“It’s too late for Bitcoin”.... Or so people keep telling me by nanzo-scoop

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· @nanzo-scoop ·
$156.07
“It’s too late for Bitcoin”.... Or so people keep telling me
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![bitcoin.png](https://steemitimages.com/DQmTRXBgQ4UymMHJpwQDk2VcAeTkTBHoLvLFpK8NPKT5uod/bitcoin.png)
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# Chatting heads

I’ve been to a number of social gatherings recently and almost inevitably the subject of Bitcoin and cryptocurrency comes up. On more than one occasion I’ve heard the same phase rattled out:

> # It’s too late for Bitcoin

I’ve heard it enough times that I know immediately what the reference is to. It’s a feeling that it’s too late to invest in Bitcoin because the price has already hit astronomically levels. Thus the “It’s too late for Bitcoin” rhetoric is often followed by other sound bites like:

> # You had to have got into Bitcoin early, there is no point getting involved now.

Some go further…

> # It’s a ponzi scheme… what generated out of thin air?  It’s created out of nothing how can it have value?

# Part-time Experts

At this point I do not bother arguing. On the contrary. I’ve been involved in cryptocurrency for four years now however I’m still open to being wrong about Cryptocurrency. Maybe the people I’m meeting have an insight into the space that I have missed. So I ask;

> # You sound knowledgeable; you must have done a fair bit of research into Bitcoin?

To which without fail they become squirmish. It turns out they only have limited exposure to Cryptocurrency. Then I suggest:

> # Maybe your view of Bitcoin is more down to a lack of understanding of what it is than anything else?

The conversation usually dies off at that point.

# Cannot convince the un-convincible

I’ve given up explaining that bitcoin and blockchain technology is potentially a disruptive technology etc… and as such no-one can accurately determine it’s true valuation. The fact is I have no real interest in convincing people that they should buy Bitcoin.

If you're are not using Bitcoin or don't see it's investment potential, you shouldn’t buy it, simple.

However if you haven't bothered to look into Bitcoin and cryptocurrency beyond mainstream headlines and news-bites; by all means have an opinion however don't expect people who have taken the time to understand it to take you seriously.

# No-one has ever been knowingly 'early'

It is easy to disengage with trying to understand Bitcoin when the valuation appears uncomfortably high. However the fact is however there has never been a comfortable time to buy bitcoin. There has never been a time that was universally seen as “early” to buy bitcoin.

I remember when Bitcoin first came to my attention in late 2013. The price had hit $1000. It then dropped substantially from that high. After the Mt Gox collapse in February 2014, the price fell to around $200 at one point. With hindsight everyone should have ploughed into Bitcoin. However the sentiment at the time was the opposite. It felt as if it was too late for Bitcoin. It felt like the biggest risk in the world. I know of many 'real' early investors that left the scene after the Mt Gox collapsed; at the time they thought they got out too late and at the time such a view was completely understandable. It genuinely felt like Bitcoin might end up a failed experiment due to the failure of it’s biggest (by far) Exchange. 

# Divergence makes Markets

Right now the Bitcoin experiment is as alive and vibrant as it has ever been. The wider Cryptocurrency experiment even more so. However it there isn’t a Cryptocurrency where you’d get uniform agreement that ‘now’ is the right time. It is the nature of the free market that there is a divergence of opinion. Else you wouldn’t have sellers, only buyers (or vice versa).

# Just tell should I invest dammit!

> # So is it too late to buy Bitcoin? 

I believe the answer is more nuanced.  For some there was never the right time to buy Bitcoin. It was (and is) way too speculative for them to put money into. They will only understand Bitcoin if or when it has already disrupted the status quo. At that point it will likely be less about ‘investing’ and more about using Bitcoin (or some other Cryptocurrency) in their day-to-day life. In much the same way as most people that use Google or Amazon haven’t invested a penny in it. That is absolutely fine. Not everyone needs to be an investor; even if the opportunity is open to all.

For others, there is never a wrong time to buy Bitcoin. They see the potential of Bitcoin now and will not stop investing until either the potential is realised or the experiment fails.

