Welcome to Bitcoin. The reason it is successful is because it is not the old way

[Elwar]

After the run up in 2013 the result was a lot of new people that are used to the old way of doing things and so they started trying to make Bitcoin fit in with the old systems "let's regulate it!" "why not use the underlying technology in banks?!?"

It reminds me of people leaving shitty Massachussets and moving to New Hampshire, then voting for taxes and big government programs that they had in Taxachussets. The reason it is a better place to live is because it doesn't have the shitty policies of your old state Massholes.

Same with Bitcoin. The reason it works is because it isn't the shitty old system. Don't try to force it into the old shitty ways of finance. If you want to help make the price rise, come up with new ideas and new technology to make use of this new system. Don't look to the government or banks for the answer.

[1715330566]

1715330566

[1715330566]

1715330566

[1715330566]

1715330566

[1715330566]

1715330566

[MicroGuy]

The reason cryptocurrency will be successful is because it can do two things that old fiat money can't.

1.) It brings the absence of a central authority that can inflate the currency at will.
2.) It allows distant person-to-person transactions in the absence of an intermediary.

Email obsoleted snail mail correspondence. Cryptocurrency will obsolete fiat money through absence.

[culexevilman]

"A switch in perspective is also vital in viewing everything from Satoshis to Dollars.

Only then will you truly observe the magic of Bitcoin"

Culex

[dreamhouse]

The reason cryptocurrency will be successful is because it can do two things that old fiat money can't.

1.) It brings the absence of a central authority that can inflate the currency at will.
2.) It allows distant person-to-person transactions in the absence of an intermediary.

Email obsoleted snail mail correspondence. Cryptocurrency will obsolete fiat money through absence.

Adding to it is the security and tamper-proof which is essential to financial systems.

[Wind_FURY]

The reason why Bitcoin works and why it makes sense is because it can penetrate in niche markets where banks do not want to serve. A good example of this is the dark markets. It is flourishing and prosperous thanks to Bitcoin. Without it as an underlying medium of exchange, such a market online will not be possible.

[tbolt256]

I think it's safe to say that the world will eventually switch to a bitcoin based currency system.

[tiggytomb]

One other great feature of bitcoin is that it is open to everybody old and young, rich or poor and does not discriminate or require you to pass any credit check, or jump through hoops to own it.

This is a major reason why bitcoin will become the norm in years to come.

[franky1]

but anyone who wants no central bank/middleman/intermediary.
if i see you later praising LN as the only solution to bitcoin. you have already failed in wanting an open system.

oh and dont give real bitcoin supporters the dooms day of data centres and data bloat.

7 years of data fits on a fingernail not a datacentre



lets cencentrate on growing bitcoin and expanding it while remaining permissionless.
lets not feed into the banker paid drivel that bitcoin can only head in one direction.

[Przemax]

Bitcoins is like the Lannisters. Always pays its debts. Ment to slay the kings, ahem banks. Its power is hidden and spread like a virus. Yup. Thats the oldschool powergrab.

It even has its own idiots like Joefreys that are having some seriously fucked up ideas like forks and such.

And yes mainly the love of incest and flattering every bitcoiners by eachother is another halmarck of the house of Lannisters.

[Wind_FURY]

but anyone who wants no central bank/middleman/intermediary.
if i see you later praising LN as the only solution to bitcoin. you have already failed in wanting an open system.

oh and dont give real bitcoin supporters the dooms day of data centres and data bloat.

7 years of data fits on a fingernail not a datacentre



lets cencentrate on growing bitcoin and expanding it while remaining permissionless.
lets not feed into the banker paid drivel that bitcoin can only head in one direction.

We do agree with each other that Bitcoin will need bigger blocks at some point in time. If LN is implemented, I believe bigger blocks should be next in the menu. We do not want a bottle neck happening on a regular basis when people close payment channels.

I also agree that storage will not be a problem. But what about bandwidth?

[The Sceptical Chymist]

The reason cryptocurrency will be successful is because it can do two things that old fiat money can't.

1.) It brings the absence of a central authority that can inflate the currency at will.
2.) It allows distant person-to-person transactions in the absence of an intermediary.

Email obsoleted snail mail correspondence. Cryptocurrency will obsolete fiat money through absence.

I still write snail mail letters, but not many of them.  Part of me is stuck in my old ways.

I agree about government agencies inflating the currency at will thing.  However, I would be extremely concerned about bitcoin's volatility.  There's no way in hell bitcoin or anything else that trades on a free market is going to work as a currency if it continues to be this volatile.  Yeah, we love the big bull market when we're holding...but that totally discourages spending bitcoin.  How do we get around that?

