Bitcoin is taking centre stage as an economic protest.

[HustleZ]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

This would be correct if it was just used for its "system" and the decentralization it has to offer. BTC is surely used by many as an alternative to the existing financial but I believe 90 out of 100 users are here just for "profit" and not here to use it as an alternative and the real reason it was created for. Sadly it's just overshadowed by gaining profit and that profit is still cashed out in that "same" system it was made to be used instead of. But till when does profit and appreciation is part of BTC till then it will be used as a money making tool rather than a value storage or complete value ownership or a convenient tool.

[yhiaali3]

I do not consider Bitcoin to be merely a form of protest against a failing centralized system, but a revolutionary decentralized system that completely changes our traditional view of money, a traditional view of money that has been entrenched by centralized governments over many decades.

Therefore, I believe that Bitcoin, in its comprehensive sense, is not merely a protest or resistance to the existing financial system, but rather a comprehensive revolution that completely changes the concepts of money and economics.

[BlackHatCoiner]

I see people confusing the libertarian-view with the number-go-up people, or people who think Bitcoin has become more "institutionalized" and less "cypherpunk", and thus imagine that there is no "protest" anymore.

Very few people understand that the Number-Go-Up is the protest itself. Bitcoin, being able to protect you from inflation, is the protest. Buying bitcoin is an act of self-defense that no protest has ever managed to pull off so effectively in human history.

[Richbased]

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

Yes, i argue this because a large percentage of bitcoin investors adopted bitcoin simply because of its potential value and sustainability in the long term. There are still people who value and use bitcoin as an alternative to fiat just as the main reason for its creation but the truth be told, many users now has an investment motive and not really because of failure from fiat currencies. Regardless of the failure of the financial system that gave rise to the adoption of bitcoin, it does not mean that majority of its holders has intention of using it as a medium of payment (at least not for now).

[Cookdata]

People always try to box Bitcoin into a particular box, but it just wouldn't fit in a box. There is simply no way a currency like Bitcoin won't be valuable, and there is no way a currency would be valuable, and people would not speculate about it or hold it and wait for when they can make a profit from it. I don't understand the constant need to separate these features of Bitcoin. It is the fact that Bitcoin has the characteristics of almost every financial asset that makes it valuable. It is a store of value like gold, it is a speculative asset like stocks, it is a currency like fiat, and it is a commodity like gold. It has all these features, and it is still superior or almost superior to these assets.

Bitcoin understanding is subjective you know, a person that frequently buy Bitcoin to make borderless payment will see Bitcoin as censorship resistance than a person that bought and hold to sell for profit after a while. This are some of the reasons Bitcoin will tend to have different used cases because of versatility productivity. As long as Bitcoin is doing well and people are not complaining about it, they can use it for what benefits them, that's what Satoshi would have want to see Bitcoin doing.

Do you see how Strategy is spending fiat in billions of dollars every 2 weeks to buy Bitcoin, there are other people somewhere looking at him like a person who understands nothing about economics but Micheal knows that in few years to come, there are going to be few coins in circulation which will be chased by many people, he will be the one doing the laughing. You could see Bitcoin ETFs, some people prefer ETF over real Bitcoin, that tells you what they want.

[Myleschetty]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Despite the widespread use of Bitcoin, it's important to remember that 10% of the world's population still owns BTC.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

It is not about the lack of confidence in the institution; it is actually about the lack of centralization of Bitcoin and its consensus which does not align The lack of centralization of Bitcoin and its consensus, which is at odds with the government and institution model of operation, is the real issue, not lack of confidence in institutions.
This is the reason why many institutions are endorsing the Ripple/XRP movement rather than BTC. One thing is certain, though: shitcoin will always be shitcoin, so even with institutional support, Ripple/XRP will never overtake BTC.

[X-ray]

Although some people said bitcoin has shifted from economic protest that is caused by crisis of trust after the economic crisis to just another investment but I believe it's still a form of protest regardless.

There are actually people who believe in the decentralization, no middle men system that bitcoin has and invested to the cypherpunk side of bitcoin.

Downplaying bitcoin to just another asset seems ingenuine even though the reason bitcoin could go this far is because bitcoin is different in a good way (decentralized, borderless, etc) compared to existing financial system.

[legiteum]

Although some people said bitcoin has shifted from economic protest that is caused by crisis of trust after the economic crisis to just another investment but I believe it's still a form of protest regardless.

Again, it's a form of protest in the same way as buying "fair trade" coffee or paper straws or a Tesla Cyber Truck some other product that is associated with your political aspirations. It doesn't actually do any of those things in any way, but it sends a message.

