Topic: Why HODLers now pray for banks and institutions to enter if Bitcoin... (Read 633 times)

However the ideology of bitcoin is based on decentralization. However there has been ambuiguity regarding the decentralized nature of few coins which are not the original bitcoin but the forked coins namely BCH and other coins which dont even have that much capability of mentioning. Those coins are controlled by the so-called whales RogVer and Craig.

In true sense decentralization is possible in the design of bitcoin only. Other coins are not completely like that even if they claim to be.

Giving the majority supply to bankers does not mean it became centralized at all.

Remember... when the price of Bitcoin goes down, it isn't really happening that way. What is really happening is that fiat is going up.

Everything is money. Hodling is simply another way of saving a certain kind of money, just like saving some gold and silver, and investing in some land, or anything else invested in... like a business.

Cryptocurrencies were supposed to free us from banks and their fiat currency, but many of those that are waiting for those institutions to come to the market and to save them only care about the value of cryptocurrencies compared to fiat, they do not really care about the market or about its progress and as the market of cryptocurrencies becomes bigger you should expect this to be more common.

Too bad that most investors want institutions and ETF approval to get into the community with hopes that their involvement will push the price of Bitcoin up and perhaps to a new ATH.

When people are disappointed with decentralization, they will inevitably move in the opposite direction. Although I don't think centralization is bad for crypto, it seems that crypto hugs centralization may change the market.
In other words, centralization and decentralization may not be contradictory, it only depends on when it is good for crypto.

The more money that comes in the more money will go out as well.

People are waiting with a high level of panic because they feel their dreams of getting rich in 1day with bitcoin was a lie and now they are sorry for it. They are ready to sell as soon as price rises again. Basically they are captalising the fear and uncertainity being fed by no-coiners and market manipulators.

However the chances are very slim as to how much traditional financial systems would accept and allow bitcoin. Regulation is not easy to do and neither is running an economy.

Yes, you're right with what you said and I so agree that the banking insitutions will pump in more money into bitcoin market but the one reason why most hodlers want the banking institution to step into bitcoin is because their involvement will give old, new and yet to invest investors more confidence in bitcoin. However, it will work just like the government endorsement of bitcoin.

Maybe to get protection from institutions ? There are many crypto holders has been scammed by the others.
and they already lose their money much because of that. But this is only my opinion.
The fundamental aspect of crypto is decentralized, so as long it keep decentralized, it is ok for institutions to enter.

The more money will come in to bitcoin, the higher the price is.

This is the reason why many wants to see institutions and bankers to start getting into bitcoin. We all love to see the price of bitcoin increase once again, we've been into a very long dip and this is the hope that's being seen.

But if these banks will step in, there's nothing new with the old system even though they'll get in and adopt bitcoin. They do charges usually with their transactions and operation.

Typically the speculative market traders are looking for money to enter the market. It is what the market is lacking currently, new blood needs to enter so that others can sell and come out the market. They are the people who are trying to create this atmosphere because they are at a loss and need to sell to short their bitcoin.

If that will be banks then you are in a delusion because that is not happening anytime soon. At the most we can have an ETF coming soon next month.

Those who dont care about the short term gains are peacefully sleeping this bear market. No use of speculating, because it leads nowhere if you know what I mean.

I think hodlers wants to see a massive adoption on that view, because without new investors, bitcoin will stagnant and stock at this rate of dip. Meaning the only one way that will surly can save them (hodlers) are a massive adoptions from banks and institutions.

Nope, don't care what banks do.

Sure, long term alts don't on average perform better than bitcoin though, or else its market dominance would be continually in decline. It's held pretty steady around 50% for some time which is impressive as more alts are added each day.

You're probably right about the majority starting as get rich noobs, I can say that my motivation for buying bitcoin at first was definitely financial. I did research bitcoin a little but I have learned a lot more since then. It's easy to forget your own beginnings and lament the people who are in the same place you were, just a few years further down the line.

From investopedia:
What is a 'Ponzi Scheme'?
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn't enough money to go around, and the schemes unravel.

Argumentum ad lunam: the fallacy that because Bitcoin's price is rising really fast the currency must be a speculative bubble and/or Ponzi scheme.
-Vitalik Buterin ca. 2016


Where in any legitimate and sourced bitcoin literature is there ever found a "promise of high rates of return with little risk to investors"? I've never seen it. I'm not saying there aren't those out there who have promoted/shilled this belief to naive n00bs and those in it for a quick buck, but this is very far from unique to only the crypto space, it happens everywhere. One smartens up or faces the consequences, that's life. The value of a bitcoin has never been and will never be congruent to any value of a fiat. They are two different things.

The argument that exchanges are guilty of or responsible for promoting the "ponzi" does not make sense to me... it goes straight back to one of the most fundamental tenets of crypto; if you don't own your private keys you don't own your bitcoin. Likewise, if you trust anyone or anything (exchanges included) to dictate to you the value (monetary or otherwise) of a bitcoin besides your own experience and expansion of knowledge/understanding in regard to it, you are precisely as potentially doomed as handing your private key to another. In other words, it is not the exchange's fault or responsibility to ensure I handle my crypto wisely, it is mine and only mine, or else it is not my crypto.

