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I think one relevant question is: what exactly do people need to know about bitcoin? How it works? Probably not. Do people know the details of an ICU engine works? No. Do people know how a CPU, memory, bus, storage works? Not really. I think part of what they need to know is: censorship resistance and fixed supply (so no inflation from a central bank risk).
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Bitcoin has been volatile for as long as it has been tradable to fiat. From a percentage standpoint, it seems less volatile right now than at times in the past because the market is so much larger.
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I think everyone should own it the way that makes sense for them. Certainly in many ways ETFs make it easier that core or electrum etc.
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Surely Bitcoin wasn't created with specifications for the younger generation, however it's panning out that it's characteristics happen to align more with the younger generation.
Younger people resonate more with technology and Bitcoin is inherently digital. The older generation appear to be sceptical when it comes to new technology and would prefer the traditional Commercial banking systems for their basic and complex transactions.
Personally I think what matters most is a sincere desire to be open to new technologies alongside openness to move a little from the flat currencies.
Could more be done to include the older generation?
Define "younger" and "older" here please. 😂. 15-16 years ago many involved in bitcoin might have thought they were "younger" vs now some might say they are "older." Bitcoin is for anyone who values liberty. |
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We’ve always said, especially us early adopters, that Bitcoin is decentralized money meant to cut out third parties, to give us a way to move funds freely without the government watching or banks handling every transaction. But looking at the situation now, yeah, Bitcoin has grown fast and become really valuable…
I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites.
Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.
So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.
Yes, he'd be happy. Once bitcoin reaches fiat equilibrium and transactions aren't subject to taxes (eg capital gains) as in some areas it will be more useful as a currency. That's another 2-2.5 (maybe even more) orders of magnitude from here. |
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These days, a country announcing that they will make bitcoin legal is not as rare anymore. We hear news of this almost every week. It might make us forget that not all countries like bitcoin. There are still those who don’t and have not changed their stance when it comes to bitcoin. I saw a list from investopedia.com of countries where bitcoin is illegal. These are the following countries: - China
- Pakistan
- Saudi Arabia
- Tunisia
- Bolivia
What took my attention however is Pakistan. Because I know that I had recently read a news about Pakistan and bitcoin and I was right. I guess the list is now outdated. It shows that a country can and will definitely change their stance on bitcoin. So is your country still against bitcoin? I'd add the EU countries to the list: they want to control money to control and exploit people. The left who controls the EU won't give up the power over people easily. |
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Bitcoin has proven to be consistent and reliable over the years with measures made available to secure our assets from malware attacks by providing face verification, 2FA, email verification and the likes.
It has being used as payment means for goods on the long run and that has being an innovative system at the moment but the knowledge and usage of Bitcoin has not fully being diversified making it not fully functional.
But here is the question, do you think Bitcoin can overshadow the relevance of dollar in the future?
When you have fiat currencies and no backing, then yes, a hard currency is the only way to protect yourself from the statist who feed on the large populace by inflating the value of their work away. Literally stealing the hours of their lives 2-5% per year, decade after decade. |
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I think anyone who understands bitcoin will gravitate towards it. People who see confiscatory policies from the left and inflationary policies from fiat based central banks know bitcoin is the escape mechanism.
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We are still in 2025, that means 2035 is 10 years from now. I believe bitcoin can get to over $1 million by that time also. People that invested now in bitcoin will still enjoy its increasing value undoubtedly. Bitcoin will be more mainstream by that time and most countries will have bitcoin in its reserves. More institutions will also invest more money on bitcoin.
I agree with you Oshosondy. Right now, those who were so against bitcoin in the past, including the professors and experts are rethinking their opinions and stance. They have seen the numbers and the growth with some few years which have completely destroyed their theories and hypothesis about bitcoin. By this time next year there will be more bitcoin holders and that is a fact. And in 10 years time, yes, it will get over $1 million even if the government steps in to regulate it. I agree too. The more people that understand the benefits and importance of bitcoin, the more people will buy and use it vs having the same knee jerk reaction of "tulips" and "Ponzi" which people who haven't taken the time to learn and understand typically have. |
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...
Do you think that if governments allow the use of Bitcoin in this way, Bitcoin will one day be approved as legal tender?
Some might, but a lot of governments won't be fans because it allows people to escape from the fiat system and all the immense problems that central banking fiat systems create. |
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....
