The so called "Internet community" of naysayers

[coolcoinz]

So I went to a doctor with my kid and out of pure boredom, while she was inside, started browsing 9gag. They were having a laugh talking how the idea of NFT failed with the market crashing and all that "going to 0" shit and of course the discussion was sidetracked into bitcoin with the general theme being that it's also worthless like NFT and also going to 0.
I read it for a second just to see how random people who spend time browsing memes see things that happen in our crypto space and I'd like to spare you all the crap and make it into some kind of a list, so here it is:

Bitcoin is worthless because there's no backing, unlike with fiat that is backed by states.
It just uses electricity and doesn't give anything back, it wastes energy.
Most of it is owned by just a few addresses so they decide if you win or lose.
It's going to 0 because it's a bubble like tulips and it's even smaller in size than tulips were.
It failed in El Salvador because nobody uses it, people just wanted free coins and stopped using Chivo when they got their coins out.
Only poor countries that don't know how to handle inflation will adopt bitcoin because they're out of ideas.
It lost so much value in the last year so it's not a hedge against anything. Gold lost less so it's a better hedge.

I used to think that people who hate technology and progress will be those who are too old to switch, like Warren Buffett or Peter Schiff, but young people who sometimes are working in tech jobs seem to rather be in fiat or gold, like the old generation. Personally, I would never be against something that gives people the freedom of choice and I'm not that young. I'd think people who are in their 20s should be backing freedom 100%, but guess not. On the other side, following the old meme, in the Internet nobody knows you're a dog. That could be a central bank employee trolling you on reddit

[SquirrelJulietGarden]

So I went to a doctor with my kid and out of pure boredom, while she was inside, started browsing 9gag. They were having a laugh talking how the idea of NFT failed with the market crashing and all that "going to 0" shit and of course the discussion was sidetracked into bitcoin with the general theme being that it's also worthless like NFT and also going to 0.

People lost their minds into money, speculation, profit, greediness and more. They don't spend their time to learn about technology and what it can change the world. NFT has multiple use cases that are helpful for many industries. I disagree with the hype on NFT and how KOLs try to take advantage of their reputation and this trend to get quick money. It makes people especially lazy and greed ones forget about a true value of NFT technology.

Bitcoin is worthless because there's no backing, unlike with fiat that is backed by states.

So having governments, central banks back behind fiat currencies, CBDCs or companies back behind stable coins will make them better than Bitcoin?

The answer is No and is shown on the market. Bitcoin is the King and CBDCs, stablecoins can only look at Bitcoin with jealous eyes.

Bitcoin itself does not need legal tender, legal approval from government to be transacted on its decentralized network and used by the people.

[mk4]

This is almost always the case with things, ain't it? People who don't know crap about any certain thing will have shitty opinions towards it; and to add to that, most of them just echo other crappy popular opinions on social media. This is the same demographic that likely doesn't have any single investment in the first place.

[IIrik11]

right now the buttcoiners r going crazy because the price is falling down and this is the time they declare that bitcoin is dead again.

even though they have been proven wrong on so many occasions and which will most certainly happen again but this is the time they have their yearly circle jerk.

[cryptoaddictchie]

I used to think that people who hate technology and progress will be those who are too old to switch, like Warren Buffett or Peter Schiff, but young people who sometimes are working in tech jobs seem to rather be in fiat or gold, like the old generation. Personally, I would never be against something that gives people the freedom of choice and I'm not that young.

Somehow I agreed. Buffet hate crypto and he really thought that this is just a scam. Not gonna argue with a guy whose wealth comes from a traditional investment. Maybe he just cant accept that some people are shfiting on this new called cryptocurrency. Thats the thing he already used to it on investing on stocks, not even looking on the positive side of the blockchain.

[avikz]

I knew NFT would fail when I saw the market values only hype and not real art. But that's not the case with bitcoin. So even I am wondering why bitcoin value is going down constantly! But I know that it's the best time to accumulate more bitcoins.

I wouldn't care about what 9gag says. Bitcoin has seen a fair share of controversy since its inception and despite all these, it has seen a strong growth. There will always be naysayers in the market but but doesn't matter a lot!

[Haunebu]

This is hardly surprising op. Most trolls these days are young people who feel proud of themselves in a pathetic manner by trolling different topics in various ways. Such fools should be ignored completely since interacting with them is meaningless.

If you believe in BTC and some other cryptocurrencies, that is all that matters at the end of the day if you ask me.

