The future of Bitcoin

[GreatArkansas]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

Well it's true bitcoin is now seen more as an asset to hold rather than using it for day to day transactions as proposed by Satoshi but that is also an added advantage. Though bitcoin is also used to break the barriers of a third party like our fiat financial institutions and used for small transactions just like in El Salvador but I don't see anything wrong with holding bitcoin.  Our fiat systems are likely to experience inflation. People call bitcoin digital gold because it only gains more value rather than experiencing a downtrend and Satoshi was wise enough to make only 21 million bitcoin to be circulated after all blocks have been mind. Today bitcoin is more famous not as a currency but because of its increase in value over time because of its volatility.

But I think that is really the use of Bitcoin, that is how it is built and that is also the reason why I believe Bitcoin is still here now even though a lot of people say Bitcoin will not stay and it is a scam.
For me, there are a lot of uses for Bitcoin as it was built in the beginning to solve the problem we have in traditional banking, our fiat system, and day-to-day use.
Just think how gold started, where it also can be used as money for transactions - buying and selling, there's a different purpose.

[Catenaccio]

But I think that is really the use of Bitcoin, that is how it is built and that is also the reason why I believe Bitcoin is still here now even though a lot of people say Bitcoin will not stay and it is a scam.

Did you imply about things happened with you in the past, some years ago?

I guess it is all about your challenge to accept Bitcoin in the past, but not your barriers in 2025 year. Because it is not reasonable at all to accuse Bitcoin is scam or will die in year of 2025. It's very possible to say these things and negative, pessimistic predictions on Bitcoin future like this, in many years ago, but in 2025 saying so is very ironically.

FUD always exists so preparing better knowledge about Bitcoin, and past FUD attempts can help more easily debunk Bitcoin FUDs.
https://endthefud.org/
https://bitcoincleanup.com/
Debunking the "Bitcoin is an environmental disaster" argument.

[Yablee0]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

Regardless of this you just mentioned people still use bitcoin as a medium of exchange, and also it serve as an alternative means of payment. Bitcoin has been in existence now for a very long time, and very soon btc will be considered the number one means of exchange globally.

[YanzhangKui]

Brother, I think your idea is too fundamentalist. Bitcoin doesn't necessarily have to develop according to Satoshi Nakamoto's original intention. Satoshi Nakamoto is a scientist, not a religious leader.
兄弟，我觉得你的想法太原教旨主义了。比特币不是一定要按照中本聪的初衷来发展。中本聪是一个科学家，不是一个宗教领袖。

[Makus]

But I think that is really the use of Bitcoin, that is how it is built and that is also the reason why I believe Bitcoin is still here now even though a lot of people say Bitcoin will not stay and it is a scam.
For me, there are a lot of uses for Bitcoin as it was built in the beginning to solve the problem we have in traditional banking, our fiat system, and day-to-day use.
Just think how gold started, where it also can be used as money for transactions - buying and selling, there's a different purpose.

Indeed bitcoin is perfect the way it is. Like I said earlier most persons know bitcoin as a currency with good store value rather than a normal day to day currency for transactions. Bitcoin was created to avoid trust issues or involvement with a middle man in a business transaction  and till forever I pick bitcoin than any other currency the fact that one can securely make transaction anonymously without anyone noticing is amazing. The only set of persons who still tags bitcoin as a scam project are those who couldn't buy on time and they are just filled with regret or those who didn't read or get proper information about how transactions are made and they make mistakes. Or those who intend trading short terms and couldn't make a profit in a short period of time. Bitcoin is not a get rich quick scheme it requires patience to earn good profits from the market.

[Zanab247]

Do you use Bitcoin as a currency? if you're using Bitcoin as a commodity, then you're nothing different with most people.

Even the countries that is using BTC for payment in their various businesses is because their government made it legal tender for them to know what BTC can offer to users which you can't find such benefits from decentralized currency because is not order the government control.

It's too late to exclude banks and governments to control Bitcoin because many years ago, most people choose to buy and hold their coins in centralized exchanges, The US launch Bitcoin ETFs, governments start to accumulate Bitcoin and recently banks can also accumulate Bitcoin starting from next year.

Despite many government has created their own coins in the past, and is not attracting people to invest their money in the government coins because they know that they are not going to benefits from the Centralized digital currency that  is control by the government. I have heard many governments testimonies on how they bought BTC in the bear market and hodl for a long years before they were able to achieved this massive profits they got  from BTC, which they know that it will be difficult for them to achieve that kind of profit from centralized currencies.

[Smack That Ace]

Satoshi’s goal for bitcoin is still being actualized today and as long as we still have people using bitcoin for daily transactions, we are getting closer to achieving the full aim of the invention of Bitcoin. People make use of the secondary aim of bitcoin mostly which is to be used as an investment asset rather than being used for daily transactions. As bitcoin is becoming globally acceptable, we will begin to see his most used case for transactions and to be the best alternative to fiat current which Satoshi wanted after introducing bitcoin to the world.

