Topic: Enough with BITCOIN SAVE us or the economy - page 4. (Read 914 times)

It is the wrong mindset of the people that is becoming the problem in here. They always thought of whatever Bitcoin can do at certain times most specially upon facing economic, political and even health issues concerning mankind. They think that Bitcoin can do some sort of help to save them from suffering into such issues treating it just like some sort of magic or sorcery when at the first place it is not like that. The problem is that they do not fully understand how Bitcoin really works so they are putting all the dependency that Bitcoin can do something about any issue. There are instances that the answer for such issues relies on the government and people to resolve the problem. People are putting too much reliance and expectation to Bitcoin and failing to commit into such makes them disappointed putting blame into Bitcoin which is not right. People are forgetting that they still have the capacity to work things out without a certain need to always rely on Bitcoin alone.

I agree with this. In particular, bitcoin can help anyone who is directly involved in this crypto world and many of them are communities. There is a high probability that the government could use bitcoin as a tool to achieve targeted economic interest such as the imposition of income tax from bitcoin. Several countries may have implemented the idea and this is an advantage for the country itself.

I think the whole idea of bitcoin was to save the regular people from the evil of our current economy, why do people want that to be over with? I mean the only reason why I am in crypto is the fact that government and banks are doing everything in their power to make the rich people a lot richer while making the poor people even poorer.

Last night I calculated that when I first got married (2014) you could buy 16 grams of gold with minimum salary in my country, today you can't buy 5, so as you can see purchasing power went down so much that we are really just barely surviving at this point and I am making more than minimum salary as well, almost double, and I still live not that well. I came to crypto because I wanted to prevent this, I want my money to worth the same purchasing power even after 20 years.

Yes Bitcoin can save us from inflation or from a total collapse of a fiat currency because of to much printing of fiat. That is only save that Bitcoin can do. But it is also a very important one.  

That's true bitcoin can help as an alternative tool for economic crisis of a country. Also it helps a lot of people during this pandemic and if the government know that how bitcoin could help, I think they will make a step to accept bitcoin.

It's seen here especially during this pandemic period it may not come in the same title as I had written but during this pandemic bitcoin has been dragged/link to be a focal point for solutions,

And it's a DIGITAL currency -not owned-by/made-by any country- and if at anytime it doesn't help the universal economy BITCOIN did not fail.

Where do we read those kind of claims?
Do you have links to it?
I haven't seen those words even in social media, or maybe I am just following the wrong personalities. 

It's not Jesus or even a hero. It doesn't save everyone, anyone or anything.
It is a currency though which might help at a certain point of time. I don't think that is now.

Bitcoin wasn't made to solve different economical problems and it's not always the answer to every crisis we encounter. Even if some people were able to find help in bitcoin, it doesn't really mean that it's applicable to everyone or in every situation. I get that maybe some are just optimistic about the future of bitcoin or on what it can do but sometimes it just really doesn't make sense looking at every possibility where bitcoin can be an answer to all problems when in reality, it's not always the answer.

Why would we think that bitcoin can save our economy, the word "economy" is for everyone who lives in a certain nation and not everyone are into bitcoin. Only us can save our economy, with a good government and policies economy will survive and succeed, bitcoin is just a hedge, nothing more.

I am investing bitcoin for my future, because I believe that massive adoption will result to significant price increase, THAT'S IT!

Bitcoin cannot be a solution to geo-economic and geo-political problems, but bitcoin has the possibility to be used as a tool for achieving economic and political interests in a region or country. Everything depends on the real world ruler, whether they allow bitcoin to take part and more of the global economy or bitcoin is considered an error that must be marginalized. But judging by the characteristics of decentralized bitcoins, they cannot control, and manipulate with the aim of multiplying and perpetuating their wealth. So bitcoin will still not play a significant role in the economy. Only the ones that create the system can improve the system.

It does happen when someone is very much happy with the outcome of his investments through bitcoin. At some point, it's a fact that bitcoin can save someone from this economic crisis or with this pandemic if he has no savings left but the only bitcoin as his asset and then he starts to cash out for his needs.

In Venezuela, I watched docus that it's saving the people there who's been into bitcoin as there's hyperinflation on that country. You just can't bring a lot of cash with low value and most of tx is there starts to become digital.

I understand that it's getting too much but we can't stop those folks who are talking like that. Maybe, they really are overwhelmed with the results for making bitcoin as their investment.

Those posts relating bitcoin to is really nonsensical. People have been iterating that bitcoin would do very little to aid an economy in distress yet questions similar to that line are still spawning as if they are being resurrected. Believing in what bitcoin can do is one thing, but believing that it is a magical, cure-all financial tool is another. That's fanatical at best, with little to no regard with the actual capacity of bitcoin to solve problems being related to it.

