Have we underestimated Bitcoin?

[virtualkeybuyer]

I agree that it has been underestimate, from the start peoples already sceptical about Bitcoin, most of them not believe that Bitcoin can survive and Bitcoin also always being associated with criminal which made the reputation worse, but the real usage of Bitcoin is very huge, there are so many good things that we can get from Bitcoin, if people looks more carefully they will realize that Bitcoin is a great thing

Even though they underestimated bitcoin their mind will changed if they will know what is bitcoin and what are the importance of having it. Bitcoin is the future of our current money and it will help us to do remittances faster than the traditional and that is when they are not going underestimated bitcoin anymore.

People do underestimate bitcoin. But when they get to know what kind of beast is this bitcoin thing they change their minds. Bitcoin is not only life changer it is also the mind changer of any person. I also underestimated it and didn’t give any importance to bitcoin but when it started changing my life I started getting interest in bitcoin. And many people also regret why they underestimated bitcoin.

[winterland]

Some of the most common critiques of Bitcoin are: "it's too slow" or "the blockchain is getting too big". Sure newer coins offer faster tech, more sophisticated algorithms that are ASIC resistant, and so on. Let me ask you this - do you ever ride the old train in your city? Do you sit on the train and wonder why they don't put in a new superconducting train instead? We use the old train and it's no wonder because it works. Don't fix something that isn't broken, haven't we all learned that the hard way? And if it breaks down, surely it will be cheap to repair. Besides, what do you think cost more to complete, the train itself or clearing the path and laying the tracks? Bitcoin has value because it is a store of currency that will appreciate AND because it's just there. How can you buy the hottest new altcoin? Directly with fiat? You must but BTC from a Bitcoin exchange, then trade it on an altcoin exchange.

So often I see people saying "we are in a bubble" and "when the bubble bursts..." - but weren't these people saying the same thing when BTC made a huge push up to 2,700? Maybe we simply underestimated Bitcoin. Remember, Bitcoin is the first of its kind. We can't really look to history to predict how it will be valued like we can with other things.

So before you sell your coins, ask yourself this: how long has the old train been running in your city?

This is correct the issue is that people see bitcoin the same way the see their computers, they think bitcoin can be replaced every year and that is not the way things work, bitcoin is going to be the number one crypto for at least a century.

[angaper]

Of course it has been underestimated too much, and that is why there is still so much reticence to its massive adoption. In addition to the reasons already outlined, other of the most commonly used against bitcoin is its alleged volatility, but it is clear that in the medium term this volatility has always been in favor of bitcoin, because although it may eventually face downward corrections of more than 10% in a day, the price always tends to return to the rise in a short time.

But time always puts things in their place and that is why those who have underestimated the bitcoin will be forced to board the train too late, when the visionaries are already comfortably seated and enjoying the trip.

[Absentis]

From the previous year, I have ignored bitcoin due to the knowledge the I have. Most of us here that where starting now really underestimated bitcoin that's why we are chasing more knowledge in the cryptocurrency world. Looking and learning here give me more opportunity for investment. Hope all of us will succeed. Cheers!!

One reasons that might hinders trust and appreciation of bitcoin from most recent years and months until present days is, the volatile bitcoin price so far. Many people doubted the capability of this currency and I think of todays time btc will amazingly touched the heart of everybody and made them feel more interesting of it's current expensive price, that's why investors were growing every now and then; so as the price also be rising.

[DoublerHunter]

From the previous year, I have ignored bitcoin due to the knowledge the I have. Most of us here that where starting now really underestimated bitcoin that's why we are chasing more knowledge in the cryptocurrency world. Looking and learning here give me more opportunity for investment. Hope all of us will succeed. Cheers!!

One reasons that might hinders trust and appreciation of bitcoin from most recent years and months until present days is, the volatile bitcoin price so far. Many people doubted the capability of this currency and I think of todays time btc will amazingly touched the heart of everybody and made them feel more interesting of it's current expensive price, that's why investors were growing every now and then; so as the price also be rising.

Good point. I agree with you that the volatility is one of the main reason why people are doubting bitcoin because for the majority of the investors, they see a very high risk in bitcoin market since the market is acting abnormally and that is not the common behavior of an investment because we are used to the movement of stocks where they are almost for long term but the price proves that bitcoin is still a good investment and like you said that is why the investors are growing.

