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

[Apes]

I think bitcoin will never die and only people who panic and do not understand bitcoin for those who say bitcoin will die .. as long as there are investors and as long as there is bitcoin internet network I think will last long and lasting because bitcoin still needed many people .. so I think bitcoin will last a long time and will never die because bitcoin is a blessing for those who use it ..

[estupido]

I understand what you say but I also hope you realize that not everyone knows bitcoin, and cd is still used now.i think bitcoin never die

[Msworld83]

Bitcoin will always be the king in crypto no matter way .

The uniqueness of Bitcoin to other cryptocurrency is it algorithm and it's method of mining why it can't be hack like others , because it will cost more than what the hacker will get to get it hack on like reset hack of bcn, btg etc .

On the aspect of can't move , just forget about that cos btc is has it's time to dip and moon base on it algorithm and if you read it chart and understand you will see what am talking about except you don't know it's history and how it work

Just say you don't believe in it ideology and simply because of this you assume it will never work , but as you said last six year you heard about Bitcoin and here it is today and am sure in next six years to come you will be surprise with it performance.

[PeRo]

Bitcoin has a good price and market cap right now, it doesn't seem that it is dying. The price might even rise up soon. Bitcoin is unique, it is the first cryptocurrency and it is the most accepted one, shops who accept crypto mostly accept Bitcoin and not some other coin. And what does make other coins unique? Nothing, they judt copy Bitcoin.
Why didn't a cryptocurrency with better technology already arrive? Tell your empty tales elsewhere.

[crptotrader007]

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.

See there might be a possibility that whatever you are telling is right but what I think is the the most important difference between Bitcoin and any other is coins when it was invented and who invented it.Satoshi nakamoto is a brand and this brand has his product called bitcoin.and that brings the faith and trust  of people.Trust is something which is very important in trading.

[Pourmeacup]

you are saying a lot of bullshits. Is pretty evident that you don't know what are you talking about.

[anhzaibro]

If you die, the electronic money market will collapse. What do you think about that? I think it is impossible.

[ofelia25]

I am in doubt with this, I don't think that it would happen, bitcoin will not die no matter what it is just in our mindset since we are panic because of the declining of the price right now but for sure in the coming months it will recover soon.

[notaek]

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.  

Then you need to fact-check yourself more on that, because you are wrong by many folds.

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. -snip-

Wrong. Even if Bitcoin is recognized by nearly 60% of the world's total population, thanks to its recent surge, but majority of them are in it as private buy and hold investors who want to capitalize on its potential future price increase. Talking about FOMO and people being rational, you need to look back at the "FANG" stock charts on how they went down and recovered from the 8 year long bear market.

2. Bitcoin is no longer unique. -snip- Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

Wrong again. Bitcoin is the underlying currency, the motherlode of Blockchain technology. If you don't think Bitcoin is unique then you might as well quit saying unique to any other altcoins as they are directly adopted and influenced from Bitcoin.

You also seem to not know about Ripple to begin with. They key differences between Bitcoin and Ripple:

• Bitcoin is decentralized, Ripple is completely opposite.
• Bitcoin is mineable, whereas Ripple is premined and 60% of it are owned by the team.

Do I need to state more?

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.

As I stated earlier, all altcoins so far are inspired from Bitcoin with a few tweaks here and there. At the same time, Bitcoin is evolving as well; for example: Implementation of Lightning Network to facilitate payments instant, Implementation of Schnorr signatures etc...

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.

That's due to human error. Don't blame it on Bitcoin if someone isn't careful with their private keys. The whole blockchain technology wouldn't exist by now if there's a technical glitch/loophole anywhere.

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.

The underlying reason of making this post is because you're frustrated with the bear market.

[Duzter]

Some people always expect the market to be bullish. If that's happening then it is not the true growth, it can be of cryptocurrency or something else surely there will be some fluctuations in between which is the way of perfect growth. I believe Op is one among the people who without understanding the market just expect price growth alone.

