Bitcoin Forum

Everyone use to shout and claim that bitcoin and ethereum are the coin of the future. YEAH I accepted that with no arguments.  Bitcoin is classify as a store of value. the same way we classify Gold.
My question is, AT WHAT POINT OR DAY DO WE SAY THAT THE LONG TERM ASPECT OF BITCOIN HAS BEEN ACCOMPLISH?
When do a long term project becomes successful?

I think bitcoin is already successful because of the huge community that it has and there's already a country that had adopted it as a legal tender.
But that success doesn't end there because there is going to be more use cases and adoption that shall come in the future.

You should look at its first year then look at its current state now to know the territory it covers and will continue to cover, those who shouted that Bitcoin is the future ten years ago have what Bitcoin has reached now in their mind, now if at this current time we are going to shout Bitcoin is the future we are thinking of a different scenario, the technology, and the world is evolving, it depends on the time when we preach that Bitcoin is the future.

Yes, a decade has passed and bitcoin is still standing strong.
So for me, bitcoin actually accomplished a lot already and the adoption that we are experiencing today is just the start.
The question of the OP is quite vague though. But I believe, what bitcoin accomplished today is more than what Satoshi was trying to achieve for this invention.
The use case of bitcoin is still growing so the long term aspect in terms of adoption is continuously happening.

I think first we have to define "long term".
Personally, and I know this may not be that popular on this forum but I don't see Bitcoin proving its value (long term) for some time because we have not see enough attacks, or real life events unfold. For example what if one of these global cyber events happens and it renders many peoples Bitcoin investments for a long period of time. Its just a thought.

Short term Bitcoin has proven itself.

I dunno, guess we have to wait and see.

Bitcoin is the only coin that proved itself to becomes worth it to invest in a long period of time.
And here is the most characteristics that we must consider before investing.

• at very first and most important, it should have a fixed total and circulating supply
• Open source code so that there's a trace of developers activities
• The price history should have enough length to prove
• Community activity that keeps discussing the innovation of the coin
• and the last but not least, the true usage of the coin and how it will solve the problem
• Truely decentralized, unchanged protocol

AFAIK, only Bitcoin has this aspect.

when mass adoption is already underway. bitcoin is growing today as the adoption rate of btc continues to increase. and if you want to see a successful project, look at its adoption, a successful project always has a real use. without it, the project will not survive.

Isnt it considered achievement and accomplishment? I think we can say its already there as bitcoin has been adopted within and across the globe. I can say that cause you will hear this in any part of the world. Im sure many believe so. In case you didnt know some country make bitcoin legal. Like the El Salvador that makes bitcoin first legal tender. Some countries follow thru and if you checj out the price of btc way back than now then you can say its very succesful now dont you think?

When it comes to long term project like bitcoin which was initially meant to replace our traditional monetary system, it's when the adoption of bitcoin as payment method, or something that's essential in our lives becomes very common, that already making it succesfull, even I already consider bitcoin of today as beyond succesfull, but for a projects that offers product it's when they have many users that I consider them to be succesfull, after all, adoption by the masses is the most important factor to decide whether a project could be alive for long or not.

I'm sure there won't be a fixed size for every crypto asset. because everyone has a plan for every asset they own. It's up to whoever wants to save for the long term or short term. because we will never know the success that is meant for everyone, in the long run, is also different. until now most people still place the ATH that is achieved as the focus of a long-term asset. but it is not an absolute for all investments.

You don't have enough information, real works to assess quality of a team.

What help you to get your assessment?
Time of course, but how long does it take is enough for you?

Four to five years because it is long enough for one project to go through a full cycle of market, bull, bear and bull again. Weak or scam project will die, disappear one or two year after the bull market ends.

Bitcoin has 12 years, Ethereum has 7 years here and they are still active, have new products, upgrades and big communities. Don't believe in new projects I meant that.

