Can Bitcoin save us

[Abiky]

Bitcoin has many uses but no one is using Bitcoin permanently for the volatile market only. Maybe many people are investing in Bitcoin and just holding it but no one is accepting it as payment for business. Since the price of Bitcoin fluctuates over time, it is not permanently accepted as a medium of exchange. In particular, other purchases will not be accepted as payment in exchange. Although the popularity of Bitcoin is constantly increasing, but as such, no country is validating Bitcoin. However, it is not possible to say whether Bitcoin will be accepted as a universal currency around the world in the future. Since popularity and acceptance are two different things, only Bitcoin's popularity is increasing but acceptance among people and as a means of payment exchange is not.

You want to know why volatility is still an issue? It's because people value Bitcoin in terms of Fiat (particularly in USD). The world is still stuck with the Fiat standard. Once BTC becomes the standard unit of account, then prices wouldn't matter. You'd start buying/selling stuff directly in BTC terms instead of Fiat. I mean 1 BTC = 1 BTC, right? So when you go to the store, and buy something for 0.0001 BTC (for example), it will stay that way no matter what. Static/constant prices, not changing based on current market prices (volatility).

At least, that's the dream. But it'll never become a reality because: A. People invest in BTC out of greed (to get rich quick), and B. Governments won't allow this to happen. At this point, I doubt Bitcoin will be able to save the world. In fact, banks and governments will become stronger by using the same tech underpinning Bitcoin (Blockchain). They will launch CBDCs, effectively rising all the way to power. Who needs decentralized cryptocurrencies, when digital Fiat (CBDCs) can do the same job with the added advantage of greater merchant acceptance and versatility? Therefore, Bitcoin will remain an alternative than a replacement of the Fiat money system forever.

[Gladitorcomeback]

At this point, it's too late for Bitcoin to save us. Banks are still relevant, while centralized exchanges dominate a large portion of the market. Satoshi's vision of decentralizing the economy cannot be fulfilled this way. In the early days, I've thought BTC was going to render banks obsolete and even move people's interest away from Fiat. Guess I was wrong. The vast majority people consider Bitcoin as an investment. Not a currency. They buy BTC with the hopes of getting rich in the future.

That's a harsh reality. We are witnessing something that might have been anticipated but wasn't planned. Satoshi knew that Bitcoin was going to become extremely popular in the future which is why he said that after a decade, there would either be a lot of transactions in the blockchain or there would be none. He probably also knew that the price value of Bitcoin would increase over time considering the fact that it has a limited supply and the rule of supply and demand will power the price up once the demand increases.

However, his vision was definitely different. He didn't create Bitcoin to become an investment asset or a scheme that people could use to become rich by buying and selling it. What's even more ironic is that many of the people who invest in Bitcoin don't even know what it was created for, they think it was created to become what it has become these days which isn't true.

[Minor Miner]

It is understanding that if you're fine your way very good for bitcoin investment bitcoin can save you from financial downfall because the level of Bitcoin increment from year to another year is getting larger so the Bitcoin you invest today may not be the same value of bitcoin receive next year because of it yearly increase for now so that alone, that bitcoin will help you for boosting economy or making you to be a financial strength through the investment I don't know for other people but what I know is that and when you mislead the information of Bitcoin investment you will end up condemning bitcoin and its investment because you have not known about Bitcoin or make inquiring about bitcoin very well before your invest on it

Are you sure bitcoin will save us from financial collapse? I doubt it. Because as we all know, bitcoin is very volatile whenever the economy is in trouble and it always gets dumped whenever there is a crisis, war...So I think if the economy collapses it will not be good for Bitcoin and it cannot save us from the collapse of the world economy.

Bitcoin can only save us if it becomes an inflation hedge or store of value, but right now, bitcoin is only used as a high-risk investment. That's why it's always dumped whenever the economy fluctuates. This may change in the future as bitcoin becomes more stable, matures, and is seen as a store of value like gold, but right now bitcoin can't really save us if the economy collapses.

