Vitalik Buterin came out to drop his own version of Fear Factory on Bitcoin investors.
I'm sorry I going to have to call it a FUD.
You shouldn't take offense at Vitalik for his version of the forecast regarding possible events.
By the way, what if he turns out to be right? That’s certainly possible too, isn't it?
By the time quantum computer hits Bitcoin,
Health care, hospitals, transportation, security systems, banks and logistics would be the first victims of Quantum computer, they would have been hit long before Bitcoin gets touched.
It’s simply that the bitcoin topic is generating the most buzz and seems scarier to people, as it concerns their most valuable asset - private savings; losing them is the most terrifying prospect of all (from their perspective) compared to the other things you listed.
I don't know about the past but today, the whole world depends on cryptography.
Yet, some people just decide to FUD Bitcoin as if Bitcoin is the only thing exposed to Quantum threat.
Because bitcoin is like
a sweet slice of the pie, given that it has now become synonymous with wealth.
Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.
But that doesn't diminish the threat level on bitcoin in the slightest.
My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?
"Weak hands" sell at the first sign of panic. There is no point in worrying about them or keeping track of them; their losses are their own problem.
Who is buying? There is a saying: "There are two fools in the market - one who buys and one who sells".
There will always be buyers, because even fears surrounding quantum computers aren't enough to scare everyone off.
They understand how to play the psychology of new investors. So maybe they are trying to take the opportunity to seek profit through cheaper purchases so they can accumulate more Bitcoin.
If the quantum threat is being widely discussed in the media, it is quite possible that this is being done to instill fear in investors (it is no secret that the media promote viewpoints advantageous to their owners and are neither impartial nor objective in their interpretation of events).
There are always two sides in trading: sellers and buyers, and there are always two predictions and two actions taken. It's just that they will have one mistake that could benefit someone else.
This is precisely a zero-sum game. In the market, there is always someone who loses.
Who will buy? Investors already understand the market conditions and the cycle of how Bitcoin moves.
Investors see the benefits (profit) that bitcoin offers for long-term ownership \ investment.
Don't worry, I think as long as there is still trust in Bitcoin, new buyers will always come.
So be it.
Institutions and various large companies have added additional confidence, so I think Bitcoin will still have a special value that may become increasingly difficult to predict. IMO
Predicting the dynamics of bitcoin has never been easy. In fact, I’d say it’s impossible. In all the years I’ve been watching this market - and despite the countless "experts" weighing in on the "future" of bitcoin, not a single one has actually been able to "see the future". To me, that’s the "beauty" of bitcoin: the impossibility of knowing which way the asset is "moving", as it retains an element of "surprise". After all, how boring would the crypto market be (and wouldn't everyone just become a millionaire?) if you could know for sure how the chart would move?
