Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Lucius on June 23, 2024, 04:30:10 PM
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It is interesting to look at what people thought about Bitcoin some ten years ago and compare it with what they think today. In the particular video from 2013, some participants in the conversation were obviously very worried about the possibility of hacking Bitcoin itself - while others tried to explain to them that such a possibility is very small, which is quite clear to anyone who has any idea how complicated the cryptography that powers BTC is.
Looking back and comparing with today, can we conclude that not much has changed in how some people perceive Bitcoin?
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There are some people you will never be able to convince, no matter how strong your evidence is or how much you explain it to them. So, no matter what some people think, we should not care about them. Think about yourself: at one point, you were not where you are today, and some people never believed in you, but you are here today. Bitcoin will never be able to convince everyone. It does not need to convince anyone. There will always be people who will take it negatively. Everything has two sides, a negative and a positive. So does Bitcoin.
I never relied on others' opinions about how good or bad could be the Bitcoin. I have used it and experienced the movement, and after using Bitcoin for a couple of years, I strongly feel it has potential. If my wallets get hacked, it's my fault. I cannot blame Bitcoin for that.
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I cannot speak for everyone, but I am speaking about the environment around me and my local community. There are many people here who still do not understand what Bitcoin is and still think that it is central and that there are those who control it secretly.
Many people, due to their ignorance of Bitcoin, the way it is formed, and the way it works, think that there is someone issuing Bitcoin. What is funny is that some of them believe that Bitcoin was created to control the world by making people believe that it is a decentralized currency. >:(
There are a lot of misconceptions about Bitcoin, but overall I think we are making good progress as time goes on and knowledge about Bitcoin spreads.
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While you made mentioned of 10 years ago and the changes, I am a testimony that a lot has really changed in the existence of Bitcoin because years back I heard of Bitcoin, I was also in doubt that it could be real as it was brought to my acknowledgement.
A lot of people in my region has also been in doubt of Bitcoin but right today there is a wide spread of Bitcoin adoptors including me and others.
So that typically states that there had been a big margin of changes within Bitcoin existence and the masses.
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There are some people you will never be able to convince, no matter how strong your evidence is or how much you explain it to them. So, no matter what some people think, we should not care about them. Think about yourself: at one point, you were not where you are today, and some people never believed in you, but you are here today. Bitcoin will never be able to convince everyone. It does not need to convince anyone. There will always be people who will take it negatively. Everything has two sides, a negative and a positive. So does Bitcoin.
I never relied on others' opinions about how good or bad could be the Bitcoin. I have used it and experienced the movement, and after using Bitcoin for a couple of years, I strongly feel it has potential. If my wallets get hacked, it's my fault. I cannot blame Bitcoin for that.
I prefer numbers because they can speak volumes for us. The Bitcoin mining network is more powerful than hundreds of top computers worldwide, making it virtually impossible for an individual or organization to launch a network attack on Bitcoin. The only risk is when the top BTC mining companies collaborate to manipulate the network, which is also unlikely because they can make more profit by playing by the rules of the protocol.
We have entered a new era of BTC: information about BTC is everywhere on the internet, and everyone can easily access it. We don't need to convince those who don't like BTC or enlighten them about a new asset class. If they don't want to understand, they don't deserve to understand BTC.
- The bitcoin network is now more powerful than the top 500 supercomputers, combined (https://qz.com/84056/the-bitcoin-network-is-now-more-powerful-than-the-top-500-supercomputers-combined)
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We have entered a new era of BTC: information about BTC is everywhere on the internet, and everyone can easily access it. We don't need to convince those who don't like BTC or enlighten them about a new asset class. If they don't want to understand, they don't deserve to understand BTC.
But unfortunately, we won't be able to convince them no matter what we say. They will always throw a counter question and ask what if this happens, and that happens. I want to rephrase your word and it should be If they don't want to understand, they don't deserve the profit of Bitcoin. No one should blame an asset because they cannot manage it or do not understand it.
If I do not understand the technology behind the Airplane, I will always be scared of it and say it will crash and I don't want to die in a plan crash. Eventually, I will end up flying in a plane when it will be necessary for me. So, I don't think anybody wants to convince me by saying it's safe enough. We all know that accident happens. Our wallets may get drained if we use them carelessly. But, we shouldn't blame Bitcoin for that.
