Well, I can't blame some people who have a negative view of cryptocurrency or Bitcoin because of some misinformation. We have seen and read a lot of articles on the internet and many of them have contradictions of views, it was very confusing to which article and author to believe. Some authors are focusing on the negative side of crypto and some are also on the positive side. It has a huge influence on the reader especially if they are new in the market, they will believe in the wrong information.
To evaluate the case, I encourage people to do it in actuality just to know better about crypto or Bitcoin. Market exposure is the best way to learn rather than reading books, reading articles, or watching videos.
Topic: The general public still doesn't understand Bitcoin is still growing - page 3. (Read 638 times)
January 01, 2024, 01:38:21 PM
January 01, 2024, 12:46:59 PM
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
In this case i still support bitcoin and when asking about how to tell that bitcoin is one of the investment assets that is quite feasible maybe this can still be done but to claim bitcoin of global currency is still very far away because now we are still in commodities and it cannot be said to be a global currency at this time.
The amount of miss information because indeed some people who have an interest do not want to make bitcoin look further with their power they are still trying to cover up the truth about bitcoin it will certainly still be very disturbing but in this case of course as long as there is internet and the development of technology is getting more comprehensive I think bitcoin will continue to grow and now also its development has looked very good.
January 01, 2024, 12:28:06 PM
Such books are merely representation of negative stories that happened. They are just titling it with smart marketing geeks. I mean peeps these days want to know negative sides or may be bad stuff. Its nature of peeps to get attracted bad stuff more than the positive stuff. Considering FTX collapse was the most hot topic last year, they made perfect entry with its context in it. I think they thought this true and it was just in the want of making quick money. At least I think this way when I see such books on shelf.
Now coming back to the title of this, I think connecting Bitcoin with FTX collapse is way opposite. I dont like it whenever something negative happens in the market then everyone starts talking about Bitcoin as center point. Whether its Binance getting kicked out of US or its Silicone valley getting robbed they point at Bitcoin only. So these books are just getting published out of making quick bucks.
Now coming back to the title of this, I think connecting Bitcoin with FTX collapse is way opposite. I dont like it whenever something negative happens in the market then everyone starts talking about Bitcoin as center point. Whether its Binance getting kicked out of US or its Silicone valley getting robbed they point at Bitcoin only. So these books are just getting published out of making quick bucks.
January 01, 2024, 12:27:41 PM
Not having enough knowledge is dangerous and this book you mentioned really proves it. Maybe the author of the book is really smart and going for the negative promotion by creating false information in his book or he could be a total dumb ass who does not know anything about the real cryptocurrency or Bitcoin.
Right now it is really hard to get knowledge from any source as none of them are quite genuine. People are spreading all kind of false information just to get money or become famous.
I can literally write thousands of books about anything I find on the internet using some kind of AI tools and sell them to make profit but I will not go through everything to search for errors that might have been put there for outdated data. My point is, anyone can become influencers and influence people in the wrong way.
Stay away from this kind of thing and try to do things that you feel is right.
Don't pay too much attention to others as their losses could be our profit. That's how the market works. Help yourself and forget about others if you want to be successful in this line of work.
Right now it is really hard to get knowledge from any source as none of them are quite genuine. People are spreading all kind of false information just to get money or become famous.
I can literally write thousands of books about anything I find on the internet using some kind of AI tools and sell them to make profit but I will not go through everything to search for errors that might have been put there for outdated data. My point is, anyone can become influencers and influence people in the wrong way.
Stay away from this kind of thing and try to do things that you feel is right.
Don't pay too much attention to others as their losses could be our profit. That's how the market works. Help yourself and forget about others if you want to be successful in this line of work.
January 01, 2024, 12:10:08 PM
I used to create bait articles in the past where I would make a headline about something so sensational about bitcoin's death only to slowly marinate the reader into realizing that bitcoin's not death, basically reel them in with misinformation, and then beat them in the face with facts and logic. I don't know if stuff like these will still work, but hey, worth a try right?
