What if stop believing about bitcoin ? - page 6.

perfect999

sr. member

Activity: 1694

Merit: 299

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Everyone will not just stop making use of Bitcoin, I don’t see the possibility of that happening, unless you have plans to use magic to make it happen. Just look at the number of people who are making use of Bitcoin today, so how does this seem possible to you that they will kind of magically lose interest in Bitcoin, all of them, and then quit from it? So that is not going to be possible at all.

But just for fun sake, let's just imagine that everyone loses interest, of course if everyone should lose interest that means the end for Bitcoin Because Bitcoin stands on our faith mostly. So, if people should stop believing in it, then it is not going to continue to function.

iTradeChips

hero member

Activity: 1792

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: cabron on October 03, 2021, 09:15:29 PM

It's not true that every country has the equivalent of gold to their fiat. It's just the government declaring those fiat papers have value. The governments today can't even withdraw their gold from banks. Maduro whom we could consider the worse dictator of Venezuela couldn't withdraw gold from the Bank of England.

So why should you stop believing in BTC when its more valuable today and couldn't be confiscated?

Well, the OP is just asking a simple question. This is basically addressed to the people who are the hardcore true believers of Bitcoin. If you are going to ask me, there are people who are apologists of Bitcoin, sole supporters of Bitcoin, and those who throw shit at all other coins, even the second placer Ethereum. It's like the OP is asking them what if all of a sudden you stop believing in Bitcoin? Then obviously it only means the cessation of one's cryptocurrency activities.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: Cryptmuster on October 05, 2021, 04:00:57 AM

Quote from: traderethereum on October 05, 2021, 01:54:08 AM

But as long as the physical things are still available, people will still use them daily.
I admit that maybe we are transitioning from the traditional way into the digital way since many things become virtual and with virtual, we can reach many things.
Bitcoin will become a precious thing in the future because not many people will have many bitcoins in their wallets while the early adopters already have many Bitcoin.
Gold itself can be a precious thing or a rare thing because the material to be gold will not last forever.
People are free to stop believe in bitcoin if they can not get bitcoin and are desperate to have bitcoin in many ways.

People always want to get valuable things, many people want to get gold, but not everyone has a lot of gold. It will be the same with bitcoin, most people will have very little bitcoin, just a few satoshis. Someone will have several bitcoins and they will be wealthy people, bitcoin in the future will be like a jewel. People may not believe in gold now, but its value will not diminish from this, the same will happen with bitcoin.

That is because people can buy any satoshi they want to think that it is easier to buy bitcoin than gold.
But besides having bitcoin, people will still try to have gold as their reserves because gold still has its popularity among the people and people give a big value as a safe haven for them.
If bitcoin and gold can be a safe haven for people, I think that can change people's lives and have a chance to have a better life in the future.
But people will regret it if they stop believe in bitcoin now.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Yes you're right that biitcoin has no physical presence because it wasn't made that way. Bitcoin was made to be a digital currency to help the economy and it has a value due to demand. Just like now you can buy bitcoin via cash and can sell bitcoin into cash.

Fiat currencies are just made by the governments and it is not backed by gold in every single country. And you trust the fiat currencies because the government told you to do so.

Fesatmas

sr. member

Activity: 2268

Merit: 275

Quote from: bhooscream on October 05, 2021, 05:40:17 PM

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin.

It is funny to see your comment. If you don't believe in Bitcoin because it is a digital asset, you are so naive. How can someone don't believe in a digital world this day? We live in a digital era and Bitcoin is one of the products of the innovative digital industry. Why you don't want to support this thing? I am sure you are smart enough to know the Bitcoin that has proven as a trustable asset nowadays. Even a big company like Tesla invested in Bitcoin, it is strange if you doubt Bitcoin. Huh

Well that's the fact that if someone dares not to admit that he is in the digital age, then he should reject everything on his cellphone, money in his account and all that nature is on the internet network.

But, Maybe the OP is just trying to get our minds to be led to one of the conditions that not everyone believes in the existence of Bitcoin. And if this is related to one physical value, it means that it does not apply to modern technology.

bhooscream

full member

Activity: 728

Merit: 117

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin.

