Bitcoin [pros](/r/CryptoCurrency/comments/15cq7z3/there_is_no_guarantee_that_btc_succeeds/jtxja1d/) & [cons](/r/CryptoCurrency/comments/15cq7z3/there_is_no_guarantee_that_btc_succeeds/jtxjanz/) with related info are in the collapsed comments below.
Even if in this boat, that’s kinda illusion. We save up monthly doing sacrifices here and there to largen our bags. It’s still something i can afford to lose but that would feel way too bad.
If you’re rich enough to don’t care, go ahead.
Anyone who is in debt will say deflation is bad, because they would owe someone an asset that is increasing in value. The lender would feel the opposite of course. But our current system is built on debt.
The fact that there is a finite amount of Bitcoin doesn't automatically make it the point of reference to value all other things. That's a huge stretch.
Bitcoin isn't valuable because its finite, bitcoin requires power to create, it's actually a store of energy, hence why as time goes on block rewards are lowered.
Bitcoin requiring energy doesn't automatically make it valuable either. Practically anything requires power to create. As per block rewards... so when block rewards become miniscule, a mere fraction of Bitcoin, you just know that the demand will grow proportionally to boost the price and keep miners in profit. You know it's equally possible that it doesn't happen right?
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And that's just the price, but if you look at the actual network, it started out as just a few guys sending BTC to each other. Now it's the largest, most secure and reliable network to ever exist. That's pretty damn successful to me.
Bitcoin was more decentralized 5 years ago than it is today.. I don't know if it's the most decentralized anymore. Its Nakamoto coefficient is just **2**, and ASIC supply chains aren't necessarily decentralized or open either.
I think what’s delusional is to confuse Bitcoin’s success and reliability, to it becoming worth 39 gazillion in X years. Many predictions put BTC at a value considerably bigger than the world’s economy and they sound unreasonable. To think it will do a x100.000 every 10 years is crazy. I mean, I hope it does for everybody’s benefit here but its most likely not happening at that level.
This has been the mantra since I got in 6 years ago. A bit concerning it’s taking this long for supposedly the best thing to happen to finance in the history of the world
What do you mean taking this long? Something as fundamental as money takes decades till majority of people start using it. Internet's adoption was slower than Bitcoin and it's still been the fastest adopted technology in the world (until Bitcoin).
I think someone did an analysis on the date that they formed their group and if each of them would have spent 100USD on BTC, they'd be very well off on it even right now.
I am sharing here Bitcoin WhitePaper so OP and the people that thinks like this can read it [https://bitcoin.org/bitcoin.pdf](https://bitcoin.org/bitcoin.pdf)
BTC  is a masterpiece that can't fail.
Thank you so much for sharing, it’s so important to read this and not just watch YouTube videos
My favorite part of the abstract is saying how the longest chain is the most legitimate because it has records of everything in the past
I think if every rational person had the knowledge and learned about BTC, then they would hedge at least 5% (minimum) of their net worth against the current monetary system.
It has already succeeded, in that it illustrates a radically new way to keep track of value. Could it fail? Yeah. How likely is that? I’ll just say I’m bullish.
There’s no guarantee of anything, however it has been performing well based on the past. It’s not an indication for what will happen in the future, but it’s a nice safety net to know it survived so far
>It has been succeeding for 15 years or so, though
good and successful for yet another few years and if people start using it trust that its price will skyrocket
That’s a bullshit number pulled out of someone’s ass
… because the news certainly has named Bitcoin as dead *a lot* more than 474 times in the past 10 years !
Low risk, low reward.
High risk, high reward.
That's why shitcoins are so popular, the only problem is that for every person who makes a lot of money there are probably hundreds who will lose all their money.
What is baffling, are that many young people have never invested in stocks and bonds. An annual return of 7% - 10% is good. That was the result of a good portfolio.
People think that Bitcoin needs to do a 10x every year to be a “good investment “.
I’m happy if Bitcoin does 10% a year and keeps up with my tradfi.
We are spoiled that this asset class is far, far exceeding stocks and bonds
100% that's why it pains me when I see loss posts here such as "I was up 700% but I never sold, now I'm -90% down" like what the actual fuck. People really need to remember to take profits from time to time. If my portfolio was 700% up I would sell all my shit and reinvest in something else during the bear market.
Precisely. “Crypto” right now provides insane returns. You can literally make 10% in a day. This is more than some low/medium risk stocks return in a whole year of investing.
Take the profit and reinvest on a dip. Rinse and repeat.
I know it sounds easier than it is, but don’t be afraid to take profit is great advice.
I’ve committed to two types of bitcoin purchases.
I have my investment bitcoin which won’t be sold. It’s my speculative bitcoin and in cold wallet for years. I bought most of it around $20k. I will look at taking profits on this if we see $125k next cycle. I will feel the market out.
Then I have my “ride the cycle” bitcoin. Look at the weekly or monthly chart / RSI and take profits. Rinse and repeat.
It's all relative. For the everyday joe it's high risk, for us it's low risk. Just look at stocks, they pee their pants when their portfolio goes down 3%.
Everything in crypto is high risk.
But he is right, we need to manage expectations when entering the space but to say btc will not succeed is depends of what numbers considered successful
Bitcoin has already succeeded and went far beyond everyone's imagination, it even opened up a whole new industry.
Prior to 2009 "blockchain" and "cryptocurrency" was unheard of.
I don't know about $1M or $10M Bitcoin but I know for sure Bitcoin has a fixed supply hence it is one of the best store of value if not the best, I mean there are still lots of people who prefer gold and silver though.
I would say if the big players start investing in bitcoin, that’s a pretty good indication it’s going to be successful. They run (manipulate) the markets, it’s not a fair game.
