Poll: In your opinion is this the end for Bitcoin/Cryptocurrency?

[Ultegra134]

Scams? What exactly are you talking about? If you're referring to altcoins, it's expected because anyone can launch their own token. The economy is going through a period of recession on a global scale. You can't expect cryptocurrencies or Bitcoin to be performing at their best. If we're patient enough, we're not going to regret it. Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

Let's not forget how many pyramid schemes are out there, scamming millions of dollars with little to no action taken against them. Yet, there are people focusing on some random token that rug-pulled and scammed its users.

[Welsh]

Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

To be fair, as you correctly pointed out we're in a recession, and probably the biggest one of most of lives. Therefore, charts can't be relied on even more than normal. So, while Bitcoin historically has shown it always recovers, and lot of users have time periods that they can reference, and compare. It could be vastly different this time due to the recession.

Buying power obviously dips during a recession since people are struggling to live, let alone put their money into a developing currency which is extremely volatile when you compare it with traditional currencies.

So, in the same light; Bitcoin isn't the only thing that's going to see an extended decline, but also stocks, and other investments.

[passwordnow]

It's always like every year that whenever the market isn't good enough, there would be questions like this. But for me, right now this is a valid one because we're facing recession and inflation and it isn't bitcoin and the crypto market that facing such. Too big of a factor to think if the market will really survive. Well, it will recover no matter what it faces, and I just lean toward the fact that anything that goes down will bounce back and go up again. IMO bitcoin is still the best asset for my taste, a safe haven, and people shall see that it's still the best way to hedge against inflation.

[lalabotax]

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

How long have you neem in the crypto industry?
After several times of the bearish era, with many extreme drops, with so many FUD so far, do you ever find that Bitcoin or cryptocurrency ended and over?
No, even though there are so many FUD that is always spreading during the time, in fact, they cannot make Bitcoin dead. This bearish era with so many drops in all aspects doesn't mean that this is the need of the era. This is only [art of how Bitcoin and crypto, in general, is having. So, no need to worry much about the current situatio.
But if you are talking about so many scam projects and shit coins, they may not also end. exceptt for shit coins that have no value, they may end.

[BITCOIN4X]

~Snip

The 41 answers in the poll have given him the right answer even if the OP is still can doubt it. I don't want to argue and tell a lot because actually we all know that the price cycle will go up and down regardless of extreme or not. Just leave him with his understanding if you don't want to get a proper explanation.

Anyway the OP is inactive since this thread was created. I believe now the thread deserves to be locked.

[Ultegra134]

Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.

To be fair, as you correctly pointed out we're in a recession, and probably the biggest one of most of lives. Therefore, charts can't be relied on even more than normal. So, while Bitcoin historically has shown it always recovers, and lot of users have time periods that they can reference, and compare. It could be vastly different this time due to the recession.

Buying power obviously dips during a recession since people are struggling to live, let alone put their money into a developing currency which is extremely volatile when you compare it with traditional currencies.

So, in the same light; Bitcoin isn't the only thing that's going to see an extended decline, but also stocks, and other investments.

It certainly looks like it's going to be way worse than the recession we experienced through 2008-2010. That doesn't look appealing. Certainly, you can't rely on historical data and hope it's repeated. The macroeconomic environment is rapidly shifting, and the situation now is a lot different than the one two or more years ago (Covid-19, War in Ukraine, etc.). Our purchasing power has severely decreased due to the increased living costs. Groceries, fuel, and electricity have all skyrocketed. It's perfectly normal that investments come second.

All investments have been affected. A decent example is the S&P 500 index. It's been showing steady growth since 1975 (that's the earliest I could find in charts) but is now experiencing major losses, similar to Bitcoin.

[Mate2237]

So we have seen Cryptocurrency hit with many huge scams, come under increased scrutiny and regulation, as well as being the subject of environmental concerns.

As of late, Bitcoin is trading at the lowest levels I've seen it trade in quite some time.

So I made this poll to gage the latest opinions of the users here.

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

where is the poll you are taking about. Definitely, people use currency to scam others in the society, therefore cryptocurrency is not an exception.

environmental concerns

, you mean bitcoin here. well bitcoin has become the talk of the internet in these recent days. Please dont combine bitcoin with other altcoins. Other altcoins might end up like LUNA but bitcoin is not like them.

