Has Bitcoin sold its soul to speculation?

[Donneski]

Speculation has always been part of any valuable asset’s journey and you have to also note that it’s human nature to chase profit. However, I don’t think that automatically means Bitcoin has “sold its soul.” Yes, the noise from price predictions and trading hype often overshadows the deeper conversation about decentralization and self-sovereignty.

But the last time I checked, the fundamentals haven’t changed, Bitcoin still works the same way it did when it was created. What I think is really missing is more focus and investment in building tools, services, and integrations that let people use Bitcoin in their daily lives. If we push in that direction, speculation won’t kill the vision instead it will just be the background noise.

[MusaPk]

Speculation has always been part of any valuable asset’s journey and you have to also note that it’s human nature to chase profit. However, I don’t think that automatically means Bitcoin has “sold its soul.” Yes, the noise from price predictions and trading hype often overshadows the deeper conversation about decentralization and self-sovereignty.

There are so may speculations about Bitcoin all the time and important question is does all these come true? I think majority of speculations about Bitcoin go wrong since bitcoin has it's own way of moving. A classical example dates back to Dec 2017, when price of Bitcoin was at it's ATH of 19k and their were predictions that it will be 100k in 2028 but in Dec 2018 we saw price of Bitcoin went down to 3500$.

There are hundreds and thousands of speculations about Bitcoin at a time, if one or two go true it doesn't mean Bitcoin has "sold his soul" to speculations.

[lionheart78]

I believe everything is built around speculation.  There is no development if there is no speculation; every new idea and invention, systems are built with speculation.  I do not think that Bitcoin has sold its soul to speculation, but rather it has been part of its soul.

This is also the reason there are lots of people coming from different walks of life who come to Bitcoin. They wanted to explore this speculation, verify it, and possibly gain a reward/benefit by taking advantage of this feature.  This is not limited to the market price of Bitcoin but also to the technology, philosophy, and application of Bitcoin.

Just like what @buwaytress stated, if one day the speculation within Bitcoin is proven to be unrealistic, then Bitcoin will eventually be forgotten.

[Marvelockg]

So I decided to create my account to ask you guys, if you think BTC true potential, of giving individuals financial independence and direct control without relying on banks or large institutions, is being undermined by speculation and the lack of real-world applications?

A lack of real wrld application you say? that alone denies your earlier statement that you are an holder of bitcoin that believes in it decentrlization. crtainly, the hype about bitcoin and the speculation on what it next price will be is just what it is because of the potential that holders have on it. as long as investors look at bitcoin from the point of view of being profitable at it, they are going to continue speculating bitcoin price and as adoption also increses, the fact still remains that bitcoins relevant as a means of solving global financial problem will still remain top at the conversation of the usefulness of bitcoin.

you can't stop speculation since it is coming from multiple angle. it is either those that are bullish about bitcoin continues to hype it and reemphasize the need for it adoption or that those that are agaisnt it try to be bearish about there speculation which is going to lead to moreconversation on what bitcoin next price will be. with that and the FOMO that newbie investors experience, bitcoin still remains a relevant asset not just in the now but also in the future to come.

[di4biz]

A lack of real wrld application you say? that alone denies your earlier statement that you are an holder of bitcoin that believes in it decentrlization. crtainly, the hype about bitcoin and the speculation on what it next price will be is just what it is because of the potential that holders have on it. as long as investors look at bitcoin from the point of view of being profitable at it, they are going to continue speculating bitcoin price and as adoption also increses, the fact still remains that bitcoins relevant as a means of solving global financial problem will still remain top at the conversation of the usefulness of bitcoin.

you can't stop speculation since it is coming from multiple angle. it is either those that are bullish about bitcoin continues to hype it and reemphasize the need for it adoption or that those that are agaisnt it try to be bearish about there speculation which is going to lead to moreconversation on what bitcoin next price will be. with that and the FOMO that newbie investors experience, bitcoin still remains a relevant asset not just in the now but also in the future to come.

Holding BTC and believing in decentralization doesn’t mean I have to ignore its lack of real-world applications. In fact, it’s because I believe in it that I want to see it used more actively. Speculation will always exist, but freedom also means pushing for its use beyond just price hype.