Then you have people that fit in the shade of grey between those two extremes, with there being a myriad of reason why people in the middle invest in (or speculate on) Bitcoin. 

Wherever you sit and whatever you think the outcome may be; know that one this is true. This is just the beginning of the journey. I for one will be enjoying the journey; probably as much if not more than reaching the final destination.
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vote details (394)
@steemian007 ·
$0.52
I agree with you , this is only the beginning . There is a purpose for which HODL term was created . I am Hodling .
👍  
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@brettcalloway ·
$1.20
It's too late for low prices!! Lol
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@taskmaster4450 ·
$1.92
I like to ask people "how much is the internet worth"?

Of course they have no idea.  Then I mention that Bitcoin (and other cryptocurrencies) are nothing more than networks, like the Internet.

Do you think the Internet was made out of nothing and is a ponzi scheme?

25 years ago, people thought that....look at what they missed out on.

But you are right, it is foolish to try and convince the unconvincable.
👍  ,
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@nanzo-scoop ·
So true. If the internet had a financial incentive structure baked into it's protocol, it would be impossible to imagine just how much it would be worth today.
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@austinebizzy ·
$0.52
Its never too late for anything cryptocurrency and i can assure you that this is the best time to invest into bitcoin and wait patiently for the reaping time. Government policies fought bitcoin existence and for sure its down so badly, but not too late to rise. Bitcoin will regain momentum and when it does, peoples lost hope will rise again.
👍  
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@soufianechakrouf ·
$0.50
Buy point was when BTC touch 6.5K $ now as you said it's too late to buy , sell time is coming BTC start rising
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@profchydon ·
$0.54
> It’s a ponzi scheme… what generated out of thin air? It’s created out of nothing how can it have value?

I'm not a crypto expert and haven't been in it for too long but i'm of the opinion that bitcoin has no true value. Its no damn ponzi and its never late investing in bitcoin, i'm just been skeptical about what bitcoin offers that most others do not and even some others offer more. But it doesn't make bitcoin less of what it is.

I hope to learn
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@imaverick ·
$1.21
The "true" value of Bitcoin is a peer to peer cash as well as a store of value that can be transferred in minutes across borders without being controlled by any one person or organisation.

But other cryptocurrencies can do that right? Not really, most others are not yet decentralised, and crucially are not nearly as widely adopted.
👍  
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@joshuaedoja ·
$0.54
in my opion i think its not too late to invest cos now is the time at which bitcoin can be bought with relative ease. Cryptocurencies fluctuates most times,and thats what makes investment into it interesting. cryptocurrency incestment is not for fragile minds. looking at the history like you@nanzo-scoop have brought out in this post, it is evident that even though bitcoin was to fall to as low as 200$ per bitcoin it doesnt still imply its end . a fall in bitcoin to me only signal a good e to invest.
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@adetorrent ·
$1.21
We're are living in the zoomed-in part of the graph. In the future with more data we will be looking at the zoomed-out graph and be like "ahhhh growth is all relative"
👍  
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@nanzo-scoop ·
Very true. It is crazy how much store is being placed on the activities of the last 12 months. Only in another 10 or 20 years will we likely see its true significance.
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@rupok ·
$0.02
Now it's a complicated story.If you ask me that is it right time to invest in bit coin i cant answer to your question in one word.Because no one knows the limit.But if you analyze all the happenings then i think bit coin still has got some chance to go up.Because now a days it has started to get recognized by some big  countries.It may help bit coin to improve some more.But in this sort of situation you cant guarantee anything.Thank's for the post.@resteemed
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@desmonddesk ·
$0.52
Early investors in bitcoin will keep investing as the reap the reward already. But is is somehow too late for some new guys to get into the market. The price can scare the soul.
👍  
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@nanzo-scoop ·
I think people put too much store in the value of a single unit (e.g. one bitcoin). In 10 years time we could be measuring in 'millibitcoin' and the prices of today could be seen as a steal. 

