Bitcoin losing its importance

[_Miracle]

"Bitcoin losing its importance"


Because it's declining in value or because its price is affected so easily by opinion?
Neither of those things can change the "importance" of bitcoin, its an extraordinary invention.
Blockchain is here to stay and people will continue to find expanded uses for it.

Major financial institutions and governments are copycatting the idea to create their own cryptocurrencies.
Everything that happens now is just a live experiment.

I'd venture to say that bitcoin has a permanent spot in history.

[mindrust]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

It was always inevitable. Now bitcoin acts more like Tesla&Twitter coin because these companies starting to act like they "own" the thing. It is not very obvious yet but it will happen. And then, like almost all the other big companies, they will come up with their own shitcoin because they will find some stuff that they don't like with bitcoin... it could be anything.

[zanezane]

we should not have to follow their every post, because I am very sure behind their posts there must be a certain purpose, they want to play in market prices, they are all the time, even every second they always monitor market prices, they will do everything possible to scare weak hands, their goal is only to make profit, if we always believe in their tweets, our lives will never change..

Contrary to you, I think that we should follow it, because these people can make trends and people that make trends should be followed because you know that they will be able to make waves that you can use to your advantage. No matter what your opinion is about the market and how you hate these trend makers, it doesn't matter because the public opinion will win no matter what.

[kryptqnick]

I think that going from one tweet of one rich guy to Bitcoin network being completely centralized is very far-fetched. Some temporary manipulations by guys like Musk are indeed possible, but they don't lead to Bitcoin's centralization. Even if companies like Tesla invest in Bitcoin, they are all private businesses with their own interests, so it's not like they'll all act in accord with one another. Moreover, there are already dozens of millions (literally) of Bitcoin users which are individual people who don't consolidate to manipulate the market and usually don't even personally know each other. If institutional investors make a move on Bitcoin, trying to gain control over the market, the price will skyrocket, making it increasingly harder for them to reach their goal. So I think Bitcoin is doing okay, and Musk isn't a threat to its prosperity.

[imstillthebest]

they dont care with the real value of the coin but whats important for them is they can manipulate it but we cant let that happen btc .
that is why we continue to hold and buy on our own without the need of listening to what ever those manipulators are saying because they will only get the most benefit at the end .
 for us true btc users btc does not loose its importance but its importance only keeps getting stronger .

[buwaytress]

Seriously. For whomever actually believes Bitcoin has lost its importance, or if there is actually another similar class asset of equal or more importance... If you don't like Bitcoin, then don't use it. There are literally thousands of other shitcoins out there to put your future on. You may never even get to experience the inferior security, usability, adoption, since you're probably not even a crypto user.

[Renampun]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

Bitcoin is an investment asset and buyers will be influenced by the words of those who have influence...

There are still many out there who are hesitant to buy Bitcoin because they don't have a role model and many of them look to those who have great influence as their role models. when Elon says positive things about Bitcoin then his fans will automatically be optimistic about Bitcoin and buy it, what a strange behavior for me

[temple]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

Bitcoin is an investment asset and buyers will be influenced by the words of those who have influence...

There are still many out there who are hesitant to buy Bitcoin because they don't have a role model and many of them look to those who have great influence as their role models. when Elon says positive things about Bitcoin then his fans will automatically be optimistic about Bitcoin and buy it, what a strange behavior for me

It is not necessarily a strange behavior. I think in one way or another we all have our role models that we trust in certain areas. We have our areas of expertise and we definitely know people listening to us as well. The circles we have influence on as individuals maybe smaller than those Elon has influence on, but we all look for someone with credibility to include that someone's opinion in our decision making process. I think that's normal because there are simply people who know more than us in certain areas, and if those people put their reputation on the line by talking publicly, it feels even more secure to follow their advice.

[Obito]

Well, the prices increase depending on supply and demand, and people like Elon can manipulate those system by buying a lot of bitcoin to cut short the supply and hyping it up making the demand go higher. Bitcoin isn't losing it's importance, it's just that we are on a decentralized platforn that it's possible for them to do this without implications and we are happy that they do it too especially when the prices are going wild.

[caryoscar]

This is really nothing new. I really dislike how much power Elon has over the markets, but good/bad news have always moved markets to a certain extent. Even a good bullish article from the likes of CNBC can move markets. And how is someone being able to move the price of a certain asset make Bitcoin lose it's importance?

First of all, we must understand what is the importance of Bitcoin? Global resource allocation and extremely low transaction costs. Bitcoin is still a decentralized currency, with the characteristics of anonymity, non-copyability and high security. Therefore, the price fluctuation of Bitcoin is not a manifestation of the value of Bitcoin. Price is not equal to value. If Musk's stupid approach is considered that Bitcoin has lost its importance, this statement is not valid, and the value of Bitcoin will not be changed by one person.

