Has Bitcoin already won ?

[Distraction]

It is hard for Bitcoin to replace fiat money in the future. I think governments might not accept Bitcoin as local currency. But I think more and more people will start to use Bitcoin because of having the full control on their digital money. So, in my opinion cryptocurrencies will always continue to grow and there will always be new ones.

[legendster]

Every time Bitcoin rises up from a crash event, it wins.

And I think most people here would agree with me. I see news like Binance Coin continues to fall despite market recovery and people somehow link the failure of an altcoin to Bitcoin. And it infuriates me.

Then there are stories like that where the UK police force auction off more than £240,000 of cryptocurrency and somehow people think that Bitcoin's market volume is so weak that it can't sustain its prices if only an estimated $294,000 worth of BTC is dumped then the overall value of BTC would be depreciated..

Seriously, every time Bitcoin crashes and there are wild stories and speculation for the reason behind like those that I mentioned, and BTC keeps on bouncing back, and in all those times, Bitcoin wins.

Remember;

"Bitcoin has been described as an undeniable form of wealth with an irrefutable book of records"

[doomistake]

It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.

I believe that the greatest victory for Bitcoin will come when major retail companies like Amazon, Best Buy and the rest starts to accept it as a means of payment. I am sure that a time will come when they start doing that very soon.

Bitcoin being created by Satoshi Nakomoto, releasing it to the internet, using blockchain for this, started in a very cheap price and booming us every year for huge fluctuations(in a good way) is already a great achievement for that Bitcoin does every single day since its birth. Many people didn't believe on it first, but after years and years goes by as it evolves, those who believe in it and invested earlier made a fortune on it and it changed their lives.

And bitcoin is still doing that, every year bitcoin remains the king of all cryptocurrencies, surviving every obstacles its facing, but how? it is simple because Bitcoin is the winner since day one, and no one could ever replace that.

[CLS63]

Bitcoin is like a digital gold. Maybe Bitcoin won't be accepted as currency by countries. But I believe that Bitcoin has a very bright future and it will be better choice compared to gold every time.

[Irvinn]

Today, almost all the financial structures of the world observe the cryptocurrency market, analyzing it for possible real use in the economy of their countries.  Based on this, the Central Bank of Canada has already published its report that it is concerned about the situation regarding Bitcoin, which today seems insufficiently efficient and too expensive to mine.  As the document says, to get rid of this problem, you need to improve the speed and cost of the transaction.  Experts from the Central Bank of Canada are confident that the problems will disappear after a complete change in the consensus protocol.

[joinfree]

In my view  bitcoin is the  revolution and the fact  that the  world  is moving  into digitization era.  bitcoin has  already won the battle. Now Chinese government has  legalize  bitcoin as  digital  asset..  since  satoshi created  bitcoin in 2009 there  has  been  allot  of controversy  over  it  but  none  defeated btc..  so  the game  is  already  won by btc.     

[UsernameBitcoin]

There is no win or lose. Yes, Bitcoin is currently dominating the cryptocurrency space by far. However, there is no such thing as winning or losing because many coins have different purposes and Bitcoin just happens to be the king. So you can say that since Bitcoin is King, he is winning. but if the King has no population, then what's the point? So all of the coins matter because they contribute to the cryptocurrency infrastructure and ecosystem.

[Reosta_]

This can not be seen as that is enough. Bitcoin still has long way to go but it rapidly continues to develop. As long as Bitcoin has Blockchain technology, it will continue to improve.

[Zionatin]

It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.

Bitcoin is like easy to spend stocks. When you buy at the stock market and buy oil or gold they actually have to trade that gold and oil (I know how primitive right?) Instead of wasting all that time when you can just take your stocks themselves to a place that will accept them and spend them directly. This is one of the main advantages I see crypto has over traditional stocks. Because they not entirely tied down to something they can be traded with more ease.

[todiboa]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

I still do not understand why Bitcoin is directly compared to gold. Because of the value? I do not think that you can compare a tangible asset with a digital one. It is not right. "Gold Standard" sounds ridiculous

[Zionatin]

For me bitcoin has already won. It is my primary and first to go-to choice for payments. MOstly everyone here knows why. For me it is just the speed and the guarantee that your bitcoin is yours when it is in your wallet. No chargebacks or things like that. Chargebacks would make me worry as a merchant since some people get nasty or seem to justify themselves making chargebacks in some wat or another when they really shouldn't be making any. Buying gist cards for steam and google play is so quick. I can't buy a gift card in-store at that speed. I must drive there first. Online I must use fiat which takes too long so a digital currency works will for digital things since the speed compliments one another.

[abel1337]

I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.

It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.

Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.

Bitcoin is considered as currency, Everyone cant change that fact unless satoshi Nakamoto does a thing in order to change bitcoin.

On the gold standard, Every gold that your country had is converted into fiat.

Regarding the post of OP. The gold standard doesn't apply to bitcoin. These are the reasons.