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A lot of people in my region has also been in doubt of Bitcoin but right today there is a wide spread of Bitcoin adoptors including me and others.
So that typically states that there had been a big margin of changes within Bitcoin existence and the masses.
Maybe in that case, perception has something to do with where someone lives, because I haven't noticed that people around me have changed their opinion about Bitcoin too much - except that some are very envious of those who have secured a better future for their families by investing in BTC.
If we look globally, changes have definitely happened, but in terms of percentages, I don't believe that today we have more than 5% of the world's population who own BTC, and in the context of the fact that it has existed since 2009, for me personally it is not too great success.
Maybe it will take another 15 years for some significant changes to happen, and by then Bitcoin will be extremely valuable or maybe worth almost nothing - I don't see any middle option.
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While you made mentioned of 10 years ago and the changes, I am a testimony that a lot has really changed in the existence of Bitcoin because years back I heard of Bitcoin, I was also in doubt that it could be real as it was brought to my acknowledgement.
A lot of people in my region has also been in doubt of Bitcoin but right today there is a wide spread of Bitcoin adoptors including me and others.
So that typically states that there had been a big margin of changes within Bitcoin existence and the masses.
The only change I have noticed aside from numbers or it's value that keeps on increasing is that adoption is much more quick these days compared to the doubtful or hesitant years back then. Bitcoin as payment also changed but I think with the fluctuations of fees it will change again as transition as masses treat Bitcoin more of an investment rather than for payment purposes.
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While you made mentioned of 10 years ago and the changes, I am a testimony that a lot has really changed in the existence of Bitcoin because years back I heard of Bitcoin, I was also in doubt that it could be real as it was brought to my acknowledgement.
A lot of people in my region has also been in doubt of Bitcoin but right today there is a wide spread of Bitcoin adoptors including me and others.
So that typically states that there had been a big margin of changes within Bitcoin existence and the masses.
Perhaps you are talking about adoption. But if you watch the video itself, yeah pretty much the same as where we are, it is being compared to gold, used by criminals, not universally accepted by online stores, the difficult to mine Bitcoin and regulations. So 11 years later, we are still in this kind of perception. Not many nations are into it and today, it is only El Salvador that accepted it as legal tender.
But in terms of gaining traction from masses, yeah, it could be, we don't have the numbers. However, I think we are slowly getting into that nevertheless it might take years or even another decade for adoption to come.
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The only change I have noticed aside from numbers or it's value that keeps on increasing is that adoption is much more quick these days compared to the doubtful or hesitant years back then. Bitcoin as payment also changed but I think with the fluctuations of fees it will change again as transition as masses treat Bitcoin more of an investment rather than for payment purposes.
I agree with that as well. People used to use Bitcoin as a payment method. But, the use case has been changing slowly as people started to understand that Bitcoin gives a good return on investment in the long run. Another thing is people stopped using Bitcoin as a payment method because of the ridiculous transaction fees. I initially hated the BRC-20 things which congested the mempool. But I understood one thing it will help to build an ecosystem like Ethereum. I hope the fees will continue to be normal.
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Comparing how people saw Bitcoin then and now, the difference is quite large and obvious for anyone to know that Bitcoin is a genuine network. Many of those critics who once advice other not to by, are now into Bitcoin investment. I heard the speaker saying Bitcoin isn't rear LOL, That was in the initial stage, and considering the amount of Bitcoins that was in circulation then, it was still scarce. Bitcoin was indeed created for all but not everyone has accepted or is willing to accept Bitcoin, though the government is also a barrier to some persons that wishes to accept Bitcoin but the restriction keeps them from accessing Bitcoin.
I agree with that as well. People used to use Bitcoin as a payment method. But, the use case has been changing slowly as people started to understand that Bitcoin gives a good return on investment in the long run. Another thing is people stopped using Bitcoin as a payment method because of the ridiculous transaction fees. I initially hated the BRC-20 things which congested the mempool. But I understood one thing it will help to build an ecosystem like Ethereum. I hope the fees will continue to be normal.
