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Author Topic: Which Bitcoin Features Are Still True?  (Read 1537 times)
iamTom123
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April 05, 2017, 03:36:33 AM
#1

I saw this post on an advertising site and I think it reflects the Bitcoin we know when it just started. Please tell me which of the features talked by the quote can still be true...here it is:

"Have you ever heard of cryptocurrency? In short, it is a digital currency. At the moment, the most popular cryptocurrency is BitCoin. It is more advantaged than common currencies and bank accounts. BitCoin is not controlled by anybody. It does not have an owner, which means that no one is able to freeze or to take away your capital. You can send money anonymously halfway around the world for free in the blink of an eye. You can use BitCoins to pay for your online shopping, you can withdraw them from a cash machine, you can even buy a car with BitCoins! More and more companies decide to make BitCoins a fully acceptable form of payment. "


As the number one cryptocurrency is evolving fast, it is growing by leaps and bounds and is changing its colors and features along the way.

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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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April 05, 2017, 03:57:01 AM
#2

many  of the features are sure to be true like
-bitcoin is the first digital cryptocurrency.
-bitcoin is not controlled by anyone
-bitcoin can be send to any part of the universe without the permission of anyone.

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April 05, 2017, 03:57:08 AM
#3

all of bitcoin features are still true and none of them have changed.
- it is still decentralized
- secure
- cheap
- not anonymous but keeps your privacy to some extent.
- and you can still use it for payment even more so than before since there are much more places that accept bitcoin.

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April 05, 2017, 04:06:21 AM
#4

all of bitcoin features are still true and none of them have changed.
- it is still decentralized
- secure
- cheap
- not anonymous but keeps your privacy to some extent.
- and you can still use it for payment even more so than before since there are much more places that accept bitcoin.
Yup bitcoin is still decentralized that is why bitcoin is still alive until right now
bitcoin is still secure there are not find hacking issue on bitcoin network
bitcoin is still cheap be compared with traditional payment
Early features of bitcoin is still same until right now.

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April 05, 2017, 04:19:19 AM
#5

I saw this post on an advertising site and I think it reflects the Bitcoin we know when it just started. Please tell me which of the features talked by the quote can still be true...here it is:

"Have you ever heard of cryptocurrency? In short, it is a digital currency. At the moment, the most popular cryptocurrency is BitCoin. It is more advantaged than common currencies and bank accounts. BitCoin is not controlled by anybody. It does not have an owner, which means that no one is able to freeze or to take away your capital. You can send money anonymously halfway around the world for free in the blink of an eye. You can use BitCoins to pay for your online shopping, you can withdraw them from a cash machine, you can even buy a car with BitCoins! More and more companies decide to make BitCoins a fully acceptable form of payment. "


As the number one cryptocurrency is evolving fast, it is growing by leaps and bounds and is changing its colors and features along the way.

I believe the stated features of BTC above are still true in a sense. It is still indeed the most popualr crypto out there and the technology that it has tramples of those from the banks. BTC is still decentralized though some parties are trying to control it for their own good. It is somewhat traceable but it is still anonymous if you know what you're doing.

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April 05, 2017, 04:46:38 AM
#6

you need to start using bitcoin to understand what features bitcoin has or doesn't have.
others saying stuff here are not going to change anything for you and what you perceive of bitcoin. try finding something online you want and buy it with bitcoin, or make a payment or something then you realize what features bitcoin still has.

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April 05, 2017, 05:09:15 AM
#7

I saw this post on an advertising site and I think it reflects the Bitcoin we know when it just started. Please tell me which of the features talked by the quote can still be true...here it is:

"Have you ever heard of cryptocurrency? In short, it is a digital currency. At the moment, the most popular cryptocurrency is BitCoin. It is more advantaged than common currencies and bank accounts. BitCoin is not controlled by anybody. It does not have an owner, which means that no one is able to freeze or to take away your capital. You can send money anonymously halfway around the world for free in the blink of an eye. You can use BitCoins to pay for your online shopping, you can withdraw them from a cash machine, you can even buy a car with BitCoins! More and more companies decide to make BitCoins a fully acceptable form of payment. "


As the number one cryptocurrency is evolving fast, it is growing by leaps and bounds and is changing its colors and features along the way.

All this features are still valid.

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April 05, 2017, 05:12:38 AM
#8

Bitcoin still the best and top crypto currency and can't be controlled by any one and now there are some shops that accepting bitcoin so it is true that you can spend your coin to purchase something but you still can't buy car using bitcoin, you can withdraw money from bitcoin ATM machine but there are not much ATM machine in this world yet, and there are so many things that you still can do with bitcoin, so there are so many potential that can grow from bitcoin

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April 05, 2017, 05:38:25 AM
#9

2009
anonymous
decentralised
no one in control
virtually free
no barrier of entry
secure
immutible
fungible

2017
pseudonymous
distributed and diverse(until core get their tier network)
core want control(pretend to already have control since 2013)
escalating fees
only 2500tx utility a block
PoW nuke threat can kill security
mimblwimble/prunned/'anyonecanspend a segwit' on a native block attack risks immutability
pools prefer certain tx's over others

P.S
there is no point preaching to the chior trying to gloss over issues to stroke people to sleep.
those on this forum already know of bitcoin so dont need the glossy sales pitch of utopia.

whats needed is cold hard truths so that people know the real limitations risks and issues so that they can get sorted.
hiding the truth helps no one

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Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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April 05, 2017, 05:45:05 AM
#10

As quoted by Op, bitcoin has got several such  unique features. Most of the features still continue to be the truth and importantly several corporate and exchange platforms have made changes in the controllability. But it didn't went under their control and continuing to be decentralized.



