Hi,

You are quite right when you say that many people buy only to sell. That's called trading and this is what has made bitcoin famous. That's logical to see this happen because many newbies come to bitcoin sure they can make huge profits in no time. Well... No.

And then about obsolescence.. Again, this is true. But here I disagree with you. I don't think we should give up bitcoin, I am convinced we should work on the technology and improve it. Because bitcoin will have the biggest community just because of its status of "first crypto ever". So instead of throwing it immediately, maybe we could improve it?

Hi,

That is interesting indeed... But it has nothing to do with bitcoin or crypto.

Blockchain has been developed for crypto needs but it is something in itself.

It is a tool aimed at "controlling itself". Here, in your article, the car manufacturer only says that it finds blockchain interesting and that it could be used for autonomous driving or locking the car from a smartphone. We are rather far from crypto...

Hi,

Nobody knows exactly the reason behind it.

There are several explanatory factors: announcement from countries (either good or bad for bitcoin), company statements, period of the year...
It is hard to see the proportional weight of each of these factors.

What we know is that the environment is complex and trying to foresee the future is.. quite impossibe!

Hi,

Yes, that seems obvious.

Put simply: when you trade, you bet through your money and you don't really care about what you buy. When you invest (supposedly), you believe in a specific project and your objective, rather than making profit, should be to help a company.

When you trade you don't have any relationship with company owners and you don't care about long-term strategy. When you invest, you may give advice to company owners and for sur, you care about where your investment go (should be on long-term strategic project).

Today, many shareholders are merely traders and that's why many companies stop thinking over the long term. Shareholders don't care because the second the company is no longer profitable, they give up their shares. The problem is that most company owners don't realize the shareholder mindset is threatening for their long-term activity!

Hi,

So you make advertisement for yourself, saying that the whole thing is full of scams.

You must be brave. Or unaware the effect such post may have on your reputation.

Hi,

Bitcoin price has already been lower. Quite logically, at inception, the price was very low, you could easily get 1 btc from faucet websites.

That's no longer true. The current price is low. People are freaking out because we have never experienced such a situation.

As for what will happen... Nobody knows!

Hi,

I must say that your title is... falsely leading!

But, indeed your story is interesting. You cannot double your investment within a month. If this was true, people wouldn't bother to work ^^

However, there are opportunities. And I think that what your post says is that it is impossible beforehand to know if an opportunity is real or just a scam.

That's why we should only invest what we can afford to lose..

Hi,

I would say that these two reasons... may explain part of the situation. But not completely.

Bitcoin is linked to many factors. It is hard (not to say impossible) to say what weights more or less.

As for the reasons you give, I'd say that actually they are rather secondary

Hi,

Definitely not.

I mean, bitcoin may be a source of profit, but this can't be sure. Whereas your stuff (car, house, and so on...)... Well, they have a real use. And you use it in your daily life so...

Hi,

Are you really ready to listen to anyone's advice?

People have their own reasons to say that such ICO is the best. So you should actually make your own decision.

And, other option: mitigating risks buying several ICOs. Maybe not the most efficient way but the safest I guess...

Hi,

I think there are several things to do:

1- Make people understand that bitcoin is not particularly dangerous.

2- Get rid of the link that is often made between bitcoin and illegal transactions.

3- Development the technical and technological environment to allow people using bitcoin, not only on dedicated online platforms.

4- Get bitcoin to be less volatile. Somehow.

5- Stop enhancing the "miracle" of bitcoin and how it can turn you into a millionaire.

Once all this is done, we may be able to start using bitcoin for daily uses... Not for today, right? But maybe tomorrow! 

Hi,

The price is low, indeed.

Though, is it a good opportunity to invest?

Well, it is hard to say. Because you can invest but maybe the price will never rise back. And no one can be sure about that!

Hi,

Actually there are two things here:

- Government would like people to believe bitcoin is dangerous, that doesn't make it actually dangereous. For authorities, bitcoin is threatening because it allows people to get rid of control and make anonymous transactions.

