People's feeling towards Bitcoin is changing

[Iranus]

Technically speaking you can't attribute a stock/asset to a bubble without it crashing. Until then its purely speculative which has no underlying foundation.

That is the very definition of stupid. You can't say something is in a bubble until after the the bubble has burst?

You can say it, but you can't say it with certainty.  I agree that BTC is in a bubble, but you also can't know that in as irritating a manner as you do.

A fundamental problem in Bitcoin. All agree there is a big problem, but no-one can agree on actually doing anything about it - because part of the community makes good money from the flaw.

It's an important security mechanism.  BTC prides itself on allowing people financial sovereignty.  If there was a problem major enough for people to begin leaving - for there to be a panic - consensus would naturally have to form.

For example, in 2010 (before the code was widely checked, as there were not many users at all), there was an overflow bug.  Everyone quickly forked to a new chain in which the problem had not occurred, and their funds were safe.

That's the magic of decentralised consensus.

[bhabygrim]

There has been an interesting change over the last few days.

A few days ago all users in here responding to my posts were extremely angry that I would even suggest that there might be problems with Bitcoin. But over the last 24 hours, there has been a change. Now I more and more see:

- people who agree we are heading into a bubble (altought different views on when it will burst)
- people who agree that miners are increasing transaction costs dramatically and are a threat to very idea of decentralized Bitcoin itself
- people who have lost money due to various hacking scams

The tide clearly seems to be turning

There are a lot of different opinions regarding bitcoin. Some think that bitcoin is bad and some find bitcoin convenient and profitable. We ahould just respect other's opinion regarding bitoin because each of us has different views on bitcoin.

[HasHe]

The problems OP has mentioned are not new,already they have been in existence.But we should also not forget that despite these problems,bitcoin is progressing day by day.Miners send fake transactions to make bitcoin transactions to get stuck,but they are just a temporary issue.Regarding scams,users should be careful to avoid such things and should not blame bitcoin.

[senin]

People's opinion about bitcoin really changes and it's natural. People start to get annoyed by the fact that the bitcoin command does not eliminate its shortcomings for such a long time, such as a long transaction time and its high commission value. Instead, clones are created, supposedly designed to eliminate these shortcomings. This causes a certain confusion: bitcoin cash, bitcoin gold, bitcoin diamond ...

[dawoodkhan97]

Let me tell you my story:
A year ago when bitcoin was at $750, I told my relatives
about bitcoin and how it had potential of going up to $5000
or more and all I got from them was that it was a scam and
it had no technology etc.

Fast forwarding and now almost everyone of them ask about
bitcoin and if it is safe to invest in it or other cryptocurrencies.

The irony...

[qxo35]

I think that the biggest change is in the public opinion about bitcoin. All uneducated people are saying that bitcoin is only a bubble but at same time the same people are asking me where to buy bitcoin or better to say, they are asking me to buy them bitcoin because they all think they can earn a lot of money with it in a really easy way. So the public opinion si quite contradictorial cos they are against bitcoin but at same time they want to earn with it.

[digitalgame4life]

It surely is changing, just read that real estate companies are beginning to use bitcoin as payment for houses and renting houses or appartments, it is going towards a very good direction, I wonder where bitcoin will be in the coming years, looks very bright!

[romec1701]

Crypto currency is here to stay. No doubt about this. But for it to really thrive and become more mainstream, in my opinion, bitcoin itself needs to die. Or at least change substantially until it doesn't really reflect what it has become.

Miners are too powerful.
Mining takes up too much energy.
Transaction fees are too high for fast and multiple confirmations.
BTC/FIAT exchange rates are way too volatile.
Scamming/phishing/hacking is too commonplace.
The system is far too unforgiving (lost passwords, mistyping addresses all lead to lost coins with no recourse.)

Bitcoin it self has become a classic ponzi scheme with value rising due to the greater fool theory (where its is not determined by its intrinsic value, but rather by the irrational expectations of market participants who believe that another party is willing to pay an even higher price than they paid.) The higher prices being paid are predominantly by new/new-ish entrants into the market as older market participants that mined or purchased in the early days already hold their value.

It is not a currency in the traditional sense (too volatile FX rates, transaction fees too high for fast and multiple confirmations), and it has strayed from its original purpose of decentralising money (miners have too much power and it is impossible for the average person to participate due to the incredibly high cost of entry for the business).

It is not a particularly good store of value. It is very secure, but both volatility of the value and the extremely unforgiving nature of the system (wallets, encryption) paralleled with the high incidence of fraud and scamming mean it is too easy for people to lose their assets.

But honestly I cant see bitcoin dying as it is too powerful and so many of the participants have incredible value locked away and have a massive incentive to keep it alive. But if it doesn't I cant see cryptocurrency becoming truly mainstream.

[ZaraArun]

There has been an interesting change over the last few days.

