Topic: Will people ever get tired of trading bitcoin? - page 8. (Read 1385 times)

Alternatives? Do you mean other decentralized cryptocurrencies with no known creator, nor a company standing behind them and with no ties to the government?

I doubt such alternatives will come in the near future, since nobody tries to develop them.

The people want a decentralized cryptocurrency with wide acceptance. The governments want a centralized currency and the business owners want something that doesn't depreciate. It can be centralized or not, they don't care.

How can we even predict what is going to happen in the future, there are just so many options and the chances of picking the right one is somewhat slim. Bitcoin is something different from what we've experienced before, mind you that it wasn't created to be a "trading tool", it is money that should be spent, electronically. So many things will change about Bitcoin along the line, for one its supply reduces after every 210k blocks, Bitcoin will definitely get to the point where it wouldn't be as volatile as it is today, it would be fairly stable.

When that time comes, i don't think get rich quick traders (who want quick price swings) would be interested in it, most of the people who would be interested in Bitcoin then will do so because it is money, money that they can use and control, they'd use it because they can hide some of their financial life from the goverment and law enforcement, a couple of other people would also use it as a hedge; but i'm not so sure if traders would be on that list.

BTC will be tired and forgotten when its no longer unique in its traits and positives, when reliable alternatives are easily available to all elsewhere.  I dont see that being an open possibility for decades to come because FIAT currency has become so associated with debt and political moves to avoid any default.   Most technology just mimics FIAT in its operations, also tech benefits from the current cheap debt situation where ordinary workers do not.

If we already know the benefits we can get from trading or investing, it might be difficult to say we are bored, in fact I think it would be the opposite. I myself, when trading or investing, often look at charts or look for information, I don't get bored, I actually enjoy looking at them (it has become a hobby) in fact I can look at them for hours if I have free time. (while also studying)

If you consider trading as a passion, if you have a hobby and enjoy it from morning to evening you won't get bored, especially if you have to wait for the price to go up. Boredom will make it difficult for us to develop, so many of those who get bored quickly will not be successful. Yes, that's right, if we have mastered trading completely, the fear will disappear by itself.

Basing up on the illustration, then the main reason on why these 3 people/person which you had elaborated is really just because of the price volatility. They would really become winners as long the price is really that above on the price that they had entered or on the time that they had bought in. If ever the price goes below into that line then those loses would really be that unrealized as long you didnt push that sell button then those are really just that paper loss but in overall idea on how this market works and behaves then its true that if someone do make out some gains then expect that there's something on the other side do losses up money.

It is really just that his Bitcoin investment then you could really be having various choices or options to take on which neither you would really be that holding, actively trading, scalping, daytrade, swing trade
or whatever plans you would be having as long it would really be something beneficial on your part then this what matter the most. It is really just a matter of choice on how you would really be
gonna dealing with this market with your own methods and ways. Dont mind about losing on the other side and its better that you should mind on your own rather than on minding
with other unnecessary stuffs.

Philosophically speaking, is a potential loss still a loss?

Let me explain.
One person bought bitcoin for 1k USD and sold it to someone for 10k, with 10x profit.
Nobody lost anything.
The second person held until bitcoin grew to 20k and sold to someone with a 2x profit
The third person bought for 25k and held onto his bitcoin. That last person is in profit right now, but doesn't want to sell.

You said that for someone to win in trading someone must lose.
In my example all traders involved are happy with their gains and all consider themselves winners.

This is entirely up to you.  Because we all know how much patience is needed Bitcoin trading and also every treading .  If you have complete patience then you will never get bored from Bitcoin trading.  If you come to bitcoin trading for small investment then it will only make small profit and it will never bring you big profit.  Again, in short term Bitcoin treading causes more losses than profits.  Bitcoin trading is more profitable if it is long term.  Because all of us who are connected to the bitcoin market know how much patience Bitcoin requires.  If you can trade with patience then you are successful.  We have been seeing how patient Bitcoin holders have been until today.  If you want to stay in this crypto world, not only bitcoin, you have to be patient everywhere.  If you can trade with patience then you will also achieve success.  Patience is the way to get successful in all way.  Patience will bring you success.