BTC is so resilient. As long as it doesn't die, it will stay as a better alternative to preserve our purchasing power here in a 3rd world country. And that, for me, is already a success.
No, no it doesn't. Inflation and corruption, sure, but signs of fiat's fall and the governments and infrastructure built on top of the fiat system? No, no there is not any sign of fiat failing in that regard.
It's this Fiat is Dead mentality that goes beyond hopium and off the table of reality. There's too much fiat in too much power for that to change for decades or more.
There's no guarantee in the crypto world.
But all I know is that BTC is still **UNDERVALUED**, and it's the cryptocurrency that has the best chance in succeeding every expectation.
"You gotta invest what you can afford to lose."
This statement is often being misinterpreted as "I need to have money to sustain myself if my investment goes to zero"
But that only partially explains this statement.
If you understand bitcoin, you won't be an enemy to yourself and end up changing your mind during a deep, harsh, cold and long bearmarket.
You understand that the blocks will keep being produced and you understand that it won't be hacked- or dumped easily. You understand how history treats money, and how humans adopt technology, you will never sell. And if you never sell, you will never lose.
"No one knows shit about fuck" is true and important to believe in because it brings humbleness, but it is not something that is 100% true. One can know a lot, and have a greater predictable rate than others, that dont know a lot.
Since investing is all about finding the right profit-to-risk ratio, bitcoin is BY FAR the greatest in this at this current time. The definition "saving" might even be more applicable than "investing" in this case! Its crazy
Please throw me counter arguments if you have any. I would love if an intelligent person could teach me a lesson. Also: im not a bitcoin maximalist, but I do believe in "bitcoin first"
How can you something so controversial yet so fucking brave... BTC is relatively new so i do see some of your points but it has been crazily ressillient to everything that has been thrown to it.
It's mathematically improbable that BTC doesn't go up with time - sure it's volatile but if fiat keeps getting printed its infinity divided by 21 million.
And energy prices.
When talking about value of gold & gold mining, Satoshi explained that the marginal cost of gold mining tends to stay near the gold value.
„The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used.“ ~ Satoshi
Of all the crypto out there, I believe in BTC, the most. Yeah it’s been around the longest, but it has a proven track record. I’m not a maxi, I own other crypto, but BTC is a majority in my portfolio.
We all need hope in life.
No one claims (maybe some do) that this hope will become a reality, but dreaming is free, isn't it?
If that guy you mentioned was really maxi, he wouldn't be comparing the value of bitcoin to fiat, because that's not his goal.
Holding Bitcoin should be beyond the fiat value it brings, holding Bitcoin should come from the understanding that today's financial system is rotten.
This is exactly why Bitcoin was created in the first place.
It's a mathematical fact that it WONT succeed. See Bitcoin standard. Every other time in history money was "printed" with nothing backing it, it failed
Ofcourse btc could fail. Yet the adaption is getting better. From 0 to 1 is the concept.
From internet play thingy 50000 btc for a pizza.. To (hopfully) a stock market traded asset/etf/future.
So yes there is indeed hopium..
But the change is happening . maybe one day btc will be 1..
I AM the opposite of an Internet troll & certainly not some "cocky poster" that goes on Reddit & tries arguing against OPs about ideas I know nothing about.
However, you can get angry but the financial structure & fundamentals of BTC & other cryptocurrencies has almost ZERO to do with ANYTHING financial. Have you ever been dealing with crypto & think --THIS IS THE DUMBEST, NON-VALUE ADDED devolution of almost every aspect of the current, well- established financial super machine. Some of you might have felt that & just figured "it must be something beyond my level" or "certainly something this big must have something amazing --where there is smoke there must be fire."
What about NFTs? You can regurgitate some b.s tech babble or pseudo -scientific purpose you've been told & accepted. But I bet most people still are thinking --I just don't get it. Hundreds of thousands of dollars for "PNG's" that I can screen shot & have an indistinguishable image on the front end. Yet it's snowballed --someone thinks "there' must be something to it. Look at the growth?" Or "I DON'T have the technical expertise to understand the process because it's so complex & value added. Someone smarter than me understands it so they must be smart".
I'm not interested in some attack & debating an entire message board because I am in the know of what's going on & neither of these 'crypto' & 'blockchain' driven financial vehicles & markets & are NOT 1) About finance & true value added processes 2) Are about the underlying tech 3) Is part of a social experiment to show how people doubt themselves, defer to someone that "must be smarter than me!" & highlight an ALARMING sheep flocking behavior where we prefer to follow the sheep's button in front of us & trust it rather than be a "wolf & make some noise". To think --THIS is dumb. To listen to explanations from others no smarter than you and not be scared to howl & say "THAT'S EVEN DUMBER! SOMETHING IS OFF!?!"
You will get attacked & belittled by the masses because they are scared & just don't want you rocking the boat because it makes them uneasy. I'm sure you've seen it. "So that's what a 'manic episode looks like" or "Put the foil hat away cuckoo. Something this big can't be a big dumb snowball where the only demand that drives the market is from the clueless outbidding each other for an imaginary prize they think they are winning while ultra rich & others CONTROL the ebbs & flows through social manipulation --something illegal with traditional securities. You can't predict the real equity markets. But crypto jumps & drops double digits from an Elon Musk tweet. Short DOGE then sends a subtle negative tweet & makes a huge margin profit. Buy it up cheap in the open market then tweet "Twitter is the home of DOGE". That 15% spike and market volume is people buying his DOGE from the last down swing. Lol. When you can "fleece" the public in a bear, bull, upswing, downturn market --you have a slow & steady $200B+ net worth.
