Why HODLers now pray for banks and institutions to enter if Bitcoin...

[Pursuer]

if everybody gets a lambo there will be flying lambos and no one will want the lambos anymore

bitcoin introduced crypto more wasn't necessary it would be insane wasting global electricity for bitcoin

in the real world you can see opportunities are out there for anyone to grab them but we only see one Steve Jobs instead of millions. the same thing is true here too. those newbies who busy themselves with FUDs from other newbies and whale accumulators are always left behind. we have had the same discussions against bitcoin for years and bitcoin has been rising ever since. I remember people saying the same nonsense when price was $200 and I still continued to buy it.

now guess which one of us has more money?
someone who bought bitcoin in that dip when everyone else was saying bitcoin is dead or someone who listened to the FUD and sold at a loss and didn't buy back...

[verita1]

HODLers may have many reasons for wanting banks to enter Bitcoin. As manipulation of the Bitcoin price, ensure more profits, investments, etc.
But Bitcoin was developed by a concept opposed to banking entities: decentralized, peer-to-peer, without the intermediary. I think there is no great concern in this regard.

[kapalmabur]

if everybody gets a lambo there will be flying lambos and no one will want the lambos anymore

bitcoin introduced crypto more wasn't necessary it would be insane wasting global electricity for bitcoin

in the real world you can see opportunities are out there for anyone to grab them but we only see one Steve Jobs instead of millions. the same thing is true here too. those newbies who busy themselves with FUDs from other newbies and whale accumulators are always left behind. we have had the same discussions against bitcoin for years and bitcoin has been rising ever since. I remember people saying the same nonsense when price was $200 and I still continued to buy it.

now guess which one of us has more money?
someone who bought bitcoin in that dip when everyone else was saying bitcoin is dead or someone who listened to the FUD and sold at a loss and didn't buy back...

yes, you are right, this kind of thing keeps repeating, every time always there are those who say that, and maybe not many people like you are lucky because you know bitcoin from the beginning, so you can now enjoy the results, but on the other hand those who are new to Bitcoin this year will certainly find it difficult to understand and accept conditions like now.

[clrpod]

if everybody gets a lambo there will be flying lambos and no one will want the lambos anymore

bitcoin introduced crypto more wasn't necessary it would be insane wasting global electricity for bitcoin

in the real world you can see opportunities are out there for anyone to grab them but we only see one Steve Jobs instead of millions. the same thing is true here too. those newbies who busy themselves with FUDs from other newbies and whale accumulators are always left behind. we have had the same discussions against bitcoin for years and bitcoin has been rising ever since. I remember people saying the same nonsense when price was $200 and I still continued to buy it.

now guess which one of us has more money?
someone who bought bitcoin in that dip when everyone else was saying bitcoin is dead or someone who listened to the FUD and sold at a loss and didn't buy back...

yes, you are right, this kind of thing keeps repeating, every time always there are those who say that, and maybe not many people like you are lucky because you know bitcoin from the beginning, so you can now enjoy the results, but on the other hand those who are new to Bitcoin this year will certainly find it difficult to understand and accept conditions like now.

I find it an interesting debate of it was easier to buy in faith then or now? On one hand, it's more clear now the potential bitcoin has and it's closer to achieving that so there's less risk, but the upside is lesser because of the already higher price. Alternatively previously the potential profit was much higher but the risk was more. I'm not sure which was a more attractive investment proposition.

[gadimbrut]

most holders pray as you say because they expect the price of bitcoin to rise soon, maybe they think if banks and institutions enter prices will rise, but in my opinion the increase is only temporary, I prefer stable prices rather than high prices, because if my price is high can't buy bitcoin.

[Marshall14]

most holders pray as you say because they expect the price of bitcoin to rise soon, maybe they think if banks and institutions enter prices will rise, but in my opinion the increase is only temporary, I prefer stable prices rather than high prices, because if my price is high can't buy bitcoin.

I doubt if banks and institutions will help to pump the price of the bitcoin,rather I think what they'll bring to the system could be more stability..
But this stability will come at the cost of regulations which I think all bitcoiners are against,really I doubt we'll even see banks actively involved in cryptocurrencies(full time)..
We'll never know what their introduction(banks,institutions,regulatory bodies) will truly hold for this network...

[btc-room101]

most holders pray as you say because they expect the price of bitcoin to rise soon, maybe they think if banks and institutions enter prices will rise, but in my opinion the increase is only temporary, I prefer stable prices rather than high prices, because if my price is high can't buy bitcoin.

I doubt if banks and institutions will help to pump the price of the bitcoin,rather I think what they'll bring to the system could be more stability..
But this stability will come at the cost of regulations which I think all bitcoiners are against,really I doubt we'll even see banks actively involved in cryptocurrencies(full time)..
We'll never know what their introduction(banks,institutions,regulatory bodies) will truly hold for this network...

These are not the libertarians your looking for, today HODL'rs that hang out on this forum, care nothing but pump&dump bitcoin to the moon, and get more suckers to BUY, ... and cash-out,

I concur regulation is coming, and the golden-days of bitcoin being a cowboy-criminal paradise are almost over,

This said, I do agree the original premise of bitcoin was to do with away with the bank, or to provide a service for people who had no bank, ..

