Jumping on the bandwagon

[thycrypto]

I really love how now that BTC has surged to 14k everyone is trying to get on and having FOMO. By everyone, I mean those who I spoke about crypto and how much they can make and the gains and value. They did not care about what I had to say. I spent months learning about it and paying for it and now they want to reap the benefits by taking them through it. What is your take on this?

[moanamakeway]

I really love how now that BTC has surged to 14k everyone is trying to get on and having FOMO. By everyone, I mean those who I spoke about crypto and how much they can make and the gains and value. They did not care about what I had to say. I spent months learning about it and paying for it and now they want to reap the benefits by taking them through it. What is your take on this?

Do you feel that some users take advantage of bitcoin? Or think lowly of bitcoin? I think it is not a matter of bandwagonning but come to think of it as bitcoin gaining popularity. Sooner or later bro, there will be lots of users studying bitcoin like you do.

[b1946ac]

I think a lot of people see at as a get rich quick scheme at the moment, these people with FOMO are driving up the price.

I think one day (hopefully) it will become a predominant world currency and be valued far far higher than it is today with a very stable price, comparable to fiat inflation (but the other way due to its cap). However in the short to medium term, we will run out of bandwagon jumpers to drive up the price and it will dip, or at least go sideways. This could be years away still as there are plenty of people still to come in.

That just my thoughts on the matter and I, nor anyone else can know how things will play out.

Anyway, the technology behind Bitcoin is really interesting and people worried about price are missing the most interesting aspect. (although anyone holding some amount is worried about that too, it's impossible not to be.)

[Vod]

I think one day (hopefully) it will become a predominant world currency

I doubt it.  How would the system handle millions of transactions an hour?

[b1946ac]

I doubt it.  How would the system handle millions of transactions an hour?

I'm not specifically talking about the Bitcoin blockchain itself, but the layers built around it, such as Lightning. In its current state it's at about maximum capacity now.

[JesusCryptos]

I have noticed the same exact phenomenon. These people did not understand cryptos then and they don't understand them now, they just now believe the can get free money.