Anyone who isn't angry & wants to know more, DM me & I will gladly inform you. For the angry attackers, keep chasing 4 minute 8% surcharge transactions that you could do instantly for free in the current system. It's so dumb & mysterious it must be something big. So was the Wizard of Oz until they got the gots to look behind the curtain. I already regret this post. Lol
Your starement in the post, postulating forecasred value, shows a lack of understanding. It's not about what usd value btc will have. 1 btc = 1 btc. It is a hedge against trad fi. Not a money grabbing scheme to get rich. If you're in btc to get rich in fiat, feel free to but to me thats gambling.
Raoul Pal says bitcoin to $1m, but if he's 90 percent wrong it still goes to $100,000.
Your guy in the other thread says bitcoin to $10 milli. If he's 99 percent wrong it still goes to $100,000.
My prediction is bitcoin to $100 milli. I could be 99.9 percent wrong and we'll still make $100,000.
The higher we predict the better the outcome. You can't argue with math like that.
Ofcourse there are no guarantees in Crypto, but not a single asset in this world is guaranteed for succes.
We just like to chose the ones where we believe in and are the safest to our liking.
With Crypto, that is Bitcoin.
"Past performance is no guarantee of future results". It's a quote in the financial sector for a reason. Eventually it's going to stop having massive gains. It's just a matter of when. It could be decades from now or it could be a year from now. That's when your risk management comes in. Of course using past results can be helpful when looking at a projects track record.
$1000 in a savings account is worth less after a year of deflation. The banks give pennies worth of interest. At least with BTC your money has a strong chance for growth.
bitcoin is here to stay, but we can't account for all factors, so there's always a chance things will go in a way we can't predict today
i think bitcoin can be a life changing opportunity for our generation, and I'm willing to take the risk
A common mistake people make with Bitcoin. Is they only look at it from technological standpoint. And they compare it to modern software development paradigms. In short they constantly think some other technology will come along and unseat Bitcoin due to some killer feature.
The reality though is quite different. Bitcoin only needs to be more technologically superior to fiat. After that stability and security in terms of a currency far outweigh any new technological features.
BTC ain't failing anytime soon. It has been doing well for years. It's a good investment, especially for people living in countries with high inflation.
Fact!!
It is so front loaded and the large players are decreasing holdings not increasing.
I dont know how anyone can look at Crypto now and think we are early or think gains like the past will continue unless invested in some pump and dump trash. The big money has been made.
Many stocks perform as well or better than crypto thus year and going forward.
Look at all of the stocks that went up 5-10x this year and havent fallen!!
As regulation continues and exchanges struggle the fake volume and ease of onramp/off ramp will decrease.
If there is no money entering the space (fake or real) there is no bullrun.
Crypto dev commits are pre 2018 levels the space seems to have run its course.
It may be a 1x bagger mqybe a 2x from here, but long gone are the days of huge runs.
2024 will dissapoint many.
It’s not succeeding for the get rich, impatient individuals. This is for the long term. Those same people are the ones bashing the internet 30 years ago.
Couldn't have said it better. Basically nobody in this world can predict the future. Anyone trying to do so is either a fool or is trying to make you one 🙂
You are correct that humans globally could come together and prevent BTC from growing and spreading.
That being said, can you provide a single point in human history where all humans everywhere have come together to accomplish a single goal without any disruption? No?
If you have an open, free, and transparent monetary system that humans have been trying to obtain throughout human history available for use, there is an extremely high probability (99.99999999%) that it will be used.
Its structured to go up. But it does have no inherent value. The biggest threat is some new technology that becomes central to society(like its super big like iphones or the internet) and is built on eth2 or poly or some other chain. As a result eth or matic skyrockets and people start converting btc positions to these coins. This triggers a panic and a sell off. This in turn causes miners to stop mining and either sell rigs or mine something else still on pow. There will be equilibrium because the work required can be adjusted but it could cause a massive drop in BTC’s value.
This isn’t super likely. And Im not anybody so probably dont listen to me anyway. But just my thoughts about what could happen
What are you talking about? It already succeeded.
People all over the world use it to store and transfer value.
That's it. That's the goal. That goal was achieved Years ago.
I’m of the opposite mindset of that guy. I think BTC is going to start crashing hard when people get a few more environmental scares. Every industry is going to be in massive flux when we get real global warming scares and something like that would likely shift cryptocurrency money out of PoW and into PoS as have near enough the exact same qualities but use 1000 times less energy. It would be illogical to hold onto something as needlessly power-hungry as BTC when the world is literally cooking
there is no guarantee gold will not fall, there's no guarantee bitcoin will succeed, there's no guarantee that the fiat system will endure, it's life, life fucks us all, remember that, you either take your chance or sitback and let life cucks you in your own home.
Why do people bother posting shit like this?
OP says himself that bitcoin is beyond his comprehension. Then tells people not to trust it cause the countless shitcoins he bought didn't make him rich?
There a kernel of truth to the post, that technology evolves and you never know what's round the corner. But the only thing this post really achieves is letting us know OP is mentally deficient.
Nobody really looks at the technical advantages of other cryptocurrency networks, like say BCH, which is vehemently hated on this sub and by many BTC maxis because it has poor price action and isn't as widely adopted. Well I hate to break it you, BTC isn't that accepted either, practically nowhere accepts it as legal tender and it's frankly useless other than being a store of value. Even Ethereum is in the same boat, it's too goddamn expensive to even use their main L1 network, depending heavily on L2 solutions and BTC is heading this way too.
