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Author Topic: Maybe BTC wont last because NO ONE really profits from it...  (Read 269 times)
Jetblack01
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July 04, 2018, 08:41:29 AM
 #1

I look at BTC as the greatest thing for our world.  We need digital currency.  It makes sense.   But,  we live in a world where we are driven by greed and profit.   So with that said....

If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.  Because at the end of the day, if that 'ALT COIN" makes enough money they can continuously push their "ALT COIN to surpass BTC.   

I dont see anyone financially backing up BTC.   
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot


PLus, people are shorting BTC all day long.  It sucks, because im the "buy during the dip" guy.


my opinions only.... im ready for the backlash
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July 04, 2018, 08:52:14 AM
 #2

Thanks for your honest opinion. The economy of the world is indeed drive by the greed and the potential of future profits. However, Bitcoin is the pioneer and true crypto currency currently available in the market. Majority of the altcoins are not qualified to be called as a crypto currency because they are not decentralized. For example, we can consider both Ripple and EOS. Both of the currencies are centralized in nature and they can ban your account for whatsoever reasons, just like EON did few weeks back. That is not possible with bitcoin. Once you have bitcoin in your wallet, only you are the supreme owner of that bitcoins and no one else can claim the ownership on that.

Likewise, every coin has their own pros and cons. Also when you are talking about profit, let me tell you that all early adopters of bitcoin are making huge profits even today. The ones who aren't making profits are the ones who had adopted bitcoin during late 2017s out of pure greed. I personally scored bitcoins when it was only standing at 450 USD. You can easily calculate the percentage of profits I am already in. It all depends on your adoption time.

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July 04, 2018, 09:07:48 AM
 #3

I look at BTC as the greatest thing for our world.  We need digital currency.  It makes sense.   But,  we live in a world where we are driven by greed and profit.   So with that said....

If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.  Because at the end of the day, if that 'ALT COIN" makes enough money they can continuously push their "ALT COIN to surpass BTC.   

I dont see anyone financially backing up BTC.   
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot


PLus, people are shorting BTC all day long.  It sucks, because im the "buy during the dip" guy.


my opinions only.... im ready for the backlash

Actually the insiders of crypto world and financial traders doing enormous profits with bitcoin, especially during the January bubble. The ones who got loss were all the newbie entering the market to get moon.
An alt coin could rise over bitcoin? Why not. But btc is like a standard, a value reserve as gold, a measure unity, so its position is pretty strong imo.
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July 04, 2018, 09:13:48 AM
 #4

I look at BTC as the greatest thing for our world.  We need digital currency.  It makes sense.   But,  we live in a world where we are driven by greed and profit.   So with that said....

If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.  Because at the end of the day, if that 'ALT COIN" makes enough money they can continuously push their "ALT COIN to surpass BTC.   

I dont see anyone financially backing up BTC.   
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot


PLus, people are shorting BTC all day long.  It sucks, because im the "buy during the dip" guy.


my opinions only.... im ready for the backlash

The main point you forget about bitcoin is that it is not controlled by any one and it is accepted by 99% of the crypto world. Majority of coins are valued through btc. The Altcoin which you are telling is controlled by their developer and if the developer abandon their project then automatically the coin value can go to zero also. But in btc case value going to zero is nill to possible as it is accepted by everyone and it is not controlled by anyone.

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July 04, 2018, 09:16:13 AM
 #5

your problem is that you think bitcoin was created so that you can make money/profit from it which is why you think if there is no profit in bitcoin or there is more profit in an altcoin bitcoin will die!

but that is wrong. bitcoin is created to be a decentralized currency and when it does that it stays alive and strong. and the fact that it is rising and giving you "profit" is because it is a currency and majority of its adoption is because of that.














