Bitcoin Forum

Some of Bitcoin’s critics never miss a chance to announce the upcoming end of Bitcoin.

It worsens if the recent HODLERS, saw the critics proof that Bitcoin is going to fail.
On social networks, a FUD sentiment has spread, pushing an outsized number of individuals to sell their Bitcoins in the least costs during a totally illogical way.

Without being aware of the current worldwide economic environment.
I mean the situation with the spread of the COVID-19, many people have lost their jobs and tons of cash. once more, unfortunately.
 
If they understand this, they will join the ranks of HODLERS who totally believe Bitcoin.
Then understand that Bitcoin is sort of a phoenix that always rises from its ashes, and always comes back stronger.

"What doesn't kill bitcoin, just makes it stronger". Friedrich Nietzsche

Bitcoin is an antifragile system that is similar to human immune system. If such a system is managed to survive the attack of harmful effects of all kinds, then it is getting stronger and more resilient as a whole. Bitcoin is an open computer program, open software. Many talented programmers all over the world make that system stronger and stronger. Users and miners from different places make bitcoin system secure and decentralized. All the time bitcoin system is ready to resist to any kind of attacks. No matter what incentivize people who involved in bitcoin network, their only desire is to provide such security that makes bitcoin to live and exist among harmful factors.

Does it really matter? No, not really! Probably such self-proclaimed critics can influence some very minor percentage of bitcoiners who are new to this space. But those who are associated with bitcoin since a long time, don't really give a shit to such critics. In my long association with crypto market, I have seen hundreds of such crooks who come and go, but bitcoin remained unharmed and untouched by such critics.

There were only two incidents where bitcoin was really affected by such critics when JPM CEO Jamie Dimon and Berkshire Hathaway Chairman Warren Buffet criticized bitcoin. But the market quickly came back on track and never responded to their comments thereafter! We have made ourselves secluded from such critics and their comments.

How many times has Bitcoin's end been "predicted"? How many times has it ever happened?

Exactly. They have never been right. Although BTC had its ups and downs across the way, today it's sitting at a massive price of $7.6k and people are still "predicting" its death. Only 5 years ago it was under $200 and nobody thought it'd ever recover. meanwhile, I did. I thought it would, I cared about it and here I am sitting on the same position I was in 2013.

There are many opportunities around us but only few of us see them. Not everybody is an economist - if you call right now a completely random stranger that knows not so much about economics and ask them when it's the right time to buy and sell BTC, they'd have no idea or give a silly answer. Some of the Bitcoin hodlers are weak hands, have no vision towards the future or don't know the main rules of trading.

I don't buy that. We have witnessed Bitcoin crashing because the stock market has crashed, so it's clearly vulnerable. Theoretical attacks like the 51% attack or quantum computers can undermine Bitcoin's security and as the result its value. So far big powers ignore Bitcoin or just let it be, or try to regulate a part of its ecosystem. But if they did a 180 turn and banned it, Bitcoin would take a huge hit, because many users would leave.

So, yeah, Bitcoin is technically indestructible, because it's decentralized, but it can be harmed, so it's absolutely not invulnerable or antifragile . Bitcoin devs and community are doing a great job to make it as resilient as possible, but still it's a system that can be attacked.

Yes, I agree with your opinion. In the meantime, many may have understood and even invested in Bitcoin, and I think 80% of people will soon understand, and that's why all of us who have an idea about Bitcoin are all talking about Bitcoin from their own place through various contacts. By sharing, those who don't know will be able to better understand and know about Bitcoin. And by gradually investing in Bitcoin, I am hopeful that I will get something better.

From Bitcoin Obituaries - Bitcoin Declared Dead 350+ Times (2020 Updated)
https://99bitcoins.com/bitcoin-obituaries/

Recent Hodlers sounds more like an oxymoron but yeah they are probably "potential hodlers" since they start only now to hodl bitcoin ;)

Most of the times when you see people that doesn't want understand the basic it's only a waste of time. *
They start to being "hodlers" because they are searching a " get quick rich scheme".
They don't want to know anything of what there is behind this innovation, (Shut up and take my money!). 

Those critics can say whatever they wanted to say and there will be no impact in Bitcoin any words that they throw. If those recent holders of Bitcoin do not have knowledge about Bitcoin and what they are doing they will surely lose money. The targets of those FUD spreaders are the people with less knowledge and these peoples are the new ones in this industry.

One more thing Bitcoin isn't like a phoenix or something that resembles a phoenix because Bitcoin never died even once. Better check out the history of Bitcoin and look if the price or value drops to zero.

I mean, it's not like this is anything new, really.

Not that good of a take. The last thing you would want to do once you've lost your job, is to be holding speculative assets. This is one of the few rarer cases that I'd heavily suggest holding cash instead.

