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Author Topic: You think we're deviating from bitcoin's philosophy?  (Read 767 times)
kabum21
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September 23, 2018, 02:09:50 AM
Merited by suchmoon (4), dbshck (2), krishnapramod (2), yndye (1), theymos_away (1)
 #1

Haven’t people thought that we are deviating a little from what bitcoin intended to be? just need to see the first pages of the forum to realize that the discussions focused more on “which crypto will generate more money in X amount of time” or “it is good to invest Y amount of money in Z currency”. Of course, I do not think this is bad, because, in the end, investors and adoption for different reasons benefit bitcoin, but I think we are moving a bit away in the goal that Satoshi had when he put his words in the bitcoin whitepaper, and how do not do it? if is so easy to get lost in the FUD, FOMO, and a cloud of thoughts, at least once a week I have to read the bitcoin whitepaper to try to not lose the way.

Maybe I’m just exaggerating but I’ll love to hear your opinions.
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September 23, 2018, 02:18:26 AM
 #2

Technically, yes we are but I think it is more of evolution. Bitcoin and other cryptocurrencies are evolving. Many investors saw its potential so we are just maximizing the possibilities. It is also a good thing because it helps promote Bitcoin and altcoins. The important thing is we know how to properly use it and not to use it on any crimes.
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September 23, 2018, 02:39:24 AM
Merited by suchmoon (4), dbshck (1)
 #3

sure. the early bitcoin users were mostly cypherpunks. the emphasis was on trustlessness, decentralization, cryptography and privacy. today, most newcomers are investors---they don't understand the technology and operate mostly off buzzwords. it's annoying, but i think it's also part of the original design. i can't find the quote, but i'm pretty sure satoshi acknowledged that if it ever caught on, BTC would become extremely valuable.

after climbing from $0 to $20k, it's only rational that some people are chasing the price. it's a distraction, but it's also a natural side effect of exponential network growth.

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September 23, 2018, 02:44:58 AM
 #4

in a way you are correct because this has happened as some people forgot that bitcoin was meant to be a currency not other things including a get rich quick scheme, store of value,... but you should not forget that usually what you read on forums is not representing the whole community specially this forum that is filled with newbies and spammers. basically what happens is that those who are in bitcoin for real reasons aren't so vocal so you don't see or hear them around here but the newcomers, specifically those looking to get rich quick, are the ones who are so vocal so what you see most is them and their confusion about why they haven't become a millionaire yet!

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September 23, 2018, 02:46:24 AM
 #5

sure. the early bitcoin users were mostly cypherpunks. the emphasis was on trustlessness, decentralization, cryptography and privacy. today, most newcomers are investors---they don't understand the technology and operate mostly off buzzwords. it's annoying, but i think it's also part of the original design. i can't find the quote, but i'm pretty sure satoshi acknowledged that if it ever caught on, BTC would become extremely valuable.

after climbing from $0 to $20k, it's only rational that some people are chasing the price. it's a distraction, but it's also a natural side effect of exponential network growth.

Yeah i remember that part too, same as mining and the reason of the limited supply, all aimed to increase the value of the coin
kabum21
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September 23, 2018, 02:49:33 AM
 #6

in a way you are correct because this has happened as some people forgot that bitcoin was meant to be a currency not other things including a get rich quick scheme, store of value,... but you should not forget that usually what you read on forums is not representing the whole community specially this forum that is filled with newbies and spammers. basically what happens is that those who are in bitcoin for real reasons aren't so vocal so you don't see or hear them around here but the newcomers, specifically those looking to get rich quick, are the ones who are so vocal so what you see most is them and their confusion about why they haven't become a millionaire yet!

Hmm, good insight, we often lock ourselves in an echo chamber, maybe I should visit other forums to see different opinions too, but is hard to get out of a comfort zone.
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September 23, 2018, 03:01:43 AM
 #7

a good thought, we all even all bitcoin investors are never aware of it. whitepaper and road map are so important for ico to attract invetsor interest, and why isn't bitcoin? is it because the value has grown far enough? I do not think so. all of that because bitcoin is decentralized and not centralized like ico. if it's made like that, I think bitcoin will grow even better.

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September 23, 2018, 06:52:15 AM
 #8

Haven’t people thought that we are deviating a little from what bitcoin intended to be?

