Bitcoin Still Fascinates Me

[Cryptomultiplier]

Right now, the global situation is so unstable that national currencies can and already do lose value. That’s why it’s wise to have several alternatives to preserve your purchasing power.

Bitcoin is now a symbol of trust for people in terms of independent transactions and maintaining the value of assets. When people do not trust the conventional monetary system, they have no option but Bitcoin. Currently, all the countries in the world that are not able to transact through dollars due to restrictions can now complete their activities using Bitcoin. Currently, the increase in oil prices has become a major cause of inflation in almost all countries of the world. The prices of all types of stock trading, including real estate trading, are falling. In this adverse situation, Bitcoin is being considered as the only way to maintain the value of assets. Bitcoin is now working as the best alternative for various purposes including transactions, security, and maintaining the value of assets.

Hence why Bitcoin is also known as digital gold. It's value is next to nothing in the world of financial asset management and its use case is one that bridges all borders and corners of the world that is plugged into its system for transactions or holding investment portfolio for either long or short term..

[DiMarxist]

Most people who own Bitcoin today are probably not into the technological aspect of it. Most are coming because of its potential to grow one's money faster. Bitcoin is largely treated as an investment. Others are joining because of Bitcoin's potential to protect their wealth from devaluation.

However, as to Bitcoin being a public storage of information, arbitrary data which could be freely accessed by anybody anytime, would you consider that part of Satoshi's original vision?

I agree with you looking at the use of Bitcoin and it's application in real life, the idea and reason for the creation of Bitcoin is been over looked in place of making money. Today most of the people going into Bitcoin adoption is doing that for the purpose of making profit and self custody which Bitcoin offers.

[JiiBs]

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

Can Bitcoin be further developed really? Aside from update of the on chain data capacity.

Satoshi Nakamoto didn’t really visioned it to be an asset where users would use it for a store of value but in a lot of ways, though not widely stated on the white paper, the founder contributed to this use case of Bitcoin today by actively holding as well.

Are we going to say that’s inconsistent with the original intent or vision or Bitcoin is allowed to have a path of its own.

[Way of a writer]

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

What do you mean by coloured coins? Many coins are fully centralised, they are pretending to be decentralised and they are not, even Ethereum can't deny this today, at first it claimed to be decentralised and later it turned to full proof of stake coin, there are too many examples like this with alternative coins.

Bitcoin that's fully decentralised is affected by ETF and institutions around the world, the centralised authority and power have laid their hands on Bitcoin and today it feels more centralised, even the users who we should trusted are all using Bitcoin like it's centralised, everyone is the reason why decentralised side of Bitcoin isn't working well.

[Donneski]

There's actually a whole lot of untapped potentials in Bitcoin, even more than what we've ever seen since it was launched in2009. Just that there's a serious issue that might affect the usage of Bitcoin and that's the government's involvement. Their participation is raising serious concerns in the Bitcoin community as there's been different forms of regulations from the government that seem to threaten the decentralisation of Bitcoin. I wish that they'll be a proper balance where governments can set reasonable rules without interfering with what makes Bitcoin what it is.

[Sammye3]

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Satoshi's original vision? What would the original vision of Satoshi be? And how is the current bitcoin movement deviating from what Satoshi visualized? I think Bitcoin has being really transparent in its transactions even through the highs and lows, and that should be part of what Satoshi visualized. A system where we own our money,  our keys and full access to our assets, that is the most fascinating aspect of bitcoin.

[BitJannik]

I get why bitcoin still fascinates people, especially if you've seen how it has evolved over the years. What stands out is how people are still just scratching the surface. Most focus on price, but the real idea is having a system where you don't need to trust anyone to verify things. The part about using blockchain beyond just payments is also interesting. It shows bitcoin isn't just money, it's a way to record and prove things without relying on a central authority.

