What most beginners don't get about Bitcoin

justdimin

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Quote from: Davidvictorson on September 18, 2024, 04:06:09 AM

I just made read a similiar thread and I think my comments there will also be appropriate here. In my estimation, bitcoin is bigger than any individual or entity. So whether the election is won by kamala or Trump, it wouldn't hurt bitcoin. Those people who think that it will be the end for bitcoin, here's for you from my previous comment, I think that bitcoin has gone the stage where a single individual or entity can crash its price. This isn't 7 years ago. We have gone past that now. And now even a hundred tweets from Trump or the outcome of the election on Nov 5 isn't doing nothing.

I do agree with this, it's bigger than even nations, because even if it's banned in one big nation (which we had with China already) it still keeps going strong, it doesn't care about just places or regions or people, we still continue to do well and that is why I think we are going to see bitcoin do fine in the end.

We should realize that the best thing to do right now would be just focusing on how we individually could benefit from this and as long as we can find something that we can benefit from them it will not be an issue and we are going to do just okay. Of course it is not going to end up with that much trouble at the moment but we know that it is going to be an issue and we can't do that crazy right now, just focus on what we can do with what we have and that should be fine. I understand that it is going to take some time but that is why I believe that the best thing to do right now would be just focusing on how to get better results whenever we can.

lizarder

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

This is a small gift to everyone bitcoin investors that still believes that if a supposed cruel presidential candidate gets to the throne of the US president it will be the end for Bitcoin, I have too many people screaming this in my ear and I am sick of it.

This will be a separate agenda in the election and perhaps certain candidates will be the most frequently raised issues and the US as a large country will be the center of attention. So in a much bigger case, it is better to ignore everything because bitcoin has found its own way even though it has been shaken by various problems that have emerged and been linked.

Quote from: Outhue on September 16, 2024, 08:05:24 AM

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

Let's see what unfolds by Nov 5 and into 2025, history will repeat itself and there is nothing any powerful being can do about it.

We know that Bitcoin has gained widespread adoption all over the world even though there are still some countries that ban Bitcoin but that doesn’t stop Bitcoin from growing. Negative issues can never be avoided now but people are getting smarter in dealing with such issues. So the only concern why people easily get caught up in such issues is because they don’t understand Bitcoin from its inception until now. Whereas they can see historically how Bitcoin has shown quite significant improvement in its journey.

Fud and negative new that emerges may affect it a little but in the long run this is not a big problem. Rather than being too busy thinking about the problem, it is better to focus on collecting so that at the next ATH we get maximum profit from the investment that is being undertaken.

chr1stian12

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But you also have to consider every investors that also own bitcoin. Unlike any other politicians way back then that really affect the flow of the market as to compare today that many investors are owning bitcoin. I don't think politicians can take bitcoin down that easily.

Finestream

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Quote from: BitcoinBarrel on September 16, 2024, 01:55:32 PM

The end of Bitcoin will come when they shut down the internet.

And you can best believe they would love that.

True. Bitcoin will only come to its end not because of someone influential but because the world is definitely shutting its internet down. And I don't think that's going to happen in the future since the whole world is already dependent into the internet to make lives more comfortable and convenient. Which means bitcoin today might already stay for good as long as the internet is always available.

adzino

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

This is a small gift to everyone bitcoin investors that still believes that if a supposed cruel presidential candidate gets to the throne of the US president it will be the end for Bitcoin, I have too many people screaming this in my ear and I am sick of it.

-snip-

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

Let's see what unfolds by Nov 5 and into 2025, history will repeat itself and there is nothing any powerful being can do about it.

This is nothing new here in the crypto world. People act like if a certain "evil" candidate wins the upcoming election, Bitcoin's going to disappear overnight and once again "die" (like it has happened in the past millions of time according to them). But honestly it doesn't really matter who's wins the elect and is in the office. Sure, the market might go up and down a lot (which is very normal for volatile assets) for a bit right after the election, but those effects are usually short lived. Prices might skyrocket or dip, but they always seem to correct themselves eventually. That's just how decentralized markets actually work. So yeah, no need to stress too much about politics. We have seen the best and the worst and bitcoin still lives.

glendall

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Quote from: BitcoinBarrel on September 16, 2024, 01:55:32 PM

The end of Bitcoin will come when they shut down the internet.

And you can best believe they would love that.

