Is Bitcoin close to becoming totally irrelevant for most "normal" people??

[riso2015]

if someone says bitcoin is almost irrelevant for normal people, in my personal opinion it's a very wrong argument, the argument of lazy people and the argument of impatient people, wanting to find wealth quickly and quickly, if you want wealth in the blink of an eye better you don't need to enter the world of bitcoin, bitcoin was created not to get rich in the near future, but bitcoin gives us the freedom and opportunity to make it easier for us in all aspects, without depending on others about the assets we have, the key to entering bitcoin is patience, and always prepare our mental to be strong to face criticism and blasphemy..

[sirminesalot]

I'll give you a few examples. The first example is kind of funny. The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter. They talk about all the money they made and now its your turn to make money. Only thing is 50k isn't the same as below 1K.
Another thing is that it's a lot harder for the market to lift 50K than 1K, try to lift 50kg and less than 1kg and see what is easier, the answer probably wont surprise you all that much.

The people who bought it at 1k was trying to pump it more so they wants other people to buy it at higher price, but how if the bitcoin price becomes 500k in the future years, the people who bought it at 50k is better than the people who missed the chance because they think the price is already high and won
t going up anymore.
In the ends the winner is the early player and who holds till the end, the more profits they will get and this works on the real quality products.

[o_e_l_e_o]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".

Always the same story with the newbies.

Bitcoin was created. People got on board. Then altcoins came along. Lots of people jumped ship. Bitcoin is old, boring, outdated. Altcoins are new, exciting, shiny! Couple of years later, 99% of these altcoins have died, lots of people have lost money, and they either rage quit the space altogether or come back to bitcoin.

Then ICOs came along. The next bitcoin! The bitcoin killer! The flippening! These are the future! People jump to ICOs. A year or two later, 99% of these ICOs have died, lots of people have lost money, and they slink back to bitcoin.

Then IPOs, IEOs, ITOs came along. The next big thing! Bitcoin can't keep up! Buy, buy, buy! A year or two later, dead, lost money, people come back to bitcoin.

Now DeFi and NFTs are on the scene. Better than banks! Better than bitcoin! Better than sliced bread! Buy this terrible overpriced picture of a monkey! This is definitely the future this time, we promise! Send us your money!

I'll see you in a few years for the next nonsense craze which is new, exciting, shiny, and with which lots of people will lose lots of money. And throughout all of this, what's the one constant? Bitcoin.

If that makes bitcoin boring for you, then feel free to go and lose your money on some scam instead.

[Lucius]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

You start your post by referring to the topic of a person who wants the price of Bitcoin to change 100% or more in one day (or week) - and based on which you conclude that interest in Bitcoin "going down rapidly"? Furthermore, no serious member of this forum will convince anyone to invest their money in any risky things including Bitcoin. After all, anyone who seeks financial advice online is more likely to make a loss sooner or later.

I'll give you a few examples. The first example is kind of funny. The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter. They talk about all the money they made and now its your turn to make money. Only thing is 50k isn't the same as below 1K.
Another thing is that it's a lot harder for the market to lift 50K than 1K, try to lift 50kg and less than 1kg and see what is easier, the answer probably wont surprise you all that much.

You’re speaking in the plural again, and that’s completely wrong because you think serious people on this forum are promoting Ponzi/multi-level marketing schemes in an effort to make a profit? It is completely irrelevant whether any member of this forum will ever buy even 1 satoshi, the game has completely switched to the playground of big players who buy tens of thousands of BTC every month - do you think anyone on this forum has an impact on all of them?

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...

How do you know that 1% of people are responsible for the price of BTC that we have today, and that by selling their share they would crash the market?
This is the same assumption as the one that has been circulating in the media from the very beginning, which emphasizes the story of what will happen if Satoshi appears and dumps its alleged 1 million BTC on the market - which is about 5% of max supply. A wet dream of many who would like to reset everything to 0 and then buy as much as they can - only all those poor souls are not aware that Bitcoin would never be worth even 10% of what it is worth today if that happened.

