Topic: The love I have for bitcoin (Read 236 times)

I like Bitcoin because it has the highest value of any crypto currency, which is why people are interested in trading it. Despite the fact that its initial values were too low, Bitcoin has grown to an incredible height today. 1 BTC costs thousands of dollars.

For me bitcoin is the king of all cryptocurrencies and this coin is the safest coin to invest with. because we all know that there are a lot of coins put there but too risky to invest because the price are too low. While in bitcoin even if the price is volatile but for sure it will make us happy in the long run if we invest bitcoin. Bitcoin is for long term investment that can provide us a good profit.  And also we all know that Bitcoin will not gonna die

It's not as a result of the only reliable one, at least it's been known as the father of other cryptocurrency, other coins is sub in Bitcoin and it's very obvious that the market of Bitcoin affects other coins, if Bitcoin is experiencing bearish market it will be very difficult before you any coin that is having green colors in the market, so therefore i come in conclusion that Bitcoin influence the market of other coins.

To think of cryptocurrencies, one must think of Bitcoin. Because the position of this cryptocurrency is based on Bitcoin. No matter what we all think we know bitcoin is one of the most popular and least risky currency to invest. And yes Bitcoin was at a very low level with the FTX bankruptcy but people thought that Bitcoin might go down and eventually be destroyed. But no, Bitcoin has gone through a tough time but has risen to the top again. Expect Bitcoin to make an all-time high in 2024.

I believe that anyone who believes that Bitcoin will someday perish is undoubtedly ignorant of the cryptocurrency, as anyone who is aware of it will never believe that it is perishing as a result of its declining market value as your friend. Actually, a lot of those who constantly stress that Bitcoin will perish are groups of individuals who are ignorant of other cryptocurrencies and Bitcoin, so they are judging Bitcoin based on the demise of some other project. I don't understand why someone's mind would not be adamantly attracted to Bitcoin if they can learn a lot about the bitcoin blockchain ,and believe that bear market occurs and also know their is time for bull run.

I mean bearish or not, it is Bitcoin in the end. Unlike those shitcoins that would just die out immediately overnight or just does not survive a bearish market due to plenty of dumps, I always believed in Bitcoin. Regardless of the price, I don't care if Bitcoin even went below 10k. When I say I am hodling, I am hodling.

Bitcoin also has been rising from the dead over and over again if you had read the Bitcoin Obituaries. I believe it is more than half a thousand already.

No matter how bad the news is, bitcoin will not disappear because of it. I think bitcoin will continue to reign supreme among all other coins and hold the attention of major market capitalists.
Although I think many people will stick with bitcoin, even if some centralized exchanges fail and some DeFi is equally unlucky, obviously it doesn't affect bitcoin as a whole in the sense that bitcoin will recover, there may have been a FUD attack that occurred in the past that caused a dip because naturally, many people panicked over the situation. However, I think many people will stick with bitcoin.

Those who think Bitcoin will die are just beginners who just understand about bitcoin. We here, who have been involved with bitcoin for a long time, think that FTX events are normal events and even in the past there have been events that were even worse. It's just a cycle, just a correction to reach another high. Those who rejected bitcoin and didn't buy bitcoin when the price crashed on the news of the FTX bankruptcy, they regretted it, because at that time Bitcoin touched $15k and today Bitcoin is still holding above $22k. Those who bought that time already had a definite advantage.

I would actually say that the opposite to this saying is true in the case of Bitcoin....

"A little knowledge is a dangerous thing"

With a little knowledge maybe the OP's friend would have bought at an opportune time
and instead lacking the knowledge will probably buy at Bitcoins ATH.

Nothing wrong with getting into Bitcoin to ride the market waves but you will almost
always fail in your goal without knowledge.

Those people that have thought bitcoin was dead were the ones that don't really own bitcoin. They are the people that wishes unfortune for those that's part of the market because they know that something bad is going on.

We've been telling this to a lot but they were just ignoring all of those tips that we're telling them to buy bitcoin. Those dramas and issues are temporary as bitcoin no matter what happens, it's certain to recover.

And we can't force them to buy even if we badly want them to go early before the next bull run cycle.

There are many ways for whales to get your bitcoins. Starting from bad news, market panic and ending with the creation of scams. This scheme has been known for a long time since the ICO: scammers create an altcoin, and promise that it will grow in price faster than bitcoin. And people are starting to buy this scam. Only Strong Hands are able not to believe in quick profits and keep bitcoin on the wallet. I will also note that the same is true with ether. At one time, I spent a lot on shitcoins.

how not, it was bitcoin that pioneered crypto.
until whenever bitcoin will remain on top.
when the ftx collapsed there was indeed a decline in bitcoin, but that was normal and normal.
because bitcoin is not going to collapse that easily.
stick to invest dibitcoin nothing else.

In general, the crypto market goes through periods of fluctuation between ups and downs, like all products in the asset market, but since it is an emerging market, it is subject to sharp declines compared to the periods when the price is at its best.

