Bitcoin is "dying". - page 3. | Bitcointalksearch.org

Slow death

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Quote from: crypticj on May 18, 2023, 09:28:47 PM

Quote from: macson on May 18, 2023, 05:43:08 PM

You can read in the bitcoin whitepaper that the things that many people are worried about have been predicted in such a way by satoshi, so it is very important to maintain the purity of bitcoin.

And I think we are losing the purity of Bitcoin right now. It looks like the government wants to destroy everything that makes Bitcoin a Bitcoin. They want to tax it, they want everyone KYCd, they ban mixers and they create trouble for companies or people who use bitcoin.

you said that bitcoin is not being used as a currency (although it is being used as a currency but by few people and the reason is very simple: it is not people's fault when in their countries governments do not put laws on bitcoin in a way that allow merchants in your country accept bitcoin as a method of payment, it's not people's fault when in their countries governments don't put laws that allow all people to receive their wages in bitcoin, that all people can get their wages deducted in bitcoin for taxes and life pensions. people are not to blame for all this, they can only keep putting pressure on their countries' governments to create good laws about bitcoin

now you can't kid yourself thinking that some government would tell people in your country to pay wages in bitcoin too, pay all bills in bitcoin, buy anything in your country and pay in bitcoin and not be asked for KYC, if FIAT has kyc then it was obvious that bitcoin would also need kyc, because bitcoin is a currency that has value and people can use bitcoin for money laundering, so about kyc we should not be surprised by this, the introduction of kyc in this market was expected and people shouldn't think that this is something they can get around, on the contrary kyc is here to stay forever

umbara ardian

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I don't think so, despite limiting the total supply to only 21 million and the fact that nowadays few people seem to be using it in trading everyday commodities. But that should not say it is dying out, as many people look to bitcoin as a hoarding asset with higher return investment opportunities than many other investment channels available in the currency. Moreover, its blockchain technology is far superior to traditional forms of payment because of its decentralized nature and lack of control by anyone. So even though there are still many objections, at least we should still see the positive aspects that bitcoin brings to life.

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Quote from: GideonGono on May 23, 2023, 07:13:40 AM

If we're talking about anonymity and decentralization and being used as a currency then yes, those ideas are really dying.
KYC and centralized platform not to mention that cryptocurrency are only being seen and used as an investment tool are the main factor why those ideas are dying, but we couldn't really blame them, people would use centralized platform and do the KYC to secure their money and with the price being volatile people would use that opportunity to earn.

Let's say the idea of making bitcoin into currency is dead, but you and the OP need to agree with me when bitcoin became an investment, it brought wealth to many, changed their lives, and many other benefits to us. That shows that even if bitcoin is not used as initially intended, but it has succeeded in helping us a lot. I believe that when it becomes an investment, it will bring more benefits as a currency.

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If we're talking about anonymity and decentralization and being used as a currency then yes, those ideas are really dying.
KYC and centralized platform not to mention that cryptocurrency are only being seen and used as an investment tool are the main factor why those ideas are dying, but we couldn't really blame them, people would use centralized platform and do the KYC to secure their money and with the price being volatile people would use that opportunity to earn.

fat buddah

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if I'd have a 0.001 BTC every time someone says it's "dying" I would be so goddamn wealthy. Yeah, there are some issues and problems right now, but Bitcoin still works. Maybe many people only see it as an asset, so what? Cities and even countries are using it as a currency. To be honest, I wouldn't waste my Bitcoin on groceries or fast food.

worle1bm

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I don't see any downfall chance as you are seeing for Bitcoin network just because people are using it as an asset rather then a currency.The big companies and many merchants are dealing in this payment mode and how can you say people are not using it as payment mode? Although the percentage of investment is high if we make comparisons but this doesn't mean it's dying as you have said because we all know how much adoption has increased and price boost also.At last people will use it when it will be globally accepted and it will also provide them profits as well.

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Quote from: crypticj on May 18, 2023, 07:30:05 AM

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

I spend a week on this forum talking with people about Bitcoin and asking their opinions in threads. And I came to the conclusion that the whole idea of Bitcoin is being killed in front of our eyes.

This conclusion was arrived at too early, besides Bitcoin users have ddifferent needs and not all can be HOdlers because its not for the faint hearted and not everyone can use btc as a currency as fees can be too high at times such that you cannot make a 2 dollar payment without spending 4-8 dollars on fees...doesn't just make economic sense, so if Bitcoin use it to be stimulated fees have to become super low.

Quote from: crypticj on May 18, 2023, 07:30:05 AM

The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.

If you say bitcoin is losing it, then if we look back at the history of bitcoin words like "hodl" would have never existed because by default it was designed this way which is buy now sell later and become a crypto millionaire ...

Besides, by hodling several crypto users have cashed in big and people want to replicate this but using btc as a currency at the moment isn't practical as alternatives exist which have lower fees and faster confirmation times.

