A little bit of doom and gloom is due

[tee-rex]

Well, actually not so much doom and gloom but rather a "scientific" theory for a constructive and meaningful discussion. I don't claim that the proposed theory is necessarily true but with prices going lower and lower it looks like speculation is gradually subsiding and this is what makes ground for this theory. The current decline and depreciation of cryptocurrencies doesn't look like a short-term trend, which will be over in a couple of months. This is the doom and gloom part. The scientific part is that it is a natural course of events given that we are close to what can be called informational saturation. In simple language, everyone already knows about crypto in general and bitcoin specifically. If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets. So what does it mean for us all? Essentially, that there is little hope for bitcoin to make new all-time highs any time soon or even just local highs beyond minor rebounds. Over the long term, we will be moving closer to the use value of bitcoin and other coins (if there's any in them in the first place), with the price closer to what it would be if there were no speculation at all.

Please prove me wrong but don't call me vile names at that.

This theory is really good and worth considering and to a large extent, its proven to be true and if everyone but its not as straight forward as it sounds because when it comes to human behavior, their attitude cannot be accurate predicted in the form of + or -.

This is true in respect to a single individual or a small group of individuals with varying personal traits and characters. But if we take large communities (and cryptocommunity is no exception here, alas), it is all as straightforward as it sounds, and people become very predictable as a whole. There is even a separate science behind this phenomenon which studies human behavior en masse, so to speak.

In simple language, everyone already knows about crypto in general and bitcoin specifically. If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets.

This is an exaggerated conclusion because its not possible for everybody to know about bitcoin as you might be concluding based on your environment and the people that surrounds you. Over here, I know of educated people that have not heard about bitcoin and if you mention what is being done with blockchain and its potentials, it sound as if you are living in another world. Also, not everybody who wanted to invest had done so. A lot of people are still held back for several reasons. those who are risk averse, those who are scared of the legal ramifications and those who are holding back because of religious connotations and until their believes or fears have been voided, they still remain on the other sides.

Yes, it is an exaggeration. You could even call it a hyperbole but I think you get the point I'm trying to get across. There is not plenty of really fresh money in the market, for whatever reason. And given the current state of the market, this is not going to change in the coming months.

[Raufjoze]

I think People have heard of bitcoin, but the risk of saving money is very risky and not quite feasible. Seeing the decline is not a lot of good risk to take for many people. I think the whole world does not know about crypto

[sindikat]

Well, actually not so much doom and gloom but rather a "scientific" theory for a constructive and meaningful discussion. I don't claim that the proposed theory is necessarily true but with prices going lower and lower it looks like speculation is gradually subsiding and this is what makes ground for this theory. The current decline and depreciation of cryptocurrencies doesn't look like a short-term trend, which will be over in a couple of months. This is the doom and gloom part. The scientific part is that it is a natural course of events given that we are close to what can be called informational saturation. In simple language, everyone already knows about crypto in general and bitcoin specifically. If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets. So what does it mean for us all? Essentially, that there is little hope for bitcoin to make new all-time highs any time soon or even just local highs beyond minor rebounds. Over the long term, we will be moving closer to the use value of bitcoin and other coins (if there's any in them in the first place), with the price closer to what it would be if there were no speculation at all.

Please prove me wrong but don't call me vile names at that.

There are many people in the world who do not pay taxes at all or underpaid. How do they keep their savings? All accounts are controlled by banks and governments. They can freeze the account at any time. Have access to your money from any country in the world and the ability to exchange bitcoins for any currency. Do you think these reasons are not enough to always be willing to buy cryptocurrencies?

[tee-rex]

Well, actually not so much doom and gloom but rather a "scientific" theory for a constructive and meaningful discussion. I don't claim that the proposed theory is necessarily true but with prices going lower and lower it looks like speculation is gradually subsiding and this is what makes ground for this theory. The current decline and depreciation of cryptocurrencies doesn't look like a short-term trend, which will be over in a couple of months. This is the doom and gloom part. The scientific part is that it is a natural course of events given that we are close to what can be called informational saturation. In simple language, everyone already knows about crypto in general and bitcoin specifically. If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets. So what does it mean for us all? Essentially, that there is little hope for bitcoin to make new all-time highs any time soon or even just local highs beyond minor rebounds. Over the long term, we will be moving closer to the use value of bitcoin and other coins (if there's any in them in the first place), with the price closer to what it would be if there were no speculation at all.

Please prove me wrong but don't call me vile names at that.

There are many people in the world who do not pay taxes at all or underpaid. How do they keep their savings? All accounts are controlled by banks and governments. They can freeze the account at any time. Have access to your money from any country in the world and the ability to exchange bitcoins for any currency. Do you think these reasons are not enough to always be willing to buy cryptocurrencies?

Frankly, I don't quite understand your point here. More specifically, I don't disagree that the governments are controlling the lives of the law-abiding community by various means including money. So far so good. But I can't grasp why "these reasons are enough to always be willing to buy cryptocurrencies". What does buying cryptocurrency give you if you still have to sell it later for the same dollars as you bought it with to get out of it any use that wouldn't be speculation? Other than that, the underpaid people usually don't have money to save as they live paycheck-to-paycheck. And as they are underpaid, it is more like half-paycheck.

