Bitcoin Forum

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?


Btw, has anyone experienced BISPEX exchange known as its insurance funding?

Bitcoin value starts with secure technology. Attention leads to greed, and really LARGE piles of money tend to fly around every two or three years.

Well, you have asked a lot of questions within a small scope of this thread. But let me try to answer.


Indeed it is a life changing concept! However, it depends on how you look at it. Majorly, bitcoin is used as an investment contrary to its initial idea. But we have loads of examples where people were able to achieve succes through crypto trading or just by investing in it. We have negative examples as well but these people tried to become rich overnight. So it's a mix of good and bad experiences like most other things of the world.

Bitcoin is not being used actively in many countries. But here the issue lies with the legal framework of that country, not with bitcoin. It is fully capable to be used actively but due to unfavorable legislation, people are not able to!


It's both! The anonymity is one of the major factors behind the popularity of bitcoin today. So first came the technology which caught people's attention and then comes the popularity. This popularity is what driving bitcoin today! Makes sense?

Both, of course. Technology is what made bitcoin however it will be just nothing if people doesn't need it and that dictates the demand as well.
On the other hand, maybe, if bitcoin doesn't become a stored value coin we don't bother to use even how promising it is. C'mon, don't be hypocrite if you say no.

People's attention because bitcoin is dependent to it's demand and the one who dictates the demand are the investors which are the people.

So without us bitcoin is useless that is why the founder and supporters of bitcoin are doing their best to advertise bitcoin in order to reach to other people who are potential investors or supporters in order to raise the price of bitcoin. More demand means higher price.

Yes thats right! If without us there is no bitcoin because as what you have said it depends only on the people's demand thats why if the demand is high the price will also increase. And because bitcoin is the most influential coin, it will affect all the other coins if there is a movement on its price. In fact most of us are waiting for the halving because they are speculations that after the halving season, the bitcoin's price will rise.

everyone has different thoughts about bitcoin, so no one forbids you to live without bitcoin and also nobody forces you to be a bitcoin user, how can anyone pay attention without having to look at the technology, even some people buy and sell their products too with bitcoin, sometimes people buy it as an investment in their digital assets where at times they can sell it when it's expensive, so what's bothering you about bitcoin while bitcoin doesn't disturb your life at all, just live what it should be, everyone goes for bitcoin is their freedom of thought about bitcoin whether it comes from investing or looking for profit or just attention and that's what makes bitcoin valuable, lots of technology you can use it's just that you don't want to use it and it will be very difficult, everything comes back again to people How do they think about bitcoin?

Everything's fine, until it's not. You could probably argue that you currently don't need bitcoin if you live in a country with a somewhat "healthier" economy(for now, at least) like the United States, but in the future? Let's see. You just hope that no one gets to mess up the economy either by corruption, or mismanagement. Also, let's not forget our buddies in countries with dumpstered economies like Zimbabwe and Venezuela.

Bitcoin is not for everyone who like to improve their life, it's just a system and with massive adoption its gonna be more transparent compared the centralized system we are currently using.

Who benefited this? the users and the investors who invested at its early stage.. I am sure, this internet money will be popular in the future sending money in different parts of the world would be easy.

I think the people's attention that came from fast growing of bitcoin price (especially the 2017 bull run), is the most important reason for bitcoin value today. Blockchain is a great tech but Bitcoin is not ready for mass adoption. I would argue that Bitcoin will need to scale faster to accommodate a large increase in users. The fees and confirmation times aren't too horrendous right now but it could get much worse again in future. Segwit needs to have higher adoption and lightning network needs to be implemented widely.

Bitcoin is only 10 years old, it has many years to still grow. Bitcoin and the block-chain have come very far and to think, it all came from one mans dream to help change the world through a digitally improved version of your standard financial ledger. I think Bitcoin was only a simple proof of concept introducing and demonstrating the capabilities of the technological innovation of the block-chain, a decentralized, transparent and publicly distributed digital ledger that runs on a peer-2-peer network which prevents any tampering or alterations of it's logged transactions.
  To answer your question, it is true, the current financial system works quite well, and is a whole lot faster to use than Bitcoin or cryptocurrency. This is only a time, because the  block-chains are becoming much faster and the interfacing around this technology is becoming more user friendly.

