Bitcoin: The Social Phenomenon

[tbterryboy]

Yep, what people loves about Bitcoin is the freedom it gives. If there is no freedom in making use of Bitcoin most of the people here might not be interested in it. Imagine that Bitcoin is an asset that can be controlled by the government at anytime , there wouldn't be any need for it.

But, the fact that it cannot be controlled by anyone except the level of demand and supply gives a lot of people hope in it. And sure I know that there are lots of people who are against Bitcoin, so many people hate it and they would do anything to stop it, unfortunately for them Bitcoin is a decentralized currency and there is no control unit that you can simply shut down to affect everything, impossible! This is also part of the reason why the government cannot stop Decentralized exchanges. If they ban Bitcoin, anyone that wants to make use of it will still find a way to do so.

[Marystpatrick]

Making a tiny allocation toward bitcoin doesn’t absolve investors of the need to do their homework before buying.

Users should learn more about digital assets, as well as the underlying blockchain technology first.

“Don’t consider investing unless you understand the technology,”. “Otherwise, you’re not investing; you’re spending.

[witcher_sense]

I don't know what was originally in Satoshi's head but now this idea has developed into a successful alternative to fiat.

He wanted to build the "peer-to-peer electronic cash system" : the whitepaper of bitcoin says it clearly. The system that is similar to physical cash, but with the ability of being transfered via Internet. Although these idea and realizaton were very ingenious, the creator of it could still underestimate the significance of his invention, it was impossible to predict that bitcoin could become the replacement of current monetary system and would start changing people's minds on how the system should really work.

I would say, it is not an alternative to fiat, but perfectly functioning system that is intended to replace it completely, the system that shows all the drawbacks of current monetary system and gives a solution at the same time.

[alizarosa3123]

I enjoyed the content when all was claimed. Its content and elegance make it relatable and alluring. This is because it could be, I think sometimes two types of focus are radicalized.

1. Dislikes Everyone agrees that Bitcoin is vital. However, if prices fall higher than this and these individuals will not say that it is a budget pyramid that will soon crash.

2. Few people can really accept that Bitcoin Cash or Bitcoin SV is the real person and I think they save the choice in the current conclusion despite the fact that these forks have endangered Bitcoin.

3. I do not know, yet Bitcoin is probably used by a select social subject, although quite a few people from different rallies use it, obviously.

[bearexin]

Bitcoin is the first of its kind. Seriously, it’s going to be a tough battle for any other cryptocurrency to conquer Bitcoin and I don’t even see that happening, not anytime soon. Other cryptocurrencies are dying off, but Bitcoin retains its position as the number one and it keeps on growing and doesn’t seem to give up.

Bitcoin has faced a lot of challenges more than every other cryptocurrency has ever faced. People (the haters) neglect other cryptocurrencies and call Bitcoin the scam, and lots of them has tried anything possible just to bring down Bitcoin. Very funny. But despite everything they have tried, Bitcoin still keeps growing.

[verita1]

Dear, nullius.

"I have experience living without a bank account. It’s very difficult: You can’t use money normally, and you are shut out of many opportunities. That can impoverish you, and it can keep you in poverty. Bitcoin takes away the power of unaccountable corporations to shut down people’s lives on a whim, just because they don’t like them."

I love this thought towards Bitcoin because it reflects all my needs. Although I have been able to open bank accounts in my country, I cannot obtain credit because I have no credit experience and with Bitcoin, I can access the possibilities that suit me.

[online73]

These are exactly the kind of articles that need to be placed on the main pages of the best publications in the world - bravo! I will definitely give it to all my friends to read. Of course, bitcoin is a social phenomenon, I subscribe to your every word. I can only add that I feel much calmer with bitcoin than with this entire banking system, and in connection with the latest global pandemic, we are still trying to impose on us not legal withdrawals from our accounts. I don’t mind losing some of my savings if I knew for sure that this would go to treat people. But I'm sure that part of the money is stolen by bank officials. God bless the one who invented bitcoin - my confidence in the future is precisely due to bitcoin.

[KnightElite]

Bitcoin is the first of its kind. Seriously, it’s going to be a tough battle for any other cryptocurrency to conquer Bitcoin and I don’t even see that happening, not anytime soon. Other cryptocurrencies are dying off, but Bitcoin retains its position as the number one and it keeps on growing and doesn’t seem to give up.

