Bitcoin's 15th Anniversary: Nearing Maturity in a Turbulent World

[Odohu]

What if the dollar collapses?

What if it does not? US economy is still incredibly strong as keeps growing. Or what if USD collapses and takes Bitcoin down with it because investors decide to move to other asset, like gold or another national currency. We already saw some correlation between BTC and the US stock market. So be careful what you wish for.

I don't know where people got the idea of dollar collapsing from. What I find funny is how they are optimistic that dollar collapse will be a victory for Bitcoin. I have spent quality time pondering on the feasibility of this and I have not found any logical explanation. Bitcoin was not created to replace fiat rather as an alternative to fiat (a revolutionary one at that). There will hardly come a time the entire world will ditch their fiat currencies to adopt Bitcoin, I don't see this happening because both will operate side by side.

It is good to FOMO but we must be careful not to turn it to a joke. Bitcoin is traded against the dollar, at least the price of the former is calculated on the bases of the later. If the base currency falls, Bitcoin only gains and this does not mean dollar will not exist or become useful. The US economy is still the dominant economy, it will stay this way for a long time until something changes. Until then, dollar will not collapse, it will only face the usual inflation that is affecting many fiat currencies.

[0t3p0t]

What if the dollar collapses?

Then those dollar pegged currency will be affected.

How will Bitcoin thrive amidst crises?

I can see Bitcoin as unaffected during crisis and I can also see people or investors hoarding Bitcoins to prepare for the worst.

Can Bitcoin liberate itself, embracing a humanity free from financial tyranny?

Well, since Bitcoin is a revolutionary decentralized digital currency I think it is one of the choice for the people to adopt as it is future proof and crisis proof compared to fiat and other physical assets. Though they are different things I think we still need fiat for our daily transactions.

[arb10u]

What if the dollar collapses?

Forget about some assumptions, each currency is independent on it's own, one cannot stand against the other for now, I don't also think there's anything to make the USD collapse if it has not been into this all this while, Bitcoin and Dollar can both exist now together till one turn to become the mainstream for use and adoption and yet they can still both exist together and one is more preferred to the other.

How will Bitcoin thrive amidst crises?

I am delighted to finally see such insightful discussions on this forum, which tends to be vulgar and prone to surrenderism. This should be the first time I've come across a post discussing the future fate of Bitcoin. On its 15th anniversary, many people have become conservative and closed-minded within the wealth created by Bitcoin.

We support Bitcoin not because of its speculative nature but because it embodies the spirit of liberalism that seeks freedom from government restrictions, establishing a decentralized currency payment system to combat inflation and the overissuance of fiat currency.

If one lacks the courage to make reasonable assumptions, then one can only watch as the government and Wall Street manipulate the news about Bitcoin ETFs for market speculation, ultimately destroying the spirit and value of Bitcoin. If you believe there is no confrontation between Bitcoin and the US dollar, then you are denying the fundamental value of Bitcoin, which is what I call surrenderism.


Bitcoin doesn't have to go through all these, the network protocols are set for it to thrive all situations it may pass through, the reason why it's decentralized, we are the ones to rather thrive more towards it's adoption by not having government restrictions on us from adopting Bitcoin.

Can Bitcoin liberate itself, embracing a humanity free from financial tyranny?

Why do you think many were after Bitcoin adoption all over the world, it's because they have identified the liberation with bitcoin and would also want to be liberated along when they adopt it.

You may have forgotten that Bitcoin was born out of these crises. Perhaps you are young; the 2008 crisis destroyed millions of dollars of my assets in Nevada. At that time, I realized the fragility and unreliability of the credit system. When you talk about the 'liberation' brought by Bitcoin, you must be aware that you are discussing liberation from the US dollar. Avoiding this discussion essentially loses the courage to face the essence of Bitcoin. That's my regret.

[taufik123]

Can Bitcoin liberate itself, embracing a humanity free from financial tyranny?

Well, since Bitcoin is a revolutionary decentralized digital currency I think it is one of the choice for the people to adopt as it is future proof and crisis proof compared to fiat and other physical assets. Though they are different things I think we still need fiat for our daily transactions.

In terms of data and facts, Fiat still dominates and is still very much needed today.
Despite Bitcoin being a revolutionary digital currency that will change how we transact and no third-party interference, it is still difficult to fully implement.

See how the regulations carried out by some governments that even completely ban Bitcoin and also make Bitcoin only a commodity.
Bitcoin is still an optional digital currency and in the end Fiat is still the main, it cannot be denied anymore.

[qwezhu]

Bitcoin is a decentralized digital currency designed to eliminate intermediaries, enabling peer-to-peer value exchange.

[asdgou]

Law enforcement agencies have acknowledged the challenges posed by the pseudonymous nature of Bitcoin transactions, leading to efforts to enhance tools for tracking illicit activities on the blockchain.

