The legacy of BTC is all in our hands.

[Alonso_]

I do not think the legacy of bitcoin would be considered to be in my hand which is why i am also going to say that we should also consider the legacy of bitcoin to be in the Governments hands, because they are the once who should be more in charge and concerned mostly about bitcoin, i will be mostly interested in bitcoin with buying bitcoin on a regular basis and a good time interval.

Everyone has role to play in helping bitcoin go a far distance, which is why we should never forget to know that the western country also have a role to play when it comes to how bitcoin is regulated, what happens in terms of war and holding back would guarantees and how the economy works is also very important. 

[Agbamoni]

It is true what you say, but it is as if the government and its delegates have this all planned. In order for normal people to acquire a lot of Bitcoin to be in competition with big institutions and the government, we need money to do so. Not just little money, but enough that each individual will have a handful of BTC in their stash.

You don't need to compete with the government, as they have the upper hand to accumulate more than any of us; they also acquire by seizure. The best we can all do is if you don't have enough spare money to buy, you try to save the ones you have and not to sell to them. When we sell our holdings, we transfer our ownership of that Bitcoin to the next person, which could possibly be institutions or governments acquiring it.

It would be foolishness if I ever wanted to compete with the government. I haven't made enough money to think of it.
Unfortunately, a single person can't compete with the government, but if we as holders unite, we can do it. We can take up to 70% of the entire holdings, leaving us with the power and not the government. Of course, big institutions will play a big role in doing so.

[Rockson1]

You don't need to compete with the government, as they have the upper hand to accumulate more than any of us; they also acquire by seizure. The best we can all do is if you don't have enough spare money to buy, you try to save the ones you have and not to sell to them. When we sell our holdings, we transfer our ownership of that Bitcoin to the next person, which could possibly be institutions or governments acquiring it.

I do not think that any person that understands what government means will want to act ignorantly, why will anyone have such thought, the government have they capacity acquire huge amount, infact they can even capture it in their yearly budget if they are very much interested in buying very much, individual acumulation capacity can not be compared to that of  the governmet that is for sure, generally i do not fancy the idea of competition in Bitcoin acumulation, what we all need to investor in Bitcoin is our disreationary income, the reason for that has been over emphasized, @Nwada001, I wish the advise you gave in your last paragraph can be listened to.

[lionheart78]

Do you also believe the legacy of BTC will be determined by the decisions we make now?

It is a collective effort if one wants to make legacy towards BTC.  A single entity cannot determine the future of Bitcoin, but huge groups of people with a single goal can.

As for the thing about Bitcoin helping us to break from the clutches of the government, yes, it can help us, but it would be very difficult.  Today, current events are about the government regulating Bitcoin, and centralized services where Bitcoin is integrated keep us from totally breaking free from the government.  If we want to break free, we should nourish and develop the foundation and spread the use of peer-to-peer transactions coming from non-custodial wallets.  If we are successful in establishing this transaction as normal means of BTC transfers and exchanges, then we can at least keep the noses of these governments out of our Bitcoin funds.

[Numeral]

Most likely, governments and institutional investors will eventually seek to accumulate and control as many bitcoins as possible. This goal is already evident to the naked eye. There is even an unspoken race between governments and states to see who can accumulate the most bitcoins. At the moment, the US, China, and Russia have a lot of bitcoins, but other countries may be able to compete with them in this regard. As individuals, we are unlikely to have any significant influence; we simply do not have as many resources and opportunities as large countries, or even small countries and various corporations.

[suzanne5223]

Bank accounts can be frozen, BTC can't be frozen, it's an excellent hedge, and people don't need to go through KYC to use BTC. But if we never support the idea of self custody, privacy, and don't go for any sort of BTC ETF investment before we know it, the government and institutions will have atleast 71% of BTC in their stack.

You should use an open-source wallet, not close-source and must use your wallet rightly from download, verify, install, creation to backup and recovery.

