I think this is the last stop for bitcoin. Dont think it will ever reach a new ath. Problem is everyone is tapped out. And once burned, twice shy.

At first it was the early tech crowd. They had it easy. They bought BTC for 10C, $1, $10, $50 and maybe a $100 at the most. Then there were the people cpu mining it and then gpu mining it, they got BTC almost basically for free.
Then there were the guys that got suckered in buying it at $20k - $60K range. They will never get their money back. Tough luck. They will remind others that it is simply a pump and dump at best, and a ponzi at worst.

I voted $3k, and thats me being generous. I think it might go even lower than that. It was at that level just some 2 years ago.

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

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

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

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


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

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

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

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

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

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

Prove me wrong!


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

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


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


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


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

You basically can not live without fiat in 2020, at least not in a modern city, or for that matter in a rural village. So the long and short of it, it is way to soon to think Bitcoin will fully replace fiat in the near future.

That being said, at some point in the next ten to 20 years this might change in favour of Bitcoin or other cryptocurrencies.

As far as I know paypal is required by law to block accounts they suspect is used for criminal activities and/or money laundring, just to mention a few cases.

On a second note Paypal is not a nonprofit organisation and never has been. They are just like any other for profit company and noone should be surprised by this, there is no need to hate them.

Noone is forced to use Paypal and since they have millions of users, their customers see benefits of using their service.

It's not even remotely realistic that we will see paying using bitcoin at the local supermarket in the forseeable future, and i'm talking in the next 2 to 3 years time span.

Maybe in the next 10 to 15 years we might see something like that take place, but not anytime soon.

I think you mean 1500 and not 15000 right. The dollar was firming on the back of Covid problems, not the other way around. Investors were flocking to the safety of the US dollar during times of financial stress.

Now we see the unwinding of that and the dollar goes back down again.

If that is true that you converted Bitcoin to usdt, that means you have lost out on the recent rise in Bitcoin, unless you just converted/sold yesterday or today offcourse.

Still it would probably be more wise to have at least some of your funds in Bitcoin. Why, because if the rising trend continues, you won't be left at the station when Bitcoin moons.

The result of the US election could very well pump BTC.

Those 3 reasons Xembin is why Bitcoin and other cryptocurrencies are heading for a slow acceptance through the next decade, but eventually most people will have to use some form of cryptocurrency sooner or later if they want to or not. At some point all monies will be digital.

I believe it's a generational issue, once the older generations disappear, there will be no other option than digital.

This is great news. This alone will benefit crypto massively. Paypal is not only adding the option to pay with Bitcoin alone.

The other cryptocurrencies to be added will be Ethereum, Litecoin, and Bitcoin Cash. Probably more cryptocurrencies later also.

Maybe we will se a new all time high for Bitcoin next year.

The stealing hackers don't necessarily have to convert their stolen funds directly into fiat. They are probably smart enough to avoid that. Another thing is who is watching?? Who will be watching if the hackers leave the stolen funds in peace for a number of months or even years, probably noone is watching.

The price of Bitcoin has rissen quite a lot only in the last 2 weeks already. Seems to me a large investor or a group of investors with large financial muscles is driving the price upwards.

There may be a period of consolidation before the price moves higher again, due to the fact that some would want to take some profit after the recent runup in price.

It will take a very long time for the whole world to accept cryptocurrencies on a massive scale. Parts of the world actively avoids using cryptocurrencies through legislation passed by governments in their respective countries.

This is happening because of those governments clinging onto wanting to be in full control of the financial system/framework.

I would agree that the price of bitcoin is not dependent on the price of any fiat currency, that being said most of the world financial transactions are made in dollars and Bitcoin in dollars are the cross people are watching agains their own local currency.

So when the dollar drops Bitcoin gets cheaper in lets say euro and investors buy Bitcoin because it's cheaper in their local currency, thus driving the price higher in dollar terms.

There are many other cryptoprojects out there that are much worse to understand than Bitcoin. Take the defi projects for instance, not to mention all the ethereum tokens to name a few. Compared to those Bitcoin is fairly easy and straight forward to understand.

It's all relative, i'd say Bitcoin is actually quite easy to understand all in all.

Yes, I believe it will coexist with the current financial system for many years to come.

From what I can see the younger generations embrace and understands how to use cryptocurrencies, while the older generations cling hard to their old school paymentsystems like Visa and so on.

Given enough time, the old generations will go away and in turn crypto will have a golden age.