Has Bitcoin reached its goal?

[jongo]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies.  When the altcoin market is examined, it is inextricably linked to the price of Bitcoin.  Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.

What do you think?  I'd love to hear from some crytpo veterans.

[1713451202]

1713451202

[1713451202]

1713451202

[1713451202]

1713451202

[BitcoinHodler]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022),

this is not the "price goal", it was one of the many speculation of what the price may be by then.

but the goal that it would be a legitimate alternative to inflationary government fiat currencies.

if by "legitimate" you mean something that the government approves then you are wrong this is not the bitcoin goal either.

Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles;

there is a simple explanation for it, people don't care about altcoins!

[jongo]

if by "legitimate" you mean something that the government approves then you are wrong this is not the bitcoin goal either.

Why would anyone assume "legitimate" means "government-approved"?  Legitimacy is not a legal concept.

there is a simple explanation for it, people don't care about altcoins!

We heard the same about Bitcoin...

[MakeMoneyBtc]

Bitcoin is just about 10 years old and I dont think that is enough to reach it's goal. We actually dont really know what is the real goal of bitcoin but it probably is to change the world of paper money and fight against criminality and illegal activities.

(we all know it's going to be $250,000/coin by 2022)

We dont know what the price is going to be even tomorrow what about 2022. Until then bitcoin could even disappear from the market even though it seems impossible for everyone,it is possible. Bitcoin also has a price goal, set by the people and I think that is about 1.000.000$. It doesn't have to reach this price before a certain time, the goal is to reach it someday.

[BitcoinHodler]

if by "legitimate" you mean something that the government approves then you are wrong this is not the bitcoin goal either.

Why would anyone assume "legitimate" means "government-approved"?  Legitimacy is not a legal concept.

well English is my second lagnuage and according to Cambridge dictionary "Legitimate" means "allowed by law", and who sets the law but the government?
if you meant something else then i am all ears.

there is a simple explanation for it, people don't care about altcoins!

We heard the same about Bitcoin...

we hear a lot of things about bitcoin...

[Hui8]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies.  When the altcoin market is examined, it is inextricably linked to the price of Bitcoin.  Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.

What do you think?  I'd love to hear from some crytpo veterans.

I dont think its working as inflationary alternative to government fiat currencies, I mean that change is not even observable in the current era. Fiat is still the strong hold and tell you what gold is still the best asset in this world no matter what you talk about the bitcoin or what price bitcoin has got today.

In general public the best currency is still fiat and best store value is still gold. It is just that you and me are more or less dedicated into crypto thats why we see the fusion of it. But come on look at the world population and look at the number of people involved in it.

(we all know it's going to be $250,000/coin by 2022),

From where that is coming, I dont know anything about that.  

[tungaqhd]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies.  When the altcoin market is examined, it is inextricably linked to the price of Bitcoin.  Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.

What do you think?  I'd love to hear from some crytpo veterans.

I think not yet, Bitcoin has became popular, many people use it for different purposes but we still see some disadvantage: hacking, banned by some country.

[jongo]

well English is my second lagnuage and according to Cambridge dictionary "Legitimate" means "allowed by law", and who sets the law but the government? if you meant something else then i am all ears.

legal, lawful, licit, legalized, authorized, permitted, permissible, allowable, allowed, admissible, sanctioned, approved, licensed, statutory, constitutional

[9jaflick]

Bitcoin story has so much more to it than just headline-grabbing pricing swings. visit https://www.cnet.com/how-to/what-is-bitcoin/

[jongo]

From where that is coming, I dont know anything about that.  

Yeah my price prediction was completely tongue-in-cheek.  I agree there is yet to be a public embrace of Bitcoin; but I think as Big Capital starts to develop more commercial applications with Bitcoin you will see more utilization.

[1993jochico]

No, bitcoin still dont get its main goal even if we are not talking about its price.

Many people still have no idea about what it is and I think its goal is to be used by all people in the world.

