Bitcoin Forum
May 05, 2024, 03:27:50 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Bitcoin Is sort of a Phoenix which Grows Stronger After it's Notice of Death  (Read 338 times)
hatshepsut93
Legendary
*
Offline Offline

Activity: 2968
Merit: 2145



View Profile
April 28, 2020, 04:12:18 AM
 #21

So, whats your point? Bitcoin is vulnerable and fragile because it can be attacked by theoretical quantum computers and evil governments that don't want to lose their power to print money? The possibility of an attack doesn't mean bitcoin can't survive it.

First, powerful quantum computers have not yet been invented, bitcoin will use a more advanced encryption algorithm to avoid attacks from such computers in the future. It is a lot easier to create quantum resistant encryption than quantum computer that will be able to compromise network.

Second, if some governments were to ban bitcoin, other governments woudn't do that in order to reach a more advanced technological and economic level.

Third, the 51% attack can cause short-term inconvenience to the network and its participants, but the network itself will not be destroyed.

Fourth, it is only speculators who concern about short-term drops in bitcoin price, it doesn't relate to network resilience.

I have zero doubts that Bitcoin can survive nearly anything, the point is that just surviving is not enough, to be called antifragile a system should retain all it's qualities after the attack, basically emerge unscratched and even stronger than before. It can't be always the case with Bitcoin, even something as simple as a big price drop has huge consequences - it undermines its usability as a store of value or a currency. You're saying that only short-term traders worry about that, but short term traders actually like that, because they can make money on sudden price movements.

Regular people aren't comfortable with storing their money in something that can go 50% down in a day. Just imagine receiving salary in Bitcoin and finding one day that you can't pay your monthly bills because the price has crashed.

Or take something like a global ban - sure it's not 100% enforceable, but it doesn't need to be, it can scare off the majority of current and potential users. It won't kill Bitcoin, but it will make it small. Anything that reduces Bitcoin's number of users makes Bitcoin less valuable, the network is less secure when there's less hashpower and less nodes, it's easier to attack it or monitor it.

.BEST.CHANGE..███████████████
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
███████████████
..BUY/ SELL CRYPTO..
1714879670
Hero Member
*
Offline Offline

Posts: 1714879670

View Profile Personal Message (Offline)

Ignore
1714879670
Reply with quote  #2

1714879670
Report to moderator
1714879670
Hero Member
*
Offline Offline

Posts: 1714879670

View Profile Personal Message (Offline)

Ignore
1714879670
Reply with quote  #2

1714879670
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714879670
Hero Member
*
Offline Offline

Posts: 1714879670

View Profile Personal Message (Offline)

Ignore
1714879670
Reply with quote  #2

1714879670
Report to moderator
1714879670
Hero Member
*
Offline Offline

Posts: 1714879670

View Profile Personal Message (Offline)

Ignore
1714879670
Reply with quote  #2

1714879670
Report to moderator
crwth
Copper Member
Legendary
*
Offline Offline

Activity: 2758
Merit: 1251


Try Gunbot for a month go to -> https://gunbot.ph


View Profile WWW
April 28, 2020, 08:14:21 AM
 #22

Please get used to these types of things. Mostly, they are reporting what is showing, like right now, the price keeps going up so the headline could be:
  • Bitcoin is Rising, Bull Market?
  • Bitcoin is a safe haven

You would know what the news is going to show once something happens, especially if there's a drastic change in the price with regards to Bitcoin. There's no point anymore to point out whether or not people should believe in but know what you want to support and continue.

If we are talking about Phoenix's, I remember how the phoenix in Harry Potter symbolizes. It's that it shows that something dead could be alive. Or it's the impossible. It is being done, so if Bitcoin is a phoenix, long live and resurrect if must!

