Bitcoin Is Dying

[Murtaza345]

It's a joke that bitcoin is dying . because bitcin will never dye and you will see in the near future Bitcoin will be a currency like $,£And all that.And you had seen a bitcoin bank has been opened in India ,and nearly you could see the Bitcoin will be regular currency in india .and yes there are many country are thinking about to do regular Bitcoin,and trade and transection in Bitcoin like a currency.so I'm telling again Bitcoin will never dyeing. And now in covid19 pandemic value of cryptocurrency is increased.because you know the covid 19 also transfer bye currency notes .so in future you will see the good value of bitcoin.

[nutildah]

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.

So long as Filipinos are getting paid to Coins.ph addresses, bitcoin remains a currency for at least hundreds of thousands of people, as they make sending it and converting it within their system pretty seamless... I think wallets that service customers in countries whose governments have a similar hands-off approach to crypto regulation also remain unaffected; of course we are now relying on a 3rd party. But there are some wholly capable companies out there, and so long as the cost of moving money through them remains lower than conventional systems, bitcoin will remain a viable currency for millions of people around the world.

[mk4]

So long as Filipinos are getting paid to Coins.ph addresses, bitcoin remains a currency for at least hundreds of thousands of people, as they make sending it and converting it within their system pretty seamless... I think wallets that service customers in countries whose governments have a similar hands-off approach to crypto regulation also remain unaffected; of course we are now relying on a 3rd party. But there are some wholly capable companies out there, and so long as the cost of moving money through them remains lower than conventional systems, bitcoin will remain a viable currency for millions of people around the world.

True. It's pretty much still a currency, just mostly in a 'receiving' than a 'paying' manner, which is not really a bad thing in my opinion. And though a lot of people do use Coins.ph to pay bills and buy mobile load, it's safe to assume that people are mostly using the fiat side of coins.ph for these purposes. Quite unfortunate, but it's to be expected for a country with a pretty high poverty rate, so a lot of them simply cant afford to speculate on risky assets even in the long term(unexpected spendings like hospital bills are a bch).

[bryant.coleman]

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!

This is the perfect reply. Satoshi never specifically said that Bitcoins can't be used as an investment asset. And I don't believe that there is really a difference in purchasing United States Treasury Bonds for investment and keeping BTC as an investment asset. Users are free to do whatever they want to do with Bitcoin. The OP doesn't have any right to dictate the terms to them.

[raidarksword]

The real use of Bitcoin is for peer to peer payment system without the middleman with anonymity process for faster and cheap transactions. With the growing adoption of bitcoin right now, I don't think this will end it hence the price is still increasing this month and this year it will accumulate more price surges in coming months for sure. People also bought bitcoin for investments that's why the success of it is enormous.

[AniviaBtc]

It died 10,000 times already, get over it.

Same as the death, it has experienced lot and lots of resurrection. This means death of bitcoin is eventual, as the same is the growth. With time it'll overcome and reach big, if bitcoin had died, now grasses could've hidden the place where its been buried.

That's how volatile it is, bitcoin can experience ups and downs and I know that most of the investors know that.

It really takes a lot of time for bitcoin to resurrect just like what you are trying to say because bitcoin is not always having a positive movement in the market. It is impossible for bitcoin to die permanently because its value is still progressing in the market, maybe it is just having some resting season where people can buy it in a much lower price.

Bitcoin can live forever, I know that there are other cryptocurrencies that might exist but bitcoin can still be the best in the future.

[Kakmakr]

You have a point for the wrong reason..... 

Bitcoin are still being used as a currency, but due to the volatility... most people prefer to use it as a store of value or for a investment option. (Commodity) The thing is this... most currencies are very stable and merchants wants that, because a fluctuating currency price will cause a lot of troubles. (One day the price is say $100 and within an hour it is worth $120.... no retailer want to manage that kind of price volatility in their payment system)

The real problem is the hoarding of coins, because you need on-chain transactions to happen to generate miners fees for the miners. Remember at one point in the future, Block rewards will stop and miners fees will replace Block rewards... so if there are not enough miners fees to replace the Block reward... then miners will stop mining. 

[LogitechMouse]

Bitcoin may not be used as what Satoshi wants it to be or the people isn't using it the way it has to be but that isn't enough to say that Bitcoin really is dying.

We know that we can use it in different things but most of us are seeing Bitcoin as a form of investment because of its volatility. Many are using it for gambling, trading, paying, investing etc. It doesn't matter anymore as long as many are using it then it is still ok.

One thing more, many already said that Bitcoin is dead (probably a hundred times already or more) and please don't include yourself as one of them .

[nutildah]

The real problem is the hoarding of coins, because you need on-chain transactions to happen to generate miners fees for the miners. Remember at one point in the future, Block rewards will stop and miners fees will replace Block rewards... so if there are not enough miners fees to replace the Block reward... then miners will stop mining.  

With record-high hash rates being set all the time, I don't think the's any danger of miners slowing down or losing revenue. Mining is still incredibly lucrative and IMO the amount of energy thrown at mining is wasteful. However, its set by market forces beyond anyone's control.

The miners will never stop mining, even as rewards approach zero. Even if its just Satoshi booting up his desktop from 2010 and solo mining to keep the network alive after society has collapsed, mining will never stop completely.

