Bitcoin Forum

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More than ten years ago, a man(?) And a bunch of idealistic programmers started creating a new currency. A currency that would allow freedom, that would return the power taken by governments and banking institutions. A currency that today the whole world knows as Bitcoin.

For a long time, Bitcoin has provided people with exactly what it was created to provide: freedom (and a reasonable level of privacy). I met him in mid-2010, but I didn't really get involved until 2016. After the first big top at the end of 2017, things started to change. Bitcoin is no longer a "currency of the underworld", as they called it, to gain the attention of the mainstream media, governments and, mainly, investors.

That same year, I met a very poor community in my country. There, I met a man we will call John Doe. Doe was a fisherman, fed his wife, two daughters and his father - already quite old - with what he managed to catch fish and crustaceans, selling them at a local market. Doe told me that things were difficult. In its small village - which could only be accessed by boat - there were no benches. Not even the credit card companies had been concerned about these people. Yes, Jhon Doe used Bitcoin. Even there, there was a P2P provider. Interestingly, the same man who programmed and carried out tourist excursions to that place.

But it had been a while since he had gotten some satoshis at a good price. The massive amount of people depositing Bitcoins on exchanges or personal funds, traders sucking the currencies out of a market with people who really needed them ... All of which greatly reduced the liquidity for Doe, who had to rely on the local fiat currency again. You can say that if John had saved, today he would be rich. It's true, but you didn't see his house, with walls made of wood and clay. The one-room house, with hammocks where they could sleep. There were only three dishes where Doe's two daughters and father first ate. The wife hoped that one of them would be free and Doe always ate his meals in a rusty metal mug. He couldn't afford to wait years of Bitcoin appreciation, he was more concerned with putting food on the table and killing the family's hunger for another week. That day, I donated to Doe the only entire Bitcoin I had in my entire life.

I am not saying that the great appreciation of Bitcoin is a problem. May it spread further and help many people in the same way that it helped Doe. Speculate, enrich and do not forget those who have not had the same opportunity. Allow institutional investors to come in, they will give the market resilience. But please, never forget the reason why Bitcoin was created. Don't let it get out of reach of the people who need it.

Last December, I visited Doe again. Her father had died in 2018. Ironically, not from old age, but from the bite of a snake. There was no time to take him to a hospital. I donated to John everything I have recovered in Bitcoin since then, which did not add up to a tenth of the previous amount. I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return.

Have a great day.
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It seems to me that the easiest way to give up something is after the first failure. And I do not blame for this, because it brings financial losses and all kinds of difficulties, including psychological ones, and this is really familiar to many. But I am sure that this should not be taken seriously if you have not lost motivation yet and you are still interested in the market. Yes, this is a big nuisance and you will probably need time to recover - financially and psychologically. But you definitely need to start over and just try to control risks and learn how to properly distribute your money. There is no need to rush and chase profit, it is enough to move in small steps and analyze everything that happens.

This is the freedom of choice in the market - you can always not be limited to any one asset, and if you see some dubious working conditions or you do not have a specific work plan, you can always give up this at least for a while and choose something else for actual work. This is normal. Every asset, even the most stable one, sometimes "goes through" difficult times. And of course, at this time, interest in him is steadily declining. But over time, this can also "rehabilitate" in the market and again attract the attention of traders and investors. So maybe your opinion will change over time. Still, being categorical is not always the right decision. It is a fact.

This is a danger that any independent resource carries, so there really is a certain specificity that requires detailed study and consideration. Because it behaves a little differently than other standard assets. For example, currency pairs. I understand your emotions and it seems to me that every trader who has faced losses at least once understands you.
But I just want to say that you should not lose confidence in this business, because there are actually great prospects here, you just should not be disappointed and maybe you should take a little rest before you start a new stage of work, most likely with others assets and other strategies. But I'm sure everything will be okay.

We have seen this type of fictional stories several times a long time ago. They always come up whenever there is FOMO and Bitcoin is having a great rally. Well, not as if the stories aren't interesting (at least for amusement's sakes, they're.), it's just that the stories more often than not do not add up as to the claim the story tellers often intend them to have. I couldn't truly understand what the OP says is the reason they're quitting keeping Bitcoin as it's not clearly stated in the post (or may be I missed that part). My question now is, "Why do you want to quit keeping Bitcoin?"

I feel sorry for what your dad went through, but leaving bitcoins just because you don't have them anymore doesn't mean you can't see cryptocurrencies other than bitcoin.

So why do you say you want to stay away from cryptocurrencies for a while? just because the price is not affordable? or waiting for bitcoin price to drop again? like using bitcoin when only certain conditions. while we live on bitcoin, it's hard or even happy. And you have very different principles from us from the point of view of bitcoin.

You don't have to own bitcoins to be in the club.