[Hwijaya29]

In my country bitcoin still didn't get legitimate. The government still worry if bitcoin someday will leading fiat currency and make economic in that country collapse

[Xester]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies.  When the altcoin market is examined, it is inextricably linked to the price of Bitcoin.  Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.

What do you think?  I'd love to hear from some crytpo veterans.

Bitcoin is still very young and it need to grow before it can fulfill its destiny of becoming a form or medium of exchange in buying goods and services in any society. Today there are still few users in the world and mostly of the bitcoins were ate the hands of the big whales. As long as bitcoin is not distributed to the masses and it is not used in daily activities in life then bitcoin have not reached its full potential. Remember it is not about the bitcoins price but is about its purpose.

[jongo]

Bitcoin is still very young and it need to grow before it can fulfill its destiny of becoming a form or medium of exchange in buying goods and services in any society. Today there are still few users in the world and mostly of the bitcoins were ate the hands of the big whales. As long as bitcoin is not distributed to the masses and it is not used in daily activities in life then bitcoin have not reached its full potential. Remember it is not about the bitcoins price but is about its purpose.

I agree - until there is more commercial utilization of Bitcoin, it will be primarily a speculative investment.  We should all read the tea leaves though: investment firms are taking positions in Bitcoin after it crashed in January.  They were/are long on Bitcoin at $9000/coin

[xuan87]

No Bitcoin hasn't reached the goal yet, Bitcoin supposed to be the world currency where everyone in the world can used it to buy anything, now the adoption rate is still low, and the government keep on blocking the adoption, and the Bitcoin feature itself still not yet ready, the speed and the fee still troublesome, so I think need more time to adopt this technology

[Kotone]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies.  When the altcoin market is examined, it is inextricably linked to the price of Bitcoin.  Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.

What do you think?  I'd love to hear from some crytpo veterans.

No, I don’t think that bitcoin is there yet. True, a lot of milestones and forsts have been broken and achieved by bitcoin in the whole of the cryptocurrency market. However, there is still a lot of work to do, it is in the forefront of the battle and pushing the name of cryptocurrency and the wariness of countries and institutions should be enlightened by those that are like us users and they must know the truth that this is the future and the future is now.

[jpespa]

I think bitcoin is far from its goal. We already knew that some countries have banned bitcoin, other countries have not reached or cannot be reached by bitcoin yet maybe because of their slow progressing technology. I think bitcoin will finally reach its goal if it becomes stable in every aspect of its existence and it will be legally accepted around the world

[GeorgiyBilyk]

I'm sure that the bitcoin will grow many times over! now it's good to invest in it! so to say the sale began!))) then the price sank, so it was temporary! The next goal is $ 25-30000 this year! waiting for new records for the price!

[malbterxic]

If I understand correctly, it is about whether BTC has achieved its main goal?  I'm afraid this question does not have an unambiguous answer, since no one knows for sure the ultimate goal of the BTC. It can not be called a full currency, such as a dollar or euro. But at the same time, the BTC fulfilled the task of popularizing crypto-currency.

[Fulmand]

I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022),

this is not the "price goal", it was one of the many speculation of what the price may be by then.

but the goal that it would be a legitimate alternative to inflationary government fiat currencies.

if by "legitimate" you mean something that the government approves then you are wrong this is not the bitcoin goal either.

Where Bitcoin goes, so does the rest of the cryptocurrencies.  There's even somewhat of a dismissive attitude toward other crytpos in some investment circles;

there is a simple explanation for it, people don't care about altcoins!

I think that bitcoin continues to strive in the market. If you mean goal to reaching the approval of the government and become mainstream i think it has not reach to that point  yet but the direction is and that it will be adapted world wide. There is so much potential in bitcoin and with other altcoins emmerging it just means that people are at constant look out for a better crypto. Yet so far bitcoin continues to dominated the cryptocurrency world. Judging from the backlash against fiat money and negstive advertising financed buy group of people who are against bitcoin I can finally say that the goal yet to be achieved. One day I hope that i will become mainstream and once it does then by that time it had finally reached it's goal.