btcrut2017
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April 13, 2018, 12:17:44 PM |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
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This makes sense because of lack of knowledge people tend to bend and panic then sell there bitcoins. With all the fake news circulating and not validating the reports they are afraid to lose money. As an investor we should take tome to learned what are we into so that we can be complacent whatever decision we make.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Ahimoth
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April 13, 2018, 12:20:12 PM |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
With all the hype that is generated by bitcoin I do think that most of the people who are newly joining are those people who just jumped right in without any research or without even any known facts about the cryptocurrency market that they are gettinng thenselves into. As such this results into a lot of back and forth and a very panic emotional climate once the going gets rough which I believe you are also leaning towards when you made this point I don't think so because even if the newcomers are just here to earn which is also the reason for most of usthem that doesn't mean they no nothing. Remember that bitcoin is an investment and you have to be wisecareful and smart order to gain your money. You can't just go here like that it takes mind an strategy. |
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Mumbeeptind1963
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April 13, 2018, 12:23:28 PM |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
With all the hype that is generated by bitcoin I do think that most of the people who are newly joining are those people who just jumped right in without any research or without even any known facts about the cryptocurrency market that they are gettinng thenselves into. As such this results into a lot of back and forth and a very panic emotional climate once the going gets rough which I believe you are also leaning towards when you made this point In order to succeed in this forum you have to be smart enough. You can't just put money and wait until it grows. It's not just about your capability to invest in bitcoin but you need to have strategic mind. It takes a quality mind to be able to do your goal in here. Here in bitcoin we need to work smart than hard. |
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Dudeperfect
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April 13, 2018, 05:06:20 PM |
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Well, I don't think that there is something wrong with the people because anything that has given 800,000% returns in less than 10 years has a capacity to attract a huge number of investors. However, this is a matter of time and I am optimistic about the growth in the coming years. We don't have Bitcoin/crypto friendly market environment as of now but we will see sustainable growth in the utility value of it over the period of time and mass users will shift the focus from speculation to utility down the road.
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zolfa
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April 13, 2018, 05:16:44 PM |
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yes, you are right, and that is the reality now, spirit and interest in bitcoin but not having knowledge of the crypto world is a big accident.
one of the things that affected bitcoin prices dropped yesterday is that many new members, and do not know the bitcoin, so the bitcoin price will still go down if there are still many sellers who panic.
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RodeoX
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The revolution will be monetized!
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April 13, 2018, 05:31:06 PM |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
I guess I do see that. But maybe we should expect it. When this was a small project the people who were interested were money nerds, hackers, economic freedom types. These demographics are people who basically understood the ideas of the white paper. When the price went silly high it began attracting more and more delusional get rich quick players. Increasingly people said they were "investing" in bitcoin, not using it. The irony is that sort of activity is not very productive in an economy and creates wild swings in valuation. As long as we have a speculative economy you should expect boom and bust cycles with 50% + drops. Since our new "investors" often have little or no knowledge of programming, cryptography, or economics... They are easy prey for alt-coin scams and fear based social engineering. It can all make for an ugly scene, but this is what we have and none of us has any more power to change it than the next guy. |
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mattmct
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April 15, 2018, 03:33:44 AM |
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Early adopters of crypto had deep knowledge on bitcoin whereas nowadays many people get into it because of the price highs.
However, I don’t think it is that bad. If you only have quality users you are not going to have massive adoption, and the other way around but there are some users that get attracted to bitcoin for the price that, as soon as they get into it, they become interested in blockchain technology and other aspects so they educate themselves and improve their “quality” as users.
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mx667
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April 15, 2018, 03:37:53 AM |
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Early adopters of crypto had deep knowledge on bitcoin whereas nowadays many people get into it because of the price highs. However, I don’t think it is that bad. If you only have quality users you are not going to have massive adoption, and the other way around but there are some users that get attracted to bitcoin for the price that, as soon as they get into it, they become interested in blockchain technology and other aspects so they educate themselves and improve their “quality” as users.
