Topic: Is Bitcoin close to becoming totally irrelevant for most "normal" people?? (Read 524 times)

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.
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.

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.

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.

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.

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.

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

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.

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

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

I'm not sure that Bitcoin ever hit a point where it was relevant for the average person. In the early stages it had the potential to be a useful store of value which could be traded to buy stuff but so many people bought it up on the idea of only selling it at a higher price, that it took the usefulness out of the equation. If you have a finite supply of an item which is meant to be traded, but people start hoarding the item instead of trading it, then you have to consider whether it serves the original purpose and is worth the value that people are assigning to it. I think Bitcoin is great and serves a helpful niche, which seems to be sending over a few hundred dollars at a time across borders in a foreign exchange sort of service - it avoids all sorts of financial fees that get tacked on by middlemen. Beyond that, it does not work well in the current form as an instantaneous payment methodf that some people want it to be.

Bubble is something that could be applied or would be recognizable into those past years but as we do go further on where adoption or foundation becomes more solid or simply with recognition then I don't really

see that we are still on this kind of state.I don't get the point on being totally irrelevant for most normal people because it doesn't really need up that high technical knowledge on dealing with it.

It is just that some people couldn't really just put up some effort on engaging with it that's why they do really make out such sentiments.

Have you actually tried to make a transaction, like in the last 6 months?
The median fee which still includes a lot of people that overpaid and a lot of transactions that are simply huge in size was constantly under $1 and even under 50 cents for the last 3 months, never going above 2$.
And this is the median, transactions with 1sat/b have normally got a confirmation within 2-3 blocks.

Not even going to mention LN, since it's going to trigger somebody ending in 1. 


So, have you checked the google trends for stamps, Aurelian coins, and properties in Kimberley?
Are they boring or not?


No need for years, it's already here.
Metaverse coins and tokens are the new NFT, DeFi is already on its last legs, the hype is over, everybody has abandoned the revolution and moved to the next one, including some coins that have quickly "rebranded" themselves.

Not all that many use it as a currency, hardly anyone really due to high cost and being slow. Its more popular as a hedge against inflation, but then again so is art, gold, old rare stamps, old rare coins, (fairly priced) stocks, property etc.

That should be the case of other risk ratio management there is nothing to do with bitcoin itself.

You are saying the word "you" and "some people in here", who is supposed you that? I believe that is others opinion regarding any price and you can't prohibit someone to do that and it is sure others should not take other guesses as investment advice. I think it would be absurd that to not let some can't say any prediction, whether it realistic or insane prediction on the price, and letting newbies to solely rely on others rather than by themselves misses the point of why bitcoin has some value.

That's all from the perspective of the bubble. See, we tend to get wrapped in what is happening in the crypto bubble that we are in, but the fact of the matter is that lots of interest is coming from people who are/were out of crypto until now. And seeing that that's a bigger percentage of the overall population than in the bubble, I'd say that things are looking up. And as for it losing relevance in our bubble, well, that's just the approaching bear market...

Bitcoin is a currency and not an investment. However, the fact is that bitcoin is unfortunately marketed as an investment by many centralized exchanges across the world. All of them have branded bitcoin as the best investment choice of the decade and trying to convince people to invest in it. Some are even running bitcoin deposit schemes. This is incorrect and can fire back at any moment. So bitcoin is not irrelevant to the normal people, rather the packaging of bitcoin is irrelevant here. It is a currency system and it should have been marketed in the same way. Which is unfortunately not happening! 

The argument about a person buying BTC with less than the price of BTC has been discussed in the forum before which anyone with even just $50 can hold mBTC in his wallet as long as he could to treat it as an investment. He doesn't need to buy 1BTC if he couldn't afford the current 1BTC price. Bitcoin is the most accepted cryptocurrency worldwide, it couldn't be irrelevant that way.