[martinex]

Bitcoin can only save us if it becomes an inflation hedge or store of value, but right now, bitcoin is only used as a high-risk investment. That's why it's always dumped whenever the economy fluctuates. This may change in the future as bitcoin becomes more stable, matures, and is seen as a store of value like gold, but right now bitcoin can't really save us if the economy collapses.

I think the mindset that comes from most people right now is the idea of ​​how they buy BTC and will quickly make a financial gain when in fact the direction is not absolute at all.

Yes. I agree, change will always come when there is a little bit of bad news in the market but a little preparation is also needed rather than buying silly coins that suck all our money when we buy them. I think BTC is still very good in terms of performance even though right now bitcoin cannot really save us if the economy collapses as you imply.

[ancafe]

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

We need an alternative to the weaknesses of the previous financial system, but the attachment to it is still dominant and difficult for most people to avoid. I believe that Bitcoin can foster someone's interest in achieving financial freedom, but Bitcoin cannot provide anything if each individual does not take action to use it as an investment vehicle. But when it comes to transaction tools, fiat currencies are still the vehicle used by most people today.

Bitcoin was created so perfectly that people saw some potential in it, so people tried to use this investment system as a step towards something much better than before. Without being used by each individual, Bitcoin will not be able to save anyone and that is impossible.

[Plaguedeath]

I think the mindset that comes from most people right now is the idea of ​​how they buy BTC and will quickly make a financial gain when in fact the direction is not absolute at all.

Yes. I agree, change will always come when there is a little bit of bad news in the market but a little preparation is also needed rather than buying silly coins that suck all our money when we buy them. I think BTC is still very good in terms of performance even though right now bitcoin cannot really save us if the economy collapses as you imply.

Earning from Bitcoin gain isn't that big, maybe like few percent only, while people are looking for something like earn 2x, 5x, 10x in 1-2 week(s), which is impossible to earn as big as that in Bitcoin.

I have to disagree if Bitcoin can't save us if the economy collapses, the collapse of global economy will affect real estate, offline business, fiat, stock, interest rate etc. But it doesn't affect Bitcoin and gold because Bitcoin is decentralized, while gold has been trusted for many many years.

[Wakate]

Bitcoin can only save us if it becomes an inflation hedge or store of value, but right now, bitcoin is only used as a high-risk investment. That's why it's always dumped whenever the economy fluctuates. This may change in the future as bitcoin becomes more stable, matures, and is seen as a store of value like gold, but right now bitcoin can't really save us if the economy collapses.

I think the mindset that comes from most people right now is the idea of ​​how they buy BTC and will quickly make a financial gain when in fact the direction is not absolute at all.

Yes. I agree, change will always come when there is a little bit of bad news in the market but a little preparation is also needed rather than buying silly coins that suck all our money when we buy them. I think BTC is still very good in terms of performance even though right now bitcoin cannot really save us if the economy collapses as you imply.

Many of the Bitcoin enthusiastic need to remove the mindset of seeing Bitcoin as a quick way to make money from the cryptocurrency market. Bitcoin is not for people that has little funds and don't have a good source of income where they could be taking care of their bills while holding their crypto assets. I have seen few holders of Bitcoin going back to their portfolio withdrawing part of it to take care of their bills. I know that this is not the way it's supposed to be but people must take care of their bills even they have Bitcoin portfolio. It is much easier when we have other source of income while holding our Bitcoin. This will help and prevent the necessity of going to withdraw part of our portfolio to take care of our needs.

[GeorgeJohn]

When you plan well with bitcoin I believe that bitcoin will help you for financial uplift, so a process whereby you have not understand bitcoin I don't think that bitcoin can save you, the reason I concur that bitcoin will help you to achieve another steps is that, I have seen some countries  who invest on golden and the time they were saving gold or storing gold maybe some countries disregard gold as a digital currency that will yield good in future, so I believe that by now those countries that conserved gold is benefiting it today because they saw future in gold as of that time.

