Two types of predictors in bitcoin market.

[Stedsm]

First of all, banks will not adopt Bitcoin as a reserve currency, at least not for some decades because they need stability and Bitcoin doesn't have it. Next, listening to any big name in crypto (be it Musk or Saylor) is literally stupid because they change their statements with time. Let Michael Saylor see BTC near $10k (if BTC ever reaches there during this bear run) and then we'll see his new colors about the giant crypto.

[Kelvinid]

Unfortunately, we can't make all people believe what others have seen about Bitcoin, haters will exist.
In fact, even the government has never seen it as useful to the community. Banks are against Bitcoin, many individuals also think the same. Even people who are here in crypto are still in doubt about Bitcoin which is why they usually become depressed when seeing the price drop and then say it was the end of crypto.

I could say that the bear season has its purpose. Those who have faith and trust in Bitcoin will hold but those who are not will simply sell their Bitcoin as a response to the market decline.

[nullama]

First of all, banks will not adopt Bitcoin as a reserve currency, at least not for some decades because they need stability and Bitcoin doesn't have it. Next, listening to any big name in crypto (be it Musk or Saylor) is literally stupid because they change their statements with time. Let Michael Saylor see BTC near $10k (if BTC ever reaches there during this bear run) and then we'll see his new colors about the giant crypto.

From January 2025 central banks will be allowed to have up to 2% of their reserves in Bitcoin: https://coinculture.com/au/policy-regulation/bis-now-allows-banks-to-keep-2-of-their-reserves-in-crypto/

The banks actually asked for 5%, but the BIS who had first said 1% moved it to 2% to reach a compromise.

The BIS had previously considered a policy of 1% for global banks. In turn, the banks requested a 5% reserve limit. This 2% appears to be a compromise between the two. According to data from 2020, if applied to all banks in the world, who collectively custody approximately $180 trillion, this would amount to a limit of $3.6 trillion in bitcoin held by such entities.

Things are changing quickly, and Bitcoin adoption is happening right in front of our eyes.

[Darker45]

I guess somebody only has to take a second look at Bitcoin to know that it is way more than what it appeared at first. Not a few rejected Bitcoin when they first encountered it. First impression doesn't last with Bitcoin. If not rejected, they didn't give too much weight to it. They took it with a grain of salt. It's only when they took a more serious look at it the second time around that they realized how fantastic such technology actually was. Or, in the case of many others, they only needed to take a look at Bitcoin beyond its price. That's the turning point. And when they're already into the rabbit hole, it's almost impossible to get out.

[wxa7115]

As I pointed out in my intro, most people must have changed their minds against bitcoin after reading this tweet. How will they feel to see that Michael Saylor is now for bitcoin? They'll feel disappointed and regret listening to him at first.

Michael Saylor isn't the only one to doubt BTC from the start and later love the network, many "true bitcoiners" didn't trust BTC at the start, but i think it is normal with every new technology, people fail to trust it at inception but as time goes on they get to understand a lot about it, then they get involved.

People should not change their minds about anything because of what someone else tweeted, they should research and find out information by themselves. Even if there are people who listened to him then, there is still room to accommodate them all right now .

I agree, if there are people out there which have taken the time to really look at bitcoin and they do not like what they see then I have no problem with it.

The issue is there are many people out there which simply read a negative tweet or some false news and they let such a thing to dictate their opinion about a topic which they know nothing, and then they keep that stance despite the new evidence that may contradict their current views, so it is key to inform ourselves about a topic in which we are interested and then decide by ourselves what our posture will be.

[hugeblack]

I am convinced that many have become emotionally defending bitcoin as if it is closer to a religious sect than a digital currency that has advantages and disadvantages and may die in the future, but it is now the best that centralized technology can offer and may have a very high value in the coming years.
In general, regardless of personal opinions, what happens in the coming years is what will determine the future of this currency, and the statements of individuals differ accordingly.

[hd49728]

I am convinced that many have become emotionally defending bitcoin as if it is closer to a religious sect than a digital currency that has advantages and disadvantages and may die in the future, but it is now the best that centralized technology can offer and may have a very high value in the coming years.

