Has Bitcoin lost some of its original simplicity?

[Dan_ekos]

Bitcoin has endless debates. Ranging from price to regulation to ETFs to mining to halving etc….
But sometimes I wonder if we tend to spend too much time discussing the obvious things (just my thought though).
I sometimes feel like there are a few important Bitcoin question are we collectively avoiding or missing.
Maybe it's questions like: “what happens if Bitcoin actually becomes way more successful than it already is🤔?”
For the longest of time, we've dwelt on questions like: “will Bitcoin survive?" Or “can the government ban it's use?" Or “will the price surpass $100k?" And the likes….

But what happens if Bitcoin becomes way more successful than it already is?
What happens when millions or billions of people actually depend on it for their day in and day out activities?
Who or what then would control the infrastructure of such a massive market?
What happens to Bitcoin's decentralisation when big institutions become major holders?
Can Bitcoin remain the same when it becomes a global financial system?


Here is another very uncomfortable questions: “What happens to Bitcoin if younger generations simply don't care about it?”
So I'll throw it to y'all:
What's that Bitcoin question you think the community isn't discussing enough? 👇

[Btcdeybodi]

But what happens if Bitcoin becomes way more successful than it already is?

Maybe you should also ask this question about gold because it has been a valuable and successful asset for a very long time without losing its value. Despite the success and economic value of gold, did it replace the Fiat currency? It didn't. The wrong idea that people keeps having in their mind is that there will come a time when Bitcoin will replace Fiats but it won't, if you are thinking towards that direction you should erase it from you mind because it's not going to happen.

What happens when millions or billions of people actually depend on it for their day in and day out activities?

If millions and billions of people adopts and use Bitcoin as everyday money of course it will cause more scarcity and the value increases.

Who or what then would control the infrastructure of such a massive market?

Bitcoin is not controlled by anyone or any government so if there is massive inflows it will only help to strengthen the bitcoin network.

What happens to Bitcoin's decentralisation when big institutions become major holders?

Big institutions will of course be major holders of bitcoin but did they or will they interfere in your own transactions? No they won't, so it remains decentralised.

Can Bitcoin remain the same when it becomes a global financial system?

Remain the same in which aspect? please explain.

[CryptopreneurBrainboss]

row it to y'all:
What's that Bitcoin question you think the community isn't discussing enough? 👇

Who are the next generation? Is it the Gen Alpha you're referring to because that's what I can think of as we're already seeing decent adoption with Gen Z, they're the ones making Bitcoin trend all over social media although they're more focus on the price than the technology and that's a problem because they're sending the woeng message but still no publicity is bad publicity as we can always correct the impressions when they join the industry (just as we do here on the forum).

There's always a price to pay for global adoption and that's what it's looking like for Bitcoin to be fully adopted as centralization is dominating everywhere although that shouldn't discourage us from using Bitcoin the right way. Bitcoins hasn't lost any of its simplicity in my books as the Bitcoin we had then in 2009, is what we still do have now although there's lots of pressure on Bitcoin to lose it's Identity but I think they won't succeed.

Bitcoin will have to go global it's own way and not what the government are trying to achieve with them being in control through centralization of Bitcoin itself or its service providers.

[OsaiEmma]

Maybe it's questions like: “what happens if Bitcoin actually becomes way more successful than it already is🤔?”

It's going to surprise you, but I'll just say it. The next bull run which will make Bitcoin price see 200k+, will create somewhat of a negative psychological effect in the minds of new investors, this is what I mean: Bitcoin is mostly attractive because the price goes up—most people don't really care about decentralization and whatnot. With a price so high, a lot of new investors will feel they've genuinely missed out on the best time to invest. Now, this will create another ripple effect, massive investment in altcoins, leading to more massive scam incidents and wallet drainage, leading to a loss of trust in cryptocurrency by the masses, leading to another cycle. Hey! I might be wrong too 🤷🏽‍♂️.

What happens when millions or billions of people actually depend on it for their day in and day out activities?
Who or what then would control the infrastructure of such a massive market?
What happens to Bitcoin's decentralisation when big institutions become major holders?

This is what we all want, right? In fact, I'm sure this is where we are eventually heading. Thanks to the institutionalization of Bitcoin, this is no longer a pipe dream. But then again, this will create a more centralized way of using Bitcoin, and here is why: With this type of massive adoption comes massive security breaches, theft, wallet drainage, scams, new technologies prone to vulnerabilities etc. At this point, there will be a need for a structure that can fend off all these attacks—although, the red team is out, but it won't be enough—and, a lot of centralized institutions will emerge. This will create more regulation, more centralization, and more government involvement—yeah, this is where the money is at.

