Are people giving up on Bitcoin too quickly?

[tyz]

Even though Bitcoin is already over 10 years old, we are still at the beginning of its development. I always compare that with the Internet to people who are new and interested in Bitcoin. The internet existed since the early 1990s, but the breakthrough came in the early/mid 2000s. It is similar with Bitcoin. There are many signs that increasing acceptance is happening and at some point the final breakthrough will come. I wouldn't necessarily put that down to price.

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[Anonylz]

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!

i wouldn't say given up per say, rather people are mostly enjoying the price aspect of it for now, the ability to make money from occasional price pump and perhaps from ath when it happens, but despite this, many people are still looking forward to the technical aspect i.e for btc to become an actual currency in the future but this is something that will not happen overnight, btc becoming an actual currency and having been accepted by the government of various countries still very far from reality, but the benefit of making profit out of it is already achievable and this is where many interest lies.

[Yogee]

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.

Have you ever thought maybe their country limits them? Sure there are the cash grabs, there are other factors too. There was a post here where OP quit because exchanges closed in their country. There are others who got scammed big time and they were so distraught that they never got to trust bitcoin again. Do not get a tunnel vision, widen your perspective. I do not think that using bitcoin as a means of becoming financially stable is a bad thing, the development of Bitcoin is already happening, you might as well get the benefits of believing that it will revolutionize society.

Post: https://bitcointalk.org/index.php?topic=5280183.0

Tunnel vision? That's why I'm asking who are these people in the first place. Whether it's country restrictions or they were scammed in the past, that doesn't change the intention of selling bitcoin at a profit. They look at bitcoin as an investment asset rather than an actual currency which is the main point of the post.

[Marina5]

Nowadays, people are getting involve in Bitcoin in huge amount. Price is growing gradually. We should hold our Bitcoin for a big profit.

[carter34]

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

The increase of cryptocurrency usage is almost getting everywhere and we are seeing many more exchanges which is to show that more cryptocurrency adopters coming into the system. In the few years to come we see that it will increase more because covid-19 and short down has taught many how to invest in cryptocurrency.

[Becky666]

Those who can't trust the system for the main time may give up quickly because they don't get what they want from the system. When an individual with a mindset of making quick money from the technology and it's not forthcoming then they will quit the system. Though, this isn't an issue becasue the ecosystem just begin to grow as Bitcoin clocked 10+ years. As for me, those leaving the system will definitely come back to the industry when the right time comes, new technology must at first suffer setback before the light shine.

[FlightyPouch]

I think there are those people that don't actually care what happened to bitcoin. As long as they can get a profit out of their investments, they would invest in bitcoin and get out to their advantage. In the end, if we will be looking at the long run, I think the ones holding for a long time get the higher profit than those getting out quickly.

[Inkdatar]

I think there are those people that don't actually care what happened to bitcoin. As long as they can get a profit out of their investments, they would invest in bitcoin and get out to their advantage. In the end, if we will be looking at the long run, I think the ones holding for a long time get the higher profit than those getting out quickly.

Well, every people has their own judgment wether to stay longer in bitcoin once the all time high reached. But, some grab the opportunity in taking profit, of course. So they are thinking on the long term opportunity that a bitcoin could offer. When holding long term a chance to earn huge profit if the price soar in the marker. So people giving up quickly on bitcoin because of don't believe in its adoption happening.

[pawanjain]

The recent bear trend (2018 - 2020) was the longest one and many people thought that this is the end of bitcoin.
Many people were criticising bitcoin for falling so low in price. Even then there were many people in this forum who truly believed in bitcoin.
And here we are today still standing with bitcoin. Those who criticised bitcoin back then are gone selling their bitcoins for cheaper price and those who believed in it are holding their bitcoins.
People must understand that it's not about price but the technology and the faith that people have in bitcoin to revolutionize the world.
This is what unites us all and this is what will develop the future of this world.

[AniviaBtc]

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.

Just HOLD and believe on bitcoin's ability to increase its price in the market.

And also maybe they are not that patient enough to wait for it to become profitable and to make it. If you're patience don't prevail when you are a bitcoin investor, then probably it is not for you, bitcoin is not for you and you should buy immovable asset instead. Maybe it is also because it is not a real currency that is tangible that's why most of the people are doubting bitcoin's capability of increasing its price.

[pixie85]

People tend to get tired after a while.

You rarely see a politician standing behind the same values for decades. Most change their minds and most people change interests and investments.

Old holders will sell but new ones will emerge. The circle of life

[Shasha80]

In my opinion there is nothing wrong when Bitcoin goes up to the price of ATH, many people will sell their Bitcoin for taking profit.
This doesn't mean people give up that Bitcoin will become the actual currency, because I believe most of the crypto community still
believe Bitcoin will become the actual currency. So the accusations of many people of giving up on Bitcoin are not true, there are
indeed some people who have given up on Bitcoin, but I believe there are not many.

[worldofcoins]

I heard people are surrendering with bitcoin because numerous haters are misleading them.
These peoples are not well aware they're less educated about bitcoins.
You can not become rich with bitcoin in one night it takes lots of time for bitcoin to convert your investment into profit.
Bitcoin is decentralized and no one knows when will it begin expanding and diminishing. The primary principle of crypto money is to show profoundly tolerant

[stadus]

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!

Yep, there are people who think that way but that would not result for the market to crash, been here for many years and I've seen a lot of crash look alike but I was so optimistic that the market will recover and I was right. Thing is, when some people are selling, expect there are also a group of people who are willing to buy as not everyone thinks the same in a given market situation.