When speaking about Bitcoin, Yes! it established a stronger foundation on the crypto market and a huge root that cannot be easy to remove. however, if we are talking about the other cryptocurrencies then we can consider ETH, XRP, and the other top coins are successful as well since they been there for a long time and they keep developing their project to make their clients and investors satisfied with their decisions. The other coins that are new to the market need to adopt whatever strategy those top coins have done if they want to become successful as well.

Pretty much you already answered your question.
A long-term project becomes successful when it becomes relevant for the upcoming years.
Many long-term projects that becomes just a shitcoin tend to become the short-term project because of the dumps of the investor making the value of the coin go less than a dirt.

The term of successful is applicable to altcoins.

Bitcoin is already running for 12 years now and people have been using it without problem. That is the biggest sign of being successful. It also depends on what parameters you consider as success because it is a subjective scale. If you talk about price then I guess a rise in price from 100$ to 60k $ does sound like successful.

Altcoin projects, these have some mission/vision to proceed with. If they are half-baked and just gambling their name in the market to fund themselves then they are not serious about the project. The first few altcoins did have some sort of idea to run and they are successful. But if you are looking for one in this situation that happened post-2016 ICO craze, then you are looking at the wrong place. Your money would find better output in other investments.

I don't accept that bitcoin is store of value because it's highly volatile, even if price surge higher today there are many who will take profit and the way crypto market is there will always be ups and down, this isn't 100% store if value truth be told

This is not an easy question, and it is because we all have different views and expectations for "long term." Now, in my own personal view, maybe when Bitcoin has already been here with us for 20 years that can be the time to see if indeed Bitcoin has achieved the many things it should have and can be classified as something that is here to stay. Right now, I would not still consider Bitcoin to be solidified on its footing as there remains to be big risks and challenges ahead. Still, I am hoping that eventually Bitcoin can be the best store of value and can be adopted by many countries as legal tender.

Adoption rate
no inflation after it will have reached the hardcap supply.
Bitcoin was also being accepted by more and more countries as a legal tender. I think that already explained a lot.

It can be determined when you are starting to see the rapid growth on the community adoption, massive listing, development progress, good news, more support and advertisement from the big name,

I would say they are already the coins of the present. What else more do we need than a currency and method of payment that people all over the world are already using? Every day the fundamentals grow.

What is the long-term aspect of Bitcoin? p2p method of payment of digital cash. I feel like this is already achieved.

I'm not ready to accept that ethereum is for long-term investment. Few years back, people were talking about litecoin in similar manner but now same people are talking about ethereum and in future I'm sure they will talk about some other coin as the future. So, things will change in this altcoin space and you cannot treat any other coin like how you're treating bitcoin.

There might be some good constraints available to conform some projects are for long-term investment but I am always suspecting those things because nothing could compete against bitcoin. If you want good returns for your hard earned capital then you should go only for bitcoin investments.

I think to understand that a coin is sustainable for the long period is to look into it's history, that's why Bitcoin is much more recognized as a long term project than other cryptocurrencies, it actually has a history that users can look into and understand it's price movements and how well it has accomplished or functioned in accordance with why it was created in the first place; Bitcoin is much more appealing to people cause all the years it's been around, people are aware or can research on how good it has been.

Having said that, many altcoins, DeFi projects, shitcoins do not even have a history to begin with, some are relatively new and are more or less pump and dump coins, that's not to say it's just how long a coin has been in the market that determines it's long term sustainability, quite a lot of altcoins have been in the market for a while, but have zero use cases, nothing to really appeal to it's users, it's a sign that sooner rather than later nobody will own it anymore. Bitcoin passes all this tests highlighted, thus it can unarguably be referred to as a coin for the long period.

even though it looks successful now, it doesn't have to make Bitcoin feel safe and proud. In fact, the success that has been achieved today is the first step to continue to show the world the acceptance of Bitcoin without even 1% leaving distrust in the eyes of the public as an asset for a bright future.

We always try to make sure that this doesn't make the community feel that it's greatest than the rest. keep doing what can still be done, and show what Bitcoin really needs to show in order to continue to be accepted by the middle and lower classes. so it's not only in the area of big institutions and whales that Bitcoin is king. but can touch all the circles under them and can coexist on an equal footing.

