has bitcoin achieved its goal? - page 5.

Shallow

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

I think there are no stipulated or highlighted goals of Bitcoin but however, I believe one of the goals of Bitcoin which is to create a peer-to-peer method of transactions has been achieved for a very long time ago. Bitcoin is regarded as the best and most trusted coin hence making it more trustworthy than fiat; I think this is another goal achieved. Also, the aspect of decentralization where users can decide what happens to their asset while maintaining all manner of control whilst privacy is achieved in the all process; I think this is another goal achieved. Bitcoin has achieved a lot such as bringing people together from all part of the world to transact on a cheaper fee. Furthermore, I believe to an extent that Bitcoin has achieved that aspect of people using Bitcoin as a payment method but it is not as huge as it's meant to be, however I see it as progress and it's only a matter of time for more people to start using it as a payment method.

fishbonez11

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

No one expect that this Bitcoin will be as big as it is now. In fact, people who had bitcoin before spend it unwisely. It's value just realized when price started to spike. And through out the years, people have seen so much potential and the goal already never ends. The only goal is when all the people around the world will discover and used it as for the day to day basis.

hatshepsut93

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Quote from: coolcoinz on December 06, 2020, 10:19:43 AM

You can't make everyone accept bitcoin. This is a free world and a free market and I can tell you that I already know that at no point in time there will be "everyone accepting bitcoin", and it's all due to one simple reason. Does your local store accept Japanese Yen? If it does then it does not accept British Pound and Euro at the same time. There are no stores that accept all the world currencies, you first have to exchange them, so don't expect the world to suddenly accept bitcoin.

Theoretically, there's a huge difference between Btcoin and any fiat currency: because Bitcoin is both digital and decentralized, any store in the world can technically accept it if they have Internet connection, which is not true for fiat currency, as most countries restrict or don't allow foreign currency to be used for payments. So, in theory, Bitcoin could be mass adopted, if only people were willing to do so.

stomachgrowls

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

It had already achieved its goal on the sense that people did really saw about its true usage and benefit but talking on the adoption scale then we are still moving and to think that
Satoshis vision or goal is to make out a peer to peer payment without 3rd party intervention then thats already a success basing off on number
of people who do recognized this tech.

It might not be fully adopted yet but we can at least see the progress and yet big companies are now trying to adopt and integrate it which does
signify that this one is doing pretty well.

Lets be patient and lets see on how this far will go.

Oceat

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Quote from: 0t3p0t on December 06, 2020, 10:39:52 AM

From a new form of currency that can be used as a payment method into a new form of investment asset has made Bitcoin even better. It always depends on how we are using Bitcoin there is no specific goal. What makes Bitcoin the best is that we choose it because of convenience.

Yes, it always depends on how people view Bitcoin as a currency or an investment. Satoshi did not set a goal on how Bitcoin is being used, Satoshi just wanted a crypto currency that no single entities controlling the system or a decentralized system. That's why lots of people are using and adopting Bitcoin because of its feature. Sooner or later the market will grow even more because more and more people will start to trust and believe in crypto currency especially to Bitcoin.

ChrisPop

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There is no pre-defined goal indeed, but deep down we all know cryptocurrencies are better than what we use now. Fiat currencies belong to the past. We need to step on the acceleration and hurry up the adoption. It's just our old habits that are holding back.

I think Bitcoin's "destiny" is to both become the universal standard of value and mean of payment.

Imran232

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Quote from: ranochigo on December 05, 2020, 10:03:35 PM

I don't think there is any pre-defined goal for Bitcoin, nor there is any one that is able to set goals for Bitcoin. Depends on how you view it, the very invention of Bitcoin fulfilled Satoshi's goal to make a currency that's trustless and decentralised. I don't think he ever envisioned Bitcoin to become this successful and thought of it as a way to make micro transactions.

IMO, the very end (and ideal) goal of Bitcoin is for it to achieve widespread adoption. Until we are ready to ditch fiat and go for Bitcoin, that won't happen any time soon.

I agree with your every point that bitcoin has not any specific goal its depends on point of view of bitcoin holder dose he happy with his position or not. I totally loved your that two point which are:
1. There is no one who is able to set bitcoin goal.
2. The inventor didn't think that much that how much his invention can successful.

sort_cirkit

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What do you mean by achieve? Bitcoin has never deviated from its goal, nor will it deviate in the future. Bitcoin's risk of return is over 9,000 percent. I think Bitcoin has already met its achieve and is on its way to the future.

Stedsm

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I believe the main goal of BTC is to reach a million dollar mark according to Satoshi. Next is, its adoption and we are seeing it, but I don't believe BTC is going to get accepted as a payment method anymore because of its price and its fees, as it can now only be seen as an investworthy asset class.

babuB

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Are there metrics to measure how much is Bitcoin used to buy stuff? I totally see why merchants tend to integrate BTC as a payment method, but in the end it's for now use as long as most people go crazy about the last ATH.

