Bitcoin Will Be a Failure Even If It Hits $100,000, Says "Black Swan" Author !!

[Fivestar4everMVP]

Am still yet to understand why it is only when the market is bearish that all this critics start to come out from where ever they've been hiding, well, talk is cheap indeed, for if we were to buy talk in the market the same way we buy goods and services, people would be more mindful of what to say or talk about, people wouldn't go out saying irrelevant things.
It is only fools that listen to and believe foolish talks.
For me, it doesn't matter what the price of Bitcoin is, Bitcoin is already a huge success, Bitcoin is freedom from financial slavery, and this, it has upheld since its inception.

[1714692511]

1714692511

[1714692511]

1714692511

[1714692511]

1714692511

[KingsDen]

Bitcoin promoters are betting on an eventual recovery that will vindicate their strength of conviction. However, even if the flagship cryptocurrency manages to surge to as high as $100,000 during another bull market, it will still be a failure, according to Nassim Taleb. 

I don't understand his logic about the bitcoin failure. Saying that even if bitcoin make $100k, it will still fail doesn't actually make sense. Maybe even if bitcoin make $1m, it will still fail.
It's just like saying even if I live upto 100yrs that I will still die. Is he coming from the premise that whatever that has a beginning must surely have an end?

Talking about El Salvador President Nayib Bukele, he is a great man and needs to be celebrated. From henceforth I consider him one of my bitcoin heroes. Holding strong and standing strong amidst bloody market and even buying more is a show of great believe in bitcoin .

[Zanab247]

I don't see any situations that which Bitcoin will be a failure, as long as the network will be up and kicking, it will be not a failure for me.
People are still using it and regarding the price of Bitcoin, it's still working, you can still use it as payment.
I think people base how Bitcoin is becoming successful or a failure on the price of Bitcoin, and how it dumps and pumps.

Based on what people has experienced during the pandemic, showed that nothing can bring Bitcoin down or to become a failures in future. People that really understood Bitcoin know that, this is the best time to buy bitcoins and hold for the Market price to look good before he or she can supply to market to make a passive incomes. Many countries has tested bitcoin investment in their land to believe that bitcoin can help many countries to grow their economy, and their citizens in the land. Nothing will happen to bitcoin because Satoshi the founder of Bitcoin created it to solve the problems of financial institutions in our land.

[romero121]

Whenever the market bleeds we can see more such statements of failure and death. No matter what different people think about bitcoin, it grow of its own. When such negative statements reach the noobs, they hesitate to make their entry into the market. So, whenever such statements were putforth by different people good is to stay away from such discussions.

[EdenHazard]

You won't find a fail or success in bitcoin.

All you can witness is a legacy that bitcoin bring into our lives , no matter in term of funcionality , impact and various benefit.
Sometimes even if you clearly seeing a huge impact made by bitcoin ... it could still be considered as a failure at someone else point of view.

[nullama]

Bitcoin will continue to generate blocks, roughly every 10 minutes.

Transactions will continue to be made all around the world, 24/7, unrestricted.

New services will continue to be built on top of Bitcoin, such as lightning.

Not sure how that is a failure, independent of the price of it, which most probably will continue to rise.

I think he just wants to be featured in https://www.bitcoinisdead.org since I haven't see him there yet.

[slaman29]

He is one more in a row who is unable to see things from the right perspective, and like the majority, believes that Bitcoin was created to make people rich overnight, or to beat inflation overnight. People who invested in Bitcoin at different times have different opinions - the one from 2015 says that Bitcoin is an excellent hedge against inflation, the other who invested at prices higher than $20 000 obviously has a completely different opinion.

Which would be understandable if it was only Bitcoin they got, but the thing with these guys is they also got into other shitcoins, probably even into stocks and other assets, and they will not be going into other shitcoin forums or stock forums and yell the same things. As you say, better to ignore I guess. Can't help sometimes.

But why are we so concerned about this hedge against inflation which, anyway, was never even what it was supposed to be. I mean if it was, we would have seen something about it in the Bitcoin whitepaper right?

You don't have to. First, because there are times when an invention goes beyond what its creator foresaw, and second, because the fact that it was not explicitly included with the term inflation hedge in the whitepaper does not mean that it was not foreseen for it, being a deflationary currency, with a decreasing supply and with a total production limit of 21 million, it looks quite like inflation hedge.

That's the nature of evolution, I think Bitcoin will end up being very different things to what was originally envisioned but the thing is OP was complaining as if this was what (inflation hedge) Bitcoin was supposed to be, when it wasn't. Not to the point he was trying to make anyway.

Deflationary currency isn't the same as inflation hedge I would say. Inflation resistance maybe.

[rodskee]

You won't find a fail or success in bitcoin.