[franky1]

I'll see you in a few years for the next nonsense craze which is new, exciting, shiny, and with which lots of people will lose lots of money. And throughout all of this, what's the one constant? Bitcoin.

im saving this quote because O_E_L_E_O loves other networks, seems appropriate to make him aware of his own words used against him when he advertises other networks as "bitcoin 2.0"

If people want to have a profit, then bitcoin may not be what they should be looking for. It is nowhere stated that you'll get rich, the only thing said is that it's a currency.

in saving this quote too. as this same lover of other networks, has been saying for a while now that bitcoin is not a currency and instead people just treat his favourite other network as the currency utility

its kind of shameful that altnet people want to ruin all the features of bitcoin and limit its functions just to advertise their shiny new other networks

....
as for the topic creators posts
the 50k vs 1k scenario.. average joe does not need to invest $50k to 'get in' he can buy 1k. what you learn is that in bitcoin. in the hard code of the block and raw transaction data. there are no btc. there are only satoshis(sats).
btc is a graphical user interface bundled construct of 100million sats. its just a visual representation of large numbers

you dont need to buy 100,000,000 sats to 'get in' you can buy a few thousand if you want.
nothing stops anyone from buying 2000sats($1) or 2,000,000($1k)

as for market crash scenario.
in shares, a business can end up being valued at a negative balance sheet(debt) and thus end up leaving the market at $0 per share. but bitcoin is a mined asset like gold, which has actual acquisition costs. either from the mining, or buying from the miners or buying from the people that bought from the miners. these acquisition costs keep a underlying value above 0. there will never be a time where it costs minus $10 to have bitcoin. bitcoins are not debt nor potential debt.. it will always be the case where the cost is positive. bitcoin is not like company shares in any way

[bittraffic]

The argument about a person buying BTC with less than the price of BTC has been discussed in the forum before which anyone with even just $50 can hold mBTC in his wallet as long as he could to treat it as an investment. He doesn't need to buy 1BTC if he couldn't afford the current 1BTC price. Bitcoin is the most accepted cryptocurrency worldwide, it couldn't be irrelevant that way.

Some argument you may add is that BTC has no use case as they say. But this is also not true. In fact, the very use case of it is that BTC is being used to make more transactions compared to any other coins out there. The way for a cryptocurrency to have a use case is for it to be used in buying and selling.

[avikz]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

Bitcoin is a currency and not an investment. However, the fact is that bitcoin is unfortunately marketed as an investment by many centralized exchanges across the world. All of them have branded bitcoin as the best investment choice of the decade and trying to convince people to invest in it. Some are even running bitcoin deposit schemes. This is incorrect and can fire back at any moment. So bitcoin is not irrelevant to the normal people, rather the packaging of bitcoin is irrelevant here. It is a currency system and it should have been marketed in the same way. Which is unfortunately not happening! 

[TheNineClub]

That's all from the perspective of the bubble. See, we tend to get wrapped in what is happening in the crypto bubble that we are in, but the fact of the matter is that lots of interest is coming from people who are/were out of crypto until now. And seeing that that's a bigger percentage of the overall population than in the bubble, I'd say that things are looking up. And as for it losing relevance in our bubble, well, that's just the approaching bear market...

[vv181]

Sure, but most "dreamers" aren't really here for best case scenario 2X, they are here for 100x or more, and they are not going to get that from Bitcoin buying at 50K, they are probably much more likely to lose money buying at 50K than to 2X.
For that matter you might just as well buy stocks if your golden target is 2X.

That should be the case of other risk ratio management there is nothing to do with bitcoin itself.

The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter.

Some people in here are trying to feed that get rich pipedream buying BTC, the train left the station, the newbies weren't on it.

What I would love to see in here is some realism, that would be a nice change. Some are more realistic than others, but too many are trying to feed the pipedream.

You are saying the word "you" and "some people in here", who is supposed you that? I believe that is others opinion regarding any price and you can't prohibit someone to do that and it is sure others should not take other guesses as investment advice. I think it would be absurd that to not let some can't say any prediction, whether it realistic or insane prediction on the price, and letting newbies to solely rely on others rather than by themselves misses the point of why bitcoin has some value.

[A62662]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

Bitcoin is a currency and not an investment. However, the fact is that bitcoin is unfortunately marketed as an investment by many centralized exchanges across the world. All of them have branded bitcoin as the best investment choice of the decade and trying to convince people to invest in it. Some are even running bitcoin deposit schemes. This is incorrect and can fire back at any moment. So bitcoin is not irrelevant to the normal people, rather the packaging of bitcoin is irrelevant here. It is a currency system and it should have been marketed in the same way. Which is unfortunately not happening! 

Not all that many use it as a currency, hardly anyone really due to high cost and being slow. Its more popular as a hedge against inflation, but then again so is art, gold, old rare stamps, old rare coins, (fairly priced) stocks, property etc.

[stompix]

Not all that many use it as a currency, hardly anyone really due to high cost and being slow.

