Topic: After all these years (Read 859 times)

Decentralized vs  Centralized? with that alone then you could already tell which one is really that preferable but of course it would really be having that different supporters or investors backing into it.Different coins have different set of OG's on which those people or investors had really been able to trust up those coins in the first days or years of its existence which neither they do have that investment intent or really that supporting into its utility or could be both then it would really be depending on a certain person but what matter the most is that they do cherish out that extreme returns of their investment on the time that they had able to hold for long term.
It is really just that cant be avoided for you to be jealous out of those money that they had able to make on that time. This is why people would really be that mindful in regarding with their investment and holding up for long term but of course it cant be possible on to those top coins that we do have now. It isnt something that could give out 10x or 100x so easily and this is why they would really be opting for altcoins.

One possibility that could lead to this dream of many (for bitcoin to be a bona fide payment system) is for bitcoin to fall in relevance as a store of value, which couldn't happen without the fall of the cryptocurrency industry unless a more capable currency takes it place in the top spot. Once that happens people will generally flock upon a coin for what it's really intended to be used for, which in this case is to process payments peerlessly. I don't think giving bitcoin "enough time" so to speak is going to cause this upturn from happening, it may even drive the store of value aspect even further which will make it even harder for people to realize it could also be used for payments.

Have Bitcoin existed for that long to become a global currency, I don't think so, Bitcoin still needs time to develop and drive its worth in the market before gaining that public attraction that could possibly make it a generally acceptable currency.
Take gold for example since gold is in the same asset category like Bitcoin, gold have exist for a long time now for several generations but yet it has not gained the mainstream adoption Bitcoin is just 14 to 15 years in existence so we need to give it more time before we could possibly see that level of adoption.

One thing you need to know is that those coins or tokens you mentioned are centralized. They are owned and controlled by somebody or some people, so these people make deals and find ways that their coins can go further. Those banks and payment systems that accepted those coins get something out of those deals.

That being said, I believe Bitcoin is growing well. Maybe not as much as we would like it to, but it's growing and that's all that matters. As far as there is growth, the pace shouldn't be a focus. I have made payments with Bitcoin, some services accept Bitcoin. I don't know what but someday Bitcoin will be accepted as a means of payment more than it is today.
I don't know if it will ever be legal tender globally, but I know the adoption as a means of payment will improve over time.

Finally, I don't see a problem if people use Bitcoin as an investment alone. It's an asset after all, what's an asset if it can't be an investment?
Bitcoin is a currency, and currency can be an investment. So there is nothing wrong with Bitcoin being an investment.

Yeah, I know right, the only reason why mentioned XRP it's mentioned in the OP's post. The only thing that can put Both Bitcoin and XRP on the same category is because both are cryptocurrency, but still Bitcoin is decentralized, while XRP was controlled by Ripple, I also don't think that Bitcoin are in anyway comparable to XRP.

Bitcoin is like 13 years old, still nowadays there are people who don't own and/or credit cards despite the fact that have been invented back in 1950. Bank accounts? How many people don't own a bank account? Billions of people. It's going to take a lot of time for adoption to actually spread, and for sure if and when big retailers will accept bitcoin, that could potentially be a game changer.

Just accept this and be contempted with bitcoin, as long as nothing changed about the initial plan for it creation then don't ever expect anything strange or funny to see bitcoin turn to, this digital currency is a decentralized coin that can't be influenced by anyone, it's rather depends on the protocols on which it was developed, bitcoin will always remain a decentralized digital currency, asset and investment with nothing more. 

I'm new here and I can't find where to post a question regarding a trading platform. Maybe you can answer my question or point me in the right direction as to where to post. The question is regarding crydex.cc - have you heard of it? used it?

As long as people can make profits out of Bitcoin investment, they will consider it as an asset. Bitcoin is a multipurpose cryptocurrency. You can use it as an asset or use it as a payment system as it was created. You are the one who will determine what you want to use it as.

Banks and governments will never choose Bitcoin, because it is decentralized. No matter what, they can't control it. And for this reason only, they will never choose Bitcoin as their main choice. There are other factors that are included here too. But they are minor things that XRP and other cryptocurrencies have too. They are not much of a problem.

When all the Bitcoin will be mined, we may see stability in the market. Maybe then people will use it as a payment method rather than an investment asset. But that's a long way to go. Only time will tell.

What I feel is that they have now started doing it publicly, and they must have understood that Bitcoin had great potential a few years ago when it first hit its all-time high of $69k, I'm pretty sure that most of these institutions and individuals that are billionaires or millionaires that might have said bad things about Bitcoin must have started accumulating Bitcoins backstage and not letting anyone know about it as that would make them not look cool.

However, now all the institutions, companies, and influential individuals have started coming out to the public and announcing that they are accumulating Bitcoin and are confident that it will have a greater future and can be used in our benefit which they weren't understand at the beginning.

Is Bitcoin an asset or a payment system? The answer is - both! Bitcoin was created as a peer-to-peer electronic cash system, yes, but its deflationary nature - the halving events you mention - make it an attractive store of value. The 'double-edged sword' lies not in Bitcoin but in our perception of its utility. Lets not forget, Bitcoin transactions are irreversible, offering a level of freedom from traditional financial systems.

As for XRP, its centralized nature makes it a different animal altogether. It can partner with banks because it's designed to be a bridge currency. Different strokes for different folks.

Would I part with my Bitcoin? Depends on the opportunity cost. If the utility of using it as a payment method surpasses holding it as an asset, absolutely. Make sense?

