Bitcoin Forum

We have all heard the story of the pizza guy getting paid in BTC, yet some 10 years after Bitcoin was made, hardly any shops accept BTC in the great scheme of things.


It started off as a project that would enable the regular guy with a modest pc to mine BTC, now you need a huge farm to be able to mine effectively.


Bitcoin is getting further and further away from the guy in the street, and is now some rich hedgefunds 1% elite plaything.


What is the future of Bitcoin in your view, will it render itself useless and be taken over/killed by a better suited cryptoproject, or are we stuck with it??

Has Bitcoin failed?

NO.

It's changed from the original vision of a P2P currency as to be the best store of value in the world although you can still pay with it.


Not really, rich hedgefunds are getting into it but there are lots of us who hold bitcoin and there's plenty of room for the average Joe.

Bitcoin is not failed and has never failed before, before it was only retail investors but now institutions have joined which makes bitcoin to be a coin that has more value in 2020. If it goes like this, possibly bitcoin will be the first world's currency and yet an asset. Bitcoin is just going stronger with better future.

Well, my gut feeling is that it is getting further and further away from regular Joe in the street, and it may be eventually just getting concentrated in the hands of the rich classes as a store of value.

Prove me wrong!


How many people in your neighborhood where you live hold or use Bitcoin, probably close to zero. And how many in your own family has recently paid for anything with BTC?

What is bitcoin? Bitcoin is money, and also an asset. Who has money and assets? The riches. Or, do you want it to be otherwise?

I have friends having bitcoin and I have many disturbing that they want to know about it. I have family members having it, and I am happy to have it also as it is a deflationary money.

Bitcoin is not about you using it for payment only, bitcoin is also an asset, holding it is not bad. And, as bitcoin is getting more adopted, expect it to go mainstream and emerge as the first world's currency. But, it being an asset to hold is also worth it.

You know why? Because the regular Joe in the street isn't likely to take part in new technological inventions. Especially when they don't even know what a certain technology does in the first place.

None. Because not a single person I know in my city even invests in general. Just consumerism everywhere. Does that make certain assets such as gold and stocks a failure as well?

You're making conclusions that bitcoin is a failure just because you don't know anyone using it. Even though you probably know well that Bitcoin is still a very new technology.

Adoption takes time.

You are judging an invention which is only 10 years old and only after 2017 most of the people around the world heard about it for the first time. Culture of printed bank notes did not evaluate over night. In fact the idea of money took place before we had idea about writing.

Do you think bank notes are better than bitcoin? If you think yes then still we have a long way to go but if you think no then bitcoin has not failed yet.

No use. As Satoshi said "if you don't believe me or don't get it, I don't have time to try to convince you, sorry".

The problems are not the ones you wrote. The problem is that you have no patience.
How you expect that the herd would massively use this coin all the governments said they should stay away of?
Do they have enough good examples there for long time and telling they should use Bitcoin? No. Not yet.

I'll be waiting patiently for the time to prove you wrong.

It a nice questions , but it all depends on the perspective you view bitcoin from, we can simplify bitcoin as "A grass to Grace project" so no it has not failed , as saying it is now getting away from a guy in the street it's just to show it's importance in the world today.

Has bitcoin failed what exactly?

Being a store of value?
Being a world reserve currency?
Being a bank of your own?
Being a VISA/MC replacement?

Store of value works quite well if you buy from here and there but many people got fucked because of the volatility too. I am neutral about this.

Btc was never meant to be the World reserve currency because no government would accept it so It didn't fail it because it was never going to happen anyway.

Bank of your own works just fine because as long as you own your keys nobody can seize it from you. The problem here is, they can manipulate its dollar value and at the end of the day, bitcoin is backed by dollars.

VISA/MC replacement... that's a physical limitation. Impossible to work like VISA on a decentralized network.

It is silly to think that a regular joe would use bitcoin now.
Bitcoin is still very restrict. There are people who use it to invest/trade and some others who receive it from services done in the internet (blogs, webs design, coding). Very few people use it to buy stuff, as there are very few places to use it.

Maybe in a few years we will see big retailers such as Amazon/Uber/etc using it. Then the regular Joe might be interested.

Personally, bitcoin is still mostly useful to buy/sell stuff in the internet, specially when dealing with people from foreign countries. When I am face to face I prefer to use Visa/cash, specially because of long confirmation time.

But I could buy a TV in the web using bitcoin, it would be nice.
We will get there some day, in a few years.

I believe this to be a normal question asked by almost everyone that is into cryptocurrency.
Even if Bitcoin was created to enhance peer to peer transaction, but now it is used as otherwise I will still say that Bitcoin has not still failed

How has it failed??? What sort of question is this? Do you expect BTC to just keep going up without any market correction, because if you think you can buy BTC to only see your money going up without no risk of losing then you're in the wrong market, and it is no market of this kind.

Pls don't spread this sort of false, incorrect opinion with no substantial wight to it whatsoever.

BTC is the inventions of the 21th century equivalent to the 20th century invention of the Internet!

