kwakgyimah
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October 31, 2018, 10:17:49 PM |
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It is complicated though, I dont think most members of the forum have access to the forum or have had the chance to read the bitcoin whitepaper. I believe their deviation from the core vision of bitcoin as speculated by Satoshi is merely due to ignorance. I dont think people are intentionally deviating from bitcoin's philosophy hence we need more education on the whitepaper.
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Rozita
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October 31, 2018, 10:27:57 PM |
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Bitcoin is an asset which its price will likely rise. This is what many people expect. It's normal people are thinking about the profit they can make using this opportunity. Bitcoin will be finally used for what it has been created.
Consider Facebook. Many people are using that and are enjoying. But there were many people bought its shares at low price for big profit. Bitcoin is the same.
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Aponkye1
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October 31, 2018, 10:56:37 PM |
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Well in a way yes in the sense that bitcoin was created to serve as another mode of payment system but it is being used more as an asset than a medium of conducting transactions. However, we must not give up hope since such a change within our traditional financial systems could take time but we know that in the future things will get better.
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muncuss
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October 31, 2018, 11:56:15 PM |
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Maybe because the supply is very limited and it's hard to generate more because of the company mining it, and everyone puts value on it and everybody wants to acquire compared to dollar where you can resupply, you can only do this if you will fork Bitcoin and many coins are forked of Bitcoin but they are not gaining support enough to topple Bitcoin.
you are right. bitcoin created to be an asset than a currency/medium exchange. Proof of Work causing centralized mining and limited supply is not suitable for a currency/medium exchange coz number of ppl will always growing more and in the end will be not enough satoshi for all people to hold it |
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TheUltraElite
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Call your grandparents and tell them you love them
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November 01, 2018, 07:34:26 AM |
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It is complicated though, I dont think most members of the forum have access to the forum or have had the chance to read the bitcoin whitepaper. If someone is going to put their money into some new project they should read the whitepaper. Although bitcoin has become so popular, yet it is true that many people never actually read the original whitepaper of bitcoin before buying it or supporting it. But that did also shape the basis of starting other projects based on ICOs. I believe their deviation from the core vision of bitcoin as speculated by Satoshi is merely due to ignorance.
There literally has been no deviation. This thread has become a shitposting tavern like the thousand other threads in this section. I dont think people are intentionally deviating from bitcoin's philosophy hence we need more education on the whitepaper.
Education of whitepaper does not make any sense. We should propose that people do read the whitepaper and understand the philosophy better. However not everyone's acumen is the same.  |
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maxilopez
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November 01, 2018, 11:39:22 AM |
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we really chose the wrong path that preached Satoshi and it seems to me that this is not the right choice
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jaloto
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November 02, 2018, 11:06:15 AM |
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Yes, we are, but that's just because we discover and maximize its opportunities. It's a natural process. As long as bitcoin and its technology develop, they will bring new opportunities and new focuses on how to use them. It is not bad, it’s just the next stage of development.
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rosemary4u
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November 02, 2018, 12:40:18 PM |
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The result of satoshi's vision is to gain worldwide acceptance of his decentralised currency. However there wont be much interest unless there is huge profits involved. I'd say it is working so far
You are right, that is exactly what I was thinking about. I believe we are still focus on spreading the good news of bitcoin to the rest of the world. I think bitcoin enthusiasts have not deviated from the core philosophy behind bitcoin. There are many issues such as government interferences that is hindering the progress of bitcoin across the globe. |
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sinkfish
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November 02, 2018, 01:39:35 PM |
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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.
when come to money. it can corrupt anyone. |
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sublime5447
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November 02, 2018, 06:04:35 PM |
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I don't think there is anything wrong with that, Satoshi-sama have thought that the value growth can be used as an investment tool, but in the practice it occurs that the movements are wilder than they usually do. Like the USD, when the price rise, the holders of the USD will go straight to exchange it into local currency even though the initial purpose of creating USD w asn’t for this but it was a common thing for us to do. |
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kabum21 (OP)
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November 02, 2018, 06:38:48 PM |
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It is complicated though, I dont think most members of the forum have access to the forum or have had the chance to read the bitcoin whitepaper. If someone is going to put their money into some new project they should read the whitepaper. Although bitcoin has become so popular, yet it is true that many people never actually read the original whitepaper of bitcoin before buying it or supporting it. But that did also shape the basis of starting other projects based on ICOs. I believe their deviation from the core vision of bitcoin as speculated by Satoshi is merely due to ignorance.
There literally has been no deviation. This thread has become a shitposting tavern like the thousand other threads in this section. I dont think people are intentionally deviating from bitcoin's philosophy hence we need more education on the whitepaper.
Education of whitepaper does not make any sense. We should propose that people do read the whitepaper and understand the philosophy better. However not everyone's acumen is the same. As most posts in the forum, but well, who can blame them, the system is designed to practically reward shitposting (I do not exclude myself) at least we got some good insights and useful information, and of course the whitepaper is simple enough for a person who knows how to enter websites to understand it, it is not even necessary to understand the part of the cryptography, which for me is the most complicated one. To learn to understand the concept and the need who created bitcoin is more than enough. |
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LeGaulois
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November 02, 2018, 08:22:55 PM |
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I do think there is a deviation from the original idea, but you will always see people using it for what it was for. Both exist together and when you think about it, it's the same IRL, people use the money for their needs and some invest in. So it's a matter of users/investors ratio
@TheUltraElite White Papers are like the FAQ, nobody read them.
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DJ_Rick
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November 02, 2018, 09:52:14 PM |
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I love btc and think that it is the best coin ever. to my mind, btc philosophy is the one we should follow.
I think that btc is the best and smartest system on the market
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bigbosma
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November 03, 2018, 09:12:41 PM |
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Just at this stage of its development, people see it more as an investment. But there are people who already use it as a currency and this trend is increasing.
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Arhaan10
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November 03, 2018, 09:26:11 PM |
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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.
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jorgelugra
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November 03, 2018, 09:51:42 PM |
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I see what you are talking about but to my mind we aren't deviating from btc philosophy. It is the best technology i have ever seen and it will bring us many pros in the nearest future
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Shakiraroyce
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November 03, 2018, 10:14:28 PM |
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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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andika2018
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November 04, 2018, 02:07:48 AM |
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Most people right now more interesting on how to make profits from crypto market. When bitcoin start traded, i think people more interesting on the price rather than the philosophy because most of people just want to speculate with their money and making profits from it
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yndye
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November 04, 2018, 02:16:29 AM |
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Most people right now more interesting on how to make profits from crypto market. When bitcoin start traded, i think people more interesting on the price rather than the philosophy because most of people just want to speculate with their money and making profits from it
People just want to take advantage of the opportunity that the crypto market can offer. The exchanges that exist before are that of forex, commodities, precious metals, and stock market which already has a stable price and a lot of money has been poured in so if you are a newbie in there then you would just be eaten by the whales. If you start in the crypto market then there is still a possibility of earning a profit even if you have a small capital because it has huge movements. I don't think we're deviating from bitcoin's philosophy but instead, it would be called innovation for me because we are exploring ways of how we can make use of the coins and how it can help us in our lives. |
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Umkar
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November 04, 2018, 02:26:11 PM |
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You say the right things about the fact that we really deviated from the philosophy of Bitcoin and it was not used for the purposes for which it was originally intended. Nowadays, people treat Bitcoin in absolutely different ways. Someone considers it an investment tool, someone considers it a currency, for someone it is just an interesting toy and so on. I believe that in the future, Bitcoin will take on the features of a currency and people will treat it exactly as a currency, and not as something else, but this takes time.
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