Bitcoin Is Dying

[kentrolla]

Even I thought the same when BTC price went down to this week after recovering now I believe the next resistance level could be 50k and that's the reason I think it was struggling, despite a major drop it is once again proving it's capability.

There was a lot of panic sell before few days and I think that's the game of big players, a lot of investment are pouring and more to go guys a life changer for sure but enter at the right time for investment don't get struck.

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[cr1776]

Eventually, the price will level out and it will become a investment that is as boring as gold.

At that point it will be even more useful as a currency.  People will start to spend it, use it, and transact in it, not having to trade out to fiat.  Whether that point will be $500,000 or $5,000,000 is an open question, but it will probably be in that range. (Excluding of course the effects of inflation which will make it higher). The sooner it gets there, the better for everyone who owns it, and most importantly, better for the world.  Bitcoin takes power from those who have used government to seize it and gives it back to the smallest minority in the world, the individual.  

As above, to the OP, bitcoin is freedom.  Every person can use it as they wish, however and for whatever they wish.  Bitcoin isn't about "control" or complaining about someone using it in a way about which you don't approve.  Don't like it?  Too bad.  

[Fesatmas]

there is a time, indeed we cannot prevent everyone's various points of view when considering bitcoin. not only as an investment, a medium of exchange, and a storage of assets in order to avoid inflation of their money.
in this case very much is said to be freedom, because the original purpose of bitcoin is a form of freedom in managing finances without third parties. and the fact that those who manage have different goals and desires, according to their individual needs.

this is unavoidable, even though that we will be branded as a scam user etc. Since bitcoin is so widely known, it cannot close its access with a tap of a finger.

[roadrunnerjaiv2025]

I don't think "dying" is the right description to use. Bitcoin is just progressing as an asset faster than as a currency. There are now many retailers and service providers accepting bitcoin as payment. We just don't hear much about them because the news is focused on bitcoin's market performance and I think we are promoting bitcoin either way. And it's not like we should stop doing one to give way for the other. Neither is getting in the other's way. So instead of viewing investors' obsession for bitcoin as "bitcoin killer", maybe we can leave it at that and just increase our efforts to use bitcoin as a currency. 

[imstillthebest]

this is the only currency that i know that is dying but growing in price but dying is the word for that ? sounds strange because the true meaning of dying is when everything goes down not goes up .
those that who invest on btc are not killing btc but they are making btc alive and more lively .
 we didnt under estimate the pizza guy because we know he did it for a reason and btc was cheap that time thats why he paid thousands of btc for just a pizza  .
thanks to him , now btc is prove that it can be used anywhere .

[cr1776]

I also agree that Bitcoin has strayed from its identity and purpose.
Unfortunately, the big companies and individuals who have entered this market have introduced bitcoin as an investment.
And everyone is talking about bitcoin for profit and income, but we know what the purpose of bitcoin was.

I'm not sure if you do.

Be your own bank doesn't imply that you have to spend anything.  It implies much more than that.  Take a look at some of the things Satoshi said.  (As an aside, I will say that Satoshi's vision would be irrelevant in a p2p system anyway since people are free to use it as they wish, but his vision was not limited to merely commerce, but to the impact bitcoin had everywhere and to say otherwise is a mistake.)

"Chancellor on brink of second bailout for banks" is a comment on the anti-bank, anti-Chancellor, anti-bailout events.  It takes power from the corrupt governments and other entities and gives it back to you.   That power is your freedom to use bitcoin however you want. Bitcoin takes over a function that has been for centuries a function of government - creating and controlling money.  When money was backed by something, government power was constrained.  With fiat, there is little.

Think about these tidbits we have:
- decentralization.  That applies to everything, including governments.  
- Privacy - "As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner."  With taproot and other improvements helping more.
- The paper stresses Bitcoin’s advantages to commerce and people as a free-enterprise payment system. Peer-to-peer transfer is pure free market, with no intervention from governments or anyone else.
- Anti-inflation - see above.
- "Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
- "[Bitcoin is] very attractive to the libertarian viewpoint if we can explain it properly."

- "I’m really excited about the thought of something practical that could truly bring us closer to freedom in our lifetime. :-)”  Satoshi: “Your understanding of Bitcoin is spot on.”

- Satoshi was a fan of b-money which the proposal opens with "I am fascinated by Tim May’s crypto-anarchy. Unlike the communities traditionally associated with the word ‘anarchy’, in a crypto-anarchy the government is not temporarily destroyed but permanently forbidden and permanently unnecessary. It’s a community where the threat of violence is impotent because violence is impossible, and violence is impossible because its participants cannot be linked to their true names or physical locations."


So don't try and pigeon hole bitcoin.