Years? I can do that for years now.. in Romania!
I've got 3 years ago some coins as Christmas present from @yahoo62278 and I bought a computer display off them (https://bitcointalk.org/index.php?topic=2468218.msg27826702#msg27826702), directly for Bitcoin. I use that display even at this moment.

OK, I can do that at a very limited number of online shops, but I am sure that this is more common in more evolved countries.

...did I misunderstand something you meant?!

Good point. Adding to this, the regular Joe is manipulated by media that bitcoin is scamcoin and probably holds all his amount in a bank.
The regular Joe doesn't takes up the motive to read what bitcoin is all about.

I am pretty damn sure that if everybody in the world reads or knows what bitcoin actually is then they would rather consider holding bitcoin than holding money in banks.

we can't say that bitcoin failed.
related to a restaurant that once allowed its customers to pay in bitcoin and finally stopped accepting it. that doesn't mean bitcoin failed.
Bitcoin cannot move without someone moving it. Likewise with the restaurant, it is clear that the problem lies with the restaurant manager.
In this context clearly separated, the success or failure of bitcoin in an exchange depends on how one manages it.

and for the future of bitcoin, of course it will be very popular and become the best choice for future transactions.

No, not at all. If you look at CNBC and Bloomberg they pump it at a daily basis. They have guests on that are either very positive or at worst neutral to BTC. They have bought it and now they want to make a profit.

When was the last time (before this bull run) you heard these news channels promoting bitcoin ?
In the last 2.5 years I have only seen the media criticizing bitcoin. No wonder why they are promoting it now because bitcoin has rallied upwards.
They want to grab the attention of people which is why they bring in big players to speak about bitcoin.

What if some other coin toke over (4th option)? I mean, Bitcoin is doing great but remember that technology is constantly growing. Bitcoin is simply about payment and sending me money.  So, what if some other coin which has way more use cases than Bitcoin comes up? I do anticipate Bitcoin but don't tell me it's not possible. Some coins already have a few extra use cases than Bitcoin.

Bitcoin to my very best of knowledge has not failed and nothing has made it look like a failed digital currency. We have seen what it means to have a failed digital currency, even the fiats currency in history. The defi's has taught us how a failed coin looks like but Bitcoin has no feature of such. Bitcoin has made so many things gearing becasue of it recent adoption by different types of institutions and individual investors. The huge numbers of investors has moved their funds from stock market to Bitcoin and this made it a successful digital currency.

I believe that the story of the pizza for BTC is a fiction, which is used to attract the attention of investors to both BTC and other cryptocurrencies. As for BTC itself, I believe it was created as a temporary counterbalance to fiat money and other assets. As for its future, it will probably continue to be used, but if we talk about adoption in the world, then I am more inclined towards the emergence of state cryptocurrencies.

Well, I think that we should admit Bitcoin isn't moving forward seriously in the direction of being money. As investment? Sure. Something new people get more and more familiar with? I agree. But are there more places accepting Bitcoin as payment now than in 2017? How many of them appeared recently? And even if they accept Bitcoin, do they immediately convert it into fiat? I want to see Bitcoin as money in the near future, but for me it's currently not the case. It's not much of money if you can't buy basic stuff with it and can spend it only under very restricted circumstances.

The whole issues is complicated because there are May situations attached to these. The promise bitcoin gave us maybe all is not accomplished but we shouldn’t that bitcoin is decentralized and it’s really fighting its way through the centralized Authority. In a current post I read couple of hours ago in these community. Someone was complaining of how bitcoin users are treated and persecuted by the government for using bitcoin.

So it’s clear enough bitcoin have lots of chains to break because the centralized governments want to take control of bitcoin and if they achieve that, then then bitcoin has failed as a decentralized currency that it claim. I’m optimistic and believe the future is bright for bitcoin.

Totally bitcoin has not failed to its purpose because bitcoin is still under a process of adaption and it is still growing in the past and coming years.

Maybe bitcoin is not really great when it comes to spending at this point since the market price is so volatile so it would really make sense just investing bitcoin instead of using it in buying things in a store.

But still, I wouldn't say it's a failure since the process is not yet over and in the coming years, it might succeed as a digital currency that you could spend.

Thats not a fair comparison, stocks are an investment vehicle for the investors and a way for companies to raise money, gold can be used for industrial uses as well as jewelry among other things, so both those assets classes have not failed in any way.

Bitcoin on the other hand was initially set up as a way to do payments/money, and is now mostly relegated to a store of value for Wall Street and the rich. So it has mostly failed in that regard.
Where is the mass adoption and use cases for the masses of the people?

Bitcoin has not failed, portraying such is abnormal because since the existence of bitcoin it's very clear that bitcoin has been yielding positively across the countries, many people who don't have it are soliciting to know the rudiments of it in order to enable them to purchase it, so bitcoin is adding values day by day, and it's obvious that is propagating.

