The ideology of Bitcoin

[hatshepsut93]

So you are saying that Bitcoin can't disappear because it will forever be a speculative vehicle with cyclic market? I think both parts are incorrect. First, Bitcoin could stop being so volatile and cyclic and turn into a "boring" asset like gold eventually when people will stop panicking and fomoing as it will lose its novelty factor. Second, being a speculative vehicle alone is not enough for it to survive forever. People could tire of it and find other markets that will be more fresh and exciting.

Humanity is very bad at predicting the future, 100 years ago people imagined today as the world of space colonization, flying cars and robots, but instead we have smartphones and internet. You can't be sure that Bitcoin will survive even 50 years, too many things can change.

[Kez1817]

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.

There is no infinite in this world, everything has an end and a new one will come. But I believe bitcoin will last for long because of supply and demand that drives through to become the most valuable digital currency in our generation. What I love in bitcoin is FREEDOM to use, to spend, to earn and to keep without any third party.

[Hippocrypto]

To give further ideology for bitcoin is freedom, it's all about financial independence and not being controlled by anyone who's in power. You're controlling your own money without not depending on any banks that's being regulated by someone who manipulates the interest and profit.
With Bitcoin we can do everything, without any hindrance from growing because your reward will just come without any expectations.

[sunsilk]

There is no infinite in this world, everything has an end and a new one will come. But I believe bitcoin will last for long because of supply and demand that drives through to become the most valuable digital currency in our generation. What I love in bitcoin is FREEDOM to use, to spend, to earn and to keep without any third party.

Yeah, there's no infinite but with what OP is saying is all about its existence until it can for a long time. We don't have any numbers when it will stay but it's good to stay as long as we live.

Technically, about quantum computers. It's said that it's one major catalyst of bitcoin but aren't there quantum computers already? and I just leave that technical side to those who are knowledgeable than me but it's all good, bitcoin will last and even government intervenes. They cannot do with its growth and if a certain country bans it, they're delaying or stopping the growth of their people instead through bitcoin.

[BuNga_cute]

To give further ideology for bitcoin is freedom, it's all about financial independence and not being controlled by anyone who's in power. You're controlling your own money without not depending on any banks that's being regulated by someone who manipulates the interest and profit.
With Bitcoin we can do everything, without any hindrance from growing because your reward will just come without any expectations.

What do you say about the freedom that Bitcoin can give compared to other currencies, could be the Bitcoin ideology that many people like.
Because of the financial independence that Bitcoin can provide, it has been expected by many people long ago. Finally we can all feel how to
control our own finances without the need for bank intermediaries. This is an advance in the financial world, which is usually always controlled
by banks. Therefore I am very grateful to know Bitcoin, because it can fulfill my desire in the financial sector, but unfortunately Bitcoin has not
received full support from the government.

[uneng]

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.

There are more external forces that could interfere in bitcoin besides solely governments. Even natural cataclysms could affect the existence of bitcoin. Things are constantly changing and nothing lasts intact forever. Bitcoin is a great currency or asset for now, but nobody can predict the future accurately, so it's impossible to say what will happen to bitcoin in a century or so.
I see the points you presented in bitcoin favor are all double-edge swords: volatility (from market and investors actions), opportunism, risk, greedy. It means they help bitcoin sometimes, but they also prejudice it in another times. These factors aren't enough to sustain bitcoin is going to thrive in price and adoption for an undetermined period of time.

[verita1]

As the article describes it, I keep it as the principle of bitcoin.
I also respect OP's opinion because we know that there are investors in bitcoin with the idea of ​​amassing fortunes.

For my part, I am on the side of the unbanked, who despite having bank accounts most of the time are empty because I use my local currency only when I need to go shopping for groceries and supplies from my home because the rest of my money is in bitcoin and cryptocurrencies.

Many times I went to my bank to apply for a credit card to buy a PC to study and work and all those times they were denied. Now I can buy any device without having to ask for a credit from the bank because bitcoin and cryptocurrencies gave me the facility to buy them. It has not been for free, I have worked hard to achieve it and with satisfaction I can say that it has been worth it.

"I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party." Those were the words pseudonymous Bitcoin creator Satoshi Nakamoto used to greet the world some 12 years ago in an email releasing the Bitcoin white paper.

https://www.coindesk.com/what-is-the-bitcoin-white-paper?amp=1

[just_Alice]

Volatility is Bitcoin’s great feature, really? High volatility only attracts greedy people, and nothing good can come out of that. With more risk-takers who only see Bitcoin as an income source, it will eventually become a playground for investors. The “natural selection” will work on the market and, eventually, the strongest (aka the richest) will survive price surges and dumps.

Those who favor volatility so much have no ideology and don’t understand the meaning of cryptocurrencies. Eventually, they will switch to shitcoins with higher volatility and smaller market cap, because they only care for money.

Volatility needs to be reduced!

[oktana]

I wouldn't really consider the volatility of bitcoin as an advantage. Coming from the perspective that Bitcoin was created to serve as a currency, volatility seems more of a disadvantage than an advantage. Imagine paying for a product and 3 minutes later, the price pumps and you realized you paid more. Or imagine if you owned a store and you get payment for an item, 3 minutes later, the price dumps and you need to stock up again but you can't because the price dumped and your money has reduced.

