Bitcoin Forum

At the bookstore today I saw some book about the rise and fall of crypto. On the front cover it was saying crypto went mainstream in 2021 and then collapsed in 2022 culminating in the FTX collapse. The book was definitely partially about the FTX collapse, but it also referred to the entire market as having collapsed, hence the "Fall" part of rise and fall. The final sentence on the front cover mentioned something about the collective delusion that led to this rise and fall of the $3 trillion market.


It hit me that the author, who presumably did a lot of research into the industry in order to write the book, is basing his book on the idea that crypto has collapsed permanently after having a short moment in the mainstream in 2021 (though you coulda said the exact same thing about 2017).

I almost laughed out loud cuz here is an author that did enough research to write an entire book, far more research into the space than the average person does, and even the author doesn't understand what anyone who actually participates in the market easily understands - that the market is cyclical and the 2022 crash was not an end event for the industry but simply the end of a market cycle leading into the next larger market cycle.

Knowing that the market goes through four year cycles and each one is bigger and each big crash and bear market is just a temporary downturn before the market grows vastly larger than it previously was...this is extremely basic knowledge for everyone in the industry. But someone who wrote a whole book on the topic doesn't even understand that! It just really blew my mind. The author thought he was writing about the collapse of the market, yet he would be laughed out of the room by anyone with even a little understand of the market. What is it going to take to educate people on bitcoin and the crypto market?? Every four years its like the general public has a complete reset and thinks bitcoin is going through a bubble for the first time and then dies for good. And they completely forget that it did the same thing a few years earlier likely when they first heard about Bitcoin in 2017 (they probably don't know it had done it a few times before that too).

But just like how do we get the average person out of the repeating delusion that every bull run must be the last and every new bear market is bitcoin and crypto finally collapsing for good? Cuz I mean the average person legit thinks that bitcoin is over during each bear market, they literally think "oh I missed out on that bubble". A friend of mine even said that to me like a month ago, she asked what I had my money in and I told her Bitcoin and her response was oh I missed out on that. She just assumed that it was a one time bubble that was over.

How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.

I do believe that the book you saw is just simply a bad representation of books it is quite confusing how a book with misinformation managed to get published but i guess it happens especially crypto is not exactly yet well understood by the general public

How do we educate people? I am still going to answer books at least that is one of the many ways to learn about crypto if you are going to buy a book to read or learn about crypto first thing you should do is check who is the author and what are his or her credentials check whether they are capable of writing let alone spreading information regarding the topic at hand it is hard to persuade a person if you were just to talk about it because they already have preconceived notions just like your friend sometimes it is pointless to keep teaching them about it because at some point they are gonna see the growth of crypto or bitcoin and will experience FOMO

People should draw much clearer lines between the term "crypto" or cryptocurrencies and "bitcoin".

The book you described seems crazy to talk about a fall just because the FTX thing. But we know that "crypto" that includes altcoins has had lots of falls. There are countless altcoins that were created, pumped to the moon to have their short moment in the sun but then got dumped and shortly after that they died for good. So at least the title "rise and fall of crypto" is precisely describing these cryptos and it has nothing to do with bitcoin.

This important distinction falls in the same line as the distinction between Bitcoin and centralized exchanges and their demise (like FTX).

i'm curious about the book you said, because how could an unedifying book like that be able to enter a bookstore and be sold to many people. the author should find out more about the topic he wants to discuss, not just find out from several sources and then conclude for himself that the crypto market collapsed when the ftx crashed.

he should understand that bitcoin is currently increasing in adoption and is being traded by many people. what if the person who bought the book discovers the fact that the crypto market is on the rise and loses momentum to invest in it? doesn't he feel guilty? or not afraid that people will attack him and boycott his book?

this is the reason why i don't really trust the books in bookstores, because most authors only draw their own conclusions based on their perspective and are blind to the facts of what is happening.

What you seem to be saying is that when the price of Bitcoin rises then people think it's the next big thing, and when it falls they think it's a bubble that's been popped.

That's definitely my experience. Most of the time the argument in favor of crypto and blockchain I hear is, "look how much the price went up". Since blockchain technology makes it impossible for a cryptocurrency based on it to truly scale to the needs of a mainstream digital currency, Bitcoin and the others will always be a speculation instrument and nothing more. It will go up in value, and it will go down in value. People, by the millions, love this sort of thing (gambling?), so Bitcoin will always have an audience at least of some kind.

How high can it go? The sky's the limit. How low can it go? There's nothing stopping it from going to zero :-).

Either the author (who, like you said, would have had to have done a lot of research in order to have written a book about the space) knows something that we don't, the author does not know how to distinguish between FTX and the rest of the market, or, what you have just picked us propaganda. If it is the latter, this is coming from somewhere much higher than the author and it is designed for those who don't understand the value in the space, to never touch it.

We have to remember that only a few per hundred will actually accumulate a significant enough amount of cryptocurrency to be able to survive in the event that the dollar or fiat currencies do go south. These books are designed to keep it that way. If books were encouraging and informing people about cryptocurrency, the world would be very different and the market would react not too long after the learning begins.



+1


It's the same as the share market. People become fearful after they see a crash, they never touch the share market again, and it takes new highs for them to re-enter. You will see the same thing this time. That girl friend you referred to, she will probably buy bitcoin at $250k-$500k if she does not consult with you about it...and even if she does, and you say "It's too high" at $200k or $300k, she might buy it at $400k anyway because she might think you don't know what you are talking about because you said it was too high at $200k-$300k...lol

It's a vicious cycle. Only those who break out of it will benefit, though the consequence is hearing the noise from those who fall victim to the vicious cycle each time.