No, it wouldn't be replaced by another "crypto project". There could be some projects that the government will work with try to remove the attention of bitcoin but they can't just create a project that's totally decentralized. That will be totally a loose project on their side if no control is being shown to the people who are interested in joining that project. The reality is that bitcoin is here to stay, as long as it lives and it has all the demand that it's getting, it will remain the number 1 cryptocurrency. Before a lot of people want to see institutions joining and investing in bitcoin and now that they're here, I think that's an absurd idea thinking that bitcoin will be just for rich people soon. It is for everyone, capable or not capable individuals or institutions.

There can be nothing like a second Bitcoin. I hope you're getting my point there.

Next, I believe Bitcoin has truly and effectively served its purpose of getting accepted at many major firms and yeah,even if it's stopped to get accepted there, P2P is not going anywhere and you can still purchase even Rs.100 (worth ~$1.4) when buying through P2P. Even if your sole purpose is for investment, I believe there's nothing that could beat this asset. Transformation from just a mode of payment to becoming an asset class of its own is the real definition of Bitcoin's success IMHO.

The TS is making some valid points although i don't agree with all the statements, but i feel most respondents simply trying to protect their investments in bitcoin. Hodlers don't want anyone asking too many questions it seems  ;)

There are few reasons why alot of shops don't accept of bitcoin payment method, it could be due to high volatility of the market, or maybe due to the high cost of transactions or time taken for the other party to receive the bitcoin, but one of the main reason would be due to regulation policies, since the government is against the use of bitcoin in several countries, some even threaten to jail anyone who makes use of it,so there's absolutely no way shops in that country will accept bitcoin payment as it is prohibited in the country.
Hard to mine is also what adds value to bitcoin, cause not everyone can mine it unlike back then when it was quite easy were the early to find blocks,there were less users of bitcoin back then compared to now, so you can't expect it to still be that way.

Bitcoin has not failed as it's still used as P2P payment transfer medium, but people have started using it as an medium of investment which has attracted some corporate giants since 2017 and it's primary feature (P2P transactions) are less utilizes which is a concern for sure but people have just moved to other altcoins like litecoin, XRP and XLM for payment transfer due to it's speed and lesser transaction charges. But that doesn't mean Bitcoin has failed, its original purpose has diminished.

The point is that Bitcoin failed because only a few of us use it? It looks to me that it works exactly as planned.

In your neighbourhood how many people have heard of Bitcoin? Probably everybody as in mine. Even my grandma has heard of Bitcoin. The fact they haven't used Bitcoin yet doesn't mean they won't use it later and that Bitcoin has failed. Ask the people in Venezuela, Lebanon, and Turkey if they prefer their wage in their fiat currency or in Bitcoin.

Bitcoin will never fail because it's main purpose is just an alternative currency, a decentralized one.

The failure is on the part of the human, either we fail to invest,(we loss) or we failed to adopt on bitcoin, because bitcoin will continue to exist regardless of its price and the number of people using it, which we would never know, and as long as there are miners, bitcoin will live.

And end up like BCH? No thank you.


You're misjudging us. We don't defend Bitcoin in threads because we want to protect our investments. We have investments because we believe in it, so it's natural for us to defend something we believe in.

That's what my take on this. And considering its price in the market today, I don't think Satoshi envisioned this price level when he was creating it. The price 10 years ago was way way below than what we have now. I believe the goal of Satoshi has been surpassed already, if he can only make a statement on this regard.

If it has failed or not will depend on what the original intent was. It can still exist and even have value even if it is considered a failure.

The most complaintes I hear about the usage of Bitcoin is that it's ;

     * Slow to confirm.
     * Relatively expensive, especially if paying low amounts.
     * Very few shops/businesses accept BTC.
     * Hardly anyone use it on a daily basis.
     * Fluctuates to much on a weekly and monthly basis
     * Has become too centralized/concentrated because of huge asic farms and hedgefunds/1% elite buying it up.


And this is after 10 years of its inception, seems like the majority has given up on it's original ideas and regular Joe can't be bothered.

Well, then I ask you guys this. What if anything can fix this in your opinion?? How would you fix Bitcoin??

In my opinion nowadays bitcoin is getting better over time, nothing has been able to overtake the domination until now is a clear proof of how strong bitcoin dependency is.
My view of the future of bitcoin will definitely continue to grow bigger from now on because this technology will continue throughout the ages.

I think Bitcoin has never failed since then, Bitcoin only needs time to live in the next few years and at that time many people thought that Bitcoin failed because of its long journey, but it was all wrong, in fact Bitcoin is still in demand by all investors until right now, and it looks a lot better than before. So the point is never to judge something that is not clear, because to be successful requires several processes with a very long time in the future.

The whole substance should not be judged on some awful characteristics. Furthermore, it is unreasonable to assume that Bitcoin is a failure for some principles. Overcoming everything, it nevertheless snatches its position and will go extensively further in the future.

Bitcoin's fully decentralized concept of bitcoin satoshi nakamoto disappeared, now bitcoin is developed by miners and communities. I think as long as there are still coins that imitate the concept of bitcoin during that time bitcoin remains, don't you see the current bitcoin #1 in coinmarketcap in recent years?