[Ryu_Ar1]

However, his vision was definitely different. He didn't create Bitcoin to become an investment asset or a scheme that people could use to become rich by buying and selling it. What's even more ironic is that many of the people who invest in Bitcoin don't even know what it was created for, they think it was created to become what it has become these days which isn't true.

But in the end, something like this also cannot be said to be wrong even though I still have the same opinion where when some people don't even know the concept of creating bitcoin, the initial purpose is for what because they only know bitcoin which is indeed an asset to invest or trade but in the end this is also not a mistake in my opinion.

Although indeed the initial purpose of bitcoin functioned as a method for payment options but in the end we also cannot deny that for now bitcoin is more inclined to be used as an investment material. Things like this happen because indeed bitcoin is still one of the good commodities to be used as an investment and this is not wrong because indeed as long as it is in bitcoin then it is still very good for me. As for in the end this becomes a means of payment or not for now it is optional just like the initial goal because Satoshi also wants to make this optional for fiat not as a substitute.
 

[Peanutswar]

I guess this is one of the topic that I've seen and they wondering if the Bitcoin can change their life. Actually it is but it depends on the investor how they will handle their Bitcoin actually not only with the use of the Bitcoin because even altcoins can change people life instantly if and only if they find a good project As of today there's a lot of establishments and businesses supporting the use of the Bitcoin as you can see even in payment they are now support the use of the Bitcoin so you don't get bothered too much with the potential of the Bitcoin.

[Abiky]

That's a harsh reality. We are witnessing something that might have been anticipated but wasn't planned. Satoshi knew that Bitcoin was going to become extremely popular in the future which is why he said that after a decade, there would either be a lot of transactions in the blockchain or there would be none. He probably also knew that the price value of Bitcoin would increase over time considering the fact that it has a limited supply and the rule of supply and demand will power the price up once the demand increases.

However, his vision was definitely different. He didn't create Bitcoin to become an investment asset or a scheme that people could use to become rich by buying and selling it. What's even more ironic is that many of the people who invest in Bitcoin don't even know what it was created for, they think it was created to become what it has become these days which isn't true.

Bitcoin's original purpose was the "eliminate the middleman". It was created as a response to banks' failures. The great financial crisis of 2008, paved the way for BTC to take over the world by storm. Unfortunately, greed took over the industry and now centralization is rampant. With custodians in the way (exchanges, banks, institutional investment firms), Satoshi's vision will not materialize.

This is typical of new tech. They start good, only to end up being compromised in the long run. Remember how the Internet was a decentralized paradise? It's now utterly-centralized with big corporations making a living off people's data. Governments control the Internet to such a degree where they can easily surveil your daily activities (Big Brother) whenever they want to.

Can Bitcoin save you? If you want to beat inflation and get out of poverty, then yes it can. But it won't save you from banks or the government. Especially when Fiat still makes the world go round. One way or another, you need to depend on Fiat (traditional currencies) to survive. BTC alone can't be used to pay for everything. It will remain an alternative currency for as long as it lives.

[xenomorfo]

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

in the Italian forum we discussed it a lot, given that in Italy the prospect of having a pension is truly a dream that will never come true
people like me, in my ignorance, decide to build a pension plan that makes sense in bitcoin, since the state doesn't protect us, we protect ourselves
so from my point of view yes, bitcoin can save us or at least it will save me

[Thomas Pellegrino]

Earth's global markets are not the only markets with this problem. Bitcoin was created to be a Multiversal Reserve Currency, backed by human goodwill- the only truly stable asset in the multiverse. With Bitcoin, the possibilities are endless. It would be worth exponentially more if it was not plagued by illegal human activities. SATOSHI NAKAMOTO have created a supplemental currency to enrich Bitcoin's original function- Bridge to the Stars.

https://bitcointalk.org/index.php?topic=5513720

[philipma1957]

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

Not the issue.  The design of BTC is best for hodl+investment.  Why is that the ever shrinking rewards cause BTC to become more costly.

How would you like to have spent 10,000 btc for 2 pizzas?

Even now at 68k a coin how would you like to buy a new car for 1 btc and in 4 years that same 1 BTC is worth 4 cars.