[AakZaki]

~snip~ Bitcoin isn't losing it's importance, it's just that we are on a decentralized platforn that it's possible for them to do this without implications and we are happy that they do it too especially when the prices are going wild.

What does the author of Bitcoin mean as a means of payment?
If bitcoin is used as a means of payment I think this is still being done although at the moment it has not received approval by the world. If the author refers to the stable value of Bitcoin it will not be possible because it is decentralized. So I think it's still bitcoin with its original purpose. Maybe because the value fluctuates so many famous people take advantage of the moment to lead the opinion of the world to direct the bitcoin movement. I think this is an unavoidable spice of the development of the crypto world, and it should be there. So this has been a moment that is often used by traders to seek profit, including me.

[mckinleeanael07]

yes I think you are right ,BTC has a pretty big influence on the voices of some people and it many times depends on what Elon Musk says . they see BTC as a toy and they want to give up is to give up want to come back is to come back. BTC becomes the toy of the rich, gradually losing its value.

[sunsilk]

Just because Elon has said favorably something about bitcoin again that Tesla might reconsider accepting bitcoin again, bitcoin isn't losing its importance. Actually, it's his right whether he say something positive or bad against bitcoin.

We just don't like him anymore based from what he has said. But I've realized that any company is free to express their acceptance or not towards bitcoin payments.

[ChrisPop]

It is a free market and everyone has the right to express his/her opinions about any subject. The issue is that the majority of people place more importance on the words of successful personalities. That's normal, but in the markets, following other people's opinions is close to economic suicide. Proper financial education is the solution.

I don't think other professional investors follow Musk's mood swings and "manipulation". I think the casualties are mostly the retail traders as always.

[Vaskiy]

Just because Elon has said favorably something about bitcoin again that Tesla might reconsider accepting bitcoin again, bitcoin isn't losing its importance. Actually, it's his right whether he say something positive or bad against bitcoin.

We just don't like him anymore based from what he has said. But I've realized that any company is free to express their acceptance or not towards bitcoin payments.

Expertise users have given clear description on the market scenario. Particularly it is clearly stated about the growth that has begun even before the conversation from Elon Musk. I agree on it, but is there anyone to say the ongoing growth hasn't got a small influence from Elon Musk conversation.

I believe it has got influenced by the statement. The positive impact is really enjoyable, but if he had given a negative thought about bitcoin will we be seeing the market to be bullish at present

It is true everyone got a freedom to express their thoughts, and when someone's thoughts are making wild disturbance it means the particular asset is under his/her control to certain extent. This is the only reason Why I mentioned bitcoin losing its importance. From expertise view it is different and my way of thinking has differed from by them in some way.

[Banprox]

I don't think that Bitcoin losing its importance. Crypto currency price can increase and decrease in any time. This is a normal attitude of crypto currency. Decreasing some price of Bitcoin can't show or prove that Bitcoin losing its importance. Bitcoin always a potential and popular coin and it will be in future.

[Wakate]

yes I think you are right ,BTC has a pretty big influence on the voices of some people and it many times depends on what Elon Musk says . they see BTC as a toy and they want to give up is to give up want to come back is to come back. BTC becomes the toy of the rich, gradually losing its value.

The same person that criticized Bitcoin before was now trying to induce people to accept the use of Bitcoin. Elon Must would I say is real man that gat the swag. I think it's now he is seeing the need to embrace the use of Bitcoin compared to what he had say earlier on about how Bitcoin is affecting the world green house gases, increasing the risks of people getting sick. The market has been influenced by people, big firms inducing tension and trying to make the market go their own direction.

[dunfida]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

This is a free market and its just normal that people do come out and go.Something manipulative?Yeah its a common one and better get used to it and act accordingly for your advantage.

Those news and sentiments are just common but doesnt mean that it is actually losing its importance. Decentralization is still there,they might able to manipulate on prices but

not on the full  scale considering that the supply isnt really just focused on them but somehow they could really make out some FUD.

[GeorgeJohn]

Bitcoin losing its importance and values gradually, letting billionaire's control the flow and movement of bitcoin rising and decreasing, its aweful to see such... gradually the cryptocurrency market will lose interest in bitcoin if such actions are not been controlled by themselves.
I hope for the growth of bitcoin and cryptocurrency market, a whole lot haven't gotten to benefit from it, I'm looking forward for the improvement of importance and values.

[maxreish]

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

At first I thought it was some kind of coincidence that whenever Elon Musk say something about bitcoin, the price eventually affected. But once again, why does it keeps on affecting everytime he said or tweet something?  This manipulation is kinda obvious, thus those followers were certainly believe that guy  no matter what he'll said.

For that importance of bitcoin, it wasnt fading or losing. The essense of being a cryptocurrency still use, that digital transactions are of great use especially this pandemic season.