If they stop internet access, believe me the world is not okay, maybe on the verge of extinction and there will be no more life on this earth, as long as lust still blows then the price of bitcoin will continue to rise and fall whoever the president is later

Smartprofit

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Quote from: coolcoinz on September 16, 2024, 02:18:23 PM

IMO this is a conicidence that a bull market comes in 4 year cycles, just like US election. The way I see it, halving decreases the amount of bitcoin being sold by miners and increases the price at which they have to sell, which impacts the total price, but it doesn't happen immediately. New coins have to be mined first.

No US president has ever done anything good for bitcoin and I doubt this one will, yet we always had a bull market.

In my opinion, an event such as halving should not lead to an increase in the price of Bitcoin after the event (after the occurrence of the event called halving).

After all, the result that the occurrence of this event will lead to is known in advance. All investors know in advance about an event such as halving, and they also know about the effect of this event (this event should reduce the supply of Bitcoin and, accordingly, create unsatisfied demand).

Since all this information is known in advance, this effect should increase the price of the first cryptocurrency even before this event (before the occurrence of the event called halving). After halving, this event should no longer have any effect on the price.

If the result of the event is unknown in advance, then the occurrence of this event can affect the price of Bitcoin....

This is probably what is happening in the situation with the presidential elections in the USA. After the elections, independent observers - Bitcoin investors are clearly convinced that no negative events regarding Bitcoin have occurred (the new president is not trying, for example, to ban Bitcoin in the USA).

And this new information allows the price of Bitcoin to grow, stimulating the bull market.

Shishir99

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Quote from: OcTradism on September 18, 2024, 08:40:30 AM

Searching can help you to find available posts and resources on Internet to confirm information you need. Like this tweet of Donald Trump on Twitter, now X platform.
https://x.com/realDonaldTrump/status/1149472282584072192
Rather than screenshot it, I quote its content.

Quote

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

The post is in 2019, five years ago and we can see people can change when they want. I don't argue here about reasons why Trump changed but let's think positively and generally we want to have bigger adoption for Bitcoin. It is not important of reasons why they changed but if they changed from protesting against Bitcoin to be a Bitcoin user, a Bitcoin supporter, it's good.

Thank you very much for quoting this. I have seen this tweet before so I did not rely on the screenshot only which can be faked. I knew Trump as Bitcoin hater before. But, his point of view changed lately. I don't know what is his plan about Bitcoin as some people also saying that Trump will make Bitcoin illegal in the US (Which I do not believe at all). But, I understand a thing that the politicians can give fake promises to get some votes and support. Even if Trump does not support Bitcoin, it won't be a problem for the Bitcoiners.

serjent05

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It has been observed through out the history of Bitcoin, elected president of any nation don't have any effect in the market movement of Bitcoin, unless this person when seated on the position do something nefarious or very good to the market and adoption of Bitcoin. But, so far, we have not seen any newly seated president do that immediately after he won the election. Aside from the El Salvador President who is personally pushing Bitcoin adoption, other president where busy looking and studying their country's internal and external affair.

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Quote from: mirakal on September 18, 2024, 04:00:31 PM

If you think about it, bitcoin has been through years of struggle, yet we’ve witnessed tremendous improvements and a growing adoption rate. That just shows how strong investor support has been—and it’s only getting stronger!

It's probably ignorance that leads to people speculating that bitcoin will probably vanish after soon one attain the US presidential position. I feel the elections impact in the crypto and bitcoin industry is over exaggerated, instead of people finding out what exactly is the catalyst of bitcoin price spikes they just believe that what a nations government decides over bitcoin precedes over the entire world but I guess OP is here to inculcate that knowledge they lack into them.

$weetne$$

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

This is a small gift to everyone bitcoin investors that still believes that if a supposed cruel presidential candidate gets to the throne of the US president it will be the end for Bitcoin, I have too many people screaming this in my ear and I am sick of it.

I believe it does not matter who get elected as the US president as it would not have any effect on what is going to happen to Bitcoin in 2025. We have been experiencing the market fall and rise all through the years but in 2025, nothing is stopping the bull market therefore which ever is in the seat of the president does not matter. Bitcoin is independent of the US election. People saying if former president Donald trump does not win that the bull market would not happen are not familiar with how the market operates and are thinking the market needs Donald trump to become bullish. Institutional investors are the people controlling the market right now and anything they do or say determine what happens to the market therefore we have to be monitoring them to see what they are doing before we take decisions.

