Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through “Fear, Uncertainty, and Doubt” or what we Bitcoiners have nicknamed “FUD.” Most of these are completely unsubstantiated, but annoying persist as negative narratives Bitcoin must fight against.
the first open source revolution turned the entire technology world upside down. the next open source revolution will do the same with monetary systems and finance.
Bitcoin is in a bubble, an anti-bubble lol one of the most common points of confusion I hear is "How can something I can't touch and hold have value?" interested to hear what your response to this would be? I tend to bring up the fact you can't touch Facebook, or the digital dollars in your bank account, I mean really people need to understand what money is to begin with before they can truely understand the value of Bitcoin, education is needed on a mass scale, you're doing a great job
Excellent piece, destroy that FUD! I still remember all the dumb things about BTC I believed back in 2017, like that it was too slow to compete with other blockchains. I think you have a typo in the Tether section, I believe you mean to say "Why aren't the FUDsters worried about USDC?"
I must admit I only read the first bits but that's as much as I could really be bothered to read.
First, gold standard is not intrinsic value and never was, T-Bills are. Also I have only seen once someone compare tulips to BTC, I think it is a stupid comparison, however, it does also explain what happens in a market that moves too fast, and does explain what's currently happening in the charts for BTC very well (and ignoring the story is why traders are still losing money now), but I should be clear about this, BTC are not tulips and I have only seen one person actually compare it to such.
Second, I am unsure where you got that quote for FATF but they have already done an extensive report of widespread retail and institutional abuse within cryptocurrencies https://www.fatf-gafi.org/documents/documents/virtual-currency-definitions-aml-cft-risk.html , cryptocurrencies in general are a great way to move money without having to put all your fingerprints all over it, hence why terrorist groups (and state actors) like Al Quds use it. I am not saying that fiat does not suffer issues, it just sounds like you are trying to downplay the issues cryptocurrencies suffer.
I have been trading BTC for about 2 years now, and never noticed this tether story until just now, on top it has fully filed court papers etc etc. Not only that but it was easy to see this time around that institutional investors were buying up coins at 10,000 per day, of course they generated artificial demand that made the price suddenly turn on the predictions of many BTC traders who earned a lot of money the last bull run (that was actually created by three whales moving money), who said BTC was still due for a bear run yet.
Hi Dan, permission to translate it into Arabic? will be published on bitcoinarabic.org
Please do!
Arabic out: https://bitcoinarabic.org/bitcoin-fear-danheld/
Thanks Dan for being awesome and speaking the truth! Love you and all Bitcoiners.
To the moon!
the first open source revolution turned the entire technology world upside down. the next open source revolution will do the same with monetary systems and finance.
That's what Bitcoin is doing
Love the information Dan. What do you think about Puru Saxena’s criticism on Twitter?
Haven't seen it!
Excellent article, Dan! One that should be translated to many other languages, I'd suggest!
I agree! If you'd like to do it I'd be happy to give permission for you to post it in your own site
Great article.
Thanks for this great newsletter
Thank you!
Bitcoin is in a bubble, an anti-bubble lol one of the most common points of confusion I hear is "How can something I can't touch and hold have value?" interested to hear what your response to this would be? I tend to bring up the fact you can't touch Facebook, or the digital dollars in your bank account, I mean really people need to understand what money is to begin with before they can truely understand the value of Bitcoin, education is needed on a mass scale, you're doing a great job
Excellent piece, destroy that FUD! I still remember all the dumb things about BTC I believed back in 2017, like that it was too slow to compete with other blockchains. I think you have a typo in the Tether section, I believe you mean to say "Why aren't the FUDsters worried about USDC?"
The Netherlands still make billions with tulips. Even that bubble burst to leave s new industry.
I must admit I only read the first bits but that's as much as I could really be bothered to read.
First, gold standard is not intrinsic value and never was, T-Bills are. Also I have only seen once someone compare tulips to BTC, I think it is a stupid comparison, however, it does also explain what happens in a market that moves too fast, and does explain what's currently happening in the charts for BTC very well (and ignoring the story is why traders are still losing money now), but I should be clear about this, BTC are not tulips and I have only seen one person actually compare it to such.
Second, I am unsure where you got that quote for FATF but they have already done an extensive report of widespread retail and institutional abuse within cryptocurrencies https://www.fatf-gafi.org/documents/documents/virtual-currency-definitions-aml-cft-risk.html , cryptocurrencies in general are a great way to move money without having to put all your fingerprints all over it, hence why terrorist groups (and state actors) like Al Quds use it. I am not saying that fiat does not suffer issues, it just sounds like you are trying to downplay the issues cryptocurrencies suffer.
I have been trading BTC for about 2 years now, and never noticed this tether story until just now, on top it has fully filed court papers etc etc. Not only that but it was easy to see this time around that institutional investors were buying up coins at 10,000 per day, of course they generated artificial demand that made the price suddenly turn on the predictions of many BTC traders who earned a lot of money the last bull run (that was actually created by three whales moving money), who said BTC was still due for a bear run yet.
Hi, can I translate it into Chinese and publish it on Weibo.com(Chinese version of Twitter)? I will leave the link to your blog and Twitter.