I think a big part of the disconnect is that most people don't understand the power of a meme, which is what Bitcoin is, and what major brand names like Coca Cola are. People will always pay a lot more money for a shirt that says "Gucci" on it than a shirt that says, "Fruit of the Loom". The value might fluctuate over time, and memes are completely hype-driven and very volatile, but the ones that have been around for a while like Bitcoin will necessarily have a lot of staying power as well.
This conversation gets confused by the common mythos of Bitcoin and cryptos generally, e.g. that they will "take over existing currencies" or that they represent some vague notion of "freedom" or something. All of those arguments are very easy to refute, and Bitcoin isn't going to do any of those things and that's okay because it doesn't need to: Bitcoin's power comes from the name "Bitcoin" and the fact that so many people think it's valuable. It has become this valuable despite most of the mythology about it being false or unfounded.
If you understand Bitcoin to be the "mother of all memecoins"--and nothing more--then the market dynamics are much easier to understand and predict.
January 01, 2024, 11:41:54 AM
At the bookstore today I saw some book about the rise and fall of crypto. On the front cover it was saying crypto went mainstream in 2021 and then collapsed in 2022 culminating in the FTX collapse. The book was definitely partially about the FTX collapse, but it also referred to the entire market as having collapsed, hence the "Fall" part of rise and fall. The final sentence on the front cover mentioned something about the collective delusion that led to this rise and fall of the $3 trillion market.
It hit me that the author, who presumably did a lot of research into the industry in order to write the book, is basing his book on the idea that crypto has collapsed permanently after having a short moment in the mainstream in 2021 (though you coulda said the exact same thing about 2017).
I almost laughed out loud cuz here is an author that did enough research to write an entire book, far more research into the space than the average person does, and even the author doesn't understand what anyone who actually participates in the market easily understands - that the market is cyclical and the 2022 crash was not an end event for the industry but simply the end of a market cycle leading into the next larger market cycle.
Knowing that the market goes through four year cycles and each one is bigger and each big crash and bear market is just a temporary downturn before the market grows vastly larger than it previously was...this is extremely basic knowledge for everyone in the industry. But someone who wrote a whole book on the topic doesn't even understand that! It just really blew my mind. The author thought he was writing about the collapse of the market, yet he would be laughed out of the room by anyone with even a little understand of the market. What is it going to take to educate people on bitcoin and the crypto market?? Every four years its like the general public has a complete reset and thinks bitcoin is going through a bubble for the first time and then dies for good. And they completely forget that it did the same thing a few years earlier likely when they first heard about Bitcoin in 2017 (they probably don't know it had done it a few times before that too).
But just like how do we get the average person out of the repeating delusion that every bull run must be the last and every new bear market is bitcoin and crypto finally collapsing for good? Cuz I mean the average person legit thinks that bitcoin is over during each bear market, they literally think "oh I missed out on that bubble". A friend of mine even said that to me like a month ago, she asked what I had my money in and I told her Bitcoin and her response was oh I missed out on that. She just assumed that it was a one time bubble that was over.
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
Bitcoin and crypto's been dead for so many times now I may as well call it the rezombification everytime it gets relevant again. It's like every time some idiot who knows jackshit about bitcoin loses money on the crypto industry after they bought high and sold low loses their money they always presume that bitcoin/crypto is dead, and I think this author's on the same boat. Or perhaps he's trying to sensationalize the hate against crypto once again and is using FTX as the driving force to tell people in evidence that crypto is already dead for good and there's nothing you can do about it. LOL. We all know what the truth is and what is already brewing above us so yeah, let this stupid author sell books while the rest of us here are earning money more than he will ever see in his damn life. It hit me that the author, who presumably did a lot of research into the industry in order to write the book, is basing his book on the idea that crypto has collapsed permanently after having a short moment in the mainstream in 2021 (though you coulda said the exact same thing about 2017).
I almost laughed out loud cuz here is an author that did enough research to write an entire book, far more research into the space than the average person does, and even the author doesn't understand what anyone who actually participates in the market easily understands - that the market is cyclical and the 2022 crash was not an end event for the industry but simply the end of a market cycle leading into the next larger market cycle.
