Has Bitcoin FAILED?

[fishbonez11]

Has Bitcoin failed?

NO.

Looking at how far bitcoin have achieved, there us no denying that it is one of the most successful project ever made. Bitcoin community is ever increasing and this only means that there is a bright future ahead. As long as there is a strong community behind bitcoin, it will continue to succeed. Never seen anything like this that people have so much interest of. Bitcoin is bitcoin now because people believed that we can have a decentralised system where everyone can have the full control of their own fund.

[rat03gopoh]

Bitcoin is getting further and further away from the guy in the street, and is now some rich hedgefunds 1% elite plaything.

The guys in the street already become elite people because they've put their trust in them from the start and may have been among the hedge fund players. But their role has also delivered fantastic bitcoin prices.

Bitcoin has never left the small circle, the fact is we can still buy bitcoin for as little as $1.

[CryptocurencyKing]

As a bitcoin and crypto enthusiast, i don't believe bitcoin has failed or even see the possibility of bitcoin failing.
the devaluation of currencies often comes at a point were such currency isn't able to command demand for the least commodity available as a whole. With the worth of bitcoin, it is the highest  currency so far though, its of the virtual form but then, it only presents potentials which is why governmental bodies tends to exploit or fight against it. The exponential difficulty presented to miners after mining each block is just another genius strategy to keep up with the value and not just to hand the responsibility to any street guy as this could lead to the very devaluation we wish to avoid.

[finaleshot2016]

Bitcoin has come into many places and already dominating the market so I guess that Bitcoin does not fail. If you check the chart right now, you'll know that bitcoin is still growing and keep resisting to have a new ATH. And what are you saying that average people can afford to buy it? Bitcoin is very expensive right now as it grows at a low price but you can even buy it on decimals and make it grow.

Some of the known elites in the world are now appreciating the potential of bitcoin and adopting the use of it, so it's a huge success for bitcoin this year 2020.

[mezzaluna]

We have all heard the story of the pizza guy getting paid in BTC, yet some 10 years after Bitcoin was made, hardly any shops accept BTC in the great scheme of things.


It started off as a project that would enable the regular guy with a modest pc to mine BTC, now you need a huge farm to be able to mine effectively.


Bitcoin is getting further and further away from the guy in the street, and is now some rich hedgefunds 1% elite plaything.


What is the future of Bitcoin in your view, will it render itself useless and be taken over/killed by a better suited cryptoproject, or are we stuck with it??

The third sentence is not entirely true since some users within this Industry came from small beginning in which they turned into their own skills to earn as much as possible within the Cryptocurrency Industry and not just Bitcoin. Nobody really knew Bitcoin's goal but if someone knew what is Bitcoin's original goal, they should be proud since it is still useful after the years have gone by and the increase in number of users is still greatly seen.

[sort_cirkit]

PayPal's total active user accounts is 361 million from 3rd quarter 2020. PayPal's Founded: December 1998.
Coinbase and Blockchain.com have already created almost 100 million Bitcoin wallets alone. Bitcoin is a new currency that was created in 2009.

Search for the difference and keep wondering if Bitcoin is the winner or not?

[Spone7]

No definitely not. As the global is facing new strain everyone is panic and this is what happening in every market. And the psycology is the biggest thing than any technicals.

[adzino]

Why exactly do you think it has failed? Just because you now need better equipment to mine? Lol, I don't remember reading anywhere that bitcoin was made to be able to "mine it easily". Bitcoin was made to be used as a currency without having any third parties involved. It was made so that only YOU own the coins. Not the banks or the government.
And no. Bitcoin hasn't become a "elite" class or rich people currency. You can still fractions of bitcoin. And if you can't mine, then help by promoting it in a positive way.

[kentrolla]

Not at all bitcoin gave several opportunities to invest but many ignored it because of fear they will lose money, whenever the price goes down people say bitcoin failed again. I would say people are opportunist they always want to see BTC pump.

BTCs domination would say everyone wheather it has failed or not and I've already been the fan of BTC because it gives opportunity again and again.

[Battle1doom]

Bitcoin is getting further and further away from the guy in the street, and is now some rich hedgefunds 1% elite plaything.

The guys in the street already become elite people because they've put their trust in them from the start and may have been among the hedge fund players. But their role has also delivered fantastic bitcoin prices.

Bitcoin has never left the small circle, the fact is we can still buy bitcoin for as little as $1.

And how much would it cost in fees to buy bitcoin for $1, it would cost you a lot more to just buy one dollar worth of bitcoin, thats part of the problem.

[MCobian]

Don't because in your environment no one owns and uses Bitcoin then you assume that Bitcoin failed. And also because many who
own Bitcoin are rich people, it makes you think that Bitcoin failed. All of your thoughts are wrong, because the number of Bitcoin
users in several countries continues to increase, Especially in this year after Bitcoin managed to reach new all-time high prices,
the number of people holding Bitcoin has increased.

Even my friends and family are now increasingly interested in investing in Bitcoin. If you do your research properly, I think the number of
merchants who accept Bitcoin payments is also increasing. My advice is to give Bitcoin time to develop, because Bitcoin is a new technology
that still needs time to develop.

[dunfida]

Bitcoin is getting further and further away from the guy in the street, and is now some rich hedgefunds 1% elite plaything.

The guys in the street already become elite people because they've put their trust in them from the start and may have been among the hedge fund players. But their role has also delivered fantastic bitcoin prices.

Bitcoin has never left the small circle, the fact is we can still buy bitcoin for as little as $1.