The small minded people in the rule do not understand that Scrypt merge mining of LTC Doge and now Bels is the better designed p2p system.

Why because Doge never runs out of the 10,000 coin reward for each block.

instead the inflationary rate of doge is a controlled endless descent toward 0%

year 1 = x Doge coins
year 2 = 2x doge coins omg 100% inflation

year 10 = 10x doge coins
year 11 = 11x doge coins hmm down to 10%

year 20 = 20x doge coins
year 21 = 21x doge coins wow down to 5%

year 50 = 50x doge coins
year 51 = 51x doge coins only 2%.  this is around year 2061


year 100 = 100x doge coins
year 101 = 101x doge coins just 1% inflation in the year 2111


this is far better for p2p than btc's setup


why because doge should slowly grow in value  due to the slowing inflation rate.

So paying 68,000 usd worth of doge today for a car should mean maybe it is 95,000 or so in 4 years not 680,000


thus bc continues to fail and a true p2p coin.


but way way way way better as buy and hodl.

This is simple math.no more or less than that.

[fuguebtc]

I guess this is one of the topic that I've seen and they wondering if the Bitcoin can change their life. Actually it is but it depends on the investor how they will handle their Bitcoin actually not only with the use of the Bitcoin because even altcoins can change people life instantly if and only if they find a good project As of today there's a lot of establishments and businesses supporting the use of the Bitcoin as you can see even in payment they are now support the use of the Bitcoin so you don't get bothered too much with the potential of the Bitcoin.

Or to be more precise, bitcoin is just a tool, a medium, an investment like many other investments. All of them can save us or make us worse, and it will depend on how we handle our investments . Many people can improve their lives quickly and become rich thanks to it, but many people also become poorer because of blindly investing in bitcoin .

Bitcoin only provides us with the means, the opportunity for us to take advantage of to save ourselves , it is not created to be distributed freely to all of us to escape poverty .  So the notion that Bitcoin can save us is not entirely true because a lot depends on ourselves .
The only difference between bitcoin and other instruments is that bitcoin gives us bigger , faster opportunities but also comes with bigger risks .

[wozzek23]

An alternative may be a much more valid reason than a replacement narrative.
The creators of bitcoin had an idea of why people should consider their product an alternative and we all know that bitcoin can provide something much better.
There are many problems with fiat currencies and we can see how economic developments are causing banking systems to become more chaotic and inflation is high, making currency exchange rates worse for some countries.

Money continues to lose value and is no longer able to maintain the resilience of a centralized system, but the economic journey is still needed by humans despite its weaknesses.

We don't know, maybe even Satoshi the founder has a narrative like that. You know, the reason why he creates a BTC is because maybe he hates fiat and wants to replace it by his own creation but if not, there might still be people who can think like that. BTC have already gone a long way, so why not right? Maybe we are truly heading on that direction?

But even right now or even before, we still can use our BTC as a main currency as long as we are on a country that allows it and even if not, we still can do bypasses and shop directly online using it. BTC has an advantage but it is not perfect. It has a disadvantage too and some people can consider it, resulting for them to not totally rely on the coin.

[Przemax]

Bitcoin was ment to save yourselves. It is purely anarchocapitalistic. So if by us you mean bunch of individuals? Sure it can save "us".

Some systems needs to stop functioning like zombie companies and so on and that would hurt a lot of people that invest in them. If they would hedge their investments in bitcoin they can "save" themselves.

Price fluctuation is not a bad feature of bitcoin. It attracts the investors and provide liquidy to the market making it more stable - I know it might sound paradoxical but its not. Market is stable as it is always on the trend upwards constantly as of now (in the long run).

[dunfida]

I guess this is one of the topic that I've seen and they wondering if the Bitcoin can change their life. Actually it is but it depends on the investor how they will handle their Bitcoin actually not only with the use of the Bitcoin because even altcoins can change people life instantly if and only if they find a good project As of today there's a lot of establishments and businesses supporting the use of the Bitcoin as you can see even in payment they are now support the use of the Bitcoin so you don't get bothered too much with the potential of the Bitcoin.