We should accept and face the fact that today's world only considers bitcoin as a commodity, most countries accept and legalize bitcoin as a commodity. No major country allows people to use bitcoin as a currency and not many people want to use bitcoin as a currency anymore. Most people are only interested in making a profit from it, including you.

To put it bluntly, bitcoin has almost no chance of becoming a currency as it was originally intended to be, things have gone in a completely different direction. And what's more important is that everyone is happy with bitcoin's current role, no one wants to change it.

[tottong]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

Unknowingly many people hold bitcoin and do not fully use it as a purchase or sale transaction, although some people even buy something using bitcoin, but the scope is still quite small.
If you want bitcoin to become a global currency, you need to take big steps and have regulations that can guarantee that it runs well.
But the concept of bitcoin is not like that because the freedom that is embraced will make this asset so perfect with no authority controlling it like fiat currencies.

His vision is still running according to the creator's expectations because bitcoin can still be two functions that fiat currencies have, both as a means of transaction and as savings because currently it is still running according to expectations, although for the issue of legitimate transactions, it is still limited by regulations for several countries.

[Hewlet]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

that bitcoin has moved from being just a currency to an asset that is considered to be worth buying, selling and holding shows how multidimensional and yet valuable it is and with that, it future is still going to be bullish. even with attention a bit shifted from using bitcoin as mere currency to considering it an asset, it is still moving in alignment with the earlier vision of satoshi even if it has gotten better and has reached a far audience than satoshi might have thought it will get to by this time. when dollar was gaining over some local currency, people shifted the way they looked at it from just the point of view of an ordinary currency but rather considered it an asset that can be help for future potential bull. if i want to make a cross boarder transaction, the first thing that comes to my mind is to make use of bitcoin as the easiest and most reliable source and that makes it still in alignment wish satoshi's initial view and plan.

[fikrett]

We should accept and face the fact that today's world only considers bitcoin as a commodity, most countries accept and legalize bitcoin as a commodity. No major country allows people to use bitcoin as a currency and not many people want to use bitcoin as a currency anymore. Most people are only interested in making a profit from it, including you.

To put it bluntly, bitcoin has almost no chance of becoming a currency as it was originally intended to be, things have gone in a completely different direction. And what's more important is that everyone is happy with bitcoin's current role, no one wants to change it.

Bitcoin on the main chain is not suited for smaller, daily transactions anyways (but for bigger purchases that would not be as frequent - sure, why not), so for now, everybody found that investment purpose as the main one simply of how easy and stable it is.
BTC provides that and even more.

[d5000]

If you want bitcoin to become a global currency, you need to take big steps and have regulations that can guarantee that it runs well.

If I understand your idea "regulation" correctly in the sense of a kind of "pact" between distinct countries to refrain from restrictions and limitations to cryptocurrencies and to support its usage (e.g. accepting Bitcoin for taxes from merchants), then I could agree that this could become helpful to transform Bitcoin into a real "currency". I don't think it's really necessary though, I think it can also work without the governments' help.

Such an agreement could be made in the mark of an existing organization like the World Trade Organization. Even better though, it would be interesting if a "pro Bitcoin bloc" of Bitcoin-friendly countries could be created. Such a block could come with an own set of cryptocurrency-related international agreements, e.g. for consumer/investor/merchant protection and so on.

The big question is of course: The only really Bitcoin-friendly country so far is El Salvador, some other relatively friendly ones like Singapore aren't at the same level. Will the US for example join this club as Trump promised? What about European countries (Czech Republic for example)?

[malah]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

Unknowingly many people hold bitcoin and do not fully use it as a purchase or sale transaction, although some people even buy something using bitcoin, but the scope is still quite small.
If you want bitcoin to become a global currency, you need to take big steps and have regulations that can guarantee that it runs well.
But the concept of bitcoin is not like that because the freedom that is embraced will make this asset so perfect with no authority controlling it like fiat currencies.

His vision is still running according to the creator's expectations because bitcoin can still be two functions that fiat currencies have, both as a means of transaction and as savings because currently it is still running according to expectations, although for the issue of legitimate transactions, it is still limited by regulations for several countries.

The technology in the financial sector is advancing and this is seen when it comes to the storage and usage of value. Thus, in the long run, digital assets are developed into the perspective of being a part of the economy. They avail a lot of opportunity to many people to control their wealth and do not have to be associated with the usual organisation. However, the account on the usage of these assets proves that the confidence on decentralised systems remains high. This proves that, in addition to transaction value, there is the existence and management value of assets used in a business. Thus the changes bring in the opportunities that can be enhanced further whereas the fundamentals still remain as they have always been from the start.