It is natural to protect what we love and Bitcoinists just protect what they love and believe in that is Bitcoin.

If Nokia, yahoo can collapse, Bitcoin can collapse too. But before anything that is too big occurs, Bitcoin is strong. The magic power of Bitcoin is its decentralization which can not be found in other cryptocurrencies.

Because we have yet had other decentralized cryptocurrencies like Bitcoin, Bitcoin is still a strongest and most attractive cryptocurrency. In future, I don't see how the world can have another decentralized crypto like Bitcoin.

In general, regardless of personal opinions, what happens in the coming years is what will determine the future of this currency, and the statements of individuals differ accordingly.

I beg to differ that Bitcoin won't be beaten by other cryptocurrencies. Like Gold that is not a most precious metal on Earth but it is a most favorite one. Diamond can not compare to gold in popularity.

[serveria.com]

They're those whose responses about bitcoin are always positive and others who were skeptical about bitcoin that are now full-time bitcoiners.

It's clear that such people and responses still exist in recent times, and many users of bitcoin fall prey to the negative predictors. This thread is about two significant people in cryptocurrency; Hal Finney and Michael Saylor who predicted the future of bitcoin, one was positive, the other negative. The false prediction failed and the predictor, Michael Saylor, is now big and deep into bitcoin to an extent of dropping his position as the CEO of Micro strategy to invest completely into bitcoin.

Sometimes, those who have negative thoughts about bitcoin end up becoming full-time bitcoiners in the future and that's a good reason bitcoin users should stay strong in this journey. In the year 2010 Hal Finney's predictions about bitcoin



This is a bullish prediction and if the banks should adopt bitcoin that means they'll be a spike in bitcoin price. Though it looks uncertain, if Michael Saylor after making such a tweet about bitcoin is, today, a big investor of bitcoin then the banks despite the rivalry could change their minds about bitcoin.






As I pointed out in my intro, most people must have changed their minds against bitcoin after reading this tweet. How will they feel to see that Michael Saylor is now for bitcoin? They'll feel disappointed and regret listening to him at first. In summary, stay strong with this journey as those whose perspectives are against bitcoin will definitely, one day, adopt the currency, even the banks.



Photo Credit; https://twitter.com/pete_rizzo_

One has to have balls to admit he/she was wrong and didn't see the potential straight away. As an investor, MS had to see that potential of Bitcoin and it would have happened sooner or later. MS was pretty early btw, there are some BTC haters who still haven't realized they're wrong and still think BTC is destined to fail and is going to zero every bear market. 

[Zilon]

One thing about Bitcoin is that Fudders end up becoming shillers. Saylor made the tweet in the days of his ignorance, When I presume he knew nothing about how Bitcoin works and what it is meant to solve. Sometime around 2013 upwards, Bitcoin was still at it early stage of introduction, so it was seen by the present big market players as a possible gamble deal. Saylor today is among the top Bitcoin holders, the reason why no one is to be trusted with investment advices except for every one to do their own research because Fudders are never static in their critics they will become Shillers when the knowledge of what the Fud has prospects.

[Accardo]

One thing about Bitcoin is that Fudders end up becoming shillers. Saylor made the tweet in the days of his ignorance, When I presume he knew nothing about how Bitcoin works and what it is meant to solve. Sometime around 2013 upwards, Bitcoin was still at it early stage of introduction, so it was seen by the present big market players as a possible gamble deal. Saylor today is among the top Bitcoin holders, the reason why no one is to be trusted with investment advices except for every one to do their own research because Fudders are never static in their critics they will become Shillers when the knowledge of what the Fud has prospects.

Yes, Of course, That wasn't his fault regarding the fluctuation of bitcoin price without a big ATH as of then. Given time bitcoin got to a better price, which changed his mind despite the fact he hasn't earned much profits from bitcoin he still trusts bitcoin. With such ATH Saylor strongly believe that bitcoin will perform more than that price soon, I think its the reason he fully jumped into bitcoin. Regardless of the bearish market.