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Author Topic: Btc and people knowledge  (Read 797 times)
Gladitorcomeback
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February 27, 2024, 12:10:13 PM
 #101

People say that they don't know what is the btc and there is no clear story for them to trust btc.

There is no excuse for this sentence any more. BTC is not remains unknown things. Anyone who claiming that he don't know about btc will lie or will be ignorant man. I don't see any site where crypto news not found. Youtube, Facebook, Twitter, Telegram showing ads of Binance, Bybit where btc remains on the top. Whole world started adopting btc and if some ignorant people want to be ignorant in fast technology era then there is no solution for such kind of people except leaving them alone.

I am living in a country where devolping is not like Europe and our education level is low in current stage and crypto buying and selling is also not allowed but here 80% people  knows the importance of btc and most of them holding for long term while people of devolped country will be more mature.

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February 27, 2024, 12:58:28 PM
 #102

People say that they don't know what is the btc and there is no clear story for them to trust btc.
But the same people don't know what is the money and how it's created and they are collateral or some type of security body by themselfes.
Little do they know how the banks even creating money.

If people don't know about money then how can they know about BTC? You know many people knows money is nothings for emotions but many people give another conceptions about money because they know money is everything for living. Money do all kind of activities. So, many people says a stupid concept about money. According this concept, they want to be fool so that people shows sympathy to them.



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Rainbot
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February 27, 2024, 01:57:30 PM
 #103

People without the knowledge of bitcoin should not be blamed and surprising some have never heard about a digital currency like bitcoin while some don't just want to accept the technology, which category are you referring to if I may ask. We should not blame people without the knowledge but we should inform and educate them about bitcoin. Even with this statement I still can't believe most people have never heard about bitcoin now in this modern world when everything is attached to the internet and you let ignorance prevail.
People still don't trust bitcoin and they prefer holding fiat due to what they heard about the internet etc. Holding fiat is not so bad besides we still make use of fiat, the difference here is bitcoin is an asset meanwhile fiat is not, holding bitcoin has profit attached so it's advisable people should accept and love the modern technology.
people have heard and people have learned to make excuses for what will help them get money if not now When I first heard about Bitcoin, I was not that convinced because I was not sure where the profit was coming from until it was properly explained. With my research, I was convinced, and my interest in it grew. People who have an interest in it have certain things that keep them, mainly money to invest. because to invest in Bitcoin, you need money to do anything.

And the innovation of Bitcoin as a digital currency makes it interesting since all we are trying to do is alternate, and look for other means of payment. and Bitcoin have been introduced to the system. Even though there are programs that use Bitcoin, you have the option to learn a skill so you can give such programs a try. With a little research, you won't have a problem investing or even trading. And the way things are going, bitcoin is far better than fiat.

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February 27, 2024, 05:55:08 PM
 #104

People say that they don't know what is the btc and there is no clear story for them to trust btc.
But the same people don't know what is the money and how it's created and they are collateral or some type of security body by themselfes.
Little do they know how the banks even creating money.
So money the fiat currencies are unknown same like btc for many people.
Also all people live their lifes and nobody don't ask questions what's the purpose of life.
It's funny how they acting like they know everything but yet they don't nothing and then they say they know about money but don't know about btc.
Off course If some well known person will tell them let's use btc it's good and safe becouse i say so and Im trusted then people Will follow.
The same people who say things about cryptocurrency that it's unknown for them they act like they really know all about the other things what they trust,If you ask from average person can they explain the process of creating money debt and Fiat currency...they don't know.

Well, first, you have to understand that fiat and bitcoin are not the same age, fiat currencies have been even before most of born were born, and even till now, it's still here and have been serving as a means of buying and selling for everybody.
And on other hand, bitcoin was invented in 2009, and fully become a market commodity in 2010, that's around 15 to 16 years ago, the popularity of bitcoin can't be compared to that of fiat, and without much arguments, it's very understandable why it's like most people still lack the basic knowledge of bitcoin, bitcoin is still very young, forget the fact it's doing well in the market today and worth thousands of dollars, there is still a lot of people in the world who still have not or has never heard of bitcoin before, it is with time that such people will be on boarded, the same way you and I and everyone else are here today.

