Bitcoin Forum

I stand to be corrected on this;
Without the interference of external forces (governments), bitcoin will last as long as humanity will exist.

See why I insinuate thus;
1. The volatility of bitcoin is a great feature that keeps it flourishing.
2. The volatility is induced by the act of buying and selling.
3. See the ideology; if bitcoin is on correction, there are millions of people seeing it as the best time to buy. Even if bitcoin crashes to $10,000 as many will be anguishing, some will also see it as a buying opportunity, hoping it will climb back to 40,000+.
4. So, in as much as humans remain;
a. Insatiable
b. Opportunists.
c. Risk takers
d. And maybe greedy.
Bitcoin will co-exist with humanity till infinity.

The only ideology that I believe is what truly bitcoin is, "be your own bank and banking the unbanked." That's the true goal of bitcoin in the first place, remove the middle man and deliver the transaction between the buyer and the seller directly.

The first ideology belongs to entrepreneurs who see Bitcoin as a tool and predict the use of Bitcoin applications that will drive adoption. What is clear is that bitcoin gives us freedom in all fields, we cannot deny that the presence of bitcoin makes us more comfortable to store our own assets without any third party. who can manage it..

Technically though the last bitcoin will be mine by 2140, but we really don't know what will happen if bitcoin will go on and beyond infinity.

Just like any assets, there's a lot of opportunist in the market, buying when the price dips and then selling when the price is high. Greed only sets in if you still look for more profits and doesn't want to sell despite like having a 100% or even more ROI already. So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

The price rises as more and more people recognize it, and it will be higher in the future.In the future, satoshis will be used as the unit, so it seems that the price will be'not high'.

I don't think that higher prices can scare anyone! We have many people who start buying at higher prices (what do you think who bought the top at +$60k this time, and at $k20 in 2017?!)! If we can think about Bitcoin at $100k, then this would be a good moment for entering, after all, it's x2 your investment.

Bitcoin is an ideology because it's about economic freedom, about handling your own business on a decentralized platform, where all the rules are the same for everyone! Not just because the price is volatile and to many speculations... Bitcoin stands for something more than just a value, the value that is constantly rising is just a positive return to all early supporters!

It is expected. Basic demand and supply.
Bitcoin for me is the extremely perfectly created currency with preserving its value. It greatest invention of the century for me.
Bitcoin is created just to go up only. And I am very positive that even government can't take down Bitcoin.

The price volatility of Bitcoin has nothing to do with the ideology of Bitcoin.
The main idea of Bitcoin is to be a currency or asset,which is out of the control of any central bank or authority.The scarcity/limited supply of Bitcoin means that nobody can create Bitcoins out of thin air and sell them on the market.The main ideology of Bitcoin is based upon mutual agreement,consensus and democracy not profits,greed,price volatility and opportunism.
Bitcoin will continue to exist as long as it serves it's main purposes-to be a decentralized store of value and a medium of exchange.

The smallest unit of the Bitcoin currency is commonly called a "satoshi".
At $40k per "bitcoin", the cost of a "satoshi" is $0.0004 (4 hundredths, or 1 twenty-fifth, of a penny!).
At $60k per "bitcoin", the cost of a "satoshi" is $0.0006 (6 hundredths, or 3 fiftieths, of a penny!).
At $100k per "bitcoin", the cost of a "satoshi" is $0.001 (1 tenth of a penny!).

I don't understand why anyone would think that a tenth of a penny is "too expensive" or why a tenth of a penny would scare anyone away.

Bitcoin will last as long as humanity will exist even with the interference of external forces. The government can ban and outlaw the crap out of Bitcoin but it will still survive. Bans and criminalization will only hinder it's growth to some extent, but definitely not kill it.

Bitcoin will surely last for a very long time and we might even cease to exist before it does so for now, let us make the most from it and be wise and strategic with our investments. Those traits of a human being you've mentioned will surely act as a foundation as bitcoin innovates more. It is a never ending cycle for humans to be greedy, to take risk, to give up and try again after a long while and to grab opportunities whenever they see one. It might look bad at some point but it is what nourishes bitcoin's growth and it is inevitable to see the world without those kind of individuals.

If the government all over different countries enforce an authoritarian rule, and ban bitcoin from use and heavily penalize those that use them despite the prohibition, I think we will be seeing bitcoin slowly fading out because the punishment is not worth the risk. The ideology for me is that bitcoin is freedom and that anyone should be free to decide how to spend and earn their money.

1.Isn't bitcoin and crypto currencies being very volatile one of the issues? Isn't it because of this volatility, most of the merchants or people are worried about accepting crypto currencies as a payment? Imagine receiving few thousand dollar and within seconds the value drops by 10%-15%. We have seen that happening a lot.