The future of Bitcoin is bright and nothing is as bad as a lack of knowledge, and experience is the best master. But as we think in that direction, we should also know that it is not the fault of those who could have doubt of mind in the rising of Bitcoin at times, they might have trusted it one time but failed them, people have their stories and reasons for their scepticism. Even the current chart pattern could be scary to those who are not conversant to the way the market behaves, so it could be either way.

But anyway it is, we should know that none of the two categories are perfect, and if anyone still buys Bitcoin, such a person is taking a risk, nothing is short of that as you can ever believe. Now, it is not everybody that is willing to take the risk for many reasons, some people might think that if at all Bitcoin rises, it won't rise so much more again, and by this, they might have their doubts about any significant rise. Wait a minute, what if Bitcoin fails to deliver this time, what will you do? So, people are still within the right thought to be careful or have doubts. In all, Bitcoin is the number one among the cryptocurrencies, and it will ever be rising, but that is my own belief. It might take a little while but it will rise and it might not rise so much as many might thought, but rising will not be deprived. It has stood the test of time many times, especially when dangerous bad news happened, yet it stands. For the 4-cycle bullish movements, the coin will always gain power periodically even if everything else was against it before the 4-cycle period.

after the 2025 ATH the author will probably write a sequal calling out the 2026 correction back down to value from premium.. and call it the rise and fall v2

after the 2029 ATH the author will probably write a sequal calling out the 2030 correction back down to value from premium.. and call it the rise and fall v3

all the author done was make some silly clickbait title. and take some nonsense social drama to back up a clickbait title. to get idiots to read it. after all smart people dont buy dumb books

He should change the title to "Rise and Fall of FTT" instead of crypto.

Such book shouldn't exist at all since many thing quickly changed, there's a token that the price went up to 1000x times in a day, there's a token exit scam etc. If the fall of biggest exchange (Mt.Gox) in 2014 doesn't make Bitcoin fall, any exchange that could fall in the future has no long term effect to Bitcoin.

Through the way you describe, I feel the linearity from the author you mentioned, the crypto market brings attention and doubt through each stage to those who don't really care much about the operation. Since the day I learned about Bitcoin as well as crypto, I have always felt its growing development process, but I can be frank, but there are not many people who realize the potential and accompany the market. It's true that they really don't understand it, maybe because it's easy to own, they just think it's simply a profit-seeking application that comes with surrounding news like an attachment. I also have a feeling that adoption is growing in scale, which can be expected from the perception of participants being influenced by the legitimacy that, according to confirmation from the government, our knowledge of the market. This and seeing the opportunity with it can be seen as a priority for those who come first. Although is not too confident to confirm that it is completely good, I will accept the fact that I believe bitcoin will be very big in the future.

I agree with the op that, by some accounts, cryptos became mainstream in 2017 because they gained tons of attention during that bull market. On the other hand, one could argue that Bitcoin (and cryptos in general) still isn't mainstream because only a tiny minority of the world population actually owns it. But as for FTX collapse, I'd actually say it had a pretty minor impact on the crypto market. Bitcoin went down from around $20k to below $17k, but then recovered to $20k+ in just a couple of months. And that was the end of its impact. Then the market started slowly recovering over 2023, so there was no market collapse.

Growing how? Price-wise? Yes, the price is going higher and higher against the USD if that’s what you mean. If you are talking about worldwide user adoption of btc, then I don’t think that’s the case because of the high fees. Right now getting included in the next block costs ~$9-10. And if you pay $4, your tx will get a confirmation in 24h. A network as expensive as this is its own enemy. These fees will drive away users to alts… Don’t get me wrong, people want to use btc but they can’t…

You got it wrong we cannot measure Bitcoin's just by the market cap or its increasing price because it would be useless if it's not used for the purpose it was created as users will never adopt Bitcoin if the fees continues to be sky-high and moreover it would lose it's userbase to other coins. I would consider Bitcoin as growing only when we see more adaptability rate and Bitcoin transaction should become as easy as UPI or any other altcoins transactions.

Indeed, Bitcoin and cryptocurrency are cyclical, but the public rarely realizes it. Almost funny, right? How "boom and bust" overshadows market resiliency. As informed participants, we understand this cycle, but the public is misled. For what reason?

To begin with, there is a major impact from the sensationalism of the media. Bitcoin's stability is distorted by their emphasis on spectacular movements. Second, human psychology favors sudden rise and fall stories, which appeal but deceive. Finally, financial literacy is lacking. The average person doesnt comprehend market dynamics, especially in cryptocurrencies' young industry.

Our role? Educate and demonstrate. Share our knowledge to refute myths with facts and history. We can also demonstrate Bitcoin's long-term potential by being resilient in our investment methods. To change the public's perception of Bitcoin's growth trajectory is difficult but worthwhile.

You should have taken a picture of that book. My guess is that it's probably written by a local author. I doubt if an international publisher is that negligent or incompetent in accepting a book for publication even if it is obviously full of errors. And to think that it is probably published just within this year, it's unimaginable how a screening committee approved it. I mean, it's very easy to check on Bitcoin's price and volume and adoption.

Anyone today can be a journalist or write a book, and that has become especially easy since the advent of AI chat bots that do it very quickly and cheaply instead of people. So I don't think you should get too excited about a book that is obviously written by an amateur who believes that Bitcoin was created in 2017 or 2020, or that Bitcoin has anything to do with people like Bankman or Do Kwon.