[mk4]

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.

Adoption and price will likely drop a huge chunk(albeit temporarily), no doubt about that. But it ain't dying. Bitcoin won't cease to exist just like how piracy and drug use still hugely exist even when governments has already illegalized them since forever.

[trannguyenbtc]

As Bitcoin’s reputation and value continue to grow over the course of its existence, new investors are entering the cryptocurrency market. Not everyone is here for ideological reasons, however, nor should anyone expect them to be. Many Bitcoin users were lured into the market by romantic stories about overnight Bitcoin billionaires and false promises of get-rich-quick schemes. Conversely, many Bitcoin users are individuals out of range of any significant banking institutions or living in countries experiencing inflationary crises.

[Brus123]

I absolutely agree that Bitcoin is not likely to depreciate any more. There are so many people who really trust this system. We invest in it, we use different projects not only on Bitcoin, but also on other blockchains, so the crypto market enlarges really rapidly. Also I believe that Bitocin is likely to replace fiat money one day, as it is really easier to use it instead of the bank system.

[Leviathan.007]

In my own idea bitcoin is a tool and people can have different ideologies depending on their situation and their need. The most popular ideology is to remove the governments, third parties, and any other third element from the transactions you make. In other words, people can have economic freedom, the times before bitcoin was invented there was nothing like that and bitcoin gave this to humanity. Bitcoin is a technology and we all know any technology should be adopted over time or get expired and I think due to the demand of bitcoin it will be last long for years and will get adopted.

[Leviathan.007]

In my own idea bitcoin is a tool and people can have different ideologies depending on their situation and their need. The most popular ideology is to remove the governments, third parties, and any other third element from the transactions you make. In other words, people can have economic freedom, the times before bitcoin was invented there was nothing like that and bitcoin gave this to humanity. Bitcoin is a technology and we all know any technology should be adopted over time or get expired and I think due to the demand of bitcoin it will be last long for years and will get adopted.

[dupee419]

The ideology you gave is actually on point, though it may sound like a double-edged sword but that's actually the point on why there's a love-hate relationship with Bitcoin and the people, also, volatile may seem to be like a villain and a hero at the same time, too much volatility is indeed scary but we can't control it either can we? The thing is, Bitcoin will be here to stay, more and more people would engage in crypto, but fiat won't go away either, we have options.

[isaac_clarke22]

Not everyone is fan of the volatility of the market, this is why we still have many people that are just indecisive when they first bought their coins here in crypto.
And yes, the volatility still comes from the buying and selling, AKA supply and demand, but because Bitcoin is so accessible almost everywhere, everyone in the world could just be whale and cause the price to be manipulated.
Can we also count aliens? 

[KingsDen]

And one more thing, I love the fact that you called them external forces, what could be labeled as "internal" forces?

Yes, government, natural disaster like covid or something worse I termed external forces. We can consider developers, miners, traders and investors as internal forces.

Humanity is very bad at predicting the future, 100 years ago people imagined today as the world of space colonization, flying cars and robots, but instead we have smartphones and internet. You can't be sure that Bitcoin will survive even 50 years, too many things can change.

I agree with you, humans even with the aid of technology aren't good in predicting the future. Maybe Nature takes it's course. Very many changes could happen in the future, but blockchain technology still has along way to stay with humanity.

I wouldn't really consider the volatility of bitcoin as an advantage. Coming from the perspective that Bitcoin was created to serve as a currency...

It's becoming obviously that the currency purpose of bitcoin will not stand the test of time. Infact, to me I am no longer seeing bitcoin as a currency for routing exchange. It's an asset or a store of value to me for now.

[ChrisPop]

Well, you could say aproximately the same things about a number of stocks as well. The thing is that the fundamentals should stay the same. The risk of buying Bitcoin would be immense if there wouldn't be an underlying, functional, worldwide and decentralized network that enable us to make payments. Moreover the limited supply is playing a big role here. You see.. if Bitcoin would be flawed nobody would want to own it.

What is described in the OP are basic human emotions, but those are not the only thing that characterize market movement. Professional investors & traders who have access to much deeper pockets than retail traders do (which base their decisions on emotions) have the biggest impact on the market. My point is that rationality is dominating the investment decision process of the pros and not the emotional side of the brain.

[Dhoe]

it can be said that the ideology of bitcoin when it first appeared was, wanting to achieve the target of being able to become a digital currency, even to be able to make a currency that can be used to buy our daily needs, in my opinion that is the first ideology of bitcoin, but about investment assets etc., it's just for the side, because people think investing in bitcoin can get more profits, so many people do that..

[Alisha-k]

The government is just a group of leaders who sits in the corridor of power dictecting what happens in economy or not. The government in a democratic society involves both does in authority and it's subjects meaning for bitcoin to crash involves the agreement of both parties even if those in authority decides to place a ban on it, it will take the implementation of both sides to see it's effected in the case where the subjects disagress then it will still be operative but not as a legal entity.