Why all the Bitcoin FUD?

in #bitcoin2 years ago (edited)

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It's not unusual for FUDsters to be wrong - they've been doing it for 10 years now.

There's basically 3 reasons people trash Bitcoin...

  1. They didn't know what they were doing, they bought in high to ride the wave of mass appeal and sold low during an adjustment.

  2. They never developed the guts to get in the first place and they're stone-cold jealous of everyone's success.

  3. They're using the human instinct to pay attention to doom & gloom so they can market some bogus service, product, referral program, or whatever they're scamming you with this week.

Since the beginning of the year Bitcoin has gone through 3 major adjustments...

a) There was one in July when Bitcoin lost about 40% of it's value.
b) There was another one during the depressing month of September.
c) We just lived through another one in the first part of November.

If Bitcoin had gone straight up and not adjusted at all - there would be reason for concern and we'd be somewhere around 20x-25x growth, but that's not the case and we've had 8x growth <====THAT is far from a bubble.

With less than 1% of the adult American population even knowing what Bitcoin and the crypto-market is.... there's a massive, untapped market that will do nothing nothing but funnel into Bitcoin. These new people don't ask about Pizzacoin or any other useless sleazy, alt-coin. They all want to know about Bitcoin.

Bitcoin is still in its infancy and it WILL go through growing pains for many more years, but we should start calling out the people who spread doom and gloom (Fear, Uncertainty, doubt) and exposing them for who and what they are. The newbies often buy-into their shit and get burned while missing golden opportunities and THAT taints the entire market and makes us all look like scammers.

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Thanks again for the crypto currency info. Still a newb on the path but really like where its going.