[Qpeeps]

Well, actually not so much doom and gloom but rather a "scientific" theory for a constructive and meaningful discussion. I don't claim that the proposed theory is necessarily true but with prices going lower and lower it looks like speculation is gradually subsiding and this is what makes ground for this theory. The current decline and depreciation of cryptocurrencies doesn't look like a short-term trend, which will be over in a couple of months. This is the doom and gloom part. The scientific part is that it is a natural course of events given that we are close to what can be called informational saturation. In simple language, everyone already knows about crypto in general and bitcoin specifically. If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets. So what does it mean for us all? Essentially, that there is little hope for bitcoin to make new all-time highs any time soon or even just local highs beyond minor rebounds. Over the long term, we will be moving closer to the use value of bitcoin and other coins (if there's any in them in the first place), with the price closer to what it would be if there were no speculation at all.

Please prove me wrong but don't call me vile names at that.

This is actually a very good analysis of the situation. I would merit it but I am barely a Junior Member with zero sMerits..
What's wrong in this analysis is that it is not true that "everybody knows about Bitcoin" and even less that "If they wanted to invest in crypto, they already did so" - for most of the people buying Bitcoin is still a too complex task to achieve because of the tech. I have personally met so many people who would have liked to invest in Bitcoin but they are technologically impaired and they have no idea how to do that.
There will be other waves of new people joining the party. We will have new ATH, even though this might take a while. But sooner or later, your analysis will be 100% correct.

[Pursuer]

In simple language, everyone already knows about crypto in general and bitcoin specifically.

that is wrong.

If they wanted to invest in crypto, they already did so. If they didn't, they wouldn't, as simple as it gets.

that is even more wrong.

why? it is simple, a lot of people have not even heard of bitcoin. they may have seen the name, saw some article online, on TV,... but they never even paid attention to it. it was something they passed by. and there are a lot more people who know about it, read the articles,... but they didn't invest in it because they were afraid of its future. for instance instead of reading what bitcoin is they read what Warren Buffet said about bitcoin so they decided not to get involved with bitcoin.

this will change in the future. the same people will start learning more about bitcoin and know how bullshit 99% of the articles about bitcoin that they read were. and the rest who haven't heard about bitcoin will know about it and that way the adoption increases.

So what does it mean for us all? Essentially, that there is little hope for bitcoin to make new all-time highs any time soon or even just local highs beyond minor rebounds.

even if we assume that no new person is going to adopt bitcoin (which is simply not true) the same investors are still investing more money in it so in a way price will rise even there were no new adoption!

Over the long term, we will be moving closer to the use value of bitcoin and other coins (if there's any in them in the first place), with the price closer to what it would be if there were no speculation at all.

there are no other coins. there are shitcoins and then there is bitcoin. the value of these shitcoins are never going to be even remotely close to bitcoin's because they are shitcoins!!! and you can never remove speculation, it will always exist as it exists in any other object out there from currencies (fiat) to goods.

[tee-rex]

Replying to all of you guys who are eagerly jumping at my statement about everybody having already heard of bitcoin and having invested in it if they had chosen so. Obviously, it was a hyperbole (pronounced haɪpɜːʳbəli), that is, a deliberate exaggeration for making things easier to understand and more clear to see. Of course, infants and newborns don't know about crypto and can't invest in it. But that's not about them. How many people are investing in anything, not just crypto? Most people are living paycheck-to-paycheck and many are living on debt at that. They simply can't invest in anything due to sheer lack of money. So they are out of consideration for pretty apparent reasons.

Now we are left with those who have money and are willing to invest it in some asset. And I speak of these people exclusively. Metaphorically speaking, it is not about demand, it is about effective demand, in this case it is about people who actually have financial means to invest in bitcoin and friends. Rest assured these people have definitely heard about crypto and already made up their mind whether to invest in it or not.

[tanjilrifat]

If the prices constantly moved favourably.So there is nothing to worry about it.Most of the time whales could be the reason who is manipulating the rates for bitcoin in theory and thus it doesn’t matter if the new investors are coming along the way.

[Kprawn]

Bitcoin is like a film trilogy, when the first movie is shown, people goes gaga over the movie and they cannot wait for the

next movie in the trilogy. When they show the next movie, some people heard of the movie and they have to see the first

movie to get the story, so there is a new injection of money into the trilogy. Bitcoin is only at it's 2cnd movie phase now and

people are already working on the mini series.    So, when there is a new spike in the price, new people take notice and

we see more people buying Bitcoin again.  

[ghosong]

I am sure there are still many people who do not understand clearly about bitcoin and its purpose, but they invest in bitcoin because they follow trends and are tempted by the results without knowing the risks. If prices continue to move, there is nothing to worry about because it can attract new investors to invest in Bitcoin.

[Jannn]

Well, by now this gloom will probably have evolved to pure terror when looking at the horrific state of the market. Sometimes I can't believe how much damn money I've lost, but I am still optimistic that one day the utility value of cryptocurrencies will be recognized for its incredible potential and we'll see a dramatic recovery. I can be that will take several years though.

[tee-rex]

I am sure there are still many people who do not understand clearly about bitcoin and its purpose, but they invest in bitcoin because they follow trends and are tempted by the results without knowing the risks. If prices continue to move, there is nothing to worry about because it can attract new investors to invest in Bitcoin.

But how many people actually understand clearly what bitcoin is about and what purpose it serves? Many have read the WP written by Satoshi, in part or fully. He says that he wants bitcoin to become a means of payment, and this is how it had been used for the first couple of years even if that use was limited and insignificant. But later it turned into a money-making machine but it doesn't look like it's got a lot closer to its destination point.

People are investing in bitcoin to make profits. Well, at least this is what they hope for, to earn money. But isn't investing about that thing exactly, making profits? In this manner, what does understanding or misunderstanding the true purpose of bitcoin change in the way things are in the cryptoverse?