The general public still doesn't understand Bitcoin is still growing

[thecodebear]

I agree with the op that, by some accounts, cryptos became mainstream in 2017 because they gained tons of attention during that bull market. On the other hand, one could argue that Bitcoin (and cryptos in general) still isn't mainstream because only a tiny minority of the world population actually owns it. But as for FTX collapse, I'd actually say it had a pretty minor impact on the crypto market. Bitcoin went down from around $20k to below $17k, but then recovered to $20k+ in just a couple of months. And that was the end of its impact. Then the market started slowly recovering over 2023, so there was no market collapse.

The price impact of FTX only lasted a couple months sure, but to the general public that was Bitcoin and crypto collapsing. There was huge media attention around FTX and all of it bad. Most people don't hear that much about Bitcoin very often, but in the Fall of 2022 and again during 2023 while SBF's trial was going on the average person was hearing about Bitcoin and what they were hearing was that a major part of it had collapsed due to corruption.

This thread is talking about the general public's perception of Bitcoin, not the Bitcoin market itself which of course will always rebound from any bad thing. Heck, at end of last year my mom was very concerned for me because she read an article about the FTX collapse and I was like its fine its just one exchange and the Bitcoin market is bottoming but from what she had read she tried to convince me that this time was different and Bitcoin was collapsing. I laughed and told her it was fine, but this was the effect on the general public who don't know much about Bitcoin. Every market cycle the average person thinks that Bitcoin was a bubble and it's too late to get into it now and now its on its way down to zero. And FTX made a lot more people think that since 14 months ago.

I would guess there are a lot of people who don't even know Bitcoin has recovered and is 3x the price it was after the FTX collapse, because they just assume Bitcoin is still collapsing after FTX. Or if they have heard the price went up some they just assume its a bubble that will pop on Bitcoin's way down to zero. That's the perception of the general public.


Anyway, yeah by crypto becoming mainstream in 2017 I mean that's when most people heard about it. Of course it isn't actually mainstream because hardly anyone has Bitcoin. But I mean it entered the mainstream consciousness in 2017. It went from something hardly anyone had heard of, to suddenly most people having heard of it (and thinking it was some get rich quick scheme), to 2018 when the bear market came most of those people thinking it was some bubble that popped and isn't a legit thing to put your money into cuz it was just a bubble.

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[BitcoinPanther]

Anyway, yeah by crypto becoming mainstream in 2017 I mean that's when most people heard about it. Of course it isn't actually mainstream because hardly anyone has Bitcoin. But I mean it entered the mainstream consciousness in 2017. It went from something hardly anyone had heard of, to suddenly most people having heard of it (and thinking it was some get rich quick scheme), to 2018 when the bear market came most of those people thinking it was some bubble that popped and isn't a legit thing to put your money into cuz it was just a bubble.

But then as we both agree, Bitcoin had made these people who think that Bitcoin bubble had popped wrong.  After some years, Bitcoin is able to recover its market and eventually make another All Time High on 2021.

About the title of the book you stated, I think the author wanted to create a title that will get  the attention of the readers, it is more on sales of the book than the actual situation of the cryptocurrency market.  I also think that the author does not dig deep enough and just put his focus on the FTX issue which in fact does not represent the whole of cryptocurrency.  I feel bad for the author because of his intention of making an eye catching book title, he end up with a title that will be laugh by the generations to come.

[ancafe]

What you say is very correct, of course we don't need to read books whose authors don't have clear reference sources because this will make it difficult for us to invest in Bitcoin and if we choose to read a book we have to first find out the background of the author, whether it is true. Whether an author has clear references or not, some people who make videos sometimes just take advantage for themselves and don't care whether what they say is in accordance with existing reality or not.

When someone finds out that the book they are reading contains wrong understanding, of course they will never read the book again and will look for a book that has an explanation and a clear reference source.