Getting the attention of the government shows that Bitcoin did not fail.  If OP's concern is the access of the less fortunate to Bitcoin, then there is always a fraction of BTC called satoshi that is available to anyone who cannot afford to buy the whole BTC.  The creator,  Satoshi Nakamoto, had taken the consideration of Bitcoin getting more value over the course of time, that is why he designed BTC to be divided into smaller fraction so that when that time comes that individual can hardly afford to buy 1 BTC, he has the option to buy it in parts.

As for Bitcoin being overthrown/dethroned by another more advanced cryptocurrency, I think it is possible since I always believe that there is no permanent in this world but change.  The only question here is the time that event will happen.

what exactly is bitcoin's original purpose?

are you saying that bitcoin is failing because of its price or it being able to afford is leaning more and more towards the rich people and not to the middle to lower class-income people?
you know you can always read the bitcoin white paper to know what was the reason why it is created.

maybe, maybe not

Not at all, BTC gave opportunity for millions of people and those who took risk at that moment are millionares today also there was not any promised price of BTC as all of them are aware of the price it was before couple of months and it rallied till it's all time high is a good sign as a top crypto currency, victories and defeat are part of the game same applies here as well. We always can't expect high we need to face the downtrend as well, think about it.

Yes, it was pumped by Wall Street/1% elite. What I'm asking is what has it accomplished in it's 10 years of being around, not much really, just looks like an mlm now.

Bitcoin is failed in terms of payment method, hower is still good as store of value

Has Bitcoin failed it's original purpose?

Yes, it is irrelevant to the great masses of the people.    - 6 (33.3%)
No, it's better than ever.    - 11 (61.1%)
What is Bitcoin?    - 0 (0%)
Some other coin will eventually overtake Bitcoin.    - 1 (5.6%)
   
Total Voters: 18


My vote was for 'no its better then ever'.   This seems to be the most popular vote for you poll and rightfully so.   
I am interested to hear from person who voted for 'Some other coin will eventually overtake Bitcoin'. 
Just want to get a view from someone who thinks a other coin is more superior then Bitcoin (and to know which one.)

There are many alternatives to choose from, coinmarketcap is full of them. The more numerous coins are much easier for most people to understand. An ice cream or a soda costing 0.00008 btc is just not good for business.

No it didn't fail in fact it is a huge success for me,
The fact that some elite and Millionaire's are getting interested in it is a sign that it is a successful project for me.
Aren't you glad that it is upgrading? From being a cheap at first now it is so valuable.

Satoshi himself admitted that mining would eventually be done by big mining farms. Heavily decentralized mining was never a major goal of Bitcoin's protocol.


How it's their plaything? They don't control the price or the network, they are just investors like the others. Bitcoin does not prohibit "the elites" from owning it.


How can it be replaced by any altcoin if those altcoins have even less adoption?

btc may be difficult to mine now and its value is getting expensive but it is not being taken away from the non elite society .

 people in any status can buy btc if they cant mine btc now because of its difficulty or they can also work to earn a btc  .

 btc have changed and people may not like it but it was improved and i like it better than the days where btc is small and only revolves in a small environment .

Bitcoin aimed to be digital cash, but due to high transaction fees it isn't possible. I'm not saying that Bitcoin is failed. I also don't think that Bitcoin is a perfect medium of exchange.

If bitcoin would really failed now as what to thread starter said then we wouldn't be here talking so much about bitcoin and all things related to it. But in the contrary it moves on the opposite ways and it is getting better in status as time passes by. There would be up and lows but that's how this industry works.

It's not failed at all. I don't think if bitcoin was made to act like a fiat currencies. I was not made for people to buy stuff with it from the supermarkets. Bitcoin is an asset, something you can invest on it just like gold. However, time after time people are using bitcoin and and many more shops and websites are accepting bitcoin as payment method for the people who want to buy stuff with bitcoin. Considering bitcoin is still young and progressing, this will take some time to see more users using bitcoin.

Bitcoin is not failing. But if you talk about the price is fail to break $19k again, then that is right. Bitcoin price seems doesn't strong to break $19k at this moment but I am sure that will happen in the future or at least in the near future. With the adoption in many places and people now are trying to invest in bitcoin, it proves that bitcoin is not failing so far. Bitcoin will grow more than today, so it is not failing.

Using past tense on it is very wrong. I mean it's still functioning and you can see that, it's even near on making another All Time High, and yet you're asking if it has failed.

Bitcoin will never failed, it is those people who doubt it that has failed a long time ago when they stop using Bitcoin because they thought it was just a scam but crying right now having so many regrets that they shouldn't have been doubted bitcoin. Bitcoin might come to an end but I don't think it should be consider as failed if it would fullfil its purpose why it was built by Satoshi Nakamoto.

Due to the increased price of bitcoin, it has turned to be the plaything of the elite. For the same we can't conclude bitcoin to be failed. From the day of its existence the usage of bitcoin is not meant for any specific class of people. In simple we can't say bitcoin is unaffordable. Anyone can invest on bitcoin, and the lowest denomination in terms of Satoshi makes it possible. In recent weeks more and more elite group have got into the cryptomarket. There is a fear, these personalities might try to manipulate the market.

