What if stop believing about bitcoin ? - page 8.

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

What if we just stop believing in bitcoin.

Bitcoin is not imaginary or a fairy tale for you to believe in it or not. It exists and it does provide a valuable utility that can and is being used by many people all around the world.

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I mean every country has the equivalent of gold to their fiat.

No they don't. And have you even seen or touched that gold? So how come you want to touch bitcoin to believe it but you don't need any "physical" proof of this claim of yours?!!!

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Bitcoin has no gold or physical value.

Now you are just inventing words. There is not such thing as "physical value".

magnum1010

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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 ?

If you asked my teacher of economic at the university about this, he would just grin and asked you in return what gold is backed by. And if you consider this question, you will understand that actually everything depends on people, if they decided that it is valuable and can be used it acquires a price straightaway, so another your question what will happen if people stop believing in Bitcoin is more correct. And personally I hope that it is unlikely to happen as Bitcoin is a part of our modern economy.

michellee

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I do not want to stop believing in bitcoin because bitcoin already gives benefits to me and I still want to use bitcoin and prepare for my future. With what already happened to bitcoin, I do not think that the country will stop using bitcoin because I think they already benefit too. People themselves will use bitcoin, so as long as bitcoin still gives an advantage to them, they will still believe.

As long as the internet is still available to us, bitcoin will exist and reach more people. The digital era has come and I think we need to adjust ourselves to accept it to reach the next era and grow and that will happen to all countries in the future.

Chato1977

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if this will come , at least let me sell all my coins first ok? Grin

bitcoin will be here , but of course the chance of believing in other coin in the future is there but at least adoption must happen first around the globe.

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Well, if we were all to do that then expect the prices from crashing down but it's wishful thinking, something that's catastrophically influential has to happen first before anything else before everyone would agree not to believe in bitcoin anymore.

but the question is , how many of the word us will be there? i doubt many as the one who will remain trusting bitcoin.

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Yes, this will happen but not too soon. It happens to every currency. So it will happen to Bitcoin also. There will be a particular time in the future when there is a better technology that could be used with more convenience and efficiency than Bitcoin. By that time people will jump into it and decide to simply stop using Bitcoin.

This is the same with fiat. Fiat was also welcomed when it came out as a better money several decades ago. And then here comes the crypto technology which offers a better and more sound money.

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This is one question that would definitely makes someone stop and think about it for such a long time. I mean the consequences of one acting to this notion of losing one belief in Bitcoin. When you lose belief in something, then the only thing you can do is to stop thinking about it, and stop doing the things that you do before when you believe in such an asset. Now that you do not believe in Bitcoin, then the best thing to do is to stop participating in exchanges, uninstall all your programs and apps, and stop talking about it altogether.

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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.

Physical appearance does not correlate to value. A currency like fiat has physical cash notes, but it doesn't have any intrinsic value besides what is placed on it by the nation's economy and banks, who can always print some more.
Physical presence does not also affect believe, no one needs to hold Bitcoin to understand how the network works, but hypothetically speaking, if everyone did forget about Bitcoin, there would be no trade and as such it would have zero liquidity and lose almost all of its value.

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

I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

Not every county has the equivalent of gold to fiat, and Bitcoin is a decentralized network, it cannot own gold.
What do you mean by physical value? The world is going digital, not everything would be tangible and that's a good thing.

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

Bitcoin has no physical presence.

What you say is relative. It is present on the Internet, in the same way that the web page you are viewing is present on the Internet as well.

Are you going to stop using email and go back to sending letters instead because email doesn't have a physical presence?

Nonsense.

What you doubt whether it will make you stop believing in Bitcoin is part of the key to its success.

Rajamuda

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Don't assume the things that are impossible, even though Bitcoin does not have a physical presence, but it has been proven that the more interest there is... it becomes more valuable and equivalent to the exchange rate of gold on fiat.
This life from time to time will lead to a more advanced direction (modern era), and there will be new things that appear, including Bitcoin which has been proven to attract many people's trust. I think it's hard for most people to lose their belief in Bitcoin and the things that come with it.

Ausgewielt

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I think it will not happen. many people who use bitcoin are disappointed with fiat money because of its inflation. I am not sure that fiat momey is really equivalent with gold. The fact that gold price always rise is a proof that something is not correct. I am here because I looking for alternative currency which cannot be controlled by central authority where I can get real freedom.

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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?

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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 ?

Don't use that word in general because Only noob or non believers of crypto will have that thought .

WE? lol just you and someone like you who will have that thinking .

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I will never end my belief in Bitcoin , Please spare me from this thought .

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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 ?

Bitcoin is not about belief or trust.

Bitcoin is trustless. Permissionless. Borderless.

It is the only currency which you can send your money to whoever you want, when you want. You don't need to trust anyone, neither to tell anyone, nor ask for permission.

People use bitcoin because it is useful, not because people believe in it.

Belief and trust is for fiat currencies.

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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 ?

Why should anybody believe in such a dark situation ? Bitcoin is a cryptographic currency who may only exist in the internet, it wasn't created to have a physical value.
Stop believing in bitcoin means that we shut down all the active nodes and erase all the stored blockchain history. Logically, it's possible. But in fact, this is almost impossible even if we succeed to shut down internet and electricity in the whole world.
By the way, not every country has the equivalent of gold to their fiat. Almost all of them haven't this equivalence. FIAT money still exist because of the large adoption and not because of the gold equivalence, and bitcoin already has that large adoption without being backed by anything.

batang_bitcoin

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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.

Don't include me with that if question that's being made on your mind. There will always be the believers and there will be non-believers.

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

I mean every country has the equivalent of gold to their fiat. Bitcoin has no gold or physical value. Can this ever happen ?

You mean gold reserve? Bitcoin has no physical value and that's why it's a digital asset that we're owning right now. It might have no gold as its reserve but the value itself is a composition of many things, one is coming from the power consumption through miners and next is through the demand of it.

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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 ?

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