I don't think Bitcoin is deviating, but aspects of the community certainly are.

As has been pointed out above, you do get a skewed view of the community here because the spambies outnumber genuine users by 100 or more to 1. These spambies will never bother to sit down about read Bitcoin's whitepaper. Most of them don't even read the whitepaper of whatever trash ICO they are shilling.

It's to be expected with such a large price jump over a few short years. Plenty of people buy stocks and shares in companies without really understanding what they do. It's a side effect of going mainstream.

Best we can do is ignore the spammers, and continue to work with and use Bitcoin as was intended.

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September 23, 2018, 07:25:51 AM
 #9

Personally i think Satoshi had envisioned this would happen to bitcoin. The mind
which could create bitcoin surely could figure how people would react to a rise
in value and if so, he was right.

It is a decentralised entity so it is only natural that it be used in whatever way the
majority decide, it is indeed like evolution.
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September 23, 2018, 07:29:39 AM
 #10

putting aside the social /community attitudes.

if you concentrate on the code/network affect of what developers are doing to the actual network. that too is actually deviating away from the original ethos of what bitcoin was about

decentralised
 is becoming a monarchy codebase (core reference client) that is distributed.
we have lost the diverse code bases of multiple teams separately making full nodes. hense why this months 'bug' has proven to be a risk. decentralised and distributed are 2 different things

borderless
 is becomeing walled up and bordered. we seen the fee mechanism ripped out. causing a fee war, which has caused a barrier of entry to 3rd world countries where the fee of even just 5cents+ is more than a hours labour for some countries. thus they have been chucked to the side.
the monarchy/hierarchy mindset of trusting core has made a barrier of consensual unity of different idea's. instead theres now a singular roadmap that the community fight over and created a barrier where if people dont like the monarchy's roadmap they are told to cross the border and use something else "F**k off" basically (ill let you decide if **= UC or OR)

permissionless
with developers themselves saying bitcoin is broke and cant scale but commercial side services are the future, requiring smart contracts of co-signing parters, is eroding the permissionless part of handling funds. also the reliance people have of preferring to have funds held by custodians. and ofcourse where new developers and interested parties now have to leap through a 3 hop process of moderated venues just to get a code proposal listed before it even reaches the 'reference' client

..
we need to get things back to the simpler more diverse times of 2009-2013 where things were not so manipulated/influenced by certain entities. as bitcoin was never supposed to put anyone into a referential, preferential higher pedestal as anyone else

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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September 25, 2018, 07:28:51 PM
 #11

Yes, I noticed a departure from the main topic. Everyone is discussing bitcoins alive or dead, completely forgot about the main thing! Promotion and earnings! The second without the first does not work! We urgently need to switch from discussing gossip, to discussing and working out a new strategy for conducting transactions to change the market to the green side.

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September 25, 2018, 07:33:53 PM
 #12

Yes, I noticed a departure from the main topic. Everyone is discussing bitcoins alive or dead, completely forgot about the main thing! Promotion and earnings! The second without the first does not work! We urgently need to switch from discussing gossip, to discussing and working out a new strategy for conducting transactions to change the market to the green side.

Yes that would be a great idea to look forward for mate, let's end those blaming or speculating about negative side which isn't certain for bitcoin because it really make the situations more worst in crypto. In order to help the community grow much stronger we must find better ways to improve our situations right now, and I think changing or diverting every negative mind settings into a brilliant thinking that will help alleviate crypto reputations to 100% trustworthy.   
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September 25, 2018, 07:47:56 PM
 #13

I think that seeking profit from bitcoin is not a mistake, but this is not the main goal of bitcoin because the main purpose of bitcoin is simply to improve the financial system that has existed so far

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September 25, 2018, 09:37:53 PM
 #14

Bitcoin has been created to be a currency. But what is happening now is completely normal.  I mean the price rise is inevitable and we cannot claim those who are trying to use this opportunity.
Assume that bitcoin price was 1 dollar when it was created and it is now 1 dollar now. The total market cap is only 21 million dollar. Can it be a global currency?
Bitcoin needs to have more market capitalization to become a global currency. As the total supply is limited, so the price must rise to reach that goal.
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September 25, 2018, 10:52:04 PM
 #15

Personally i think Satoshi had envisioned this would happen to bitcoin. The mind
which could create bitcoin surely could figure how people would react to a rise
in value and if so, he was right.

