I have a doubt about Bitcoin

[MarjorieZimmermanGinger]

Bitcoin is supposed to be a way to send electronic cash. It shouldn't need too many lines of code to do that. That's why i had asked if you could program something like that with say 1000 lines of code and be done with it forever. KISS principle at work. The more complicated you make something, the harder it is to understand and manage. I think for most people, sending money from point A to point B is all they need in Bitcoin. That's what it was meant for anyway. But if you try and add on alot of extra things, I don't see the point. Might as well make a new cryptocurrency from the ground up to do that.

Bitcoin and Electronic Money are different, people's failure to understand this problem will actually make assumptions, indeed bitcoin and electronic money are both used as virtual currencies, do not have a physical form and are recorded on the network, but in fact they are different.
Bitcoin is not centralized in a single ledger or server and bitcoin is located in a decentralized blockchain network, while electronic currency is registered in an open that is controlled by a single entity, the two are actually not the same even though they have similar functions..

[larry_vw_1955]

Bitcoin and Electronic Money are different, people's failure to understand this problem will actually make assumptions, indeed bitcoin and electronic money are both used as virtual currencies, do not have a physical form and are recorded on the network, but in fact they are different.
Bitcoin is not centralized in a single ledger or server and bitcoin is located in a decentralized blockchain network, while electronic currency is registered in an open that is controlled by a single entity, the two are actually not the same even though they have similar functions..

I understand the distinction you are making. But it wasn't what i was trying to highlight but anyhow.bitcoin adoption will needing to increased in order to compete more with "electronic money" as you have defined it. it will also have to compete on cost merits aka, fees need to be in line and not larger than just using "electronic money" or else why would someone want to use bitcoin to do a transaction? with a credit card or your bank, you have protections and might be able to do chargeback if you got scammed, not so with bitcoin. no buyer protection there.

[MarjorieZimmermanGinger]

with a credit card or your bank, you have protections and might be able to do chargeback if you got scammed, not so with bitcoin. no buyer protection there.

What makes bitcoin different is that we set up our own security system, either through an exchange or through a wallet.
It is called decentralized bitcoin, because it has the freedom to set up a financial security system, without any authority like banks and other financial institutions, and this gives freedom to anyone.
Of course there is a degree of weakness, but I think the benefits are greater in practice that I experienced.

Regarding fraud, cases of fiat currency also often occur, so the benchmark is not seen from there, when you make transactions using bitcoin, we automatically understand the impact, on the problems we must avoid

[fullhdpixel]

What makes bitcoin different is that we set up our own security system, either through an exchange or through a wallet.
It is called decentralized bitcoin, because it has the freedom to set up a financial security system, without any authority like banks and other financial institutions, and this gives freedom to anyone.
Of course there is a degree of weakness, but I think the benefits are greater in practice that I experienced.

Regarding fraud, cases of fiat currency also often occur, so the benchmark is not seen from there, when you make transactions using bitcoin, we automatically understand the impact, on the problems we must avoid

That's just one part of the decentralized part and that's why I like it. Another part is that fiat is controlled by governments and as we all know politicians are bad, slimy, corrupt, terrible people who would do anything to get their votes up, most of the time that means making the nation worse for the short term in order to win elections and terrible for the long term.

This is why it's always better to have a chance at what we can do with crypto since politicians can't touch it. They can ban it, or allow it, but they can't do anything with it. Bitcoin is the king of this, it can be seen as the biggest thing that governments will lose against, since it will give people financial freedom away from their governments all around the world.

[batang_bitcoin]

Why haven't you looked at many other projects, they're keep on developing and you're only focused on bitcoin? A project has to keep on developing because that's how it must be. If there's no development, there will still be some complaints to be made. I may agree to you that when it's too much, it doesn't look good but that only is what I think if the development isn't attached to its purpose and current status. But as for bitcoin, it isn't really that much of development and it's still good as it was and this is why it has a consensus.