At the same time, I agree there's always a risk when things grow too fast. New developments can sometimes drift away from the original idea. But as long as the core stays the same, giving people control and reducing dependence on centralized systems, I think bitcoin will continue to be relevant for a long time.

[lizarder]

I entered the bitcoin industry in 2013 and although much has changed since then, I still believe the technology has tremendous potential. Infact, most people who own bitcoin today don't seem to even understand it's implications yet.

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

It doesn't matter what year we joined bitcoin, but how we can consistently maintain our involvement so that our assets grow steadily. Not everyone fully understands its implications, perhaps because their focus is solely on the investment stage, so many people may not have read about or understood blockchain. Bitcoin is now a highly regarded asset due to its ever-expanding capabilities and numerous advantages, particularly regarding financial freedom.

Transparency, freedom and the lack of a third party make bitcoin a distinct advantage for those involved, enabling anyone to achieve financial freedom with measurable planning without the assistance of others. This shows something different from assets that have existed before so many people see this as a step or breakthrough that has unique advantages.

[Razmirraz]

Snip.

It doesn't matter what year we joined bitcoin, but how we can consistently maintain our involvement so that our assets grow steadily. Not everyone fully understands its implications, perhaps because their focus is solely on the investment stage, so many people may not have read about or understood blockchain. Bitcoin is now a highly regarded asset due to its ever-expanding capabilities and numerous advantages, particularly regarding financial freedom.

Transparency, freedom and the lack of a third party make bitcoin a distinct advantage for those involved, enabling anyone to achieve financial freedom with measurable planning without the assistance of others. This shows something different from assets that have existed before so many people see this as a step or breakthrough that has unique advantages.

Yes, time is just a number. The important thing is being able to understand the implications, potential, consistent involvement and a deep understanding of Bitcoin and blockchain will be the key to maximizing the asset's potential. So it is not surprising why some investors who have just entered the Bitcoin industry in 2020 and beyond are able to make the right investment decisions because they continue to learn and deepen their understanding of Bitcoin and blockchain technology consistently, they also put full confidence in the appeal of Bitcoin as an asset for financial freedom, so for this reason their motivation is even greater to continue being involved in Bitcoin technology.

You have mentioned the uniqueness of Bitcoin that makes it different from traditional assets, the absence of third parties allows Bitcoin users to have full control over their assets which can increase security and trust. Additionally, the financial freedom that Bitcoin offers is a huge draw for investors, especially those looking to move away from the traditional financial system. I think Bitcoin adoption will increase over time, supported by the advantages you mentioned above, especially since Bitcoin has overcome several major challenges, but its appeal continues to grow.

[goldkingcoiner]

I entered the bitcoin industry in 2013 and although much has changed since then, I still believe the technology has tremendous potential. Infact, most people who own bitcoin today don't seem to even understand it's implications yet.

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

Bitcoin can change because that is in it's nature. Adapt and improvise. And I think that is one of the reasons why it will stay out of centralized control as long as it lives.

Unfortunately, I think we have actually given part of bitcoin to heavy centralization all the name of adoption, today and now, the government has some level of control on bitcoin through ETFs, through centralized exchanges they themselves regulate, and even some of the non-custodial wallets we have today may not be fully non-custodial because they don't want to end up on a government's black book.

We can take bitcoin back to its full decentralized form if we want, but this will require the entire bitcoin community working together, can we boycott all of this centralized exchanges and start trading bitcoin between ourselves in peer to peer form?, can those who patronize ETF companies stop, boycott this companies and start buying the real bitcoin from holders of the real bitcoin through peer to peer trading?
This are the real questions..

Why so glum? Or is this simply an early april fools joke?  

ETF, wallets, centralized exchanges and the government do not have control over Bitcoin. They have a kind of pseudocontrol, which only makes it seem like they have control. If tomorrow every ETF disappears, this will not affect Bitcoin. Only the price of Bitcoin.

