People are extremely biased towards bitcoin. - page 4.

futile-resistance

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Quote from: Mometaskers on December 21, 2017, 01:02:34 PM

No doubt bitcoin really have problems. Almost everyone complains about the congestion and the accompanying increase of the "acceptable" transaction fee. People should be able to discern legit criticisms. Sure, if you like you may think of the recent dip as an attack from BCH supporters but if the talk is about scaling then we have to accept that it is currently really having difficulties.

Am I optimistic about the price? Still yes. About bitcoin becoming an easy mode of exchange? Not so much anymore.

Yes, there are also some drawbacks of bitcoin but it also is having unlimited benefits and properties. Nothing in the world can be perfect, everything have both advantages and disadvantages. I agree some people are facing with bitcoin but also many are using it very comfortably, we should look to a thing from every side before giving a review about it. I think bitcoin is the best in all and it perform its best in everything.

syaripudin

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the number of network traffic and the bustle of the server this is causing some puncture from bitcoin slightly disturbed I think hard fork is one way to reduce the traffic of the current transaction of course will continue because of course there will be many investors who make large profits at a time when bitcoin prices are high. and for the problem of considerable transaction costs this of course can happen because the price of bitcoin is high enough. so the costs for transactions will tend to increase this high because some want to take advantage of transaction costs on bitcoin. and I think this problem will be resolved once it has been a segment for a repair that aims to get the network back up again correctly.

GloriousDonkey52

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Yeah, I think we cannot deny that problem anymore. I think an immediate solutions to this problem should be done or else investors will fade in bitcoin.

wantjokull

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Yes this issue of fees is taking a lot of time to get resolved in first place. The bitcoin as we know it is the best currency over the market and nothing is gonna kill it anytime soon. The bitcoins had many problems earlier too but somehow peoples have started trusting it a lot and this is what causing the big investment into it. This ultimately gives lot of freedom to bitcoin and its market capitalisation keeps moving further only. Bitcoin have been the thing of bestsellers trades and this tag will never go off if bitcoin's user base is strong like toady. Not to forget that when the scale up issue will get resolved this will bring the fire of investment into it and thus once more bitcoin will make giant leap.

Peoples will be always biased about it because they don't think about it in the long terms and just conclude the whole story with insufficient data or lack of reality. Bitcoin is however will go trendy sooner than we think.

cr_liev

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Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

ohmygod, eventually the sober thought! I really don't understand all the hype around bitcoin. The fact it was the first only means the technology needs to be enchanced every time to be able to compete... Will it in the nearest future, when new and more advanced blockchains are developed?

player514

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Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

You're running into this because you're on bitcointalk. Of course people on this forum would be biased towards Bitcoin. You'll also probably run into people who are trying to maximize their profits because they know that bad news tanks the price while good news can raise it. So, if they minimize the bad news and push out those who are pessimistic/realistic, then maybe they'll make more money.

I do believe that Bitcoin isn't the best solution. However, I also believe that it's the original solution and that just that presence will give it some value as well.

shaun98

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I totally agree. The crypto community in general is filled with toxic people who are just here to make money, and not support the idea of bitcoin and such. Some also blatantly defend coins/tokens they support without providing a structured argument. This needs to change in order for crypto to actually face mass adoption and survive through the times.

perfect999

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Quote from: iram1011 on December 21, 2017, 01:38:50 PM

Quote from: Lancusters on December 21, 2017, 01:30:32 PM

Quote from: iram1011 on December 21, 2017, 01:11:10 PM

Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

I see LN as the only viable option to fix tx fee and time. Scalability issue is indeed at heights and these shit forks are only increasing the problem.

But I want to talk about the utility here. If you need a coin with utility as currency for everyday transaction, then even if fees goes down significantly, no one is going to use BTC for that because of the inbuilt deflation. As supply is limited, adoption is increasing and hence, price will rise. BTC has become a ""store of value"" than a currency.

For currency purpose we need a currency with little or no deflation like XRP with large supply. Bitcoin can never become that with 21 million supply. A little inflation is required for building a currency that people will actually use.

Why do we need inflation? You know what national banks are in collusion with the government use this mechanism? It is attempt for your account to close holes in the economy. It seems to me that the government should manage the economy so that we did not pay for their mistakes. That is why bitcoin has become so popular.

Why people have the mentality of inflation being a negative thing? Huge inflation is negative. But we need minor inflation.

""Inflation drives spending""

Suppose you have deflationary currency with which you can buy a car. But if you hold it for some months, you can buy 2 car. What will you do? Will you spend it? No. Same is the case with BTC.

In my country most people are unaware of inflation but they pay for everything without any queries and the officials also tell lie about the inflation rate. I think that bitcoin investment is only thing that keep people safe and secure about their future because of no involvement of governments. If the government imposes direct tax on bitcoin then investors will not earn so much money from their investment in bitcoin.