Now that bitcoin is owned & controlled by criminals, its not surprising they will embrace any new owner that flashes cash, the day of morals and standards and ethics of btc is long gone,

The HODL-ers by definition are morons, but morons assume everyone else is an idiot, including the bankers,  which is probably true, problem is that btc is too risky for banks, thus most of this is just bullshit talk.

[Teawhalee]

Are you even sure banks and institutions are not involved yet. ? Banks and institutional involvement does not have anything to do with the other investors of other people's  gain or freedom. The only thing we can be bothered for is them gaining control for regulation and manipulation.

[shinharu10282016]

It might be because they believe that mass adoption will increase demand, thus increasing it's price. Sad to say, it doesn't work that way here.

Here in cryptospace, if you do not have a solid community to believe in you. If the community doesn't believe in you, you won't make a profit.

[LeGaulois]

People hoping to see banks and institutions are just interested to see the price "mooning" again for their own profit. Even if the market reaches a new ATH, these same people will probably sell everything and leave (if it isn't already done).
There are still people who don't care about banks/institutions and others who don't want to see them. So here it is, as you see not all holders pray for banks/institutions

These are not the libertarians your looking for, today HODL'rs that hang out on this forum, care nothing but pump&dump bitcoin to the moon, and get more suckers to BUY, ... and cash-out

This is true.

[arielbit]

People hoping to see banks and institutions are just interested to see the price "mooning" again for their own profit. Even if the market reaches a new ATH, these same people will probably sell everything and leave (if it isn't already done).
There are still people who don't care about banks/institutions and others who don't want to see them. So here it is, as you see not all holders pray for banks/institutions

These are not the libertarians your looking for, today HODL'rs that hang out on this forum, care nothing but pump&dump bitcoin to the moon, and get more suckers to BUY, ... and cash-out

This is true.

Again...be an A$$HODL'rs.... thank me later

[cellard]

I don't think any actual bitcoin hodler is praying to anyone, needless to say, to banks and institutions to start buying.

The question is: What does it matter? We cannot avoid banks and institutions getting in. We cannot avoid they creating futures, to dump the market, then ETFs and BTC settled platforms like Bakkt, to pump into $100,000++. It's just how it goes. If there is a demand for it and there is definitely a demand, these products will arise and will make it easier for people that want to exposure to the market but are too incompetent to deal with private keys.

Only when fiat collapses and people start seeing their wealth lost/confiscated to save banks they will learn about bitcoin and freedom.

[1Referee]

On one hand, it's more clear now the potential bitcoin has and it's closer to achieving that so there's less risk, but the upside is lesser because of the already higher price. Alternatively previously the potential profit was much higher but the risk was more. I'm not sure which was a more attractive investment proposition.

If we look at most of the newbies here, then they don't really mind the risk considering that they have been going nuts on shitcoins to find the next Bitcoin or Ethereum. If you also add that most people by now have figured out that pretty much every altcoin goes up more than Bitcoin does percentage wise, it's an easy choice for them.

In the end, it takes time for people to appreciate why crypto has value in the first place, which is why bear markets are great. Instead of focusing on gains, they can now read into Bitcoin for example, engage in discussions here, etc. Almost every person here started as get rich quick noob, people often tend to forget that.

[Yaunfitda]

...was supposed to free us from them?

This is a free market, everyone who want's to enter can join specially Banking institutions. They have deep pockets which means more money can be injected into the ecosystem that may push the price to another level.

We know for the fact that banks wanted to always makes profits so it makes sense for them to enter as well. I also don't think that HOLDers are praying for banks to enter Bitcoin, maybe want they wanted is for everyone to enter and Bitcoin be adopted globally.

[Bitfling]

Maybe its because they buying coin at highest price and right now their portfolio drop more than 90%. They hoping banks and financial institution will injecting billion dollar in market and make the price reach highest again. Hodler should be patient with their investment because i think crypto is long term investment

[KingScorpio]

i am pretty sure the "bloodbath" for the bitcoin hodlers will get bloodier and bloodier

[btc-room101]

i am pretty sure the "bloodbath" for the bitcoin hodlers will get bloodier and bloodier

No doubt, IMHO mean-reversion is $1400, but it could also very well go down to $400, but that is still astronomic compared to the days that 50 btc bought one pizza.

BTC is/was for geeks, and these morons&idiiots that trade BTC & HODL are getting what they deserve, ... to be economically raped, and removed from the food-chain for their stupidity, and in time the GOV will go after the exchanges and imprison those who turned BTC into a PONZI.

[r8st]

i am pretty sure the "bloodbath" for the bitcoin hodlers will get bloodier and bloodier

No doubt, IMHO mean-reversion is $1400, but it could also very well go down to $400, but that is still astronomic compared to the days that 50 btc bought one pizza.

BTC is/was for geeks, and these morons&idiiots that trade BTC & HODL are getting what they deserve, ... to be economically raped, and removed from the food-chain for their stupidity, and in time the GOV will go after the exchanges and imprison those who turned BTC into a PONZI.

