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Author Topic: Why is Bitcoin gaining this much fame despite it's restrictions?  (Read 327 times)
Dave1
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January 24, 2023, 06:24:39 PM
 #21

Though I'm new in the cryptocurrency space,I have been hearing so much about crypto ( Bitcoin precisely) lately even before I got registered on the forum and I had to ask this very question because in three days I've heard and seen people talk and discuss about Bitcoin and cryptocurrency in general and it prompted my question wanting to know why it has been talked about this much and gaining more acceptance in my local community despite it's restrictions in my country and is it also gaining this much fame in your environment?

Although not the first cryptocurrency as there are others in the past, but they all failed. But with Satoshi's invention, it really disrupt everything, giving majority of us financial freedom and obviously the price did go up in the last couple of years.

And then we have this kind of activity we call block halving, which we haven't seen before. So the concept and everything is like a first so everyone is jumping on board. Others think it's controversial, calling it scam, and everything negative. But that is the beauty of it, the publicity of it makes it very (in)famous and now everyone wanted to give a piece of it.

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January 24, 2023, 06:24:54 PM
 #22

I would not say it’s getting fame, at least not in the positive manner. I mean look around us, bitcoin is getting connected with negative articles all the time. Whether it is hack of some exchanger or whether it is some scumbag claiming himself Satoshi, all goes to the south every time. That’s how bitcoin is getting known around the world. People are more concern about the privacy of it being the most pseudonymous asset made in this era. Bitcoin as we know is must have asset but that’s us who are in the crypto since long and know reality of bitcoin. We love it and we will always say good things about it. But as far as it’s being pictured these days, it’s completely nasty game. Decide from this whether bitcoin is getting the fame or blame ?

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January 24, 2023, 06:34:34 PM
 #23

People are always interested in restricted items. You can imagine the same for Bitcoin. Even though there are many restrictions, people like it because of the decentralization and freedom. More investors entering the Bitcoin market means that the price will rise. If investors begin to leave, the price will fall. That is how the Bitcoin movement operates. Bitcoin is also restricted in my country, but we use it and its popularity is growing by the day. It is simply due to true decentralization.

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January 24, 2023, 06:51:10 PM
 #24

its like.. "silver car"
once you say it. you see them everywhere on the road.


Yeah that feelings have occupy my mind for over a year now, my story is around 2021 i bought my first car which os a silver Nissan Al.era Tino 2004 model, silver colour and preown and when at the car dealer shop i never seen that car on the road before .

Infact it look like the first of it kind to me, and as soon as i bought my own.

💣 boom silver colour almera tino cars everywhere on my street and sometime i wonder why i necer noticed them all the while .

Same with cryptocurrency and every other assets, Bitcoin most especially is most spoken of, and lately everyone seems to be interested in Bitcoin.

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January 24, 2023, 07:14:51 PM
 #25

No matter how government of a country ban bitcoin, citizens will definitely find a way to buy and sell their bitcoin, even if they can't use it to buy things in the country. When the Central bank of my country was banning accounts that have been linked with crypto transactions, I was suprised that bitcoin was gaining more popularity in my country during that particular time, no matter how government try to ban bitcoin, people will definitely still look for a way to trade it in the country.

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January 24, 2023, 07:59:04 PM
 #26

Dear as you know the way to heaven and the way to rightness goes from a difficult path. Actually, in poetry, the destination is nothing but the path is everything so applying this concept to Bitcoin. When there is great fall dear from there a great rise starts this is nature. Gold is purified in fire and Bitcoin is purified in the Restrictions in adoption.

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January 24, 2023, 08:19:21 PM
 #27

When there is something new and promising for the future, everyone will compete with their greed to take advantage of that condition, and now it's happening in bitcoin, with conditions that are currently quite good in terms of technology, and lots of people have jumped in here and got results. the good thing is that not a few people follow things like this and maybe even one of them is myself, even though at first I didn't really like bitcoin, but gradually with different views I switched to bitcoin until now.
On the other hand, today's era has progressed and with lots of searches about bitcoin on the internet, it will obviously improve their algorithm so that it becomes increasingly booming and more and more people will be looking for it.

