Has Bitcoin Failed to Deliver ?

[mindrust]

Bitcoin shouldn't be compared to the internet.

What bitcoin did was more like mp3, napster, torrent did. There are many similarities. Those technologies are riots against big companies, just like bitcoin is a riot against big banks.

Bitcoin, just like the others gave us freedom.

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[Carlton Banks]

From the diversity of commentary in this thread, I think it's fair to say that it's succeeded in some areas and failed in others (and as Holliday mentioned, sometimes the failure is really of what one was expecting. However much Satoshi got right in 0.1, the very fact that Satoshi stuck with development upto ~ version 0.5 demonstrates that even he knew it was a mixture of problems and solutions).


But I would add this: the original marketing rhetoric on offer still remains a promising possibility: outcompeting the Central Banks. There's still a long way to go to achieve it, but if it can be coded up, it will be coded up. And then the Central Banks could be finished, rather quickly. What Gentlemand said is the crux of the issue: it needs to be simple enough for those with below average intelligence to use it easily, and that probably means a successful Nameserver p2p network, so it's more like using email than it is like using IRC.

[franky1]

Bitcoin shouldn't be compared to the internet.

What bitcoin did was more like mp3, napster, torrent did. There are many similarities. Those technologies are riots against big companies, just like bitcoin is a riot against big banks.

Bitcoin, just like the others gave us freedom.

bitcoin is like the internet. its a network. but the services/browsers on the network, have seemed to be pointed more in the direction of AOL branded netscape with built in mp3 player. to dominate the internet
where millions use AOL and only a few hundred thousand uses napster/torrents

no longer are people thinking about the internet as an open and diverse network, but something AOL should dominate in because they trust AOL to do a good job to give them all the internet solutions there could ever be.

shame on those people especially if they deny who is actually paying investment into the AOL brand and what AOL's actually contracted to do to promote bankers alternatives (like when AOL got bought out by time warner)

replace:
"AOL" for "blockstream"
"services/browsers" for "nodes"
"napster/torrents" for "independent node implementations"

 and analogy applies

[Ryan Dugan]

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?

Bitcoin has done what it was ment to do and so much more. Bitcoin has given us so much and ot goes hand in hand with the internet. Back in the day the internet was introduced in a not so different way to bitcoin. There were also nay sayers who now eat their words forever. People said the internet was bad. People are generally idiots.

[LanceChipFan]

I think it has succeeded in many fashions, both beyond and below expectations depending on what is being measured.

As a store of value it has performed exceptionally. As far as interaction for purchase - I typically use it as often as I can when a business accepts it simply as a vote of confidence and support for that payment method over the alternatives offered.

I admit it is difficult to inform individuals as "store of value" is a poor sale on the majority since Keynsian thinking is rampant and without much in the way of more proliferation it is difficult to suggest the value in having some conversion to use to begin with.

That said, I'm still a firm believer. It is only beginning, I think.

[sportis]

In my opinion the comparison is unfair and unequal because there are two major differences between them.

• At first, everyone had started to use net from early days remember how difficult was anyone to connect (dialup), to find something without search engines and how to convince other people that this mean would change the way in many aspects of their future life. Mass adoption was the result of education (schools, free seminars), everyday information and advertising(TV , radio). Furthermore, in recent years many countries and  public organizations offer free internet (WiFi hotspots). In addition there were campaigns like the worldwide known from Negroponte " One Laptop per Child ". Nowadays, in many countries anyone doesn't know basic computer tasks is considered "digital illiterate". 
• Secondly, internet is an extremely useful tool for banking operations. That is, web and mobile banking, wide usage of debit and credit cards, etc. On the contrary, all we know what would be the complete acceptance globally of bitcoin for banks future.

So, who will educate billions of people and who will allocate money for their information and education? Banks or governments who are seeking bank support?

[Omega Weapon]

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?