- Risks and threats should be evaluated according to your own criteria.. There are scams indeed but I guess that no more than in any other rather new environment.

Hi,

If you only consider crypto for the "trading" part, then alt coins are indeed interesting. Why so? Because when you buy any alt coin, any crypto other than bitcoin, you mitigate your risk. When bitcoin prices get low, price of all cryptos tend to fall... but some more than others. One day maybe, curbs will differ completely from one crypto to another.

So buying several is a way to mitigate risks. And bet over the future of several alt coins.

Plus, some alt coins are dedicated to some projects. Or can be used on platforms that only accept these kinds of coins.

Hi,

It is impossible to forecast. The issue is that the bitcoin community is split in half (at least).

On the one side, there are people considering bitcoin as a trading tool. So indeed, their objective is to make large profit. So the best solution is to buy when the price is low and sell when it is high. For them, a high volatility is not an issue at all. They try to foresee what will happen on markets and may influence reaction through alarming announcements.

On the other side, there are people seeing bitcoin as an opportunity of societal change. The blockchain and related technologies may allow us one day to have a currency that doesn't have any control authority and allow its users to make any operations without anyone/anything able to manipulate such operations.

Here is the current situation. Sadly enough, I'd say that the first group is much bigger than the second one.

Hi,

It depends. It highly depends on the country, on the people and so on.

The blockchain is a great tool. Many companies are trying to adapt its principles to their model. Because thanks to the blockchain, you can get rid of control authority. And that's great.

For developping countries, I guess this can be a way to mitigate the authority of a corupted government. But this can also be true for western "democracies" that are just covered oligarchies.

Hi,

I love this topic!

How do you "convince" a government exactly? If you have a way to make your voice be heard by responsibles, I am ready to learn about it! Otherwise... well, you are just one citizen amongst thousands... And you will not be heard.

Then, some governments are pretending that the problem wit bitcoin is about taxes. And volatility. But this is not a real problem. Taxation concerns what you earn and the  money that fall into your account. So actually, bitcoin can be submitted to taxation, if you turn your earning to dollars/euros/etc and put on your account.

The problem for governments is that bitcoin represents a threat. It is a currency they can no longer control or manipulate. Due to the blockchain, transparency is made true. Just because anyone willing to spend time on that can track any operation that has ever occurred. They are not ready for that!

Hi,

There is no rule. If you die, there are roughly two options:

- Either you told about your bitcoin, wallet, password and so on to any of your relatives. Then, since all is anonymous such person can use your bitcoin, sell them or hold.

- Either you told nobody and kept your secure phrase for yourself. Then your bitcoin are "lost". Well, they are on a wallet but nobody can use it.

So... Well telling somebody abuout all that seems pretty accurate to me!

Hi,

My story is not actually good or bad, but it is full of potential learnings:

I came to bitcoin for money. Clearly, I wanted to make the most of it. I read a lot about trading and started. And I was lucky. I thought this was because I had beatten the system and I was super smart but... Well that was mainly about luck.

Then, of course, I went on investing and... at some point, I wasn't lucky anymore. And stopped everything and left all my accounts. I had invested money I could afford to lose but losing it actually wasn't in my plan. So I quitted the community for some time.

And then one day I heard about a promising business. Its founders were trying to found it through bitcoin crowdfunding. I discovered a whole new aspect of bitcoin. I came back here and mitigated my bitcoin activity: it was no longer only about trading.

This is why I keep saying that bitcoin is not merely a trading tool. And this is also why I believe in it and in its potential!

Hi,

You may find it though from Internet giants to ban such ads but remember:

- The creators of these companies are now rather old. Not in age, but they belong to the previous Internet generation. Technology is evolving fast and thus they are "old fashionned". So they may not understand the potential of bitcoin.

- These ads were either promising things that wouldn't happen or directly lead people to scams. So preventing them for popping into anybody's screen is rather good.

- If we want to spread the word about bitcoin, we don't need ad or any traditionnal media. Telling about your relatives is a first important step!

So don't worry, be happy as says the song!