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Hopefully I'm not alone in this thought but what is the end game? The way I see it is that these last few years of price movement is just price speculation. Complete idiots are putting money in this machine and expecting a profit. Too many people don't know anything about how BTC even works.
I just don't get it. Am I just maturing in my opinions of this industry? What is the end game here?
I know what I did, bought low and sold high and moved along. My profits are measured in my local currency, I don't see how BTC will ever fill that void to be universal.
Do we just wait patiently, buy the dip over the next year or so, and sell our bags to the next wave of dreamers? I miss the days when BTC was just this interesting internet money that was on the darknet.
Thanks for reading, would love to hear if anyone else has these thoughts on a daily basis.
The end game was stated by satoshi, bitcoin is to become a currency and it can be used this way right now, however its main use at the moment is as an speculative asset and I can understand why you are frustrated about this, after all when bitcoin was used on those dark markets its main use at that moment was as a currency and not as a trading asset, so I can understand why you are disappointed with the current reality of bitcoin, but eventually we are going to reach the point in which you can use your bitcoin to buy whatever you want no matter where you are but it will take some time. I'm not sure I will want a world where Bitcoin is the SOLE method of currency. As an option, I can get with that. I tend to believe that (random number) 50% of value exchanges are done with people who we can't trust to be scammed or to accidentally send a non-reversible transaction. Thats what scares me. One can hope that the new generation can have a higher average IQ to trust with this power. |
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Forgive my ignorance, but is it out of the realm to consider they already own mass amounts of BTC personally?
AFAIK, they don't. This is a surprising news to me and to know that they hold bitcoin. I guess those wise folks will consider their move as a model and they will follow also buying as the wealthiest family have bought already. Now those people who follow much news about bitcoin, who are they going to follow, Elon or Rothschilds?  Well respectfully, how the f* would any of us know if they hold BTC. If they hold personally, I would assume there would be no way for us to ever know. |
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I think this is a point I completely glossed over. Like the TOR network and other "deep web" networks, there are groups of people in this world who have THRIVED having access to a decentralized internet currency. This is crucial for these people who may not enjoy the benefits of western civilization or a cruel regime. The amount of people I have met internationally through slack/discord crypto communities was extremely enlightening. However, hearing El Salvador introduce Bitcoin just feels wrong. I hope it improves the quality of life for those citizens.
This most recent bull run I did not deal much in btc txs. I tried to stay with lighter tx fees when moving funds (ltc,bch) if I was selling to USD. In 2017/2018, I do remember sky high fees & time. It is my understanding that BTC will always have a scalability problem. A quick google search shows me 4.6 txs per second or so, with visa doing about 1700 per second. Assuming that small countries will begin to onload their people to bitcoin would this not make dealing with BTC completely inefficient (pending any forks that can help this problem). I will provide a disclosure that this knowledge could be dated by a year or so. I will opt to do some more research into this issue.
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Do we just wait patiently, buy the dip over the next year or so, and sell our bags to the next wave of dreamers? I miss the days when BTC was just this interesting internet money that was on the darknet.
That's your choice, you can buy and hold or you can actively participate in the market by just buying and selling. This is the cycle of pump and dump and currently we are on the dump trend so technically, buying at a cheaper price is always a good idea and you'll sell it later on once you already happy with your profit. This is not an end game, and if you already here for years then better to look at the price history of the market because it always like this. Many says the market will die eventually, but for me that's is FUD because until now we are still making a big difference and makes the financial system much better. Inherently, the market wouldn't die unless the underlying cryptographic "proofs" were no longer secure... I think. Or as others have said, legislation from the countries of the world. I find using 10 years of data (realistically its 4-5 years of real life use casa data) is extremely short minded and there simply has not enough time to call it the future. I do not have anti-crypto ideals, I just am disappointed of the state of something I held near and dear to me. I am afraid the average IQ of a crypto user will be too low for anything other than a digital gold. |
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Bitcoin's market is still fairly young and this argument could benefit us in the long run.
Just look at the early adopters, now they are reaping their rewards for buying low with literally hundreds of BTC and hold for the next 10 years. End game? we are still far from it, and as we saw it despite it's still being new, the market is in a cycle, bearish/bullish and this is how we should look at it. We could learn that it's better to buy more when the price is cheap because we are in a bear market and then sold off some in a bullish market.