The so-called "general public" in part understands that Bitcoin is something like shares or some kind of digital gold, and this should not be at all strange to us, considering that most people on this forum consider Bitcoin to be only a good investment. When it comes to education, I think that everyone can educate themselves very well about what Bitcoin is, given that all knowledge is publicly available online - and for those who don't want to or don't know how to use search engines, it's not something they should to think at all.

As for some people persistently repeating that they missed the chance, I think that these are lost cases - because I know some people personally who found Bitcoin expensive when it was worth a few hundred $, when it was a few thousand $, and especially now when it is worth tens of thousands of $. The one who wants to find an excuse will always find it no matter what.

The author is not the general public. The author is just one man or woman who has made research but only to prove that Bitcoin has failed. If you are already biased on a certain topic and you make research, then you will be able to come up with facts and data that would somehow validate your bias. You can talk about FTX, hacks, negative regulations, etc. These may be facts but they do not conclude anything. The author was the one who made the conclusions out of the facts. And he concluded wrongly.

Most people who want to paint a negative picture of Bitcoin are actually not talking about Bitcoin. Just like the author.

FTX collapsed back then and not bitcoin or cryptocurrency as a matter of fact, ever since after FXT collapse, we have some other experience related while some have already happened before FXT, the first experience MTGox, those are not the rise and fall of cryptocurrency but rather exchanges, you can't even compare the bitcoin volatility as the rise and fall or a prolonged dip as fall as the case may be.


But it shouldn't have been crypto fall then, it's about scam or exchange fall, bitcoin never have such experience before and yet remain strong amidst the complicated volatile market.

Well I think the author of that book was baise in both his research and publication,he was focused more on the collapse of ftx without having idea about bitcoin in General and the role ftx played in bitcoin community. At the time of FTX collapse in November 2022 it was the 3rd largest crypto exchange in the world,so it is normal that there would be mistrust among public,and as well subsequent toppling of cryptocurrency service that did business with it. But that is an isolated case that has no bearing to the value of bitcoin.

Iven thou there was a dip at the time,Bitcoin has soared ever since..to be fair do many people have come to accept bitcoin and what it represents,the acceptance of bitcoin in 2023 can not be compared to what we had in 2017 or 2018 or iven 2021.i see alot start up businesses that are heavily into crypto exchange,and these start ups are been funded by reputable organisations,so the idea of the general public still doest understand  bitcoin is a little bit  deceptive,because in my own view,every day people get to know about bitcoin,but ofcoure in every society there would be some individuals who are still far from reality and would have a different opinion,but that is no way the opinion of the public.

So OP,the said writer have zero knowledge about bitcoin,and his opinion is no way the opinion of the General topic,believe me bitcoin aware in this year is incredible and it will increases in subsequent years.

market cap is a meaningless number

utility is the subject.
and seeing how big corporations are adopting bitcoin, it shows they see the future.
im not a fan of them but just seeing the depths they are wiling to go to to get involved shows they see bitcoins longevity

years ago when newbies asked is bitcoin useful. i used to order them a fast food delivery via bitcoin to show it can buy real things
these days it just requires showing the battles of blackrock vs the SEC getting an ETF started to show that the elites are taking bitcoin serious for future business needs
these days even showing blackrock not just spending millions on legal team for the ETF but also they are investing in mining operations and other businesses related to the bitcoin ecosphere

we have moved well passed the era of self employed microbusinesses of alpaca socks, bitcoin cupcakes and pizza trades. we are now in the era of pension funds and international remittance

Right. People usually get excited about Bitcoin and other cryptocurrencies when their prices go up and skeptical when they drop. Even though there's talk about blockchain's limitations for widespread use, many see Bitcoin and others as more of a speculative game than a serious currency. It's like a gamble that attracts a massive audience. Predicting where Bitcoin's headed is anyone's guess and some think it could skyrocket, while others wouldn't be surprised if it crashes to nothing. It's a wild ride and the whole crypto thing is still up in the air.

You hit the nail on the head here for me. Something going up in price doesn't mean it's "growing" by almost any definition--especially when the price could just go down just as easily.

I personally think Bitcoin's problems with scalability are architectural and will never be solved, which relegates it, permanently, to being a speculation instrument and nothing more.

The crypto market did take a big dump when FTX collapsed. the author was probably discussing about that. Bitcoin Dropped to a 2-year Lowest price.. Tether (USDT) de-pegged and dropped to 0.97. Solana's price dropped as well along with lots of coins and tokens. so yeah that was pretty much a fall in crypto market..

Now Finally market is destabilizing, Bitcoin and other Altcoins increasing, and Solana went from $20 to $120. Hopefully, those Mainstream Authors and publications will understand soon that these kinds of accidents won't effect the crypto market much. there will be ups and downs. but the market will never completely collapse.

The marker had always been moving in a downward and upward trend and this will continue for the market to keep growing. This ethay thanks that once the market price goes down, it means the bear has come. The market will always go down to balance momentum and to allow people that want to buy at a lower price to enter the market and create liquidity for a bull market.
Once we are investors, we need to learn about Bitcoin so that we can market profits from the market without being ignorant.

In general with today's content, the source has to be verified, and this process is not something new, however with the mediocrity that is experienced and that young people believe what they see, read or hear without checking anything, then there are bandits out there creating anything, because these "things" are consumed.

As for people or the public in general, man, everyone must be aware of what they do, believe or follow, we are no longer a society that has to be leading everyone by the hand, please! Everyone doing your part.

I guess they just didn't do their research and assumed that because FTX fell that it was the end of crypto as we know it. SMH. It definitely put a huge damper on things and for quite a while if I might add but it was definitely not the end of Bitcoin as we know it. SBF is definitely going to pay for that 100 fold because he is not in for a fun future I don't think. Bitcoin is definitely strong, and just needs to sort out this Orinals issue...

