Will bitcoin trap more new user in coming years

[aso118]

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?

It is but natural for new people to discover Bitcoin and be attracted by its properties. It doesn't matter what various governments try to hinder its adoption. The march of progress cannot be stopped. 

[mrjoy15]

Of course, bitcoin will stay alive. We undoubtedly need much more people investing to achieve any type of mainstream adoption, though. Unfortunately, the block size debate rumbles on & on but once it's been resolved we'll at least be ready & prepared for increased adoption.

I too believe that bitcoin will stay alive because people love this technology but government hates or they are against bitcoin and other such coins because its not totally legal as there is no central agency to control the flow of money. But very recently Our nation's government had alerted bitcoin user and told its user should use bitcoin with our own risk.

Bitcoin has already proven itself that it will be dominating the coming years.However,most of government in the world banned bitcoin and surely there have reliable reason.As a reaction government against bitcoin.Ultimately,nothing were effected popularity of bitcoins,it growing and growing day by day also many people evolve to use bitcoin-based payment.Where I have hardly believed that bitcoin will stay alive a long time,never will trap.

[RodeoX]

Help! I'm trapped in a system of fair money that only I control! The value keeps going up and I can't stop it, help!
 

[chaser15]

The answer is clear if we based on the current situation today.

No doubt that more people will use this currency, not just with it's price but to test things that fiat transaction can't do. We already seen the progress of bitcoin users since the beginning and even with no live stats of the total bitcoin users, we can clerly that it's increasing day by day. Here in my sole area back then, Im the only who knows the idea of using bitcoin but now gained attention even not that much and other cases of it are being spread out of the country. Thanks also to our local exchanger for making this things possible.

[brobbel]

Sure it will "trap" more new users. That's one of the reasons price is going up: supply and demand.

And slowly there are more and more options to use it. There are more exchanges available, so it's easier to use it as in earlier days, and this is growing also.

[JimboToronto]

When you use the word <trap> you make it out as some scam, which it is not. Bitcoin is a legitimate commodity/currency and it is been used globally. Yes, it will attract more users and services that would accept it, because it is a very good alternative to other centralized payment options.

PayPal trap people, not Bitcoin. ^smile^

My sentiments exactly. Do I feel "trapped" because of all the money Bitcoin has earned me in the last 4 years? Hardly.

When I first saw this thread title, I thought it would be just another lame troll thread spamming FUD about ponzi schemes, bursting bubbles and prices plummeting to zero.

Then I realized that English is not the OP's native language and didn't understand what he was implying by using the word "trap".

He should have used the word "attract".

[MatDerKater]

Well exactly. People say that it is different this time because of the infrastructure and people really using Bitcoin now.
Who actually uses Bitcoin as a currency though?  The biggest use was to buy drugs online, that might still be the main use, I don't know.

Next is gambling. What else? I mean there are lots of things you can use it for, but 99% of the time you can just use fiat instead and hold your Bitcoin instead.

It is being used as a commodity, I don't think it traps users, I think people hear about it, buy a small amount, maybe gamble it or sit on it, then forget about it or sell.  What else are they supposed to do with it!?

Venture Capital that comes into Bitcoin in a big way, are trapped in Bitcoin. But unlike back through 2012 - 2013, no real new significant wealth is coming into Bitcoin.

For example, how many Bitcoin is Tim Draper, the dude who 'won' the SR coins auction, sitting on? Around 50K BTC, which he bought at $800 a piece (averaged out). Right now, a specious argument could be made that Draper is up 30% or so on his investment, but how does Draper take some profits out of his pile, without tanking the market and depleting the value of his capital? Certainly if Draper wanted 100% out of Bitcoin, I would imagine that 50K of raw selling pressure (i.e. not traders swishing BTC back n forth trying to suck up Joe Public's money), 50K of sold BTC, that would not be buying back in at lower price point, and which would result in the creation of a whole new tranche of bagholders desperate to get out of their positionsm, would take back down to low-mid triple figures, and give big headaches to all the other Tim Drapers out there, who desperately need the nominal value of their holdings to remain high, not forgetting miners who need by now a steady stream of Bitcoin consumers willing to pay at least $450 just in order for them to cover thier costs.

Taking the Chinese bullshit volume out of the equation (although the China shenanigans does point out from exactly where this market is being driven), Bitcoin has been pushed up to near record highs on wafer thin volume, and that is not a sign of a strong healthy market.

I think Bitcoin will most likely pull back a significant amount from here, consolidate and build a platform for the next fabricated launch up to $1500+, So profits to be had aplenty, but Bitcoin is just not a very safe market to be playing in at all. Joe Public aint biting cos there just aren't any advantaged to Bitcoins over conventional cash, outwith it's use on darknet markets, due to it's anonymous nature, which it turns isn't that anonymous at all. Meanwhile, there are faster, more streamline, and genuinely anonymous alternatives which is already being accepted as payment on darknet markets waiting in line to replace Bitcoin in that essential sector.