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February 27, 2024, 06:27:27 PM
 #105

Almost most of the people in the world know what Bitcoin is now, so people are now very loyal to Bitcoin. There was a time when people didn't believe in Bitcoin and the digital currency, but nowadays most of the people are involved in investing with this Bitcoin. In today's era, Bitcoin has gained trust of people due to which more people invest in Bitcoin than banks. However, generally, people now invest and hold bitcoins to keep their money safe. But I believe it is safer to hold an investment in Bitcoin than real currency, and I trust Bitcoin.

Actually people were familiar with bitcoin in past but they did not believe about its success but now as they see the success of bitcoin so their believe increases because everyone is in search of technique to earn money and whatever they find beneficial then they start accepting that. Bitcoin is a safe currency and investment opportunity and without going down and depreciation in value it is giving huge money in return to its investors. Bitcoin's previous value was very lower but now as successful bitcoin is no other currency can ever become profitable therefore as its success increases the number of investors will also increases.



 

 

 

 

 

 


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February 27, 2024, 09:00:38 PM
 #106

The same people who say things about cryptocurrency that it's unknown for them they act like they really know all about the other things what they trust,If you ask from average person can they explain the process of creating money debt and Fiat currency...they don't know.

Sometimes, everything and people's knowledge will also depend on what media they follow. Because not all media talks about Bitcoin clearly and well. In fact, many people because they don't like it only spread about the minuses or weaknesses of Bitcoin. So, that's what these people also accept, giving rise to thoughts like that. And unfortunately, they will always believe more in the media they believe in with the various opinions they get.
My advice to people like this, tell them, it's useless for us to argue about this with them. because they will always say that what they say is true and they will always think that they know everything.

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February 27, 2024, 09:56:42 PM
 #107

People question and double new innovations much. Especially when they are not forced to adopt it. When they are given freewill to choose they'll question every process and actions. But when they are coerced, they have no option than to adhere. In the case of fiat and banks, I think the older people also resisted the idea of banks and money when it was at the early stage. Maybe from the days of barter to advancing to the money stage was actually not easy.

People are doubting bitcoin today because they doubted television and gave it all sorts of names. People doubted electricity and vowed not to use it, but today many people are using it. So, it is nice if bitcoin is not fully embraced now, but then the future is bright.

People who are doubting bitcoin today need to be laughed at because how do you look at a 4,000 feet mountain and say it’s nothing. To what other height does it need to be before they see and respect it? Bitcoin has been here for a while now and it may be too new when compared to fiat, however, looking at the chart and increase in value for the last decade, we can see how important/valued it is (the price is self explanatory about it).



 

 

 

 

 

 


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February 28, 2024, 01:51:42 AM
 #108

People say that they don't know what is the btc and there is no clear story for them to trust btc.
But the same people don't know what is the money and how it's created and they are collateral or some type of security body by themselfes.
Little do they know how the banks even creating money.
So money the fiat currencies are unknown same like btc for many people.
Also all people live their lifes and nobody don't ask questions what's the purpose of life.
It's funny how they acting like they know everything but yet they don't nothing and then they say they know about money but don't know about btc.
Off course If some well known person will tell them let's use btc it's good and safe becouse i say so and Im trusted then people Will follow.
The same people who say things about cryptocurrency that it's unknown for them they act like they really know all about the other things what they trust,If you ask from average person can they explain the process of creating money debt and Fiat currency...they don't know.

op First of all, if I am not aware of something, of course I can't hear about it or understand it, it shouldn't be a problem. There are many people who have no idea about bitcoin or have no idea about btc they don't involve themselves about it so they won't know about btc. The more we focus on the work, the more ideas we will have, the more knowledge we will gain or know. There are many people who still don't know about Bitcoin or what BTC is.  People who are not aware of bitcoin or btc relationship so far I believe if they know about bitcoin and understand it well then they will definitely focus on investing in bitcoin.