But whats the end? If BTC is not the universal currency there will always be people selling for the more local or dominant currency. I just don't think this can work like this. I have always considered Bitcoin as computational digital gold. Not meant to a primary means of value exchange. |
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Hopefully I'm not alone in this thought but what is the end game?
You're prolly not alone, but I'm afraid, the majority of people who share the same thought as yourself are either trying to spread unnecessary FUD, or do not understand how the network works and it's original purpose. I know what I did, bought low and sold high and moved along. My profits are measured in my local currency, I don't see how BTC will ever fill that void to be universal.
However you choose to use the network, spend or accumulate coins is your sole decision, but mind you that Bitcoin is definitely going mainstream, do not be confused, that's not to say that there'll come a time that Bitcoin will be the only currency used, Bitcoin is definitely going to be universal cause sooner or later, with all the dictatorial policies governments keep implementing, people wouldn't be able to resist the freedom and control of funds Bitcoin offers it's users, this will make more and more people to use it and hence mainstream adoption. Do we just wait patiently, buy the dip over the next year or so, and sell our bags to the next wave of dreamers?
Like I already said, you can buy and spend the way you deem fit, but I am pretty sure that people who believe in the network aren't 'dreamers', it's (Bitcoin) actually a currency that can change the financial system for good. Well come on, you got to realize any immature new money are these "dreamers" who read headlines about massive gains on micro-caps or a friend who mad $6k on doge. Sure, there is also new money that may be smart and waited out for the market to mature a bit more. I think we both know what this rally was really supported on. |
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Tldr: just invest if you like the technology. There's too much talk on smart money and dumb money - a lot of "smart money" is just big money that can inflate itself.
The market thrives from sensationalisation. Do you think people ever know what they're investing in? The stock markets have high profile companies worth a lot less than they should be (0.5-5x annual profits).
The network is odd and so it how company accounts are filed. Companies are generally assessed on their profitibility at the time and any short strategic statements they give, no one cares about their assets or about their market share unless they point it out...
I'm pretty sure investors, accountants and other people have the worst job satisfaction too - that's probably a strong reason for it.
I realized I was talking about any investment product when I typed this. I got to try to think less sensationally- I tend to overthink. |
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My view is that Bitcoin will slowly continue to gain adoption, but will remain an obscure payment method used as a last resort for people who can't use traditional payment methods for some reasons. Lightning Network's official release would provide a boost to adoption, but it won't turn Bitcoin into a widely adopted global currency, because it also has limitiations, and because it doesn't fix other Bitcoin problems like price volatility.
Just because Bitcoin is not used by everyone and maybe never will, you don't have to be pessimistic and say that Bitcoin is useless. Bitcoin has its own niche, and IMO that already is a success.
Well yeah. I was once positive. Most of the time I'm neutral or negative. I am sort of the outlet for crypto in my circles. Just have had so many people ask me about doge in the past few months. Maybe I'm just disappointed. You're right. It does have a niche. Maybe when media cools down more I can re-open my brain. |
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To be honest, they are money producing machines and you shouldn't necessarily be copying what they are doing. They get paid profits from companies all year long and when you are that rich you can afford to lose millions because you are still making hundreds of millions every year from a wide range of sources. Wealth creates wealth on a grand scale, yes they will ultimately push up the price but they are actually detrimental to the ultimate purpose of Bitcoin because they can afford to sit on their wallets for years while taking vast amounts of this limited currency out of circulation. They may even have ulterior motives that us poorer folk cannot comprehend and it might be damaging in the long run to hold certain things that they hold. This is what I was thinking. Some see them being interested, I see other motives.. What a shame |
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Forgive my ignorance, but is it out of the realm to consider they already own mass amounts of BTC personally?
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Hopefully I'm not alone in this thought but what is the end game? The way I see it is that these last few years of price movement is just price speculation. Complete idiots are putting money in this machine and expecting a profit. Too many people don't know anything about how BTC even works.
I just don't get it. Am I just maturing in my opinions of this industry? What is the end game here?
I know what I did, bought low and sold high and moved along. My profits are measured in my local currency, I don't see how BTC will ever fill that void to be universal.
Do we just wait patiently, buy the dip over the next year or so, and sell our bags to the next wave of dreamers? I miss the days when BTC was just this interesting internet money that was on the darknet.
Thanks for reading, would love to hear if anyone else has these thoughts on a daily basis.
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Do you think we really need privacy coins for everyday tasks?
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I think Poland Spring is the best water.
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Does anyone know more about FirstBlood? I have some coins but I wanted to know if anyone has used their platform before or anything like that...
