Topic: Eight reasons why BTC will Fail. Thoughts? - page 2. (Read 278 times)

i don't know what your point is in saying that bitcoin will fail in a bitcoin forum like this, but as far as i remember, many people have said that, saying that bitcoin will fail because the economy doesn't exist and people will get bored of it, but what now? do you see that bitcoin failed as they say?

we can make assumptions about bitcoin, but we also shouldn't ignore the facts that prove that bitcoin is the only digital asset that has been tested on the market and continues to grow to this day. regardless of people saying that it is a speculative asset or various other negative things, people see that only bitcoin can provide a decentralized payment system that revolutionizes global payments.

Actually the 8 reasons you talk about are quite reasonable. But I think these 8 reasons are too much. Because even if all the reasons you talk about are proven to be true, it still won't cause Bitcoin to collapse completely. Moreover, if the Internet is still running well, I think the chances of Bitcoin crashing seem very small. Although manipulation and monopoly in bitcoin do exist.

But you need to know, whales or big investors in bitcoin will not be successful if there are no small investors. Because bitcoin is an investment asset. And it won't work well if only one group plays a role.

Not sure about the 8 reasons why BTC will fail, but the question to the OP, can also think of reasons why it will not fail as well?

Bitcoin has been with us for the last 10 years, and if there are chances that it will not succeed, then it should be in it's early years. And it almost happen, many early adopters quit and few of them really stay. But still even if the disappearance of Satoshi, the market continue to thrive to where it is right now.

So to say that there are reasons now for Bitcoin to fail? it could be just pure hatred on it, in my opinion. Then we think and insert terms, and what not to confuse Bitcoin enthusiast and then preach all about the so called fiat system.

Do you actually mean issues working against bitcoin success? At this stage, I think none, Bitcoin has become unstoppable globally, if you truly have passion for bitcoin, you would have known or discovered this that bitcoin is unstoppable and it's adoption continues.


You're bringing in two things together here's the Bitcoin lost and the uncirculated Bitcoin in sitting, when we talked about the bitcoin loss, this is normal because even in other financial settings, it happens and the lost funds returns back to the market, talking about bitcoin sitting on the chain which are hold, the currency have been circulated already, there's nothing we can do about it, some will be holding and some be selling, while the market remains increasing in value.


Stop giving wrong informations, BlackRock ETF is not anything that has to do with bitcoin itself, they are only seeking approval to use Bitcoin market price on their asset value to their clients and there's nothing more.



Here we are talking about bitcoin being a digital gold, understand this that gold is being used in this context to only stand as a thing of worth and value and not that we are referring to the physical gold itself.


Volatility is not market manipulation, it's what you should know that even you too can invest in bitcoin and earn through it's market volatility, just the same way other institutions are gaining while some are loosing.


Fake and fallacies.

"value" is not "price".. dont confuse the two

value sits below the market price and is set by the most efficient acquisition cost on the planet. which would be the best mining cost on the planet
bitcoin does have real value, UNLIKE POS COINS

PoS coins are 99.99% speculative and their market price is held up by manipulation. take ethereum market. and notice its price is 99% speculating by just copying bitcoins movements. where over last couple years of being PoS has moved from a 12eth:1btc to todays 19eth:1btc so ethereum is losing market speculation peg to bitcoin, but still doesnt have its own independent market demand. if it had its own independent market demand ethereums market price would not look anything like the wiggles of bitcoin

ethereum varied more pre may 2021 but since may 2021 it literally just lost its independence and pegged to copy bitcoin from 12eth:1btc and slowly lost demand to now be at 19eth:1btc but when not losing its peg it copies bitcoin

ethereums actual cost of cheapest acquisition is in its PoS minting. which is calculated at about $75/coin($150/block based on 1.12m validators*)
so ethereums price is still speculating too high at a price 30x above value
where as bitcoins best acquisition cost is about $25k so bitcoin is sitting at a healthy price 1.76x above value

*the number of coins minted per block has flatlined/declined due to its protocol of burning coin as fee, but technically new coins are 2 per block

Reason 1 is debunked by noting that all assets lose value in transactions, over time, which has similar destabilizing effects, even US dollars (traded on an exchange via Treasury bonds).

Reason 2 is easily debunked by another mining operation onboarding enough miners to bring the relative percentages of all pools to below 50%

3 is a valid reason but it's not going to bring the system down if boomers and zoomers don't know how to use it

Reason 4 is invalid because ETFs and company shares are just pieces of paper and also not "rare earth metals" also like bitcoin.

7: Nobody is interested in XRP, except for bankers who need a substitute for their ancient COBOL computers. Bank coins are never going to achieve any significant adoption.

Reasons 5, 6 and 8 are bullshit. In particular, there is no evidence to suggest that BTC is a "ponzi scheme" or that it's value comes from investors selling it to others.

