Are people giving up on Bitcoin too quickly?

Xzavier

New member
I have been reading many posts that show signs to be that people are giving up on Bitcoin's technical development to become an actual currency, and also shows signs to be ready to sell after the next surge to ATH.

I believe it's too soon. Bitcoin's benefit for improvement outweighs the cost in my opinion.

HODL!
 

Ahmir

Member
Who are these people? Maybe they never believed in the technical developments or never really understood how bitcoin works in the first place? There are many pretenders in the space so they could be one of them. They only bought btc for the sake of trading them at a profit.
 

Aayan

Member
there are always a certain percentage of people in bitcoin world who just care about making more money using bitcoin which is why they think about selling all their coins on a small rise specially since this group have no understanding of what bitcoin is. in fact many of them have never even used bitcoin because they don't own a bitcoin wallet, they keep their coins on exchanges!
they don't represent the whole community even if they are the most vocal.

we see them mostly whenever there is a rise and also mainly when price gets closer to its previous ATH record. for example you could easily see loads of them back in 2017 when price reached its previous ATH (basically anything between $1000 and $1400) how they panic sold. it is mostly a mentality thing that they place these types of price levels in their heads thinking price can't go above it at all. $1200, $200, $24, $2, $1 have been some of those mental barriers!

bitcoin will continue being fine, keep growing and improve regardless of these people.
 

Jermaine

Member
I have been reading many posts that show signs to be that people are giving up on Bitcoin's technical development to become an actual currency, and also shows signs to be ready to sell after the next surge to ATH.
When the statement on giveup are more popular, it's the end of downtrend or of accumulation phase. Do you think it is not correct?

Miner capitulation is another thing (with the weak down in March) and after the capitulation, total hashrates on the network set up its new all time high. Is it a signal of giveup or degradation? No man, never.
 

Mustafa

Member
Who are these people? Maybe they never believed in the technical developments or never really understood how bitcoin works in the first place? There are many pretenders in the space so they could be one of them. They only bought btc for the sake of trading them at a profit.
Have you ever thought maybe their country limits them? Sure there are the cash grabs, there are other factors too. There was a post here where OP quit because exchanges closed in their country. There are others who got scammed big time and they were so distraught that they never got to trust bitcoin again. Do not get a tunnel vision, widen your perspective. I do not think that using bitcoin as a means of becoming financially stable is a bad thing, the development of Bitcoin is already happening, you might as well get the benefits of believing that it will revolutionize society.

Post: https://bitcointalk.org/index.php?topic=5280183.0
 

Jesus

Member
I have been reading many posts that show signs to be that people are giving up on Bitcoin's technical development to become an actual currency,
Not all are interested on the technical side of Bitcoin. More people are interested rather on it as an investment rather than it being a currency. Lets face it, the technical aspect of Bitcoin is not for those average people who are very hard to understand things.
also shows signs to be ready to sell after the next surge to ATH.
As an investor, it is their strategy to sell their holdings so that they can get a profit. People come and go and same with this. People will buy and enter then they will sell and exit.
Cheesy

As for me, still holding a portion of Bitcoin while spending a portion of them in different things
Smiley
.
 

Jair

Member
Don't be too surprised.

In 2017 when bitcoin was going up, a lot of people were overly bullish over it regardless if they know what bitcoin is for in the first place or not. And when bitcoin was in a downtrend, a lot of them called it a scam, or a failed project. Why? The human emotion is a wonderful wonderful thing. It's pretty much similar to the stock market too! When a company's stock is growing in price, it's easy for people to assume that it's going to be successful. But when it's falling? "Meh, that company sucks anyway".
 

Ignacio

Member
In my country Bangladesh, Crypto currency is ban.so here so many people want to invest on it.but they can't.so many educated people's are here they can easily learn about crypto currency.but because of government ban they couldn't do anything.
 
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