Has Bitcoin Failed to Deliver ?

[OmegaStarScream]

Bitcoin has often been compared to the Internet itself. A project that will change the very world that we live in. The Internet has come to define the age that we currently live in, but can the same be said of Bitcoin? Has Bitcoin been an empty promise? Well, the truth is that we need to dig deeper into that question, and more importantly, we need to ask that question.

https://cointelegraph.com/news/has-bitcoin-failed-to-deliver

So in your opinion , Bitcoin has indeed failed to deliver or It's too soon to say?

[MingLee]

On the big scale it is far too soon to say, however so far it has been fine when it comes to delivering on what is promises to. You'd have to wait and see how it operates in a macro environment as opposed to the smaller communities we see.

The only thing we haven't seen when it comes to what Bitcoin can deliver on is whether or not it can effectively operate with an extremely large transaction volume, notably one you'd see in every day life.

[gentlemand]

Someone taking up internet usage has absolutely nothing to lose and everything to gain.

Bitcoin on the other hand carries risk and the need to radically brush up on your security and be fully aware of things you might otherwise have never paid any attention to. It also calls into question the nature of money which is something very few people can be arsed to think about. None of those factors are remotely attractive to a regular personage.

It's far too soon to be making pronouncements but my feeling is that the average human won't go anywhere near it until/unless it's spoon fed, nicely packaged and there's actually a compelling reason to use it. Right now there isn't.

In the meantime more people on the fringes will be coming up with those use cases.

[Juggy777]

I do not think it has failed to deliver in any way. The critics will always be critical of it. It has been rising, has been secure, has got worldwide followers, it is helping people. This article really does not understand Bitcoin power and how it actually has helped a lot. For me Bitcoin is a success.

[calkob]

Bitcoin has often been compared to the Internet itself. A project that will change the very world that we live in. The Internet has come to define the age that we currently live in, but can the same be said of Bitcoin? Has Bitcoin been an empty promise? Well, the truth is that we need to dig deeper into that question, and more importantly, we need to ask that question.

https://cointelegraph.com/news/has-bitcoin-failed-to-deliver

So in your opinion , Bitcoin has indeed failed to deliver or It's too soon to say?

I think its still early days, we are about 1994 in internet time, at that time the internet was still the arena of geeks,  I believe that in 20 years we will be looking back at 2016 and those that were buying and using it as early adopters. 

[franky1]

we are still early.

but it appears due to dominance from bankers in the more popular implementation, would be like saying:
"we are using netscape and netscape is the only future the internet has"

internet analogy for future bitcoin mindset
lets not blindly follow netscape and keep the internet open and flowing, as we all know what happened to netscape

lets not blindly follow one implementation and keep it diverse and expanding,

[chennan]

A person who is not very knowledgeable about the history of the Internet (in America) could say that AOL was the humble beginnings of the Internet we know of today.  Why would that be?  Because AOL was the first phase to make the Internet easy to use for the masses; and Bitcoin has definitely become the first real successful attempt at decentralized cash that is peer to peer while also being the first cryptocurrency to be easy to use with nice looking GUI's, exchange sites, and that sort of thing.  A whole lot better than what digital currencies that were being used before it, such as e-gold and that sort of thing which never really gained as much attraction from other people.

This didn't stop the progression of the Internet, and people didn't just decided to use AOL for the rest of their days to gain access to the Internet... and that is the point where I think we are at today with our little analogy of Bitcoin being the early Internet.

I'm not saying that Bitcoin is destined to failure, or less use than it's hay day (who really uses AOL now and days?) but if there aren't significant improvements in confirmation times and fungibility, then people will continue progressing the idea of cryptocurrencies using the blockchain with or without Bitcoin.

[crwth]

For me, it's too early to say. It's not Bitcoins fault, it's just the most famous cryptocurrency in the world. I think it's still in its infancy to tell. The current position of Bitcoin is great, it has a high value that you can share it and be amazed at how much it is now. From the very first Bitcoin value to know is very large, and a lot can still happen for the years to come. I agree with the article that the community of bitcoin should act, not just posting here, implementing in every parts of our daily lives. It's hard at the start but I think soon we can deliver.