Bitcoin has faced a lot of challenges more than every other cryptocurrency has ever faced. People (the haters) neglect other cryptocurrencies and call Bitcoin the scam, and lots of them has tried anything possible just to bring down Bitcoin. Very funny. But despite everything they have tried, Bitcoin still keeps growing.

The domination of bitcoin is too strong that there will be no other cryptocurrencies that can match it especially in terms of popularity and average number of usage. The bear market is already finished and there is now a signs that we are again entering the bullish market. Other cryptocurrencies are still not giving signs of recovery. Investors and traders are now focusing to the bitcoin because of the unusual movement last day where it rally amd achieve the price $9000 per each.

[El duderino_]

Nice topic, nice text, will merit when replenished ....

It’s easy atm, people in btc keeps increasing, interest and knowledge getting wider, still many in the area for a quick buck... they will break at some point or get the long term perspective over time.... (have seen it happen with some friends, as the breaking point as the becoming of a long term hodler)

—-> price will be driven up, as more getting in.... it’s a true social “phenomenon”, btc helped me out true payments that would have been very difficult through cash or through bank transfers, glad I had a medium of exchange as BTC for the last years.

Also as you said we all have payed each other in BTC and no one of us need to be told what to do with the received BTC.

[Wind_FURY]

Nice topic, nice text, will merit when replenished ....

It’s easy atm, people in btc keeps increasing, interest and knowledge getting wider, still many in the area for a quick buck... they will break at some point or get the long term perspective over time.... (have seen it happen with some friends, as the breaking point as the becoming of a long term hodler)

Encourage them. Making a quick buck is a good introduction to Bitcoin in my opinion because then we can teach them how to store their coins, which software to use, then someday, convince them to buy and HODL.

[Shasha80]

If you look at Bitcoin's performance this year is extraordinary, it will make Bitcoin's popularity increase, it's no wonder
if Bitcoin is said to be the social phenomenon. And a lot of people have started adopting Bitcoin, this is because there
are so many benefits that we can get from Bitcoin, from freedom to manage our own finances. Since no one can control
Bitcoin, this is something banks don't have. Another advantage of Bitcoin, volatile price can be used for trading. Because
we can make profit relatively quickly with the volatile Bitcoin price.

[El duderino_]

The key reason people love Bitcoin is the fact that it's decentralized. But is it really decentralized? Well, Bitcoin may not be as decentralized as it's often assumed, according to this article. And if this is the case, it means it can somehow be controlled. Take a look.

https://news.bitcoin.com/cornell-researchers-bitcoin-not-as-decentralized-as-assumed/

If it is or not is decentralized is been discussed many many times....

Outcome= most decentralized store of value .... no one can say what someone must do with there coins....

If one wanna believe that it’s centralized, then don’t enter and don’t be bothered

[Wind_FURY]

The key reason people love Bitcoin is the fact that it's decentralized. But is it really decentralized? Well, Bitcoin may not be as decentralized as it's often assumed, according to this article. And if this is the case, it means it can somehow be controlled. Take a look.

https://news.bitcoin.com/cornell-researchers-bitcoin-not-as-decentralized-as-assumed/

Bitcoin is decentralized. It's like BitTorrent, the U.S. or any state cannot, stop it, control it, and order a seize and desist on it.

Napster was centralized, the Liberty Reserve was centralized, not Bitcoin. OK?

[DooMAD]

The key reason people love Bitcoin is the fact that it's decentralized. But is it really decentralized? Well, Bitcoin may not be as decentralized as it's often assumed, according to this article. And if this is the case, it means it can somehow be controlled.

Here's a different link for anyone who doesn't want to give that other site the traffic:  https://www.bitcoininsider.org/article/14340/cornell-researchers-bitcoin-not-decentralized-assumed

The simple matter is, the distribution of hashpower is determined by market forces.  If the number of people mining was centrally planned and controlled, that's undoubtedly less decentralised than just letting the ecosystem evolve naturally.

[Kez1817]

Social phenomena (singular: social phenomenon) are individual and external occurrences within a society that influence one's behaviors, opinions, etc.

That is Bitcoin! Bitcoin was considered as Social Phenomenon because it was already influenced and significantly affect the behaviors and opinions of million of people all over the world that now are using, investing and keep on patronizing bitcoin. The impact of bitcoin on people is enormous because it changes the lives, habits, lifestyle and thinking of people when it comes to valuing investment and whatever bitcoin value that you have.

Eventually, Bitcoin will become a historical event that can be passed down from generation to generation due to having a significant and history-changing impact.