Can Bitcoin remain the same when it becomes a global financial system?

Bitcoin will never remain the same. Yes, the base layer will—decentralization, censorship resistance, nodes, miners, etc—but these alone won't be scalable for such massive adoption and change. This is where L2 (like lightning network) comes in—although, somewhat Centralized—this will help scale the base layer to serve the masses.

Here is another very uncomfortable questions: “What happens to Bitcoin if younger generations simply don't care about it?”

Uncomfortable indeed. But, this can only happen when a new trend steps in. But, even if that's the case, unless Bitcoin fails to become well established—which it already is—then, it will be a relic of the past; but, we all know Bitcoin is already well established, the government, big institutions, and the masses have already adopted it.

[Hypnotizer]

Who or what then would control the infrastructure of such a massive market?

Who controls the infrastructure right now? Nobody because Bitcoin isn’t something that can be “controlled” rather it is being “managed” by everyone in the bitcoin community, that’s why it’s a decentralized currency.

What happens to Bitcoin's decentralisation when big institutions become major holders?

Institutions hold coins not the nodes and miners, so the decentralization would still be there even if they hold much of the coins, because they’ll be more nodes if there’s more adoption.

“What happens to Bitcoin if younger generations simply don't care about it?”

And why will the younger generations not care about a revolutionary technology like bitcoin? Bitcoin opened a whole new view into cryptography and blockchain technology and there are some institutions that are actively researching and teaching these technologies especially blockchain technology to the youths, so..

So I'll throw it to y'all:
What's that Bitcoin question you think the community isn't discussing enough? 👇

Some of these questions you’ve mentioned have obvious answers and for sure there are some questions that the community doesn’t discuss enough but mostly this are far future scenarios and bitcoin evolves with time meaning the discussions and decisions surrounding bitcoin ecosystem about those issue will arise when it it necessary.

[Joy- maker]

But what happens if Bitcoin becomes way more successful than it already is?

Bitcoin is successful already, so I don't know what you are expecting again from Bitcoin. As a matter of fact, Bitcoin will continue to grow and reach more ATHs in the future, but when it comes to being successful Bitcoin has already achieved that status a long time ago.

What happens when millions or billions of people actually depend on it for their day in and day out activities?

Secondly, nobody knows what will happen when Bitcoin becomes everyday money for our daily spending, but I doubt if Bitcoin will become every day money because of it volatile nature. For a currency to be used  for every day spending it has be stable and Bitcoin's price fluctuation make that difficult.

[Odogwu-Blockchain]

There is a topic in the Bitcoin discussion board about Bitcoin been a manipulative system by big players, saying Bitcoin can never be used for mass adoption but only has a repetitive cycle that favours these whales while those who benefits from it are lucky enough.

And yes, many are starting to question the mass adoption features because an assets that can be approved to be accepted by the world can't have a price fluctuation features that disrupt the peace of holders. A widely accepted and adopted currency or asset must be bring peace and not chaos or a challenging period that only a 4 year cycle can correct, what if holder can't wait?

Truth be told, the only way of handling what fluctuates this way is by consistent DCA, and not having the mind to be used as a global mass adoption type of thing.

[JimaGod]

row it to y'all:
What's that Bitcoin question you think the community isn't discussing enough? 👇

Bitcoin is universal and nobody can change the facts that comes with it, we're only here to learn about the basis of the market inother to adopt Bitcoin because there are so much more to explore in the market. Besides Bitcoin is not only project in the market, there are other projects that will yield profits.

Do you think the community is not advancing? I do think the community is not talking about the security of their portfolio, the exchanges to make good use because they paid too much attention directed to Bitcoin, how they're going to be profitable in the market and how can one become profitable if they don't grab opportunities in Bitcoin?

The new generation is not stressed because they're so much enticed with information and they entirely know how the market functions,they just have to stay locked in inother to achieve their goals because so much already accumulated and so much out there to learn.

[Bitcoin-Forever]

But what happens if Bitcoin becomes way more successful than it already is?

Bitcoin has already been successful and we have been seeing a number of things that determines how this could go far both now and in the future, bitcoin remains a valuable assets and will always make investors profitable, there is still more ahead to expect from bitcoin adoption massively because people are getting to know more about it to this day and the future is more secured over it adoption as long as the network to maintain it consensus.

