Topic: Hard to swallow pills about Bitcoin and Blockchain - page 2. (Read 321 times)

This is a view some might be having, but the fact is bitcoin is not created to eliminate banks, how you think everyone is going to purchase bitcoin, if the theory was true you need to invest in mining hardware and start mining so that you do not need to use your bank account to purchase the coin, if not any purchase you make you need a bank account to transfer the money unless you plan to risk yourself and meet a complete stranger to purchase bitcoin with cash.

With the market which is having too much emphasis on speculation rather than using it as a currency, what do you think, majority is looking to make the profit.

If you had a decentralized and private way of earning money and you had to choose between that and  someone guiding you all the way from beginning to end, providing you full support for any kind of issues you encounter and so on... Would you choose the hard or the easy way? My gut feeling says the larger percentage would take the easy way because you feel "safer" being guided.

You get the same feeling of safety when you come here as a newbie and are guided around. But how many people who are into crypto get the support they need? We don't have customer service and forking Bitcoin Core off GitHub to read the docs isn't the same as entering a bank and being met by someone who wants to help you.

Therefore, a lot of people really are in the game for the money. Where large sums are being made, there will always be an increase in the percentage of people who don't care about anything but profit.

Lots of people are selling Bitcoin through banks, but it's not a requirement. Peer-to-peer remains an option you can still pick as a Bitcoin holder.. so adoption is in my opinion not slowed down or anything, it's just that it takes a long while before people start realizing "hey, we are finally getting it and we certainly are needing it!". That's when BTC clicks as a need for the average human, because privacy and freedom are two of our basic rights. We need it and it's evolving faster and better than ever before.

I don't use a bank with my bitcoins because I don't want the government to know how much I'm holding, selling and what I'm spending my money on. I exchange face to face for cash and have a legit fiat income to my bank account that I use to pay bills. I know that many people choose to withdraw to their bank accounts, but traders who often switch between currencies and pay for their cryptocurrencies with bank transfer don't have much choice. Many people want to run a licensed business and pay taxes, so don't blame them for cashing out via a bank.

Sounds like a lot of bitching to me.

Author must have sold his BTC at $18k and is now salty

Providing there are enough people who understand the technology, it doesn't really matter how many profit seekers come and go.  For all the false claims people try to make, Bitcoin still adheres to the founding principles of open source, permissionless freedom and finite supply.  I don't foresee that changing any time soon.  We don't lose anything of value when the people who don't appreciate those principles fall by the wayside.

It's also likely that many of the people who originally came seeking profit decided to stick around once they learned more about the technology. 

An interesting view of a person who is involved in Bitcoin for a long time.
Bitcoin and blockchain was created to eliminate banks as a medium of exchange. But people go to banks to withdraw their money. Which is a total contradiction.

Are people really in the industry for the money? Is this the reason why adoption takes such a long time?

Do you share his view?


https://crypto-potential.com/post/hard-to-swallow-pills-about-blockchaincrypto