Erase the term 'guaranteed' from your mind when you dealing with crypto projects even BTC, there is nothing to fall back on if things go side ways, there is no one to take responsibility that's why crypto have zero guarantee, and again crypto isn't a 100% store of value because of volatility

Btc is more than a decade now what other point could be more valid than having a project existing for more than 10 years without knowing the brain behind it and yet it has developed and expanded so much, at the moment it is safe to say btc has passed the test of time and I believe part of the long term goal has been accomplished, btc already survived the crucial part of it's existence, so from now on things are a lot smoother than 10 years ago.

The issue is that every single person will have their own standards about what bitcoin being successful really means, in my opinion bitcoin was successful from day one, bitcoin solved problems that had been unsolvable until it was created by Satoshi and the people that knew about this stuff immediately got into it because of this, it was not until later in which people began to realize the potential of bitcoin, bitcoin is already one of the most powerful currencies around the world and the number of people using it is the equivalent of a big country, if during the next decade we reach the same level of people using it as we would find in a continent then I do not see how anyone could claim at that point that bitcoin was not successful.

Yes, I agree as you say, like those who want to save ATH assets as long-term or future assets and etc.
it's the right way to take steps for the future.
because they really looked at crypto assets before.
such as BTC assets etc.
Now let's look at the other assets.
like BTC assets, their assets used to be very low and now try to see what happens to their assets.

IMO its when Bitcoin used and adopted by mass countries and people as a payment processor like fiat. Because its the main concern of the Satoshi Vision when he creates Bitcoin.
In that moment, Bitcoin price will not volatile anymore and cant be used as long term investment.

It had accomplished a lot and we're not yet seeing the full potential that it can do. If satoshi can see wherever is bitcoin right now, we're sure that he's proud of his creation and what's with bitcoin today. Yeah, it's more than what he wants to happen for bitcoin.
But, it's also going to the other side for being a store of value and I guess he had expected it to happen.

It is true. adoption will grow circulation from token trading. when it gets bigger than their market has been formed. and all of that is integrated with the product of their platform that works and is acceptable to the market.
for a new project should be a very large long-term opportunity. at least after the first 2-3 years of their product being launched. when they can compete in the market then we can say we will see how the project can survive in the market for the long term.

when the whole world accepted bitcoin completely as a decentralized currency. that's when bitcoin has reached the highest level of success.


to be successful, first the project needs users and their platforms already adopted. this is essential to achieve success.

We are just being optimistic on every project, but there’s no guarantee on that it just that BTC and ETH are already here for years and the trust of the investors are with them already especially with Bitcoin. If we are going to look into a new project, it will be hard for us to tell their success in their future, maybe we can see it on how the project works and improve their platform in the coming days.

There is no such guarantee, even if it is bitcoin or Gold still it has risk to become less valuable than before. But the chances of happening is less since we know that gold existing here for thousands if years so it can be best store of value while in cryptocurrencies the first ever crypto is bitcoin so it has the longest and successful history so people trust it more than projects which doesn't even launch their shitcoins.

Personally I do not like using something like the price to tell if bitcoin has been successful and the reason for this is that even if we know that bitcoin is an asset and as such we need to be aware of its price and its price movements at the same time bitcoin is a currency, and while it is being used to buy products and services the growth in this aspect of the technology has been very slow but it seems that it is finally improving, and once we can use our bitcoin almost everywhere to buy whatever we want then this is when we could say that bitcoin finally achieved the goal that satoshi set for bitcoin.

long term project could be identified as profitable guarantee if they have reall usecase in cryptocurrency market, they could build ecosystem which is connected with other project and their token be native in this ecosytem. Bitcoin now considered as long term investment due its price history based 4 year halving , and for another project you will see another fundamental reason especially did they could deliver product with high usecase in market.