Early investors in Bitcoin will only have reaped the reward if they had the nerve the hold onto the majority of their coins. That is easier said than done, particularly if the value of your stash starts reaching 'life changing' amounts. Early investors often get cycled out quickly unless they have unshakable belief in the project.
👍  
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@penking ·
$0.65
In my opinion, I don't think it's too late to invest in Bitcoin. You can never tell where the price will hit tomorrow.

But if you still has doubts, there are other potential big coins. Electroneum, Litecoin etc. INVEST!!!
👍  
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@nanzo-scoop ·
Agreed there are definitely coins that offer potentially better ROI however they often come with even greater risk.
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@gillianpearce ·
$1.23
I've yet to actually invest in any crypto apart from the Steem I've earned here. I'm not sure I will as I'm pretty risk averse. I would need to spend time researching which I don't have time to do at the moment.

I'm learning a lot by being here though so maybe I'll learn enough to take the plunge.

This is a key point of your article I think. I found it very helpful.

No-one has ever been knowingly 'early'
👍  ,
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@ashrafashoor ·
HODLs is best policy for now yeah i agree with there is to late and thanks for sharing this valuable discussion.
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@sharifulislamm ·
It is rising but how time lasting!there ha no surety so,if you don't buy , don't take it as pressure or mistake.We see that the last month of 2 month of 2k18 it rate is incresing.The frist week of march it again decrese
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@dedicatedguy ·
$1.23
Since you have a lot of experience in the crypto sector, I wonder if you have already shared your thoughts about which are the most promising cryptos out there?

Where do you think steem will be in a couple of years? 

I ask this, simply because I am interested in reading from people who have a lot of experience.

Cheers man!
👍  ,
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@nanzo-scoop ·
I don't know which coins are the most promising however In do believe that this year and next will be the ones where cryptocurrencies will need to start delivering usable products to remain relevant; particularly after the cash injection of last year.

In this regards, Steem is in good standing.

However I could be wrong and we could see a few more years of speculation and rollercoaster valuations!
👍  
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@camzy ·
$0.52
nothing is too late to start, no one would tell me $20,000 is the highest form of money ever since, the only reason why its seen as impossible is that there is a "possible" in the spelling of impossible.

its better late than never..
👍  
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@mdf-365 ·
$2.45
Right, I have a lot of similar conversations. People think in terms of only investment/stocks, or don't understand how the technology works. Often they have never managed their own longterm finances or don't concern themselves with economic trends.

It's difficult to initiate a legitimate exchange if there is poor info or one side is lacking information - and that goes for me too. I try to go to events and learn from people that are better informed than I am about particular aspects of how Bitcoin works and the infrastructure is developing.
👍  ,
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@mickyscofield ·
$1.06
I actually got into the crypto space mid last year pretty late but never impossible to partake.
I believe the possibilities in the cryptosphere is enormous and thus, affords everyone the opportunity to hold some stake notwithstanding the time.
It is never late however for anyone. 
Apparently, less than 10% of the world' populace have a stake of crypto
👍  ,
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@aireal · (edited)
$1.04
That's something I'm sick of hearing.Bitcoin increases? Does the sub-coins gain value?  Should we invest?  Sufficient!! it's pointless for people to see it as a profit.Of course, we can invest, but it's never meant to make money.These cryptos don't own one.We're the only one who owns it.We should use these instead of paper money.it was a revolution like the lydians.We must know the value.

Thank you @nanzo-scoop
👍  
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@faissalchahid ·
$0.03
Like all investments, this investment may involve some risks. However, like risk management in a traditional portfolio, you will have the possibility of managing risk in electronic currencies as well. You should also not be tempted to easily make money, just invest in well-known electronic currencies that will be supported by strong technology in the future.

