Topic: Why We Are Still So Damn Early With Bitcoin .. (Read 253 times)

The longer down the road we go the less multiples it might grow, growing from 100 users to a 1000 users was easy.
Going from a million to 100 millions will be a long journey, and the more you invest and have the less multiples it needs to increase in value for you to sustain a comfortable living.

TBH I cannot see them banning mining because Bitcoin offers such a great INVESTMENT
opportunity that powerful people will want a slice of the 21 million Bitcoin cake.

We all know what the benefits are that Bitcoin offer and those benefits are not going to
change so definitely more and more people
will want to tap into those and benefit form them.

Its just a matter of time.

We have already seen top business people do a 180 on their Bitcoin attitude.

There was also a time where a lot of peoples outlook was that they had missed the boat
because of the amount of Bitcoin already mined but that isnt an issue anymore. In terms of
the future investment which Bitcoin is going to attract we are so damn early here and now!

Because there is a factor of uncertainty that we don't know, that is, we can't predict what the future will look like, that makes us decide to make such a decision. It's reasonable that most people think and decide that way because the human lifespan is so short, assuming most of us die at the age of 80 (this is very rare nowadays in most countries of the world).

And even though we could use Bitcoin as an inheritance for our posterity, we prefer to cash out the Bitcoin when we can make the most profit, which we can see later at the time of the highest price increase. We will wait for the price to decrease until it hits the lowest price again to buy and that will happen continuously until we die and finally, we will pass it on to our children.

But as we know, we already have a plan about how we use our Bitcoins. Are they going to keep their Bitcoin for 50 years, 100 years by giving it to their children so they can continue what their parents did to Bitcoin or until our whole life and finally we don't do anything to the Bitcoin we have.

So it's going back to each of the people who have Bitcoin. Our lifespan is very short and we cannot enjoy the Bitcoins we have forever. The longest we can enjoy is up to 80 or maybe 90 years. After that, we die. And it's only natural that people have that mindset.

Everyone has their own hustle, their own grind, and their own motivations for entering the crypto landscape.

You're correct that some individuals may sell Bitcoin due to FUD, while others may simply need to place food on the table or pay off debts. Investing in Bitcoin, or anything else for that matter, is not a one-size-fits-all proposition. Each person's voyage is distinct.

Therefore, lets not judge too quickly. Instead, lets disseminate some positivity, some love, and perhaps some crypto knowledge. Because, ultimately, we're all just attempting to make those green numbers rise.

I understand the OP's point of view; similarly to how we didn't know back in 2010 that Bitcoin would skyrocket and exceed prices of $60,000, we don't know what may happen in 2025 or 2030, and so on. The possibilities are endless, but it doesn't necessarily have to go positively; it can go both ways, one of which is what this user has suggested, and I totally agree. They say that there's no theoretical limit, but in practice, it can't rise forever.

Generally, a small percentage of the total population knows about Bitcoin, and an even smaller one possesses over 0.01 BTC, which shows that we still have a long way to go to achieve any kind of mass adoption, which in my opinion will never occur because Bitcoin is now seen as an asset and an investment rather than a currency, which was its original purpose.

There's only one way to find out: patience.

Yeah, but the tone is different!
In those times you only hear rockets, moon, we're going to hit 100k, 200k, everyone cheering, wine glasses, champagne bottles everything.
In a bear market it's more like, there is still room to grow, it will for sure go up, ETF is coming, Wallstreet is secretly pouring money, rather than everyone parting is like everyone seeking reassurance that things will get better, instead of champaigne flowing is more like a stench of soiled pants! 


If they ban mining it won't be that much of a problem, we could still find enough cheap energy to keep this level of hashrate high enough to guarantee the safety of the chain, of course, we won't be able to find 4x-5x times more, which is going to weight a lot when it comes to confidence, you can't have a 10 trillion blockchain guarded by machines worth 100 million, it's inviting troubles!