Quote from: crypticj on May 18, 2023, 07:30:05 AM

-snip-
So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that bitcoin Ideas are dying.

You know how people say one man's poison is another man's food, well this can be applied here...where one sees a currency in bitcoin others see an asset to use as a store of value nowonder its called digital gold as it also allows us to move away from the old Gold which isn't accessible to all of us.

IvugeoEvolutionCoin

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Quote from: rhodelmabanal on May 22, 2023, 03:12:32 PM

I don't bitcoin will die easily it is the most valuable coin in crypto and many investor wanted to have it and use it as an investment for a long term, so its price and value will maybe become double in the next generation and it will not simply die, it will surely become more valuable that is why many people hold it today

I think very soon bitcoin will go to a state where everything can be paid through bitcoin. But those who have invested in bitcoin have done a smart thing. The price of bitcoin is where it is now and in a few years the price will increase several times more. I want to keep some money invested in this for a few years. I hope after a few years Bitcoin will go well.

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Quote from: Bitstar_coin on May 22, 2023, 01:34:57 PM

In a matter of honesty, do you think btc would have gain this much popularity and attention if it was not traded as asset by the majority?
In my opinion, i believe the idea of btc being an alternative currency to fiat was killed the moment it was pegged to fiat and becomes tradeable, if this was not made possible, btc would have being an ordinary digital coin without any fiat value, used as actual alternative currency to fiat. owing it would have been through mining or receiving it from transactions, eliminating the ability to buy it with another currency. but that idea like you said has long being killed and i doubt it will go that direction again.

You are right, with what is going on with bitcoin, it is no longer aiming to be an alternative currency, we are moving towards an asset like gold, digital gold. But that doesn't mean we won't be able to use it as currency, we can still use it as a payment method if we have a need. Suppose, in the future bitcoin will be widely used in the world, and if I have to transfer money abroad, I will choose to use bitcoin instead of using a bank. Bitcoin is both faster and more cost-effective than banking. In a way, bitcoin is still a currency even when it becomes an investment.

ultrloa

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Quote from: Questat on May 22, 2023, 03:51:47 PM

Quote from: Despairo on May 21, 2023, 10:52:28 PM

Most people didn't use Bitcoin in their daily life, some users are use Bitcoin to pay online marketplace or bills, but it's just few times in a month. I doubt people are use Bitcoin for daily payment even though they live in a country where Bitcoin is completely accepted as legal tender because recently the Bitcoin price is quite higher and not worth to buy a cheap stuff.

The benefit of Bitcoin in my life is about I can send money easier and faster to someone who live in another country, I can feel more private and safe because my wealth isn't shown in a centralized institutions etc.

Bitcoin isn't dying since the uniqueness is still not replaced with any other coins.

Until now, Bitcoin still remains an option for payment while the majority are still using fiat money. As we can see, only a few people think that Bitcoin is another form of currency that can be used to buy stuff while most of us consider this as a great investment asset. On its design as a currency, we can't really think it is very successful as only a few people do but if we talk about investment, it has been shown to us a huge success. That is why it gains more attention and courage from the people which I believe could even push more to go farther, not down.

Since it is been acknowledge as currency already by some great leaders and making it as legal tender we can say that this is a success already. And we can also many people around the world use it and talk about this currency so this is another great milestone for bitcoin. Although there are people who doubt says that bitcoin is dying whenever there's a dump happened but those guys always been proved that their assumptions is wrong when bitcoin price recover back and gain more value.

Fivestar4everMVP

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Quote from: CryptSafe on May 22, 2023, 04:07:31 PM

Bitcoin is dying are you the killer? Have you not been following up with bitcoin for years well if you have not I would advise you to do a little research on bitcoin turbulent times and get key facts for yourself and see how it was right from the very beginning of bitcoin inception. There have been worst scenario than the BRC20 attack on bitcoin but bitcoin bounced back with full force to surpass other altcoin maintaining the lead above all.
If you are truly a bitcoin enthusiast and believer this would be your last resort if you really knew the potentials bitcoin carries. Bitcoin is more than what you could imagine mate. So sit up and stop panicking.

"bitcoin is dying, are you the killer" is a good question and also a befitting reply to the OP, actually, bitcoin have indeed faced many challenges and attacks, but there have never been a time when any altcoin surpassed bitcoin by either taking the first position in coinmarketcap or any other form, bitcoin have continued to strive, even in its darkest moments..

So personally, if bitcoin is going to die, it should have a long time ago, for it to still be here till today, simply means it's indestructible.

CryptSafe

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Bitcoin is dying are you the killer? Have you not been following up with bitcoin for years well if you have not I would advise you to do a little research on bitcoin turbulent times and get key facts for yourself and see how it was right from the very beginning of bitcoin inception. There have been worst scenario than the BRC20 attack on bitcoin but bitcoin bounced back with full force to surpass other altcoin maintaining the lead above all.
If you are truly a bitcoin enthusiast and believer this would be your last resort if you really knew the potentials bitcoin carries. Bitcoin is more than what you could imagine mate. So sit up and stop panicking.

