Poll: In your opinion is this the end for Bitcoin/Cryptocurrency? - page 2.

Henrobakkara

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

So we have seen Cryptocurrency hit with many huge scams, come under increased scrutiny and regulation, as well as being the subject of environmental concerns.

As of late, Bitcoin is trading at the lowest levels I've seen it trade in quite some time.

So I made this poll to gage the latest opinions of the users here.

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

If you don't believe in Cryptocurrency or Bitcoin in general you might be thinking along the line that Bitcoin probably is coming to an end because it has -74.29% from its ATH to the lowest of about $17k, meanwhile, that was just about the same level of drop the market experienced from the dip of June 2019 to march 2020 of approx -72.66% and the last major bear market of 2017 to 2018 was approx -83.82%
All other concerns have always been around Bitcoin from scams, scrutinization, and regulations even the environmental issues, and those have never stopped Bitcoin on its track and still wouldn't.

Mauser

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What a nice survey, 47 votes for "no", 0 for "yes" and 0 for "unsure". The forum might be a bit biased, but why would anybody really say that crypto currencies are dead? The bitcoin price right now is at 19,858 USD. If cryptos were anywhere close to dying or already dead than the price should be below 1 USD. And this is not going to happen anytime soon. The world is still full of people who are believing in cryptos and would happily start buying bitcoins if the drop anywhere close to 1,000 USD. I am sure that we are not going to see the end of crypto currencies in general or bitcoin in particular during our lifetime. Even if 99% of the world population is not interested in cryptos anymore, as long as there is 1% who uses cryptos it won't be dead.

bittraffic

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Bitcoin/Cryptocurrency is here to stay. You see China had already banned the mining of BTC but so far they have not actually wiped them all out from China. Hash remains to have come from China still.

The issue was that mining affects the climate of course this has been proven to be just propaganda for Climate change advocates. Whoever gives rights to this mining council to dictate rules. Bitcoin will still exist and so is mining if they use renewable energy, I guess some are going to keep following the rules and lesser fees to energy bills. Bitcoin will still be here.

pooya87

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Quote from: GreatArkansas on September 16, 2022, 08:25:50 PM

As time goes by, there are a lot of cryptocurrencies are popping up. For me, Bitcoin is already proven by the time, the first cryptocurrency ever made, and always on the number 1 top market cap. For me, Bitcoin will stay but other altcoins could be here temporary? We'll never know, because most of cryptocurrency that popping now are just here to take money from people.

That's the sad part though because it proves that innovation is dead. Every new coin we see coming out is just being created to make more money. Specially after introduction of token platforms that make scamming people easy. Without innovation, we are going to see bitcoin continue dominating the cryptocurrency world while thousands of shitcoins get short term pump an dumps.

Jatiluhung

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I simply can't see why the current state of affairs could be the end for bitcoin. because if the reason is a declining trade and a falling price. then it can not be used as an excuse or even as a material consideration. because the decline is happening in all sectors. The purchasing power of the people is now decreasing in all fields. because of the economic crisis that hit, prolonged inflation and a looming recession. be the reason behind the decline in all sectors. but instead I appreciate bitcoin and cryptocurrencies where projects are still popping up, the community is still growing and that's a great thing.
So I chose to answer NO.

ehh wait, during this economic crisis there are those who continue to show an increase when depicted in a graph. namely the price of food and the price of fuel oil. when the economy becomes bearish both of these things are even bullish. very lucky those who hold both of these things. Roll Eyes

Don Pedro Dinero

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

I am not surprised that the poll result is 0 votes for Yes and Unsure, with a 100% No vote.

To think otherwise is to have no idea. Instead of thinking about the end of bitcoin right now, the smart thing to do is to think that it is cheap and take advantage of it to buy. In the next cycle, or 10 years from now, many people will look back and think that they wish they had bought at 20,000 USD. They are the same people who think bitcoin is going to end now.

If you look at the history of bitcoin that happened repeatedly when bitcoin was much cheaper.

GreatArkansas

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

(....)
The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

As time goes by, there are a lot of cryptocurrencies are popping up. For me, Bitcoin is already proven by the time, the first cryptocurrency ever made, and always on the number 1 top market cap. For me, Bitcoin will stay but other altcoins could be here temporary? We'll never know, because most of cryptocurrency that popping now are just here to take money from people.

