Topic: Bitcoin becoming a reserve as envisioned by Hal Finney (Read 79 times)

But is it really commendable though?  They were all screaming and shouting at Bitcoin for being this and that and calling it out for dying all the time but when The United States decides to possibly add it to their national reserve everybody else claps their hands like seals on a shore.

I would not commend fake appreciation too much.  All the countries following what United States does blindly will disregard Bitcoin as soon as The United States says they will.  They do not see a potential in BITCOIN.  They see a possibility of gathering more profit, more money.  That is it.

It is like commending everybody who is in to Bitcoin for purchasing it, although they clearly specify money is the only reason and they are not here long term.  Good for you and definitely a good financial choice, but I would rather commend somebody who truly knows what they are putting their money in to and has a wider perspective than just 'Bitcoin in, wallet big'.

Some of the prophesies are coming to pass already, it may not be all, as such that we have bitcoin not been supported by most of the banks due to government regulations over it uses, but being a digital gold and so on is part of the reality we have seen today, more are still coming to be as time goes by, because the world are getting to know more better about the influence and usefulness of bitcoin in this modern economy, i will say that Finney is right about all these, but not all are manifesting already, it may still take more little time and efforts to get all these achieved completely.

Bitcoin in 2009 and Bitcoin in 2025 are indeed different, but I wouldn't say that disproves Hal's vision at all.  If anything, it does the opposite.  These changes in Bitcoin you've observed over the last 15+ years have moved Bitcoin into becoming more of a store of value like Hal said, and less of a peer to peer currency like was believed would be the case 10+ years ago when Hal was making these comments.  It shows that he not only saw what was to come, but how the market would react.  Most people can't do that second part, which is why most predictions fail in my opinion.

Hal didn't live to see his vision become a reality but what matters is that he was right and will continue to be right on a lot of things in the context of bitcoin. He saw the future, crafted some part of it, prepared for it and told the world for those who cared to listen about it.
Eventually, many countries will adopt bitcoin as a reserve, they are waiting on the US to come out with their final report before they follow suit. We should keep on holding.

Thank you for making out time to read and comment on my thread. I am glad you did, I had to quote the phrase for visibility so that my illustrations or explanation could make meaning with the message I was trying to pass across. However, I did attach the link to my source through which I got the information for further reference if in case should any member wants to read further. If you read the first sentence where you have the word website, you can see that the word was embedded with a link so that as you click it, it would take you directly to the source where the information was culled from. Following your input and advice, I will provide the link to the sources here for clarity so that it would be visible for all to see and also access it to read.

 Source

You can get more from his emails with Satoshi Nakamoto.
https://www.wsj.com/public/resources/documents/finneynakamotoemails.pdf

Another forum member was quicker than you by creating Hal Finney predicted Bitcoin banks, how does the software look like? for similar discussion on Bicoin bank, reserve.

Bitcoin in 2009 and 2025 are different after many technical upgrades and Hal Finney vision can be no longer applicable in 2025.

You should put a link to the source, it is clear that you are quoting but if you simply put the quote without a link you force us to search to check if the quote is correct. I for one would like to know when he said that.

After searching I have seen this article for example:

Hal Finney on Bitcoin: In His Own Words

It is clear that he had a good vision of what bitcoin could be in the future, since making predictions you are usually wrong, but he understood very well what was being born when at that time almost nobody understood it.

I was doing some research on Bitcoin and I came across a quote compiled by a website concerning Hal Finneys future prediction as it relates to Bitcoin and its acceptability in the world. Today, the majority of what he said back then has started taking shape as we can see them in the crypto space and the government actions as well.

Here is one of all he said during the early years of Bitcoin's inception;


Here, it is the government that has finally taken bold steps to make Bitcoin a national reserve which Hal already envisioned. It already started with El Salvador as the first country in the world to make Bitcoin a national reserve and now some nations are beginning to make such bold steps seeing the benefits of making Bitcoin a national reserve. Donald Trump during his campaign made a promise to make sure the US has a Bitcoin national reserve which he is currently working on and going by this, some other nations have taken the step to do such which is very commendable. If this approach persists, we could see bitcoin value triple its current value, making it compete with gold as it already did in the past irrespective of its price fluctuation.

The prediction of Bitcoin hitting a million dollars has long been predicted by Hal who said;


Hal seeing how wealthy people could be as a result of holding Bitcoin when it gets to a million dollars, encourages an even distribution of wealth in the community to help in further development so that everyone could feel the impact of Satoshi innovation on the world.  I believe Bitcoin would get to that price as said by Hal but it would take some time to achieve because it seems that Bitcoin is still at its early stage of adoption and the world has yet to fully adopt it with countries integrating it into their economy.