Bitcoin is actually far more complex than other stores of value, or technology because it is both. You may argue that Gold also has that feature, of being both useful and also used as a currency. Bitcoin has something more than any technology I have seen so far. It is going to be used in all our future infrastructure layers, seen and unseen, noticed by the public at large, and also will go unnoticed, but will be used in the background. The Blockchain technology itself to be utilized is so diverse in nature, that for me that is where the real intrinsic value lies. On the other hand, the more people have access to Bitcoin as a currency, the more attractive it will become as a store of value also. As more and more people like the decentralized aspect behind it and have the feeling of being more in control of their money (especially when it has a limited supply tag on it)  they will be ultimately attracted to Bitcoin for holding purposes and for using it in their daily transactions.

I think its both the people and the technology. Basically these two factors are essential for bitcoin value. People are the participants and creators that will do the action and market activities. The technology on the other hand is very important to have the platform to work on to. When people create and utilizes bitcoin we need technology to do it. When technology fails the price is also affected. When people don't participate who will utilize it?

Actually it really starts with the people's attention because without the people's attention there will be no technology that will involve bitcoin as well. Although this two are performing a big participation to the bitcoin it really matters on what is the best thing to do. The person's attention are the one they are making to enter and to be entertained in the bitcoin because their attention will brought them extra knowledge on it.
People are the one who are making the bitcoin to be utilized in different matter so that this are the very important thing we need to be focus on.

You are not seeing it now because it became a store of value.
Anything that is limited will have that kind of event. Gold, oil or painting and rare items.
Because of that, people will appreciate its value as it takes longer in the market specially when it is mint.

Now, people don't value art that much by now. They want something with a connection with technology.
Bitcoin is being offered. You will just need to see through the future.

I think both have to play their important roles on bitcoin in order for it to be successful. With technology like this that is fully backed by majority of the population in the world, maybe a new beginning is possible. All technological advancement is much needed and should be run by the people unless their is really an A.I that could fully think on it's own and that way we are no longer needed.

Lightning network really  needs to be widely implemented in order to improve the speed of transactions because it will be a big turn off for the investors if the technology is slowly progressing in the field of transaction speed and fees. Segwit are slowly becoming popular for the new investors these days and that actually is a good start.

The value of bitcoin begins with an investment. And people are primarily interested in earning money.

Value starts with the technology and ends with peoples attention.  I think the two should be considered when we are talking about value.  Technology for its usefulness in peoples' life.  But it does not ends there, the realization of the value of a technology if people took notice of it and get interested with it.  Same goes with other items such as gold.  If people are not interested in acquiring gold, would it have its current value?

Its a little bit of both first people must know about bitcoin and have an interest in it so bitcoin will be known world wide and that will attract developers to use bitcoin and its technology on daily basis.

The very first mass use of bitcoin was probably on Silk Road, a drug dealing marketplace. People used BTC there because of its technology; pseudonymous nature of bitcoin. It has created a lot of attention which later have turned the price higher and higher; got more attention.
Now BTC is popular for both. We have a lot of places to spend BTC. It's technology is developing consistently.

Its price increases because of the innovation that is happening and also the peoples attention. We all know that some people wants to have a faster transaction and bitcoin is being able to provide it to its consumer. Plus the fact that you can earn by just simple doing some trading. When the consumer supports it, there is a higher chance that it will have a huge impact to the current price of bitcoin.

Bitcoin's value lies in the large number of copies of its decentralised ledgers. Because of this, it is the only crypto that is not vulnerable to a 51% attack. It is a real store of value that is independent of other asset classes, and it is the only crypto that offers this with real security from outside intervention.

Is the myth of transparency relevant? Unlike the fiat, here you can easily track the complete history of coin movements and what happened to them, everything is transparent
 
They have advantages. For example, taxes from the government. Tool for against corruption and successful implementation for business

Technology or People's attention? Both. But mainly people and the economic situation in the world

but our lives will be more functional and related if we are using Bitcoin right?because this is the Money of tomorrow mate and we must be ready now as we are nearing the pure computer technology.
but this is where we are now,technological world mate so better be On bitcoin now.
Both mate it is Peoples attention and also the technology behind this currency ,because without technology people wont use Bitcoin and same as without bitcoin there are no peoples attention.

It's surely the attention and hype. Bitcoin would not be as much priced if it were just for it's use. With it's limited supply it's a good asset to store.
Most of the people actually came to know about it as a good investment option rather than a good technology.

People's attention is a big help for bitcoin price. how? because of peoples curiosity they seeking the information and search bitcoin. with bitcoin there are few people life change, they can earn money without going out in the house, they can spend more time in the family. with technology of bitcoin they can earn extra income to support they needs. with this new technology, every persons hard life has helped it somehow.