If trading is banned, then we can close the chapter of getting rich by holding coins, with all the wealth that matters getting spooked from investing it by bye trading and investing and back to the original, a p2p cash system, like Satoshi wanted! No more no more moon, no more billionaires from shitcoins but good old and boring payment system!

So, at the same time, not really that bad and not that great either!

And I think one of the reasons attributed to this slow adoption is because of FUD spread everyday by anti bitcoin users and also the government and another thing again is that bitcoin in a very large is just bought by the rich folks and kept freezing in planning to their investment

You are coming up with the assumption that the Bitcoin price will rise forever and ever.
What if all major countries in the world(USA, UK, EU, etc...) ban Bitcoin trading and mining? Will the Bitcoin price hit 100K or 1 million? I don't think so.
You are assuming that only 1% of the global population are familiar with Bitcoin. Maybe you are right, but is there a valid reason for the other 99% to care about Bitcoin(other than buying and waiting to sell at a higher price)?
Sometimes I have the feeling that most of the Bitcoiners view Bitcoin simply as a financial tool, which was created to help them make more fiat money. I understand this mindset, but there's something wrong about it.

I guess it is similar to the threads that appear in bull market that give a higher and higher prediction. I remember at the end of 2021 it was not uncommon to see $300,000 predictions for this cycle on the forum. And outside the forum as well.


I understand the message you want to convey, but I believe that real price increases in the future will be slower. Assuming $20 for a pizza today is 0.00077 bitcoin. By 2036 I doubt that 0.00077 will be as valuable as 10,000 bitcoin is today.

With the generality of the message I agree. Bitcoin is a scarce commodity that will continue to appreciate and amounts that seem modest today may become life changing, but I would add that for this it is better to keep accumulating, not waiting for 0,00077 bitcoin to change your life.

when you decide to become an investor, your goal in investing is to make a profit, but do you have the intention to feel the benefits of the bitcoins you invest in the next 100 or 200 years? of course not, so whatever investors do with the bitcoin they have, that is their right, from what I have noticed, everyone has different problems in their life, as well as bitcoin investors, maybe someone sells bitcoin because of FUD but there are also those who sell their bitcoins because they really need money for something important or they are indeed a trader, so I think your sentence at the end is not very on target.

Well, I can say that not all of us think that Bitcoin is a long-term investment and it has grown year after year. Of course, with the volatility of the market, some people will remain uncertain and never think about the future but rather see only tomorrow and the next few days. In fact, those were my insights before and gradually changed after seeing a huge improvement and continuous price growth of Bitcoin. Most of the time, people change their mindset based on their experience and so like you OP. It was not because of that statement but we believe and trust Bitcoin because we see its performance.

I really have the believe that Bitcoin is still at the earliest stages of inception because not everyone in the world is fully aware of Bitcoin. I can understand the fact that early adopters have had their cake of the market boom at first stance.  It has a long way to go through time to come. This is a generational innovation that has taken shape in the world today.

As you have said, just like gold had existed long before now and would stay till generations to come, so it will be for Bitcoin. As the world begin to clamour for change and alternative means of improvement in all ramifications of the only suitable option would resorts to Bitcoin technology and that would pave way for more adoption process. As time goes on many  side attachment of Bitcoin innovation and creativity would emanate giving it to a good edge to continue booming stronger.

I share the same opinion as you that Bitcoin still has plenty of opportunities dor anyone who cares enough to join the bandwagon but its not early. I saw Bitcoin at $500 couldn't buy (I would have, if I could  ) , so I'd at least consider that price as being early.

There would continue to be opportunities for newer bitcoin adopters even if the maximum supply cap is hit and that's not going to happen anytime soon too.

You're saying that if 99% of population converted to Bitcoin believers, the price would explode, but that's a very big if. These days most people who are not too young or too old are aware of Bitcoin. They know that it's some digital currency that goes up and down. And they are not interested. They are satisfied with fiat currency.

