Is bitcoin a failed experiment?

[FightThePower]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

[davis196]

You look like the typical Bitcoin newbie.
At a 10K USD bitcoin price and a bullish trend,you "believe in the future of Bitcoin".
At a 8.5K USD price correction and a possible bearish trend,you don't believe in the future of BTC anymore and you start whining that the price will go to 1 USD in 12 months to 18 months.This just isn't serious,man.
If you wanna sell everything,just do it.Panic selling is something normal,unfortunately,I've done it before.
Stop whining and act like a man.
The question "Is bitcoin a failed experiment?" has been asked 134934565 times on this forum and every time  it's asked at a bearish trend,when the price was falling.Bitcoin is here for more than 10 years and it isn't going anywhere near 1 USD or USD price.

[xvids]

You look like the typical Bitcoin newbie.
At a 10K USD bitcoin price and a bullish trend,you "believe in the future of Bitcoin".
At a 8.5K USD price correction and a possible bearish trend,you don't believe in the future of BTC anymore and you start whining that the price will go to 1 USD in 12 months to 18 months.This just isn't serious,man.
If you wanna sell everything,just do it.Panic selling is something normal,unfortunately,I've done it before.
Stop whining and act like a man.
The question "Is bitcoin a failed experiment?" has been asked 134934565 times on this forum and every time  it's asked at a bearish trend,when the price was falling.Bitcoin is here for more than 10 years and it isn't going anywhere near 1 USD or USD price.

OP is surely a newbie to the crypto industry I think OP never experienced it before.
OP you are free to do whatever you want you could sell it or believe on whatever you think,
But have you seen the chart? do you really think that your assumption would be true?
If you couldn't handle it then just quit it is better than to stress yourself over and over again and anytime the market would go down.
If BTC is a failed experiment then it was so great that it even came up to $20K from being a cents per piece.

[pooya87]

in your eyes (who have been expecting to become rich overnight by buying bitcoin) it looks like a failed experiment because you never bothered to figure out why bitcoin was created in first place. you think the only purpose of it is to give you profit which is obviously wrong. don't worry you are not the first one to make this mistake and lose a lot of money short term trading trying to make profit from daily fluctuations.

[Daniel91]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

If we use your logic than stock market is also failed experiment.
In the last days stock markets all over the world lost a lot values because of coronavirus.
I didn't hear anyone to talk that because of this stocks markets are failed experiment but everybody see great opportunity now to buy many very cheap stocks and make good profit later.
It's the same with btc market,  everything depends simple on supply and demand not coronavirus.

[rijaljun]

What comes by the hype, goes by the fear.

If you believe Bitcoin's future value blindly especially if you come to this world because of the hype, then it makes sense that you want to leave this out now.

I wouldn't say you are wrong or right on your decision, but you may know bitcoin has failed several times and there might be people who think like you before, far before you made this thread and they were wrong.

[mk4]

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months.

Boy, you wish. You're completely underestimating the amount of people that would hoard up BTC if it drops under a thousand dollars, what more $100 and what more sub $1?

the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately.

Who says bitcoin dropped in price due to the coronavirus outbreak in the first place? That's just a baseless theory.

It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.

This part, I'm going to be 50-50. It might not be the best store-of-value today due to the heavy volatility and very low liquidity(compared to other bigger assets), it doesn't mean it's going to be this way forever. Remember, bitcoin is just 10 years old. You know why gold has so much liquidity and is a great store of wealth? Because it's being traded since forever! And were' already concluding that bitcoin is a failed experiment this early on? Nah man.

[vycl87]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

So many people keep asking same questions when Bitcoin price start to fall down. But you should stop and think twice before acting.

For example I found that one for you;
One of our forum members asks in 2011 if the price of Bitcoin fell below $ 9.50, would you sell them all?

Some people here believe the true value of Bitcoins is under $5, and if the inflationary wall at $10 could be breached then it would plummet further. Basically would you sell everything to save what little value you have left?

And the other members answered: NO! Buy buy buy! Bitcoin price is not falling for the first time. There is no need to panic here. There are a lot of similar posts created here in the past, and many people who panicked and sold their bitcoin. And all those who do this are very regretful now.

[Slow death]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

I believe you are making this decision because the price has dropped from $9300 to $8500, right? but that was expected since the price failed to stay above $10500. $10500 is an important resistance, and the 3 times the price tried to break the $10500 always ended with price drops

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

if you haven't hold for at least 2 years or 3 years, how the hell can you complain?

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months.

this is definitely impossible

the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

why people think that with coronavirus the price of bitcoin would increase? many people are dying, many people are in quarantine, why would someone sick think about buying bitcoin? don't people think that with bitcoin coronavirus it will also be harmed?

[sheenshane]

snip-
Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months.

You'd witnessed now a downtrend but that is only a small correction of the Bitcoin price. I have been watching the Crypto market price for almost 3 years and I experienced the worst downtrend last year compared to this year. So, there's nothing to worried about because that's how volatile works on Bitcoin.

Bitcoin will never have a predictable movement. Ever. Unless someone is actually trying to control the market and is trying to fool the mass that they can predict the movement. Then the result might be something we wouldn't want to happen. That is for them to change the movement quickly and since the people are fooled with their nonsense prediction, then the real players would take advantage of it.

Coronavirus outbreak has nothing to do with the price of Bitcoin they are not correlative. And, it is impossible that Bitcoin will become to zero price unless if the whole world against it and banned all sites that may access Bitcoin. Adoption is not the thing here. Blockchain has never been adopted by the first-world countries to support crypto. They have used it for different purposes and that basically it.

[Yaunfitda]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

Can you explain in detail why you think that BTC is different?

