Do we really understand what bitcoin is capable of?

[Xester]

Well almost everybody in this forum knows what is bitcoin capable and its potential. But even though we know to come and fully understand how bitcoin works and how it will help the financial sector of our economy; we can still cannot deny that we are dealing with money here and as the value of bitcoins goes down so as the investment of the people who got into it. Though we may say that we should not worry since bitcoin will climb up but we do not know what sacrifices did that person gave up to buy bitcoin. Thus knowing what bitcoin is a different story compared to the flow of the market.

[LOVEUMUM]

Some are  at the vedge of giving up because things seems to be up and down within same specifics but lets us bear in mind that bitcoin is capable of doing everything possible to stand. For the past years bitcoin makes it that is what we hoping for.

[Heidi Farrell]

Bitcoin is difficult to understand for a lot of people because they don't really understand how money works in the first place. People are so used to using fiat currency that they just know it works as a way to get stuff from people. They don't really understand how it works, in terms of why it has value, how much of it there is, how it is made, if the bank actually has the money they say they do, etc. People get confused, and put off by bitcoin because to really "understand" it you would need to be well versed in cryptography, tech, and economics, and maybe even more. It is difficult to understand it completely, but you don't have to understand something to use it and to gain value out of something. Right now the consumer facing technology for bitcoin is a bit more raw than the other technologies people use, so this makes people think it is harder to understand. People don't really understand how email works, how the internet works, how the US Dollar works, but we are able to use them easily without understanding them.

[Trustor]

I dont think that we truly understand its capabilities. Though I myself started investing in Bitcoin because I had heard great stories about Bitcoin's once high market value and how it helped people to soar from nothing to earning the highest profits in the market. But because of its boundaryless nature I still think that I dont fully understand it other than the profits it can help earn.

[Camilla Gill]

 Bitcoin is first of its type, a crypto currency which more than 50% of world's population still haven't heard of. It is digital currency but what makes it different is that the currency has no regulator. There is no central bank like RBI or Federal Bank to regulate the flow of Bitcoin in the market. It's hard to understand how the currency came into the market and how it earned its value. The economic behind it is not easy to understand.
 Secondly, Bitcoin involve mathematical algorithms which no one can understand so easily. It requires the use special super power computers in mining Bitcoin.
 So this make Bitcoin difficult to understand.

[Rohtox]

yes I think the market is being manipulated a lot by making negative news that makes people believe it and they panic selling their coins so prices continue to down. I think that's true if the market is manipulated a lot

[Dudeperfect]

To be honest, I believe that we should give first preference to use Bitcoin as a payment system instead of focusing on the speculation part of it in the first place itself. I agree that big whales and institutional investors are trying to manipulate the market in a way they want in order to earn profit from this chaotic situation but still as a user and well-wisher of Bitcoin and blockchain based cryptocurrencies, we should focus on utility value of it.

[Variogam]

There is a lot of active development in Bitcoin and its 2nd layer scalling solutions like Lighting Network. Most speculators dont watch progress in Bitcoin development closely, thats why many speculators can panic so easily

[adpinbr]

Probably not, a lot of people are actually underestimating Bitcoin, a lot of people do not know the real potential of what Bitcoin has, a lot of them do not know the true capability of Bitcoin, and I think that these people will never understand the real meaning of Bitcoin, to them its just fraud, fake, scam, etc. so I think that a lot of us know the capabilities of BTC and a lot of people do not know the real capability of BTC at the same time.

[jcojci]

I am sure that bitcoin is capable to be back to the high price but it cannot happen in the next minute. it will be back in the other day and it will happen in the end, we only need to support bitcoin and waiting for the price to increase higher. I am sure that bitcoin is not yet shown the full potential that bitcoin can do and we can see the potential in the future.