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Author Topic: Blockchain technology is not a trend  (Read 758 times)
enhu
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July 27, 2018, 01:58:04 PM
 #61



I can't blame them for shouting scam after Bitcoin, the news about bitcoin scam is escalated every time and I see it in our local TV news but the good thing what blockchain can do doesn't even reach into their monitors. When a long time friend asked me how am I doing, I told him I'm into cryptocurrency trading this time and he without even thinking he could offend said "the bitcoin pyramid scam?"
 
Good thing I defended myself by telling him he has no idea about bitcoin and blockchain.

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July 27, 2018, 02:10:51 PM
 #62

Now only a small percentage of people know about cryptocurrency and BlockChain technology, and how to use this technology is known by fewer people. That's why, as soon as this technology gets more popular, we're waiting to take off. The potential is huge.

 We may have different opinion on the above topic, it maybe said that Blockchain Technology is not a Trend but its instead it is like a Data Bank of  all the information we need in the crypto digital transaction, Yes, i feel sorry how people react on the entry of crypto currency into the market, its only a portion of general population by each country who happen to be an investors into crypto market. Let wait for the total acceptance of crypto globally.

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July 27, 2018, 02:30:42 PM
 #63

Now only a small percentage of people know about cryptocurrency and BlockChain technology, and how to use this technology is known by fewer people. That's why, as soon as this technology gets more popular, we're waiting to take off. The potential is huge.

 We may have different opinion on the above topic, it maybe said that Blockchain Technology is not a Trend but its instead it is like a Data Bank of  all the information we need in the crypto digital transaction, Yes, i feel sorry how people react on the entry of crypto currency into the market, its only a portion of general population by each country who happen to be an investors into crypto market. Let wait for the total acceptance of crypto globally.

Not every people in other countries does really know about how the block chain works, maybe cryptocurrency is viral but the technology behind cryptocurrency is not known very well.

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July 27, 2018, 02:37:19 PM
 #64

Blockchain technology in terms of security, privacy protection, removal of some intermediary, to solve part of the lack of trust, is a technological advancement with realistic meaning!
The trend of blockchain is definitely based on the ability to solve some of the problems that exist in our real life and create value.
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July 27, 2018, 02:58:16 PM
 #65

You are wrong, blockchain technology is now the trend of the world economy, almost all economies are exploring this technology.
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July 27, 2018, 03:14:56 PM
 #66

Talk to an average person, and 9.9 times out of 10, they’ll have no idea what blockchain is, with the exception of maybe Bitcoin. If they do know, it’s surface level details at best.

Well you are correct, but why do need to learn about blockchain though. This is a niche market, so not everyone would be really interested on the technology behind. But what's on front, which is Bitcoin.

When a trend emerges, some people don’t want to wait to see how things play out — especially when there’s money to be made. Perhaps this story can be an example:

Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.

Then the price dropped by 50%.

By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.

I'm sure that who lost faith, are investors who jumps in and think that they can make money in short amount of time, Which didn't happen.

Unfortunately, that patience was not widespread. Many people who jumped into the industry looking to make a quick buck ended up jumping back out at its lowest slump. They chalked their ill-timed participation as the fault of blockchain being a “trend,” opposed to looking at the long-term nature of what it means to build something globally impactful — and the rising (and falling) tides that come with such a massive undertaking.

This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.

Yeah, they jumped out because they don't understand how the market works but it has nothing to do with blockchain though. And I have to disagree that everyone should understand the tech. Just look at the smart phone industry, do users or investors understand how everything works at the background? Nope, as long as they know that the can call someone and "see" the face on the other line, they don't care how it works, because its the "real usage in real life" that they are concern with. If Bitcoin can be used used as a mode of payment and very quick confirmations, they wouldn't bother understand the technology behind. IMHO.

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July 27, 2018, 03:18:44 PM
 #67

I think that the biggest differentiating factor between bitcoin and other "fads" is that bitcoin actually has a lot of backing from adopters that came before the pumps of 2017. As you mentioned, most people jumped onto bitcoin as a speculative investment in the middle of 2017 looking to make profits.

And most of these people inevitably closed their positions as the market plumetted. The earlier adopters that know what they were doing expected the bull market to end sooner or later, and as a result, did not panic buy or sell.

It's clear to me that bitcoin is going mainstream over the long run, but these periods where the market sentiment is bullish/bearish will always happen, and prices will act accordingly. In a bull makret, it'll always mean irrational investors trying to buy in at an unreasonable price looking to make a profit. But if you actually understand what bitcoin is for - you realise that it's something for the long run instead of making profits in the short run.
this has actually existed since a few years back but became a trend when it is already a lot of feel the benefits so that they try to switch to this technology, if at the beginning of time its emergence may still not believe the public and the internet is still not widespread in some countries, with social media everybody knows and tries to fight the fate here.

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July 27, 2018, 04:05:10 PM
 #68

That's the common problem of the people, once they see that something is in trending, they would jump just because a lot of people are spreading FOMO about it without even trying to do some proper research. They see Bitcoin as an investment to gain a lot of money and not a technology that would change a life of the masses. It's really annoying sometimes because they blame it in Bitcoin. Let's just hope that in the next bull run, people are well informed of what they are trying to join.
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August 01, 2018, 10:04:26 PM
 #69

If only 1 person out of 10 knows about bitcoin and we come this far what will happen when half of 10 knows and have some crypto?
Bitcoins isn't a trend outside this community, but it's becoming. Few years ago you could see something about bitcoins very rarely, and when you see it in most cases it's domed fraud, or how bitcoin is good for illegal stuff, but now we have different situation. Crypto is present in many news, it's a subject of many TV shows, maybe not a lot but for sure more then before and it's growing.
If it's growing it's better you to get in before. This topic and most of the comments should be enough convincing for people to invest some money in crypto.
Certainly it is still the trend for the future of electronic finance. Even if there are bad hackers, about electronic money, stability is good. However, most of the investors are not experienced and new investors are often affected by the bad news. But one thing for sure is that the future is even stronger, and now people are still investing heavily.