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

This is a small gift to everyone bitcoin investors that still believes that if a supposed cruel presidential candidate gets to the throne of the US president it will be the end for Bitcoin, I have too many people screaming this in my ear and I am sick of it.

Actually for now we are too deep when it comes to linking political issues with bitcoin which in the end bitcoin is only herded as an opinion just because they want the votes of existing investors which makes me not too fond of when it comes to linking bitcoin with politics and presidential elections that are currently busy.

Although in the end when bitcoin is mentioned it can be something that will support adoption because at least they hear more bitcoin just because of some conversations or speech narratives given by politicians like this but for the election now it seems as if bitcoin is a struggle for them just because they want our votes to support when in fact it is just a plan of those who do not want to lose this election.
Utilizing bitcoin only for personal gain like this I don't really like it even though in the end we must realize that adoption will be easier if people who have power like this directly speak up about bitcoin but I don't really like them to say that they are the ones who are ultimately able to make bitcoin seem massively accepted.

mirakal

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I seriously doubt there’s any president out there who can stop bitcoin’s adoption. Investors hold way more power and influence than any U.S. president ever could. Honestly, we’re likely to see the same dynamics in bitcoin that we’ve seen in the past. So, there’s no need to worry about who wins the presidential election; we believe they won’t be the reason bitcoin fades away. In fact, it’s totally possible that the next president could end up being a huge supporter of bitcoin instead!

If you think about it, bitcoin has been through years of struggle, yet we’ve witnessed tremendous improvements and a growing adoption rate. That just shows how strong investor support has been—and it’s only getting stronger!

Cookdata

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

Let's see what unfolds by Nov 5 and into 2025, history will repeat itself and there is nothing any powerful being can do about it.

I think now that we have the back of institutional investors now make it even difficult to determine the future of Bitcoin. People like Microstrategy, ETF investors and other institutions companies are buying Bitcoin and nobody knows when they will sell and even the people that are retail buyers are using these bags to speculate the next movement of Bitcoin, and there is also political involvement from the US country, these are factors that make it more interesting.

If anyone want to buy Bitcoin and he or she is looking to plug profit in the next year. I will advice them to use their money to enjoy the life they want to leave or have in the mind because it will take a long time to break many new all time highs, Bitcoin is too big now for little speculation to give it a big move, the moves need to be in unidirection before the ATH can be achievable and that comes with nothing but patience.

MainIbem

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Quote from: kryptqnick on September 18, 2024, 10:54:21 AM

Bitcoin was grounded on decentralisation and financial freedom ideals. It seems unwise to put too much hope, trust, or fear into specific people and governmental institutions of a specific country. The US is powerful, and the US President is pretty powerful as well. But Bitcoin transcends the borders and can be alright during different presidents and US policies. I don't think this election will make a major difference, not in the long run. So, in that sense, I agree with the op showing that Bitcoin has been rising gradually over different US presidents, despite whatever their opinions were.

Yeah bro, I wonder why people would be placing the fate of Bitcoin on some entities, Bitcoin is decentralised in nature and according to history it haven't been controlled by anyone and won't be currently, that's what makes it so unique and special for investors who believe in it's potential, despite the government institutions fighting hard to gain control over Bitcoin but to no avail and it still flourished overtime till this point. Majority are gradually seeing the usefulness of Bitcoin as an asset class hence the mass adoption by various individuals and institutions and I believe in the near future It could become widely accepted globally both for carrying out local and International transactions as well as different use case. People should disregard critics who come up with false points to backlash Bitcoin and jump on it cause it has lots of benefits for the future, those who have been holding for 5 years plus can testify of it's benefits as an asset class.

kryptqnick

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Bitcoin was grounded on decentralisation and financial freedom ideals. It seems unwise to put too much hope, trust, or fear into specific people and governmental institutions of a specific country. The US is powerful, and the US President is pretty powerful as well. But Bitcoin transcends the borders and can be alright during different presidents and US policies. I don't think this election will make a major difference, not in the long run. So, in that sense, I agree with the op showing that Bitcoin has been rising gradually over different US presidents, despite whatever their opinions were.

Obim34

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Quote from: Shishir99 on September 18, 2024, 08:34:54 AM

Quote from: Outhue on September 16, 2024, 08:05:24 AM

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

I have seen a screenshot somewhere on social media where Trump said that Bitcoin is useless or something negative like that. But Trump lately changed his point of view over Bitcoin. Some Bitcoiners calling Trump as crypto friendly guy and they sounds like Trump will help Bitcoin to boom if he get elected in the next us election. But as we all know, the politicians always promise whatever helps them to get some votes from the people. As you said, it doesn't really matter who is going to elected. Bitcoin will have it's own pace.