When I found crypto it wasn't the idea of generating a fiat return that drew me in at all, it was the awesomeness of what I was experiencing with it... being able to transact freely securely and if I wanted anonymously any time anywhere. It was true freedom to me, to not have to bow and pay homage to some hugely corrupted system every time I wanted to exchange some measure of value with another person or for another measure of value. It was in fact quite the opposite, the idea of never returning to fiat that drew me in, harhar. I have never exchange a single crypto for fiat, not sure I would or could. If bitcoin were back to $20 today honestly it would make zero difference to me except I'd have more, but I don't see that happening. I feel very certain that as time goes on and we continue to develop solutions and community it is only possible that more people come in to this same realm of experience and autonomy and self-empowerment. A big part of this experience definitely was exchanges for me, and yes I lost some $ in the process of gaining that experience, but I gained way more understanding than $ lost.

There will only ever be 21million btc in existence. There is a very firm limit set to the number of bitcoin ever to be in circulation. At the same time these days it can be fairly stated there will never be a limit to the number of USD or any other fiat in 'circulation', at this rate there will be infinitely many USD circulating by 2030 lol. So how could this possibly be a ponzi and unravel if there is essentially no limit to how much usd could potentially enter? Further, right now bitcoin has a lower market cap than the company Costco. Given the potential use cases bitcoin is facing, I consider this less than a drop in a bucket to what it could be.

Then obviously the theoretical question arises; what happens after 'mass adoption', when BTC and crypto are used and respected as much or more widely than fiat systems? What does the USD value of a bitcoin mean at at that point? Nothing? Then does it collapse? I can't say bitcoin will ever be the end-all-be-all solution, but I do think it can play a foundational role, and I do believe that with time and a strong supportive growing community a crypto/blockchain-based ecosystem could be developed (is already well-underway, actually) through which a truly reasonable efficient practical and beneficial solution to any applicable need on earth could exist or be found. I wouldn't even promote doing away with fiat, I think a healthy balance can be struck at some point beneficial to both 'systems', and I think it's important for generations to come to have the freedom to pursue and discover either as they will and want.

As far as the hope or not that banks and institutions buy in... I do not care, it is not my choice or issue, it is theirs, or more precisely it is the choice of each and every individual person responsible and with a defined/contracted role in making that choice. Blockchain helped us find solutions free from centralized structures and corruptible 3rd parties... It could only be a detriment to such a discovery and gift as we have found and helped build to deny it to any other person(s) interested in experiencing the same.

No doubt, IMHO mean-reversion is $1400, but it could also very well go down to $400, but that is still astronomic compared to the days that 50 btc bought one pizza.

BTC is/was for geeks, and these morons&idiiots that trade BTC & HODL are getting what they deserve, ... to be economically raped, and removed from the food-chain for their stupidity, and in time the GOV will go after the exchanges and imprison those who turned BTC into a PONZI.

i am pretty sure the "bloodbath" for the bitcoin hodlers will get bloodier and bloodier

Maybe its because they buying coin at highest price and right now their portfolio drop more than 90%. They hoping banks and financial institution will injecting billion dollar in market and make the price reach highest again. Hodler should be patient with their investment because i think crypto is long term investment

This is a free market, everyone who want's to enter can join specially Banking institutions. They have deep pockets which means more money can be injected into the ecosystem that may push the price to another level.

We know for the fact that banks wanted to always makes profits so it makes sense for them to enter as well. I also don't think that HOLDers are praying for banks to enter Bitcoin, maybe want they wanted is for everyone to enter and Bitcoin be adopted globally.

If we look at most of the newbies here, then they don't really mind the risk considering that they have been going nuts on shitcoins to find the next Bitcoin or Ethereum. If you also add that most people by now have figured out that pretty much every altcoin goes up more than Bitcoin does percentage wise, it's an easy choice for them.

In the end, it takes time for people to appreciate why crypto has value in the first place, which is why bear markets are great. Instead of focusing on gains, they can now read into Bitcoin for example, engage in discussions here, etc. Almost every person here started as get rich quick noob, people often tend to forget that.

I don't think any actual bitcoin hodler is praying to anyone, needless to say, to banks and institutions to start buying.

The question is: What does it matter? We cannot avoid banks and institutions getting in. We cannot avoid they creating futures, to dump the market, then ETFs and BTC settled platforms like Bakkt, to pump into $100,000++. It's just how it goes. If there is a demand for it and there is definitely a demand, these products will arise and will make it easier for people that want to exposure to the market but are too incompetent to deal with private keys.

Only when fiat collapses and people start seeing their wealth lost/confiscated to save banks they will learn about bitcoin and freedom.