Bitcoin is "dying".

[Die_empty]

The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.

Some businesses accept bitcoin and they also have clients that pay with Bitcoin. I am aware of a businessman in my country that uses bitcoin for International trade. Almost all his imports from other countries are paid for using bitcoin. The major challenge that has limited the use of Bitcoin as a currency in my country is just unfavorable government policies.

I created a thread asking people what they think bitcoin will stabilize enough to become a currency for people to use and literally everyone said to me that it's an asset and it will never stabilize. And, don't get me wrong, sounds logical and I agree with that.
But if we treat Bitcoin like this, why are we waiting for the "mass adoption" and want businesses to accept Bitcoin that is not stable in any means to use it as a currency?

In the future bitcoin might become stable. People are making assumptions now based on the current happenings but we don't know what the future holds for bitcoin. As I said before one of the biggest impediments of mass adoption of bitcoin is government policies. In my country, many people will use Bitcoin as a currency if it becomes a legal medium of exchange. This is because banks charge high transaction fees and inflation is making our local currency lose value.

Another big problem is that everything in crypto spaces becomes centralized. Recently I tried to sell my crypto without KYC and I didn't find any good platforms to do it! Just think about it...nowadays you need to pass KYC to sell crypto without high fees. That's crazy.

Almost all platforms and even some wallets require your ID which is the opposite of anonymity. And because of that there are fewer and fewer platforms that offer you services without KYC and therefore because there are not many of them here they hike up their fees to the sky.

P2P is the best means of buying or selling bitcoin. But because these platforms don't offer their service in some countries people now rely on exchanges. Mass adoption will gradually push these exchanges out of business because P2p transactions will keep growing.

 

Add to that the fact that even wallets are not safe. Ledger literally offered people to save their seed phrase in the cloud. The mere fact that they CAN take your seed phrase and upload it somewhere is a reason to never use ledger anymore.

So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that Bitcoin ideas are dying.

We still have other safe decentralized wallets that can be used. The simple thing to do is to ditch Ledger and choose another safer wallet. These points you raised are not concrete grounds for you to conclude that bitcoin idea is dying because there are many positive things currently that will give you a glimpse that Bitcoin is trailblazing.

[pawanjain]

Even if bitcoin was created to be used as currency, it has now found a different purpose and there's nothing wrong it.
While it is mostly used as an asset these days it still has the capability of being used as a currency, although most people use it as a store of value.

There are many such things which were created to serve one purpose but ended up being used for different purposes.
Example: Viagra was created to treat cardiovascular conditions but ended up as a treatment for erectile dysfunction.
Another example: Baking soda was originally used for baking and cooking but is also used in things such as cleaning.
It doesn't mean bitcoin is dying but has found a new purpose.

[uneng]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

I spend a week on this forum talking with people about Bitcoin and asking their opinions in threads. And I came to the conclusion that the whole idea of Bitcoin is being killed in front of our eyes.

The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.

Well, all we can do as individuals is our part in our daily life. That is, to adopt Bitcoin as currency when receiving payments and asking about the possibility of paying with BTC when making purchases. You aren't going to change how other people use their Bitcoins, but you can start by changing the way you use it for yourself, while feeling proud and satisfacted about that.

Another big problem is that everything in crypto spaces becomes centralized. Recently I tried to sell my crypto without KYC and I didn't find any good platforms to do it! Just think about it...nowadays you need to pass KYC to sell crypto without high fees. That's crazy.

Almost all platforms and even some wallets require your ID which is the opposite of anonymity. And because of that there are fewer and fewer platforms that offer you services without KYC and therefore because there are not many of them here they hike up their fees to the sky.

Just go for P2P transactions... There must be a local service or individuals on your country offering this kind of concept.

Add to that the fact that even wallets are not safe. Ledger literally offered people to save their seed phrase in the cloud. The mere fact that they CAN take your seed phrase and upload it somewhere is a reason to never use ledger anymore.

You can use hardware wallets without being forced to save your secret words on the cloud. It's still pretty safe like before...

Bitcoin isn't dying. It's still the same. I'm fine with the fact it has changed almost nothing since its launchment in 2009. If you think about any other financial asset or currency, which of them have been kept close to its original principles and concepts for entire 14 years? I think there isn't any!