[Youghoor]

Bitcoin is dying and you could be among those who are killing it. In 2010 Laszlo paid 10,000 bitcoins for a pizza. We all know this story but how many of us understand it? Do you think Laszlo didn't see potential in Bitcoin? He could have hodl and sell it off, but, he made that transaction to prove a point; to prove that Bitcoin is actually a currency. But since the price skyrocketed, only a few care about the sole aim of the currency. Everyone is "buying the dip", or "Investing some $$" in Bitcoin, and that is killing Bitcoin. The average person today sees bitcoin as an investment. Are we really turing this Cryptocurrency into a Crypto Asset?!

A way of making more money due to the price speculation. With every new investor believing this, I hate to say this but, Bitcoin is dying. I know that the chances of Bitcoin's price dropping so bad are small. But if it happens, if it ever happens, a lot of people will lose, a lot will pull out, a lot will tag us scam, a lot will (out of anger) say that we are centralized, and a lot would never know or participate in the real use of Bitcoin. We need to figure this out before it becomes too late.

Majority of people in the bitcoin ecosystem are aware of the fact that Bitcoin is a digital currency designed to facilitate online transactions easier and faster. Just like physical money which a lot of people use it for their daily transactions whiles others prefer to keep theirs in the bank, Bitcoin is also used by people for most of their online transactions whiles others prefer to hold onto theirs since there is a potential for Bitcoin to increase in its market value.  Personally, I don't think I will agree with you on the fact that Bitcoin is dying as a currency. I think you don't really understand how the financial ecosystem operates.

[cabron]

Bitcoin is just too big to die now. If thr institutional investors are here tryig to get how much they can grab with the money they have, the higher the price and the more use it could have. You can even use the BTC to pay as the ransom money if someone kidnaps your kid.

BTC will not die all because mostly treats it as investment. Merchants are going to be seeking ways to get some BTC as well, sooner who know maybe majority of stores will also accept BTC.

[Latviand]

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

That's what make bitcoin better than other currency due to its decentralized nature.

The government has nothing to do to have a full control of bitcoin in many transactions that its people are making in the market and in many platforms.

We have financial freedom when we are spending our bitcoin into different uses that we want.

But still it is much better if governments will adopt bitcoin and they will regulate it properly to improve the economy of their country.

[Furious 7]

how can bitcoin be dying if the demand for bitcoin from year to year is very high and has a limited supply it can have price movements that can make a lot of profit for bitcoin buyers, in the future digital currencies like bitcoin will be used by many people because it is more efficient if used for remote transactions.

It was just a short thought how could it be possible with a limited supply now wouldn't it be even more scarce due to the increasing demand?

From year to year, the price of bitcoin will definitely change whether it goes down or up, but what is clear is that with a limited supply it can increase the value of bitcoin in the future, it is undeniable that we will use cryptocurrency as a transaction currency, even we often use this gradually to be legitimate.

[tsaroz]

There are many quick and cheap coins, many of them decentralized to make payments. There are several reasons why most people are in bitcoin but the most prominent way people think about bitcoin is a rare asset with unlimited price and hence a good investment. Bitcoin's nature makes it more like a rare collectible value than a day to day transacting coin. And this specific feature would make it survive and thrive for a long time.

[Josefjix]

Ahhhhh... The whole picture you portrayed makes it a precious Jewell, people are still using it for different purposes. The guy who used 10,000. Btc helped popularise Bitcoin among pizza sellers and a medium of exchange was conducted the whole idea of it being a currency isn't been neglected by different users it just how people find it for different things. People consider it as a safe place for economical freedom so they use their holding abilities as their purchasing power.

You can't still expect the use-case of Bitcoin in the last 10 years to be the same, it is has grown, expanded, loved, invested in, believed in and it is changing our day to day economy and lifestyles. There is no human on Earth currently that would throw off 1000 Btc on a single pizza like that guy did 11 years ago. As it grows and more people find interest in it expect them to use it for different reasons.

[sunsilk]

Why you guys can't accept that bitcoin is multi-purpose, as a currency, and as an investment or medium of transfer/purchase. And to say that it is dying, welp, you're not the first one to say it.

It's been said dead so many times and based on this bitcoin obituary, it's been said to be dead 394 times. That makes 395 with what you've said.

https://99bitcoins.com/bitcoin-obituaries/

[GeorgeJohn]

Really it's obvious that your upset concerning turn up of people into cryptocurrency, many people are not into bitcoin because of its speculation in Price neither because of its profit in investment aspect of bitcoin, currently I comprehend that some persons adventure into these because of security purpose of their money using their capital to purchase bitcoin due to insecurity in bank, looking at it technically it's very clear that bitcoin banking or storage is more preferable than fiat banking, so their is no atoms of signs that show's that btc is dying due to massive adoption of it, from my views anyone who are into cryptocurrency especially bitcoin has a motive of purchasing it.