Knowing that the market goes through four year cycles and each one is bigger and each big crash and bear market is just a temporary downturn before the market grows vastly larger than it previously was...this is extremely basic knowledge for everyone in the industry. But someone who wrote a whole book on the topic doesn't even understand that! It just really blew my mind. The author thought he was writing about the collapse of the market, yet he would be laughed out of the room by anyone with even a little understand of the market. What is it going to take to educate people on bitcoin and the crypto market?? Every four years its like the general public has a complete reset and thinks bitcoin is going through a bubble for the first time and then dies for good. And they completely forget that it did the same thing a few years earlier likely when they first heard about Bitcoin in 2017 (they probably don't know it had done it a few times before that too).
But just like how do we get the average person out of the repeating delusion that every bull run must be the last and every new bear market is bitcoin and crypto finally collapsing for good? Cuz I mean the average person legit thinks that bitcoin is over during each bear market, they literally think "oh I missed out on that bubble". A friend of mine even said that to me like a month ago, she asked what I had my money in and I told her Bitcoin and her response was oh I missed out on that. She just assumed that it was a one time bubble that was over.
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
But of course, proper education about what really is crypto all about's more important than telling people they will be rich, or that bitcoin's dead. The only problem we have with that is the fact that misinformation spreads faster than facts. Not to mention the fact that the average human being's attention span is fucked beyond repair, and we got people who would believe anything they first saw.
I used to create bait articles in the past where I would make a headline about something so sensational about bitcoin's death only to slowly marinate the reader into realizing that bitcoin's not death, basically reel them in with misinformation, and then beat them in the face with facts and logic. I don't know if stuff like these will still work, but hey, worth a try right?
January 01, 2024, 09:15:33 AM
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
The internet has a lot of material about Bitcoin for anyone who cares to invest in the sector. That is why we are encouraged to do our research. Most of the books that have been written are authored by humans that has emotions and limitations. Some of these authors are sponsored by forces that are against Bitcoin to right rubbish about the sector. Others claim to be crypto experts when they know nothing about the industry. We just have the responsibility of educating people who are interested in Bitcoin but they have the responsibility to do their research. And what they saw with FTX was the market crash and not Bitcoin or even the altcoins. Maybe later, there will be a market that experiences something similar, and they will also think the same thing. We can't educate them if we don't want to learn the truth. So leave them like that until they really realize it.
FTX case was a collapse of a firm and not a crash of the crypto market. The company was managed by a group of inexperienced individuals who misused the money of investors. It was nothing but a clear scam case and has nothing to do with the crypto market 
January 01, 2024, 09:02:22 AM
The crypto market did take a big dump when FTX collapsed. the author was probably discussing about that. Bitcoin Dropped to a 2-year Lowest price..
~snip~
~snip~
Wasn't FTX just a continuation of what preceded the collapse of the entire market? The collapse of the project launched by Do Kwon had an even greater effect on the cryptocurrency market, because we are talking about tens of billions of dollars (and some say over $100 billion) of damage. It will never be clear to me how anyone can trust people who at first glance seem incompetent, not to mention the fact that one of them already has a history of bad business moves.
Now Finally market is destabilizing, Bitcoin and other Altcoins increasing...
~snip~
~snip~
How can you talk about destabilization and at the same time say that Bitcoin and altcoins are "increasing"?
December 31, 2023, 08:26:02 AM
Anyone today can be a journalist or write a book, and that has become especially easy since the advent of AI chat bots that do it very quickly and cheaply instead of people. So I don't think you should get too excited about a book that is obviously written by an amateur who believes that Bitcoin was created in 2017 or 2020, or that Bitcoin has anything to do with people like Bankman or Do Kwon.
The so-called "general public" in part understands that Bitcoin is something like shares or some kind of digital gold, and this should not be at all strange to us, considering that most people on this forum consider Bitcoin to be only a good investment. When it comes to education, I think that everyone can educate themselves very well about what Bitcoin is, given that all knowledge is publicly available online - and for those who don't want to or don't know how to use search engines, it's not something they should to think at all.
