Here's why I'm leaving Bitcoin

[wbks4]

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More than ten years ago, a man(?) And a bunch of idealistic programmers started creating a new currency. A currency that would allow freedom, that would return the power taken by governments and banking institutions. A currency that today the whole world knows as Bitcoin.

For a long time, Bitcoin has provided people with exactly what it was created to provide: freedom (and a reasonable level of privacy). I met him in mid-2010, but I didn't really get involved until 2016. After the first big top at the end of 2017, things started to change. Bitcoin is no longer a "currency of the underworld", as they called it, to gain the attention of the mainstream media, governments and, mainly, investors.

That same year, I met a very poor community in my country. There, I met a man we will call John Doe. Doe was a fisherman, fed his wife, two daughters and his father - already quite old - with what he managed to catch fish and crustaceans, selling them at a local market. Doe told me that things were difficult. In its small village - which could only be accessed by boat - there were no benches. Not even the credit card companies had been concerned about these people. Yes, Jhon Doe used Bitcoin. Even there, there was a P2P provider. Interestingly, the same man who programmed and carried out tourist excursions to that place.

But it had been a while since he had gotten some satoshis at a good price. The massive amount of people depositing Bitcoins on exchanges or personal funds, traders sucking the currencies out of a market with people who really needed them ... All of which greatly reduced the liquidity for Doe, who had to rely on the local fiat currency again. You can say that if John had saved, today he would be rich. It's true, but you didn't see his house, with walls made of wood and clay. The one-room house, with hammocks where they could sleep. There were only three dishes where Doe's two daughters and father first ate. The wife hoped that one of them would be free and Doe always ate his meals in a rusty metal mug. He couldn't afford to wait years of Bitcoin appreciation, he was more concerned with putting food on the table and killing the family's hunger for another week. That day, I donated to Doe the only entire Bitcoin I had in my entire life.

I am not saying that the great appreciation of Bitcoin is a problem. May it spread further and help many people in the same way that it helped Doe. Speculate, enrich and do not forget those who have not had the same opportunity. Allow institutional investors to come in, they will give the market resilience. But please, never forget the reason why Bitcoin was created. Don't let it get out of reach of the people who need it.

Last December, I visited Doe again. Her father had died in 2018. Ironically, not from old age, but from the bite of a snake. There was no time to take him to a hospital. I donated to John everything I have recovered in Bitcoin since then, which did not add up to a tenth of the previous amount. I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return.

Have a great day.
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[Kazill]

It seems to me that the easiest way to give up something is after the first failure. And I do not blame for this, because it brings financial losses and all kinds of difficulties, including psychological ones, and this is really familiar to many. But I am sure that this should not be taken seriously if you have not lost motivation yet and you are still interested in the market. Yes, this is a big nuisance and you will probably need time to recover - financially and psychologically. But you definitely need to start over and just try to control risks and learn how to properly distribute your money. There is no need to rush and chase profit, it is enough to move in small steps and analyze everything that happens.

[Anazarten]

This is the freedom of choice in the market - you can always not be limited to any one asset, and if you see some dubious working conditions or you do not have a specific work plan, you can always give up this at least for a while and choose something else for actual work. This is normal. Every asset, even the most stable one, sometimes "goes through" difficult times. And of course, at this time, interest in him is steadily declining. But over time, this can also "rehabilitate" in the market and again attract the attention of traders and investors. So maybe your opinion will change over time. Still, being categorical is not always the right decision. It is a fact.

[Shaktijin]

This is a danger that any independent resource carries, so there really is a certain specificity that requires detailed study and consideration. Because it behaves a little differently than other standard assets. For example, currency pairs. I understand your emotions and it seems to me that every trader who has faced losses at least once understands you.
But I just want to say that you should not lose confidence in this business, because there are actually great prospects here, you just should not be disappointed and maybe you should take a little rest before you start a new stage of work, most likely with others assets and other strategies. But I'm sure everything will be okay.

[Mpamaegbu]

We have seen this type of fictional stories several times a long time ago. They always come up whenever there is FOMO and Bitcoin is having a great rally. Well, not as if the stories aren't interesting (at least for amusement's sakes, they're.), it's just that the stories more often than not do not add up as to the claim the story tellers often intend them to have. I couldn't truly understand what the OP says is the reason they're quitting keeping Bitcoin as it's not clearly stated in the post (or may be I missed that part). My question now is, "Why do you want to quit keeping Bitcoin?"

[bekti3]

Last December, I visited Doe again. Her father had died in 2018. Ironically, not from old age, but from the bite of a snake. There was no time to take him to a hospital. I donated to John everything I have recovered in Bitcoin since then, which did not add up to a tenth of the previous amount. I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return.

I feel sorry for what your dad went through, but leaving bitcoins just because you don't have them anymore doesn't mean you can't see cryptocurrencies other than bitcoin.

So why do you say you want to stay away from cryptocurrencies for a while? just because the price is not affordable? or waiting for bitcoin price to drop again? like using bitcoin when only certain conditions. while we live on bitcoin, it's hard or even happy. And you have very different principles from us from the point of view of bitcoin.

[odolvlobo]

You don't have to own bitcoins to be in the club.

[OscarDavidson]

Sure, you can be disappointed by Bitcoin now after ten years of existence. It's ok that Bitcoin direction could slightly be changed Now it's one of the richest assets in the world and I'm glad to see new companies recognizing it each day.
But there are still a lot of other coins and cryptosystems created for decent reasons and new projects appear almost every day so you can still remain a part of this world and find a new coin for you.

