Are we trying to solve an unsolvable problem?

[defau1tuser0]

Bitcoin which was meant to be decentralized, most people are using it through centralized mediums.

As most people(I think) have bought bitcoin through centralized institutions i.e. Coinbase, Binance, etc.

This current fall of bitcoin's price is like a great filter. Filtering those who joined us for quick big gains not for what Bitcoin stands for. Now that it's easier for such people to move on to gambling market for quick money, they have dropped out of bitcoin.

Not all problems can be solved by just better programming, The issue we are trying to fix is SOCIAL one at it's root. While we are trying to make a better tool(decentralized, scares... digital currency) to help us solve it, a weapon is only as strong as it's Wielder.

For me what makes me wanna join Bitcoin(and I hope I can do my best) is that it is a very new concept for people and change takes time(Though they do show how internet took off in such short period of time while bitcoin still has to proof what it has promised). The hope that things will change, people will change and one day when they need such tool they don't have to create one from scratch.

In mean time let's do our best to improve it. Issues like how to make mining sustainable? especially since it's constantly halving, and I'm not just talking about after year 2140 but TODAY as some of the mining data centers are shifting to being data centers for AI,
Making it quantum resistance if need be, etc.

Let's see what future has store for us.

[noorman0]

In mean time let's do our best to improve it. Issues like how to make mining sustainable?

As long as there's demand for Bitcoin and energy is cheap worldwide, there will always be miners. I even think that one day mining becomes completely unprofitable; the hash rate drops, the difficulty drops, then mining becomes profitable again for those who remain, and so on. Lol.

That's not a bug, it's a feature.

[Don Pedro Dinero]

The next time you create a thread, it's best to focus on one main point, otherwise the conversation becomes too heterogeneous. You talk about centralisation, price and mining.

Regarding the point that I believe would be the most important, no one has been forced at gunpoint to use CEX and other centralised entities, but I don't see that as an unsolvable problem. Rather, for many people, Bitcoin offers a solution to a problem that many people don't really care about. What has attracted the masses to Bitcoin is the price, the possibility of getting rich with it.

[FortuneFollower]

You can just buy BTC if you don't want to mine.

BTW, your nickname is.. interesting choice, to say the least.

[Dave1]

Not all problems can be solved by just better programming, The issue we are trying to fix is SOCIAL one at it's root. While we are trying to make a better tool(decentralized, scares... digital currency) to help us solve it, a weapon is only as strong as it's Wielder.

Who says Bitcoin was created by Satoshi to fix or solve social problem? It's not, it's just one options for people to used. He didn't forced us or anything to have his creation be the untapped tool like a magic bean that will grow and then solve all of mankind's problem.

So your argument is flaw in the beginning and it seems that you didn't understand what Bitcoin is. I urge you to go back and read the white paper again.

https://bitcoin.org/bitcoin.pdf

[FortuneFollower]

Not all problems can be solved by just better programming, The issue we are trying to fix is SOCIAL one at it's root. While we are trying to make a better tool(decentralized, scares... digital currency) to help us solve it, a weapon is only as strong as it's Wielder.

Who says Bitcoin was created by Satoshi to fix or solve social problem? It's not, it's just one options for people to used. He didn't forced us or anything to have his creation be the untapped tool like a magic bean that will grow and then solve all of mankind's problem.

So your argument is flaw in the beginning and it seems that you didn't understand what Bitcoin is. I urge you to go back and read the white paper again.

https://bitcoin.org/bitcoin.pdf

It's about giving an alternative to those who want to use it.

[Hazink]

Regarding the point that I believe would be the most important, no one has been forced at gunpoint to use CEX and other centralised entities, but I don't see that as an unsolvable problem. Rather, for many people, Bitcoin offers a solution to a problem that many people don't really care about. What has attracted the masses to Bitcoin is the price, the possibility of getting rich with it.

Price has attracted the masses to Bitcoin, not security, and not freedom, which is why most of them don't care about privacy and use a centralized exchange to buy and hold their coins. It's just a personal problem for those who choose to entrust their coins with the exchange and not a general problem like the OP is trying to make it look.
But if KYC policies keep on increasing and the government keeps pushing for stricter regulation, it might come to a point where buying bitcoin using other sources might appear to be a crime, as it might be labeled as someone who has something to hide.

[Z-tight]

What exactly do you think should be solved? You have not clearly stated it in the op, or maybe i missed it, did i? If you are referring solely to people using centralized platforms, then that is not a flaw, neither is it something that needs solving. What BTC users decide to do with their coins has nothing to do with BTC in itself. Their keys, their coins.

This current fall of bitcoin's price is like a great filter. Filtering those who joined us for quick big gains not for what Bitcoin stands for. Now that it's easier for such people to move on to gambling market for quick money, they have dropped out of bitcoin.

Weak hands would always be a part of the network, there is nothing you or i can do about it. There would be people who come for quick gains and sell as soon as the price drops or there is news of fud. The good thing is that with time weak hands get smaller, so yeah.

[Somegory]

In mean time let's do our best to improve it. Issues like how to make mining sustainable?

As long as there's demand for Bitcoin and energy is cheap worldwide, there will always be miners. I even think that one day mining becomes completely unprofitable; the hash rate drops, the difficulty drops, then mining becomes profitable again for those who remain, and so on. Lol.

That's not a bug, it's a feature.

We can not ignore the fact that Bitcoin mining is no longer meant for average people, it's costly to run Bitcoin mining right now, even if you have cheap energy Asic miners aren't cheap.The simplest thing that average people can do this days is to buy Bitcoin, 1 BTC consists of millions satoshis, they don't have to buying 1 BTC, all they need is small part of 1 BTC and they are good.

Bitcoin mining is not easy, it is something that group of people come together using their funds to start, gone are those days that average people can use graphics cards or CPUs to mine Bitcoin.

For mining difficulty to drop significantly to the extent that mining becomes profitable again? That's definitely going to be one of a kind event, something that can make people and miners give up on Bitcoin totally for a while, I wonder what that could be.

[noorman0]

The simplest thing that average people can do this days is to buy Bitcoin, 1 BTC consists of millions satoshis, they don't have to buying 1 BTC, all they need is small part of 1 BTC and they are good.

The OP's point is to understand the correct steps to acquire bitcoin while maintaining its decentralization. In reality, some people don't really want to use decentralized services because they're too complicated, expensive, and high-risk. Furthermore, more people are investing in them for volatility, not benefits.

[Potato Chips]

In reality, these centralized platforms are the easiest way to onboard folks as oppose to decentralized ones that typically has a learning curve. Though without the constant regulatory pressure and crackdowns, perhaps they could've had friendlier terms and/or more privacy friendly CEX would show up.

TBH, what people do with their bitcoins, whether it's for quick gains or whatnot is out of our control. We will always have different types of folks in the community. I wouldn't worry about it. Feels like a waste of energy.