bitcoin is most likely going to die, here is why...

[NewCryptonian]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

[1715161546]

1715161546

[1715161546]

1715161546

[1715161546]

1715161546

[1715161546]

1715161546

[NewCryptonian]

Perhaps bitcoin will dip into $4000 by the end of year.

[richshopgh]

Are you sure bitcoin is going to die because of these reasons. Bitcoin is the most unique techology that has ever happened to the finanncial sector. Bitcoin for striving for 9 years , It wont die like other inventions.

[NewCryptonian]

Are you sure bitcoin is going to die because of these reasons. Bitcoin is the most unique techology that has ever happened to the finanncial sector. Bitcoin for striving for 9 years , It wont die like other inventions.

by Unique you mean like Litecoin, Ripple, Ethereum, Dash, Zcash, NEM and the 100 other cryptocurrencies ready to go public ......oh wait how is bitcoin unique again?

[darkangel11]

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now.

Wrong. Not even 30% of people in the world know about Bitcoin. You see, you're prediction is nothing but a reflection of your attitude towards BTC. You think that since you and your friends know about it, everyone does as well. I advise you to check how many people have access to Internet, how many people have basic computer skills, you'll be surprised. I live in a small town and if I were to start asking around maybe one out of 10 people would know what BTC is and not even 1 in a 100 would own one.

[God]

Its more than obvious that this thread is only meant to be in here to create more FUD and to make the price drop, so do not pay attention to this guys

[Theo222]

Perhaps bitcoin will dip into $4000 by the end of year.

it never be happen bro i think the dip price of bitcoin will be 6500$ and then it will pump again because people will buy more bitcoin in this lower price.

[Cynooza]

I think bitcoin uniqueness lies in its genesis. Initially, it was adopted by IT-enthusiasts and libertarian who obtained a fair share of it and believe in it ideologically. That means that these people won't let anyone devour or destroy bitcoin.

[NewCryptonian]

Its more than obvious that this thread is only meant to be in here to create more FUD and to make the price drop, so do not pay attention to this guys

And yet you can't come up with good answers to the problems that I listed, if you can prove me wrong I am all for it. After all, I am open to new ways to make money regardless of how it is done, whether by buying virtual currency or buying a piece of poo.

[roadwell890]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

I agree with statement number two, now this bitcoin is not unique anymore, altcoin has a lot better than bitcoin
and if the BTC price goes up and down quickly, then surely it's just the act of the whales who are setting the price,

[pitiflin]

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.

Let me explain to you point by point:

1. There is undervalue or overvalue here. People who say that are retardedfucks. The market demand and supply determines the price. You have a very disturbing idea of how bitcoin works which by the way is not true.


2. Bitcoin is bitcoin and not an altcoin. Hence it is unique.


3. If they can outshine why haven't they yet, you cannot seriously compare bitcoin with alts. There's a reason why bitcoin is bitcoin.

Practicality: What's wrong with that? People use bitcoin if they want to, else they use fiat.

Safety: Bitcoin is safe on its own, its the people that's the main problem. They don't know how to protect their coins.

[farosa]

These reasons were when the price of bitcoin was 20k and when the price fell, everyone began to slander Bitcoin.
I think the reason is the fear of losing money in people. Also scam projects have a big effect on this and the number grows.

[Kez1817]

   No matter what will happen to bitcoin it will continue to rise. Even it will go back to $1 ,i am sure it will rise again. Bitcoin will never die or it will never become worthless as long as there are still people believe on it and continue to invest and patronized despite of bitcoin price drop. Those people has a wide knowledge about bitcoin and they have strong feeling that the falling of bitcoin price now is just temporary.

[KingScorpio]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

4. Dependence on Attention
All Cryptoindexes that currently matter and the media system is basically surrounded arround bitcoin, its easy to list a coin that has a higher marketcap and then quickly spread it.
bitcoin runs a dominance through attention, it is some kind of superior in the information war. but the problem here is this will become a very ugly and meaningless competition.

people have an ugly habit of passivly continue to enrich the established

[HabBear]

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

All that's required is for one endorsement by a country a company or a large group of people. Because the sentiment is the driver...and when people become rational about their sentiment they will jump in when they hear some positive rational news.

Almost everyone may know the world "bitcoin" but hardly any people know why the rest of us believe bitcoin is valuable, is better than something that runs our lives. Some education on that front could change sentiment, or the strength of it.

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

The fundamental difference between bitcoin and ripple is that ripple is private, owned by a company (of the same name). Ripple is not an open source network from which anyone can begin mining and participating. Ripple has a business plan, a marketing plan, they thrive on deals they make with financial institutions. When you buy ripple you're buying an investment.

Bitcoin is more open and free than currency.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

Evolution is real. The reality is that there is no other cryptocurrency...that is intended to be used as a currency (this eliminates Ethereum, Ripple, a few others)...that is more well known or has greater adoption as bitcoin. So, yes, other cryptocurrencies can evolve what Bitcoin offers. But cryptocurrencies also allow easier speed to evolve through hard forks. If Bitcoin is to become obsolete, we're no where close it yet.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.

It does actually make paying for something easier, but more accurately it makes transferring money easier.

If you need to pay a friend or a significant other, why must it take 3 days to get paid? It's ridiculous, it's "snail mail" in the age of email. It's 1980s technology. Inter bank transactions should be instant. Cryptocurrency offers that.

Companies like Venmo provide the illusion of instant payments, but if you wanted to move that money out of their app it would take 3 days..they're spotting people the transactions because they can keep control in the app.

I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

Bitcoin still represents a much needed better alternative to a system that every one of us must use.

There's incredible opportunity to improve upon the financial payments system. There's an incredible number of people that uses the financial payments system (like in the Billions of people). Those two things - opportunity and market - equal a good recipe for investment growth. For revolution. It won't happen over night, but it will happen...with Bitcoin or something that is derived from what Bitcoin started.

[siagh357]

Even if there is a technology change and people are no longer interested in bitcoin , it doesn't imply that bitcoin will die. The new cryptocurrency that will emerge will be modelled on bitcoins so it will still be relevant.

[Domanity]

I do not believe Bitcoin will die, even though there has been a technological change sometime in the future. Bitcoin will stay alive, and the demand will remain overwhelming.

[magneto]

Bitcoin will serve a purpose in the world for the decades to come.

Even if the massive adoption never comes, I think that it will at least serve as a niche asset for those who want to store their wealth privately and within a decentralised system, just like people are doing with gold at the moment.

Even if bitcoin doesn't get used in every day life, it won't die. I think that a lot of people will continue to use it as a store of value, as a global means of transaction, as a hedge against fiat inflation, etc. Besides, as a decentralised network, BTC can only be considered to be "dead" if no one uses it. If anyone uses it, bitcoin will continue to exist as a network and will hold value.

Yes, bitcoin is not backed by a government. But that doesn't mean that there is no value. I think that the comparison can be drawn between gold and bitcoin quite easily, in regards to how their value is derived - both decentralised, both limited supply, and has trust of a lot of people. Bitcoin can at the very least, take over gold's role and make it better. But with some luck, we may see bitcoin emerge as the whole internet's standard of payment due to its global nature.

[gentlemand]

Here is my prediction - in 3-5 years you will still own no coins, not that a plural will be affordable by then, and you will still be starting threads like this.

Have a good one.

[jamescater]

btc will thrive in the next two years