Was Bitcoin project a failure after all ?

[foggyb]

Without a doubt, Bitcoin is immensely popular and enjoys widespread adoption, which seems to be an indicator of growing success. However, this space still struggles to overcome technical challenges and social criticisms. Probably the most important critical view is of its lack of regulation and inherent volatility. Critics argue that makes bitcoin a poor choice for use as a currency, while others point to the numerous hacks and security breaches that have plagued this tech. Another serious negative aspect is the energy-intensive mining process which is oft criticized for its environmental impact. However, bitcoin remains a popular and valuable asset, with many people still believing in its potential to revolutionize the global financial system.

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[CryptoHeadlineNews]

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 ?"

So in what angle do you think Bitcoin has failed from what Satoshi initially meant for it? Is it in terms of adoption, security, price or what actually? Because we were made to understand that the vision of Bitcoin was to create a world where we all have total control over our funds through the help of decentralized Blockchain technology, of which central banks nor government have no control over it. Because Bitcoin has always been the same till date, of which I'm sure wherever Satoshi is today, he will be proud of how far his project has gone so far.

[Iranus]

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 ?"

As for me, the disappearance of Satoshi Nakatomo was a good development, who knows what could have meted to him if he was still a public man? And Yes, it's been 12 years already, yet his disappearance has never affected the project in any way. On the other hand, it helps to prove that Bitcoin is totally decentralized, and this is because the creator gives everyone a sense of belonging without interference.

But I won't agree with him for calling it a "pure" world while he capped the coin at 21 million BTC. With time, it would not be enough for the people adopting it.

I think so too, I really don't know what bitcoin would be like if Satoshi didn't disappear and become known as other founders, he made an excellent decision for both himself and bitcoin.

But I disagree with you saying 21 million bitcoins won't be enough for everyone, we don't need to own the full 1 bitcoin, we also have satoshi. Second, the supply cap will make bitcoin so scarce, and hence its value is higher than all other conventional assets. If bitcoin has a larger or infinite supply then it is no different from fiat.

[Asiska02]

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 been successful since its inception up to the time when Satoshi left online. You must have witnessed the evolution of bitcoin in the 12 years since its founder went offline. Even though it is volatile, the price has risen dramatically since then. Its security cannot be breached, making it the best decentralized cryptocurrency ever. Even Satoshi will be proud of his innovation today.

[landheer]

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 been successful since its inception up to the time when Satoshi left online. You must have witnessed the evolution of bitcoin in the 12 years since its founder went offline. Even though it is volatile, the price has risen dramatically since then. Its security cannot be breached, making it the best decentralized cryptocurrency ever. Even Satoshi will be proud of his innovation today.

yes, it is. bitcoin is a very successful project, because everyone must have seen the achievements achieved by bitcoin. Moreover, judging from the price of bitcoin in 2009, of course, it is very cheap, because the price is around 1 dollar. when compared with Now, the price is very far away since bitcoin was published in 2009, so bitcoin is a successful project.

[BinarySumo]

If you look at the trajectory of Bitcoin, then it has done fairly well since the last 12 years. In fact, Bitcoin has been quite successful. It has a large community of people who believe in it. And it is certainly not losing ground. Yes, the current situation is tough but increased growth in Bitcoin’s adoption is indicating a bright future . Moreover,  what has made it through without any hurdles?

[James_Davi]

No, Bitcoin was not a failure. In fact, it has been quite successful in terms of its original goal of becoming a digital currency that is used for online transactions. However, the recent price volatility has made it less useful as a currency for everyday transactions, and has thus caused some to label it as a failure.

[Smartprofit]

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 ?"

Satoshi Nakamoto saw the creation of Bitcoin as the beginning of an evolutionary process. 

However, he was not sure that this project would be successful.  He wrote that in many years the Bitcoin blockchain will either have many transactions or not a single transaction.  Now we see that there are a lot of transactions in the Bitcoin blockchain (some of them are made by us). 

