Topic: People are extremely biased towards bitcoin. - page 5. (Read 805 times)
I agree with you OP, and most certainly it is true that people are extremely biased when it comes to bitcoin especially with the transaction fees that's soaring high. And most people are just buying and selling bitcoin because it is "hot" now but not really are aiming for its real usage; but that's just the sad part of these cryptocurrencies and because it is overly hyped now people are just selling houses and cars and whatnot just to buy bitcoin so they could make money out of it.
Yes it is true up to some extent people are very sensitive towards bitcoin and i hope that in the future may we become more biased towards bitcoin it is the people preference and need of this currency. the good thing of bitcoin is the ready and steady income source of income for the bitcoin users and when a person knows that it is the motive of many people then the biasses starts. But it is not the bad thing people are moving to the modern era and we can be the successful users of bitcoin in the future.
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.
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.
I don't think that people are extremely biased towards bitcoin, they just believe in the future of bitcoin even there are some disadvantages like high transaction fees. They see that they can earn a lot of profit from bitcoin even in the future because they know it will continue to rise.
I don’t accuse anyone of such manner as FUD if the reason is right, even I always depend bitcoin and it’s disadvantages at this moment. But I gonna ask anyone, if the one or this every individual will stop depending and give up on bitcoin what will happen? Do you think it will stand to go higher at this moment, we’re the one doing the job and we all benefit from it. Even those who keep making negative post about it.
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.
No matter the situation on bitcoin it is on bitcoin alone if it is not the user's use is the problem probably change coin exchange it or sold. The demand is the one that criticizes more often. We average users have slow impact on bitcoin but on the other side that invests more than millions on bitcoin plays a huge role in it so it is not our problem if bitcoin losses value it is like life sometimes on top sometimes not.Yes its true. As an avid supporters of bitcoin of course they keep on defending it no matter what. We can't deny the fact that bitcoin encounter some problem due to its high rate of fees. And we, as a user of bitcoin we have nothing to do with it. Its only bitcoin itself can solve its problem. We are only here to support bitcoin along the way.
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.
While arguing the fact that Bitcoin fees is rising, have people looked the other aspect? The second best cryptocurrency (can by argued) is Ethereum and transaction fees of ETH lies between $1-8.5 depending upon GAS limit just at this level of adoption. Think if it reaches at the level of BTC adoption, what would be the fees! Same is the case with other coins, their fees depend upon their spread.
The fees of Bitcoin is high because it is most spread cryptocurrency and huge number of transactions are made daily. I doubt if any other coin used at such spread can deliver transaction at relatively lower fees. More or less every coin is Scalability prone.
As much as the transaction fees are a pain for bitcoin users, the lack of adoption is also a problem with the use of alts.
I think that demand won't eventually fade away. Perhaps the hype for it will, but while people are still getting profit from bitcoin there will always be demand. This demand may also bring the miners and developers to find solutions to these transaction fees. They would have to conform to the users eventually and they already profited more than enough. Otherwise, the bitcoin users would have an outrage. Maybe this can't go on for long.
That's a vicious cycle, demand relies on bitcoin giving profit and the bitcoin price relies on demand? It doesn't seem like a good thing to me if the price only relies on demand and not good news, like having less fees or being adopted somewhere, no one seems to care about that now, long ago if steam were to announce they would stop using bitcoins people would get worried, now? No one gives a fuck.
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.
But what did you expect? You are going to find some of the most convinced people about bitcoin here on the forum and reddit, it is like trying to talk about the limitations of gold in a forum about gold, it is obvious they are not going to be very open to criticism even if what you are saying is completely true, also since those people have a good knowledge about bitcoin then most likely they know that and they are not interested in hearing it again.Actually I'm pretty convinced is the opposite and I'm not claiming to be an expert whatsoever but the majority of people in this forum and reddit don't seem to know much about bitcoin in general, only the few things that everyone says. So I doubt they have a good knowledge about bitcoin, they are just blindly buying it expecting to be rich.
People are lazy and risk averse. They don't want to invest in bitcoin, neither mentally nor financially, but also don't want to miss an opportunity. This creates an uncomfortable cognitive dissonance, which is quickly resolved by convincing oneself by various means, that bitcoin can't possibly succeed and is a waste of time and money.
I too have been a strong supporter of bitcoin in the last few years and been depending bitcoin in and out of the forum, but we have to face the truth that there is really a huge problem that has been going on in the past few days, i hope they better do something fast on putting the segwit or lightning network fast so that transaction will be normal again.
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.
No matter the situation on bitcoin it is on bitcoin alone if it is not the user's use is the problem probably change coin exchange it or sold. The demand is the one that criticizes more often. We average users have slow impact on bitcoin but on the other side that invests more than millions on bitcoin plays a huge role in it so it is not our problem if bitcoin losses value it is like life sometimes on top sometimes not. 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.
While arguing the fact that Bitcoin fees is rising, have people looked the other aspect? The second best cryptocurrency (can by argued) is Ethereum and transaction fees of ETH lies between $1-8.5 depending upon GAS limit just at this level of adoption. Think if it reaches at the level of BTC adoption, what would be the fees! Same is the case with other coins, their fees depend upon their spread.
The fees of Bitcoin is high because it is most spread cryptocurrency and huge number of transactions are made daily. I doubt if any other coin used at such spread can deliver transaction at relatively lower fees. More or less every coin is Scalability prone.
As much as the transaction fees are a pain for bitcoin users, the lack of adoption is also a problem with the use of alts.