[coolcoinz]

How is it undermined by speculation? Do you know that there are statistics showing how much bitcoin is on exchanges? For many years this has been dropping and is currently around 2.2m, so only 10% of all bitcoin in existence is used for short term speculation. You can see the graph here: https://www.coinglass.com/Balance

Should the majority really care what the minority is doing? Let them speculate if they want.

[Mate2237]

A lack of real wrld application you say? that alone denies your earlier statement that you are an holder of bitcoin that believes in it decentrlization. crtainly, the hype about bitcoin and the speculation on what it next price will be is just what it is because of the potential that holders have on it. as long as investors look at bitcoin from the point of view of being profitable at it, they are going to continue speculating bitcoin price and as adoption also increses, the fact still remains that bitcoins relevant as a means of solving global financial problem will still remain top at the conversation of the usefulness of bitcoin.

you can't stop speculation since it is coming from multiple angle. it is either those that are bullish about bitcoin continues to hype it and reemphasize the need for it adoption or that those that are agaisnt it try to be bearish about there speculation which is going to lead to moreconversation on what bitcoin next price will be. with that and the FOMO that newbie investors experience, bitcoin still remains a relevant asset not just in the now but also in the future to come.

Holding BTC and believing in decentralization doesn’t mean I have to ignore its lack of real-world applications. In fact, it’s because I believe in it that I want to see it used more actively. Speculation will always exist, but freedom also means pushing for its use beyond just price hype.

What real world applications are you referring to Bitcoin was designed to serve a purpose by the originator of Bitcoin and that was to server as a store of value where people can use it as a digital currency.



I think that you should get this straight first because if you should talk about real world applications Bitcoin that Bitcoin was designed to solve a problem first it's just now that people are getting to see the opportunities that Bitcoin holds that is why Bitcoin has become a big time business or assets that people are rushing to own and for the information Bitcoin has come too far for anyone to be hyping it or run on speculation Bitcoin trajectory or growth profile is there for anyone to fact check

[Alpha Marine]

I feel that bitcoin has less spending places. Currently only casinos and exchanges and those who buy gift cards to spend on merchants. The remaining portion goes into speculation, long term holding.

If things change such that merchants are accepting bitcoin directly, a lot of things will change. Firstly the price will go haywire and the secondly the speculation will come under a lid.

People always try to make it seem like it's an abomination for bitcoin to be a speculative asset and hold it instead of using it as a currency. I don't understand the obsession.
Less than 4% of the world population holds bitcoin, and even fewer than that accept bitcoin as payment, so how are we supposed to use it as a currency? Or do they insinuate that we shouldn't hold bitcoin since there is no way to use it as a currency? If I go to a place that accepts bitcoin, I would gladly pay with bitcoin, but I've not seen any.

Bitcoin can be a speculative asset and still be a currency at the same time. With more growth and adoption, more people will begin to accept bitcoin as a currency, and people will gladly pay with it.
Satoshi is the biggest holder of Bitcoin, so how can it lose its soul if the creator is holding it?
Folks applaud people like Michael Salor and turn around to say that bitcoin has lost its soul.

[Zlantann]

I agree that speculation is part of the freedom BTC gives. My point is, if 90% of people only see it as a quick-profit asset, we’re wasting its potential as a driver for business and real financial independence.

Bitcoin is not like altcoins, so having a get rich quick mentality while investing in Bitcoin might backfire. Bitcoin is profitable when it is given a long term approach. And I am sure that majority of members in this forum knows that Bitcoin is a long term investment.

Holding BTC and believing in decentralization doesn’t mean I have to ignore its lack of real-world applications. In fact, it’s because I believe in it that I want to see it used more actively. Speculation will always exist, but freedom also means pushing for its use beyond just price hype.

It's a good deed to push for the use of Bitcoin as a currency. So many individuals and businesses are using and accepting Bitcoin because they want to promote the currency. But just as you cannot stop anyone from using the dollars the way they like, the same thing applies to Bitcoin. In some countries where there is high inflation, dollars are used as a speculative currency. People will use Bitcoin as the wish, that's the beauty or freedom and decentralization.

