Bitcoin Forum

Bitcoin is dying and you could be among those who are killing it. In 2010 Laszlo paid 10,000 bitcoins for a pizza. We all know this story but how many of us understand it? Do you think Laszlo didn't see potential in Bitcoin? He could have hodl and sell it off, but, he made that transaction to prove a point; to prove that Bitcoin is actually a currency. But since the price skyrocketed, only a few care about the sole aim of the currency. Everyone is "buying the dip", or "Investing some $$" in Bitcoin, and that is killing Bitcoin. The average person today sees bitcoin as an investment. Are we really turing this Cryptocurrency into a Crypto Asset?!

A way of making more money due to the price speculation. With every new investor believing this, I hate to say this but, Bitcoin is dying. I know that the chances of Bitcoin's price dropping so bad are small. But if it happens, if it ever happens, a lot of people will lose, a lot will pull out, a lot will tag us scam, a lot will (out of anger) say that we are centralized, and a lot would never know or participate in the real use of Bitcoin. We need to figure this out before it becomes too late.

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

I agree that attention has shifted much from the actual qualities of Bitcoin to its USD equivalent, and that is very much expected, price volatility would surely attract speculators. Also, Bitcoin is still a budding market and it would take a while for it to properly fit into a particular market, there are currently more options to spend Bitcoin through merchants than there was 5 - 6 years ago, so I wouldn't say it's dying at all.

Imo, there is no sole aim of bitcoin, the whitepaper describes it as a peer to peer version of cash and as a payment network, this however doesn't mean it is limited to be used as a currency. It's decentralized and can be utilized in different ways, an alternative to fiat, a store of value, a medium of exchange etc.

Being centralized would mean dictating how people use the coins they own, anyone is free to spend them or hold them as part of the freedom Bitcoin offers.

Eventually, the price will level out and it will become a investment that is as boring as gold.

The OP sounds really stressed out.
Bitcoin isnt dying, if anything it is just approaching its teenage years, it has a lot of living yet to do.

We all know that Bitcoin has become something other than (as well as) a currency but it can be both.
There are plenty of places you can spend your Bitcoin and when Crypto backed credit cards become more
popular you will be able to spend everywhere.

You can Spend, Gamble, Hodl, Trade, Loan and Borrow Bitcoin. Plenty of choice.

The crypto space is moving and even Laszlo couldnt envision it. BTW here is his original pizza thread.
At that time in 2010 he was happy to get pizza for his tokens.

 https://bitcointalk.org/?topic=137.0

On 2018 it's already show Bitcoin is crash since the price is below $4,000 but what's next? slowly but sure, it's recover and now breaking new ATH. In my opinion those who spreading FUD (scam, centralized etc) is some newbies who doesn't understand Bitcoin for sure.

Some merchants and online shop already accepting Bitcoin, it's show real use of Bitcoin as a currency.

Bitcoin could be crash, but the chance is small until there's new technology or has many bad news against it. Also if Bitcoin is dying, other coin/token would be dying to since Bitcoin is the mother of cryptocurrency.

Never thought I will met a weeaboos in this forum :P

The topic is either clickbait or real emotions arising out of the realization that Bitcoin is slipping right out of our grasp and into the coffers of the richest people who are putting millions into it.

Every time I feel like I want more BTC and look at the price and look at my safe limit of monthly buying of a volatile asset, i too wish that all these top hoarders fucking spent it on yachts and women and lambos so i could accumulate more. Yet, these OGs seem to have something else on mind. They keep hodling and the supply on exchanges keeps decreasing.

Each new entrant is willing to pay a higher price.

This has been happening for long enough now. I think those buying opportunities will keep presenting themselves because there is no lack of FUD and weak hands. If you really believe in it, be there to lap up the Sats you can afford when it falls below 20K the next time. Alos, just as @mk4 pointed out, you can use it for whatever you want. I buy groceries with it in a roundabout way as there are no stores that directly accept BTC. I then buyback what I would have spent on groceries. For all of this to happen, we need this secure, high hash network that only Bitcoin offers.

Keep the spirit up. Its not dying and not going anywhere. If you fear people blaming you, always tell them about the technical aspect and let them make their own decision to buy or not, If they get it.

I know a ton of people who are buying dips and investing in EUR or USD. However, it's still classified as a currency. Bitcoin has a lot of use cases and, obviously, some of them are more convenient than others are. The worst thing about Bitcoin is probably the fact that its current fees are too high to be used as a daily currency by the average person, but other than that it's amazing.

As long as there is nothing to replace it with (and there isn't), it's not going to die. In fact, it's only gonna grow.

Speak for yourself. I'm still using it almost on a daily basis, and sometimes several times a day. My income is virtually all in Bitcoin, or crypto in other forms, and I have to sell to pay my bills and stuff. And what I can pay in Bitcoin, I do. I've also spread this usage. Others who were my clients or employers now have switched. We're all using. Sure we save as much as we can, but spending Bitcoin and using it? It's gone way past pizza my friend.

So long as the mempool is crowded and fees are high, bitcoin isn't dying. Lack of usage is what kills things. I do agree with your underlying sentiment that more emphasis should be placed on using BTC as a currency and not an investment.


I understand what you're saying here but do you really believe that bitcoin can be as boring as gold? I think bitcoin will always be more interesting as it is dynamic and capable of a lot of things gold isn't. As far as price volatility is concerned, gold has a several thousand year head start... not sure BTC will ever be as stable in price.

You have a good point about bitcoin forgetting the fact that bitcoin is a currency, and has always been a currency. But this part is not true. Historically whenever the stats come out (like the amount of money or number of transactions that payment processors have handled annually or per month) they always point to the opposite meaning whenever price is rising fast and big there are a lot more people who are spending bitcoin.
For example more people spent bitcoin during 2017 than they did in 2018.

Haha thats the funniest shit i've heard. Do you think Laszlo knew bitcoin would skyrocket in price? If he did then he is the biggest idiot on the planet to buy a pizza with 10000 bitcoin. He wasn't trying to prove no point. He just wanted pizza one day and had some money in bitcoin.

Bitcoin is an asset and it should stay that way. It should not become a currency, I don't think. It is too dangerous to be a currency. The crypto market is just a hyped up version of the stock market. This is how i see it.