.BEST..CHANGE.███████████████
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
███████████████
..BUY/ SELL CRYPTO..
witcher_sense
Legendary
*
Offline Offline

Activity: 2338
Merit: 4316

🔐BitcoinMessage.Tools🔑


View Profile WWW
April 30, 2020, 07:43:42 AM
 #23

I have zero doubts that Bitcoin can survive nearly anything, the point is that just surviving is not enough, to be called antifragile a system should retain all it's qualities after the attack, basically emerge unscratched and even stronger than before. It can't be always the case with Bitcoin, even something as simple as a big price drop has huge consequences - it undermines its usability as a store of value or a currency. You're saying that only short-term traders worry about that, but short term traders actually like that, because they can make money on sudden price movements.

Huge price drops have been happening for 11 years so far and bitcoin is still alive, got even stronger than before. Also, in case of something that has a potential to become store of value, short-term might mean even couple of years, it always depends on the particular purpose.

Regular people aren't comfortable with storing their money in something that can go 50% down in a day. Just imagine receiving salary in Bitcoin and finding one day that you can't pay your monthly bills because the price has crashed.

Just give these people a right to choose what currency they want as their salary. I believe some of them would choose either a combination of bitcoin plus dollar or pure bitcoin. I myself would prefer the latter, because currency in my country sometimes more volatile than bitcoin.

Or take something like a global ban - sure it's not 100% enforceable, but it doesn't need to be, it can scare off the majority of current and potential users. It won't kill Bitcoin, but it will make it small. Anything that reduces Bitcoin's number of users makes Bitcoin less valuable, the network is less secure when there's less hashpower and less nodes, it's easier to attack it or monitor it.

After bitcoin survives the global ban, it will be the most robust technology ever known, because all people around the world will be aware of such grandioze robustness, bitcoin will be adopted faster than any other technology ever created.

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
kryptqnick
Legendary
*
Offline Offline

Activity: 3094
Merit: 1385


Join the world-leading crypto sportsbook NOW!


View Profile
April 30, 2020, 03:47:16 PM
 #24

Some of Bitcoin’s critics never miss a chance to announce the upcoming end of Bitcoin.

It worsens if the recent HODLERS, saw the critics proof that Bitcoin is going to fail.
On social networks, a FUD sentiment has spread, pushing an outsized number of individuals to sell their Bitcoins in the least costs during a totally illogical way.

Without being aware of the current worldwide economic environment.
I mean the situation with the spread of the COVID-19, many people have lost their jobs and tons of cash. once more, unfortunately.
 
If they understand this, they will join the ranks of HODLERS who totally believe Bitcoin.
Then understand that Bitcoin is sort of a phoenix that always rises from its ashes, and always comes back stronger.
I like the metaphor because Bitcoin has got out of very tough spots and reappeared even stronger throughout its history. It never died per se and never even got close to it in terms of the price but there's certain powerful regeneration that both Bitcoin and phoenix possess. We can see it being strong right now with the price of around $9k which personally for me was a lovely surprise. Bitcoin is often declared dead prematurely, but it never dies. It's sad that many people still engage in panic selling every time, but I hope this problem will be resolved as more time goes by (there'll be more believers and fewer panic sellers).

