The future of Bitcoin

[xanto]

Hello all,my friends. I think it's time to hear the opinion of the whole forum on this topic. Look what way bitcoin has gone from the beginning of its creation and to the present time. It has gone through everything: the fall, the rise, the hype, the huge theft, disappearing exchanges. But it still holds on and lives. And it holds on you and me as well. And it will live on.
I started reading this forum, when I was a student, and I read Satoshi's last post, but I decided to invest only some years later.
It's a great tool that gives you freedom, and everybody needs it.
But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.
Bitcoin should be a tool of freedom and no state should control it.
They want to tax it and they want to control everything and they won't allow money to flow out of their economy.
It pains me that this is coming, but no one can do anything about it.
So I want to ask your opinion.

What do you think will be the fate of bitcoin in the future?

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[BlackHatCoiner]

In my opinion, this contradicts all the principles that Satoshi promoted.

Absolutely. That's why you should avoid centralized exchanges, and exchange decentrally. It's cheaper, more private, and requires less effort during registration. Downsides are that there's less liquidity, and financial institutions such as Revolut might subject you to money laundering if you're transacting with strangers electronically for big amounts. Exchanging face-to-face unfortunately isn't a realistic option.

[pooya87]

You are confusing bitcoin with centralized services that use bitcoin.

It has gone through [...] the huge theft

Bitcoin has never gone through any theft. Exchanges were hacked and they stole people's money but that has nothing to do with bitcoin.

and I read Satoshi's last post, but I decided to invest only some years later.

If you read Satoshi's posts more carefully you'd realize that bitcoin is not created for investment but instead as a currency.

But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.

Again this has nothing to do with bitcoin. It is all about exchanges and fiat (ie. banking system used by exchanges)

In my opinion, this contradicts all the principles that Satoshi promoted.

Not at all. Bitcoin wasn't created to change what centralized services do. It was created so that you have the option to not need the centralized services anymore. If some people decide to still use them, it is their fault not bitcoin's design.

[BlackHatCoiner]

In my opinion, this contradicts all the principles that Satoshi promoted.

Not at all. Bitcoin wasn't created to change what centralized services do. It was created so that you have the option to not need the centralized services anymore. If some people decide to still use them, it is their fault not bitcoin's design.

I guess he means that using bitcoin in a centralized manner isn't acceded according to the principles.

[Edwardard]

That's why you should avoid centralized exchanges, and exchange decentrally. It's cheaper, more private, and requires less effort during registration

Do you know about the transaction fee charged on  decentralized exchanges like uniswap for swapping erc-20 tokens during the previous bull market? Because, if you do, you surely wouldnt call it cheaper. Instead, cex like binance is coming up with offers like "zero spot fee trading". So you decide who is more cheaper.
Moreover, cexes are more user friendly than dex (the orderbooks, the flow, etc. etc..). Whatever we say but reality is dex still got a lot of work to do to compete.. [Im not against it though]

[rby]

Bitcoin has passed through all the necessary procedures that every new technology would you need to pass through.
The only thing that bitcoin did not utilise very well is the hype you e said about  I can say that bitcoin was not hyped, assuming bitcoin was hyped, it would have exceeded what we see today as adopted.
Bitcoin is more than what everyone see it to be especially the ordinary people that does not have the idea of Bitcoin.

It's a great tool that gives you freedom, and everybody needs it.
But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.
Bitcoin should be a tool of freedom and no state should control it.

There  is not one depriving you the freedom bitcoin gave you. If you begin to detect for people how to use bitcoin, you are the one limiting their freedom.

[pooya87]

~
I guess he means that using bitcoin in a centralized manner isn't acceded according to the principles.

The principle is about freedom, which means in order to acquire bitcoin or use bitcoin in any way you don't have to use centralized services including exchanges but you are free to use them or use bitcoin in any centralized manner if you choose.

