Most people who own Bitcoin don't Trust Bitcoin

[Antonixx]

Many people say they believe in Bitcoin, but I think most of them only believe in green candles. Once the market starts pumping, everyone suddenly becomes a long term investor. They start talking about decentralization, financial freedom, and how Bitcoin is the future.... But let the price drops down 20%, that same conviction disappears. Fear replaces belief, and “long term holders” start looking for the exit Lol

That always makes me wonder.... do these people actually trust Bitcoin? Caus I wouldn't buy something this volatile without trusting it.

Real conviction shouldn't depend on green candles. If your belief disappears with volatility, it was never really a belief... it was just excitement.
I'll always say this, Bitcoin does not test your intelligence first, it tests your patience.

Many of the people who call themselves investors are not holding Bitcoin, they are just holding hope that someone else will buy it higher.

what's your opinion

[_act_]

You still do not talk anything about the reason people that trust bitcoin do not trust bitcoin. Buying  bitcoin when everybody are buying is not a good reason you should not say they do not trust bitcoin.
 
I understand that some people just fomo, but that is not a good reason, there has been all time high.

Many of the people who call themselves investors are not holding Bitcoin, they are just holding hope that someone else will buy it higher.

Hope is different from certainty. It is more about certainty than hope.

[BattleDog]

I think most people trust Bitcoin about as far as their position sizing lets them trust it.

A man with 3% of his net worth in cold storage can sound like a monk when price drops 30%. A man with rent money, leverage, and a Telegram group whispering "last chance before moon" will suddenly discover every philosophical weakness in Bitcoin at the first red candle. That doesn't always mean he never believed in Bitcoin. Sometimes it just means he bought too much, too fast, for the wrong reason.

There's also a difference between trusting the protocol and trusting the market. I trust Bitcoin to keep producing blocks, enforce supply rules, and not ask Jerome Powell for permission. I do not trust the market to behave like a polite adult. The market is mostly just drunk raccoons with a brokerage account.

[FirmWars]

One question I had love to ask you is that, did Satoshi Nakamoto created bitcoin so we can only hold it for profit? To you and everyone with this kind of idea, I always wonder if it's a crime that I buy bitcoin today and sell it the following day or is it even a crime to own it today and decides to liquidate it few weeks or months later? People can have bitcoin as an investment, as hot savings which they just want to use it at any moment the need comes and also as an everyday medium of transaction. You guys are misunderstanding the purposes of bitcoin. Some people even say if I'm not a holder, then I'm not a bitcoiner, BS.

[Nwada001]

I'll always say this, Bitcoin does not test your intelligence first, it tests your patience.

You are still not far from the people you criticize if you are also in this line. If you believe Bitcoin test holders' patient levels, you are still talking about green and red candles. What happens when you buy when the candle is green and it turns red? You hold for decades without hope of seeing green again. Will your patience be the same? Without belief in the protocol and having other reasons to hold bitcoin other than the value change, patience will mean nothing; it will fade away in due time.

[She shining]

They trust Bitcoin not the volatility. I know it would rise, I understand it's strengths and selling point but doesn't mean I don't fear we going under. And you get more emotional the higher amount staked. Just buy via spot and hold.

[Lucius]

All those who have a problem with trust actually have a real problem with understanding what Bitcoin actually is. Accordingly, if you don't understand, then you don't have confidence, but you just live in the hope that your $100 invested will one day be worth ten times more, of course if you don't sell at a loss first because you were afraid of a 10% price drop.

Let's be honest, the mainstream media still writes negatively about Bitcoin, whether it's for the agenda of consuming huge amounts of energy or for criminals to launder money and evade taxes. The average Joe has been listening and reading this nonsense for more than 10 years and will rather invest in stocks or gold than in Bitcoin, and even if he invests in Bitcoin, he withdraws his money at the first sign of possible danger.

By the way, less than 5% of people today have or have had any contact with Bitcoin, I think that speaks for itself, right?

[SquirrelJulietGarden]

Many people say they believe in Bitcoin, but I think most of them only believe in green candles. Once the market starts pumping, everyone suddenly becomes a long term investor. They start talking about decentralization, financial freedom, and how Bitcoin is the future.... But let the price drops down 20%, that same conviction disappears. Fear replaces belief, and “long term holders” start looking for the exit Lol

That always makes me wonder.... do these people actually trust Bitcoin? Caus I wouldn't buy something this volatile without trusting it.

People like that don't either trust or believe in Bitcoin but let's say believe and trust serves similar meaning.

It's explainable with psychological pitfalls of market cycle, as the market is volatile enough to challenge any people participate in it, so it's truly fearful with people who did not prepare their knowledge before joining, did not manage their finance & investment capital as well as risk management well before joining.

When people joins this market with pure greediness without preparations above, they will have weak psychology and weak hands, so that they will exit the market with fear very naturally.

[Queen uloma]

Bitcoin firstly does not test a person’s intelligence, what it test is how patient you’re, many people can understand bitcoin and want to invest but they’re finding it hard too because they’re not emotionally ready for the pressure that comes with it. The truth is that many people who claim to be investors doesn’t hold bitcoin in longterm vision.
Someone who really trust and understand bitcoin how works, will know that bitcoin price  rise and fall over time, and anyone who understands how it works know when to stay calm whenever bitcoin markets goes up or falls. Instead of panicking to sell.

[Exitoral]

I agree with you. Most people don't trust Bitcoin. They are only riding the hype. When pull comes to shove they exit. A lot of people only believe in the green era of Bitcoin and fail to realise that life has ups and downs. Why should it be any different with Bitcoin. Just that in the case of trading generally, it is called volatility.