2. Wait for the market cap to grow even higher. We will see it become very less volatile ;).

3. That's not an ideology of bitcoin....
It might. It might not. We don't know what the future tech would be. Maybe we will be using something that has evolved from bitcoin.

It seems you limit Bitcoin in just profitability from the volatility. I am getting hard to understand you are describing Bitcoin ideology or describing the advantages of volatility. It's very true Bitcoin has become the most popular cryptocurrency due to volatility. But this isn't the true ideology of Bitcoin. You just skipping Bitcoin technology and how it has been helping payment solutions.

As we can see many merchants have been accepting Bitcoin and a few merchants wondering to do so. So by using Bitcoin technology we can make a secure and easy financial environment. You can send money anywhere in the world where the internet is available within minutes and without any involvement of a third party. That's what would keep alive Bitcoin. Volatility isn't really helpful to keep Bitcoin alive.

when bitcoin was first circulated, humans have bound to bitcoin...

nothing can erase bitcoin from this world, except the internet is completely absent. if anyone says the government can kill bitcoin then that person is an idiot. bitcoin has become immortal.

The market always have it's own way of correcting itself to balance the inflow of price.

Retracement is the correction part of the crypto market that tries to balance the buying and selling of assets when price is over bought or over sold. Crypto traders should be familiar with retracement whenever the market price as really gone high, coming down in a short while known as Retracement to make sure that price is not too over sold or over bought.

The major reason of the existence of Bitcoin is to maintain a fast and fair transactions without the stress one has to undergoes before cashing out their own funds.

Unless world war III starts and nuclear throws between countries, then you will not be able to access Bitcoin in peace. Unfortunately what we are witnessing is World War III with a version of the trade war that is trying to take the centralized economic system. Bitcoin as a judge will certainly remain as long as the court is not closed due to the pandemic.

First, no one knows how long and the limit to what point. Second, we are not fortune-tellers who can predict one day ahead, we are not even sure to say tomorrow we are still breathing or not.
Let everything run as it should, most importantly while you have time, use it to grow the spread of Bitcoin to all corners of the world, and let people in the countryside know the name Bitcoin.

Right from the start, let's apply the evil gubbermint tinfoil.  ;D But I thought governments couldn't stop bitcoin, so...
And one more thing, I love the fact that you called them external forces, what could be labeled as "internal" forces?


Let's assume the current system dies, so since there is no more $, then there is no volatility right?
Meaning that bitcoin will stop flourishing and die alongside fiat, or am I missing something?


Nice to hear that we only need a few of the seven deadly sins to keep bitcoin alive /s


Because that's the main focus now, that's why taproot went almost unnoticed and that's why even the LN is not the main source of news but when somebody points at a company buying and storing coins we have a flood of news and topics and posts. The utility and improvements in utility are not creating hype anymore, everyone is focused on the price and that's all.

Bitcoin was doing its job of sending money, transferring money, storing your money safe even at 30k$ but everyone was in a dark mood, now that we're back above 45k$ everyone is optimistic again, it's clear that we have shifted away from the things mentioned in the whitepaper, rather than using it to storing and transferring wealth safely, it is mainly viewed as a source of creating it.
Anyhow, nothing that can be done, just sit and watch how this unfolds, trying to make the best of it.

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet.
I believe Bitcoin existing will last longer even the government try the best to damage and try to stop it, because it a freedom to make a transaction easily without no stress.

So you are saying that Bitcoin can't disappear because it will forever be a speculative vehicle with cyclic market? I think both parts are incorrect. First, Bitcoin could stop being so volatile and cyclic and turn into a "boring" asset like gold eventually when people will stop panicking and fomoing as it will lose its novelty factor. Second, being a speculative vehicle alone is not enough for it to survive forever. People could tire of it and find other markets that will be more fresh and exciting.

Humanity is very bad at predicting the future, 100 years ago people imagined today as the world of space colonization, flying cars and robots, but instead we have smartphones and internet. You can't be sure that Bitcoin will survive even 50 years, too many things can change.

There is no infinite in this world, everything has an end and a new one will come. But I believe bitcoin will last for long because of supply and demand that drives through to become the most valuable digital currency in our generation. What I love in bitcoin is FREEDOM to use, to spend, to earn and to keep without any third party.

To give further ideology for bitcoin is freedom, it's all about financial independence and not being controlled by anyone who's in power. You're controlling your own money without not depending on any banks that's being regulated by someone who manipulates the interest and profit.
With Bitcoin we can do everything, without any hindrance from growing because your reward will just come without any expectations.