[coolcoinz]

So that guy who sleeps in a twig hut has electricity, Internet, a smartphone or a computer, knows about bitcoin and how to use it... Strange at the very least.

But it had been a while since he had gotten some satoshis at a good price.

What is a good price? Is 10k a good price? 15k? 20k? For many people 35k is a good price because there's millions of USD traded for bitcoin every day.

[Olivia Wolff]

I didn't quite understand the reason for your leaving cryptocurrency. Yes, bitcoin has become a popular currency, but why you leave it then? Now is the time to start investing in this currency because in a few years you'll earn a huge amount of money. The problem is that not all people understand how this technology works. I advise them not to get involved in it. Or just start exploring this environment because cryptocurrencies are a very difficult system, where you have to be confident in your decisions, think well, and be stress-resistant. The latter is very important because weak people will give up after the first failure, which shouldn't be done!

[pixie85]

I didn't quite understand the reason for your leaving cryptocurrency. Yes, bitcoin has become a popular currency, but why you leave it then? Now is the time to start investing in this currency because in a few years you'll earn a huge amount of money. The problem is that not all people understand how this technology works. I advise them not to get involved in it. Or just start exploring this environment because cryptocurrencies are a very difficult system, where you have to be confident in your decisions, think well, and be stress-resistant. The latter is very important because weak people will give up after the first failure, which shouldn't be done!

He thinks it's too expensive and taken over by big players and that poor people can no longer use it as a currency.

In a way he's right. It's hard to use it when you're very poor and rely on micro transactions but bitcoin is not yet fully developed. It's evolving and this is not its final stage.

Maybe it will become a store of value and digital gold, nothing more. We don't know yet but it's too early to turn your back on it only because fees are high.

[maxreish]

It just makes me wonder and hard to believe that Doe (in his poor situation) will consider bitcoin instead of using fiat currency where in you can easily use it without hassle of tapping your phone. As I visualized his situation, he should consider fiat used since the OP said he couldn't wait bitcoin to go up the price and he used it eventually when they need it.

And as of the writer of this story, does it makes sense you donated all of your hold bitcoins when bitcoin achieved it's All Time High?
It costs a lot of money today, helping others is a great endeavor and satisfaction I do understand that. But if you give it all out to the ones who needed it the most, then I salute you for that.

[NeuroticFish]

I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return.

The world is not ready for Bitcoin. Not yet. People are using it to exchange to fiat before buying goods and services, allowing middlemen earn big from this.
But with every "average Joe" leaving the ecosystem instead of insisting to use it right the things will not advance towards the right direction.
Of course, it's your choice and all we can do is respect it. But that cannot stop me from telling you "you are doing it wrong".

It just makes me wonder and hard to believe that Doe (in his poor situation) will consider bitcoin instead of using fiat currency where in you can easily use it without hassle of tapping your phone.

Indeed, the access to internet has its costs and if cards are not available, then internet is either not there, either expensive.
However, I think that not the truth of the story would be the main concern here, it's the conclusion behind it.
I mean, it doesn't matter the story is fake and OP doesn't actually leave.
What matters imho is that the main character of the story is felling instead of doing his part (big or small) in driving the things to the right direction.

[Tristan Bieber]

It’s a pity that you chose to give up Bitcoin. I think Bitcoin has a promising future. If you have any chance to try, I still recommend you to buy some Bitcoin. Now their value is rising sharply. I am very optimistic it.

[passwordnow]

The name was seems to be familiar to me, John Doe. Hmm.. isn't that the name that usually is an example on typing exams or speed typing testings? I'm not sure about it but that makes me remember those tests that I've down in the past. But hey, no one is stopping you from entering or getting away from bitcoin. It's free to anyone who wants to get out or get in at anytime that they desire. Good luck with your future if that's your decision and if your story is true.

[7788bitcoin]

I don't even own a single satoshi, and I intend to stay away from the cryptocurrency environment. At least for a while. Perhaps, when they return to being what they were created to be, it will be a good time to return.

If you are planning to wait till you find the exact reason in your terms, then you wont be entering the market ever, institutional investors will be taking advantage of the opportunity and there is nothing you can do about that. I am not happy with the price valuation as i wanted to see a gradual growth and not a pump and dump market but it is a decentralized market and there are flaws you should expect and try to move with the flow.

[Wind_FURY]

You don't have to own bitcoins to be in the club.

I hope you’re not suggesting that OP own another kind of coin, the forked-Bitcoin-shitcoin kind, and be OK to be “in the club”. Hahaha.

Although, yes, it’s about the correct attitude, and educating people.

[yazher]

Well, it's not always good news for the rest of us there's always someone like OP who didn't get it work with his life about BTC. Now that you are leaving, there are lots of people who are newly introduced to the Crypto industry every day and most of them stayed the evidence for that is the current price in the market right now because if it's not for the new investors those old holders are not able to make the price up to this high. Thanks for the new support of the big companies and other people who trust bitcoin up to this point.

[DarkDays]

Each to their own!!!

If you think it better suits you to be away from Bitcoin, that's fine- you know better your own reasons for doing so.

Leaving BTC for good is another matter, I would not recommend if you intend to stay in the crypto market as I strongly believe that within 5-10 years you might be looking back regretting not staying in the market. Though, ultimately, it is your own decision. Good luck with whatever you decide 

[Karartma1]

It's so funny to read some of the comments here.
Dear people, there are no shortcuts in life and if you value something you should put all your best effort and work into it.
You guys don't understand that those who benefited most from bitcoin are the ones who spent countless hours researching it.
Feel free to leave bitcoin then, honey badger doesn't care