[franky1]

with a credit card or your bank, you have protections and might be able to do chargeback if you got scammed, not so with bitcoin. no buyer protection there.

the thing is those "protection features" of credit cards.. are also abuse features.
many many times scammers actually use those chargeback features to scam..
they buy a product. then pretend their account was hacked to get money back. thus get product for free..

yep chargeback scamming happens alot. many retailers have to add in extra things to then reduce the amount of chargeback scamming. (extra protection at fund recipient end)
meaning fiat is easy to send, but easy to return which then needs an extra step tp protect against the easy return at the recipient end(3 step process and still not immutable/free of risk)



bitcoins finality and immutability of settlement is good security. its a 1 step. where by people need to actually control their spending and they themselves have to be risk aware and secure about their fund store right from the first step.

rather than relying on middle men to take on the risk/control your value, where then the recipient then needs to protect against the middleman ability to reverse

you can ofcourse use custodians and have that system.. but then its a 'not your key not your coin'. so why pretend to say you are a bitcoiner

[MarjorieZimmermanGinger]

That's just one part of the decentralized part and that's why I like it. Another part is that fiat is controlled by governments and as we all know politicians are bad, slimy, corrupt, terrible people who would do anything to get their votes up, most of the time that means making the nation worse for the short term in order to win elections and terrible for the long term.

This is why it's always better to have a chance at what we can do with crypto since politicians can't touch it. They can ban it, or allow it, but they can't do anything with it. Bitcoin is the king of this, it can be seen as the biggest thing that governments will lose against, since it will give people financial freedom away from their governments all around the world.

That's true, but this time I don't want to go too far into the government system, there are many problems in that system, friend?
which in real practice, bitcoin has advantages over the existing system, people like bitcoin because it is decentralized, we become kings in managing our own finances.
Of course not everyone gets the chance. But for people who know, they will definitely choose bitcoin as the best asset

[wahyuagung26]

Why haven't you looked at many other projects, they're keep on developing and you're only focused on bitcoin? A project has to keep on developing because that's how it must be. If there's no development, there will still be some complaints to be made. I may agree to you that when it's too much, it doesn't look good but that only is what I think if the development isn't attached to its purpose and current status. But as for bitcoin, it isn't really that much of development and it's still good as it was and this is why it has a consensus.

When Bitcoin increases then other projects will also increase, so apart from paying attention to the projects you said, I think Bitcoin is also very important to pay attention to. and the development of Bitcoin was very influential on other projects. it's true that every project will need development and they should grow, and I think the development of Bitcoin will help these projects.

[batang_bitcoin]

Why haven't you looked at many other projects, they're keep on developing and you're only focused on bitcoin? A project has to keep on developing because that's how it must be. If there's no development, there will still be some complaints to be made. I may agree to you that when it's too much, it doesn't look good but that only is what I think if the development isn't attached to its purpose and current status. But as for bitcoin, it isn't really that much of development and it's still good as it was and this is why it has a consensus.

When Bitcoin increases then other projects will also increase, so apart from paying attention to the projects you said, I think Bitcoin is also very important to pay attention to. and the development of Bitcoin was very influential on other projects.

You don't have to think about it because bitcoin is the main attraction in the market. I've just mentioned the other projects because of the upgrades that they do for so many times. As you say about the increase, it's probably the price that you're talking about. It's always like that when bitcoin's price increases, then the rest follows.

it's true that every project will need development and they should grow, and I think the development of Bitcoin will help these projects.

All of them rides to bitcoin because it is famous and most projects are relying on it. This is the reality so whether there will be or there's no development for bitcoin, they'll remain the same as what the other projects do.

[Apocollapse]

When Bitcoin increases then other projects will also increase, so apart from paying attention to the projects you said, I think Bitcoin is also very important to pay attention to. and the development of Bitcoin was very influential on other projects. it's true that every project will need development and they should grow, and I think the development of Bitcoin will help these projects.