Or to be more precise, bitcoin is just a tool, a medium, an investment like many other investments. All of them can save us or make us worse, and it will depend on how we handle our investments . Many people can improve their lives quickly and become rich thanks to it, but many people also become poorer because of blindly investing in bitcoin .

Bitcoin only provides us with the means, the opportunity for us to take advantage of to save ourselves , it is not created to be distributed freely to all of us to escape poverty .  So the notion that Bitcoin can save us is not entirely true because a lot depends on ourselves .
The only difference between bitcoin and other instruments is that bitcoin gives us bigger , faster opportunities but also comes with bigger risks .

Precisely said and this is something that a certain individual should really be realizing and not really just that rushing in without having some proper research, it isnt really just that limited to Bitcoin or crypto investment but also in other investments as well on which proper planning and things on which you would be needing up to mind off is something relevant. You cant just rush in and just make out direct investment without proper planning. Just like on what you have said that it could neither save us or would really be the main reason on why we would really be sleeping on the streets just because you have forgotten that risks management on which you should really gonna supposed to do so. There would really be those individuals who would literally trying out to forget on what must things that they should do and really sticking into doing things on whats up into their minds.

in the Italian forum we discussed it a lot, given that in Italy the prospect of having a pension is truly a dream that will never come true
people like me, in my ignorance, decide to build a pension plan that makes sense in bitcoin, since the state doesn't protect us, we protect ourselves
so from my point of view yes, bitcoin can save us or at least it will save me

Saving up you literally or speaking about having that pension is never been considered as a guarantee. THere's no way that we can be able to predict the future.
I would really be rather on sticking into those traditional insurance plan and other correlated things rather than on focusing on a single point like crypto investment
and be thinking that it could be able to save me up until into my senior years.

[Furious 7]

I guess this is one of the topic that I've seen and they wondering if the Bitcoin can change their life. Actually it is but it depends on the investor how they will handle their Bitcoin actually not only with the use of the Bitcoin because even altcoins can change people life instantly if and only if they find a good project As of today there's a lot of establishments and businesses supporting the use of the Bitcoin as you can see even in payment they are now support the use of the Bitcoin so you don't get bothered too much with the potential of the Bitcoin.

Everything returns to yourself (in this case investors who are in bitcoin) because after all this question can only be answered from our seriousness in investing and learning bitcoin properly.
Bitcoin can save us but on the other hand bitcoin can also destroy us. Several cases occur when there is someone who is ultimately destroyed or even does experience huge losses due to bitcoin but on the other hand many are also quite successful when they are in bitcoin.

Everything returns to yourself in the end when we are really serious and do everything right and remain confident even though bitcoin has decreased temporarily and can maintain our emotions then the situation will certainly be very good but otherwise when we are in bitcoin only because of fomo and think of situations that are positive only like big profits but without wanting to have risks then most likely we will fail to be in bitcoin in the end.

[tottong]

We don't know, maybe even Satoshi the founder has a narrative like that. You know, the reason why he creates a BTC is because maybe he hates fiat and wants to replace it by his own creation but if not, there might still be people who can think like that. BTC have already gone a long way, so why not right? Maybe we are truly heading on that direction?

But even right now or even before, we still can use our BTC as a main currency as long as we are on a country that allows it and even if not, we still can do bypasses and shop directly online using it. BTC has an advantage but it is not perfect. It has a disadvantage too and some people can consider it, resulting for them to not totally rely on the coin.

I don't think he created bitcoin because he hated fiat because from what we see generally fiat is still a human need and even if he was still alive, he would still use fiat.
No one says it's impossible but we see in reality that currently the use of bitcoin for transaction matters is not that widespread.
If shopping online might be true because there are several places that currently facilitate purchases using bitcoin.
In the near future, this cannot be implemented globally because each country has its own currency and they will certainly maintain fiat as a means of transaction.

Back to the main discussion, whether bitcoin can save us, of course it depends on how people use bitcoin and if someone wants to achieve financial freedom then invest in bitcoin consistently.