It shouldn't be just about the gain, I mean I understand that's a big deal of it, but that doesn't mean that it should be the only thing, we should have some other stuff as well that makes people like bitcoin one way or another. I get that it is a little bit different this time around, but it is not really impossible to handle it.

I believe that the best thing to do would be a little later than what we think it could be which is adoption to use it as a currency. It could be already too late for that like I said, but that should grow a lot more, right now too many people are using it as an asset to invest or trade, but I hope that people could start using it as a way to exchange means, like a dollar or euro or something. That would get bitcoin to be a lot better but right now it's both too expensive and also slow, even a simple paypal transaction is simpler, and we need to be better than that to make people prefer bitcoin as a currency instead of just an asset.

When the bitcoin value drops to peanuts for instance, isn't it as a result of the decline in people? Because changes in bitcoin price reflects the usage of people or any situation happening in the real world. Such major problem can be caused by difficulty in the world economy. Thereby financially affecting the entire bitcoin users. Aside that happening, the users of bitcoin or investors wouldn't let bitcoin get to peanut. Because of the profits and lose they've had in bitcoin. At a price as little as a peanut may not drive most users away. Only something uniquely new can do it. At a low price, the people know the high profits that awaits them if they get bitcoin at a cheap rate. And bitcoin is such a currency that works in favor of those who bought it very low. Also, since people won't run dry of wealth completely, they'll definitely invest on something that promises more profits like bitcoin. If a currency shows up from the blues and promises high profits to investors and traders, depending on the types of trades by Pareto. They'll definite try the new stuff out, which can affect the growth of bitcoin. I don't think it'll be now, as we are far behind from the time bitcoin hits a finite supply. Additionally, no such thing has been thought out by technicians to beat the concept of bitcoin. The government would have been the first to drive bitcoin users away to a new model of currency. Who knows, in next 100 years, what will fascinate the next generation of bitcoin users in next. Could it be bitcoin still? that will determine the assumption, if it'll be true or false.

One's profit is determined by another one's loss. But people still do it. The market is not the same as it used to be in the past. The volatile nature of Bitcoin has decreased significantly over the years. And it will continue to decrease in the near future. People only invest in something that they can gain from. So as long as Bitcoin can give them that gain, people will continue to trade Bitcoin.

As many have speculated that one day when all the bitcoins will be mined the market could become stable. If people are unable to find profits like they are doing right now, they will stop trading Bitcoin for sure. Even if right now, if people find something much more profitable and easier to gain than Bitcoin, they will move towards that. It all just a matter of time.

When I first got to know crypto trading in 2016, everything looked promising, at that time I used Poloniex, Bittrex and Mercatox, but because of declining market conditions, I got bored with trading, usually people get bored or leave crypto trading because they have other things to do. preferably like an offline job or business.

2 reasons why people will stop trading in my opinion; (1) They got bored with it due to their age and they got plenty of profits already with all the years they've spent in trading cryptocurrency. (2) They lost too much money on it, chased their losses, got depressed, and other emotional issues because of their trading journey, so they quitted, healed themselves instead and will find another source of income that suited their skills.

We can't guarantee that we will always make a profit while trading. We have to accept both profit and loss while trading, then it will be good for us. Those who are experienced traders know very well when to trade which coin will be profitable.  can guess so their price is very low loss most of the time. Newbies to trading mostly face loss due to wrong decision.

For people who have spent a lot of time in the world of trading, they will never feel bored in trading and if they do experience boredom, they can overcome it so that they will continue to trade. Before starting to enter the world of trading, it is very necessary to understand how to trade in order to gain profits and avoid losses that could occur in trading. You are right, even those who have a lot of experience can still lose their money in trading.

