Is bitcoin a failed experiment?

[Artemis3]

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?

Under 1$ after a year? Pretty much impossible, bitcoin is not bolivar lol.

The amount of people willing to buy cheap bitcoin overwhelms the likes of you, go ahead and try selling all your bitcoin, only to see others buying it. Such a low price for an asset that is wanted cannot simply drop like that.

The conditions for people to want or not want bitcoin have not changed much. If anything, more people want it compared to the amount if bitcoins available in the market, which is the reason the price is, 8 thousand times more or what your perceived value is, and have been for more than a decade.

Doesn't matter what you think, its what the collective (market) thinks. Want to sell? Fine, others want to buy. But its useless to you? But its useful to them.

Its not a religion, so its not about believing. Go ahead and sell if you like, see you in 10 years evaluating your decision.

My opinion is that Bitcoin is a giant success.

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[Baofeng]

Experiment or not, it hasn't failed, on the contrary it grew in the last 10 years or so.

We feel the rant of the OP, for every huge drop on the price, there will be some newbie who's going to be frustrated just because they see their portfolio going down and then go to this forum with there ramblings telling everyone how they feel about it. Now, when the price goes up again, they calling BTC a life saver and hearing them shouting "to the Moon".

It's crazy how someone will make a sudden U-turn and label it a failed experiment.

[cr1776]

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?

There were people saying very similar things here and on slashdot in July 2010 when I first read about it.  Anyone who ignored them and mined (or later bought) has done very well.

Gold was down this week just as was bitcoin. Is gold not a store of value?   Watch them over the course of years, not days, weeks or even months.

Nothing has failed except people not understanding or at least having patience.

[Twinkledoe]

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.

I totally agree! If the OP feels that bitcoin will go down below at 1$, then sell whatever he has. It is his own decision anyway. But if he has been in this crypto for so long and witnessed the ups and downs movement of btc countless times, the price that we are experiencing right now, is still higher as compared to previous months or years. Why would he think that btc will fall that hard? So I think, he doesn't really believe in btc in the first place.

[wdrs]

I think that Bitcoin is the best that has been done for the global economy and I also willow that bitcoin is the future. Sooner or later, Fiat will disappear, and cryptocurrency will reach a new level. Investing in cryptocurrency means securing your future. The main problem is that people want profit right away, and give up when the price of cryptocurrencies drops. Investing in cryptocurrencies is not for wimps, you need to have patience. In vain you decided to sell Bitcoin, you will be very upset if the price rises again, and this will definitely happen 

[Taskford]

I don't know why or people think Bitcoin is a failed experiment while the fact is Bitcoin is this coin is alive up till now and compare to the other alt's existed this is the most adopted for more several years so for this we can call it that Bitcoin is a huge success since I'm sure that you are earning with this to and without bitcoins we don't have an alternative ways to earn.

[squatter]

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

Real test of what? What does an epidemic have to do with the price of bitcoins?

I see consistently growing activity on the network, more than 300,000 transactions per day at the moment. I also see increasing consumer usage, as well as consistently climbing mining difficulty.

Not to mention that Bitcoin has been running with virtually zero downtime for more than a decade. Failed experiment? I think not!

[blachken]

Often people like that invest for the first time, because anyone with experience understands that investing has risks. You look like a typical Bitcoin beginner. They have been doing it with gold and silver for years, but if they can show that the price of Bitcoin is unreliable, it will help them issue their crypto replacement for a failed fiat system. Bitcoin has been here for more than 10 years and won't come close to the price of 1 USD or USD. In your eyes (who hopes to become rich overnight by buying bitcoin) it looks like a failed experiment because you never bother to find out why bitcoin was made in first place. don't worry you're not the first person to make this mistake and lose a lot of money in short-term trading trying to make a profit from daily fluctuations.

[FlightyPouch]

Another FUD? Really? The price fell down in an instant, so what? It fell way lower in the past and I don't really care. Coronavirus has nothing to do with the price changes that are happening and if you really are supporting bitcoin, you should know that. That bitcoin is not a failed experiment, if you really support bitcoin, from profit or not you will be there.

[Daniel91]

I think it is only those who are unsuccessful in crypto investment that uses to call bitcoin a failure experiment. Bitcoin are a decade of legacy and it is continuing to show good performance in the market. Since it is started, it makes several investors got rich by its popularity. So i think it is never to be a failure experiment.

In fact, I'm sure that all people who joined crypto market at least 2 or 3 years ago are already in profit.
All others should simple wait and hold their funds and they will be in profit soon.
In any market we have the same rule : "don't sell cheap" 😁
Patience is the key and it's really to early to proclaim that bitcoin is a failed experiment. 

[electronicash]

Another FUD? Really? The price fell down in an instant, so what? It fell way lower in the past and I don't really care. Coronavirus has nothing to do with the price changes that are happening and if you really are supporting bitcoin, you should know that. That bitcoin is not a failed experiment, if you really support bitcoin, from profit or not you will be there.

if it is said that the experiment failed, I think from the beginning of the establishment of bitcoin, the price will not rise to the present. especially now that bitcoin is traded a lot on the stock market, and many brokers provide pairs. I think fud is a common thing in trading, for those who are already profitable it will sell it and will buy it back at a cheap price.

from the very beginning BTC is actually just an experiment and i think the dev planned to reset it but miners continue to mine and never stopped so its just how it is. they didn't reboot it. but its just nonsense to see BTC will be worth ZERO after 12-18months. many people had bought BTC when it touches the $3k since it was assumed to be the bottom. ZERO is just too much of a fud.