It died 10,000 times already, get over it.

38k on this time. died again. LOL ;D

Same as the death, it has experienced lot and lots of resurrection. This means death of bitcoin is eventual, as the same is the growth. With time it'll overcome and reach big, if bitcoin had died, now grasses could've hidden the place where its been buried.

BTC are similar Phoenix from your words)

I don't think bitcoin will become boring as long its major characteristics are still there. One major of it is that it is decentralized and that means it lacks regulation which makes the price not being fixed. This will make it a continuous volatile asset.

We have the rights to deal with our belongings however we like right?
Same goes with the holy crypto ‘Bitcoin’ .
Some people spend the coin anytime they want, some store and some just trade.
And does this action kill the coin?
Rather it would be harder to transact every time if we think it as a currency.
We need to pay tx fees everytime when we will use the coin. So according to me it’s better to hold.

I'm personally not really a weeb, but I syre know a good chunk of people who are.  ;D

To those who wants to see a list of when Bitcoin was pronounced dead, check this out: https://99bitcoins.com/bitcoin-obituaries/

I think you are just thinking too much my friend. Just let the Bitcoin economy works there is no problem regarding the rising price of Bitcoin in fact it was a sign of growing Bitcoin demand so in my opinion there's no reason, for now, to worry that Bitcoin will die. just ride with the flow and dont counter it.

That's the problem since about 2015 or even before, people are only interested in Bitcoin for the speculation and not for the real use cases.
It also annoys me because I think speculating is the cancer of the economy and the mistakes we have made with traditional currencies, (or I should rather say the finance generally speaking) we replicate the same thing with cryptocurrencies.

On another side, if you think about it, with traditional currencies, there are people who :

- speculate on for example USD/EUR,
- others who save money on a saving account,
- others who invest in the CAC40, gold, crowdfunding, etc.
- and of course, live with it (pay to the supermarket, bills, etc)
 
With Bitcoin it's the same thing:

- some people speculate on BTC/Alt
- others save with staking
- others invest in companies.
- and some live with, although this remains marginal

So finally we have the same uses, it's just sad people don't make use of cryptocurrencies for their daily needs. At the same time, the ecosystem isn't enough developed for this. We can't pay our bills directly in BTC, we have to sell for fiat, transfer to our bank account, and then to pay.

Surely once this is possible we will see more people using cryptos for what it was supposed to do. I believe the decentralized nature of Bitcoin will play a major role and it will become the biggest benefit to attract the mass (for something other than speculating)

Obviously, the user you referred to  laszlo (https://bitcointalk.org/index.php?action=profile;u=143) didn't know Bitcoin would be this big today. He said it in one of his comments. Laszlo first made the call for the pizza trade you mentioned in this forum according to this post Pizza for Bitcoin (https://bitcointalk.org/index.php?topic=137.msg1141#msg1141) but never got any member to buy it. At a point, he asks "So nobody wants to buy me pizza?  Is the bitcoin amount I'm offering too low?" And then went ahead to reveal that he just wanted to put it on record that he bought pizza with Bitcoin and not that he was pizza crazy. It was a fun thing for Laszlo. He later sold it outside the forum a few days later.

However, I am sure (given the present circumstance) he is harbouring an element of regret at the moment somewhere in him for flushing away 10,000btc. In today's worth, it's 10,000 * $38,000+. Even Bill Gates would be envious of such huge stack. Also, remember the tides have tremendously changed. Then it was as easy as ABC generating lots of BTC rewards with simple mining machines. Not any more.

laszlo, a miner and programmer, was a member of this forum in its early stage from 2010 and they became inactive in November 2017.

Yes I agree with this, Yes Bitcoin was created with some purpose to be a currency but along with it there are various ways to use it and we all have our own freedom to use it as however we like just like what mk4 has stated.
It is the same as money(Fiat) why do we need to care on how people use their own money when they are the ones who worked for it?
We think too much about it and have so many opinion on it why can't we just let them do what they want.
I think it doesn't matter whether it is crypto(BTC) or physical money (Fiat) people would always judge on how other use it for example,
Someone bought an expensive item even though he/she is just earning minimum wage.(People would create gossip and talk about it even though that person save up his money just to buy it to enjoy it).
So you see it doesn't matter whether it is in crypto or Fiat people would judge others on how they use it.

There's no point of over-dramatic clickbait forum posts about how Bitcoin is a "investment asset" rather than a currency.This topic has been discussed a lot and I'm surprised that there are people,who keep whining about Bitcoin being asset instead of a currency.Instead of whining about Bitcoin,why don't you just stick to some altcoin and use it as a currency?All the crypto enthusiasts have choice.Having a choice is something great.
The 10,000 BTC for a pizza happened in 2010,and the whole point of this transaction was to prove that Bitcoin can be used as a currency.Nobody in 2010 would imagine that the Bitcoin price would reach 40K USD 10 years later.

LOL! I am not stressed out one bit. I'm just looking at the present image of bitcoin using a microscope. You can spend bitcoin, yes, we all know that. But how many people spend it? Everyone is hodling! Wait for the price to go up, so they can exchange for fiat and purchase whatever they want. It's turning out the wrong way.


Also, I've seen some comments relating to me saying that Bitcoin is dead. Let me say this, based on my meaning of the sentence, Bitcoin can be at $50k and still be dead. How? As far as something isn't used for it's original purpose, it ceases to exist in that form. So, Bitcoin being dead doesn't mean it's price. The only reason one would think that it's the price that I was referring to is if you also considering Bitcoin as an investment rather than a currency. No offence... My true thoughts.

This is not a new phenomena that started today, once the scaling talks started a few years ago before the last rally people started considering BTCitcoin as an asset rather than a currency. It depends upon the investor what mode you want this to be, you can use this as an asset or you can spend according to your choice.

Have you seen the last two rallies and how a correction wiped off billions once the bear market is settled. It is nothing new in the market to get the tag, it is called a Tulip mania multiple times and how many times people would tag the same headline. It is a speculative market and you will see major corrections and it will continue to move forward.