Quote from: Baofeng on September 17, 2020, 06:36:35 PM

Not just bitcoin though, but it you look at blockchain, there are many advocates of it that says it will change the landscape of the world economy. But these are not like a magic bean that will simply disappear the problems around it.

Treating the blockchain and bitcoin as a panacea against every socioeconomic, economic, or geopolitical problem really is the norm for some of the people who are using bitcoin. It's cringy, and not helping the cause of bitcoin at all.

People's unreasonable expectations of bitcoin have spilled out into everything. It borders on the absurd.  People who have a couple mBTC are hoping their exposure to bitcoin is going to make them rich, and so they're just blindly tacking the hype onto everything.  If bitcoin is the solution to world problems, then surely their small amount of bitcoin is going to make them rich!  So it's just the hope for this to come true that's causing people to propose bitcoin as the solution to every problem they see in the world, even though it's not a solution for almost any of them.

Not just bitcoin though, but it you look at blockchain, there are many advocates of it that says it will change the landscape of the world economy. But these are not like a magic bean that will simply disappear the problems around it.

Might help though, but still people will have to realised how they are going to treat bitcoin to make significant dent on the world financials. You have to be wise and make the right decision in order to see bitcoin as life-saver.

Not really bitcoin could save all its user with this pandemic. It does not even.save rich people from it getting sick and transmitted with the virus. However, rich people may not have to worries financial aspect for they have lots of resources for it.

To poor sectors which were being challenge by this tough times of pandemic the bitcoin currency may not also going to save. Not all people are in bitcoin and only few could be benefited from it when one user had bought bitcoin when its market price is cheap like during the market crash on 2018.

There is a reason why people think of Bitcoin that way, and to say the least, the reason is somewhat genuine, People want to know if Bitcoin can be regarded generally as a "safe haven asset" and if they can hedge their funds from devaluation and inflation using Bitcoin, that's the main reason why when 'traditional aseets' are falling during a crisis or major govt decision such as printing money from thin air, Bitcoin (gold/silver too) gets into the picture, and imo, I don't see any problem with it at all, it's btw helpful in btc adoption and in the process a win win for us all.

Bitcoin being decentralized and different from the kind of money people have come to use and understand provides a different sort of opportunity for it's users, this year for example, have seen many corporations (MicroStrategy for example) adopt Bitcoin, converting their fiat to btc and making it their reserve asset, and that's because they believe "Bitcoin can save them" and their aseets from devaluation. Big firms have bought into this idea, which is indeed true and worth any risks they and their shareholders are taking converting millions of dollars to Bitcoin.

Tl;dr, anti-inflationary (decentralized) assets like Bitcoin will always gain more traction when centralized money and economy plunges (or in a cisis situation) cause of the opportunity it provides to hedge against inflation/devaluation.

 It's becomes a safety issue/risk now telling people am into Bitcoin, any time I do I sense this feeling like I have made it in life, in them, some even openly express there feelings showering honouring praises and I am not even Rich this don't make me safe. I had to stop saying am into Bitcoin but I know/understand what it -bitcoin- might be about.

People hear Bitcoin and imagination runs gaga/funny, this is not how it should be.
We don't have to bring BITCOIN as solution to/for everything.

Bitcoin is just a tool, but lets be honest many think of bitcoin as some sort of magic Internet money and they think it can fix anything and everything and that is not the case, in the case of a crisis bitcoin can serve the function of being a store of value that you can carry with you without anyone noticing it, when all of this started and the effects of the pandemic were unknown there were many doubts in the minds of the people, at least in my country the amount of cash you could withdraw from ATMs was lowered which meant that a bank holiday was a real possibility, and during that time you have no access to the funds on your account and in that case bitcoin will allow me to have some money in hand to buy what I needed while everyone else has to figure out what to do, in which case holding bitcoin makes a big difference.

People forget that bitcoin is just another form of currency but owned by none that is the real reason why people are expecting more from it.Bitcoin is not going to save anyone but one who understand the speculation and market condition then they can use to it to save themselves like what happened in the March 2020 when people sold mot of the cryptos but the real minds bought because they know this is the right time.

Most of them make those post with literally zero sense. If anything takes place they think "bitcoin" can always save them. The worst part is they can't give facts/logic on how it is going to save them/economy/anything. They just think that bitcoin can save because it is the "best" (i am not a bitcoin hater or anything, but it is far from the best).
If we see the world is about to end, I wouldn't be surprised if someone makes a thread saying bitcoin can stop the world from getting destroyed lol.
Are you sure they are huge fan? Or some bunch of dimwits who has no idea what they are talking about? The other day I was arguing with a person who believed the government prints money based on the number of people in the country lol!