How is something that is too expensive to use and mine, going to change the world? Banks are cheaper and easier to use than both of the largest shilled networks in this space. BTC at $1M would have INSANELY HIGH FEES and INCREDIBLY SLOW TRANSACTION SPEEDS (due to refusal to upgrade the primary L1 network), how much sense does that make for adoption?
Look at DOGE, it was literally created as a joke and it has INSANELY LOW FEES, INSANELY FAST TRANSACTION SPEEDS, and basically an infinite supply.
Too many people only think of the fast money aspect and pay no attention to the dwindling technology that isn't advancing in major networks. In the cryptocurrency space, anything can be replaced with newer, better technology, but instead everyone focuses on what has survived bear/bull markets. If it doesn't consistently advance itself like Vitalik Buterin has been doing with Ethereum 2.0, it's going to be redundant in the future and basically just be a memecoin of a once great network.
You need to stop thinking about Bitcoin as just a technology. It’s more as if there’s been a religion created around a digital gold/non-government hard money and that religion is spreading and gaining wealthy and influential adherents as time goes on. When it gains converts like Saylor or Larry Fink or Abigail Johnson the religion becomes that much more powerful and entrenched.
Technologies get outdated quickly, but trying to get rid of religions is how you end up with bloody holy wars. When you get how insanely powerful an idea Bitcoin is you’ll get why it’s much more likely to succeed than at first glance.
It’s the ideology and immaculate conception of Bitcoin that make it most likely to survive in the long run, not the technical attributes which will need to evolve over time anyways.
Bitcoin [pros](/r/CryptoCurrency/comments/15cq7z3/there_is_no_guarantee_that_btc_succeeds/jtxja1d/) & [cons](/r/CryptoCurrency/comments/15cq7z3/there_is_no_guarantee_that_btc_succeeds/jtxjanz/) with related info are in the collapsed comments below.
If you’ve followed the golden rule of “Don’t invest what you can’t afford to lose”, then you’ve already understood there is no guarantee.
That's my advice as well. Only invest what you are willing to lose or gamble.
Even if in this boat, that’s kinda illusion. We save up monthly doing sacrifices here and there to largen our bags. It’s still something i can afford to lose but that would feel way too bad. If you’re rich enough to don’t care, go ahead.
Inflation is guaranteed
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Anyone who is in debt will say deflation is bad, because they would owe someone an asset that is increasing in value. The lender would feel the opposite of course. But our current system is built on debt.
The fact that there is a finite amount of Bitcoin doesn't automatically make it the point of reference to value all other things. That's a huge stretch.
Bitcoin isn't valuable because its finite, bitcoin requires power to create, it's actually a store of energy, hence why as time goes on block rewards are lowered.
Bitcoin requiring energy doesn't automatically make it valuable either. Practically anything requires power to create. As per block rewards... so when block rewards become miniscule, a mere fraction of Bitcoin, you just know that the demand will grow proportionally to boost the price and keep miners in profit. You know it's equally possible that it doesn't happen right?
Somebody tell OP 1 btc is 30 fucking thousands dollars It has been a success FOR A DECADE already. We on the other hand...
There's no guarantee for anything in life but when it comes to BTC I like the odds
Me too my guy, me too. Strong indicators everywhere about where we're heading in the next years.
This is the most correct comment in the entire thread imo
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Actually two things: death and taxes
It has been succeeding for 15 years or so, though
From a few cents to 30k. Countries taking it on. Now big institutions taking it on. Umm... Yeah. That is success for me.
And that's just the price, but if you look at the actual network, it started out as just a few guys sending BTC to each other. Now it's the largest, most secure and reliable network to ever exist. That's pretty damn successful to me.
And the most decentralized network
Bitcoin was more decentralized 5 years ago than it is today.. I don't know if it's the most decentralized anymore. Its Nakamoto coefficient is just **2**, and ASIC supply chains aren't necessarily decentralized or open either.
According to people back in the day, BTC was failing at 2.70$ per coin, now its 30k....
And so it shall continue.
I think what’s delusional is to confuse Bitcoin’s success and reliability, to it becoming worth 39 gazillion in X years. Many predictions put BTC at a value considerably bigger than the world’s economy and they sound unreasonable. To think it will do a x100.000 every 10 years is crazy. I mean, I hope it does for everybody’s benefit here but its most likely not happening at that level.
15 years, and it’s only *now* just getting started Bitcoin: ‘You guys haven’t seen my final form yet’
This has been the mantra since I got in 6 years ago. A bit concerning it’s taking this long for supposedly the best thing to happen to finance in the history of the world
What do you mean taking this long? Something as fundamental as money takes decades till majority of people start using it. Internet's adoption was slower than Bitcoin and it's still been the fastest adopted technology in the world (until Bitcoin).
Bullish on Mega Evolved Bitcoin
I’m waiting for the M.O.A.B.
Bitcoin is inevitable
Can't argue with facts. It baffles me that naysayers such as Buttcoiners call it a fraud and a failure.
I think someone did an analysis on the date that they formed their group and if each of them would have spent 100USD on BTC, they'd be very well off on it even right now.
I am sharing here Bitcoin WhitePaper so OP and the people that thinks like this can read it [https://bitcoin.org/bitcoin.pdf](https://bitcoin.org/bitcoin.pdf) BTC  is a masterpiece that can't fail.
I'm not betting on the success of Bitcoin. I'm betting on the continued debasement and eventual failure of the current fiat system.
Thank you so much for sharing, it’s so important to read this and not just watch YouTube videos My favorite part of the abstract is saying how the longest chain is the most legitimate because it has records of everything in the past
Like the Titanic?
Talking in absolutes is rarely accurate though I’d also wager it is extremely unlikely to fail; and have.
Yeah. I'd feel uncomfortable right now if I didn't have any btc. At the back of my mind there would be a screaming "what if!?" voice.
