Do you have a feeling BTC has slowed down a bit?

[Cryddit]

I dunno.  I was there at the very beginning, and I reviewed the code but I figured it was just another electronic-cash idea, and cryptographers had been watching those FAIL for years and years and years.  The digital graveyard is littered with their corpses.

So...  I didn't even buy in.  I could have just put up a node in those early days and CPU mined thousands of bitcoins.  I didn't even get involved.  Hal Finney went for broke, I just went "hmm, looks okay." 

A couple years later I had a look...  The price was up around $30 at the time, and that was encouraging, but as far as I could see the value was 100% due to criminal use.  That would be the same kind of DOOMED as all the previous digital-cash and e-gold and so on that came out of the cypherpunks and all that crew, and had mostly ended in messy takedowns and prosecutions and SEC investigation for securities fraud, money laundering, corruption, etc... As I said, cryptocurrencies are not a new idea and if you're in crypto for any length of time you've seen dozens of them.  And as long as it was looking just as DOOMED as all the others, even though it had lasted longer, I continued to stay the hell away.  But I started watching, and from time to time, I went "hmmm, not dead yet."  But the community tended to be mainly Anarchist/Rebel/Anti-Banking/Anti-Legitimacy, and I felt pretty strongly that unless it got better it had no genuine future outside of criminal enterprises and an eventual law-enforcement takedown.  Let's face it; you're not going to build genuine value in criminal enterprises and you're not going off by yourself where the government is going to leave you alone.

I didn't buy in, in fact, until the community started showing signs of a will to go legit.  When there started to be voices on the forum that answered setting-up-a-market questions with "you need to lawyer up and be careful" rather than "FUCK THE GOVERNMENT! WE'RE ABOVE THE LAW!  DO WHAT THE HELL YOU WANT BECAUSE THE AUTHORITIES ARE ALL CORRUPT ANYWAY!"

Yeah, it was when I saw that there were, in fact, a few sane people who were interested, who might actually build legit businesses and make Bitcoin into something valuable and real rather than just a way for crooks to hide money movements that would be doomed to fail -- That was when I bought in.  So I didn't make nearly as much money as those early whales.  But I think I feel better about it than if I'd done otherwise.

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[LiteCoinGuy]

After quite turbulent events during the last few years, I somehow feel BTC economy s been slowing down a bit. Maybe people are losing interest after not seeing those price jumps/decreases which we witnessed in the past. I know statistics ll probably dispute my claims but this is just my feeling. How do you feel about it, are people still into BTC?

In what way, shape or form has Bitcoin slowed down when you look at this?




Calm down, just because people is dumb and dont see the benefits in BTC yeat, doesnt mean it has slowed down.

the problem is: most people dont even read news on coindesk and they would never ever look at charts or vc investment graphs and reports. they only look at the price. because its easy. because most are lazy.

and then:

"OMG Price keeps going up! Who will spend it when they can hold it and make money? Bitcoin will fail!"

"OMG Price keeps spiking! It goes up and down so fast! Who will accept it when they can't trust the value to be the same? Bitcoin will fail!"

"OMG Price is stagnant! It's been in the same range for months! Clearly interest has waned and the end is near! Bitcoin will fail!"

[futureofbitcoin]

You can't just take 1995 money for 2015. As an example, people in China made maybe 100-200 yuan per month in 1995. Nowadays, the same people make anywhere from 5,000-50,000 yuan per month. It's not just inflation, people are getting richer in an absolute sense as well.

So I think if we take everything into consideration, we're no where near the importance of the internet for VCs in 1995 yet. I like what Cryddit said though, and I'm in absolute agreement. I didn't hear about bitcoin as early as he did, but I don't regret not getting in when it was only drug money, and I really feel that bitcoin needs "normal" people, those who are not lawless anarchists or extremely tech savvy nerds. And these people, like me, are slowly coming into this field.

[Hazir]

One of the problems I think is that there a little immediate rewards for getting interested in crypto. Well, ok, you buy some bitcoins, then lose a bit on gamble, a bit on scammers, a bit for other things mostly because of noobish mistakes and the experience is not that good. Another scenario is that you buy something with bitcoins, but overall you don't save much if at all. I mean if people are not enthusiastic then the rewards are not enough to get interested and give a shit for crypto currencies. Of course somebody will say - but they can become millionaires in future if they hold. But the thing is that to most people these promises looks like a general scam or some shady scheme like those pyramid sales of hygiene shit products.

