Is bitcoin a failed experiment?

[kemoglo]

Bitcoin is still young to make any conclusions about it. So it can't be called "failed experiment". Bitcoin's price is continuously growing despite high volatility.

In any case it can't be a failed experiment now with so many people behind it, either developing or just supporting it. Considering the massive community behind Bitcoin I'd say it's far from being a "failed" anything. Even with price corrections and people panic selling, the more experienced holders know better than to just sell

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[whyrqa]

I believe that bitcoin has all the prerequisites in order to become an international cryptocurrency.  And first of all, bitcoin deserves attention due to the fact that it will protect any person from dehydration of his savings, since fiat funds become cheaper every year, and goods become more expensive.  The magnitude of inflation is astounding and Bitcoin can fix this problem.

[Quidat]

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.

People dont think up this thing specially for those who do tell that bitcoin is a bad project or going to be dead or any other negative words thrown at it without even realizing or to look back in past 10 years on how this thing withstand all of the challenges from bad reputation thru legal aspects but still its standing as of this moment and indeed remain on the top and with that alone it does already prove out that this coin isnt something that can be easily treat of as a failed or useless one.This is why its better to ignore those words that wont really be that relevant or doesnt help out and just giving out bad vibes on the entire community.

[boltz]

Again FUD on Bitcoin ? I think I saw to much FUD to actually believe that Bitcoin is an experiment gone wrong or a fail one. Bitcoin purpose is the same as before and just because the price is sitting duck for now , doesn't mean it won't rise again or that the tech is not used anymore because contrary of what are you saying the truth is the opposite because more and more brands are implementing Bitcoin as a payment gateway and furthermore the adoption is still on the rise.

[panganib999]

I believe that bitcoin has all the prerequisites in order to become an international cryptocurrency.  And first of all, bitcoin deserves attention due to the fact that it will protect any person from dehydration of his savings, since fiat funds become cheaper every year, and goods become more expensive.  The magnitude of inflation is astounding and Bitcoin can fix this problem.

Our deaire for bitcoin that it will be going to be international currency is strong, however bitcoin as of now is not gaining as if people are slowly leaving it and causes some dehydration for some like me in my savings. Fiat currency does not getting cheap it is just the inflation that is getting higher aside it does not make any sense if inflation is talked when these currency goes with anything.

[Oceat]

A typical newbie would only whine like this as if they know why Bitcoin was created in the first place. You (OP) should change your point of view and instead become an open minded to everything while learning more and more just by reading with different books and guide in how you will be able to become successful in the future.

[bitcoinvirtualcards]

No, bitcoin is not a failed experiment. We are just getting started and it's early in all this. You can do what you want but I wouldn't sell.

[LogitechMouse]

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

A sign that you are a newbie investor and your belief towards Bitcoin is a negative one. You can't even take the volatility that is within Bitcoin then why did you invested on it at the first place? Before investing, you must do some research first and not just throwing your money away to an investment in which you don't know.

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.

Correction. Bitcoin is 11 years old right now so you should say "11 years ago" than "10 to 20 years ago".
Well, nobody expected that this will happen to Bitcoin 11 years ago so it will go down to one word "trust".

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 know that predicting the price of Bitcoin can be use by all people but you are predicting base on nothing. Base on the stupid news coming from the news channel blah blah. Total bullshit. If you are here to say negative thoughts about Bitcoin then you can leave your "newbie" account here and find another investment.

My opinion, give some time for BTC to be used globally. At this moment, it is not a failed experiment because it achieved so many things in a short amount of time. Nahhh just leave

[Moshaid]

I strongly disagree with you that bitcoin is a failed experiment, yes the significant drop in price is something most investors needs to be worried about. But over the past few years bitcoin has proven to be more than just any experiment, it's longevity goals is something everyone should be more concerned about rather than pitching the mindset that bitcoin is a failed experiment.

[Assface16678]

I believe that bitcoin has all the prerequisites in order to become an international cryptocurrency.  And first of all, bitcoin deserves attention due to the fact that it will protect any person from dehydration of his savings, since fiat funds become cheaper every year, and goods become more expensive.  The magnitude of inflation is astounding and Bitcoin can fix this problem.

Our deaire for bitcoin that it will be going to be international currency is strong, however bitcoin as of now is not gaining as if people are slowly leaving it and causes some dehydration for some like me in my savings. Fiat currency does not getting cheap it is just the inflation that is getting higher aside it does not make any sense if inflation is talked when these currency goes with anything.

One of the thing why they create the bitcoin because they want to make to convert the use of physical currency into digital currency. So the process is building faster than the old way. But that is not expected that see the potential of the bitcoin to make a profit to them. In the year it is created, only a few people appreciated the use of bitcoin and made an investment in it. Even it takes a long time before they get their profit or payment still, it is profitable. After many people getting rich continuously there are now a massive amount of people make investment too, and that's why it contributes a lot to the world market of the cryptocurrency, and also other developers create a duplicate of the bitcoin because it is already successful also to distribute the whole price of the bitcoin and not cost too much for a single bitcoin.

[FanatMonet]

Well, in general, no one should invest in cryptocurrency, in the hope of some very strong and rapid growth. Not in vain, after all, the main rule is "Do not invest in cryptocurrency more than you can afford to lose." Anything can happen, and the coronavirus only once again shows how vulnerable not only cryptocurrencies, but the entire financial system of the world.

