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Author Topic: Why most people believe bitcoin to be worthless?  (Read 1698 times)
mikeywith (OP)
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November 20, 2018, 09:48:54 PM
 #41

I think we should be able to differentiate between random criticism and constructive criticism. There are the people who are against Bitcoin just because they have heard that Bitcoin is a scam from any random YouTube video, these people have nothing to do with the fundamentals of cryptocurrency but opposing Bitcoin is their prime responsibility.

On the other hand, there are some good critics who criticize based on some valid arguments and it triggers the healthy discussion and possible solution to the issues raised by them. Sadly, most of the people are under the influence of the people from the first category because of the prime criteria to be the member of second category is the availability of brain.


I think you understood the point of my topic very well. now imagine that your job is to promote bitcoin to the average folks. you get 10 bitcoin in your wallet and you have to sell them "not on exchange or OTC".

how do you get people to buy it ?

 I totally agree with your way of categorizing those potential clients as two . how do we go about promoting bitcoin or crypto in general to those two  types of people?


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November 20, 2018, 09:56:14 PM
 #42

The Dollar is worthless too, it derives it's value from the movement of goods done with it. It is merely a measure of transaction. You could almost say that when a currency goes beyond it's intended connections it becomes extremely manipulative of those territories it imposes on. by accepting a particular Currency one is aligning oneself with it's development, to be taken into account as one of it's working participants... at the same time it introduces a weakness as it's over-reach could trigger a negative spiral by being abandoned by those who hold no allegiance to it's claims.

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November 20, 2018, 10:53:19 PM
 #43

Because they though it was just a mere Ideas and hoax, they don't believe that it can make them richer if they make the right decision. If they invest on trading or in some good ICOs there are two main possibility for them either they will go richer and will go bankrupt bad positive people will not think of the negative sides so they are the ones will succeed sooner.

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November 20, 2018, 11:07:08 PM
 #44

because they think that bitcoin is not an official currency that can be used in daily life and the value of this currency always changes every second, and many are experiencing bankruptcy due to using this currency. so many people think that this currency is useless. and this currency has a high level of risk of loss and the value of this currency easily falls due to the effects of negative news or price manipulation.
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November 20, 2018, 11:17:17 PM
 #45

I don't know why people expect so much of bitcoin, for me it's just the first cryptocurrency developed by Satoshi to be completely decentralized, that doesn't mean that it's the best or that it's perfect, it's just a pioneer in a field that hasn't been touched much before, of course, if people prefer other utilities there's Ethereum, EOS or ripple, for every preference, between the variety is the taste.

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November 20, 2018, 11:41:58 PM
 #46

Yes people's with lack of knowledge how bitcoin moves as decentralized volatile currency aren't unbelievable to thinking their mind bitcoin become worthless investment.

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November 21, 2018, 12:08:15 AM
 #47

I think most people think and believe that bitcoin to be worthless because they have fear just maybe before they will invest in something then suddemly the investment and business will die. But I think the biggest factor that people believe bitcoin to be worthless is the fake news coming from haters or coming from wrong prediction from the people who dont have enough knowledge about bitcoin. And the other one is they are affraid on changes so they dont want an innovation. And they are also afraid to take a risk specially in the new things or investment like cryptocurrency.

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November 21, 2018, 12:15:24 AM
 #48

right now the big investor and traders panic, for people that invest big amount of money in bitcoin it will normal when the price is drop more than 25% they cashout their investment,, its not like us that have the small amount investment.

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November 21, 2018, 12:23:19 AM
 #49

Yes, Bitcoin might be dropping its current price but is normal in a crypto, but I do not believe Bitcoin is useless, he's still the king and will remain the number one.


And that's a freaking non-sense argument.
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November 21, 2018, 12:34:46 AM
 #50

right now the big investor and traders panic, for people that invest big amount of money in bitcoin it will normal when the price is drop more than 25% they cashout their investment,, its not like us that have the small amount investment.
in fact, bitcoin still has a sale value so I still think bitcoin is still useful and has many benefits, smart investors prefer to profit from losses, I'm sure they still hold bitcoin because bitcoin value can rise. I am sure investors will also buy at a low price someday.

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November 21, 2018, 02:02:00 AM
 #51

If we should consider the prices of btc to make judgements then we must be mistaking. However the advantages are far better than mere prices. It is true, prices of btc are low now, but this is just the market and this is not a news at all as it is expected to rise in the near future. I will say that the crypto community is still young and more studies has to be done.
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November 26, 2018, 03:29:48 PM
 #52

People who remain ignorant are just confused by a new technology. Media is adding to the uncertainty, often spreading myths and prejudies.
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November 26, 2018, 06:08:54 PM
 #53

Amongst all the threat surrounding Bitcoin, media is number One and most people so rely on media to get information thus exposing them to fake news thereby creating more panic.

