My Champions in this Bitcoin Winter

[Zlantann]

It is glaring that Bitcoin is now in its winter season because of the sharp drop in price. But, just recently I observed that regardless of the fall in price of Bitcoin, an exchange company just put up a giant billboard in my area advertising Bitcoin.


The Message is "Leave Talk, Buy Bitcoin". Which means " Stop Talking, Just Buy Bitcoin"

The price of putting up such advert is very expensive. We all know that people and businesses are into Bitcoin for personal gains but the truth is that regardless of the challenges Bitcoin is facing, there are some die-hard supporters that believe in the goals and visions of Bitcoin. This individuals and businesses are willing to take the risk and damn the consequences of their continuous unwavering support for Bitcoin. These are my set of Bitcoin heroes that deserves commended. Some of them are highlighted below;

Nations Adopting Bitcoin as Legal Tender: Presidents Nayib Bukele and Faustin-Archange Touadera deserve commendation. I might not be able to justify the reason and the implementation process of the adoption of Bitcoin by El Salvador or Central African Republic. Politicians cannot be trusted because most of their economic decisions always have political undertone. Also the implementation process of this adoption might be faulty, but the truth is that these Presidents have made Bitcoin a national legal tender. While other countries are busy banning or restricting Bitcoin transactions, these men gave Bitcoin the status of a national currency. They damned that threats and the doomsday predictions of the powerful IMF, World Bank, BEAC and bravely did the perceived undoable. El Salvador and CAR are the first, of potentially many, examples of how a population will choose to implement bitcoin into their daily lives as a national currency.

Individual Bitcoin Hodlders: Hodling Bitcoin presently takes a lot of patience, bravery and determination. It might be very easy for experienced Bitcoiner to hold but newbies can develop health issues holding Bitcoin because of the fear of losing funds.  But Hodlers are the reason why the market has not been flooded with Bitcoin. The fall in price notwithstanding, they are holding because they believe strongly that Bitcoin would certainly recover. Bitcoin has lost almost 55.44% of its value and there are still predictions that it would lose more yet some brave holders are still buying more Bitcoin at the time others are selling.

Hodling Bitcoin Miners: Bitcoin miners are taking their foot off the pedal and scaling down production as cryptocurrency prices hit fresh lows and the skyrocketing price of energy continues to eat into profits. Some miners might be quitting the Bitcoin minting business because of the enormous energy costs for the comparatively small reward. Crypto market analyst have warned that If the current situation continues, miners will likely sell their Bitcoins when the price rebounds, which will slow down the pace of price recovery and could put Bitcoin in a range-bound move for a while. According to F2Pool’s June 2022 BTC mining results,majority of Bitcoin mining companies like Core Scientific have opted to sell their self-mined Bitcoin recently. Bitfarms, a major Canadian BTC mining firm, sold 3,000 Bitcoin, or almost 50% of its entire BTC stake for $62 million. The proceeds from the sales are mostly used to fund operating expenses and to grow capital, as well as to reduce obligations under equipment and facility loan agreements.

But some brave and committed publicly traded industrial miners have insisted that they would stick with their long-standing HODL strategy. Regardless of the risk, firms like Marathon , Hut 8 and Hive Blockchain Technologies are hodling. They have decided not to flood the market to enable Bitcoin recover.
 
Believing Exchange and Trading platform:  Over the past month, prominent crypto companies have laid off thousands of employees as they prepare for a long crypto winter. But when other exchange and trading platforms such as Coinbase,  Gemini, Crypto.com are slashing its workforce and cutting down other expenses that would promote Bitcoin, Binance is planning to expand its workforce.  It is important to state that massive retrenchment of workers would let to investors lack of confidence and trust in the sector. Firms lose valuable knowledge when employees leave, and remaining staff often have difficulty managing new workloads. Motivation and engagement are oftentimes also affected as trust in management dwindles. It’s important to keep in mind that there are not only direct costs such as severance and accrued benefits, but there are also indirect costs such as reputational damage.
 