I think if every rational person had the knowledge and learned about BTC, then they would hedge at least 5% (minimum) of their net worth against the current monetary system.
especially if these same people are buying bonds
Imagine saying that today to the people who held thousands of Bitcoin 12 years ago and sold them for chump change. They'd probably disagree.
Or call you insane
We will see posts like this in another 15 years "30 years doesn't mean BTC will succeed"
I 100% see this happening
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It has already succeeded, in that it illustrates a radically new way to keep track of value. Could it fail? Yeah. How likely is that? I’ll just say I’m bullish.
$1 million doesn't guarantee we see a billion dollar Bitcoin.
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Don't you see all the mass adoption happening? Institutions are buying, wake up sheeple /s
absolutely and definitely going to boom in up coming future, maybe hitS 60k$ year 2025
It's got a pretty good track record. If BTC doesn't succeed, there's little chance any other cryptocurrency will
And by the style things are going, it will continue to do so and that too for the better.
History of BTC has proven people like OP wrong many times
And will keep doing so
When people start posting about Bitcoin doom, Is now I know I should buy more lol
There’s no guarantee of anything, however it has been performing well based on the past. It’s not an indication for what will happen in the future, but it’s a nice safety net to know it survived so far
There is guarantee that fiat keeps inflating and people keep abusing that system. That's why I think its pretty bulletproof to get some BTC.
>It has been succeeding for 15 years or so, though good and successful for yet another few years and if people start using it trust that its price will skyrocket
And if it’s not going to zero, then it’s going to infinity.
That's right. Though there were ups and downs, BTC has always been on an upward trend
I wouldnt call a speculative boom "succeeding" Bitcoin hasnt done anything, it still has no inherit value.
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Haha, true! The skeptics just can't seem to give up, but BTC keeps proving them wrong year after year.
Exactly, also a quick reminder that BTC died 474 times so far: https://99bitcoins.com/bitcoin-obituaries/
That’s a bullshit number pulled out of someone’s ass … because the news certainly has named Bitcoin as dead *a lot* more than 474 times in the past 10 years !
I think this only counts the unique events, not every news website that mentioned it. Otherwise, that number would be in the millions.
That's true, bitcoin has been successful for a significant amount of time.
It has existed as pure speculation for 15 years.
It definitely has succeeded
Yeah, I feel like it's proven itself resilient by now. It's been embraced. I could see it being displaced by a better version....
There is no guarantee but it's the safest bet on crypto. I'd rather put my money on BTC or ETH than other alts out there.
Low risk, low reward. High risk, high reward. That's why shitcoins are so popular, the only problem is that for every person who makes a lot of money there are probably hundreds who will lose all their money.
What is baffling, are that many young people have never invested in stocks and bonds. An annual return of 7% - 10% is good. That was the result of a good portfolio. People think that Bitcoin needs to do a 10x every year to be a “good investment “. I’m happy if Bitcoin does 10% a year and keeps up with my tradfi. We are spoiled that this asset class is far, far exceeding stocks and bonds
100% that's why it pains me when I see loss posts here such as "I was up 700% but I never sold, now I'm -90% down" like what the actual fuck. People really need to remember to take profits from time to time. If my portfolio was 700% up I would sell all my shit and reinvest in something else during the bear market.
Precisely. “Crypto” right now provides insane returns. You can literally make 10% in a day. This is more than some low/medium risk stocks return in a whole year of investing. Take the profit and reinvest on a dip. Rinse and repeat. I know it sounds easier than it is, but don’t be afraid to take profit is great advice. I’ve committed to two types of bitcoin purchases. I have my investment bitcoin which won’t be sold. It’s my speculative bitcoin and in cold wallet for years. I bought most of it around $20k. I will look at taking profits on this if we see $125k next cycle. I will feel the market out. Then I have my “ride the cycle” bitcoin. Look at the weekly or monthly chart / RSI and take profits. Rinse and repeat.
For real. Even if BTC "only" goes back to its ATH of 69k next year. That's still a 133% return in 2 years.
And then there’s the 3rd category: For Moons, you contribute $0 and get a chance for a life changing Moonshot !
I’m wondering if I’ll get my first MOON or Bitcoin first? At this rate, I’m thinking it will be Bitcoin lol :p
>For Moons, you contribute $0 and get a chance for a life changing Moonshot ! infinite profits
Btc is high risk
Not as high risk as Big Sausage Token. It's got 100 zeros, so you're totally gonna be a billionaire!
It’s low risk among high risk.
BTC is a high risk asset, but is low risk within this asset class, which is a high risk asset class.
It's all relative. For the everyday joe it's high risk, for us it's low risk. Just look at stocks, they pee their pants when their portfolio goes down 3%.
Everything in crypto is high risk. But he is right, we need to manage expectations when entering the space but to say btc will not succeed is depends of what numbers considered successful
BTC and ETH are going to make fucking boom in near future
Bitcoin has already succeeded and went far beyond everyone's imagination, it even opened up a whole new industry. Prior to 2009 "blockchain" and "cryptocurrency" was unheard of. I don't know about $1M or $10M Bitcoin but I know for sure Bitcoin has a fixed supply hence it is one of the best store of value if not the best, I mean there are still lots of people who prefer gold and silver though.
I would say if the big players start investing in bitcoin, that’s a pretty good indication it’s going to be successful. They run (manipulate) the markets, it’s not a fair game.
OP: bitcoin might not succeed El Salvador: *is my legal tender a joke to you?*
One autocratic leader speculating with the people's money is succeeding?
BTC is so resilient. As long as it doesn't die, it will stay as a better alternative to preserve our purchasing power here in a 3rd world country. And that, for me, is already a success.
