Beware of nocoiners

[DeathAngel]

We’ll see who’s laughing when we see 6 figures (USD value) per bitcoin 2 years or so after the next halving. All of the doubters & trolls will be crying into their beer wishing they’d invested when it was still cheap enough to buy whole bitcoin’s.

’First They Ignore You, Then They Laugh At You. Then They fight You & You Win’

Gandhi

[squatter]

Be also beware of "oracles" who made us believe that they understood Bitcoin. Because Bitcoin is not a magic financial solution for mainstream consumers. It's a protocol which mainstream consumer financial solutions can be built on top.

Bitcoin might be of more value to people and businesses who look for a secure store of value, a settlement layer, a payment rail, or an unstoppable censorship-resistant cryptocurrency.

I think a core issue here is that Bitcoin's deflationary supply discourages spending. It creates strong incentives for people to save rather than spend, especially when contrasted against the inflationary fiat money burning holes in our bank accounts.

This is why some early altcoins like Freicoin introduced demurrage-like fees to discourage hoarding and ensure that currency remained in circulation.

If/when Bitcoin usage is ubiquitous in society, it will be widely demanded among merchants. Consumer payments don't need to be the catalyst for mass adoption, though. That's where I think people have it wrong when they put all the focus on consumer and merchant adoption. Bitcoin is a new form of money, not just an attempt to compete with Mastercard.

[Leonardo7]

In practice, no bitcoiners will ever take such a statement with seriousness. The fact that one doesn't understand the technology behind a powerful project doesn't mean that the project will fail. Many haters of bitcoin will apologize in the future, Just as the CEO of JP Morgan was welcomed to Crypto after he outwardly repented.

[1Referee]

For sure, Bitcoin is not perfect just like any man-made idea or invention but certainly this has a big value if utilized properly for the good of everybody.

Nothing is perfect. If things were to be perfect, they wouldn't be replaced after whatever period of time. Good thing about Bitcoin is that it's pretty much software, so it can be upgraded when needed, but I would say that it is one of the more perfect coins within crypto. It's not for nothing that there are billions of dollars moved on-chain every single day. This doesn't happen on any altcoin.

In the end, I do actually like that people here are challenged by nocoiners. Most of their arguments are invalid and meant to target this space as a whole, but in some cases they do have valid arguments and we need to acknowledge them instead of bouncing it off as being nocoiner fud.

[BestBitcoinBuyers]

Banks spend millions on advertising for a reason.

Education over time is all the marketing bitcoin needs...

[Kakmakr]

Nocoiners base their advice on their previous experience with old outdated technology and that it why we should ignore their inputs. Would you trust advice from a car salesman from say a Honda dealership, if you are planning to buy a Lamborghini?

Bitcoin is the Lamborghini and these Honda car salesmen has never even driven a Lamborghini before, so how can they give you advice on your purchase, if their cars are inferior to the car that you want to buy? <They are most probably jealous too, because you want to buy a better car> 

[Wind_FURY]

i very much dislike branding people like this with names such as "nocoiner" but i also hate it a lot more when i see some idiots keep advertising shitcoins and then claim they are better than bitcoin and on top of it all undermine bitcoin!!!

i mean i am more than happy to see an actual competition and an actual "better coin" that does things the way these shitcoins pretend to but when it is all an illusion to pump some shitcoin and take the money from newbies who don't know any better then it gets me really mad.

To put some context on the term, "nocoiners" are not people who do not hold Bitcoins or altcoins. Nocoiners are Bitcoin haters who refuse to understand Bitcoin, and spread FUD.

Paul Krugman is an excellent example of a "nocoiner".

[reda]

Those tweets and news about Bitcoin from those who we believed to be professionals or experts must be trend on carefully because many of them have once tweeted about new technologies and the revers was the case, like the picture shared by OP. Knowing not the technology make them to give their selfish judgment about the technology; lets beware of them.

That is true, I remember all words by JPmorgen but all reversed and they changed their mindset and making their own. Even like this facebook initially stopped the ICO promotions on facebook but now they are also making their own coin called facebookcoin. So I personally will not follow any trollers word even though they are fame personality.

Actually they're not the best examples.

JPMorgan has never shown that they'd been starting to like crypto, they've started to build a stablecoin just because they've seen it can make them money.
Also Facebook's coin may be a cleaver way to avoid some more taxes.

So no, they didn't really get converted, they've just sensed the smell of money.

I hope you did not get me properly. Even I tried to say the same thing, JPMorgan never said he gonna start new crypto coin or something but continuously he shared more critics over decentralized cryptos now they are on the blockchain platform and working on stablecoin how come he stable with the thought first!
Haha may facebook create for such reasons but initially avoidance over the ICO project ads was happened.

[BitHodler]

Haha may facebook create for such reasons but initially avoidance over the ICO project ads was happened.

The ad ban was quite clearly a mistake. Instead of wiping out the scam ICOs, they wiped out even the legitimate businesses trying to gain more exposure. It's a mistake they corrected not long after.

As for the FB coin, it's just them following the hype and potentially create an extra income stream that isn't focused solely on ads. I'm sure that their FB coin will net them higher profit margins overall, and that's what they are after.

Businesses do whatever they consider to be the best option going forward, and that's following the crypto hype. They prepare themselves for the next bull wave, and I can't blame them for doing so.

