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Author Topic: Is Bitcoin still a people's currency?  (Read 992 times)
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December 27, 2019, 01:52:01 PM
 #1

I've been discussing Bitcoin in a couple of forums, and I'm shocked by the vitriol and anti-Bitcoin passion that I'm finding. It seems that the mass media FUD has turned away the very people who could benefit most from Bitcoin. In contrast, Bitcoin is becoming stronger every day, and is moving towards becoming a store of wealth, and it seems to be moving into the ambit of the rich and the knowledgeable. I'm giving up on Bitcoin evangelism, and concentrating on fattening my wallet.

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.

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December 27, 2019, 02:37:34 PM
 #2

storage of assets in digital form such as cryptocurrency seems to be a trend of the modern.
cryptocurrency was chosen as an alternative to gold.
but on the security side, the digital world is not 100% really safe, we as cryptocurrency users who for a long time certainly know about this.

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December 27, 2019, 02:53:53 PM
 #3

storage of assets in digital form such as cryptocurrency seems to be a trend of the modern.
cryptocurrency was chosen as an alternative to gold.
Not just a trend but  considered as new economic class in the recent times. Bitcoin with a whopping $7000 (current) price is considered to be the most expensive crypto we had so far and it seems that it will still be long for it to be at top. Gold on the other side is still the one that wealthy people used in storing value, for what reason? only because it is not volatile unlike bitcoin.

but on the security side, the digital world is not 100% really safe, we as cryptocurrency users who for a long time certainly know about this.
I bet you are talking with potential hacking on digital storage, in that case we are still not hacked-proof era since the technology is evolving and so the hackers do. But if we are talking about the security of data, there is no question about it as it is running on blockchain technology where data is unalterable.

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December 27, 2019, 03:18:03 PM
 #4

and I'm shocked by the vitriol and anti-Bitcoin passion that I'm finding

People tend to go by media as "the information". And what media said?
* This and that known celebrity / rich person is against Bitcoin
* Bitcoin had a bubble and it popped
* Banks officials said that's not safe to invest money into Bitcoin
* Bitcoin exchanges are periodically hacked
* Bitcoin is used by criminals

As laughable as these statements may look for us, many see this as an image of Bitcoin. Something strange, something they should not touch.

How misinformed you imagine that people can be if some wanted to invest in facebook's stable coin?! Nobody cared it is not launched and it's stable coin. But a brand like Facebook gave it some sort of legitimacy.
Who's that missing imaginary Satoshi guy?!

No. We live in our world which is far from average Joe's world. We have different sources of information.
Yes, it's hard to get them to this side of the fence. For many it's almost impossible.


PS. At the next bubble, media will tell about investing into Bitcoin.. probably near to the ATH, leaving others disappointed/angry against Bitcoin as soon as it'll start dropping.

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December 27, 2019, 03:27:41 PM
 #5

Although Bitcoin is the most expensive cryptocurrency and the most profit giving asset of this decade but still common people are afraid of buying Bitcoin. The reasons are :
1. Bitcoin is not regulated and most of the people treat it as illegal asset.
2. It is very volatile in nature, due to this common people are afraid of investing into it.
3. People are still not aware of blockchain technology and its benefits.

I think it  is still needed to educate the common people about blockchain and cryptocurrency.

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December 27, 2019, 03:28:30 PM
 #6

I've been discussing Bitcoin in a couple of forums, and I'm shocked by the vitriol and anti-Bitcoin passion that I'm finding. It seems that the mass media FUD has turned away the very people who could benefit most from Bitcoin. In contrast, Bitcoin is becoming stronger every day, and is moving towards becoming a store of wealth, and it seems to be moving into the ambit of the rich and the knowledgeable. I'm giving up on Bitcoin evangelism, and concentrating on fattening my wallet.

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.
For now, in my opinion, bitcoin was just an alternative currency since bitcoin has no other uses for buying it was not yet accepted like fiat money in a physical store or even online there are only a few websites that is accepting bitcoin as a payment method so I guess bitcoin was just a secondary currency today. But as the time passes in my opinion bitcoin will be the people's currency surely today the fiat money is what is mainly used but in the future when everything is done digitally I think bitcoin will be a great currency.