And how much would it cost in fees to buy bitcoin for $1, it would cost you a lot more to just buy one dollar worth of bitcoin, thats part of the problem.

Not much of a problem yet there would be no person would just putting out 1 bucks in terms of investment and also fees arent that static for you to tell that
fees are way too high yet making out transfers will really be just a cent in fees when the network  isnt really clogged.
Lots of sentiments that do talk about Bitcoin had failed or its already dead but here we are now, we are reaching new heights which does
indicates that adoption is still on the move. Failing word isnt something that you can apply to Bitcoin at the moment.

[kawetsriyanto]

Big NO. Bitcoin has been growing well. It is already adopted and held by many people around the world. Even Satoshi disappeared, Bitcoin continues to grow and survive. Till now, no altcoins can overtake it, it proves that Bitcoin is still the best one. If Bitcoin is failed, it cannot survive well as today. And it also cannot be the king of all crypto coins.

[Astvile]

What is the future of Bitcoin in your view

Bitcoin hasn't failed in fact bitcoin became more powerful throughout its 10-year long life and the future only looks bright for bitcoin. Bitcoin is still developing, more and more people and companies are adopting bitcoin plus bitcoin have a lot of usages now compared to its early days.

will it render itself useless and be taken over/killed by a better suited cryptoproject, or are we stuck with it??

We can't say that bitcoin will still reign king in the cryptocurrency market in the future or be overpowered and replaced by a new stronger cryptocurrency. Technology is developing and so as projects, there is a chance that a new crypto project will come out better than bitcoin and replace its spot, and there's a chance that bitcoin will still be number 1. But surely bitcoin will ride along with these developments.

[panganib999]

What is the future of Bitcoin in your view

Bitcoin hasn't failed in fact bitcoin became more powerful throughout its 10-year long life and the future only looks bright for bitcoin. Bitcoin is still developing, more and more people and companies are adopting bitcoin plus bitcoin have a lot of usages now compared to its early days.

will it render itself useless and be taken over/killed by a better suited cryptoproject, or are we stuck with it??

We can't say that bitcoin will still reign king in the cryptocurrency market in the future or be overpowered and replaced by a new stronger cryptocurrency. Technology is developing and so as projects, there is a chance that a new crypto project will come out better than bitcoin and replace its spot, and there's a chance that bitcoin will still be number 1. But surely bitcoin will ride along with these developments.

I don't see any failure of bitcoin. For me, it is suitable to be called as progress. Bacl in 2010 when bitcoin started it doesn't have any value or worth because of the idea of risk. Bitcoin have never achieve any way back then. It doesn't have to be success when it comes to first but I think it will take times to progress. But today, as you can see bitcoin became the top vryptocirrency market because of its massive and valuable worth. I can say that bitcoin might ecperienced a lot of difficulties in the past but successfully run over that and able to achieve greatness. Most people today knew about it and I can say that in the past few years, bitcoin mighy be one of the most used currency even in offline or reality.

[bryant.coleman]

As a currency, it is true that Bitcoin has struggled to achieve acceptability. And the reasons are well known. High transaction fee and volatile exchange rates are the biggest obstacles to the usage of Bitcoin as a mode of payment. But at the same time, the usage of Bitcoin as a speculative investment asset is gaining traction. Many of the big players have accumulated BTC recently, for the purpose of long-term investment.

[LimLims]

We have all heard the story of the pizza guy getting paid in BTC

If you heard this then you have heard it wrong.
Few years back a person has bought one pizza buy paying a couple of Bitcoins, that doesn’t mean he paid the pizza guy through Bitcoin, he means that at that time the price of BTC was too low and for that reason he sold so many Bitcoins to collect sufficient money to buy the pizza.
And to your question if Bitcoin has failed or not? Then it’s no. I can easily claim this statement if you see the price of Bitcoin.
At last Bitcoins are also accepted at many e-commerce websites and many other popular services.
So it’s time to start a new era.

[yohananaomi]

Well, my gut feeling is that it is getting further and further away from regular Joe in the street, and it may be eventually just getting concentrated in the hands of the rich classes as a store of value.

Prove me wrong!


How many people in your neighborhood where you live hold or use Bitcoin, probably close to zero. And how many in your own family has recently paid for anything with BTC?

with a very high value at this time it is clear that only a few people who do have large capital / large traders still hold bitcoin, but obviously most of them only hold more altcoins than bitcoin in quantity. but although altcoins, of course, their prices cannot be underestimated by bitcoin prices, of course.

because of the question of how many people hold bitcoin in your environment, I can be sure there must be, maybe not as big as expected. at most even if you only save not more than 1 bitcoin, but if you collect it with several others, you can be sure to be quite high too.
once again it may not be like the big traders who hold more than a lot of value, although maybe the traders are not as many as people think.

[Xinarae*]

Although the price of Bitcoin is much lower the demand for it is higher from the beginning because traders know that the price of Bitcoin decreases and actually starts rising again. Bitcoin has not failed, the price has come down a lot due to the low supply. But many countries are not able to buy cash with Bitcoin because Bitcoin is not legal. But because of the effects of the epidemic many countries have legalized it. For this reason the supply of Bitcoin has increased a lot from before.

[semobo]

The value of Bitcoin is keep increasing from the pizza story but it doesn't mean in 2020 you can buy bitcoins with what amount you got, like if you got only 100 dollars but the current value of Bitcoin is 24k means you can buy 100 dollars worth of Bitcoin on the available platform then how can we say that Bitcoin became the product for elites only...

Only people failed to realize the potential but still its the beginning so one who is buying right now will get their benefits sooner.