Mind explaining how exactly we can make Bitcoin more accessible to the people you're referring to? It's not that there is much that we can do other than just helping those around us by providing them useful information.

I am of believe that people who really want to know more about Bitcoin's fundamentals will look up everything themselves. They also do it when it comes to its speculative side, so it's not that they don't know where to go.

If people are too caught up in getting rich with crypto currencies there isn't much that we can do. Everything you advise them to do or not to do will be disregarded because they simply are here for profits only.

Bear markets are similar in every industry, the only difference is that we in crypto cycle through bull and bear phases in a much faster pace. Current stock market bull run is going on for like 8-9 years.

If the stock market is going to correct, which it definitely will at some point, we'll likely see it go through a 5 year long bear market. By that time there won't be any good news that will do any good to the price.

Once the bullish momentum is no longer there nothing will be able to lift the market up, and the same applies to crypto. I know people here don't have much patience, but there is nothing else to do right now.

It seems that everyone is stressing out and desperately hope for an ETF to pass in order to lift the market up, but it's not going to happen. People shouldn't fool themselves that good news is important now. It's not.

Are you sure you're not mixing things up? In most cases people refrain from trading during hostile short term market conditions, from where they solely focus on the longer term since that's the only thing they actually have.

I have seen how even the more senior traders here have taken a safe distance from trading because it's starting to look like gambling rather than trading, especially when you take the manipulation in consideration.

BitMEX has been a real obstacle for this market with how easy whales can benefit from even the smallest movements due to high leverage counts. We're basically watching them play with the market at our cost.

It's not that uncommon for services to use the buzzwords miner or mining while they don't actually mine at all.

Lately it has become a hype for exchanges to allow people to fee-mine tokens by generating as much trading (fee) volume as possible. The more fees your trading volume generate, the more exchange tokens you'll get.

In this specific case miner stands for letting a bot generate profits without actually doing anything (passive income), but we all know that there isn't such a thing as guaranteed profits with trading. Obvious scam.

It's a psychological matter in the end. If people keep buying stuff without realizing that fees in most cases are priced in, they will not bother to care about anything else. It's with everything requiring use of central parties.

When I use my NFC enabled debit card to near instantly pay for stuff, the fees are on the store's end but are again calculated in the items I'm buying. In other words, I'm still paying for the fees.

I did some research about the payment gateway local brick and mortar stores use, and there is a 2% fee for every debit card transaction. If people use the Visa or MasterCard option it could go up to even 4% which is insane.

Based on that I assume that every item is 4% overpriced just to cover the fees. If I use a payment option only costing stores 2% in fees it means they are gaining on me.

Correct. The only thing we can somewhat blame them for is that they unnecessarily extend their decision deadlines, while it's near 100% certain already that postponing ETF deadlines means that it's not going to happen.

Maybe it's time for everyone trying to have an ETF listed to just admit that they won't succeed with how clear the SEC has been when it comes to all the rejected ETFs. It's an utter waste of time and money.

It seems that the small number of realistic people here have more sense in them than all those desperate corporate entities trying to bank on a potential approval. Only fools don't know when to stop trying.

That directly exposes the fragility of this system. If you want everything to thrive on debt, which has been the case for many decades, you basically take for granted that once every 10 to 20 years massive debt bubbles pop.

I can access €5000 in credit without any problems right now, and that while I never signed up for anything that would grant me access to credit. It's there solely to tease me to use it. It's a nasty practice.

It has never been easier to cover yourself in debt in today's world, and that while after the previous credit crisis everything was meant to be taken care of when it comes to how easy it is to access credit. It has only become worse.

It's a combination of tech and returns, but eventually the returns will no longer be there, regardless of how good Bitcoin's tech is. Bitcoin will grow so large, that it will most likely follow gold's path to become a slow moving asset.

At that point Bitcoin's currency aspect will finally be allowed to function as what it was intended to function as. The volatility is the main obstacle it has to overcome and once that is done, Bitcoin is literally the best form of money.

I however think we're still like 10 years away from seeing that scenario become reality. It won't be easy to shake off all the get rich quick speculators with how crypto is becoming more popular amongst them by the month.

I'm not sure what country you're from, but I personally never have to actually submit any proof of gains and trades. I just fill in what profits I have made and that's really it.

If you can declare your profits and trades in a similar way then do that, or if you're afraid of potential consequences you can always contact your tax agent before doing anything, which I think is the best option.

People here can only throw around with advice while it's your tax agent who knows what you should be doing. I have done plenty of trading on altcoin exchanges as well, but never bothered to pay tax.

That would be an ideal outcome, especially with how low the fees currently are in what a lot people consider to be a boring market. Without hype fees remain low and that should give people the incentive to transact more.

On the other hand, it seems that everything related to crypto currencies has become a whole lot less interesting for people with how bad the sentiment is. People are more likely to spend coins after a significant increase.

The only usage boost due to low transaction fees with current sentiment, are transactions directly from peer to peer. There was an article not that long ago stating that merchant payments have decreased significantly.

