Is Bitcoin close to becoming totally irrelevant for most "normal" people??

Ziskinberg

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Quote from: jossiel on January 09, 2022, 03:21:22 PM

It's only you guys that you're becoming less interested in bitcoin because you're looking at the price as it goes down. That's normal and many people in the past did the same thing. When it's on the top, they were all excited and happy and when they see the reality of volatility, they've became disappointed.

That gonna be like and certainly, OP won't understand the situation as only he sees is negative, not knowing the positive contribution that Bitcoin has. I'm not sure if he could visualize the future of crypto in the other way...if that going to happen, I was glad.
Bitcoin is for everyone but sad to see that many are still doubtful about this.

Quote

Those examples that have bought at low, you can also take that example like after hitting $20k, many have bought too at that top and then the bear came and they sold at losses. But if they happen to become patient for those years and held on just like what everyone is saying "HODL", they're able to see their money back at $20k and even more from 2020 up to this year.

Buying Bitcoin during the dip is obviously a good strategy, some just skip it as they wait for the recovery. But these dip buyers gains a lot more than the other however, they got tested by their emotions and patience.

Fatunad

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Quote from: jossiel on January 09, 2022, 03:21:22 PM

It's only you guys that you're becoming less interested in bitcoin because you're looking at the price as it goes down. That's normal and many people in the past did the same thing. When it's on the top, they were all excited and happy and when they see the reality of volatility, they've became disappointed.

Those examples that have bought at low, you can also take that example like after hitting $20k, many have bought too at that top and then the bear came and they sold at losses. But if they happen to become patient for those years and held on just like what everyone is saying "HODL", they're able to see their money back at $20k and even more from 2020 up to this year.

They are focusing that much with the price or its value without tending to look on its actual real use case or potential which does really matters or people should really look upon.
If you dont really put up that much interest or only looks for a certain single point which you wont really able to appreciate its overall existence.You would really be finding it
to be irrelevant if you do just mainly focused into its price and when it comes to literacy then this would vary on each person because we do have different
taking and perceptions into anything.

A62662

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Quote from: uneng on January 07, 2022, 06:26:58 PM

Quote from: A62662 on January 02, 2022, 04:13:10 AM

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.

Something like this is already happening as the interest rates for fixed income investments in USA are being raised by the central bank, so we see small crashes in bitcoin price, but at same time, as we can see, the price never falls too deep, because the average investors or even the biggest ones buyback right after.

This gives us a good hint on how strong and relevant bitcoin is for crypto market's members in general.

And even though the price heavily crashed, it would be the perfect opportunity for many buyers to boost their holdings for cheap price, consequently leading the price up again immediately.

You are right on the money with regards to what is unfolding in your first sentence, the second part not so much.

The fed will increase the fed funds rate and this is hurting the entire financial market including crypto/Bitcoin. As far as I can tell this recent downturn is just the start of it. The financial pain going forward will probably be much worse than most of you expect. The downturn could drag on for years.

jossiel

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It's only you guys that you're becoming less interested in bitcoin because you're looking at the price as it goes down. That's normal and many people in the past did the same thing. When it's on the top, they were all excited and happy and when they see the reality of volatility, they've became disappointed.

Those examples that have bought at low, you can also take that example like after hitting $20k, many have bought too at that top and then the bear came and they sold at losses. But if they happen to become patient for those years and held on just like what everyone is saying "HODL", they're able to see their money back at $20k and even more from 2020 up to this year.

famososMuertos

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bitcoin is what it was in the past ... past (

obvius ), that happens with many assets and situations in life, the issue here is that regardless of that, it is still available and to anyone person, I assure you that many people can access to have bitcoin unlike access to gold for example, today bitcoin is an asset of important and relevant value that is available to anyone like no other asset in history.

I don't know If you understand the point ... get your satoshis, save them or sell them, but bitcoin is there more current than ever and available to anyone, maybe you were late for your present but for the future of your generations, maybe not, be humble and save your satoshi for your descendants.

