Are people giving up on Bitcoin too quickly?

[Question123]

Who are these people? Maybe they never believed in the technical developments or never really understood how bitcoin works in the first place? There are many pretenders in the space so they could be one of them. They only bought btc for the sake of trading them at a profit.

Well that is life there is a lot of haters of the bitcoin because they are saw the progress of the bitcoin is very good and many people help by this opportunity. Maybe those people who do that is one they lost a lot of money in investing their bitcoin but if that is their mindset about bitcoin is up to them but we are here is believe to the bitcoin of it can do.

[erikoy]

Yes before that I am new to bitcoin I was able to make losses in investing due to afraid of bitcoin getting crash. Now it seems that bitcoin will not be easily going to end because it is a P2P system where all who had been downloading bitcoin software are the one running the bitcoin. Bitcoin will only crash if all will.be not using bitcoin anymore. So, now Hodl is one big ideal and strategic in investing bitcoin and another good thing to do is to invest when bitcoin market is low or like crashing.

[AmoreJaz]

Its not unusual because some investors only engage themselves in crypto to make profit. Thats their main concern and not the technical part of bitcoin, as long as they can take advantage the volatility of this coin its enough for them. Well there are many kind of investors so its not really surprising that some investors are just waiting for the ath and quit. Only investors who believe in the technology and are looking forward to the development will stay because they have strong belief of this crypto.

those who have in depth knowledge about the capability of bitcoin will not give up. also even users who are benefitting the existence of bitcoin will stay. most of us who have experienced a lot of ups and downs of btc market. but most of the users that are expecting high gains will be gone as they initially thought they will be reaping riches here but come to know that it's not easy to gain profit from crypto if you dont have any idea of what youre doing.
it takes time to understand whats really happening in crypto esp if you are a noob here. even in trading - a lot are asking for pumpndump groups, that's not a sustainable approach in trading and most of them will just rekt your funds.

[Sadlife]

Have you been reading the news, many Institutional investors are buying in Bitcoin including traders in Wall Street, even Fidelity one of the largest investment company launch their first Bitcoin ETF. So, who cares about small hodlers giving up, in fact its more beneficial to us long term hodlers to accumulate more while supply is surging among big companies and entities.

[Kemarit]

Probably this one case, Enough is enough! Good bye Bitcoin!, but it isolated though. I mean Bitcoin is still in it's infancy, so obviously, there will be people who are going to discover that Bitcoin is not for their taste and type get out and disappear and then will be replace by a new set of fresh blood and then the cycle repeats again.

But for the majority of us, Bitcoin has a bright future, whether on how you like to use it, store of value or money, it doesn't matter. As long as you know what Bitcoin can bring to you then you just need to stay regardless if you experience problem or whatever the current sentiments of the market will be.

[mk4]

Bitcoin and cryptos are about patience... People say that we have to hold 5 years to see our money having a turbo bump, but not anyone has the patience to hold that long. Some of them think that they will become rich in a couple of months just by buying bitcoin and that's possible but they need a lot of luck with it. That's why we need to promote the Holding culture!

Bitcoin and cryptosInvesting in it's entirety is about patience(and don't forget research, of course). Some people dive into buying these assets so fast without exerting the slightest effort for doing due diligence that they don't even know what investing itself even means. It's actually really funny and really sad at the same time.

[shamimal93]

There is a class of people who want to get rich by using Bitcoin.  And they do it like this.  Because they do not have the minimum knowledge about Bitcoin.  Those who have minimal knowledge about Bitcoin will never be able to do this.  Those who have minimal knowledge about the capabilities of Bitcoin will never give up.  Those who are new to this forum should take some time to research and then you will understand better about Bitcoin.

[kotajikikox]

I have been reading many posts that show signs to be that people are giving up on Bitcoin's technical development to become an actual currency, and also shows signs to be ready to sell after the next surge to ATH.

I believe it's too soon. Bitcoin's benefit for improvement outweighs the cost in my opinion.

HODL!

You should share some "people' that who's posting about giving up or at least the thread so we can check if they are really here for the technology or just for money.
i don't think true Bitcoiner will have that small patience and giving up too soon because the market and progress of Bitcoin is still on the move.
Or maybe you just read those post because of the DeFi blooming?they maybe transferring on that platform to gain more funds since that is their sole intention inside cryptocurrency then better forget about them because they are not part of the future of bitcoin instead once they get the amount needed,then fly away and forget about these community.

[Darker45]

There may have been a lot of broken dreams with Bitcoin, not just about the price but also with its adoption as a currency. Three years have passed and its price has not yet gone near its ATH; it's still halfway there. At least a decade has passed and a lot have yet to see an actual store accepting Bitcoin as payment. 

Probably a lot are frustrated and disappointed with it. Some are saying things are getting boring now. Patience may be fast running out. But Bitcoin being still in its infancy, I think one comes out and a couple comes in; one quits, two or more join.