As long as people are unwilling to learn what crypto and Bitcoin are, they will continue to think that it is just a bubble that will pass. They don't realize that Bitcoin is still surviving and even getting stronger. We can't educate them to realize that if they don't want to learn to accept new things.

When they hear the price spikes of Bitcoin and altcoins, they think it's the same thing they've already encountered. They thought it would disappear like before and would appear again. But if they realize that crypto and Bitcoin are still around, they will realize they are too late to invest in Bitcoin.

And what they saw with FTX was the market crash and not Bitcoin or even the altcoins. Maybe later, there will be a market that experiences something similar, and they will also think the same thing. We can't educate them if we don't want to learn the truth. So leave them like that until they really realize it.

Same goes on other fields (music, photography, video, etc..). Thanks to the technology we have now. But it's true what they say that technology can also make us dumb. I think one example is the topic we have here. That is when we rely too much on them like when we use AI chat bots. We don't know that they are not accurate enough and can give us false information sometimes. BTC seems still a new thing, so there will be people who feel excited when they see stuffs related to it like a book.

It is only funny and disappointing that some books are not properly written. Those who don't know how to use a search engine should work their way on knowing it. So that they can verify what they see if it's true or not. They should only be careful because not all that we see online are also true. The last thing that you said is annoying but they are not lost cases since it is still occurring up until now.

Wasn't FTX just a continuation of what preceded the collapse of the entire market? The collapse of the project launched by Do Kwon had an even greater effect on the cryptocurrency market, because we are talking about tens of billions of dollars (and some say over $100 billion) of damage. It will never be clear to me how anyone can trust people who at first glance seem incompetent, not to mention the fact that one of them already has a history of bad business moves.


How can you talk about destabilization and at the same time say that Bitcoin and altcoins are "increasing"?

The internet has a lot of material about Bitcoin for anyone who cares to invest in the sector. That is why we are encouraged to do our research. Most of the books that have been written are authored by humans that has emotions and limitations. Some of these authors are sponsored by forces that are against Bitcoin to right rubbish about the sector. Others claim to be crypto experts when they know nothing about the industry. We just have the responsibility of educating people who are interested in Bitcoin but they have the responsibility to do their research.

FTX case was a collapse of a firm and not a crash of the crypto market. The company was managed by a group of inexperienced individuals who misused the money of investors. It was nothing but a clear scam case and has nothing to do with the crypto market 

Bitcoin and crypto's been dead for so many times now I may as well call it the rezombification everytime it gets relevant again. It's like every time some idiot who knows jackshit about bitcoin loses money on the crypto industry after they bought high and sold low loses their money they always presume that bitcoin/crypto is dead, and I think this author's on the same boat. Or perhaps he's trying to sensationalize the hate against crypto once again and is using FTX as the driving force to tell people in evidence that crypto is already dead for good and there's nothing you can do about it. LOL. We all know what the truth is and what is already brewing above us so yeah, let this stupid author sell books while the rest of us here are earning money more than he will ever see in his damn life.

But of course, proper education about what really is crypto all about's more important than telling people they will be rich, or that bitcoin's dead. The only problem we have with that is the fact that misinformation spreads faster than facts. Not to mention the fact that the average human being's attention span is fucked beyond repair, and we got people who would believe anything they first saw.

I used to create bait articles in the past where I would make a headline about something so sensational about bitcoin's death only to slowly marinate the reader into realizing that bitcoin's not death, basically reel them in with misinformation, and then beat them in the face with facts and logic. I don't know if stuff like these will still work, but hey, worth a try right?

I think a big part of the disconnect is that most people don't understand the power of a meme, which is what Bitcoin is, and what major brand names like Coca Cola are. People will always pay a lot more money for a shirt that says "Gucci" on it than a shirt that says, "Fruit of the Loom". The value might fluctuate over time, and memes are completely hype-driven and very volatile, but the ones that have been around for a while like Bitcoin will necessarily have a lot of staying power as well.
 
This conversation gets confused by the common mythos of Bitcoin and cryptos generally, e.g. that they will "take over existing currencies" or that they represent some vague notion of "freedom" or something. All of those arguments are very easy to refute, and Bitcoin isn't going to do any of those things and that's okay because it doesn't need to: Bitcoin's power comes from the name "Bitcoin" and the fact that so many people think it's valuable. It has become this valuable despite most of the mythology about it being false or unfounded.

If you understand Bitcoin to be the "mother of all memecoins"--and nothing more--then the market dynamics are much easier to understand and predict.

Not having enough knowledge is dangerous and this book you mentioned really proves it. Maybe the author of the book is really smart and going for the negative promotion by creating false information in his book or he could be a total dumb ass who does not know anything about the real cryptocurrency or Bitcoin.
Right now it is really hard to get knowledge from any source as none of them are quite genuine. People are spreading all kind of false information just to get money or become famous.
I can literally write thousands of books about anything I find on the internet using some kind of AI tools and sell them to make profit but I will not go through everything to search for errors that might have been put there for outdated data. My point is, anyone can become influencers and influence people in the wrong way.
Stay away from this kind of thing and try to do things that you feel is right.
Don't pay too much attention to others as their losses could be our profit. That's how the market works. Help yourself and forget about others if you want to be successful in this line of work.

Such books are merely representation of negative stories that happened. They are just titling it with smart marketing geeks. I mean peeps these days want to know negative sides or may be bad stuff. Its nature of peeps to get attracted bad stuff more than the positive stuff. Considering FTX collapse was the most hot topic last year, they made perfect entry with its context in it. I think they thought this true and it was just in the want of making quick money. At least I think this way when I see such books on shelf.