Newlifebtc

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Bitcoin can not become irrelevant, once we continue moving Bitcoin have credit and values also regards to our countries, the people who is taking Bitcoin and also think that bitcoin is irrelevant is those people that never master Bitcoin value, if bitcoin price drops that does show that Bitcoin is becoming irrelevant, i disagree with you

Shasha80

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Quote from: Luqman on January 07, 2022, 05:59:02 PM

Quote from: Shasha80 on January 07, 2022, 05:04:11 PM

Many newbies don't learn Bitcoin from reliable information, so they misunderstand Bitcoin and don't understand how Bitcoin works. So most newbies
are just in a hurry to invest in Bitcoin and expect instant profits, so they think Bitcoin can make people rich instantly. Yet the reality is not like that,
only people who have good knowledge and experience in crypto world, who will succeed in profiting from Bitcoin.

They may learn it from reliable/trusted information but they didn't understand it properly. The perception of instant profits or easy to be rich in crypto is the main mistake here. They will fail and won't last a long time in crypto if they only focus on that perception. It is not easy to succeed in crypto investment, I myself already experienced too many losses before earning good profits. If the newbies didn't change their perception, they probably will state BTC is boring after losses 2 or 3 times.

Indeed, sometimes we learn Bitcoin from a trusted source also does not guarantee that we can understand it correctly. If indeed we have
difficulty understanding Bitcoin, there is nothing wrong with looking for a mentor who can guide us to understand Bitcoin properly. Or we can
spend money to take the course, that's much better in my opinion, because usually if we follow the course it will be easier to understand Bitcoin.
That way we will be more patient to get profit, because sometimes like you said we have to lose several times first when investing in Bitcoin.
But because we already understand how Bitcoin works, we won't think negatively about Bitcoin. Therefore making a profit in the crypto world is
not as easy as imagined, we need to be patient through a long process to be able to generate the profit we want. So don't ever be lazy to learn
everything about the crypto world, even I have been in the crypto world for more than 5 years and I still haven't stopped learning.

robert.kowalski1510

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I checked on coindatatrend.com and all trends are increasing. So it seems it is becoming to be "relevant" for normal people!

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Quote from: Ebede on January 08, 2022, 05:19:16 PM

Quote from: yhiaali3 on January 08, 2022, 12:06:54 PM

I think the only people who lost interest in Bitcoin are those idiots who look at Bitcoin as just a quick way to get rich, this is a wrong view from the ground up, Bitcoin is not a way to get rich, it is an integrated financial and economic system created to completely replace our outdated financial system and not just to make profits For some dreamers, personally (I'm sure there are many like me) I don't care if the price of Bitcoin goes up or down, but what I care about is the increase in the acceptance of Bitcoin and global adoption to reach a new global financial system, this is the view that we should look at Bitcoin and not the superficial view that it Just a way to make money.

You are correct because if they go into bitcoin and they think that the More you go you get money very fast, and it fail them and them will began to spread bad news of bitcoin, and those people always gives Bitcoin negative in any where they go, but that can not stop Bitcoin up going to reach places where is supposed to reach

When you do mind off.

1. Get rich fast
2. Easy profits
3. Easy to be done
4. Doesnt need much investment

And once reality do slap into your face then this is where frustrations do happen and whats next? You would be having those bad
impressions and would be telling into yourself that Bitcoin is shit or the worst call it some sort of scam which is totally
shit kind of reasoning. haha

Ebede

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Quote from: yhiaali3 on January 08, 2022, 12:06:54 PM

I think the only people who lost interest in Bitcoin are those idiots who look at Bitcoin as just a quick way to get rich, this is a wrong view from the ground up, Bitcoin is not a way to get rich, it is an integrated financial and economic system created to completely replace our outdated financial system and not just to make profits For some dreamers, personally (I'm sure there are many like me) I don't care if the price of Bitcoin goes up or down, but what I care about is the increase in the acceptance of Bitcoin and global adoption to reach a new global financial system, this is the view that we should look at Bitcoin and not the superficial view that it Just a way to make money.