Hey mate
Nothing changes, bitcoin still remains as it is or previous being stated to be the payment system but how we understand it is what matters. Bitcoin is still available to be used but people finds it worthy valuable for to hold as an assets that appreciates overtime and overly, that is why people focused their efforts towards holding bitcoin than another currencies out there and besides is XRP it a decentralized finance?
So they are free to go into partnering with any bank or whatsoever for quicker payment mothed. You can still use bitcoin as a payment method nothing stops you or limits you, originally bitcoin was being created to be as alternative means of payment the people around changes the whole concepts to as an investment tools that would keep generating money at completing its halving. At this point would you accept to release the little bitcoin you are holding if I may asked you?

I wonder what were the achievement of these two altcoins?  Is it far from the achievement of Bitcoin? If yes, why are these two altcoins still below the dominance of Bitcoin?  Aside from that it is in contrast with the idea of P2P if Bitcoin is to entrust its ecosystem to banks.  Since Bitcoin promotes freedom in transactions, I don't think there is a need to partner with banks since it will hinder the growth and promulgation of the concept Bitcoin is aiming to provide.  Aside from that XRP developers had been milking their supporters for years through their monthly unlocking of XRP holdings to sell in the market.

I don't even know how these 2 can be compared. We all know what the Bitcoin is, but I think many are confused about what XRP is. XRP =/= Ripple. Ripple is a global payments network offering multiple solutions, but some of them don't require any use of the XRP token at all. So it's entirely possible that Ripple can achieve global success and yet XRP could fall to zero.
That's the risk of investing in cryptos that promise to be the new cutting-edge tech - you never know how will that pan out, plus, there will always be newer projects promising even better things.

I don't have the data but I doubt that XRP is any close to become more mainstream than Bitcoin as a global currency. Since the very first time, I think everyone would know that making Bitcoin a global currency that is agreed by all government in the world and unionize them is very radical idea. It would need an extreme level of political will of every governments to agree to accept something that is not controlled by single entity as a common currency for all, currency means power, we can see how US dominate politic and economy with USD, and we are now watching how China are trying to take those throne on USD with their RNB.

My point is, the worst could happened, Bitcoin may still be an investment in 10 or 20 years or even we may will not see, in our lifetime that Bitcoin become global common currency, but at least we are some of few people who are trying to start a decentralized currency that we all agreed is better than the current centralized system.

It's volatility is also one of the factor that causes Bitcoin to be used as mode of payment. Due to its value changes from time to time, people tend to take advantage of that situation making Bitcoin much suitable for investment but we all know that Bitcoin were made to become an alternate currency. It's decentralized feature is not the only reason why most of the country banned it, since it's also consider as a threat to their currency that might cause chaos to the current economic status. Of course in a country if they having a hard time to manipulate something they wouldn't allowed it. With that reason, no involve government is equals to no tax involve to any transactions that why people also loves crypto.

I agree it will take a long time for bitcoin to be used as a means of payment. The use of bitcoin is more popular in the online world and because of its decentralization nobody controls it so bitcoin is illegal in many countries around the world and many people do not know how to use it as a means of payment. Better to invest in bitcoin as technology and financial systems change, the use of cryptocurrencies will continue to grow and evolve. Individuals should carefully consider the risks and benefits of investing in cryptocurrencies.

The regulations in your country don't seem to be much different from the regulations in my country currently because in the country I live in now, everyone is allowed to invest in Bitcoin as long as they don't violate state regulations. However, for payments you still have to use the country's currency and you are not allowed to use Bitcoin, but I always differentiate between country regulations and the investments I carry out. Because an investor who wants to live more comfortably by running his investment in the crypto space which is more dominantly for Bitcoin. The investor certainly will not do things that are contrary to state rules because in truth he only wants to make a profit through his investment as long as what he is doing does not violate state rules.

I don't know on what basis you say it like that, but if you try to explore the popularity of fiat currency that exists in every country with the aim of using it only for payment, do you think that most fiat currencies in the world today are not well-known enough? Or try to take an example close to your own country's currency where almost all residents in your country know it and even people who don't live in your country also know about your country's currency. So what is your understanding of Bitcoin, which if it focused on payments would not have become as popular as it is now? While there are many people who want to use it for this like they use their own country's currency.

It's okay but even so, we can say that it's totally accepted globally since many countries and people have recognized it for its use not just as payment but mostly as an asset and that's okay. But yes, that's one reality that you can't everyone in terms of the acceptance of it globally as a payment method.

Yes, that's what really matters at this point. Before, the early adopters have only one thing in common and wished for and that is what we're experiencing and what bitcoin has achieved right now, it's global adoption and presence.

The argument that Bitcoin was used to launder money from illegal business long ago lost its validity. Because people who do business in this way were doing it before Bitcoin existed and they were doing it after. That's why we shouldn't be concerned with what is said to Bitcoin on this subject.

These things, which were spoken in every bear period, could not prevent Bitcoin from rising. There may or may not be a grain of truth, but it is wrong to pretend that the whole problem is in Bitcoin.

There is still time for Bitcoin to be used as a valid currency. Bitcoin must first complete its rise and many states must legally accept Bitcoin. After all, when it gets rid of volatility, it can be used as a currency. I think it's too early for that yet. The fact that Bitcoin has volatility is one of the biggest reasons for investing in Bitcoin. So Bitcoin needs volatility and will continue with volatility for a long time.