Bitcoin Forum

This is a gentle reminder to all bitcoiners, whether they are beginners or veterans. Stay focused and do not get discouraged by the bear market, the news, or the FUD about bitcoin. It was just like in the old days when they castigated the internet and published many "doom and gloom" headlines, but now we are moving into Web 3.0. Frame this image and let it serve as a reminder that tough times will not last, but tough bitcoiners will.

Well, no matter how we want to be optimistic on Bitcoin, we still have to balance it up with the reality of existence – nothing lasts forever. Remember, there was a time we had the barter method as means of exchange and then fiat. Now we're (almost) in the digital bit financial world method. Bitcoin leads here and to the best of my perspicacity I believe that has everything to do with the phenomenal tech that came with it. That's the blockchain tech. Bitcoin may be overtaken in the future by another financial method. We can't for sure rule that out. Hopefully, blockchain remains and possibly metamorphose into something new.

I agree with the OP; everything has its cycles. Black stripes are necessarily replaced by white ones. The same will happen with bitcoin. I like such motivational themes aimed at believing in the future. Especially for beginners who come here and do not always correctly assess the state of affairs. There will always be alarmists who want to create a lot of drama, but I would prefer people who, despite everything, do not give up and believe.

Tim Draper still positive on $250K Bitcoin price prediction in 2023 (https://cointelegraph.com/news/tim-draper-still-positive-on-250k-bitcoin-price-prediction-in-2023)
Mark Cuban: “Cryptocurrencies will thrive even despite the fall of FTX” (https://coinworldstory.com/mark-cuban-cryptocurrencies-will-thrive-even-despite-the-fall-of-ftx/)

Truly there is no ground breaking innovations that come and dominate easily. They must pass through trial and growth period till it is widely acceptable.
Do not forget that more than a decade and as of today, bitcoin is still in its beta version.

Surely, many things will change about bitcoin and the entire cryptocurrency, but it is yet to establish let alone to extinct. There is so much great power in the blockchain and the goodness is that both the internet, blockchain and bitcoin is not controlled by a central server (government point). It is in our hands, even if bitcoin fails today, it will take less than two years to produce technology motivated by bitcoin that will be more advanced and acceptable than bitcoin.

What we owe an evolving technology is to have an open mind, so that we won't become that pastor that taught his audience to forbid the television because it is the devil's mirror, but today the same pastor broadcast his gospel via television.

Bitcoin indeed has come to stay and the role it's playing currently with the rate of its acceptability throughout the world is ever increasing, many people have thought about it coming to naught especially during uncertainty times when the price goes bearish but it has always prove them wrong being a genuine currency that has always maintain it's high esteemed value on global application and acceptance, the world will know this for sure that bitcoin has always been the answer to the solution needed in financial world economy.

Or maybe do. More opportunities for others to buy up your bitcoins from you cheap and sell at a premium to you later.

You don't even need to go as far back as the internet for reference, just as recently as the last bear market, Bitcoin was pronounced dead and lots of people gave up on it, and they were proved wrong later on.
The human instinct of doubt and comfort in the familiar would always exist and would prevent them from accepting innovations early on.

Here is my favorite,

The assholes of that time, 1996 to be exact, behind Governments, tried to even ban Internet phone software, but it all turned out a fail  ;D
If they failed to ban a centralized service, then how on earth will they manage to ban a decentralized network? Never!

You can't really compare Bitcoin to the Internet, just because both were criticized. Every invention has its own unique path. Bitcoin is not destined to become as popular as the Internet. Maybe it will, maybe it will not. If you want to make a good argument for Bitcoin's future, better find something concrete, like adoption statistics, development roadmap, etc.


We're absolutely not, Web 3.0 is just a marketing buzzword created by Ethereum marketing team to create an illusion that ETH is globally important. But no one outside of crypto community cares about it or wants it.

Damn, even electricity at first was frowned upon or even heavily criticized.

https://i.imgur.com/4oqMQNp.jpg
https://i.redd.it/cqwf9gpaqf311.jpg

But look now, electricity has become a basic need for everyone of us. Countless of wonderful things are happening because of it. But just like Bitcoin being heavily criticized for being a currency of criminals, the poster above also criticized electricity for what it is not.