Agreed. However, just because the wallet is open-source does not mean it is good to go. We also need to research if the wallet source code was verified by someone who has the right computing knowledge.

Bitcoin is already somehow a playground for Trump and his policies. Almost every move and announcement that he makes about tariffs and anything that could be pictured to have a negative effect on the market can affect Bitcoin. Then they already have the manipulative power to play with the market.

It is not the playground of Trump and his policies. However, the tariff manipulation is something that impacts every market because it's one of the fundamental high impact news.
What we do now about self-custody, and privacy will determine if BTC will become his (Trump's) playing ground, especially now that he's planning to create a national trust bank.

[Churchillvv]

Bitcoin is already somehow a playground for Trump and his policies. Almost every move and announcement that he makes about tariffs and anything that could be pictured to have a negative effect on the market can affect Bitcoin. Then they already have the manipulative power to play with the market.

It is not the playground of Trump and his policies. However, the tariff manipulation is something that impacts every market because it's one of the fundamental high impact news.
What we do now about self-custody, and privacy will determine if BTC will become his (Trump's) playing ground, especially now that he's planning to create a national trust bank.

The decentralized system of bitcoin that I know was the fact that such decisions of a government is not supposed to have an effect on bitcoin as bitcoin is always concerned with a government but only global tension or crisis but today one decision by the government can change bitcoin price instantly that shows that trump can joke with bitcoin at any time even claiming that last year will be the crypto year seem like it’s a prove that he can do whatever he chooses. Though with the help of the strong community we can beat that impression.

[AmoreJaz]

Just like several others who are very passionate about bitcoin they try as much as possible to see that bitcoin isn't doing back even with the developments coming around it but some people who are blinded with the going up of the price of bitcoin will never seem to understand that the characteristics of bitcoin will be shifting with the good news of bitcoin and government support towards it, privacy will be lost and decentralisation is gradually going to the in extinction, so it's good with point this out yet not drawing bitcoin back from progress.

Those who are only after for the quick profit will easily get disappointed in this market. But if you happen to understand and see its advantage beyond its high volatility will stay and make the most of it. There are so many ways how to earn from crypto aside from trading.
Just look at here in the forum -
> joining sig campaigns, bounties and other tasks which are paying crypto
> developing a coin, if you are a developer with financial back-up
> setting up a business even a small one and accept btc and other alts
I just don't like people who are using this market to dupe gullible people into investing their crypto-related project and then, disappear once they pocketed money. And we all know, we had a lot of trash projects and maybe up until now. This is why I already stopped a long time ago in investing in new alts. I just stick to btc and top alts.

[Darker45]

The good thing about Bitcoin, unlike governments, is that it doesn't impose its system on people. If you prefer to send your coins to a third-party custodian, the network neither block your transaction nor freeze your funds. You're free to do that. It's your decision.

On the other hand, it also doesn't bow down to the whims of powerful governments. It remains what it is despite regulations. At the end of the day, everybody has the freedom to decide for themselves. But we can always take refuge in the fact that whatever decision people make, Bitcoin isn't necessarily affected. People may choose ETFs, centralized exchanges, IOUs, and the like. It doesn't in any way diminish Bitcoin.

[SilverCryptoBullet]

The good thing about Bitcoin, unlike governments, is that it doesn't impose its system on people. If you prefer to send your coins to a third-party custodian, the network neither block your transaction nor freeze your funds. You're free to do that. It's your decision.

Bitcoin blockchain and network are decentralized and against centralized censorship even MARA pool tried to to this in the past.
Observing Bitcoin mining pools.
Marathon Digital Holdings Becomes the First North American Enterprise Miner to Produce Fully AML and OFAC Compliant Bitcoin.
Marathon Digital Holdings to Launch the First North American-Based Bitcoin Mining Pool, Fully Compliant with U.S. Regulations.

On the other hand, it also doesn't bow down to the whims of powerful governments. It remains what it is despite regulations. At the end of the day, everybody has the freedom to decide for themselves. But we can always take refuge in the fact that whatever decision people make, Bitcoin isn't necessarily affected. People may choose ETFs, centralized exchanges, IOUs, and the like. It doesn't in any way diminish Bitcoin.

