Early investors and adopters backing out or losing their hope is a warning sign.

[d.kevin29]

Are you one of them or do you just have a very high opinion of yourself? If I had such an opinion about the forum, I would have left it long time ago - but I think this forum is still best place for finding very good information and content, although there is no doubt that the vast majority have only one reason to be here.

Unfortunately or fortunately, we were not all born in the UK, USA, Canada or Australia, so our mother tongue is English. What you call "abuse" of google translate is just help for others so they can communicate with you and others on this forum.

Well, I mean generalizing isn't a good idea I guess. But I kind of agree, and if you look at my first pages of posts I guess you could have considered me one of them too (hopefully you don't consider me one of them now). By "abusing" Translate I guess he's talking about those spamming the forum with useless threads trying to promote some fishy websites (or ref links) and those using Translate just to get those posts written so they could get some $$ off the forum.

Gentlemand, I'm not sure why but I had you on my ignore list until now. It was from a long time ago most likely, as I can't remember the reason but we probably had a disagreement or something. After a quick look through my pages of posts I couldn't find anything linked to your username.

Anyways, maybe let's try to stay on-topic?

It is also good to note that there are two types of people involved in bitcoin right now. Those who are innovators/developers and investors.

[...]

And if we are looking for a warning sign, isn't the creator itself being radio silent for the longest time the best warning sign?

Well, I mean it's natural to have both types of people involved in the BTC community, but wouldn't it be better if we took just a very little part of the time we spend doing anything related to Bitcoin and use it to just think about what could be done to improve the state of it, the way it works?

Even those involved in Bitcoin development care about the price. That's also completely natural and normal as we actually live off money, right? But imagine just 10% of all Bitcoin buyers took a moment out of their free time to think of something innovative. I'm sure things would evolve way faster.

Edit: Why do you think Satoshi's silence is the biggest warning?

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[bhabygrim]

so the summary of your wall of text is that you saw a couple of tweets from one person on twitter (who had a business that failed 7 years ago) who was saying he basically has no bitcoin but is bag holding a lot of the two most centralized altcoins and now you think "early adopters" are backing out?!!! how did you come up with that conclusion exactly

Well said and it isn't really fair to say that the early investors and adopters are backing out just because one of the early adopters are now showing a lose hope on BTC.
If this would be the case then we already lose tons of people who are early user of Bitcoin way back before 2017 when it was skyrocketing.

[dothebeats]

There doesn’t seem to be any substantial evidence of these guys being early adopters of bitcoin. And mind you, most have gone off probably some time in 2013 ATH too, so I doubt that a lot of the true OGs are really sticking around until now. I don’t think early adopters leaving the scene is a real threat considering how big the market and the community has become over the past decade. Bitcoin will still carry on with or without the early adopters, and would certainly improve over the years, too.

Not that I’m saying that early adopters aren’t missed but just that bitcoin is still bitcoin even if most of them leaves.

[gentlemand]

And if we are looking for a warning sign, isn't the creator itself being radio silent for the longest time the best warning sign?

Is this a bit of satire? Did you let you dog post this?

Satoshi disappearing is the most altruistic and constructive thing he could possibly have done for the future of his creation. It's one of the many factors that separates and elevates Bitcoin above all the diarrhoea that came afterwards.

[chaoscoinz]

I think people might be a little disgruntled being that the Bitcoin price seems to have stagnated, refusing to rise above $10k again. A few years back we had seen record highs for the price which was nearing $20k, then the bubble popped and it deflated pretty low. It may have been just a pump that brought in a wave of liquidity into the market, I'm not sure though. It was the fear and uncertainty that led to the panic selling. I think the new price reflects that the market is starting to stabilize some, correcting itself from the previous inflation.

Just my two cents!   

