Are people giving up on Bitcoin too quickly?

[EdenHazard]

If anyone thought that Bitcoin was going to become an actual currency, then they are totally wrong. Right from the beginning I started making use of cryptocurrency, Bitcoin to be precise, I always put it in the same level as PayPal, Payoneer, and other payment methods of such. I never believed what people used to say that it’s going to be replacing the real currencies that we are making use of to become one world currency, that’s a very dumb idea.

But that doesn’t mean that people will be giving up on Bitcoin. Even if the price of Bitcoin should drop from $10,000 to $1 today, I will be one of those who will continue making use of Bitcoin, because my main purpose that I started making use of it wasn’t because I wanted to invest and make money, it was to actually make use of it.

This is why people need to be educated about bitcoin and the whole cryptocurrency ecosystem. Every one of us has our own idealogy of cryptocurrency and that ideology can bring us to the point that bitcoin can't be the one we are expecting with. Believing that bitcoin can replace today's currency can be possible but I think it would take so many years that our lifespan can't reach so we people need to expect as logically as possible.

Well our purpose of using bitcoin is different from each other, I'm sure there are many people who got a loss in making a profit with it will have a loss of faith in bitcoin and will immediately stop, Unfortunately in that case, The reason why they use bitcoin is the one makes them give up.

Yup as time goes by the price of bitcoin could be more high and higher which got them thinking it's impossible to use bitcoin in daily basis as our main currency, typical narrow minded.
There's a lot improvement currently in develop , to solve all these problems. Including the transaction fee.
Once the results come and people love to the problem solver ... those people with weak faith would surely burried deep down

Be a true believer , bitcoin has something special that too good to be missed.

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[Debonaire217]

It depends on the kind of person they are. Perhaps, there are people who are firm that when they put their money in BTC, even if it declines a bit, they will not take their funds out of it. But this characteristic takes time to adopt as they need huge amount of experience in this volatile market in order to be patient enough to resist the FUD'S and FOMO's. I can say, way back before, I am the same like them who easily withdraw funds whenever I read an article posted by someone popular which is quite negative. I don't do market analysis, I just believe that is why I lose. Right now, I develop some sort of mechanism thinking that Fuds will pass too, and consider the long term benefits of me holding bitcoin.

[worldofcoins]

For people who are new to the crypto space, it is best to buy Bitcoin because it is an asset accepted as a means of payment in some e-commerce stores. If you want to buy Bitcoin with your local currency there are many safe places to do it. Bitcoin has many benefits in addition to holding for investments. If some Bitcoin holders think to stop investing, there will be others who want to have it in their portfolio. Bitcoin will continue to climb at a higher price, the crypto market is booming.

People are getting tired of holding their coins for years and begin selling it. I am certain they'll feel embarrassed later.
I still remember me and my friend did highly invest in 2017 when the cost was something around 19K; however, it started falling after that.
We both losing expectations, and we sell all our coins. Presently it appears to be that bitcoin is improving.
There's much chance of expanding bitcoins cost. Now me and my companion feeling too much lament what we did.

[Traderbtcc]

I wonder who are these people, I guess they are new to bitcoin and always want it to pump, they think crypto is a get rich quick scheme, so all they want is for it to rise to the ATH and they will sell immediately, humans always allow their emotions to get the best of them, whenever the price of bitcoin is going up, they will be happy, but when it's the other way round, they will start calling it a scam,i wish they could see bitcoin beyond that, for me I think the use case of bitcoin out weighs it's cost,it has really made life even much easier, and helped to eliminate the middle man(banks),imagine being your own bank, oh wait you're already  , lol.

[BITCOIN4X]

I wonder who are these people, I guess they are new to bitcoin and always want it to pump, they think crypto is a get rich quick scheme, so all they want is for it to rise to the ATH and they will sell immediately, humans always allow their emotions to get the best of them, whenever the price of bitcoin is going up, they will be happy, but when it's the other way round, they will start calling it a scam,i wish they could see bitcoin beyond that, for me I think the use case of bitcoin out weighs it's cost,it has really made life even much easier, and helped to eliminate the middle man(banks),imagine being your own bank, oh wait you're already  , lol.