I'm sorry but I can't resist when I saw "Phoenix" in the title, it reminds me of this article back then,  :)

But this is another discussion though.

https://talkimg.com/images/2023/10/19/RbVfj.png
https://hacked.com/rise-of-the-phoenix/

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Because we have two school of thoughts: (1) those who invest for short term and thinks that bitcoin will make them rich in short amount of time, aka, get rich quick scheme (2) long terms investors, aka bagholders who are not affected by the recent flash crashed.

So I think those who have sold-off doesn't have the mentality of long term holders or investors.

I really pity for the people who followed a bearish analysis of bitcoin heading to $3,500 or $5,000. They will just have to buy at a higher rate, that is what you get when you refuse to be patient with bitcoin during a correction. Covid-19 affecting bitcoin was just a subtle lie for whales to buy more bitcoin at a cheaper rate. No one can checkmate the next move of bitcoin.

i disagree because bitcoin doesn't die and there is no ashes for it to want to revive from that! just because some idiots on the internet call it "dead" doesn't make it so. and remember that price is not everything, the most important part is the network itself and the bitcoin principles that must remain the same. with that said you can see that bitcoin is only getting stronger everyday as its network becomes more and more decentralized as the network grows which also makes it stronger (network is both full nodes and miners).
unfortunately the bitcoin community is filled with a lot of people who think of bitcoin as a money/profit making machine instead of a decentralized currency which is why you talk about "HODLING" and "ashes",...!

So, whats your point? Bitcoin is vulnerable and fragile because it can be attacked by theoretical quantum computers and evil governments that don't want to lose their power to print money? The possibility of an attack doesn't mean bitcoin can't survive it.

First, powerful quantum computers have not yet been invented, bitcoin will use a more advanced encryption algorithm to avoid attacks from such computers in the future. It is a lot easier to create quantum resistant encryption than quantum computer that will be able to compromise network.

Second, if some governments were to ban bitcoin, other governments woudn't do that in order to reach a more advanced technological and economic level.

Third, the 51% attack can cause short-term inconvenience to the network and its participants, but the network itself will not be destroyed.

Fourth, it is only speculators who concern about short-term drops in bitcoin price, it doesn't relate to network resilience.

Can you explain to me HOW the people,who lost their jobs will become Bitcoin HODLers?
Do you think that they have a few thousand dollars sitting in their bank accounts,just for the sake of buying Bitcoins and HODLing those Bitcoins for months,despite the fact that those unemployed people don't have a stable income source?
I don't see any panic selling caused by "FUD sentiment" across social media.The current Bitcoin price is 7,7K USD.
It's stable and it's slowly going up.What panic selling are you talking about?

They are just pretty much spreading fear to take advantage of the market. If people believe, then they can buy at lower prices and sell at higher prices. If they don't, then they don't really lose anything so their mindset would be to always spread fud if the opportunity arises. Especially right now since most people have seen the massive drop last time, people could easily be triggered to believe that the same thing would happen in the near future since the virus is still active in various countries. Besides, Death notices of BTC are all false news as we all know it. Anyone who trades in BTC and participates in forums know that BTC is well about and growing.

I've seen enough for bitcoin end drama. Bitcoin's core is our speculation, the more we speculate for the price the more it moves no matter how negative or positive it is there will always be interaction in the market. Bitcoin is bubbly, yes it is, but it already gained so much reputation to the web that it could not get any lower than $3K anymore. Bitcoin is already here, changes is upcoming with it and we cannot deny that fact.

It is good to know that there are people who will still hold even the price gets higher after halving. That is enough for the future.

OP, there's no one coherent, logical thread running through your post, which seems to be just a mish-mash of bullish sentiment and wishful thinking.

And I don't know how long OP's been around, but people have been proclaiming bitcoin is headed for the grave since well before I got interested in crypto in 2014.  The cries get louder and more frequent when there's an actual bear market (and I'm not sure if what we're in right now qualifies as one). 

Anyway, the best thing I can say about bitcoin right now is that at least it didn't get absolutely shredded in the market like crude oil did.  And even though it's still a ways away from even $10k, I have a feeling it'll get there.  The coronavirus thing cocked everything up, and bitcoin wasn't exempt.

If you consider deep crashes as a form of bitcoin's death then yes, bitcoin is a phoenix in that sense.

Even after all the crash back to lower lows, people's confidence in bitcoin remains the same. Volatility is people's major enemy when it comes to buying bitcoin, but they still persist even after all the roller coaster that has happened. Perhaps it has something to do with the established reputation of bitcoin being susceptible to volatility and surviving all the manipulation, or the infrastructure built around it i.e. businesses, miners etc. Whatever the underlying reason for bitcoin's persistence is, one thing is certain: people believe in it even if it means they already accepted the fact that there is a probability that they will lose the money anytime.

Some people believe that the phoenix was really the flamingo. This comes from it's ability to stand in near boiling water to hunt for food. The steam could appear to be smoke. Bitcoin has been in hot water since its creation, so maybe the logo should have been pink. :)

I love the way you compare bitcoin to phoenix but I would add some correction. Bitcoin is a dark phoenix (not marvel movei hah) because it rises from it's ashes but at the same time the dark side here is that it falls from it's state of rise and this fall is often very hard. If we don't regret that a lot of people lost tons of money, then how will they add in a queue of holders? Nothing to talk hodlers who hold for a very long time.

