Bitcoin Forum

We shall not hide from the difficulties. The blockchain will be 100 go before the end of winter, but nobody cares about that.

BTC has problems. Scalability's being the biggest one. I remember Mike Hearn saying that BTC has failed, a year ago. We may not like him, but the problems he talked about were real, and still aren't solved. Far from it. SegWit looked like a promising solution, but after 6 weeks, it has less than 30% support, with barely 4% gained in the last 30 days. At this rate, it will take years for SegWit to pass. Is there a plan B?

Cautious investors like me are waiting for a clearer future before buying anymore BTC, but to my great surprise, BTC keeps on going up and up. So I have the feeling that the people from China or India (or other places) who are pushing up the price just don't care about BTC. They just want to escape their country's regulations, or failing currency, and that's not good.

I got in the BTC bandwagon because I believed in a decentralized government-free currency, but those newcomers just got in because they saw an opportunity for fleeing. They might flee again fast if somehow they lose confidence in BTC.

As a rule of thumb, slow, stable growth is always better to sudden quick changes.

People from China or India snapping up bitcoins is proof of its utility. It shows the rest of the world the perils of fiat, if the government decides to move in the wrong direction.Today's investors may not be passionate about Bitcoin; they are the practical ones.

Today's investors do not care about bitcoin ? What investors are these ? Monopoly money investors ? Please show me a better investment than bitcoin and I will show you a liar. If someone is ignorant over bitcoin then maybe they not really investor material. I mean if you unable to know a good thing when you see it then you probably have no business investing anyway. What you wanna buy gold ? Lol yea...

countryfree: the funny thing is .... even with all these "scalability problems" ... bitcoin continues to function perfectly fine, as long as you know what you're doing or you're patient when it comes to transaction / confirmation times.

Also, its a damn good thing segwit has so little support ... the last thing we need is btc being undermined by people who want to centrally control it. FUCK THEM!

Been using Bitcoin every day since 2013, no complaints! It's a very practical peer-2-peer transfer of value.

Traditional investors are always cautious of "digital assets" but such new innovations don't come around often!

I do agreed with pal, perhaps in the people who do not care about in bitcoin these are the people who are totally blinded in the concepts that bitcoin has. All they know is their investment will surely get interest into it. But in the main purpose of bitcoin in the community they don't care really care about it, it is just for them its all about money only.

The core is well over 100 GB already which i think is what you were trying to say in the beginning.  Why is it that you think investors don't want to diversify into bitcoin?

OP, place yourself in the shoes of the people you are talking about, and be honest in your answer. Given the situation that they are under now, and if you were in their shoes, would you not do the same? Would you care about the technology, if your wealth were in danger?

Let's swap hats and see if we can really blame them for everything. ^hmmmm^

A true investor would capitalize on this situation, and take the opportunity to make some profits whilst the markets are in turmoil.

Good point! I guess I could have done the same thing, but this is no investment, nor any sign of support towards BTC.

I make the difference between investor and speculator. I'm an investor, which means I'm checking BTC's price once or twice a month. I'm playing long term, with no plan to sell my BTC this decade (except for small expenses like on Fiverr).

In my start I was looking at Bitcoin as an investment, but never started with it because I wanted to learn the stock market first.

To be honest either one I got into would've paid off tremendously, even choosing stocks my asset value increases like current daily BTC gains without the fall or scare.

Just worry about the econom and amount in circulation as most days, even with alternative cryptocurrencies yield tremendous gains.

The point is not whether Bitcoin is "functional". The scalability problems have resulted in BTC not being able to reach its full potential. That in turn is holding back its adoption, and in turn its price.

people have been spun the doomsday of data bloat.
seriously, they have been misguided by fake stories of gigabytes a day and terrabytes a month.. which even with dynamic scaling proposed last year and this year wont ever get to that scale, in any time anyone needs to worry about

so here it is the last 8 years worth of data
yep thats right 8 years of international financial transactions, fitting on the same size as a fingernail.
https://i.imgur.com/mRwuWmX.png

the reason why the real world doesnt care about 100gb is simple. you dont see people crying over the data needed to run Call of Duty games or a true blue ray boxset download yet millions of people play /watch that stuff all the time.

In fact, it all depends on market expectations. Maybe the average expectation is upon a resolution of all questions, with an "X" probability. If it proves right, bitcoin price may surge much more, to some thousands of dollars. If it proves wrong, then it might go back the $200 and below, as better alternatives (other cryptocurrencies) emerge. The scenario here is very uncertain.

All investors of bitcoin haven't faced loss than profit. From the days several issues have got raised on scalability, but to overcome it updation were done. But that too won't give the output in a short period, if its a failure then it could have been down from the days when Mike Hearn revealed about it.

Sudden quick rises always scare me... They always see sudden collapses...

Why do you care if people care about bitcoin or not, Bitcoin does not care if we care or not !  it either works or it dosnt.  If bitcoin needs us to care about it then we might as well scrap this shit idea now and move on.  The fact is it does not need us to care wither it works or not, it needs us to use it and help improve it so that it can be more robust.