Bardman

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Also all the bad and scam exchanges out there. Obviously this is not bitcoins fault but it's a big issue that stops a lot of big investments from happening simply because exchanges can't handle it. Even the ''best'' ones have support problems and they are slow when it comes to cashing out. Bittrex recently fucked up and blocked/disabled an insane amount of accounts for no reason and they didn't even apologize. Same problems happening on cex.io and even bitstamp. We need a solution to this soon, we need professional exchanges.

farwellbit

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Quote from: Magister Magus on December 21, 2017, 01:33:05 PM

Inflation is an hidden taxation, and governments always used it deliberatelly in this sense.
Whit bitcoin this is not possible, but who knows what a politician can invent to fraud the citizens?

Yeah politicians can do anything for their well. They may search those who have invested in bitcoin and impose tax on their profit. But till date there is nothing like that and I am pretty sure that the government will not involve in bitcoin for the next few years. Bitcoin is decentralize and the government has nothing to do with it but may as you told that some people get involve for their financial benefits.

rickadone

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Quote from: Bardman on December 21, 2017, 10:37:09 AM

Quote from: Wipro on December 21, 2017, 10:31:40 AM

Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

Transaction fees bothers most of the people especially small fund earning cannot able to exchange their bitcoins in the needy time. But you will find bitcoin transaction fees recovered with the effect of upcoming fork.
Most of the trollers will be always goes on pulling down and give information like it is been used on buying and etc.

That's another issue to be honest, all these forks are getting out of hand. Also people still think that bitcoin is a currency but who uses bitcoin as a currency right now? Even the developers that maintain bitcoin's code right now think bitcoin should be treated as a store of value not as a payment option.

It is really a big issue and everyone just seem to be quiet about it and huge supporters will blast you if you yell the truth. I have made a transaction on bitcoin now and it has been five days even after paying a huge amount of bitcoin with a huge equivalence in dollars to get it confirmed.

It sucks really when I can just use another currency to get this done faster. If this goes on, things can change and it is just a matter of time before we started seeing another digital currency leading the way.

sana54210

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Quote from: pitiflin on December 21, 2017, 10:55:14 AM

Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

Why not think of this, the reason for the rise in the fee is because of the price rise, miners want profit, bitcoin cash seems better to mine, so the reasons for the fee rise. The fees are high but so are the prices, can people not compensate and deal with the fee issue for now? Bitcoin may have competition but at the end the support for bitcoin is more than the support of any other coin and bitcoin will win easily.

Yes, that may be the reason for the price hike, but let's face it, bitcoin itself have some problems and issues that should be solved. If the scaling issue is solved, we will not get to keep seeing some of these things happening or see some miners holding us to ransom and doing whatever shitty thing they are doing.

It is crazy honestly, and bitcoin cash may seem to be an alternative but we all know it is just a manipulated one. However, support can die for anything if people end up not seeing what they really want in something.

naidray

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Quote from: TheCoinGrabber on December 21, 2017, 11:07:28 AM

I'm no tech nerd so I don't know how to solve the tx backlogs but it's really the forks that bother me. Every time I see it on the news I'd go "God, is this the end?". Does slowly chip away at my confidence in BTC.

That sucks too and it is concerning that the community is really not even helping matters with all those forks. Sometimes, I get so scared wishing and hoping that the end is not actually near for bitcoin with the way things are going. Forks every day and even the bullshit ones, transactions getting stuck for days even with high transaction fees and things are really beginning to get out of hand. This is not the bitcoin we want, let's be honest.

It is not about supporting something alone, but we really have to work and criticize the system when things are not just right. Honestly it is infuriating when no one is really talking about this. We are seeing it already now and we can see that so many people are already getting to see how things can really end up in the long run if some things are not just taken care of.

Samplex

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Quote from: Golftech on December 22, 2017, 11:08:29 AM

Quote from: merchantofzeny on December 22, 2017, 09:44:52 AM

It's down to freakin $12,000 now. People are probably rushing to get rid of their bitcoins.

True, it's no longer as efficient because of technical issues but it's the "gateway" crypto for most people. If it collapses quickly, it may bring down cryptos with it as people start staying away after losing money.

people who doesn't know how this system works will lose a lots of money as they will be in panic after seeing the price fell almost 50% from its peak,
but I think its not biased at all if we as believers still relied and believe that bitcoin will bounce back and new ath will be hit maybe first quarter of
next year.

this is true, because many people enter the arena of bitcoin and cryptocurrency in hope to get quick rich, they want to find gold rush. Thing is its hard to believe in something even harder at beginning of it (specially for people that were around from like 2010-2013 or so. IT has nothing to do with the price, we are building the better world here ladies and gentleman that other people haven't seen and some barley understand. This is not about only bitcoin and how money works, this is about our privacy, our right as human beings to say NO to other things and to build up the better decentralized world out there which will be safer, be more private. We believe in software not in 3rd party/middleman in banks or some multi national corporations to guide us.