Yeah, there's no infinite but with what OP is saying is all about its existence until it can for a long time. We don't have any numbers when it will stay but it's good to stay as long as we live.

Technically, about quantum computers. It's said that it's one major catalyst of bitcoin but aren't there quantum computers already? and I just leave that technical side to those who are knowledgeable than me but it's all good, bitcoin will last and even government intervenes. They cannot do with its growth and if a certain country bans it, they're delaying or stopping the growth of their people instead through bitcoin.

What do you say about the freedom that Bitcoin can give compared to other currencies, could be the Bitcoin ideology that many people like.
Because of the financial independence that Bitcoin can provide, it has been expected by many people long ago. Finally we can all feel how to
control our own finances without the need for bank intermediaries. This is an advance in the financial world, which is usually always controlled
by banks. Therefore I am very grateful to know Bitcoin, because it can fulfill my desire in the financial sector, but unfortunately Bitcoin has not
received full support from the government.

There are more external forces that could interfere in bitcoin besides solely governments. Even natural cataclysms could affect the existence of bitcoin. Things are constantly changing and nothing lasts intact forever. Bitcoin is a great currency or asset for now, but nobody can predict the future accurately, so it's impossible to say what will happen to bitcoin in a century or so.
I see the points you presented in bitcoin favor are all double-edge swords: volatility (from market and investors actions), opportunism, risk, greedy. It means they help bitcoin sometimes, but they also prejudice it in another times. These factors aren't enough to sustain bitcoin is going to thrive in price and adoption for an undetermined period of time.

As the article describes it, I keep it as the principle of bitcoin.
I also respect OP's opinion because we know that there are investors in bitcoin with the idea of ​​amassing fortunes.

For my part, I am on the side of the unbanked, who despite having bank accounts most of the time are empty because I use my local currency only when I need to go shopping for groceries and supplies from my home because the rest of my money is in bitcoin and cryptocurrencies.

Many times I went to my bank to apply for a credit card to buy a PC to study and work and all those times they were denied. Now I can buy any device without having to ask for a credit from the bank because bitcoin and cryptocurrencies gave me the facility to buy them. It has not been for free, I have worked hard to achieve it and with satisfaction I can say that it has been worth it.

Volatility is Bitcoin’s great feature, really? High volatility only attracts greedy people, and nothing good can come out of that. With more risk-takers who only see Bitcoin as an income source, it will eventually become a playground for investors. The “natural selection” will work on the market and, eventually, the strongest (aka the richest) will survive price surges and dumps.

Those who favor volatility so much have no ideology and don’t understand the meaning of cryptocurrencies. Eventually, they will switch to shitcoins with higher volatility and smaller market cap, because they only care for money.

Volatility needs to be reduced!

I wouldn't really consider the volatility of bitcoin as an advantage. Coming from the perspective that Bitcoin was created to serve as a currency, volatility seems more of a disadvantage than an advantage. Imagine paying for a product and 3 minutes later, the price pumps and you realized you paid more. Or imagine if you owned a store and you get payment for an item, 3 minutes later, the price dumps and you need to stock up again but you can't because the price dumped and your money has reduced.

Adoption and price will likely drop a huge chunk(albeit temporarily), no doubt about that. But it ain't dying. Bitcoin won't cease to exist just like how piracy and drug use still hugely exist even when governments has already illegalized them since forever.

As Bitcoin’s reputation and value continue to grow over the course of its existence, new investors are entering the cryptocurrency market. Not everyone is here for ideological reasons, however, nor should anyone expect them to be. Many Bitcoin users were lured into the market by romantic stories about overnight Bitcoin billionaires and false promises of get-rich-quick schemes. Conversely, many Bitcoin users are individuals out of range of any significant banking institutions or living in countries experiencing inflationary crises.

I absolutely agree that Bitcoin is not likely to depreciate any more. There are so many people who really trust this system. We invest in it, we use different projects not only on Bitcoin, but also on other blockchains, so the crypto market enlarges really rapidly. Also I believe that Bitocin is likely to replace fiat money one day, as it is really easier to use it instead of the bank system.

In my own idea bitcoin is a tool and people can have different ideologies depending on their situation and their need. The most popular ideology is to remove the governments, third parties, and any other third element from the transactions you make. In other words, people can have economic freedom, the times before bitcoin was invented there was nothing like that and bitcoin gave this to humanity. Bitcoin is a technology and we all know any technology should be adopted over time or get expired and I think due to the demand of bitcoin it will be last long for years and will get adopted.