Governments are unable to freeze your bitcoins if you store them in your non-custodial wallets. They only can arrest you legally, and seize your bitcoins but this legal action is at a higher level.

With Bitcoin decentralized blockchain and open-source non-custodial wallets, there is no easy arbitrary bitcoin freeze. With people who still use online websites, centralized exchanges and custodial wallets for storing their coins, they must learn about risks and change their practice as soon as possible.

Events made you scare about custodial wallets, centralized exchanges.

[Bobrox]

Agree all opinion from OP and about the necessary the legacy of bitcoin full controlling in our hands, nowadays the government try to make limit for bitcoin can't access by all person and make illegal transaction avoid many people keep use bank as the main place for saving money and make transaction. Government has full power monitoring your money in the bank, how much your transaction in daily and what kinds of your transaction easily monitoring by the government and high risk if suddenly your bank account freeze.

Last year ago, in my country Indonesia many Bank account suddenly freeze because their bank account saving money only not make any out transaction yet. Its why we need to make bitcoin as legacy for the future and give us the freedom never any one yet can freeze our bitcoin assets.

[Ishicryptic]

I agree that the legacy of Bitcoin is in our hands we the bitcoiners and it's also in the hands of everybody including the governments and the institutions, if they are holding more than us there's nothing we can do about it. The more centralized institutions are holding majority of Bitcoin in circulation they will have the upper hand to control it. Bitcoin is decentralized and goes against what every government stands for which is centralization and the only way to have a major say in the Bitcoin market is to hold majority of Bitcoin. The only thing that we can do is buy and hodl as much Bitcoin as we can in none custodial wallets, nobody can take control of the amount that we hold. 

[betswift]

I agree that the legacy of Bitcoin is in our hands we the bitcoiners and it's also in the hands of everybody including the governments and the institutions, if they are holding more than us there's nothing we can do about it. The more centralized institutions are holding majority of Bitcoin in circulation they will have the upper hand to control it. Bitcoin is decentralized and goes against what every government stands for which is centralization and the only way to have a major say in the Bitcoin market is to hold majority of Bitcoin. The only thing that we can do is buy and hodl as much Bitcoin as we can in none custodial wallets, nobody can take control of the amount that we hold. 

If it becomes mainstream, it won't do it without regulations.

Then again, nobody as of now enforces you to do it via the institutions to have the ability to use your BTC at all.

So we will see how it goes out in the years to come.

[suzanne5223]

It is not the playground of Trump and his policies. However, the tariff manipulation is something that impacts every market because it's one of the fundamental high impact news.
What we do now about self-custody, and privacy will determine if BTC will become his (Trump's) playing ground, especially now that he's planning to create a national trust bank.

The decentralized system of bitcoin that I know was the fact that such decisions of a government is not supposed to have an effect on bitcoin as bitcoin is always concerned with a government but only global tension or crisis but today one decision by the government can change bitcoin price instantly that shows that trump can joke with bitcoin at any time even claiming that last year will be the crypto year seem like it’s a prove that he can do whatever he chooses. Though with the help of the strong community we can beat that impression.

I don't know what it is, but it is either that you have a misconception about the decentralization aspect of Bitcoin and market sentiment (which can be triggered by people's emotions, news, and economic factors that significantly influence buying and selling activities in the market).
Market sentiment has nothing to do with Bitcoin decentralization, and if the government sees it as their advantage in the Bitcoin market, there's nothing we can do but use it for our own benefit.
Having said that, the market sentiment is not only global tension and crisis. Once it's major news, it will impact the market, and it does not mean the decentralized aspect of BTC is affected.

[melinoe]

^ I agree.

Global market is just hitting the crypto one in the aftermath, and we all see it on the charts, depending on the event in question.. BTC remains the same either way.

