People Overthink Potential of Bitcoin

[Kasabus]

The government wants complete control over everything, this is incompatible with the concept of freedom, Bitcoin provides decentralization and financial freedom for people, but at the same time it is more transparent, you can track transactions that take place in all their details on everything that is clear on the Blockchain and cannot be hidden, the biggest evidence is the news that We heard it two days ago about the theft that took place in the Bitnifix platform since 2016, the couple was arrested after all these years and the government was able to monitor the bitcoin that was stolen and know all its movements since that time until now, although they succeeded in stealing bitcoin but they did not succeed in Transferring it to fiat, this is evidence that Bitcoin cannot be completely outside the control of the government.

Bitcoin even how much we see it as decentralized, it cannot fully escape from the shadow of the government. This is why most of the crypto exchanges today prefer to be centralized. However, bitcoin is less controlled by the authority so we can expect that its more focused on its proof of work. And this makes people prefer to use bitcoin as an investment and as a currency over the government's centralized fiat and traditional investment.

[Sanitough]

Government had played soft with bitcoin for a long time and the news this morning that the US government hold $3.6 billiion is just damn to bullish on the long term. Bitcoin is more of an SOV, very few use cases but a guaranteed digital asset with low risk as long as you hold. Bitcoin is no more a discovery, it more than an invention and adoption cant be controlled anymore.

Another thing is that we do not know which governments and which big players/whales are holding bitcoin secretly. I am sure the governments are also accumulating bitcoin but due to some unforeseen pressure, they hesitate to tell this openly. Also, i think that most people underestimate the potential of bitcoin and they don't anticipate high bitcoin price increase in the near future.

Most of the people do not trust an investment or a currency if its not totally backed by the government, and this is the case for bitcoin. But for smart people who always aim for financial freedom which is very impossible to achieve from fiat, then bitcoin will be the perfect choice. However, bitcoin does not guarantee profit taking all the time, as its very volatile and its price is easily affected by the market trends and sentiments. But if you compare fiat from bitcoin, bitcoin creates more opportunities to earn and gain financial security.

[Ryker1]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

Well I totally agree --people's perceptions of bitcoin nowadays are highly irritated, as they believe it will save the world and replace fiat currency, which is not entirely accurate. Because of their imaginations about bitcoin's potential, they are expecting more and more from it. Bitcoin was established only for the purpose of allowing people to have financial freedom. Only those with a high level of psychosis predicted that bitcoin will replace fiat currency.

[carlfebz2]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

Well I totally agree --people's perceptions of bitcoin nowadays are highly irritated, as they believe it will save the world and replace fiat currency, which is not entirely accurate. Because of their imaginations about bitcoin's potential, they are expecting more and more from it. Bitcoin was established only for the purpose of allowing people to have financial freedom. Only those with a high level of psychosis predicted that bitcoin will replace fiat currency.

They do really get out of control when it comes on their positive mindset on where they do believe on things which it isnt already that realistic because government wouldnt really let things to happen
and also it is really that we cant really deny that we do need centralized system which would really able to handle out people or the community.It is just Bitcoins existence would really be
an alternative which would really tend to get out on that centralization which people should be thankful but they shouldnt really go into that point which it turns out to be unrealistic.

[Drnice]

Truly, there is need for rule to maintain order, to some extent, these rules becomes over used against the oppressed party and it is no more conducive by whom the rule is made for. One thing about power is, no one goes against the law makers, and yet they fail the law which they have implemented. No one persecutes them, because they own the pesecutors. Financial freedom is a freedom that every human desire to have, to elevate him/herself from continuous round the clock work.

Bitcoin is not really against the government or corporation (the government against Bitcoin), but rather against the banking sector, and because of this, the government takes it illegal because they don't have access to control it, neither do they make gains from it. All they are concerned is to make gain from every individual, not giving to these individuals.

It is like saying, you have the greatest chance of having a diamond (as big as your fist) and the government found out, saying you don't have the right to own such a precious stone, because it is not theirs or in their own possession. The blockchain technology is an open source for everyone who can make judicious use of it, not that it is free, but you'll have to render some tasks before you earn it.

Bitcoin is an alternative to fiat or native currency and Bitcoin does not have the intention of replacing fiat, but rather to be an option of investment, a store of value that always appreciate over time, yet with risks attached to it.

[suzanne5223]

This is just a straight to the truth post. Anyways since we are all fans of the Bitcoin thing. It is true it does offer economic benefit to many. However. Some of the ideas Bitcoin can bring forth will never be true.
People think that Bitcoin will free them from governments and corporations.