There are actually people who believe in the decentralization, no middle men system that bitcoin has and invested to the cypherpunk side of bitcoin.

They are an extreme minority of BTC holders. Almost all just buy it in order to sell it for more later, and use some centralized system to buy, sell and hold it. They live in the real world.

[kazilunex]

Although some people said bitcoin has shifted from economic protest that is caused by crisis of trust after the economic crisis to just another investment but I believe it's still a form of protest regardless.

There are actually people who believe in the decentralization, no middle men system that bitcoin has and invested to the cypherpunk side of bitcoin.

Downplaying bitcoin to just another asset seems ingenuine even though the reason bitcoin could go this far is because bitcoin is different in a good way (decentralized, borderless, etc) compared to existing financial system.

bitcoin did start with that protest idea, no middlemen, no central control, more freedom in money. Even now, that part is still there for many people. But at the same time, a lot of new users treat it more like an investment now. So I think both are true at the same time, it's still a decentralised idea, but also became a financial asset.

[Marvelockg]

People always try to box Bitcoin into a particular box, but it just wouldn't fit in a box. There is simply no way a currency like Bitcoin won't be valuable, and there is no way a currency would be valuable, and people would not speculate about it or hold it and wait for when they can make a profit from it. I don't understand the constant need to separate these features of Bitcoin. It is the fact that Bitcoin has the characteristics of almost every financial asset that makes it valuable. It is a store of value like gold, it is a speculative asset like stocks, it is a currency like fiat, and it is a commodity like gold. It has all these features, and it is still superior or almost superior to these assets.

Bitcoin understanding is subjective you know, a person that frequently buy Bitcoin to make borderless payment will see Bitcoin as censorship resistance than a person that bought and hold to sell for profit after a while. This are some of the reasons Bitcoin will tend to have different used cases because of versatility productivity. As long as Bitcoin is doing well and people are not complaining about it, they can use it for what benefits them, that's what Satoshi would have want to see Bitcoin doing.

Every discussion around bitcoin revolves around the fact that the value of bitcoin is going higher and that the rate of adoption is also increasing which means that wether your use case of bitcoin is investing while mine is to carry out international transaction, the reason why I can comfortably carry those out is because bitcoin is on the gaining side.

The constant recovery every time bitcoin ever experienced a DIP is a strong protest that has constantly proven investors wrong and as long as bitcoin continues gaining more adoption and it relevance continues to grow, it only means that in the world financial landscape, bitcoin stands tall and strong.

[snowpega]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

Nope, I can not agree with you here. As countries are making such plans that bitcoin and the crypto space help their economy because they know clearly that now it's already too late, and they can not stop it from leading further because the new geneartion is adoption is very fast, institutions, companies, organizations, and investors are adopting it very rapidly, and the demand for bitcoin is increasing day by day. That is why governments are now making such plans that they should design such kind of polices that Bitcoin should be easily fit to boost their economy and their country can grow further without any problem.

For example, we know that the US has already added Bitcoin and some other altcoins to its national strategic reserve. US is not stupid, and they know the growing positive potential of bitcoin and crypto space in the coming future, so why any country will resist against such a technology using which they can grow rather they should design such policies that using this can be benifical for them to boost thier econmy.

[EluguHcman]

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

When it is said that Bitcoin is a financial inclusion draws the conclusion that the utility case of it is beyond the profitability and all that investment aspects but also the fact that it resists regulatory commands but such that is attracted for the fact of its Decentralization consensus with the opposites of the traditional modalities including evaluations of technologies, self custodial right and the cross border payment protocols down to its potential values of hedging values against inflations in the long term.

Of course the profitable property is the psychological side for enthusiasts where you have to be emotionally driven over market sentiment sentiments and speculations.
So not every enthusiasts there all over actually adopts the use of the Bitcoin for making extra income.

Some basically uses it to make payments too.

Just how diverse is Bitcoin.

[Zigabel]

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

You will not be out of place to see Bitcoin as this because it is one of its purpose and so far it has been filling in so well in that aspect. The decentralized nature of Bitcoin gives it that preferential edge against institutions, many for a long time now have really clamoured for an opportunity of actual controll of their assets, and Bitcoin offers that, and  by default making it preferable at all time.

Profitability can just be seen coming in handy to compliment  the usage of Bitcoin but gradually the attention is beginning to shift of their because it is now like a default advantage you get Holding Bitcoin.