[sleepfirefly]

I believe we don't want the BTC we cherish to become the next playground for government and institutions. I am bringing this to our attention now, just as I did when many people were excited about the positive impact the BTC ETF would have, while I pointed out the negative effects, which seem not to be as important to many people then.

it’s definitely because people are more concerned with the price of bitcoin rising since it’s gone mainstream now probably most people are not concerned with actual privacy that bitcoin brings but moreso about the profit

Do you also believe the legacy of BTC will be determined by the decisions we make now?

Thank you

of course bitcoin is here to stay so it is up to us to decide what the future of bitcoin is because it’s not leaving and our kids and their kids will also be using bitcoin in the future

[Orpichukwu]

Those who are only after for the quick profit will easily get disappointed in this market. But if you happen to understand and see its advantage beyond its high volatility will stay and make the most of it

You are correct since Bitcoin doesn't guarantee fast profit; coming to invest in it with the hope of getting profit quickly will be very disappointing for anyone who has that mentality. Before investing in Bitcoin, sometimes their time of investing might even be the time when the market will start settling, reducing their capital firsthand, which will shift their attention into looking for means to regain what has been left in their portfolio rather than the profit they were expecting.

[Ivystar5]

Just like several others who are very passionate about bitcoin they try as much as possible to see that bitcoin isn't doing back even with the developments coming around it but some people who are blinded with the going up of the price of bitcoin will never seem to understand that the characteristics of bitcoin will be shifting with the good news of bitcoin and government support towards it, privacy will be lost and decentralisation is gradually going to the in extinction, so it's good with point this out yet not drawing bitcoin back from progress.

Those who are only after for the quick profit will easily get disappointed in this market. But if you happen to understand and see its advantage beyond its high volatility will stay and make the most of it

I don't know if you understand what I said but it's not in any way related to what you're talking about, what we are talking about here is the legacy of bitcoin and not quick profit and long term profit, so if you didn't get the concept you could just maybe skip than complicate a thread.

[john_egbert]

Just like several others who are very passionate about bitcoin they try as much as possible to see that bitcoin isn't doing back even with the developments coming around it but some people who are blinded with the going up of the price of bitcoin will never seem to understand that the characteristics of bitcoin will be shifting with the good news of bitcoin and government support towards it, privacy will be lost and decentralisation is gradually going to the in extinction, so it's good with point this out yet not drawing bitcoin back from progress.

Those who are only after for the quick profit will easily get disappointed in this market. But if you happen to understand and see its advantage beyond its high volatility will stay and make the most of it

I don't know if you understand what I said but it's not in any way related to what you're talking about, what we are talking about here is the legacy of bitcoin and not quick profit and long term profit, so if you didn't get the concept you could just maybe skip than complicate a thread.

I wouldn't call it complicating it, rather, going off the rails of the initial topic

[d5000]

Do you also believe the legacy of BTC will be determined by the decisions we make now?

I agree only partly on this.

Of course, if the Bitcoin community was more "aggressive" in promoting and using self-custodial solutions instead of CEXes and ETFs, Bitcoin would be more resilient against government attacks.

But I don't think the current ETF adoption can do that much harm.

I believe from each 10 new Bitcoin users, of whom the majority will use CEXs, ETFs or other derivatives at the start, there will be at least 5 who will migrate later to a self-custodial solution. Either because they stack up their BTC and holding on CEXes becomes simply too risky, or because they actually familiarize themselves with Bitcoin. Everybody who reads one of the well known Bitcoin books will eventually know about the non-custodial solutions. And probably from the remaining Bitcoin users some will migrate later.

So even if currently ETFs and CEXes dominate the picture, it's possible that in the future self-custody, P2P and decentralized solutions will be much more popular. It's however likely to be a slow and gradual evolution.

The only scenario I'm a bit scared about is if too many Bitcoins are added to goverment/central bankers' reserves. This could give governments some power regarding the development, because they could threaten a hard fork if they oppose some decision taken by the devs: if they own too many coins they can threaten to sell their coins on the original chain.