Sure, you can be disappointed by Bitcoin now after ten years of existence. It's ok that Bitcoin direction could slightly be changed Now it's one of the richest assets in the world and I'm glad to see new companies recognizing it each day.
But there are still a lot of other coins and cryptosystems created for decent reasons and new projects appear almost every day so you can still remain a part of this world and find a new coin for you.

So that guy who sleeps in a twig hut has electricity, Internet, a smartphone or a computer, knows about bitcoin and how to use it... Strange at the very least.


What is a good price? Is 10k a good price? 15k? 20k? For many people 35k is a good price because there's millions of USD traded for bitcoin every day.

I didn't quite understand the reason for your leaving cryptocurrency. Yes, bitcoin has become a popular currency, but why you leave it then? Now is the time to start investing in this currency because in a few years you'll earn a huge amount of money. The problem is that not all people understand how this technology works. I advise them not to get involved in it. Or just start exploring this environment because cryptocurrencies are a very difficult system, where you have to be confident in your decisions, think well, and be stress-resistant. The latter is very important because weak people will give up after the first failure, which shouldn't be done!

He thinks it's too expensive and taken over by big players and that poor people can no longer use it as a currency.

In a way he's right. It's hard to use it when you're very poor and rely on micro transactions but bitcoin is not yet fully developed. It's evolving and this is not its final stage.

Maybe it will become a store of value and digital gold, nothing more. We don't know yet but it's too early to turn your back on it only because fees are high.

It just makes me wonder and hard to believe that Doe (in his poor situation) will consider bitcoin instead of using fiat currency where in you can easily use it without hassle of tapping your phone. As I visualized his situation, he should consider fiat used since the OP said he couldn't wait bitcoin to go up the price and he used it eventually when they need it.

And as of the writer of this story, does it makes sense you donated all of your hold bitcoins when bitcoin achieved it's All Time High?
It costs a lot of money today, helping others is a great endeavor and satisfaction I do understand that. But if you give it all out to the ones who needed it the most, then I salute you for that.

The world is not ready for Bitcoin. Not yet. People are using it to exchange to fiat before buying goods and services, allowing middlemen earn big from this.
But with every "average Joe" leaving the ecosystem instead of insisting to use it right the things will not advance towards the right direction.
Of course, it's your choice and all we can do is respect it. But that cannot stop me from telling you "you are doing it wrong".


Indeed, the access to internet has its costs and if cards are not available, then internet is either not there, either expensive.
However, I think that not the truth of the story would be the main concern here, it's the conclusion behind it.
I mean, it doesn't matter the story is fake and OP doesn't actually leave.
What matters imho is that the main character of the story is felling instead of doing his part (big or small) in driving the things to the right direction.

It’s a pity that you chose to give up Bitcoin. I think Bitcoin has a promising future. If you have any chance to try, I still recommend you to buy some Bitcoin. Now their value is rising sharply. I am very optimistic it.

The name was seems to be familiar to me, John Doe. Hmm.. isn't that the name that usually is an example on typing exams or speed typing testings? I'm not sure about it but that makes me remember those tests that I've down in the past. But hey, no one is stopping you from entering or getting away from bitcoin. It's free to anyone who wants to get out or get in at anytime that they desire. Good luck with your future if that's your decision and if your story is true.

If you are planning to wait till you find the exact reason in your terms, then you wont be entering the market ever, institutional investors will be taking advantage of the opportunity and there is nothing you can do about that. I am not happy with the price valuation as i wanted to see a gradual growth and not a pump and dump market but it is a decentralized market and there are flaws you should expect and try to move with the flow.

I hope you’re not suggesting that OP own another kind of coin, the forked-Bitcoin-shitcoin kind, and be OK to be “in the club”. Hahaha.

Although, yes, it’s about the correct attitude, and educating people.

Well, it's not always good news for the rest of us there's always someone like OP who didn't get it work with his life about BTC. Now that you are leaving, there are lots of people who are newly introduced to the Crypto industry every day and most of them stayed the evidence for that is the current price in the market right now because if it's not for the new investors those old holders are not able to make the price up to this high. Thanks for the new support of the big companies and other people who trust bitcoin up to this point.

Each to their own!!!

If you think it better suits you to be away from Bitcoin, that's fine- you know better your own reasons for doing so.

Leaving BTC for good is another matter, I would not recommend if you intend to stay in the crypto market as I strongly believe that within 5-10 years you might be looking back regretting not staying in the market. Though, ultimately, it is your own decision. Good luck with whatever you decide  :)

It's so funny to read some of the comments here.
Dear people, there are no shortcuts in life and if you value something you should put all your best effort and work into it.
You guys don't understand that those who benefited most from bitcoin are the ones who spent countless hours researching it.
Feel free to leave bitcoin then, honey badger doesn't care

Those who are able to managed it properly and take advantage on it can really earn a lot. I can say I earn more in trading crypto as well just holding BTC than in my current job. But it's not just holding it there's a need to determine the right timing, the news and all in between about BTC to really gain profit. Those who invested early when BTC value is too low really did a good decision on holding on even the volatility is really high. It's good to leave especially if you're satisfied already with the profit and if really in need.