[di4biz]

Thanks everyone for the replies, looks like a good title makes all the difference, especially when it’s your first post.

What real world applications are you referring to Bitcoin was designed to serve a purpose by the originator of Bitcoin and that was to server as a store of value where people can use it as a digital currency.

That's true, Bitcoin was designed as digital cash and a store of value! But those are just tools, not the end goal. There are dozens of real-world applications including enabling SMEs to receive cross-border payments instantly without high fees, funding small projects directly from individuals without banks, creating community-based lending systems, paying freelancers globally, supporting merchants in unstable economies where local currency collapses, etc etc. For me that's the beauty of Bitcoin. Store the value, use it as an asset or collateral to build/buy more freedom for your family

[henry_of_skalitz]

How is it undermined by speculation? Do you know that there are statistics showing how much bitcoin is on exchanges? For many years this has been dropping and is currently around 2.2m, so only 10% of all bitcoin in existence is used for short term speculation. You can see the graph here: https://www.coinglass.com/Balance

Should the majority really care what the minority is doing? Let them speculate if they want.

Retailers are still at the helm of hodled BTC, and that's a good thing.

I hope it will stay that way going forward, but I doubt it, seeing what is happening.

[Chilistakes.com]

Thanks everyone for the replies, looks like a good title makes all the difference, especially when it’s your first post.

What real world applications are you referring to Bitcoin was designed to serve a purpose by the originator of Bitcoin and that was to server as a store of value where people can use it as a digital currency.

That's true, Bitcoin was designed as digital cash and a store of value! But those are just tools, not the end goal. There are dozens of real-world applications including enabling SMEs to receive cross-border payments instantly without high fees, funding small projects directly from individuals without banks, creating community-based lending systems, paying freelancers globally, supporting merchants in unstable economies where local currency collapses, etc etc. For me that's the beauty of Bitcoin. Store the value, use it as an asset or collateral to build/buy more freedom for your family

Man,

I usually never reply to these topics, but this comment is so well written.

Cheers, mate 

[fikrett]

Thanks everyone for the replies, looks like a good title makes all the difference, especially when it’s your first post.

What real world applications are you referring to Bitcoin was designed to serve a purpose by the originator of Bitcoin and that was to server as a store of value where people can use it as a digital currency.

That's true, Bitcoin was designed as digital cash and a store of value! But those are just tools, not the end goal. There are dozens of real-world applications including enabling SMEs to receive cross-border payments instantly without high fees, funding small projects directly from individuals without banks, creating community-based lending systems, paying freelancers globally, supporting merchants in unstable economies where local currency collapses, etc etc. For me that's the beauty of Bitcoin. Store the value, use it as an asset or collateral to build/buy more freedom for your family

Man,

I usually never reply to these topics, but this comment is so well written.

Cheers, mate 

OP's comment really shows of what BTC is truly capable of when the time comes (because as of now, surely, it can do all of these things, but not on a scale imagined, imo), it's an alternative for so many spheres and ways of doing things..

[Agbamoni]

.. and the lack of real-world applications?

Did I hear you say "Lack of real world applications"? You are mistaken Bitcoin to some other digital currency.

Bitcoin is already used for international transactions, payment gateways to facilitate sending and receiving of money in business, cross border trade, store of value, and in making donations during crisis without a third man. So, I think you should recheck the statement you made and correct.

[john_egbert]

.. and the lack of real-world applications?

Did I hear you say "Lack of real world applications"? You are mistaken Bitcoin to some other digital currency.

Bitcoin is already used for international transactions, payment gateways to facilitate sending and receiving of money in business, cross border trade, store of value, and in making donations during crisis without a third man. So, I think you should recheck the statement you made and correct.

I do think it's more about not wanting to find some real cases to BTC, other than those that tie up directly to its price, not the abilities it has due to its values that are still upheld.. But that's okay, because we can always learn about these and understand the cases you and others would present.

 

[di4biz]

Man,

I usually never reply to these topics, but this comment is so well written.