You see, you just called everyone who purchases bitcoin an "investor". Today, if I buy some bitcoins, people will say that I have "invested" in bitcoin, and that isn't totally right. I believe that this currency was created to be used as a currency; Just like you spend your dollar. The point is, with the mentality of "investment", we could crash this plane. If by any means, the price crashes, the investment (Bitcoin) crashes too. Also, I think that it Bitcoin was around $100 rn, I think people will still see it as currency. I guess it's because it's shown characteristics of a investment.

Bitcoin was designed as indestructible payment network that does not rely on its users to selflessly support it. If Bitcoin could be destroyed by just trading it, then this whole idea is a failure.

Bitcoin's speculation and volatility are a direct result of its most basic principle - complete freedom for its users. You simply can't tell other users what to do or what not do with their coins. Even if you somehow convince Bitcoin community to stop talking about the price, it won't change anything, because people from outside would still use it as investment.

It is too early to say Bitcoin is dying mate. If you look bitcoin early days, it was limited to only cryptographer. Now more individual and institution holding bitcoin. Don't worry Bitcoin will survive until we die because last Bitcoin will be mined on May 7th, 2140.

Yeah, bitcoin is dying to those people who see only exclusive uses for the cryptocurrency. They believe that the reason why bitcoin is created is being wasted away by it being mainly used as an investment and nothing else. But the reality is there are tons of people really wanting to use their bitcoins for purchases despite its high potential of being a top-performing asset, it's just that the merchant's side of things isn't really opening some doors for this particular scenario to happen. That's why bitcoin and other such cryptos would remain to be a speculative asset at best, until such time that merchants finally give in and integrate it fully in their structure.

The space isn't ripe just yet for the kind of adoption that you're seeking, though hopefully we'll get there.

Bitcoin is not dying. Bitcoin becomes standard now after the cost can break the boundary at $25k and still increment up to this point. Perhaps Laszlo saw bitcoin's latent capacity, and he needs to show us if bitcoin can be utilized to purchase something, all things considered. Yet, as the bitcoin cost isn't too high that year, he needs to spend a colossal measure of bitcoin. With bitcoin cost expands, you just need to purchase Tesla with just under 10 bitcoin.

I get your point. In my opinion with the current market of bitcoin, bitcoin now had already evolve and bitcoin now will not be consider as a new digital currency for it is already spreading all over around the world. The point where bitcoin will be had two options either bitcoin will continue to rise or as what OP had said that btc could be dying already after all the greedy people trying to make money in it and that will reap bitcoin system maybe now or might be in the future. Well, no one will going to know what will going to happen with bitcoin.

Nothing looks like dying in Bitcoin (it is a revolutionary technology), just stick towards the core aims of the technology and ride on with it. Due to it freedom for it holders; i decided to make this technology one of the platform my investment will flow into, if it mean dying let die together than to enjoy the strangles from the world governments around the world.

Some people, traders, or investors not thinking like you. We all know we can not earn well from a stable market. Traders or investors earn only when the market is volatile. This is a highly volatile market where most of the traders know they can lose too. We should not afraid of those people who say scam when they lose we must be mature enough.

I'm pretty sure a lot of people do spend their bitcoin; it's just the fact that not every bitcoin holder does. Why? It's not like we can currently spend it everywhere lol; we can only mostly spend it online. Merchant adoption simply isn't there yet.

Bitcoin could be 100% used as an investment/store-of-value right now and I wouldn't call bitcoin "dead". Just a reminder that Bitcoin shouldn't be used solely for what Satoshi described it, just how Onion routing was invented for U.S. intelligence but yet here we are using it for privacy purposes.

the reality is that most people are really in the world of cryptocurrencies to make a profit. most people will not take 1 BTC which is now worth 38000 $ and buy a car when they can do hodl and in 3 years' time make a profit of 2X or 3X, the person will prefer to use FIAT to buy car or even may prefer to Loan in the bank to buy a car while hodl your 1 BTC. the problem in all this is that the price is really increasing, but it is not increasing the number of countries that have legalized bitcoin and that allow bitcoin to be used as currency. I think that the destiny of bitcoin will be a means of investment, not payment method

Bitcoin supply is limited. So, for now, everybody is trying to invest in it. If BTC succeeds in proving itself, a currency with such fundamentals will be the most useful currency of the future. It may seem like it doesn't serve its primary purpose for the moment. But let's not forget that it takes a long time for people to accept this change.

This will not be the first time bitcoin will reduce and this does not mean bitcoin is dying. and this is because of the volatile nature of bitcoin possess.
And with the rate to which awareness into bitcoin we are good to go

Bitcoin is just not for investment and neither it just needs to be used for exchange of goods and services. Though the usage is less that is due to not many countries have completely legalized it. So, people are sceptical to use in their daily life’s and thus majorly being used for investing purpose and nothing wrong form their side too. This is giving them some profits so it’s an additional revenue for them. Also, merchants need to accept the bitcoin against their service and they are not ready due to lack for proper rules.

I couldn't agree more.

No matter how we use Bitcoin, it is still going to the point where its price is going again near zero, its going to be devalued, because another cryptocurrency is going to replace it, but we're too far from that. Bitcoin is just dying in OPs world, but never in the majority of us. Spending it wherever you like doesn't matter, because it was made that way, to be a digital currency that can be pay on any goods or services, and that's what happening now.

Even I thought the same when BTC price went down to this week after recovering now I believe the next resistance level could be 50k and that's the reason I think it was struggling, despite a major drop it is once again proving it's capability.

There was a lot of panic sell before few days and I think that's the game of big players, a lot of investment are pouring and more to go guys a life changer for sure but enter at the right time for investment don't get struck.

At that point it will be even more useful as a currency.  People will start to spend it, use it, and transact in it, not having to trade out to fiat.  Whether that point will be $500,000 or $5,000,000 is an open question, but it will probably be in that range. (Excluding of course the effects of inflation which will make it higher). The sooner it gets there, the better for everyone who owns it, and most importantly, better for the world.  Bitcoin takes power from those who have used government to seize it and gives it back to the smallest minority in the world, the individual.  