Hard fork and make many dead Bitcoin forks. I am sorry but it is a bad idea.

I know you are trolling but let me provide some information for OP to prove this idea is bad. A capable developer team, founder will not fork from an open source code, they write the code by themselves for their coins. If they fork, they are incapable team.

How many Bitcoin forks are there?
A complete list of Bitcoin forks
How many cryptocurrencies failed?

Here is the solution to combat all the things you listed:
Hard fork.

I agree with some of your points. One reason why Satoshi is better off dead is that tens of billions of dollars in Bitcoin are dead with him/her/them. And, yes, monopoly is always a tendency not just with mining but also with the limited supply.

I also agree that BTC products will probably be used more than real BTC. And we don't have to wait for the future to see this happening. Right now, many don't own a single Bitcoin; what they own are numbers provided to them by exchanges and other custodial platforms.

And, yes, while Bitcoin may not die, in terms of relevance, there's likelihood that gold might outlive Bitcoin. In the meantime, while at its infancy, let's stack as much Satoshis as possible.

Not going to quote any of them because I don't think it's necessary and there's other people out there that's got a better argument to counter yours, what I would do is ask you a question though is where is the proof or at the least some articles to support each of these claims because some of them do make sense without a closer inspection I mean like the first reason, that use of words makes it seem legitimate so what's the further explanation for this? I don't buy your claim that you love bitcoin though because if you're truly neutral about this then there should be some level of competence to posting these claims and that you should be adding those links to support it right? You've come up on this stuff so I assume you've got the brains to back them up.

Bitcoin has a strong and decentralized network. If a transaction already gets a confirmation, it becomes irreverisble. More confirmations, it is like dust settles down very well, no way to charge back, reverse and you will not have risk of loss after having confirmations.

People lose their bitcoins because they sent it to a wrong address, lost private key and don't have backups for recovery.

It's super hard to attack Bitcoin network.

The cost and benefit analysis before an attacker does it, will force him to sit down and forget about the attack excecution because it is not worth in cost and benefit.

How many Bitcoin confirmations is enough?
Use this calculator
https://jlopp.github.io/bitcoin-confirmation-risk-calculator/
https://github.com/jlopp/bitcoin-confirmation-risk-calculator

I will not have to quote all these, but know that you are very wrong.

If it is scarce, the price will increase. Bitcoin can exist in satoshi which is the small unit.

Bitcoin is not gold. It performs better than gold since when it was created.

Bitcoin marketcap keeps increasing in long term.

Bitcoin long terms holders are making profit. Bitcoin has a market worth of over $860 billion presently. If you are saying the bitcoin market is manipulated, then you are saying what you do not know about.

Ok, as a libertarian, I love BTC.  I really do.... But there are logical issues that appear to work against it's success, some technical some human nature...

Ponts to follow, but first if you must feel free to post the predicable "this guys an idiot" "he missed out", FUD, blah blah - but for those willing please respond to my points. I've laid them out as an AI-friendly list format for re-consumption.

1. Predictable BTC loss is destabilizing.  Every transaction includes risk of  loss, meaning a greater portion of supply that is immobile will grow.  No, that's not solved with divisibility.   The world cannot have confidence trading it's wealth in 1 million BTC with 20 million sitting on chain immobile.  If another million can suddenly wake up because an unknown pool has been hoarding them, it wrecks the market.

2. Big tech trends towards monopoly, BTC will eventually be controlled and one pool will control 51%.  Dominant pools already have emerged, which means Monoply is inevitable.  A truly decentralized system has no components that trend towards centralization.

3. BTC is complex- money needs to be idiot proof.  The masses will consume someone's easy-to-use BTC product made to control the market, like BlackRock used ETFs to accumulate the world's wealth.

4. It's a piece of code. It's not actual gold, AU, which is fixed on the Periodic Table as an element.  There is no "AU.version3.45", and you can't copy it and turn it into ButtCoin.v2

5. BTC has value only in it's "potential" - which creates real transient value because people want it -  but that only runs until is potential declines. It's a fad.  Like any pump and dump, the profit is in the sales.

6. BTC's real profitability is through market manipulation, the absolute value is irrelevant. Coordinate actions by whales, or quotes by Elon Musk can cause big moves.  It's profitable in both rises and crashes, with the retail investor paying the price.

7. Elites run the world and fiat is easier for them to manage, and pleebs follow them in exchange for small boons.  Elites move their fiat systems to CBDC with an XRP model, since XRP was designed to emulate a Fed (which is why us government locked it down). It mints and owns the XRP and passes them into circulation to banks it sees fit.  No, your XRP will have no value . They will copy the code and issue CBDC tokens.

8. Fun Conspiracy. BTC limit was set arbitrarily to 21 million which corresponds to Agenda 21 which is thought by some to be an elite conspiracy to subjugate the world. . Let's save MSM the trouble and agree.... "there is no evidence of that".