As for some people persistently repeating that they missed the chance, I think that these are lost cases - because I know some people personally who found Bitcoin expensive when it was worth a few hundred $, when it was a few thousand $, and especially now when it is worth tens of thousands of $. The one who wants to find an excuse will always find it no matter what.
Same goes on other fields (music, photography, video, etc..). Thanks to the technology we have now. But it's true what they say that technology can also make us dumb. I think one example is the topic we have here. That is when we rely too much on them like when we use AI chat bots. We don't know that they are not accurate enough and can give us false information sometimes. BTC seems still a new thing, so there will be people who feel excited when they see stuffs related to it like a book.The so-called "general public" in part understands that Bitcoin is something like shares or some kind of digital gold, and this should not be at all strange to us, considering that most people on this forum consider Bitcoin to be only a good investment. When it comes to education, I think that everyone can educate themselves very well about what Bitcoin is, given that all knowledge is publicly available online - and for those who don't want to or don't know how to use search engines, it's not something they should to think at all.
As for some people persistently repeating that they missed the chance, I think that these are lost cases - because I know some people personally who found Bitcoin expensive when it was worth a few hundred $, when it was a few thousand $, and especially now when it is worth tens of thousands of $. The one who wants to find an excuse will always find it no matter what.
It is only funny and disappointing that some books are not properly written. Those who don't know how to use a search engine should work their way on knowing it. So that they can verify what they see if it's true or not. They should only be careful because not all that we see online are also true. The last thing that you said is annoying but they are not lost cases since it is still occurring up until now.
December 31, 2023, 04:37:00 AM
As long as people are unwilling to learn what crypto and Bitcoin are, they will continue to think that it is just a bubble that will pass. They don't realize that Bitcoin is still surviving and even getting stronger. We can't educate them to realize that if they don't want to learn to accept new things.
When they hear the price spikes of Bitcoin and altcoins, they think it's the same thing they've already encountered. They thought it would disappear like before and would appear again. But if they realize that crypto and Bitcoin are still around, they will realize they are too late to invest in Bitcoin.
And what they saw with FTX was the market crash and not Bitcoin or even the altcoins. Maybe later, there will be a market that experiences something similar, and they will also think the same thing. We can't educate them if we don't want to learn the truth. So leave them like that until they really realize it.
When they hear the price spikes of Bitcoin and altcoins, they think it's the same thing they've already encountered. They thought it would disappear like before and would appear again. But if they realize that crypto and Bitcoin are still around, they will realize they are too late to invest in Bitcoin.
And what they saw with FTX was the market crash and not Bitcoin or even the altcoins. Maybe later, there will be a market that experiences something similar, and they will also think the same thing. We can't educate them if we don't want to learn the truth. So leave them like that until they really realize it.
December 30, 2023, 11:57:31 PM
I guess they just didn't do their research and assumed that because FTX fell that it was the end of crypto as we know it. SMH. It definitely put a huge damper on things and for quite a while if I might add but it was definitely not the end of Bitcoin as we know it. SBF is definitely going to pay for that 100 fold because he is not in for a fun future I don't think. Bitcoin is definitely strong, and just needs to sort out this Orinals issue...
December 30, 2023, 02:59:24 PM
In general with today's content, the source has to be verified, and this process is not something new, however with the mediocrity that is experienced and that young people believe what they see, read or hear without checking anything, then there are bandits out there creating anything, because these "things" are consumed.
As for people or the public in general, man, everyone must be aware of what they do, believe or follow, we are no longer a society that has to be leading everyone by the hand, please! Everyone doing your part.
As for people or the public in general, man, everyone must be aware of what they do, believe or follow, we are no longer a society that has to be leading everyone by the hand, please! Everyone doing your part.
December 30, 2023, 12:40:33 PM
The crypto market did take a big dump when FTX collapsed. the author was probably discussing about that. Bitcoin Dropped to a 2-year Lowest price.. Tether (USDT) de-pegged and dropped to 0.97. Solana's price dropped as well along with lots of coins and tokens. so yeah that was pretty much a fall in crypto market..