[michellee]

Yes, @OP. Bitcoins are dying. That's according to you but not for Bitcoin investors, especially for those who have joined Bitcoin since the first day or since the launch of this forum. They still hold onto their Bitcoins and believe this is just a cycle that has happened in Bitcoin many times.

And since its launch, Bitcoin has undergone many tests and has always passed well. If some people still don't believe in Bitcoin, maybe it's a selection process from Bitcoin for them and in the end, only people who believe in Bitcoin will benefit. Meanwhile, those who don't believe will only regret it.

And you will choose whether you will still believe in Bitcoin or lose your faith and decide to leave Bitcoin. It is your call.

[isaac_clarke22]

So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that bitcoin Ideas are dying.

It's to each and their own anyway, OP. It does not matter on how does a person handle his/her Bitcoin as s/he wishes. Some see Bitcoin as an investment and some as an decentralized currency. Not everyone likes mass adoption anyway since government would take action to it. It's either we have lesser access to Bitcoin or usage of crypto is strictly regulated.

And nah, crypto is not moving to centralization. You're just seeing the custodial or/and web wallets in the internet, but see that there are other ways to hold Bitcoin other than custodial wallets.

Bitcoin isn't dying, it is evolving and adapting, as you mention, the main idea about it and how it should work had changed a lot, but the fact that users are the owners of their coins is something that will never change unless you have your coins on a third party site. That's why we have the slogan "Not your keys not your coins"

And about the KYC I don't see a big deal about it, the government was in its right to do it because people were abusing the bitcoin technology with money laundering and drugs sells, but if you are not on an illicit activity then there is nothing to worry about.

KYC is an ass no matter how you look at it. It's extra hassle for people just wanting to move their Bitcoin around the blockchain but these crypto wallet services says otherwise. I encountered plenty of delays in my business deals just because of these KYC stuffs.

[Hamza2424]

Hmm I have seen some of your posts as well, and I d agree with your point of view I am also shocked how the narratives are destroying the community core and most of the people who support the new ideas on Bitcoin are destroying the base and core concept are New joiners. Most people even don't know that Bitcoin is a payment mode not an asset with the passage of time most people now think Bitcoin is just a store of value which I disagree with because it will affect the future potential. A store of value can be called one of the Milestones. Many Bitcoin development narratives came and gone but Bitcoin is standing.

A few Narratives are as follows which I think one of the most supported ones;

✱ Speculative Investment
✱ Alternative to Fiat Currencies / Destroyer / Nightmare to Fiat
✱ Financial Empowerment
✱ Bitcoin as a Store of Value

[cydrix]

Yes, there is a fundamental truth in what you say, but what you say occurs because, as always, man is greedy and has not thought about accepting Bitcoin to solve a problem but has welcomed it to line his pockets, despite the fact that the withepaper's first few lines express the idea of what Bitcoin is. However, it is not true that you have to do the KYC in order to exchange Bitcoin; instead, just understand what the true problem that Bitcoin solves or the peer to peer, and then why shouldn'  Do you truly want it, though? Really, do we want to trade digital scarcity for a sluggish limitless Fiat?  And once again, yeah, Ledger has made a mistake once more, but there are many more effective solutions. Don't be deterred by the users above; many businesses are here to achieve what Bitcoin was not designed to do: make money.

[The Cryptovator]

Your concern regarding Bitcoin is partially inaccurate. While it is true that Bitcoin is often treated as an investment asset and selling it without KYC can be challenging, it is important to recognize that the goal of Bitcoin is to facilitate peer-to-peer transactions without the need for intermediaries. Many individuals, including myself, have been utilizing Bitcoin as a payment method for various purposes. For instance, I have received payments for marketing-related jobs in Bitcoin, and numerous others have also been utilizing it in a similar manner. It appears that your perception of Bitcoin is skewed by viewing it solely as an investment asset. It is crucial to broaden your understanding and appreciate the broader potential of Bitcoin as a means of exchange.

[DiMarxist]

Bitcoin mainly attracted people because of the possibility of profit, and far less because they wanted to use it as a currency. Different ideas and concepts are coming up lately depicting crypto transactions of many currencies. That of Bitcoin is the most largely spoken of and this is undoubtedly due to its increase in global recognition and market value.Bitcoin is the most popular digital currency with various transactions occurring around the world every second it is of great importance for investors, traders and the bitcoin enthusiast to keep abreast with the daily events on the bitcoin network.