I doubt that the fees will continue to be normal. It certain that when mining has ended and new Bitcoin are not being generated into the system again, miners will only get rewarded from the transaction fee, and at that stage the transaction fees will increase drastically, but before then I believe the reduction of the mining reward by the halving is likely to trigger the increase of transaction fee.
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Another thing is people stopped using Bitcoin as a payment method because of the ridiculous transaction fees. I initially hated the BRC-20 things which congested the mempool. But I understood one thing it will help to build an ecosystem like Ethereum. I hope the fees will continue to be normal.
Yes, it really doesn't make sense when the network is very congested and transaction fees soar very high,
one of which is due to the surge in BRC20 and Ordinal network transactions.
But this is a new stage for bitcoin, developers will certainly find out how the surge in transactions does not cause too extreme cost increases.
At least, now it only happens for a short time, if the cost is expensive, then postpone it until the cost drops back to normal costs.
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The only change I have noticed aside from numbers or it's value that keeps on increasing is that adoption is much more quick these days compared to the doubtful or hesitant years back then. Bitcoin as payment also changed but I think with the fluctuations of fees it will change again as transition as masses treat Bitcoin more of an investment rather than for payment purposes.
That's true because in terms of acceptance we cannot compare those days when people were so skeptical about Bitcoin which makes the acceptance to be more difficult for people to come into but as time goes by that's how people are learning about Bitcoin and the potential it has and from there they began to see reasons why they need to invest on Bitcoin, though it may not still be acceptable by everyone now but with time there would be a serious influx on Bitcoin.
However sometimes I can't help but wonder how far Bitcoin price will be in the future because considering how it was years ago and now you will have the insight that years to come it would be shocking and surprising for everybody because the more the adoption of Bitcoin that's actually the more is getting more potential.
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The hacking was pretty common attack but I didn't know they also use counterfeit back in the day ;D
There are more videos that I always find it funny whenever I see them on social media - $100 vs. 1 BTC
The street interview was done 2 years ago but it probably wouldn't change that much if they ask random people today. Like one comment in the video says, a lot of people still have no clue.
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People's perception on Bitcoin has changed a lot within the 10 years timeframe as Bitcoin is now an accepted asset - traded a lot all over the world just like gold, stocks and forex. Right now, no one can anymore say that Bitcoin is a scam and will just die anytime. Bitcoin has survived the test of time and surely will be here to stay for the next many decades if not forever (if there is such a thing!). While there can still be people who might harbor some misinformed ideas on Bitcoin, I am sure their numbers are slowly fading and we should not expect all people to like Bitcoin anyway just like not all are into investing with gold and just like the fact that not all have their own cars. Even the idea that Bitcoin is bad for the environment is also evolving as there are now many mining operations using green and sustainable power sources. Right now, we have one country that adopted Bitcoin as its national currency and we have the Wall Street via ETFs recognizing the value of Bitcoin. In the next 10 years, for sure there will be more positive developments for Bitcoin that can catapult it as the very symbol of cryptocurrency all over the world.
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Looking back and comparing with today, can we conclude that not much has changed in how some people perceive Bitcoin?
In earlier years, Bitcoin was less mature than now, in 2024, 15 years since the Bitcoin Genesis block.
People have many fearful factors to uncertain think of Bitcoin future in 2009, 2010 or even after the first cycle and first or second Bitcoin halvings. Now, it's different significantly as Bitcoin has been tested by the governments, market and many communities globally.
Now, it's harder to see people say things like "Bitcoin is dead or Bitcoin will die". There will still be people who make such non sense callings but we will see less and less.
https://99bitcoins.com/bitcoin-obituaries/
https://buybitcoinworldwide.com/bitcoin-is-dead/
In the past, we did not have projects to debunk Bitcoin fud but with time, there are more projects to debunk Bitcoin fud from community.
https://endthefud.org/
https://bitcoincleanup.com/
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The street interview was done 2 years ago but it probably wouldn't change that much if they ask random people today. Like one comment in the video says, a lot of people still have no clue.
I agree with that, because if you ask 100 random people on the street to say something about BTC, most of them won't be able to say anything or will say something very general that they heard in the media, and maybe only 5% will give some kind of meaningful answer, while 1 or 2 people may know a little more in terms of knowing the difference between a private key and a public BTC address, differences in wallets and the like.