Bitcoin runs over the Internet, so the Internet is a lot more flexible and with a lot more uses than bitcoin itself, so its no wonder that the Internet got adopted so fast but one thing we must understand is the Internet is a lot older than many people think since the 50 there were ideas about developing and at the end of the 60 and beginning of the 70 the first steps were made.

[requester]

No I don't think that bitcoin had failed because there are many bitcoin inspired and bitcoin related projects happening world wide so bitcoin stand as the role model for them. An  I think that bitcoin would be the role model for the coming generations.

[pooya87]

bitcoin has failed in nothing!

i don't care about what anybody else says or expects out of bitcoin. as someone who has been using bitcoin for over two years i am mostly satisfied with it. of course i hoped that bitcoin was at a much better place like having a lot more adoption among merchants but i am still glad that it exists and has been a great tool for me to do my online payments using different services.

and on top of that bitcoin has been a great investment for me so far. and also it has introduced me to the world of trading which has been a great experience and i learned and earned a lot.

maybe it is time to stop seeing the empty half of the cup.

[Kakmakr]

Let's rather say some criminal elements within the Bitcoin community has failed Bitcoin. They saw a technology that would help them to execute their illegal activities and they tainted the technology. The media and the fiat shills focused in on those stories, and preferred to ignore all the good things that was done, because it was boring to report on that, and it did not fit their agenda.

Now we need to build something positive that was tainted by criminals. < MtGox/Silkroad/Scams >   

[Hazir]

I feel like people expect too much to fast. Hence we have to read articles like that. It remind me of Internet status in mid 90.
Back then no one thought that it will be mainstream future for all of us, it was more of a geeky kids playground.
And 10 years later no one laugh about internet's potential and usefulness - I expect we will have the same history repeated with bitcoin.

[Herbert2020]

the answer to this question depends on your expectation out of bitcoin.

some people expect a P2P money which they can use to send money to anyone, anywhere fastest way possible with highest security and cheapest costs. for that i say bitcoin is spot on.

but some others expect reaching moon with bitcoin as in getting rich over night, or to see it everywhere they look as in mass adoption. for that i say we are a far way from this goal but it is still not a fail since bitcoin is still a beta technology and it is in its early stages.

[davis196]

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 it`s too soon to say.

The bitcoin project is only 7 years old and there is  room for development and growth.

The influence of bitcoin over the world is still very small.

[stark101]

Has bitcoin Failed to deliver? Deliver what?

As my thought, every things here became failed even we dont want to. Even bitcoin failed in its goals. Yes, bitcoin has been around now for long years or decade rather. Yes, bitcoin has been adopted globally by technology, but did we ask ourselves that, what does it have to show for itself?

[chesatochi]

I don't think bitcoin has failed, I start using it only this year for myself. So, as you can see more newcomers are using it every day. I truly believe bitcoin is in a phase of expansion and news services will appear on the way.

At the moment bitcoin has proved to be a mature technology with a nice track record.

• Good refuge currency that keeps its value
• Can send value without too much fee
• Can be a good investment for the future

[Rotator]

Problem is not in Bitcoin, people are refusing to be changed, it is simple, as Stockholm syndrome nobody realises what happening and victims are always guilty..Stop this violence!

[Sir Alpha_goy]

All it delivered was Pizza.

http://lunaticoutpost.com/thread-713227.html

[Sir Alpha_goy]

Bitcoin is about to have a Paycoin moment.

 

[serjent05]

Problem is not in Bitcoin, people are refusing to be changed, it is simple, as Stockholm syndrome nobody realises what happening and victims are always guilty..Stop this violence!

Probably it is the people but people acceptance decide if bitcoin delivers or not. Though I say, it is too soon to say bitcoin failed to deliver, development are still in there, unless everything stops and people abandon bitcoin then maybe that is the right time to say it failed not only to deliver but failed miserably.

[pinkflower]

That's just an article that is trying to get some reaction from the community. If he really thought hard about the topic, he would realize that BTC has delivered enough innovation in the payment space to move it forward. Terrorists even, are getting interested in the technology.