[Ojima-ojo]

Yes, @OP. Bitcoins are dying. That's according to you but not for Bitcoin investors, especially for those who have joined Bitcoin since the first day or since the launch of this forum. They still hold onto their Bitcoins and believe this is just a cycle that has happened in Bitcoin many times.

And since its launch, Bitcoin has undergone many tests and has always passed well. If some people still don't believe in Bitcoin, maybe it's a selection process from Bitcoin for them and in the end, only people who believe in Bitcoin will benefit. Meanwhile, those who don't believe will only regret it.

And you will choose whether you will still believe in Bitcoin or lose your faith and decide to leave Bitcoin. It is your call.

Nice reply to ops as he has misunderstood the whole concept of Bitcoin and the role of patient in Bitcoin usage and another thing he failed to understand is that bitcoin os a speculative currency and at that, BTC holders will always take noticed of it DCA value at every point of payment and that bring in the interest and value in play either the sender is caught g down the number of bits to be sent when the price increase or spending more bits when BTC DCA price is down and this is what is constantly at pay when using bitcoin as an alternative.

And on the contrary, those who are impatient could decide to spend more Bitcoin trying to use it as a means of payment when the price is down but then as a smart investor, one will need to put some things into consideration before deciding either to pay with bitcoin or use fiat for the payment depending on fees and nature of trasactions.

[ImThour]

I came to the conclusion that the whole idea of Bitcoin is being killed in front of our eyes.

No one even thinking about the future of Bitcoin as means of currency.

So, you start the thread by saying the whole idea of Bitcoin is being killed in front of your eyes and the reason is that no one even thinks that Bitcoin can be a means of currency meanwhile you yourself are saying that Bitcoin is dying. Such hypocrisy bud. You are no different than those people whom you are talking about in your beloved thread.

[Smartprofit]

Yes, bitcoin may not become a mass means of payment. 

This, in particular, is due to the very large number of competitors.  And the strongest competitor is CBDC.  As one very famous person said - "It is useless to fight the state, since it always has one cartridge more than you. The last shot will always be fired not by you, but by the state!" 

However, this means the death of Bitcoin.  Bitcoin has several major competitive advantages over all other currencies. 

Bitcoin is known to all people on planet Earth. 

Bitcoin is decentralized. 

The number of bitcoin coins is limited by the emission algorithm and will not change over time. 

As a result, Bitcoin is the first candidate for a global reserve currency.

[lalabotax]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.
. .. .
The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency.

I don't think so.
I saw several members posting about Bitcoin as a currency use case. If compared to previously, nowadays, many more people are speaking and using BTC as a currency, paying with Bitcoin, and also accepting Bitcoin as one of the payment.
But we are also aware that it is not easy to use Bitcoin as a currency, moreover because of laws and regulation in certain countries.
We are always expecting that Hopefully there are many more people who are using and accepting payment with Bitcoin.

[Quidat]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.
. .. .
The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency.

I don't think so.
I saw several members posting about Bitcoin as a currency use case. If compared to previously, nowadays, many more people are speaking and using BTC as a currency, paying with Bitcoin, and also accepting Bitcoin as one of the payment.
But we are also aware that it is not easy to use Bitcoin as a currency, moreover because of laws and regulation in certain countries.
We are always expecting that Hopefully there are many more people who are using and accepting payment with Bitcoin.

Actually it would really be always boiling down on how people would really be seeing and treating up their coins and its none of others business if they would be holding it up for long years to come and wont really be tending on selling it. Well, we do have our own choice to make and we do have the actions which we would really be needing to do so because we've seen its potential and those things that happened in the past. We cant really just ignore the fact that we cant really afford on losing up an other opportunity to make huge profits. In the real essence or in speaking about utility on which it would be normal that there are people who do make use out of that kind of perspective but cant really deny that it is really just that a waste if ever you would be actively spending it for that sole purpose.
When it comes to security, Ledger does only has it as of this moment but other known decentralized wallets are still that fine, there's no way on losing up your funds if you are really
just that mindful about your private keys to be stored on the right place.