[shoreno]

We know that we can use it in different things. Many are using it for gambling, trading, paying, investing etc. It doesn't matter anymore as long as many are using it then it is still ok.

as long as you are using it for legal purpose and not for illegals ( buying drugs , scamming ) no one will get angry with you  and that wont look like bitcoin is dying , rather ( the essence of using bitcoin for good 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.

no your wrong . the chance of btc price drops are so high and it gets higher the higher the value gets  . your second sentence usually happens after the drop happens . people start blaming calling btc a scam but later on we are still seeing investors entering . my man btc seems immortal

[elisabetheva]

The real use of Bitcoin is for peer to peer payment system without the middleman with anonymity process for faster and cheap transactions. With the growing adoption of bitcoin right now, I don't think this will end it hence the price is still increasing this month and this year it will accumulate more price surges in coming months for sure. People also bought bitcoin for investments that's why the success of it is enormous.

maybe it is sometimes resentment because he don't get what he should receive when the opportunity is released because of the situation itself. would irritate people and let out their displeasure accidentally and that is human.

I am the same as you how can it be dying or will not be used again where it is currently in a sharp increase and maybe up to this year. many benefited from the upgrade. what is clear is of course wholesalers, companies that have always kept bitcoin for a long period of time.

I hope that with the increase in bitcoin this year, altcoins can also increase because many are waiting compared to the increase in only bitcoin.

[saffira]

That is how volatility of bitcoin is shown.
Bitcoin is dying we think when the price is down. But, it gets up always and proves its worth. I like bitcoin because I feel free using it as payment. No worries on taxes, really hassle free. As long as it is legally used, there is no problem.

[murat131]

Never bet against innovation. Yes, bitcoin is not the best coin for payment but there are too many hype and fomo about it

[Noctis Connor]

You can't say something that you really don't know, which lot's of people are using bitcoin Anonymity still hiding some of their money into bitcoin you can use bitcoin what ever you want in life as long as there's no people your going to be hit since there a big chances for us to use bitcoin freely and it is depends on us if we're going to use it or nah. People are keeping in eye in bitcoin since the huge volume price increase gives them hope even in this kind of pandemic that they can rise up from the hell they experience in life. I can't say that bitcoin will gonna die because it is decentralize and when there's still people using it it will continue to be live.

[ChrisPop]

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.

If the price of Bitcoin is increasing it does not mean that the world is killing it. It is quite the opposite.
Think about it... Every asset or currency value is driven by supply and demand. The fact that fiat currencies are somehow stable is because of the interventions the governments make in the market.
When you can't interfere with the supply and demand of the market by printing more currency or using other monetary policies, you get a more fair value dictated by the forces of the market.

Nobody stops you to use Bitcoin as a payment method, but is that the right thing to do when it swings multiple percentages each day? - You will have to decide that.

[Joyawan13]

It died 10,000 times already, get over it.

Same as the death, it has experienced lot and lots of resurrection. This means death of bitcoin is eventual, as the same is the growth. With time it'll overcome and reach big, if bitcoin had died, now grasses could've hidden the place where its been buried.

That's how volatile it is, bitcoin can experience ups and downs and I know that most of the investors know that.

It really takes a lot of time for bitcoin to resurrect just like what you are trying to say because bitcoin is not always having a positive movement in the market. It is impossible for bitcoin to die permanently because its value is still progressing in the market, maybe it is just having some resting season where people can buy it in a much lower price.

Bitcoin can live forever, I know that there are other cryptocurrencies that might exist but bitcoin can still be the best in the future.

and of course someone will not be able to make bitcoin die, the more people who want to invest in order to have and buy it for them to keep, bitcoin will always be there and will increase its price, and even if there will be a decrease in bitcoin price, it is certainly a natural and common thing , and investors who want to buy bitcoin at a very high price are already thinking about the risks if there is a price drop, but they are not thinking about it. , because they buy bitcoin, of course they have their own thoughts about what will happen to bitcoin in the future.

[isaac_clarke22]

~

Whoever is that Lazlo, I don't care how much he spend for a pizza.
I could've sold my house just to buy a Big Mac, and does that mean that I don't see potential to my local currency as well?
Everyone has their own "use" of Bitcoin. Doesn't mean that someone you know, believe, or follow is always right.

[pixie85]

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

Is this a bad thing?

I don't really care if bitcoin becomes a world currency, a payment system like paypal, or a digital gold. I'll be happy as long as functions and continues to be a reminder that an independent system of exchange can also work. That not everything has to be registered and ask for permission to be used. That you don't need a license to trade with other people. This is what's important for me.

The average person today sees bitcoin as an investment.

What about simple allocation of wealth?

I don't have enough to buy a house, but I don't want to hold fiat money because it loses value. I don't like gold because it's hard to travel with and to sell. The answer is bitcoin.

[sapnu]

That is how volatility of bitcoin is shown.
Bitcoin is dying we think when the price is down. But, it gets up always and proves its worth. I like bitcoin because I feel free using it as payment. No worries on taxes, really hassle free. As long as it is legally used, there is no problem.

You cannot easily say that bitcoin will die just because the price falls down, that is the nature of every cryptocurrency, the price is changing time by time, the volatility of every token is constant. Keep on believing that bitcoin will live as we continue to use it and as of now, we can see that big companies are now recognizing and adopting the use of bitcoin, which is good news for everyone especially the community because that might help the market to rise up.

[MCobian]

I admit that right now many people use Bitcoin as a digital asset, it is very rare for people to use Bitcoin as a currency. But that doesn't mean
Bitcoin will die, as long as there are people doing transactions with Bitcoin, I think Bitcoin will always live. I even use Bitcoin to gamble and buy
some of the things I want, indeed I also buy Bitcoin more often for investment. Conclusion, don't worry too much about the future of Bitcoin,
because as long as there is still high demand for Bitcoin, it has proven Bitcoin will live on.