People read books to broaden their horizons so that they know more about the contents, but if the author cannot present accurate information, how can we possibly make comparisons about the writing that has been written? It is important to first look at the author's background because if you follow it incorrectly it will give a misleading understanding and even if the intention is to read then there must be a filter to filter the information contained in the book.

Now there are many videos and book made that are not about the content but rather trying to narrate something and they try to make a profit with these videos. Therefore, we have to be smart in choosing the reading and video we watch because if it is wrong it will give a wrong understanding.

[wxa7115]

Anyway, yeah by crypto becoming mainstream in 2017 I mean that's when most people heard about it. Of course it isn't actually mainstream because hardly anyone has Bitcoin. But I mean it entered the mainstream consciousness in 2017. It went from something hardly anyone had heard of, to suddenly most people having heard of it (and thinking it was some get rich quick scheme), to 2018 when the bear market came most of those people thinking it was some bubble that popped and isn't a legit thing to put your money into cuz it was just a bubble.

But then as we both agree, Bitcoin had made these people who think that Bitcoin bubble had popped wrong.  After some years, Bitcoin is able to recover its market and eventually make another All Time High on 2021.

About the title of the book you stated, I think the author wanted to create a title that will get  the attention of the readers, it is more on sales of the book than the actual situation of the cryptocurrency market.  I also think that the author does not dig deep enough and just put his focus on the FTX issue which in fact does not represent the whole of cryptocurrency.  I feel bad for the author because of his intention of making an eye catching book title, he end up with a title that will be laugh by the generations to come.

If they earn money out of it they will not care at all, now in all honesty I would have no problem with an author that went as deep as possible to try to figure out how the FTX fiasco came to happen, and I would be interested in reading it.

However it is clear that such an event is going to be used to try to discredit this market and the idea of bitcoin to as many people as possible, and while they may succeed for a time, bitcoin is once again showing signs that it is ready to shock the world once again, making FUD like this completely ineffective.

[Renampun]

FUD against bitcoin is something that we will never be able to get rid of, just like the author of the book wrote, he didn't do in-depth research on what he was writing, he only made a book with one episode, he should have made a book with episodes lol. Many people discuss Bitcoin, in the future we will definitely keep experience declines and increases in Bitcoin price, this is a very normal thing to happen to Bitcoin because Bitcoin is very volatile.
if we go back a few years then we will see that the FUD against bitcoin is really serious, the news about bitcoin is a bubble also continues to spread but today, bitcoin continues to prove that this will not happen, bitcoin adoption will continue to grow and its price will automatically increase.

[Charmekkd]

How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.

Not everyone is aware of bitcoin's potential and not everyone is interested in bitcoin. Maybe those are the right words for this situation. Because after all, it will definitely be difficult to convince someone about bitcoin, if that person is not really seriously interested in bitcoin.

Maybe leaving such people behind is the right thing to do and let them realize the potential of bitcoin itself. Because people like that are people who like to judge without experiencing it first. So let them realize it themselves and experience it for themselves. So that they are confident and don't feel doubts about bitcoin.

[Lorence.xD]

FUD against bitcoin is something that we will never be able to get rid of, just like the author of the book wrote, he didn't do in-depth research on what he was writing, he only made a book with one episode, he should have made a book with episodes  Many people discuss Bitcoin, in the future we will definitely experience declines and increases in Bitcoin, this is a very normal thing to happen to Bitcoin because Bitcoin is very volatile.

Almost every person applies FUD to anything, and it is normal for that to exist cause Bitcoin is volatile and has pros and cons, you wouldn't always experience the good side for sure. And some FUDs are not always a negative thing for Bitcoin's adoption as they gain attention from the public, some wouldn't even waste their time thinking about it cause the bad thing has already sunk into their heads, but they are still people would be interested, and do their own research and would find out that Bitcoin is a cryptocurrency that you can invest conveniently with and profit.