 In fact, I did not understand the meaning of your post and sharing these ideas with us.  The first thing that comes to my mind is that you want to get merit points and upgrade your membership, but you may not have chosen the right way. Try to share something useful.

FTX bankruptcy had nothing to do with bitcoin though price reduction was normal because of the fear. In such a market, fear gets everyone and most people sell. There were a lot of such issues back in the time. Mtgox one has more influence on bitcoin price than ever if I'm correct but still, Bitcoin exists and has increased significantly amount than it was in the mtgox days. Centralized exchanges will come and go but Bitcoin will be there all the time.

No matter how bad the news out there is, it will not make bitcoin die. I believe bitcoin will still stand firm as the king of other coins, which will continue to occupy large market capitalists.
Some time ago there might have been a FUD attack that caused a dip because naturally a lot of people panic over the situation but I believe a lot of people will stick with bitcoin, even if some centralized exchanges go bust and some DeFi is just as bad luck obviously it doesn't affect bitcoin as a whole in the sense that bitcoin will go back up over time.

Let your friends reject bitcoin but you yourself already believe in bitcoin that is a good thing, maybe your friend will regret it later if the price of bitcoin goes up and up again.
Even though there is a big risk from market volatility, bitcoin has good potential to grow.

According to Oxford’s English dictionary "reliable" means consistently good in quality or performance; able to be trusted." And if you ask me not everyone would agree to this statement because Bitcoin lacks the consistency in so many areas, talk about transaction fees which are ever inconsistent and other stuff like it's value.

Because Bitcoin runs on a free market economy without a central power controlling it and supply and demand dictate it's price thanks to its economics 101 build up.


"Most " is an over statement!

As much as I know ,the markets always behave this way and whatever happened Was a conindent with FTX, bTw with or without the FTX saga a bearish market would still have hit

FTX, only one of the few Bitcoin exchanges that has no effect on the ups and downs of Bitcoin, we recognize that there are a lot of problems going on in the crypto market, but FTX is not the problem, You have to believe, Bitcoin is not traded on just one or two exchanges, nor is it traded in one country, maybe almost all of them.

Many exchanges and countries still believe that Bitcoin is one of the digital assets traded on the crypto market, in essence: now do something that is best for yourself in the future about Bitcoin, let them/your friends choose their own path, there is no compulsion to do something with Bitcoin, those who understand the situation win.

The love I have for bitcoin it can not be estimated because it had make believed that it is reliable and can be trusted. When bitcoin was gradually moving up so many alter coins came I then think it the same and see it as an opportunity for me to be a holder of Coin than I invested a lot of money it, they also make us believed that bitcoin is a scam that it doesn't have future that when I made up my mind about is a scam. At long run the project starts showing signs of discouragement but I still believed in than because of what they were saying.

few days later my friend introduced me to another coin again and they were saying the same thing that bitcoin in scam showing all the evidence that will make me to believe them, and also showing fake advantages of their coin over all the coins that are in existence then. They even included my first investment in crypto as scam and also proof of evidence to show me that is a scam. I later give up on my first investment to concentrate on my new investment thinking that I can recover from here.

To cut the story short I now made up my mind to even Invest in the so called scam Coin since the good coins have turned to bad ones. I than purchased bitcoin.
Finally the scam Coin put smile on my face, it just comes as a rescue for me, since than I started liking bitcoin above all Coin and also admitted that it the king of cryptocurrencies.

People who think bitcoin is dead don't really understand it. I wasn't an early investor, but after doing some research and considering what has happened to bitcoin in the past, I now believe that bitcoin will always recover. Because Bitcoin is an asset for the future, you should hold onto it for a long time. Bull season is coming, and that has historically been its behavior.

It's okay to inform them and make an effort to persuade them if they don't believe in it, but you shouldn't force them. Eventually, they will likely realize what they are missing. Bitcoin is not like other Altcoins that will quickly die off

When I think of btc, I think about freedom and oportunity that it gave me. I divesify my money, put some in btc, some in altcoins and some I keep in others non crypto investments. But I must say investments that I've made in crypto are just the most profitable.

Dont recommend a volatile asset like bitcoin just like that to your friends. You dont wanna get blame when they burn their money. Yes bitcoin is reliable but it doesnt mean your friends would get rich when they bought it now. Its still a speculative asset but there is no harm telling them what you like about it and give them the rights to learn it as well and let them decide if they want to buy it or not.

Each person has unique reason to be interested in Bitcoin and to join this market. Nothing is wrong, bad or good by their first reason to join here.

However, sometimes they don't mind what is Bitcoin all about. They simply feel convinced that Bitcoin is a tool to make them richer, and get richer quickly then they join. I used to feel very weird to know some people who buy, sell Bitcoin for about 2 years but did not know what is Bitcoin block explorer and don't know what is transaction hash (txid). They think after they make a transaction or withdraw their bitcoin from an exchange, it will be move quickly to a receiver. They have no knowledge about confirmation.

It means they must be educated more from very basics and they must be less lazy.