Some argument you may add is that BTC has no use case as they say. But this is also not true. In fact, the very use case of it is that BTC is being used to make more transactions compared to any other coins out there. The way for a cryptocurrency to have a use case is for it to be used in buying and selling.

im saving this quote because O_E_L_E_O loves other networks, seems appropriate to make him aware of his own words used against him when he advertises other networks as "bitcoin 2.0"


in saving this quote too. as this same lover of other networks, has been saying for a while now that bitcoin is not a currency and instead people just treat his favourite other network as the currency utility

its kind of shameful that altnet people want to ruin all the features of bitcoin and limit its functions just to advertise their shiny new other networks

....
as for the topic creators posts
the 50k vs 1k scenario.. average joe does not need to invest $50k to 'get in' he can buy 1k. what you learn is that in bitcoin. in the hard code of the block and raw transaction data. there are no btc. there are only satoshis(sats).
btc is a graphical user interface bundled construct of 100million sats. its just a visual representation of large numbers

you dont need to buy 100,000,000 sats to 'get in' you can buy a few thousand if you want.
nothing stops anyone from buying 2000sats($1) or 2,000,000($1k)

as for market crash scenario.
in shares, a business can end up being valued at a negative balance sheet(debt) and thus end up leaving the market at $0 per share. but bitcoin is a mined asset like gold, which has actual acquisition costs. either from the mining, or buying from the miners or buying from the people that bought from the miners. these acquisition costs keep a underlying value above 0. there will never be a time where it costs minus $10 to have bitcoin. bitcoins are not debt nor potential debt.. it will always be the case where the cost is positive. bitcoin is not like company shares in any way

You start your post by referring to the topic of a person who wants the price of Bitcoin to change 100% or more in one day (or week) - and based on which you conclude that interest in Bitcoin "going down rapidly"? Furthermore, no serious member of this forum will convince anyone to invest their money in any risky things including Bitcoin. After all, anyone who seeks financial advice online is more likely to make a loss sooner or later.


You’re speaking in the plural again, and that’s completely wrong because you think serious people on this forum are promoting Ponzi/multi-level marketing schemes in an effort to make a profit? It is completely irrelevant whether any member of this forum will ever buy even 1 satoshi, the game has completely switched to the playground of big players who buy tens of thousands of BTC every month - do you think anyone on this forum has an impact on all of them?



How do you know that 1% of people are responsible for the price of BTC that we have today, and that by selling their share they would crash the market?
This is the same assumption as the one that has been circulating in the media from the very beginning, which emphasizes the story of what will happen if Satoshi appears and dumps its alleged 1 million BTC on the market - which is about 5% of max supply. A wet dream of many who would like to reset everything to 0 and then buy as much as they can - only all those poor souls are not aware that Bitcoin would never be worth even 10% of what it is worth today if that happened.

Always the same story with the newbies.

Bitcoin was created. People got on board. Then altcoins came along. Lots of people jumped ship. Bitcoin is old, boring, outdated. Altcoins are new, exciting, shiny! Couple of years later, 99% of these altcoins have died, lots of people have lost money, and they either rage quit the space altogether or come back to bitcoin.

Then ICOs came along. The next bitcoin! The bitcoin killer! The flippening! These are the future! People jump to ICOs. A year or two later, 99% of these ICOs have died, lots of people have lost money, and they slink back to bitcoin.

Then IPOs, IEOs, ITOs came along. The next big thing! Bitcoin can't keep up! Buy, buy, buy! A year or two later, dead, lost money, people come back to bitcoin.

Now DeFi and NFTs are on the scene. Better than banks! Better than bitcoin! Better than sliced bread! Buy this terrible overpriced picture of a monkey! This is definitely the future this time, we promise! Send us your money!

I'll see you in a few years for the next nonsense craze which is new, exciting, shiny, and with which lots of people will lose lots of money. And throughout all of this, what's the one constant? Bitcoin.

If that makes bitcoin boring for you, then feel free to go and lose your money on some scam instead.

The people who bought it at 1k was trying to pump it more so they wants other people to buy it at higher price, but how if the bitcoin price becomes 500k in the future years, the people who bought it at 50k is better than the people who missed the chance because they think the price is already high and won
t going up anymore.
In the ends the winner is the early player and who holds till the end, the more profits they will get and this works on the real quality products.

if someone says bitcoin is almost irrelevant for normal people, in my personal opinion it's a very wrong argument, the argument of lazy people and the argument of impatient people, wanting to find wealth quickly and quickly, if you want wealth in the blink of an eye better you don't need to enter the world of bitcoin, bitcoin was created not to get rich in the near future, but bitcoin gives us the freedom and opportunity to make it easier for us in all aspects, without depending on others about the assets we have, the key to entering bitcoin is patience, and always prepare our mental to be strong to face criticism and blasphemy..

