Why We Are Still So Damn Early With Bitcoin ..

[Broadanbig]

I really have the believe that Bitcoin is still at the earliest stages of inception because not everyone in the world is fully aware of Bitcoin. I can understand the fact that early adopters have had their cake of the market boom at first stance.  It has a long way to go through time to come. This is a generational innovation that has taken shape in the world today.

As you have said, just like gold had existed long before now and would stay till generations to come, so it will be for Bitcoin. As the world begin to clamour for change and alternative means of improvement in all ramifications of the only suitable option would resorts to Bitcoin technology and that would pave way for more adoption process. As time goes on many  side attachment of Bitcoin innovation and creativity would emanate giving it to a good edge to continue booming stronger.

[Ziskinberg]

Well, I can say that not all of us think that Bitcoin is a long-term investment and it has grown year after year. Of course, with the volatility of the market, some people will remain uncertain and never think about the future but rather see only tomorrow and the next few days. In fact, those were my insights before and gradually changed after seeing a huge improvement and continuous price growth of Bitcoin. Most of the time, people change their mindset based on their experience and so like you OP. It was not because of that statement but we believe and trust Bitcoin because we see its performance.

[Renampun]

...

What thing I've leant from this comment is to be long sighted when it comes to Bitcoin , many of us investing in Bitcoin are short sighted about it, Bitcoin has the power to live and become as old as gold is, think of what the value of Bitcoin would by the time it becomes 50 years old , 100 years old, 200 years old and even more with a limited supply of 21 million coins? Many of us are investing in Bitcoin with a mindset like "let's have our own slice of the cake as quick as possible before Bitcoin disappears in a few years to come", what an error 🙃..

Freely chip in your thoughts/contributions .

when you decide to become an investor, your goal in investing is to make a profit, but do you have the intention to feel the benefits of the bitcoins you invest in the next 100 or 200 years? of course not, so whatever investors do with the bitcoin they have, that is their right, from what I have noticed, everyone has different problems in their life, as well as bitcoin investors, maybe someone sells bitcoin because of FUD but there are also those who sell their bitcoins because they really need money for something important or they are indeed a trader, so I think your sentence at the end is not very on target.

[Don Pedro Dinero]

What I find really funny about these topics is that they pop like mushrooms when there is a dump, It's like everyone needs reassurance and start preaching to the choir as it would somehow magically words from people with the same mindset reported ad nauseam will somehow turn out to be true.

I guess it is similar to the threads that appear in bull market that give a higher and higher prediction. I remember at the end of 2021 it was not uncommon to see $300,000 predictions for this cycle on the forum. And outside the forum as well.

Every Bitcoiner knows about the famous 10,000 Bitcoin for two pizzas (~$40) - the exchange in 2010 where Bitcoin was first used as money.

Even though 10,000 Bitcoin now means complete financial freedom, many people see this as a reason to believe that the Bitcoin train to financial freedom has sailed.

I understand the message you want to convey, but I believe that real price increases in the future will be slower. Assuming $20 for a pizza today is 0.00077 bitcoin. By 2036 I doubt that 0.00077 will be as valuable as 10,000 bitcoin is today.

With the generality of the message I agree. Bitcoin is a scarce commodity that will continue to appreciate and amounts that seem modest today may become life changing, but I would add that for this it is better to keep accumulating, not waiting for 0,00077 bitcoin to change your life.

[davis196]

Due to Bitcoin's absolute scarcity and clearly defined inflation plan that can always be determined in terms of time, it cannot be otherwise than that a unit of these 21,000,000 steadily becomes more valuable and thus fragments of these units as well.

Not even 1% of people on the planet are familiar with the fundamental strength of Bitcoin. Over 99% don't know anything yet. The halvings can NOT be priced in if 99% of people don't even understand Bitcoin.

You are coming up with the assumption that the Bitcoin price will rise forever and ever.
What if all major countries in the world(USA, UK, EU, etc...) ban Bitcoin trading and mining? Will the Bitcoin price hit 100K or 1 million? I don't think so.
You are assuming that only 1% of the global population are familiar with Bitcoin. Maybe you are right, but is there a valid reason for the other 99% to care about Bitcoin(other than buying and waiting to sell at a higher price)?
Sometimes I have the feeling that most of the Bitcoiners view Bitcoin simply as a financial tool, which was created to help them make more fiat money. I understand this mindset, but there's something wrong about it.

[Mr.suevie]

Not even 1% of people on the planet are familiar with the fundamental strength of Bitcoin. Over 99% don't know anything yet. The halvings can NOT be priced in if 99% of people don't even understand Bitcoin.

