Bitcoin is "dying".

[crypticj]

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.

[1714697093]

1714697093

[Aanuoluwatofunmi]

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

If the bitcoin protocols does not changes, the blockchain does not go against it consensus and the value of bitcoin does not go to zero worth, then nothing to fear or get scared about.

Bitcoin ideas and work done are completely finished products that needs no addition or subtraction frombthe system with the use of blockchain technology, there may be volatility anyway but that doesn't change anything concerning bitcoin being what it is not.

it looks like crypto right now is moving to centralization and control over our funds.

Every other cryptocurrencies are centralized cryptos except bitcoin, so i assume you to have known this before now a d your bitcoin is your only when you make use of a cold storage in having your bitcoin

Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.

It's an asset when you invest in it, hodl it and later sell it, you would have realized some profits, bitcoin is a currency because you can use it as a medium of exchange for goods and services, that's why it's called a digital currency.

[tabas]

If that's what you think, so be it. But it doesn't mean that if you're thinking that it's like that and Bitcoin is dying, it really does. We've got a lot of people that are optimistic with Bitcoin's future and if you don't like people owning Bitcoin because they see it as a store of value and will just eventually be sold later on, that's fine. We've got different purposes and desires why we are holding Bitcoin. The idea of Bitcoin being a future payment and currency isn't being removed and gone. You're just noticing that there's a division for those people that likes it as an investment instead of a payment method. But you need to realize that neither of those are being gone, Bitcoin is still being used as payment by many and we're all optimistic of its future. And as for these KYC, it's these companies jurisdiction and responsibility to do it because they're being required by the government. Do not forget that we've got options to opt-in whether you want to use a service or not.

[o_e_l_e_o]

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.

All you've discovered here is that Bitcoin Discussion is filled with spammers and bad place to try to have any intelligent conversation about bitcoin.

Recently I tried to sell my crypto without KYC and I didn't find any good platforms to do it!

Here are 20+ to choose from: https://kycnot.me/

[Hatchy]

Just because you couldn't find a good platform, to sell your crypto shouldn't bring you to a conclusion that Bitcoin is centralized, like how is that even possible.

 Since you are already a senior member of this forum, I will assume that you should already be familiar with many other decentralized and peer to peer platforms that doesn't require any kyc verification from you before you use their services. Why worry your self too much over kyc verification platforms why you can just do everything without passing through all that stress.

As for the ledger or any other platform that would bring the idea of storing the seed phrase in the cloud, I don't think that most people will queue into that idea because the cloud storage can be attacked at anytime, putting everybody's funds at risk.

Just stay positive on Bitcoin, it's growing and in no time, it will reach its full potential and which is to serve as an alternative to the store of value (fiat)

[mendace]

Yes it is true there is a basic truth in your words but what you say happens 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 and yet the withepaper in the first lines clearly expresses the concept of what Bitcoin is.  But it is not true that to exchange Bitcoin you have to do the kyc just understand what is the real purpose that Bitcoin solves or the peer to peer and then why shouldn't you exchange Bitcoin with other people precisely on Bisq for example?  But is that really what you want?  Do we really want to exchange digital scarcity for a shitty infinite Fiat?  And again, yes ledger has screwed up again but there are many other efficient solutions, don't let the above users put you off, many of the business are right here to do what Bitcoin is not meant to do....money.

[AHOYBRAUSE]

Just because you couldn't find a good platform, to sell your crypto shouldn't bring you to a conclusion that Bitcoin is centralized, like how is that even possible.

 Since you are already a senior member of this forum, I will assume that you should already be familiar with many other decentralized and peer to peer platforms that doesn't require any kyc verification from you before you use their services. Why worry your self too much over kyc verification platforms why you can just do everything without passing through all that stress.

As for the ledger or any other platform that would bring the idea of storing the seed phrase in the cloud, I don't think that most people will queue into that idea because the cloud storage can be attacked at anytime, putting everybody's funds at risk.

Just stay positive on Bitcoin, it's growing and in no time, it will reach its full potential and which is to serve as an alternative to the store of value (fiat)

Couldn't say it any better.
If you want to deal bitcoin in an anonymous way it is still super easy, no need to be so pessimistic.

I have never encountered a wallet where I have send my ID. Meaning I never used one and also never actually needed one. I did KUC only once for an exchange and actually never used it anyway. Everything I did was p2p or at ATMs and so on.

So if you want to walk the "anonymous" way that bitcoin used to present then you have so many options.

I don't understand why somebody would come to this conclusion after chatting in a forum for 1 week.