[lovesmayfamilis]

If you believe the predictions of various analysts, then Bitcoin has a bright future. And its price can reach very good heights. But some people are not ready to wait for years, and from this they do not have the patience to be a holder.
Sometimes the “here and now” rule works and for some reason, people are forced to part with their bitcoins. Of course, given the fact that the number of bitcoins is limited, and the best way to increase your capital is to store it. I think the more Bitcoin is popularized, the better people will begin to understand the value of storing their assets in Bitcoin. In the meantime, it remains to train your patience and faith in bitcoin in order not to succumb to the rush of sale.

[Alucard1]

Those people who started giving up on bitcoin are those who do not know too many things about cryptocurrency but if you are a strong believer in cryptocurrency then for sure you know how much can bitcoin benefit all of us. It has good potential to replace the fiat currency in the future but it takes so much time before it happens. Those people who gave up on bitcoin have wasted the opportunity to become successful in the future.

[mich]

Maybe people arent giving up on Bitcoin too quickly - but maybe they just dont feel as confident as they did before.   I think this has more to do overall with the weak American and Asian economies at the moment.
I hope that people arent giving up on Bitcoin because the price would crash if everyone sold their Bitcoin. 

[Serious475]

Why there are still many people who give up on bitcoin even though the price of it remains at $10k which is really high compared to the price of before. There are many things that bitcoin can give to us and it would be a waste of opportunity once you started giving up on it. I suggest for this people who want to give up on bitcoin, they should do some research first or join forums like this so they can be knowledgeable about bitcoin, it will help them know if the bitcoin is worth giving up.

[Salauddin1994]

Bitcoin is a more profitable currency than other currencies for investing in crypto i don't think bitcoin should be abandoned it's nothing but nonsense those who have no idea about crypto are able to take such steps. If you research and analyze the crypto market you will understand its benefits and will not think of giving up so the best advice is to give up and make a long-term investment you can make a profit if the price goes up and you don't have to regret it later.

[Upgrade00]

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People who are losing patience with Bitcoin after just 10 years probably never intended using it in stores or for daily payment and are only interested in how much profit they can make in as little time as possible. Bitcoin is still at its infancy sage as you pointed out, and most financial instruments it is competing with, like gold, fiat and stocks are centuries old, so it would take a while for it to take off and go mainstream.
There's is also multiple utilities for Bitcoin depending on how holders view, it can serve as a store of value due to its resistance to inflation, in which case it would not need to be used for daily payments, it can be used as a digital cash for peer to peer transactions, it can equally serve as a speculative asset due to its volatility.

I suggest for this people who want to give up on bitcoin, they should do some research first or join forums like this so they can be knowledgeable about bitcoin, it will help them know if the bitcoin is worth giving up.

Not everyone who gives up lacks knowledge on the potential Bitcoin has, most could have invested due to the hype with little or no strategy at the time, probably using funds they can not afford to lose. So, now they are at a loss and can not afford the patience of waiting extra years.

[peter0425]

Maybe people arent giving up on Bitcoin too quickly - but maybe they just dont feel as confident as they did before.   I think this has more to do overall with the weak American and Asian economies at the moment.
I hope that people arent giving up on Bitcoin because the price would crash if everyone sold their Bitcoin. 

It is not only american and the asian economy is weak but the whole world as well,we know how the universe is now into a huge debt because of this pandemic so we cannot blame people that leaving crypto or converting their crypto into fiat.
but we cannot say that there are totally leaving because the market cap is still up high like what before this pandemic comes so maybe the investors are just waiting for the right signal to re enter..

[witcher_sense]

Impatience, ignorance and sometimes lazyness, all these qualities make people giving up on something that has fallen short of expectations. As it turned out, bitcoin is not a get-rich-quick scheme, like DeFi based on Ethereum, it is not a fast currency for everyday transactions like lovely Visa, its technical development is very slow and boring, because unlike Bitcoin Cash and other similar shitcoins, it is decentralized and requires overwhelming support in order to add something into the code. Bitcoin seems inconvenient, slow and too volatile, if it gets higher in price and reaches its ATH, you're lucky: cash out before it is too late. Of course, it is merely a fallacy. But some don't want to learn, they are afraid to dive down the rabbit hole. If you have time to try to convince them, please do.

[claire_lovely]

Usage of BTC and other cryptocurrencies is only continuing to increase.

I think that when people ae only looking for short-term profit potential through trading or holding, than they may be more likely to leave. However even those temporarily in the space do help the overall activity and often times they do end up learning a bit about the technology.

[jamesde]

Crypto is the future and giving up now or ever would be unwise for me or anybody. I genuinely feel for those who recently jumped in on crypto and planned to triple their initial investments. But what you fail to understand is that in any real investment or company, there is no fast benefit....and cryptography is freaking legit.

[Gotumoot]

They are giving up on Bitcoin on becoming an actual currency because of the huge fee for small transaction and also the price fluctuation.
We could earn profit by holding it instead of using it to pay specially if we could use our cash for it.