I'm not from the United States though, but that wouldn't take my interest away entirely from the whole election banters. Now i get to wonder as why the aspiring candidate are so much interested in the Bitcoin community, is it that the community is now populated enough to determine the outcome of the election because this candidates may not have seem too promising at first towards the Bitcoin community but we do believe people changes, that's how the rate of adoption increases. Either any of them becoming the winner at last may not play a huge significant role in Bitcoin, even if we get to see a price hike or down play that can't be stabilized at that point, it must later on drop back to its original price mark. Votes should just be given based on points drawn from economic flows, security levels and other crucial related matters.

Adams0001

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Quote from: Dzwaafu11 on September 17, 2024, 02:59:30 PM

Quote from: Outhue on September 16, 2024, 08:05:24 AM

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

Let's see what unfolds by Nov 5 and into 2025, history will repeat itself and there is nothing any powerful being can do about it.

You are right. The current situation of bitcoin was seen to be impossible, but it happens now, so the thing is that I believe regardless of how they do it and try to bring bitcoin down, it will not happen, and the adoption of bitcoin will continue growing as more people are still coming. Although it will affect the market, as long as it does not affect the future of Bitcoin, there is nothing to panic about, for it will still bounce back.

One thing I believe is that even people that were talking about bitcoin before are now the top people who are holding bitcoin, so whatever they want to do, bitcoin will still remain there because many of these people also invested money in it, and also many influencers have already invested in bitcoin.

Bitcoin is an incredible coin, and nothing will bring it down because people invest in it, and certain countries utilize it as a method of exchange and to support their governments. So nothing can bring bitcoin down unless they don't have Internet, as @BitcoinBarrel claims, and they won't come because technology is constantly improving, so nothing will happen to bitcoin and people will continue to trade and invest with it and be getting profiting.

Some nations have already taken action against bitcoin or cryptocurrencies, preventing them from using it as a means of exchange. However, it is likely that they continue to invest in the unknown. He will be able to function properly on the internet. Every day, more people are turning to cryptocurrency investing because they believe it is a good way to make more money and integrate it with their physical business. So don't be thinking about bitcoin that he will go down or how to be topping your money when you invest since I don't really think that they will acquire anything that will stop bitcoin from operating.

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Quote from: Shishir99 on September 18, 2024, 08:34:54 AM

I have seen a screenshot somewhere on social media where Trump said that Bitcoin is useless or something negative like that. But Trump lately changed his point of view over Bitcoin. Some Bitcoiners calling Trump as crypto friendly guy and they sounds like Trump will help Bitcoin to boom if he get elected in the next us election. But as we all know, the politicians always promise whatever helps them to get some votes from the people. As you said, it doesn't really matter who is going to elected. Bitcoin will have it's own pace.

You don't need screenshots that can be faked.

Searching can help you to find available posts and resources on Internet to confirm information you need. Like this tweet of Donald Trump on Twitter, now X platform.
https://x.com/realDonaldTrump/status/1149472282584072192
Rather than screenshot it, I quote its content.

Quote

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

The post is in 2019, five years ago and we can see people can change when they want. I don't argue here about reasons why Trump changed but let's think positively and generally we want to have bigger adoption for Bitcoin. It is not important of reasons why they changed but if they changed from protesting against Bitcoin to be a Bitcoin user, a Bitcoin supporter, it's good.

Shishir99

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Quote from: Outhue on September 16, 2024, 08:05:24 AM

As you can see, it doesn't matter, the past years was even a more challenging period for Bitcoin because this present wide adoption looked impossible at the time, anyone could easily call Bitcoin a useless invention at the time, but here we are, it survived.

I have seen a screenshot somewhere on social media where Trump said that Bitcoin is useless or something negative like that. But Trump lately changed his point of view over Bitcoin. Some Bitcoiners calling Trump as crypto friendly guy and they sounds like Trump will help Bitcoin to boom if he get elected in the next us election. But as we all know, the politicians always promise whatever helps them to get some votes from the people. As you said, it doesn't really matter who is going to elected. Bitcoin will have it's own pace.

Topic: What most beginners don't get about Bitcoin (Read 655 times)