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April 05, 2017, 06:44:07 AM
#11

all of bitcoin features are still true and none of them have changed.
- it is still decentralized
- secure
- cheap
- not anonymous but keeps your privacy to some extent.
- and you can still use it for payment even more so than before since there are much more places that accept bitcoin.

we can say that is more decentralized than anything else but not exactly decentralized

it is more secure, but on par with everythign that use the same 256 bit encryption

well chep is not so true anymore, sending $10 and paying $1 is not what i call cheap, that is 10% of your transaction, paypal is only chargin 3.5%....

for now bitcoin as the advantage over fiat on taxes, because apparently there is no country that tax your coins directly, therefore if you use bitcoin as a currency you can legitimately avoid tax which mean more money for you
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April 05, 2017, 06:46:20 AM
#12

- its decentralized
- since no government or private authority has control over it, no one can take away or freeze your Bitcoin assets
- doesn't exist physically
- stored in digital wallets
- can be used to make anonymous transactions
- transactions are quick and fees are extremely low

overall, it's great to use.

There is always more to learn about Bitcoin at www.btcwonder.com
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April 05, 2017, 06:51:29 AM
#13

all of bitcoin features are still true and none of them have changed.
- it is still decentralized
- secure
- cheap
- not anonymous but keeps your privacy to some extent.
- and you can still use it for payment even more so than before since there are much more places that accept bitcoin.


- it is still decentralized - yes
- secure - secure if you are seller
- cheap - Not so cheap. Now it's taking too much charge to confirmation.
- not anonymous but keeps your privacy to some extent. - Yes
- and you can still use it for payment even more so than before since there are much more places that accept bitcoin. - yes
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April 05, 2017, 07:00:33 AM
#14

I think what is important as well is what people expect of bitcoin.
From all I read people want a coin that keeps their privacy (not necessary anonymous), that can be sent quickly with low fees, and that has an increase in its value on the long run.
If bitcoin is decentralized or not, most people do not care.
Everything else can be provided by bitcoin (just sometimes the fee & speed part is debatable).

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April 05, 2017, 07:12:38 AM
#15

well chep is not so true anymore, sending $10 and paying $1 is not what i call cheap, that is 10% of your transaction, paypal is only chargin 3.5%....

if you paid $1 as fee (specially on a $10 transaction) that means you are doing a lot of things wrong. I just double checked with my Electrum wallet. in order to pay $1= ~0.0088BTC you need to have 4-5 outputs to spend which means you have received $2 and $2.5 transactions and you need to think of another way of receiving so many small payments in your wallet.

and this calculation is done with the highest current fee. you may have included lower fee/byte which means you had much more outputs to spend!

p.s. the current cost of a normal transaction is still 40 US cents.

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April 05, 2017, 08:53:01 AM
#16

Well there are many features in bitcoin, but some of them are still true even now, like:
-bitcoin is always open for all
-bitcoins' security is very strong
-bitcoin always have freedom(we can get and share from it)
-no one controlled bitcoin

So far, so good thats why bitcoin becomes the number1 cryptocurrency

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April 05, 2017, 09:00:29 AM
#17

I think the only feature that is still true is being volatile on its price because we can't deny that bitcoin is still volatile because we already witnessed a lot of price movement of bitcoin and to make this evidence stronger, some of the traders or bitcoin users here already made a lot of money because of that.

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April 05, 2017, 09:12:27 AM
#18

You can send money anonymously halfway around the world for free in the blink of an eye.
Yes you can send money anonymously anywhere in the world but not for free, this was not even true during starting phase we have to pay small miners fee to get confirmation on our transaction.

Other than this all statements are still true.

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April 05, 2017, 09:27:27 AM
#19

Most of them are true, expect send bitcoin instantly for free since every transaction need a confirmation (usually 10 minutes) and users need to add fees (unless that quote was created before 2012).
Also, you have to find online shop, ATM or merchants that accept bitcoin around you or can send the goods to your country.

But, all of them will be true again once the SegWit/BU/Extension block is activate.

numismatist
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April 05, 2017, 09:34:33 AM
#20

You can send money anonymously halfway around the world for free in the blink of an eye.
Yes you can send money anonymously anywhere in the world but not for free, this was not even true during starting phase we have to pay small miners fee to get confirmation on our transaction.

Other than this all statements are still true.

The fees are an itch indeed. I'm mostly using lowest fees possible, adding some patience.

BitCoin

Capital "C" changed. Just Bitcoin.

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