Topic: The eternal question - page 2. (Read 491 times)

There is no doubt that in near future blockchain technology will bring revolution. So it is high time to spread more positivity about blockchain to mass people rather making them fool by presenting it in a wrong way to them.

Good post and it hepled me to know about many things. I am totally go alnog with you on that point which is about attract people to cryptocurrency. it is really essential to let people know more about it.

Thanks for this detailed post. Yes you are correct nobody can actually predict what crypto currency will bring out in future. This crypto world is so huge and intense anything can happen at anytime both positive and negative.

Wow, you really sound pragmatic i must admit. I have really thought about this as well and i totally agree with your idea that cryptocurrency need new entrants into the game but am a little bit confused about your conclusion of ordinary people. Do you mean in the general sense of somebody who have no or small crypto knowledge or an investor who have less or no knowledge??? Which is do we quantity or quality. Thanks

People are business minded and it is their job to make money out of everything. Hence, we are seeing so much investment on Bitcoin rather than establishing it as a mode of payment. Blockchain technology is also been used by people to make money rather than helping the society and community to become a better place. I don't think if the scene will change. So, the newbies also need to adapt to the situations and learn by making mistakes and experiences.

Those that understand blockchain knows that bitcoin surely has a future. It may not show strong price like a few months ago but it has its potential. It gained mass popularity last year and whole bunch of newbies got into this hype train to gain huge profits but they are impatient. Many experts say that investing in bitcoin now is like investing in Apple or Google in 2004. Bitcoin needs more development and support of government.

I think this is just human nature to find profit out of a situation, system or technology. But, that is the beauty of Bitcoin. It is true that bitcoin was made for easier, faster and a secured transaction method but so were fiat currencies. Then people became greedy and started to make profit out of it. So, to survive in all these industry, everyone needs to learn from mistakes and study the market properly before making decisions.

TA is mostly guesswork in crypto. If it was foolproof as some people claim, we would all be millionaires. For any graph with lines drawn on it showing a bearish trend, there is another with different lines drawn on it showing a bullish trend.

About bad marketing I would say it as negative marketing. It is also helping BTC market to grow as it creates hype in people and makes people interested to know about Cryptospace. Also we the people involved in here should make people aware of cryptospace  and make people involved in here. But they should at first know deeply before they involve.

The world of cryptocurrency is growing exponentially every day, many beginners learned about it from their friends. Of course, the media actively humiliate the cryptocurrency, but this wave can not be stopped. The ordinary man in the street already understood that it is possible to earn. Even on this forum very long time ago I called a friend, I do not believe that it can earn. It will not stop. Every day there are more of us. Those who believe in cryptocurrency.

That's certainly true mate. There are many who take the beginners for granted but not all. I myself welcome most of the newbies to the crypto community and explain them what it is all about and solve their problems related to crypto. I say most and not all because some people come here just to annoy others. We can call them the haters. I had recently taught a person most of the things I know about crypto and the Bitcointalk forum and damn he was happy to be a part of it.

Here it is as an equation.

O + N = A worthless value

Where O = opinion and N = a number value

 

My opinion on this is best described by this joke :

Bob : Do you know how weather prediction is done?

Sam : Nope!

Bop : Well, Four people in the weather office is asked to look out the window and to say if it is going to rain tomorrow. They

then go to the window and come back to give their report. So if 2 says NO and the other 2 says YES, then it is logical to

assume that there is a 50% chance of rain tomorrow.  

The same thing happens with Bitcoin predictions... Some people make some wild predictions and post it on the internet and

other people quote them and before you know it, people accept that it is going to happen.  

When I traded more stocks and bonds I was always surprised at how many smart people put their faith in technical analysis. TA in markets like the NYSE is not good at all. In fact the very top quants rarely do better than guessing. Yet people think there is some guru somewhere who knows the answer.

[My Opinion] In crypto it is impossible to do meaningful TA. it is far to opaque, you don't know all the trades, it is happening 24/7 around the world in diverse markets and languages. You can't even know who owns what. TA in bitcoin is just a way for people who can't make a decision to pull the trigger. [/My Opinion]

there is too much money invested in bitcoin mining for it to die.  These large companies will never let it die because if they do massive amounts of money will be lost.

No I do not think you are right with your statement. You don't live on speculation for an asset. Bitcoin is analysed just like forex too because it also works with such principles basically, the technological or fundamental.

you are a sect, the speculators are seeking profits, adn supporting you, and they will drop you if their short term expectations wont be med,

you called ghosts which you know cant get rid of with your promises:

bitcoin the worlds future currency, -> there are higher forces in the world that decide about currency not just you and technological advantage which btc. btw. lost already.

regards

yeah, everyone is monitoring bitcoin prices every time i think that's why they are asking the same question over and over again.

Bitcoin was created for easier, faster and a secured transaction method but so were fiat currencies. People in their sole nature try to make benefit out of whatever they work for, the very reason why bitcoin is famous now, more returns more interest, more implementation. In midst of all the making and earning, we figure out and learn from our mistakes, and the best decisions are then put on the plate.

Overall I agree with you, @Existence, above all if we're talking about the long term. Just some remarks:

"Technical analysis" - the technique you refer to - isn't natural science. It looks like "pure, unquestionable math" but in reality it belongs to the category of Humanities, because their "patterns" are based on certain psychological effects.

A double bottom (simple and well-known bullish pattern) is a good example: People (who have entered a long position) looking at a chart seeing that the price has moved to the upside two times at the same mark are likely to believe that this price is a "fair bottom". This effect is magnified if they know that the "double bottom" pattern exists in TA and people take it into account when trading - and, above all, that lots of bots do the same thing.

But these patterns are not a Law of Nature: They only work if they correspond with the prevailing sentiment. A double bottom is worthless if there are fundamental problems with the asset (in this case, Bitcoin) that make a bearish outcome more likely.
 
So if you base your trading only on diagrams and statistics without knowing the bases then it will most likely go wrong (except if you're just lucky). But if you take into account the theories behind it, then you may get an advantage out of TA.

The more complicated TA patterns are, the more they look like astrology, and the less relevant they are, for me.

If "our" doesn't include only your company but the community in general , then you're completely right. The long-term future of Bitcoin, as an open source community product, depends completely on contributions of different kinds - software development, ecosystem development (like your company) and word of mouth/communications.