[Blitzboy]

What you say is very correct, of course we don't need to read books whose authors don't have clear reference sources because this will make it difficult for us to invest in Bitcoin and if we choose to read a book we have to first find out the background of the author, whether it is true. Whether an author has clear references or not, some people who make videos sometimes just take advantage for themselves and don't care whether what they say is in accordance with existing reality or not.

When someone finds out that the book they are reading contains wrong understanding, of course they will never read the book again and will look for a book that has an explanation and a clear reference source.

People read books to broaden their horizons so that they know more about the contents, but if the author cannot present accurate information, how can we possibly make comparisons about the writing that has been written? It is important to first look at the author's background because if you follow it incorrectly it will give a misleading understanding and even if the intention is to read then there must be a filter to filter the information contained in the book.

Now there are many videos and book made that are not about the content but rather trying to narrate something and they try to make a profit with these videos. Therefore, we have to be smart in choosing the reading and video we watch because if it is wrong it will give a wrong understanding.

I always say that reading a book without a critical lens is likely miss the point. Checking an author's credentials? An absolute must.  Who hasn't gone down a YouTube rabbit hole and questioned their life choices hours later? Information seekers should proudly display their skepticism. Ask inquiries, get sources, and never trust anything.

We've got to be smart about what we consume, just like we're careful about what we eat (well, most of the time). Misinformation is brain junk food - easy to consume but unhealthy.

[Ale88]

How do we educate people that Bitcoin is a continuously growing global currency that is still in its early staged and each big boom and crash is just its early growing pains? Its just crazy to me that people see Bitcoin becoming more and more valuable and its much much more valuable than the few thousand dollars it was worth when they likely first heard about it in 2017 and yeah they all think it was just a bubble that has passed and they missed out and there's no reason in paying attention to it or owning it now. And then of course they'll be surprised in 2024/2025 when they start hearing about Bitcoin again but then by 2026 when the next bear market hits they'll forget all about the past market cycles and go back to thinking oh it was a bubble and is now dead.

Those people are not missing on bitcoin, it's you who are missing on those people, and by that I mean that you think that everybody is interested in becoming wealthier, smarter, curious, and the reality is that the majority of people don't care about that. You can spend (or waste) all the time you want explaining why bitcoin is unique and yet these people will rather spend their money to buy another fancy bag or another pair of shoes rather than invest that money. And if they even have the guts to tell you that bitcoin is a bubble then just stop talking to them about bitcoin, why wasting your precious time?

[Thomas Tookasian]

What surprises me most is to see the enthusiasm of many 'bitcoiners' for the arrival of heavyweights like Blackrock, when they should be less impressionable and consolidate the community even more. Bitcoin will keep growing alright, but it needs the community, and from now on even more than ever.

[Ale88]

What surprises me most is to see the enthusiasm of many 'bitcoiners' for the arrival of heavyweights like Blackrock, when they should be less impressionable and consolidate the community even more. Bitcoin will keep growing alright, but it needs the community, and from now on even more than ever.

I can understand your point of view, which it totally makes sense, but you also need to understand that for some people this could be a once in a lifetime possibility to sell their bitcoins and make a ton of money, probably so much money that the next 3 generations shouldn't even work. Anyway this is a very limited number of people, the average bitcoiner will have to hold for a long time before being able to actually change his life.

[_BlackStar]

-snip-

I can understand your point of view, which it totally makes sense, but you also need to understand that for some people this could be a once in a lifetime possibility to sell their bitcoins and make a ton of money, probably so much money that the next 3 generations shouldn't even work. Anyway this is a very limited number of people, the average bitcoiner will have to hold for a long time before being able to actually change his life.

I think I can understand that correctly too - so yes, this is an opportunity that should not be missed by anyone who is aware that this technology is developing in a positive direction. Earning as much money as they want is a bonus - meanwhile, governments will likely gradually accept bitcoin as a means of payment that benefits everyone including state revenues.