 

 

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July 04, 2018, 09:17:48 AM
 #6

I do not think I agree with you, the limited number of bitcoin makes it always high.
Altcoins are copies of Bitcoin and will not overtake it soon unless bitcoin technology delayed as high transactions fees "Lightning network failure."
You talked about greed, but people still make profits from Bitcoin. These people will push demand to standard levels. With limited coins and high demand, Bitcoin will always be number one.
Maybe if there are two or three altcoins, It will outperform Bitcoin, but greed is the one who makes more than 1,000 altcoins and is therefore always less than Bitcoin

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July 04, 2018, 09:20:16 AM
 #7

I dont see anyone financially backing up BTC.  
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot
Those deals are merely deals from owners to another owner of an altcoin and the fact that NO ONE USES THEM TO BUY ONLINE is there. I see bitcoin being used by people to pay for goods and services online(particularly in marketplace section of this forum) but I rarely see people buying goods and services using altcoins such as Ripple and bitcoin cash. I also wouldn't call altcoins real currency if I were you because they are used merely as a speculative tool, not as a currency.
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July 04, 2018, 09:24:27 AM
 #8

Nonsense, many people have benefited from bitcoin. Just like pumping altcoin, BTC investors also do pumps and they also sell at high prices to make a profit. If you say BTC does not bring any benefits, I think it's just your jealousy over the lucky ones.
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July 04, 2018, 09:27:32 AM
 #9

Nonsense, many people have benefited from bitcoin. Just like pumping altcoin, BTC investors also do pumps and they also sell at high prices to make a profit. If you say BTC does not bring any benefits, I think it's just your jealousy over the lucky ones.

OP is a newbie and just created a new account. So i am sure he would not know anything about btc or may be new here so would not know have even invested till now. Considering the last 6 months yes the market have not supported well as price has fallen only but does not mean it has not benefited people.

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July 04, 2018, 09:27:41 AM
 #10

All these so called crypto deals are made by centralized companies/organizations that hold majority of these tokens, they have to do it, be it for either expanding the project or increasing their own profits and I don't see anything groundbreaking have happened yet, more of niche deals, not something on a global scale. And if you take Bitcoin Cash, wouldn't use the word owners, yeah the one's with major stakes are promoting it, setting up Bitcoin Cash fund, from own pocket/donations, social media advertising/marketing and if I am right the only ecommerce deal they had is with purse.io.

If you compare these cryptocurrencies, isn't Bitcoin different. Not a company and there is no central figure/owners to represent Bitcoin in meetups or cut deals. I do agree that a collective approach could be taken to advertise/promote Bitcoin on a large scale.

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July 04, 2018, 09:28:38 AM
 #11

Your idea is still under if, more than 1500 coins on coinmarketcap with their investors still existing behind them with 2 or more years and they are yet to get the volume to surpass btc and even some of their prices had gone so low from competing with btc. They should just stop competing with btc and work on increasing their trade volume.

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July 04, 2018, 09:31:50 AM
 #12

Bitcoin has survived and when all other hype tokens are gone, BTC will still be here, actually, BTC is not only intended for profit taking, so when do not see it from profit taking angle only then comes the beauty of BTC. Very reliable no central control, no one to arrest should it go either north or south in price movement.
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July 04, 2018, 09:38:10 AM
 #13

The moment you register your account here you just aim for profit and this community will help you achieve that goal.. Saying those words don't compliment at all your appearance to this forum.

With a simple math, it would surely explain to you that btc has a great profit. Buy BTC at price of $6k then sell it at price $9k. The difference is what we called profit..
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July 04, 2018, 09:45:07 AM
 #14

I look at BTC as the greatest thing for our world.  We need digital currency.  It makes sense.   But,  we live in a world where we are driven by greed and profit.   So with that said....

If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.  Because at the end of the day, if that 'ALT COIN" makes enough money they can continuously push their "ALT COIN to surpass BTC.   

I dont see anyone financially backing up BTC.   
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot


PLus, people are shorting BTC all day long.  It sucks, because im the "buy during the dip" guy.


my opinions only.... im ready for the backlash


I think there are a lot of people here who understand why we need bitcoin.

I look forward to profiting from not having a bank dictate how and when and with what fees and to whom I can send my money to, or from whom I can receive money.

It's supposed to be a currency that holds it's value and doesn't inflate like the USD to an unpredictable supply. It's not supposed to be a risky company stock or a gamble.