Joe Public aint buying it, and because Bitcoin has become so dominated by China, Fresh western venture capital inflow has dried up. If there is to be another Bitcoin miracle (i.e. 1000%+ price increase in a very short space of time), the X Factor will have to come from China. It will most likely have something to do with Capital Flight, and if that were to be the case, the PBOC could just close Bitcoin down with a snap of their fingers. A sudden drop in 85% of the mining capacity combined with a huge market panic would end the Bitcoin story imo.

[Denker]

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?

What could they do?
Speaking out bans? Worldwide? Not going to happen!
And even if they could take control over Bitcoin or destroy it, the technology is out of the bottle!
There will be other decentralized coins, with more privacy. The shift will happen, if the incumbents like it or not.
The harder they will try to control Bitcoin, the worse it will get for them.

So yes I believe Bitcoin will stay alive, without being controlled by the big bad guys.And as I said, there will be other choices, much more venomous than what BTC is!!

[Dammitt]

I can say that this is totally up to us, but the more people we talk about, the more it gets to the masses. In this way, people start to use and learn after learning it. It's early for this now, but most government units are now trying to bring some legal obligations for the bitcoin, which is causing people to be skeptical. But I think these temporary situations can never reach this way. As soon as I say, too many people will have heard of this crypto currency.

[Tanic]

When it was just beginning, Bitcoin was little more than just a speculative tool for intraday traders seeking a quick profit...
Therefore, like currency, Bitcoin had very little utility, except for purchases on the black market. Like making your rent payment in Yen (Japanese currency), the purchase of goods with bitcoin was something like that, something you wouldn't do. And, after many years of gradual acceptance, more and more people use Bitcoin for transactions in the real world every day. In January 2010, Bitcoin was less than 200 transactions a day. Today, the number of transactions in the digital currency more than 300,000 per day.

[maker88]

Of course, bitcoin will stay alive. We undoubtedly need much more people investing to achieve any type of mainstream adoption, though. Unfortunately, the block size debate rumbles on & on but once it's been resolved we'll at least be ready & prepared for increased adoption.

I too believe that bitcoin will stay alive because people love this technology but government hates or they are against bitcoin and other such coins because its not totally legal as there is no central agency to control the flow of money. But very recently Our nation's government had alerted bitcoin user and told its user should use bitcoin with our own risk.

What are you talking about, govts hate bitcoin? Pretty sure if they did, they would ban it. They know about it, and they haven't banned it. That means that they don't hate it. What nations govt are you talking about any way?

[brobbel]

What are you talking about, govts hate bitcoin? Pretty sure if they did, they would ban it. They know about it, and they haven't banned it. That means that they don't hate it. What nations govt are you talking about any way?

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

[MatDerKater]

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?

[bitbunnny]

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?

Governments can ban Bitcoin that is true but that is not in their best interest and I beleive that most countries, at least the developed and prosperous ones, will not do that. Even in countries where Bitcoin will be baned people would not stop using it, like they don't stop with illegal activities, although they are baned. In fact some people would be attracted to Bitcoin just for the fact that it is baned.

[MatDerKater]

Governments can ban Bitcoin that is true but that is not in their best interest

Of course it isn't.

Bitcoin is the prototype for the coming global digital (and fully traceable) currency.

Current crypto are all pilot schemes. Takes a lot of test runs before you have the pragmatic know-how to implement the final solution.

[maku]

As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?

You said it as bitcoin was some kind of Ponzi scheme where old users need to invite new blood because network will collapse otherwise.
Bitcoin is not a trap for anyone, it is a choice, if you think it won't be good investing in BTC, then just buy and support it.
People are suddenly waking up when price is over $1000, saying  "but it is too much for me to buy" but it is only a beginning.
With limited number of coins, deflation will hit us, making our coins much more valuable.

[marcuslong]

If theres an new users wo will use bitcoin for their business well for me bitcoin will be totally increase it self it because the volume will be increase again not because they bough it some said bitcoin is a big kind of ponzo scheme scam but if they know how to control or to earn from it they will enjoy using it like my friends who i invite already to use bitcoin as trading.

[aardvark15]

I think more people will be interested in Bitcoin as it gains value. And it obviously has value for a reason beyond the novelty of it now that it has survived several years. I think it will always hold some value and will probably just increase.

[pooya87]

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?

so far most governments of the first world countries not only not banned bitcoin but also they have legitimized it. and the only country that has banned bitcoin is Bangladesh and another one that i forgot, and that has not stopped their people to buy, sell, invest by holding bitcoin!

[Amph]

They hate (or dislike) it because they don't have control.

They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.

They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.

What do you mean they 'can't ban it'?

All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo?

"Governments" isn't equal to a single entity hopefulyl, therefore what a government decide against bitcoin is irrelevant, it will only get banned there, this is why you can't do shit to bitcoin, unless all the government agree to ban bitcoin

and somethign is telling me that this will not happen ever, also notice how there are many illegal things in this world yet they are still "used", this enforce the fact that bitcoin is untouchable, in my case i would still use it if it was banned everywhere....