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Question: Your biggest bitcoin fear
Bitcoin failing to achieve it's purpose of financial privacy and freedom
The likeliness of Bitcoin hitting zero dollar one day
New innovation that surpasses bitcoins decentralized functionality , forcing investor/users to abandon it
Centralized exchanges and institution hoarding 90% bitcoins, thereby forcing the system to centralization
Breaking into Bitcoin script by government or others
Government use of ETF as control strategy
Loosing all funds due to minor mistakes
Under accumulation before the next big bullish market
Bitcoins been destroy due to World war 3
The crash of internet
Government ban and jail threat
Fear of death and total loss of bitcoins forever
Compromised device

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Author Topic: What is your biggest fear  (Read 606 times)
ImThour
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September 29, 2024, 06:13:50 PM
 #21

My biggest fear is to have no Internet access in the world. Which will break so many things including Crypto. I love multiplayer games and it's part of my life from a very young age, if I wouldn't be able to communicate over the internet that will be very hard. I mean I can surely live with my friends but this is the biggest fear in terms of technology, I can't live without an Internet connection. So it indirectly means I will not be able to trade my Bits for cash if I ever want making them useless.

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September 29, 2024, 06:49:46 PM
 #22

My biggest fear is losing my bitcoins to scammers due to my own carelessness. This is why, I try as much as possible to be security conscious always. Regarding Bitcoin's invention, I am not scared that Bitcoin might eventually turn out to be a scam or another invention that will soon fade away. I have 100% trust in Bitcoin and I am willing to risk it. Bitcoin has come a long way for me to still have doubts about it.

My second big fear is being unable to access my bitcoins either due to lack of electricity, Internet or system malfunction. What ever form it will come with, I should be able to have access to my coins whenever I want.

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September 29, 2024, 07:01:42 PM
 #23

I definitely remember those early days of investing in Bitcoin.  Man, I was scared to death I would lose everything.  That constant fear of a total loss clung to me.  Even now after some growth, one of my top worries is still governments bringing the regulatory hammer down hard on the Bitcoin market in a major way.  That could really mess things up and  i also worry about the security risks, like for example hacking or theft.  While Ive taken steps to lower the risk there, the fear of seeing my account zeroed out is always lurking.

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September 29, 2024, 07:07:29 PM
 #24

One of my biggest fear is that the government in my country will ban cryptocurrency and put to jail if they find out that you are still using cryptocurrency even though it is not allowed. Having no access to Internet is also one of the things that I don't want to happen. Crypto being banned won't stop people from using crypto but there's a risk of you ending up in jail if that happen. I think that's the most important for a bitcoin enthusiast want to avoid or don't want to happen.

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September 29, 2024, 07:45:37 PM
 #25

Before, many thought that government and institutional involvement would make Bitcoin more valuable. And then, the actual thing has come and it becomes the fear of many but we can no longer revert that. While the value of Bitcoin increased and it did happen, we're starting to see that it didn't come just as many have thought. Mostly, thought that it was just about adoption, usage, demand, and whatnot. Come to the actual point of government and institution intervention, we've seen ETFs, one country that made it as a legal tender, soon we'd see more of these countries use a Bitcoin reserve aside from having gold's.

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September 29, 2024, 08:38:19 PM
 #26

With all the years of experience, bitcoins has become a daily life for investors in bitcoins .
 Even at this, do you know that in most cases of things you know too well, fear do arise when you think the other way round.
 Since you have been investing or studying about bitcoins as a newbie, what are still your biggest fear.
Bitcoin has become part of my normal life activities because of this forum and my Bitcoin investment too; I don't feel good when I haven't check any Bitcoin related application or visited this forum to see the discussions going on, and I am used to it because of the freedom involves in Bitcoin investment.
My biggest fear is that, I don't Bitcoin price to surge high when I am yet to accumulate good amount of Bitcoin because I will want to have good fraction of Bitcoin before Bitcoin price go above $100k.

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September 29, 2024, 10:06:30 PM
 #27

When the whole world goes on a chaos and internet access will be cut down through its connection first from the depths of the ocean with those fiber cables and then interrupted signals from the satellites like starlink. That's a real chaos when that happens.
No gets to see the internet and so as the network continue running but our holdings will remain intact when that happens but no transactions.  Undecided

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September 30, 2024, 06:28:16 AM
 #28

Yeah, everybody have fears, but seriously mine is seeing bitcoin not reaching it highest peak, like bitcoin not taking over and reaching it full potentials. I could still remember when I started engaging in bitcoin and where bitcoin have put me today, I know there are others like me who have really achieve so much since the coming of bitcoin. Coming from a country like mine where we are still an under developing country, bad economy, bad governance, currupt leaders and lack of unemployment. Most of us really engage in bitcoin and crypto to earn a living. So if bitcoin should crash today it will be a huge loss for people like us and that my biggest fear.

