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People are afraid to put their money into bitcoin because they think it's a bubble that can burst at any moment. The problem is people who don't trust new technologies. 10 more years will pass and the percentage of people who still don't know about bitcoin will be just as large.
I see only the only solution to this problem is to educate people about the topic of bitcoin, explain to them how this technology works and why it's so important.
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Biggest Bitcoin problems in my opinion: - Too complicated for masses - No 100% reliable back-up protection if private keys are lost or stolen - No charge-back option (this is both pro and con) - Not enough big merchants https://temporaryerror.com/the-problems-of-bitcoin/I agree with you. But I'm sure that these problems will be solved soon, except for one. The biggest problem is that a lot of people simply don't know about cryptocurrency or they don't understand how it works. And there's also a type who refuses to invest their money in any crypto-exchange because they're afraid of losing money. To be honest, I don't think this problem will be solved in the coming years because old school people are used to living the way they live now and don't want to learn any new things. What are your ideas on how to solve this problem? Talk more about cryptocurrency Explain its meaning Explain how it works Show the pros and cons Explain that crypto is our future and why it's so important to invest in it right now My uncle is 57 years old. He works in a small company. For some time he didn't want to hear about bitcoin at all. Whenever we saw each other, we had arguments about the fact that cryptocurrency is another way of spying on people, that people, who invest in bitcoin, are fools, and that they'll regret when all their money is burned out. Then I told him to read about this technology more and not the news public and some weird bloggers. I advised him to read some good books and documentaries about this system. And the next time we saw him, he completely changed his mind. Now he tells me about his successes, how he started making good money. I'm very happy for him. Every time he thanks me for the fact that I clearly explained to him why it's worth investing in crypto. So this circuit really works! |
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Regarding the recent update of pornhub. That demands users not to re-upload porn and left some users and investors checking which side of the adult sites will be profitable. VISA and Mastercard stopped their contract with porn hub for reasons I don't know much about. But recently Pornhub integrated bitcoin as their payment method. https://ibb.co/fNCL98R and I ask it could be sooner or later until other porn sites or companies take steps like pornhub did. What do you think will happen to cryptocurrency? this can bring a bull run into the market? I think that soon not only porn sites will make it possible to pay with cryptocurrency. Soon, payment with cryptocurrency will be the most convenient. It'll be possible to pay with crypto even in a store. Bitcoin is becoming more popular every day, more and more people are investing in it. In the future, bitcoin technology will be quite developed |
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I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?
I am thinking around 20K.
Any guesses? If so, why (sentiment, support levels, etc)?
Thank you.
Happy 2021 and good luck to you all!
We'll never know when the bitcoin price starts to rise. We'll find out about it only from the news. In my opinion, bitcoin won't fall below 30k. I really hope that soon we'll be able to see its rise to record prices  |
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Seriously if you can’t sleep at night because Bitcoin fell 20% then you have too much of your assets allocated to it. Bitcoin is volatile. It will swing a lot in both directions. You need to be able to handle the volatility. If you can’t handle the volatility then don’t put so much of your money into it. If you only put 20% of your money in Bitcoin and the price falls 20%, then that’s only a 4% drop in your net worth. If Bitcoin is 50%, then that’s a 10% drop. If you cannot handle these swings then to need to lower your exposure. You should not be up at night wondering how much money you may gain or lose the next day and how it will affect your financial situation. This mostly goes for losing money though as no one seems to think they’re over overexposed when they’re making money.
Well said! You've explained the problem very well! Totally agree with you! Just look at the rise in bitcoin over time. There you can see that the price goes up and down constantly and it's OKAY! People just need to calm down and be more stress-resistant  |
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German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again." quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much. Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..
https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378This person is very irresponsible. I really don't understand how you could forget to write your private key and password...  It's such a fail! I think next time he'll remember that he needs to take his password and key seriously... Ahahaha well, he'll definitely remember to write down the password and key But guys, be more careful! I absolutely agree with Olivia about being cautious about your private key and password (and other personal data) because such a little thing might create a big problem!! |
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Yeah, sure, memes are an integral part of the content to grab attention. If you make posts on the same topic and with the same mood, then it won't attract the attention of people, especially young people. It's better to dilute with a small number of funny memes that will cheer up readers. They'll like posts, repost them and the activity will rise
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There are many people who still don't know about bitcoin or other cryptocurrencies. I don't know about others I am talking about my country and about my society. Whenever I ask from people about or talk about the Bitcoin. They ask what is this?
How much there is who face this problem?
Well, I think there are a lot of people who still don't know about Bitcoin. But what can we say about Bitcoin, if many still don't have the Internet. The problem is that people still don't trust the exchanges and trading. They're afraid of being deceived, collapsing, and hacker attacks. And of course, the problem is a mentality. Old school people don't want to try something new. |
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I think 2021 will be the year of cryptocurrencies. Only at the beginning of January, the price of Bitcoin has already crossed 40k and became an all-time high. Ethereum has risen to the price of 2018 and, according to forecasts, should increase even more. And it's only the beginning of the year!!
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Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?
It's totally normal that people are wary of the topic of investment. I show such people how bitcoin has grown over the past years. The price of bitcoin once fell but now we're seeing how much it has risen and that it's breaking records every day. I think you should explain to them that bitcoin is a good investment in the future. They can buy it and keep it until they're ready |
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At first, everyone thought bitcoin would hit 30k by the end of January. Then everyone started to say that the price of 40k will be at the end of January. Further, they said that 40k would be at the end of this week. Bitcoin hit its record price yesterday. I already like 2021! Well, now we're waiting for 50k.  |
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BTC Bitcoin just crossed $40,100 in today and fuw days bitcoin price moving $50,000 just buy and hold hold its big signal to bitcoin moon in this time just buy and hold bitcoin and hold long time and high return in your money , Bitcoin Big potential coin in crypto market its big and safe investment
Yeah, it's crazy I just wrote yesterday that bitcoin would reach 40k at the end of the week, but it happened today And I agree with you about buying and holding bitcoin. Now is the perfect time to do it, because in a couple of weeks its price may rise to 50k |
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In recent time we have seen bitcoin constantly increasing in price and at the moment bitcoin price is $32,390 which is a record breaking. I believe before the middle of next week we are going to see the new all time high of $40k, what is your take on this?
Yeah, I'm sure that this week we'll see a new Bitcoin price of 40k. It's a historical moment!! I expect that at the end of August the price of Bitcoin will rise to 100k. |
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Well, guys, Bitcoin is 37k now It's crazy!! iIt's highly likely that it will reach 40k at the end of the week. But I'm 100% sure that in this month it'll be under 50k! |
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Bitcoin BREAKS $20,000! It hit 20,436 in Binance! This is the moment we are all waiting for.... Do you think It will propel to 30k in the next year?  Well, now its 32k It took only 3 weeks to reach such a price... Quite an increase! Let's see what the 3 coming weeks will bring! I'm sure that Bitcoin has got something for us  |
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I think we can never predict this. It can happen spontaneously, at any moment  |
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Oh, I remember how everyone told me in December to sell bitcoin because it reached its highest price and it'll fall down hard further. I'm glad that I didn’t listen to them then and I bought bitcoin. Now it has reached 30k and this's just a crazy result! I'm sure that by the end of 2021 it'll reach 60k, maybe even 70k. What a great start to the year!  |
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Bitcoin BREAKS $20,000! It hit 20,436 in Binance! This is the moment we are all waiting for.... Do you think It will propel to 30k in the next year? Well, now its 32k It took only 3 weeks to reach such a price... |
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Happy New Year, everyone!!! Wish you all the best! |
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