[Kelward]

Make we no de too much worry ourselves about wetin Bitcoin market go be in di future because we know say im get di potentials to de reach ATH based on increasing adoption and trust. Di important thing to note be say Bitcoin no go fit to change from wetin Satoshi create an to be and dat na decentralization and finite supply, as long as dis two features remain intact every other matters na secondary. E no matter how much Bitcoin whales and institutions dem hold Bitcoin e no fit to become a centralized money and asset for dem hand, di most wey dem go do na to de manipulate price now and then based on dem ability to de accumulate and dumb massively. My only concern for Bitcoin matter be say most of us de hold am for profit sake, if many small businesses go de accept am and a lot of holders go de willing to spend am e go make a lot of sense as e go increase adoption and usage.

[Mia Chloe]

~snip

The fact is you actually do not need a lengthy analysis to be able to tell that the adoption rate for crypto generally is increasing rapidly plus generations to come will hardly forfeit it especially owing to the fact that we are in a digital era and trend. The question you should asking specifically for bitcoin is the concentration on its distinct versatility.

Initially when satoshi created Bitcoin he actually had the intention of a P2P cash system however today that idea is almost barely focused on compared to bitcoin being an actual crypto asset instead. Is it still a problem? Nope.. but you can't ignore it's possible effects as time passes.

[Emjay24]

Who or what then would control the infrastructure of such a massive market?

Welcome to decentralization, bitcoin is already an infrastructure which doesn't require someone to control it, the control is in the code. Bitcoin market is already massive and keeps getting better, there would never be a time an entity would be required to control it.

What happens to Bitcoin's decentralisation when big institutions become major holders?

I would ask you the same question now, since institutions are already major holders, ETFs holds hundreds of thousands of bitcoin, Strategy holds over 850K BTC, so what do you think? We know centralization appears like it is winning, but those who love decentralization still practices it, bitcoin was meant to be used in a decentralized manner.

“What happens to Bitcoin if younger generations simply don't care about it?”

They do care a lot about it, just that most younger guys don't understand it for what it really is, they just want to buy it low and sell it high for instant profits

[CryptopreneurBrainboss]

They do care a lot about it, just that most younger guys don't understand it for what it really is, they just want to buy it low and sell it high for instant profits

What's Bitcoin? It's a P2P/decentralized cryptocurrency that's the main definition of Bitcoin which is a currency so any other thing is secondary and becomes benefits that comes from owing Bitcoin.

If the youths are buying and selling Bitcoin then they're actually making use of it than those that are just holding without making use of it at all. This doesn't encourage adoption but instead the buying and selling does so don't say they're using it wrong instead you can say their intentions are wrong as Bitcoin isn't a quick money schemes and hodling it makes better profits than trying to flop it for profits.

The young generations are really doing more  to the growth of Bitcoin (but that'll also come with its negative side) than what the older generations did as we have more of them criticizing Bitcoin than showing much interest.

[Cryptomultiplier]

Bitcoin has endless debates. Ranging from price to regulation to ETFs to mining to halving etc….
But sometimes I wonder if we tend to spend too much time discussing the obvious things (just my thought though).
I sometimes feel like there are a few important Bitcoin question are we collectively avoiding or missing.
Maybe it's questions like: “what happens if Bitcoin actually becomes way more successful than it already is🤔?”
For the longest of time, we've dwelt on questions like: “will Bitcoin survive?" Or “can the government ban it's use?" Or “will the price surpass $100k?" And the likes….

But what happens if Bitcoin becomes way more successful than it already is?
What happens when millions or billions of people actually depend on it for their day in and day out activities?
Who or what then would control the infrastructure of such a massive market?
What happens to Bitcoin's decentralisation when big institutions become major holders?
Can Bitcoin remain the same when it becomes a global financial system?


Here is another very uncomfortable questions: “What happens to Bitcoin if younger generations simply don't care about it?”
So I'll throw it to y'all:
What's that Bitcoin question you think the community isn't discussing enough? 👇

One of the main reasons why Bitcoin is successful today is because so many people use it and value it and hence, trade with it and if the younger generations lose interest in it because it isn't a get rich quick investment as they thought, the continuous usage reduces because it would be left for the older users of whom majority still have doubts, but one thing remains that Bitcoin thrives on the belief people have for it and their active usage of it and that's why it would continue to thrive.