TBH, there is a possibility that this might happen in the future. There is a possibility that a huge percentage of the total supply of Bitcoin will go just a handful of rich people around the world.
The problem with some people is that they can't adapt easily to their environment and they aren't interested in learning new things like in this case crypto. For sure you will ask 100 strangers out there and teach them Bitcoin or crypto and some or worst will just ignore you.

---

To answer the question, Bitcoin hasn't failed at all as a crypto.

Bitcoin has been created so that people can transact with other people without the help of any 3rd party and that is what is happening right now isn't it?? Yes its not 100% but there are some who are accepting it and that is the main objective of Bitcoin. To be used as another way or paying or another way of transacting to other people.

The fundamental issue is that it has not!

Long time ago you could afford 10 bitcoins with ease but you still had a very small value in those 10 coins. If you could afford to spend 10 thousand dollars on Bitcoin 4 years ago and you are able to spend the same amount now, you're still in the same position because the elites could spend 10 million then and 10 million now. Back then the same 10 million gave them even more coins which meant even greater influence over the market.

They could influence it 5 years ago and they can do it now. Thinking that the elites weren't playing with it years ago is naive.

Has it really failed?

I agree with you about the miner but wtf are you talking about that the average everyday person cannot afford it? You ever heard of decimal places? You just talking nonesense.

If bitcoin failed this forum and many others would not exist. Many would be out of jobs and work. It wouldn't be around anymore or work if it has failed. You obviously don't know what failing means.

Looking at how far bitcoin have achieved, there us no denying that it is one of the most successful project ever made. Bitcoin community is ever increasing and this only means that there is a bright future ahead. As long as there is a strong community behind bitcoin, it will continue to succeed. Never seen anything like this that people have so much interest of. Bitcoin is bitcoin now because people believed that we can have a decentralised system where everyone can have the full control of their own fund.

The guys in the street already become elite people because they've put their trust in them from the start and may have been among the hedge fund players. But their role has also delivered fantastic bitcoin prices.

Bitcoin has never left the small circle, the fact is we can still buy bitcoin for as little as $1.

As a bitcoin and crypto enthusiast, i don't believe bitcoin has failed or even see the possibility of bitcoin failing.
the devaluation of currencies often comes at a point were such currency isn't able to command demand for the least commodity available as a whole. With the worth of bitcoin, it is the highest  currency so far though, its of the virtual form but then, it only presents potentials which is why governmental bodies tends to exploit or fight against it. The exponential difficulty presented to miners after mining each block is just another genius strategy to keep up with the value and not just to hand the responsibility to any street guy as this could lead to the very devaluation we wish to avoid.

Bitcoin has come into many places and already dominating the market so I guess that Bitcoin does not fail. If you check the chart right now, you'll know that bitcoin is still growing and keep resisting to have a new ATH. And what are you saying that average people can afford to buy it? Bitcoin is very expensive right now as it grows at a low price but you can even buy it on decimals and make it grow.

Some of the known elites in the world are now appreciating the potential of bitcoin and adopting the use of it, so it's a huge success for bitcoin this year 2020.

The third sentence is not entirely true since some users within this Industry came from small beginning in which they turned into their own skills to earn as much as possible within the Cryptocurrency Industry and not just Bitcoin. Nobody really knew Bitcoin's goal but if someone knew what is Bitcoin's original goal, they should be proud since it is still useful after the years have gone by and the increase in number of users is still greatly seen.

PayPal's total active user accounts is 361 million from 3rd quarter 2020. PayPal's Founded: December 1998.
Coinbase and Blockchain.com have already created almost 100 million Bitcoin wallets alone. Bitcoin is a new currency that was created in 2009.

Search for the difference and keep wondering if Bitcoin is the winner or not?

No definitely not. As the global is facing new strain everyone is panic and this is what happening in every market. And the psycology is the biggest thing than any technicals.

Why exactly do you think it has failed? Just because you now need better equipment to mine? Lol, I don't remember reading anywhere that bitcoin was made to be able to "mine it easily". Bitcoin was made to be used as a currency without having any third parties involved. It was made so that only YOU own the coins. Not the banks or the government.
And no. Bitcoin hasn't become a "elite" class or rich people currency. You can still fractions of bitcoin. And if you can't mine, then help by promoting it in a positive way.

Not at all bitcoin gave several opportunities to invest but many ignored it because of fear they will lose money, whenever the price goes down people say bitcoin failed again. I would say people are opportunist they always want to see BTC pump.

BTCs domination would say everyone wheather it has failed or not and I've already been the fan of BTC because it gives opportunity again and again.

And how much would it cost in fees to buy bitcoin for $1, it would cost you a lot more to just buy one dollar worth of bitcoin, thats part of the problem.

