Here is why btc will die as a crypto

[Fortify]

The people who are really serious about keeping bitcoin as an asset are not holding microscopic amounts and will thousands, tens of thousands or even millions at a time and making substantial savings. In the end, Bitcoin can be much more efficient at moving money across borders and avoiding the grasping reach of certain governments who have quickly seized private funds in the past. In comparison to actual bank fees they can also make savings there and may even avoid random freezes due to financial source of funds checks which regulators can impose.

[Inkdatar]

Bitcoin has dead in many ways as others claims but look at the current conditions of bitcoin in the market. It is continues to be more popular and it has a massive adoptions. Why using Bitcoin for sending out a small amount?If fees the issues you may use other option. Also, a lot of people appreciate to use of bitcoin because of it's freedom than banks.

[davinchi]

I get that people hate the transaction times and costs, for smaller amount of money that is actually something very very bad for us, even if you could send 10 million dollars for 10 dollars which is cheaper than anywhere else, you are still spending like 5 dollars for 50 dollars as well and that part is worse. Which is why I think it is quite important that we figure out a way to make it cheaper, if we continue to make it more expensive this way, if we show more and more interest and get more people involved and move bitcoin around more, this is only going to get slower and more expensive.

Lightning network, proof of stake, or whatever they can do, bitcoin needs to move to a direction where it is instant and almost free. If we can do that technologically, that means we are going to have bitcoin over $20k instantly.

[poodle63]

Transaction fee in bitcoin based on the transaction size not how much btc you send. There's many factors involved to determine how big the transaction size is it's true that bitcoin favour people who send big money altogether but $1.3 is not a humongous fee.

Try paypal, sending money to your buddy gonna cost you well above $2.5. people who have peanuts of a money usually uses altcoins not bitcoin anyway.

[pilosopotasyo]

You've just send it at the wrong time when Bitcoin transactions is at it's highest, I just made a transaction 3 times today with a small fee and it all went in just ten minutes, Bitcoin will not die because of this issue alone, it's the first peer to peer in anonymity and the one coin that started a  no third party transaction.

[jaysabi]

Bitcoin is not about sending money fast or cheap, but about sending it freely: Immutability, censorship-resistance, and permissionless.

All "fast" blockchains are just centralized and slower than visa. If you don't care about decentralization and just want to make fast transfers, you should use Visa.

A lot of the early use-case for bitcoin was absolutely that it was fast and cheap. I remember because I was constantly arguing with those people that bitcoin was neither faster nor cheaper than centralized transfer methods. The only "improvement," as you pointed out, is the immutability of transactions. But I put that in quotes because I don't really consider that to be an improvement. Bottom line is that Bitcoin is pretty trash as a currency, I'm not decided on it's future as a long-term store of value but it's certainly a lot brighter there than as a currency.

The problem lies only with the foundation of Bitcoin, since there is no one to manage it, so it cannot be upgraded. But also because no one is managing it, it is the type of asset being held by many large financial funds. In general, it's quite similar to gold, and it makes sense to be expensive to exchange.
So don't complain about BTC, there is a reason for whatever happens. We should pay attention to the value of Bitcoin instead of criticizing its technology.

It's decentralized, but there is certainly somewhat of a centralized group trying to manage it (somewhat). Remember the consensus wars a few years ago when they wanted to change the code to increase the block size? It tore the community apart and spawned a bunch of competing bitcoin chains. There were the coders and the "leaders" who came down on both sides, trying to convince everyone what was needed for bitcoin to continue to grow, or warning what would happen if their particular vision wasn't followed.  Bitcoin can be changed through consensus.  It can be "upgraded" through consensus.  Not trying to improve it is pretty stupid when a clear weakness is identified.  Systems that don't change to accommodate market desires invariably die.

[FlightyPouch]

Many people are always telling btc will die. But look btc is still standing strong. Everything has its end. But I think btc will stay in the crypto world for a long time.

For the years I am here, I am not new to reading these kinds of topics or threads. Scam or Ponzi, they can call whatever they wanted to, they didn't know they are wrong. With a strong community that would take advantage of every drop or dump that would happen, I don't think it would even die. The value might fall but it will just come right back up.

If we do try to count on the threads that been saying about bitcoin is going to die or doesnt really last then those negative thinkers had probably changed up their mind or sentiments towards bitcoin specially that it had proven out for a decade already when it comes to market recovery on a certain period of time.It might not be guaranteed to last forever but we can presume that it will surely stay.