You personally underestimate the potential of Bitcoin. It was not create to free people from the government but to free people from the financial disaster caused by the government.

In general at the end of the day someone has to be in charge.

This is only valid to centralized project and exchange.

Too many ideas and different thoughts conflict with one another.

Can the government settle the conflict between their own system.

More less Bitcoin will not get rid of any rules of leadership.

Bitcoin was create to get rid of any leader but it was create in democratic way.

I am not trying to dismiss Bitcoin, But sometimes people have to wake up to the truth.

You are just trying to wake people to the everyday lies the government told them.

[AakZaki]

It also depends on their main goal, if you want to make a long-term investment, of course holding is the main choice, buying at a lower price and holding it until the target price has been reached. But it's different if those who want quick profits can use the scalping method and this will certainly provide instant profits, but with orders that are continuously made. Take advantage of the fast fluctuations in bitcoin prices so you will get a lot of benefits. All of that requires technical analysis and fundamental trading knowledge, without trading knowledge it can't be done well.

[freedomgo]

Truly, there is need for rule to maintain order, to some extent, these rules becomes over used against the oppressed party and it is no more conducive by whom the rule is made for. One thing about power is, no one goes against the law makers, and yet they fail the law which they have implemented. No one persecutes them, because they own the pesecutors. Financial freedom is a freedom that every human desire to have, to elevate him/herself from continuous round the clock work.

Bitcoin is not really against the government or corporation (the government against Bitcoin), but rather against the banking sector, and because of this, the government takes it illegal because they don't have access to control it, neither do they make gains from it. All they are concerned is to make gain from every individual, not giving to these individuals.

It is like saying, you have the greatest chance of having a diamond (as big as your fist) and the government found out, saying you don't have the right to own such a precious stone, because it is not theirs or in their own possession. The blockchain technology is an open source for everyone who can make judicious use of it, not that it is free, but you'll have to render some tasks before you earn it.

Bitcoin is an alternative to fiat or native currency and Bitcoin does not have the intention of replacing fiat, but rather to be an option of investment, a store of value that always appreciate over time, yet with risks attached to it.

Bitcoin is not here to compete with fiat, but the government is seeing it as a threat to fiat. The truth is it will never really come to a point that bitcoin will replace fiat, but maybe become an option for it in the near future. However, having bitcoin as an investment is definitely better than the traditional investment, but that does not happen easily. All comes with risk, and the more your become fearless about it, the more you work hard to earn it, the bigger the chances you will be successful in the end.

[stadus]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

Well I totally agree --people's perceptions of bitcoin nowadays are highly irritated, as they believe it will save the world and replace fiat currency, which is not entirely accurate. Because of their imaginations about bitcoin's potential, they are expecting more and more from it. Bitcoin was established only for the purpose of allowing people to have financial freedom. Only those with a high level of psychosis predicted that bitcoin will replace fiat currency.

They do really get out of control when it comes on their positive mindset on where they do believe on things which it isnt already that realistic because government wouldnt really let things to happen
and also it is really that we cant really deny that we do need centralized system which would really able to handle out people or the community.It is just Bitcoins existence would really be
an alternative which would really tend to get out on that centralization which people should be thankful but they shouldnt really go into that point which it turns out to be unrealistic.

Those people who have overestimated the potentials of bitcoin will always believe the things that they want to build on their personal thinking. Even to the extent of becoming it more unrealistic to the eyes of most of the people.  But we cannot blame them as they are only carried away and become blind to their own expectations.  Its just that they need more facts than fake testimonies, they need to lose because that will help them to realize that they are making the wrong expectations.

[Fatunad]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

Well I totally agree --people's perceptions of bitcoin nowadays are highly irritated, as they believe it will save the world and replace fiat currency, which is not entirely accurate. Because of their imaginations about bitcoin's potential, they are expecting more and more from it. Bitcoin was established only for the purpose of allowing people to have financial freedom. Only those with a high level of psychosis predicted that bitcoin will replace fiat currency.

They do really get out of control when it comes on their positive mindset on where they do believe on things which it isnt already that realistic because government wouldnt really let things to happen
and also it is really that we cant really deny that we do need centralized system which would really able to handle out people or the community.It is just Bitcoins existence would really be
an alternative which would really tend to get out on that centralization which people should be thankful but they shouldnt really go into that point which it turns out to be unrealistic.