Bitcoin has proven again and again why it's a survivor in this messed up world which is why I am confident that it will continue growing slowly and steadily in the future.

[davis196]

Bitcoin is worthless because there's no backing, unlike with fiat that is backed by states.
It just uses electricity and doesn't give anything back, it wastes energy.
Most of it is owned by just a few addresses so they decide if you win or lose.
It's going to 0 because it's a bubble like tulips and it's even smaller in size than tulips were.
It failed in El Salvador because nobody uses it, people just wanted free coins and stopped using Chivo when they got their coins out.
Only poor countries that don't know how to handle inflation will adopt bitcoin because they're out of ideas.
It lost so much value in the last year so it's not a hedge against anything. Gold lost less so it's a better hedge

The sad truth is that all those points kinda make sense,especially if you are new to the crypto world.
All those points are valid,but that still doesn't mean that Bitcoin is worthless.
I won't advocate on the NFT industry.The NFT model is pretty new.It might fail miserably,or it might survive and thrive in the future.Nobody knows what will happen.
I know that many "internet communities" are pretty toxic and negative about everything.Just check out some subreddits on Reddit or some Discord servers.The internet is full of resentful incels and angry teenagers,who want to shit on everything,just because their own life sucks.

[Poker Player]

I used to think that people who hate technology and progress will be those who are too old to switch, like Warren Buffett or Peter Schiff, but young people who sometimes are working in tech jobs seem to rather be in fiat or gold, like the old generation.

Of course the younger ones are more likely to change if they study well what Bitcoin is. With people like Buffet and Munger there is no hope.

What also happens is that those young people who don't believe in Bitcoin had the opportunity to buy it at $1K to $10K etc., didn't do it and now are looking for excuses by way of confirmation bias to convince themselves that they did the right thing. It's a psychological self-defense mechanism: they look for anything in the news regarding Bitcoin that will reaffirm their belief that they are not assholes.

[Dunamisx]

the discussion was sidetracked into bitcoin with the general theme being that it's also worthless like NFT and also going to 0.

I want to believe that this people were not cryptopreneurs neither are they bitcoin investors else they wouldn't have come up with such analogy of saying bitcoin is coming to 0, even though the price volatility crashed to $20k there's much indication with full conviction that the price will surge up back finding it way to the top or even breaking forth the limit of ATH, this has been happening before now and bitcoin is unlike other shitcoins they first base their discussion on, bitcoin is a currency that has a global relevance, value and acceptability.

[aoluain]

I used to think that people who hate technology and progress will be those who are too old to switch, like Warren Buffett or Peter Schiff, but young people who sometimes are working in tech jobs seem to rather be in fiat or gold, like the old generation.

Of course the younger ones are more likely to change if they study well what Bitcoin is. With people like Buffet and Munger there is no hope.

What also happens is that those young people who don't believe in Bitcoin had the opportunity to buy it at $1K to $10K etc., didn't do it and now are looking for excuses by way of confirmation bias to convince themselves that they did the right thing. It's a psychological self-defense mechanism: they look for anything in the news regarding Bitcoin that will reaffirm their belief that they are not assholes.

Yes, there are those who will always seek out like minded people in order to validate their
opinions. 

In so many cases these no-coiners refuse to research or listen to facts. They remind me
people in the QAnon or Freemen movements or people who are anti-government on
everything. I think they will only have an influence on others with the same mindset.

[coolcoinz]

The sad truth is that all those points kinda make sense,especially if you are new to the crypto world.
All those points are valid,but that still doesn't mean that Bitcoin is worthless.
I won't advocate on the NFT industry.The NFT model is pretty new.It might fail miserably,or it might survive and thrive in the future.Nobody knows what will happen.
I know that many "internet communities" are pretty toxic and negative about everything.Just check out some subreddits on Reddit or some Discord servers.The internet is full of resentful incels and angry teenagers,who want to shit on everything,just because their own life sucks.

I agree with you, that was my experience with random people in the Internet that you can find in the comments under articles and youtube videos, on reddit and other platforms.
Those are always people who never had any real experience with cryptocurrencies, just stay in the sidelines and spew hate on everything and everyone.

The only thing that amazes me is that young people, usually in their 20s and 30s still support the current financial system and hate instruments that look to undermine it.
I'd expect young people to have more libertarian views.