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November 26, 2018, 06:12:02 PM
 #54

how can we define a coin is the real coin ? with bitcoin anyone can fork a new coin in matter of minutes , so I can create a new coin so is it legitimate ?

So I can create a new type of bitcoin, let's say , FanBitcoin, so can I use it ?  so how can we make a distinction which one is better .  I bet my new coin is better because I can fix something that Bitcoin is still there and nobody was able to fix it .
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November 26, 2018, 06:18:57 PM
 #55

most people think that "No useful Dapp or any sort of business based on bitcoin or crypto in general that is making a decent amount of revenue except for exchanges and mining hardware companies.!"

If you have to debate with someone about the "real" value of bitcoin. rather than people buying it to sell it for more fiat , what are the proper arguments that you have to use ?

people have already built this kind of immune system against the benefits of Decentralization which is bitcoin strongest weapon.

i mean the average person does not really care about centralization, more than 90% of the world's population, go to work early morning, go home in the evening, get paid by the end of the month and really do not give a fudge whether their money is sitting at the bank or an Exodus wallet as long as they get to spend it.

that average person would buy into a new idea if it has something of a direct change on his life style, i mean if you were to invent a cheap flying car then the whole world would want to have it.

I was trying to promote bitcoin to one of my friends, and he did not seem to be impressed at all, a while later another friend of ours talked about this new product that you  can apply to your penis  and get an instant 0.5 cm extra length and my friend got so excited and said he is going to buy it. Shocked

it's not funny i know, but seems like he has got a small one and he needs to fix it. so he THINKS he is got a problem , therefore whatever solution you throw at him is an easy SELL.

but people do not really have any problem with fiat or how govs print money out of thin air. they really do not care as long as they get enough of it .

so what is the real use case that we can plant in these people's heads ? do we have to create a problem that matters to them and then propose bitcoin or crypto  in general to solve that matter?

how do you go about convincing some one into at least believing in bitcoin as appose to buying it. ?

I personally do not encourage anyone to buy bitcoin. Because I do not want to hear once again in your address such statements as - I bought bitcoin, and he fell, you advised me, now I'm bankrupt, and so on. I can advise it only in the short term as a tool for trading, and then for an experienced trader. My friends do not understand why I got in touch with bitcoin. Smiley
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November 26, 2018, 06:35:59 PM
 #56

 Bitcoin has its own technology and is not very predictable and only the most experienced investors can trade it. Newbies without special knowledge can only lose their money. I can not say that bitcoin is useless.
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November 26, 2018, 07:06:43 PM
 #57

Bitcoin is one of the high value and useful transaction tools, but there are many challenges when Bitcoin develops. The challenge is that many people don't appreciate that bitcoin is very valuable, if they are aware of the benefits of bitcoin, they will certainly regret and eventually want to have bitcoin too.
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November 26, 2018, 07:37:54 PM
 #58

most likely, people do not understand anything and do not know about bitcoin and blockchain. these are very attractive projects that bring a lot of benefit.
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November 26, 2018, 07:41:15 PM
 #59

most people think that "No useful Dapp or any sort of business based on bitcoin or crypto in general that is making a decent amount of revenue except for exchanges and mining hardware companies.!"

If you have to debate with someone about the "real" value of bitcoin. rather than people buying it to sell it for more fiat , what are the proper arguments that you have to use ?

people have already built this kind of immune system against the benefits of Decentralization which is bitcoin strongest weapon.

i mean the average person does not really care about centralization, more than 90% of the world's population, go to work early morning, go home in the evening, get paid by the end of the month and really do not give a fudge whether their money is sitting at the bank or an Exodus wallet as long as they get to spend it.

that average person would buy into a new idea if it has something of a direct change on his life style, i mean if you were to invent a cheap flying car then the whole world would want to have it.

I was trying to promote bitcoin to one of my friends, and he did not seem to be impressed at all, a while later another friend of ours talked about this new product that you  can apply to your penis  and get an instant 0.5 cm extra length and my friend got so excited and said he is going to buy it. Shocked

it's not funny i know, but seems like he has got a small one and he needs to fix it. so he THINKS he is got a problem , therefore whatever solution you throw at him is an easy SELL.

but people do not really have any problem with fiat or how govs print money out of thin air. they really do not care as long as they get enough of it .

so what is the real use case that we can plant in these people's heads ? do we have to create a problem that matters to them and then propose bitcoin or crypto  in general to solve that matter?

how do you go about convincing some one into at least believing in bitcoin as appose to buying it. ?

I can't understand why some people wants to BTC price goes down. They can't understand if BTC will loose, all market will loose. No one earn anything when price falling. Yes something can come back, but it is not certain.
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November 26, 2018, 08:00:25 PM
 #60

Because most of them don't know the market well or just panicking about the price gaps.
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