Those people who have overestimated the potentials of bitcoin will always believe the things that they want to build on their personal thinking. Even to the extent of becoming it more unrealistic to the eyes of most of the people.  But we cannot blame them as they are only carried away and become blind to their own expectations.  Its just that they need more facts than fake testimonies, they need to lose because that will help them to realize that they are making the wrong expectations.

Sooner or later they would really be ending up on neither frustrations or extreme gladness whatever the situation we might able to face in near future which we couldn't really able to tell on what future
looks like.We do have our own impressions and views on things just like that dude mentioned above and i couldn't also blame them off on why they do really ending on having unrealistic claims
that bitcoin could able to achieve or reach something like this or that.

[sayaya17]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

I think at least it can help alleviate poverty and it has done to many people. It can help students who cannot take day job but need online job internationally along with their study. Those who have unemployment in their country and cannot go abroad for earning can give service to any company with their skill and it will alleviate their poverty without spending huge amount on visa dn ticket to developed countries.

I agree that Bitcoin can help alleviate poverty, because Bitcoin is proven to be profitable if used properly. Bitcoin can be a side job for people
who need income from online, those who need money can earn from Bitcoin. Because me and some of my friends have proven it, after investing
and trading Bitcoin can improve my economy for the better. But be careful Bitcoin does not immediately give us profit overnight, there is a process
that we must go through first. That's very important we learn Bitcoin from reliable sources, so that we can get information about Bitcoin correctly,
so we can use Bitcoin well too.

[TelolettOm]

It is about what they believe on some prediction that Bitcoin will rise very potentially in the previous year. Moreover, if we are looking at the cycle, it should happen, and we also know that Bitcoin adoption is also growing highly. But in fact, the truth is the opposite.
We know that the price of Bitcoin cannot reach the expected rate. Moreover BTC has dropped several times reaching the bottom support. We now that this is not permanent, still keeps increasing.
However, we still dont know if the Bitcoin will really fulfilthe people expectation about rising price until reaching around $100k or not.

[ReiMomo]

Bitcoin is being accepted as a currency as well as an asset. Hence, Bitcoin's growth has proved that its characteristic stands unique unlike other assets and currencies. And since investing on Bitcoin has yielded huge profits to many, the market tend to focus on investing into Bitcoin. Yes, there has been a over hype marketing for Bitcoin but it does not stand just with it. Its moving on benefiting everyone if now soon. Whatsoever might be spoken in the market, its one of the best platform to invest and earn but high risk is involved. Be aware of scams for sure.

[KaliLinux]

Bitcoin is more against the banks and central banks then against the governments or corporations.
It's more about having more financial control and freedom to do things with your money and do it in different ways.
It's about making sure that you don't have to worry about what other people are doing with their currency since nobody or group can control BTC

-Dave   

Isn't the banks and central banks the same as the governments or corporations? We all know the central banks are the government and the other banks are the corporations so on this note, is Bitcoin not against the government and the corporations? Like in Nigeria and some other countries where the government banned Bitcoin trading, that statement came from the Central Bank which is still an arm of the government so I don't think it's that easy to separate them.

[KingTin]

I think you are way underestimating the potential of bitcoin.

The key for bitcoin is exist and be durable.
If everything works out, you have a monetary system that is independent of any regime in the world, and will outlast governments.

Even at this basic level, bitcoin is already ideal to just hodl till the end of time.
It's just a matter of what value it would be traded at.

Let's say USD as a world reserve currency has fallen and replaced by RMB, whos' to say RMB will last as long and won't make the entire global monetary system even more fragil.
At some point people would just want to hold something more durable.

Also I am a foreigner, I hold US stocks not only for the growth but also as a currency hedge. It makes perfect sense for me to hold bitcoin.

[kotajikikox]

I don’t think that any government except the Chinese government has taken any harsh steps against bitcoin so far. They don’t clearly say it, but they support bitcoin and that’s why people have been having a great time trading it and making money.

And Chinese government is not that fool to make harsh action towards bitcoin because they knew what this can bring them and what helps bitcoin can give to them.

so yes there are only overthinking but not harsh statements.

I think you are way underestimating the potential of bitcoin.

The key for bitcoin is exist and be durable.
If everything works out, you have a monetary system that is independent of any regime in the world, and will outlast governments.

Even at this basic level, bitcoin is already ideal to just hodl till the end of time.
It's just a matter of what value it would be traded at.

Let's say USD as a world reserve currency has fallen and replaced by RMB, whos' to say RMB will last as long and won't make the entire global monetary system even more fragil.
At some point people would just want to hold something more durable.

Also I am a foreigner, I hold US stocks not only for the growth but also as a currency hedge. It makes perfect sense for me to hold bitcoin.

