like.



We'll see. Let's not predict such things. Central banks are close to issuing own stable coins. If the system gets used to them, Bitcoin could easily "get in", as something international, as something that cannot be devalued by certain country's decision. Of course, for that to be achieved Bitcoin price will have to stop bouncing like crazy in all directions  

If you consider risk a gambling thing, then about anything out there should be considered gambling as well. Bitcoin isn't like gambling at all for me, although I do get why people say they're similar. When you have no clue what Bitcoin can do for you, you only see the very basic stuff of it that has been heavily promoted around mainstream media, such as volatility and supposed crimes.

I agree with the last opinion of yours tho. Bitcoin has very small, almost null chances to succeed as a currency that's supported around the world (specifically, in the larger states). It does have incrementally higher chances the more three-letter agencies get to analyze and the easier it becomes for them to monitor everyone through BTC.

Others consider Bitcoin gambling because of the risk involved due to its high volatility and I don't think it is fully true to say life is a gamble because we don't know what will happen tomorrow.  I think the better word is uncertain.

Anyway, investing in Bitcoin blindly can be considered a gamble but those who study the market of Bitcoin and invest in it won't say so because they have done those investments with risk management to minimize failure or losses.  That said, I think people have different views and opinions towards Bitcoin, and it is said that in point of view, There is no right or wrong, only a difference in perspective.

Just because someone gave their opinion that how they think bitcoin is like gambling, you call him empty brain? Are all people that don't share your same opinion are "empty in the brain"?
There are reason that people think it is more like gambling since you don't know what the price of bitcoin might be the next day. It's like you are playing game of chances, but then again isn't stock market, business and every other thing we do in our life more or less like gambling?

If someone calls Bitcoin is gambling then although they aren't right, but they aren't wrong as well at the same time. Isn't life is a gamble, do we know what will happen tomorrow? Same here, we don't know what will happen with Bitcoin tomorrow, it would bump or dump as well. So, if during that time you are a bitcoin holder then you are on a gamble. Technically it's not a gamble, it's just a cryptocurrency. But automated gamble happening here. Honestly, very few peoples realize bitcoin technically.

Posting an image wasn't necessary for that post. It will discourage the reader to read your post. I was just about to send merit on your post, but unnecessary images discouraged me.

And what makes you think that BTC is fully backed?  or fully supported?  Honestly, I don't see any difference between money created by the government and the BTC produced by miners except for the latter being limited, at least fiat money is supported by the government which we all know have the authority over their respective jurisdiction and is covered by the law created by the government while BTC does not have any of these.  Don't get me wrong, I really like BTC, its that we tend to look for the other party's flaw while neglecting the blemishes of what we are supporting.  The only beauty of BTC is its decentralized nature which is somehow being invaded by the government through implementing KYC on third party services.  The technology can be copied / duplicated since it is an open-source program so I think there is nothing in there to make it so special.

Exactly! Bitcoin is only volatile in terms of other fiat currencies. Why should we consider USD as the base currency to measure bitcoin's volatility when USD itself isn't very stable and fluctuates in terms of other fiat currencies whenever US economic conditions change?

So the best way to estimate a currency's worth is from its real value, known as 'Purchasing Power'. Keep every currency in isolation and calculate the purchasing power for each i.e. goods and services which can be bought from single unit of the currency. I bet bitcoin will have the highest purchasing power (in fact the only with positive PP compared to fiat currencies) in last 10 years.

People bad-mouth bitcoin as a risky investment. But in reality, if you are saving fiat currency from your salary every month, you will lose the value after 10 years due to inflation and reducing PP. However, if you save bitcoin every month - who knows how rich you will be in 10 years!

1) May be in future it may become the reserve currency in the world.
2) Employees will be paid in BTC, it has already started slowly in near future it will expand.
3) Those who want save their earnings they start in BTC even this has started and expand.

In my opinion national currency Will be measured against BTC, a lot more to come guys this will definitely rule the world.