Techkoy407

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I think bitcoin will be fine, because it has become commonplace in crypto (bitcoin) there is a decrease there is an increase so there is no need to worry about that, in fact this is a hallmark that the market is normal, you just wait for bitcoin to rise again and don't have to think about the end of bitcoin, it's better to learn and look for more useful information so that in the future it will be better.

Mate2237

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

So we have seen Cryptocurrency hit with many huge scams, come under increased scrutiny and regulation, as well as being the subject of environmental concerns.

As of late, Bitcoin is trading at the lowest levels I've seen it trade in quite some time.

So I made this poll to gage the latest opinions of the users here.

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

where is the poll you are taking about. Definitely, people use currency to scam others in the society, therefore cryptocurrency is not an exception.

Quote

environmental concerns

, you mean bitcoin here. well bitcoin has become the talk of the internet in these recent days. Please dont combine bitcoin with other altcoins. Other altcoins might end up like LUNA but bitcoin is not like them.

Ultegra134

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Quote from: Welsh on September 16, 2022, 04:07:13 PM

Quote from: Ultegra134 on September 16, 2022, 04:03:44 PM

Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

To be fair, as you correctly pointed out we're in a recession, and probably the biggest one of most of lives. Therefore, charts can't be relied on even more than normal. So, while Bitcoin historically has shown it always recovers, and lot of users have time periods that they can reference, and compare. It could be vastly different this time due to the recession.

Buying power obviously dips during a recession since people are struggling to live, let alone put their money into a developing currency which is extremely volatile when you compare it with traditional currencies.

So, in the same light; Bitcoin isn't the only thing that's going to see an extended decline, but also stocks, and other investments.

It certainly looks like it's going to be way worse than the recession we experienced through 2008-2010. That doesn't look appealing. Certainly, you can't rely on historical data and hope it's repeated. The macroeconomic environment is rapidly shifting, and the situation now is a lot different than the one two or more years ago (Covid-19, War in Ukraine, etc.). Our purchasing power has severely decreased due to the increased living costs. Groceries, fuel, and electricity have all skyrocketed. It's perfectly normal that investments come second.

All investments have been affected. A decent example is the S&P 500 index. It's been showing steady growth since 1975 (that's the earliest I could find in charts) but is now experiencing major losses, similar to Bitcoin.

BITCOIN4X

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Quote from: lalabotax on September 16, 2022, 04:25:49 PM

~Snip

The 41 answers in the poll have given him the right answer even if the OP is still can doubt it. I don't want to argue and tell a lot because actually we all know that the price cycle will go up and down regardless of extreme or not. Just leave him with his understanding if you don't want to get a proper explanation.

Anyway the OP is inactive since this thread was created. I believe now the thread deserves to be locked.

lalabotax

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

How long have you neem in the crypto industry?
After several times of the bearish era, with many extreme drops, with so many FUD so far, do you ever find that Bitcoin or cryptocurrency ended and over?
No, even though there are so many FUD that is always spreading during the time, in fact, they cannot make Bitcoin dead. This bearish era with so many drops in all aspects doesn't mean that this is the need of the era. This is only [art of how Bitcoin and crypto, in general, is having. So, no need to worry much about the current situatio.
But if you are talking about so many scam projects and shit coins, they may not also end. exceptt for shit coins that have no value, they may end.

passwordnow

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It's always like every year that whenever the market isn't good enough, there would be questions like this. But for me, right now this is a valid one because we're facing recession and inflation and it isn't bitcoin and the crypto market that facing such. Too big of a factor to think if the market will really survive. Well, it will recover no matter what it faces, and I just lean toward the fact that anything that goes down will bounce back and go up again. IMO bitcoin is still the best asset for my taste, a safe haven, and people shall see that it's still the best way to hedge against inflation.

Welsh

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Quote from: Ultegra134 on September 16, 2022, 04:03:44 PM

Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

To be fair, as you correctly pointed out we're in a recession, and probably the biggest one of most of lives. Therefore, charts can't be relied on even more than normal. So, while Bitcoin historically has shown it always recovers, and lot of users have time periods that they can reference, and compare. It could be vastly different this time due to the recession.