I think you are way underestimating the potential of bitcoin.

The key for bitcoin is exist and be durable.
If everything works out, you have a monetary system that is independent of any regime in the world, and will outlast governments.

Even at this basic level, bitcoin is already ideal to just hodl till the end of time.
It's just a matter of what value it would be traded at.

Let's say USD as a world reserve currency has fallen and replaced by RMB, whos' to say RMB will last as long and won't make the entire global monetary system even more fragil.
At some point people would just want to hold something more durable.

Also I am a foreigner, I hold US stocks not only for the growth but also as a currency hedge. It makes perfect sense for me to hold bitcoin.

Well said mate , Salute to your action towards investment and monetary aspect , you really knows what the future can bring .

[LUCKMCFLY]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere. It is supposed to be used as a supplement to existing financial framework that we have, which is fiat. It was never meant to topple fiat anyways, and those who think otherwise are completely delusional and straight up tripping. Also, in the aspect of 'control,' it simply means that we have the freedom to keep our assets somewhere without financial institutions and governments trying to influence it.

Well I totally agree --people's perceptions of bitcoin nowadays are highly irritated, as they believe it will save the world and replace fiat currency, which is not entirely accurate. Because of their imaginations about bitcoin's potential, they are expecting more and more from it. Bitcoin was established only for the purpose of allowing people to have financial freedom. Only those with a high level of psychosis predicted that bitcoin will replace fiat currency.

What happens is that people today let themselves be guided a lot by the simple fact of following everything that the news tells them, they are dependent on it, very few are the ones who read and look for articles as such on the economic technology that it represents. BTC and cryptocurrencies, currently people are beginning to update on this topic because they have seen that some rules are being regulated for the acceptance of BTC in their economy, and this has aroused more curiosity, in addition to everything that represents money, people begin to see it with different eyes.

[AicecreaME]

I agree that I read a lot of stuff on here that actually makes me cringe. People thinking that Bitcoin will solve all of the worlds problems is simply just not the case. Maybe the most annoying one for me is people thinking that bitcoin replaces or will replace the financial industry, which is just simply not even remotely going to ever be the case.

I agree with this.

Bitcoin isn't the solution for every problem like what people perceive it to be. Although it seems very ideal, it isn't the case. Bitcoin isn't magic that will make someone invincible and be far from the hands of the government because as much as someone wants to do nothing with the government, it won't be able to avoid it. In every way, the government is going to be involved. Talking about the mere existence of someone in a state that is governed by the officials as well as the need to abide according to the laws and rules set by them. Even the smallest transactions made involve government due to taxes.

Bitcoin may be a safe haven from inflation. A good store of value and a good payment method as well to experience convenience, but it won't really conciliate difficult problems that in the beginning, is already out of its reach. Let's not glorify it so much to the point that people expect so highly of it without even equipping themselves with the knowledge and skills that they need.

[Henrobakkara]

I think you are way underestimating the potential of bitcoin.

The key for bitcoin is exist and be durable.
If everything works out, you have a monetary system that is independent of any regime in the world, and will outlast governments.

I believe that we are all for Bitcoin but as the topic states, "People Overthink Potential of Bitcoin" even in the medieval era, there has been some sought of government so stop thinking Bitcoin will outlast any government.

Even at this basic level, bitcoin is already ideal to just hodl till the end of time.
It's just a matter of what value it would be traded at.

You are right about that because we do read here in this forum how people are still hodling some coins/tokens with no value what so ever and Please this is not me equating Bitcoin to those but just stating that you can HODL your Bitcoin asset but what it will be traded at in the future is to our imagination.

Let's say USD as a world reserve currency has fallen and replaced by RMB, whos' to say RMB will last as long and won't make the entire global monetary system even more fragil.
At some point people would just want to hold something more durable.

Also I am a foreigner, I hold US stocks not only for the growth but also as a currency hedge. It makes perfect sense for me to hold bitcoin.

Even though I see that as an assumption, however, if it did fail what would your US stock amount to?

So my take in all of this is, let's just enjoy BTC as a hedge against inflation and not a replacement to the financial system

[GeorgeJohn]

Bitcoin will never free us from governments, or even help alleviate poverty anywhere.

Bitcoin will free us from government, so everything it's base on your perspective and assumptions, from my own theory of understanding cryptocurrency, i may said that Bitcoin specially have eradicated poverty since it's existence, if you have invested in cryptocurrency and and adventure into profit before, you will understand that Bitcoin is really elevation.