Bitcoin was not what we were promised - there I said it!

RocketSingh

legendary

Activity: 1662

Merit: 1050

Quote from: XinXan on November 23, 2018, 05:04:33 AM

Quote from: RocketSingh on November 22, 2018, 02:24:02 PM

Quote from: XinXan on November 19, 2018, 01:25:00 PM

Quote from: RocketSingh on November 19, 2018, 12:54:25 PM

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

Yeah just like anyone can volunteer to be the president of the United States. You can be one of them if you know what you are doing just like politicians, 99.99% of the crypto community do not have enough knowledge to be one of them.

You seem to have confused the basics of centralization & decentralization. If you disagree with US president, you can't fork the US. But, if you disagree with the lead maintainer of Bitcoin Core, you can fork the Bitcoin Chain.

XinXan

hero member

Activity: 1064

Merit: 505

Quote from: RocketSingh on November 22, 2018, 02:24:02 PM

Quote from: XinXan on November 19, 2018, 01:25:00 PM

Quote from: RocketSingh on November 19, 2018, 12:54:25 PM

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

Yeah just like anyone can volunteer to be the president of the United States. You can be one of them if you know what you are doing just like politicians, 99.99% of the crypto community do not have enough knowledge to be one of them.

CryptoRama

full member

Activity: 453

Merit: 100

what was promised to you? to me was promised one way of making money, maybe being decentralized to at least some point and it's a nice technology, I mean, I know it's the biggest scams out here, because of the manipulation, but tell me, what is fair in this world, where will you get the thing as promised? are you joking? do you think they care about your well fare? they only want to feed bitcoin and scam people who are buying bitcoin at 18000$ or 10000$...

I know the risks, if you weren't warned about them, then you should read more about it... Here I'm being honest to you.

Peacemaker1994

jr. member

Activity: 154

Merit: 2

I must say by your topic you where not involved in cryptocurrency by last year of you where you would have a different notion. This year has generally not lived up to the expectations

RocketSingh

legendary

Activity: 1662

Merit: 1050

Quote from: XinXan on November 19, 2018, 01:25:00 PM

Quote from: RocketSingh on November 19, 2018, 12:54:25 PM

Promise? What promise? A decentralized system doesn't have an authority to promise you something.

A decentralized system that was still made by someone and currently still being updated by other people, so yeah, there were ''promises'' in a way.

made? No. It was proposed. Anyone could volunteer to 'make it' and many are still 'making it'.

someone? How do you know it is 'someone' and not 'some group of people'.

updated by other people. Yes. So? You can be one of those 'other people'. And if the existing 'other people' does not accept your recommendation, you can always create your own implementation and see if there is enough people supporting it.

so yeah, there were ''promises'' in a way. So, NO. There were no ''promises'' in any way.

anakinbetrayal

newbie

Activity: 1

Merit: 0

Yes

ribowo76

full member

Activity: 784

Merit: 101

The World's 1st Waste to Green Energy DLT Project

Whatever happened to the crypto market today, personally. I still believe that bitcoin is decentralized. Because in my opinion, no one can fully control bitcoin. The fall in bitcoin prices this year, because there are too many negative issues regarding bitcoin

russelluk

member

Activity: 158

Merit: 10

Quote from: jeromix on November 20, 2018, 03:41:08 AM

I feel you also as an investor with BTC. All of my hard earn money will be put to waste and I had some regrets already on why I had invested this kind of system though I know that there is a high risk in investing BTC. Thus, I never thought that it is really indeed a high risk. I was just only thinking about entrusting my money to someone and getting a digital coin in return which in real life it could never had its used. After that the real struggle started as the BTC market price fall down for more.

Thanks - that is exactly my point. Yes we all know the risks and we take them. What people have to realise is that the destruction like what we are seeing again can only happen so many times before what I believe will destroy Bitcoin. Not that many Bitcoin investors are libertarians or idealists that are only thinking about the freeing the world. No they are everyday people that hurt when they lose their money and they don't need people giving them lectures on what they need to understand.

jeromix

copper member

Activity: 266

Merit: 2

Ako Bayot!