Now Finally market is destabilizing, Bitcoin and other Altcoins increasing, and Solana went from $20 to $120. Hopefully, those Mainstream Authors and publications will understand soon that these kinds of accidents won't effect the crypto market much. there will be ups and downs. but the market will never completely collapse.
The marker had always been moving in a downward and upward trend and this will continue for the market to keep growing. This ethay thanks that once the market price goes down, it means the bear has come. The market will always go down to balance momentum and to allow people that want to buy at a lower price to enter the market and create liquidity for a bull market. Now Finally market is destabilizing, Bitcoin and other Altcoins increasing, and Solana went from $20 to $120. Hopefully, those Mainstream Authors and publications will understand soon that these kinds of accidents won't effect the crypto market much. there will be ups and downs. but the market will never completely collapse.
Once we are investors, we need to learn about Bitcoin so that we can market profits from the market without being ignorant.
December 30, 2023, 12:08:41 PM
The crypto market did take a big dump when FTX collapsed. the author was probably discussing about that. Bitcoin Dropped to a 2-year Lowest price.. Tether (USDT) de-pegged and dropped to 0.97. Solana's price dropped as well along with lots of coins and tokens. so yeah that was pretty much a fall in crypto market..
Now Finally market is destabilizing, Bitcoin and other Altcoins increasing, and Solana went from $20 to $120. Hopefully, those Mainstream Authors and publications will understand soon that these kinds of accidents won't effect the crypto market much. there will be ups and downs. but the market will never completely collapse.
Now Finally market is destabilizing, Bitcoin and other Altcoins increasing, and Solana went from $20 to $120. Hopefully, those Mainstream Authors and publications will understand soon that these kinds of accidents won't effect the crypto market much. there will be ups and downs. but the market will never completely collapse.
December 30, 2023, 11:33:31 AM
You got it wrong we cannot measure Bitcoin's just by the market cap or its increasing price because it would be useless if it's not used for the purpose it was created as users will never adopt Bitcoin if the fees continues to be sky-high and moreover it would lose it's userbase to other coins. I would consider Bitcoin as growing only when we see more adaptability rate and Bitcoin transaction should become as easy as UPI or any other altcoins transactions.
You hit the nail on the head here for me. Something going up in price doesn't mean it's "growing" by almost any definition--especially when the price could just go down just as easily.
I personally think Bitcoin's problems with scalability are architectural and will never be solved, which relegates it, permanently, to being a speculation instrument and nothing more.
December 30, 2023, 11:11:42 AM
What you seem to be saying is that when the price of Bitcoin rises then people think it's the next big thing, and when it falls they think it's a bubble that's been popped.
That's definitely my experience. Most of the time the argument in favor of crypto and blockchain I hear is, "look how much the price went up". Since blockchain technology makes it impossible for a cryptocurrency based on it to truly scale to the needs of a mainstream digital currency, Bitcoin and the others will always be a speculation instrument and nothing more. It will go up in value, and it will go down in value. People, by the millions, love this sort of thing (gambling?), so Bitcoin will always have an audience at least of some kind.
How high can it go? The sky's the limit. How low can it go? There's nothing stopping it from going to zero :-).
That's definitely my experience. Most of the time the argument in favor of crypto and blockchain I hear is, "look how much the price went up". Since blockchain technology makes it impossible for a cryptocurrency based on it to truly scale to the needs of a mainstream digital currency, Bitcoin and the others will always be a speculation instrument and nothing more. It will go up in value, and it will go down in value. People, by the millions, love this sort of thing (gambling?), so Bitcoin will always have an audience at least of some kind.
How high can it go? The sky's the limit. How low can it go? There's nothing stopping it from going to zero :-).
Right. People usually get excited about Bitcoin and other cryptocurrencies when their prices go up and skeptical when they drop. Even though there's talk about blockchain's limitations for widespread use, many see Bitcoin and others as more of a speculative game than a serious currency. It's like a gamble that attracts a massive audience. Predicting where Bitcoin's headed is anyone's guess and some think it could skyrocket, while others wouldn't be surprised if it crashes to nothing. It's a wild ride and the whole crypto thing is still up in the air.