[The Cryptovator]

Consider how a decentralized cryptocurrency like Bitcoin would perform better in the absence of marketing. Because Satoshi simply created and disappeared after configuring everything. There is no one working behind the scenes from the team for Bitcoin adaptation. Many dramas have been made, and many more will be accomplished in the future. However, Bitcoin is still alive and will continue to exist. I'm not sure if another form or current forms should be used. Bitcoin gained popularity as a result of its decentralization, which allows each holder freedom.

[MainIbem]

My reply goes directly to about exchange, for exchangers to source for your data I would term it from you putting your fund into Centralized exchange which after or before withdrawal they would ask your details for proof of ownership. But if in a case you didn't store your bitcoin on exchange then I don't think any exchange would asked for kyc or data, which is why it's best advisable to store your assets in a self custodian wallet which you may want to have control over instead of exchange. If per say you wanna sell then I can say you could used p2p from trusted, reputable p2p forum provider with them no kyc is needed.

[blockman]

There's no doubt that the future of bitcoin is great but with the intervention of companies, exchanges, and the government, they're doing things that are against the principle of bitcoin.
We can't do anything with that but hopefully, someday, we won't be relying on these exchanges to have our bitcoins exchanged into another currency that we have. Without having the need to comply with the KYC and stuff. Because that's what we don't like with these exchanges.

[Gallar]

What do you think will be the fate of bitcoin in the future?

what is certain is that bitcoin will be more advanced than now, maybe people who didn't like bitcoin before, might start to like bitcoin.
because in the future technology will be more sophisticated, surely everyone in the future will understand more about technology, for example now children have been introduced to cellphones, different from people before, who knew cellphones when they were adults, even a little old.
so that way it is certain, in the future there will be no one who does not know technology, because even from a young age they have been introduced to technology.
and that way, it will definitely have a high impact on the progress of crypto/bitcoin assets.

[Aanuoluwatofunmi]

Look what way bitcoin has gone from the beginning of its creation and to the present time. It has gone through everything: the fall, the rise, the hype, the huge theft, disappearing exchanges.

Bitcoin havn't gone through everything yet, it's just the norms you should expect as with any other currency and talking about centralized exchanges, that's less concerned about bitcoin because bitcoin is meant to be in the wallet that could present us with the keys to access them on the blockchain.

But it still holds on and lives. And it holds on you and me as well. And it will live on.

Bitcoin isn't like other cryptocurrencies that some may fail along the line as they were meant to present fake and unrealistic projects through crypto, only bitcoin has come to stay in serving this long term purpose.

But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.

Satoshi does not made mention of using any centralized exchanges when introducing bitcoin, he only stayed about having bitcoin on the wallet, which is the best way everyone can have his asset decentralized and secured from third party rendering you with the keys or running a full node transaction.

What do you think will be the fate of bitcoin in the future?

Hyperbitcoinization

[Husires]

No one can control your Bitcoins and how to spend it or use it if you know how to manage a full node, download an open source wallet, and broadcast the transaction via Tor.

You can buy bitcoin anonymously using:

• Buy gift cards with cash and sell them here or any online forum.
• Cash trading in safe place, hide your face with a mask and glasses.
• Offer online services,
• P2P trading using Bisq.
• Offer digital services like translation, coding,..etc/

[Baofeng]

Hello all,my friends. I think it's time to hear the opinion of the whole forum on this topic. Look what way bitcoin has gone from the beginning of its creation and to the present time. It has gone through everything: the fall, the rise, the hype, the huge theft, disappearing exchanges. But it still holds on and lives. And it holds on you and me as well. And it will live on.
I started reading this forum, when I was a student, and I read Satoshi's last post, but I decided to invest only some years later.
It's a great tool that gives you freedom, and everybody needs it.
But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.
Bitcoin should be a tool of freedom and no state should control it.
They want to tax it and they want to control everything and they won't allow money to flow out of their economy.
It pains me that this is coming, but no one can do anything about it.
So I want to ask your opinion.

What do you think will be the fate of bitcoin in the future?

I think what you are describing is privacy or anonymity?