I feel you also as an investor with BTC. All of my hard earn money will be put to waste and I had some regrets already on why I had invested this kind of system though I know that there is a high risk in investing BTC. Thus, I never thought that it is really indeed a high risk. I was just only thinking about entrusting my money to someone and getting a digital coin in return which in real life it could never had its used. After that the real struggle started as the BTC market price fall down for more.

russelluk

member

Activity: 158

Merit: 10

Quote from: aoluain on November 19, 2018, 05:57:41 PM

The language the OP uses is just wrong and actually shows that there are
people out there who are maybe a bit misled as to what bitcoin was created
to do, what it has morphed into and the general workings surrounding it.

As others have pointed out, there was and is no promise.
"How the people will have control of their money" well we all have control of
our own bitcoin regardless of its FIAT value.

I cannot see bitcoin going as low as $1000, the buy orders for cheap coins
would kick in long before it got that low.

Please do not come back with the I know more than you attitude. I am expressing an emotion felt by many right now. Yes you are correct there is no promise and there was no promise - everyone takes there own risk with Bitcoin which I do understand. My point is that the infighting and the childish behavior of so many people in the crypto community is what will inhibit its general adoption. Like it or not most people are in Bitcoin for investment and making money and not some idealistic free the world notion.

russelluk

member

Activity: 158

Merit: 10

Quote from: bitbunnny on November 19, 2018, 02:16:33 PM

First of all you were not promised anything. Maybe is this just your imagination or lack of knowledge or information but who do you think exactly made some promis to you?
Bitcoin still is decentralized cryptocurrency, no matter what some conspiracy theories say. Yes, whales have some influence on the market but you can't blaim them for everything that is happening on the market, like the latest dump.
I know that bitternes is talking out of you but try to be rational and don't blaim Bitcoin or others for bad decisions or losses that might have happened to you.

Who is blaming Bitcoin? - its nothing but an dam algorithm. Rather than putting the Mr superiority hat on try and understand that what is happening to Bitcoin right now is the reason why its survival is in crisis. Its not about nit picking its just a fact that is pissing many people of.

thebadhatter

newbie

Activity: 2

Merit: 0

Quote from: jwcastle on November 19, 2018, 07:57:13 PM

Well, I think the "promise" was to replace fiat in a low cost and fast p2p payment system. That has failed to materialize in any meaningful way. Don't get me wrong, it still can happen. Just that it has not happened yet and the general public has not embraced bitcoin as a fiat replacement.
Decentralized just means that no one entity has control or large influence on the network. An entity could be a government, a company, a group, or a single person.

Ripple?

jwcastle

member

Activity: 117

Merit: 10

Well, I think the "promise" was to replace fiat in a low cost and fast p2p payment system. That has failed to materialize in any meaningful way. Don't get me wrong, it still can happen. Just that it has not happened yet and the general public has not embraced bitcoin as a fiat replacement.
Decentralized just means that no one entity has control or large influence on the network. An entity could be a government, a company, a group, or a single person.

thebadhatter

newbie

Activity: 2

Merit: 0

Quote from: russelluk on November 19, 2018, 11:57:33 AM

and having these kind of people lead us to the future is nothing less than a nightmare and the possible end for Bitcoin and all crypto. What a wasted chance all of this is ending up to be!

Yeah we have you know Hitler, Stalin and George Soros, Hillary Clinton, Nicholas Maduro and the Obamas.

thunderbitz2717

sr. member

Activity: 594

Merit: 250

Quote from: awilliams on November 19, 2018, 05:14:43 PM

I'm telling you that there's going to be a dump in december. bitcoin has lived up to what it promised: immutability.

What do you mean by " Going to be dump in December? ", And besides dumping coins in the market can be happen at any moment, this is all what I observed being here in this business as well. And for me, I don't believed that Bitcoin will go down again in 1000$, because of its decentralization why bitcoin has a high capability to bounce again one day.Lets just wait see on the right time. Just, hold!

aoluain

legendary

Activity: 2436

Merit: 1362

The language the OP uses is just wrong and actually shows that there are
people out there who are maybe a bit misled as to what bitcoin was created
to do, what it has morphed into and the general workings surrounding it.