[xilosoft2.0]

If you want to sell everything, just do it. Panic selling is a normal thing, unfortunately, I have done it before, for new investors who want to study this ecosystem better, nothing is instant, don't trust unclear signals, especially if the offer will multiply your capital at certain times. .

[AmoreJaz]

seriously? do we still have to deal with this kind of question in crypto?

[Bohxz M4p4gm4h4l25]

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?

Here is the thing, no one can say what will be the future of btc because it was still new even it was almost 11 years in existence. Many are comparing it to gold well in reality it is very different to it. Another thing is that we are not aware what will be the behaviour of btc if it will experience recession because the last recession happens year 2008 and as we all know 2009 was the year it was created. In conclusion, btc can be something or not in the future it really depends on us whether we would like to risk our money in case it will become something in the future.

[Latviand]

If you could feel that you are losing money from your investment, getting out of it through selling your stocks, is an option but be sure that you won't regret not holding to that "chance" to earn profit someday by risking at this moment. If you are not new in this investment thing, you should know by now how volatile the market is, in nature. Its market price do rise and fall most of the time. But have you observed why there are investors who are holding despite of huge loss whenever the price is falling? Simply, they know the meaning of the word "nature" referring to nature of market volatility. They know that the market will again rise, and it is just a battle of patience.

Bitcoin is not a failed experiment. Decentralization, market price instability, and other characteristics are things which are in nature of blockchain technology. I do look at Bitcoin and other cryptos as under progress and development. These kind of currency is now being widely recognized by many people and as years would go by, more countries could adapt such digital currency.

[thesmallgod]

What has the coronavirus has to do with bitcoin? there has never been a huge decline in the price of bitcoin since the coronavirus of a thing start so I begin to wonder on which basis you think the bitcoin is a failed project. If you are saying this, what do you expect people that buy bitcoin when the price of it was $15k. I bet if you are the one that invested in bitcoin when the price was high time high, you must have done something terrible. I just wanna tell you the game is not going to be over and bitcoin is here to stay.

[retnoanjani]

Again FUD on Bitcoin ? I think I saw to much FUD to actually believe that Bitcoin is an experiment gone wrong or a fail one. Bitcoin purpose is the same as before and just because the price is sitting duck for now , doesn't mean it won't rise again or that the tech is not used anymore because contrary of what are you saying the truth is the opposite because more and more brands are implementing Bitcoin as a payment gateway and furthermore the adoption is still on the rise.

This pattern often appears when it's bearish, right? when new people arrive because of the price of the bitcoin pump, then fomo, finally loses and then blames and says: bitcoin scam, bubble, failed experimentation, and the like. Though it is his own fault for not studying the bitcoin ecosystem well. Most newbie with such a model would want instant wealth with bitcoin, without any preparation, it will not get anything, except luck.

[whyrqa]

I believe that bitcoin has all the prerequisites in order to become an international cryptocurrency.  And first of all, bitcoin deserves attention due to the fact that it will protect any person from dehydration of his savings, since fiat funds become cheaper every year, and goods become more expensive.  The magnitude of inflation is astounding and Bitcoin can fix this problem.

Our deaire for bitcoin that it will be going to be international currency is strong, however bitcoin as of now is not gaining as if people are slowly leaving it and causes some dehydration for some like me in my savings. Fiat currency does not getting cheap it is just the inflation that is getting higher aside it does not make any sense if inflation is talked when these currency goes with anything.

It seems to me that only current cryptocurrency users are interested in the further development of the cryptocurrency market and no one else is worried about this.  One way or another, most cryptocurrency communities hope to make huge profits due to the volatility of bitcoin and few people think about future prospects and the possibility of using it as a means of payment.  if you look at the current situation today, then only negative news scares people away from bitcoin, because no one wants to mess with obscure things or with very risky investments.  maybe I think incorrectly, but only with the state support of cryptocurrency in many countries, Bitcoin can take a high place then in the whole world.

[panganib999]

Again FUD on Bitcoin ? I think I saw to much FUD to actually believe that Bitcoin is an experiment gone wrong or a fail one. Bitcoin purpose is the same as before and just because the price is sitting duck for now , doesn't mean it won't rise again or that the tech is not used anymore because contrary of what are you saying the truth is the opposite because more and more brands are implementing Bitcoin as a payment gateway and furthermore the adoption is still on the rise.

This pattern often appears when it's bearish, right? when new people arrive because of the price of the bitcoin pump, then fomo, finally loses and then blames and says: bitcoin scam, bubble, failed experimentation, and the like. Though it is his own fault for not studying the bitcoin ecosystem well. Most newbie with such a model would want instant wealth with bitcoin, without any preparation, it will not get anything, except luck.

Well everything is natural according to my observation, it is just that there are people who can't believe why is this happening. Bitcoin isn't an experiment nor a project, it is supposed to be an alternative for payment on which now is on the process of taking big steps with finance. Newbies should stop asking why these things are happening, they should be more a reader and observer right now instead.

[iamaruf]

You are too noob in crypto world that's why you are telling that.Do you have any idea about bitcoin? if it really going down to 0$ then why btc pumping and dumping now? Do you really know how bitcoin works? but it's really good if you take break from btc because without proper knowledge and believing holding bitcoin is not a good decision.But I think you should check the price of bitcoin after 12 months.but after checking the price you shouldn't regret yourself