What do you think of the current status of Bitcoin?

[pakhitheboss]

Hi, all!

I just wanted to ask what you think we as a community achieved in 2019.

For me every year and every day has been amazing and awesome!!

Although, there are many issues with Bitcoin but considering what it was in 2016 what it is now? Bitcoin is known! Why?

If I only think about the Fiat value of Bitcoin now and what it was 4 years back there is a huge upward swing.
If I think about its adoption then and now there are so many websites accepting Bitcoin.
If I think about Is Bitcoin a Ponzi Scheme there are so many articles arguing Bitcoin legitimacy to those MLM schemes.
If I think about how difficult was to understand this concept, there are amazing articles on the Internet to help you.

I know there are so many reasons but, I cannot recall all of those.

Write it down below if I have missed something.

[djcaoile1205]

There re several countries to be the first who legalize BTC. For examples, Ukraine 

[momchilandonov]

There re several countries to be the first who legalize BTC. For examples, Ukraine 

And hopefully there will be more counties like Ukraine in 2020. Anyways, even this question is too controversial. 

[squatter]

I just wanted to ask what you think we as a community achieved in 2019.

It's been another year of constant uptime for the Bitcoin network -- compare that to any bank. That's a huge achievement in and of itself.

In terms of awareness, 89% of American adults have now heard of Bitcoin, according to a survey by The Harris Poll. The survey also revealed that 9% of the population owns some bitcoin.

[seoincorporation]

When you talk about the current status of Bitcoin you can see it from two different points of view:

The economic status: Bitcoin still high nowadays, and the current price brings big speculation, It is hard to predict if it will go up or down. But right now i would say it has a nice price.

The technology status: Right now Bitcoin is in version 0.19.0.1, se we have seen some nice steps in the bitcoin coding this year. So, this side is looking good too.

[figmentofmyass]

Hi, all!

I just wanted to ask what you think we as a community achieved in 2019.

schnorr signatures are finally on the way! sipa published draft BIPs specifying how taproot and schnorr can be implemented in bitcoin:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-May/016914.html

lightning network adoption is also chugging along nicely. as of right now, there are more than 10k nodes, 35k payment channels, and a total of 850 BTC capacity across the network. https://twitter.com/LNstats/status/1204193806758948869

[error08]

There re several countries to be the first who legalize BTC. For examples, Ukraine 

And hopefully there will be more counties like Ukraine in 2020. Anyways, even this question is too controversial. 

Ukraine’s Ministry working to legalize bitcoin and other cryptocurrencies and also provide tax code which may be ready by the end of the year.
Most countries around the world divided into 4 conditions;
- cryptocurrencies are banned and forbidden to use it.
- cryptocurrencies are not banned in the country, have no official status but citizens still can trade it.
- cryptocurrencies are not banned in the country, have an official status and regulated as commodities or assets and people must pay taxes for every profit they earn.
- cryptocurrencies are legal to use as a form of money such as in Japan.

We can expect more people aware of and adopt bitcoin without govs regulation, but it's something that has to happen sooner or later, then taxes will follow behind it.

[btc_angela]

Also in terms of price, bitcoin has achieved something big already this 2019.

https://coinmarketcap.com/historical/20190106/

from $4k to the current price, that's almost 50% jump already. Of course we would love to see it getting to 5 digit mark, but we will have to wait.

[Text]

The current status of Bitcoin is good as there are still believers and supports the development even though some investors of 2017 already left out the cause of big loss from their investment.
Bitcoin will achieve more in the next few years aside from being recognized and adopted in some countries. It may not be fully legal but the government is open and not strict in using crypto.

[AbuBhakar]

The current status is much better than last year. We see that even All time high reached many already believes in BTC since many still don't know it exist. Bitcoin still have lots of future ahead on it, for now let's just appreciate that it still able to pump or increase even some countries restricted the use of it.