Let me know!
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Hey all, just an update! I added a few more exchanges( gonna add their RUB & CNY counterparts soon once I can smooth something out). But, I also started a new bitcoin forum. I'm not sure if Its unethical to tell people I made a new forum, but I'm just trying to show people what we can grow. If your interested you can find the site and the forums here: https://btcflux.com/forumThanks for the positive support |
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Hi all, I'm back from the dead. I got around to posting another section the website. I only have 3-6 websites per category but I wanted to poll the community for websites you guys find useful, that maybe dont have a huge spotlight. I am still planning to advance my website, but I wanted to take another small step so, let me know what you think! Thanks for the support!
*If you want a currency added, let me know.
Would be nice to just all the fiat currencies and altcoins.(eth,doge,ltc,xmr)  btw i like your conversion site, gonna bookmark it! Altcoins and more fiat is certainly on the way. I pretty much started with top 15-20 currencies around the world and took user requests for specific. After I had it 'stable', I looked to broaden the horizons a little bit, but I will be certainly upgrading that aspect soon. Thanks so much for bookmark, makes the work feel supported  |
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Hi All, this is my first post here on the forums and I read the policy stickied to the top, So I hope I'm not breaking any rules. I recently started a freelance career and I didn't have to many portfolio pieces so, I decided to make a website but I had nothing to make. So then I decided to make a bitcoin converter site. I wanted to spread it around Reddit and here so maybe I could get some good ideas, or constructive criticism on it. I plan to add more currencies within the coming days, but I wanted to get it's name out there first. Let me know what you think! BTCFlux: http://btcflux.comOk look at the subject of your question again and let me suggest a name for you. Pick the first three letters of each separate word and put all three together in a he same order and I think you'll form "Bitconweb" . Hope this helps. Lol, I'm a little confused on what you're trying to communicate. Hi all, I'm back from the dead. I got around to posting another section the website. I only have 3-6 websites per category but I wanted to poll the community for websites you guys find useful, that maybe dont have a huge spotlight. I am still planning to advance my website, but I wanted to take another small step so, let me know what you think! Thanks for the support!
*If you want a currency added, let me know.
Since you added php in the conversion of bitcoins I would suggest if you can include Pesobit (PSB) in your website. Though this coin is not famous but its the first coin made in the Philippines and by adding it you can help us promote it to other users. That way we can increase the users of the coin and also increase its value. I am not the developer but as a resident of the Philippines I made this suggestion to promote products coming from our country. I will eventually implement other sort of coins, and I'll put this one on the list. Thanks! |
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Hi all, I'm back from the dead. I got around to posting another section the website. I only have 3-6 websites per category but I wanted to poll the community for websites you guys find useful, that maybe dont have a huge spotlight. I am still planning to advance my website, but I wanted to take another small step so, let me know what you think! Thanks for the support!
*If you want a currency added, let me know.
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I would want to see two separate price conversions, one with a average bitcoin price, calculated from say 3 Chinese exchanges and then a separate one for 3 western exchanges. The reason for this is simple, because everyone wants to see where the price fluctuations are coming from.
I use Preev.com currently, but then I have to change sources or visit Chinese exchanges to see what the price is there to make a direct comparison. ^hmmmm^
So you would like to see western vs chinese markets? Yes, because all talk is about the influence of both these markets on the price. We want to see, with the least amount of effort, who is influencing the Bitcoin price at any given time. This will also be handy for the people doing arbitrage between these two markets. ^smile^ You could possibly show the average price from 3 exchanges in each of these markets to give us a better idea of what is happening in those markets. I'll definetly keep that in mind for the future Hi All, this is my first post here on the forums and I read the policy stickied to the top, So I hope I'm not breaking any rules. I recently started a freelance career and I didn't have to many portfolio pieces so, I decided to make a website but I had nothing to make. So then I decided to make a bitcoin converter site. I wanted to spread it around Reddit and here so maybe I could get some good ideas, or constructive criticism on it. I plan to add more currencies within the coming days, but I wanted to get it's name out there first. Let me know what you think! BTCFlux: http://btcflux.comI am not good in doing websites nor can give you suggestions as how you will improve your site. But there is one thing I like about your site its because in your converter you included Philippine peso. It is really helpful that with just one click I have already get the equivalent of one bitcoin to peso. I will be sharing this link and at the same time use it. Thanks for sharing this. Thanks for the support! If you have any additional requests just run them by me I check here very often! |
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