A few days ago all users in here responding to my posts were extremely angry that I would even suggest that there might be problems with Bitcoin. But over the last 24 hours, there has been a change. Now I more and more see:

- people who agree we are heading into a bubble (altought different views on when it will burst)
- people who agree that miners are increasing transaction costs dramatically and are a threat to very idea of decentralized Bitcoin itself
- people who have lost money due to various hacking scams

The tide clearly seems to be turning

But then this division in opinion has always existed, hasn't it.. now that BTC has touched all time highs every banker is trying to take a swing at it..
That reminds me who are these people bad mouthing BTC.. The Bankers of course.. and isn't it obvious why!
who else.. the ones that would generally bad mouth anything that they do not use and understand.. .
About the mining cost and transaction costs, there are solutions available, not implemented on the BTC blockchain but when it becomes a need it will be ..

[Chachacoin17]

There has been an interesting change over the last few days.

A few days ago all users in here responding to my posts were extremely angry that I would even suggest that there might be problems with Bitcoin. But over the last 24 hours, there has been a change. Now I more and more see:

- people who agree we are heading into a bubble (altought different views on when it will burst)
- people who agree that miners are increasing transaction costs dramatically and are a threat to very idea of decentralized Bitcoin itself
- people who have lost money due to various hacking scams

The tide clearly seems to be turning

But then this division in opinion has always existed, hasn't it.. now that BTC has touched all time highs every banker is trying to take a swing at it..
That reminds me who are these people bad mouthing BTC.. The Bankers of course.. and isn't it obvious why!
who else.. the ones that would generally bad mouth anything that they do not use and understand.. .
About the mining cost and transaction costs, there are solutions available, not implemented on the BTC blockchain but when it becomes a need it will be ..

bitcoin today is really amazing the peole will also change basically because of the bitcoin bitcoin is really profitable and it is really rising each day amybe some people will had a great feeling that it can make everybody rich if we really focus on it bitcoin today is becoming more popular than yesterday because it really had a good feedback in all investors and it can really make them feeling comfortable in a financial terms .

[guesswhat]

Nothing to worry as these are temporary issues and I am sure that in the coming years we will have the concrete solutions for these issues. Yes, there is mixed opinion about Bitcoin and blockchain based cryptocurrencies but while focusing on positive part, the situation was worst 3 years ago and the half of the people who were calling it a bubble or Ponzi scheme are now getting involved with the Bitcoin and the perception is slowly changing so I don't see this as a big trouble.

I also think the same thing, the transaction speed problems can be solved with new implementations on the blockchain. Transaction fee problem can also be solved by the system coding. The real problem, bitcoin is not a bubble, but others should understand this before it's too late for them.

[Freegan]

The issue of bitcoin has undoubtedly become very controversial. Personally, I have heard comments in both senses, but to be honest I hear more negative comments than positive ones, but this does not surprise me at all, since whenever an innovation with enough potential to modify the rules of the game emerges, it is natural that the opposition arises.

[ipanks]

i think bitcoin is not changing and will still be bitcoin. i see there is many people now join into bitcoin and one of them have big money and i see they build community to be one big group to support them. from this, we can see that there is people that want to controlling bitcoin because if there is many big group with huge money, they have their own purpose and wants to do their plan to control bitcoin.

the problem with bitcoin will resolve and its only temporary. if people's feeling about bitcoin is changing then we don't need to get affect because bitcoin is something that we manage by ourselves and people can not interfere our decision. let them talk anything about bitcoin and we should stay with our purpose in crypto currency world.

[shahead720]

It's a rare that Bitcoin is a bubble or become a scam. we must know about  cryptocurrency and Bitcoin activities .So, Bitcoin will continue to chart the way forward and will never be a bubble. I think Bitcoin should be more listen to transactions. Transaction speed & fees these should be also more comfortable .here my opinion.
Wish the best.Good luck!!

[goaldigger]

Some people that is easily get nervous on the news or post they have read on this talk are getting panic about how they trade. Some people keep saying that the bitcoin is dead well in fact it regains its price now. Maybe they are still affected on the last weeks pump down.

[freightjoe]

Let me tell you my story:
A year ago when bitcoin was at $750, I told my relatives
about bitcoin and how it had potential of going up to $5000
or more and all I got from them was that it was a scam and
it had no technology etc.

Fast forwarding and now almost everyone of them ask about
bitcoin and if it is safe to invest in it or other cryptocurrencies.

The irony...

So basically you went to the casino and bet everything on red. Now you have won 3 times and have therefore doubled your value 3 times. And you use this to tell your friend that "betting on red" is always a good and profitable strategy.....

[Nilda]

When you start buying pizza for people in the office and just recently bought an iPhone X, impression changed dramatically. LOL

[freightjoe]

When you start buying pizza for people in the office and just recently bought an iPhone X, impression changed dramatically. LOL

So now the impression is of a person who first got lucky at the roulette, and are now pissing the winnings away. Great impression to make.....

[Kakmakr]

I would not be too worried about the odd shit poster or shill, trolling the forum with fud. Most of the threads are positive and we also see a increase in threads related to price and buying bitcoins in the newbie section. A lot of the people mistake volatility with bubbles and we are quite used to that.

The fees are only a issue if you are not using SegWit addresses for your transactions. ^smile^ < The people trying to sabotage Bitcoin, focus their attention on non-SegWit transactinos, because it is cheaper to spam that >

[freightjoe]

A lot of the people mistake volatility with bubbles 

That is true. They mistakenly think it is just volatility, where in reality it is a bubble.