The crypto industry will continue to grow and more and more large companies will consider these assets as investment assets or means of payment. Increasing adoption and increasing business networks will make this industry even bigger - but of course not everyone realizes it because some of them still find it difficult to accept the development of this industry.

[Youngkhngdiddy]

I think I can understand that correctly too - so yes, this is an opportunity that should not be missed by anyone who is aware that this technology is developing in a positive direction. Earning as much money as they want is a bonus - meanwhile, governments will likely gradually accept bitcoin as a means of payment that benefits everyone including state revenues.

The crypto industry will continue to grow and more and more large companies will consider these assets as investment assets or means of payment. Increasing adoption and increasing business networks will make this industry even bigger - but of course not everyone realizes it because some of them still find it difficult to accept the development of this industry.

The Cryptocurrency industry is one that's growing very rapidly, especially Bitcoin, we've seen over the years how it moved from it's intinial price of 0.001 since late 2009 when it was introduced to a current price of about 40k plus, that is enough to convince a lot of individuals, companies and various industries to invest in it over the years, and I believe in years to come it would surge to a greater all time high and even keep increasing after that.
 Well based on the fact that Bitcoin is volatile which makes it reduce  in price sometimes, it has caused alot of individuals and industries to doubt it's potentials though some individuals are not participating in Bitcoin investment due to several restrictions and bans by their various countries. However sooner or later, some countries would be forced to uplift the ban, which in return would attract more individuals, companies and industries to participate in Bitcoin investment, Bitcoin is here to stay.

[Doell]

The crypto industry will continue to grow and more and more large companies will consider these assets as investment assets or means of payment. Increasing adoption and increasing business networks will make this industry even bigger - but of course not everyone realizes it because some of them still find it difficult to accept the development of this industry.

Exactly right, the crypto industry will continue to grow. Currently also many companies are implementing crypto as their payment, and of course in the future it will continue to do so for their ease in doing business. On the other side, when the price collapse will be the most awaited moment to add assets, vice versa when the price reaches new ATH it is the momentum for us to get big profits. Especially bitcoin, as the only valuable asset, I think will still main the target of business people.

[ancafe]

I always say that reading a book without a critical lens is likely miss the point. Checking an author's credentials? An absolute must.  Who hasn't gone down a YouTube rabbit hole and questioned their life choices hours later? Information seekers should proudly display their skepticism. Ask inquiries, get sources, and never trust anything.

We've got to be smart about what we consume, just like we're careful about what we eat (well, most of the time). Misinformation is brain junk food - easy to consume but unhealthy.

That's why a person must have a broad view when reading several books that are available and perhaps reading material is not a problem as long as they don't use it as a reference source. Technological developments in the field of digitalization cannot limit anyone from writing in the form of books or opinions, but insight is needed to assess the level of truth because otherwise people who read will be increasingly misled. Looking for accurate information also requires research and it is impossible to swallow the source completely without reviewing it again.

Difficulty receiving information due to lack of reading material so it is easy to get caught up in books that are affiliated with untruths. Just like we search for videos on YouTube and how many videos we are looking for will come up, but the extent to which the video is correct depends on a person's level of knowledge when reviewing it.

[thecodebear]

What surprises me most is to see the enthusiasm of many 'bitcoiners' for the arrival of heavyweights like Blackrock, when they should be less impressionable and consolidate the community even more. Bitcoin will keep growing alright, but it needs the community, and from now on even more than ever.

Why would it surprise you that bitcoiners like to see bitcoin grow and start becoming an investment for the major players in TradFi? Why would you want to consolidate and shrink bitcoin adoption? Spreading bitcoin is a good thing, no matter if its to a poor person or a wealthy person or a investment firm or a government.

I'm always amazed when some bitcoiners on here say they actually don't like it when Bitcoin spreads to certain kinda of people or organizations, like they want to gatekeep who is allowed to own bitcoin. That goes against the very idea of bitcoin being an open currency for anyone in the the world.