[eternalgloom]

These people might be extremely well-versed and intelligent in their own areas of expertise, but I have the feeling that they just cannot comprehend the potential that Bitcoin has.
Either that or they're actually scared that cryptocurrency might one day take over the regular banking industry, so they're trying everything in their power to smear it.

Whatever it is, people who actually know what cryptocurrency is all about know better than that.

[LeGaulois]

I consider Bitcoin still in its early stages. Quite rude to judge it while we aren't even using it at its "full potential". And to be honest, during its first decade Bitcoin has been spreading a lot with its ecosystem.
We still need a few years before getting an accurate opinion, we all know how surprising Bitcoin can be. Let's wait for the demand and see BTC in Super Sayan

[BurgerCash]

You can get insecure all you want, but bitcoin has had negative adoption since the blocks got full, and there's currently no way to transact cheaply using it - on-chain is too expensive, LN is unfinished and the UX is unattractive.
It's constructive criticism, not FUD.
And of course alts will take advantage of Bitcoin's shortcomings.

[Teawhalee]

Sometimes people who we think should give support to new innovation are the ones that raise fear and FUd about it. This is just they want to make a new name by saying they said it that such won’t last especially in the bitcoin case. It’s really difficult for them to understand how things work and moreso not everyone wants freedom and privacy so they rather stick to the old payment options with high fees and avoid using bitcoin. But bitcoin still remains firm amidst all these Words from seemingly haters. Please let’s do our research before following any words of advice from top people.

[Indrawan77]

Bitcoin is not failing in adoption but it will need some time to make progress, this is due to the people that used bitcoin for bad things so the government need to do more research, other coins still cant compete with bitcoin, without a good transaction volume the price will be too fluctuative to be used, and there are many fud news that keep on being spread so some party could take advantage of bitcoin

[Pursuer]

unfortunately there has always been a lot of misinformation on social media on every single one of them partly because a lot of newbies try to spread what they think is their "knowledge" but also partly because a lot of times (like these days) people want lower prices for bitcoin so that they can fill their pockets with more amount of bitcoin whilst investing the same amount of money so they spread FUD about bitcoin.

[proTECH77]

I don't care what he is saying about bitcoin, I'm used to these FUDSTERS!

What i care is my believed about Bitcoin!. Understanding the tools behind any technology matters alot and what fudsters don't understand is all about the technology, so, we don't have to worry over these trashed been posted by these FUDSTERS.

[michellee]

I think he only wants to make people confuse with his said so he can use the opportunity for his good. I don't surprise to see one person who says like that, and maybe there will be many other people who will say almost the same things. They don't want to see a new change for this world, so they make a bad opinion for something that was just released. It always like that, when something comes out, many people don't like it but soon, after they have a good experience, they will turn around, and they will use it someday.

[magneto]

Be also beware of "oracles" who made us believe that they understood Bitcoin. Because Bitcoin is not a magic financial solution for mainstream consumers. It's a protocol which mainstream consumer financial solutions can be built on top.

Bitcoin might be of more value to people and businesses who look for a secure store of value, a settlement layer, a payment rail, or an unstoppable censorship-resistant cryptocurrency.

Certainly.

Both ends of the spectrums can be extremely misleading. At the one end of things, you have people who claim that bitcoin holds no value, it's not an investment, or it's a pyramid scheme - people who have absolutely no idea why or how bitcoin functions, but still has plenty of unbased criticism and often cites short term price cycles as somehow the failure of the bitcoin network as a whole.

On the other end, you've got people who claim that bitcoin's some magical solution to all our financial problems, and that somehow if bitcoin was massively adopted, there will be absolutely no debt and financial crises in the world.

You're absolutely spot on, bitcoin is neither of this. IMO, it's simply a new age currency on top of which services can be provided, and can serve as a store of value without any intermediaries or central entities.

[deisik]

I think a core issue here is that Bitcoin's deflationary supply discourages spending. It creates strong incentives for people to save rather than spend, especially when contrasted against the inflationary fiat money burning holes in our bank accounts

That largely depends on your preferences

For example, if you you consider Bitcoin a full-fledged currency (read, your daily means of payment for, say, groceries), then Bitcoin makes a bad choice for the reasons described. On the other hand, if you look at it more like a store of value ("digital gold"), then it is actually a very beneficial feature and still more so for exactly the same reasons

This is why some early altcoins like Freicoin introduced demurrage-like fees to discourage hoarding and ensure that currency remained in circulation

That was a bad and stillborn idea if you ask me. Technically, you can't encourage anything which is not there nor even guaranteed to be in the future

If/when Bitcoin usage is ubiquitous in society, it will be widely demanded among merchants. Consumer payments don't need to be the catalyst for mass adoption, though. That's where I think people have it wrong when they put all the focus on consumer and merchant adoption. Bitcoin is a new form of money, not just an attempt to compete with Mastercard

Merchants are irrelevant without consumers first willing to pay with crypto, which they are not (as you mean yourself)

[MonsterV]

Those tweets and news about Bitcoin from those who we believed to be professionals or experts must be trend on carefully because many of them have once tweeted about new technologies and the revers was the case, like the picture shared by OP. Knowing not the technology make them to give their selfish judgment about the technology; lets beware of them.

Right, too selfish in assessing an adoption that maybe he doesn't know very well.
and if the man's statement is true, it is impossible for Bitcoin to grow so far. The man might be delirious haha