I mean, it did take years for 1k to go to 50k, it'd be pretty dumb to expect something like that to happen in days or months. See that's the problem mindset, people are in it to make quick bucks when well, it hasn't exactly been quick for early investors. All risks come with benefits, investing early means you're just able to profit earlier than others, that's it. Probably stop being narrow-minded about the future of Bitcoin and look at it from a wider scale. Now if you can't afford to have a wider view, it's either the money you're investing is one that you can't afford to lose (and in that case, I'd just say get some money you CAN afford to lose, then invest), or you're just looking for a quick buck, now can't help you with the latter one.

Sure, but most "dreamers" aren't really here for best case scenario 2X, they are here for 100x or more, and they are not going to get that from Bitcoin buying at 50K, they are probably much more likely to lose money buying at 50K than to 2X.
For that matter you might just as well buy stocks if your golden target is 2X.

Some people in here are trying to feed that get rich pipedream buying BTC, the train left the station, the newbies weren't on it.

What I would love to see in here is some realism, that would be a nice change. Some are more realistic than others, but too many are trying to feed the pipedream.

Of course, you can't compare buying bitcoin at $1k to buying it at $50k.

But what if the price goes to $100k? so that potential is there to double your money, it's that you need to have the mental patience to wait for the price to grow. Maybe it will take months or years, but the potential is there.

And as majority said, irrelevant? you mean ordinary investors will shift to stocks or any other investment platform for that matter? I doubt it, bitcoin will remain relevant as it is one of the best assets, just ask wall streets to ordinary and average joe, everyone is talking about it.

I see the opposite, more and more people are talking about it and asking us who use it / know about it for more information.
Keep in mind most of threads here are from people who either are active users or people who support BTC.
HOWEVER, there are a lot of other posts from people who are either anti BTC or have their own agenda, so posts here are not an indication of the outside world.

But with more ETFs trying to be listed, and more and more larger players (block, Master Card, etc.) getting into it I actually see the opposite and that more people are getting into it.

-Dave

What do you mean that bitcoin is boring? Don't expect bitcoin to pump or dump all the time. Many serious investors are afraid of bitcoin volatility, rather if bitcoin is stable and has less volatility, it will be good for bitcoin holders.
Also, you need a lot of knowledge about bitcoins as you are comparing bitcoins with a MLM Scheme.

How do you define *irrelevant*?
Bitcoins honestly is not even close to becoming irrelevant in any case. People still are buying during the times of lows and people are still investing. Maybe it's *irrelevant* for people who just focuses on fiat and nothing else, which inturn means that for them other things like *stocks* *shares* *investments* are irrelevant as well, not just bitcoins. Therefore for that kind of person their interest in Bitcoin might or might not be relevant in the first place to consider. For people who don't really care about technologies, for them it's completely understandable to not have any questions regarding the ease of use, ofc they would try and accumulate more traditional form of investments. The term *boring* is personal for every person, but is it that bad? Doesn't it just mean that it's becoming as common as the fiat itself?

Most likely they won't bother because they think they are already late to invest which was not the case because the price has some good history record where it will gonna further increase just after the halving period which will gonna occur a few more years from now. So, if people think and ponder about the situation, they know the real fact about it and they will gonna get profit if they can hold their bitcoin and think about it as a long term investment.

Bitcoin isn't supposed to be boring or entertaining.
People will always find something to complain about.
The Bitcoin price isn't moving-some people say that Bitcoin is boring.
The Bitcoin price is dropping-some people say that Bitcoin will die soon.
The Bitcoin price is increasing-some people say "This is a speculative asset,ponzi scheme,scam,bla bla bla..."
The interest of "normal people" towards Bitcoin takes the form of waves-it can go up and down.
Currently,the interest towards Bitcoin is down,but that doesn't mean it won't go up at some point(a new bullish wave).
The Bitcoin HODLers aren't trying to convince anyone to buy BTC.
Using a low quality shitpost about Bitcoin being boring to prove your point is kinda lame.

That thread is one of the top recent threads, because a lot of people disagree and respond and tell OP, why Bitcoin isn't boring.

Yes, but the story goes on. If the 'big money' comes in, then they will come with cranes.

Very well said mate, when we say people it refers to us, and I believe the majority of the people would not really get into bitcoin as only a few really thought of investment and see it as an opportunity for growing their wealth in the future. A smarter investor would also consider it as a hedge of their money from high inflation,  while the majority even have no idea of the economic status of their own country.

The thing with cryptos is that they will not please everyone and they will always be prone to public opinions!


Nice example but the problem here is its easier for someone to invest 1000 dollars than someone trying to invest 50,000 dollars for one bitcoin which is why we have less hodlers coming from today's investors as they are cashing out fast than what use to happen.