I don't think people are guilty of always wanting to profit from what they are doing (trading and investing). The same thing I might say is that I want to profit from my activities as a trader or investor. That's normal because bitcoin is a tradable asset. As a currency, I don't think we need to go far enough just because we want bitcoin to become a global currency. That is very difficult to achieve because the government will not easily pass it. There are many other factor that will also make it difficult for bitcoin to become a global currency. I don't have to wait for that moment to come, because now I can also experience how to manage money like having my own bank with bitcoin.

[goldade]

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!

The only people who will give up on the potentials of bitcoin are those who only see bitcoin as a form of investment and not as a currency. These people most likely do not know or have forgotten that bitcoin was created primarily out of the need for a currency out of the control of the banks and the government. It was created as a currency for the masses.
I however think that the mass adoption of bitcoin in the mainstream world will settle this issue. When bitcoin becomes massively adopted and everybody now accepts bitcoin as a means of payment, then there'll be no other choice than to accept bitcoin as a currency.

[Wallflower28]

The only people who will give up on the potentials of bitcoin are those who only see bitcoin as a form of investment and not as a currency. These people most likely do not know or have forgotten that bitcoin was created primarily out of the need for a currency out of the control of the banks and the government. It was created as a currency for the masses.
I however think that the mass adoption of bitcoin in the mainstream world will settle this issue. When bitcoin becomes massively adopted and everybody now accepts bitcoin as a means of payment, then there'll be no other choice than to accept bitcoin as a currency.

What about those miners? Is they wouldn`t see potential to bitcoin? The factor that you bought bitcoin or supports it, you consider it to have a potential. If there could be a massive adoption, there are two factors also we can consider. Either it bring the positivity to the price or it would be regulated by the government. Probably, government does not want to exist a coin that they will not be used in terms of corruption. Well, in all what you said. I agree to that, being investor and supporter of bitcoin can help it to become the mainstream.

[xSkylarx]

Only people that knows the true potential of bitcoin will reap the reward in the future. It really hurts for everyone to see how volatile it is so it's not suprising for some people to just wait for another ATH then sell all their holdings. We can't blame them because they just bought bitcoin because of fomo and not knowing the risks when investing into a cryptocurrency.

[South Park]

Some really gave up on bitcoin for reasons like they got scammed or lose a lot of money trading. Those are the people who got in without even believing in the currency first, they've been blinded by the idea of earning a lot of money without understanding the risk. they see bitcoin as a money making machine and not as a currency. But some of them didn't give up on bitcoin, they just don't believe in it when the price is down. Same thing with almost everything in this world actually. You have friends when you have something, and no one when you're at the bottom. Expect them to be back again once the price is already ATH. They will be the one regretting they didn't hodl. Best is we don't give a shit about them, just do what we do and continue using bitcoin.

It looks like a trauma to a person who had lost a lot of funds in bitcoin. I know that most of us here bought bitcoin because of its primary usage, p2p transactions. We but btc and other cryptocurrencies for investment. And that is the reason why most people quit in crypto space. We intend to make money without knowing the risk potential that we will encounter. If you bought bitcoin during its collapsed and assume that it gonna pump hard, I think until now you hold bitcoin too. It takes a lot of years before we have seen bitcoin ATH again so hodling is not the key specially if you are newbie to the industry.

That's the saddest part on investing in bitcoin thinking that it's a quick rich scheme without being aware that it takes more patience and skills to make profits in bitcoin. People who easily give up on bitcoin are those who have less knowledge about its potential but for those who are already legends in this crypto community, they just keep calm while waiting for its bullish season to come again.

Those people do not really understand why bitcoin exists at all, they have heard stories of people making themselves rich and they want the same to happen to them, and they do this without understanding that markets never remain the same, a strategy that worked years ago could be outdated now, some people became rich with faucets when bitcoin was just starting and you have people to this day trying faucets, it is obvious those people are wasting their time, and anyone thinking they will get rich with bitcoin in a matter of weeks or months is wasting their time as well since it now takes months or years just to see some decent profits.