Now coming back to the title of this, I think connecting Bitcoin with FTX collapse is way opposite. I dont like it whenever something negative happens in the market then everyone starts talking about Bitcoin as center point. Whether its Binance getting kicked out of US or its Silicone valley getting robbed they point at Bitcoin only. So these books are just getting published out of making quick bucks.

I think there is a bit of a miss here because until now bitcoin is not a global currency as you say.
In this case i still support bitcoin and when asking about how to tell that bitcoin is one of the investment assets that is quite feasible maybe this can still be done but to claim bitcoin of global currency is still very far away because now we are still in commodities and it cannot be said to be a global currency at this time.

The amount of miss information because indeed some people who have an interest do not want to make bitcoin look further with their power they are still trying to cover up the truth about bitcoin it will certainly still be very disturbing but in this case of course as long as there is internet and the development of technology is getting more comprehensive I think bitcoin will continue to grow and now also its development has looked very good.

Well, I can't blame some people who have a negative view of cryptocurrency or Bitcoin because of some misinformation. We have seen and read a lot of articles on the internet and many of them have contradictions of views, it was very confusing to which article and author to believe. Some authors are focusing on the negative side of crypto and some are also on the positive side. It has a huge influence on the reader especially if they are new in the market, they will believe in the wrong information.

To evaluate the case, I encourage people to do it in actuality just to know better about crypto or Bitcoin. Market exposure is the best way to learn rather than reading books, reading articles, or watching videos.

You don't really need to educate anyone, people will see it for themselves. Bitcoin has been proclaimed dead hundreds of times, every bear market is being called "a crash" as if it was a big deal, and yet Bitcoin is still strong and still growing. Each day someone new decides to invest in Bitcoin for long term, and that's already a good result.

Well, Bitcoin isn't "growing" in the sense of the amount of available supply since mining is completed. Is it "growing" in any other way? Is there any evidence (and any way to tell) if the number of individual holders have increased? Is there a way to show, in terms of hard numbers, that Bitcoin is "growing" besides it's price, which can go down as well as up?

I would argue that it is a "global" considering that the whole is using it right now, yes it's quite true that we should consider the situation to be a lot better and that would make sure that we should consider the situation a little different. I personally we should consider the best thing we could do at this point we could just consider the whole world using it, there are even users from the smallest nations and that's why that is quite important and that should be the key here.

I believe that people should consider to learn more and more about it, using it without consider the situation to be a lot more difficult and that should be a lot better for everyone if they all end up learning what they could do and we could definitely consider this as the betterment of bitcoin, it should always consider growing as a good thing and it would help bitcoin a lot, it might be used all around the world but that doesn't mean that it's understood all around the world as well.

Would you mind sharing with us more info about the book and the author? Why do you want to keep the book name and the author name a secret? I can assume that this book was written back in 2022 and it's currently outdated. A lot of crypto haters are making the mistake of linking the crypto price drops with the doom of the entire crypto market. They also make the mistake of thinking that the collapse of a big crypto exchange would lead to the collapse of the entire cryptocurrency market. It's like thinking that the e-commerce industry is going to collapse just because Amazon or eBay go bankrupt. Total nonsense, if you ask me.
Anyway, the haters gonna hate, no matter what. ;D

For the fact that the decentralized network houses many other cryptocurrencies is reason enough why the failure of one will make the others perform even better, because the truth is that cryptocurrencies are currencies of the future  and right now, the competition to be top and number one among others is what make investors have more money.
The price increase of BTC to almost 43k now, makes it have more value and make it become an over priced asset in the market now, mostly for those who don't understand how to use it or make profit from it.

Overlooking the halving, there is much anticipated growth with new user potential and legal adoption as a currency for transactions and payments.

Yes since somehow not people is open for every information they receive and if they show something unusual to them maybe they feel bad about it then call us a scammer since they might think that we are recruiting them for those scams. That's why sometimes I don't talk about bitcoin to other people especially if I don't see much any interest since I think its waste of time and would rather spend my energy to those people showing some interest to know about bitcoin.

People need to discover it and I think there are so many ways for them to discover that so its really up for the person to do a research if they are really have an interest to participate. Mainstream media nowadays are slowly sharing information about crypto so I think for now that's enough for people to know somethings about it and its up for them if they reach us then ask for help to educate them since this type of people is worth to teach since they are eager to know about bitcoin.

Why do people read books about things that they can learn more about if they do simple research on the internet? I'm not saying that books are useless, but the fact that anyone can write absolutely anything about a subject, whether it's true or false, and the readers might get misguided by that information. Only books that are written by good and trusted authors should be given value and their information and details should be taken as right and true.

Some authors that don't have enough experience and knowledge about certain things will write a bunch of rubbish in the name of facts because the research they did doesn't cover all the details or they simply ignore the positive things deliberately because they are willing to show a negative picture regarding that topic to the general public.

This is why one should use multiple sources to verify what they read about, and one cannot read multiple books for that which is why it's better to do simple research on the internet regarding the subject.

Now the mainstream media is increasingly aggressively reporting about crypto or about the development of Bitcoin.
I usually see a lot of crypto news via Twitter (X) and there will be a lot of the latest news that appears.

So if the general public doesn't already know about Bitcoin's development, they are completely untouched by any crypto news to date.
The need to inform the right information about crypto developments will be very helpful.

Sometimes they are interested and will come in to invest, this will be a good initial education to introduce Bitcoin.
Do not let crypto-hating media provide negative information about crypto so that those who are still early in are affected by FUD that is widely spread.