The provision of full control via decentralisation which institutions do not offer will always put Bitcoin ahead, institutions at some point have failed to protect its benefactors and so they lost confidence in them but for the few years Bitcoin has been in place, it has given and offered trust and security that builds the trust of most users firmly in them and even gives them the benefits of valuation to their assets kept inform of Bitcoin. It is enough to have all the confidence in Bitcoin as compared to the institutions.

[pawanjain]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

Satoshi wanted to achieve the same thing and people have finally started seeing his view and started embracing it.
The fiat currency is designed to be a failure but many people lack the capability to see that.
Governments are printing money and inflating the economy with no limits but that has to change.
Bitcoin is the solution to that and those who have started accumulating bitcoin are already one step ahead from the others.

[legiteum]

Before Bitcoin, there were (and still are) literally millions of investments one could make that would provide a hedge against currency inflation. Millions of investments that provided the same scarcity that Bitcoin provides. And so on.

Hence it's rather ridiculous to list "hedge against inflation" (which, to be clear, Bitcoin has absolutely not been unless you timed it perfectly) as a prime mover behind Bitcoin's popularity.

It's also utterly juvenile to imagine that Bitcoin could [i[actually[/i] change anything meaningful about the world's economic structures, and after 15 years it hasn't done diddly squat in this regard, and instead it's been absorbed by that system just like any other investment.

HOWEVER, as a meme investment instrument, Bitcoin depends on people believing this and many other mythical things about Bitcoin.

So Bitcoin's actual properties don't affect its price, but people's untethered beliefs about those properties does affect its price.

Hence this conversation is rather circular  .

As a Bitcoin investor, if you believe it and you get a lot of other people to believe it, then you will profit. Will actual physical evidence make any difference in the long run? Who knows...

[Bitcoin_people]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

This is certainly a clear indication that Bitcoin is being used as a silent protest in many cases. Especially in the current era of extreme inflation, the value of local currencies is rapidly decreasing, and people's trust in the banking system is decreasing, and in such a situation, people are looking for alternative trust, where Bitcoin is a silent protest. Basically, the limited supply of Bitcoin cannot be increased even if the government wants to, and no one can track anyone by looking at Bitcoin transactions. This protects the privacy of the individual, so Bitcoin is becoming popular with people. We know that Bitcoin can become a powerful protest towards money, but Bitcoin is not yet a stable solution, but if we think about the future, we can definitely see that Bitcoin will act as a symbol of trust.

[Jubilee58]

Irrespective of how you see Bitcoin's increased popularity, and even it's adoption in various region and countries, one certain feature us that it's looking line a silent protest to a failed economic system

Beyond investment, also integrate the thought that Bitcoin can also be seen as a resistance.

One can argue otherwise, but you can see that a high percentage of users got to adopt Bitcoin as a better alternative to the failure of local currencies, obviously for it's many advantages, irrespective of it's volatile nature.

In this case Bitcoin becomes less about profit, but more about lack of confidence in institutions.

Yeah,  there is no confidence in our institutions. We are all aware that fiat currency is succeptible to inflation and depreciation, and keeping money in fiat currency will only cause you financial relapse. Many people who invest in bitcoin today, do that to sustain the value of their money in the long run.  The federal government in collaboration with the central bank controls fiat currency, and sometimes the policies are not in alliance with the expectation of the people, thereby leading to inflation. But as for Bitcoin, is an hedge against inflation, and decentralization is another quality of bitcoin that makes it very interesting, and the reason why most people prefer Bitcoin to fiat currency.

[Akbarkoe]

I agree more with people who say Bitcoin is a way out of third-party control, the control of something binding.
 
Currently bitcoin has many views that can be articulated with the many functions it has and many uses depending on the user, this is universal in speaking meaning, whether it is an economic protest or not.
 
But clearly I have to have a lot of bitcoins.

[DiMarxist]

This your claim is largely true especially in developing countries were the economy is struggling. People in such areas has seen Bitcoin as a viable option that they can use in escaping the bad economy which they are experiencing. In many area countries of the world Bitcoin is now seen as a business were they can make money and survive, making use of the difference in price that Bitcoin experience. So Bitcoin has grown beyond the point of just using it as a means of payment or even as a store of value. Many people adopts Bitcoin as a form of business.

[Bit-Mj1014]

Whether people realize it or not, opting out of the old and traditional system is a political act. Even if someone buys an etf just for gains, they are still moving liquidity away from the banks and into a protocol that can't be devalued. It’s a silent protest that pays you to participate. But anyways I still think the traditional system should still continue never the less.