[Lanatsa]

Some really gave up on bitcoin for reasons like they got scammed or lose a lot of money trading. Those are the people who got in without even believing in the currency first, they've been blinded by the idea of earning a lot of money without understanding the risk. they see bitcoin as a money making machine and not as a currency. But some of them didn't give up on bitcoin, they just don't believe in it when the price is down. Same thing with almost everything in this world actually. You have friends when you have something, and no one when you're at the bottom. Expect them to be back again once the price is already ATH. They will be the one regretting they didn't hodl. Best is we don't give a shit about them, just do what we do and continue using bitcoin.

It looks like a trauma to a person who had lost a lot of funds in bitcoin. I know that most of us here bought bitcoin because of its primary usage, p2p transactions. We but btc and other cryptocurrencies for investment. And that is the reason why most people quit in crypto space. We intend to make money without knowing the risk potential that we will encounter. If you bought bitcoin during its collapsed and assume that it gonna pump hard, I think until now you hold bitcoin too. It takes a lot of years before we have seen bitcoin ATH again so hodling is not the key specially if you are newbie to the industry.

That's the saddest part on investing in bitcoin thinking that it's a quick rich scheme without being aware that it takes more patience and skills to make profits in bitcoin. People who easily give up on bitcoin are those who have less knowledge about its potential but for those who are already legends in this crypto community, they just keep calm while waiting for its bullish season to come again.

Those people do not really understand why bitcoin exists at all, they have heard stories of people making themselves rich and they want the same to happen to them, and they do this without understanding that markets never remain the same, a strategy that worked years ago could be outdated now, some people became rich with faucets when bitcoin was just starting and you have people to this day trying faucets, it is obvious those people are wasting their time, and anyone thinking they will get rich with bitcoin in a matter of weeks or months is wasting their time as well since it now takes months or years just to see some decent profits.

Expectation vs. Reality as we do all know and this is where commonly people do fall on.They do really believe that bitcoin can really make up them rich but without even
knowing that it doesn't work that way.

Giving up too early?Its not a surprise for some when Bitcoin haven't meet up their expectations but somehow some people do realize and do decide to stick and engage with
it even more.

It will vary on interest and your own views on how to be sustainable into this market without having those hopes too high.

[Innocant]

We do not blame them if they are giving up early for bitcoin if the price it will take to long to recover or reach to a high price. Even me I take that on my mind also that I need to giving up but for now I just focus only on how to earn more in bitcoin in such a low of price. So I decide to hold and buy some more because there will be a time that bitcoin could be go to a high price again and Ill think we need patience because patience is the only way for us to earn more in bitcoin.

[bryant.coleman]

You need to look at both sides of the debate. I know some people, who purchased Bitcoin at prices close to the ATH levels in December 2017. These people are still stuck with their holdings and their investments are in deep red. We always say that Bitcoin is a high-risk investment and you should invest only as much as you can afford to lose. But that is not always the case. There may be financial emergencies and these investors may be forced to sell their coins at a considerable loss.

[worldofcoins]

The majority of people in the crypto market are only interested in profits and are not interested in the development of cryptocurrencies.
I myself come to the market partly for profit. I love bitcoin and cryptocurrencies but also need money to pay my bills, if bitcoin goes too high, maybe I will sell 50% of my bitcoins.

Those who abandoned bitcoin excessively fast are not the real investor.
They want to get wealthy at night. A large portion of them read about the bitcoin but never comprehend it completely.
However, bitcoin never works that way. If something is decentralized, at that point, it doesn't mean it make you wealthy in days or months.
Bitcoin is the same as a stock. You need to apply profoundly persistent if you need to make a benefit.

[DrG]

You need to look at both sides of the debate. I know some people, who purchased Bitcoin at prices close to the ATH levels in December 2017. These people are still stuck with their holdings and their investments are in deep red. We always say that Bitcoin is a high-risk investment and you should invest only as much as you can afford to lose. But that is not always the case. There may be financial emergencies and these investors may be forced to sell their coins at a considerable loss.