So while there's a lot of potential for Bitcoin, that potential is not realistic. Adoption is stagnating, Bitcoin is not getting used increasingly more as a currency. The on-chain activity of less than 1 million transactions per day is laughably small compared to transaction volumes of fiat currency.

Not True: You could call it (for example) "one shade of early" but "Damn Early With Bitcoin" does not match up with reality. In the early days BTC flew out of your CPU for free! A bit later the first Bitcoin were sold for less than a penny each. If you do the math, "So D@mn Early" ended a very long time ago. Now, there are still many exciting opportunities, but "telling the Newbies" how early it still is might not be the most honest approach. Sometimes it pays well to keep it real folks.

That is good indeed but the difference between me and those people who only think of getting a slice of cake before it will disappear is that I didn't think that way. As what I can see about Bitcoin, there are lots of things that a person can do with Bitcoin like using it as payment method when doing a transactions either buying, selling or even lending. People like that will surely miss things that can be done with Bitcoin in the future if they are only like that which is only to get a slice of it and then that's it.

Most people's salary or income is barely enough to live on. And these people want more. It is their right to ask for it. But when there are no more jobs or higher salary options left, all that's left is to invest. This brings us to the answer to your question. People want good things to happen immediately or in the short term, not in the very long term. That's why they can't keep Bitcoin or other cryptocurrencies in their wallets for very long. Now they sell their crypto and try to live that life as soon as they get a chance to live a little better than theirs.

We don't know how long our lives will last. We know that some cryptocurrencies will reach very high levels in 10 years, but we do not know if we will live 10 years. For this reason, investors' long or short-term investment preferences will always be different. Everyone lives their own preferences.

The Satoshi may not expect this much demand of Bitcoin after a decade,because now bitcoin was used as the mode of transaction.In some shops people use the bitcoin for their purchase as like the bank transfer.By just scanning the people sending bitcoin to the service providers.Now bitcoin was become a better place to keep your assets as like a gold.Since bitcoin is digital assets,we can't even tracked by the official of government.The bitcoin also used by the illegal transfer, it doesn't mean the bitcoin was created for such usage.

I agree with him, we're early, but bitcoin only based on time and holders. Holders are one of the pillars of bitcoin's demand and scarcity, but they aren't the only forces at play.
Nowadays there's politics, traders, market manipulators, companies like blackrock and microstrategy, banks, whole countries like El Salvador and don't forget about miners who supply us with new coins that need to find their buyers, or the price goes down. Being here and buying for our future is important, but it's also important to disconnect yourself from the noise that people like Musk, or Fink are creating.

If that's the view of riches is what's driving you, know that you may lack the required resolve to hold bitcoin for that long

It's likely that even Satoshi, the creator of Bitcoin, didn't anticipate its current price when designing it for peer-to-peer transfers without intermediaries. The unpredictable path of Bitcoin over the years has shown how challenging it is to foresee its long-term trajectory. While we can't predict its future, historical patterns offer insights into how Bitcoin might respond. It's difficult to envision a swift replacement for Bitcoin, making long-term holders potentially significant beneficiaries in this situation.

And that's why majority might say that it's not that late to invest on BTC right now. You will hear others says that they have lost the opportunity and that those early birds are lucky.
They might be true, but if you look at it, bitcoin is just like 10 years old++, so it is still in the infancy. Maybe there are a lot of things that had happen before and obviously halving is every 4 years so there are a lot of expectations from it.
But if you we are going to look at like 20 years from now, we might say that we are also early birds in 2017-2023.

But you were just saying a few weeks ago we're at 5% global adoption and Bitcoin usage!
Now 99% of the world doesn't have a clue about Bitcoin! Lol!  