Bitcoin is evolving.  Its code is constantly being improved. 

Alternative cryptocurrencies, DeFi, NFTs, tokens, stablecoins, CBDCs, etc. have appeared.  Bitcoin has changed the world!

[gabbie2010]

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 ?"

Twelve years ago, each bitcoin cost less than 1 dollar, and until now, each bitcoin has cost 17k. How can you doubt and say it is a failure?
If you bought bitcoin for $69k and now your assets are losing 80%, then it's your failure, not bitcoin's failure. If you haven't sold your bitcoin you still have a chance to succeed with bitcoin hold it don't sell till profit.

Within the span of twelve years Bitcoin was created a lot of  fortunes particularly for early investors that earned massive profits after selling all or part of their assets infact some of those investors became millionnaires especially those who sold at ATH at $65K this is one of the first success of Bitcoin, Moreso Bitcoin had created thousands of jobs via trading, programming and other lots of Bitcoin related jobs this is another remarkable success of Bitcoin, furthermore a lot of institutions had adopted Bitcoin has alternative payment for goods and services and Bitcoin being used as a store of value is an added advantage.

[arwin100]

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 ?"

Twelve years ago, each bitcoin cost less than 1 dollar, and until now, each bitcoin has cost 17k. How can you doubt and say it is a failure?
If you bought bitcoin for $69k and now your assets are losing 80%, then it's your failure, not bitcoin's failure. If you haven't sold your bitcoin you still have a chance to succeed with bitcoin hold it don't sell till profit.

Within the span of twelve years Bitcoin was created a lot of  fortunes particularly for early investors that earned massive profits after selling all or part of their assets infact some of those investors became millionnaires especially those who sold at ATH at $65K this is one of the first success of Bitcoin, Moreso Bitcoin had created thousands of jobs via trading, programming and other lots of Bitcoin related jobs this is another remarkable success of Bitcoin, furthermore a lot of institutions had adopted Bitcoin has alternative payment for goods and services and Bitcoin being used as a store of value is an added advantage.

Not only with early adopter but as well with people who came when the price is at the peak since they can still earn with on by the opportunities what bitcoin industry can offer. There's no discrimination here since as long as you are skilled and can able to provide a quality job to your client or you are skilled as a trader you can earn a lot compare working a 9-5 job. So from this we cannot call bitcoin as a failure since it creates a lot of opportunities.

[CryptSafe]

If bitcoin was a failure do you think this platform would have been existing? Maybe we all would not have been here. We would not have had this opportunity to meet each other here. There would not have been anything called blockchain by now if bitcoin really failed because to the best of my knowledge, bitcoin was the first blockchain Genesis.
The steady increase in price indicates the growth. The increase in Adoption shows how successful it is. The acceptance as a legal tender shows how precious it is hence tagged as a digital gold. Bitcoin is not a failure and can never be a failure. Maybe you have failed on your path thinking it would fail but you forgot it already created a niche for itself and therefore, remains the freedom of the unbaked.

[Maidak]

I can't tell you that bitcoin could rise much more, but given its current price and popularity, I can assure you it's not a failed project. Failure is when the price of bitcoin goes to zero, when people no longer need and use bitcoin, that is called failure. Because a slight drop and we consider it a failure, that is not true, no asset can increase in value forever, even gold has volatility but their volatility is negligible.

[QueenVera]

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 ?"

From what I have read, Satoshi wanted Bitcoin to develop to be a currency but because of the positive features Bitcoin has, like it having limited supply and back by mathematics, it was inevitable that Bitcoin will be a store of value more than a means of exchange. I wouldn't say Bitcoin has left its initial focus because we can see the community fighting for adoption daily.
Bitcoin could only use its benefit as a store of value to get attention and as that has been successful it can now try to get the world to start using it as a means of exchange.
Bitcoin is still very young and has a lot of years ahead to achieve all the initial ideology set by Satoshi, we just have to take it one step at a time and not try to force anything or we'll lose everything.