Exactly, People will not get tired of trading once they are used to doing it, and aside from that, there are a lot of things that need to be known prior to entering the cryptocurrency world. Trading is very risky like one wrong move, your money will be gone so it's crucial that you have knowledge about how the market works. There is no other way to avoid risk, Even some expert traders experienced losing their money and still pursue trading. Based on my observation, the more you experience failure, the more you learn.

And it all comes back to the knowledge we have and the experiences we have had and it is true that not everyone will survive in Crypto trading if they continuously experience losses and vice versa, someone will definitely not get bored trading Bitcoin if they make a profit.
We are not talking about people who want big profits in a short time, I think those are greedy people and greedy people will never be successful wherever they go.

In trading, there is indeed a lot to learn, but I realized one thing and that makes me not disappointed with whatever happens, namely the risk will be proportional to the possible profit.
If we already understand this then there is no need to be afraid of anything anymore.

If one already has knowledge about money management, then it will be easy to manage investments in terms of BTC trading. But, I don't think it has to be too technical. If they really want to enter the market and are willing to wait then just set a buy or sell price limit according to how they expect it to move in the future. But, sometimes many people want to fill it up and sell it as quickly as possible and think the price will move in their favor.
      

Vilfredo Pareto was a great economist, and I personally studied and conducted research on the Pareto Principle for a university assignment. Anyway, back to the topic: although Bitcoin supply is limited, all coins will be mined in more than a hundred years from now. Making such an assumption now would be impossible. I highly doubt that Bitcoin one day won't be traded unless something extravagant occurs, such as a major crash, dropping its value close to peanuts and staying there. This would certainly deplete interest in Bitcoin, but not diminish it. With that being said, I believe that investors won't give it up easily, even if governments attempt to contain it, which I don't think is feasible or desired.

From my perspective, the future you are talking about depends on people's understanding of how bitcoin works. They'll get to the time when the world understands the importance of a decentralized monetary system. It'll be difficult for people to easily adapt to bitcoin at a young age. Most of the products breaking the market with sales. Are very old. But, bitcoin still sells more than them within a few years. Such a technology can't be understood easily by the people. As bitcoin may not be utility to them. I mean no reason to use bitcoin. That's why everyone has, somehow, somewhere, heard about bitcoin. But can't answer few easy questions on bitcoin. So, the growth of bitcoin depends on the number of people who understands the ways of bitcoin. Because with the developments within the decade bitcoin has been in existence. It defines or shows how deformed people are about bitcoin. Convincing or allowing them think about it and its benefits could be a good choice. But, the question is, will they ever come back to learn bitcoin? or is it mainly determined by the effort of others to teach the world on the importance of bitcoin. Because if a person uses dollar, paypal, or bitcoin they'll definite have folks that trades, with them, such currencies. Hence if a person doesn't have any business that requires bitcoin for payment. He may be hearing about bitcoin but won't learn it or use it. With the good and bad publicity referring to bitcoin as a ponzi, scam etc. Bitcoin still stands and progress, regardless. Due to its quality and provision to the society. When they begin to see the disadvantages of operating with centralized monetary system like banks. They can begin to venture into bitcoin for what it is. Money. So, bitcoin has to rally or compete with the government. It has dominated the cryptocurrency market, first. It's strong enough to stand for the world, without failing. Thereby placing it in competition with most used currencies, like USD, Euro etc. Bitcoin is gradually dominating the later. With its bull run season, more people will look into bitcoin.

Yes that's right. Trading is impossible for everyone if they don't understand how it works properly and correctly. The anatomy is like this if ordinary people ride bicycles, but successful people ride planes. Just riding a bicycle requires knowledge, even though it's not much and it's difficult. Moreover, riding a plane requires much more knowledge than riding a bicycle. science must mature. Everything is in balance, small risks produce small rewards, big risks produce large rewards.

Learn a lot first, understand the risks, then decide whether you want to trade or not. Many people are tempted to get rich instantly but instead there are those who suddenly become poor. It is true that trading can generate profits, but it also carries high risks. Change your mindset to get rich suddenly, because getting rich suddenly won't last long. Consistent profits are much more important than trading one day and making $1000 the next day having to sell the house title.