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December 27, 2019, 03:29:22 PM
 #7

Unfortunately there will always be only few who hear but verify when bombarded with contradictory informations. If you understand what a community is trying to achieve and know it's right & safer, nothing will shake you too much.

Well, i will most certainly restart & intensify my own evangelism when decentralized platforms become easy to use & with little to no chance of giving my "students" problems in the future. Additionally, it will be great to have them on decentralized platforms that can solve most of their problems sustainably and them not having to depend on government too much.
I really don't bother about getting people to listen or accept what I say. I know millions of people will eventually listen at the right time, no matter what. They will find crypto world hard to resist.



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December 27, 2019, 03:34:25 PM
 #8

Bitcoin is the honest currency, and as such resonates and will continue to resonate with the masses as time goes on. Bitcoin really represents the evolution of money from trust in governments to trust in code. The future is already here and it is Bitcoin indeed.

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December 27, 2019, 03:57:20 PM
 #9

Absolutely mate, bitcoin's popularity has increased over the years and many online marketplaces have started accepting it as a payment method. However just as the OP rightly said, it is gaining roots as a store of value which is good though it sorts of goes contrary to what Satoshi Nakamoto had in mind. Let's keep fingers crossed and see what the future holds for blockchain technology.

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December 27, 2019, 04:02:27 PM
 #10

I've been discussing Bitcoin in a couple of forums
Hey Jet Cash, long time no see!

I'm curious as to what these forums are that you're finding the anti-bitcoin sentiment on.  You don't have to tell me, but I am interested to know what they're related to.  There was a forum for skeptics that I used to frequent some years ago that had a lot of members who thought bitcoin was a scam, but from what I saw about a year ago a lot of them have changed their opinions.  That was kind of funny, actually.

And you don't have to proselytize anyone, really.  The upcoming generation will probably grow up knowing what bitcoin is, and bitcoin will get mainstream one day.  You have to remember that it's only ten years old, which is nothing.  People will either adopt it or they won't, and I doubt you're going to change anyone's mind unless you can show them how much money there is to be made.  That usually does it.

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December 27, 2019, 04:12:33 PM
 #11

PS. At the next bubble, media will tell about investing into Bitcoin.. probably near to the ATH, leaving others disappointed/angry against Bitcoin as soon as it'll start dropping.
You think it is done on purpose? We know how mainstream media is entangled with the big bucks industry, could it be that this is their plan of making crypto repugnant to ordinary, non-tech people? Seems like a plan, also motive is obviously there so...
I think it is somewhat deliberate, something is cooking and bitcoin isn't in the menus.
 
As to this thread main question, I think that majority of minted coins are still in the same wallet as 5years ago.
People hodl and there is no doubt in my mind, that those are The people, genuine folks, early adopters and enthusiasts.
So no matter what the mainstream is propagating, BTC is still peoples first choice. Sometimes even the only choice.    

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December 27, 2019, 04:12:46 PM
 #12

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.

it takes many years for a big revolution to happen... Bitcoin is still in its early stages when it comes to government acceptance and the creation of laws that benefit all who use bitcoin. We cannot expect news channels not to speak badly about bitcoin, because for lack of bitcoin laws they are the first to comply with the laws and comply with the laws they not encouraging people to use bitcoin or will warn of the danger of use bitcoin. This is not new, there are many things that years ago was censored on TV's and today all TV's pass the same things that censored in the past


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December 27, 2019, 04:13:19 PM
 #13

Since Bitcoin is continuously growing, they're spreading fud as well to prevent that growth of Bitcoin. Who wouldn't get scared when it involves money online. That's why I think it's just a matter of time and they will be able to realize bitcoin's purpose. And it can be people's alternative currency when the times comes. But I also think it will be longer than expected..
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December 27, 2019, 04:32:12 PM
 #14

Most people still don’t understand Bitcoin. Acceptance and adoption will take a long time and it’s going to be a very gradual process.