You are correct because if they go into bitcoin and they think that the More you go you get money very fast, and it fail them and them will began to spread bad news of bitcoin, and those people always gives Bitcoin negative in any where they go, but that can not stop Bitcoin up going to reach places where is supposed to reach

yhiaali3

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I think the only people who lost interest in Bitcoin are those idiots who look at Bitcoin as just a quick way to get rich, this is a wrong view from the ground up, Bitcoin is not a way to get rich, it is an integrated financial and economic system created to completely replace our outdated financial system and not just to make profits For some dreamers, personally (I'm sure there are many like me) I don't care if the price of Bitcoin goes up or down, but what I care about is the increase in the acceptance of Bitcoin and global adoption to reach a new global financial system, this is the view that we should look at Bitcoin and not the superficial view that it Just a way to make money.

Renampun

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Quote from: mk4 on January 02, 2022, 04:20:32 AM

BTC is only going to be "irrelevant" for normal people if all they want is a quick pump and dump. On the other hand the smarter "normal" people see the opportunity for wealth growth and will take advantage of BTC. As per usual, the ignorant and lazy normal people are the ones who will be left behind and will complain about wealth inequality on social media.

what you wrote here is very true...

in real life we see that there are two groups of people, one is those who like to complain and don't want to think hard about creating opportunities while the second is those who think hard to create opportunities and become rich, the last group must see Bitcoin as an opportunity that is not can be missed.

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Quote from: A62662 on January 02, 2022, 04:34:42 AM

What people see now recently is that BTC is more or less flatlined. Most people dont play the lottery to win a few bucks, they play to win the jackpot, seems like those days are long gone in Bitcoin. People realise this and can't be bothered any more.

It was never the purpose of Bitcoin to be a get-rich-quick, lottery equivalent without regulation though.
Lucky for you; this gap is now filled by shitcoins and crypto casinos - so if you hope to get rich with $100 in your pocket, there are options.

Personally, I'm super happy Bitcoin "got boring" and "flatlined", since this will long-term make Bitcoin look like a serious option as a currency and not just a small bubble or something way too volatile to be used. Its limited supply and halvings will also make it win over any devaluating currency in the long run, which is already better than most other investments.

MIner1448

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Bitcoin ceases to be interesting for the "ordinary" stratum of the population with an average income, and these are the hamsters from which the whales cut their margins, there will be more and more disappointed hamsters, there will be less and less investment in itcoin for small amounts, and this it really doesn't end well in the pre-line perspective. Bitcoin needs some kind of reboot to attract small investors.

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I don't know where did you hear that from but most of the people I know already knows what bitcoin actually is.
I can think of one reason why you think most people think bitcoin is totally irrelevant.
It is because of the people who trade bitcoin without knowing what it is and just buy and sell to make more money.
This adds in to the already high volatility of bitcoin making it create bigger spikes in the charts.
Another factor is the high price of bitcoin and even a small % amount will create thousands of dollars of change in bitcoin price.
But that does not make bitcoin irrelevant because it is still serving it's purpose of a decentralized P2P payment method.
The speculative nature of bitcoin though is never gonna change and there will always be people who will trade without any knowledge and also people who think bitcoin is irrelevant.

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Quote from: ?? on ??

Quote from: A62662 on January 02, 2022, 04:13:10 AM

Do you have other examples, please share them with the rest of us for a more balanced forum reading experience.

it happens many times . people come and go if they are not really interested with blockchain technology . in the end they came back again when bitcoin went up again. it all depends on people's trust in crypto. the hype in crypto does seem to go up and down. and stable. depends on the hype for "normal" people.

because indeed some of the people who come to the crypto market are because of the hype going on in the market. naturally when they see prices going down will show disbelief and some will leave the market. it is because they are not interested in the technology that is brought or developed. their interest is only in the market and does not understand how the crypto market mechanism works. this could just give rise to the thought of a scam. that's what causes some people to think the bitcoin market is something that doesn't make sense.

o_e_l_e_o

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Quote from: A62662 on January 07, 2022, 03:40:29 PM

Not all that many use it as a currency, hardly anyone really due to high cost and being slow.

Quote from: Fortify on January 07, 2022, 04:03:13 PM

Beyond that, it does not work well in the current form as an instantaneous payment methodf that some people want it to be.