First, You can't convert all of the fiats into bitcoin because it has a fixed asset.

Second, you won't know who is the one who is holding bitcoins

Third, Not everyone can use bitcoin


There is more disadvantage than disadvantage thats why this will never be the new gold standard.

Um yeah, I was just saying I'm not really a believer in Bitcoin being the gold standard or that Bitcoin is Gold 2.0.

Rather different reasons (or at least, not all the same reasons as you) but yeah, you could convert out all the Bitcoin to dollars right now and not have enough coin, is one reason.

But are you saying we all know who holds all the gold as well? That's not at all possible.

Nope, The gold standard happened before and everyone is obsessed with gold. The more you have is the more you can produce fiat. Every country is sorting the gold amount they have and converting it into fiat.

I just think Its hard for bitcoin to be a new gold standard especially bitcoin has a fixed amount and gold are keep increasing. It won't pair each other.

We know we can't still use bitcoin as our global currency which adds to the factor of not having bitcoin as the new gold standard.

[Blackdeath]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

You cannot say that bitcoin is gold 2.0 because they are different. Maybe in the price bitcoin is much higher than gold but bitcoin is a cryptocurrency and intangible while the gold is a tangible one. Bitcoin will be a cryptocurrency forever unless Satoshi makes a decision about the bitcoin.

[Sithara007]

It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.

Can't put it any better than this. Bitcoin is the king of cryptocurrency right now. But that doesn't mean that the development activity should be ignored. If we want Bitcoin to remain at the no.1 position in the near future, then innovations needs to be made to the existing technology. A lot many good proposals are being put forward, but only some of them are being implemented due to the lack of consensus.

Talking about the second layer, the implementation of the Lightning Network has made the life easier for a lot of the Bitcoin users. The transaction fees has come down to tolerable limits and after its implementation, Ethereum lost one of its advantages over Bitcoin (as evident from its steep loss in value versus BTC). Now the Ethereum daily transaction fee is greater than that of BTC.

We should not stop with the Lightning Network. More actions are needed to address the two main concerns - scalability and privacy.

[coin-investor]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Not yet, we can win some victory in our fight against centralization but that doesn't mean we already won, I will be using won if we have a massive adoption and 90% of countries and companies are using cryptocurrency and the price is what we desired and market will be controlled by the majority, right now only whales are controlling the market, this is the reason why we experienced unstable market condition

[LesterD]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Not yet, we can win some victory in our fight against centralization but that doesn't mean we already won, I will be using won if we have a massive adoption and 90% of countries and companies are using cryptocurrency and the price is what we desired and market will be controlled by the majority, right now only whales are controlling the market, this is the reason why we experienced unstable market condition

Winning is still in progress, we can see the legalization of different countries is happening one by one, its the proof that bitcoin is starting to be appreciated.

[TheGreatPython]

Some people are so impatient. Must you compare Bitcoin to gold and other currencies? Why not just compare it with other cryptocurrencies?? There isn't much adoption for Bitcoin yet you people are comparing it with gold that have been around for centuries. I just wonder how some people sees this Bitcoin of a thing.

Bitcoin is good, but that doesn't mean that it will become everything. It's just a digital asset and won't he anything more or less than that. As for those that feels that Bitcoin is going to be the currency of the future, well, in case you don't know, other cryptocurrencies has the same vision to be the currency of the world.. But the truth is that none of them will become that. When the time comes that the world will have to make use of cryptocurrency, it's still going to be the same currencies that we are using now transformed to its crypto form. Every country will have theirs and it will be regulated by the government. There can't be 100% freedom as long the word government still exists.

[Genemind]

Bitcoin hasn't reached a complete success yet. Yes, it's a good investment which is comparable to gold but we all know that it could do more than an investment. Bitcoin success is when bigger companies and different merchants would accept and adopt it as a digital currency. Bitcoin as a mode of payment would bring a good impact on the market situation.

[tsaroz]

https://youtu.be/UF528l8fqKk

Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?

Bitcoin has already won. It started from nowhere in 2009 and in a decade, crypto is topic the whole world is talking about.. It is being made an agenda on the meeting of world leaders and it has led to a revolution in tech sector. Blockchain is now a dedicated field of study and it's prime credit goes to bitcoin.

[Shasha80]

Yeah you can say that with big smile. Bitcoin has won, because bitcoin has become a valuable asset in human history. Imagine
gold, which has been an investment asset for thousands of years, can be beaten in terms of price by the new bitcoin
just a few years. Don't forget bitcoin also created many opportunities to make profits on the internet. And bitcoin has
overcome the problem of poverty globally, even though it's not optimal. But many new rich people printed by bitcoin.
Even the proof that bitcoin has won are many , example inspirational stories spread on the internet many people can buy a car,
house, jewelry, motorcycle, and other valuables things with Bitcoin. Blockchain  technology changing human lives become better.
Thanks to Bitcoin, I love u Bitcoin.