[Cryptomultiplier]

One reason you cannot find good ideas to discuss about Bitcoin here is maybe because you do not know where to ask it or how to arrange the question in a proper manner for someone to give you the answer you really seek.
There are many talkers here that would find your intelligence on the Bitcoin subject very contributory if you could raise one and the response would be swift.  It depends on what you actually want to know.
BTC gaining mass adoption is the strength in numbers philosophy that gives it longevity. It is still decentralized although the government through various agencies are trying to make it centralized so they can monitor it, until that happens the only far cry right now is just KYC.
BTC may not make much gain now, but it remains a steady and stable coin surviving various Market volatility, hence why it still tops among the best cryptos to invest in.

[Lucius]

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

I don't want to sound repetitive, but I will by no means agree with you when you say "bitcoins ideas are dying", but rather I will say that you still haven't understood a lot (when it comes to Bitcoin), and besides, your "ideas" or better say various FED/FUD speculations die one after the other and much faster than you produce new ones. Look at your post history in the last 2-3 months if you forgot what you wrote.

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 can agree with some things, but no one can control people and their actions when it comes to something like Bitcoin, and the fact is that Bitcoin mainly attracted people because of the possibility of profit, and far less because they wanted to use it as a currency. What you are talking about has been happening for at least 10 years, so it is better not to live in illusions, but to accept things as they are, or to do something to change them.

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.

So did you think that the financial lion that was created hundreds of years ago is sleeping and letting Bitcoin become the new king of the financial jungle? Centralization and regulation are very effective methods of putting something under control, and considering that 99% of people in the world behave in a centralized manner, everything that happens is only a reflection of the society in which we live.

There is always an alternative, you just have to make an effort to find out how to do it. You have already received the link, now you just need to choose the best option.

[buwaytress]

Let's say I believe you and you think not enough people are using Bitcoin for intended purposes, so it's "dying" (despite actually constantly creating new records of utility, computing power, transactions, fees etc.).

When did you last use Bitcoin as a p2p payment? Put simply: when did you last pay in Bitcoin, or offer to sell or settle something in Bitcoin? Sig camps don't count... that's a win on the owner not on us.

No point sitting around waiting for things to happen.

You started life on this forum as a Litecoin seller. Not even a merchant. Does that say a lot about where you are today?

[Ojima-ojo]

Bitcoin just is a decade + and I think you are too early to call the idea dead, it is as if you are calling an idea dead before it takes off, but if you said Bitcoin has not grown to the potential you expected it to be as being used as a currency but then the regulatory limitations have hindered that from happening openly, but in a real note we still have a couple of instances where bitcoin is used for payment for goods and services.


On a serious note mate in the cause of your writing, you mentioned that you can't find a place to trade your bitcoin on a decentralized exchange and because of the growing number of centralized exchanges, you believe that bitcoin has lost its decentralization right, which is also not correct because we still have deserialized exchanges you can choose from and based on tour preference.

[posi]

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?

I agree with part of your statement, there are many inconsistencies in the use of bitcoin, and since then caused many never-ending controversies.

In the same way, people want bitcoin to be widely accepted and used, but they also want bitcoin to give them anonymity. I don't know how that will be done when we use bitcoin to pay in public places. This sounds ridiculous to me, and it's hard to have a definitive answer because everyone has different views and uses of bitcoin.

[zenaku]

for me bitcoin will no longer be what satoshi thought.
to pay 1usd in btc the commission is more than 10usd.
bitcoin is good for large transactions but it is not very fast and sometimes it gets congested.
bitcoin is very unstable, but its value will always increase.
The idea of cash in bitcoin no longer works...
btc is the digital pro, the store of value
LTC is digital silver
What crypto will the cash be?
-I don't know, what I do know is that bitcoin is the best investment of your life

[serjent05]

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.

People are just taking the opportunity to earn, but if you look around you, people are still using it as what it was intended.  If Bitcoin is just being hoarded then you cannot see services that accept Bitcoin to last for years.  People in this forum are well aware of the potential of earnings which is why most people here are into investing in Bitcoin to make a profit from it.  Besides, there are also threads that promote the usage of Bitcoin, see how many threads are created that they are accepting Bitcoin in their stores.

You cannot stop people from holding BTC the same way you cannot stop people in spending and trading them.  That is Bitcoin, it is its features and characteristics, just because people are not doing what you expected you think that Bitcoin is dying, how about dig a little deeper in your research?

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?