Don't because in your environment no one owns and uses Bitcoin then you assume that Bitcoin failed. And also because many who
own Bitcoin are rich people, it makes you think that Bitcoin failed. All of your thoughts are wrong, because the number of Bitcoin
users in several countries continues to increase, Especially in this year after Bitcoin managed to reach new all-time high prices,
the number of people holding Bitcoin has increased.

Even my friends and family are now increasingly interested in investing in Bitcoin. If you do your research properly, I think the number of
merchants who accept Bitcoin payments is also increasing. My advice is to give Bitcoin time to develop, because Bitcoin is a new technology
that still needs time to develop.

Not much of a problem yet there would be no person would just putting out 1 bucks in terms of investment and also fees arent that static for you to tell that
fees are way too high yet making out transfers will really be just a cent in fees when the network  isnt really clogged.
Lots of sentiments that do talk about Bitcoin had failed or its already dead but here we are now, we are reaching new heights which does
indicates that adoption is still on the move. Failing word isnt something that you can apply to Bitcoin at the moment.

Big NO. Bitcoin has been growing well. It is already adopted and held by many people around the world. Even Satoshi disappeared, Bitcoin continues to grow and survive. Till now, no altcoins can overtake it, it proves that Bitcoin is still the best one. If Bitcoin is failed, it cannot survive well as today. And it also cannot be the king of all crypto coins.

Bitcoin hasn't failed in fact bitcoin became more powerful throughout its 10-year long life and the future only looks bright for bitcoin. Bitcoin is still developing, more and more people and companies are adopting bitcoin plus bitcoin have a lot of usages now compared to its early days.

We can't say that bitcoin will still reign king in the cryptocurrency market in the future or be overpowered and replaced by a new stronger cryptocurrency. Technology is developing and so as projects, there is a chance that a new crypto project will come out better than bitcoin and replace its spot, and there's a chance that bitcoin will still be number 1. But surely bitcoin will ride along with these developments.

I don't see any failure of bitcoin. For me, it is suitable to be called as progress. Bacl in 2010 when bitcoin started it doesn't have any value or worth because of the idea of risk. Bitcoin have never achieve any way back then. It doesn't have to be success when it comes to first but I think it will take times to progress. But today, as you can see bitcoin became the top vryptocirrency market because of its massive and valuable worth. I can say that bitcoin might ecperienced a lot of difficulties in the past but successfully run over that and able to achieve greatness. Most people today knew about it and I can say that in the past few years, bitcoin mighy be one of the most used currency even in offline or reality.

As a currency, it is true that Bitcoin has struggled to achieve acceptability. And the reasons are well known. High transaction fee and volatile exchange rates are the biggest obstacles to the usage of Bitcoin as a mode of payment. But at the same time, the usage of Bitcoin as a speculative investment asset is gaining traction. Many of the big players have accumulated BTC recently, for the purpose of long-term investment.

If you heard this then you have heard it wrong.
Few years back a person has bought one pizza buy paying a couple of Bitcoins, that doesn’t mean he paid the pizza guy through Bitcoin, he means that at that time the price of BTC was too low and for that reason he sold so many Bitcoins to collect sufficient money to buy the pizza.
And to your question if Bitcoin has failed or not? Then it’s no. I can easily claim this statement if you see the price of Bitcoin.
At last Bitcoins are also accepted at many e-commerce websites and many other popular services.
So it’s time to start a new era.

with a very high value at this time it is clear that only a few people who do have large capital / large traders still hold bitcoin, but obviously most of them only hold more altcoins than bitcoin in quantity. but although altcoins, of course, their prices cannot be underestimated by bitcoin prices, of course.

because of the question of how many people hold bitcoin in your environment, I can be sure there must be, maybe not as big as expected. at most even if you only save not more than 1 bitcoin, but if you collect it with several others, you can be sure to be quite high too.
once again it may not be like the big traders who hold more than a lot of value, although maybe the traders are not as many as people think.

Although the price of Bitcoin is much lower the demand for it is higher from the beginning because traders know that the price of Bitcoin decreases and actually starts rising again. Bitcoin has not failed, the price has come down a lot due to the low supply. But many countries are not able to buy cash with Bitcoin because Bitcoin is not legal. But because of the effects of the epidemic many countries have legalized it. For this reason the supply of Bitcoin has increased a lot from before.

The value of Bitcoin is keep increasing from the pizza story but it doesn't mean in 2020 you can buy bitcoins with what amount you got, like if you got only 100 dollars but the current value of Bitcoin is 24k means you can buy 100 dollars worth of Bitcoin on the available platform then how can we say that Bitcoin became the product for elites only...