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February 28, 2024, 02:13:39 AM
 #109

Not many people know how fiat money is created, and how governments and wealthy forces around the world use fiat money to exploit the labor and wealth of poor people. That's because in the education system most people don't mention this, they deliberately hide it. We can see how before Bitcoin came popular today, it went through a difficult period, because the dominant forces and government officials knew clearly that Bitcoin would threaten the How to dominate their fiat currency. So, they found the way to kill it but it wasn't successful
Not many people know the value of Bitcoin and the trashiness of fiat currency is understandable. Besides, ensuring daily life is a priority for low-income and middle-class people, so they don't have time to learn about other things. They really don't have many choices in their lives. Therefore, understanding the operating mechanism of fiat money and what Bitcoin is is not important to them
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February 28, 2024, 05:28:10 AM
 #110

Of course - there are many scam investment products in the name of bitcoin and others that promise profits, when in fact it is something designed to trap greedy people. Knowledge and high curiosity can prevent someone from being caught in a scam attempt - whereas someone who easily believes without research will get caught in it.

Bitcoin has great interested among people who know what Bitcoin is - but their laziness and unwillingness to learn will get them caught in the trap of scammers. I hope that the many cases of fraud that occur and spread everywhere can be a lesson for other users - they just need to learn how to avoid it.
If people can verify then the possibility of fraud will be much more difficult because we don't just swallow the invitation that offers large returns quickly. Greed and greed always provide space for certain individuals to enter into psychological influence and when the person's knowledge is inadequate, it will be quite easy for fraud to enter such a person's environment. Especially in my country there are many scams in the name of crypto and many people are trapped because of the problem of large and fast returns.

Ironically, this does not become a lesson and instead makes other people trapped in the same fraud and repeats itself. In fact, if people want to profit from Bitcoin, they can trade or invest independently without needing help from third parties because now there are many trusted exchanges that are legally operating, so independence can be done individually without the need to involve other people.
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February 28, 2024, 08:09:29 AM
 #111

That's true. They say they don't know bitcoin but they don't know what FIAT currency is too. The worst part is, they don't know what they don't know. They think they do... They are half-ignorant which is the worst kind of ignorance. It is because they will refuse to get educated even though they don't know shit. The good news is, bitcoin doesn't care what they think or do. When the time is right, they will have to learn what bitcoin is about. People didn't believe in cars too back in the day. Now nobody is riding horses anymore.
Humans are mainly obsessed with what they see physical or what they where born into, that is the reason Bitcoin is most likely adopted by the young ones. Most of this people still believe there is nothing like Bitcoin since it is nothing physical and getting to find out the person behind Bitcoin has remained anonymous upto this date this will cause them to avoid by all means yet we can term it ignorance.
They are so interested in shorter and quicker methods to make money.People like shortcut and they believe that nothing seems to come out of bitcoin.They just choose to be reluctant and hesitate on a life changing opportunity that seems easy.
Bitcoin is one of the easiest business to embark on compared to what is in circulation presently yet people find it difficult to acquaint themselves with bitcoin systems.
It is now clear enough that no matter how popular and valuable Bitcoin becomes not everybody will deem it necessary or beneficial for them to invest their money.
I don't know how brainwashed they have become to maybe think Altcoins are actually the best to invest due to shorter time of giving ROI unlike Bitcoin but one should first at most consider the safety of his/her funds as it may not have gone like planned.

If someone thinks that all altcoins are better than bitcoin and worth investing in, it is a wrong thought but investing in altcoins is not a bad idea. Not all altcoins are scams and unprofitable. If you do not have enough experience and knowledge, stay away from new altcoins but top altcoins like ETH or BNB are not too bad to invest in.
I know saying this will make many bitcoiners hate it, but the truth is that if you invest in ETH or BNB the returns they bring you will be more significant than bitcoin these days. Many people are trying to deny and don't want to mention this but it is the truth. But everything is very fair, bitcoin cannot bring bigger profits than ETH and BNB but in terms of safety, BTC is still much safer.
I think it's hard for me to conceive the idea of ETH and BNB giving much profits than BTC, this same top Altcoins are the ones still correlated Bitcoin and most times if Bitcoin dumps same happens to them.
Analytically, during the bear market Bitcoin dumped to $20k,if anyone should have invested massively at that point then compare the profits to be made out of that investment with this current price of $55k.

Well, we are not yet fully into the bull season and it is still unknown which coin will give better returns.

