Bitcoin is always a remarkable achievement and invention ever introduced by Satoshi but at the time same time, we(peoples) are moving in a wave that is always flying high than ever to exist.
I am still wondering about bitcoin as learning it since its origin. But never bought Bitcoin, because of the many schemes types online businesses were making the hike. So can't believe in Bitcoin as I am knowing its price was $100 around something, at first glance. But later on, get involved.
I personally think that media, news, and other interacting platform plays a major role in all taking Bitcoin to the next level. Due to today's technology, many innovative things are working together. And many innovations with blockchain technology are still coming. Due to this new users are getting involved in the coming new era of finance and economics. This thing makes crypto more valuable. And as we all know that Bitcoin is the master/prime currency of the crypto market.
Whenever we mention or talk about bitcoin, we never forget to recognize satoshi as the pioneer of Bitcoin. As Satoshi Nakamoto gives a revolutionary and innovative platform made with blockchain and cryptography technology, that has already created history.
Topic: Bitcoin Has Performed Even More Than Satoshi Expected (Read 211 times)
But its adoption for payments progresses very slowly, most of the community is only talking about trading and using it as a store of value. For every "I paid with Bitcoin today" post there's hundreds of "will Bitcoin go up or down" posts.
Adoption for payment was the primary reason for Satoshi's creation of bitcoin we all know, but the good thing is that the model for bitcoin is fluid and on the road to achieving its primary objective on a large scale has found multiple uses and solved many problems even broader than the original scope of it's creation and that's a good thing. Just as you have said that some have found it as a store of value, some others have used them for anonymous donations and support, and some still use them for their original purpose, in all, Satoshi will be proud of how useful and versatile his creation bitcoin has become.
Most of the users here have the same experience. By then it looked more expensive and weren't affordable. Now if we think back, it looks like an affordable price. If not our mind thinks of some way through which we could've managed to buy. Now situation is different, because the price is truly unaffordable for a common man who earns out of daily wage. Bitcoin have grown good against big oppositions, so it has the ability to stand high against the traditional fiat in the long term.
It is natural to have a little bit of doubt when you invent something new and revolutional in nature, how people will react to it, if people will accept or reject it.
And the first few years where actually tough for btc in regards to people accepting it, many people didn't believe in btc potential reason why people like Laszlo Hanyecz spent 10k btc to buy 2 pizza.
Nobody can predict what will happen in future, not even the genius Satoshi.
And the first few years where actually tough for btc in regards to people accepting it, many people didn't believe in btc potential reason why people like Laszlo Hanyecz spent 10k btc to buy 2 pizza.
Nobody can predict what will happen in future, not even the genius Satoshi.
Most people hadn't bought Bitcoin for the almost same reason. But money wasn't a fact for me, the fact was I wasn't familiar with Bitcoin. I can't recall exactly the year when Bitcoin was introduced to me, but I have seen the price was $700. Never thought Bitcoin will be in its current position ever. Now it's costly for us and the next generation will feel the same.
I would agree on Bitcoin reached more than the expectation of Satoshi Nakamoto. He created Bitcoin for another reason but we are playing with it.
I would agree on Bitcoin reached more than the expectation of Satoshi Nakamoto. He created Bitcoin for another reason but we are playing with it.
Since we are not Satoshi we cannot be sure of what he was expecting from bitcoin, on the other hand sometimes people create so, thing but they could never imagine what they will create a margin with their own hands, also some progress in bitcoin including the creation of it and creation of the community was because of the Satoshi but some other parts of it including raise of the price hugely and the regulation and adoption of bitcoin is because of other people and other factors however still we cannot be sure about that and maybe that's all Satoshi's plan and he was planing all of these.
Satoshi didn't have any strong and concrete expectations for Bitcoin. He famously said that Bitcoin will either be worth a lot or nothing.
He may didn't expect that it'd reach that high, or at least that's what he showed, but I'm sure he knew he wrote history. He gave a solution to a problem that was considered unsolvable at the time. Also, the idea of a cryptocurrency was dominating in the cryptographic community for about 13 years. I refuse to accept that he wasn't passionate due to this. The ability to create something so useful and so unique, whose existence could not been brought by anyone, must have helped a lot.
Satoshi didn't have any strong and concrete expectations for Bitcoin. He famously said that Bitcoin will either be worth a lot or nothing.