That's why we need to avoid the rest shitcoins and only focus about Bitcoin, because shitcoins didn't help Bitcoin at all and it just make the crypto environment bad due to exit scam project. Bitcoin protocol could be changed, but everyone who're the creator and the contributors on Bitcoin technical development wouldn't agree and will stick with the decentralized nature of Bitcoin. This mean Bitcoin has no chance to scam, but the centralized exchange and scam wallet is.

[Bitcoin SV]

#2: anytime you introducing new changes to bitcoin, you run the possibility that you are introducing bugs. apparently the ability to foresee bugs is not absolute so they don't know what bugs they might be introducing when they introduce major changes like Taproot https://www.investopedia.com/bitcoin-taproot-upgrade-5210039.

You can't just keep changing bitcoin trying to make it better and better forever. At some point, it needs to become immutable. So people can know what they are getting. In full. I'm not sure but I'd imagine the codebase for bitcoin is a mishmash of hard to read files. Another not so nice thing. But that's a result of its development style. Adding on new things on top of old things. Or alongside. Ideally you lay out a full blueprint of the entire thing at the very outset and design and develop it once. Done. The rest is bug fixes if necessary but no more.

Anyone that's ever tried and program some simple software and then later on come back and add new things into it it can end up being a nightmare to try and understand and maintain the code...there's alot of bitcoin users out there who don't understand this aspect of bitcoin at all!

That's right. BTC code is spolied now and now BTC is not original bitcoin

These monkeys made so many changes that BTC is no longer the same

[tomos81]

Bitcoin has reflected massively in the current era and everyone has become tolerant of Bitcoin. Bitcoin is one such crypto coin that has taken the cryptocurrency world by storm. You may notice that Bitcoin is one of the most reflective of its only perceived cryptocurrency.

[Fatunad]

When Bitcoin increases then other projects will also increase, so apart from paying attention to the projects you said, I think Bitcoin is also very important to pay attention to. and the development of Bitcoin was very influential on other projects. it's true that every project will need development and they should grow, and I think the development of Bitcoin will help these projects.

That's why we need to avoid the rest shitcoins and only focus about Bitcoin, because shitcoins didn't help Bitcoin at all and it just make the crypto environment bad due to exit scam project. Bitcoin protocol could be changed, but everyone who're the creator and the contributors on Bitcoin technical development wouldn't agree and will stick with the decentralized nature of Bitcoin. This mean Bitcoin has no chance to scam, but the centralized exchange and scam wallet is.

You cant really stop the inevitable considering that Bitcoin did really gain up much attention and since there are developers who could really make their own coin similar to this then this is where things do start.
Lots of shitty coins that we do have in the market but there are projects which are relevant and actually able to get some market share and dominance in the market and since people do really loves on diving
into things which is more cheaper then they are really going into those alternatives and consider on making out investment with it.When you do have doubts on bitcoin then it is your choice
but to look on the other side where there's a huge support on it.

[goldrushed2]

dont doubt - buy now 

[fullhdpixel]

That's just one part of the decentralized part and that's why I like it. Another part is that fiat is controlled by governments and as we all know politicians are bad, slimy, corrupt, terrible people who would do anything to get their votes up, most of the time that means making the nation worse for the short term in order to win elections and terrible for the long term.

This is why it's always better to have a chance at what we can do with crypto since politicians can't touch it. They can ban it, or allow it, but they can't do anything with it. Bitcoin is the king of this, it can be seen as the biggest thing that governments will lose against, since it will give people financial freedom away from their governments all around the world.

That's true, but this time I don't want to go too far into the government system, there are many problems in that system, friend?
which in real practice, bitcoin has advantages over the existing system, people like bitcoin because it is decentralized, we become kings in managing our own finances.
Of course not everyone gets the chance. But for people who know, they will definitely choose bitcoin as the best asset

100% agreed there mate, there is no person who would be hurt by a bitcoin "payment" system, you will be able to get money from all around the world if you did that and that's great. But on top of that the decentralized version would make sure that you can reach out to the whole world and yet nobody can reach out to you at the same time.