Shows that not all books and authors are worth reading.

Simple correction of the misinformation that they have can go a long way. Some of the people who have been setback by this wrong information they possess about bitcoins are educated, and a proof of education is the ability to learn, unlearn and relearn. Providing the proper information to these folks, will assist in their unlearning and relearning process.

This is about how a writer understands and knows the bitcoin journey process and maybe the book you are looking at still has other connections. But he didn't explain the bitcoin process completely in just one book because the author's habit is usually to make readers come back to wait for the release of the next book and this is just my assumption. But if he says out of thin air that bitcoin has irreversibly regressed or collapsed in 2021, then I conclude he's not one of the authors worthy of being a favorite.

Why do I say that because he is too lazy to look for references regarding sources regarding Bitcoin's journey from when it was created to the process of its journey in the market until now. We know the four-year cycle in bitcoin and but to say that crypto in general has experienced a collapse is also wrong because the industry is basically growing.

In my opinion, the writer was just trying to write a book and didn't study the process properly from the beginning until they wrote the book and the writer missed a lot so that when he wrote the book it was based on what he knew and was not correct with exact certainty.
What you say is very correct, the author's lack of references means they write based on what they see and don't look for various references that make their writing appropriate to what is happening and I really believe in the four year cycle in Bitcoin and we can see in these few months the price of Bitcoin has experienced good improvement.

A good writer will look for a lot of information from all sources to complete what he wants to write. It seems like the author didn't look for more information, so there is still something incomplete in his book. Hopefully, buyers of the book will look for other information through it so they can understand Bitcoin and crypto better.

If the author wants to look for information on the internet, he will find many trusted sources, especially if he wants to look for it in this forum. But it depends on his efforts in searching for the information because he may feel that what he is looking for is enough and immediately make a book. People now rely more on looking for information from the internet because there are more sources and they can get more information. And they can get this information for free by just browsing the internet.

If the book's author could have seen what would happen to Bitcoin, he would have felt that something was missing in his book. He will probably release future books about Bitcoin based on what he finds. But it depends on whether he wants to find out more information or not. Hopefully, other book authors can provide more complete information.

Professional writers will look for many sources to strengthen their writing because that is what a writer should do. If it is true that the author of the book did not learn the complete truth about Bitcoin then the book is not worth reading because it will create a misleading understanding for those who read it. That's why not all books are worth reading, and vice versa regarding videos made by people who don't have a clear source of truth.

The conclusion may be that the author is not very professional because he risked his credibility after publishing the book and now almost many people will never want to follow his writing after the facts about the book are quite misleading. Almost everyone knows the fact about four years in Bitcoin and maybe we need to provide education about this to the author of the book.

I'm curious who the author of the book is, his knowledge in the crypto field is very poor. The explanation of FTX's collapse without any positive reciprocity is increasingly giving crypto a bad impression. The amount of progress achieved by the crypto industry, especially Bitcoin, in a very short time, strengthens the perspective that Bitcoin remains a great entry point for institutional investors in the field of crypto investment. The future of Bitcoin is still very bright, I firmly believe that after taking a deeper look at Bitcoin's core value proposition, its fundamentals and recent developments around its network will make the case for investing in Bitcoin stronger than ever.

What you say is very correct, of course we don't need to read books whose authors don't have clear reference sources because this will make it difficult for us to invest in Bitcoin and if we choose to read a book we have to first find out the background of the author, whether it is true. Whether an author has clear references or not, some people who make videos sometimes just take advantage for themselves and don't care whether what they say is in accordance with existing reality or not.

When someone finds out that the book they are reading contains wrong understanding, of course they will never read the book again and will look for a book that has an explanation and a clear reference source.

Many people still turn a blind eye to the development of Bitcoin at the moment. They still think that Bitcoin is just another Ponzi scheme and that it will shut down quickly if no one else buys it. Furthermore, they spread false news about Bitcoin which says that it will die, is having problems, and many other negative things. Despite the fact that Bitcoin is still developing today and its adoption will continue to increase even when many people are skeptical about it. Whatever negative things they say about Bitcoin, it will not make Bitcoin collapse, even more so it will continue to grow and get stronger.

Not just clear lines about Bitcoin, cryptocurrencies and cryptos but, they need to do their research to understand well enough that there are nominations, aspects to the functionality of every development.
How are they getting to bring an aspect (FTX), an exchange to represent a whole and they talk about it as such! An exchange that even when cut off, it could do nothing to the whole system but rather teach a lesson on how irrelevant or how Bitcoin or the cryptocurrency idea was first and foremost supposedly a p2p currency.

I guess the writer actually did bait the public with that as, some ignorant nerd who would rather see Bitcoin fail and have a good laugh would be eager to get in on the story rather than read a much more better written book on cryptography.

There are still a lot of people who spread bad information or false information about bitcoin and its effect on anyone. Also,  about bitcoin being subject to crimes or because the transaction of bitcoin being hidden, they are stating that bitcoin or crypto currency can be used for illegal activities, which is yes, happening, but let's not blame bitcoin; we should blame the people who're using it for their intentions.
But even if there are a lot of people doing this, there are more people who think bitcoin is a blessing and a great help to anyone, and that's true. Over the years, many more investors are being added because they see the potential in bitcoin and its long-term plans or future things that it may be used for. Bitcoin technology, which is blockchain technology, still has a lot of potential; it can be used in many things, so bitcoin is powerful even if they try to take it down. They can't because they don't have the capability to do so.

I agree with you. Disappointingly, an author would produce a book without fully understanding Bitcoin. Authors owe readers well-researched, factual information. Failure to do so misleads readers and damages the author's reputation.