Buying power obviously dips during a recession since people are struggling to live, let alone put their money into a developing currency which is extremely volatile when you compare it with traditional currencies.

So, in the same light; Bitcoin isn't the only thing that's going to see an extended decline, but also stocks, and other investments.

Ultegra134

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Merit: 845

Scams? What exactly are you talking about? If you're referring to altcoins, it's expected because anyone can launch their own token. The economy is going through a period of recession on a global scale. You can't expect cryptocurrencies or Bitcoin to be performing at their best. If we're patient enough, we're not going to regret it. Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

Let's not forget how many pyramid schemes are out there, scamming millions of dollars with little to no action taken against them. Yet, there are people focusing on some random token that rug-pulled and scammed its users.

Welsh

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Quote from: goldkingcoiner on September 16, 2022, 03:44:04 PM

You should be prepared for scary sell-offs in the crypto world. The price volatility is amazingly high and can make you dizzy. Most important thing is not to panic, keep your wits about you and step away from the keyboard. Just hodl. Really, thats the best advice anyone can give you.

To be fair, the price volatility catches out even the longer term holders. It really does depend what your goals are when you invested. If you've over invested, and are counting on it going up, then of course you're going to feel the pinch in times like these.

However, a lot of users have simply started using Bitcoin due to the freedom it provides, and mainly because they're sick, and tired with a society that is highly dependant on banks. I'm not even going to get started on how dodgy banks are, yet we still use them. Literally, in their terms of service, they tell you they basically use your money to earn more money.

sulendra12

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Quote from: SmallCapCoins on August 19, 2022, 01:58:23 PM

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

Pretty much it's the same, every thing in this world has good side and bad side on every aspect you can find. When you find something good, there will be always some bad people out there to ruin the fun for you. Does that means it will be the end of that? Absolutely not, the community is still strong and it only portions of those are bad, while the rest are some good individuals to make the community stronger.

Thinking of everything could end because of some scammers and some regulations are pretty much a bad mindset IMO.

BIT-BENDER

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In my own opinion you don't have any solid point to why you even think it's the end of Bitcoin, and ignorance isn't an excuse here because you can always do your own research. This won't be the worse situation Bitcoin has found it self in fact it's not even close, and still that didn't bring an end to bitcoin.

Have we now ran out of topics for this sort of topic to be a thing? When they say crypto-currency is volatile this is Exactly what it means, the price would always fluctuate and this shouldn't cause a post about bitcoin dead or not during Market price fall.

goldkingcoiner

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I have to say, I am quite proud of you guys. Not a single answer other than a big "NO". I think that perhaps the OP is a bit new at cryptocurrency, despite his aged account and might be feeling very nervous due to the current dip, aka "correction". So I do hope that the poll provided you some relief, after seeing how strong our assurance is about Bitcoin and generally, most cryptocurrency. Although personally, I would leave out the cryptocurrency part and just go for Bitcoin. Bitcoin is a sure thing, every other crypto... Not so much.

You should be prepared for scary sell-offs in the crypto world. The price volatility is amazingly high and can make you dizzy. Most important thing is not to panic, keep your wits about you and step away from the keyboard. Just hodl. Really, thats the best advice anyone can give you.

Welsh

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Just remind yourself that this question literally gets asked after every drop, and not just every so often. Literally, every time I see certain people, they mention that Bitcoin has finally burst. It's been a running gag for like five years now.

Quote from: coolcoinz on September 16, 2022, 03:05:28 PM

No - 34 (100%)

The only thing I'm surprised by is the lack of trolling in the votes, but realistically asking this sort of question in a Bitcoin oriented forum is generally going to come to the same conclusion. If you asked it in Reddit, you'd likely get slightly different viewpoints, but Bitcointalk is sort of more attractive to long term Bitcoin users, and therefore the votes are going to reflect that. I guess what I'm trying to say is Bitcointalk isn't the most accessible due to all the restrictions we have, so generally those that vote are going to be a little more likely to be veterans, and therefore Bitcoin believers.

Topic: Poll: In your opinion is this the end for Bitcoin/Cryptocurrency? - page 2. (Read 787 times)