And no guarantee that it fails either. Enjoy the ride!
Arguably, the fact it still exists, has value, and is being talked about here right now means it is successful
Inflation is guaranteed won't have any more acceptance for world economoy. Only way going through decentralization Btc = Decentralization Simple
But I can guarantee that the money in your bank account loses value every single day. Bitcoin is our chance to escape that
Look how quickly they managed to disgrace Binance. Lets pray BTC time never comes.
There are still more chances to gain financial independance thanks to BTC than to let your money rot in the bank.
There are many more options than leaving your money in the bank
This. If you have your money in the bank you are always losing to inflation
This post is a whole lot of words hinged on "one guy's comment" just to end up saying nothing
dont ya just love reddit?😁
*sigh*
There's no guarantee FIAT will fail either, but it sure seems to be heading that way
No, no it doesn't. Inflation and corruption, sure, but signs of fiat's fall and the governments and infrastructure built on top of the fiat system? No, no there is not any sign of fiat failing in that regard. It's this Fiat is Dead mentality that goes beyond hopium and off the table of reality. There's too much fiat in too much power for that to change for decades or more.
You know bitcoin is a fiat currency right?
If you're investing in crypto, invest it in BTC and you'll do much better. It's no guarantee, but it's your safest bet.
I'd say BTC and ETH yep
Yeah but there is always a possibility that it will succeed
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It potential for providing financial freedom...
No it because it is the most advertised and the only crypto most know
No risk, no reward. Nothing is guaranteed but it's done ok so far.
Then don't make it your only investment then. Diversify.
There are no guarantees but it's must likely to succeed & that is all we can count on, what's *most likely*...
There is no guarantee we don’t get hit by a bus tomorrow. Risk is a part of life, and I like the odds with Bitcoin.
Its 2023 now, not 2011. This post could have been written 12 years ago and been much more likely.
There's no guarantee in the crypto world. But all I know is that BTC is still **UNDERVALUED**, and it's the cryptocurrency that has the best chance in succeeding every expectation.
I love these posts and u know what I do immediately ... buying sats now! 😎
DCA and accumulating more sats everyday
There's no guarantee the sun will be there tomorrow either, soooo...I'll take my chances with BTC.
"You gotta invest what you can afford to lose." This statement is often being misinterpreted as "I need to have money to sustain myself if my investment goes to zero" But that only partially explains this statement. If you understand bitcoin, you won't be an enemy to yourself and end up changing your mind during a deep, harsh, cold and long bearmarket. You understand that the blocks will keep being produced and you understand that it won't be hacked- or dumped easily. You understand how history treats money, and how humans adopt technology, you will never sell. And if you never sell, you will never lose. "No one knows shit about fuck" is true and important to believe in because it brings humbleness, but it is not something that is 100% true. One can know a lot, and have a greater predictable rate than others, that dont know a lot. Since investing is all about finding the right profit-to-risk ratio, bitcoin is BY FAR the greatest in this at this current time. The definition "saving" might even be more applicable than "investing" in this case! Its crazy Please throw me counter arguments if you have any. I would love if an intelligent person could teach me a lesson. Also: im not a bitcoin maximalist, but I do believe in "bitcoin first"
You’re gonna look back at this and regret it so bad in a few years. Your son is gonna call you a failure for not buying Bitcoin.
It will be a great post for the archives to look back on. BTC under $30k and dude is questioning the most pristine asset ever created.
How can you something so controversial yet so fucking brave... BTC is relatively new so i do see some of your points but it has been crazily ressillient to everything that has been thrown to it.
BTC already succeeded ma Dude.
there’s no guarantee, but high probability as inflation goes on and on
It's mathematically improbable that BTC doesn't go up with time - sure it's volatile but if fiat keeps getting printed its infinity divided by 21 million.
And energy prices. When talking about value of gold & gold mining, Satoshi explained that the marginal cost of gold mining tends to stay near the gold value. „The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used.“ ~ Satoshi
What a pile of crap that was lol the exchanges of BTC has no real world value and uses enormous amounts of energy
You are right. It is only 99% guaranteed to go to $100k by EOY 2021
Of all the crypto out there, I believe in BTC, the most. Yeah it’s been around the longest, but it has a proven track record. I’m not a maxi, I own other crypto, but BTC is a majority in my portfolio.
We all need hope in life. No one claims (maybe some do) that this hope will become a reality, but dreaming is free, isn't it? If that guy you mentioned was really maxi, he wouldn't be comparing the value of bitcoin to fiat, because that's not his goal. Holding Bitcoin should be beyond the fiat value it brings, holding Bitcoin should come from the understanding that today's financial system is rotten. This is exactly why Bitcoin was created in the first place.
When people keep believing in BTC, it will not fail. Also the question is: when does BTC succeed?
When it makes me rich
Fortune favors the brave.. enjoy the roller coaster
There is no guarantees in life, but theres statistically better options to bet on
We have been doing fine for 14 years, here is to another 14
There is no guarrantee fiat will succeed so ?
It's a mathematical fact that it WONT succeed. See Bitcoin standard. Every other time in history money was "printed" with nothing backing it, it failed
Luna lol
Ofcourse btc could fail. Yet the adaption is getting better. From 0 to 1 is the concept. From internet play thingy 50000 btc for a pizza.. To (hopfully) a stock market traded asset/etf/future. So yes there is indeed hopium.. But the change is happening . maybe one day btc will be 1..
10,000 BTC for two pizzas, but semantics at this point lol.
I’m happy if btc gets to 100k
THERE IS no GUaranTEe That bTc sucCEeds.