[maydna]

People are giving up on bitcoin too quickly because they don't have the patience to wait for the price to go up, and they feel desperate to just hold bitcoin without doing anything. They have daily needs that need to fill, and that makes them need to have money. They slowly sell their bitcoin without waiting for the price too increases. It is normal to see what they did because many of us buy bitcoin to profit by selling at a high price. But unfortunately, the bitcoin price will not always increase every day, and the bitcoin price will be volatile. It is easy to say just HOLD bitcoin for a long time, but not all people can do that easily.

[amishmanish]

The subject of people giving up on bitcoin has gained traction on the forum for sometime. This is especially because of the latest DeFi craze. With every hype-cycle come new claims of paradigm changing innovation from all these different people working on ERC-20 tokens or alternative blockchains. To those who feel concerned about bitcoin due to all these bedazzling innovation, i say this:

Do you really think these "New" projects are bringing in the billions in the form of actual investments?? Most of the time the money raised is itself in the form of bitcoin. The "projects" market valuations are against the dollar value that bitcoin has. Most people "investing" in these "projects" are old hodlers themselves with BTC to spare and who want to put their bitcoin to work. The smaller retail buyers are just there to buy and sell and keep the price ticker running on exchanges.

Today if the REAL HODLERS give up on bitcoin, this whole ecosystem would evaporate in less than a day. Nobody would care if your DPoS chain with three telegrams groups and fifty thousand Filipino, Indian and Chinese shills can do 10000 TPS. So @Windfury my friend, please take heart. Trust the honey badger..

Two responses in this thread that i think are important though are here:

--snip--

I think Bitcoin is of course amazing. I am also fucking sick of being lassoed to a either a bucking bronco or a comatose turd. I will be giving up 50% of it when the right moment arrives.

There's an amazing future ahead. I've waited long enough to do something to address my own. Anyone walking away completely will either regret it or extracted so much it won't really matter.

--snip--
those interested in the technical are seeing the big shift away from bitcoin growth and instead silly other network gateway growth. yep its me again and many others like me that can actually admit that devs have lost interest in bitcoin and now want to make millisat and offchain exchanging a thing.

im always going to hoard bitcoin. i bought at $6/coin so i got a lot of play in my margins to not care about the price swings day to day. but yea many long termers are peed off with the stagnation of innovation ONCHAIN that actually benefits ONCHAIN and not other offchain networks

Love these two responses as they are the ones that really raise issue from the perspective of some old hodlers rather than speculation of people who hold like 5 BTC and just can't wait for it to make them rich. Instead of getting negative about this and hearing newbies and DeFi degens talk shit about bitcoin, this is what we should be discussing.

[Genemind]

You can never satisfy all people. Even how beutiful or good things are there are some people will hate it for different reasons. However, the number of people who beleives in Bitcoin are way to far from the number of people who hates it. I think we are still on an early phase to say that Bitcoin or even cryptocurrency as a whole is fully developed, it is not even fully adapted yet. The process might be slow, but everything is progressive.

[Wind_FURY]

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!

first, you should add links to the post that you are talking about. so, we won't be misled about this topic.

IMO, most bitcoin early adopter who indirectly involved with bitcoin development already made their own path.
they made their own crypto, startup, or other blockchain company. so, maybe it makes people think that bitcoin development is too slow.

but,

let say on this forum.
we regularly saw a new bitcoin project from a company or just a community project.
not to mention the crypto gambling site that launched and always promoting their service regularly on this forum.
it just a little example of bitcoin development as an actual currency (in general).

Hahaha. I'm not scamming you, but the general "mood" of a lot of the poster's replies are they have given up on Bitcoin's development in the economy to be more, but still HODLing for fiat profit, not as a hedge/opt-out mechanism.

But you can read some of the replies in this topic, https://bitcointalk.org/index.php?topic=5279328.0

[FlightyPouch]

I think there are those people that don't actually care what happened to bitcoin. As long as they can get a profit out of their investments, they would invest in bitcoin and get out to their advantage. In the end, if we will be looking at the long run, I think the ones holding for a long time get the higher profit than those getting out quickly.

Well, every people has their own judgment wether to stay longer in bitcoin once the all time high reached. But, some grab the opportunity in taking profit, of course. So they are thinking on the long term opportunity that a bitcoin could offer. When holding long term a chance to earn huge profit if the price soar in the marker. So people giving up quickly on bitcoin because of don't believe in its adoption happening.

I think some of us here are not even thinking that there will be a huge adoption in the future, some of us are just taking advantage of what they can do right now. But I think there are those that trust the process, that believes that bitcoin will be a huge part of an economy of a country in the future. That it will be a great currency used online.

[ice098]

I think there are those people that don't actually care what happened to bitcoin. As long as they can get a profit out of their investments, they would invest in bitcoin and get out to their advantage. In the end, if we will be looking at the long run, I think the ones holding for a long time get the higher profit than those getting out quickly.

Well, every people has their own judgment wether to stay longer in bitcoin once the all time high reached. But, some grab the opportunity in taking profit, of course. So they are thinking on the long term opportunity that a bitcoin could offer. When holding long term a chance to earn huge profit if the price soar in the marker. So people giving up quickly on bitcoin because of don't believe in its adoption happening.

I think some of us here are not even thinking that there will be a huge adoption in the future, some of us are just taking advantage of what they can do right now. But I think there are those that trust the process, that believes that bitcoin will be a huge part of an economy of a country in the future. That it will be a great currency used online.

I might not thinking that cryptocurrency will coming a huge adoption in future as well but i didn't think also to give up in bitcoin. I'd still have this gut feeling of mine that someday or one of this days bitcoin will be a part of our economy by mean of legally adopted as mode of payment in each and every shops and services. I didn't know why there are some of us quickly giving up on bitcoin. Hopefully they may find in themselves their way back to cryptocurrency, i have this feeling of mine that our dream for a cryptocurrency to be legally adopted was near.