I have zero doubts that Bitcoin can survive nearly anything, the point is that just surviving is not enough, to be called antifragile a system should retain all it's qualities after the attack, basically emerge unscratched and even stronger than before. It can't be always the case with Bitcoin, even something as simple as a big price drop has huge consequences - it undermines its usability as a store of value or a currency. You're saying that only short-term traders worry about that, but short term traders actually like that, because they can make money on sudden price movements.

Regular people aren't comfortable with storing their money in something that can go 50% down in a day. Just imagine receiving salary in Bitcoin and finding one day that you can't pay your monthly bills because the price has crashed.

Or take something like a global ban - sure it's not 100% enforceable, but it doesn't need to be, it can scare off the majority of current and potential users. It won't kill Bitcoin, but it will make it small. Anything that reduces Bitcoin's number of users makes Bitcoin less valuable, the network is less secure when there's less hashpower and less nodes, it's easier to attack it or monitor it.

Please get used to these types of things. Mostly, they are reporting what is showing, like right now, the price keeps going up so the headline could be:

• Bitcoin is Rising, Bull Market?
• Bitcoin is a safe haven

You would know what the news is going to show once something happens, especially if there's a drastic change in the price with regards to Bitcoin. There's no point anymore to point out whether or not people should believe in but know what you want to support and continue.

If we are talking about Phoenix's, I remember how the phoenix in Harry Potter symbolizes. It's that it shows that something dead could be alive. Or it's the impossible. It is being done, so if Bitcoin is a phoenix, long live and resurrect if must!

Huge price drops have been happening for 11 years so far and bitcoin is still alive, got even stronger than before. Also, in case of something that has a potential to become store of value, short-term might mean even couple of years, it always depends on the particular purpose.


Just give these people a right to choose what currency they want as their salary. I believe some of them would choose either a combination of bitcoin plus dollar or pure bitcoin. I myself would prefer the latter, because currency in my country sometimes more volatile than bitcoin.


After bitcoin survives the global ban, it will be the most robust technology ever known, because all people around the world will be aware of such grandioze robustness, bitcoin will be adopted faster than any other technology ever created.

I like the metaphor because Bitcoin has got out of very tough spots and reappeared even stronger throughout its history. It never died per se and never even got close to it in terms of the price but there's certain powerful regeneration that both Bitcoin and phoenix possess. We can see it being strong right now with the price of around $9k which personally for me was a lovely surprise. Bitcoin is often declared dead prematurely, but it never dies. It's sad that many people still engage in panic selling every time, but I hope this problem will be resolved as more time goes by (there'll be more believers and fewer panic sellers).

That's why when some people will come out saying the end of btc has finally i come, i don't take too serious, time and again btc has proven how strong a coin it is no doubt about that, this few days of constant rise also confirms what we already know,
so whenever btc price dip, buy if you have the money, and if you are holding btc, don't panic sell because an opportunity to sell at good will surely come.

Hello everyone. Of course, bitcoin resembles a Phoenix bird. Somehow the whales of the market need to manipulate the crowd. How else can they make the crowd panic and sell Bitcoin - only by increasing panic moods. But as soon as people are less exposed to the fear of falling prices to $ 1, there is still some way to get people to get rid of digital gold. I believe that just in case of any fall, you need to buy more and more. I’m not afraid of the cost of bitcoin per dollar. The day that this happens, I will be the happiest person, because all the money will be spent on bitcoin. But, this is just a dream. Perhaps this is Bitcoin mania on my part. But this is cool when a fairy tale begins to be transferred to financial capital. “Burned to the ground and reborn from the ashes” Yes, Bitcoin knows how to be a Phoenix bird.

This is true, bitcoin gets stronger every time, but how many lives does it have?

This is no longer a new thing, anyone that doesn't want to believe in Bitcoin by now have just chosen not to believe in it and you shouldn't force them, it's their choice.

Those are the people I usually laugh at at the end. They never learn from their past experience, this is not the first time that it has been said that Bitcoin is going to fail, as a matter of fact it has been said many times and was repeated in 2017 the same year that bitcoin went on a bull run; they said everything they said and poured all their hatred out on Bitcoin, but that same year they were all disgraced. So if anyone should say that they were not aware of all these things that have been happening, then I don't really know what to say to such a person.

How would you think they will be able to join bitcoin if they lost jobs? you just said there is much fud about bitcoin ending, If you happen to be one of those guys that had lost jobs but have little money, will you put it on bitcoin even though you have been hearing fud about bitcoin? I am sure your answer will be NO. And this is what it is. No one is certain what will happen to the price in the next 1 hour. Investing in crypto is very risky and I won't encourage anyone that is struggling to meetup end needs to put his or her little money in crypto unless he has some spare money