[Ultegra134]

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

Couldn't agree more, despite the investment potential, Bitcoin is also a fast, anonymous way of sending and receiving money. Back when Bitcoin was worth $200~, I had used it to buy some Minecraft accounts and some other online related stuff.

No one could actually predict that it would reach such price levels, 5 or 10 years ago.

[milewilda]

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

Couldn't agree more, despite the investment potential, Bitcoin is also a fast, anonymous way of sending and receiving money. Back when Bitcoin was worth $200~, I had used it to buy some Minecraft accounts and some other online related stuff.

No one could actually predict that it would reach such price levels, 5 or 10 years ago.

People should really have this kind of impression towards bitcoin not only seeing into its investment potential but rather into its pure relevance and usage.
Bitcoin is dying is something that is already common on this market on where people do call out these words when they do saw that it is declining towards
its price but when it is hyping up then they do really revert back those words and start to believe again.They do just come in and come out
on the market when they do  saw that opportunity. If you do trust up Bitcoin then you wouldnt mind on what would be its price in near future.

[Twinkledoe]

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

Couldn't agree more, despite the investment potential, Bitcoin is also a fast, anonymous way of sending and receiving money. Back when Bitcoin was worth $200~, I had used it to buy some Minecraft accounts and some other online related stuff.

No one could actually predict that it would reach such price levels, 5 or 10 years ago.

People should really have this kind of impression towards bitcoin not only seeing into its investment potential but rather into its pure relevance and usage.
Bitcoin is dying is something that is already common on this market on where people do call out these words when they do saw that it is declining towards
its price but when it is hyping up then they do really revert back those words and start to believe again.They do just come in and come out
on the market when they do  saw that opportunity. If you do trust up Bitcoin then you wouldnt mind on what would be its price in near future.

I don't know why we are still discussing about the usage of bitcoin because there's really a lot of ways how to spend bitcoin. It depends on the user how he will use it, either spend it or hold it. There are so many ways how to spend if anyone is confused on how to spend it. If you can't find merchants directly accepting bitcoin, why not convert your btc to USD and it is all good, right?

[oktana]

You can spend bitcoin, yes, we all know that. But how many people spend it? Everyone is hodling! Wait for the price to go up, so they can exchange for fiat and purchase whatever they want. It's turning out the wrong way.

I'm pretty sure a lot of people do spend their bitcoin; it's just the fact that not every bitcoin holder does. Why? It's not like we can currently spend it everywhere lol; we can only mostly spend it online. Merchant adoption simply isn't there yet.

As far as something isn't used for it's original purpose, it ceases to exist in that form. So, Bitcoin being dead doesn't mean it's price. The only reason one would think that it's the price that I was referring to is if you also considering Bitcoin as an investment rather than a currency.

Bitcoin could be 100% used as an investment/store-of-value right now and I wouldn't call bitcoin "dead". Just a reminder that Bitcoin shouldn't be used solely for what Satoshi described it, just how Onion routing was invented for U.S. intelligence but yet here we are using it for privacy purposes.

Lol... Almost everyone agrees with the point you made and I'm inclusive. But at least you do understand where I'm coming from. Bitcoin may be used for any purpose, that's fine. In fact, that's the real meaning of decentralization. But, it's ability of being a currency is going down, and that is my concern. I'm not saying we shouldn't buy and hodl, but let's engage in its use as a currency as well. Thanks for your kind replies, you communicated sensibly, and I appreciate that.

[Zanab247]

Psst. You can use Bitcoin for whatever purpose you may see fit. You want to use it as an investment? A payment currency? A way of having real ownership over your money? A way of hiding your wealth from the government? You may even use it to buy those anime waifu pillows or Belle Delphine's bath water and I don't care one bit. Because that's the point! You have complete freedom with Bitcoin, and you don't need to care what people think!

Yes, you can use bitcoin to buy whatever you want to buy in a country that is well legalized. But is it the reason why bitcoin was created by Satoshi Nakamoto? Bitcoin was created to eliminate third party in every traditional currency transaction and also to help us to store our money and well secure.

[mk4]

Lol... Almost everyone agrees with the point you made and I'm inclusive. But at least you do understand where I'm coming from. Bitcoin may be used for any purpose, that's fine. In fact, that's the real meaning of decentralization. But, it's ability of being a currency is going down, and that is my concern. I'm not saying we shouldn't buy and hodl, but let's engage in its use as a currency as well. Thanks for your kind replies, you communicated sensibly, and I appreciate that.

Sure, bitcoin being used more as a currency would be great, but that's just how markets work. People will use it as a currency, if they actually think it's worth giving up a small portion of their holdings for a payment. And especially right now when prices are rising, it simply doesn't make that much sense for some people to use it. But while people are not that much using it as a currency right now, people sure are taking advantage of it's scarcity. It's still a huge win in my book.