Blockchain technology is not a trend

[booli8]

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.

[mrtryonebiggums]

Couldn't agree more with your sentiment OP and it is a tragedy that people have to judge a new asset based on how they did with it. People are quick to yell scam when they lose money when in fact Bitcoin is not a scam, and couldn't be further from it. That really grinds my gears, I wish people would judge Bitcoin on its merits and their own basis rather than listening to other misinformed individuals.

[HatDen]

And after this research we can understand that price will go higher when it will be trend

[magneto]

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.

[pehatas]

Now only a small audience of people knows about the cryptocurrency and BlockChain technology, and how to use this technology is known to even fewer people. That is why, as soon as this technology will be more famous, we are waiting for takeoff. The potential is huge.

[samcrypto]

Most of the people knows about the price value of a cryptocurrency but never understand its true technology and this is why many people are panicking. If this technology fully understand by the investors I’m sure we will go high as expected.

[The_Dark_Knight]

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.

You are correct in your analysis, how many people thought that internet stocks were a trend that will soon banish after the crash those stocks suffered and yet the market recovered and the huge crash is now nothing more than a temporary and small decrease in the price of the companies that survived, look at how small the crash caused by mt gox looks now, in ten years the current crash will look very small too and all of those people will regret not holding their coins.

[Lorence.xD]

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.

You are correct in your analysis, how many people thought that internet stocks were a trend that will soon banish after the crash those stocks suffered and yet the market recovered and the huge crash is now nothing more than a temporary and small decrease in the price of the companies that survived, look at how small the crash caused by mt gox looks now, in ten years the current crash will look very small too and all of those people will regret not holding their coins.

Yes, you are right Blockchain is not a Trend, however a lot people ignored this reality, some are not even aware or don't have the patient to learn the crypto currency market, this mostly happened to the newbie investors because they want to have quick money return after investing Bitcoin without proper knowledge how the system work. The market movement attract people special during the time when Bitcoin price goes up to 19-20K, the euphoria posted everywhere...then come the drop to 50% of the price, it change the appreciation for Bitcoin....Scam...scam..Scam... this is the reality with people.

[squog]

Too true... But then again, can you blame them? They joined the crypro currency game only to make a quick buck. I know it hit us hard but then again we don't view it as such. We who are in it for the long run actually understand what crypto currency stands for and we hold on to our coins as tightly as we can.

[baconlike]

Today there are many applications that use block chain technology. It is really the trend of the technology it applies to the field of education hold table for students, apply to many different industries.

[omitusaf]

This is the reason why I tell people about blockchain technology instead when we're discussing bitcoin and cryptocurrencies. There are many benefits of blockchain, but people are only interested in making money without really understanding how things work.

[MedicineVNT]

I think blockchain is the trend of the times, if today technology technology development, blockchain technology is the trend is applied in many fields of health education they are very good.

[Sowik]

Everything that happened with Bitcoin's price might be new to most of the Bitcoin "investors" as they are not familiar with financial markets but this actually has happened before and still is happening not only with Bitcoin but with stocks as well.

[wantjokull]

Very much this is there reality. I mean people have lawyers jumped in the crypto with intentions of earning money and nothing else. If they would have started using the blockchain technology or would have been looking after its development over public ledger then things could have speeded up and we could have seen big surprises along the way. So yeah I am pretty much sure that what we are seeing here is just the public with two type one those who are actually trying to bold trend about the blockchain and another one is people who are just here to make money. 

[Maestro75]

Most of the people knows about the price value of a cryptocurrency but never understand its true technology and this is why many people are panicking. If this technology fully understand by the investors I’m sure we will go high as expected.

Do not blame those who do not know how the blockchain technology works because it is not an easy technology to understand. Let us enjoy the monetary aspect of bitcoin too as we learn to master how the technology works.

[Palmerson]

This is the reason why I tell people about blockchain technology instead when we're discussing bitcoin and cryptocurrencies. There are many benefits of blockchain, but people are only interested in making money without really understanding how things work.

Do you want to change the situation? Not try. You're not gonna make it. Most bitcoin users will never be interested in the features of the blockchain. But they don't need that. They are only interested in the final product-bitcoin. I think it's the right thing to do. Just because I watch TV every day doesn't mean I have to understand how the TV is arranged inside or how the TV signal is transmitted.

[jokowi]

I think blockchain is the trend of the times, if today technology technology development, blockchain technology is the trend is applied in many fields of health education they are very good.

In my opinion, it is not simply a trend of the times, it is also an indispensable development trend for people to look forward to future. The application of blockchain is very large and its benefits are infinite.

[charlotte04]

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.

I just know it that people just got in crypto just because some people told them that they could get higher returns without even studying about the things they are going to invest in.

[mu_enrico]

<...>

I just hope that the last minute investors know how to HODL. Bitcoin price surely will return to $20K and soar above that price, but the timing is unpredictable. Very sad to see how people lost their savings because of this crash. But, it's just how real world works.

HODL! 

[pellor mas]

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.