Bitcoin is decentralized so you won't get anything anything like "promotional" bitcoins or tax free transaction just for free from bitcoin CEO. They only way you will have some promotions for new bitcoin users is when external services like exchange markets will start doing some events like that, and for now most of them are like... not rich enough to do so.

[QuestionAuthority]

One of the problems I think is that there a little immediate rewards for getting interested in crypto. Well, ok, you buy some bitcoins, then lose a bit on gamble, a bit on scammers, a bit for other things mostly because of noobish mistakes and the experience is not that good. Another scenario is that you buy something with bitcoins, but overall you don't save much if at all. I mean if people are not enthusiastic then the rewards are not enough to get interested and give a shit for crypto currencies. Of course somebody will say - but they can become millionaires in future if they hold. But the thing is that to most people these promises looks like a general scam or some shady scheme like those pyramid sales of hygiene shit products.

You really do kind of need to buy into the libertarian propaganda to appreciate the value of Bitcoin. Most of my friends are older (35+) because I am and they don't see the advantages for ordinary everyday use. When I attempt to get them to give Bitcoin a try and do my best pitch they always decline and give one reason that I can't defend against - fraud protection. They tell me they don't mind a few fees or having to wait a day or two if they are guaranteed their money is safe. Then I start hearing the stories about the time some crook charged something on their credit card or debit card and they got all the money back immediately.

If some intermediate company solves the fraud protection problem Bitcoin will stand a much better chance of success. Bitcoin (or some blockchain variant) would be great as a hidden system for companies to use to transfer funds around. The company could guarantee and insure the funds transfer. The citizen could transfer funds in any fiat value quickly and cheaply without ever knowing Bitcoin was the system used to do it.

[acquafredda]

I totally agree with Litecoin guy

the problem is: most people dont even read news on coindesk and they would never ever look at charts or vc investment graphs and reports. they only look at the price. because its easy. because most are lazy.

Too many lazy people around.
 

[dothebeats]

One of the problems I think is that there a little immediate rewards for getting interested in crypto. Well, ok, you buy some bitcoins, then lose a bit on gamble, a bit on scammers, a bit for other things mostly because of noobish mistakes and the experience is not that good. Another scenario is that you buy something with bitcoins, but overall you don't save much if at all. I mean if people are not enthusiastic then the rewards are not enough to get interested and give a shit for crypto currencies. Of course somebody will say - but they can become millionaires in future if they hold. But the thing is that to most people these promises looks like a general scam or some shady scheme like those pyramid sales of hygiene shit products.

I've introduced bitcoin to my Economics teacher last year and the thing that really hurts me as a bitcoin user is this question:

"So, is it a scam?"

I had a hard time explaining the positive side of bitcoins to her. Also, I'm not a bs person so I also explained to her that there are some crimes happening around the bitcoin ecosystem as well. The thing is, most user fail to explain to other people the whole of bitcoin; the different sides of it and what it really means to hold a piece of the digital currency. If we, as users, deliver everything that a potential user need to know, then maybe he/she will reconsider everything first before saying no or staying. It's hard to see people cursing bitcoin to the ground after they found out of themselves that bitcoin is related to many dark activities in the interwebs, and in the real life as well. I don't know but this was the impression shown to me by the same economics teacher that I'm talking about. If we only deliver every single aspect and side of bitcoin, we might as well get serious people who has a strong belief in bitcoin because they already know what they are going into, instead of having people believe that bitcoin is all good. Fiat is also tainted with crimes and the likes, so as every other currency available. Then why not tell it to others while it's early? It's like giving them a warning that this is not all about good stuffs. You're holding money, and as history states, money is tainted and is forever attached to crimes and illegal doings.

[Kprawn]

I cannot see any "slowing down" ..... The daily transactions increase, and it stays at the same high levels.

The huge price volatility is gone .... something most merchants asked for and are now complaining about. We humans are never satisfied.

Merchant adoption increase daily.... and this shows their are interest in the market for Bitcoin. 

[QuestionAuthority]

I cannot see any "slowing down" ..... The daily transactions increase, and it stays at the same high levels.

The huge price volatility is gone .... something most merchants asked for and are now complaining about. We humans are never satisfied.