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January 25, 2023, 12:38:15 AM
 #28

I think it's thanks to the news media by all means, contradictions, hyperbole, even "assassinate" attempts, although really they are just taking advantage in the number of views.
From a technical point of view, Bitcoin is still not restricted (censorship). An alternative way for policies to make boundaries appear to work and be effective is to limit users, resources/infrastructure, etc.

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January 25, 2023, 12:48:32 AM
 #29

in my opinion because investing in bitcoin is very easy and can be achieved by all people, even with 15 dollars. can invest in bitcoin, and many people believe that bitcoin in the future will have a high price.

and i have a question for you,
do you invest in bitcoin? what is your reason for investing?

   if you invest, I think other people will also have reasons like you?

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January 25, 2023, 01:39:19 AM
 #30

My guess is that Bitcoin or crypto has become a topic because of its price. When the price rises fast, it suddenly becomes a hot topic. When the price nosedives fast, it also becomes a hot topic. Or when there are big news like the sudden death of Terra or the fall of FTX.

Whatever, at least Bitcoin or crypto has caught the attention of people. I'd like to believe that there's no right or wrong start for as long as it ends up with the familiarization and appreciation of the technology.

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January 25, 2023, 01:39:42 AM
 #31

Because Bitcoin was around long before the restrictions were placed.

And actually, some of the restrictions are not placed by your government or the government of the exchange's country of incorporation, but by the KYC provider itself! As in, they deny your passport taken from your (live) camera for God knows why, and for other countries, they only take passports and ID cards are not listed.

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January 25, 2023, 03:31:52 AM
 #32

Because bitcoin has a limited supply so that many people are interested in investing with bitcoin, basically many investors, of course, they will be more interested in investing in rare goods such as gold and silver as well as bitcoin which has only 21 million in stock, moreover bitcoin is believed to be has a higher value during halvings and so far it has been proven that halving events always make bitcoin movement experience massive pumping and are able to create new ATH after that.
Bitcoin is one of the assets that is very promising to invest because it offers large returns, so it's no wonder that currently bitcoin's popularity is increasing among the public.

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January 25, 2023, 03:34:10 AM
 #33

Am just wondering how it's possible when the country restrict or not allow their citizens to use Bitcoin but people are keep use it and talk about Bitcoin in that's country?

When the government is restrict and ban Bitcoin usage, I believe if someone report you to police, you would face legal law and might go to jail isn't? Even you can prove if you're not use Bitcoin for money laundering, scam, illegal, etc.

Bitcoin gaining a much fame because most of countries doesn't ban Bitcoin and there are few country already accept it as legal tender.

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January 25, 2023, 03:48:20 AM
 #34

Though I'm new in the cryptocurrency space,I have been hearing so much about crypto ( Bitcoin precisely) lately even before I got registered on the forum and I had to ask this very question because in three days I've heard and seen people talk and discuss about Bitcoin and cryptocurrency in general and it prompted my question wanting to know why it has been talked about this much and gaining more acceptance in my local community despite it's restrictions in my country and is it also gaining this much fame in your environment?

Words spreads faster than a wild fire because of the social media. Once people heard about a very profiting investment, they tend to jump quickly into it, and as a result, scammers always takes advantage of these human weaknesses.
So, the popularity Bitcoin has gained is a mixed positive and negative feedback. You can see Bitcoin enthusiast as much as anti-Bitcoin.
So, the more people talks about Bitcoin, regardless if it's a positive or negative feedback, the popularity will gradually grow.

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January 25, 2023, 03:55:32 AM
 #35

Though I'm new in the cryptocurrency space,I have been hearing so much about crypto ( Bitcoin precisely) lately even before I got registered on the forum and I had to ask this very question because in three days I've heard and seen people talk and discuss about Bitcoin and cryptocurrency in general and it prompted my question wanting to know why it has been talked about this much and gaining more acceptance in my local community despite it's restrictions in my country and is it also gaining this much fame in your environment?