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

I think many of us here feel still feel the same, we still believe that owning at least 1 BTC in our lifetime will be game changer in the next 10 years.

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

What do you mean failed? I'm sure you have been here when there are attempts from ETH, remember "Flippening", or even XRP "Rippening"? that was one of a real test for us, the price that time really goes down, many thought that ETH will overtake BTC but look what happens. Maybe your mindset is wrong, BTC is not an experiment per se, and if this an experiment, its a 10 year long experiment that has benefit many people globally.

[Kuffy]

Well this is the first post that I've seen blaming the Corona virus for a drop in the price of Bitcoin. The virus has been around since the 1960s, and it must be amazing that Bitcoin ever managed to get started in that case. The banking elite never let a good crisis go to waste, so they are probably using the current manufactured pandemic to accumulate Bitcoin. They have done it with gold and silver for years, but if they can demonstrate that the price of Bitcoin is unreliable, it will help them to issue their crypto replacement for the failed fiat system.

A good pandemic will convince people that a global financial reset if needed, but most Bitcoin Talk members can see through this ploy. If you aren't a member of Bitcoin Talk, you will just have to keep taking the pills.

[Wind_FURY]

Today I'm thinking of selling my BTC even though it would be a big loss right now I've been with BTC a while and used to the volitility but this time I believe it's different

I was a believer in BTC and the future of crypto I believed having 1 or more BTC was a smart thing to do that many would look back in 10 to 20 years wishing they'd bought some when it was still obtainable by the regular Joe.

Now I feel that BTC will trend down hitting sub 1 dollars prices possibly even 0 over the next 12 to 18 months. the current coronavirus outbreak has been BTCs first real test and it failed hard and failed immediately. It's not a store of wealth and its failure to hold value in a economic down turn is spectacular and visible to all.  Today I think BTC is a failed experiment. What are your thoughts?

Are you a troll?

Bitcoin is a software experiment that "could" fail, but it "has" not failed "yet". It's still leading the war of attrition against all shitcoins.

Plus if it "fails", it has opened the path to stateless, self-sovereign, decentralized cryptocurrencies.

[dentolas]

Although I see where you are comming from, I wouldn't say it is a failed experiment (yet)... everyone knows that BTC can't sustain adoption, we have all seen what happened during certain periods around the last bull run (BTC transfers were taking days) and BTC is still worth around 10k (2 yeas later)
I don't think that BTC will have the tools to deliver adoption, it is extremely volatile and limited in terms of transfer speed and cost (network gets clogged easily)... lightning network is a patch and as far as I know it is not yet working 100%...
And while we discuss this around the oldest crypto, there are several modern ones that can help ...

[Kemarit]

Well if you consider Bitcoin as an experiment, then definitely it can fail.

But then again, it is still fairly young how can we conclude it is is failed then? And as others have said, we have seen worst situations before, remember when the price dip as low as $3000? I can't remember if someone bitching around saying that Bitcoin is a failed experiment that time.

And because of a pandemic, you now lost your faith it in after being in the game for how many years? I think something is not right, this is just another test. And to be fair, even traditional markets are also hit, does it mean that they are a failure?

[Kuffy]

Well if you consider Bitcoin as an experiment, then definitely it can fail.

I don't believe it is an experiment. I think it was created by the central banks to prepare the world population for a new form of currency, and it was created with restrictions that prevent it from ever becoming the dominant world currency. It has been successful both as a development platform, and as the only virtual currency with "real value" rather than a new form of centralised fiat currency. Because of this, it is a real store of value in these uncertain times.

[dupee419]

From the way on how you look at BTC right now, I really think that you should either take time to decide or just simply sell your account and find a new way on how you'll be able to earn money, If you think that BTC is just an experiment and a waste of time then I think you should really move on and find new ways of gaining income.

[slaman29]

You look like the typical Bitcoin newbie.
At a 10K USD bitcoin price and a bullish trend,you "believe in the future of Bitcoin".
At a 8.5K USD price correction and a possible bearish trend,you don't believe in the future of BTC anymore and you start whining that the price will go to 1 USD in 12 months to 18 months.This just isn't serious,man.
If you wanna sell everything,just do it.Panic selling is something normal,unfortunately,I've done it before.
Stop whining and act like a man.
The question "Is bitcoin a failed experiment?" has been asked 134934565 times on this forum and every time  it's asked at a bearish trend,when the price was falling.Bitcoin is here for more than 10 years and it isn't going anywhere near 1 USD or USD price.

Yeah, bitcoin newbies who went in because they got greedy, they thought it was going to make them a lot of money in a few weeks like all the friends who told them to get in now. They don't believe in bitcoin and never did. All they believed in was a get rich quick scheme.

They probably also traded up and down with tether, never even used a real bitcoin wallet their whole life too. So they come in here to whine. Same old story and good riddance I say.

[hatshepsut93]

Every time Bitcoin drops, some newbies snap and panic sell, because they had this strange expectation that Bitcoin can only go up and it's there to make them rich quick. Often such people are investing for the first time, because anyone with experience understands that investment comes with the risk.

Do you want us to convince you to to hodl Bitcoin or are you just venting your frustration? Because if you are not ready to experience this markets downs, you don't deserve to experience its highs.

[mk4]

Well if you consider Bitcoin as an experiment, then definitely it can fail.

I think it's quite reasonable to call Bitcoin an experiment. Well, at least when it started out. Though Satoshi might or might not have been really really confident with Bitcoin's success, it probably could've failed in it's first few months(though it obviously didn't). But yea, though I don't see Bitcoin as an experiment anymore(probably just partly), I'd say as time goes it's becoming a lot less and less experimental.