Have you actually tried to make a transaction, like in the last 6 months?
The median fee which still includes a lot of people that overpaid and a lot of transactions that are simply huge in size was constantly under $1 and even under 50 cents for the last 3 months, never going above 2$.
And this is the median, transactions with 1sat/b have normally got a confirmation within 2-3 blocks.

Not even going to mention LN, since it's going to trigger somebody ending in 1. 

Its more popular as a hedge against inflation, but then again so is art, gold, old rare stamps, old rare coins, (fairly priced) stocks, property etc.

So, have you checked the google trends for stamps, Aurelian coins, and properties in Kimberley?
Are they boring or not?

Now DeFi and NFTs are on the scene. Better than banks! Better than bitcoin! Better than sliced bread! Buy this terrible overpriced picture of a monkey! This is definitely the future this time, we promise! Send us your money!

I'll see you in a few years for the next nonsense craze which is new, exciting, shiny, and with which lots of people will lose lots of money. And throughout all of this, what's the one constant? Bitcoin.

No need for years, it's already here.
Metaverse coins and tokens are the new NFT, DeFi is already on its last legs, the hype is over, everybody has abandoned the revolution and moved to the next one, including some coins that have quickly "rebranded" themselves.

[Lanatsa]

That's all from the perspective of the bubble. See, we tend to get wrapped in what is happening in the crypto bubble that we are in, but the fact of the matter is that lots of interest is coming from people who are/were out of crypto until now. And seeing that that's a bigger percentage of the overall population than in the bubble, I'd say that things are looking up. And as for it losing relevance in our bubble, well, that's just the approaching bear market...

Bubble is something that could be applied or would be recognizable into those past years but as we do go further on where adoption or foundation becomes more solid or simply with recognition then I don't really

see that we are still on this kind of state.I don't get the point on being totally irrelevant for most normal people because it doesn't really need up that high technical knowledge on dealing with it.

It is just that some people couldn't really just put up some effort on engaging with it that's why they do really make out such sentiments.

[Fortify]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I'll give you a few examples. The first example is kind of funny. The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter. They talk about all the money they made and now its your turn to make money. Only thing is 50k isn't the same as below 1K.
Another thing is that it's a lot harder for the market to lift 50K than 1K, try to lift 50kg and less than 1kg and see what is easier, the answer probably wont surprise you all that much.

The second example is about scale and the law of high numbers;

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.

Do you have other examples, please share them with the rest of us for a more balanced forum reading experience.

I'm not sure that Bitcoin ever hit a point where it was relevant for the average person. In the early stages it had the potential to be a useful store of value which could be traded to buy stuff but so many people bought it up on the idea of only selling it at a higher price, that it took the usefulness out of the equation. If you have a finite supply of an item which is meant to be traded, but people start hoarding the item instead of trading it, then you have to consider whether it serves the original purpose and is worth the value that people are assigning to it. I think Bitcoin is great and serves a helpful niche, which seems to be sending over a few hundred dollars at a time across borders in a foreign exchange sort of service - it avoids all sorts of financial fees that get tacked on by middlemen. Beyond that, it does not work well in the current form as an instantaneous payment methodf that some people want it to be.

[Coyster]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I really don't know exactly how Bitcoin is boring to people who claim it is, the only thing I can imagine is that they prolly invested and the price didn't appreciate immediately just as they envisaged, but mind you that Bitcoin isn't a pump and dump coin like some of the altcoins around that investors can be lucky to put their money in and it appreciates asap and gives them good ROI, but it's very risky and only a few are lucky using that strategy. Having said that, Bitcoiners shouldn't even try to convince people to join the Bitcoin network, people should only invest cause they have done their research and find Bitcoin interesting and want to invest in it.

[24Kt]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I really don't know exactly how Bitcoin is boring to people who claim it is, the only thing I can imagine is that they prolly invested and the price didn't appreciate immediately just as they envisaged, but mind you that Bitcoin isn't a pump and dump coin like some of the altcoins around that investors can be lucky to put their money in and it appreciates asap and gives them good ROI, but it's very risky and only a few are lucky using that strategy. Having said that, Bitcoiners shouldn't even try to convince people to join the Bitcoin network, people should only invest cause they have done their research and find Bitcoin interesting and want to invest in it.

A lot of people do have high expectations on bitcoin. For most newcomers, they thought that this is their savior and way to get riches. However, they realized fast that it is not the case here once they got in. It would really take patience and understanding on what's going on before you can see your profits. I don't know how the OP distinguish people from normal or not. Because if you are a long timer here, you will understand that it would take hard work before you can reap your rewards.