Thats the thing, education is key. A lot people are attracted to Bitcoin by its market value.

They dont realise everything Bitcoin can offer besides being solely an investment.

And on investing for the future, its not just for weeks, months or even a year, its long term.
I think the OP is the only one of that group of friends who

a.) did a bit of research and
b.) realised a long term outlook

Bitcoin is Bitcoin, centralized exchange is centralized exchange, so if all centralized exchanges collapse e.g. Binance, FTX, Kucoin etc, you can still trade using decentralized exchange. Unlike other centralized shitcoins where they're depends on the exchanges, they don't have any decentralized exchanges.

Bitcoin would be collapse if the problem is from the Bitcoin itself e.g. a machine can break the cryptography security, changing the protocol, 51% attack etc. But right now Bitcoin is still safe, so you don't have to worry.

If anything, the pressure was a lot more on the broader crypto/DeFi industry — not Bitcoin. Yes, bitcoin's price dropped at that time, but it showed that having something so simple as bitcoin is so important. No smart contracts and all that, just plain 'ol bitcoin.

If newbies understood that there were a lot of things worth considering other than bitcoin's value in terms of price, they wouldn't have gotten out so fast. The op's preference proves that the OP's friend isn't good enough at understanding:
- bitcoin volatility risk
- bitcoin functionality

If a beginner's love is shown for seeing bitcoin in all its advantages, then it will make them last a long time in any market situation.

Less people thought that "Bitcoin is dead" in latest years than in the past.

https://99bitcoins.com/bitcoin-obituaries/

Less red dots on the "“Bitcoin Is Dead” - The #1 Database of Notable Bitcoin Skeptics" chart
https://buybitcoinworldwide.com/bitcoin-is-dead/

And another that why starting this year, in January, we saw some pumps on the entire cryptocurrency including Bitcoin is because of what happened to a lot of centralized companies that went bankrupt, for me what pumps we recently is a correction due to the dumps caused by centralized platforms before, it was started on the Luna collapse, I believe.

Those who hear the word cryptocurrency and immediately think of Bitcoin are those who already know Bitcoin or at least have heard of Bitcoin before. Well, actually cryptocurrency itself has a lot of models and there are even people who when they hear about the term or word cryptocurrency don't immediately imagine Bitcoin in their head because basically they have never heard of Bitcoin.

If you say Bitcoin is a very reliable asset and a great one to buy and own over the long term, I think that's obvious. But if you talk about cryptocurrency to everyone, not all of them will imagine about Bitcoin or the word Bitcoin will cross their heads even though most of them can immediately think about Bitcoin because maybe in previous days they have heard from the news or other people.

I think it's quite normal that as a group of friends that came into the crypto industry without even spending up to a year and we record a huge losses like that, so we felt like it can't recover the losses.
Most of them sold their holding at a loss an decide never to come back to the crypto space again, I was really discouraged, but after I did so many research on bitcoin, that was when I felt encourage that it will surely bounce back.
  I kept my holdings until the price hit 24500usdt, all my findings an the course I have took have given me more faith in bitcoin because it is the future

Not only for ita reliability but also for its value. Bitcoin is the first digital money and will be the last digital money of human history. So people think of bitcoin when they heard about cryptocurrency.
If you truly believe in the system of bitcoin you stop bothering about the price dd of bitcoin. Sometimes if I had money to invest I wait for someday to drop the price of bitcoin.
So, people who believe in bitcoin will not care about the bearish market.

Bitcoin is the only cryptocurrency the others are fakes and cannot be used as a currency. I fell for altcoins many years ago and I was convinced that there would be another Bitcoin. I was wrong and lost time trying to follow them and profit from them. Bitcoin is the only one that will survive. Ethereum and other coins are not worth it but they are better then the other shit coins. The reason why Bitcoin is successful and the one you think about when someone mentions cryptocurrency is because it is the only one that has a reason to be here the others are riding off the success of Bitcoin.

It's pretty normal to see  Bitcoin price drop but why do you think Bitcoin is dead after FTX's bankruptcy?

Old users who know about Bitcoin's history see when the price of Bitcoin rise and drops or when it is a bear and bull market, If you look at the old chart and past event and compare them to what happened until now you should notice that it's a cycle.

Bitcoin only will die if there is no exchange or services that accept bitcoin as payment or if Bitcoin becomes easy to hack and program mess up due to developer's faults.
However, while the risk of Bitcoin being hacked is relatively low there is a pretty low risk if someone is attempting to hack the wallet. Since Bitcoin is a decentralized and secure, peer-to-peer network no one can easily hack or make unauthorized changes to Bitcoin program.

When you think of cryptocurrency, the first thing that comes to your mind is bitcoin, you know why? Because it's the most reliable digital asset.
  The crypto space might be bearish right now, but bitcoin always have his way of bouncing back.
 Last year December when bitcoin was reduced to a new low due to ftx bankruptcy, most people think bitcoin is dead,  I told most of my friends to buy it as at them, they all refuse, but look at it today, it always stands tall because it is the future of finance.