But if you look back at the 2021 bull cycle, bitcoin rose from $3k (2018 low) to $69k in 2021, while ETH rose from $100 (2018 low) to nearly $5k in 2021. In your opinion, which coin brings better profits? As for the upcoming bull season, if bitcoin can touch $100k, have you ever thought that ETH will cost $15k? Not to mention memecoins like Doge have increased 100 times, Shiba brought in thousands of percent profits in the 2021 bull season. So which coin brings better profits?

I just want to compare to show you that you should not miss some golden opportunities when the bull season comes. This comparison makes no sense as bitcoin has become much larger and safer than altcoins. And everyone's investment taste is different, Bitcoin is really worth investing in because it is really safe and brings significant profits, but it cannot be denied that altcoins will bring greater profits.

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February 28, 2024, 08:24:54 AM
 #112

People question and double new innovations much. Especially when they are not forced to adopt it. When they are given freewill to choose they'll question every process and actions. But when they are coerced, they have no option than to adhere. In the case of fiat and banks, I think the older people also resisted the idea of banks and money when it was at the early stage. Maybe from the days of barter to advancing to the money stage was actually not easy.

People are doubting bitcoin today because they doubted television and gave it all sorts of names. People doubted electricity and vowed not to use it, but today many people are using it. So, it is nice if bitcoin is not fully embraced now, but then the future is bright.

People who are doubting bitcoin today need to be laughed at because how do you look at a 4,000 feet mountain and say it’s nothing. To what other height does it need to be before they see and respect it? Bitcoin has been here for a while now and it may be too new when compared to fiat, however, looking at the chart and increase in value for the last decade, we can see how important/valued it is (the price is self explanatory about it).

And why is there a need to laugh at this people? I mean we all have our own preferences and choices, if they did not believe in bitcoin in the first place, well there's not much we can do but respect it. Just consider yourself lucky you get ahead of these people, because some of them will surely follow us after learning how much bitcoin have valued after more than just a decade.
And no, we can't compare fiat with bitcoin, there is actually a huge difference let alone it's longevity and usage, but that doesn't mean bitcoin is way too behind on what the fiat are capable of in this current timeline. Bitcoin have broke the internet many times especially during bull season and during a new ATH is achieved. So, there's no need to crucify those people who did not believe in bitcoin before, because they can read it all over the internet every single day lol.
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February 28, 2024, 08:36:51 AM
 #113

I'm a very young person, I don't understand bitcoin as much as you do, but even though I'm young, I have some idea about bitcoin because I've been watching bitcoin since 2017.  The price of ebitcoin tripled in 2022 from what it was in 2017 because the way the price of bitcoin increased in 2022 we knew that bitcoin would probably exceed 100k dollars.
 But ironically or whatever, the price of bit drops in the beginning of 2023 and the price drops to the bottom which is not very acceptable for us.  Why is the price of bitcoin going back to full in 2024 and increasing like this morning I saw 58 thousand dollars and still 1000 dollars it seems that the price of bitcoin will surpass 70 thousand very soon and this is my personal prediction?
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February 28, 2024, 09:19:28 AM
 #114

I'm a very young person, I don't understand bitcoin as much as you do, but even though I'm young, I have some idea about bitcoin because I've been watching bitcoin since 2017.  The price of ebitcoin tripled in 2022 from what it was in 2017 because the way the price of bitcoin increased in 2022 we knew that bitcoin would probably exceed 100k dollars.
 But ironically or whatever, the price of bit drops in the beginning of 2023 and the price drops to the bottom which is not very acceptable for us.  Why is the price of bitcoin going back to full in 2024 and increasing like this morning I saw 58 thousand dollars and still 1000 dollars it seems that the price of bitcoin will surpass 70 thousand very soon and this is my personal prediction?
Since you have been connected to cryptocurrency or watching Bitcoin since 2017 you have seen many ups and downs in this cryptocurrency. Actually when bitcoin was created people were not so much interested in bitcoins people were more interested in fiat currency. The price of Bitcoin has increased over time which has now made Bitcoin the main point of attraction for people. The price of Bitcoin is not what it was when you mentioned, ie the price of Bitcoin has gone up a lot and will continue to go up in the future. We all know that Bitcoin Halving is supposed to be organized in April.