I think that demand won't eventually fade away. Perhaps the hype for it will, but while people are still getting profit from bitcoin there will always be demand. This demand may also bring the miners and developers to find solutions to these transaction fees. They would have to conform to the users eventually and they already profited more than enough. Otherwise, the bitcoin users would have an outrage. Maybe this can't go on for long.
Ethereum and its ecosystem deserve more attention
as the increasing taxes on transaction and deferred confirmation time is unquestionably a genuine concern. The Bitcoin Cash pump and Coinbase insider exchanging is at most a backhanded assault, pump is a piece of the unregulated free crypto advertise, expected, yet it was a deceptive conduct from a noteworthy trade, yet calling everything an assault is simply nonsensical. At this moment the [Suspicious link removed]ange has a noteworthy issue and it may deteriorate until the point that LN is actualized. For now I think the main arrangement is to build Segwit appropriation by utilizing Segwit upheld benefits.
People knew that BCH was going to be added to coinbase. You had some news that they built their system to enable easy integration of new coins. Roger Ver confirmed in the comment of his livestream that it was going to be added this year there. Some people saw indicators because they saw in coinabse API that there's BCH. Ofc there was some obvious pump before it was added, last time the litecoin was added price of LTC pumped as well, but it was kinda different. Coinbase said they were going to investigate in this pump before they said about BCH, but let's be honest they don't care much they earn from people trading thats all. They've done their job by sending emails to users to invest rationally because cryptos are risk investment so if something goes downhill they got that covered. They are business like many other and are doing their job, to accumulate more wealth.
LN is currently being tested on testnet, so if you want to check it out you can with testent + you can get "free" coins to play with on there. Thing is that LN will allow us is fast payments like instant which is more suitable for businesses in my opinion. If you wanted to buy something at grocery store you want to pay for items and go home. With blocks having like 10mins time before transaction gets confirmed, if we say network is free - there are no to many transactions in mempool, it's unacceptable for stores to accept it as means of payment because if they accept not confirmed transactions you could double spend. Other way around is to wait for at least 1 confirmation. LN will not only give power to miners. There are benefits and downsides to LN ofc, sadly it will still take sometime until we see massive use of LN on main bitcoin network because if you are dealing with money you need to make sure that everything works as planned, you don't want to make people angry.
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.
Same thing why roger ver turned to bitcoin cash. I think segwit2x not pushing through last november was a big blow to btc since it could've negated some issues btc transactions are having right now. Though it's still bitcoin for me. I don't know, first love never die as they say
Thing I don't like BCH for is that people there mostly sold their BTC and just want to lure all of us there, at least my perception of how things work. If they lure enough people they get rich. There are a lot of alternatives BTC and BCH are not the only one. We are just spreading hate insted to sit down and think about how we can make it better. I mean if any of this goes global, like mass adoption most of alts, if not all will have to scale eventualy on one way or other.
I don't really like Roger much, I think he is really great person tho, but every time he talks he is negative to BTC , to other BTC forks and even alts and talks like BCH is real thing. It is expected since most of his holdings are in BCH but the way that he present it is killing me. Don't get me wrong I don't hate BCH have my holdings there as well as in bitcoin and some other alts. Problem is that when you say Bitcoin to people they have prob heard of it, but if you say Litecoin or Ethereum not many will know what is that.
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.
Same thing why roger ver turned to bitcoin cash. I think segwit2x not pushing through last november was a big blow to btc since it could've negated some issues btc transactions are having right now. Though it's still bitcoin for me. I don't know, first love never die as they say
as the increasing taxes on transaction and deferred confirmation time is unquestionably a genuine concern. The Bitcoin Cash pump and Coinbase insider exchanging is at most a backhanded assault, pump is a piece of the unregulated free crypto advertise, expected, yet it was a deceptive conduct from a noteworthy trade, yet calling everything an assault is simply nonsensical. At this moment the Bitcoin arrange has a noteworthy issue and it may deteriorate until the point that LN is actualized. For now I think the main arrangement is to build Segwit appropriation by utilizing Segwit upheld benefits.
People are extremely biased towards bitcoin for many reasons. Those that still holds bitcoin with them would continuously market how good it is and how it even pioneered the cryto currencies nowadays which is true. Bitcoin has been and will always be successful as they always believe because of those people who never let it go.
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.
It is obvious that one of the major hurdles of bitcoin nowadays is the high transaction fee that is why others think twice when investing because when they see the transaction fee and they are only investing a small amount then it seems not worth it because the case may be that they are paying higher transaction fee than the amount they want to invest. I hope that sooner there would be a solution to this problem because it may be the cause why people are shifting now to other coins instead of bitcoin and maybe the cause why bitcoin would not be the king of cryptocurrencies later on.
People who defend it are probably people who still hold it .
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.
It is obvious that one of the major hurdles of bitcoin nowadays is the high transaction fee that is why others think twice when investing because when they see the transaction fee and they are only investing a small amount then it seems not worth it because the case may be that they are paying higher transaction fee than the amount they want to invest. I hope that sooner there would be a solution to this problem because it may be the cause why people are shifting now to other coins instead of bitcoin and maybe the cause why bitcoin would not be the king of cryptocurrencies later on.
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.
Well if the 2mb hard fork happens then the fees should get resolved in the short term but I agree with you that people refuse to see the problems associated with bitcoin but that is because they are so heavily invested they don't want to believe it isn't anything but perfect.
Honestly I expect alts to eventually take over the lead but bitcoin does at least have further scalability coming on the way, a segwit wallet is soon coming out and it is being used more frequently now, 2 mb blocks should b here soon and that hopefully will give enough time for lightning to be deployed.
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