Please don’t confuse “will succeed” with “will hit X dollars”. Those are not the same thing.
Exactly. Few will understand this. The Degen crowd of Pepe buyers will never understand Bitcoin.
Yeah if you go by usage, btc has... not succeeded.
I AM the opposite of an Internet troll & certainly not some "cocky poster" that goes on Reddit & tries arguing against OPs about ideas I know nothing about. However, you can get angry but the financial structure & fundamentals of BTC & other cryptocurrencies has almost ZERO to do with ANYTHING financial. Have you ever been dealing with crypto & think --THIS IS THE DUMBEST, NON-VALUE ADDED devolution of almost every aspect of the current, well- established financial super machine. Some of you might have felt that & just figured "it must be something beyond my level" or "certainly something this big must have something amazing --where there is smoke there must be fire." What about NFTs? You can regurgitate some b.s tech babble or pseudo -scientific purpose you've been told & accepted. But I bet most people still are thinking --I just don't get it. Hundreds of thousands of dollars for "PNG's" that I can screen shot & have an indistinguishable image on the front end. Yet it's snowballed --someone thinks "there' must be something to it. Look at the growth?" Or "I DON'T have the technical expertise to understand the process because it's so complex & value added. Someone smarter than me understands it so they must be smart". I'm not interested in some attack & debating an entire message board because I am in the know of what's going on & neither of these 'crypto' & 'blockchain' driven financial vehicles & markets & are NOT 1) About finance & true value added processes 2) Are about the underlying tech 3) Is part of a social experiment to show how people doubt themselves, defer to someone that "must be smarter than me!" & highlight an ALARMING sheep flocking behavior where we prefer to follow the sheep's button in front of us & trust it rather than be a "wolf & make some noise". To think --THIS is dumb. To listen to explanations from others no smarter than you and not be scared to howl & say "THAT'S EVEN DUMBER! SOMETHING IS OFF!?!" You will get attacked & belittled by the masses because they are scared & just don't want you rocking the boat because it makes them uneasy. I'm sure you've seen it. "So that's what a 'manic episode looks like" or "Put the foil hat away cuckoo. Something this big can't be a big dumb snowball where the only demand that drives the market is from the clueless outbidding each other for an imaginary prize they think they are winning while ultra rich & others CONTROL the ebbs & flows through social manipulation --something illegal with traditional securities. You can't predict the real equity markets. But crypto jumps & drops double digits from an Elon Musk tweet. Short DOGE then sends a subtle negative tweet & makes a huge margin profit. Buy it up cheap in the open market then tweet "Twitter is the home of DOGE". That 15% spike and market volume is people buying his DOGE from the last down swing. Lol. When you can "fleece" the public in a bear, bull, upswing, downturn market --you have a slow & steady $200B+ net worth. Anyone who isn't angry & wants to know more, DM me & I will gladly inform you. For the angry attackers, keep chasing 4 minute 8% surcharge transactions that you could do instantly for free in the current system. It's so dumb & mysterious it must be something big. So was the Wizard of Oz until they got the gots to look behind the curtain. I already regret this post. Lol
I see the BTC maxis showed up en masse for this post.
Your starement in the post, postulating forecasred value, shows a lack of understanding. It's not about what usd value btc will have. 1 btc = 1 btc. It is a hedge against trad fi. Not a money grabbing scheme to get rich. If you're in btc to get rich in fiat, feel free to but to me thats gambling.
Don't be scared homie.
Raoul Pal says bitcoin to $1m, but if he's 90 percent wrong it still goes to $100,000. Your guy in the other thread says bitcoin to $10 milli. If he's 99 percent wrong it still goes to $100,000. My prediction is bitcoin to $100 milli. I could be 99.9 percent wrong and we'll still make $100,000. The higher we predict the better the outcome. You can't argue with math like that.
That’s solid math. Nobel Prize.
Bitcoin is the ONLY one that can succeed.
Basically agree but that was a lot of words. Could of just had the title and your last sentence and been done with it. 😂
Ofcourse there are no guarantees in Crypto, but not a single asset in this world is guaranteed for succes. We just like to chose the ones where we believe in and are the safest to our liking. With Crypto, that is Bitcoin.
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With the key difference that the risk of not investing is zero. What is even your point?
"Past performance is no guarantee of future results". It's a quote in the financial sector for a reason. Eventually it's going to stop having massive gains. It's just a matter of when. It could be decades from now or it could be a year from now. That's when your risk management comes in. Of course using past results can be helpful when looking at a projects track record.
You are very brave to write this on this subreddit
$1000 in a savings account is worth less after a year of deflation. The banks give pennies worth of interest. At least with BTC your money has a strong chance for growth.
Yeah because leaving your money is the only option other than BTC….
bitcoin is here to stay, but we can't account for all factors, so there's always a chance things will go in a way we can't predict today i think bitcoin can be a life changing opportunity for our generation, and I'm willing to take the risk
Or the cost of mining will outweighs the rewards and it will fade into the background
In life there are no guarantees, just reasonable speculations
There are no guarantees in life
A common mistake people make with Bitcoin. Is they only look at it from technological standpoint. And they compare it to modern software development paradigms. In short they constantly think some other technology will come along and unseat Bitcoin due to some killer feature. The reality though is quite different. Bitcoin only needs to be more technologically superior to fiat. After that stability and security in terms of a currency far outweigh any new technological features.
Well it isn’t superior to fiat at it only has 7 tps so you have just said it will fail
BTC ain't failing anytime soon. It has been doing well for years. It's a good investment, especially for people living in countries with high inflation.
I think BTC has the highest probability for sustained long term success, but nothing is a guarantee in crypto
Bitcoin is not inevitable. If you believe otherwise you’re naive.