Mempool Depth
A transaction doesn't go directly into a block. First it gets broadcast to the network and sits in a waiting area which we know as the mempool. Every full node has its own mempool and they relay unconfirmed transactions to each other. So what miners do is that they look at the transactions in their mempool to decide which ones to include in the next block and because they are motivated by profit they will prioritize the transactions with the highest fee rates not fee.
Now, the depth of the mempool is a measure of this waiting room's congestion. It's not actually a technical property of a single transaction but more like a dynamic state of the entire network. Imagine the mempool as a long queue with different lanes for different fee rates. The highest paying transactions are at the front and the lowest are at the back. Now when we talk about mempool depth, we are referring to how many transactions are waiting in each of those lanes.
When the network is congested the depth of the mempool kinda increases which actually means you may have to pay a higher fee rate to get to the front of the line. However if the network is less congested and the mempool is shallow a small fee has a very high chance of getting you a quick confirmation. This is why Bitcoin transaction fees are not fixed.
Congestion also explains why sometimes the depth you see at the time of broadcasting your transaction may not be the depth the transaction will be confirmed at.
And it might be useful to note that the mempool on any node can be different than on another node. Node A might have transactions 1 through 10, node B might have 2 through 11. |
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yeah, i'll watch it to see how many things they get wrong about him and bitcoin in general  btw, the title is 'Killing Satoshi,'  It might be easier to count the things they get right about both of them. You will probably be able to do it on one hand. (Of course I could be wrong). |
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https://cointelegraph.com/news/discord-scams-crypto-nft-theft-social-engineeringHide your crypto: Infamous ‘try my game’ Discord scam on the rise An X user known as Princess Hypio said they lost $170,000 in crypto and NFTs to a scammer who infiltrated a Discord server and pretended to have mutual friends. Brief History of Scams: "NFT artist Princess Hypio lost $170,000 in crypto and NFTs after a scammer convinced her to download a game on Steam. The game itself was safe, but an infected server allowed hackers to gain full access to the device and wallets. How it works: ▪️The hacker infiltrates the Discord community, observes and “gains trust”. ▪️Finds out who has crypto or NFTs. ▪️Offers to play and sends a link with malware. ▪️Result – the hacker gains access to wallets, personal data and assets." Crypto Headlines AI(C) Another example as to why cold storage is most recommended. If you use paper or something or a device that is never online, this type of thing wouldn't happen. Sure if you have $1 in crypto that's completely different, but $170k!?!??! |
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Bitplanet, a renowned South Korean company, is set to make a significant mark with its plans to create the country’s inaugural institutional Bitcoin treasury. The firm announced the allocation of a substantial $40 million specifically aimed at purchasing Bitcoin. Read the full article here: https://en.bitcoinhaber.net/south-korean-firm-embarks-on-bitcoin-missionIt's a good start, but that won't buy that many bitcoin! Hopefully it is just a small downpayment on a bigger plan. |
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One might as well post about a fortune teller on a 900 number. No offense, but the "critics" have spent > 15 years showing everyone why they don't know what they are talking about. At least though with a fortune teller you would have the chance they'd be correct over the long term.
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What will happen if bitcoin transactions became anonymous like Monero tomorrow? Will it increase the demand of bitcoin even more in the world ? Or will it have negative effect like government making restrictions on bitcoin ?
Long term it would be a good thing, short term (or long term) the impact on price is unknown. From a usage and freedom perspective increased privacy is important. |
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Is getting one Bitcoin impossible now
Is there a way to get it for free like in the past?
Everything is about choices and the consequences of those choices, so no, it is not impossible, it just depends on how much work you can do to earn it and the value that other people put on that work/your time. |
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Bitcoin transactions settled instantly without confirmations: Can this be reality one day ?
Lightning is one solution, but people still use credit cards and they don't settle for on the order of months due to the potential for chargebacks etc. |
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So, as long as bitcoin is concerned. I am proposing that the statement be changed to "Invest what you want to invest".
I prefer to use the term " Invest what you can do without for a long time" this makes it more convenient to everyone, if you have $100 you can afford to do without $10 for a long term and compounding power makes it mighty enough to not be able to do without it in the future or want to use it as it will be accumulated to a great extent and will basically return a very good amount as profit. Yes, invest what you won't have to sell for a long period (several years), so you don't have to sell at a bottom. |
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It signals an opportunity to lose money if you are long and bitcoin drops or visa versa.
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