But I guess human history is full of this. It's probably because humans who are already very comfortable with the status quo would normally resist something that disrupts and brings change. Change, which is what development basically is, is oftentimes uncomfortable.

Any new innovation will definitely have a hard time being accepted the first time.
In fact, not a few innovations that are present are often underestimated and considered insignificant at first.
Of course, even though this is indeed a bear market period, I have never been discouraged and have never stopped believing.
I think cryptocurrency will not stop here, I believe the development of crypto will be more rapid in the future.
I think crypto will be an important part of the development of the digital economy in the future.

Crypto will definitely thrive irrespective of bear or bull market shift. The reason I have no doubt about it is, if we consider the fact that a decentralized system unlike web 3.0 is a system that is technological and future based. Meta verse is also a concept though still in its developing stage is a result of advancement in technology of which Bitcoin or other crypto exchange is a perfect suitor when it comes to acquisition of such for use, also for other reasons of which concerns international border trade.

Bitcoin is just the beginning. We have seen the promise of decentralized currency, we have seen it's potential to change the financial world, and yet this is only the tip of the iceberg. Distributed networks will eventually grow beyond financial applications into social media platforms and other areas, taking decentralization and blockchain technology to new heights. It all depends, however, on whether we can get past all the hype and drama so that we can see it for what it really is: an ingenious piece of engineering that could become a fundamental building block of our future economy.

The Internet grew by leaps and bounds because it was a free and open network for anyone to use and build on. Bitcoin is similar in that there really are no costs involved in using the network. There are low transaction fees, but you don't need to get permission from anyone before using it.

After you spend years in this Cryptocurrency space you get to understand one thing for sure.  Most of those who say Bitcoin is doomed have no idea how Bitcoin works in the first place.  You hear all sorts of things that make no sense, from calling it a Ponzi to just very dumb ideas that make no sense unless you know nothing about Bitcoin besides that it 'makes you money' and is a Currency.

I also reached the conclusion that most journalists writing about a downfall of Bitcoin in excitement either have zero clue about Bitcoin or they ran out of ideas or hate Bitcoin out of jealousy.  Bitcoin is here to stay.  About anybody who knows about Bitcoin knows one thing, it is not going to be a short lived project.

-
Regards,
PrivacyG

Yeah,
This is actually gonna happen in reality. You Know what builds my confidence top-notch? It's the fact that some investors that were against btc, in the days when it was worth nothing, it couldn't reckon as a durable tender (yeah, it's durable now.... Wavering on the price rate due to the market structure isn't happening for the first time and, atleast -- for several years -- it has proven that, with some voluminous pages of TURN UPs, in every ATH; the latter which could have been made to recover lost involvement and accumulate profits, that's been due, overtime.), It was even used to purchase a pizza and yeah? How's that supposed to make much sense to 'em by then? But look at it now.... They keep turning away from investing on/with their so-called Fiat and, they keep seeking for the least slots to have. If this uncommon transformation has been consistent, then it came to STAY.... I mean, if y'all keep doubting, believe me, you're just gonna suffer the same fate, as those willy-crafted investors.

Sandra 💇

If not for the top enemies and obvious ones that bitcoin has, with the rate of adoption of Bitcoin so far it would have made a groundbreaking wide adoption in the world.
It is just that the enemies of bitcoins are too much ranging from the government to the financial institutions, labelling bitcoin as criminal money and means of money laundering and sponsoring wars.
It did not end there, they always present the energy problems of bitcoin using it against bitcoin to ban its mining at any slightest mistake.

But the continues existence of bitcoin has already proved the enemies of bitcoin wrong. Bitcoin has died many times in the mouth and minds of many and yet it is still alive. I see future in bitcoin and I believe there are many who see what I am seeing.

It takes about ten years for Internet to recover from its first bubble in March 2000. Wiki (https://en.wikipedia.org/wiki/Dot-com_bubble)

After that, a few years later, Internet actually invades more in human lives and changes the world a lot. Nowadays, society needs Internet to operate in many fields if not all. I don't agree if anyone says we can not live without Internet because I believe in fact we should live as most natural friendly as possible. It can help us to refresh our minds and it is a good pill for so many issues in modern life from mental to physical problems. Staying in front of digital screen all days, all times is not healthy.