[Eugenar]

I think people might be a little disgruntled being that the Bitcoin price seems to have stagnated, refusing to rise above $10k again. A few years back we had seen record highs for the price which was nearing $20k, then the bubble popped and it deflated pretty low. It may have been just a pump that brought in a wave of liquidity into the market, I'm not sure though. It was the fear and uncertainty that led to the panic selling. I think the new price reflects that the market is starting to stabilize some, correcting itself from the previous inflation.

Just my two cents!   

I don't see any implication that early bitcoin or cryptocurrency adopter are now backing out of the crpyotcurrency space right now. So far, there's still an improvement on our market as volume keeps on increasing induces the effect that cryptocurrency market adoption is growing bigger and better. When it comes to comparison what bitcoin investors vs adoption, we can rather say that bitcoin or crypto adoption is quite a bit in advantage compared to early adopters quitting in crypto.

[rdluffy]

You made a good thread, it's something to think about, no doubt
But look, BTC "died" a lot of times, everytime BTC fall in price, this kind of thread appears, and nobody will buy BTC anymore and you can repeat this a lot of times, the fact is BTC is stronger than this, and will be stronger day by day, year by year

[Pearls Before Swine]

The way I see it, sending money around the world for 5 cents wasn't really a problem that needed solving in the first place.  What happens when the recipient of that money gets bitcoin?  He is probably not going to be able to spend it anywhere, so he'll have to sell it.  That's a hassle and it will also probably cost more money to do it.

It's not the new generation's fault that bitcoin evolved into an investment where everyone is watching its price.  That's just what happens when you go from zero to $20,000 in less than 10 years.  So if the original generation of bitcoin owners lose their love of it, so what?  Time for the new generation to take over.  We're also talking about a very small set of data points here as well, a small number of people who've lost their enthusiasm.

Satoshi hasn't moved his coins likely because they belong to some branch of gov't that helped to develop bitcoin.  That really isn't saying much about an original vision for bitcoin being betrayed in my opinion.

[Youghoor]

so the summary of your wall of text is that you saw a couple of tweets from one person on twitter (who had a business that failed 7 years ago) who was saying he basically has no bitcoin but is bag holding a lot of the two most centralized altcoins and now you think "early adopters" are backing out?!!! how did you come up with that conclusion exactly

Ummm, yeah, no biggie Bitcoin IS OBVIOUSLY dead if a few posters who have waited a few months have lost out,. In the future they may make some shitcoins but who knows.

How can you say or think Bitcoin is dead when its market cap is $144,632,082,940 and has a market volume in 24hrs to be $13,836,910,508. In the world of investment, it either you make profit or you lose your investment capital. If an investor is backing out because he lost his investment funds whiles investing in Bitcoin doesn't mean Bitcoin is dead or dying.  And who said early investors are backing out of Bitcoin? These people are the whales in the bitcoin market.

[kryptqnick]

so the summary of your wall of text is that you saw a couple of tweets from one person on twitter (who had a business that failed 7 years ago) who was saying he basically has no bitcoin but is bag holding a lot of the two most centralized altcoins and now you think "early adopters" are backing out?!!! how did you come up with that conclusion exactly

After reading the text I even forgot about the name of the thread . I agree that it does not seem accurate. Surely, many people from the early days are still working on Bitcoin. However, the original post makes a fair point that people care mainly about the price and profits rather than technology and financial freedom. And it's probably true that it's not what we are supposed to be thinking about. I don't know, I think that Bitcoin is a great alternative to banks, proving that people can make direct transactions without these giant intermediaries. It's also the biggest thing I can think of that demonstrates how free market works, how the price can stay unregulated and do so pretty good. But I cannot forget about the price if I know that today I can buy that and that with this money, but a month about is was significantly more than that...

[craZyLovE0916]

There were many early investors,technically speaking their thousands. Therefore it's inevitable that some of them will lose hope or maybe they will make mistakes and sell their Bitcoin too early and regret it.

[ChrisPop]

Smart people won't ever satisfy with just getting money. You will see that people who are poor and intelligent will first be only about the money then once they get it they all realise that this life is not about how much dollars and wealth you can hoard, but it is about love, kindness, bringing smiles on other people's faces, helping people in need and overall making a better world.