I think not everyone stated that Bitcoin is an asset, many members here know that Bitcoin is originally created as a digital currency and they know the purpose why Bitcoin is created.  You are looking at one part of the answers ignoring replies that stated it is a digital currency.  Besides, if you look at a definition of asset...

as·set
noun
a useful or valuable thing, person, or quality.

Isn't Bitcoin fall under this evaluation?  So why are you so against this idea?

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.

They are centralized exchanges, try the decentralized one and you will see what you are looking for.

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.

Ledger is a private company and has nothing to do with the Bitcoin network.  They take advantage of the popularity of Bitcoin to sell their product.  You can always opt not to buy from them.  Even with this company being bankrupt, it has nothing to do with Bitcoin development.

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.

Well there are people who thinks worst on Bitcoin saying that it is dead.  It has been around for a decade now, see this list of Bitcoin Obituary stats: https://99bitcoins.com/bitcoin-obituaries/

[Merit.s]

As for me, I don't think so because bitcoin still has its potential value no matter what we say about bitcoin, it is still the same and nothing has change. Fiat is fast depreciating and people see bitcoin as a store of value. Initially bitcoin was to give financial freedom to people and to be use for payment beyond boarders. As time goes on investors noticed that it has other great potentials which I will say is more beneficial than just using it as an alternative payment,which is that it is volatile. Investors decided to take advantage of bitcoin volatile nature to use it as an asset to resist inflation and also to make profit. I don't see how this has affected the ideas of bitcoin, because the profit aspect of it was later on discovered by investors.

So considering all this, it looks like crypto right now is moving to centralization and control over our funds.

Human activities are always centralized and it is human that is trying to make bitcoin centralized which is impossible because bitcoin is a decentralized system.  Try and use the decentralized exchanges so that you don't feel this way.

[Z390]

I respect your opinion OP, if this is what you think about bitcoin then so be it, as for others I believe their opinions won't be the same like yours, and as for me I believe that anything that has limited supply also has a value.

Many people use Bitcoin as means of payment, throw your question to their faces instead and wait for their reply, Bitcoin can be used as means of payment and there is nothing complicated about it, if I am selling a gold cup for 1000$ and you pay me with Bitcoin, you will be sending me 1000$ of Bitcoin at the present value, that's in Sats. After receiving my payment I can decide to turn it into USDT or convert into Fiat if I want.

If Bitcoin lose value in the next an hour it's no more your problem but mine, because I accepted Sats of Bitcoin that's worth 1000$ an hour ago.

This problem is present in Fiat also, I exchange my local currency from 735 a day ago to 1$ and today it's 760 to 1$.

[Z-tight]

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.

There are very good p2p exchanges where you can exchange your BTC for fiat or the other way round. The BTC network and blockchain technology has provided opportunites for people to create services, so don't complain about kyc exchanges, i don't agree with how shady many of them operate, but there are options, if you want a centralized or p2p exchange, you have to choose for yourself, it does not mean "BTC ideas are dying"

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.

There are enough self custody wallets that you can use, have you researched before complaining; you don't even need multiple p2p services, if there are a few ones that are truly decentralized and p2p, then it is okay, you can use Bisq as your p2p exchange and Electrum as your self custody wallet.

[seoincorporation]

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.

[Hyphen(-)]

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.

Because no one has bridged the Bitcoin rule or changed anything in the Bitcoin technology, the process continues as expected, despite some unforeseen circumstances that have arisen as a result of attempts to centralize the entire crypto world and ruin the idea of Bitcoin, which is decentralization, for their own selfish interests. However, because Bitcoin has limited supply and maintains its value, the concept is not dead.

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'm not sure what you're trying to say here; there are so many diverse perspectives on Bitcoin. Most people are aware of its true role, which is to provide us with financial freedom by allowing us to invest in it in order to keep our financial value and avoid being harmed by inflation. If Bitcoin increases in value, we benefit, and no authority will be able to control our wealth.

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?

The reason for waiting for broad adoption is to eliminate banking and third-party systems, giving everybody control over their individual wealth rather than giving it to banks to utilize for their own use.

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.

Some people opt to risk their Bitcoin by using it centralized because they believe it is easier and they are not prepared to learn how to acquire complete freedom, whereas others use it efficiently in a decentralized manner.

[Kakmakr]

We experience this with every significant drop in the price, because that is the trigger for the Bitcoin haters and trolls to come and spread FUD on the forum. Do not take any of these "negative" posts too serious, because that is exactly what they want. 

You do not have to use "Ledger" or any other centralized platform, just use Electrum or paper wallets for long-term storage. Anyone dumb enough to fall for this "cloud" storage nonsense, should learn a hard lesson.