As others have pointed out, there was and is no promise.
"How the people will have control of their money" well we all have control of
our own bitcoin regardless of its FIAT value.

I cannot see bitcoin going as low as $1000, the buy orders for cheap coins
would kick in long before it got that low.

awilliams

member

Activity: 191

Merit: 12

I'm telling you that there's going to be a dump in december. bitcoin has lived up to what it promised: immutability.

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: avikz on November 19, 2018, 01:57:59 PM

Looking at the events since last one week between Ver and Wright, just adding up to my belief that today's incident is completely pre-plotted. Ver and Wright had plotted this situations long back and Wright declaring himself as Satoshi, is part of the game plan! Also Sharkpool's attack on the network raises a lot of eyebrows as they rose into prominence.

Probably a high level enquiry would reveal a lot of inside story but I honestly think that, it is not going to stay for a long time! It's about time and the market will rebound to its previous position shortly! Until then, we have to take some beatings!!

I honestly believe so too. They are part of the rigged system starting when btc and crypto in general attracted the light for those usual monsters in the traditional financial system. Big bucks lure those wannabes to have this stuff acted childlishly in the open and it gives alot of shame to the community then will redeem afterwards when all have taken their position at the bottom.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: russelluk on November 19, 2018, 11:57:33 AM

For years we have listened to the bullshit about decentralised money and how the people will have control of their money with Bitcoin. Well what a lot of shit that ended up being. It is obvious that Bitcoin is not decentralised and a few miners or whatever can completely destroy this innovation. I am sick of listening to those self absorbed arrogant rich nerds that should never be in the position that they are with the Bitcoin Cash hardfork. I know this is BCH but it is screwing up everything. I don't really give a crap whether Roger Ver's vission or Craig Wrights vision is correct - all I know is that there selfish tweets and playing so called nerd hardball about moving Bitcoin hashrate to BCH and deliberately forcing the Bitcoin price down to 1000 USD to prove a point is absolute insanity. It proves to me that decentralization is a myth and having these kind of people lead us to the future is nothing less than a nightmare and the possible end for Bitcoin and all crypto. What a wasted chance all of this is ending up to be!

What makes you think these guys could force the price down to $1,000? It's not like Wright has access to Satoshi coins or anything. Wink

I think you're giving this BCH drama way too much credit. They're not leading Bitcoin or cryptocurrencies in general. They're just drama queens and megalomaniacs. Let them mine at a loss -- one side or the other will give up. And as usual, Bitcoin will keep moving along like nothing ever happened.

cetald

member

Activity: 434

Merit: 10

Quote from: russelluk on November 19, 2018, 11:57:33 AM

For years we have listened to the bullshit about decentralised money and how the people will have control of their money with Bitcoin. Well what a lot of shit that ended up being. It is obvious that Bitcoin is not decentralised and a few miners or whatever can completely destroy this innovation. I am sick of listening to those self absorbed arrogant rich nerds that should never be in the position that they are with the Bitcoin Cash hardfork. I know this is BCH but it is screwing up everything. I don't really give a crap whether Roger Ver's vission or Craig Wrights vision is correct - all I know is that there selfish tweets and playing so called nerd hardball about moving Bitcoin hashrate to BCH and deliberately forcing the Bitcoin price down to 1000 USD to prove a point is absolute insanity. It proves to me that decentralization is a myth and having these kind of people lead us to the future is nothing less than a nightmare and the possible end for Bitcoin and all crypto. What a wasted chance all of this is ending up to be!

I think that those who started it understand this. I think it's not about BCH. This is definitely not in their interests Roger Ver. He is not stupid and understands that the market after such a fall for a long time will not be able to stand up.

Topic: Bitcoin was not what we were promised - there I said it! (Read 503 times)