All you can witness is a legacy that bitcoin bring into our lives , no matter in term of funcionality , impact and various benefit.
Sometimes even if you clearly seeing a huge impact made by bitcoin ... it could still be considered as a failure at someone else point of view.

You might be right because people will never be contented in anything they are desiring , like at some point they are wishing this to reach 1k ,  then after 10k, and then now 100k , so what will be the next?
the only permanent thing here? is that what they wanted to see and bitcoin to achieve and when they fail, always the blame for bitcoin .

[Lucius]

Talking about El Salvador President Nayib Bukele, he is a great man and needs to be celebrated. From henceforth I consider him one of my bitcoin heroes. Holding strong and standing strong amidst bloody market and even buying more is a show of great believe in bitcoin .

There is no doubt that the man has a very firm and clear attitude towards what he does (unlike many others), but even though it may seem like the right way to us, he does not invest his money but the money of all his citizens. No matter how much we believe in Bitcoin, we have to admit that he is somehow gambling with money that is not his, and at the same time, he is risking his political career in case anything goes wrong. At the same time, I don't think that only the price is the most important factor, but also the security of the Bitcoin he buys - in case of hacking or some kind of embezzlement, he would quickly turn from hero to tragic.

[Leviathan.007]

I have no idea about what he truly believes about bitcoin and I don't really care about it, there are many authors and analyzers who believe the project failed to act as a hedge against inflation and there are some other people who believe in the opposite way in meanwhile the truth can be discovered from the chart of price and what we see on the market, just a few years ago when the price was below 20K these people were saying bitcoin is too expensive and that's a price bubble and now in nearly the same price they say bitcoin failed because of that, while it's not a logical statement by this author.

[GiftedMAN]

Whenever the market bleeds we can see more such statements of failure and death. No matter what different people think about bitcoin, it grow of its own. When such negative statements reach the noobs, they hesitate to make their entry into the market. So, whenever such statements were putforth by different people good is to stay away from such discussions.

This is not the first time am hearing this negative statement about bitcoin on BTT since the bear market started. So many people have come out to air out their views and I think this is no longer funny, we can not stay away from bad and discouraging posts here since it has already been seen as a thread, I think the best thing to avoid this kind of heart touching stories about bitcoin is to get them moved to the trash because it adds no value nor does it teach bitcoiners anything good order than making them feel that all they Invested is dead and buried, we have to avoid people who will add no meaningful things here.

[Adbitco]

I think we heard series of stories concerning the failure of bitcoin early from 2017 to 2018 which many predicted to be the end of bitcoin but take a look at today bitcoin still gains more popularity ever since then.
There problems is they fails to study much about Bitcoin and its futures, is very easy to air out all such of statements concerning its progress, which many people kept listening ear to them, at last same people would secretly go buy Bitcoin to keep others in the dark.
For my experience so far from here i hardly pays attention to all news about bitcoin.

[KingsDen]

Talking about El Salvador President Nayib Bukele, he is a great man and needs to be celebrated. From henceforth I consider him one of my bitcoin heroes. Holding strong and standing strong amidst bloody market and even buying more is a show of great believe in bitcoin .

There is no doubt that the man has a very firm and clear attitude towards what he does (unlike many others), but even though it may seem like the right way to us, he does not invest his money but the money of all his citizens. No matter how much we believe in Bitcoin, we have to admit that he is somehow gambling with money that is not his, and at the same time, he is risking his political career in case anything goes wrong. At the same time, I don't think that only the price is the most important factor, but also the security of the Bitcoin he buys - in case of hacking or some kind of embezzlement, he would quickly turn from hero to tragic.

You are right. But at same time I feel he has financial advisors, he has a team he believes and also has has some bitcoin experts advising him. Tbh, investment into a bitcoin is first considered a gambling before it is called an investment.  This could be the reason for the famous rule of not investing more than what you will lose.
El Salvador is already in it, selling at lost will be disastrous to them. Waiting till bull run might look unending. Buying again at low is a wise decision though. Before btc will get to $40k they should be running into profits.

Talking about his political career, I think it's already in decline, we are waiting for bitcoin to save it.

For security of fund, bitcoin is very secured but I don't know of El Salvador end, but a country should be able to have a great means to secure her fund.

[hd49728]

They can say so even if Bitcoin reaches to $1 million. They don't like Bitcoin so they will igonre all achievement it has gotten and will get in future. If you can not convince them, let them be with their limited viewpoint. You don't have to try to change them.

They missed a difference between price and value. Having volatile price does not mean it fails to grow and maintain its value. Value decides by ultility and use cases for people that Bitcoin already succeed. It dont fail to increase its value.