Despite layoff announcements across the industry, many believing Bitcoin companies are still hiring. Ryan Selkis, CEO of crypto research company  Messari , announced on Twitter that the company will be hiring more than 20 new employees. Singapore-based crypto exchange Bitget has plans to double its workforce to reach 1,000 people by the end of the year, and Ukrainian based decentralized staking provider Everstake recruited 30 new employees since the beginning of the war with no plans to lay off any staff. Binance currently has more than 2,000 roles open from engineers, product, marketing to business development.
 
Believing Lending Companies: Despite the bearish trend of Bitcoin there are some crypto platforms that are taking necessary steps to build back client’s confidence on the sector. FTX is leading the drive to ensure that Crypto lending platform bolster their balance sheet and platform strength. FTX recently gave BlockFi a $250 million revolving credit facility which would help the crypto lending firm to deepen its financial relationship with its clients and attain stronger balance sheets. The proceeds will be used to fulfill client balances across all accounts. Last month, crypto broker Voyager Digital (VOYG) secured a revolving line of credit with Bankman-Fried-founded quant trading shop Alameda Research. The loan of $200 million cash/USDC-backed credit facility and 15,000 BTC is to safeguard its customers’ assets from current bear market conditions. Some other crypto firms have been forced to liquidate a large client that “failed to meet its obligations on an overcollateralized loan. While others are cutting workforce just to ensure that they cut expenses and stabilize the company’s financial conditions.

Believing Companies: While Telsa has sold 75% of its Bitcoin holdings this quarter, MicroStrategy Inc. bought 480 coins worth roughly $10 million at the height of the crypto market’s collapse.  As of June 28, the company has approximately 129,699 bitcoins purchased at approximately $3.98 billion, or $30,664 per coin MicroStrategy . The company is converted nearly all of its cash reserves into Bitcoin. Michael Saylor the CEO of MicroStrategy is prepared to go down with the ship of Bitcoin even if prices collapse to zero.

Bitcointalk Community: The drop in price of Bitcoin has not stopped the constant flow of knowledge in this forum. Members have not stopped researching, teaching and learning about Bitcoin. This forum has helped newbie in the Bitcoin space to use, invest and hodl this priceless currency. Without this forum many members would have been inexperienced which might lead to making some costly investment errors. The clear difference between Bitcoin and other shitcoins have constantly been unveiled in this forum, saving investors from losing their funds to most of ponzi like shitcoin investments. Anyone interested in Bitcoin would become an outstanding Bitcoiner if he taps into the uncommon study materials in Bitcointalk.

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[davis196]

The opportunists will come and go, while the diehard fans will stay. We as diehard fans will survive the crypto winter and we will wait for the next bullish season, when many opportunists with join the crypto world again and pump the crypto prices.
Companies like Tesla are the opportunists, while companies like Microstrategy and Binance are the diehard supporters.
The problem is that the number of supporters isn't increasing as fast as we want and many institutional investors would restrain from buying Bitcoins. In times of crisis, the investors are running away from the high risk assets and searching for a safe heaven.
Anyway,I don't get the point of wasting money to buy an advertisement about buying Bitcoins. Many Bitcoin supporters are simply insane.

[Oluwa-btc]

Great Information OP....... Right inner my college, during examinations the Bitcoin logo was advertised tagged " BTC says no to Examination Malpractice " I'm too lazy to go taking pictures of it , but I'll give it a trial I have also seen alongside the road stating "BTC is freedom for ever ".
As per The Salvadorian President, he has been a great influence for the utilization of Bitcoin BTC within the Nation. Still amazed that some firm's and the average investor's do not use Bitcoin for them business as said by  Aljazeraa. Should Bitcoin really be boring before it gets the full awareness it deserves ? Still patiently waiting to see he's prediction come to reality ( Bitcoin reaching 100k this Year ).

https://twitter.com/obi/status/1483136159601635335?t=F0yuF4TyJCCuMTOHhtF9hw&s=19.    The aspect of using Bitcoin, out fiat don't really like posses all of those skills. The community have also been helpful in grooming once writing skills as you've said addition of vast information and that's priceless.

[Welsh]

What's interesting is I don't seem to see a website or company name on the billboard? They've just given this message, and that's it? That's kind of interesting, I thought they'd at least chuck their company name on it. I know there's a bit of text underneath that I can't quite make out, not sure if that's the local language, but even if they did put their company name there, you'd expect their branding to be just as big as the actual message, right?