Only people failed to realize the potential but still its the beginning so one who is buying right now will get their benefits sooner.

bitcoin is growing very fast and this is really beyond the predictions of many people because it is estimated that bitcoin will only be in the position of the end of the year at $ 20K, but that has passed a few days ago and bitcoin continues to move to try to break the $ 25K.
many predict that this year will be the same as the events in 2017, where after the end of the year, the beginning of the next year will decline. but it is different now that in fact next year is the highest increase that bitcoin will do.

indeed, if to buy bitcoin at a time like this, of course, the risk of requiring high enough funds, it is wiser to wait for bitcoin to make corrections that will be made at the beginning of the year, hopefully at that time we can buy bitcoin to be used as an investment at least we can also enjoy a sharp increase from bitcoin next year.

bitcoin will never fail like it did in 2017, bitcoin continues to move well into the next year. and will show the magnification and power that many have been doubting.

many rich people invest in btc more than the poor , i agree that btc is getting farther from regular individuals but there are still other cryptos that are like bitcoin when it was starting .

if you miss the old times of btc you need to start embracing those coins now before those coins will also end up like btc and then you can switch again from the other . btc failed as a currency but it was successful as an investment asset , atleast it didnt totally failed .

I agree with your insight, in my country, I did observe that the gap between the have a lot (upper class), have some (middle class) and have nothing (lower class) is getting bigger by the day, what I would not agree with you is your second statement that each coin might be the next bitcoin because nowadays, most coins that is introduced into the market are just a weaker clone of the stronger ones in the market, it will be a dangerous behavior because you are prone to hypes that lead to nowhere which could put you into a series of financial misfortunes.

Bitcoin in my opinion did serve its purpose, it is the people that uses it that failed, they never believed that it will go that far and now look at where bitcoin is at.

Poor people might be investing a little but How many of those people are these many?

Look if this composed of 100k people that investing 100-500$ in bitcoin ,How much are those?

No time is losing here mate ,every Year is a New entrance  for each investors ,yeah it is cheaper in the past but the value is continue increasing  ..

So if we are buying now then after 10 years what's the difference when it is a penny?

how can you say that BTC failed as a currency? bitcoin is still a digital currency. aren't you getting the news everyday a new company accepting bitcoin as their payment model? first paypal started accepting bitcoin. now I heard a news that Pornhub added Bitcoin with so many other crypto currency as a primary payment method.
and there are thousands of online retail shops and sevices can be bought for bitcoin.
I think Bitcoin is pretty much a proper currency now. and is not failed at all.

It would be unfair to say Bitcoin failed because there weren't many merchants that accepted Bitcoin payments yet. Even though for
a currency that is only 11 years old, it is very natural that not many merchants have accepted it. Compare that to fiat which has been
used for thousands of years, so we cannot judge that Bitcoin failed. Give 10 more years for Bitcoin to develop and begin to be accepted
by many countries, because I believe that one day Bitcoin will be accepted by many countries in the world.

Bitcoin has not failed and of course it is better than ever. Let's go this way, if really it has failed do you think it would have grown this much? Do you think it will be getting the attention it is getting now? do you think it would have set a new ATH? I don't think so, but because of the value within it, because of the potential it offers and because of what lies in the future, Bitcoin has grown to be the best cryptocurrency. So to the best of my understanding, Bitcoin has not failed. In the aspect of Shops accepting, this is based on opinions, I think I have come across some platforms or shops that accept Bitcoin but can't really recall them, the fact is, the more the knowledge of Bitcoin spreads the more people will come to accept it. Bitcoin is not getting away from anyone or moving to a particular set of individuals, rather it is still open to everyone, remember there was a time it dumped this year, many ignored and many bought, thus it all depends on we humans and what we want.
Lastly, which better suited cryptocurrency will take over from Bitcoin? None because they lack what it takes, and if truly they have what it takes they would have given Bitcoin a run but yet, they are still far below it.

BTC have not failed , its just that it has adapted to this pacing economy

“I cannot say whether things will get better if we change, what I can say is they must change if they are to get better.”
                                                             – Georg C. Lichtenberg

For things to get better and grow , for them to survive especially when it has to maintain its position in economic ecosystem ,
they have to change accordingly and adapt to the market.

Bitcoin has not failed, a failure cannot be recognized and stand the test of time. Bitcoin will not render itself useless will not be taken over/killed by a better-suited crypto project, it's here to stay

Of course, Bitcoin has not failed. On the contrary we have given the original use and also the centralized organizations have joined in the game.

I think that OP's concern comes from governments and any centralized entity that has their eye on Bitcoin.
They had no alternative, we prefer Bitcoin to them.

The current crisis made us see things more clearly and our best resource was Bitcoin and crypto. Because we tested the magic of the internet and saw that we could access the digital money that Bitcoin offers us without distinction, that is the great legacy.

You know that everyone back in the early days was spending their BTC to buy items and anything they wanted right? Bitcoin was seen by most as a currency.
The "pizza guy" was an early Bitcoin developer that was in email contact with Satoshi and perhaps we should start respecting the guy and his decisions.
Not everyone sold too early all their Bitcoins although most did. And then they tried to make more understanding the mistake they made.
The name of this ex Bitcoin dev is Laszlo Hanyecz and he still made more than you from Bitcoin that is calling him the pizza guy.

To the rest that are saying that Bitcoin hasn't failed, I don't think that we can judge Bitcoin by price today. The goal set is 20 years later or more. If Bitcoin manages to keep being an asset as a counter measure for inflation then it will be great. Although, is this what it will be? Or perhaps this is how we see it today and discuss about it.

