Do you think we don't get quality Bitcoin users anymore? - page 20.

francesyrus

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

Yeah your correct on that matter. Newbies on bitcoin are just wanted to earn income from bitcoin and they even not read anything about it. Like what I always read on a social media group they are all asking ways to earn bitcoin, how to double bitcoin, etc., and no one will asks you about its history.

DrYe5

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Quote from: joseafonso123az on October 17, 2017, 03:30:35 PM

Obviously newcomers will have that fear and start panic selling. But these kind of users are also necessary for the dump and pump game that happens with almost all cryptocurrencies.
Other thing is, people are impacient to get some money nowadays, so that also make the less knowledgeable just invest for a little time, and sell for some profit.

Just as bitcoin grows the same number of new users are gaining more experience every day. This is a very good phenomenon because the more people who know about things the better for the market and the future trade.

joseafonso123az

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Obviously newcomers will have that fear and start panic selling. But these kind of users are also necessary for the dump and pump game that happens with almost all cryptocurrencies.
Other thing is, people are impacient to get some money nowadays, so that also make the less knowledgeable just invest for a little time, and sell for some profit.

Pearls Before Swine

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Of course this is the case. People here might not be old enough to remember the big
comic book boom of the early 90s. Speculators (not collectors) bought tons of comics
with the hope of putting their spoiled brat kids through college with all the money they
were going to make. Didn't happen. But this happens during every bubble, new people
who have no interest in X start buying up X and driving the price of X up to record
highs. And yep, that's happening with crypto right now.

rb26

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

I feel you. I also think that most of the newcomers here does not want to know about Bitcoin but they just come here to earn Bitcoin. Hell, they even call this forum Bitcoin! Their mindset about Bitcoin is a way of earning, and that's all. I do not know how will this affect the market but I am bothered about this.

bachvs

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i knew about bitcoin in 2013, didn't care about it at all.

jump forward to early 2017, learned bout it (still learning, kinda late, i know), and i see now people are treating it like some kind of investment, not crypto currency.
i myself still using it as a payment method.

jc89

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

You're not alone on this observation. You have no idea what I feel with what I have been seeing especially in facebook groups. Lots of people always asking first how will they earn in btc then other people responding by posting referral links which causes many people to get scammed. I haven't seen a single member asked what is btc and how it works. I understand that not all are aware of cryptos and not all are into tech. I don't claim to fully understand everything about crypto. I haven't grasped all the technicalities but I know deep in myself that I understand it to my best knowledge and I'm not just joining the hype. I know the importance of btc and I've made my own research.

affigne

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TBH, it's kinda difficult to fully understand Bitcoin and its technology, and the fact that it works perfectly to "easily" profit on makes it attractive to the casual user.

I have knowledge of bitcoin since 2012, and I didn't buy my first 0.03 bitcoins 'till 2016. I know it sucks big dragon balls, but whatever. Now I'm not only profiting on it, but getting myself more into blockchain, altcoins, and other tech-related stuffs, so I'm on my way from being a casual user to a quality user.

Surely, more people will do the same, given proper time.

z38630610

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

You are generally right but don't struggle with new generation users. All of us were like them at first. Then we spend out time on BTC and understand what is BTC. Trust new coming generations. They are going to do it better than old ones.

kueyen

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I don't think it is necessarily a bad thing that people hear about the concept of cryptocurrency via mass media and decide to come onboard. For most, bitcoin is something you simply invest in, like stocks, or dollars. You don't have to know every single detail, like nodes and miners and whatnot. All this is pretty much a non-factor for the layman.

salihno71

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New users are with bitcoin mostly for different reason - money. First users were there because it was an exciting new technology which offered the possibilities that were unthinkable before. And it was not commercially significant. It is totally different perspective on the issue.

mrbnson

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

Inevitably those people with a real passion for bitcoin are likely to have been the early adopters and many now who discover bitcoin are merely doing so because the several reports of new all time highs, however it does not mean that they cannot one day grow to have the same level of knowledge and passion for cryptos.

Lykslyks

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Quote from: Don Pedro Dinero on October 17, 2017, 02:01:12 PM

I agree with you up to a point. Early adopters had deep knowledge on bitcoin whereas nowadays many people get into it because of the price highs.

However, I don’t think it is that bad. If you only have quality users you are not going to have massive adoption, and the other way around but there are some users that get attracted to bitcoin for the price that, as soon as they get into it, they become interested in blockchain technology and other aspects so they educate themselves and improve their “quality” as users.

I see your point, but i think it's not just because the price of bitcoin is high that's why they were here. There are people who is really interested in learning what bitcoin is but the information that is provided to them is not so easy to understand or maybe not enough in order for them to learn bitcoin deeply. However, i agree with the idea that people will adopt slowly and will eventually find more informations that could help them, so that they'll be more aware about bicton and cypto currencies.

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

Couldn't agree with you more. Bitcoin holders back then really knew quite a lot about bitcoins than most of the people today. Because a lot are only into bitcoining because of the profit they expect to get. Amd simply because, they just want to be in the new trend and not get left behind.

Kniwing human nature, this was already bound to haopen ever since. Because people will always take advantage of everything they can for as long as it is good for them. Some don't even bother to stop taking advantage unless things get ugly. That's just how things work in this world.

mikki14

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Yesterday, an old colleague asked me about bitcoin. I shared some of my basic knowledge that I think he should know. I also provided him some links to where he should start reading to learn more about cryptocurrency. But he ain't got enough time, He just bought some mBTC and said he'll just observe its price. Don't know if it's a good thing or what. But I won't consider him as a low quality BTC user. I think BTC doesn't have any QC for its users. Anyone can be a HOLDER if they wanted to. They don't need to be active in researching and/or trading to be considered quality BTC users. Just my opinion.

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

Right said. Because of Bitcoin popularity, a lots of people come to use Bitcoin. But they don't have proper knowledge about Bitcoin. They come on cryptocurrency by knowing other. But they don't study about Bitcoin and cryptocurrency. That's why we face the problem.

Don Pedro Dinero

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I agree with you up to a point. Early adopters had deep knowledge on bitcoin whereas nowadays many people get into it because of the price highs.

However, I don’t think it is that bad. If you only have quality users you are not going to have massive adoption, and the other way around but there are some users that get attracted to bitcoin for the price that, as soon as they get into it, they become interested in blockchain technology and other aspects so they educate themselves and improve their “quality” as users.

pollomoolokki

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Quote from: bitbunnny on October 17, 2017, 01:54:43 PM

Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even brother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

Good observation!

But not everyone does have the time to learn... And not everyone is a technical person yet they want in on bitcoin because of FOMO. But only time will tell how this all plays out

bitbunnny

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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?

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