I relate to the message though, I've had numerous conversations with several people who have been talking about buying Bitcoin for the last six/seven years, and they still haven't to this day, but bring it up at least once a year.

[Lucius]

Smart people know that the time to invest is when the market is in the red, although many are still quite cautious due to speculation that Bitcoin may not have bottomed out. The current situation is a possible indication that something positive may be happening, although it remains to be seen whether it is a recovery or a bull trap.

As for the billboard, it is still a very popular way of advertising, especially in areas where people still do not have access to the Internet to the extent that it is the case in developed countries. Although the idea itself is understandable from the perspective of the advertiser, I hope that they understand how important it is to educate people who buy Bitcoin, if possible before they buy it. If you are not educated and do not understand what you have bought, such an investment can easily turn into a very expensive loss.


And as for the rest, I would like to comment on the lending companies, which have proven to be a serious problem, and I see no reason for them to exist at all, and if they have already begun to fail, they should have been allowed to fail until the end. It's just an encouragement for some new companies that will start doing the same business, and in the long term everything will collapse because it's a bad way and a big risk for all those who think they should treat their Bitcoin like fiat.

[coolcoinz]

What's interesting is I don't seem to see a website or company name on the billboard? They've just given this message, and that's it? That's kind of interesting, I thought they'd at least chuck their company name on it. I know there's a bit of text underneath that I can't quite make out, not sure if that's the local language, but even if they did put their company name there, you'd expect their branding to be just as big as the actual message, right?

I relate to the message though, I've had numerous conversations with several people who have been talking about buying Bitcoin for the last six/seven years, and they still haven't to this day, but bring it up at least once a year.

Yup, no self interest from their side, pure altruistic approach. Great to see ads like that.
We all know people who never buy. It's like they want to relate to you somehow, knowing you're into crypto, so they say things like "I'm planning to bbuy just waiting for the right moment for it to hit real lows like 10k again". It's like when you come visit your friends on a motorcycle and they're like "nice bike, I've always wanted that, maybe next year I'll finally buy one" and they never do.

[Doan9269]

Believing Exchange and Trading platform:  Over the past month, prominent crypto companies have laid off thousands of employees as they prepare for a long crypto winter. But when other exchange and trading platforms such as Coinbase,  Gemini, Crypto.com are slashing its workforce and cutting down other expenses that would promote Bitcoin, Binance is planning to expand its workforce.

We need to understand that no matter how influential this exchanges or trading platforms could be all they do is for their own glorification and not to the adoption or continuity of bitcoin, the promotion made is just to increase their patronage, get attracted from each ends because they know that bitcoin is only the brand name and digital currency they can use to increase their business proficiency, they can spend alot in achieving this through adverts and the likes because what they will realise will be weightier than what they have spent.

[fiulpro]

The fact that bitcoins despite having 1000 other Altcoins as well are actually are on the top and being advertised does mean that the people and the exchanges understand the fact that this shitcoins need not to be advertised. Other than that when we talk about exchanges it's not just the new ones entering the market everyday but it's also a matter of right advertising, understanding the risks as well. I do think that it is good that they are advertising but at the same time we need to talk about right advertising and catching the right audience, not everyone would be willing to buy Bitcoins, but right now people just have this notion of ' Buying Bitcoins ' not just going to a particular exchange so it's actually a good idea 💡

[kryptqnick]

While I agree that putting up an expensive Bitcoin add during the bear season deserved commendation, it should be noted that the exchange needs customers, so it's doing it out of its own interests as well. As for El Salvador and CAR, the former has been continuously committed to promoting Bitcoin, but the latter probably have just done it as a PR stunt, as the country has an incredibly low (4% of the population) Internet penetration rate, which means there's only a handful of people who would realistically even be able to consider using Bitcoin.

[swogerino]

While I am in favor of such ads you people have to be careful where you keep your Bitcoins.If you keep them in exchanges just look at the recent events that a lot of them failed for bankruptcy and at some of them one of the lawyers got ahead and even put a really bold statement which said "I didn't tell you to put your Bitcoins in exchange X" after these coins being lost there for the time being.Just remember that decentralization is the key core concept of Bitcoin and that second is Be your own Bank which means keep your coins in your wallets and remember the saying "Not your keys,not your coins".