Other cryptocurrencies such as? where is this back to $200 comes from that I keep seeing today? bitcoin should care about people and investors not the other way, but to this date it has because if it didn't then we wouldn't be here bitcoin is doing so many things for us but there are many people only focusing on their own gains and never cared what happens in the long run, I wouldn't lose faith in bitcoin if it drops not as  long as profit can be made from mining and running nodes since without them there will be no bitcoin.

you want to buy Bitcoin with Segvit and Lightningnetwork and with a clear future, and at this price? this will not happen, and when everything is clear and well-well, then you will buy at least 3000$ for Bitcoin

Bitcoin is perfect now shut the fuck up and lock your stupid thread!

Because of bitcoins has problem about difficulties, scalability's being the biggest one, doesn't mean the investors do not care about that or don't know about that, actually the investors are speculator.
They know about investing into bitcoin, the risk and beneficial of that. Mostly of investors just are looking for profit, they are not developers of bitcoins.

That is a given fact that probably 99% of bitcoin users all around the globe doesnt understand bitcoin, but they care about bitcoin thats why they are using and purchasing bitcoin. The reason for them not looking on bitcoin on the background is because not all people are technical about how bitcoin works. How can we be concerned on things that are out of our understanding, isn't it?  What they understand is that bitcoin is good currency, it is profitable and it is much better than fiat.

In short, they do care about bitcoins its just that they dont understand everything about bitcoin.

The real question is, does it really matter if they do not support BTC or have respect for the underlying technology?

As long as those people are using BTC, either as a short term safe haven for their funds or as a temporary replacement of their own country's fiat currency, it's still beneficial for Bitcoin itself.

I would also argue that for every 1000 new users or so, there is a certain percentage of them that will stick around, so any influx of new users is definitely a good thing for Bitcoin. Even if only 5 or 10 percent of them stick around long term.

We have to make them want to care. We will make them care.

This. Its highly unlikely data storage will ever become a serious problem for bitcoin.


Exactly. If bitcoin can not handle the way its being used by the people then bitcoin simply would not be the great invention we think it is. Therefore there would be no using in preserving it.

Which one do you want to say about? is it a diff of bitcoin or central digital currency and limitation law for bitcoin

Word. We will apply the Segwit and then Lightning.

We have a roadmap, the core devs want to increase the blocksize, but we must activate segwit first to avoid certain exploitable glitches that could happen if we raise the blocksize without segwit, so start trying to convince miners to activate segwit. We will never get anywhere without segwit, it's the reality of things here.

Of course, there are paid gov agents that know it, thats why there are anti segwit trolls, but we will defeat them.

And even if segwit never happens, we still have bitcoin as a better gold with the currenct characteristics, this fact alone makes BTC extremely undervalued. A better gold should be sitting at 6 figures per coin.

Today's investors do not care about Bitcoin? How I must understand this? Who made bitcoin? investor ? Of course not, the point is not about caring, investors must manipulate with bitcoin price. Investor need profit from bitcoin, why I'm an investor? Because I care bitcoin

Today's investors do not care about bitcoin? Have not hear such strange thing so far. The price of bitcoin the last of three months and the volume of trade of bitcoin in all the biggest or not exchanges seems that testify the opposite.

This actualy makes no sense. I think they do care for Bitcoin but things have changed and investment techiques and methods and investment goals are different. Maybe the investors are also more careful, more cautious, not so easy with giving away their money but they are still there and investing.

Investors is always caring about their money that i think they are care about bitcoin since the price of bitcoin hit above $1k value and now the price of bitcoin drop but i think they are already exchange their bitcoin so that they can buy bitcoins again back because there s a new spike and the price is increase again back to 900 value and pushing back to 1k value.. so those investors area always care about bitcoin because of the fast movement of the price..

I think the Op is trying to say that current users and especially the ones from India and China, do not understand btc, all they saw a loophole and they used it fully. That's a valid concern and I. Don't think he is wrong to voice it out, this has actually spooked the btc price and yes one could say users have increased, people are using but this are temporary and they shall exit leaving a hole in the Bitcoin and we all should be ready to brace for a storm.

No investor will invest their money without understanding the profits or risks they are getting into. It doesn't matter if they are from China or India. Investors won't be interested in losing their money. Rather there are many outlets and companies who started to use Bitcoins in their payment gateway.

Probably meant a huge chunk of the BTCBTCBTC 'investors' are here to short trade for profit. Well you can't remove that in any commodity, even in stocks. At least they do good for the volume.

I think it is the idea of bitcoin people can't really control it's movement and not just one person can utilize bitcoin for himself because it is on the community of bitcoin users and if you are having a doubt on bitcoin that it will went down when you would invest your bitcoin then do not invest so you wouldn't lose your bitcoin you can not see the future of bitcoin all we can do is ride on the flow of it and hope for the best in the future!