As a fellow pleb-investor, I believe he’ll be back. They always come back. Unless, he believes that he has made the profit/investment of his life-time in Bitcoin, then maybe he should move on to other more important life-goals.

Same feeling and thinking on my side mate while reading this Drama , i noticed that same thing in which made me wonder why.
I have been in many islands in my country that has almost the same community as what OP is telling and sad that it took me hard to have crypto related thing .
So i believe that this is a Complete attempt to earn merit for a Newbie account , Look that he created the account and after 6 days posted this one.

________________________________________________________

Maybe that's below 10k mare , because they even struggle to have foods in plates so spending funds for 10k value per Bitcoin won't be appropriate.

1.Nobody gives a s**t about why you are leaving Bitcoin.
2.Your "John Doe" story seems kinda irrelevant to Bitcoin.Poverty existed centuries before Bitcoin was created and it will continue to exist forever.Thinking that Bitcoin will lower poverty rates or end poverty is simply
naive.
You donated Bitcoin for charity,that's great,but it isn't enough to help a poor man.
Shit happens and death and suffering will never end on this world.

a government that has large funds alone cannot eradicated all poverty. The government can only reduce the poverty rate by helping you sell bitcoin to reduce the poverty rate, a very noble deed.

I understand what you were trying to deliver here, that not all of us has the same privilege to change our lives. Some people are really beyond poor that their earnings are just enough to feed themselves and survive every single day, which is heartbreaking. But Bitcoin's purpose I think and Bitcoin is not the one to be blame on this, we all know that Bitcoin is all about up and down and will not continuously just pump day by day, I hope you also know that.

The only mistake is to rely on just one source of income, and to your investment, that's why you're blaming it to Bitcoin, to pass the guilt. Anyway, there should be a lesson to every story, so I hope OP learned his lesson.

Without knowledge and technologies they need to use bitcoin, how they can use it? Electricity, internet and computer or even a cellphone is important in using this digital currency. Since the story is about the fisherman in a poor village then I think they really don't know how to use bitcoin that's why they keep it and quit.

It takes time for them to understand what is bitcoin?, how to use it?, how it can help them?, How their lives be change in using bitcoin?  There is a lot of things to consider before we can see the changes in everyones life using bitcoin specially in this kind of place where people is not educated and only rely on a simple job that they know.

Things happen. Nobody has any control over them. It's not bitcoins fault that they had to struggle with such troublesome situations.
Things would have been different if they were located in a better place. Sometimes we have to accept the truth and move on for a better living.
It's sad that they were unable to have a happy life and you did a really good thing by giving them a donation but it doesn't mean you should stop using bitcoin.
In fact you can take it positively in a way and earn more bitcoins so that you can donate more such needy people.
It's just a matter of perspective and life can be so much easy.

Just to say this, a single man's experience does not define the whole image of an ecosystem.  Anyway, I can't grasp the moral of the story.  It somehow revolves around a certain family and some charity actions, or does OP wanted cryptocurrency to be back as "underworld currency"only?



Sorry all I can see are these two quoted sentences mixed on the story of a family (which I think is actually a ploy to make the story a bit interesting)

I think that the crypto-anarchism, holders, those that we're calling for financial freedom, and those who were praising decentralization were all a bunch of liars. They had seen in Bitcoin the opportunity to get rich, even subconsciously and not admitting. Most of those that went into Bitcoin early are rich and not even hanging out in bitcointalk as they have businesses to run. Most of them have profited a lot from Bitcoin, in USD, and in material gains. But if you look closely while reading the early posts, also most of them didn't hide that all that mattered was the price in dollar terms.
If you take out every slogan and narrative, all that ever mattered was the price of bitcoin. It wasn't the network, the upgrades, nobody cared to make Bitcoin used as internet money. There were a few that had this in mind and quit saying that Bitcoin failed, but even those developers and early investors, they owned Bitcoin and sold when leaving, to get the money. This isn't about anything else but speculation on Bitcoin as an asset and how much it can be advertised and promoted.

there are so many points of view, we have to really have a stand and be wise about this. the decision to stay or leave the bitcoin ecosystem is everyone's right, but please don't spread fud or hatred,
all systems must have positive and negative sides :)

Just respect is all we need here. And yes, don't spread fud or give unnecessary information that will mislead other people. If you want to leave, then, leave quietly. We have our own perspectives on this matter. Just let other people spread their wings on their own.