[evilgreed]

From the previous year, I have ignored bitcoin due to the knowledge the I have. Most of us here that where starting now really underestimated bitcoin that's why we are chasing more knowledge in the cryptocurrency world. Looking and learning here give me more opportunity for investment. Hope all of us will succeed. Cheers!!

One reasons that might hinders trust and appreciation of bitcoin from most recent years and months until present days is, the volatile bitcoin price so far. Many people doubted the capability of this currency and I think of todays time btc will amazingly touched the heart of everybody and made them feel more interesting of it's current expensive price, that's why investors were growing every now and then; so as the price also be rising.

Good point. I agree with you that the volatility is one of the main reason why people are doubting bitcoin because for the majority of the investors, they see a very high risk in bitcoin market since the market is acting abnormally and that is not the common behavior of an investment because we are used to the movement of stocks where they are almost for long term but the price proves that bitcoin is still a good investment and like you said that is why the investors are growing.

                            As I can remember around year 2012 when i first heard about bitcoin, but like the other do, I keep on ignoring it because I don't have any concern and initially think that its just another scheme like what i commonly heard from the social medias and news. But as time passes by it took my interest and eventually it ended up that I became interested and got into this forum, but i regret because its too late and now I am coping up to learn more.

[CryptoBry]

Bitcoin has been underestimated for a long time all because cryptocurrency is still relatively new compared to other currencies and assets like gold for that matter. We should expect that if there would be new it would really be scrutinized and get criticized...this is just part of the vetting process and if one can pass that stage then you can be sure that growth would really follow. This can be the story of Bitcoin. But we need to upgrade Bitcoin if it wants to serve a bigger number of people. It could not just sit down while there are more and more people who want to also join the bandwagon. That is why we have that SegWit last August 1 and another thing happening in November.

[narutos]

Bitcoin withstands many competitions in the past, plus, most countries n financial
services acknowledged n accept Bitcoin as legit payment, how would Bitcoin cash compete against these???
Its only has value when people
belive n put value in bitcoin cash?

[revswim93]

I think bitcoin is being underestimated to this day. It's already changed the world but not as much as its going to. In the future everything will be priced in Bitcoin, when babies are born before their first words they will need to learn how to generate and hold their own private keys. Instead of running on gas cars will run on bitcoin and if the blockchain splits you will get into a car accident but its okay because you will have two copies of the same car.

[fasdorcas]

I don't know why some people view bitcoin as a pozi scheme, there is a far different between bitcoin and ponzi.
Bitcoin is a digital currency while ponzi is just a program that runs it activities with money. And until we understand this fact people will keep on selling there bitcoin as soon as they get it cause of the fair of losing they investment.
The best way is to study and understand it and keep drinking the old wine cause it tast the best.

If there exist such kind who thinks of Bitcoins as some ponzi scheme, they are the illiterate ones than. I would recommend them to Google their questions and clear their doubts before opening their mouths. If someone does not care about his loss then I would let him taste it.

[winterland]

I agree that it has been underestimate, from the start peoples already sceptical about Bitcoin, most of them not believe that Bitcoin can survive and Bitcoin also always being associated with criminal which made the reputation worse, but the real usage of Bitcoin is very huge, there are so many good things that we can get from Bitcoin, if people looks more carefully they will realize that Bitcoin is a great thing

Even though they underestimated bitcoin their mind will changed if they will know what is bitcoin and what are the importance of having it. Bitcoin is the future of our current money and it will help us to do remittances faster than the traditional and that is when they are not going underestimated bitcoin anymore.

People do underestimate bitcoin. But when they get to know what kind of beast is this bitcoin thing they change their minds. Bitcoin is not only life changer it is also the mind changer of any person. I also underestimated it and didn’t give any importance to bitcoin but when it started changing my life I started getting interest in bitcoin. And many people also regret why they underestimated bitcoin.

This is correct, bitcoin have been underestimating bitcoin from the beginning of its life and I think there are many people that regret to have done so since they could have become millionaires if they invested in bitcoin back in the day.