 
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Twentyonepaylots
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December 27, 2019, 04:55:42 PM
 #15

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.

it takes many years for a big revolution to happen... Bitcoin is still in its early stages when it comes to government acceptance and the creation of laws that benefit all who use bitcoin. We cannot expect news channels not to speak badly about bitcoin, because for lack of bitcoin laws they are the first to comply with the laws and comply with the laws they not encouraging people to use bitcoin or will warn of the danger of use bitcoin. This is not new, there are many things that years ago was censored on TV's and today all TV's pass the same things that censored in the past


Yep, but it ias good to know that the revolution has already started. We are still far ,yes, from what are we aiming with cryptocurrencies which is to be accepted and widely known so people would interact more using crypto. It is good to see how several countries did already initiate the process of currency revolution.

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Youghoor
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December 27, 2019, 05:17:51 PM
 #16

I've been discussing Bitcoin in a couple of forums, and I'm shocked by the vitriol and anti-Bitcoin passion that I'm finding. It seems that the mass media FUD has turned away the very people who could benefit most from Bitcoin. In contrast, Bitcoin is becoming stronger every day, and is moving towards becoming a store of wealth, and it seems to be moving into the ambit of the rich and the knowledgeable. I'm giving up on Bitcoin evangelism, and concentrating on fattening my wallet.

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.

This is very true. In my country, about 80% of the entire population have been fed with a FUD that Bitcoin is just an investment platform which has made some people lose a huge some of money. And this has been so because, scammers and fraudsters took advantage of the raise in the market value of bitcoin in 2017 to establish investment companies to lure people to invest in their so called bitcoin which will made them 30% profits within a month.  Due to this scam,  a lot of people in my country see bitcoin as  a scam.

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December 27, 2019, 05:18:59 PM
 #17

there will still be sentiment that makes fiat not completely collapse, some economists always question transparency about gold as fiat reserves as a benchmark of inflation, this has long been manipulated by usd. If the world turns their trust to more transparent money, fiat will still be used. In the same position bitcoin will continue to run as an alternative because the world still needs a physical and controlled currency.
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December 27, 2019, 05:34:21 PM
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 #18

The media is a powerful entity and is capable of sweeping away the interest of the laymen from crucial developments such as bitcoin and other nice things that has helped us progress lately, that's why entities with dark intentions often hire the media to disseminate their deeds subconsciously. This has worked in the current times, just see the continuous mud-throwing between the left and right wing supporters. The media is involved, for damn sure, and has helped each sides gain followers by just publishing articles or airing news that may or may not be true for the benefit of whoever paid them.

Anyway, when the masses realize what they're missing, they'll just flock into bitcoin and crypto and tell everyone "I told you so!" even though they were brainwashed by the paid media at first.

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Aikidoka
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December 27, 2019, 06:16:03 PM
 #19

Most people still don’t understand Bitcoin. Acceptance and adoption will take a long time and it’s going to be a very gradual process.
Indeed, it will take a long time for bitcoin to be accepted worldwidly. The current process now is that a lot of people will join bitcoin community and it's gonna be so famous day by day till the government will accept it as soon as possible.
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December 27, 2019, 06:30:51 PM
 #20

I've been discussing Bitcoin in a couple of forums, and I'm shocked by the vitriol and anti-Bitcoin passion that I'm finding. It seems that the mass media FUD has turned away the very people who could benefit most from Bitcoin. In contrast, Bitcoin is becoming stronger every day, and is moving towards becoming a store of wealth, and it seems to be moving into the ambit of the rich and the knowledgeable. I'm giving up on Bitcoin evangelism, and concentrating on fattening my wallet.

I thought that Bitcoin might become one of the currencies used by people when the fiat systems collapse, but I think this will only be a minor use. I believe that fiat cash will be used for a while, and silver coins could become a longer term solution. Of course it all depends on the cryptos that are introduced by the various governments, and whether there will be any trust in them.
I still believe that Bitcoin can help if fiat (just the main ones like EUR and USD will do the trick) collapses all of a sudden. However, there are some issues developers have to work through for Bitcoin to be actually useful to a big number of people. I don't understand where silver coins come from. I mean, why do you think people will turn to them in a Technotronic era where digitalization takes over everything it can. Moreover, carrying coins is just annoying and uncomfortable, and a lot of them can weigh a lot, one got to count them every time to give them to someone and they can spoil over time.

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