[buwaytress]

Well, a well-run exchange should theoretically always make money, bear or bull, since it relies on revenue from commissions. Traders go either direction, the exchange benefits. So it's not really like they stand to lose, though arguably fewer people are interested in a bear market.

It's not unusual though to see other types of service/product companies advertise or develop, even fundraise, since the interest in a bear market tends to shear away the speculator types.

Seen a few HODL type apps now on Brave ads too.

[boris singer]

This is something that is quite smart, the message conveyed in the advertisement is quite short and clear that if you are sure you should do it like that, there is no need to speculate a lot, there is no need to look at things that are not clear about FUD or people's opinions. Just buy and finish just waiting until the time comes.
Sometimes indeed many people prefer to speculate without carrying out actions and calls like this I think I can slap them

[tabas]

What's that company? but I think people will recognize if it's the brand or company through its color on your country. To me, these are pretty normal way of advertising. Whether we're in the bull run or bear market, they would always have a need for them for exposure. But two things there, they are advertising for their company and at the same time, giving exposure for bitcoin. Bitcoin folks near in that place will really appreciate what that company is doing because they're helping in spreading about bitcoin.

[hatshepsut93]

Companies like exchanges and payment processors are making money regardless of Bitcoin's price, because they are taking fees from transactions. They are benefitting from high volumes of transactions, and high volume can happen in bear market too.

Also, transaction volume (not on-chain transactions) today, in a bear market, is way higher than in bull markets of the past, so it's quite profitable to run a Bitcoin business that does not depend on price.

[Viscore]

What's interesting is I don't seem to see a website or company name on the billboard? They've just given this message, and that's it? That's kind of interesting, I thought they'd at least chuck their company name on it. I know there's a bit of text underneath that I can't quite make out, not sure if that's the local language, but even if they did put their company name there, you'd expect their branding to be just as big as the actual message, right?

I relate to the message though, I've had numerous conversations with several people who have been talking about buying Bitcoin for the last six/seven years, and they still haven't to this day, but bring it up at least once a year.

That’s what we call faith. Even if their brand or company name is not on the billboard, but the fact that the whole message is there, people will already understand and some will take the risk to get convinced. For me, those champions are mostly the people who take the risk investing in it while mostly believed that bitcoin is soon to collapse, and staying in the market without panicking even if they come to witness bitcoin continue to dump.

[GreatArkansas]

https://i.ibb.co/VMMgRdy/yoyo.jpg
The Message is "Leave Talk, Buy Bitcoin". Which means " Stop Talking, Just Buy Bitcoin"

I'm glad to this advertisement, because there are some exchanges or platforms are advertising some shitcoins just to promote their platform, some of them are just using the current trend of what is popular to advertise and for me it is very risky for new people.
I love this advertisement, simple and using Bitcoin.

[oaz7t]

In all in all I know one thing crypto space is never going to die whatever may be the situation. I mean look at the figures that we talk when we mention a coin, it's always in millions of dollars.

Where does the money get traded at that level? In the field where most of the people are intrested in<3

[ChiBitCTy]

This is really well written up and it’s always nice to see posts where someone takes the time to really put in some solid info and thought. The billboard is pretty interesting, I’m curious how many other billboards like this are out there. I think this is the second one over heard of before.

[adzino]

The billboard seems to be a perfect investment for the trading platform. Billboards are visible to everyone. When someone who has never used bitcoin but has heard of bitcoin and then sees the billboard, the chances of that person to use that platform to buy bitcoin is very very high. It is going to be more users for them since the price of bitcoin is now low and is the best time for users to inter the market.

And about the "other champions" that you are talking about. They already were prepared for the crypto winter.

[Mpamaegbu]

"Leave Talk" is a Nigerian signature slang. One would've expected that the area/country of that scenario as used in the post be mentioned also. Did I miss it 🤔

This forum has helped newbie in the Bitcoin space to use, invest and hodl this priceless currency. Without this forum many members would have been inexperienced which might lead to making some costly investment errors.

This is true as it enables noobs learn from veterans and be reassured that whatever downside they see now in Bitcoin is only momentarily. Bitcoin is affording new fans an opportunity of a discount with this dip and people should utilize it. Leave talk, don't listen to naysayers. Just buy!