[Spinbackup]

OP has made a great statement. Don't fix something that isn't broken. There are sure to come changes to Bitcoin in the future, but the wheel will still be the same.

[chickenado]

OP has made a great statement. Don't fix something that isn't broken. There are sure to come changes to Bitcoin in the future, but the wheel will still be the same.

For me, I don't underestimate bitcoin because from start of using it, I became satisfied and alive because I can now help my parents in my own little ways. It may be not full but because I can trade bitcoin it makes it more profitable so I have no worries on that. On the other hand, it takes some risk because of many speculations that surround so as of this time we take consider of the time that we have to spend on so that you won't regret at the end. Underestimating a new thing like bitcoin is just throwing away a new blessing.

[corroze]

With today's high bitcoin values of course no one underestimates bitcoin,
almost everyone has great hopes for the bitcoin progress that will continue to grow because of course this will bring goodness to the lives of all parties involved in bitcoin.

[narutos]

With today's high bitcoin values of course no one underestimates bitcoin,
almost everyone has great hopes for the bitcoin progress that will continue to grow because of course this will bring goodness to the lives of all parties involved in bitcoin.

Many people now store bitcoin as value, some even consider its more valuable than gold due to its limited supply.

[Rinaze]

I feel that only people who are still not yet in crypto would underestimate (or in stronger word, ignorant) BTC in general. I can't imagine anybody who trades crypto to "underestimate" BTC, yes I refer to even the investors who are firm believers of BCH in the official announcement thread

[valentin68]

Bitcoin is here to stay. It will grow and grow and grow, no one knows until when. Some say that it will grow until 10000, other say that it will grow until 50000, other say that it will grow until 100000. Bitcoin is the new toy of everyone and makes everyone that has it, happy. It is 6 years old, and because of this it took the entire world by surprise. A surprise very big that made people to ask, where is its value going to increase.

[narutos]

Bitcoin is here to stay. It will grow and grow and grow, no one knows until when. Some say that it will grow until 10000, other say that it will grow until 50000, other say that it will grow until 100000. Bitcoin is the new toy of everyone and makes everyone that has it, happy. It is 6 years old, and because of this it took the entire world by surprise. A surprise very big that made people to ask, where is its value going to increase.

the sky is the limit? But value is assign by people, market, buy n trader.

[jostorres]

Some of the most common critiques of Bitcoin are: "it's too slow" or "the blockchain is getting too big". Sure newer coins offer faster tech, more sophisticated algorithms that are ASIC resistant, and so on. Let me ask you this - do you ever ride the old train in your city? Do you sit on the train and wonder why they don't put in a new superconducting train instead? We use the old train and it's no wonder because it works. Don't fix something that isn't broken, haven't we all learned that the hard way? And if it breaks down, surely it will be cheap to repair. Besides, what do you think cost more to complete, the train itself or clearing the path and laying the tracks? Bitcoin has value because it is a store of currency that will appreciate AND because it's just there. How can you buy the hottest new altcoin? Directly with fiat? You must but BTC from a Bitcoin exchange, then trade it on an altcoin exchange.

So often I see people saying "we are in a bubble" and "when the bubble bursts..." - but weren't these people saying the same thing when BTC made a huge push up to 2,700? Maybe we simply underestimated Bitcoin. Remember, Bitcoin is the first of its kind. We can't really look to history to predict how it will be valued like we can with other things.

So before you sell your coins, ask yourself this: how long has the old train been running in your city?

Bitcoin has not and will never be underestimated because the price would sky rocket, all you should keep it mind is that the bitcoin is a currency that could lose half of its value overnight and can also gain almost double of its value back in a day

[orions.belt19]

I get the analogy you're getting at but to be honest: yes, when I sit on the old train of our city I've been thinking about why our government won't buy a new superconducting train instead. The old train works but it brings more discomfort than convenience to the public. The repairs made were of little help and I think that getting a new train is the only solution.

Anyway, I get were you're getting at despite having different thoughts about the analogy you've made. I have the same sentiments for those who make discouraging remarks and theorizing that Bitcoin is a bubble. A lot of people don't believe in it and have their doubts, but I don't regret the investments I've made on it. I guess some people just can't help but cling to security and assurance.