@tranthidung, maybe people don't say "BTC is dead" so much nowadays, but they still say that it will happen sooner or later. Even if you tell them that it has existed for 15 years, it will not be enough to dissuade them, because conspiracy theories are always present among people, and it is easy to convince them of anything if they live in ignorance.
I agree that we need more people (projects) who will break myths and defend BTC from all the lies that have surrounded us for years. The people from COPA who dared to publicly attack Faketoshi and prove that he is just a scammer are a great example of how this can be done.
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There are some people you will never be able to convince, no matter how strong your evidence is or how much you explain it to them. So, no matter what some people think, we should not care about them. Think about yourself: at one point, you were not where you are today, and some people never believed in you, but you are here today. Bitcoin will never be able to convince everyone. It does not need to convince anyone. There will always be people who will take it negatively. Everything has two sides, a negative and a positive. So does Bitcoin.
You are right, all five fingers are not equal and this world is full of diversity. Means every human being or living organism is different from one another with different mindsets and purposes. Back then people must be taking BTC as something fake, even in the current era people take it as fake they think how digital money can exist if its not backed by real money. But the technology has changes the mindsets of new people means most of the GenZ and people born after that.
Are in to technology from the very start, they know the potential of technology and internet, they know if people are adopting BTC it will work out otherwise not. So trend is what most of the people follow right now in the world and even the millennials has also understand this behaviour. Overall the point is BTC is making its place in the heart of people by itself. We don't have to convince anyone to invest or adopt BTC.
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Looking back and comparing with today, can we conclude that not much has changed in how some people perceive Bitcoin?
I think a lot has changed since that time. For example, not so many people were aware of cryptography and cryptocurrency. They did not think digital money could exist and the whole world would welcome it. They were hearing daily news of hacks shared on Facebook and other peak social media platforms of that time, which helped to spread a lot of negative news against BTC.
But now, that people are educated, they first confirm the news, do their own research, and make their own decisions. People with learning mindsets are the ones who can see the potential of BTC, and we have BTC ETF approved as well while back in the past we didn't have that.
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Looking back and comparing with today, can we conclude that not much has changed in how some people perceive Bitcoin?
Not much has really changed because there are still people who still hold these opinions about Bitcoin and unfortunately I can say that these people are under the influence of those people who had those opinions at the beginning stages of Bitcoin and have refused to really get the proper information about it as to have a change of heart as concern their opinion. Funny enough some of these people may have come across the proper information but because they are obstinate they have refused to change their opinions on Bitcoin, there is not much you can do for those people other than to leave them and focus on your own life.
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Looking back and comparing with today, can we conclude that not much has changed in how some people perceive Bitcoin?
Not much has really changed because there are still people who still hold these opinions about Bitcoin and unfortunately I can say that these people are under the influence of those people who had those opinions at the beginning stages of Bitcoin and have refused to really get the proper information about it as to have a change of heart as concern their opinion. Funny enough some of these people may have come across the proper information but because they are obstinate they have refused to change their opinions on Bitcoin, there is not much you can do for those people other than to leave them and focus on your own life.
That's usually the case of a new technology, there are going to be so called experts that will bashed and condemned it, we've seen in throughout our history and the last technology that got this kind of perception is the Internet. But look at where it is right now, everyone is dependent on it years later. And that could be true for Bitcoin as in it's infancy and we are still very young 10+ and we still this kind of attacks. Nevertheless, we are here to stay and I don't think that those who criticized it knows what Bitcoin is or the technology behind. While there are new people who got the right information and now enjoying it as a asset to be traded and making good money and so is the rest of other cryptocurrencies.
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@Jating, it's true that people always attack something they don't understand, but I think that today there are a lot more people who attack BTC for a completely different reason. In fact, the two main reasons would be that the perception has been created in the public for years that BTC is something that is mainly used by criminals and that it significantly contributes to the pollution of the environment (both of which have been proven many times to be untrue) - and the second reason why many people speak badly about BTC today is a simple envy that they were not smart enough to invest on time.
When we know that these agendas are persistently spread by the largest mainstream media in the world, then we should not be surprised that even after 15 years, Bitcoin still has a negative connotation with at least 80% of the people you ask about it.