Quote from: Webetcoins on November 29, 2024, 03:52:24 PM

If you trust wrong people then yeah they will promote it that way, but that means you are just hanging out with the wrong crowd and getting that kind of vibe from them, just don't do that and you will be fine in the end.

That you can do that personally is of course completely okay. The problem is instead that the Bitcoin community cannot trust that everybody "does their homework" and researches Bitcoin's real character and its risks by their own initiative.

I think the community should be a bit bolder in educating newbies, that's my point. Individuals entering the Bitcoin world may have little or no understanding about Bitcoin.

If the community doesn't do that, then we could hit a ceiling for price and adoption earlier than some people may think. I think "crypto-affine" people have all already invested. If Bitcoin wants to continue to grow, then it must reach out to other groups. And if we only rely on institutional investors, then we're basically trusting in a ponzi ("we buy because greater fools will buy too").

If Bitcoin doesn't reach a state where it circulates among a large amount of people and businesses, its long term bull market will come to an end eventually. And while Bitcoin won't die, the first bearish phase after this top, which will last for more than a year, could become really hard for many hodlers.