[Techkoy407]

I think bitcoin will be fine, because it has become commonplace in crypto (bitcoin) there is a decrease there is an increase so there is no need to worry about that, in fact this is a hallmark that the market is normal, you just wait for bitcoin to rise again and don't have to think about the end of bitcoin, it's better to learn and look for more useful information so that in the future it will be better.

[GreatArkansas]

(....)
The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

As time goes by, there are a lot of cryptocurrencies are popping up. For me, Bitcoin is already proven by the time, the first cryptocurrency ever made, and always on the number 1 top market cap. For me, Bitcoin will stay but other altcoins could be here temporary? We'll never know, because most of cryptocurrency that popping now are just here to take money from people.

[Don Pedro Dinero]

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

I am not surprised that the poll result is 0 votes for Yes and Unsure, with a 100% No vote.

To think otherwise is to have no idea. Instead of thinking about the end of bitcoin right now, the smart thing to do is to think that it is cheap and take advantage of it to buy. In the next cycle, or 10 years from now, many people will look back and think that they wish they had bought at 20,000 USD. They are the same people who think bitcoin is going to end now.

If you look at the history of bitcoin that happened repeatedly when bitcoin was much cheaper.

[Jatiluhung]

I simply can't see why the current state of affairs could be the end for bitcoin. because if the reason is a declining trade and a falling price. then it can not be used as an excuse or even as a material consideration. because the decline is happening in all sectors. The purchasing power of the people is now decreasing in all fields. because of the economic crisis that hit, prolonged inflation and a looming recession. be the reason behind the decline in all sectors. but instead I appreciate bitcoin and cryptocurrencies where projects are still popping up, the community is still growing and that's a great thing.
So I chose to answer NO.

ehh wait, during this economic crisis there are those who continue to show an increase when depicted in a graph. namely the price of food and the price of fuel oil. when the economy becomes bearish both of these things are even bullish. very lucky those who hold both of these things.

[pooya87]

As time goes by, there are a lot of cryptocurrencies are popping up. For me, Bitcoin is already proven by the time, the first cryptocurrency ever made, and always on the number 1 top market cap. For me, Bitcoin will stay but other altcoins could be here temporary? We'll never know, because most of cryptocurrency that popping now are just here to take money from people.

That's the sad part though because it proves that innovation is dead. Every new coin we see coming out is just being created to make more money. Specially after introduction of token platforms that make scamming people easy. Without innovation, we are going to see bitcoin continue dominating the cryptocurrency world while thousands of shitcoins get short term pump an dumps.

[bittraffic]

Bitcoin/Cryptocurrency is here to stay. You see China had already banned the mining of BTC but so far they have not actually wiped them all out from China. Hash remains to have come from China still.

The issue was that mining affects the climate of course this has been proven to be just propaganda for Climate change advocates. Whoever gives rights to this mining council to dictate rules. Bitcoin will still exist and so is mining if they use renewable energy, I guess some are going to keep following the rules and lesser fees to energy bills. Bitcoin will still be here.

[Mauser]

What a nice survey, 47 votes for "no", 0 for "yes" and 0 for "unsure". The forum might be a bit biased, but why would anybody really say that crypto currencies are dead? The bitcoin price right now is at 19,858 USD. If cryptos were anywhere close to dying or already dead than the price should be below 1 USD. And this is not going to happen anytime soon. The world is still full of people who are believing in cryptos and would happily start buying bitcoins if the drop anywhere close to 1,000 USD. I am sure that we are not going to see the end of crypto currencies in general or bitcoin in particular during our lifetime. Even if 99% of the world population is not interested in cryptos anymore, as long as there is 1% who uses cryptos it won't be dead.

[Henrobakkara]

So we have seen Cryptocurrency hit with many huge scams, come under increased scrutiny and regulation, as well as being the subject of environmental concerns.

As of late, Bitcoin is trading at the lowest levels I've seen it trade in quite some time.

So I made this poll to gage the latest opinions of the users here.

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

If you don't believe in Cryptocurrency or Bitcoin in general you might be thinking along the line that Bitcoin probably is coming to an end because it has -74.29% from its ATH to the lowest of about $17k, meanwhile, that was just about the same level of drop the market experienced from the dip of June 2019 to march 2020 of approx -72.66% and the last major bear market of 2017 to 2018 was approx -83.82%
All other concerns have always been around Bitcoin from scams, scrutinization, and regulations even the environmental issues, and those have never stopped Bitcoin on its track and still wouldn't.