Also, when the usage of Bitcoin increases to include a large percentage of the world population, it's necessary to see transaction fees increase and more adoption of layer 2 solutions that includes CEX services with cheaper fees and with more control over your coins.
By then only big pocket investors and wealthy retail individuals would be able to afford self soverignty on the decentralized blockchain network.

[MainIbem]

Concerning your last question, i doubt if people would disregard something with lots of potential of being more valuable in future, when they get to understand it they'll embrace it just like we've done, imagine Bitcoin going to $500k othey  $1m in the future do you think they'll take it less seriously after knowing that it was once worth lower than that price? Bitcoin has a historical prove that people can't overlook when find out, so the chances of the younger generations embracing it is higher so far the coin remains valuable.

[Bryan jessy]

If more individuals depend on Bitcoin for almost everyday transactions the value of Bitcoin will increase to meet the demand at that point in time, and as for younger generation having lack of interest on Bitcoin which is unlikely to happen because younger generation are even the ones operating and making use of Bitcoin today so I really do not believe that Bitcoin adoption will  depreciate over time but rather it will appreciate because more persons will adopt Bitcoin, and what makes it more unique from other cryptocurrencies is the exact features that is attracting people to it, even if Bitcoin becomes general accepted it can never be controlled by anyone.

[Padi24]

Concerning your last question, I doubt if people would disregard something with lots of potential of being more valuable in future, when they get to understand it they'll embrace it just like we've done, imagine Bitcoin going to $500k othey  $1m in the future do you think they'll take it less seriously after knowing that it was once worth lower than that price? Bitcoin has a historical prove that people can't overlook when find out, so the chances of the younger generations embracing it is higher so far the coin remains valuable.

Well, there's no point of doubting because currently now many people don't believe in bitcoin. they still sees Bitcoin as a scam I mean something that will crash anytime. And of course I don't blame them for saying that because the future of Bitcoin is not guaranteed, we don't know the condition that it will be in the next 3 years. But from the chart I believe Bitcoin still have potential to do more in the future. That is the more reason why we need to give it a trial at least even if it requires putting a very small amount of money it is better off than not putting any damn.

[MainIbem]

...

Well, there's no point of doubting because currently now many people don't believe in bitcoin. they still sees Bitcoin as a scam I mean something that will crash anytime. And of course I don't blame them for saying that because the future of Bitcoin is not guaranteed, we don't know the condition that it will be in the next 3 years. but from the chart I believe Bitcoin still have potential to do more in the future. That is the more reason why we need to give it a trial at least even if it requires putting a very small amount of money it is better off than not putting any damn.

That's what i was talking about, people would only invest in something with potential and Bitcoin has both historical prove and potential to do better in the future so it’s something that more people would embrace. Hope you saw how more people adopted it when it got over $100k, if Bitcoin goes higher than that i believe that other people who doubted and referred to it as scam would have a second thought and see reasons to adopt it. Using the discretionary funds is lime a risk management process cause you're not putting money meant for important expenses.

[Franklyn-wood]

Concerning your last question, I doubt if people would disregard something with lots of potential of being more valuable in future, when they get to understand it they'll embrace it just like we've done, imagine Bitcoin going to $500k othey  $1m in the future do you think they'll take it less seriously after knowing that it was once worth lower than that price? Bitcoin has a historical prove that people can't overlook when find out, so the chances of the younger generations embracing it is higher so far the coin remains valuable.

Well, there's no point of doubting because currently now many people don't believe in bitcoin. they still sees Bitcoin as a scam I mean something that will crash anytime. And of course I don't blame them for saying that because the future of Bitcoin is not guaranteed, we don't know the condition that it will be in the next 3 years. But from the chart I believe Bitcoin still have potential to do more in the future. That is the more reason why we need to give it a trial at least even if it requires putting a very small amount of money it is better off than not putting any damn.

One thing is sure that even if we don't Bitcoin goes above it current price, there will still be people who have at one point or the other missed out the opportunity to join at the early time when it was still very cheap, but because of the speculation out then and the fact that Bitcoin was new and people where afraid of losing there funds and fear of the future if Bitcoin and the decentralalized nature.
There are more generation to enjoy the benefits from Bitcoin as an investment that wound turn ones life around.

[Odusko]

If more people adopt it, scarcity become intense and the price will go really high to the extent that some low-income classes will find it hard to get a portion of bitcoin,  and the last question about young people not getting interest in bitcoin in the future, we won't get to that extent the adoption may lower if that happens, but not totally off the market because you got be fine an alternative.
More activities equal more mainstream engagement with bitcoin for daily usage for service and bills payment.