December 30, 2023, 09:09:20 AM
market cap is a meaningless number
utility is the subject.
and seeing how big corporations are adopting bitcoin, it shows they see the future.
im not a fan of them but just seeing the depths they are wiling to go to to get involved shows they see bitcoins longevity
years ago when newbies asked is bitcoin useful. i used to order them a fast food delivery via bitcoin to show it can buy real things
these days it just requires showing the battles of blackrock vs the SEC getting an ETF started to show that the elites are taking bitcoin serious for future business needs
these days even showing blackrock not just spending millions on legal team for the ETF but also they are investing in mining operations and other businesses related to the bitcoin ecosphere
we have moved well passed the era of self employed microbusinesses of alpaca socks, bitcoin cupcakes and pizza trades. we are now in the era of pension funds and international remittance
utility is the subject.
and seeing how big corporations are adopting bitcoin, it shows they see the future.
im not a fan of them but just seeing the depths they are wiling to go to to get involved shows they see bitcoins longevity
years ago when newbies asked is bitcoin useful. i used to order them a fast food delivery via bitcoin to show it can buy real things
these days it just requires showing the battles of blackrock vs the SEC getting an ETF started to show that the elites are taking bitcoin serious for future business needs
these days even showing blackrock not just spending millions on legal team for the ETF but also they are investing in mining operations and other businesses related to the bitcoin ecosphere
we have moved well passed the era of self employed microbusinesses of alpaca socks, bitcoin cupcakes and pizza trades. we are now in the era of pension funds and international remittance
December 30, 2023, 09:06:13 AM
At the bookstore today I saw some book about the rise and fall of crypto. On the front cover it was saying crypto went mainstream in 2021 and then collapsed in 2022 culminating in the FTX collapse. The book was definitely partially about the FTX collapse, but it also referred to the entire market as having collapsed, hence the "Fall" part of rise and fall. The final sentence on the front cover mentioned something about the collective delusion that led to this rise and fall of the $3 trillion market.
It hit me that the author, who presumably did a lot of research into the industry in order to write the book, is basing his book on the idea that crypto has collapsed permanently after having a short moment in the mainstream in 2021 (though you coulda said the exact same thing about 2017).
I almost laughed out loud cuz here is an author that did enough research to write an entire book, far more research into the space than the average person does, and even the author doesn't understand what anyone who actually participates in the market easily understands - that the market is cyclical and the 2022 crash was not an end event for the industry but simply the end of a market cycle leading into the next larger market cycle.
Knowing that the market goes through four year cycles and each one is bigger and each big crash and bear market is just a temporary downturn before the market grows vastly larger than it previously was...this is extremely basic knowledge for everyone in the industry. But someone who wrote a whole book on the topic doesn't even understand that! It just really blew my mind. The author thought he was writing about the collapse of the market, yet he would be laughed out of the room by anyone with even a little understand of the market. What is it going to take to educate people on bitcoin and the crypto market?? Every four years its like the general public has a complete reset and thinks bitcoin is going through a bubble for the first time and then dies for good. And they completely forget that it did the same thing a few years earlier likely when they first heard about Bitcoin in 2017 (they probably don't know it had done it a few times before that too).
But just like how do we get the average person out of the repeating delusion that every bull run must be the last and every new bear market is bitcoin and crypto finally collapsing for good? Cuz I mean the average person legit thinks that bitcoin is over during each bear market, they literally think "oh I missed out on that bubble". A friend of mine even said that to me like a month ago, she asked what I had my money in and I told her Bitcoin and her response was oh I missed out on that. She just assumed that it was a one time bubble that was over.