You're saying that if 99% of population converted to Bitcoin believers, the price would explode, but that's a very big if. These days most people who are not too young or too old are aware of Bitcoin. They know that it's some digital currency that goes up and down. And they are not interested. They are satisfied with fiat currency.

So while there's a lot of potential for Bitcoin, that potential is not realistic. Adoption is stagnating, Bitcoin is not getting used increasingly more as a currency. The on-chain activity of less than 1 million transactions per day is laughably small compared to transaction volumes of fiat currency.

And I think one of the reasons attributed to this slow adoption is because of FUD spread everyday by anti bitcoin users and also the government and another thing again is that bitcoin in a very large is just bought by the rich folks and kept freezing in planning to their investment

[stompix]

What I find really funny about these topics is that they pop like mushrooms when there is a dump, It's like everyone needs reassurance and start preaching to the choir as it would somehow magically words from people with the same mindset reported ad nauseam will somehow turn out to be true.

I guess it is similar to the threads that appear in bull market that give a higher and higher prediction. I remember at the end of 2021 it was not uncommon to see $300,000 predictions for this cycle on the forum. And outside the forum as well.

Yeah, but the tone is different!
In those times you only hear rockets, moon, we're going to hit 100k, 200k, everyone cheering, wine glasses, champagne bottles everything.
In a bear market it's more like, there is still room to grow, it will for sure go up, ETF is coming, Wallstreet is secretly pouring money, rather than everyone parting is like everyone seeking reassurance that things will get better, instead of champaigne flowing is more like a stench of soiled pants! 

You are coming up with the assumption that the Bitcoin price will rise forever and ever.
What if all major countries in the world(USA, UK, EU, etc...) ban Bitcoin trading and mining?

If they ban mining it won't be that much of a problem, we could still find enough cheap energy to keep this level of hashrate high enough to guarantee the safety of the chain, of course, we won't be able to find 4x-5x times more, which is going to weight a lot when it comes to confidence, you can't have a 10 trillion blockchain guarded by machines worth 100 million, it's inviting troubles!

If trading is banned, then we can close the chapter of getting rich by holding coins, with all the wealth that matters getting spooked from investing it by bye trading and investing and back to the original, a p2p cash system, like Satoshi wanted! No more no more moon, no more billionaires from shitcoins but good old and boring payment system!

So, at the same time, not really that bad and not that great either!

[Ultegra134]

Due to Bitcoin's absolute scarcity and clearly defined inflation plan that can always be determined in terms of time, it cannot be otherwise than that a unit of these 21,000,000 steadily becomes more valuable and thus fragments of these units as well.

Not even 1% of people on the planet are familiar with the fundamental strength of Bitcoin. Over 99% don't know anything yet. The halvings can NOT be priced in if 99% of people don't even understand Bitcoin.

You are coming up with the assumption that the Bitcoin price will rise forever and ever.
What if all major countries in the world(USA, UK, EU, etc...) ban Bitcoin trading and mining? Will the Bitcoin price hit 100K or 1 million? I don't think so.
You are assuming that only 1% of the global population are familiar with Bitcoin. Maybe you are right, but is there a valid reason for the other 99% to care about Bitcoin(other than buying and waiting to sell at a higher price)?
Sometimes I have the feeling that most of the Bitcoiners view Bitcoin simply as a financial tool, which was created to help them make more fiat money. I understand this mindset, but there's something wrong about it.

I understand the OP's point of view; similarly to how we didn't know back in 2010 that Bitcoin would skyrocket and exceed prices of $60,000, we don't know what may happen in 2025 or 2030, and so on. The possibilities are endless, but it doesn't necessarily have to go positively; it can go both ways, one of which is what this user has suggested, and I totally agree. They say that there's no theoretical limit, but in practice, it can't rise forever.

Generally, a small percentage of the total population knows about Bitcoin, and an even smaller one possesses over 0.01 BTC, which shows that we still have a long way to go to achieve any kind of mass adoption, which in my opinion will never occur because Bitcoin is now seen as an asset and an investment rather than a currency, which was its original purpose.

There's only one way to find out: patience.

[Blitzboy]

...

What thing I've leant from this comment is to be long sighted when it comes to Bitcoin , many of us investing in Bitcoin are short sighted about it, Bitcoin has the power to live and become as old as gold is, think of what the value of Bitcoin would by the time it becomes 50 years old , 100 years old, 200 years old and even more with a limited supply of 21 million coins? Many of us are investing in Bitcoin with a mindset like "let's have our own slice of the cake as quick as possible before Bitcoin disappears in a few years to come", what an error 🙃..