  ▄▄███████▄███████▄▄▄
 █████████████
▀▀▀▀▀▀████▄▄
███████████████
       ▀▀███▄
███████████████
          ▀███
 █████████████
             ███
███████████▀▀               ███
███                         ███
███                         ███
 ███                       ███
  ███▄                   ▄███
   ▀███▄▄             ▄▄███▀
     ▀▀████▄▄▄▄▄▄▄▄▄████▀▀
         ▀▀▀███████▀▀▀
░░░████▄▄▄▄
░▄▄░
▄▄███████▄▀█████▄▄
██▄████▌▐█▌█████▄██
████▀▄▄▄▌███░▄▄▄▀████
██████▄▄▄█▄▄▄██████
█░███████░▐█▌░███████░█
▀▀██▀░██░▐█▌░██░▀██▀▀
▄▄▄░█▀░█░██░▐█▌░██░█░▀█░▄▄▄
██▀░░░░▀██░▐█▌░██▀░░░░▀██
▀██
█████▄███▀▀██▀▀███▄███████▀
▀███████████████████████▀
▀▀▀▀███████████▀▀▀▀
▄▄██████▄▄
▀█▀
█  █▀█▀
  ▄█  ██  █▄  ▄
█ ▄█ █▀█▄▄█▀█ █▄ █
▀▄█ █ ███▄▄▄▄███ █ █▄▀
▀▀ █    ▄▄▄▄    █ ▀▀
   ██████   █
█     ▀▀     █
▀▄▀▄▀▄▀▄▀▄▀▄
▄ ██████▀▀██████ ▄
▄████████ ██ ████████▄
▀▀███████▄▄███████▀▀
▀▀▀████████▀▀▀
█████████████LEADING CRYPTO SPORTSBOOK & CASINO█████████████
MULTI
CURRENCY
1500+
CASINO GAMES
CRYPTO EXCLUSIVE
CLUBHOUSE
FAST & SECURE
PAYMENTS
.
..PLAY NOW!..
Mulann2
Member
**
Offline Offline

Activity: 686
Merit: 35


View Profile
April 30, 2020, 03:53:32 PM
 #25

That's why when some people will come out saying the end of btc has finally i come, i don't take too serious, time and again btc has proven how strong a coin it is no doubt about that, this few days of constant rise also confirms what we already know,
so whenever btc price dip, buy if you have the money, and if you are holding btc, don't panic sell because an opportunity to sell at good will surely come.
online73
Full Member
***
Offline Offline

Activity: 644
Merit: 101


Ecowatt.io


View Profile
May 03, 2020, 11:35:15 PM
 #26

Hello everyone. Of course, bitcoin resembles a Phoenix bird. Somehow the whales of the market need to manipulate the crowd. How else can they make the crowd panic and sell Bitcoin - only by increasing panic moods. But as soon as people are less exposed to the fear of falling prices to $ 1, there is still some way to get people to get rid of digital gold. I believe that just in case of any fall, you need to buy more and more. I’m not afraid of the cost of bitcoin per dollar. The day that this happens, I will be the happiest person, because all the money will be spent on bitcoin. But, this is just a dream. Perhaps this is Bitcoin mania on my part. But this is cool when a fairy tale begins to be transferred to financial capital. “Burned to the ground and reborn from the ashes” Yes, Bitcoin knows how to be a Phoenix bird.
kecha1
Newbie
*
Offline Offline

Activity: 44
Merit: 0


View Profile
May 04, 2020, 09:53:17 AM
 #27

This is true, bitcoin gets stronger every time, but how many lives does it have?
tbterryboy
Sr. Member
****
Offline Offline

Activity: 1918
Merit: 322


View Profile
May 04, 2020, 08:52:30 PM
 #28

This is no longer a new thing, anyone that doesn't want to believe in Bitcoin by now have just chosen not to believe in it and you shouldn't force them, it's their choice.

Those are the people I usually laugh at at the end. They never learn from their past experience, this is not the first time that it has been said that Bitcoin is going to fail, as a matter of fact it has been said many times and was repeated in 2017 the same year that bitcoin went on a bull run; they said everything they said and poured all their hatred out on Bitcoin, but that same year they were all disgraced. So if anyone should say that they were not aware of all these things that have been happening, then I don't really know what to say to such a person.
thesmallgod
Full Member
***
Offline Offline

Activity: 1498
Merit: 129


View Profile
May 04, 2020, 09:06:24 PM
 #29

How would you think they will be able to join bitcoin if they lost jobs? you just said there is much fud about bitcoin ending, If you happen to be one of those guys that had lost jobs but have little money, will you put it on bitcoin even though you have been hearing fud about bitcoin? I am sure your answer will be NO. And this is what it is. No one is certain what will happen to the price in the next 1 hour. Investing in crypto is very risky and I won't encourage anyone that is struggling to meetup end needs to put his or her little money in crypto unless he has some spare money
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!