[Ayers]

if you talk about being a good currency or not, i think bitcoin is on track it just need to scale corretly when million if not billions of user will jump in this train, if you intend as a marketcap, it will be only a matter of time until more people will recognize it as a good tool that can r3eplace one day the current money system, or at least making it better

[LFC_Bitcoin]

I don't know but I'm starting to feel a bit deflated about the lack of progress in the last 2 years or so.

[Kprawn]

I do not think so, because Bitcoin were disruptive enough to set the wheels in motion for new innovation in the Fintech sector. The banks

started to create their own private Blockchains and people created 1000's of projects that had a disruptive effect. { Examples : Remittance,

Online Gambling... } ...and this is not the end to the story, there are still a lot to come.  

[Tyrantt]

It's far too soon to say that bitcoin has failed to deliver, that could be said if it really get's held back for the next 4-5 years, since since the last year or two, bitcoin started to get implemented into more and more businesses . So as I said, it's too early to judge it since it's relatively new and it's still taking up the speed.

[cpfreeplz]

The internet was a completely new concept to the public whereas money is money. People have a hard time understanding exactly what makes bitcoin different and don't even u destine the basics. It's anonymous magic Internet mindy in most people's eyes until they actually figure out the fundamentals. I don't think it'll be as big as the internet but it's going to be bigger than it it is right now, that's for sure.

[RawDog]

So in your opinion , Bitcoin has indeed failed to deliver ?

fAILED TO DELIVER AND FAILED IN EVERY OTHER REGARD TOO.

BITCOIN FAILED. 

[cpfreeplz]

So in your opinion , Bitcoin has indeed failed to deliver ?

fAILED TO DELIVER AND FAILED IN EVERY OTHER REGARD TOO.

BITCOIN FAILED.  

Rofl glad to see you chimed in with your great wisdom, now where's kwukduck? Is he making breakfast for you guys? Are you kwukduck?

It must be tough being on a forum called bitcointalk and hate bitcoins. Maybe you should try Christian mingle or something man. Or J-date.

[Holliday]

Bitcoin does exactly what I need it to do. I can store value while retaining the ultimate control over the asset, and I can transfer value to anyone, across any arbitrary border, without requiring the help of a middleman or permission of an authority.

It will only fail you if you had unrealistic expectations from the start.

[olushakes]

I will say its a function of time. The internet happened because of the powers that bought into it and it didn't happen over-night and its because they see it as a way to get an advantage over the populace I am referring to government but same cannot be said of Bitcoin at this time as I still see it as evolving period and if it really want to deliver, government will be involved and for that I will say it is too soon to judge whether it will deliver or not.

[fiscorcle]

Well it is to early to say if it has failed or not. How long has the internet been available to the general public? 20 years now back in the AOL days.
But seriously. Bitcoin is still an emerging entity and stillneeds time to gain it's bearings just like any new innovative technology needs to do. Or would you say 6.5 years after the internet was generally available to everyone "Is this slowness ever going to get faster?!" No because you didn't know it could be.
Same could be said about bitcoin.

[Rinder]

Till the moment bitcoin is being able to handle all issues it has showed off, and left some issues to handle over the next years, there is no way to say now that it has failed or not, bitcoin is going to make 8 years online, and has changed several lifes at this period. And one the most impressive thing is bitcoin is advancing with people support, and countries in the general doesnt know how to react to bitcoin and crypto world, their step should be to tax crypto world the way they do with fiat.

[RawDog]

Bitcoin does exactly what I need it to do. I can store value while retaining the ultimate control over the asset, and I can transfer value to anyone, across any arbitrary border, without requiring the help of a middleman or permission of an authority.

It will only fail you if you had unrealistic expectations from the start.

BitPay had signed up 10,000 merchants with the expectation (probably unreasonable) that people would transact with bitcoin for things other than store of value. 

Now that Holiday is satisfied with his 'store of value' use, let's just throw away all other anticipated uses. 

Fuck.