A lot of people have Ponzi scheme mindset and they bring that into Bitcoin. The only problem with this is that they will surely get burned out.

[Egii Nna]

~~Snip~~

You are just babbling, because I don’t see any point in all what you said. How can someone invest on what he is afraid of? Or are you talking for yourself? Or did you mean does that invest in bitcoin due to FOMO?

All I will say is that people who are longtime investors and know what investment mean will fear nothing, unless if you don’t believe in cryptocurrencies. Those that knows cryptocurrencies for while now has seen what they have gained. That is why, if you really want to gain big in bitcoin, you are advised to go on a longtime investment not going after quick profit.

So, if you think other people are cautious of their investment because bitcoin is very volatile, I will classify those people as new investors of bitcoin, and don’t even know how this thing works. They need more knowledge before they even invest, because bitcoin is not what you will just go into casually, as scammers and hackers are always active and such people might be a victims.

[buwaytress]

By the way, less than 5% of people today have or have had any contact with Bitcoin, I think that speaks for itself, right?

I'd also wager less than 5% of that 5% have had contact with the Bitcoin network. I know it's been years since I properly talked to people who "owned" Bitcoin and later realisiing they only have an account that says they've got Bitcoin, so don't use an actual wallet, much less knowing how to use it, but am sure that's still the case today, if not more the case.

So the thread's title... could itself be a misnomer in representation. Most people who don't own their coin, yeah, don't trust the network.

[Dr.Bitcoin_Strange]

What I always is that, people who have a concrete knowledge about Bitcoin will not have this kind of fear to sell their coins when they are not even in profit. What helped me to be profitable in Bitcoin investment was because of my knowledge, I did well for myself to learn and I was also observing how the market moves and all that was important to learn. If someone who owns Bitcoin doesn't trust Bitcoin, what do you think the issue is? It means they lack knowledge and to help such person, educate them more about Bitcoin so that they can take better decision.

[arzuo]

In fact, just as a bear 📉 market exposes the believers, a bull market exposes the greedy and the unbelievers.
Since there is manipulation in the market, there will be some decline in this market.
Also, not everyone is a skeptic during a decline (especially influential people). They often keep BTCitcoin idle and quietly collect and buy it, but when the market drops too low or there is bad news, they also start spreading ✍ fake news to bring the market down even further so that they can buy more.

[purple_sparkles]

I think bitcoin, unlike many things happening in the world, has shown remarkable stability. It follows a fairly consistent cycle, with periods of growth and periods of decline, yet each new cycle has surpassed the previous one in terms of overall performance. In my view, this is actually one of its strengths, because it gives people opportunities to buy at more favorable prices during downturns. I believe many investors take advantage of this strategy. Of course, there are also plenty of people who see it differently and remain skeptical about bitcoin.

[suzanne5223]

Based on what you said, I believe you're talking about the so called Bitcoin influencer whose purpose was for a marketing agenda, getting more publicity through Bitcoin while also milking their followers with a Bitcoin enthusiast illusion.
We also have people with the exact belief on this forum because when there's a correction or blood bath in the market, a lot of unexpected questions about the future of BTC are asked by some users. I don't believe they will still be naive about BTC price movement.

Many of the people who call themselves investors are not holding Bitcoin, they are just holding hope that someone else will buy it higher.

These are what you see in the lives of people that dont understand the solution BTC presented and the importance of it in the future, because once an invention, technology, or asset solves a problem, it will thrive technically.

[Russlenat]

I assumed you are talking from a beginner's point of view. Most of them are just investing in bitcoin because of peer pressures, because they feel envy how others have turned successful from long term investing in bitcoin, and because its on hype right now. With this, you don't trust bitcoin, you are just doing it because that's what everybody around you is up to.

But for us long-term investors, we wouldn't be here until now if trust is not strongly built within, if conviction is not deeply rooted, if we are here just to simply make profits.  We trust bitcoin and for us, it's our future, but that does not mean we lose the trust from having fiat, fiat is still essential in our daily lives.

[freedomgo]

Yes, not all people who own and invest into bitcoin have developed genuine trust for it. Some are just there buying and hoding for short term while hoping to gain speculative profits. They don't invest for bitcoin because they believe it could be a long term reliable investment and currency, but they are into bitcoin because they want to take advantage of its highly potential, profitable asset while it last.

In short, those who own bitcoin have different beliefs, some are actually the true believers, while others are considered the short-term opportunists.

[Miles2006]

Fear of missing out also can sometimes discourage investors either when the price is low or high, patience is very important for investors to hold not minding the dip because bitcoin bear season trigger a lot of early sellers obviously the topic says it all “most people who own bitcoin don’t trust bitcoin” they’re just here for the profit sake which is very much valid as a matter of fact we invest in bitcoin because we trust and hope we’ll gain profit during the long run aside earning profit it’s advisable to stay patience with price movement otherwise investors who quickly sell whenever there’s a decline might lose everything.

[Stalker22]

~
Many of the people who call themselves investors are not holding Bitcoin, they are just holding hope that someone else will buy it higher.

what's your opinion

Why is "holding hope that someone else will buy it higher" a bad thing?  The way I see it, that is literally the definition of investing!  Whether it is Bitcoin, gold, real estate, or stocks, everyone buys an asset hoping it appreciates so they can eventually sell for a profit.

I think you are completely dismissing the fact that most people are in this to make money, and there is absolutely nothing wrong with that.