 

It is good not to invest all your money in electronic currencies, but to allocate a certain amount according to the possibility of risk tolerance and the goals you intend to achieve. However, having a small number of electronic coins in your account and monitoring the increase in value year after year is commonplace these days.
👍  ,
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@bagindooo ·
Deep! Thanks, btc is the leader and is used as the currency exchange tool of altcoin..
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@dominicbasulto ·
I think you've hit on a fundamental truth of all markets - the "right" price for any financial asset is as much a matter of psychology as it is rational analysis.
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@stevelivingston ·
$0.02
Problem is that once you dive down the rabbit hole of cryptocurrencies then you start to question fiat even more, rather than feel the need to defend cryptos. It is a whole new world. A new "Internet". 

Like you say, most people don't hold shares in Amazon, Facebook or Google yet fully embrace the Internet and use these daily. I suspect the same will apply to the blockchain. It will change everything but you don't need to understand or invest in the underlying technologies to experience the benefits.
👍  
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@praz735u5 ·
As long as there is lots of criticism and negativity, this is still in early stages. Should cut off the noise and invest!
👍  
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@mayowadavid ·
Bitcoin is like the human mind not easily predicted but easy to calculate interm of risk and also based on return on investment.
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@tetas08 ·
Sir i read your almost all content and feels very great to see your post... 
Nice written about some special article keep it up and best of luck!  👍
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@tetas08 ·
Written about bitcoin.. Nicely done everything by some special content.. Fabulous to see your article.. Its looking amazing and beautiful... Its a educational purpose article.. I hope worlds people may know your article and feels it.. Keep going on and well-done... 🌻
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@idestroy · (edited)
$0.53
I see bitcoin coming back up. Hopefully it stays out of the downtrend channel.

![](https://steemitimages.com/DQmf19NQsVZm9TLgCcp46UJbSxdnx6brrWb2YDsYFwpcFky/image.png)
👍  , , ,
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@thomasinfo ·
$0.05
This is a head and shoulders pattern. I am not very well in recognizing them, but I am participating on this. Thank you for the tip. Here have my upvote!
👍  
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@skyefox ·
$0.48
Personally I do not think its too late and anyone that has been in crypto for 6+ months knows that this is part of the cycle. We had such a massive explosion  up that if it didnt come down like this it would be NOT GOOD. It would just add to the devastation. Things will stabilize and I believe we will see new highs this summer. Just my thoughts.
👍  , , , , , , , ,
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@thomasinfo ·
It is defiantly not to late. Is anyone aware of the product life cycle? Bitcoin is still in the early adopting space. There is allot of countries were Bitcoin not yet landed. I personally live in Lisbon, Portugal and I am surprised It is barely in the news here compared to my home country the Netherlands. There is still so many countries and people that have to understand crypto currency. Trust me...
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@stackin ·
All I say to them is "Keep On STACKIN" HAHA and if they are reluctant, I keep it movin 🤣
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@lemmybe ·
This is just the beginning, At any price point there will always be that resistance by the "unconvinceables" to invest or even sacrifice time to understand the ideology of cryptocurrencies. 

Well, on the flip side, everyone cannot get on board a train simultaneously. Some will be there watching as things unfolds. While some are just disguised luddites.
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@hennessy · (edited)
$0.05
the pshihology of the human been is very strange. people are willing to invest in homestead for a profit of 20-30 % in many years, but they are not willing to wait 1-2 years for a 5-10X profit. just imagine if you give your 1 year child 1  bitcoin and he hold it for 18 years. he could probably have a bright future.
👍  , , ,
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@thesportsguy ·
Good Point
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@hennessy ·
$0.02
thanks
👍  ,
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@bitcoinwolf ·
$0.03
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@keban ·
Bitcoin is definitely going higher, for me I agree with the fact of bitcoin hitting the 1 million Dollar mark so it is never too late to invest, we are still in the beginning of the rise of bitcoin.
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@stlcp ·
Might have been too late when it was 20k but def not now corrections are healthy
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@smilingllama ·
$0.02
You summed it up perfectly in your last sentence... enjoying the journey probably as much as the final destination.  I still firmly believe we are all early adopters; walking around town at the weekend, just think about it, if you were to stop a random passer by and ask them if they were invested in crypto (say Neo for example), 9 times out of 10, they wouldn't know what you were talking about.  10 years time people will be looking back at 2018 like... "so, you were trading crypto back in 2018!?!"  :)
👍  
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vote details (1)
@jaybird ·
$0.02
It's funny how ppl alway seem to have an opinion on things eh? Even when they have done zero research and only know what the mainstream media has told them.  I really dig your approach to interacting with these ppl tho. 