Without some solid bullish action merchant payments will decrease even more.

We can't keep testing the $6000 mark endlessly. It will break by the next one or two attempts, especially if the decline is fueled by yet another couple of ETF rejections which people seem to go nuts on.

My thought is that the 'ultimate' bottom is somewhere around the $4000 mark. It will reset the market back to where Japan was positively stimulating a healthy uptrend, but still before the futures announcements.

And people relax, I'm not saying it will actually go down to $4000. It's just a thought that's floating around in my mind in case we do actually break the $5700 mark. It doesn't even sound unrealistic.

It doesn't work, but makes a good story. I think it's safe to say that most people don't even want one currency that does everything, because there always needs to be some form of exclusion of weaker countries and continents.

People need to have the freedom to choose from a wide variety of currencies, which is also why there isn't just Bitcoin. From there everyone should be happy that one single global currency won't ever happen.

In a way crypto currencies can already be seen as world currencies, because regardless of where you are in the world, you can always spend your coins to anyone accepting them. This is the closest we have ever come to a world currency.

It definitely applies to all people calling themselves traders, but not so much (at least in my opinion) to people investing in Bitcoin for the very long term, because as long as you don't sell your coins you won't lose anything.

Losses on paper are part of every form of investment and should always be disregarded. In the same way profits on paper doesn't mean you actually made any profit, because you only profit when you sell your coins at a higher price.

You got the trading part right, but maybe it's a good idea to include in OP that you as investor only lose when you sell at a lower price, because trading and longer term investing is not exactly the same.

I'm not underestimating Bitcoin, I'm just realistic.

Regardless of Bitcoin being instant and free to use somewhere in the future, the volatility is something that will always form an obstacle to how Bitcoin is being used as day to day currency. It's just not viable.

That doesn't imply that I think it can't be a great internet currency, because I think it's actually a fantastic internet currency, but not so much for local use if you're in a well developed country already.

It's like gambling actually. People initially bet small amounts and keep winning more bets than losing, then go big and bust themselves. What's next is that people blame the house for being rigged and so on.

Crypto has been like people investing small amounts on the way up, which has been profitable on the way up, then went big with their savings or loans and busted themselves by having bought at peak levels.

What do these crypto people blame? Yep, Bitcoin and manipulation. It's horrible for people to go through and wish they were a bit smarter, but they only learn by sucking on their losses on the way down.

It's too obvious to be sponsored in my opinion. I really think it's more an uneducated attempt to point out what the 'problem' is and how they think it can be tackled, which they failed miserably in.

Some people really believe that crypto currencies are that what its name hints at, and for that reason directly point out that it can't be or isn't a currency at all. And even if so, it's a very bad currency compared to fiat currencies.

The far majority of the people don't care about the currency aspect of Bitcoin, and neither do I to a lower degree. It's the store of value aspect that I and a lot other people add the most value to.

If I want to pay for my coffee or burgers I'll just keep using fiat. Nothing beats fiat in that regard.

Unfortunately, people don't seem to care at all considering that they have been warned not to jump into cloud mining years ago already. The constant supply of new noobs just makes it impossible to see any improvement.

It however makes me wonder if we can take a different approach to combat the popularity of cloud mining. Most newbies invest in cloud mining due to the shills on YouTube praising how profitable and easy it is.

What if we start pooling our efforts together and report videos where YouTubers are over-shilling cloud mining services? I have done so already where it was obvious that it concerned either a referral or paid shill.

The more reports come through the more likely it is that YouTube will step in, or at least I hope they will do.

People take everything far too seriously. It's just something that's theoretically possible. If you want, you can shape charts in such a way that they return crazy high figures, and that's exactly what happened here.

It's also theoretically possible that the price reaches $100 million per Bitcoin at some point in the future. The question that you should always ask yourself is whether or not it's likely. In this case, is it likely? Definitely not.

Bitcoin is a great instrument in more ways than one, but has not much other than speculation to fuel it for now, and I honestly don't know how long it will take before we see a significant change in that regard. 

Everything that's emerging in some way is a dangerous short. I remember how Tesla was subject to the same trickery in an attempt to manipulate the sentiment, but none of them have actually done so.

Bill Gates not knowing how to short Bitcoin was one of the funniest things I have heard at that point. He knows how to short or long his own stock but doesn't know how to short an asset as Bitcoin through CME? What a joke.

It was all in the news and probably the main reason the price went up to nearly $20,000 last year. If he shorted Bitcoin at peak levels I would at least have given him some credits for that.

It has been alarming for decades, not just in the last years. The problem with people is that they keep waiting for things to get better, but the direct result of this is that things only get worse because waiting leads to nothing.

It's time for people to accept the fact that they have to step up themselves and start looking for an alternative way to better their life. The government won't do anything for you because this is how they want it to be.

Bitcoin is the revolution that people keep discarding with how ignorant and greed filled they are. It has been and likely still is the only way for the average person to build up an insane amount of wealth throughout the years.

The only thing you have to do is hodl.