Although I do not agree with people that would buy the fake Bitcoin (ETFs) over the real Bitcoin, either way real Bitcoin is being bought. Just by the wrong people, in case of ETFs.

[lionheart78]

Can Bitcoin be further developed really? Aside from update of the on chain data capacity.

Bitcoin is just a code that can be modied any time.  And Bitcoin as been developing non-stop.  As far as I know developers are always suggesting improvements on Bitcoin so we can see Bitcoin to have unlimited potential.  As long as the consensus approve the upgrade, Bitcoin will implement the upgrade even at a cost of hardforking the blockhain protocol rule..

Satoshi Nakamoto didn’t really visioned it to be an asset where users would use it for a store of value but in a lot of ways, though not widely stated on the white paper, the founder contributed to this use case of Bitcoin today by actively holding as well.

I believe Satoshi had seen this event, this is also the reason why he made the code public and can be modified to meet the need of the current demand.

Are we going to say that’s inconsistent with the original intent or vision or Bitcoin is allowed to have a path of its own.

Bitcoin is always been consistent, it is the view of people that give diversion on the function of Bitcoin.

[Jubilee58]

I entered the bitcoin industry in 2013 and although much has changed since then, I still believe the technology has tremendous potential. Infact, most people who own bitcoin today don't seem to even understand it's implications yet.

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

I believe bitcoin is still a fascinating digital currency and a game changer in the financial economy. When we keep our money in the bank, governmental policies controls our money and is important we know that bank uses our own money we put in the bank to run their own business and leaving you the owner with nothing. Bitcoin gives us financial autonomy, a platform where you are solely in control of your money. In addition to this, bitcoin is not just a digital currency but a store of value where long term holding can yield a significant profit.

Bitcoin is widely accepted and gaining widespread adoption too. Bitcoin still holds good potentials and should not be overlooked in any way.

[Ahli38]

I entered the bitcoin industry in 2013 and although much has changed since then, I still believe the technology has tremendous potential. Infact, most people who own bitcoin today don't seem to even understand it's implications yet.

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

Bitcoin is not only still fascinating but will always be fascinating. Bitcoin’s vision is to provide freedom for everyone without the need for a third party. And people should indeed have freedom without being enslaved by a centralized authority. Bitcoin addresses all aspects of this issue. A currency cannot be considered a symbol of freedom as long as there is someone who can control it. So I personally believe that Bitcoin deserves to be considered a currency because it aligns with everyone’s freedom. The tyranny of fiat currency which strips away every person’s right to freedom should be replaced by Bitcoin. We can find many flaws in fiat currency. And we can see the injustices that fiat currency commits, where it's impact people’s lives. But I think Bitcoin has not a single trace of injustice. And I think It's the time for Bitcoin to take on the role of a currency to address these issues.

[Inior]

I entered the bitcoin industry in 2013 and although much has changed since then, I still believe the technology has tremendous potential. Infact, most people who own bitcoin today don't seem to even understand it's implications yet.

The concept of coloured coins/using the blockchain to notarize documents is a game-changer because it does not rely on a centralized authority to maintain. It is a publicly available ledger where no third party need be trusted. With bitcoin we can be our own bank.

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

I'm sure there are lots of persons who haven't still grasp the importance of having a decentralized currency whereby you don't need a third party or a centralized body who has control over your money. Bitcoin is absolutely amazing, and the fact that Satoshi was smart enough to make only 21 million bitcoin to exist and circulate which in turn adds up with the law of scarcity makes bitcoin more interesting to accumulate and hold for long term. Over the years we have seen price increase rapidly because there are more buyers in the market than sellers and the more people see the value increase the more buyers add to the network and the more ATH price breaks

[Z-tight]

and is important we know that bank uses our own money we put in the bank to run their own business and leaving you the owner with nothing.

They don't actually leave you with nothing though, because you can always withdraw your money at anytime, except the bank collapses, which rarely happens. However, depending on the type of account you run, you could also earn a little interest on your money, very small, but something, considering you decided on your own to bank with them.