Many of us imagined that maybe we would see a small bullrun in the market before the Bitcoin halving happened, and maybe that is what is happening now. The price of Bitcoin has been increasing at a rock-solid pace for the past few days, and it seems that Bitcoin will be able to cross $70,000 very soon. Bitcoin price reached a 24-hour high of $59,487.12 today.

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February 28, 2024, 10:00:30 AM
 #115

One thing I know is that everyone cant just accept Bitcoin or accept Bitcoin at the same time. Some people will still have doubts in it because it is a new innovation to them. But it is so annoying that people fail to do some research about bitcoin and they leave doubt in them for a longtime thinking it won't be of any benefit.  The traditional currency we believe is worse and can never save us in anyway.  Keeping money in the bank is suppose to yield little interest but it is the opposite.

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February 28, 2024, 10:26:21 AM
 #116

People say that they don't know what is the btc and there is no clear story for them to trust btc.
But the same people don't know what is the money and how it's created and they are collateral or some type of security body by themselfes.
Little do they know how the banks even creating money.
So money the fiat currencies are unknown same like btc for many people.
Also all people live their lifes and nobody don't ask questions what's the purpose of life.
It's funny how they acting like they know everything but yet they don't nothing and then they say they know about money but don't know about btc.
Off course If some well known person will tell them let's use btc it's good and safe becouse i say so and Im trusted then people Will follow.
The same people who say things about cryptocurrency that it's unknown for them they act like they really know all about the other things what they trust,If you ask from average person can they explain the process of creating money debt and Fiat currency...they don't know.


It's really normal for some people who dont know about Bitcoin to say a lot of things that are not true because they just trust Bitcoin and do not know anything about it, they just do not have enough knowledge yet to understand how Bitcoin technology operates, but at the same, it's not really their fault because there are already a lot of rumor in the internet about Bitcoin, and if they are going to rely on the news Bitcoin and cryptocurrency really have a bad image overall because it is already involved in a lot of illegal activities, people used to seeing Bitcoin being involved in scams, pyramids, etc where people lose money, aside from that people are using it as well to scam people, something like encouraging people to invest saying that they are going to invest it on cryptocurrency and Bitcoin hoping that they are going to earn but end up losing it to a scammer.

There was obviously no way around it, the only way to do encourage them is if they are the one going to learn it or research about it that way they are going to understand it by themselves and know the potential of Bitcoin.

there are interviews where a youtuber is asking random people on the streets whether they know about BTC. surprisingly, the majority of those random people don't know BTC. i think there's still more than 90% of people around the world don't know BTC but trust banks with their fiat money issued by the government that is backed by nothing.

it's common for people to just trust the government because after all it's the government. and if the money is issued by the government then it's good enough for them. not asking anymore more than that. and i think because most people are in the rat race too.  too busy to make money working 12 hours a day and have no time to ask whatever is there that the discovery channel is talking about.




Yeah easy to trust a physical form of money than the electronic one. That is the most common reason why majority of people around the world are still into fiat currency. Only few smart people who are interested with cryptocurrency or Bitcoin really appreciate it's value, potential and opportunities. We cannot blame these people because most of them aren't tech savvy or having knowledge about blockchain technology and the like.



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February 28, 2024, 01:51:51 PM
 #117

Almost most of the people in the world know what Bitcoin is now, so people are now very loyal to Bitcoin. There was a time when people didn't believe in Bitcoin and the digital currency, but nowadays most of the people are involved in investing with this Bitcoin. In today's era, Bitcoin has gained trust of people due to which more people invest in Bitcoin than banks. However, generally, people now invest and hold bitcoins to keep their money safe. But I believe it is safer to hold an investment in Bitcoin than real currency, and I trust Bitcoin.
I think most of the people don't know much about Bitcoin but the name Bitcoin is a familiar word to many people. With the touch of technology, people are now starting to gain faith in digital currencies. Despite the popularity of Bitcoin and other cryptocurrencies, many people still use and feel comfortable using fiat currencies. Fiat currencies have been the primary form of money for centuries, and they are widely accepted, regulated and supported by governments and financial institutions. This level of trust and familiarity is still challenging for new currencies like Bitcoin to gain widespread acceptance and use. But Nowadays many people are investing in Bitcoin to protect the privacy of their money.