It is actually depends on the sub-forum that you are talking about, and the topic that the users are talking about. If you talk about shitty thread and shitty sub-forum, then your point might be right. I also think that your point of view is the same as my opinion. There are a lot of users in this forum that only want to earn money from Signature Campaign. I am one of them and I admit that most of my posts are not qualified post or not a good quality posts. Most of them are just garbage and wasting time. But if you talk about some serious stuff about mining, trading, and investing, those topics may be a good quality thread and only serious people will discuss about that. |
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boy130
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April 15, 2018, 03:47:18 AM |
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I think to some degree the quality on the whole is likely to diminish over time, this is simply the way that technology works. The elite level specialists usually get their hands on it first, then it trickles down to those who are technically proficient, before then being accessed by the standard person, and finally then accessed by the technologically illiterate. That being said, there is still a new wave of people who take the time to learn, and eventually build themselves up to be masters in the industry, these didactic individuals are present in nigh every industry and ensure that the flow of new talent is always consistent, as there are always new generations of people looking to involve themselves in tech. I also think that public resources on bitcoin and supporting technologies is becoming much more widespread, this allows those with the desire to easily educate themselves in things like Blockchain, Solidity, Node.JS and other core languages to keep generating a steady stream of pioneers. Hopefully this trend continues, it is true that most of the game changers have been early adopters, e.g. Vitalik Buterin, Zooko Wilcox etc, but there have definitely been some promising ICOs lately that don't appear to have been started by the first movers, e.g. NEO and ADA, but regardless usually have some oversight from early advisers. I guess that's the nature of all games, you either get in first and become a whale, or scrape your way to the top as the climb becomes more congested. Never stop learning people. You might become the next Satoshi.  |
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loismanny88
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April 16, 2018, 01:24:21 PM |
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Everyone was a noob once. People entering crypto right now will have time to educate themselves. Plus, people entering now have a lot more to lose. People who bought btc at $200 are sitting and chilling, while those who bought at 20k are panicking and the ones who are selling..it's kinda logical when you think about it.
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dado7
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April 16, 2018, 01:28:24 PM |
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It is the same with all that is new. First it is not interesting, then it becomes interesting, and finally, everybody starts following it, more or less.
It is normal that in this "overhype" phase we have a relatively whole lot more non-quality users, but we also do have an absolutely greater inflow of quality users as well.
So - relatively speaking - you are right, and absolutely speaking - you are not right. More and more good, technically or economically skilled people who trust the project are joining every day, however much more of those looking for short-term profit are joining too.
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Ronaldohi
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April 16, 2018, 01:36:04 PM |
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Many investors are only interested in profits and they overlook other potential factors. But Chinese investors choose to lower the price of bitcoin to buy and push higher prices to sell. They are really wise in business and you may be thinking too negatively about this.
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caloy06
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April 16, 2018, 01:38:55 PM |
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I think, we can get a quality users in bitcoin because, bitcoin is a opportunity easy way to earn lot of money. It is easy job to earn money so, it is a good quality to everyone. We can get a quality to earn so, I think it is not cause to everyone to didn't get quality users in bitcoin anymore. Bitcoin is a life of everyone if have no job and not good salary so, bitcoin is a quality to get it.
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CAPTEZECC
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April 16, 2018, 02:24:38 PM |
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I agree with you some how, it is actually those participants that has little or no knowledge about bitcoin that create so much panic in the system but I think we still have some quality users of bitcoin.
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shezu007
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April 16, 2018, 02:30:32 PM |
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According to my experience we can get a quality clients in bitcoin in light of the fact that, bitcoin is an open door simple approach to acquire part of cash. It is simple employment to win cash along these lines, it is a decent quality to everybody. We can get a quality to procure along these lines, I think it isn't cause to everybody to didn't get quality clients in bitcoin any longer. Bitcoin is an existence of everybody if have no activity and not great pay in this way, bitcoin is a quality to get it.
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ju5510993
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April 16, 2018, 02:40:44 PM |
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With the rapid growth of BTC, many investors just use gambling mentality to invest in BTC!
They are not willing to learn the knowledge of blockchain at all. They can only use panic selling when they hear some bad news and have no ability to judge the truth of the news.
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zolfa
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April 16, 2018, 02:59:31 PM |
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Obviously newcomers will have that fear and start panic selling. But these kind of users are also necessary for the dump and pump game that happens with almost all cryptocurrencies.
Other thing is, people are impacient to get some money nowadays, so that also make the less knowledgeable just invest for a little time, and sell for some profit.
yes, but they have a more negative impact on the market, so I think newcomers should many ask to bitcoin masters, or join bitcoin communities to receive knowledge about bitcoin. so they always get guidance from the bitcoin master and minimize panic sales. |
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weertgilders
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April 16, 2018, 03:24:33 PM |
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The last bull market brought in a lot of new investors into the market who didn't understand how bitcoin or the market itself works and most of them just panic sold when the market started going down but the real bitcoin investors are still in the market.
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romandos86
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April 16, 2018, 03:48:13 PM |
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Such people will always be a lot in the sphere where you can quickly make big money. This is absolutely normal)
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salamyman
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April 16, 2018, 04:01:14 PM |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
Basically all people here are about getting profit. Yes, I'm sure there are people that are really interested about the internal mechanics and for which profit is a byproduct but they must be really few. Also bitcoin is pretty complex and in order to be passionate about something you must understand it. And basically all tutorials are (I don't know if intentionally or not) complicated. People should be helped to understand it in order to use it properly and, of course, to like it. |
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