As above, to the OP, bitcoin is freedom.  Every person can use it as they wish, however and for whatever they wish.  Bitcoin isn't about "control" or complaining about someone using it in a way about which you don't approve.  Don't like it?  Too bad.  

there is a time, indeed we cannot prevent everyone's various points of view when considering bitcoin. not only as an investment, a medium of exchange, and a storage of assets in order to avoid inflation of their money.
in this case very much is said to be freedom, because the original purpose of bitcoin is a form of freedom in managing finances without third parties. and the fact that those who manage have different goals and desires, according to their individual needs.

this is unavoidable, even though that we will be branded as a scam user etc. Since bitcoin is so widely known, it cannot close its access with a tap of a finger.

I don't think "dying" is the right description to use. Bitcoin is just progressing as an asset faster than as a currency. There are now many retailers and service providers accepting bitcoin as payment. We just don't hear much about them because the news is focused on bitcoin's market performance and I think we are promoting bitcoin either way. And it's not like we should stop doing one to give way for the other. Neither is getting in the other's way. So instead of viewing investors' obsession for bitcoin as "bitcoin killer", maybe we can leave it at that and just increase our efforts to use bitcoin as a currency. 

this is the only currency that i know that is dying but growing in price but dying is the word for that ? sounds strange because the true meaning of dying is when everything goes down not goes up .
those that who invest on btc are not killing btc but they are making btc alive and more lively .
 we didnt under estimate the pizza guy because we know he did it for a reason and btc was cheap that time thats why he paid thousands of btc for just a pizza  .
thanks to him , now btc is prove that it can be used anywhere .

I'm not sure if you do.

Be your own bank doesn't imply that you have to spend anything.  It implies much more than that.  Take a look at some of the things Satoshi said.  (As an aside, I will say that Satoshi's vision would be irrelevant in a p2p system anyway since people are free to use it as they wish, but his vision was not limited to merely commerce, but to the impact bitcoin had everywhere and to say otherwise is a mistake.)

"Chancellor on brink of second bailout for banks" is a comment on the anti-bank, anti-Chancellor, anti-bailout events.  It takes power from the corrupt governments and other entities and gives it back to you.   That power is your freedom to use bitcoin however you want. Bitcoin takes over a function that has been for centuries a function of government - creating and controlling money.  When money was backed by something, government power was constrained.  With fiat, there is little.

Think about these tidbits we have:
- decentralization.  That applies to everything, including governments.  
- Privacy - "As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner."  With taproot and other improvements helping more.
- The paper stresses Bitcoin’s advantages to commerce and people as a free-enterprise payment system. Peer-to-peer transfer is pure free market, with no intervention from governments or anyone else.
- Anti-inflation - see above.
- "Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
- "[Bitcoin is] very attractive to the libertarian viewpoint if we can explain it properly."

- "I’m really excited about the thought of something practical that could truly bring us closer to freedom in our lifetime. :-)”  Satoshi: “Your understanding of Bitcoin is spot on.”

- Satoshi was a fan of b-money which the proposal opens with "I am fascinated by Tim May’s crypto-anarchy. Unlike the communities traditionally associated with the word ‘anarchy’, in a crypto-anarchy the government is not temporarily destroyed but permanently forbidden and permanently unnecessary. It’s a community where the threat of violence is impotent because violence is impossible, and violence is impossible because its participants cannot be linked to their true names or physical locations."


So don't try and pigeon hole bitcoin.

Majority of people in the bitcoin ecosystem are aware of the fact that Bitcoin is a digital currency designed to facilitate online transactions easier and faster. Just like physical money which a lot of people use it for their daily transactions whiles others prefer to keep theirs in the bank, Bitcoin is also used by people for most of their online transactions whiles others prefer to hold onto theirs since there is a potential for Bitcoin to increase in its market value.  Personally, I don't think I will agree with you on the fact that Bitcoin is dying as a currency. I think you don't really understand how the financial ecosystem operates.

Bitcoin is just too big to die now. If thr institutional investors are here tryig to get how much they can grab with the money they have, the higher the price and the more use it could have. You can even use the BTC to pay as the ransom money if someone kidnaps your kid.

BTC will not die all because mostly treats it as investment. Merchants are going to be seeking ways to get some BTC as well, sooner who know maybe majority of stores will also accept BTC.

That's what make bitcoin better than other currency due to its decentralized nature.

The government has nothing to do to have a full control of bitcoin in many transactions that its people are making in the market and in many platforms.

We have financial freedom when we are spending our bitcoin into different uses that we want.

But still it is much better if governments will adopt bitcoin and they will regulate it properly to improve the economy of their country.

It was just a short thought how could it be possible with a limited supply now wouldn't it be even more scarce due to the increasing demand?

From year to year, the price of bitcoin will definitely change whether it goes down or up, but what is clear is that with a limited supply it can increase the value of bitcoin in the future, it is undeniable that we will use cryptocurrency as a transaction currency, even we often use this gradually to be legitimate.

There are many quick and cheap coins, many of them decentralized to make payments. There are several reasons why most people are in bitcoin but the most prominent way people think about bitcoin is a rare asset with unlimited price and hence a good investment. Bitcoin's nature makes it more like a rare collectible value than a day to day transacting coin. And this specific feature would make it survive and thrive for a long time.

Ahhhhh... The whole picture you portrayed makes it a precious Jewell, people are still using it for different purposes. The guy who used 10,000. Btc helped popularise Bitcoin among pizza sellers and a medium of exchange was conducted the whole idea of it being a currency isn't been neglected by different users it just how people find it for different things. People consider it as a safe place for economical freedom so they use their holding abilities as their purchasing power.

You can't still expect the use-case of Bitcoin in the last 10 years to be the same, it is has grown, expanded, loved, invested in, believed in and it is changing our day to day economy and lifestyles. There is no human on Earth currently that would throw off 1000 Btc on a single pizza like that guy did 11 years ago. As it grows and more people find interest in it expect them to use it for different reasons.

Why you guys can't accept that bitcoin is multi-purpose, as a currency, and as an investment or medium of transfer/purchase. And to say that it is dying, welp, you're not the first one to say it.