[Soloist]

I think this is the main point, considering that we are now entering the modern digital era, where most people now always prioritize digital methods such as digital payments and etc. So I think bitcoin will still be a good asset to choice.

[OcTradism]

Indeed bitcoin is perfect the way it is.

Bitcoin isn't perfect but it is better than other cryptocurrencies have been ever created so far. There are developments to improve Bitcoin for users.
Sidechain Observer - Projects & current state of development

Like I said earlier most persons know bitcoin as a currency with good store value rather than a normal day to day currency for transactions.

Currency and store of value are different use cases of Bitcoin.

Bitcoin was created to avoid trust issues or involvement with a middle man in a business transaction  and till forever I pick bitcoin than any other currency the fact that one can securely make transaction anonymously without anyone noticing is amazing.

Bitcoin is not a privacy blockchain and it does not guarantee your privacy and anonymity. Your practice can help but Bitcoin design don't provide absolute privacy and anonymity for Bitcoin users. This design of Bitcoin can be explained with existence and demand on Bitcoin mixers for better privacy and anonymity.

[hero_the_bossman]

I think this is the main point, considering that we are now entering the modern digital era, where most people now always prioritize digital methods such as digital payments and etc. So I think bitcoin will still be a good asset to choice.

The adoption is key to it.
And it will happen, sooner or later, that everybody is going to crave BTC. As a currency, as for the reserves  - you name it.

[atwd]

OP is right but no one likes to tell the truth. 99% of those who own Bitcoin today do so only to be able to resell it in the future at a higher price.
The purpose of Bitcoin was to be able to replace fiat money so that it would be free from government and inflation.

Certainly Bitcoin at the moment has proven its importance in being able to transfer money abroad, such as to countries under sanctions, thus making citizens free from government restrictions, however, the problem remains. The lightning network cannot be the solution; one has to be indoctrinated to think so.

Perhaps a second currency, linked to BTC, would be needed for use in everyday transactions, unfortunately, however, all past initiatives have always originated against BTC and viewed with disdain by the community.

[john_egbert]

OP is right but no one likes to tell the truth. 99% of those who own Bitcoin today do so only to be able to resell it in the future at a higher price.
The purpose of Bitcoin was to be able to replace fiat money so that it would be free from government and inflation.

Certainly Bitcoin at the moment has proven its importance in being able to transfer money abroad, such as to countries under sanctions, thus making citizens free from government restrictions, however, the problem remains. The lightning network cannot be the solution; one has to be indoctrinated to think so.

Perhaps a second currency, linked to BTC, would be needed for use in everyday transactions, unfortunately, however, all past initiatives have always originated against BTC and viewed with disdain by the community.

That's totally okay to use BTC only for bigger purchases due to the chain being congested otherwise.

Currently, most of us see BTC as an investment - I mean, in a practical sense.
Maybe in the future that would change, however - not for now and this cycle.

[Donneski]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

I quite disagree with your submission that the current view of Bitcoin is far from Satoshi Nakamoto's original aim of creating crypto. Of a truth, using Bitcoin as a means of exchange in all parts of the world is one of the visions of the innovator but that doesn't take away the fact that it was also created to be used as a store of value for investors. There's no doubting the fact that Bitcoin have been used more as a trading and investment platform instead of a a digital currency that can be used to in buying and selling however, I think we are coming to an era where people across the globe will use Bitcoin as a means of exchange - It's already happening in many countries of the world.

[champions]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal.  

Satoshi did not only foster the potential value for bitcoin on payment for an asset view. Let me tell you Op, the attractiveness of bitcoin that has brought it this massive adoption so far is the potential values that users can either trade or invest on it for profits. Exempt this bitcoin would be as common as the traditional currencies. No one will ever care of it is decentralized or digitalized but that profitable value is it main point of attraction but meanwhile using it for payments as subjected has not been ignored rather there are less payment adoptors than income adoptors.

I agree with you. The real attraction of Bitcoin is its value growth and investment potential.  It is not only created as a medium of exchange, but people buy or trade it mainly for profit.  If Bitcoin didn't go up in price, it would be like a normal currency and no one would care. Although it is possible to use it for transactions, very few people actually accept it as payment, as most people see it only as an investment opportunity.

[yudi09]

BTC  People see Bitcoin as an asset, like gold or stocks.  This is very disappointing because in order for Bitcoin to become a global currency and for banks and governments to be excluded from its control, it should be used as money for transactions and buying and selling, not just as something to buy, hold, and sell when its price goes up.  The current view of Bitcoin is far from Satoshi Nakamoto's original goal. 

It has not changed and is still a digital currency that makes it easy for users to make transactions without having to queue like at a bank. If in practice many people use Bitcoin as an asset that is purchased to be stored and then sold when the price is high, for me that is also part of Bitcoin's advantages that must be viewed from a positive perspective in the sense that they understand that Bitcoin can be used for that and most importantly they know Bitcoin is not a scam.