I'm definitely going to employ that in the future when necessary lol.

The "it's too late phenomenon" is pretty interesting considering everything is relative.  

Let's say you bought some BTC at $1000 and it went up to $10 000 vs. if you bought the same amount at $10 000 and it shot up $100 000...

I mean were you too late or right on time in either case? You made the exact same profit. 

No one should really think in terms of too late!  

That's a terrible life motto anyway lol, one which prevents you from pursuing your goals and living your dreams... 

My approach is usually to wait for a good/obvious buy/sell opportunity.
👍  
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@showboybeezy ·
thank you very much for sharing with us .

I appreciate you sharing this vibes about our own btc with us, because you have helped me open my mind further! I am amazed how closed minded my mind still is after all the other amazing experiences I have had, my thoughts easily suggest experiences different than mine are not possible
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@mathito ·
I think as long as mining is an issue, BitCoin will suffer some high volatility, but that is well known. I am totally looking forward to the time when the 21 mio BTC's are out. I am absolutely sure that it will rise its value dramatically from thereon
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@imaverick ·
Unfortunately you will be long dead come that time...
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@mathito ·
I don't consider it for myself (childs). Nevertheless, the ratio "available BTC"/"BTC price" tells the story even quicker than expected.
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@ender · (edited)
$0.15
I love this
>It always seem late for bitcoin 

I remember deciding to buy in in 2014 after the bust. I tried to mine unsuccessfully in early 2013 and then watched it moon. I often tell people do do the same thing now but those that wouldn’t buy because it was up too much now won’t buy because it is down from the peak.
👍  ,
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vote details (2)
@ender · (edited)
$0.13
My formula is penetration increasing or drecreasing on year over year basis.  If it’s increasing buy. 

Penetration defined by 
Accounts 
Price 
Transactions 
Fiat gateways 
Places to spend 

### If it’s up in more than half of these measures, it’s  a buy.
👍  
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@teamhumble ·
you can lead a human to crypto, but you can't make them drink :) - i'm kinda done with with people who don't do their own research in this stuff. i simply feel i just don't have time to PROVE it to them or to DEBATE it -- either take part or don't i feel now when people try and bring up crypto ;)
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@forexbrokr ·
> “Maybe your view of Bitcoin is more down to a lack of understanding of what it is than anything else?”
The conversation usually dies off at that point.

This is what I find with most people that bag crypto. People don’t like change and this is huge so it **must be** bad.

They’ll come around eventually. As dumb money when it’s too late. 😎
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@imaverick ·
I like it when I hear people saying Bitcoin doesn't have value and Bitcoin will never be used as a currency. This proves to me that we are in early. 

The vast majority of people do not own Bitcoin. If it accomplishes what it is setting out to do then the majority will own or at least use Bitcoin. And if/when 1 billion people are sharing around 20 million bitcoin what do you think the value of 1 bitcoin will be?
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@mathito ·
Unfortunately you will be long dead come that time...
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@imaverick ·
Lol...We could have 1 billion people using Bitcoin in 20 years. I plan on being around for that
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@conradt ·
I dont think its to late invest in Bitcoin but its probably to late to expect the crazy gains of a few years back - you need to take a deep dive into ICOs and alt coins for that!

I do think that Bitcoin is becoming an appreciating asset tho so it is becoming a better store of value and an alternative to the stock market!
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@jona12 ·
Well, this is the same situation that I faced. When I had first joined Bitcoin few month back, people asked me thousands questions and you in Africa guys are still so much more ignorsnt about Bitcoin. 

I took a step and sent my small money there , cause I couldn't wait for long. I could be checking the coin market cap but still Bitcoin would be almost the same. Finally, ***I had to damp my money there and forget it for a while.***

In Africa, people don't really understand cryptocurrencies and the majority of Africa governments do say ***Africa is still young for cryptos***, and the people ignore Bitcoin, without considering the various political games that hinder cryptocurrencies integration.