Quote from: btcprospecter on December 22, 2017, 11:22:59 AM

Bitcoin may not be able to compete with other coins as time progresses and the fees are a problem. Many are biased with bitcoin because when they first hear of crypto they hear bitcoin and usually haven't read much about it and all the want to hear is the profit to be mare or has been made through bitcoin and crypto currency.

Many people, including myself, first hear about bitcoin as it was the first one in the line out there. Plus there are many news about it and it dominates the situation as of how it is today. You don't explain to other people what ethereum or litecoin or any other alt is. You tell explain them by comparing it to BITCOIN. It is the first one out there and I do believe that we need to save it to be dominant in it's space in future, at least we own that to Satoshi Nakamoto.

Bardman

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Quote from: Fatanut on December 22, 2017, 10:55:42 AM

Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

I didn't even realize that people respond with "FUD" and "another attack on bitcoin!!" to people who are seriously asking about bitcoin. I don't know where you found those things but I guess you ran across some trolls and thought that was the case to everyone in here. (And I guess you can say that I'm saying that you're wrong AGAIN but..) A lot of people here are actually open about those things and aren't blinded by some light of the amount of money they have been earning from bitcoin. I wouldn't say extremely biased and I would not even say biased at all just because people don't really have to defend bitcoin since they are getting zero benefits from it. It's not like if they were able to persuade someone to buy bitcoin, they are going to get any money from it. I think it's only the beginners who are trying so hard to defend bitcoin and might even go biased about it just to make bitcoin look good. The bitcoin users that are making money from bitcoin for a while now have already realized that convincing other people to think differently about bitcoin is just a waste of time and they could have used that time to make money.

Reddit is literally filled with these posts and they get hundreds of comments and upvotes. You can go and check it right now, 90% of posts are just memes about holding and whenever anyone in the comments talks about important issues they just insult him/her. https://www.reddit.com/r/Bitcoin/search?q=fud&restrict_sr=on&t=week

And I do agree that there is some FUD but a lot of people are genuinely concerned about the problems and not just spreading fud.

btcprospecter

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Bitcoin may not be able to compete with other coins as time progresses and the fees are a problem. Many are biased with bitcoin because when they first hear of crypto they hear bitcoin and usually haven't read much about it and all the want to hear is the profit to be mare or has been made through bitcoin and crypto currency.

Sithara007

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Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

Insanely high fees is definitely a major issue, no matter how much the core developers and their retarded followers like to sweep it under the carpet. Many of my transactions have been stuck for the past few weeks and I am getting frustrated. I hate to say this, but if these people behave in such an arrogant way, then I will be ending my four years of association with Bitcoin and moving to Bitcoin Cash.

Golftech

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Quote from: merchantofzeny on December 22, 2017, 09:44:52 AM

It's down to freakin $12,000 now. People are probably rushing to get rid of their bitcoins.

True, it's no longer as efficient because of technical issues but it's the "gateway" crypto for most people. If it collapses quickly, it may bring down cryptos with it as people start staying away after losing money.

people who doesn't know how this system works will lose a lots of money as they will be in panic after seeing the price fell almost 50% from its peak,
but I think its not biased at all if we as believers still relied and believe that bitcoin will bounce back and new ath will be hit maybe first quarter of
next year.

nl247

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Quote from: Wipro on December 21, 2017, 10:31:40 AM

Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

Transaction fees bothers most of the people especially small fund earning cannot able to exchange their bitcoins in the needy time. But you will find bitcoin transaction fees recovered with the effect of upcoming fork.
Most of the trollers will be always goes on pulling down and give information like it is been used on buying and etc.

It is extremely bothering bro and if the scaling issue is dragged, bitcoin will end up losing its taste and once other coins start showing practical usage, legacy will not be there to sustain bitcoin from being thrown out of the show. Bitcoin issue is becoming more like Nokia right now. They keep using the strong tag on their phones and refusing to adapt to the main thing people need, probably out of pride or just stupidity and now the likes of Apple, Samsung and co, threw them out and now trying to gain relevance back. If care is not taken, the same fate awaits bitcoin.

Fatanut

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Quote from: Bardman on December 21, 2017, 10:12:47 AM

Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.

I didn't even realize that people respond with "FUD" and "another attack on bitcoin!!" to people who are seriously asking about bitcoin. I don't know where you found those things but I guess you ran across some trolls and thought that was the case to everyone in here. (And I guess you can say that I'm saying that you're wrong AGAIN but..) A lot of people here are actually open about those things and aren't blinded by some light of the amount of money they have been earning from bitcoin. I wouldn't say extremely biased and I would not even say biased at all just because people don't really have to defend bitcoin since they are getting zero benefits from it. It's not like if they were able to persuade someone to buy bitcoin, they are going to get any money from it. I think it's only the beginners who are trying so hard to defend bitcoin and might even go biased about it just to make bitcoin look good. The bitcoin users that are making money from bitcoin for a while now have already realized that convincing other people to think differently about bitcoin is just a waste of time and they could have used that time to make money.

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