Bitcoin was not what we were promised - there I said it!

[aoluain]

The language the OP uses is just wrong and actually shows that there are
people out there who are maybe a bit misled as to what bitcoin was created
to do, what it has morphed into and the general workings surrounding it.

As others have pointed out, there was and is no promise.
"How the people will have control of their money" well we all have control of
our own bitcoin regardless of its FIAT value.

I cannot see bitcoin going as low as $1000, the buy orders for cheap coins
would kick in long before it got that low.

[thunderbitz2717]

I'm telling you that there's going to be a dump in december. bitcoin has lived up to what it promised: immutability.

What do you mean by " Going to be dump in December? ", And besides dumping coins in the market can be happen at any moment, this is all what I observed being here in this business as well.  And for me, I don't believed that Bitcoin will go down again in 1000$, because of its decentralization why bitcoin has a high capability to bounce again one day.Lets just wait see on the right time. Just, hold!

[thebadhatter]

and having these kind of people lead us to the future is nothing less than a nightmare and the possible end for Bitcoin and all crypto. What a wasted chance all of this is ending up to be!

Yeah we have you know Hitler, Stalin and George Soros, Hillary Clinton, Nicholas Maduro and the Obamas.

[jwcastle]

Well, I think the "promise" was to replace fiat in a low cost and fast p2p payment system. That has failed to materialize in any meaningful way. Don't get me wrong, it still can happen. Just that it has not happened yet and the general public has not embraced bitcoin as a fiat replacement.
Decentralized just means that no one entity has control or large influence on the network. An entity could be a government, a company, a group, or a single person.

[thebadhatter]

Well, I think the "promise" was to replace fiat in a low cost and fast p2p payment system. That has failed to materialize in any meaningful way. Don't get me wrong, it still can happen. Just that it has not happened yet and the general public has not embraced bitcoin as a fiat replacement.
Decentralized just means that no one entity has control or large influence on the network. An entity could be a government, a company, a group, or a single person.

Ripple?

[russelluk]

First of all you were not promised anything. Maybe is this just your imagination or lack of knowledge or information but who do you think exactly made some promis to you?
Bitcoin still is decentralized cryptocurrency, no matter what some conspiracy theories say. Yes, whales have some influence on the market but you can't blaim them for everything that is happening on the market, like the latest dump.
I know that bitternes is talking out of you but try to be rational and don't blaim Bitcoin or others for bad decisions or losses that might have happened to you.

Who is blaming Bitcoin? - its nothing but an dam algorithm. Rather than putting the Mr superiority hat on try and understand that what is happening to Bitcoin right now is the reason why its survival is in crisis. Its not about nit picking its just a fact that is pissing many people of.

[russelluk]

The language the OP uses is just wrong and actually shows that there are
people out there who are maybe a bit misled as to what bitcoin was created
to do, what it has morphed into and the general workings surrounding it.

As others have pointed out, there was and is no promise.
"How the people will have control of their money" well we all have control of
our own bitcoin regardless of its FIAT value.

I cannot see bitcoin going as low as $1000, the buy orders for cheap coins
would kick in long before it got that low.

Please do not come back with the I know more than you attitude. I am expressing an emotion felt by many right now. Yes you are correct there is no promise and there was no promise - everyone takes there own risk with Bitcoin which I do understand. My point is that the infighting and the childish behavior of so many people in the crypto community is what will inhibit its general adoption. Like it or not most people are in Bitcoin for investment and making money and not some idealistic free the world notion.

[jeromix]

I feel you also as an investor with BTC. All of my hard earn money will be put to waste and I had some regrets already on why I had invested this kind of system though I know that there is a high risk in investing BTC. Thus, I never thought that it is really indeed a high risk. I was just only thinking about entrusting my money to someone and getting a digital coin in return which in real life it could never had its used. After that the real struggle started as the BTC market price fall down for more.  

[russelluk]

I feel you also as an investor with BTC. All of my hard earn money will be put to waste and I had some regrets already on why I had invested this kind of system though I know that there is a high risk in investing BTC. Thus, I never thought that it is really indeed a high risk. I was just only thinking about entrusting my money to someone and getting a digital coin in return which in real life it could never had its used. After that the real struggle started as the BTC market price fall down for more.  

Thanks - that is exactly my point. Yes we all know the risks and we take them. What people have to realise is that the destruction like what we are seeing again can only happen so many times before what I believe will destroy Bitcoin. Not that many Bitcoin investors are libertarians or idealists that are only thinking about the freeing the world. No they are everyday people that hurt when they lose their money and they don't need people giving them lectures on what they need to understand.

[ribowo76]

Whatever happened to the crypto market today, personally. I still believe that bitcoin is decentralized. Because in my opinion, no one can fully control bitcoin. The fall in bitcoin prices this year, because there are too many negative issues regarding bitcoin

[anakinbetrayal]

Yes

[RocketSingh]

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

[Peacemaker1994]

I must say by your topic you where not involved in cryptocurrency by last year of you where you would have a different notion. This year has generally not lived up to the expectations

[CryptoRama]

what was promised to you? to me was promised one way of making money, maybe being decentralized to at least some point and it's a nice technology, I mean, I know it's the biggest scams out here, because of the manipulation, but tell me, what is fair in this world, where will you get the thing as promised? are you joking? do you think they care about your well fare? they only want to feed bitcoin and scam people who are buying bitcoin at 18000$ or 10000$...

I know the risks, if you weren't warned about them, then you should read more about it... Here I'm being honest to you.

[XinXan]

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

Yeah just like anyone can volunteer to be the president of the United States. You can be one of them if you know what you are doing just like politicians, 99.99% of the crypto community do not have enough knowledge to be one of them.

[RocketSingh]

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

Yeah just like anyone can volunteer to be the president of the United States. You can be one of them if you know what you are doing just like politicians, 99.99% of the crypto community do not have enough knowledge to be one of them.

You seem to have confused the basics of centralization & decentralization. If you disagree with US president, you can't fork the US. But, if you disagree with the lead maintainer of Bitcoin Core, you can fork the Bitcoin Chain.