Let those people do think and say all of the things they do want because later on they would realize that they are believing on the wrong thing.

Adoption is on the move and its hard not to believe that it would really be progressing out even more on future years to come thats why when we do talk about for it to die then its hard to believe on and let adoption grow and strong all over on upcoming years.

Hope I can upvote this. I know that it is been a long time since we are seeing this kind of price movement and the other thing is that as you've said, adoption is on the move and we will be seeing a lot of them next year, I hope so. Instead of thinking about how will it die, we people should brace ourselves to what may happen next year.

[jaysabi]

Many people are always telling btc will die. But look btc is still standing strong. Everything has its end. But I think btc will stay in the crypto world for a long time.

For the years I am here, I am not new to reading these kinds of topics or threads. Scam or Ponzi, they can call whatever they wanted to, they didn't know they are wrong. With a strong community that would take advantage of every drop or dump that would happen, I don't think it would even die. The value might fall but it will just come right back up.

If we do try to count on the threads that been saying about bitcoin is going to die or doesnt really last then those negative thinkers had probably changed up their mind or sentiments towards bitcoin specially that it had proven out for a decade already when it comes to market recovery on a certain period of time.It might not be guaranteed to last forever but we can presume that it will surely stay.

Let those people do think and say all of the things they do want because later on they would realize that they are believing on the wrong thing.

Adoption is on the move and its hard not to believe that it would really be progressing out even more on future years to come thats why when we do talk about for it to die then its hard to believe on and let adoption grow and strong all over on upcoming years.

Hope I can upvote this. I know that it is been a long time since we are seeing this kind of price movement and the other thing is that as you've said, adoption is on the move and we will be seeing a lot of them next year, I hope so. Instead of thinking about how will it die, we people should brace ourselves to what may happen next year.

It is the nature of large companies, institutions, and technologies to be upended and replaced.  Remember Sears, the now-failed retail giant?  It may shock you to realize just how big that company used to be.  Back when they came up with the revolutionary innovation of ordering through a catalog through the mail, they accounted for $100m in sales at a time when the entire US GDP was only $36.5 billion (the year was 1914).  A company that large and important, you'd have though it was unsinkable and would last forever (everyone at the time certainly thought so).  If you go back and look at the list of Fortune 500 companies from 1955 compared to 60 years later in 2015, only 12% of those companies still existed (https://www.aei.org/carpe-diem/fortune-500-firms-in-1955-vs-2015-only-12-remain-thanks-to-the-creative-destruction-that-fuels-economic-growth/).  

Will Amazon last forever?  The odds are against it.  Will bitcoin last forever?  The odds are against it.

[Ridwan Fauzi]

Well aren't we all aware of it already?
Most of us know that BTC transaction isn't cheap anymore and let's not forget about the delay or confirmation time.
Those are the one of the biggest weakness or disadvantage of Bitcoin to other crypto.
And even though BTC have a high transaction fee and slow confirmation it is still one of the greatest or still the King so I don't think that it would really die.

There will many possibilities to change this perception, like lightning network I think it is a good solution and also segwet address can help to reduce the fee and make transaction become fast, have tried them? I suggest you have to try it. Also, maybe it has alluded to before but I'll mention it, the current high fee for bitcoin transaction is affected by bitcoin price high, I'll be weird if bitcoin fee transaction high but its price does not increase. And you can see now, although its fee is getting high but does any investor abandon it? I guess no because they have got a profit or the fee is still worth paying because they get more profit than they pay the fee. And I think this will continue when the price of bitcoin is getting higher than it is now.

[smyslov]

This question has been going on for the last ten years, we have the Bitcoin obituary, https://99bitcoins.com/bitcoin-obituaries/ where it records the times that people were considered Bitcoin  dead, so far it has a record of 341 times it continue to grow, those who says that Bitcoin is dead should just sell their coin and never acquire anymore.

[South Park]

Well aren't we all aware of it already?
Most of us know that BTC transaction isn't cheap anymore and let's not forget about the delay or confirmation time.
Those are the one of the biggest weakness or disadvantage of Bitcoin to other crypto.
And even though BTC have a high transaction fee and slow confirmation it is still one of the greatest or still the King so I don't think that it would really die.

The OP is just nitpicking, if you care so much about the fees then you need to be smart and stop caring about the speed of the confirmation, send your transaction with the lowest possible fee and just wait until the mempool is empty to get a cheap confirmation, it could take days for the confirmation but if you care so much about the fees then this is a way to lower them, this is especially important when you are consolidating your coins as you do not want to pay a huge amount for the privilege of sending your coins to yourself.