It's been said dead so many times and based on this bitcoin obituary, it's been said to be dead 394 times. That makes 395 with what you've said.

https://99bitcoins.com/bitcoin-obituaries/

Really it's obvious that your upset concerning turn up of people into cryptocurrency, many people are not into bitcoin because of its speculation in Price neither because of its profit in investment aspect of bitcoin, currently I comprehend that some persons adventure into these because of security purpose of their money using their capital to purchase bitcoin due to insecurity in bank, looking at it technically it's very clear that bitcoin banking or storage is more preferable than fiat banking, so their is no atoms of signs that show's that btc is dying due to massive adoption of it, from my views anyone who are into cryptocurrency especially bitcoin has a motive of purchasing it.

Couldn't agree more, despite the investment potential, Bitcoin is also a fast, anonymous way of sending and receiving money. Back when Bitcoin was worth $200~, I had used it to buy some Minecraft accounts and some other online related stuff.

No one could actually predict that it would reach such price levels, 5 or 10 years ago.

People should really have this kind of impression towards bitcoin not only seeing into its investment potential but rather into its pure relevance and usage.
Bitcoin is dying is something that is already common on this market on where people do call out these words when they do saw that it is declining towards
its price but when it is hyping up then they do really revert back those words and start to believe again.They do just come in and come out
on the market when they do  saw that opportunity. If you do trust up Bitcoin then you wouldnt mind on what would be its price in near future.

I don't know why we are still discussing about the usage of bitcoin because there's really a lot of ways how to spend bitcoin. It depends on the user how he will use it, either spend it or hold it. There are so many ways how to spend if anyone is confused on how to spend it. If you can't find merchants directly accepting bitcoin, why not convert your btc to USD and it is all good, right?

Lol... Almost everyone agrees with the point you made and I'm inclusive. But at least you do understand where I'm coming from. Bitcoin may be used for any purpose, that's fine. In fact, that's the real meaning of decentralization. But, it's ability of being a currency is going down, and that is my concern. I'm not saying we shouldn't buy and hodl, but let's engage in its use as a currency as well. Thanks for your kind replies, you communicated sensibly, and I appreciate that.

Yes, you can use bitcoin to buy whatever you want to buy in a country that is well legalized. But is it the reason why bitcoin was created by Satoshi Nakamoto? Bitcoin was created to eliminate third party in every traditional currency transaction and also to help us to store our money and well secure.

Sure, bitcoin being used more as a currency would be great, but that's just how markets work. People will use it as a currency, if they actually think it's worth giving up a small portion of their holdings for a payment. And especially right now when prices are rising, it simply doesn't make that much sense for some people to use it. But while people are not that much using it as a currency right now, people sure are taking advantage of it's scarcity. It's still a huge win in my book.

It's a joke that bitcoin is dying . because bitcin will never dye and you will see in the near future Bitcoin will be a currency like $,£And all that.And you had seen a bitcoin bank has been opened in India ,and nearly you could see the Bitcoin will be regular currency in india .and yes there are many country are thinking about to do regular Bitcoin,and trade and transection in Bitcoin like a currency.so I'm telling again Bitcoin will never dyeing. And now in covid19 pandemic value of cryptocurrency is increased.because you know the covid 19 also transfer bye currency notes .so in future you will see the good value of bitcoin.

So long as Filipinos are getting paid to Coins.ph addresses, bitcoin remains a currency for at least hundreds of thousands of people, as they make sending it and converting it within their system pretty seamless... I think wallets that service customers in countries whose governments have a similar hands-off approach to crypto regulation also remain unaffected; of course we are now relying on a 3rd party. But there are some wholly capable companies out there, and so long as the cost of moving money through them remains lower than conventional systems, bitcoin will remain a viable currency for millions of people around the world.

True. It's pretty much still a currency, just mostly in a 'receiving' than a 'paying' manner, which is not really a bad thing in my opinion. And though a lot of people do use Coins.ph to pay bills and buy mobile load, it's safe to assume that people are mostly using the fiat side of coins.ph for these purposes. Quite unfortunate, but it's to be expected for a country with a pretty high poverty rate, so a lot of them simply cant afford to speculate on risky assets even in the long term(unexpected spendings like hospital bills are a bch).

This is the perfect reply. Satoshi never specifically said that Bitcoins can't be used as an investment asset. And I don't believe that there is really a difference in purchasing United States Treasury Bonds for investment and keeping BTC as an investment asset. Users are free to do whatever they want to do with Bitcoin. The OP doesn't have any right to dictate the terms to them.

The real use of Bitcoin is for peer to peer payment system without the middleman with anonymity process for faster and cheap transactions. With the growing adoption of bitcoin right now, I don't think this will end it hence the price is still increasing this month and this year it will accumulate more price surges in coming months for sure. People also bought bitcoin for investments that's why the success of it is enormous.

That's how volatile it is, bitcoin can experience ups and downs and I know that most of the investors know that.

It really takes a lot of time for bitcoin to resurrect just like what you are trying to say because bitcoin is not always having a positive movement in the market. It is impossible for bitcoin to die permanently because its value is still progressing in the market, maybe it is just having some resting season where people can buy it in a much lower price.

Bitcoin can live forever, I know that there are other cryptocurrencies that might exist but bitcoin can still be the best in the future.

You have a point for the wrong reason.....  ;)

Bitcoin are still being used as a currency, but due to the volatility... most people prefer to use it as a store of value or for a investment option. (Commodity) The thing is this... most currencies are very stable and merchants wants that, because a fluctuating currency price will cause a lot of troubles. (One day the price is say $100 and within an hour it is worth $120.... no retailer want to manage that kind of price volatility in their payment system)

The real problem is the hoarding of coins, because you need on-chain transactions to happen to generate miners fees for the miners. Remember at one point in the future, Block rewards will stop and miners fees will replace Block rewards... so if there are not enough miners fees to replace the Block reward... then miners will stop mining.  ::)

Bitcoin may not be used as what Satoshi wants it to be or the people isn't using it the way it has to be but that isn't enough to say that Bitcoin really is dying.

We know that we can use it in different things but most of us are seeing Bitcoin as a form of investment because of its volatility. Many are using it for gambling, trading, paying, investing etc. It doesn't matter anymore as long as many are using it then it is still ok.

One thing more, many already said that Bitcoin is dead (probably a hundred times already or more) and please don't include yourself as one of them :D.

With record-high hash rates being set all the time, I don't think the's any danger of miners slowing down or losing revenue. Mining is still incredibly lucrative and IMO the amount of energy thrown at mining is wasteful. However, its set by market forces beyond anyone's control.