Cheers, mate 

OP's comment really shows of what BTC is truly capable of when the time comes (because as of now, surely, it can do all of these things, but not on a scale imagined, imo), it's an alternative for so many spheres and ways of doing things..

Thanks guys

.. and the lack of real-world applications?

Did I hear you say "Lack of real world applications"? You are mistaken Bitcoin to some other digital currency.

Bitcoin is already used for international transactions, payment gateways to facilitate sending and receiving of money in business, cross border trade, store of value, and in making donations during crisis without a third man. So, I think you should recheck the statement you made and correct.

I do think it's more about not wanting to find some real cases to BTC, other than those that tie up directly to its price, not the abilities it has due to its values that are still upheld.. But that's okay, because we can always learn about these and understand the cases you and others would present.

 

I’m aware BTC is already used for that and more. The issue is that most of these use cases are dominated by large companies and 3th parties not by individuals or SMEs, which actually make up the majority of the world’s economy. The potential for Bitcoin is to truly empower small businesses and everyday people to operate independently, and that’s the gap I’m highlighting.

[Wakate]

.. and the lack of real-world applications?

Did I hear you say "Lack of real world applications"? You are mistaken Bitcoin to some other digital currency.

Bitcoin is already used for international transactions, payment gateways to facilitate sending and receiving of money in business, cross border trade, store of value, and in making donations during crisis without a third man. So, I think you should recheck the statement you made and correct.

You don't need to be stressing yourself about the idea some newbies have about Bitcoin. Most of these people don't bother to read that is why they will keep asking funny questions about Bitcoin and how they don't find it too appealing. Everyone has different opinion about Bitcoin and since it's their personal opinion, there is nothing bad about that.
Anyone that still don't understand what really application Bitcoin has should take a quick look at the Bitcoin white paper so that they can have an obvious understanding of what Bitcoin is and some of these applications. It has bring about a revolution that can not be halted.

[avikz]

So I decided to create my account to ask you guys, if you think BTC true potential, of giving individuals financial independence and direct control without relying on banks or large institutions, is being undermined by speculation and the lack of real-world applications?

Welcome to the forum!

If a system exists that can provide financial independence to the individuals. What's wrong in it?

If a system is available to break you free from the banking cartel, what's wrong in it?

If a system is available to bless you with financial anonymity, what's wrong in it?

What other real world applications you are referring to? What else do you need?

Don't you think that providing anonymity, financial independence is enough as great user cases?

[Agbamoni]

You don't need to be stressing yourself about the idea some newbies have about Bitcoin. Most of these people don't bother to read that is why they will keep asking funny questions about Bitcoin and how they don't find it too appealing. Everyone has different opinion about Bitcoin and since it's their personal opinion, there is nothing bad about that.

Who is going to teach the newbies if you dont do that? I see your point but the main reason why we have this knowledge is because someone was willing to share it so its in our position to do some, even if its not mandatory.

Anyone that still don't understand what really application Bitcoin has should take a quick look at the Bitcoin white paper so that they can have an obvious understanding of what Bitcoin is and some of these applications. It has bring about a revolution that can not be halted.

I believe there are more than enough resources online for newbies to learn. Its just that, most of them are reluctant to do research before making assumptions. It wont tear a piece from their flesh.

[red4slash]

So I decided to create my account to ask you guys, if you think BTC true potential, of giving individuals financial independence and direct control without relying on banks or large institutions, is being undermined by speculation and the lack of real-world applications?

In this case, I think it all depends on each person's perspective, but the majority of people here or those who are interested in Bitcoin still have almost the same belief that Bitcoin can change our finances for the better, even if it only refers slightly to financial freedom, but everyone wants to change their finances with Bitcoin as the object.

Regardless of whether the current speculation is one form of freedom, everyone has their own thoughts, and we cannot control others' thoughts, whether they like Bitcoin or the speculation surrounding it or not. In this case, we are all aware that ultimately, this is one form of expression toward something. This includes Bitcoin, as I mentioned earlier, everything depends on perspective, and we express that through the speculation we believe in.