Bitcoin Is Dying

[xiboothrezi]

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.

after all, the role of bitcoin as a trading commodity and investment instrument is more prominent, rather than just being used as a currency for payment transactions.
of course, this depends on the needs and points of view of each in using bitcoin. the important thing is not to waste the good opportunities that have been offered, by paying attention to risks and preparing strategies.
We also need to know, even though there are many pros and cons, bitcoin has been legally recognized by several countries even though it is only limited as a trading commodity.

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[Rengga Jati]

Why investing in BTC killing Bitcoin and make it dying? As you know, not all countries receive and accept Bitcoin as a currency and they are not legal yet. If we force Bitcoin only as a currency, this will be killing Bitcoin because until now, only a few merchants that accept Bitcoin as currency. Will we still force it?
Investment in Bitcoin is sure making this coin alive the last longer because many more people know the potential of BTC in the future. As long as BTC is still used for any kind of purpose, this will keep BTC alive.

[ilhamsugihamin]

In my opinion, as long as nothing replaces bitcoin as currency, hides your wealth from the government, as a means of buying and selling, and the price is high, bitcoin will not die but will continue to grow.

[Lorence.xD]

Hard to say that bitcoin is dying, even if we want to call it a currency, the limited amount of bitcoin in the world including the lost coins will not be enough to cater the global population for a daily transaction, you also have to consider that bitcoin is still volatile even at this current price rally which means that a cup of coffee that were priced around 0.00004 will change to 0.000045 in a matter of seconds which could spell a bookkeeping and transaction disaster for businesses.

[elisabetheva]

Hard to say that bitcoin is dying, even if we want to call it a currency, the limited amount of bitcoin in the world including the lost coins will not be enough to cater the global population for a daily transaction, you also have to consider that bitcoin is still volatile even at this current price rally which means that a cup of coffee that were priced around 0.00004 will change to 0.000045 in a matter of seconds which could spell a bookkeeping and transaction disaster for businesses.

in the instability that occurred from the past few months is an opportunity for short-term investment to be made, although of course it requires no small amount of funds. but all if analyzed properly will produce something very profitable.

I am also very unsure like you that to say let alone ensure that bitcoin is dying or will dead. because even though there is a reduction due to the halving, of course it will still take a long time to happen, at that time there may be changes that we will not know at this time. because in crypto anything can happen and nothing is impossible.

[rokon1234]

Bitcoin will never dying and bitcoin have no chance to die.Because, bitcoin habit is up and down.i think bitcoin have bright future.so, never lose hope with bitcoin.

[Asuspawer09]

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.

I disagree, made your point is bitcoin is a currency but most people are seeing it as an investment where they could make a profit.

Still, you can't say that bitcoin is dying because of that reason, bitcoin market price is controlled by supply and demand in the market and the limited supply makes sense that is why we see price volatility making it a good investment, its circulation or volatility whats makes it a good investment.

We could say that bitcoin is still growing or instill in a process, as long as people are using it for whatever they want to it will not die. Even if the market price of bitcoin becomes so high up to a million $ it doesn't mean that bitcoin is dead it's the opposite, in the future, we could see how it will operate as a currency.

[iTradeChips]

Clearly clickbait, I would say. Or one stressed out guy who have possibly lost some in crypto and wants to see its demise. Like the Mcafee guy really, supports crypto in one hand then calling for the end of Bitcoin on the other. I mean , come on, there has to be better naysayers than this. You are still being rebutted and that is not good really. Maybe you just chill for the meantime, count your losses and then spend the rest on Bitcoin and just watch it grow again.

[RapTarX]

It's a false sense or understanding of most of the beginner level bitcoiner that we are killing bitcoin because we are taking bitcoin as an investment purpose only while it should be treated as currency only. It's our wrong expectation that BTC will replace fiat or will be used as currency only. I guess there's nothing wrong with taking it as an investment. GOLD has almost no usage other than being treated as a value store. So does bitcoin as well.
Nevertheless, the real usages of bitcoin are very high than most of our expectations or speculation. I have been using this as p2p currency for a very long time and a lot of people are doing that. Then, how are we killing it exactly?

[Natsuu]

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.

Your argument is invalid as you mentioned that people are thinking of this as a way of making money due to "PRICE SPECULATION". If they know that the price is volatile, and can go up and down. Then they know the risk of investing in it in the first place. Ergo, even if they lose money, the only persons who will tag this as a scam are the ones who don't really know anything, and just get dragged by someone who might be the legit scammer.

[Wysi]

Bitcoin died long time ago when people started to consider it as an investment scheme rather than the reason why it was invented and I am sure very few people will use Bitcoin as P2P transaction medium since we got numerous altcoins which has lightening transfer speed and costs less in terms of transaction fees. We are all somewhere responsible for converting technology into investment. If even Bitcoin price goes down then I believe users will Hodl as they have learnt from the past.