Classic example i like this one

People who bought at 1K had more risk reward ratio than who are buying it at 50K, I am talking as an investor. Once an asset is established and recognized by the people then it has impossibility to reach zero so hopefully the price is going to be higher and higher but its your decision whether you want to buy and hold it until it reaches 100K or buy a land and wait for 20 years to get 50% returns because mote safer the investment the lesser it will make returns.

I think it's just you. Haha.

Let me put it to you as a newcomer in 2016 (my experience and okay, maybe I might not be considered a normal person but I definitely see myself as a regular Joe) -- rural middle class upbringing, economic migrant, Generation X.

Came across Bitcoin in 2013 for the first time. Even had to conduct minor investigations into it for a story I was tasked to do for it. Thought it was so-so, and definitely thought it was irrelevant to me then. This was a boom cycle too (hence the media interest), but even that actually worked against me wanting to find out more.

3 years later, I did dig into it a bit more for personal interest. Understood finally the things that made it special -- non-centralised financial system, pretty good implementation of cryptography, public ledger, etc etc. Price-wise, it was struggling to recover from the last ATH, though no one knew another rally was coming in the following year.

While I was knee deep into BTC, I already saw all those "Bitcoin is dead, boring" or "ETH if Flippening BTC" or "Blockchain not Bitcoin" threads posted, even more than today I think. ICO frenzy was about to happen too.

BTC couldn't do Dapps, couldn't do sidechains, too slow to develop, PoW is dead, blah blah blah. So yeah, I think BTC has always been "totally irrelevant" for most people who come into crypto. But not because these are normal people... but because the majority of newcomers aren't looking to use crypto, but to make a quick buck.

Speculators and crypto buyers aren't regular users.

That's all nocoiner talk man. Do you have any idea how many times bitcoin died last year? I forgot the exact number but it was 20 or 30 something. Bitcoin already made it this far. When it was at $1k, $20k looked impossible and here we are at $50k. Does $500k look impossible to you? Then fine. Good luck with whatever you do. Maybe you'll come back and buy it at $500k and hope for $5m. And guess what, Bitcoin will go even beyond $5m. I'd say $500m would be a realistic price for one bitcoin.

Just liston to Michael Saylor and have faith in satoshi and the white paper. God bless.

I think this is just another version of saying that Bitcoin is dead! Yes, we can never expect Bitcoin to be exciting all the time...there will always be ups and downs along the way and expecting the other way around is insanity. What is good with Bitcoin is that it is capable of resurrecting itself after so many predictions of its demise. You see when Bitcoin is going up, everybody is proclaiming its virtues and its features and the many things in between but when the market can be in the humdrum then there is that possibility of people questioning it. That is the kind of attitude affecting retail investors and one of the reasons why the winter happened in 2018 - good thing that now we already have institutional investors in the mix.

Boring for those who were expecting that their little investment would have made them rich by now, that is those who saw it as a get rich quick scheme, boring for those who are impatient and have no real discipline to wait and not tamper with their portfolio, boring for those with no real knowledge of bitcoin and crypto. They say time will tell, and it also applies to crypto, many of the people who make so much noise about bitcoin now without any real knowledge, noise just to feel among and be counted as those who know something will soon get tired of playing themselves, often times from the mouth of such individuals you hear statements like this "btc is boring".

Did you possibly conclude this due to the recent decrease? It's reasonable for people to be discouraged to continue when they see their asset losing 30% of its market value. Allow me to tell you to see things objectively and not in terms of trends.

And has some decent responses.

---

---

If people want to have a profit, then bitcoin may not be what they should be looking for. It is nowhere stated that you'll get rich, the only thing said is that it's a currency. Investors and traders obviously want to confuse and manipulate, but that happens with every asset they have interested in.

The price isn't stable, it still makes some huge changes (for a currency), but it's definitely more stable in terms of time due to the reason you mention in your second example. It's also a lot more stable than some other shitcoins.

I think back in the day, a quick pump and dump of BTC when it was say $100-$1000 range, was what brought in most people in the first place, that and it was kind of new, cool and relatively cheap(ish).

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.

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.

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'll give you a few examples. The first example is kind of funny. The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter. They talk about all the money they made and now its your turn to make money. Only thing is 50k isn't the same as below 1K.
Another thing is that it's a lot harder for the market to lift 50K than 1K, try to lift 50kg and less than 1kg and see what is easier, the answer probably wont surprise you all that much.

The second example is about scale and the law of high numbers;

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.

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