[Shasha80]

Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I really don't know exactly how Bitcoin is boring to people who claim it is, the only thing I can imagine is that they prolly invested and the price didn't appreciate immediately just as they envisaged, but mind you that Bitcoin isn't a pump and dump coin like some of the altcoins around that investors can be lucky to put their money in and it appreciates asap and gives them good ROI, but it's very risky and only a few are lucky using that strategy. Having said that, Bitcoiners shouldn't even try to convince people to join the Bitcoin network, people should only invest cause they have done their research and find Bitcoin interesting and want to invest in it.

A lot of people do have high expectations on bitcoin. For most newcomers, they thought that this is their savior and way to get riches. However, they realized fast that it is not the case here once they got in. It would really take patience and understanding on what's going on before you can see your profits. I don't know how the OP distinguish people from normal or not. Because if you are a long timer here, you will understand that it would take hard work before you can reap your rewards.

Many newbies don't learn Bitcoin from reliable information, so they misunderstand Bitcoin and don't understand how Bitcoin works. So most newbies
are just in a hurry to invest in Bitcoin and expect instant profits, so they think Bitcoin can make people rich instantly. Yet the reality is not like that,
only people who have good knowledge and experience in crypto world, who will succeed in profiting from Bitcoin. Finally, many newbies panic about
the current bearish trend and blame Bitcoin. Whereas people who experience losses when investing in Bitcoin, because of their own mistakes
by taking the wrong decisions. If we want to succeed in making a profit from Bitcoin, we must first learn about Bitcoin from a trusted source,
after that we can start investing with small capital first, then later it will slowly make us understand how to make a profit from Bitcoin.

[Luqman]

Many newbies don't learn Bitcoin from reliable information, so they misunderstand Bitcoin and don't understand how Bitcoin works. So most newbies
are just in a hurry to invest in Bitcoin and expect instant profits, so they think Bitcoin can make people rich instantly. Yet the reality is not like that,
only people who have good knowledge and experience in crypto world, who will succeed in profiting from Bitcoin.

They may learn it from reliable/trusted information but they didn't understand it properly. The perception of instant profits or easy to be rich in crypto is the main mistake here. They will fail and won't last a long time in crypto if they only focus on that perception. It is not easy to succeed in crypto investment, I myself already experienced too many losses before earning good profits. If the newbies didn't change their perception, they probably will state BTC is boring after losses 2 or 3 times.

[uneng]

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.

Something like this is already happening as the interest rates for fixed income investments in USA are being raised by the central bank, so we see small crashes in bitcoin price, but at same time, as we can see, the price never falls too deep, because the average investors or even the biggest ones buyback right after.

This gives us a good hint on how strong and relevant bitcoin is for crypto market's members in general.

And even though the price heavily crashed, it would be the perfect opportunity for many buyers to boost their holdings for cheap price, consequently leading the price up again immediately.

[o_e_l_e_o]

Not all that many use it as a currency, hardly anyone really due to high cost and being slow.

Beyond that, it does not work well in the current form as an instantaneous payment methodf that some people want it to be.

Always the same pattern when the discussion moves to bitcoin as a currency. People who I bet have never actually even tried to used bitcoin as a currency come out and declare that bitcoin doesn't work as a currency and no one uses it as a currency. Meanwhile, there are people like me, who use bitcoin as a currency almost every day at a variety of different merchants. And all these merchants I spend bitcoin with certainly aren't accepting bitcoin because 1 customer (me) spends it there.

Bitcoin works great as a currency. Its fees are lower than that of credit cards, Paypal, etc., it is faster to confirm than every form of fiat transfer except handing over cash, there is no risk to the merchant of receive counterfeit cash or chargebacks, I can pay anyone in the world with no conversion fee, transfer fee, bank fee, exchange fee, etc. There are plenty of people who spend bitcoin as a currency and plenty of merchants who accept it. Claims that "it doesn't work" or "not that many people use it" are provably false.

[rozak]

Do you have other examples, please share them with the rest of us for a more balanced forum reading experience.

it happens many times . people come and go if they are not really interested with blockchain technology . in the end they came back again when bitcoin went up again. it all depends on people's trust in crypto. the hype in crypto does seem to go up and down. and stable. depends on the hype for "normal" people.

because indeed some of the people who come to the crypto market are because of the hype going on in the market. naturally when they see prices going down will show disbelief and some will leave the market. it is because they are not interested in the technology that is brought or developed. their interest is only in the market and does not understand how the crypto market mechanism works. this could just give rise to the thought of a scam. that's what causes some people to think the bitcoin market is something that doesn't make sense.