[The Cryptovator]

Haters are talking about Nayib Bukele's losses due to the recent dump. But have you imagined when he is buying more means his average price has been reduced? Who is holding Bitcoin they aren't holding for today. They are holding for the future. Just imagine what will be the profit even if Bitcoin touches ATH again? We know very well Bitcoin repeats its history. So nothing is impossible. Bitcoin isn't a failure even at the current price, forget about the 100K range. Haters always will find a way to create FUD. Lovers will find a way to create FOMO, this has become a general practice. There is no actual concern about their predictions.

[Sanitough]

If the bitcoin reaches those prices, no one will listen to these analyzes, so there is no point in them, especially at the present time, which everyone knows that it is difficult to reach these levels during the next two years.
What he is trying to say is just flattening historical phrases like “Bitcoin is a bubble” “Bitcoin is a Ponzi scheme” “Nobody but drug dealers use Bitcoin” “Only failed states accept Bitcoin.”

There are nothing new when it comes to bitcoin attacks. Those words are only good for those who are still naive about bitcoin, but for those who already know bitcoin well, these set of words will always be insignificant. And that bitcoin has never been a failure, because if it is, then majority of the people are dumping bitcoin by now. Instead, they never stop taking chances to buy as much bitcoin as they can. That only proves that bitcoin is still highly valuable.

[Finestream]

Any opinion is always welcome, especially when he has a TA, but in this case he exceeds in alternate comments, perhaps to give notoriety to the little influence of his true opinion, I think that this man is looking to start earning a salary as a frequent commentator and receive enemas from the American television companies that pay bonuses to their commentators (consultants).

His opinion has already fallen into FUDs, which aims to shake the market but that was only before as bitcoin investors and traders today are now more knowledgeable and more experienced so they are not really threatened by negative criticisms. He can be a commentator and stick on ruining bitcoin, but he will never succeeded on it because bitcoin will never fall into a worthless value, and the people are becoming mostly aware about it.

[Fatunad]

Any opinion is always welcome, especially when he has a TA, but in this case he exceeds in alternate comments, perhaps to give notoriety to the little influence of his true opinion, I think that this man is looking to start earning a salary as a frequent commentator and receive enemas from the American television companies that pay bonuses to their commentators (consultants).

His opinion has already fallen into FUDs, which aims to shake the market but that was only before as bitcoin investors and traders today are now more knowledgeable and more experienced so they are not really threatened by negative criticisms. He can be a commentator and stick on ruining bitcoin, but he will never succeeded on it because bitcoin will never fall into a worthless value, and the people are becoming mostly aware about it.

If you've been here on this market for a while then these calls or simply these FUD's wont really be that much effective nor could really affect the market overall.We know that adoption and recognition is on the move
or do progress as years passing by and its position into the market does signifies its superiority among other projects or coins in the market which i dont really have any doubts about it.Getting used to into those
sentiments or fuds is something  you should really need as an investor or supporter of bitcoin or in crypto as a whole.They would be continuing on throwing out fuds and other sentiments which isnt something
new or can be seen into this cryptospace so getting used to it would be the key and act normally.

[darkangel11]

Am still yet to understand why it is only when the market is bearish that all this critics start to come out from where ever they've been hiding, well, talk is cheap indeed, for if we were to buy talk in the market the same way we buy goods and services, people would be more mindful of what to say or talk about, people wouldn't go out saying irrelevant things.
It is only fools that listen to and believe foolish talks.
For me, it doesn't matter what the price of Bitcoin is, Bitcoin is already a huge success, Bitcoin is freedom from financial slavery, and this, it has upheld since its inception.

The answer is very simple. They come out in the bear market because they find a lot of support from people who lost money and feel bad about investing. They also don't see a lot of enthusiasm from bitcoin community to fight them because most people feel exhausted by a prolonged bear market and prefer to do other things and not look at the price. This makes bear market an ideal moment to express your negativity about something, pretty much like when police raid takes place at your neighbor's and bystanders watch it all and there's always that one guy in the group who says "I knew there was something fishy about him, he's probably a drug dealer or a gang member" and some others nod their heads in support and say "I never liked him too".

[stadus]

You won't find a fail or success in bitcoin.

All you can witness is a legacy that bitcoin bring into our lives , no matter in term of funcionality , impact and various benefit.
Sometimes even if you clearly seeing a huge impact made by bitcoin ... it could still be considered as a failure at someone else point of view.

You might be right because people will never be contented in anything they are desiring , like at some point they are wishing this to reach 1k ,  then after 10k, and then now 100k , so what will be the next?
the only permanent thing here? is that what they wanted to see and bitcoin to achieve and when they fail, always the blame for bitcoin .

I seriously don't know what you're trying to say here but honestly, I don't think that the investors like you or me had ever made a wish for a particular and specific price and at the same time thinks that it will be like that permanently. Do you think bitcoin will grow in the past decade if that's the case? Of course the answer would be a big NO.