Please know that Silk Road =/= drug marketplace. I don't know, but I tend to feel that it is a bit unfair equating Silk Road with illegal drugs. Silk Road = free marketplace. And the free here is the free in its true sense. It is not the free that we know in our society nowadays where restrictions are found everywhere. The tendency with a free market is that there are goods and services sold and bought that are considered illegal outside. And that's probably the reason why it was operating as a black market in the deep web using TOR.

That market was perhaps the earliest and biggest market where Bitcoin is the primary currency. And Bitcoin thrived there due to its technological design. So, I guess it is technology that really comes first before people are attracted to it. But of course Bitcoin's technological features were already discovered and known even before Silk Road came into being.

anything thats innovative, new and can help community in over coming existent problems will always catch people attention and that's the same case with bitcoin also. its backed by technology and is making peer to peer transfer of value a reality.

Of course it starts with technology but it's got no use without people. These are too abstract and vague questions to ask tbh

Myself just have two factor to answer your question here.

One factor bitcoin can be made as an investment place because its volatility price. There are a lot of people come to buy bitcoin with an easy way, we don't need a lot of requirements to start investing.

Second factor it just because the technology that being used by many people now. As you know,  a lot of people just use their smartphone to make a transaction and we don't need to take a lot of money in our pocket and now the people can be use bitcoin to do it.These factors can be made as a reason to change its price. Simply, people's attention and also its technology that make bitcoin has a value.

Its value is moving up due to its vast and powerful technology and the multiple benefits that it offers and the wide range of security that it provide is attracting people’s attention toward it. For me both the factors are contributing in increasing its value. Blockchain that act as a back-power for this technology is making it more attractive due to which more and more investors are coming forward to join this market.

Not significantly, but Bitcoin can be a hero when people faced crisis.


Yes of course, because Bitcoin designed as an alternative.


You have a good choice.


People attention bring mass adoption which means more demands, as we know Bitcoin supply is limited, supply < demands = high value. There must be a reason why people are interested in bitcoin, of course the ecosystem, because Bitcoin technology is very innovative.

I think both is the right answer, bitcoin have something new to offer and that's what makes it favourable to people and yet many are still against the technology but fortunately things get healed over time, every year bitcoin keeps winning the heart of many

Bitcoin value started with its technology because Blockchain is something new and potential, then it grown by people's attention after the pump in 2017.

I think both.  :D

Bitcoin has different advantages in different aspects so I can say it's a very interesting asset in the future. The technology behind it which is blockchain technology also has a great effect on society once it's used and implemented in different categories development.

We knew the potential of BTC and blockchain is very huge so I wouldn't doubt if we will use it as a tool for modernization of the world.

This is true, you can easily live your life without ever touching Bitcoin, and it's not as impactful as not having the Internet or smartphone or other invention, but this doesn't mean that Bitcoin is useless. Some things aren't widely popular, but still have people who find them very useful - think about something like the Tor browser, which has tiny share of all browsers, but is immeasurably valuable to those who need privacy.

The thing that increases the value of bitcoin is inseparable from the two, there is one addition where controversy which always leads to useful use can also be a reference.

talking about the future, bitcoin can answer it as a potential digital asset. If the next generation understands this technology, it will certainly be very significant. Will Fiat be okay in the future? only future generations can answer that.

It is the technology that gave it the people's attention. A more comparable and proper term of what I think you want to portrait is "Is it the technology or just people's hype?".

The fact that you could transact on large amounts, disregarding any limitations on location, and away from intermeidaries such as traditional banks, with their high amounts of fees especially on international transactions, makes Bitcoin a great alternative in sending funds with minimal fees, and directly conducted without monitoring and further investigation.

My apologize for people that maybe not agree with me, but bitcoin last pump i think really get hyped that is why people aware with it. And not because it's technology because after it, bitcoin price looks not get any support anymore except from it's early investor especially when it is dumped. Because if bitcoin technology keep developed and can attract people, it must be already staying in high price.

With a great invention, it is always backed by a concrete and flawless plan for it to be implemented. Bitcoin in a case undergoes massive development that requires the help of the world for it to be perfect. Now that we are more focus on the bitcoin's value, the option we have is whether it starts with the peoples attention or with its technology, where in fact could work both other ways and vise versa. Bitcoin could possibly have its value because of it technology seen by people that leads to its adoption or the other way which is bitcoin gains value because of attention first, followed by the improvement of its technology.