Would Satoshi be pleased with today's state of Bitcoin? Or is he, if he's alive and well right now? I think there are reasons to say yes and no. Bitcoin's price has certainly performed well, the network is very strong, and the devs are preserving the original values of Bitcoin to ensure the longevity of the project. But its adoption for payments progresses very slowly, most of the community is only talking about trading and using it as a store of value. For every "I paid with Bitcoin today" post there's hundreds of "will Bitcoin go up or down" posts.
But I wouldn't say that Bitcoin has failed Satoshi's vision. There's a lot of factors that prevent broad adoption for payments, and not all of them are related to only the technology.
Would Satoshi be pleased with today's state of Bitcoin? Or is he, if he's alive and well right now? I think there are reasons to say yes and no. Bitcoin's price has certainly performed well, the network is very strong, and the devs are preserving the original values of Bitcoin to ensure the longevity of the project. But its adoption for payments progresses very slowly, most of the community is only talking about trading and using it as a store of value. For every "I paid with Bitcoin today" post there's hundreds of "will Bitcoin go up or down" posts.
But I wouldn't say that Bitcoin has failed Satoshi's vision. There's a lot of factors that prevent broad adoption for payments, and not all of them are related to only the technology.
I can't get the link now as I haven't saved it but satoshi was able to forecast something similar to this. His speech was something like, "Either it will be huge or it will be a fail."I have forgotten where I have read that sentence but if my memory can serve me well, I have read this quote from satoshi.
Neverthless, theer were a lot of people from the very beginning who were able to identify the potentiasl of bitcoin. They are now elite class people now.
Neverthless, theer were a lot of people from the very beginning who were able to identify the potentiasl of bitcoin. They are now elite class people now.
And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now...
Example: you are not sure if it will rain, but you still go out with your umbrella just in case it rains.
This could be the link to the mailing list, where the supposed quote was gotten from.Quote
it might make sense just to get some IN CASE it catches on
The keyword is in case- in case means unsure. Example: you are not sure if it will rain, but you still go out with your umbrella just in case it rains.
Firstly, you cannot base someone's believe on one quote, Satoshi has lots of quotes which shows his thoughts about bitcoin.
Secondly, I would not say it shows uncertainty or lack of assurance. It could just be a way to pass the message. If I were introducing Bitcoin to others back then when little knowledge was known about it, that would likely be how I do it.
Very few people then were going to share satoshi's enthusiasm and trust in the design, so best to make it easier for them to get on board with it.
but price is absolutely limitless.
And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now...
I think that Satoshi would be more focused on the bitcoin adoption rather than the price. Anyway considering that bitcoin was created a little more than 10 years ago, the current result is astonishing in my opinion, if we look where it started and all the problems it went through, it's unbelievable that now we even have a country that uses it just like others do with fiat. And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now...
Quote
it might make sense just to get some IN CASE it catches on
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I meet BTC in 2015 when it's price was around $200, I couldnt buy it then for several reasons, and two of those reasons are -
Sadly >
, I watched BTC rise from one ATH to another, and for me, each new ATH felt like it was the last, that BTC will never go past that price again, and in my very face, a new ATH will emerge, and a new form of regret will grow in me, the regret is not because I didn't buy, but because my prediction was wrong.
This kept on and on, until I finally came to the realization that BTC is totally limitless in-terms of pricing, supply might be limited to 21m coins, but price is absolutely limitless.
And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now...
Example: you are not sure if it will rain, but you still go out with your umbrella just in case it rains.
Contributions, insights are all welcome, feel free to share your own bitcoin story too.
- 1. I was very poor back then, and $200 was a lot of money.. Yes, I couldn't afford it, though I could afford a fraction of BTC, but I still didn't buy because.....
- 2. I felt it was already too expensive, $200 being a lot of money for me back then easily made me believe that BTC at that price was already too expensive. I hope you guys can see from my perspective, for easy comprehension.
Sadly >
, I watched BTC rise from one ATH to another, and for me, each new ATH felt like it was the last, that BTC will never go past that price again, and in my very face, a new ATH will emerge, and a new form of regret will grow in me, the regret is not because I didn't buy, but because my prediction was wrong. This kept on and on, until I finally came to the realization that BTC is totally limitless in-terms of pricing, supply might be limited to 21m coins, but price is absolutely limitless.
And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now...
Quote
it might make sense just to get some IN CASE it catches on
The keyword is in case- in case means unsure. Example: you are not sure if it will rain, but you still go out with your umbrella just in case it rains.
Contributions, insights are all welcome, feel free to share your own bitcoin story too.
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