I can sell something to a person on the other side of the world, but my own government can't touch a single cent of my crypto if it's in my own wallet (may block exchanges or something so it is better to have it on your own wallet). The existing system just sucks, big time, it allows 1% to be rich, and 90% to be poor and only small percent to be "decent".

[BlackBaron]

There seem to be too much development taking place on bitcoin. Changes always being proposed. How are we ever going to be able to trust that bitcoin will never change if people are always trying to propose changes to it and get it implemented.

#1: that kind of ruins the idea that bitcoin is going to be the same today as it was yesterday and tomorrow. today they might be proposing a change to some fee mechanism. tomorrow it might be changing the max supply.

#2: anytime you introducing new changes to bitcoin, you run the possibility that you are introducing bugs. apparently the ability to foresee bugs is not absolute so they don't know what bugs they might be introducing when they introduce major changes like Taproot https://www.investopedia.com/bitcoin-taproot-upgrade-5210039.

You can't just keep changing bitcoin trying to make it better and better forever. At some point, it needs to become immutable. So people can know what they are getting. In full. I'm not sure but I'd imagine the codebase for bitcoin is a mishmash of hard to read files. Another not so nice thing. But that's a result of its development style. Adding on new things on top of old things. Or alongside. Ideally you lay out a full blueprint of the entire thing at the very outset and design and develop it once. Done. The rest is bug fixes if necessary but no more.

Anyone that's ever tried and program some simple software and then later on come back and add new things into it it can end up being a nightmare to try and understand and maintain the code...there's alot of bitcoin users out there who don't understand this aspect of bitcoin at all!

Everyone has a different understanding of Bitcoin, also beliefs, we are on the internet in an intangible world, but you can see, Bitcoin has different feelings for everyone, if you believe or not believe, do it or back off, it's your risk whichshadow yourself.

[Retiicle]

The unpredictable nature of the cryptocurrencies is a major reason why we are able to make money through trading. If the market was not moving, there would not have been any chances of making money.

[goldrushed2]

The unpredictable nature of the cryptocurrencies is a major reason why we are able to make money through trading. If the market was not moving, there would not have been any chances of making money.

Agreed. Thats why I like it. But emotional attached - no. Its actually easier to track/trace, and block everything you do with blockchain. Networks could easily be seized by central banks if they were not manipulating the price being the biggest market movers lol.

[DooMAD]

The unpredictable nature of the cryptocurrencies is a major reason why we are able to make money through trading. If the market was not moving, there would not have been any chances of making money.

What does any of that have to do with the topic at hand, though?  This is a discussion about development, not markets.  Go waffle about speculation somewhere else, please.  It's not like we don't have enough of those topics already.

dont doubt - buy now 

Ditto for this.  It helps if you actually read the thread before replying.

[rby]

Could Bitcoin remain stagnant forever? Which is better, that Bitcoin permanently remains as it is notwithstanding the changes around it or that it could somehow be continuously developed to cater the ever-changing demands and other circumstances? With the former, Bitcoin faces the risk of getting irrelevant and obsolete. With the latter, it could adapt to the times. However, with the former, the rules are etched in stone. With the latter, they could change.

If bitcoin remain stagnant forever that means it will loss attraction for investment. So for the price to be spinning that is what what is keeping the Bitcoin and it's value alive, but some people don't know that if the price of bitcoins remain on sixty thousand or sixty six thousand many people will not risk their money to invest in Bitcoin. And if the price is being fixed you will see many agitation because the vibes of investment will warm out for cryptocurrency.

Bitcoin must continue to change and be dynamic. The best form of bitcoin is not gotten yet, and that is the beauty of open source protocol. Apart from the coding part of it, bitcoin is still a young technology, it is barely a decade old, for it to be successful on the long run, it must continue to be updated and that is the only way to solve totally the scalability problem of bitcoin.