[hatshepsut93]

There will always be people who oppose something, this is the reality of life. Also people for some reason have a strong urge to have a strong stance on every matter in the world, so when it comes to crypto they either support it or oppose it, they can't just say "I don't know much about it, so I don't think much about it". This is especially common on the Internet and discussion platforms like reddit, when everyone is an "expert" on everything.

[serjent05]

Bitcoin is worthless because there's no backing, unlike with fiat that is backed by states.
It just uses electricity and doesn't give anything back, it wastes energy.
Most of it is owned by just a few addresses so they decide if you win or lose.
It's going to 0 because it's a bubble like tulips and it's even smaller in size than tulips were.
It failed in El Salvador because nobody uses it, people just wanted free coins and stopped using Chivo when they got their coins out.
Only poor countries that don't know how to handle inflation will adopt bitcoin because they're out of ideas.
It lost so much value in the last year so it's not a hedge against anything. Gold lost less so it's a better hedge.

These are the common misconception that naysayers always emphasize.  They just pick one bad BTC scenario and intentionally twist and exaggerate it to gain public sentiment and disregard the good majority of it.  Just like how they isolate the loss in value during the bear market without looking at the decade history of the Bitcoin market.

I used to think that people who hate technology and progress will be those who are too old to switch, like Warren Buffett or Peter Schiff,

I don't think old people hate technology, they are just stubborn or a bit slow to accept the importance of emerging trends of technology.

but young people who sometimes are working in tech jobs seem to rather be in fiat or gold, like the old generation.

This is because they are too technical to grasp the economic/financial function of cryptocurrency.  They seldom believe in magic just like how they look Bitcoin as work of magic but once they deciphered the mystery behind Bitcoin progress, they will be the most dedicated Bitcoin advocates.

[CaVO32]

There will always be people who oppose something, this is the reality of life. Also people for some reason have a strong urge to have a strong stance on every matter in the world, so when it comes to crypto they either support it or oppose it, they can't just say "I don't know much about it, so I don't think much about it". This is especially common on the Internet and discussion platforms like reddit, when everyone is an "expert" on everything.

That's the reality of life and we can't expect everyone just to say yes for something. But I believe, those who are heavily opposing this market need to educate themselves or experience an actual crypto transaction. And that for me, may change their perspectives towards this new technology. Most of those that are against with this industry have no idea what they are saying. But once they got involved, definitely, they will change their position.

[DapanasFruit]

This is quite normal, I would say. When the Bitcoin is down, we can always hear many people saying and convincing themselves that this is just another crap that will be worthless soo but but the time Bitcoin is going up again all we hear are praises on the things good with it...as critics and non-believers can then be silent. We should understand that all of these narratives against Bitcoin are not new and they keep on surfacing again and again. In other words, this is not the first time nor will be the last!

[TheBeardedBaby]

Lol, I fight those trolls in real life like every single day. They all had fun of me buying bitcoin at 4k when I missed the summer of 2017 and since then they all talk about the bubble, how everything crypto related will end and go to 0.
Those are just angry people who missed their opportunity to enter earlier and they envy you because you made it, and they don't want you to succeed. They know that you are right, and trying to find the most ridiculous excuses just to make you feel bad, and probably sell your coins. They don't want you to make profits just because they missed it, that's all.
Bastards.

[Wexnident]

There's always someone on the opposite side really, nothing we can do about that. It's even sadder that when we face them with facts, instead of accepting it (but they can still stand by their opinion ofc), they'd simply attack you with the old Bitcoin scenarios that went pretty bad, which is I think natural, but not for them. "If it goes down (or has negatives), then that means it's a bad" kind of mentality, and yet they also fail to hold the same mentality for what they defend (say, fiat, or gold).

[ChiBitCTy]

I don’t agree that NFTs have failed, not sure what you’re looking at exactly. There are still a lot of projects which are still up and running pretty strongly. Not to mention NFTs offer utility that goes beyond “digital art”. Also, I personally don’t find that many young techy types who hate on bitcoin. My experience has been very different from the one you paint here.

[amishmanish]

Any technology when arrived was no at its best, take electricity, In start DC current was the most commonly distributed through small powerhouses. Edison was proponent of DC, while tesla stood for AC. edison used his clout to defame AC current, but since AC current was more efficient to distribute and use. It eventually won.
SO no matter what naysayers say the technological superiority of Bitcoin will always outweigh all the disinformation being soread and down the line 10 years these naysayers will be standing in line to buy crypto.

Just invest sensibly, HODL and wait.