The miners will never stop mining, even as rewards approach zero. Even if its just Satoshi booting up his desktop from 2010 and solo mining to keep the network alive after society has collapsed, mining will never stop completely.

as long as you are using it for legal purpose and not for illegals ( buying drugs , scamming ) no one will get angry with you  and that wont look like bitcoin is dying , rather ( the essence of using bitcoin for good is dying ) .

no your wrong . the chance of btc price drops are so high and it gets higher the higher the value gets  . your second sentence usually happens after the drop happens . people start blaming calling btc a scam but later on we are still seeing investors entering . my man btc seems immortal

maybe it is sometimes resentment because he don't get what he should receive when the opportunity is released because of the situation itself. would irritate people and let out their displeasure accidentally and that is human.

I am the same as you how can it be dying or will not be used again where it is currently in a sharp increase and maybe up to this year. many benefited from the upgrade. what is clear is of course wholesalers, companies that have always kept bitcoin for a long period of time.

I hope that with the increase in bitcoin this year, altcoins can also increase because many are waiting compared to the increase in only bitcoin.

That is how volatility of bitcoin is shown.
Bitcoin is dying we think when the price is down. But, it gets up always and proves its worth. I like bitcoin because I feel free using it as payment. No worries on taxes, really hassle free. As long as it is legally used, there is no problem.

Never bet against innovation. Yes, bitcoin is not the best coin for payment but there are too many hype and fomo about it

You can't say something that you really don't know, which lot's of people are using bitcoin Anonymity still hiding some of their money into bitcoin you can use bitcoin what ever you want in life as long as there's no people your going to be hit since there a big chances for us to use bitcoin freely and it is depends on us if we're going to use it or nah. People are keeping in eye in bitcoin since the huge volume price increase gives them hope even in this kind of pandemic that they can rise up from the hell they experience in life. I can't say that bitcoin will gonna die because it is decentralize and when there's still people using it it will continue to be live.

If the price of Bitcoin is increasing it does not mean that the world is killing it. It is quite the opposite.
Think about it... Every asset or currency value is driven by supply and demand. The fact that fiat currencies are somehow stable is because of the interventions the governments make in the market.
When you can't interfere with the supply and demand of the market by printing more currency or using other monetary policies, you get a more fair value dictated by the forces of the market.

Nobody stops you to use Bitcoin as a payment method, but is that the right thing to do when it swings multiple percentages each day? - You will have to decide that.

and of course someone will not be able to make bitcoin die, the more people who want to invest in order to have and buy it for them to keep, bitcoin will always be there and will increase its price, and even if there will be a decrease in bitcoin price, it is certainly a natural and common thing , and investors who want to buy bitcoin at a very high price are already thinking about the risks if there is a price drop, but they are not thinking about it. , because they buy bitcoin, of course they have their own thoughts about what will happen to bitcoin in the future.

Whoever is that Lazlo, I don't care how much he spend for a pizza.
I could've sold my house just to buy a Big Mac, and does that mean that I don't see potential to my local currency as well?
Everyone has their own "use" of Bitcoin. Doesn't mean that someone you know, believe, or follow is always right.

Is this a bad thing?

I don't really care if bitcoin becomes a world currency, a payment system like paypal, or a digital gold. I'll be happy as long as functions and continues to be a reminder that an independent system of exchange can also work. That not everything has to be registered and ask for permission to be used. That you don't need a license to trade with other people. This is what's important for me.


What about simple allocation of wealth?

I don't have enough to buy a house, but I don't want to hold fiat money because it loses value. I don't like gold because it's hard to travel with and to sell. The answer is bitcoin.

You cannot easily say that bitcoin will die just because the price falls down, that is the nature of every cryptocurrency, the price is changing time by time, the volatility of every token is constant. Keep on believing that bitcoin will live as we continue to use it and as of now, we can see that big companies are now recognizing and adopting the use of bitcoin, which is good news for everyone especially the community because that might help the market to rise up.

I admit that right now many people use Bitcoin as a digital asset, it is very rare for people to use Bitcoin as a currency. But that doesn't mean
Bitcoin will die, as long as there are people doing transactions with Bitcoin, I think Bitcoin will always live. I even use Bitcoin to gamble and buy
some of the things I want, indeed I also buy Bitcoin more often for investment. Conclusion, don't worry too much about the future of Bitcoin,
because as long as there is still high demand for Bitcoin, it has proven Bitcoin will live on.

after all, the role of bitcoin as a trading commodity and investment instrument is more prominent, rather than just being used as a currency for payment transactions.
of course, this depends on the needs and points of view of each in using bitcoin. the important thing is not to waste the good opportunities that have been offered, by paying attention to risks and preparing strategies.
We also need to know, even though there are many pros and cons, bitcoin has been legally recognized by several countries even though it is only limited as a trading commodity.

Why investing in BTC killing Bitcoin and make it dying? As you know, not all countries receive and accept Bitcoin as a currency and they are not legal yet. If we force Bitcoin only as a currency, this will be killing Bitcoin because until now, only a few merchants that accept Bitcoin as currency. Will we still force it?
Investment in Bitcoin is sure making this coin alive the last longer because many more people know the potential of BTC in the future. As long as BTC is still used for any kind of purpose, this will keep BTC alive.

In my opinion, as long as nothing replaces bitcoin as currency, hides your wealth from the government, as a means of buying and selling, and the price is high, bitcoin will not die but will continue to grow.

Hard to say that bitcoin is dying, even if we want to call it a currency, the limited amount of bitcoin in the world including the lost coins will not be enough to cater the global population for a daily transaction, you also have to consider that bitcoin is still volatile even at this current price rally which means that a cup of coffee that were priced around 0.00004 will change to 0.000045 in a matter of seconds which could spell a bookkeeping and transaction disaster for businesses.

in the instability that occurred from the past few months is an opportunity for short-term investment to be made, although of course it requires no small amount of funds. but all if analyzed properly will produce something very profitable.

I am also very unsure like you that to say let alone ensure that bitcoin is dying or will dead. because even though there is a reduction due to the halving, of course it will still take a long time to happen, at that time there may be changes that we will not know at this time. because in crypto anything can happen and nothing is impossible.

