Bitcoin Journey Began 40 Years Ago; is this the end?

[nurilham]

Currently looking at the facts that are happening, Bitcoin is indeed only a speculative asset, which is an asset that is used to get a lot of profit in the form of investment because of the high volatility of bitcoin. People are still not fully using Bitcoin for payment for goods and services due to regulatory issues that are not fully operational in some countries.

No. You can't conclude that Bitcoin is only a speculative digital asset when there are already some people who really use it for payment purposes in reality. We can't expect all people suddenly use Bitcoin as a payment tool, it needs a process to be adopted by people. Actually, Bitcoin adoption for payment purposes has shown impressive progress, you can see varied companies that accept Bitcoin as the payment tool for their products/services here: https://99bitcoins.com/bitcoin/who-accepts/. If it has no progress in our country, it is because our government only allows our national currency as a legal currency in our country. So, no hope for any other currencies to use, including BTC or dollars.

The bitcoin journey that started 40 years ago gives us proof that the Bitcoin technology being developed is not just an ordinary digital currency, but has many benefits for now and in the future.

Indeed. Some people developed it because of a strong reason. It should be caused by a big advantage of Bitcoin in the future.


OP @borovichok, where do you get the picture? Why you didn't enclose the link?

[BitDane]

Currently looking at the facts that are happening, Bitcoin is indeed only a speculative asset, which is an asset that is used to get a lot of profit in the form of investment because of the high volatility of bitcoin. People are still not fully using Bitcoin for payment for goods and services due to regulatory issues that are not fully operational in some countries.

No. You can't conclude that Bitcoin is only a speculative digital asset when there are already some people who really use it for payment purposes in reality.

It is still considered a speculative asset because the market is fully driven by speculation.  That is the reason why Bitcoin is labeled like that, IMO.  Most people buy Bitcoin not because they will use it to transact  but because people speculates that buying Bitcoin will give them profit in the long run.

We can't expect all people suddenly use Bitcoin as a payment tool, it needs a process to be adopted by people. Actually, Bitcoin adoption for payment purposes has shown impressive progress, you can see varied companies that accept Bitcoin as the payment tool for their products/services here: https://99bitcoins.com/bitcoin/who-accepts/. If it has no progress in our country, it is because our government only allows our national currency as a legal currency in our country. So, no hope for any other currencies to use, including BTC or dollars.

Indeed Bitcoin development as mode of payment has a good progress but still the majority of people buying Bitcoin is to get profit and not to use as payment.  It would probably go up to another level if Bitcoin will be accepted in almost every local marketplace.  That time, I am convinced that Bitcoin isn't a speculative asset anymore.

[taufik123]

No. You can't conclude that Bitcoin is only a speculative digital asset when there are already some people who really use it for payment purposes in reality.

It is still considered a speculative asset because the market is fully driven by speculation.  That is the reason why Bitcoin is labeled like that, IMO.  Most people buy Bitcoin not because they will use it to transact  but because people speculates that buying Bitcoin will give them profit in the long run.

This is what I mean. Concerning the use of bitcoin with the sole purpose of being a speculative asset is more often done than buying it for use as a legal means of payment. Some people do use it as a payment destination, but the number is still very small and it also collides because regulatory issues in each country are different. Currently, bitcoin is more dominantly said to be a speculative asset because it is only used as a commodity asset. Maybe in the future bitcoin will completely get rid of that speculative mindset.

[Findingnemo]

We can never say this is the end because technology keeps evolving and we are now living in a world that people from past generation never imagined so who knows bitcoin maybe replaced or we don't even need to use the money anymore or one world one currency conspiracy and a lot more.

The journey began few decades back and in 90s researches successfully developed the blockchain technology but it took another 20 more years for someone to utilize it in a way which makes the life of people better in this centralized world.

[DapanasFruit]

While I am aware that Bitcoin has a pre-history or previous attempts of the same nature am not aware that it took 40 years for this movement to come into fruition as it is now. Yes, I agree that Bitcoin is still so young and is just starting its big journey into the mainstream of our population and that the setbacks it experienced in the past years can be the foundation for the big growth it is destined to have. Obviously, this is a big dream and nobody can guarantee what can be in the future but we have the power in our hands to unite with this empowering movement and somehow change the course of history into the future.