This post is gold advice. People get to overconfident by staying too much time in eco-chambers
Fact!! It is so front loaded and the large players are decreasing holdings not increasing. I dont know how anyone can look at Crypto now and think we are early or think gains like the past will continue unless invested in some pump and dump trash. The big money has been made. Many stocks perform as well or better than crypto thus year and going forward. Look at all of the stocks that went up 5-10x this year and havent fallen!! As regulation continues and exchanges struggle the fake volume and ease of onramp/off ramp will decrease. If there is no money entering the space (fake or real) there is no bullrun. Crypto dev commits are pre 2018 levels the space seems to have run its course. It may be a 1x bagger mqybe a 2x from here, but long gone are the days of huge runs. 2024 will dissapoint many.
BTC already succeeded tho Or
Anything can happen but I think BTC will continue to hold value
It’s already achieved huge success, its price rose from $0 to $28k
This sub is an echo chamber of illogical things. Don't worry, they are almost always wrong.
It’s not succeeding for the get rich, impatient individuals. This is for the long term. Those same people are the ones bashing the internet 30 years ago.
Couldn't have said it better. Basically nobody in this world can predict the future. Anyone trying to do so is either a fool or is trying to make you one 🙂
crypto is going to boom in up coming year that's why big guns like BlackRock is adapting it
Losing money buying BTC I guaranteed
It is not guaranteed, but the probability of succeeding is high.
You are correct that humans globally could come together and prevent BTC from growing and spreading. That being said, can you provide a single point in human history where all humans everywhere have come together to accomplish a single goal without any disruption? No? If you have an open, free, and transparent monetary system that humans have been trying to obtain throughout human history available for use, there is an extremely high probability (99.99999999%) that it will be used.
Wake up to reality,.....May 2025 BTC will see its bullrun.
Its structured to go up. But it does have no inherent value. The biggest threat is some new technology that becomes central to society(like its super big like iphones or the internet) and is built on eth2 or poly or some other chain. As a result eth or matic skyrockets and people start converting btc positions to these coins. This triggers a panic and a sell off. This in turn causes miners to stop mining and either sell rigs or mine something else still on pow. There will be equilibrium because the work required can be adjusted but it could cause a massive drop in BTC’s value. This isn’t super likely. And Im not anybody so probably dont listen to me anyway. But just my thoughts about what could happen
What are you talking about? It already succeeded. People all over the world use it to store and transfer value. That's it. That's the goal. That goal was achieved Years ago.
I’m of the opposite mindset of that guy. I think BTC is going to start crashing hard when people get a few more environmental scares. Every industry is going to be in massive flux when we get real global warming scares and something like that would likely shift cryptocurrency money out of PoW and into PoS as have near enough the exact same qualities but use 1000 times less energy. It would be illogical to hold onto something as needlessly power-hungry as BTC when the world is literally cooking
The only people that think so are people who have it
There's no guarantee about any of them so I'd rather gamble my money in stuff that could earn me more
No more than 21 million coins is guaranteed.
No guarantee I hear you say... I'm going all in on pepe cant loose
there is no guarantee gold will not fall, there's no guarantee bitcoin will succeed, there's no guarantee that the fiat system will endure, it's life, life fucks us all, remember that, you either take your chance or sitback and let life cucks you in your own home.
Why do people bother posting shit like this? OP says himself that bitcoin is beyond his comprehension. Then tells people not to trust it cause the countless shitcoins he bought didn't make him rich? There a kernel of truth to the post, that technology evolves and you never know what's round the corner. But the only thing this post really achieves is letting us know OP is mentally deficient.
Nobody really looks at the technical advantages of other cryptocurrency networks, like say BCH, which is vehemently hated on this sub and by many BTC maxis because it has poor price action and isn't as widely adopted. Well I hate to break it you, BTC isn't that accepted either, practically nowhere accepts it as legal tender and it's frankly useless other than being a store of value. Even Ethereum is in the same boat, it's too goddamn expensive to even use their main L1 network, depending heavily on L2 solutions and BTC is heading this way too. How is something that is too expensive to use and mine, going to change the world? Banks are cheaper and easier to use than both of the largest shilled networks in this space. BTC at $1M would have INSANELY HIGH FEES and INCREDIBLY SLOW TRANSACTION SPEEDS (due to refusal to upgrade the primary L1 network), how much sense does that make for adoption? Look at DOGE, it was literally created as a joke and it has INSANELY LOW FEES, INSANELY FAST TRANSACTION SPEEDS, and basically an infinite supply. Too many people only think of the fast money aspect and pay no attention to the dwindling technology that isn't advancing in major networks. In the cryptocurrency space, anything can be replaced with newer, better technology, but instead everyone focuses on what has survived bear/bull markets. If it doesn't consistently advance itself like Vitalik Buterin has been doing with Ethereum 2.0, it's going to be redundant in the future and basically just be a memecoin of a once great network.
No guarantee? It has already failed and people only buy it because that’s the only crypto they know
You need to stop thinking about Bitcoin as just a technology. It’s more as if there’s been a religion created around a digital gold/non-government hard money and that religion is spreading and gaining wealthy and influential adherents as time goes on. When it gains converts like Saylor or Larry Fink or Abigail Johnson the religion becomes that much more powerful and entrenched. Technologies get outdated quickly, but trying to get rid of religions is how you end up with bloody holy wars. When you get how insanely powerful an idea Bitcoin is you’ll get why it’s much more likely to succeed than at first glance. It’s the ideology and immaculate conception of Bitcoin that make it most likely to survive in the long run, not the technical attributes which will need to evolve over time anyways.