Because exchanges are now asking everyone for KYC? like passport photo and other key documents?

It's easy though, if you don't want to do that then used:

https://bisq.network/

But as far as the future of bitcoin is, we are still good, although this is a challenge for everyone, I think we can embrace it. But as I have said, if you don't feel comfortable with it then use DEX.

[Apocollapse]

Although in the current society, government want to control everything including every privacy of each person, but you can still hide it using Bitcoin. Of course it doesn't mean when you use Bitcoin, you can stay anonymous, because there's many requirement that you need to do. Just like learn basic privacy concern to not upload anything about your personal identity to public, using Bisq to trade Bitcoin, using mixer to mix your coins, set your own cold storage etc.

[Tony116]

That's why you should avoid centralized exchanges, and exchange decentrally. It's cheaper, more private, and requires less effort during registration

Do you know about the transaction fee charged on  decentralized exchanges like uniswap for swapping erc-20 tokens during the previous bull market? Because, if you do, you surely wouldnt call it cheaper. Instead, cex like binance is coming up with offers like "zero spot fee trading". So you decide who is more cheaper.
Moreover, cexes are more user friendly than dex (the orderbooks, the flow, etc. etc..). Whatever we say but reality is dex still got a lot of work to do to compete.. [Im not against it though]

This may sound harsh, but it is true, CEX is much more convenient than DEX and the market would be tough to develop without CEX. It can be said that CEX provides all the necessary services and utilities so that we can use them conveniently and also make a profit in this market. Most newbies will look to CEX instead of DEX, DEX for them is pretty complicated and not user-friendly as well as transaction fees are very high and this is what investors complain about the most. We can only hope that the DEX will improve and upgrade in the future to provide us with better options soon.

[inthelongrun]

You can still use bitcoin without any interference from private corporations and governments. There are some places where you can buy goods with it. You can use P2P and decentralized exchanges. That's still freedom.

Now if we are talking about living using bitcoin alone, it won't be that easy. Let's hope that all our necessities will be soon available by just using bitcoin.

Although I hate this because I came from a very corrupt nation but generally, governments cannot survive without tax. And some business entities might also prefer regulated currencies. Bitcoin will continue to become more valuable in the years to come but there will be more regulations from governments.

[Z-tight]

BTC users decide for themselves how they want to trade and use their BTC, either they want to lose their privacy in the process and never get it back, or trade decentrally and keep their privacy while using BTC in the proper way. Only centralized services require personal information about you such as your passport before you can use them, if you do not want a company holding such information about you then do not use them.

Banks work just like these crypto centralized services, because they are centralized themselves, and each and everyone of us uses a bank because we just have to, so using BTC in the same way as our banking service makes no sense, one should want to use BTC because they love the pseudonymity and privacy in it: it makes sense that your banks can probably censor you, but your funds in crypto can't be censored because you are fully private and decentralized; but when you use stable coins or centralized exchanges it is all the same thing.

The problem BTC faces is just government trying to regulate it and their attack on the POW algorithm, and they surely know they will not be successful with that, they just use this propaganda to hinder people from using BTC, but just for the short period.

[Zanab247]

Bitcoin will still remain digital currency in the future for people to continue admiring Bitcoin for not control by the government or politicians in the world, and is free for any government that want to adopt it for their country. There will still be pumping and dumping in the future to allow people to buy bitcoin and hold when the price is low in the market, and sell when the price increase in a way they will be satisfy with the market price at the moment.

[michellee]

As someone who wants to invest in crypto or bitcoin, you may choose whether to buy bitcoin on a centralized or decentralized exchange. It's about how you can accept everything that's going on, including the government's control over exchanges and how you can find comfort in buying those bitcoins.

The government is indeed trying to impose taxes on exchanges because crypto has now become a business that has the potential to get big profits. Hence, this attracts the government's attention to get taxes from the crypto sector on exchange exchanges. This will continue but we also have a decentralized exchange that doesn't need our data to buy bitcoin so we can use it freely.