Quote from: smyslov on December 17, 2019, 12:00:14 PM

After ten years and we still see people think Bitcoin will be over, I don't know how they are analyzing the situation I know OP is a newbie, but he should do a research and check if Bitcoin is really over, I hate it when people posted that Bitcoin has major flaws then go on to post a new project or coin, just promote your coin and don't create FUDS about Bitcoin.

There comes a point though when Bitcoin will reach it's pinnacle, I'm not saying we're there yet, I'm not saying Bitcoin is done, what I am saying is that, even if it's not in our lifetime, Bitcoin wont go up and up and up in value, certainly not at the rate it has been anyway.

I think there will come a time when it will steady out and any gains and or drop will be much smaller, not sure when this will happen but one day it is inevitable.

A big issue is that so many people got into BTC to make money, it was the early adopters who got into it for the tech and not many of them knew BTC would be as valuable as it is today. Modern adopters, over the past couple of years, got involved for the gains and as they've seen gains it's spread via word of mouth and more and more people have got involved.

There comes a point when that's going to die off as well, especially those who have got in over the past 12 months it's been a tricky ride. I hate to go against trends as it's shown to be unwise in the past but crypto is not like traditional markets as it's knew technology.

I actually think come this halving, it wont gain as much as people thought or hoped for or as much as previous years, even if it does it will be temporary because of the hype leading up to to that point a month or so before, FOMO may drive the price up, if it drives it up high enough it may have the potential to keep the momentum going for awhile, get more word of mouth and media attention to drive new people in and I may be wrong and that able to give it a new breath of life for awhile.

The issue is, I think Bitcoin is so massively different now than what it was when it first started, Bitcoin was never a store of value in the early day, people were using it as peer to peer electronic cash, since then it's become a store of value asset, a digital version of gold. Fees and confirmation times have been an issue for awhile it's not returned to the level of peer to peer cash for awhile now, people use BTC as their store of value and other crypto as their payment method for sending fast, cheap payments.

The problem is people have gold because it holds it's value, BTC being so volatile if it keeps dropping and doesn't keep the momentum going from it's gains, it's destined to not hold it's value. FOMO of price hikes keeps it going up at the minute, when it gains a little people think it may rocket and invest more, as they don't want to miss out and it drives the price up, people then realise it's not going up as fast as they want or the hype/momentum dies off and as a result the price drops.

In short, what I'm trying to say is that Bitcoin did so well when it came out because people were passionate about the tech, it was unique, nothing else on the market like it and it solved a problem and had a purpose, that's what brought it value and gained real ORGANIC traction, now Bitcoin has moved to a store of value where it was never really supposed to be and has a new purpose, there's coins out there doing what Bitcoin initially set out to do better and have improved upon that initial tech. I don't believe BTC has what it takes to keep going but I accept I could be wrong and people who have usually bet against BTC have ended up looking very silly. I just feel the growth we do so from time to time now, isn't really happening organically and isn't happening for the right reasons.

Like I said, despite this opinion, even if price action is being done for the wrong reasons and out of FOMO, that alone can still keep pushing BTC up and up and up for the foreseeable future, I just think there's a limit and there's only so far that can take you before it eventually comes to an end and stops. Only true, innovative, radical, useful tech can drive organic growth and sadly, I feel Bitcoin has lost it's way and isn't really any of those things anymore.