[qwezhu]

"Yes, from the data released, the U.S. economy is very robust. In my view, this report undoubtedly comes from the infinite expansion of government finances. Despite being in a so-called rate-hiking cycle, the U.S. nominal GDP growth remains high at 2.4%. But even at this expansion rate, it still can't keep up with the growth rate of national debt. The U.S. fiscal year 2023 budget deficit is $1.695 trillion, a YoY increase of about $320 billion, a 23% increase. In 2022, government spending relative to GDP was a staggering 44%, surpassing World War II levels. Considering the U.S. finance comes from borrowing globally, this means this impressive report is not about technology, innovation, and wealth creation for the world but about excessive debt, vampirism on the world economy, and bubble-driven growth. I don't know how long this can be sustained. Bitcoin is currently a small part of this bubble, which is why I see many people on the forums anticipating the so-called ETF. The Bitcoin I look forward to is precisely to eliminate this false bubble."

[qwezhu]

"The forex reserves of most countries in the world are primarily in U.S. dollars. Being USD-denominated means decades of labor and wealth for these nations are stacked in green paper. Moreover, many countries' currency issuance is based on these forex reserves as a benchmark. Additionally, this has happened too many times in history; I believe we must face this possibility cautiously."

[qwezhu]

"You're right; going through posts from the past week, this is the only serious discussion on Bitcoin's 15th anniversary. I find the significance in the fact that times are changing. Fifteen years ago, Bitcoin offered the world another choice; now, can Bitcoin truly bring meaning to the world? Ordinarily, it might destroy Bitcoin, turning it into a zombie. The current decrease in fees might have lowered everyone's guard, but Pandora's box is open. Soon, we'll see a tenfold increase in 'metaverse junk' flooding the Bitcoin network. We need to do something."

[asdgou]

"The forex reserves of most countries in the world are primarily in U.S. dollars. Being USD-denominated means decades of labor and wealth for these nations are stacked in green paper. Moreover, many countries' currency issuance is based on these forex reserves as a benchmark. Additionally, this has happened too many times in history; I believe we must face this possibility cautiously."

[asdgou]

"You mentioned 'until it changes.' However, on the occasion of Bitcoin's 15th anniversary, what needs consideration is 'what if it changes.' Since the establishment of the USD system, a financial crisis affecting the world has occurred every ten years or so. The last time, Bitcoin was born. At this moment, discussing Bitcoin's performance is a truly meaningful discussion. 'Will change happen?' Change will inevitably happen sooner or later."

[zxcasdf]

In the end, it's like a rollercoaster ride. Exciting, a bit nerve-wracking, but everyone's curious to see where it takes us. ETFs could be the ticket to the crypto theme park, my friend!

[zhuzhus]

Picture this: You wake up, check the news, and boom – "Bitcoin ETF Under Investigation." That could be a nightmare for everyone involved.

[zxcasdf]

I overheard someone saying, "ETF or not, I'm hodling my Bitcoin." Some folks are all about that DIY crypto life.

[zhuzhus]

"Yes, from the data released, the U.S. economy is very robust. In my view, this report undoubtedly comes from the infinite expansion of government finances. Despite being in a so-called rate-hiking cycle, the U.S. nominal GDP growth remains high at 2.4%. But even at this expansion rate, it still can't keep up with the growth rate of national debt. The U.S. fiscal year 2023 budget deficit is $1.695 trillion, a YoY increase of about $320 billion, a 23% increase. In 2022, government spending relative to GDP was a staggering 44%, surpassing World War II levels. Considering the U.S. finance comes from borrowing globally, this means this impressive report is not about technology, innovation, and wealth creation for the world but about excessive debt, vampirism on the world economy, and bubble-driven growth. I don't know how long this can be sustained. Bitcoin is currently a small part of this bubble, which is why I see many people on the forums anticipating the so-called ETF. The Bitcoin I look forward to is precisely to eliminate this false bubble."

[lookbiba]

"The forex reserves of most countries in the world are primarily in U.S. dollars. Being USD-denominated means decades of labor and wealth for these nations are stacked in green paper. Moreover, many countries' currency issuance is based on these forex reserves as a benchmark. Additionally, this has happened too many times in history; I believe we must face this possibility cautiously."

[zxcasdf]

"You're right; going through posts from the past week, this is the only serious discussion on Bitcoin's 15th anniversary. I find the significance in the fact that times are changing. Fifteen years ago, Bitcoin offered the world another choice; now, can Bitcoin truly bring meaning to the world? Ordinarily, it might destroy Bitcoin, turning it into a zombie. The current decrease in fees might have lowered everyone's guard, but Pandora's box is open. Soon, we'll see a tenfold increase in 'metaverse junk' flooding the Bitcoin network. We need to do something."

[zhuzhus]

"The forex reserves of most countries in the world are primarily in U.S. dollars. Being USD-denominated means decades of labor and wealth for these nations are stacked in green paper. Moreover, many countries' currency issuance is based on these forex reserves as a benchmark. Additionally, this has happened too many times in history; I believe we must face this possibility cautiously."

[ffggxion]

Imagine telling your grandma, "I just bought some Bitcoin through my regular brokerage account." ETFs could make that happen.

[lookbiba]

It's crazy, though. The SEC keeps delaying their decision on approving a Bitcoin ETF. The anticipation is killing me.