So this means every coin that has this limited supply and distributed plan will continue getting more valuable and valuable?
Because if you say
yes: - That's obviously not true
no: - Then there is something more important than just the limited supply  



This is a bit stupid, one Brazil Rial is worth 30 yen, does it make a better currency than the yen?
Also, Bitcoin vs. gold, how do you do the comparison? One gram of gold, one kilo of gold?

Reading of posts make very big sense the way I do see it, but I believe that is one of the things that make some people to feel some how the way I'm seeing it, when you fail to read articles written by others people you will be feeling any how, so I believe that the best way to understand something that you don't know is by reading and researching on what to do properly, so many people in the forum learn from others theory of research, that is why we all value here, bitcoin we discussed here many doesn't know how bitcoin works before but at looks of things we learn and understand bitcoin here properly.

I'm fully in agreement that we are still early and majority of people have not yet gotten on the Bitcoin train yet. But we already have come a long way and should not expect the kind of growth we got when Bitcoin was starting up from zero and looking for some sort of value.
Over the next 5, 10 and 15 years Bitcoin will grow tremendously but I read no where as near as what we had over the last 10-15 years and that's normal.

Majority of users here can look towards the next 50 years but not beyond that and they will want to get return on their investment while they are still alive.
How high can it go within that timeframe?

I know it was easy to mine BTC before and if you were lucky you could earn BTC for free, but i don't think the early adopters were lucky or that they earned BTC with a lack of effort, in my honest opinion those early adopters who mined BTC on their laptops and believed in Satoshi's idea of decentralized money did the most work, if they didn't believe in this censorship resistant currency and didn't mine, spend or give it out for free, BTC prolly wouldn't have developed to this level, and the current value of the currency may not have been possible.
I wish you goodluck on that, but don't see BTC as a get rich quick route.

The value of Bitcoin comes from itself, not because 1% or 2% of people on Earth know about it, familiar with its strength. People can use US dollar or gold more than bitcoin but they have less values than bitcoin on market, purchasing powers are smaller than Bitcoin purchasing power.

In cryptocurrency, if you know Bitcoin, you know about Ethereum but it does not help Ethereum to have same value as Bitcoin.

So the value of Bitcoin comes from something else like its total supply, its decentralization and usability.

Yes we definitely are still early users of BTC. Well that's what at least I think. The only difference between early users (2009) and us is: We do not have to options to get more BTC in lesser work. While Back then simple task in faucets could make us 5 BTC or more. Point is, we have to work and get BTC or buy BTC whatever the purpose is same. ---> "let's have our own slice of the cake as quick".

I just made a similar post here in which I said to the OP of that topic that your history book might not run or gain any traffic now as BTC did not become history instead it is still making history and no one likes to read books which consists of half history knowledge.

But the sad reality is we might not be alive to see the mass adoption and how far BTC has went. But hey at least we are enjoying the present.

How many of us really believe that bitcoin will disappear somewhere in a few years? There is more expectation that the opportunity to get your share of bitcoin will become less accessible to many. If anyone reads enough discussions here on the forum, they will see that many countries and large companies are building the infrastructure to support mining for a very long time, and it is unlikely that they are doing this in order to lose everything in a few years. Thus, even if you do not study bitcoin deeply enough, you can draw your own conclusions based on how many very large and significant players in the world feel about bitcoin.

I definitely don't expect bitcoin to go anywhere in a few years. I'm sure it'll be with us for a very long time. Not forever just because nothing is forever.

Every thought is correct and everyone has different thought. For me I have personally derived bitcoin as the onset of my personal financial freedom. I am not even from the technology field yet I started learning about how to perform mining. What is the OS required, how to set up the pool, the hardware and almost every bit of it. It was hard level for me but I did it anyways and kept my learning mode on for Bitcoin.

This might read as indifferent thought and it is because I am that much motivated about Bitcoin and hence I ate Forward to learn it in deep pockets.

This is just start.

Imagine what will happen in the future when there will be students who are passing out with degree in Blockchain or Bitcoin? It would be enormous era for Bitcoin. They will create something so sophisticated that current peeps are not even imagining it right.