It is funny to see your comment. If you don't believe in Bitcoin because it is a digital asset, you are so naive. How can someone don't believe in a digital world this day? We live in a digital era and Bitcoin is one of the products of the innovative digital industry. Why you don't want to support this thing? I am sure you are smart enough to know the Bitcoin that has proven as a trustable asset nowadays. Even a big company like Tesla invested in Bitcoin, it is strange if you doubt Bitcoin. Huh

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

So, just leave it, no one forces you to believe in Bitcoin.
ANd let other people who believe in Bitcoin still believe in it.
And when the other people are successful because of Bitcoin, just see them and don't make any noise again.
Everybody knows that there is no physical thing of Bitcoin, different from gold.
But, no physical form doesn't mean no exists. This is the era of technology, man, just think following up the era and you will get in it.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

But that is not something that spontaneously happens, bitcoin has been changing the minds of people all over the world, many people never thought a project like bitcoin could work but bitcoin has convinced them through its performance and its amazing fundamentals, so the scenario you are describing in which people spontaneously stop believing in bitcoin is not going to happen.

A reason must exist for such a thing to happen, and the only scenarios which could lead people to stop trusting bitcoin will have to do with a failure of the electric grid or the Internet network, and in both of those cases we will probably have more important things to worry about under those scenarios.

GeorgeJohn

hero member

Activity: 1498

Merit: 711

Enjoy 500% bonus + 70 FS

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

It's very difficult for people not to believe in bitcoin, only sector that will disregard bitcoin is those that not know the concept of cryptocurrency especially bitcoin, using myself as a reference, bitcoin is something that i believe and i will keep valuing bitcoin provided that people values fiat currency and Gold currency, so majority across the nation trust and believe in bitcoin and value it more than Gold currency from my observation via how influential both is in the society, so i think we can't equates or compare bitcoin values with Gold values.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Too impossible for it to happen specially now that recognition and adoption had already been that high which means that it is likely to happen on not to believe with Bitcoin.It might not have that physical form but

we are not aiming for something like that but rather seeing its actual use case. Decentralized? Anonymous? Irreversible? These are things which you cant really see on typical fiat we do have.

The community would be the ones who would really decide whether they do believe or not and as long it does have value then you can say that it is really having that big support.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Many have stopped believing in the Bitcoin I got involved to spread adoption for. Community leaders push the narrative that you should hold and not use your crypto. The entire idea of it being a p2p currency is now controversial. I’m not sure if I have lost faith completely in Bitcoin, but I can tell you that if it was being pushed as a store of value when I discovered it, I wouldn’t have gotten involved at all.

jakdanyel

sr. member

Activity: 1666

Merit: 304

kycfree

If we stop believing in Bitcoin and stop demanding it in any way, it will affect Bitcoin in a really bad way. Above all else, it will affect the price very highly. Because if there is no demand, Bitcoin price also can't have good days and it would start falling down quickly to very low levels. The demand is one of the most critical factors for a cryptocurrency to maintain its existence.

Mr.sprin

full member

Activity: 1554

Merit: 123

Buzz App - Spin wheel, farm rewards

trust in bitcoin is growing rapidly at times like this, even bitcoin has become a currency in one of these countries, this is a sign that in the future bitcoin will be more trusted in other countries, so that bitcoin trust in the future will increase and even beat fiat in my opinion.

Cryptmuster

legendary

Activity: 1904

Merit: 1176

Glory To Ukraine! Glory to the heroes!

Quote from: traderethereum on October 05, 2021, 01:54:08 AM

But as long as the physical things are still available, people will still use them daily.
I admit that maybe we are transitioning from the traditional way into the digital way since many things become virtual and with virtual, we can reach many things.
Bitcoin will become a precious thing in the future because not many people will have many bitcoins in their wallets while the early adopters already have many Bitcoin.
Gold itself can be a precious thing or a rare thing because the material to be gold will not last forever.
People are free to stop believe in bitcoin if they can not get bitcoin and are desperate to have bitcoin in many ways.

