Satoshi’s Dream Or Satoshi’s Nightmare, After 10 Years Which One Has Bitcoin Bec

[elzahovh]

Bitcoin was created to be an independent decentralized financial assets. Surprisingly the very institutions Bitcoin was designed to work independently from are the same institutions breathing life into it.

What are those institutions?

What part do they play in crypto adoption?

How much influence do these institutions add to crypto adoption?

What are four of the major components necessary for crypto adoption?

Satoshi Nakamoto, the creator of Bitcoin, envisioned a new currency. A currency that would be free from the bureaucracy of governments. And free from the tyranny of the old world financial cartels. But in order for cryptocurrency to advance and gain value.  Adoption of this digitized monetary system by the masses of people on our planet Earth needs to take place. Bitcoin and other cryptocurrencies are beginning to be adopted by the people of the world. But adoption has come with a compromise to Satoshi’s vision.

Government endorsement.

Government regulations.

The enhancement of the banking cartel’s services utilizing blockchain technology.

National economic failures.


Read more at https://www.21stmoney.com/satoshis-dream-satoshis-nightmare-after-10-years-which-one-has-bitcoin-become/

[Wicalelin16]

The present state remains in the middle ground in all aspect. Bitcoin's value is still sky high in comparison to other cryptocurrencies but there is still room for improvements.

[Dalimeth01]

I do not think the dream of Satoshi is dead as most of the cryptocurrency along with bitcoin is still decentralized and free from government regulations.

[TheReal02]

Bitcoin is still a decentralized platform. Although the whole world is still not ready for bitcoin but people are gradually accepting it. Co existence of fiat and bitcoin will make people more interested.

[Seemly20]

It is true that banks are getting involved day by day and the degree is gradually increasing. But bitcoin was never meant to replace fiat. Just like you mentioned, an independent financial asset. The co-existence of fiat and bitcoin is inevitable as well as such involvements.

[Sandus_Cryptolover]

The dream of Satoshi is still very much alive. So far, it has achieved quite a lot as people can trade with Bitcoin as well as store their Fiat with it. It has got so many people's attention and still doing so. At the currently moment, gaining mass adoption is very key, which with time would be achieved! Thus Satoshi'e dream is very much alive.

[sorrysteve1]

It's impossible to say what or how satoshi would be feeling, he'd have to come here himself but for one reason or another that doesn't seem like happening. I suspect that he'd be proud of what BTC has become even if it's not exactly as he had envisaged. BTC is influenced by institutions but they are unable to control it, they'll never control supply and can't hold all coins unless the current holders sell, even then that doesn't make them an authority on decision making.

[pixie85]

It is true that banks are getting involved day by day and the degree is gradually increasing. But bitcoin was never meant to replace fiat. Just like you mentioned, an independent financial asset. The co-existence of fiat and bitcoin is inevitable as well as such involvements.

Bitcoin is for all and Banks are nothing but people who run them. We can't possibly stop these people from investing. Bitcoin was created for them too, to show them that there's an alternative. If they want to buy in it's great. It means that Bitcoin has penetrated deep into the culture to reach even those most stubborn. When politicians and bankers are interested in decentralized money you know that we are winning.

[dothebeats]

I still see bitcoin posit itself in the middle ground of institutional hands and the unbanked. As for decentralization, we're still a decentralized network as far as I know, and there aren't any means of controlling the network except for a massive 51% attack. On the side of regulation, it is bound to happen since bitcoin is paired with traditional fiat currencies, and governments wouldn't want to have their lovely paper money go to somewhere that they can't control, so at least try to regulate the services and bodies working with it to get something out of the asset. While bitcoin isn't really used as a currency that much, at least it helps on flipping the wealth distribution in a way Satoshi envisioned, so we're still on the right track.

[Gozie51]

The present state remains in the middle ground in all aspect. Bitcoin's value is still sky high in comparison to other cryptocurrencies but there is still room for improvements.

Yeah... The satoshi move is so much touching most continents including the technical underdeveloped once. Despite the internet challenges, there are enthusiasts that are fastly adopting bitcoin and the future keeps getting brighter by the day.

[aoluain]

The very first line in the bitcoin whitepaper reads: A purely peer-to-peer version
of electronic cash would allow online payments to be sent directly from one
party to another without going through a financial institution.

It still stands and can still be independently used from traditional financial systems.
I wouldnt fully agree that financial institutions are breathing life into bitcoin, not in
a major way. Its we the people as individuals who can still drive the project through
usage and adoption.

[sorrysteve1]

The very first line in the bitcoin whitepaper reads: A purely peer-to-peer version
of electronic cash would allow online payments to be sent directly from one
party to another without going through a financial institution.

It still stands and can still be independently used from traditional financial systems.
I wouldnt fully agree that financial institutions are breathing life into bitcoin, not in
a major way. Its we the people as individuals who can still drive the project through
usage and adoption.

Even if institutions pump the price because they see it as a good investment that doesn't change the use of bitcoin for what was set out, it can still be used for that at any price and will not be going through these institutions even if they own many btc.