It might not even be just dominating financial market but could change entire face of the monetary system.

We are still very Early in fact we are like the first colonizers.

What I think is that for a lot of people, their perspectives have begun to shift from how much they're in dollars their bitcoin holding is worth to how much bitcoin they have and could keep accumulating. As the world is getting more educated about bitcoin the shift is going from bitcoin could make me rich to if I hold it long enough my generations would never have to live off of fiat for the rest of their lives.

Everyone who is in bitcoin must see the potential and views must also be put forward to believe that this system is far more perfect than any system that has ever existed before. The limited amount of supply that cannot be manipulated, the tendency to maintain value and resistance to inflation and recession are its strengths. This is where the added value makes bitcoin look different, but its advantages and functions will not provide any results for everyone who is not involved in it because bitcoin needs a process in terms of supply and demand to stay alive.

Forming a belief in bitcoin is not easy, it requires consideration and scrutiny through knowledge so that when you decide to accept bitcoin as an investment, you are no longer talking about the risks and impacts, but how to try to minimize these risks to achieve profits. Remember, if bitcoins were worthless in the past, why are they one of the best investments today the answer is in each of us.

There's nothing wrong with thinking about taking part as quickly as possible before bitcoin disappears because any product has its time and in the end no one can guarantee how long bitcoin will last. This kind of thinking does not substantially show the strength of bitcoin in the future because if you look at the process, something that is of value is definitely influenced by demand and supply, but it is important to gain trust and more potential answers, why can bitcoin survive in the long term.

I came across this post on X, the post was made by a user by the X handle Bitcoin_apex, I found this post really thoughtful and decided to share the same here ,the post indeed changed my reasoning, that is, what may perception or perspective used to be when ever the discussion of how early we are with Bitcoin comes up ..

Let's all read what Bitcoin_Apex has to say ...

Every Bitcoiner knows about the famous 10,000 Bitcoin for two pizzas (~$40) - the exchange in 2010 where Bitcoin was first used as money.

Even though 10,000 Bitcoin now means complete financial freedom, many people see this as a reason to believe that the Bitcoin train to financial freedom has sailed.

This is not the case, and the answer lies in Bitcoin's monetary policy. Bitcoin Pizza Day happens many hundreds if not thousands of times every single day around the world. What was 10,000 Bitcoin in 2010 is ~150,000 Satoshi today and 10,000 Satoshi instead of 10,000 Bitcoin for two pizzas in the not too distant future.

Due to Bitcoin's absolute scarcity and clearly defined inflation plan that can always be determined in terms of time, it cannot be otherwise than that a unit of these 21,000,000 steadily becomes more valuable and thus fragments of these units as well.

Not even 1% of people on the planet are familiar with the fundamental strength of Bitcoin. Over 99% don't know anything yet. The halvings can NOT be priced in if 99% of people don't even understand Bitcoin.

Bitcoin as network effect and the economically highest incentive structure that a money and commodity has ever been able to achieve since humans have existed, will create extreme demand and need, so that the one percent will become 2, 4, 8, 16...

We spend 150,000 Satoshi today. Maybe even for two pizzas. In the year 2068, those two pizzas will be a whole block subsidy and certainly more than 1% of humanity will have discovered the final step in the evolution of money by then.

We're not even in the infancy of this Bitcoin evolution, we're only just putting it on.
The end..



What thing I've leant from this comment is to be long sighted when it comes to Bitcoin , many of us investing in Bitcoin are short sighted about it, Bitcoin has the power to live and become as old as gold is, think of what the value of Bitcoin would by the time it becomes 50 years old , 100 years old, 200 years old and even more with a limited supply of 21 million coins? Many of us are investing in Bitcoin with a mindset like "let's have our own slice of the cake as quick as possible before Bitcoin disappears in a few years to come", what an error 🙃..

Freely chip in your thoughts/contributions .