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February 28, 2024, 03:44:49 PM
 #118

People say that they don't know what is the btc and there is no clear story for them to trust btc.
But the same people don't know what is the money and how it's created and they are collateral or some type of security body by themselfes.
Little do they know how the banks even creating money.
So money the fiat currencies are unknown same like btc for many people.
Also all people live their lifes and nobody don't ask questions what's the purpose of life.
It's funny how they acting like they know everything but yet they don't nothing and then they say they know about money but don't know about btc.
Off course If some well known person will tell them let's use btc it's good and safe becouse i say so and Im trusted then people Will follow.
The same people who say things about cryptocurrency that it's unknown for them they act like they really know all about the other things what they trust,If you ask from average person can they explain the process of creating money debt and Fiat currency...they don't know.


It's really normal for some people who dont know about Bitcoin to say a lot of things that are not true because they just trust Bitcoin and do not know anything about it, they just do not have enough knowledge yet to understand how Bitcoin technology operates, but at the same, it's not really their fault because there are already a lot of rumor in the internet about Bitcoin, and if they are going to rely on the news Bitcoin and cryptocurrency really have a bad image overall because it is already involved in a lot of illegal activities, people used to seeing Bitcoin being involved in scams, pyramids, etc where people lose money, aside from that people are using it as well to scam people, something like encouraging people to invest saying that they are going to invest it on cryptocurrency and Bitcoin hoping that they are going to earn but end up losing it to a scammer.

There was obviously no way around it, the only way to do encourage them is if they are the one going to learn it or research about it that way they are going to understand it by themselves and know the potential of Bitcoin.

there are interviews where a youtuber is asking random people on the streets whether they know about BTC. surprisingly, the majority of those random people don't know BTC. i think there's still more than 90% of people around the world don't know BTC but trust banks with their fiat money issued by the government that is backed by nothing.

it's common for people to just trust the government because after all it's the government. and if the money is issued by the government then it's good enough for them. not asking anymore more than that. and i think because most people are in the rat race too.  too busy to make money working 12 hours a day and have no time to ask whatever is there that the discovery channel is talking about.

Yeah easy to trust a physical form of money than the electronic one. That is the most common reason why majority of people around the world are still into fiat currency. Only few smart people who are interested with cryptocurrency or Bitcoin really appreciate it's value, potential and opportunities. We cannot blame these people because most of them aren't tech savvy or having knowledge about blockchain technology and the like.

Bitcoin is still a new thing even though it is already running for years some people still doesnt know it for them it's still a new thing, and even in the market, there is no proof or any guarantee that the market is going to sustain its value because it is just a digital asset there was no some kind of backup or any kind of value when it comes to tangible assets. The Market is just driven by the supply and demand of the market, other than that there was no other value to it, I mean we still know people who don't trust Bitcoin because of it, even though they are already successful people. And we know how risky investment in cryptocurrency is even though we invest our money on it and witness it skyrocket its market price.

I think we just need some time for the cryptocurrency and Bitcoin to adopt in our countries and a lot of business, I mean I could already see a lot of companies going and promoting cryptocurrencies on there platform, there are some banks here in my country and also support cryptocurrency allowing there users to buy and sell cryptocurrency with that, it could easily help for some users to trust and understand Bitcoin more.

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February 28, 2024, 04:51:06 PM
 #119

That's true. They say they don't know bitcoin but they don't know what FIAT currency is too. The worst part is, they don't know what they don't know. They think they do... They are half-ignorant which is the worst kind of ignorance. It is because they will refuse to get educated even though they don't know shit. The good news is, bitcoin doesn't care what they think or do. When the time is right, they will have to learn what bitcoin is about. People didn't believe in cars too back in the day. Now nobody is riding horses anymore.
Humans are mainly obsessed with what they see physical or what they where born into, that is the reason Bitcoin is most likely adopted by the young ones. Most of this people still believe there is nothing like Bitcoin since it is nothing physical and getting to find out the person behind Bitcoin has remained anonymous upto this date this will cause them to avoid by all means yet we can term it ignorance.
They are so interested in shorter and quicker methods to make money.People like shortcut and they believe that nothing seems to come out of bitcoin.They just choose to be reluctant and hesitate on a life changing opportunity that seems easy.
Bitcoin is one of the easiest business to embark on compared to what is in circulation presently yet people find it difficult to acquaint themselves with bitcoin systems.
It is now clear enough that no matter how popular and valuable Bitcoin becomes not everybody will deem it necessary or beneficial for them to invest their money.
I don't know how brainwashed they have become to maybe think Altcoins are actually the best to invest due to shorter time of giving ROI unlike Bitcoin but one should first at most consider the safety of his/her funds as it may not have gone like planned.

