Topic: Have we underestimated Bitcoin? - page 5. (Read 3068 times)
I hope that those who influence the fate of bitcoin know what they are doing. Now we see many problems with bitcoin. Endless forks and the constant increase of prices for the transaction may alienate potential users and lead to collapse.
I literally underestimated Bitcoin. Because the price was still too small. But over time the price of Bitcoin goes up and I regret never underestimating it.
In a way I agree, but I still don't feel it's fair to say that bitcoin is "old" or "underdeveloped" at all, Even though there are currencies with other technologies but the most significant point is whether these technologies are better than bitcoin, and I don't think so. Bitcoin has went through years without being abused in a devastating way to the currency, while flaws and hacks are appearing in it's biggest competitors using different algorithms. I see it using an already bullet-proof technology better than adopting a newer but more vulnerable technology.
Many people still underestimate the potential of Bitcoin until now even though its price is growing, and we can't do anything about that, let them hate until they want because that's the only thing that they can do best. Bitcoin will go wherever it wants to go and for me the price of it will upward trend more in the future.
I don't think it's really 'hating' on bitcoin; I think it's just hard for people to place their faith in a monetary system that they do not fully understand. it also doesn't help that for those who do understand bitcoin, they understand that the path is paved by major miners that could potentially cause hard forks and attack the network if they chose to. I was sort of the same; I couldn't really place faith in 'magic internet money' when I first heard of it. Some of the most common critiques of Bitcoin are: "it's too slow" or "the blockchain is getting too big". Sure newer coins offer faster tech, more sophisticated algorithms that are ASIC resistant, and so on. Let me ask you this - do you ever ride the old train in your city? Do you sit on the train and wonder why they don't put in a new superconducting train instead? We use the old train and it's no wonder because it works. Don't fix something that isn't broken, haven't we all learned that the hard way? And if it breaks down, surely it will be cheap to repair. Besides, what do you think cost more to complete, the train itself or clearing the path and laying the tracks? Bitcoin has value because it is a store of currency that will appreciate AND because it's just there. How can you buy the hottest new altcoin? Directly with fiat? You must but BTC from a Bitcoin exchange, then trade it on an altcoin exchange.
So often I see people saying "we are in a bubble" and "when the bubble bursts..." - but weren't these people saying the same thing when BTC made a huge push up to 2,700? Maybe we simply underestimated Bitcoin. Remember, Bitcoin is the first of its kind. We can't really look to history to predict how it will be valued like we can with other things.
So before you sell your coins, ask yourself this: how long has the old train been running in your city?
So often I see people saying "we are in a bubble" and "when the bubble bursts..." - but weren't these people saying the same thing when BTC made a huge push up to 2,700? Maybe we simply underestimated Bitcoin. Remember, Bitcoin is the first of its kind. We can't really look to history to predict how it will be valued like we can with other things.
So before you sell your coins, ask yourself this: how long has the old train been running in your city?
That is the problem , Old Bitcoin Does not Work.
If everytime you went to ride the Train, you had to wait for hours because all of the train was full and other people paid more than you so they kept jumping in front of you in line,
I do believe you would be thrilled if the new train with the ability to carry more passengers, so rich people would not keep bumping you from your train ride.
And your Fares would not keep increasing.
Bitcoin Cash is the New Train that can meet the schedule and carry all of the passengers.
https://www.youtube.com/watch?v=bACKLW19XdE
Segwitcoin will be decommissioned.
╥Aztel
You are not seeing the bigger picture. Bitcoin Crap is fast at the moment, because a bunch of greedy miners shifted their hashing power to it, because it is currently more profitable to mine.
Also, BTC activated SegWit and most tx's are still being done on legacy wallets. Once more wallet providers start to enable SegWit compatible wallets, you will see a significant improvement in BTC confirmation times.
The final nail in Bitcoin Crap will be the activation of the Lightning Network. No other train will keep up with the Bullet train.
I don't know why some people view bitcoin as a pozi scheme, there is a far different between bitcoin and ponzi.
Bitcoin is a digital currency while ponzi is just a program that runs it activities with money. And until we understand this fact people will keep on selling there bitcoin as soon as they get it cause of the fair of losing they investment.
The best way is to study and understand it and keep drinking the old wine cause it tast the best.
Bitcoin is a digital currency while ponzi is just a program that runs it activities with money. And until we understand this fact people will keep on selling there bitcoin as soon as they get it cause of the fair of losing they investment.
The best way is to study and understand it and keep drinking the old wine cause it tast the best.
Many people still underestimate the potential of Bitcoin until now even though its price is growing, and we can't do anything about that, let them hate until they want because that's the only thing that they can do best. Bitcoin will go wherever it wants to go and for me the price of it will upward trend more in the future.
i think if we talk about 2 to 3 year before than yeah most of the people underestimate its potential and it we talk about the day it launched "2009" to onward then yeah everyone underestimate its potential but i think now i think there are many altcoin which have more potential than it and they will go to moon in the future.so, its better to invest in altcoin rather than bitcoin now. they will do same like bitcoin in future
I agree that it has been underestimate, from the start peoples already sceptical about Bitcoin, most of them not believe that Bitcoin can survive and Bitcoin also always being associated with criminal which made the reputation worse, but the real usage of Bitcoin is very huge, there are so many good things that we can get from Bitcoin, if people looks more carefully they will realize that Bitcoin is a great thing
Even though they underestimated bitcoin their mind will changed if they will know what is bitcoin and what are the importance of having it. Bitcoin is the future of our current money and it will help us to do remittances faster than the traditional and that is when they are not going underestimated bitcoin anymore. 