Always the same pattern when the discussion moves to bitcoin as a currency. People who I bet have never actually even tried to used bitcoin as a currency come out and declare that bitcoin doesn't work as a currency and no one uses it as a currency. Meanwhile, there are people like me, who use bitcoin as a currency almost every day at a variety of different merchants. And all these merchants I spend bitcoin with certainly aren't accepting bitcoin because 1 customer (me) spends it there.

Bitcoin works great as a currency. Its fees are lower than that of credit cards, Paypal, etc., it is faster to confirm than every form of fiat transfer except handing over cash, there is no risk to the merchant of receive counterfeit cash or chargebacks, I can pay anyone in the world with no conversion fee, transfer fee, bank fee, exchange fee, etc. There are plenty of people who spend bitcoin as a currency and plenty of merchants who accept it. Claims that "it doesn't work" or "not that many people use it" are provably false.

uneng

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Quote from: A62662 on January 02, 2022, 04:13:10 AM

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.

Something like this is already happening as the interest rates for fixed income investments in USA are being raised by the central bank, so we see small crashes in bitcoin price, but at same time, as we can see, the price never falls too deep, because the average investors or even the biggest ones buyback right after.

This gives us a good hint on how strong and relevant bitcoin is for crypto market's members in general.

And even though the price heavily crashed, it would be the perfect opportunity for many buyers to boost their holdings for cheap price, consequently leading the price up again immediately.

Luqman

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Quote from: Shasha80 on January 07, 2022, 05:04:11 PM

Many newbies don't learn Bitcoin from reliable information, so they misunderstand Bitcoin and don't understand how Bitcoin works. So most newbies
are just in a hurry to invest in Bitcoin and expect instant profits, so they think Bitcoin can make people rich instantly. Yet the reality is not like that,
only people who have good knowledge and experience in crypto world, who will succeed in profiting from Bitcoin.

They may learn it from reliable/trusted information but they didn't understand it properly. The perception of instant profits or easy to be rich in crypto is the main mistake here. They will fail and won't last a long time in crypto if they only focus on that perception. It is not easy to succeed in crypto investment, I myself already experienced too many losses before earning good profits. If the newbies didn't change their perception, they probably will state BTC is boring after losses 2 or 3 times.

Shasha80

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Quote from: 24Kt on January 07, 2022, 04:41:54 PM

Quote from: Coyster on January 07, 2022, 04:13:49 PM

Quote from: A62662 on January 02, 2022, 04:13:10 AM

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I really don't know exactly how Bitcoin is boring to people who claim it is, the only thing I can imagine is that they prolly invested and the price didn't appreciate immediately just as they envisaged, but mind you that Bitcoin isn't a pump and dump coin like some of the altcoins around that investors can be lucky to put their money in and it appreciates asap and gives them good ROI, but it's very risky and only a few are lucky using that strategy. Having said that, Bitcoiners shouldn't even try to convince people to join the Bitcoin network, people should only invest cause they have done their research and find Bitcoin interesting and want to invest in it.

A lot of people do have high expectations on bitcoin. For most newcomers, they thought that this is their savior and way to get riches. However, they realized fast that it is not the case here once they got in. It would really take patience and understanding on what's going on before you can see your profits. I don't know how the OP distinguish people from normal or not. Because if you are a long timer here, you will understand that it would take hard work before you can reap your rewards.

Many newbies don't learn Bitcoin from reliable information, so they misunderstand Bitcoin and don't understand how Bitcoin works. So most newbies
are just in a hurry to invest in Bitcoin and expect instant profits, so they think Bitcoin can make people rich instantly. Yet the reality is not like that,
only people who have good knowledge and experience in crypto world, who will succeed in profiting from Bitcoin. Finally, many newbies panic about
the current bearish trend and blame Bitcoin. Whereas people who experience losses when investing in Bitcoin, because of their own mistakes
by taking the wrong decisions. If we want to succeed in making a profit from Bitcoin, we must first learn about Bitcoin from a trusted source,
after that we can start investing with small capital first, then later it will slowly make us understand how to make a profit from Bitcoin.

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