I know how much this forum have be of benefit for me, through investment and even earing from the forum so imagine where I would have been without bitcoin today. Practically I will even say I live on bitcoin right now I Don't have any other thing doing so if bitcoin should crash today then maybe i will also crash because I don't even know where to start from.

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September 30, 2024, 08:04:38 AM
 #29

My biggest fear is the government issue an executive order to force all citizen to give their all of their Bitcoin, just like Executive Order 6102 that talks about gold.

I also scared if there would be a time almost all of Bitcoin (let's say 99%) are hoarded by centralized exchanges and institutions, then they will force people to use their own exchange and wallet because they hold the real coins, only distribute the fake Bitcoin like ETFs or off chain version.
It can happen to Gold, but not with Bitcoin.

I mean you can't store Gold in a non-custodial wallet, right? You can store your Bitcoin on a non-custodial wallet and I'm thinking how they can have access to something that they don't have control at first place. IMO, a government forcing their people to give their Bitcoins to them is almost close to impossible. If they will ask me, I'll just say I don't have any, and they can't force me as well. I have the control at the end of the day.

As for the CEX hoarding the Bitcoins, I don't think that this will also happen as well. Just for context, there was a time where the total Bitcoins stored on all exchanges is decreasing on a daily basis because investors are storing it on their own wallet. I just don't know if this is still the case now but realistically speaking, I believe they can't hoard 99% of the total amount of Bitcoins in circulation.

 
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September 30, 2024, 10:01:16 AM
 #30

With all the years of experience, bitcoins has become a daily life for investors in bitcoins .
 Even at this, do you know that in most cases of things you know too well, fear do arise when you think the other way round.
 Since you have been investing or studying about bitcoins as a newbie, what are still your biggest fear.
Bitcoin has become part of my normal life activities because of this forum and my Bitcoin investment too; I don't feel good when I haven't check any Bitcoin related application or visited this forum to see the discussions going on, and I am used to it because of the freedom involves in Bitcoin investment.
My biggest fear is that, I don't Bitcoin price to surge high when I am yet to accumulate good amount of Bitcoin because I will want to have good fraction of Bitcoin before Bitcoin price go above $100k.

For a decade bitcoin play vital role on our everyday life since it gives good opportunity to improve our life and if there's something bad will happen to this asset then for sure that this is devastating event for all of us.

But I'm thinking about that to happen that's why I make sure that have back up plans towards gaining income since its hard to rely on single investment. That's why I try to have multiple businesses so that if there's something crazy thing happen to what we think a good investment. Nothing will happen to me on financial side.

But hopefully those negative assumptions thought by people will not happen since what we really aim here is to see bitcoin to became a legal tender to all countries around the world.

R


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September 30, 2024, 10:03:44 AM
 #31

My second biggest fear is that Bitcoin and all other Cryptocurrencies fail at achieving their purpose, ultimately leaving us with no other option for Financial Privacy and Freedom.  Bitcoin and Monero are to me two wonders.  I always felt unsafe holding Fiat, whether in Banks or not.  I always wanted an alternative.  Finding Bitcoin felt like discovering a completely new land.

My biggest fear is that the World becomes so dystopian that not only will Bitcoin fail, but every single thing becomes under such strong control that we are left with no more Rights.

This is enough reason for any Bitcoin enthusiast to get really worried if it occurs but merely looking at the history of Bitcoin, I'm not really worried about Bitcoin not achieving it's purpose cause it gradually going global and overtime it's set different heights so I believe that Bitcoin is gradually achieving it's purpose for different use cases and would do more better in the near future. Well there's lots of things I could be scared about concerning Bitcoin, like fear of not being prepared for the $100k price mark and above due to certain circumstances or fear of not being alive to witness it or even fear of not being alive to witness it but one thing I'm sure of is that Bitcoin has come to stay and the only thing that has the possibility of making it fail is another world war.

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September 30, 2024, 07:24:42 PM
 #32

My biggest fear that all my crypto will be lost when I will die. It's not that I'm preparing to die soon, but you never know what will happen tomorrow. Now I haven't prepared any instructions for my family how to access my crypto when I will die. But even if I would prepare it, I'm a bit afraid that it can be too complicated for someone who isn't familiar with crypto completely.

When the whole world goes on a chaos and internet access will be cut down through its connection first from the depths of the ocean with those fiber cables and then interrupted signals from the satellites like starlink. That's a real chaos when that happens.
No gets to see the internet and so as the network continue running but our holdings will remain intact when that happens but no transactions.  Undecided
And it doesn't even sounds like impossible scenario. Internet infrastructure, software can be main target for someone who want to make worldwide chaos. Remember how much chaos there was not so long time ago with outage of Crowsstrike software. Digital things is cool when everything works fine, but we depend on these things too much.

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September 30, 2024, 07:33:46 PM
 #33

Unlike the rest of my colleagues here, my biggest fear (and I'm talking about probable events, not improbable like dystopian futures or whatever, which would scare anyone at the time but I don't think it will really happen in the next few years) is linked to the fact that I have been in this crypto thing for many years now, and if everything went to hell I don't know how would I fill the emptiness it would leave me.