It is a decentralised entity so it is only natural that it be used in whatever way the
majority decide, it is indeed like evolution.
Indeed, Satoshi Nakamoto had to assume that with increasing demand and rising prices, its speculative component will grow. He had to calculate that moment. This is really a very outstanding mind of my time. I do not consider myself a cryptogic, I am the same as many. I want to make money on cryptocurrency. Each person has his own ways of solving the tasks.
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October 12, 2018, 07:46:22 PM
 #16

Personally i think Satoshi had envisioned this would happen to bitcoin. The mind
which could create bitcoin surely could figure how people would react to a rise
in value and if so, he was right.

It is a decentralised entity so it is only natural that it be used in whatever way the
majority decide, it is indeed like evolution.
Indeed, Satoshi Nakamoto had to assume that with increasing demand and rising prices, its speculative component will grow. He had to calculate that moment. This is really a very outstanding mind of my time. I do not consider myself a cryptogic, I am the same as many. I want to make money on cryptocurrency. Each person has his own ways of solving the tasks.
And if we see the day when bitcoin completely replace our usual money. It will not be so that there will be bitcoin banks that will issue loans. And everything will return back. you have a wallet electronic.
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October 12, 2018, 08:00:29 PM
 #17

I think we're not, but perhaps the common values of what a bitcoin enthusiast must possess is somewhat inching away from its original state. But overall, bitcoin's philosophy still lives, as it's still decentralized, trust-less and an efficient form of currency and it still allows the un-banked to have a say on the growing problems on the economy. The speculative purpose of bitcoin will never be taken away, given that there is still money to be made and there are still players who are only focused on such.

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October 12, 2018, 09:04:06 PM
 #18

Haven’t people thought that we are deviating a little from what bitcoin intended to be? just need to see the first pages of the forum to realize that the discussions focused more on “which crypto will generate more money in X amount of time” or “it is good to invest Y amount of money in Z currency”. Of course, I do not think this is bad, because, in the end, investors and adoption for different reasons benefit bitcoin, but I think we are moving a bit away in the goal that Satoshi had when he put his words in the bitcoin whitepaper, and how do not do it? if is so easy to get lost in the FUD, FOMO, and a cloud of thoughts, at least once a week I have to read the bitcoin whitepaper to try to not lose the way.

Maybe I’m just exaggerating but I’ll love to hear your opinions.

I think you're entirely right but there's little that can be done to stop it now. Bitcoin will only be returned to those who truly care for its philosophy once the price falls dramatically and people no longer see it as a cash cow. I wish it were possible for both to coexist but as long as people are pursuing profit over adoption then bitcoin will struggle to live up to what Satoshi had envisaged.

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October 12, 2018, 09:17:45 PM
 #19

Absolutely on point since I have come to know a lot of people that claim to be crypto gurus yet running a ponzi scheme with bitcoins and other cryptocurrency as a sure investment , meanwhile we all know bitcoins don't give out consistent profit from holding it.

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October 20, 2018, 05:00:11 AM
 #20

Haven’t people thought that we are deviating a little from what bitcoin intended to be? just need to see the first pages of the forum to realize that the discussions focused more on “which crypto will generate more money in X amount of time” or “it is good to invest Y amount of money in Z currency”. Of course, I do not think this is bad, because, in the end, investors and adoption for different reasons benefit bitcoin, but I think we are moving a bit away in the goal that Satoshi had when he put his words in the bitcoin whitepaper, and how do not do it? if is so easy to get lost in the FUD, FOMO, and a cloud of thoughts, at least once a week I have to read the bitcoin whitepaper to try to not lose the way.

Maybe I’m just exaggerating but I’ll love to hear your opinions.
Yes, surely Satoshi Nakamoto did not prepare such a bitcoin fate. He did not create it as a speculative means of accumulating value. He created an alternative payment system, and with this, for the time being, Bitcoin does not make everything up. The infrastructure for using Bitcoin as a means of payment is practically being created very slowly. I think Satoshi would be unhappy with the current situation using Bitcoin.

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