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
Well I think the author of that book was baise in both his research and publication,he was focused more on the collapse of ftx without having idea about bitcoin in General and the role ftx played in bitcoin community. At the time of FTX collapse in November 2022 it was the 3rd largest crypto exchange in the world,so it is normal that there would be mistrust among public,and as well subsequent toppling of cryptocurrency service that did business with it. But that is an isolated case that has no bearing to the value of bitcoin.It hit me that the author, who presumably did a lot of research into the industry in order to write the book, is basing his book on the idea that crypto has collapsed permanently after having a short moment in the mainstream in 2021 (though you coulda said the exact same thing about 2017).
I almost laughed out loud cuz here is an author that did enough research to write an entire book, far more research into the space than the average person does, and even the author doesn't understand what anyone who actually participates in the market easily understands - that the market is cyclical and the 2022 crash was not an end event for the industry but simply the end of a market cycle leading into the next larger market cycle.
Knowing that the market goes through four year cycles and each one is bigger and each big crash and bear market is just a temporary downturn before the market grows vastly larger than it previously was...this is extremely basic knowledge for everyone in the industry. But someone who wrote a whole book on the topic doesn't even understand that! It just really blew my mind. The author thought he was writing about the collapse of the market, yet he would be laughed out of the room by anyone with even a little understand of the market. What is it going to take to educate people on bitcoin and the crypto market?? Every four years its like the general public has a complete reset and thinks bitcoin is going through a bubble for the first time and then dies for good. And they completely forget that it did the same thing a few years earlier likely when they first heard about Bitcoin in 2017 (they probably don't know it had done it a few times before that too).
But just like how do we get the average person out of the repeating delusion that every bull run must be the last and every new bear market is bitcoin and crypto finally collapsing for good? Cuz I mean the average person legit thinks that bitcoin is over during each bear market, they literally think "oh I missed out on that bubble". A friend of mine even said that to me like a month ago, she asked what I had my money in and I told her Bitcoin and her response was oh I missed out on that. She just assumed that it was a one time bubble that was over.
How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.
Iven thou there was a dip at the time,Bitcoin has soared ever since..to be fair do many people have come to accept bitcoin and what it represents,the acceptance of bitcoin in 2023 can not be compared to what we had in 2017 or 2018 or iven 2021.i see alot start up businesses that are heavily into crypto exchange,and these start ups are been funded by reputable organisations,so the idea of the general public still doest understand bitcoin is a little bit deceptive,because in my own view,every day people get to know about bitcoin,but ofcoure in every society there would be some individuals who are still far from reality and would have a different opinion,but that is no way the opinion of the public.
So OP,the said writer have zero knowledge about bitcoin,and his opinion is no way the opinion of the General topic,believe me bitcoin aware in this year is incredible and it will increases in subsequent years.
December 30, 2023, 09:04:40 AM
At the bookstore today I saw some book about the rise and fall of crypto. On the front cover it was saying crypto went mainstream in 2021 and then collapsed in 2022 culminating in the FTX collapse.
FTX collapsed back then and not bitcoin or cryptocurrency as a matter of fact, ever since after FXT collapse, we have some other experience related while some have already happened before FXT, the first experience MTGox, those are not the rise and fall of cryptocurrency but rather exchanges, you can't even compare the bitcoin volatility as the rise and fall or a prolonged dip as fall as the case may be.
The book was definitely partially about the FTX collapse, but it also referred to the entire market as having collapsed, hence the "Fall" part of rise and fall.
But it shouldn't have been crypto fall then, it's about scam or exchange fall, bitcoin never have such experience before and yet remain strong amidst the complicated volatile market.
December 30, 2023, 08:40:23 AM
The author is not the general public. The author is just one man or woman who has made research but only to prove that Bitcoin has failed. If you are already biased on a certain topic and you make research, then you will be able to come up with facts and data that would somehow validate your bias. You can talk about FTX, hacks, negative regulations, etc. These may be facts but they do not conclude anything. The author was the one who made the conclusions out of the facts. And he concluded wrongly.
Most people who want to paint a negative picture of Bitcoin are actually not talking about Bitcoin. Just like the author.
Most people who want to paint a negative picture of Bitcoin are actually not talking about Bitcoin. Just like the author.
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