I think I’m going to give it to the people. The technology is good but imagine that the people decides to not adopt and invest in it, it’s going to be worthless . So the value is because of the people that are investing in it. And as to whether Bitcoin can change life? The answer to that is a no. Bitcoin cannot change your life, the only thing it does is to make transaction easier and cheap for us.

If you’re making use of Bitcoin there is a less cost for sending money abroad compared to what you will have to pay if you’re to make use of banks, there are even cryptocurrencies with lesser cost. I used ETH to send money for the first and the cost was very low and it was instant. That’s the only thing Bitcoin and other cryptocurrencies can do for you, they are not going to change your life, you have to work towards changing your own life.

It all depends on the perspective of each person, everyone has a thing to take the value and technology provided by bitcoin. In general, at this time people's views on bitcoin are already out of the original concept, because people only focus on values and values so that many expect to get a lot of money in an instant. Greed arises, then when prices fall a little panic occurs everywhere. Unlike people who view bitcoin as a technology, of course, will not be affected by the decline in value at any price.

I think both of them are really needed to increase the value of bitcoin. some people are interested in bitcoin because the technology underlying bitcoin is very revolutionary and also makes it easy for us to make transactions. and bitcoin to be able to grow also needs attention without public attention bitcoin is not likely to increase. and in my opinion bitcoin will come to the attention of many people when bitcoin can reach an ATH value of $ 20k.

indeed at the moment I see both of them playing an active role from technology that is increasingly being developed and widely used by many platforms will provide increased use means that there will be many transactions that will use bitcoin or use the technology which can have a good influence on the price of bitcoin at the exchange place.

in my opinion bitcoin is very valuable, of course because of technology and attention, by using blockchain technology in it, bitcoin is in high demand by the public and investors to be used as their transaction and investment tools, and with blockchain technology it makes bitcoin very different from conventional currencies where bitcoin will become our own finances without the authority of a central bank or other organization.

I also thought like that, the big pump that happened in 2017 was the ICO hype, because all ICO projects use the token / altcoin purchase method with BTC. and not only BTC, ETH and BCH are also one of the buying methods. these three crypto really had fantastic prices at the time, but after the ICO began to disappear, the prices of the three cryptos began to fall. but hopefully I misjudge, and the reality is that Bitcoin is indeed worth defending because the technology has been widely used by many people in the world.

Technology before but right now its more on the peoples attention and peoples mindset. Bitcoin is good for transacting faster than the banks but since governments are against this one, we can't enjoy its true potential. Bitcoin will grow more if there's a big support from the government and the investors.

Technology is the reason how Bitcoin was created but people is the one that gives value to Bitcoin. What's the purpose of Bitcoin if no one's using and giving value to Bitcoin. That's why demands affect Bitcoin's price.

Yeah, people can still live without Bitcoin but people with Bitcoin is more advanced when it comes to technology and opportunity. They're missing out what we can achieve here with Bitcoin. If bitcoin changed our lives when she started investing in Bitcoin, what more if everyone will?

right, at the first time people look for uts technology, but many of them now earning profit. people will think bitcoin is very good because the technology, and they believe someday they will gain much profit after collect this coin.

but usually speculators lose

Of course, both would be the reason for becoming an important thing in the current market, I think with the invention of Technology, people are getting attracted to this system, I think people's curiosity is one of the most important things in this issue, When people know at the first time about Bitcoin then they started to search about the actual facts and findings about Bitcoin, day by day when people's hype was increasing then the market was being developed in that way, I think this is how a market usually develop. so both technology and people's attention were the key factors for the present Bitcoin status.

It is because people will much appreciate Bitcoin as an investment but not as the technology itself. Granting that it makes more susceptible to the people if they could make money rather than to use of no returns. It is really to push the people and consider Bitcoin as a currency especially to the place that Bitcoin/or any crypto coins aren't accepted and it is hard to realize its purpose until cryptos will be accepted anywhere in all online transactions.
It may be we could have to wait for another decade before we are fully considered.   

People's attention along with the technology advancement has made the value. The technology is big and a game changer, by the time if there is none to use then the value it hold is zero. With time the adoption and usage of cryptocurrencies keeps growing which is by the people and the continued updation of technology makes it usable for the long term.

People's attention is easily gone when they find something interesting that do now if Bitcoin does not have value at all, people will not become interested in this technology, when I first discover Bitcoin I become interested in its uniqueness, it's something that has never been done before and people knew that they have to be part of this technology.

I see it also as both peoples attention and technology because with people they keep improving the technology that we are using and getting wider the ussge of cryptocurrency.  In fact bitcoin will still valuable because of lot of investor that we have. 

