Was Bitcoin project a failure after all ?

[GideonGono]

Just the fact that it is still being used and it still have a value is enough to prove that it wasn't a failure.
We all have different opinion when it comes to success so for me this project was a huge success even though it isn't being used as a currency, we couldn't change the fact that people would tend to use it as an investment tool rather than using it to pay for things that they could with Fiat.

[BITCOIN4X]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

I remember something satoshi have to say and it was at least like "in the next 10 or 20 years bitcoin will have a large volume of transactions or none at all". This means that satoshi has indeed predicted that the success of bitcoin as we feel today is very possible to achieve. Bitcoin is in great demand due to its use as a decentralized currency and trading asset and will continue to increase.

Bitcoin adoption has increased and we all know that it will continue to increase. People need convenience in transactions and they expect more security and speed and lower fee. Bitcoin offers that to users where it is a real advantage of bitcoin over fiat. Finally I can say bitcoin and satoshi have been a huge success and will be in the long term.

[hatshepsut93]

Satoshi didn't describe how he sees Bitcoin future in detail. Satoshi described Bitcoin's mission as decentralized peer-to-peer currency. Bitcoin is still decentralized and peer-to-peer, free from censorship and trusted third parties. But as for currency, we indeed can see that it's not Bitcoin's main use. Maybe when Saotshi released Bitcoin, it seemed that the world is about to get rid of banks and embrace a system that can't have disasters like the 2008 economic crisis. But time has shown that people quickly forgot about their concerns and have no reasons to be worried as long as everything works here and now. Basically, people are not motivated to adopt Bitcoin as a currency, the drawbacks of Bitcoin are stronger than its benefits to most.

[mindrust]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

First of all, satoshi wasn't a god or a prophet. The world is far bigger than him and whatever vision he had for the future. At this point, what he thought, what he wanted don't mean anything because he has not been around for a long time. Maybe bitcoin would be in a better shape if he was still around. We can't know that. However, there is also a possibility that him being around would damage bitcoin a lot and I think he knew about it. That's why he disappeared probably.

[Viscore]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

I don’t see it as a failure project. In fact, the government is triggered by its own existence so it only means that bitcoin is now close to its goal as being legally accepted nationwide. Seeing bitcoin as an investment, it’s starting to be a trend these days since people find more profits in bitcoin compared to fiat. And as a mode of payment, I know bigger countries are now eyeing at it to be accepted as a legal currency, although I still don’t see it becoming a legal tender these days except for El Salvador.

[Ojima-ojo]

Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?

Do you maybe want to tell us what you think he originally set out to do, back it up with some quotes, and how it became different than that?

And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

I think that in ~13 years Bitcoin achieved way more than anyone (including Satoshi) thought its possible in such a short amount of time. You have to be completely unrealistic and naive to think that in such a short period of time Bitcoin can replace fiat. And even if that never happens (which is unlikely anyway) it will have its use.

13 years span is still a few years and Bitcoin have been the most successful project of this century to have reached we're it is today, when you talk about price, bitcoin have made an all-time high of $69k+ previously and there is every likelihood that Bitcoin will surpass that price in the next couple of weeks ahead but not certain the timing.

And when you talk about adoption, bitcoin has been recognized as a national currency in a few countries already and if given another 13 years from now, Bitcoin would have become a mainstream global currency.

[Victorik]

Although I only joined late in 2017, but I don't want to believe that Bitcoin is a failure, considering what has been achieved since 2010.
Truth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.

[JoyMarsha]

It has been 12 years since Satoshi disappeared on December 12, 2010.

Yes, i dont see anything bad in that. Since is Satoshi choice of staying anonymous.

Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?

What specifically is unusual about it? The motivation behind bitcoin's creation is still the same, and it hasn't deviated away from its original goal of promoting financial independence.

And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Currently, bitcoin is not in a particularly horrible state. The moment has come to stockpile more and wait patiently. Investing in bitcoin is a long-term investment; contrary to popular belief, it is not a quick-money scheme. As Satoshi intended, bitcoin will eventually gain widespread acceptance.

[akuntester1]

I can't say that Bitcoin failed. I haven't seen that Bitcoin fail until recently.
What I see is the failure of its users.
As a result of implementing the wrong strategy to manage its assets, due to fraud and hacking that occurred.

Bitcoin for almost 13 years has shown its existence and its value continues to grow.
Even though the value is very fluctuating, it continues to grow from year to year.
Nowadays more and more people are interested in Bitcoin.
Even though the value of Bitcoin can be predicted, actually nothing can guarantee the future of Bitcoin.
But until now there are still many people who rely on and believe in Bitcoin.
I think that's a good thing, that way Bitcoin will continue to grow.

[darkangel11]

What is it that you don't like about bitcoin?

The fact that Satoshi left it for us to shape means bitcoin is now exactly as it should be. The community creates bitcoin and makes it become popular and bitcoin is a representation of the will of the people. Satoshi created it but it allowed us to change the protocol. If the community wanted to fork the chain and choose the fork over original, we wouldn't be using bitcoin now but maybe BSV or BCH. Is that what you'd prefer OP? I wouldn't.