Freely chip in your thoughts/contributions .

when you decide to become an investor, your goal in investing is to make a profit, but do you have the intention to feel the benefits of the bitcoins you invest in the next 100 or 200 years? of course not, so whatever investors do with the bitcoin they have, that is their right, from what I have noticed, everyone has different problems in their life, as well as bitcoin investors, maybe someone sells bitcoin because of FUD but there are also those who sell their bitcoins because they really need money for something important or they are indeed a trader, so I think your sentence at the end is not very on target.

Everyone has their own hustle, their own grind, and their own motivations for entering the crypto landscape.

You're correct that some individuals may sell Bitcoin due to FUD, while others may simply need to place food on the table or pay off debts. Investing in Bitcoin, or anything else for that matter, is not a one-size-fits-all proposition. Each person's voyage is distinct.

Therefore, lets not judge too quickly. Instead, lets disseminate some positivity, some love, and perhaps some crypto knowledge. Because, ultimately, we're all just attempting to make those green numbers rise.

[michellee]

Because there is a factor of uncertainty that we don't know, that is, we can't predict what the future will look like, that makes us decide to make such a decision. It's reasonable that most people think and decide that way because the human lifespan is so short, assuming most of us die at the age of 80 (this is very rare nowadays in most countries of the world).

And even though we could use Bitcoin as an inheritance for our posterity, we prefer to cash out the Bitcoin when we can make the most profit, which we can see later at the time of the highest price increase. We will wait for the price to decrease until it hits the lowest price again to buy and that will happen continuously until we die and finally, we will pass it on to our children.

But as we know, we already have a plan about how we use our Bitcoins. Are they going to keep their Bitcoin for 50 years, 100 years by giving it to their children so they can continue what their parents did to Bitcoin or until our whole life and finally we don't do anything to the Bitcoin we have.

So it's going back to each of the people who have Bitcoin. Our lifespan is very short and we cannot enjoy the Bitcoins we have forever. The longest we can enjoy is up to 80 or maybe 90 years. After that, we die. And it's only natural that people have that mindset.

[aoluain]

You are coming up with the assumption that the Bitcoin price will rise forever and ever.
What if all major countries in the world(USA, UK, EU, etc...) ban Bitcoin trading and mining?

If they ban mining it won't be that much of a problem, we could still find enough cheap energy to keep this level of hashrate high enough to guarantee the safety of the chain, of course, we won't be able to find 4x-5x times more, which is going to weight a lot when it comes to confidence, you can't have a 10 trillion blockchain guarded by machines worth 100 million, it's inviting troubles!

If trading is banned, then we can close the chapter of getting rich by holding coins, with all the wealth that matters getting spooked from investing it by bye trading and investing and back to the original, a p2p cash system, like Satoshi wanted! No more no more moon, no more billionaires from shitcoins but good old and boring payment system!

So, at the same time, not really that bad and not that great either!

TBH I cannot see them banning mining because Bitcoin offers such a great INVESTMENT
opportunity that powerful people will want a slice of the 21 million Bitcoin cake.

We all know what the benefits are that Bitcoin offer and those benefits are not going to
change so definitely more and more people
will want to tap into those and benefit form them.

Its just a matter of time.

We have already seen top business people do a 180 on their Bitcoin attitude.

There was also a time where a lot of peoples outlook was that they had missed the boat
because of the amount of Bitcoin already mined but that isnt an issue anymore. In terms of
the future investment which Bitcoin is going to attract we are so damn early here and now!

[laris2]

What I find really funny about these topics is that they pop like mushrooms when there is a dump, It's like everyone needs reassurance and start preaching to the choir as it would somehow magically words from people with the same mindset reported ad nauseam will somehow turn out to be true.

I guess it is similar to the threads that appear in bull market that give a higher and higher prediction. I remember at the end of 2021 it was not uncommon to see $300,000 predictions for this cycle on the forum. And outside the forum as well.

Every Bitcoiner knows about the famous 10,000 Bitcoin for two pizzas (~$40) - the exchange in 2010 where Bitcoin was first used as money.

Even though 10,000 Bitcoin now means complete financial freedom, many people see this as a reason to believe that the Bitcoin train to financial freedom has sailed.

I understand the message you want to convey, but I believe that real price increases in the future will be slower. Assuming $20 for a pizza today is 0.00077 bitcoin. By 2036 I doubt that 0.00077 will be as valuable as 10,000 bitcoin is today.

With the generality of the message I agree. Bitcoin is a scarce commodity that will continue to appreciate and amounts that seem modest today may become life changing, but I would add that for this it is better to keep accumulating, not waiting for 0,00077 bitcoin to change your life.

The longer down the road we go the less multiples it might grow, growing from 100 users to a 1000 users was easy.
Going from a million to 100 millions will be a long journey, and the more you invest and have the less multiples it needs to increase in value for you to sustain a comfortable living.