**I took a risk and forgot my coins, but I know one day I will have much than I have invested.**

@jona12
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@pinkdaddy ·
Too many ignorant people.
👍  
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vote details (1)
@blazing ·
the FOMO has already stucked to those who didn't bought it yet and waiting for more and more dips people can never predict how low it will go bitcoin is here to stay and will revolutionise the things
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@tgheretic ·
It's still a buy. Plenty of ignorance in the world, don't be swayed by it.
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@grizgal ·
$0.18
This is part of the problem with investing. People will be scared following the crash, or believe it’s too late etc. Then btc and Alts will pick up and surge and people will wonder if they should buy in. Then right at the peak, people get FOMO, buy in just in time to see the crash!
👍  
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vote details (1)
@melissakellie ·
Even though i'm just a singer and don't know much about crypto i do know that it is still VERY early days and i believe that crypto currency is our future. When i told my friends about steemit (After my youtube channel got terminated for no reason i had a big following on there of people supporting my music but yeah thats a long story lol but when i told them about steemit they automatically thought of bitcoin and thought it was a scam LOL sooner or later people will know how good steemit is plus blockchain. Great post thanks for sharing - New follower Xx
👍  
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vote details (1)
@cutiepie ·
the more they will fear the more i will buy in that's simply works like that forever
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@davidconstantine · (edited)
$0.46
I think MCafee will have to eat his P.
Yet, I do believe Bitcoin will raise up... like a stock market, eventually it goes out :)
![](https://steemitimages.com/DQmejfVnke74k1tRKjLJkREukB1QhYEmtdu7efjGmgXcPhg/image.png)
👍  
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vote details (1)
@saikr ·
Its not too late.but you have missed the train.you should get btc at 6k atleast.
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@laviniatherapist ·
Hey steemian, I leave you here a funny and real post about Bitcoin. I hope you will find it interesting! Have a nice day!  &#128587;

https://steemit.com/cryptocurrency/@laviniatherapist/you-re-not-tired-of-the-subject-bitcoin-cryptoccurency-some-real-facts-about-it
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@olinzodd ·
I think a lot of people 'can't see the forest for the trees', as we used to say back in the day. In other words,we are in the very early stages of 'true' digital cash-sort of like cars, the first model was a model t (or a or something :-) but 100 or so years later, you can buy some pretty fancy cars.
Not that I'm saying hodl bitcoin or any other crypto necessarily; but give it some time, especially if you're young :-)
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@ingaaa ·
I love how you challenge your counterparts on the topic of Bitcoin. I keep hearing the same things all the time but I just brush off the comments usually. Great post, Tony!
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@cityslicker ·
all great things come to those who stick by it we either will miss this great opportunity in our life time if we listen to the FUD or if we stick to crypto we will make it the choice is all ours
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@starboye ·
people opinion is like the worse thing that could happen in crypto the more we listen the more we get afraid of it
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@journeyoflife ·
I even heard people saying we won’t be seeing 20K bitcoin price this year . Maybe if we have hope and the losers don’t sell, we will see a rise
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@davidblackwell ·
I keep telling people they are too late to fiat currency. The US dollar is guaranteed to lose purchasing power this year.
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@aldentan ·
http://alden-tan.com/wp-content/uploads/2018/02/28504574_10156089880461870_1523561367_o.jpg

Just show'em this!
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@jamesiain ·
What you are saying here is they are repeating mainstream media talking points a-lot of people are plugged in and repeat what people say from the television, therefore talking to them about these things makes it very difficult to beat the programming, they are literally programmed into responses, which is very difficult to break the program, also the is a highly manipulative system in play going on to actually keep people in poverty, the is a high problem the are people awake and people totally asleep and they watch the mainstream news and take the talking heads talking points and repeat them, you could probably go and look for a video where they have said these exact things, but you cannot say they are just copying what the news says they will get very angry at the thought this is not their own.
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