[Yamifoud]

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?

How disappointed you are mate and trying to tell something different from my experience. I don't know how hard you become a Bitcoiner and then just easily quit and slip to that kind of negativity. Yeah, it was of big different trend compared before but I can't see that Bitcoin is a sinking boat instead, we are just like a skyrocket moving high and high every year.

Too bad to think of you that you are coward to face the risk that you've been in a while. I understand that crypto investment isn't in your comfort zone...and yeah, it is better you decide to quit earlier before you suffer more losses.

[FaithInCrypto]

Dear OP,
The moment you heard about Bitcoin, got interested in it, bought it and even registered here in the group is proof that Bitcoin is NOT a failed experiment. It has been around for more than a decade and continuously evolving for the crypto community.  

I think it isn't BTCs fault why the coronavirus keeps spreading, there are still other reasons why the virus keeps existing.
Anyway, cryptocurrency, especially the rates is always a roller coaster ride, it isn't always upward. If you are someone who gets stressed easily because the market is all red then investing in cryptocurrency is not for you. Better find some ways to invest your hard-earned money in something that you're always comfortable, where you think you won't suffer a loss, I am not sure though if that kind of investment does exist. Good luck!

[Gheka]

I don't know why or people think Bitcoin is a failed experiment while the fact is Bitcoin is this coin is alive up till now and compare to the other alt's existed this is the most adopted for more several years so for this we can call it that Bitcoin is a huge success since I'm sure that you are earning with this to and without bitcoins we don't have an alternative ways to earn.

Negative ingredients and those who want others to sell bitcoin cheaply are an integral part of this market, so I'm not surprised at the sources that bitcoin is a product, a failed experiment, these people are just trying to create more fake information, hitting the weak mentality of others, ignoring their information is the best way for us to reduce doubts and not to worry. Regardless of what bitcoin is in life and in the marketplace, we should agree on the fact that this product offers too much profit, the fact has responded and proved the value and success of bitcoin

[adzino]

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?

It is still a smart thing to do. Hold your coins before its too late. Just because the price is falling now, does not mean that it is going to keep on falling forever. Look at the stock markets. The are declining too! The fall of this price isn't as bad as the stock market crash. The 15% drop you are talking about took place in last few weeks. This is not fair, if you compare the price in this way. Look at the long run price increase. We are more than 120% above if you compare the price with last year.

[Huskerz1]

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?

It is still a smart thing to do. Hold your coins before its too late. Just because the price is falling now, does not mean that it is going to keep on falling forever. Look at the stock markets. The are declining too! The fall of this price isn't as bad as the stock market crash. The 15% drop you are talking about took place in last few weeks. This is not fair, if you compare the price in this way. Look at the long run price increase. We are more than 120% above if you compare the price with last year.

You're not hearing what this person is saying.  BTC FAILED.  Miserably.  When it should have mattered most, it failed.  The theology behind the purpose of BTC as an alternate currency when the world is breaking down was proved to be a false theology.  BTC and crypto is a gamblers game.  It'll never be anything more than that.

[NeilLostBitCoin]

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?

I guess your experience in crypto is like what your rank here in the forum. All I can say is Stay for much longer then Thank me later.

[Zeke_23]

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

Are you serious? After getting used to it and realizing that it would be a big loss on your side, you're still thinking that way.

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.

You are a believer, but you don't trust it enough. After its price suddenly drops, you are now thinking that it will continue further.

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?

You just feel that its price will go down without any analysis nor investigation about where its price will fall in the next couple of months.

If you think that BTC is a failure, you will regret thinking that way in the future.

[agentx44]

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?

Considering the success bitcoin was able to reach, I don't think we can consider it anymore as a failed experiment. If it was a failure, then it would have ended up way back and was not able to remain at the top for so long. With the upcoming bitcoin halving, we should be wiser on what we are doing with our bitcoin. The halving would surely boost up bitcoin's value so it would be best if we are going to set ourselves ready for it and make the most from it. It would be best to try than to regret if ever the said circumstance would happen.

[imstillthebest]

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?

Considering the success bitcoin was able to reach, I don't think we can consider it anymore as a failed experiment. If it was a failure, then it would have ended up way back and was not able to remain at the top for so long. With the upcoming bitcoin halving, we should be wiser on what we are doing with our bitcoin. The halving would surely boost up bitcoin's value so it would be best if we are going to set ourselves ready for it and make the most from it. It would be best to try than to regret if ever the said circumstance would happen.

it wasnt totally a failure but it only faces many obstabcles and hindrances especially on the past but bitcoin is just strong and look where it at now ? somehow succesful but not totally because bitcoin is still not acceptable on some societies and its characteristic is also not perfect  . 

anyways thats us , we are a believer at first but suddenly our beliefs changed , it could be because of a single mistake or any other reasons  so i cant directly blame the op if what did he acted on here  .