Bitcoin will never dying and bitcoin have no chance to die.Because, bitcoin habit is up and down.i think bitcoin have bright future.so, never lose hope with bitcoin.

I disagree, made your point is bitcoin is a currency but most people are seeing it as an investment where they could make a profit.

Still, you can't say that bitcoin is dying because of that reason, bitcoin market price is controlled by supply and demand in the market and the limited supply makes sense that is why we see price volatility making it a good investment, its circulation or volatility whats makes it a good investment.

We could say that bitcoin is still growing or instill in a process, as long as people are using it for whatever they want to it will not die. Even if the market price of bitcoin becomes so high up to a million $ it doesn't mean that bitcoin is dead it's the opposite, in the future, we could see how it will operate as a currency.

Clearly clickbait, I would say. Or one stressed out guy who have possibly lost some in crypto and wants to see its demise. Like the Mcafee guy really, supports crypto in one hand then calling for the end of Bitcoin on the other. I mean , come on, there has to be better naysayers than this. You are still being rebutted and that is not good really. Maybe you just chill for the meantime, count your losses and then spend the rest on Bitcoin and just watch it grow again.

It's a false sense or understanding of most of the beginner level bitcoiner that we are killing bitcoin because we are taking bitcoin as an investment purpose only while it should be treated as currency only. It's our wrong expectation that BTC will replace fiat or will be used as currency only. I guess there's nothing wrong with taking it as an investment. GOLD has almost no usage other than being treated as a value store. So does bitcoin as well.
Nevertheless, the real usages of bitcoin are very high than most of our expectations or speculation. I have been using this as p2p currency for a very long time and a lot of people are doing that. Then, how are we killing it exactly?

Your argument is invalid as you mentioned that people are thinking of this as a way of making money due to "PRICE SPECULATION". If they know that the price is volatile, and can go up and down. Then they know the risk of investing in it in the first place. Ergo, even if they lose money, the only persons who will tag this as a scam are the ones who don't really know anything, and just get dragged by someone who might be the legit scammer.

Bitcoin died long time ago when people started to consider it as an investment scheme rather than the reason why it was invented and I am sure very few people will use Bitcoin as P2P transaction medium since we got numerous altcoins which has lightening transfer speed and costs less in terms of transaction fees. We are all somewhere responsible for converting technology into investment. If even Bitcoin price goes down then I believe users will Hodl as they have learnt from the past.

No bitcoin is not dying yet and it won't die any time soon. Prices might not rise a much as they used to, but it doesn't mean that that BTC is dead. Total BTC volume over last 24 hours is over 56 billion, there are a lot of txns in mempool, demand is still high. Eventually prices will level out but we're far from it.

Bitcoin died 395 times and this number would continue to grow as we go forward.
https://99bitcoins.com/bitcoin-obituaries/

People would continue to say up these common lines when they do saw that the market is declining. Bitcoin is dying , its time for alts now,
ETH will surpass it and other kind of things that do describe that bitcoin isnt the one.

This isnt something new and after all the years, you would really just smirk out of those calls.

See, e.g.

I wonder how AstroHacker is...check out the comments on this one, pretty similar to the ones today:
https://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html
(Or the original
https://web.archive.org/web/20120118204206/http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/
)

Or

https://cs702.wordpress.com/2011/05/29/on-the-potential-adoption-and-price-appreciation-of-bitcoin-in-the-long-run/

https://bitcointalk.org/index.php?topic=12156.0

Bitcoin has been declared dead or dying roughly 390 times since 2010. But this year it's dying much less frequently. In 2020, bitcoin (BTC, -9.08%) has been reported dead or dying only 11 times, per a list of these faux obituaries maintained by a Singapore-based website called 99 Bitcoins.

Why bitcoin should state died or dying just because people buy the dip and consider it as an investment for hedging?
Bitcoin is an alternative currency, yet I prefer to consider it as freedom, even the founder Satoshi himself knows that bitcoin will succeed, or it will not and there is no 3rd option. If the volume increase, thus the price will skyrocket due to high demand and limited supply. because halving cut the rewards for miners while the cost to run a mining farm remains the same or tend to increase, the price of bitcoin should grow as well.
Furthermore, bitcoin seems not to be the main option to replace fiat currency in daily transactions since not every part of the world have companies that act as an intermediary or merchants that accept bitcoin payment.

https://bitcointalk.org/index.php?topic=48.msg329#msg329

yeah, that's why while it still good many people are still believing that they will get more profit

Anything that has got connection with money making will have the risk associated with it. Bitcoin isn't an exception, and people always have a panic of missing opportunities due to the volatility. This is what termed as high risky. Bitcoin is all about the innovation, but people aren't aware of it. This has now got more importance as an earning source through trading, investment and goes on.

Bitcoin has made itself a multi-purpose tool that can get used based on the requirement rather than sticking to one dedicated functioning. This means Bitcoin is getting transformation and the technology usage is widening. Death of any technology happens when the usage is nil, anymore such a possibility with bitcoin and blockchain technology won't happen.

Well said mate.
People often get confused when the Price of BTC reduced.
Actually it only happens now a days to the volatile nature of the coin.
Instead it also depends on us, if we transact it frequently then the Price of the coin will increase.
BTC follows the trend of supply and demand.
If the demand will be more, supply will be less and then price increases.
Hope OP has some information cleared now.

MicroStrategy. ...
Galaxy Digital Holdings. ...
Funds. ...
Grayscale Bitcoin Trust. ...
CoinShares. ...
Ruffer Investment Company. ...
3iQ The Bitcoin Fund.

With these companies and many more companies investing on it, I dont think Bitcoin is dying, its just making its way to new ATHs, year by year

may corroborate what you say, how is crypto without bitcoin !!! of course everyone knows even though there are other coins but crypto identity has happened to bitcoin.
if bitcoin is reduced it will not affect what is there because of that bitcoin will not be dying by just decreasing.
Bitcoin can be called digital gold, but in terms of volatility, Bitcoin is king.

You have said it all, it is a pity some people like to make a mountain out of a small stone, every bitcoiner is entitled to his or her own choices what to use btc for, that does not make btc any less valuable or appear to be dying because many people use it as an investment, btc serves several purpose, anyone can chose which of this purpose they want to use it for.