[notaek]

Crypto currency might serve a purpose in the future, but that doesn’t mean bitcoin will. Another crash is coming I am afraid. New cryptos will wipe out bitcoin, it’s going down to $1

"Crypto currencies" aka altcoins are all trash. They don't serve any purpose besides helping the developers and early adopters to make a quick buck in a few days.

Another crash is coming I am afraid.

Its obvious. We are clearly in a downtrend right now.
Market doesn't just jump suddenly without a bull reversal. We are yet to reach that point.

Just like new computers constantly replace older ones.

Don't compare apples to oranges bud.

Some people always expect the market to be bullish. If that's happening then it is not the true growth, it can be of cryptocurrency or something else surely there will be some fluctuations in between which is the way of perfect growth. I believe Op is one among the people who without understanding the market just expect price growth alone.

Yes, OP needs to learn to embrace bear markets.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

[Core.BUSTER]

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.

Yes, I am not believe bitcoin will die, bitcoin always alive and rise and we know bitcoin now is down but this is only temporary  cause bitcoin always rise to give us a better life in the future.

[ajiejot]

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

I don't believe that it will dip into $4,000. It will only stay above $5,000 at the last quarter of this year. Around November or December, it will start to rise up again. Let's hope that the manipulation of Bitcoin will stop, there are some people always telling that there is manipulation happening now.

[notaek]

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

I don't believe that it will dip into $4,000. It will only stay above $5,000 at the last quarter of this year. Around November or December, it will start to rise up again. Let's hope that the manipulation of Bitcoin will stop, there are some people always telling that there is manipulation happening now.

Its not a manipulation as they say. Its obvious that we are in a bear market right now due to the fact that the percentage of involvement now as opposed to that in December 2017 decreased by many folds.
The RSI and bearish divergence proves that.

Until and unless we reverse this trend we are and will be going down and might even break the last resistance for a while.

[Lalafell]

I think it never be die.Sometimes its price go down.Bitcoin price are not stable in the market.When it price go down people were say its it will die. 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.

Bitcoin is unstable sometimes up and down but this is not reason to say that bitcoin is dead. Fear and scared is one thing lose faith in bitcoin the reason why you lose your money we need to be positive and optimistic that bitcoin will continues rise and the project of bitcoin is not scam.

[Nhor1011]

    Bitcoin is most likely to die for the mind of those who didn't believe it and has no enough knowledge about bitcoin. Bitcoin has a strong foundation that cannot easily broken. It is always decreasing but always rise. Bitcoin keep strong coins in the market despite of the current downtrend and a lot of FUD but i believe bitcoin will recover soon no matter what happen.

[ogabonny]

bitcoin is more signs of a recovery than is dying.The market is in green

[Ronaldcoin2017]

    Bitcoin is most likely to die for the mind of those who didn't believe it and has no enough knowledge about bitcoin. Bitcoin has a strong foundation that cannot easily broken. It is always decreasing but always rise. Bitcoin keep strong coins in the market despite of the current downtrend and a lot of FUD but i believe bitcoin will recover soon no matter what happen.

Yes I agree on that , the people who didn't believe on bitcoin is already think that bitcoin will die. But to those who believe on bitcoin they maybe think that bitcoin will soon rise and maybe most of this believer are now having the opportunity of buying so many more bitcoin and hold it for good.

[wengden]

It is not gonna easy to die. For that reasons are not enough that bitcoin could die. For almost 9 years bitcoin survive. Again and again this topic like this always in the forum, if im not forgotten,last 2015 theres also a topic like this. But see  now? 4 years already but bitcoin is still alive.

[RawDog]

OP just leave if you don't like crypto world

Bitcoin dead - crypto world very alive.  Bitcoin is leaving quickly.  Only 34% of crypto is bitcoin.  Will be lower than 5% in another two years.  Bitcoin has no function any longer.