The ideology of Bitcoin

[KingsDen]

I stand to be corrected on this;
Without the interference of external forces (governments), bitcoin will last as long as humanity will exist.

See why I insinuate thus;
1. The volatility of bitcoin is a great feature that keeps it flourishing.
2. The volatility is induced by the act of buying and selling.
3. See the ideology; if bitcoin is on correction, there are millions of people seeing it as the best time to buy. Even if bitcoin crashes to $10,000 as many will be anguishing, some will also see it as a buying opportunity, hoping it will climb back to 40,000+.
4. So, in as much as humans remain;
a. Insatiable
b. Opportunists.
c. Risk takers
d. And maybe greedy.
Bitcoin will co-exist with humanity till infinity.

[Kong Hey Pakboy]

The only ideology that I believe is what truly bitcoin is, "be your own bank and banking the unbanked." That's the true goal of bitcoin in the first place, remove the middle man and deliver the transaction between the buyer and the seller directly.

[mrongoz_imut]

The first ideology belongs to entrepreneurs who see Bitcoin as a tool and predict the use of Bitcoin applications that will drive adoption. What is clear is that bitcoin gives us freedom in all fields, we cannot deny that the presence of bitcoin makes us more comfortable to store our own assets without any third party. who can manage it..

[Yaunfitda]

Technically though the last bitcoin will be mine by 2140, but we really don't know what will happen if bitcoin will go on and beyond infinity.

Just like any assets, there's a lot of opportunist in the market, buying when the price dips and then selling when the price is high. Greed only sets in if you still look for more profits and doesn't want to sell despite like having a 100% or even more ROI already. So bitcoin will remain if there is demand that will push the price to go higher.

[KingsDen]

So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

[Rainbow-queen]

So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

The price rises as more and more people recognize it, and it will be higher in the future.In the future, satoshis will be used as the unit, so it seems that the price will be'not high'.

[iv4n]

So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

I don't think that higher prices can scare anyone! We have many people who start buying at higher prices (what do you think who bought the top at +$60k this time, and at $k20 in 2017?!)! If we can think about Bitcoin at $100k, then this would be a good moment for entering, after all, it's x2 your investment.

Bitcoin is an ideology because it's about economic freedom, about handling your own business on a decentralized platform, where all the rules are the same for everyone! Not just because the price is volatile and to many speculations... Bitcoin stands for something more than just a value, the value that is constantly rising is just a positive return to all early supporters!

[GreatArkansas]

So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

The price rises as more and more people recognize it, and it will be higher in the future.In the future, satoshis will be used as the unit, so it seems that the price will be'not high'.

It is expected. Basic demand and supply.
Bitcoin for me is the extremely perfectly created currency with preserving its value. It greatest invention of the century for me.
Bitcoin is created just to go up only. And I am very positive that even government can't take down Bitcoin.

[davis196]

The price volatility of Bitcoin has nothing to do with the ideology of Bitcoin.
The main idea of Bitcoin is to be a currency or asset,which is out of the control of any central bank or authority.The scarcity/limited supply of Bitcoin means that nobody can create Bitcoins out of thin air and sell them on the market.The main ideology of Bitcoin is based upon mutual agreement,consensus and democracy not profits,greed,price volatility and opportunism.
Bitcoin will continue to exist as long as it serves it's main purposes-to be a decentralized store of value and a medium of exchange.

[DannyHamilton]

...the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

The smallest unit of the Bitcoin currency is commonly called a "satoshi".
At $40k per "bitcoin", the cost of a "satoshi" is $0.0004 (4 hundredths, or 1 twenty-fifth, of a penny!).
At $60k per "bitcoin", the cost of a "satoshi" is $0.0006 (6 hundredths, or 3 fiftieths, of a penny!).
At $100k per "bitcoin", the cost of a "satoshi" is $0.001 (1 tenth of a penny!).

I don't understand why anyone would think that a tenth of a penny is "too expensive" or why a tenth of a penny would scare anyone away.

[mk4]

Bitcoin will last as long as humanity will exist even with the interference of external forces. The government can ban and outlaw the crap out of Bitcoin but it will still survive. Bans and criminalization will only hinder it's growth to some extent, but definitely not kill it.

[sapnu]

I stand to be corrected on this;
Without the interference of external forces (governments), bitcoin will last as long as humanity will exist.

See why I insinuate thus;
1. The volatility of bitcoin is a great feature that keeps it flourishing.
2. The volatility is induced by the act of buying and selling.
3. See the ideology; if bitcoin is on correction, there are millions of people seeing it as the best time to buy. Even if bitcoin crashes to $10,000 as many will be anguishing, some will also see it as a buying opportunity, hoping it will climb back to 40,000+.
4. So, in as much as humans remain;
a. Insatiable
b. Opportunists.
c. Risk takers
d. And maybe greedy.
Bitcoin will co-exist with humanity till infinity.

Bitcoin will surely last for a very long time and we might even cease to exist before it does so for now, let us make the most from it and be wise and strategic with our investments. Those traits of a human being you've mentioned will surely act as a foundation as bitcoin innovates more. It is a never ending cycle for humans to be greedy, to take risk, to give up and try again after a long while and to grab opportunities whenever they see one. It might look bad at some point but it is what nourishes bitcoin's growth and it is inevitable to see the world without those kind of individuals.

[Obito]

Bitcoin will last as long as humanity will exist even with the interference of external forces. The government can ban and outlaw the crap out of Bitcoin but it will still survive. Bans and criminalization will only hinder it's growth to some extent, but definitely not kill it.