They will care when they aren't able to move their bitcoin because there 548663254 transactions awaiting confirmation, this might reflect on the price when people start noticing the limitations, may other coins rise...

That is the public using BTCs, proof that BTC is already a success and many people are using it. If Bitcoin has limitations it's not their fault, but BTC fault. Surely something must be done, the currently amount of Bitcoin investors is too low compared with the world's population, if Bitcoin wants to be a currency used by all the world this is the biggest issue that must be correct, improved. But the question is, what could be done?

I don’t see any problem, as long as people use bitcoin that is fine, bitcoin is a currency and people will use it for all the same reasons we use our everyday currency, what you describe is nothing new when the USSR was collapsing, many of its citizens fled to other countries and purchase dollars instead of keeping their national currency.

Well it seems most of the people truly are investors or casual users. I myself are one of those who do not know much the technicalities. People are starting to see it as a store of value because of increasing instability and would buy even without enough knowledge of it. True the big increase in exchange can be a bit unnerving but it's making people more aware of bitcoin's existence and that is always a good thing. Mind you, many of us also probably don't know how fiat works. I for example only know that the government increases or decreases supply as it see fit.

There are whales, and big investment around bitcoin, sure the intentions is to achieve roi, and maximize their profit, nowadays people does join bitcoin world to make easy money, not interested into the big issues like the block size as well what will happen once the mine period ends. The more bitcoin grow the harder becomes to give support, remember that most crypto community has a regular job and nothing besides those.
 The most bitcoin community members had invested maybe 5000- 50000 dollars at bitcoin, some had been able to get more at the moment, but the thing is bitcoin pump costed milions and we dont have those. Nowadays only the whales and big miners are able to afford to make such pumps at bitcoin, even with us trying to help we cant.

No one needs to care about Bitcoin. Bitcoin isn't a cult. Everything has problems. They eventually get fixed. Bitcoins problems will definitely get fixed because there are too many big investors driving Bitcoin to let it fail.

People from China or India are just using it to hide money. Great that means they've learned how to use it and they're using it. Their understanding of how Bitcoin works will never go away.

Day traders, forex traders and speculators of all kinds are just using Bitcoin for profit. They don't care about Bitcoin at all. Great that means they've learned how to use it and they're using it. Their understanding of how Bitcoin works will never go away.

No one needs to fall in love with the things you like about Bitcoin. They'll benefit from that whether they like it or not. We just need people to use bitcoin, not pray to it.

Just a little observation, in theory the governments can increase or decrease the amount of fiat in circulation, but while they do increase the amount of fiat in circulation, they never decrease it, to decrease the money supply is something that belongs to economical theory but it never happens in real life.

The price actually was rising abnormally, as the OP said, but now we are seeing the consequences of it. I think if people were paying more attention to technical aspects, we would have a higher percentage of blocks signaling SegWit support, and this could certainly help the price rise in a stronger and more stable way. As said in the OP, stable and organic growth is more important than a quick pump.

How will we do this??

Wrong, it's happening all the time, just like in the stock market. Some stocks are hot, so plenty of ignorant folks rush to buy from the smart guys, then suddenly, the markets changes and all the newcomers are losing. Some folks got into BTC when it was over $1,000, and they already lost more than a tenth of their investment. It's bad for BTC, because those people people will spread the word that BTC is terrible.

This what you were telling was long back, now all of them are smart enough and before entering any market they make sure what type of market and what are their risk, and even if they have entered in 1k usd price then they know it that they are investing in long term.

it's not blockchain size. it's bandwidth. there's a thread on r/bitcoin by a guy who's been running a node at home. his upload last friday was 80gb. there's no way my provider would permit that and the same goes for an awful lot of other people.

To say that investors do not care about bitcoins might be rather untruthful. Infact, it has been proven that world richest men today had earlier invested in bitcoins. Money not invested in bitcoin, is as good as money that you don't need. I have spoken with some renowned men in the world, and I tell you this for free that, indeed Bitcoin is where the heart of investors is. Everyone should buy bitcoin :)

That's just a crap that investors don't care about bitcoin. Bitcoin already have many examples of people who get rich with bitcoin, those people who bought bitcoin in the most beginning for the price like 20$ are must be millionaires today! Such stories just cannot attract the interest from professional investors and beginners.

Very few people spend bitcoin, they hoard it.  And for that ot doesn't matter so much how much network congestion there is,  does it?

And as far as the statement in the title: bullshit.  Look at the price.  The market disagees wholeheartedly.

I am not sure you can compare the usage of bitcoin in China along with India as the percentage of users are really low in India compared to the rest of the world.I have not heard about a large mining farm in India and the current price of bitcoin in the Indian exchanges are mainly due the affects of demonetization and nothing else. Most of them are in this platform to make some profit while they can.

I think investors are afraid to lose because of anonymity of bitcoin they do not when how long bitcoin will live for a long time..
We know many people area already rich by bitcoins as an example but there is no assurance that bitcoin will stay long..
But i think for those who are believing in bitcoin they are still investing in bitcoin and scaling up their earnings..