[XavierLaurent]

No bitcoin is not dying yet and it won't die any time soon. Prices might not rise a much as they used to, but it doesn't mean that that BTC is dead. Total BTC volume over last 24 hours is over 56 billion, there are a lot of txns in mempool, demand is still high. Eventually prices will level out but we're far from it.

[dunfida]

Bitcoin died long time ago when people started to consider it as an investment scheme rather than the reason why it was invented and I am sure very few people will use Bitcoin as P2P transaction medium since we got numerous altcoins which has lightening transfer speed and costs less in terms of transaction fees. We are all somewhere responsible for converting technology into investment. If even Bitcoin price goes down then I believe users will Hodl as they have learnt from the past.

Bitcoin died 395 times and this number would continue to grow as we go forward.
https://99bitcoins.com/bitcoin-obituaries/

People would continue to say up these common lines when they do saw that the market is declining. Bitcoin is dying , its time for alts now,
ETH will surpass it and other kind of things that do describe that bitcoin isnt the one.

This isnt something new and after all the years, you would really just smirk out of those calls.

[cr1776]

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.

See, e.g.

I wonder how AstroHacker is...check out the comments on this one, pretty similar to the ones today:
https://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html
(Or the original
https://web.archive.org/web/20120118204206/http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/
)

Or

https://cs702.wordpress.com/2011/05/29/on-the-potential-adoption-and-price-appreciation-of-bitcoin-in-the-long-run/

https://bitcointalk.org/index.php?topic=12156.0

[Terrell]

Bitcoin has been declared dead or dying roughly 390 times since 2010. But this year it's dying much less frequently. In 2020, bitcoin (BTC, -9.08%) has been reported dead or dying only 11 times, per a list of these faux obituaries maintained by a Singapore-based website called 99 Bitcoins.

[error08]

Bitcoin died long time ago when people started to consider it as an investment scheme rather than the reason why it was invented and I am sure very few people will use Bitcoin as P2P transaction medium since we got numerous altcoins which has lightening transfer speed and costs less in terms of transaction fees. We are all somewhere responsible for converting technology into investment. If even Bitcoin price goes down then I believe users will Hodl as they have learnt from the past.

Why bitcoin should state died or dying just because people buy the dip and consider it as an investment for hedging?
Bitcoin is an alternative currency, yet I prefer to consider it as freedom, even the founder Satoshi himself knows that bitcoin will succeed, or it will not and there is no 3rd option. If the volume increase, thus the price will skyrocket due to high demand and limited supply. because halving cut the rewards for miners while the cost to run a mining farm remains the same or tend to increase, the price of bitcoin should grow as well.
Furthermore, bitcoin seems not to be the main option to replace fiat currency in daily transactions since not every part of the world have companies that act as an intermediary or merchants that accept bitcoin payment.

because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes.  I'm sure that in 20 years there will either be very large transaction volume or no volume.

https://bitcointalk.org/index.php?topic=48.msg329#msg329

[LiverLamas]

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

yeah, that's why while it still good many people are still believing that they will get more profit

[romero121]

uhn...I don't know, it will turn out to be boring and risky

Anything that has got connection with money making will have the risk associated with it. Bitcoin isn't an exception, and people always have a panic of missing opportunities due to the volatility. This is what termed as high risky. Bitcoin is all about the innovation, but people aren't aware of it. This has now got more importance as an earning source through trading, investment and goes on.

Bitcoin has made itself a multi-purpose tool that can get used based on the requirement rather than sticking to one dedicated functioning. This means Bitcoin is getting transformation and the technology usage is widening. Death of any technology happens when the usage is nil, anymore such a possibility with bitcoin and blockchain technology won't happen.

[LimLims]

This will not be the first time bitcoin will reduce and this does not mean bitcoin is dying. and this is because of the volatile nature of bitcoin possess.
And with the rate to which awareness into bitcoin we are good to go

Well said mate.
People often get confused when the Price of BTC reduced.
Actually it only happens now a days to the volatile nature of the coin.
Instead it also depends on us, if we transact it frequently then the Price of the coin will increase.
BTC follows the trend of supply and demand.
If the demand will be more, supply will be less and then price increases.
Hope OP has some information cleared now.

[fly.math]

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.

MicroStrategy. ...
Galaxy Digital Holdings. ...
Funds. ...
Grayscale Bitcoin Trust. ...
CoinShares. ...
Ruffer Investment Company. ...
3iQ The Bitcoin Fund.

With these companies and many more companies investing on it, I dont think Bitcoin is dying, its just making its way to new ATHs, year by year