Bitcoin gives us financial autonomy, a platform where you are solely in control of your money.

Yeah it does. But that's for those who store BTC in the correct way. A lot of people hold their BTC's in custodial platforms and that in my opinion is even far worse than having your money in your bank account.

[Frankolala]

Unfortunately, I think we have actually given part of bitcoin to heavy centralization all the name of adoption, today and now, the government has some level of control on bitcoin through ETFs, through centralized exchanges they themselves regulate, and even some of the non-custodial wallets we have today may not be fully non-custodial because they don't want to end up on a government's black book.

We can take bitcoin back to its full decentralized form if we want, but this will require the entire bitcoin community working together, can we boycott all of this centralized exchanges and start trading bitcoin between ourselves in peer to peer form?, can those who patronize ETF companies stop, boycott this companies and start buying the real bitcoin from holders of the real bitcoin through peer to peer trading?
This are the real questions..

I wouldn't even blame the ETFs or the government but the investors that decided to invest in bitcoin for profits and don't care about preserving bitcoin decentralized nature. A lot of people only care about what the government is involved in and it's those people who are keeping their coins with a third-party because they got into bitcoin because the US government has approved it.

[Hatchy]

Bitcoin has long been popular as a store of value. So, in my opinion, many people now hold Bitcoin to protect their wealth rather than keeping fiat money that will lose value. I believe Bitcoin is now primarily used as an investment asset—buy and hold.

It's already been used in many countries as a means of payment. It all depends on how small or large scale selllers offers it to their customers as a payment method. People still prefer to use bitcoin as an investment plan rather than a means of payment. They consider the process sometimes as lengthy so they just keep fiat instead..

I get ops concern though, but he should be aware that bitcoin is still very much consistent with Satoshi visions. Bitcoin still remains uncontrollable, decentralised. Even if it's not yet fully adopted as a mean of payment, there's till a long way to go..

[vanesha]

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

Making Bitcoin a legitimate currency is not easy. In fact, Bitcoin doesn't originate from any country, even if its creator, Satoshi Nakamoto, is known to be Japanese. This uncertainty makes it difficult for some countries to accept Bitcoin as their national currency. Furthermore, it would restrict the movement of national currencies if Bitcoin achieves its original goal. Therefore, we must consider other solutions to ensure Bitcoin achieves its goals without sacrificing anything.

[Bigjoe33]

One of the risks to bitcoin I see currently is developing the projects in a way that is inconsistent with Satoshi Nakamoto's original vision. It is meant to be an alternative to economic tyranny (Chancellor on Brink of 2nd Bailout For Banks).

Let's use bitcoin to build a new world. A world where access to information is free for those who need it.

Thumbs up OP for starting so early Im started around 2017 4years late than yours. I wonder how many bitcoin you amass during the earlier period.

Well Satoshis Goal is quite simple no third party and use bitcoin for peer to peer. Right now it has a different path or more to say become an asset that is considered valuable like metals which resonate the importance of its value through trading and investment. Maybe we can still find its use once global adoption kicks more but will that be possible for now? Or it will continue ti be like a a very unique asset that is more valued as an investment asset only.

No matter how the situation unfold, whether bitcoin becomes more widely used as a means of payment or remains primarily an investment, it’s still good that it exists, that we know about it, and that we can use it. Right now, the global situation is so unstable that national currencies can and already do lose value. That’s why it’s wise to have several alternatives to preserve your purchasing power.

I think I wld' support this. Just anyhow, Bitcoin is still a blessing and shouldn't be underated at all.

Many people come into Bitcoin for different reasons. Some for store of value, to avoid devaluation, grow there money over the years, some for security and protection, etc. So, the different aims might make us see people work towards achieving there goals and/or reason why they initially came. So, whichever way, I think Bitcoin is still very much great