Bitcoin is not dying now, but bitcoin is experiencing a decline in price and that's a correction. believe bitcoin will not fall easily and bitcoin will recover to its best position

Sometimes the illusion of value will be addictive for anyone. Look at the value of bitcoin now, is it dead or did you always think about it in your dreams? Bitcoin is so versatile for one type of currency, it can be transformed and transformed into many forms of differentism. Can an epidemic of bitcoin addiction correspond to the 19 covid pandemic? Maybe 8)

I can't imagine if Bitcoin were really dying, how many people would lose their fortune and go crazy,
many people do not understand what Bitcoin is, so they give bad news about Bitcoin so they think Bitcoin is dying,
so stop giving bad news about Bitcoin and learn again what Bitcoin is because Bitcoin will continue to grow and will not die.

I cannot blame you if this is your conclusion even if you have seen already the capacity of bitcoin. Bitcoin has been declared dead for a couple of times already but what happened now? the bitcoin price is breaking it's ATH again and again.

Is this how the dead work? Dead means no value but bitcoin is steadily progressing. An increase and a decrease of bitcoin price is part on how the market works, if you are still new in crypto world then it will be better if you will do some research first before you will spread some fuds to bitcoin.

Also, you can freely choose whatever you want in your wealth since Bitcoin has plenty of unique options you can choose. You're also safe from bad guys who wants to rob your wealth. A term "Dying" for bitcoin is not logical since it's value were too massive right now.

Many people could not predict the potential in bitcoin, I am included in it. No one would have known that this much volume would increase, that many corporate firms would invest and that they would really be chosen as the technology of the future, things could have been worse. Now we can make a clearer comment for the future of bitcoin, so bitcoin is not dying, on the contrary, it gets more alive.

Bitcoin has been declared dead or dying roughly 500 times since 2010. But this year it's dying much less frequently. In 2020, bitcoin has been reported dead or dying only 11 times, per a list of these faux obituaries maintained by a Singapore-based website called 99 Bitcoins.

Yeah we know that it created the purpose of bitcoin as a currency, but with the development now bitcoin is already used by people as an investment asset.
Especially when the price skyrocketed, many people threw it away for profit and bought it again when the price dropped. Its volatile nature makes bitcoin
quick to profit and improve one’s financials.

Intuitional money had already flowed out into this market already and yes, those big companies and personalities had poured down and considered this place as a good investment
but always mind off about the con's or on the negative side but to know that everyone can engage with this free market. No one had been restricted nor being prohibited to dive in.

Bitcoin is Dying is somewhat a topic that had been repeatedly said on this place for how many times specially when it crashed so hard and just like when it dipped or bubble popped
in 2017-2018 where everyone is already on that fear.

Telling that we would be heading to a buck price or even going to zero but look at on where we are now?

Knowing that there are big institution and companies that are backing up the bitcoin system, I am sure that they won't allow the value of it to suddenly fall. There might be a correction but it will still recover since anyone from the investors don't wanna lose anything. The worst case scenario would be if the whales decide to leave the system, the price will surely fall. But on my opinion, there are lot of people who hold big amount of it. So no one can truly manipulate it for long term.

The only way I can put it is one thing. Naysaying. These naysayers will do everything to discredit Bitcoin. Something happened in the past that made then change their minds about the whole crypto thing and is now out there to discourage more people. That is all it really is. If you do not have any real business to do with Bitcoins or other alts then it is time to move on and start doing something worthwhile. Useless to convince winners to quit.

Bitcoin will ultimately not be an investment, or an encrypted digital currency. It is very likely that it will become a universal currency in the world, a payment and a recognized hard currency.

Man, Why do you have this thought? I want to tell you some recent news. D you know recently Elon musk bought 1.5B BTC. And Master card, Uber and US some councils accept BTC as well. And also next BTC harling will affect more than this year. We can see BTC will pump to 100K$ in next few years. This is the best investment in the present.

Bitcoin is on its peak, and followed is the ethereum. These are the days of bitcoin, because big people in terms of wealth keeps pouring funds into the cryptomarket. This keeps the Bitcoin highly active on the market.

With time someone who is popular making his investment on bitcoin. This is giving hope to common people who are able to invest very small. Some way it serves as the asset of the rich and all levels of people through its denomination. This makes it live forever without death as some has stated.

Yeah it keeps living, and it's totally in reversal to what op subject matter have been said that bitcoin is dying. With the underlying peak of its price these days, it became more valuable as many folks started to divert their asset from fiat to cryptocurrency. Demand rises, that's why price surges very high from time to time and after some minor corrections often pull down some percentage; recovery suddenly bounced back.

Nothing last forever and this should really bare in mind even how bullish or good the market is but doesnt really give out assurances that we would really succeed into this venture.
We are indeed on having a good run but people shouldnt really be that too confident specially for us who are just common people.Yes, it do gives out that chance for us
to earn but to think that this isnt an investment in the first place but rather a new way payment system that had been just created and earning money is just a bonus
or second priority.Well, people do really look the different way and just focused more on the other side of things.

Maybe they lost some money on bitcoin and now they want others to do the same also.
But what is happening in the market is opposite, and we are continuing to rise because a lot of popular companies are now joining the crypto.
Those who got negative experience will always say something negative and be pessimistic with the bitcoin's future.
But unfortunately, what they want will not happen as it is the opposite that is happening right now.


Though we can't say that it will live forever but I like this optimistic view on bitcoin.

you say bitcoin is dying ,, ooopp it sounds very, very stressful, the word that bitcoin is dying is suitable for you to talk about for yourself, I still use bitcoin almost every day, even my income is almost entirely from bitcoin, it's up to you to say bitcoin is dying lah, fell down, but I remain at my stance, I will still use bitcoin ..

And by chance did you communicate with Laszlo about how he feels 10 years after seeing what btc has become both in price and tech?
If Laszlo has the slightest clue that btc will be worth that much few years after, I am almost certain he would have had a re-think before spending 10k btc to buy pizza,  what point exactly did he made by that single any? You don't need to spend so much to prove a point few sat is enough to get your point across.