Many middle to lower class people consider Bitcoin as a way to get wealth instantly, this is the wrong thing and can make a lot of FOMO people
and wrong decisions. Because many people forget that Bitcoin is a very high risk asset. Which means don't invest in Bitcoin using money for daily
needs. Many rich people and institutions love Bitcoin, because they invest using cold money. So there is no need to leave Bitcoin, because if we
know the correct way of investing in Bitcoin.

It is very easy to make profit on Bitcoin, so don't rush into the decision to leave Bitcoin when we experience a loss when investing in Bitcoin. But
try to think about the mistakes we have done, so by correcting these mistakes we can successfully get a profit from investing in Bitcoin.

I don't understand why you got out of cryptocurrency, did you have a loss? If so, maybe you are not well informed about cryptocurrency and in trading, not only buying and investing, but also looking at the situation.

I guess it is your own thing now to stay away from Bitcoin from how your story went with John Doe hmm. Just assuming you're telling the truth though.
Good luck to your journey out there, OP.

OP does not want to be a part of system that exploits bitcoin, OP was disenchanted with the wonders of bitcoin if I may say, bitcoin was supposed to help the people be free of the exploitative banking institution but instead OP felt that it will not be the case because OP see the other people of bitcoin community treat bitcoin as a way to make money for themselves. It is a profound reason that OP left the scene and I do not think that a shallow term like trading loss is the reason.

Farewell Mate , Hope you'll Find way to what you wanted in life ..

But one thing is for sure , you will Comeback in this space and will never prevent your self from seeking crypto to Hold.
You may fail this time but surely you have idea on how this happening and what can give you even that your pointing to be failure when you wanted to help a friend.

we have all dark part in crypto what you know who succeeded ? are those who keeps their investing even how many times they have already fail.

" I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return."

Bro, you have to do the hard work again because Bitcoin is not some sort of low priced coin or you can't get things for free. Everything has some price in terms of money, time, dedications etc.

Maybe he got lost in trading or crypto and it is hard for him to recover his loss. I think that will be up to him, and we can not force him to stay at the crypto if he does not feel comfortable. He can break for a while from crypto to think what next he should do. I hope that he can find the other way to help him make money and get a better life in the future.

Not having a bitcoin is not the reason to step out of cryptocurrency coz there are lots of potential coins and tokens out there. I did not own any as i had to sell it way back 2017 but it didn't stop me to be here coz i own ETH, BNB, XRP etc. If you lose, stand up and change your strategies. But leaving crypto is a choice, i just wish you would not regret it in the following years.

Op made a very heart touching post but you can not control how others will treat something. The fact is that BTC has now become store of value and means to move money instantly across the borders.
It will continue to progress in this direction.

You're right, mate. I also think that it will be difficult for everybody to stop using bitcoin as a way to make money for themselves because many people wanted and dreamed to become rich and reach their goals in life. I know we have our decisions in life, but OP shouldn't be leaving in bitcoin about it because he could continue his intention in using bitcoin as a currency.

That is why I said that OP's reason is profound, nobody would just go and abandon something this important, OP might have reasons that we wouldn't be able to understand because we can't place ourselves into OP's shoes. You're right, maybe OP could've stayed but would you be able to do the same if you were to experience what OP was experiencing, again try putting yourself in OP's shoes to understand.

you read the whole part ? nice but i did read it as well to understand what is going on and to have a better reply . what makes it heart touching is how he help poor people by giving them a bitcoin even if nothing will be left for him after that.

a currency is also store of value and btc is already a store of value right at the start but i think that investment assets is more suitable for this term and btc slowly becoming an investment asset . moving money across borders didnt mean investment but thats an example of a real currency use but btc can still be able to work that way .

Really regrettable with your will and idealism and treatment.
But is it, is it proving that leaving bitcoin is adequate, or is it due to the psychological impact that provoked the transition of pessimism? And certainly, looking at the bitcoin value of the present, everyone must regret.

I think that is a short decision while he does not think much and still trying to survive in crypto. If he can learn more about why he makes a mistake and knows how to find the solution, I think he does not have to leave bitcoin because bitcoin now has a good movement and can make a profit from bitcoin. But we can let him take a break for a while and think if that is the right decision or not.

I feel sorry for Doe, this is the situation with a lot of people out there who are also poor and trying the best they can to see that they achieve something and be able to take care of their family, it’s always not easy. I know people who are in same situation, they hardly can afford three square meals in a day, and then they want to invest their money in Bitcoin and see whether they will be lucky and situation will change, but then it’s not easy because sometimes when they try to invest the market doesn’t go up, rather it goes down and out of fear they will sell their coins, and they are not the type of people that can hold their coins for a long time.