Post
Topic
Board Bitcoin Discussion
Re: Silk Road Bitcoin Wallet Activates Again, Huge Dump Anticipated by the Community
by
bob123
on 31/08/2018, 10:03:43 UTC
Of course for speculators it could be seen as scary scary to see such big amounts of BTC been moved around, but isn't Bitcoin supposed to be a currency, ie money that people should freely move around? It is paradoxical that this is creating fear in the community instead of joy Smiley

Unfortunately, bitcoin (or any other crypto) is not a mean for payments for most people.
It is more just a tool to get rich quick. The majority regards bitcoin as a speculative investment, instead of a currency.

The true price (reflecting the real value) probably will only be reached once people start to use BTC as it is supposed to be. As a currency.
Whether it will be via LN, on-chain or any other additional layer doesn't matter.
The most important factor which thrives the price up is adoption.

And while people should be happy to see a lot of (legit) transactions happening, most of them are scared once larger amounts are moved, because they could be used to 'dump' the market.
People are more focused on short term trades than long term ones, unfortunately.