[Hamza2424]

So we have seen Cryptocurrency hit with many huge scams, come under increased scrutiny and regulation, as well as being the subject of environmental concerns.

As of late, Bitcoin is trading at the lowest levels I've seen it trade in quite some time.

So I made this poll to gage the latest opinions of the users here.

The question is, due to any of these issues, or a combination of them, are we finally going to see the end of Bitcoin and
Cryptocurrency or is it still a safe haven?

Exactly i question as im expecting from a new comer as im not a much experienced member but i know how things work outside in the world so in my whole experience i have never asked such question about BTC after learning about it so i would like to recommend you study BTC first then there will be no need to questioning the potential and future of BTC im not sure about other alts but BTC is a real asset going to be the store of value in coming years.

[xzy887]

Stop thinking about Bitcoin end. Those who say bitcoin will die out are nothing but idiots. Don't they see that bitcoin is getting legalized in all countries and people doing bitcoin transactions are increasing day by day. Maybe this year Bitcoin market condition is very bad but those who know well about crypto currency will never be disappointed. Because every time Bitcoin goes down, it gets up and gets stronger.

[Ultegra134]

What a nice survey, 47 votes for "no", 0 for "yes" and 0 for "unsure". The forum might be a bit biased, but why would anybody really say that crypto currencies are dead? The bitcoin price right now is at 19,858 USD. If cryptos were anywhere close to dying or already dead than the price should be below 1 USD. And this is not going to happen anytime soon. The world is still full of people who are believing in cryptos and would happily start buying bitcoins if the drop anywhere close to 1,000 USD. I am sure that we are not going to see the end of crypto currencies in general or bitcoin in particular during our lifetime. Even if 99% of the world population is not interested in cryptos anymore, as long as there is 1% who uses cryptos it won't be dead.

You're in a forum named after Bitcoin. Would you expect people to be against it? Certainly, OP's statement is quite bold to agree with. I would be surprised if someone here believed that cryptocurrencies are about to die. Personally, I'd agree if you told me that Bitcoin and cryptocurrencies would go through a tough time for the next 1-2 or even 3 years, but would they die completely? Not a chance. Cryptocurrencies have evolved in the past few years, with a few countries now legalizing them as a means of payment. Even huge corporations such as Revolut or PayPal have integrated them into their services. PayPal, one of the largest payment processors, provides you with the ability to trade cryptocurrencies. It's a huge step towards digitalization and cryptocurrency adoption.

[gabbie2010]

What a nice survey, 47 votes for "no", 0 for "yes" and 0 for "unsure". The forum might be a bit biased, but why would anybody really say that crypto currencies are dead? The bitcoin price right now is at 19,858 USD. If cryptos were anywhere close to dying or already dead than the price should be below 1 USD. And this is not going to happen anytime soon. The world is still full of people who are believing in cryptos and would happily start buying bitcoins if the drop anywhere close to 1,000 USD. I am sure that we are not going to see the end of crypto currencies in general or bitcoin in particular during our lifetime. Even if 99% of the world population is not interested in cryptos anymore, as long as there is 1% who uses cryptos it won't be dead.

I am 52nd that voted No bitcoin had experienced worst scenario of price dump but later recovered, notable among the price drop was in the wake of Covid-19 pandemic when it price dropped to $3900 that does not signified the end of bitcoin against all odds the price recovered and an attained a new ATH, though the market might had been bearish for quite some time now, even with the present price of $19906 it's quite a reasonable price as long as it doesn't fall to $1 bitcoin is very much alive, Moreso the coin is being traded on daily basis with the highest volume traded in all the exchanges because of it high volatility this is enough to keep the coin in the market.

[darkangel11]

Stop thinking about Bitcoin end. Those who say bitcoin will die out are nothing but idiots. Don't they see that bitcoin is getting legalized in all countries and people doing bitcoin transactions are increasing day by day. Maybe this year Bitcoin market condition is very bad but those who know well about crypto currency will never be disappointed. Because every time Bitcoin goes down, it gets up and gets stronger.

You're right. I've read that recently China is warming up to Bitcoin. It used to impose new bans since 2014 with first a ban for banks, then an exchange ban, then finally a mining ban, but now it's going to allow it to be exchanged and traded. If the news are true it's great for BTC.

Bitcoin lost some of it's price because of the USD pump, but so did gold and other stocks and assets priced in USD. It's really nothing unexpected.