It's still a work in progress like all the guys who believe in, there are still many things that can be done and will be done, it has achieved a lot but still going to achieve a lot, what Bitcoin has achieved is just for the short term the long term is for it to be used as a universal currency and majority of the company are using it, it's still a long way to go for Bitcoin but it will eventually get there.

Havent you seen the greatest developmeny of bitcoin nowadays? The increase innovation and adoption worldwide and the entire awareness on how to use it as asset value and online payments.

With those significant reasons indicates a long term success of a project such bitcoin and other coins like what you have stated as eth.

when it comes long term it doesn't mean that you can hold your money in it how many months or years you want. Always remember that it's still your obligation to keep monitoring so that you can sell at the right time because no one will do that for you.. Market is like a roller-coaster so don't waste the opportunity to gained massive profits.. Keep updated to the coin where did you put your money, so that you will know what's the situation..

when there is no more resistance from the government. the time when bitcoin was accepted and gained worldwide adoption. when bitcoin is used for everyday payments. when there are no more people who don't know bitcoin. when everyone believed in a decentralized currency. that's when bitcoin can be said to be very successful. it will be the biggest achievement for bitcoin. maybe it will be the high point of bitcoin achievement in the crypto market.

Even in stocks there's no guarantee as well, the company could go down very fast and that is a market which regulated heavily unlike crypto.
so don't expect too much like a project being guaranteed in crypto but tbh if the project is invested heavily by some institutional investors then it usually opens up the possibility of the project getting sued by that institutional investors so making the project a little bit guaranteed to not do a rugpull or some similar thing.

Of course we all know that bitcoin is a long-term investment, then every achievement we achieve today will be very influential in the future, therefore we must be good at it.
take advantage of any situation and condition, because we all know that bitcoin has a very wide network, including domestically to overseas.For example, what has been done by the country of El Salvador by adopting bitcoin as a legal transaction tool in their country

So, a long-term project becomes successful when at the beginning of the project there was a time projection and there was speculated on how many people would use and talk about this project, in addition to the development itself. What was the plan for the BTC when it reached more than 12 years of existence? Is the amount of people who use, talk and think about BTC higher or lower than planned at that time? What about development? What has the BTC provided and provided so far? In fact, BTC is a timeless coin, I know it's strong to say this, but I've learned that lesson from those years of involvement. As for ETH, I can't say.

For me, it's the community they built and the companies created that revolves around, this what makes Bitcoin very successful in what it accomplishes, but Bitcoin and the community are still moving forward, they keep adding success as the years go by, it will always and will remain the most successful Cryptocurrency to date, it will not stop accomplishing many things.

Correct, when people think of stocks they think of the big ones like Amazon, Apple and other similar companies, but there are many other stocks that are similar to icos and as you may guess those companies can disappear overnight, something very similar to what we see with icos as well, so people need to never think of guarantees or that an investment is completely safe because this is never going to be the case regardless of the investment which you choose to put your money on.

It depends on what a coin or token offers. Bitcoin is extremely and can develop into many things. Will it ever be the alleged electronic cash system? I think so with more development.

For other tokens it is different. They often have a very specific value proposition. When that proposition is fulfilled we know the project worked out. Let's say there is a project that claims to put all health data on the blockchain such that every doctor around the world can access it with your agreement. The claimed aspect for that blockchain is fulfilled when indeed you can go to any doctor and provide your health data with your consent.

Success is even a different story. Success also sounds more like long-term. If you can pay with a crypto card in a store for four weeks but then the system fails, it wasn't successful to me even though the project temporarily delivered upon the promised value proposition.

For me, it's two things, how large are the community and its standing in the market, this is every coin's goal to build a huge community and land in at least in the top 10, these two are not easy to attain and it will take time and effort but with the two coins Bitcoin and Ethereum they are both ruling the market and they both have a large community.

this depends on the project. many projects have good plans and roadmaps but are not successful even the coins have no value. I think there are many aspects that support a successful coin. like the developer. adaptation carried out, partnering with exchange. These things definitely require big capital. if the project is handled by a great developer with a large capital it is very likely to be successful.