I agree that it has been underestimate, from the start peoples already sceptical about Bitcoin, most of them not believe that Bitcoin can survive and Bitcoin also always being associated with criminal which made the reputation worse, but the real usage of Bitcoin is very huge, there are so many good things that we can get from Bitcoin, if people looks more carefully they will realize that Bitcoin is a great thing
Yes, bitcoin has been greatly underestimated in the past and many people still do not believe in it. I don't really get your analogy about the old train. Btc is not an old train, it is growing, developing and facing innovation. It is not stuck in the past.
I agree it is not an old train because bitcoin value is volatile. There is massive adoption that price keep increasing and I believe it has a bright future. It usually understimated in the sense others dont believe in bitcoin and not interested to adopt its development.
We could divide people in to two sects regarding this.First set of people who were in bitcoin market from the beginning know very well the potential of bitcoin and they are well aware of bitcoin's price movement.They just keep silent during huge price dips and just continue to buy bitcoins at lower price.By this way,they have accumulated lots of bitcoins.They believe that bitcoin deserves more higher prices than its price today.
We have another set of people mostly filled with newbies and some altcoin promoters and also some big whales.Newbies always have a tendency to get panic on seeing even a small price dip in bitcoin and they strt selling their bitcoins at cheaper price.Altcoin developers and supporters are always interested in spreading FUD to make bitcoin price fall.Even big whales also spread FUD to create panic among newbies so that they could buy bitcoins at cheap price.
But the people who believe in bitcoins would get the lion's share.
Let me introduce you to the third one who is still ignorant of bitcoins. May be, people like me have underestimated its power in the past but I feel sorry for those who are still making the same mistake. There is no doubt, only those people who have trusted in bitcoins and supported it in every situation were able to change their lifestyle at 180 degrees through bitcoins. We have another set of people mostly filled with newbies and some altcoin promoters and also some big whales.Newbies always have a tendency to get panic on seeing even a small price dip in bitcoin and they strt selling their bitcoins at cheaper price.Altcoin developers and supporters are always interested in spreading FUD to make bitcoin price fall.Even big whales also spread FUD to create panic among newbies so that they could buy bitcoins at cheap price.
But the people who believe in bitcoins would get the lion's share.
Even till today, bitcoin is still very much underestimated and that is why there are several forks going round trying to assist the real bitcoin itself. Also, several people have come out to say, its a bubble, it will burst, others have said its a Ponzi scheme while some others have are saying its illegal. Above all it boils down to individual perception of bitcoin and understanding the various project that have come out from the technology behind bitcoin.
I underestimated bitcoin when its value is $400 and I think it would not get higher anymore it was 2015 then. After I get interested in bitcoin again in 2017 it was $1000 and I realize again it was its peak since it was already high than other currencies so I left again and utilize the 0.03 I won at gambling. After few months I can't believe it becomes $2700 and I am starting to get serious since I have learn my lesson in the past years.
Those who underestimate bitcoin are not the true believers of bitcoin, I think they do so in an attempt to discourage people from using bitcoin only so that they can accumulate as much of it as they can. They keep criticizing bitcoin whenever they get a chance but at the same time they don't miss even a single opportunity to grab bitcoins whenever or every time any such opportunity comes their way so in fact they are just hypocrites. But I am sure the number of such people is very less compared to the people who truly believe in bitcoin and no matter what they always stand by it.
Many people still underestimate the potential of Bitcoin until now even though its price is growing, and we can't do anything about that, let them hate until they want because that's the only thing that they can do best. Bitcoin will go wherever it wants to go and for me the price of it will upward trend more in the future.
Why do you think that bitcoin is undervalued. Nobody knows its real price. Now the price dictated by speculative demand. If speculators leave the market price of bitcoin can be significantly reduced. I think that until that happens we need to develop trade in goods with bitcoins, but it does nothing.
Yes, bitcoin has been greatly underestimated in the past and many people still do not believe in it. I don't really get your analogy about the old train. Btc is not an old train, it is growing, developing and facing innovation. It is not stuck in the past.
I agree it is not an old train because bitcoin value is volatile. There is massive adoption that price keep increasing and I believe it has a bright future. It usually understimated in the sense others dont believe in bitcoin and not interested to adopt its development.This is s not wrong because we are accustomed to living with risks and burdens that we do not bear alone, in the sense that the government facilitates the currency perfectly, many people can not open their eyes with bitcoin because of all the risks and responsibilities held by themselves. Only those who dare take risks and aware of investments that are able to adapt quickly, at first I was also dismissive but did not take long.
Yes I agree with most commentors here, bitcoin had been underestimated and is still underestimated by some because it is slow but a lot also believe in bitcoin and its development which is progressing year by year.
Yes, bitcoin has been greatly underestimated in the past and many people still do not believe in it. I don't really get your analogy about the old train. Btc is not an old train, it is growing, developing and facing innovation. It is not stuck in the past.
I agree it is not an old train because bitcoin value is volatile. There is massive adoption that price keep increasing and I believe it has a bright future. It usually understimated in the sense others dont believe in bitcoin and not interested to adopt its development. 
I do not think it is underestimated that much. It is all kind of a "make believe". People invent new coins, forks and all, knowing deep inside they cannot beat Bitcoin, but they try to make others believe they can in order to get some Bitcoin themselves.
And many fall for it.
And many fall for it.
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