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August 01, 2018, 10:10:52 PM
 #70

I'm surprised that it's not as wide known as I thought it would be at this point in time. Bitcoin was everywhere last year, on the news, work, school. I figured by this time it would be a household name. And I don't understand how losing money would cause that, so I don't think that's the case.

I just think the majority of people do not follow world events.
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August 01, 2018, 10:41:17 PM
 #71

I do not think that . At present the world is very interested in this technology. And this will become a trend for this market to thrive.
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August 01, 2018, 10:43:41 PM
 #72

The statistics are changing very fast, 7 percent or more of Americans already use bitcoins, certainly more know about it. The figure in some advanced climes show similar trends
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August 01, 2018, 10:54:11 PM
 #73

   We are now in a computer generated world and i believe that people already know about blockchain technology and how it works. Maybe those who doesn't know yet are those people living in remote areas and has no idea or knowledge about bitcoin and it's technology.
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August 01, 2018, 11:10:48 PM
 #74

If people understood blockchain technology and bitcoin very well the volatility wouldn't be so huge. People would invest with some understanding, patience and caution. Some of the projects utilizing blockchain technology should find a strategy to teach their investors about blockchain to give then a clear understanding of what they are actually investing in.
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August 02, 2018, 03:45:02 AM
 #75

It is indeed not a trend yet because the people are not yet trusting it because they are waiting for the government or their country to accept it and legalize it because that is their assurance that it is best to have a blockchain technology but as long as the government or a country is not yet accepting then they will not treat as a trend.

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August 02, 2018, 04:34:14 AM
 #76

Talk to an average person, and 9.9 times out of 10, they’ll have no idea what blockchain is, with the exception of maybe Bitcoin. If they do know, it’s surface level details at best.

When a trend emerges, some people don’t want to wait to see how things play out — especially when there’s money to be made. Perhaps this story can be an example:

Remember the massive excitement Bitcoin last year? Speculative investment exploded. As the price soared, it gained public appeal. And legitimacy. And a lot of people made a lot of money, very fast.

Then the price dropped by 50%.

By the time Bitcoin’s value plummeted, it seemed like most people had lost faith. But that “lost faith” reaction really only happened among those who had jumped into space at the last minute, hoping to enjoy Bitcoin’s climb. People with knowledge of blockchain and cryptocurrencies saw this coming— in some way, shape, or form. Active participants in the emerging industry were hardly surprised by the plummet in price that followed. These are “growing pains” that arise with any new technology.

Unfortunately, that patience was not widespread. Many people who jumped into the industry looking to make a quick buck ended up jumping back out at its lowest slump. They chalked their ill-timed participation as the fault of blockchain being a “trend,” opposed to looking at the long-term nature of what it means to build something globally impactful — and the rising (and falling) tides that come with such a massive undertaking.

This is why, as markets begin to recover (and they already have), and new variations of blockchain technology cement themselves into our everyday lives, everyone from general consumers to high-profile investors need to have a firm understanding of the tech.

We don't need to be trending becaue its not the viewers who decided to what the market will do but it was the investors,even millions people knows crypto but they dont invest even a cent so what is the sense?

We need investors ,its better whats the count we have now because for sure all of this are investing,even if some dont put money but still they put their time to the community

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August 02, 2018, 05:05:11 AM
 #77

When it comes to Blockchain technology, you can see that all three types of beliefs are not fully manifested or disappear entirely. Only trust in the individual (e.g., Bitcoin users or Ethereum for transactions) is expressed at the beginning. For example, when the Ethereum system was hacked, the user asked Vitalik Buterin to respond to this. Or a rumor that Ethereum's father had a car accident and that the market capitalization was blown over $ 4 billion. Although these issues are theoretical, a Blockchain system such as Bitcoin or Ethereum would not be able to afford the future. It is unstable and volatile according to market sentiment.
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August 02, 2018, 05:47:35 AM
 #78

Who says its trend, its not and it wont be unless and until it gets into the real world application. Say fro example, blockchain tech is being sued for the public services, railway stations, bus station etc where machineries are being ran over the blockchain. This will be the time when people will at leats have the general idea about what it is and why it is there. Also, we know about the blockchain because we are using crypto currencies for our daily works online, this way when people start using it then they will come to know about it. Thats how it works, unless and until you dont utilise something then you dot know anything about it.


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marilyngroom
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August 06, 2018, 02:09:35 PM
 #79

Blockchain is used mostly as a word for people who are afraid of using the term Bitcoin or crypto currencies since they are constantly talked about in a negative way in the media. It gives them a way to talk about how it works, without having to talk about "made up money." It's BS.

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BitcoinTurk
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August 06, 2018, 02:18:56 PM
 #80

I can say that this is a downward trending effect that we have been doing recently. When many people stepped in this sector, they had entered with the goal of profit rather than technology. With the downtrend that started afterwards, many people made a switch to cash again, and this technological sense also affected the cryptocurrencies. The old popularity has not been reached, but transactions are now confirmed more quickly. I also think that we should not forget that each negative factor is another positive factor.


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