This ATH story has been repeating itself over and over. Bitcoin peaked to 33 then pulled back for an entire year, Bitcoin peaked to 166 then pulled back, then to 1200 and pulled back for 3 years, then to 20k and here we are at only 1/2 way down. Last time I bought was at 7xx and I've sat on it since, even when it was in the $200 doldrums.

If people want get rich quick or die trying schemes they should be bottling custom alcohols.

[DarkDays]

I wonder who are these people, I guess they are new to bitcoin and always want it to pump, they think crypto is a get rich quick scheme, so all they want is for it to rise to the ATH and they will sell immediately, humans always allow their emotions to get the best of them, whenever the price of bitcoin is going up, they will be happy, but when it's the other way round, they will start calling it a scam,i wish they could see bitcoin beyond that, for me I think the use case of bitcoin out weighs it's cost,it has really made life even much easier, and helped to eliminate the middle man(banks),imagine being your own bank, oh wait you're already  , lol.

I agree, most of the people who would give up so easily on BTC are newbies. Recently, BTC has shown some green and hopefully it stays like this.
Too many people start entering the market hoping to get rich quickly and after a few weeks they just give up.

The issue is that people don't understand the long-term gratification scheme and this in turn may cause negative micro-domino effects.

[Darkelf11]

Only people that knows the true potential of bitcoin will reap the reward in the future. It really hurts for everyone to see how volatile it is so it's not suprising for some people to just wait for another ATH then sell all their holdings. We can't blame them because they just bought bitcoin because of fomo and not knowing the risks when investing into a cryptocurrency.

Patience is one of the key here in cryptocurrency. For those people who sell their holdings at lower price maybe they do not have enough information regarding bitcoin and they are too afraid that bitcoin price might drop in an instant. We cannot blame them and if ever that we choose to mess up with their decision then time comes that it will be a really bad day for cryptocurrency, we are the persons to blame. We should let them learn from their mistakes and inform them facts about bitcoin atleast we offer help.

[Zilon]

People acquire bitcoin with the aim of making immediate profit. Some venture into this line with the mindset of cashing out maximum profit the next moment. Bitcoin is a digital commodity. Its value is never stable it fluctuates although with a minimal margin. If we take a look at its current worth its is over $12000 for 1bitcoin but we can't really say for sure what its value will look like in few hours.

Factors such as market capitalization, Economic stability and global exchange contributes greatly to bitcoin stability so if one feels bitcoin is an immediate profit making platform except for traders he or she will remain so discouraged considering the nature of our global economy.

[Xembin]

No,People are not giving up on bitcoin.
People are trying to observe the season very well before they can supply to market if more profit will come out from the supply.
People are not giving up on bitcoin just that they prefer to quit from now base of what the world is experiencing every night and day of the Corona virus. Many investors are still observing the period that is making some people think they are quitting from the forum. that is spreading every day

[Mr.sprin]

people hunt bitcoin because they believe in the benefits they get, everyone knows the price of bitcoin is unstable and everyone agrees with that many are taking advantage of the unstable price of bitcoin but need to learn to master the market situation, otherwise it will lose.

[South Park]

You need to look at both sides of the debate. I know some people, who purchased Bitcoin at prices close to the ATH levels in December 2017. These people are still stuck with their holdings and their investments are in deep red. We always say that Bitcoin is a high-risk investment and you should invest only as much as you can afford to lose. But that is not always the case. There may be financial emergencies and these investors may be forced to sell their coins at a considerable loss.

In fact this is very common in all markets, people for the most part come with expectations out of the markets that are not aligned with the reality of it and for the most part they invest at the end of a bubble and when the market begins to go down they keep holding their coins not wanting to accept their losses and the only thing they are doing is to increase them even further, also while many recommend to only invest what you can afford to lose that advice can only be followed by those that are rich already as the rest is probably using their savings, and who can afford to lose that?