Merchant adoption increase daily.... and this shows their are interest in the market for Bitcoin. 

Things like this are slowing Bitcoin down ever so slightly:  https://bitcointalk.org/index.php?topic=1005634.0

[Minerjoe]

Well I guess this slowing down feeling s been also caused by this price decrease. When the price was being pumped up, everybody wanted piece of the cake. Now, weak hands have left and only true believers are here.
However, BTC can grow without these weak hands. More positive news and events are needed.

[Hazir]

Well I guess this slowing down feeling s been also caused by this price decrease. When the price was being pumped up, everybody wanted piece of the cake. Now, weak hands have left and only true believers are here.
However, BTC can grow without these weak hands. More positive news and events are needed.

The problem with bitcoin is that it is too volatile. Bitcoin has been on a roller-coaster ride, losing more than half its value last year. Do you really think it will stay strong because of some "true believers"?
I will tell you. That it not gonna happen. And I think we need something to make bitcoin stable. If we don't find anything to back bitcoin soon with then digital currency backed by a physical commodity will be more appealing than volatile bitcoin in the future.

[Snipe85]

Well I guess this slowing down feeling s been also caused by this price decrease. When the price was being pumped up, everybody wanted piece of the cake. Now, weak hands have left and only true believers are here.
However, BTC can grow without these weak hands. More positive news and events are needed.

I partially agree, but the majority seems to be tired by all the positive and negative news. There's been so much FUD and manipulation in 2014 that even news are losing impact.
Bitcoin is still doing fine and the price is decent. If you bought last year then probably you'll say it's weak, but Bitcoin hasn't started from the 2013 pump, but has been around for years before and the average price is still on the rise.

[gentlemand]

I will tell you. That it not gonna happen. And I think we need something to make bitcoin stable. If we don't find anything to back bitcoin soon with then digital currency backed by a physical commodity will be more appealing than volatile bitcoin in the future.

Maybe the only thing that would give stability would be world dominance. If it 'stabilised' at $250 it could be smashed upwards or downwards every time a fresh group of people discovered it. Said volatility on the way up pretty much negates potential world dominance but you never know.

[tss]

This WHOLE POST is a signature campaign.  
I am glad to see sig spam on a whole new level. 
If op has no substance than it makes it easy to add to the discussion and sig spam.

[tokeweed]

After quite turbulent events during the last few years, I somehow feel BTC economy s been slowing down a bit. Maybe people are losing interest after not seeing those price jumps/decreases which we witnessed in the past. I know statistics ll probably dispute my claims but this is just my feeling. How do you feel about it, are people still into BTC?

Like anything, people will tend to lose interest in it.  But for the long term, I think cryptocurrencies are here to stay.

[Beliathon]

Do you have a feeling BTC has slowed down a bit?

Nope, sure don't.

[Saw]

Do you have a feeling BTC has slowed down a bit?

Nope, sure don't.

https://ip.bitcointalk.org/?u=http%3A%2F%2Fi664.photobucket.com%2Falbums%2Fvv10%2FJimboToronto%2FBtcGrowthChart.jpg&t=550&c=GGqZfgtjKtteyg

https://i.imgur.com/F92kEVT.png

 That's an informative graphical depiction.Perhaps I should refocus my efforts to acquire more BTC.

[bitbets]

I don't agree with the idea that all early bitcoiners were in it for the drugs or drug money.

That makes no sense to me at all.

I found bitcoin in the fall of 2009, but that was just because I had some fun at a virtual stock exchange in 2007,
and I was searching for something like that.
It had nothing to do with drugs at all.
I like to speculate on  things that other people rejected, but I see opportunities.
(sure, I didn't buy or get involved with bitcoin back then, and i feel robbed because of circumstances,
but I dont intend to make the same mistake again)

Similar to why I am into smartcoin now. I see opportunities when other people reject something sometimes.

I never have understood people who won't take chances on speculative investments,
which might pay 10x, 100x, 1000x or more.

bitcoin is hardly dead. its just getting started is what i think.

[OpenOcean]

It just feels that way because the market is a voting machine and not a weighing machine. Just remember that BTC started at 0.0001 USD

[Amph]

the current market is stagnant this way you feel it in this way, but it's a good thing it mean that the price is stabilizing, we are correcting in price slowly

bitcoin is on a right track, the price from now will rise naturally, without any stupid manipulated pump(aka 1200)