In this case, the OP is asking about bitcoin specifically.
In my opinion, bitcoin already achieved a lot as it survives for more than a decade in the market.
And nowadays, more institutional investors and big companies are into blockchain technology. Thanks to the creation of bitcoin.
So yes, the long term aspect of bitcoin has been accomplished already and we are already enjoying the benefits of it.

I think we can say that bitcoin has achieved most of its goal already, bitcoin is a currency it is also an asset and now it is even legal tender, only on one country but it is the beginning of a tendency, it is also one of the most important currencies around the world, it is becoming a store of value and slowly eating away one of the uses of gold, so while I think we still have some work to do the stage is set for bitcoin to make huge gains in all of those aspects during the next decades.

sathosi could create bitcoin with its several feature key to againts and create new economic system. with limited supply and low transaction fee bitcoin could be new economic system which is no one could controll or manipulate it. adoption in real market now done step by step and many giant institution add bitcoin as assets in their balance sheet. this is will make bitcoin greater than previous decade.

The interesting aspect about Bitcoin is that it worked kind of top down and not bottom up. Usually for a currency to become legal tender it gets established by a government, declared legal tender and people have to use it as such. Or, they don't have to, but they don't really have a choice.
In this case Bitcoin was above all nation states and their governments and they couldn't do anything about it. Bitcoin made it so far that even without being produced or established by a government, the first governments decide to make it legal tender. Satoshi must be a very proud dude! ;)

Is it true what you say? if it's true, then I also want to see the evidence so that my heart can be a little happy with what you said because it can make the cryptocurrency market conditions even better than the current conditions.

thats hard to determine if we are talking long terms because the future is unpredictable .
a project can run good at the start but later they could collapse because of some problems . it can happen too with btc but that is less likely .
btc running for 10 years is an acomplishment what would be next to achieve is when all countries legalize btc and all people knows how to use a btc .

I personally will say that no one can guarantee it.
we already know how Bitcoin progress so far, from 2009 to right now. Its bottom and top prices are there and we can see the progress of Bitcoin in every market period.
there are many predictions and also expectations about Bitcoin, analysis, and also arguments.
however, can that guarantee? No, we cannot guarantee, the guarantee means it is right at least almost 100%, but in fact, we cannot predict the future exactly. there is no 100%.
However, should we really need that guarantee?
We have already know how Bitcoin, and if we are not sure, just let it be.

Truth to be told that is the way it is supposed to work, it is just that people have forgotten about it because the last time this happened was thousands of years ago, gold and silver became the mains forms of money all over the world not because some of the people at the highest positions of the governments of that time decided this to be the case, they simply won the race for the best assets that could become a currency, and bitcoin thousands of years later is doing exactly the same.

So let's start with What long term projects are?

How do you call them as long term projects?

They need of have long appearances in the market. But how many years are enough to call long term?
2 years, 4 years or even more than 4 years?

I think 4 to 5 years are long enough to call projects as long ones. If they still have developments and partnerships after ,4 to 5 years, they are candidates for list of good projects.

Bitcoin as for me is well-established. It has been through a lot and has passed all the tests of time so I believe that it could stand firmly in a long time. Bitcoin doesn't need to prove more because its legitimacy is too visible. Bitcoin could stand firmer especially now that more adoptions are happening.

if any projects could survive more than 4 years, we could called as good projects and developers team able to build and deliver product to their investors. Not all project could build usefull product in their ecosystem, most of them only survive less than a year and build nothing. This is important to pick a project with high qualification team , check did they have good background in blockchain technology or not.

I also believe that you also cannot answer at what point and day Bitcoin will peak. Why I answer like this, because no one knows when it will happen, whether it's me, you and them.
Up to this point, you understand right?

For investor, it take effect when you start building more confidence and intend to hodl or increase your wallet due to how much profit you have made on the long run. For someone that just invest in bitcoin, it feels the long term prospects has not been realized because when you are talking about a long time goal, it means you have to wait for certain number of years to evaluate this. For project developers, it starts when they realized how much people, individuals and companies are willing to be part of the project