What do you mean by "by the time if there is none to use then the value it hold is zero?"

I don't know what do you mean by that but i suppose you mean if Bitcoin would runs out/empty. I don't think Bitcoin would just go empty with this open market, because if there are traders then it is constant that Bitcoin is just recycling back and forth by the traders. It's impossible to think that everyone would just hold their Bitcoin.

You don't have to worry because it takes over hundred of years before the last Bitcoin is being mined.

Governments are not supporting this digital currency because of its decentralized nature. They are fearful that making this currency legal would snatch the control of them over the citizens. But still people are enjoying its true potential as the market is growing at a faster rate. I think if governments will allow this currency to be used legally and would remove all restrictions from it, the economies of the countries would become more stable, more people will be attracted toward this currency and this will increase the price of Bitcoin.

It's both.
People will invest their fiat money into it regardless if they want to use it for its technology or its value.
It is increasing the demand as it is.
Although I am here for both, but majority of it would be the utilization. On the other side, I still manage to earn some from hodling Bitcoin and I keep the habit of doing so.

It is not the rise of the technology that makes the price of the bitcoin to rise but rather the people's attention about getting to know that a particular so called e-currency price has risen by 500% within few highs. I could remember then that bitcoin started trending on social media because it becomes a subject of discussion by the news media. When I knew bitcoin in 2012, I didn't even know there is anything like blockchain technology. I was just doing my thing and using liberty reserve (LR) but when lr was banned by the United State in 2012/2013, it was then I got to know about bitcoin but it didn't catch my full attention because nobody was accepting it for local currencies in my country then. It was latter that the BTC price hike was windling up that the importance of the technology is being given attention.

I think that is both. It is because of the technology which is actually innovating and that is why people are encouraged to start making money with bitcoin because of its benefits. We all know that there are lots of benefits you can get when you are involved with bitcoin and with its technology. How are they gonna like bitcoin if the technology itself is not that good? As we are continuing our journey here, there are lots of technology are being produced with different uses of course and that technology is correlated with bitcoin or cryptocurrency itself.

The technology underlying Bitcoin is groundbreaking. Bloclchain has many use cases which can disrupt many industries. But Bitcoin as a currency which challenges the present monetary system needs people's trust and support to actually become successful as a currency and/or replace traditional currency.

Bitcoin needs more adoption. Right now the people's attention is more important than the technology.

I think there have been many times in the history of Bitcoin the value has soared, so a lot of investors have started to pay attention to it, it just keeps going on getting more and more investors, the volume of Bitcoin's transaction has also increased many times, I think of this market as a financial playground rather than paying attention to its technology

It is people’s attention that results in the increase of Bitcoin price. In the next step, increased price gain attention of more people. So, it is a two way process and both equally support each other. But the underlying major support is the technology itself as it is because of the technology that we are attracted toward it and this leads to more transactions that increase the price of Bitcoin.

No, people's attention didn't increase the BTC price, the users and investors of it are the one who made changes. Whales also made their step on making a change on BTC price. So once they made an increase, it will attract those people to invest in BTC also and they will use those people to benefit on their own. Most of the people are only focused on the price not in the technology, even in here, there are many people who still not care about technology but have a lot of investments.

Both are important but technology is more. Attention comes to products that offer something innovative and this means that a good product will eventually draw attentio and succeeed. A bad product can buy attention or lie to you at first but in time people will see it for what it is. It's the technology that counts because a bad project + attention usually means lies and scams.

Of course, Bitcoin is an alternative to conventional financial systems and provides users with transparency and privacy, in contrast to the previous financial system. So despite many controversies, bitcoin is able to survive because the innovation offered is very good.

Public attention is gained by unique and extraordinary technology, which is why BTC is a very good alternative and attracts the attention of many people who want a new system that is better and more profitable. So, this is a combination of the two that makes the value of BTC continues to increase, especially the halving system that makes BTC a rare commodity in the future. This is a neatly arranged innovation.

It's the curiosity and uniqueness of the technology but with the technology comes scams. I don't often pay attention to projects with too much hype. Especially if the hype is all they have going for them. Like you say those very likely turn into scams. The easiest way to figure out if it is a scam is to see if the hype is caused by people making profits. Think of scams like bitconnect. The good returns cause much of the hype it had and people saw it working and didn't care where the money really came from.

Can't disagree with that one. Greed is a huge trap for herds of thirsty pollywogs, and scammers know this better than anybody