[Ebede]

Santoshi live bitcoin immediately the creation and the introduction of Bitcoin satoshi create Bitcoin then it is not up to a year it left bitcoin so calculate from the Year bitcoin was created or introduced on the Earth and now is the year that she left bitcoin so they can collection is very fair and the pathway to understand the time satoshi left Bitcoin

[justdimin]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

People like you are overreacting as always. I keep saying this all the time and I am sick and tired of it. Bitcoin is not what you want it to be, or what someone aimed to be, bitcoin is how we use it, and whatever way we all see it fit, then that is the way.

If you want it to be a currency and everyone uses it as investment, then it is an investment and not a currency, if you want to invest but it is a currency then it is a currency. I personally find it amazing and that's enough for me, just be "amazing" and that's it. It's clear that not many people see it that way and want it to do what they want it to do and that's not going to be the case.

[Smartvirus]

The bitcoin network has been doing great and still is doing great. Its always a bumpy ride with revolutions and bitcoin has been more of that to our today society and world government. Government operates a centralized system, bitcoin is rather against that being centralized and citizens of the world depends on the government for safety of life, property and finance. Its hard for people to believe without government support but gradually, we are getting there.

The currency has found its own part to convincing people as a better alternative to fiat currency and with its limited supply, an increase in value is one way to be satisfactory for the world population. The bitcoin technology haven't failed, its just getting better.

[Ebede]

Although I only joined late in 2017, but I don't want to believe that Bitcoin is a failure, considering what has been achieved since 2010.
Truth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.

People who does not or who did not come into Bitcoin in 2017 will be the people that to get afraid of Bitcoin because of it falling massively is here so in 2017 bitcoin rise and also fall so that is giving me the hope and the strength that bitcoin will recover even though it for to the endpoint so one day it will still rise and increase above the point that people expected

[Newlifebtc]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Bitcoin has not filed after satoshi created bitcoin and disappear so what I'm trying to analyse from my own understanding of Bitcoin is that this guy still have a long way because it is a technology that deals with the development that it is built with it we'll have a long way if I'm not fair except it have a computer or someone create something that is applicable with bitcoin from my own understanding

[Fatunad]

Since you are talking about the software and not the market capitalization, then let's take a look to that side of the Crypto. Here is the list of the Releases:

It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.

For technical side of things then this would really be a good show up on how far it was developed and op should really be realizing this one and consider rather than on seeing or checking on capitalization alone.
If it was a failed project then we wont really be seeing that it would really be having a value.It wont be sitting #1 in ranking in overall market against with those Altcoins.
It does really serve its purpose or on what Satoshi had envisioned.If op does see this as a failed project then i dont know on what criteria or things does
he/she really wants to see and prove it out that he/she was wrong.

[Vaskiy]

Since you are talking about the software and not the market capitalization, then let's take a look to that side of the Crypto. Here is the list of the Releases:

It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.

For technical side of things then this would really be a good show up on how far it was developed and op should really be realizing this one and consider rather than on seeing or checking on capitalization alone.
If it was a failed project then we wont really be seeing that it would really be having a value.It wont be sitting #1 in ranking in overall market against with those Altcoins.
It does really serve its purpose or on what Satoshi had envisioned.If op does see this as a failed project then i dont know on what criteria or things does
he/she really wants to see and prove it out that he/she was wrong.

We could've never seen big number of altcoins existing following the footprints of bitcoin, it it had turned to be a failure project. Satoshi aimed of removing the intermediary and succeeded in it. He wants to fulfill what is being lacked in the traditional fiat. If people wants the good out of cryptocurrency, they can use it. If not, just ignore. This is how the market have widened. Now it have attained specific position and later it'll serve as the alternate to the fiat system, as countries have begun to adopt it legal tender.

[Rruchi man]

We will not still be having discussions about bitcoins if the project has failed. For the fact that the existence of this forum remains, bitcoin has not failed.

Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?

we can agree that the scope of usage of bitcoins from satoshi back then was limited, the project is both serving the function it was started and also developed other extensive benefits. Wherever Satoshi is, he will not think his project as a failure, but be very proud about the achievements.

[Finestream]

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

For bitcoin enthusiasts, of course it’s a clear successful  project that has been paving its way to more great achievement in the future. But for bitcoin opposition, they will never see bitcoin as a potential project so most probably it won’t be successful enough for them. I guess the ability how to rate a project is based on individual’s set of standards, the way people see if there are great potentials or not.

[serjent05]

@OP I don't know what is your understanding of the whitepaper of Bitcoin but as far as I understand what is written on the abstract of the white paper, its function as a p2p electronic transfer without the need to trust the financial institution is still in effect today.  There may be centralized exchanges that take advantage of Bitcoin trades but the vision of Bitcoin being frictionless, borderless cheaper transfers is still intact. Bitcoin is successful in maintaining those features.