If the government all over different countries enforce an authoritarian rule, and ban bitcoin from use and heavily penalize those that use them despite the prohibition, I think we will be seeing bitcoin slowly fading out because the punishment is not worth the risk. The ideology for me is that bitcoin is freedom and that anyone should be free to decide how to spend and earn their money.

[adzino]

I stand to be corrected on this;
Without the interference of external forces (governments), bitcoin will last as long as humanity will exist.

See why I insinuate thus;
1. The volatility of bitcoin is a great feature that keeps it flourishing.
2. The volatility is induced by the act of buying and selling.
3. See the ideology; if bitcoin is on correction, there are millions of people seeing it as the best time to buy. Even if bitcoin crashes to $10,000 as many will be anguishing, some will also see it as a buying opportunity, hoping it will climb back to 40,000+.
-snip-

1.Isn't bitcoin and crypto currencies being very volatile one of the issues? Isn't it because of this volatility, most of the merchants or people are worried about accepting crypto currencies as a payment? Imagine receiving few thousand dollar and within seconds the value drops by 10%-15%. We have seen that happening a lot.

2. Wait for the market cap to grow even higher. We will see it become very less volatile .

3. That's not an ideology of bitcoin....

Bitcoin will co-exist with humanity till infinity.

It might. It might not. We don't know what the future tech would be. Maybe we will be using something that has evolved from bitcoin.

[The Cryptovator]

It seems you limit Bitcoin in just profitability from the volatility. I am getting hard to understand you are describing Bitcoin ideology or describing the advantages of volatility. It's very true Bitcoin has become the most popular cryptocurrency due to volatility. But this isn't the true ideology of Bitcoin. You just skipping Bitcoin technology and how it has been helping payment solutions.

As we can see many merchants have been accepting Bitcoin and a few merchants wondering to do so. So by using Bitcoin technology we can make a secure and easy financial environment. You can send money anywhere in the world where the internet is available within minutes and without any involvement of a third party. That's what would keep alive Bitcoin. Volatility isn't really helpful to keep Bitcoin alive.

[Renampun]

...

when bitcoin was first circulated, humans have bound to bitcoin...

nothing can erase bitcoin from this world, except the internet is completely absent. if anyone says the government can kill bitcoin then that person is an idiot. bitcoin has become immortal.

[Wakate]

So bitcoin will remain if there is demand that will push the price to go higher.

Does the price really need to go that high for it to remain?
I believe it's a talk of volume as the price is somewhat ok within the range of $40k to $60k. If the price rises so high above $100k, it might scare many who will think it's too late away.

The market always have it's own way of correcting itself to balance the inflow of price.

Retracement is the correction part of the crypto market that tries to balance the buying and selling of assets when price is over bought or over sold. Crypto traders should be familiar with retracement whenever the market price as really gone high, coming down in a short while known as Retracement to make sure that price is not too over sold or over bought.

The major reason of the existence of Bitcoin is to maintain a fast and fair transactions without the stress one has to undergoes before cashing out their own funds.

[Fesatmas]

Unless world war III starts and nuclear throws between countries, then you will not be able to access Bitcoin in peace. Unfortunately what we are witnessing is World War III with a version of the trade war that is trying to take the centralized economic system. Bitcoin as a judge will certainly remain as long as the court is not closed due to the pandemic.

First, no one knows how long and the limit to what point. Second, we are not fortune-tellers who can predict one day ahead, we are not even sure to say tomorrow we are still breathing or not.
Let everything run as it should, most importantly while you have time, use it to grow the spread of Bitcoin to all corners of the world, and let people in the countryside know the name Bitcoin.

[stompix]

I stand to be corrected on this;
Without the interference of external forces (governments), bitcoin will last as long as humanity will exist.

Right from the start, let's apply the evil gubbermint tinfoil.  But I thought governments couldn't stop bitcoin, so...
And one more thing, I love the fact that you called them external forces, what could be labeled as "internal" forces?

See why I insinuate thus;
1. The volatility of bitcoin is a great feature that keeps it flourishing.

Let's assume the current system dies, so since there is no more $, then there is no volatility right?
Meaning that bitcoin will stop flourishing and die alongside fiat, or am I missing something?

4. So, in as much as humans remain;
a. Insatiable / b. Opportunists. / c. Risk takers  d. And maybe greedy.
Bitcoin will co-exist with humanity till infinity.

Nice to hear that we only need a few of the seven deadly sins to keep bitcoin alive /s

It seems you limit Bitcoin in just profitability from the volatility. I am getting hard to understand you are describing Bitcoin ideology or describing the advantages of volatility. It's very true Bitcoin has become the most popular cryptocurrency due to volatility. But this isn't the true ideology of Bitcoin. You just skipping Bitcoin technology and how it has been helping payment solutions.

Because that's the main focus now, that's why taproot went almost unnoticed and that's why even the LN is not the main source of news but when somebody points at a company buying and storing coins we have a flood of news and topics and posts. The utility and improvements in utility are not creating hype anymore, everyone is focused on the price and that's all.

Bitcoin was doing its job of sending money, transferring money, storing your money safe even at 30k$ but everyone was in a dark mood, now that we're back above 45k$ everyone is optimistic again, it's clear that we have shifted away from the things mentioned in the whitepaper, rather than using it to storing and transferring wealth safely, it is mainly viewed as a source of creating it.
Anyhow, nothing that can be done, just sit and watch how this unfolds, trying to make the best of it.

[Gbniman]

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet.
I believe Bitcoin existing will last longer even the government try the best to damage and try to stop it, because it a freedom to make a transaction easily without no stress.