When looking at Bitcoin, the majority of people see either the potential to make money or they see just pain because they've lost so much due to it. Personally I believe that Bitcoin will make a fundamental change on our planet and society. Only time will tell us that, but I'm trying to contribute in my way. Keep calm and care about Bitcoin!

[enhu]

It is also good to note that there are two types of people involved in bitcoin right now. Those who are innovators/developers and investors.

[...]

And if we are looking for a warning sign, isn't the creator itself being radio silent for the longest time the best warning sign?

Well, I mean it's natural to have both types of people involved in the BTC community, but wouldn't it be better if we took just a very little part of the time we spend doing anything related to Bitcoin and use it to just think about what could be done to improve the state of it, the way it works?

Even those involved in Bitcoin development care about the price. That's also completely natural and normal as we actually live off money, right? But imagine just 10% of all Bitcoin buyers took a moment out of their free time to think of something innovative. I'm sure things would evolve way faster.

Edit: Why do you think Satoshi's silence is the biggest warning?

Its sarcasm. You are telling investors are leaving well the first who actually disappear was Satoshi. Did anyone see that as a warning before BTC even end up to have a value of a $1? I wouldn't think investors would be leaving now that the price is more than $8k, it would be only mean they are going to lose more profit. We don't even think that BTC is the 1st generation of this technology. We are moving forward.

[d.kevin29]

Its sarcasm. You are telling investors are leaving well the first who actually disappear was Satoshi. Did anyone see that as a warning before BTC even end up to have a value of a $1? I wouldn't think investors would be leaving now that the price is more than $8k, it would be only mean they are going to lose more profit. We don't even think that BTC is the 1st generation of this technology. We are moving forward.

Maybe you could also read my other posts on this thread to see I specifically mentioned that I did not imply the fact that investors and early adopters are leaving. Not going to repeat myself though - take a look through this thread and read it on your own, if you even care.

Satoshi was not the first to leave, and I don't think anybody considered his disappearance as being fishy due to the fact that Bitcoin is Open-Source. It wasn't a warning and it has no link to the fact that people are focusing now on money and profit, which is the main idea of my thread.

After reading the text I even forgot about the name of the thread .

Of course, it's not as if almost the entire last half of it is about the title. I bet you did read the text, didn't you..

I think that Bitcoin is a great alternative to banks, proving that people can make direct transactions without these giant intermediaries. It's also the biggest thing I can think of that demonstrates how free market works, how the price can stay unregulated and do so pretty good. But I cannot forget about the price if I know that today I can buy that and that with this money, but a month about is was significantly more than that...

No comment....

[ReiMomo]

Absolutely! That's right. I think it's due to the bitcoin price. It's very low for now unlike the year 2017 and I do believe that it is one of the reasons why some investors are now backing out and started to lose hope in earning some profit from bitcoin. Maybe this time bitcoin value is now really hard to increase. But who knows when next halving comes, within a day the price of bitcoin will surge and back into $20k. Be ready and be a strong hodler.

[asus09]

So I'm reading daily these news about Bitcoin, Blockchain, cryptocurrencies etc and I sometimes find some surprising articles.

A few weeks ago I found this article I'm still thinking about almost every day, because it's a scary thing going on and it actually is the truth: most of us are not looking at technology anymore and the way Bitcoin could change a lot of things around us for the better, but for the money and profit we can earn.

Back in the day when Bitcoin had close to $0 value, everyone was in it for the tech as almost nobody thought and believed there is a chance of it touching even half a dollar. The fascinating Satoshi story and everything made Bitcoin so interesting and the early investors and adopters of it made a lot of progress. If you watch the documentaries of those people adopting BTC in its early stages I'm sure you'd be so jealous you haven't heard of it "at the right time"...

but but wait a minute.. what are you thinking of when I say "hearing about Bitcoin at the right time"?