[Doan9269]

As to this occurrence with ordinals on the bitcoin network, the solution to adopt can be as many as possible depending on individuals, some may put in for tracking the mempool size when less busy, some may diversify their investment, others may be able to afford the transaction fee since it is believed to have dropped down unlike before and lastly some may also diverted to the use of lightning network, but irregardless of the decision taken, the bitcoin network remains relevant as before.

[flyingcarpet]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

Bitcoin offers us a solution. It may not be very accurate to give examples from those who use it for different purposes. Of course, there are those who think as you say. However, there are also those who hold the opposite view. Would it be possible for Bitcoin to survive without such people? I don't think Bitcoin ideas will ever disappear.

[Fivestar4everMVP]

Bitcoin is not in any way dying, and yes, I agree that bitcoin is more of an asset than it is a currency we can use for our daily transactions, but being an asset still does not stop businesses willing to accept it as a form of payment from accepting it, in my locality here, there are several businesses accepting payments with Bitcoin, so to be sincere, I don't know where or how you came up with this idea that bitcoin is dying , one thing you must know is that, if bitcoin was to maintain its initial idea of being a currency for daily transaction, by now, it wouldnt be worth over $20k that it is currently worth, so this is to tell you that bitcoin being an asset has indeed, done it more good than harm.

I tell you that, the day bitcoin becomes stable like fiat, many will never bitcoin and never buy it again, because majority are in this for the profit, and not for as a currency for day to day transactions.

[panganib999]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

I spend a week on this forum talking with people about Bitcoin and asking their opinions in threads. And I came to the conclusion that the whole idea of Bitcoin is being killed in front of our eyes.

The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.

I created a thread asking people what they think bitcoin will stabilize enough to become a currency for people to use and literally everyone said to me that it's an asset and it will never stabilize. And, don't get me wrong, sounds logical and I agree with that.
But if we treat Bitcoin like this, why are we waiting for the "mass adoption" and want businesses to accept Bitcoin that is not stable in any means to use it as a currency?

Another big problem is that everything in crypto spaces becomes centralized. Recently I tried to sell my crypto without KYC and I didn't find any good platforms to do it! Just think about it...nowadays you need to pass KYC to sell crypto without high fees. That's crazy.

Almost all platforms and even some wallets require your ID which is the opposite of anonymity. And because of that there are fewer and fewer platforms that offer you services without KYC and therefore because there are not many of them here they hike up their fees to the sky.

 Add to that the fact that even wallets are not safe. Ledger literally offered people to save their seed phrase in the cloud. The mere fact that they CAN take your seed phrase and upload it somewhere is a reason to never use ledger anymore.

So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that bitcoin Ideas are dying.

You're not the first one to think that bitcoin is dead/dying, and you won't be the last. All of these things that we have experienced right now, high volume and transaction fees included, are all things that we have experienced in the past and will continue to experience in the future, nothing's gonna faze the die-hard fans of bitcoin and this industry at this point. So if you're worried about bitcoin dying, and you losing all your holdings if you even have some in the first place, sit yourself beside the people who built this community, as well as the ones who stood the test of time and still have bitcoins in their portfolio, and then tell them your worries, I'm not the best techie guy to explain why this and that isn't something to worry about, but people in here have been helpful so far when it comes to thwarting FUD that has deep technical roots.

In any case, crypto winter is still not over, a lot of people will mistake it for bitcoin dying, but soon as we get a leverage, there's a sureshot chance we'll experience another bull-run.

[fauzan Ichsan]

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

Bitcoin offers us a solution. It may not be very accurate to give examples from those who use it for different purposes. Of course, there are those who think as you say. However, there are also those who hold the opposite view. Would it be possible for Bitcoin to survive without such people? I don't think Bitcoin ideas will ever disappear.

for those who are pessimistic about bitcoin, in their view, they may not be able to see the development of bitcoin, so that what exists bitcoin is only stagnant and has no future. but for those who have in-depth knowledge about bitcoin, of course they will not miss the opportunity to continue working and generate income through bitcoin, because there are so many ways that can be done

[Pandu Geddon]

So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that bitcoin Ideas are dying.

the idea that Bitcoin brings is unacceptable to the understanding held by the government. it can also be risky, which is why the government limits the status of Bitcoin and other crypto assets to the ownership of tradable assets. while the use of Bitcoin as a free transaction tool, will collide with regulations.
your thinking is right because of course the government also does not want to be harmed by the movement of people to use Bitcoin instead of the fiat they print.