It can be said that bitcoin is a multifunctional asset that can be used as a currency, a payment method...But what makes it so famous and tied to its growth is its volatility, thanks to volatility, it can generate bigger returns than other types of investments. But I don't think bitcoin is becoming so popular that, as you say, most people in the world still don't know about bitcoin. The crypto or bitcoin community is still very modest and that is an advantage for us. We are the pioneers of this revolution, so we need to take advantage of this opportunity before it becomes more widespread.

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January 25, 2023, 04:00:11 AM
 #36


Bitcoin gaining a much fame because most of countries doesn't ban Bitcoin and there are few country already accept it as legal tender.
I don't know where OP is from but from the past, I remember whenever China tried to ban bitcoin it backfired by gaining more popularity and value so it all depends on how people see it and what the government is trying to do with it.

In this 2023, almost the community exposed what bitcoin is capable of which forcing the governments to make it legal or regulate it as an asset since they found they literally can't ban bitcoin unless their blackout internet worldwide forever.

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January 25, 2023, 04:36:52 AM
 #37

Bitcoin doesn't really have that much fame in my opinion. We hear about it in the media from time to time but I don't consider it "fame" because it doesn't have corresponding adoption and adoption is the only "fame" bitcoin needs or has. We all know bitcoin adoption is still very small globally.

As for the reason for whatever amount of "fame" bitcoin has, it is pretty obvious if you ask me. Bitcoin offers a very unique set of utilities that people can not find elsewhere. There is no other currency in the world that can give you financial sovereignty and appreciate in value over long term.
Despite the lack of official support or widespread acceptance, bitcoin has created an ecosystem where many people are willing to trade and accept it almost all over the world, and some users find bitcoin more valuable or more useful than other currencies, because bitcoin transactions do not take time. the old way and how to use it is also very easy and fast, even the tax for sending bitcoin transactions is also cheaper compared to bank taxes or other services, bitcoin has also spread far, there are even 14 major world companies already using blockchain technology and several countries actually want to clone bitcoin , because bitcoin is very good.

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January 25, 2023, 04:53:36 AM
 #38

Not only you, but this problem I have met many times before from friends who want to learn about it, firstly I want to tell you to try to learn some basic concepts with bitcoin in WPP , then look back at its history. I see the problem that a lot of people today are losing their knowledge of basic concepts, it's easier to imagine when we talk about a problem of knowledge in a university environment for a newborn child, it will cannot feel. And that's it first, and then if you've gotten to know BTC better, then I think like me or many others here will no longer wonder about this very issue.

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January 25, 2023, 05:10:10 AM
 #39

Though I'm new in the cryptocurrency space,I have been hearing so much about crypto ( Bitcoin precisely) lately even before I got registered on the forum and I had to ask this very question because in three days I've heard and seen people talk and discuss about Bitcoin and cryptocurrency in general and it prompted my question wanting to know why it has been talked about this much and gaining more acceptance in my local community despite it's restrictions in my country and is it also gaining this much fame in your environment?
This is easy, after a long bear market bitcoin has presented a good recovery during the previous days, and while we are still not entirely sure if the bear market is finally over, at least this gives holders and traders alike a chance to grab some profits.

And even if the profits are small for the standards of this market, bitcoin has grown 40% which is a big amount compared to other markets and if you use leverage the amount is even larger than that, so as you can see there is a strong justification why your are hearing so much about bitcoin at your community.

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January 25, 2023, 05:25:26 AM
 #40

No matter the restrictions, the Bitcoin will keep getting popular as those who love decentralization when it comes to carrying out transactions will always choose bitcoin over every other form of payment. Bitcoin is also seen as a great means of investment which is superior to the trading of stocks. Bitcoin can make you huge profit with short period but can also mar your financial strength when it falls.
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