People always want to get valuable things, many people want to get gold, but not everyone has a lot of gold. It will be the same with bitcoin, most people will have very little bitcoin, just a few satoshis. Someone will have several bitcoins and they will be wealthy people, bitcoin in the future will be like a jewel. People may not believe in gold now, but its value will not diminish from this, the same will happen with bitcoin.

vanessacummings

newbie

Activity: 29

Merit: 0

Though it is unlikely to happen, if people stop believing in Bitcoin, it will lose its value. After all, it's all about the faith put by general people like us, especially when it comes to something decentralized as cryptocurrency. Since we are highly disappointed by fiat currency losing its value over time, I think people will stop believing in it rather than Bitcoin.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: wajik-tempe on October 04, 2021, 08:21:58 PM

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Every aspect in this current world condition is virtual right now, everyone is doing work from virtual, doing meeting virtual, even the signature are digital signature. So i think, the world towards to digital world where pysical asets is no longer so much valuable. Rare virtual assets like bitcoin which have limited supply will be so much valueable in the future if we look at the current world condition.

But as long as the physical things are still available, people will still use them daily.
I admit that maybe we are transitioning from the traditional way into the digital way since many things become virtual and with virtual, we can reach many things.
Bitcoin will become a precious thing in the future because not many people will have many bitcoins in their wallets while the early adopters already have many Bitcoin.
Gold itself can be a precious thing or a rare thing because the material to be gold will not last forever.
People are free to stop believe in bitcoin if they can not get bitcoin and are desperate to have bitcoin in many ways.

wajik-tempe

sr. member

Activity: 1022

Merit: 252

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Every aspect in this current world condition is virtual right now, everyone is doing work from virtual, doing meeting virtual, even the signature are digital signature. So i think, the world towards to digital world where pysical asets is no longer so much valuable. Rare virtual assets like bitcoin which have limited supply will be so much valueable in the future if we look at the current world condition.

Wawa2013

sr. member

Activity: 1666

Merit: 268

Quote from: markdario112616 on October 04, 2021, 02:38:51 PM

Well definitely count me off on this one Grin

Beliefs are sometimes misinterpreted even there is already a lot of evidence available.
So yeah, would can this happen? Probably NO, Haven't you seen or feel the capabilities of Bitcoin itself? If not, then you are missing something big. Big in terms of opportunity. You wouldn't ask this one if you have been already. Bitcoin has no gold, but it has value, a value that is worth more than some of the available physical tradable items. Bitcoin is not gold, it's an ongoing innovation and the future.

People who are knowledgeable about Bitcoin and have experienced the benefits of Bitcoin, impossible to stop trusting Bitcoin. How can I stop
trusting Bitcoin, if Bitcoin has changed my life for the better. This means that Bitcoin has provided tangible evidence, that Bitcoin is indeed valuable
and worthy of trust. It seems that people have stopped trusting Bitcoin, because they don't have enough knowledge about Bitcoin. If we study
Bitcoin properly, then try investing in Bitcoin the right way, we can definitely make a profit from Bitcoin. Then it would be unthinkable to stop
trusting Bitcoin.

taufik123

legendary

Activity: 2716

Merit: 1855

Rollbit.com | #1 Solana Casino

Quote from: uneng on October 04, 2021, 04:03:10 PM

-snip-
I believe what backs bitcoin price is its functionality and efficiency for its adopters. But as soon as it becomes obsolete, the price will fall.
On long run (for the next 2 decades I suppose) we are safe, however we must keep in mind nothing lasts forever and OP's observation is valid to help people develop a critical sense regards bitcoin.

yes sometimes critical thinking about the current state of bitcoin is necessary. nothing will last forever.
Some people may start to stop believing in bitcoin, but others will start to believe and the cycle will continue.
gold and bitcoin also cannot be equated, because they have different properties. Bitcoin being the most valuable digital asset today, bitcoin is able to create an uproar throughout the world when it continues to reach its highest price. still a speculative asset and a lot of manipulation going on. Bitcoin still has a good future and continues to be developed.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: Sifat Redwan on October 03, 2021, 06:32:08 PM

Bitcoin has no physical presence. What if we just stop believing in bitcoin. I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

It's definitely not going to happen, but as we are talking as if, it's pretty sure in that case bitcoin price would drop to zero, as this market works fully in function of simple supply and demand rule, without any external possibility of manipulation or interference.

I believe what backs bitcoin price is its functionality and efficiency for its adopters. But as soon as it becomes obsolete, the price will fall.
On long run (for the next 2 decades I suppose) we are safe, however we must keep in mind nothing lasts forever and OP's observation is valid to help people develop a critical sense regards bitcoin.

Topic: What if stop believing about bitcoin ? - page 6. (Read 1000 times)