From investopedia:
What is a 'Ponzi Scheme'?
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn't enough money to go around, and the schemes unravel.

Argumentum ad lunam: the fallacy that because Bitcoin's price is rising really fast the currency must be a speculative bubble and/or Ponzi scheme.
-Vitalik Buterin ca. 2016


Where in any legitimate and sourced bitcoin literature is there ever found a "promise of high rates of return with little risk to investors"? I've never seen it. I'm not saying there aren't those out there who have promoted/shilled this belief to naive n00bs and those in it for a quick buck, but this is very far from unique to only the crypto space, it happens everywhere. One smartens up or faces the consequences, that's life. The value of a bitcoin has never been and will never be congruent to any value of a fiat. They are two different things.

The argument that exchanges are guilty of or responsible for promoting the "ponzi" does not make sense to me... it goes straight back to one of the most fundamental tenets of crypto; if you don't own your private keys you don't own your bitcoin. Likewise, if you trust anyone or anything (exchanges included) to dictate to you the value (monetary or otherwise) of a bitcoin besides your own experience and expansion of knowledge/understanding in regard to it, you are precisely as potentially doomed as handing your private key to another. In other words, it is not the exchange's fault or responsibility to ensure I handle my crypto wisely, it is mine and only mine, or else it is not my crypto.

When I found crypto it wasn't the idea of generating a fiat return that drew me in at all, it was the awesomeness of what I was experiencing with it... being able to transact freely securely and if I wanted anonymously any time anywhere. It was true freedom to me, to not have to bow and pay homage to some hugely corrupted system every time I wanted to exchange some measure of value with another person or for another measure of value. It was in fact quite the opposite, the idea of never returning to fiat that drew me in, harhar. I have never exchange a single crypto for fiat, not sure I would or could. If bitcoin were back to $20 today honestly it would make zero difference to me except I'd have more, but I don't see that happening. I feel very certain that as time goes on and we continue to develop solutions and community it is only possible that more people come in to this same realm of experience and autonomy and self-empowerment. A big part of this experience definitely was exchanges for me, and yes I lost some $ in the process of gaining that experience, but I gained way more understanding than $ lost.

There will only ever be 21million btc in existence. There is a very firm limit set to the number of bitcoin ever to be in circulation. At the same time these days it can be fairly stated there will never be a limit to the number of USD or any other fiat in 'circulation', at this rate there will be infinitely many USD circulating by 2030 lol. So how could this possibly be a ponzi and unravel if there is essentially no limit to how much usd could potentially enter? Further, right now bitcoin has a lower market cap than the company Costco. Given the potential use cases bitcoin is facing, I consider this less than a drop in a bucket to what it could be.

Then obviously the theoretical question arises; what happens after 'mass adoption', when BTC and crypto are used and respected as much or more widely than fiat systems? What does the USD value of a bitcoin mean at at that point? Nothing? Then does it collapse? I can't say bitcoin will ever be the end-all-be-all solution, but I do think it can play a foundational role, and I do believe that with time and a strong supportive growing community a crypto/blockchain-based ecosystem could be developed (is already well-underway, actually) through which a truly reasonable efficient practical and beneficial solution to any applicable need on earth could exist or be found. I wouldn't even promote doing away with fiat, I think a healthy balance can be struck at some point beneficial to both 'systems', and I think it's important for generations to come to have the freedom to pursue and discover either as they will and want.

As far as the hope or not that banks and institutions buy in... I do not care, it is not my choice or issue, it is theirs, or more precisely it is the choice of each and every individual person responsible and with a defined/contracted role in making that choice. Blockchain helped us find solutions free from centralized structures and corruptible 3rd parties... It could only be a detriment to such a discovery and gift as we have found and helped build to deny it to any other person(s) interested in experiencing the same.

[clrpod]

On one hand, it's more clear now the potential bitcoin has and it's closer to achieving that so there's less risk, but the upside is lesser because of the already higher price. Alternatively previously the potential profit was much higher but the risk was more. I'm not sure which was a more attractive investment proposition.

If we look at most of the newbies here, then they don't really mind the risk considering that they have been going nuts on shitcoins to find the next Bitcoin or Ethereum. If you also add that most people by now have figured out that pretty much every altcoin goes up more than Bitcoin does percentage wise, it's an easy choice for them.

In the end, it takes time for people to appreciate why crypto has value in the first place, which is why bear markets are great. Instead of focusing on gains, they can now read into Bitcoin for example, engage in discussions here, etc. Almost every person here started as get rich quick noob, people often tend to forget that.

Sure, long term alts don't on average perform better than bitcoin though, or else its market dominance would be continually in decline. It's held pretty steady around 50% for some time which is impressive as more alts are added each day.

You're probably right about the majority starting as get rich noobs, I can say that my motivation for buying bitcoin at first was definitely financial. I did research bitcoin a little but I have learned a lot more since then. It's easy to forget your own beginnings and lament the people who are in the same place you were, just a few years further down the line.

[BuyBuyBitcoin]

Nope, don't care what banks do.