If someone thinks that all altcoins are better than bitcoin and worth investing in, it is a wrong thought but investing in altcoins is not a bad idea. Not all altcoins are scams and unprofitable. If you do not have enough experience and knowledge, stay away from new altcoins but top altcoins like ETH or BNB are not too bad to invest in.
I know saying this will make many bitcoiners hate it, but the truth is that if you invest in ETH or BNB the returns they bring you will be more significant than bitcoin these days. Many people are trying to deny and don't want to mention this but it is the truth. But everything is very fair, bitcoin cannot bring bigger profits than ETH and BNB but in terms of safety, BTC is still much safer.
I think it's hard for me to conceive the idea of ETH and BNB giving much profits than BTC, this same top Altcoins are the ones still correlated Bitcoin and most times if Bitcoin dumps same happens to them.
Analytically, during the bear market Bitcoin dumped to $20k,if anyone should have invested massively at that point then compare the profits to be made out of that investment with this current price of $55k.

Well, we are not yet fully into the bull season and it is still unknown which coin will give better returns.

But if you look back at the 2021 bull cycle, bitcoin rose from $3k (2018 low) to $69k in 2021, while ETH rose from $100 (2018 low) to nearly $5k in 2021. In your opinion, which coin brings better profits? As for the upcoming bull season, if bitcoin can touch $100k, have you ever thought that ETH will cost $15k? Not to mention memecoins like Doge have increased 100 times, Shiba brought in thousands of percent profits in the 2021 bull season. So which coin brings better profits?

I just want to compare to show you that you should not miss some golden opportunities when the bull season comes. This comparison makes no sense as bitcoin has become much larger and safer than altcoins. And everyone's investment taste is different, Bitcoin is really worth investing in because it is really safe and brings significant profits, but it cannot be denied that altcoins will bring greater profits.
So during the 2021 bull cycle, back then in 2018 if both invested $1k dollars into both Ethereum and Bitcoin and held till the bull cycle, you think holding Ethereum will give much more ROI than Bitcoin would give, do the calculations.

If Bitcoin defenitly gets to $100k, certainly which it will achieve, Ethereum will only hit maximum of $6k to $7k, there is no assurance of Ethereum reaching such price of $15k.
I know for sure there are many Altcoins like you made mention that has given much more better profits, that aside if their is any opportunity to invest aside Bitcoin it is no bad idea.

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MFahad
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Eloncoin.org - Mars, here we come!


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February 28, 2024, 05:09:34 PM
 #120

Actually people were familiar with bitcoin in past but they did not believe about its success but now as they see the success of bitcoin so their believe increases because everyone is in search of technique to earn money and whatever they find beneficial then they start accepting that. Bitcoin is a safe currency and investment opportunity and without going down and depreciation in value it is giving huge money in return to its investors. Bitcoin's previous value was very lower but now as successful bitcoin is no other currency can ever become profitable therefore as its success increases the number of investors will also increases.

Bitcoin might be the safest among all other cryptocurrencies because it was the first-ever cryptocurrency which is the reason why it is the most trusted cryptocurrency, but that doesn't mean it doesn't carry any risks. It's a great investment asset because it appreciates in value in the long run, but an investor must know when they are investing in Bitcoin that the price of Bitcoin can drop as well which a lot of new investors ignore when making their investments.

We often see newbie investors calling Bitcoin bad, a ponzi scheme, a scam, a bunch of other names, just because they bought Bitcoin and then the price of Bitcoin dropped and they saw their portfolio losing value. Since they didn't have enough knowledge, they didn't know it's normal.









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