Bitcoin by nature is a currency. But there is nothing stopping people from using it for gambling, as you can use any other currency for gambling. For example you can enter Forex market and gamble on each fiat currency too but that doesn't turn fiat into "gambling"!

While bitcoin has never had any plans of replacing anything or becoming every day currency that every single human being on the planet uses it, but it is already a global currency that a lot of people are using in their day to day payments.

Yes, I'm Agree with you. They don't have the knowledge about bitcoin so they just say what they have heard with their empty mind there is a fine line between gambling and bitcoin they just lack the basic understanding of both terms. Bitcoin Education is really important

Do you mean that governments have to buy stocks in order to pump the stock markets?
This is a ridiculous idea.
By the way,the fans of John Maynard Keynes(and most of the leftist economists and politicians) really think that growth CAN be solved with money.This theory has been proven wrong several times in the last 50 years.
Anyway,Bitcoin is gambling,if you don't know what to do after you buy some BTC.If you have a clear strategy,then investing in BTC cannot be called gambling.

We humans, have our our own beliefs in everything which I believe we need to respect. And in this modern time, more individuals became more fascinated with bitcoins because of the great features and benefits it brought us. But still, there are lots of people who keeps on criticizing it. And you are right, they new less about the real and deep meaning of bitcoin, only the negative thoughts that they heard from non-believers. Well, I do believe in saying that goes, "An empty can is more noisy than a filled can". Somehow these people will realize what a great opportunity they just passed by or even make laugh with. They absolutely need a proper learning process and a consistent research to discern that Bitcoin investment and its other features is a golden opportunity that could definitely help us lift and restore our economy by the great earnings and profits that we can get from this crypto industry.

Well in a sense, it's more like an educated guess rather than a complete guess, or a gamble. There's a thin line that separates what we think of as gambling and what we think of as investing imo, and having people think of the two as something similar to each other can't really be avoided, especially if that someone has no knowledge of investing. Yes, Bitcoin si a risky asset to invest in, and at times can be called a complete gamble (like really, let's be real, there are one or two investors out there who just went all in with Bitcoin since it's famous, and that could basically be called as a gamble imo), but history facts check out that even though Bitcoin is a risky investment, it can provide huge returns.

I'd say there's somewhat some truth to it. But people are forgetting that things aren't always binary.

It's not the case that:

• Holding bitcoin = gambling
• Not holding bitcoin = not gambling

It's just not that simple. Holding bitcoin being "too risky" completely depends on:

1. How much of your total capital is actually allocated to bitcoin?
2. Do you have enough fiat to spend for emergencies?
3. Can you actually afford price crashes?
4. Do you have any high interest loans you need to pay off?

And that's just the tip of the iceberg. Though I'd argue that in today's day and age, it's actually more risky to not have bitcoin; even just a very small percentage of your net worth should be allocated imo.

These are bitcoin bygones, people and many governments now know what bitcoin actually is, that is why many organisations like PayPal and many others want to provide bitcoin services. There was a time some people called bitcoin a ponzi and also were times bitcoin was depicted black. But with all these bitcoin still was able to rise, those that have invested earlier take the lion share of the gain. Some people can still call bitcoin anything they want but bitcoin is just an opportunity many people do not realize in time.

Some people say bitcoin is like gambling (my answer: they have no understanding of bitcoin and the more empty the brain, the more open the mouth)


Some say that the country should grow by investing in attractions such as the stock market (growth here can not be solved with money with its first education and learning)
On the road to success, they always make fun of you first.After you succeed, they realize that they are wrong and in the end they regret it.



In the end, bitcoin has grown, but there is a lot of room for growth.
I'm not saying to put all your money to sleep in bitcoin, but one day buy the size of a Satoshi dollar, then we will understand that you did the best job.



And there is little way for bitcoin to become an everyday currency, because bankers and governments, because they have emptied people's pockets by printing unsupported money, do not want currencies like bitcoin to enter the cycle.
Good luck.