[diahsw]

bitcoin status in my opinion there is no problem, what should be asked, if the price status, from the beginning many have explained, for the status of bitcoin prices are fluctuating .. so up and down it's normal .. !!

[Yamifoud]

We are about to see the continuous growth of the Bitcoin network globally. If this huge change and market adoption and therefore, we can expect that sooner or later this mode of payment will be more useful than of fiat.

We have already this kind of awareness, in fact, it continues to spread but the problem is some people think to be just a scam as what some news says. It affects the growth and stability of Bitcoin but somehow, it couldn't be a reason for the stoappage of its adoption. By little to little, the crypto market will dominate over fiat and may help to change negative thoughts turn into positive.

[jossiel]

The unconfirmed transactions became lower this year compare to last few years. I remember looking at the numbers of those unconfirmed txs was disappointing but the network has upgraded a lot and lessened it.

2,506 at the moment.

https://www.blockchain.com/explorer?view=btc_unconfirmed

[maxreish]

Not only websites that are using bitcoin but also Merchants and some institutions who are already joined this kind of advanced technology.

On the other hand, while not everyone are convinced about bitcoin's capability, there are still more people who are in need of bitcoin now. The convenience and the investment category helps bitcoin enthusiast to grow that is why other people are also encourage to adopt bitcoin.

[Sadlife]

Over the past years and comparing to this current year. The world is slowly adopting it before it was even so hard to use your bitcoins for goods and services but now you can use your BTC to all sorts of things, before it was only used in darkwebs now crypto currency has pretty much access to anything including cashing out to fiat.

[Ayiranorea]

I just wanted to ask what you think we as a community achieved in 2019.

It's been another year of constant uptime for the Bitcoin network -- compare that to any bank. That's a huge achievement in and of itself.

In terms of awareness, 89% of American adults have now heard of Bitcoin, according to a survey by The Harris Poll. The survey also revealed that 9% of the population owns some bitcoin.

This is a big step forward that shows the progress of bitcoin with time. Though US is portrayed a grown country it too has got poor people and people who really suffer poverty. Among them 85% of the population knowing about bitcoin is really a big thing and this will happen with more other countries. 9% owning bitcoin is almost 33million people owning bitcoin. Big growth... 

[crossabdd]

if you remember how difficult a large fund transaction uses many rules that were carried out by the government and banks in the past and today. then there is bitcoin which is a transaction solution with full rights in your hands without rules and without a long time. one click, and arrive at the same time.

[The Sceptical Chymist]

Still a long way to go before coming into mainstream payment system.

Yep, but I have doubts as to whether that's actually going to happen.  Ever.  As it stands, people are very happy using their smartphones, debit cards, or cash to pay for things--and those payment methods have worked just fine for a very long time.  It would take a crisis of unimaginable magnitude for bitcoin to become the go-to currency for daily spending.  As for me, I'm not going to hold my breath and I'm fine with bitcoin being an investment.

However, bitcoin really is a good currency for people who want a measure of privacy when buying things online.  You can't do that with paper money.  And bitcoin has achieved some adoption with web merchants, so that's progress.

Also in terms of price, bitcoin has achieved something big already this 2019.

That's definitely true.  Bitcoin is certainly down from the 2019 high, but it's still much higher than it was at the beginning of the year.  I think people tend to forget that.

[TitanGEL]

The price of bitcoin swing down again but it is okay as long as the price will not breakdown because there will be role reversal where support will become resistance and the price will gradually decline again. It is still consolidating but if the 200 MA strike down then we will see a good movement. If the 200 MA will become support then we will see how the bearish will be beaten by bullish.

[yulionoo]

yes you are right op bitcoin has experienced a lot of progress since 2016. bitcoin has progressed in many ways ranging from growing users, adoption, trading volume and prices. now bitcoin has become the main and favorite coin in cryptocurrency.
although at the moment the price of bitcoin is decreasing I'm sure bitcoin can pump again we just need to wait and be patient.