Not that I don't have a life, of course, but I have become accustomed to crypto and Bitcoin in particular being a permanent illusion in my life. And I fear losing a little feeling of purpose if my expectations were not met.

I guess I should find myself a different hobby, but I don't think it was up to this one Undecided

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September 30, 2024, 07:44:08 PM
 #34

With all the years of experience, bitcoins has become a daily life for investors in bitcoins .
 Even at this, do you know that in most cases of things you know too well, fear do arise when you think the other way round.
 Since you have been investing or studying about bitcoins as a newbie, what are still your biggest fear.

I have a lot of things in my mind that make me feel scared about bitcoin, but my biggest fear is that they said bitcoin is the future currency. But what makes me feel like we will find this difficult to achieve is that many countries are still against this currency (Bitcoin), especially the government, which still slows its adoption in some regions of the world. Nobody knows what the world will decide. The currency is getting adopted world-wide, though I can deny that fact.

 People are getting to know more about bitcoin. But I’m scared if the government decides to tell every citizen to avoid bitcoin or else they will take action with anybody they hold that is into cryptocurrency. Another thing is that if the government decides to accept bitcoin but decides to say they will be the ones to control it, the decentralisation will not be there again, and it will make no sense.

R


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September 30, 2024, 09:29:06 PM
 #35

When the whole world goes on a chaos and internet access will be cut down through its connection first from the depths of the ocean with those fiber cables and then interrupted signals from the satellites like starlink. That's a real chaos when that happens.
No gets to see the internet and so as the network continue running but our holdings will remain intact when that happens but no transactions.  Undecided
And it doesn't even sounds like impossible scenario. Internet infrastructure, software can be main target for someone who want to make worldwide chaos. Remember how much chaos there was not so long time ago with outage of Crowsstrike software. Digital things is cool when everything works fine, but we depend on these things too much.
Yeah, and we can imagine what will happen and everyone that relies on the internet for their livelihood, jobs, business operations, banking, software development, etc.
All of them, I mean all of us even the normal users will be having a hard time when that happens. But I guess all will be back to their former lives just to enjoy televisions and savings in the piggy banks.

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September 30, 2024, 09:38:49 PM
 #36

Losing access to my funds is really the biggest fear for me.

I think we should make this a poll

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September 30, 2024, 09:53:16 PM
 #37

With all the years of experience, bitcoins has become a daily life for investors in bitcoins .
 Even at this, do you know that in most cases of things you know too well, fear do arise when you think the other way round.
 Since you have been investing or studying about bitcoins as a newbie, what are still your biggest fear.
I fear that bitcoin investors may be tempted to move their fund from bitcoin to invest in some new projects because of lack of patient and and bitcoin may never go as far as people think about it. Because bitcoin is a coin of it own and nothing special about it that guarantees longevity rather investors on it. So if the investors gradually move their fund to other project due to bitcoin stargnacy. I know we are still heading towards bull run but bitcoin is slower than expected. it may reduce the value of bitcoin because currently most people have pulled their fund from bitcoin due to wrong speculation and lack of patients.

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FinePoine0
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October 01, 2024, 06:33:25 AM
 #38

With all the years of experience, bitcoins has become a daily life for investors in bitcoins .
 Even at this, do you know that in most cases of things you know too well, fear do arise when you think the other way round.
 Since you have been investing or studying about bitcoins as a newbie, what are still your biggest fear.

The probability of losing money investing in Bitcoin is very low, because if you are, then definitely watch the Bitcoin market in 2010. At that time, the price of Bitcoin in the Bitcoin market was at an all-time low and it has only gone up since then.  So think if you keep investing in Bitcoin for a long time, you will not lose money in any way, but you will get the biggest and biggest benefit.  So a single long-term investment in Bitcoin is the most appropriate and quite self-sustaining.
Forever101 (OP)
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October 01, 2024, 06:25:25 PM
 #39


The probability of losing money investing in Bitcoin is very low, because if you are, then definitely watch the Bitcoin market in 2010. At that time, the price of Bitcoin in the Bitcoin market was at an all-time low and it has only gone up since then.  So think if you keep investing in Bitcoin for a long time, you will not lose money in any way, but you will get the biggest and biggest benefit.  So a single long-term investment in Bitcoin is the most appropriate and quite self-sustaining.


I know there are lots of investors in bitcoins, but what will happen if there is a situation that forces the whales to sell their coins, do you think , there won't be a drastic fall in price . Just  imagining some scenario how it will play out if it happens that way. We all are assuming the possibility of some events which no one can certainly say that they won't occur.

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October 01, 2024, 06:44:00 PM
 #40

Losing access to my funds is really the biggest fear for me.

I think we should make this a poll

Great idea. Although the OP won't be able to foresee all the possible responses so to write all the alternatives, but I guess that he could choose the best ones that come up in this thread and create it when they reach a reasonable number.

Please, take note @Forever101.

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