In my own idea bitcoin is a tool and people can have different ideologies depending on their situation and their need. The most popular ideology is to remove the governments, third parties, and any other third element from the transactions you make. In other words, people can have economic freedom, the times before bitcoin was invented there was nothing like that and bitcoin gave this to humanity. Bitcoin is a technology and we all know any technology should be adopted over time or get expired and I think due to the demand of bitcoin it will be last long for years and will get adopted.

The ideology you gave is actually on point, though it may sound like a double-edged sword but that's actually the point on why there's a love-hate relationship with Bitcoin and the people, also, volatile may seem to be like a villain and a hero at the same time, too much volatility is indeed scary but we can't control it either can we? The thing is, Bitcoin will be here to stay, more and more people would engage in crypto, but fiat won't go away either, we have options.

Not everyone is fan of the volatility of the market, this is why we still have many people that are just indecisive when they first bought their coins here in crypto.
And yes, the volatility still comes from the buying and selling, AKA supply and demand, but because Bitcoin is so accessible almost everywhere, everyone in the world could just be whale and cause the price to be manipulated.

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Can we also count aliens?  :D

Yes, government, natural disaster like covid or something worse I termed external forces. We can consider developers, miners, traders and investors as internal forces.


I agree with you, humans even with the aid of technology aren't good in predicting the future. Maybe Nature takes it's course. Very many changes could happen in the future, but blockchain technology still has along way to stay with humanity.


It's becoming obviously that the currency purpose of bitcoin will not stand the test of time. Infact, to me I am no longer seeing bitcoin as a currency for routing exchange. It's an asset or a store of value to me for now.

Well, you could say aproximately the same things about a number of stocks as well. The thing is that the fundamentals should stay the same. The risk of buying Bitcoin would be immense if there wouldn't be an underlying, functional, worldwide and decentralized network that enable us to make payments. Moreover the limited supply is playing a big role here. You see.. if Bitcoin would be flawed nobody would want to own it.

What is described in the OP are basic human emotions, but those are not the only thing that characterize market movement. Professional investors & traders who have access to much deeper pockets than retail traders do (which base their decisions on emotions) have the biggest impact on the market. My point is that rationality is dominating the investment decision process of the pros and not the emotional side of the brain.

it can be said that the ideology of bitcoin when it first appeared was, wanting to achieve the target of being able to become a digital currency, even to be able to make a currency that can be used to buy our daily needs, in my opinion that is the first ideology of bitcoin, but about investment assets etc., it's just for the side, because people think investing in bitcoin can get more profits, so many people do that..

The government is just a group of leaders who sits in the corridor of power dictecting what happens in economy or not. The government in a democratic society involves both does in authority and it's subjects meaning for bitcoin to crash involves the agreement of both parties even if those in authority decides to place a ban on it, it will take the implementation of both sides to see it's effected in the case where the subjects disagress then it will still be operative but not as a legal entity.

The volatility of Bitcoin makes it very interesting to trade because there will be constant participants entering the market every single seconds knowing that the market must surely move will great activities. The Bitcoin market can never be compared to Fiat with so many differences that segregate them.
✓ Fiat is controlled by government while Bitcoin is not.
✓ Fiat is stable with tiny movement in price while Bitcoin is versatile.
✓ Fiat can not be used as an asset purposes because it doesn't appreciate in price compared to Bitcoin.
✓ETC.

Really you are making a point, it's very clear to everyone that bitcoin management can't be compare to Fiat management through banking system whereby before you can assess it you most passed through someone as you said initially, bitcoin is a currency that only you have access to penetrate into it when you purchase it or when needful is required, the freedom we exercise via cryptocurrency entrepreneurs is not the same via manual entrepreneurs, because right now and through my observation I'm seeing that bitcoin is becoming the hope of a man.

To me, this all sounds like the ideology of a speculator.  Not the overall ideology of Bitcoin.  When satoshi conceived this, I sincerely doubt their first thought was "how much fiat could people sell this for?"

Greed was an element within satoshi's thought process, because they recognised the incentive to secure the chain would be a vital component.  But I don't personally recognise 'gambling on the price of Bitcoin in your preferred national currency' as a crucial part of the formula.  Even if you weren't actively buying and selling for fiat profits, I'd still be able to send transactions that cannot be blocked or reversed.  

Bitcoin is a decentralized digital currency, without a central bank or one administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. [7] Transactions are verified by network nodes via cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was created in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. [8] The currency came into use in 2009 when its implementation was released as software

Satoshi first created BTC because he wanted to get people's fiat by offering different things and being a solution to the rotten centralized economic system.  The intelligence of using blockchain is one of the advantages that until now has bothered financial authorities in every country and finally made their version of the rival, the CBDC.  Speculative ideology is one part of it because the function of currency is speculative.