Questat

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Quote from: Despairo on May 21, 2023, 10:52:28 PM

Most people didn't use Bitcoin in their daily life, some users are use Bitcoin to pay online marketplace or bills, but it's just few times in a month. I doubt people are use Bitcoin for daily payment even though they live in a country where Bitcoin is completely accepted as legal tender because recently the Bitcoin price is quite higher and not worth to buy a cheap stuff.

The benefit of Bitcoin in my life is about I can send money easier and faster to someone who live in another country, I can feel more private and safe because my wealth isn't shown in a centralized institutions etc.

Bitcoin isn't dying since the uniqueness is still not replaced with any other coins.

Until now, Bitcoin still remains an option for payment while the majority are still using fiat money. As we can see, only a few people think that Bitcoin is another form of currency that can be used to buy stuff while most of us consider this as a great investment asset. On its design as a currency, we can't really think it is very successful as only a few people do but if we talk about investment, it has been shown to us a huge success. That is why it gains more attention and courage from the people which I believe could even push more to go farther, not down.

rhodelmabanal

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I don't bitcoin will die easily it is the most valuable coin in crypto and many investor wanted to have it and use it as an investment for a long term, so its price and value will maybe become double in the next generation and it will not simply die, it will surely become more valuable that is why many people hold it today

southerngentuk

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I find that non-bitcoin daily small payment protocols are not as popular as other forms of payment such as credit cards or cash, but they also have advantages and are more optimal than the old forms of payment. The fact that you can transact across borders between countries quickly with a relatively cheap fee compared to the cumbersome old traditional methods In addition, the issue of security is also considered more secure when you can be anonymous, making it difficult to censor you. Although it may be limited to daily use, the fact that bitcoin is dying doesn't feel right to me because bitcoin still has certain advantages that it possesses.

nimogsm

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You got a very pessimistic topic. I don’t think that everything is so bad, personally, I still don’t really notice the global problems that you write about. I can also freely buy and sell bitcoin without any verification. Probably you just need to know where to do it. The fact that he has become an asset is clear for many years now it is important to understand another aspect, namely who owns it and what his plans are.

Bitstar_coin

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In a matter of honesty, do you think btc would have gain this much popularity and attention if it was not traded as asset by the majority?
In my opinion, i believe the idea of btc being an alternative currency to fiat was killed the moment it was pegged to fiat and becomes tradeable, if this was not made possible, btc would have being an ordinary digital coin without any fiat value, used as actual alternative currency to fiat. owing it would have been through mining or receiving it from transactions, eliminating the ability to buy it with another currency. but that idea like you said has long being killed and i doubt it will go that direction again.

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Quote from: crypticj on May 18, 2023, 07:30:05 AM

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.

---

I have been on the forum for a long time and I want to say that the cryptocurrency society has already passed all stages. We have buried Bitcoin many times already, and then it showed new price highs. Of course you are right - the idea of free assets is in a vice. I remember how identity verifications began to be introduced in 2017, they were mandatory, and we had nowhere to get away from them, because we wanted to continue using exchanges. And now cryptocurrencies are more like a speculative tool.
Let it be so, but this is also a breakthrough!
And maybe tomorrow a new Satoshi will come up with a new idea that regulators will not be able to curb.

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Quote from: crypticj on May 18, 2023, 07:30:05 AM

Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.
That's why I think that bitcoin Ideas are dying.

last month you created a thread that Bitcoin will go down here
https://bitcointalksearch.org/topic/m.62119527
and even ask us to convert our money in stable coins , where did you find all those Ideas? because if those are all yours so better keep it ok?

because you are just showing how not knowledgeable about crypto and specially bitocin.

Quote from: crypticj on April 19, 2023, 09:38:19 PM

Hello everyone.

So I recommend holding on to your cash/stablecoins right now and waiting for the signals to buy Bitcoin.
And as always, the best signals to look for: FED start cutting rates. When this will happen, it will mean that economy will start recovering soon so it's a great time to buy anything you want before crypto and the stock market will go up.

Have a nice day and take care.

this is the stupidest Idea I ever heard and read in bitcoin world since day one of my learning this market .

crypticj

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Quote from: serjent05 on May 19, 2023, 11:33:52 AM

That is the compromised Bitcoin users have to give if they wanted the government to adopt Bitcoin. That is showing people that they (the government) still has the authority when it comes to finance system.

I understand and I agree that it's a price bitcoin is paying for becoming a currency. But it is worth it if in the end every bitcoin transaction will be fully regulated, you can't buy it without KYC and they probably will make us send/receive it through their channels to analyze transactions.

And secondly, what is the point of adoption if people think of bitcoin as an asset and will just trade it causing fluctuations that will make it impossible to use it as a payment method?
just imagine that business that accepts bitcoin will be recalculating the price multiple times a day because bitcoin has moved 2-5%.

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