Now, the same will happen for blockchain and cryptocurrency. If we consider FTX collapse as a bubble, what will happen with blockchain and cryptocurrency ten years later? I strongly believe that best have yet come.

Bitcoin is a currency not a "financial method", but it still is a weird thing to say about a decade old technology. It is not like bitcoin were created half a century ago! Bitcoin is still a toddler as technologies go specially when you consider its adoption is still very low and the innovation in alternative cryptocurrency scene is basically non-existent.

Instead of staying away from FUDs, we'd rather help ourselves ready to see them. Because whether we like it or not, FUDs will exist and some whales use this to manipulate the market. But despite all of these things, I remain optimistic and trusted Bitcoin. Might some people be worried about the future of Bitcoin but I know they will change their view once they see that Bitcoin recovers from the dip. I'd see that appreciation comes late and if this will never happen in crypto, nobody will ever believe the potentiality of this technology.

Comparing Bitcoin to the Internet does not include any logical comparison due to the fundamental differences between both technologies, but it may affect the extent of the impact of demand to break all restrictions, despite the differences that occur between the world, but the Internet connects almost all the world's population. And so will Bitcoin.

Such comparisons will lead to the emotional investment that has been the main reason for many losing their investments over the past two years.

I would not agree that there is too much logic to compare the Internet and Bitcoin, because regardless of what some people think, they are two completely different things.

Let's take for example the case that you want to explain the Internet and its use to someone - you need a computer, a browser and an Internet connection. A person opens a browser, enters the term he is interested in into the search engine and gets the results from which he chooses what suits him best - it doesn't take more than 5 minutes for someone to master that process.

Try to explain to that same person what Bitcoin is in the most basic terms, with the addition of how to safely install a wallet, how to buy Bitcoin and how to make a transaction - many will certainly not understand everything at first, and some will not be able to understand at all.

In the almost 13 years of Bitcoin's existence, we are talking about the fact that it is currently owned by 1-2% of the total world population, while some estimates say that around 5% of people in total are in possession of some cryptocurrency. What I want to say is that it will be much harder for people to accept (understand) Bitcoin than the Internet, which, unlike Bitcoin, is not an alternative but something that has become a generally accepted technology practically necessary in everyday life.

Well, by "method" I mean "system" and by system I mean "innovation". Putting it simple, what I meant there was that there could be another system that could displace Bitcoin in the future. We can't say for certain there won't be, no matter how a Bitcoin maximalist we want to claim we're. If slightly more than a decade ago there was nothing like Bitcoin, what makes you think that a decade from now there won't be a replacement for Bitcoin?

I've also read a story about someone's dream who wants to make humans fly, criticized by many people at that time. Ordinary peoples always criticize things that are "out of the box" because they are comfortable with what they are used to seeing and experiencing -- but different from extraordinary people who want to make the world and people better with technology and their thinking, they want changes that have a big impact on people.

Bitcoin has changed the lives of many people and also the world by 180%, if there is still someone who criticizes Bitcoin and that it is useless for the future, that person must be someone who lives and has ordinary thoughts.

Sure, but its' look different between bitcoin and web 3.0?. right?.
web 3.0 is leaning toward to altcoin, while bitcoin is more related in currency, bitcoin is only focusing on payment, just look at white paper; A Peer-to-Peer Electronic Cash System, I don't know what the related bitcoin between internet from 90's past?

To see a replacement we first have to be a significant improvement in the technology. Such improvements can't happen overnight, a lot of people have to be working on alternative solutions for them to thrive into something significantly better than bitcoin to be able to "replace it".
So far we have not seen any serious effort in developing newer technologies. Only copycats trying to rehash the same ideas to make some quick money.

I can see serious competition for bitcoin in the following 1-2 decades but I don't see a replacement in at least 50.

The main source code is Bitcoin and nothing has replaced it yet. in fact, many imitators claim they are better than Bitcoin.
Bitcoin's successor will probably make Bitcoin 2.0 a significant improvement, but still decentralized, not straying from the centralized technology currently used by many other projects.