Is Bitcoin Over?

[Lambolife]

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

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[bitmover]

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

I don't agree.

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

As it is decentralized, it cannot be shut down. A powerful government cannot shut down bitcoin now.

Proof of Work algorithm protects the network, as it is required the energy of a small country to 51% the bitcoin network.

There is no place where you can nuke with missiles and destroy bitcoin database. You can sure track some important actors and neutralize them, but it would not kill bitcoin.

Decentralization is what made bitcoin possible.

IMO, censorship resistance and lack of central authority are endgoals of a world currency, not a mean to an end.
The goal is the decentralization and the lack of central authority. This is why  bitcoin was created.

[Lambolife]

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

As it is decentralized, it cannot be shut down. A powerful government cannot shut down bitcoin now.

Proof of Work algorithm protects the network, as it is required the energy of a small country to 51% the bitcoin network.

There is no place where you can nuke with missiles and destroy bitcoin database. You can sure track some important actors and neutralize them, but it would not kill bitcoin.

I agree

Decentralization is what made bitcoin possible.

IMO, censorship resistance and lack of central authority are endgoals of a world currency, not a mean to an end.
The goal is the decentralization and the lack of central authority. This is why  bitcoin was created.

I meant that decentralization is a means to an end and that the 'end' is censorship resistance, no central point of failure, no collusion, yadayadayada. I mean you don't look at the sun and say "I don't like it because it centralizes power at its core." So decentralization does come with benefits in crypto but its not the only thing that gives it value though. I mean the users are really valuable to the ecosystem.

[lyancy005]

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

Bitcoin is just used for some reasons to people to make their self rich with this. And somehow a lot of people doesn't even care what could it do in the future.

[shield132]

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

At first I would love to answer your second question. I can give you pretty good examples of this. The republic of georgia accepted Bitfury's proposal to build their greatest mining datacenter here and offered very cheap electricity + they and government work together on integrating blockchain technologies. Such a small country appeared in a map of bitcoin world because of Bitfury's biggest datacenter and how they try to implement BC technologies. This can be an example for developed countries.

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

[bitmover]

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

I think it's not a matter of "interest".
Ripple is a cryptocurrency which has a totally different goal than bitcoin's.

Bitcoin is supposed to be a global currency, to flatten financial relations worldwide. Allowing anyone to make cheap and fast transactions to anyone, anywhere in the world. Uncontrollable by any government, "unprintable", etc...

Ripple (xrp) has nothing to do with that goal. Xrp goal is to facilitate internal bank transfers, allowing banks to transfer money between them cheaper and faster. The goal is totally different. It needs to be centralized, because it is a private service, and xrp never intended to be used globally and uncontrolled.

[Lambolife]

Bitcoin is just used for some reasons to people to make their self rich with this. And somehow a lot of people doesn't even care what could it do in the future.

Well I care and maybe you care too. It doesn't have to be everybody as long as there are still people genuinely interested in more economic freedom and less abuse from governments then lets keep fighting for this.

[HabBear]

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

By definition for an investment this has to be an incorrect definition. Intrinsic value of an investment is the net present value of the future cash flow, value, or utility that the "investment", Bitcoin in this case, provides.

And in this case for Bitcoin it's really the future value and future utility. Bitcoin was created to be a currency but the market is actually using Bitcoin as a store of value. There hasn't been an a significant increase in use as a currency.

If you want to compare Bitcoin to Gold, gold only has intrinsic value because we humans believe it is valuable.

If you want to compare Bitcoin to fiat currency, fiat currency only has intrinsic value because our governments say it does.

Maybe the intrinsic value of Bitcoin is inversely correlated to the confidence people have in their government. If there is distrust in government the intrinsic value of Bitcoing goes up because it allows us to store wealth in a unit of measure that is not owned by the trustless government.

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

I don't agree.

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

Actually, you do agree. You agree that the intrinsic value of Bitcoin comes from its "platform" because you state that Bitcoin is successful because it is decentralized.

