Topic: Do we really understand what bitcoin is capable of? (Read 234 times)
I am sure that bitcoin is capable to be back to the high price but it cannot happen in the next minute. it will be back in the other day and it will happen in the end, we only need to support bitcoin and waiting for the price to increase higher. I am sure that bitcoin is not yet shown the full potential that bitcoin can do and we can see the potential in the future.
Probably not, a lot of people are actually underestimating Bitcoin, a lot of people do not know the real potential of what Bitcoin has, a lot of them do not know the true capability of Bitcoin, and I think that these people will never understand the real meaning of Bitcoin, to them its just fraud, fake, scam, etc. so I think that a lot of us know the capabilities of BTC and a lot of people do not know the real capability of BTC at the same time.
There is a lot of active development in Bitcoin and its 2nd layer scalling solutions like Lighting Network. Most speculators dont watch progress in Bitcoin development closely, thats why many speculators can panic so easily
To be honest, I believe that we should give first preference to use Bitcoin as a payment system instead of focusing on the speculation part of it in the first place itself. I agree that big whales and institutional investors are trying to manipulate the market in a way they want in order to earn profit from this chaotic situation but still as a user and well-wisher of Bitcoin and blockchain based cryptocurrencies, we should focus on utility value of it.
yes I think the market is being manipulated a lot by making negative news that makes people believe it and they panic selling their coins so prices continue to down. I think that's true if the market is manipulated a lot
Bitcoin is first of its type, a crypto currency which more than 50% of world's population still haven't heard of. It is digital currency but what makes it different is that the currency has no regulator. There is no central bank like RBI or Federal Bank to regulate the flow of Bitcoin in the market. It's hard to understand how the currency came into the market and how it earned its value. The economic behind it is not easy to understand.
Secondly, Bitcoin involve mathematical algorithms which no one can understand so easily. It requires the use special super power computers in mining Bitcoin.
So this make Bitcoin difficult to understand.
Secondly, Bitcoin involve mathematical algorithms which no one can understand so easily. It requires the use special super power computers in mining Bitcoin.
So this make Bitcoin difficult to understand.
I dont think that we truly understand its capabilities. Though I myself started investing in Bitcoin because I had heard great stories about Bitcoin's once high market value and how it helped people to soar from nothing to earning the highest profits in the market. But because of its boundaryless nature I still think that I dont fully understand it other than the profits it can help earn.
Bitcoin is difficult to understand for a lot of people because they don't really understand how money works in the first place. People are so used to using fiat currency that they just know it works as a way to get stuff from people. They don't really understand how it works, in terms of why it has value, how much of it there is, how it is made, if the bank actually has the money they say they do, etc. People get confused, and put off by bitcoin because to really "understand" it you would need to be well versed in cryptography, tech, and economics, and maybe even more. It is difficult to understand it completely, but you don't have to understand something to use it and to gain value out of something. Right now the consumer facing technology for bitcoin is a bit more raw than the other technologies people use, so this makes people think it is harder to understand. People don't really understand how email works, how the internet works, how the US Dollar works, but we are able to use them easily without understanding them.
Some are at the vedge of giving up because things seems to be up and down within same specifics but lets us bear in mind that bitcoin is capable of doing everything possible to stand. For the past years bitcoin makes it that is what we hoping for.
Well almost everybody in this forum knows what is bitcoin capable and its potential. But even though we know to come and fully understand how bitcoin works and how it will help the financial sector of our economy; we can still cannot deny that we are dealing with money here and as the value of bitcoins goes down so as the investment of the people who got into it. Though we may say that we should not worry since bitcoin will climb up but we do not know what sacrifices did that person gave up to buy bitcoin. Thus knowing what bitcoin is a different story compared to the flow of the market.
Bitcoin has a long journey of nearly 10 years and it has been internationally recognized as a valuable asset, people have traded and recognized it, a good future for Bitcoin.
it will eventually happen for everyone or they will simply give up and leave. as we have been seeing in the past. people usually come in bitcoin for two reasons, either they want to make profit and don't care about what bitcoin is or they are interested in bitcoin as a decentralized currency in which case they will stick around and learn more about it to understand the true potential of it.
this doesn't mean people can't switch camps or can't be in more than one group though.
this doesn't mean people can't switch camps or can't be in more than one group though.
We do understand but put yourself in the shoes of new investors. If you bought Bitcoin for 7000 and it later on went to 6000 what would you do? Wait for it to go lower or feed yourself with hope and greed thinking that one day you'll be a millionaire?
I think with all just one goal within our mind, I think we will not tap the whole potential of bitcoin. People are afraid that when they try new things with bitcoin they might not get a profit.
some.people are just in panic mode and are frustrated with the unstableness of bitcoin but most of bitcoin users are aware of the things that bitcoin can be capable of.
I agree with OP on his statements about btc's potential and if people are already in the crypto community for a longer period, I would say that they already knew how btc works. For every bear market that is happening, people knew that this is just an ordinary thing in the market and people don't worry much as they had seen it before that btc will always recover from it's dip. Fluctuations are just part of the crypto market movement wherein during that time, corrections are being done to make another rally right after.
Yes ofcourse i understand the all situation. We have to remember that this is the new world order and there is no joke about it. The bitcoin has borned 10 years ago and today it has been reached to the top.. Who coud say this 10 years ago? The bitcoin have huge potential in all over the world.
For some months now that bitcoin has bubbled within some specific range of value, there has been a lot of threads trying to put people in fear about bitcoin is dead, leave crypto and value is going down and so forth. But if we really know the potentials of bitcoin we would calm down and allow bitcoin as we know it to be have it way out because from 2009, all what i have observed is that even if things fall apart for bitcoin, it really comes and bounce back potently. And that is what bitcoin is capable of. Let us all get it right.
They are actually unaware of the advantages of bitcoin and instead focuses on its disadvantages. If people will be like this and will not embrace technology and innovation, we cannot move on in our traditional way of dealing lives just like for example in purchasing, transactions and etc. They have to understand better on what is the value of bitcoin is in our lives.
Bitcoin give advantages and all shoping card credit card debitcard destroyed and used instant transaction so all are card destroyed so bitcoin is very effective to transactions.
Bitcoin surely has great potential in it and it gives huge profits every time to all its supports the only people dumping it are the once who think its just a way of income or a currency to use anonymously. It had many bounce back in the past and it has proved it self many time so all the early investors of it will know its potential in a better way.
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