Yes the potential for profit is there but it should never be the primary reason why we are in cryptocurrency. Once a crypto gets adopted I don't think we'll be seeing crazy bubbles and crazy price increases, and that's ok.

All I want is a currency I can hold on to without getting taxed 3-5% every year by the US government while getting nothing (through inflation).

That is profit enough. After the next blockhalving inflation in bitcoin will be under 2%. That is profit enough for me.


As for another coin surpassing bitcoin, that could be OK. As long as bitcoin helps me hedge against inflation I don't think this is a winner takes all kind of market.

Silver and Gold can exist together. So can bitcoin and litecoin. Although I do believe that alts are overvalued (even litecoin).
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July 04, 2018, 10:07:25 AM
 #15

Thankyou all for your input and opinions.  I must say, its great to have a community like this where I can get the opinions of so many others.  Thank you again.

Bitcoin is definitely a currency and stands on its own against what "altcoins" I compared it too.  Bad example in my part but I think I got the point semi-accross.

People profit from Bitcoin.  Including myself since I bought in mid 2016 if i remember.


times are changing and its difficult for me to understand exactly whats happening with all the news and info we get.

Guys, Im still learning and appreciate the input...

What about these Forks to bitcoin.   Someone forks, its decentralized.... sorta.

The guys/girls who forked it make money off fees, mining, im sure they rewarded themselves handsomely with tokens or coins themselves too. 

These are the ones I think will have a high potential to take over, YES/No???

They take the btc name, its "decentralized"
they push for it to be accepted everywhere "bitcoincash" listed on Coinbase....  See where Im headed?

This is where I see the transition happening and start to form my own opinions on everything
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July 04, 2018, 10:17:54 AM
 #16

Nonsense, many people have benefited from bitcoin. Just like pumping altcoin, BTC investors also do pumps and they also sell at high prices to make a profit. If you say BTC does not bring any benefits, I think it's just your jealousy over the lucky ones.

OP is a newbie and just created a new account. So i am sure he would not know anything about btc or may be new here so would not know have even invested till now. Considering the last 6 months yes the market have not supported well as price has fallen only but does not mean it has not benefited people.


yes, Im a newbie.  I bought btc early but didnt dig into as much as I should have.  This forum is a great resource for information and maybe throwing a obscene post to get answers is not smart or maybe its a part of my elaborate plan to get information faster.  Grin
 

thank you for your input
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July 04, 2018, 10:20:18 AM
 #17

In order to see the prospects for development of bitcoins not only as a technology but also as a financial tool, it is important to watch a period of time not less than two years, then the growth of price and popularity will become evident. If you will assess prospects based on the last six months, then I think you will not get any objective information.
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July 04, 2018, 10:47:16 AM
 #18

Are you sure that no one profits from Bitcoin? Everyone here does. Without Bitcoin you would never see Bitcoin Cash and Ripple. Many people started to value their financial privacy thanks to cryptocurrencies which mostly offer (pseudo)anonymous transactions. Privacy is the best thing we can get from cryptocurrencies. Bitcoin will become better in the future, Lightning Network already helps it with that.

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July 04, 2018, 10:48:31 AM
 #19

I don't think so, since with the repeated inflation and blow-offs of bitcoin, that proves that there's still a market for people to take profit from, and there are still people interested in making a profit with it. As for your logic, take Blackcoin for example (a 2014 coin). It have had its time, specially when people are into it. After people took profits from the said coin, almost everyone moved to a newer coin with newer market/people. The thing is, it's not everyone wants profit; others still want development and practical uses for their coins. The reason I see why people are still into bitcoin after its poor performance from 2014-2016 and 2018 onwards is because they see something good at bitcoin that they cannot see at other top-performing coins when it comes to price.

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July 04, 2018, 11:45:51 AM
 #20

I agree to disagree with the subject thread wherein there are still many people who made a profit with btc and these people are those who know how to understand the market trend and those holding their btc's while the market is on dip. Most of the people that had made good profit were those investors that had invested few years back and was able to ride the highest price value during Q4 of 2018.

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