[johnygrace]

Because at the moment it's not the end of bitcoin and altcoin because in cryptocurrency, administrators continue to support existing markets as long as possible and don't have to worry that it will end because investors will help the platform to become a bounty hunter will remain strong

[OnceTwiceThird]

Impossible bitcoin could be over because many investor keep trust with bitcoin, keep holding and waiting with bitcoin growing up to higher price, maybe bitcoin could be over when all country have banned bitcoin.

[cizatext]

I must say you title almost shifted my opinion on the subject matter, but to start with why so many attempt to created cryptocurrency before failed was due to centralized method being use and bitcoin happen to do away with that to come out as the first decentralized coin which is why it succeeded to this point and I think that is an advantage for bitcoin to remain anonymous free from third party influence and so on.

[wahyu wida]

I must say you title almost shifted my opinion on the subject matter, but to start with why so many attempt to created cryptocurrency before failed was due to centralized method being use and bitcoin happen to do away with that to come out as the first decentralized coin which is why it succeeded to this point and I think that is an advantage for bitcoin to remain anonymous free from third party influence and so on.

Centralization method is contrary to the system used by bitcoin, so that many governments are rethinking to legalize it, because it involves the economy of a country even though this system feels effective and efficient

[Lambolife]

At first I would love to answer your second question. I can give you pretty good examples of this. The republic of georgia accepted Bitfury's proposal to build their greatest mining datacenter here and offered very cheap electricity + they and government work together on integrating blockchain technologies. Such a small country appeared in a map of bitcoin world because of Bitfury's biggest datacenter and how they try to implement BC technologies. This can be an example for developed countries.

Okay but never was a fan of big mining companies like Bitfury or Bitmain

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

Decentralization is needed though, for the currency to be censorship resistant, no central point of failure, open, etc. If there is a leader, then there is someone the government could take down or forced to submission for the currency to die.

[Lambolife]

Because at the moment it's not the end of bitcoin and altcoin because in cryptocurrency, administrators continue to support existing markets as long as possible and don't have to worry that it will end because investors will help the platform to become a bounty hunter will remain strong

I dont think we will last if we rely on bounty hunters. At some point (and I think we're already there) people will want cryptocurrencies or blockchain tech to drive revenue to companies or become a popular internet currency otherwise they will go near zero.

[Lumi3004]

No, Bitcoin will not end from 2018, it has entered 2019, indeed there seems to be no change to the bitcoin chart, but believe this is still the beginning for Bitcoin many experts predict Bitcoin may rise yet the right time about that, this will all passand Bitcoin will find more glory.

[playboy654]

No, Bitcoin will not end from 2018, it has entered 2019, indeed there seems to be no change to the bitcoin chart, but believe this is still the beginning for Bitcoin many experts predict Bitcoin may rise yet the right time about that, this will all passand Bitcoin will find more glory.

Is believing ourself is very important to be stay in any field if you think Bitcoin will die then it kind will not help you at any time if you trust in Bitcoin then you can definitely get any way to get profit that's why Bitcoin will stay for long time like this.

[Naida_BR]

Bitcoin is just used for some reasons to people to make their self rich with this. And somehow a lot of people doesn't even care what could it do in the future.

That's not true. None would ever think that will get rich this Bitcoin. Of course, there are many people that they think of getting rich by owning BTC but this is just a small portion. If these people haven't studied about it in the first place and came for the technology itself then they just harm the cryptocurrency community by being part of it and bringing toxicity.

[ngusmin]

Decentralization is freedom that is easier for us to manage in accordance with what we want. Bitcoin will not end but Bitcoin will continue to run towards a better future.

[denny27]

Decentralization is freedom that is easier for us to manage in accordance with what we want. Bitcoin will not end but Bitcoin will continue to run towards a better future.

It can still be an important point that bitcoin will survive and envelop various people in the future, even today. Although indeed the development cannot be predicted for sure, but it will still provide a positive side to the economic life of many people as an alternative benefits

[coingecko]

It is surely much bigger than that. Bitcoin introduced the idea of a peer to peer money and store of value.
The idea of a decentralization system has been kickstart and it is up to us to see if it's a technology we can wield and make use of.

It is not over, it is only getting started