Could it not provide some useful insights, especially for novices, despite its flaws? Often, one source cannot cover a complex topic like Bitcoin. Cross-referencing multiple sources - including opposing views - is essential. Community forums are great for knowledge exchange and correcting misconceptions. As Bitcoiners, we may direct novices to better sources.

Educating the author is proactive! Why not give helpful feedback? Like everyone else, authors make errors and learn from them. We can correct misconceptions and build a Bitcoin community that values accuracy and depth by talking. This is about shaping an informed and responsible Bitcoin discourse, not one book or author.

they are carried away by the content of influencers whose every content shows off luxury trading products but never discusses how bitcoin continues to develop or the fundamentals of bitcoin itself. Therefore, when beginners join here and don't get the same results as the influencers they join, they will leave Bitcoin without getting the true potential of Bitcoin.

I wonder why the author published something he's not fully knowledgeable or saying something that could mislead readers with what he wrote on that book. Maybe it's more of an opinionated book about the collapse of FTX and the market at that time but if you're going to write something, especially publish something, he should be also aware that it's not equal to the fall of crypto in general. Also, writing a whole book comes with a lot of research regarding that certain topic for fact checking. Now it made me think, what if someone who's curious about Bitcoin and crypto happens to see that book and they might get the wrong idea/info because of it... I'm curious as well about the book and the background of the author regarding crypto.

The people that are not aware of Bitcoin in my area is not many again and the only thing they don't want is that they don't like to invest in it but they know that Bitcoin does exist. Many people even that Bitcoin is digital currency which can be invested in it and they don't have money to invest in it. The author of the book didn't make comprehensive research before publishing the book if not he would have known that good number of the masses understand Bitcoin.

That is why it is not all the authors and cryptocurrency influencers are needed to follow.

You can't expect every individual on the side of anything that is new to society and for the record still we have people who call it a flat earth even in developed countries.

Bitcoin is literally new and it may take a century or at least 30 to 40 years for people to understand it completely because it is proposed as an alternative for something that has existed over centuries and you can't expect them to change everything in just 15 years.

Yeah people are crazy jumping in that time specially in the fourth quarter of the year 2017. I knew most of us gain profit that time and some other don't since newbies are hesitant to take part the trend or was too late in that bull run. That bull run is the time when people started being curious about Bitcoin and crypto and then NFT games came after that.

The price impact of FTX only lasted a couple months sure, but to the general public that was Bitcoin and crypto collapsing. There was huge media attention around FTX and all of it bad. Most people don't hear that much about Bitcoin very often, but in the Fall of 2022 and again during 2023 while SBF's trial was going on the average person was hearing about Bitcoin and what they were hearing was that a major part of it had collapsed due to corruption.

This thread is talking about the general public's perception of Bitcoin, not the Bitcoin market itself which of course will always rebound from any bad thing. Heck, at end of last year my mom was very concerned for me because she read an article about the FTX collapse and I was like its fine its just one exchange and the Bitcoin market is bottoming but from what she had read she tried to convince me that this time was different and Bitcoin was collapsing. I laughed and told her it was fine, but this was the effect on the general public who don't know much about Bitcoin. Every market cycle the average person thinks that Bitcoin was a bubble and it's too late to get into it now and now its on its way down to zero. And FTX made a lot more people think that since 14 months ago.

I would guess there are a lot of people who don't even know Bitcoin has recovered and is 3x the price it was after the FTX collapse, because they just assume Bitcoin is still collapsing after FTX. Or if they have heard the price went up some they just assume its a bubble that will pop on Bitcoin's way down to zero. That's the perception of the general public.


Anyway, yeah by crypto becoming mainstream in 2017 I mean that's when most people heard about it. Of course it isn't actually mainstream because hardly anyone has Bitcoin. But I mean it entered the mainstream consciousness in 2017. It went from something hardly anyone had heard of, to suddenly most people having heard of it (and thinking it was some get rich quick scheme), to 2018 when the bear market came most of those people thinking it was some bubble that popped and isn't a legit thing to put your money into cuz it was just a bubble.

But then as we both agree, Bitcoin had made these people who think that Bitcoin bubble had popped wrong.  After some years, Bitcoin is able to recover its market and eventually make another All Time High on 2021.

About the title of the book you stated, I think the author wanted to create a title that will get  the attention of the readers, it is more on sales of the book than the actual situation of the cryptocurrency market.  I also think that the author does not dig deep enough and just put his focus on the FTX issue which in fact does not represent the whole of cryptocurrency.  I feel bad for the author because of his intention of making an eye catching book title, he end up with a title that will be laugh by the generations to come.

People read books to broaden their horizons so that they know more about the contents, but if the author cannot present accurate information, how can we possibly make comparisons about the writing that has been written? It is important to first look at the author's background because if you follow it incorrectly it will give a misleading understanding and even if the intention is to read then there must be a filter to filter the information contained in the book.

Now there are many videos and book made that are not about the content but rather trying to narrate something and they try to make a profit with these videos. Therefore, we have to be smart in choosing the reading and video we watch because if it is wrong it will give a wrong understanding.

If they earn money out of it they will not care at all, now in all honesty I would have no problem with an author that went as deep as possible to try to figure out how the FTX fiasco came to happen, and I would be interested in reading it.

However it is clear that such an event is going to be used to try to discredit this market and the idea of bitcoin to as many people as possible, and while they may succeed for a time, bitcoin is once again showing signs that it is ready to shock the world once again, making FUD like this completely ineffective.