[~Bitcoin~]

I think it's safe to say that the world will eventually switch to a bitcoin based currency system.

Actually this also sound world will switch to blockchain based currency system which will be as centralized as fiat is right now with unlimitated supply and inflation. We just need to focus on using bitcoin in multiple sectors and should not be limited to gambling, porn and black market industry.

World need to switch to bitcoin not to bitcoin based currency system.

[Dmitry.Vastov]

Theres many reason why bitcoin now is conquering the markets. Its an easy way to have investments. Having bitcoin itself acts as your investment. Just hold it and dump when it pumps up. No interference from the government since bitcoin is anonimous. They cant chase you unless bitcoin is illegal in your country. Its also a faster way to transfer your funds in a cheap amount. Just put your miner to priority. No wonder why bitcoin is on top right now.

[Xester]

The essence of decentralization is the ms to ain reason why average people shifted to bitcoin. In the older system the banks are using our money but we dont enjoy the interest but if we loan our money we suffer huge interests rate. We are playing in their hands with their own rules. Bitcoin has brought innovation in the financial world, it allows users to be masters of their bitcoins and enjoy 100% of their interest rate from the inflation of bitcoin in the market. Secondly, due to its anonymous feature people from the darkweb has shifted from fiat currency  to bitcoin for secrecy and fast transaction.

[Shenzou]

It is without doubt that the reason that bitcoin became a really popular is because of its price , so many people didn't even know what bitcoin was a few years ago but after the huge rise in its price no wonder it had a huge success in both investment because it rises quickly and the usage by many people  because it is easier to use than real money and safer to use on the internet and i really think that is where the world is headed in the future.

[unamis76]

Excellent post. I hope people who make threads like "would you make a Bitcoin account on your bank" read it. Unfortunately, I guess only people who don't make these kinds of threads will read this.

[ikydesu]

-snip-
Same with Bitcoin. The reason it works is because it isn't the shitty old system. Don't try to force it into the old shitty ways of finance. If you want to help make the price rise, come up with new ideas and new technology to make use of this new system. Don't look to the government or banks for the answer.

This is the point why SN created bitcoin.

Sadly what can i see is people have no idea what the things which can improve bitcoin to the higher level, or even too lazy so just want to more adopter, become mainstream by regulated by govs which people interesting and might be make buy wall, instead the government will take an opportunity i think, put a tax.

[Kprawn]

No technology will survive, if it is not regulated in some form, because the governments will not allow for that kind of freedom. Bitcoin has

not conformed to the old ways, but centralized services using Bitcoin were forced to adhere to all these silly KYC/AML regulations. You can

still bypass these services and use Bitcoin directly as it was supposed to be. 

[rickadone]

We can all agree that the bitcoin has become a really popular thing among the internet users since it is a really secure and easy way to use money on the internet , instead of using credit card which contains all of your personal data which are easy to hack.

Since it is a rising thing bitcoin has made a huge impact in the investment industry and as the price keeps rising every day which makes it a very profitable thing.

[yayayo]

After the run up in 2013 the result was a lot of new people that are used to the old way of doing things and so they started trying to make Bitcoin fit in with the old systems "let's regulate it!" "why not use the underlying technology in banks?!?"

It reminds me of people leaving shitty Massachussets and moving to New Hampshire, then voting for taxes and big government programs that they had in Taxachussets. The reason it is a better place to live is because it doesn't have the shitty policies of your old state Massholes.

Same with Bitcoin. The reason it works is because it isn't the shitty old system. Don't try to force it into the old shitty ways of finance. If you want to help make the price rise, come up with new ideas and new technology to make use of this new system. Don't look to the government or banks for the answer.

Well said! Unfortunately I feel that the number of new users pouring in into these forums does not really understand Bitcoin and the fundamental reason why it has become valuable. All these trader-type speculators see is a method to make a quick fiat-buck.

But luckily the beauty of Bitcoin is that it is quite resilient against nanny-state regulation (read restriction). Unless passive-aggressive lunatics like Roger Ver succeed in forking Bitcoin into some kind of crippled Paypal 2.0 fiat nightmare, Bitcoin will maintain its attractiveness as a decentralized currency regardless how many digitized fiat versions central banks will be trying to market as innovation.

I'm pretty sure that all these idiotic private centralized blockchain projects will just be a giant sink hole for (taxpayer's) money with a success rate of zero. MintChip was the first epic fail in that regard.

ya.ya.yo!