[Blawpaw]

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 ?"

Well... Im struggling to understand why you say Bitcoin is a failure. Ok, so today, Botcoin development has part itself from what Satoshi has intended, buy this happened becuase it simply had to happen. In 13 years, Bitcoin has gained traction and its price went far beyond what many expeted to see before 2030. It is still decentralized and its price skyrocket comparing to its price 10 years ago. It still fulfills ots purpose of giving financial freedom to the world, so why the hell would you say it is a failure?

[Smartprofit]

I can't tell you that bitcoin could rise much more, but given its current price and popularity, I can assure you it's not a failed project. Failure is when the price of bitcoin goes to zero, when people no longer need and use bitcoin, that is called failure. Because a slight drop and we consider it a failure, that is not true, no asset can increase in value forever, even gold has volatility but their volatility is negligible.

We are currently seeing the collapse of the concept of globalism. 

Isolated economic zones are beginning to form in the world.  Humanity is entering an era of separation.  For example, in China, the local Internet is isolated from the global Internet.  The Chinese don't use Google or watch Youtube.  However, even in the era of disengagement, Humanity needs a global decentralized financial system.  Despite separation and isolation, people in different countries continue to interact with each other. 

That is why the Bitcoin project is successful and will continue to develop in the future.

[Chrlie95]

It's not accurate to say that Bitcoin is a failure. It has had its ups and downs, but it has also gained a lot of adoption and inspired the development of many applications and services.

The technology behind it, the blockchain, has the potential to change how we transact and exchange value in a secure and transparent way. It's still a relatively new technology and it's too early to say whether it will ultimately be a success or a failure. 

[South Park]

It's not accurate to say that Bitcoin is a failure. It has had its ups and downs, but it has also gained a lot of adoption and inspired the development of many applications and services.

The technology behind it, the blockchain, has the potential to change how we transact and exchange value in a secure and transparent way. It's still a relatively new technology and it's too early to say whether it will ultimately be a success or a failure. 

People do not really view things on historical terms, technologies take a lot of time to be adopted and developed, cellphones took decades to be adopted but now they are everywhere, nuclear fusion technology that is now all over the news will take decades to develop and then decades to be adopted as well, this is nothing really new and this is simply the way things work, but somehow just because bitcoin did not got adopted immediately it is somehow a failure, a notion which is ridiculous.

[Memorabilia]

Not at all. Bitcoin was the greatest success. It was revolutionary, a breakthrough in the finance system. But I’m not sure about the meme coins.

[Marykeller]

One can only conclude that bitcoin is a failure when it fails to achieve its original goals.

Since its inception in 2009, bitcoin has aided in bringing about financial freedom for all people. Its price has increased significantly, its adoption is booming globally, it is used as a store of value, and its decentralized peer-to-peer payment system is simple to use.

In all of these, Bitcoin is regarded as the greatest project to have ever been created.

[Inwestour]

One can only conclude that bitcoin is a failure when it fails to achieve its original goals.

Since its inception in 2009, bitcoin has aided in bringing about financial freedom for all people. Its price has increased significantly, its adoption is booming globally, it is used as a store of value, and its decentralized peer-to-peer payment system is simple to use.

In all of these, Bitcoin is regarded as the greatest project to have ever been created.

Yep, bitcoin gave financial freedom to everyone who bought it and hold it for a long time, for everyone else it is just a missed opportunity if they knew about it but did not buy, or did not even know that it was possible to buy it, or were afraid to do so.

It is now that people buy bitcoin more willingly and have greater confidence, before everything was much more complicated. And those who believed in bitcoin deservedly achieved financial freedom. Perhaps we will not see such a big increase again and bitcoin will grow slowly, doubling each cycle from the previous ATH, it will still be able to bring good profits and there will be those who will take advantage of this opportunity, and there will be those who will miss it again.