FUD against bitcoin is something that we will never be able to get rid of, just like the author of the book wrote, he didn't do in-depth research on what he was writing, he only made a book with one episode, he should have made a book with episodes lol. Many people discuss Bitcoin, in the future we will definitely keep experience declines and increases in Bitcoin price, this is a very normal thing to happen to Bitcoin because Bitcoin is very volatile.
if we go back a few years then we will see that the FUD against bitcoin is really serious, the news about bitcoin is a bubble also continues to spread but today, bitcoin continues to prove that this will not happen, bitcoin adoption will continue to grow and its price will automatically increase.

Not everyone is aware of bitcoin's potential and not everyone is interested in bitcoin. Maybe those are the right words for this situation. Because after all, it will definitely be difficult to convince someone about bitcoin, if that person is not really seriously interested in bitcoin.

Maybe leaving such people behind is the right thing to do and let them realize the potential of bitcoin itself. Because people like that are people who like to judge without experiencing it first. So let them realize it themselves and experience it for themselves. So that they are confident and don't feel doubts about bitcoin.

Almost every person applies FUD to anything, and it is normal for that to exist cause Bitcoin is volatile and has pros and cons, you wouldn't always experience the good side for sure. And some FUDs are not always a negative thing for Bitcoin's adoption as they gain attention from the public, some wouldn't even waste their time thinking about it cause the bad thing has already sunk into their heads, but they are still people would be interested, and do their own research and would find out that Bitcoin is a cryptocurrency that you can invest conveniently with and profit.

I always say that reading a book without a critical lens is likely miss the point. Checking an author's credentials? An absolute must.  Who hasn't gone down a YouTube rabbit hole and questioned their life choices hours later? Information seekers should proudly display their skepticism. Ask inquiries, get sources, and never trust anything.

We've got to be smart about what we consume, just like we're careful about what we eat (well, most of the time). Misinformation is brain junk food - easy to consume but unhealthy.

Those people are not missing on bitcoin, it's you who are missing on those people, and by that I mean that you think that everybody is interested in becoming wealthier, smarter, curious, and the reality is that the majority of people don't care about that. You can spend (or waste) all the time you want explaining why bitcoin is unique and yet these people will rather spend their money to buy another fancy bag or another pair of shoes rather than invest that money. And if they even have the guts to tell you that bitcoin is a bubble then just stop talking to them about bitcoin, why wasting your precious time?

What surprises me most is to see the enthusiasm of many 'bitcoiners' for the arrival of heavyweights like Blackrock, when they should be less impressionable and consolidate the community even more. Bitcoin will keep growing alright, but it needs the community, and from now on even more than ever.

I can understand your point of view, which it totally makes sense, but you also need to understand that for some people this could be a once in a lifetime possibility to sell their bitcoins and make a ton of money, probably so much money that the next 3 generations shouldn't even work. Anyway this is a very limited number of people, the average bitcoiner will have to hold for a long time before being able to actually change his life.

I think I can understand that correctly too - so yes, this is an opportunity that should not be missed by anyone who is aware that this technology is developing in a positive direction. Earning as much money as they want is a bonus - meanwhile, governments will likely gradually accept bitcoin as a means of payment that benefits everyone including state revenues.

The crypto industry will continue to grow and more and more large companies will consider these assets as investment assets or means of payment. Increasing adoption and increasing business networks will make this industry even bigger - but of course not everyone realizes it because some of them still find it difficult to accept the development of this industry.

The Cryptocurrency industry is one that's growing very rapidly, especially Bitcoin, we've seen over the years how it moved from it's intinial price of 0.001 since late 2009 when it was introduced to a current price of about 40k plus, that is enough to convince a lot of individuals, companies and various industries to invest in it over the years, and I believe in years to come it would surge to a greater all time high and even keep increasing after that.
 Well based on the fact that Bitcoin is volatile which makes it reduce  in price sometimes, it has caused alot of individuals and industries to doubt it's potentials though some individuals are not participating in Bitcoin investment due to several restrictions and bans by their various countries. However sooner or later, some countries would be forced to uplift the ban, which in return would attract more individuals, companies and industries to participate in Bitcoin investment, Bitcoin is here to stay.

Exactly right, the crypto industry will continue to grow. Currently also many companies are implementing crypto as their payment, and of course in the future it will continue to do so for their ease in doing business. On the other side, when the price collapse will be the most awaited moment to add assets, vice versa when the price reaches new ATH it is the momentum for us to get big profits. Especially bitcoin, as the only valuable asset, I think will still main the target of business people.

That's why a person must have a broad view when reading several books that are available and perhaps reading material is not a problem as long as they don't use it as a reference source. Technological developments in the field of digitalization cannot limit anyone from writing in the form of books or opinions, but insight is needed to assess the level of truth because otherwise people who read will be increasingly misled. Looking for accurate information also requires research and it is impossible to swallow the source completely without reviewing it again.

Difficulty receiving information due to lack of reading material so it is easy to get caught up in books that are affiliated with untruths. Just like we search for videos on YouTube and how many videos we are looking for will come up, but the extent to which the video is correct depends on a person's level of knowledge when reviewing it.

Why would it surprise you that bitcoiners like to see bitcoin grow and start becoming an investment for the major players in TradFi? Why would you want to consolidate and shrink bitcoin adoption? Spreading bitcoin is a good thing, no matter if its to a poor person or a wealthy person or a investment firm or a government.

I'm always amazed when some bitcoiners on here say they actually don't like it when Bitcoin spreads to certain kinda of people or organizations, like they want to gatekeep who is allowed to own bitcoin. That goes against the very idea of bitcoin being an open currency for anyone in the the world.