So far Bitcoin is getting a lot of attention now than in the past and it is being appreciated by some people all over the world. So, I don't think Bitcoin has failed but instead it is getting better now than in the past and if you think how the "pizza guy" just sold those Bitcoin just for some pizza, you might think it was his lost. But, no, without him we wouldn't see Bitcoin this far as today and that's why merchants all over the world are starting to show up just for the sake of someone might have to buy some pizza using Bitcoin again.

I truly believe it has failed. I got into bitcoin back in 2012, and back then it truly felt revolutionary; a group of genuine cypherpunks promoting the name of bitcoin and creating useful services on top of it in order to provide true decentralisation and the removal of banks. Now, here we are, with mining growing increasingly more centralised with ASICs and everyone celebrating the arrival of banks buying up all the limited supply, using centralised services (trading, wallets, etc.)

I really miss when this space was small, and there was a genuine feeling of community within it. I think we all knew this day would come, but perhaps slightly differently. I remember when even on here coins with a 1% premine would be laughed at and die on arrival, and here we are asking for huge centralised teams and a 40% premine can be shrugged off. I love crypto, I really do. I'll never truly leave this space, but I do feel bitcoin has failed to be what it was meant to be.

The wall street bitcoin pump continues. Since this is a zero sum game, someone is gonna be left holding the bag laden with big losses. You know, wall street used to do this in the good old days as well. A 100 years ago the big wall street brokers used to get togheter and agree on pumping some blue chip  stock, then they would dump on retail investors. Pump & Dump has been around for a very long time and is alive and kicking today as well.

The funny thing is the fact that bitcoin isn't even any good by todays crypto standards. If bitcoin came out NOW as a NEW cryptocoin, crypto enthusiasts would laugh their asses off and call it slow, inferior and insecure compared to the best cryptotech we have in 2020. Put simply, just a shitcoin.
Most people here tell a story of bitcoin not failing because the price is rising, there is no correlation there, what will the same people say if the price drops hard?

Go figure, it's a crazy world out there.

 :D :D :D

That Pizza think becomes only controversial when the price of Bitcoin grows hugely high specially in 2017 ,But without this increase ?the Pizza for BTC is just another story to tell.

Actually Shops and merchants accepting bitcoin may increase with our help, Tell our friends and family that has business to Study about the potential of Bitcoin as Payment option .

from this we will contribute to the mass adoption.

The problem Here in forum is that ,People keep on asking this and that ,but in reality ?Doing nothing for the future.


Before Asking this and expect answers ,why not try asking Yourself first .

"What have I done for the Future of bitcoin,Do i deserve to Use this?" Bitcoin is a currency Virtually but this is Nothing if we are not Doing our part.

I don't agree with most of your statement. Despite the entry of banks and other wall street giants, Bitcoin has maintained its centralized character. And to claim that banks are buying up the supply is completely wrong. Vast majority of the Bitcoin supply is owned by individual investors and the coins are stored in personal wallets. The banks and other centralized institutions don't even own 10% of the supply as of now.

And regarding premined coins, you need to remember that many of these coins are not doing great. XRP had a 100% premine, and it is almost destroyed now. Many of the other coins with similar premine levels are also going to end up like XRP.

Bitcoin is not failed, Won't fail. We know that 2 year ago bitcoin position is relly good but before 1 year we know bitcoin price too low.  But right now we see that bitcoin price already hit in $20k which is really amazing news. And i think that his position will be increase by increase in future.      

Well said. First thing that comes to my mind is no. And I think that wouldn't change. Bitcoin has not failed in general. It has served it's purpose well especially when it comes to having anonymous transactions and it's decentralized nature. Some may not fully understand it well even if it has been around for more than 10 years already, but great things take time. We cannot push people to like it like we do but eventually, they can also see what we see.

Why do you think it is a zero sum game. Bitcoin will always retain some value.

for the future if you look at bitcoin travel it looks like it will add value to bitcoin itself. we can see that in the past bitcoin was worthless but now bitcoin is becoming familiar. and for the future I think bitcoin will become more valuable and more expensive and can be used for many transactions

Well, bitcoin might be failed to serve its original purpose which is being a currency of course. However, it evolved into something way better which is a tool for investment. IMO, bitcoin never fails but rather it even progressed way better than we could imagine. Remember from a worth of a penny into a grand amount of dollars and from single into a big community. For being notorious or threat and now become a valuable asset for big companies, individuals, and institutions, I think that is enough evidence that Bitcoin never failed.

Bitcoin is not failed. In my point of view, it become more better that it's original purpose. Government doesn't it that's why it's difficult for bitcoin to become a national currency but it developed more than a currency because you can use it as your valuable asset and investment. Aside from that you can also use it as payment method for buying goods and services and for paying your bills. And now the value of bitcoin is still increasing which is showing how valuable it is as digital currency.

Failure is such a harsh word. It has not been accepted in retail, but investors love it. That would make it so so. Will have to see what happens with paypal. I'll give it a C+