I'm sure more than 60% of us think about the price when reading these words. Bitcoin is here as a different payment system and as a solution to a lot of world's problems, and yet we're ignoring all that and going all in for the price?!

That's disrespectful to the early adopters, and that's disrespectful to Satoshi himself. Take a look at his wallets - billions since 2009 and yet not a little part of a Bitcoin has been moved. Dead or alive, doesn't matter and probably nobody knows, but we should take it as a lesson. Instead of focusing on the price and profit, we should all focus more on its influence in the world. We should focus on turning the possibility of it changing the world into reality, and trust me.. the price will come with it.

Here I'm not talking necessarily about miners. I'm talking about all of us who've heard of Bitcoin and are using it. Imagine it's 2009 and Bitcoin had close to $0 value, what would you do? Leave it forever because you couldn't get money profit off it, or would you continue to support it and adopt it knowing its potential? If you were the early adopter, what would you do?

We do have some members here who've adopted Bitcoin in an early stage. Actually, we have a pretty large number of members since then who are still active here considering the community size of 2009-2010.. even 2011. Today almost everybody around the world has heard of BTC or at least the Blockchain technology, but most have only heard about its volatility and that's what scares them away. Another thing is Bitcoin being pretty hard to be understood by newcomers, just like it's been hard for me and everyone else around in the first year of using it.

And now let's talk about the real purpose of this topic. Let's talk about Jered Kenna, who has posted one month ago the following tweet after 3 years of pause:

25 Sep 2019
Everyone scared by the @Bitcoin dip. Amazing how many people stuck around for $31 to $2 and the next year. Passion for the project vs current focus purely on making money.

Link to the tweet: https://twitter.com/JeredKenna/status/1176892921230086146


25 Sep 2019
Also fwiw I don't really hold any crypto. I think I have like half a BTC a few BCH and 50,000XRP.

I love the tech but lost the love for the industry. I still think it's brilliant but I'm not active. If I say something like "buy the dip" or HODL it's what I'd do if still in

Link to the tweet: https://twitter.com/JeredKenna/status/1176947341682794497

And that's scary. Jered Kenna is the creator of TradeHill Inc., the first Bitcoin exchange in the US. If that still isn't scary enough, we have this more recent tweet which gave me goosebumps:

3 Oct 2019
We used to say: "people will be able to send money home to their families for 5 cents"

now we say "keep HODLing for 100k or 1 million"

We used to say let's build something amazing that will create that value and now it's how many people can we get to buy in.

Link to tweet: https://twitter.com/JeredKenna/status/1179820820631359488

Just as a reminder, he's a very early adopter of Bitcoin and he basically lost his love and hope for it. This should be a big warning sign to all of us, because he has accomplished a key point in the Bitcoin adoption by creating the first US exchange and yet we're all looking right now just at the money we could earn from its volatility.

I would give a suggestion as a key to switching the focus from money to technology and adoption, but I don't know what to say except: try finding a way to make a change. Try making a change in the crypto world, not by creating another coin. Focus on Bitcoin and its capability. Make a change and profit will come as a default.

I have a question for all of you: what have you done to make a change in the Bitcoin world?

Here's the news article I read that made me think of this entire post: https://business.financialpost.com/technology/blockchain/why-an-early-bitcoin-millionaire-says-hes-lost-his-love-for-the-industry

Bitcoin is not technology but how to manage profit with investing in bitcoin when price down buy then sell when price is up, many adoption by technology is not really important because my goal is how to get much profit with bitcoin, many people talking about bitcoin have good technology for payment system and have transparent payment history but I think is only benefit for companies.

[BrewMaster]

the mistake here is that you have absolutely no way of knowing what the "early adopters" are doing. whether they are losing hope, leaving or staying,... is not something they would ever publicly advertise for others to know. for example if someone "backed out" and sold his coins and left they won't come tell us about it!!!
and more importantly if you saw someone who is telling you, you can be almost sure they have other agenda in mind that are doing that.