[Josefjix]

The miners who confirmed the transaction will share the transaction fee of the day among the people who partook in the main pool. Is the transaction fee burnt? I believe not, it is a bug that can be fixed even Ethereum had higher transaction fees.  I don't honestly support the idea of this killing Bitcoin to the minimal level.

[konflikkastil]

I don't not believe this can happen anytime soon. Because BTC has become a major key player in the world of digital
currencies: cryptocurrenciess market, having dominant the market for over a decade now. It was first initiated to serve a a free and transaction where things are transparent. And lots of other coin has emerged since Bitcoin inception and they are really doing well. Bitcoin could die as crypto and probably be confirmed as the generalized world currency in the coming years.

[verita1]

No. Bitcoin is more alive than ever. I remember everything that I went through at the beginning of the pandemic and how thanks to Bitcoin I was able to overcome many obstacles.
Now Bitcoin is proving that it is a great invention that can be attached to any individual and we should not underestimate it.
Maybe with the most recent announcements that have been important around it. Someone can develop a product that manages to fix the transaction time and fees that are uncomfortable for some.

[AjithBtc]

With living things death is inevitable, but for the non living things the same won't apply. The demand to supply is the one keeps the market growing. If we examine, now the human life is limited to not more than 80. Just think of gold and other valuables. The demand keeps them alive for thousands of years. Those are days of rare metals getting value, now everything has got integrated with technology. This makes bitcoin last for long.

[fullhdpixel]

Bitcoin has dead in many ways as others claims but look at the current conditions of bitcoin in the market. It is continues to be more popular and it has a massive adoptions. Why using Bitcoin for sending out a small amount?If fees the issues you may use other option. Also, a lot of people appreciate to use of bitcoin because of it's freedom than banks.

That's true and despite so many altcoins being made which work cheaper and faster but still it is bitcoin that is going and moving strongly while altcoins come and die and that I believe is because bitcoin is seen as the parent of all these coins and none can match the credibility and robust system that bitcoin is based on.

Lightning network, proof of stake, or whatever they can do, bitcoin needs to move to a direction where it is instant and almost free. If we can do that technologically, that means we are going to have bitcoin over $20k instantly.

I guess in future Bitcoin transactions will be made by bigger traders while small transactions will be made in low cost transaction based coins like Tron and Ripple and there is technically no way to bring the cost of BTC transactions down.

[South Park]

With living things death is inevitable, but for the non living things the same won't apply. The demand to supply is the one keeps the market growing. If we examine, now the human life is limited to not more than 80. Just think of gold and other valuables. The demand keeps them alive for thousands of years. Those are days of rare metals getting value, now everything has got integrated with technology. This makes bitcoin last for long.

For the most part that applies to things as well, gold is just a monumental exception, it is incredibly that the gold that was used on ancient Greece or Egypt is still been around today but that is because of its specific properties that the ancient civilizations recognized and why it was until the invention of bitcoin the best from of money available, this is why despite bitcoin being so young I see the potential for the technology to be around at least a couple of hundreds of years.

[Sithara007]

Fee is a big problem for the cryptocurrency users and the rise in exchange rates is not doing any favor either. Even if the transaction fee remains constant in terms of BTC, the fiat equivalent is constantly going up. For example, the median transaction fee is around BTC0.0002 per transaction. Two months back, this amounted to around $2. But with the increase in prices, the fee now amounts to $5, although in terms of BTC it hasn't increased.

[Sapphire915]

This transaction fees are much higher. However, I believe that this fees problem can be fixed... and besides, there are lots of good and reputable trading platforms or largest and well-known exchanges that we can choose from upon doing trading. This problem is quite easy to solved and will not be the reason to stop Bitcoins in Crypto world. It would never happen.

[jaysabi]

I think the expense is still too low in contrast with the fiat. Consider you're sending money with fiat you'll pay profoundly and more than this.
For me, this charge is yet favourable for us.
As of late, I sent $5 to one of my companions by utilizing the PayPal services, and I pay $2 expense.
He lives abroad, and I think utilizing the PayPal services was one of the stupid things I ever did

Cross border payments is one of the legitimate cases where I view crypto to be superior to the alternatives. It's cheaper to send money around the world using bitcoin than wire or PayPal (in most cases, although there are ways to send PayPal without fees).