I see how Bitcoin can fill a nische and I believe it's mere existent is important, but I doubt it will ever get general relevance outside of the investment market.
I mean, who would even consider to sell Bitcoin to buy a new car, at the moment? Or even the daily coffee? [PS.: don't want to imply it's a bad time to sell bitcoin, but to demonstrate that bitcoin is not used as a store of value or even a currency that you just happen to have and use in your daily life]
You might use a system with a middle-man that changes your USD into BTC instantaneously to buy a coffee, but that negates any potential benefit of Bitcoin as well so you could just use your regular credit card.

Cling18

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Looking at the developments and improvements of Bitcoin through the years, I could say that it has reached and achieved lots of achievements and goals. It still has a lot to achieve in the future like more adoptions. However, it's now being accepted by lots of merchants and huge businesses so I do not doubt that more surprising developments will happen in the future. Bitcoin couldn't please everyone but as more people get to know its capability, it's building a stronger foundation because of people's trust.

babuB

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I don't quite understand how Satoshi was very smart about the incentives to have Bitcoin work but didn't figure out that nobody is gonna use Bitcoin as a currency without a proper inflation mechanism. Even X+ years ago, people where telling 'at one point in time, all Bitcoins will be mined'. So for many years now, most people buy Bitcoin not to buy stuff with it but hope that more and more people will buy Bitcoin. Without a proper use case, this is not much more than a ponzi-scheme.

I really hope that in the end, Bitcoin and it's correlates will be more than a system to move money from normal people to scammers and "institional investors" (aka those professional scammers that brought us multiple economic crisis), but I fail to see that at the moment. They might just milk bitcoin until regulation successfully stops it and all that will be left is the idea of currencies owned by FANG vs. digital currencies owned by goverments to tighten the control of it's citizen.

0t3p0t

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Peace be with you!

From a new form of currency that can be used as a payment method into a new form of investment asset has made Bitcoin even better. It always depends on how we are using Bitcoin there is no specific goal. What makes Bitcoin the best is that we choose it because of convenience.

fiulpro

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

Hello
I actually believe that Bitcoins themselves doesn't have a goal , other than *helping people to achieve their own personal ones* which does mean that the goal in contrast to Bitcoins might be different for both you and me.
For some people the goal might be : Storing Bitcoins and investing for a long run.
For some people it might be : using Bitcoins time and again for their needs and maybe using it as a source to transfer money

Some people even use it to expand their business but finally they convert it into fiat and there are companies who are actually investing more than a 10% of their income in Bitcoins.

I do believe it have achieved it's initial goal which was : Acceptance

For sure we do have some drawbacks and some countries not still accepting it but I do think that we just have to give this time.

coolcoinz

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You can't make everyone accept bitcoin. This is a free world and a free market and I can tell you that I already know that at no point in time there will be "everyone accepting bitcoin", and it's all due to one simple reason. Does your local store accept Japanese Yen? If it does then it does not accept British Pound and Euro at the same time. There are no stores that accept all the world currencies, you first have to exchange them, so don't expect the world to suddenly accept bitcoin.

catur123

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I think bitcoin's main goal is to make transactions easier for everyone without the other party.
But to achieve that I have difficulty because each country has its own way of conducting transactions that are regulated by the government of that country.

Casdinyard

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

Accomplished a lot? I don't think so. In my perspective, Bitcoin is originally a digital currency and the difference from traditional digital currencies is simply decentralisation wherein transactions would cost less and faster at the same time. The only thing I think Bitcoin have achieved is support from people who benefit from its advantages but what's important is that it have established large community of users or I would say investors. Bitcoin still is not being used on daily transactions because it is more often used on investment purposes which is not a bad thing.
Thus, there's still more to happen in order for this technology to fulfill its "goal" or purpose in our lives.

goldade

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

You're absolutely right. Bitcoin was made to be currency to spent on goods and services, used as a store of value, used for settlement of debt just like the US dollar or the Euro. I'm sure everyone here agrees that bitcoin still has a long way to go to do just that. Bitcoin has to be adopted by everyone for that to happen
I, however, would say we shouldn't just write off the accomplishments of bitcoin over the years. I mean, bitcoin has risen from obscurity ten years ago to being adopted by top financial institutions such as PayPal and Visa. While there is still a long way to go, I believe bitcoin has done relatively much in terms of adoption by the masses compared to ten years ago

Jeger.Kiting

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Quote from: Dokdo766 on December 05, 2020, 09:59:23 PM

Bitcoin has accomplished a lot over the last few years and deserves a lot of credit for it but has not achieved its goal yet. Bitcoin is set to achieve global protection whereby everyone will accept its use in terms of payment methods and apply it to their business and transactions.

even though it has been several years that bitcoin has been doing extraordinary things up to this stage, there have been several things that bitcoin has done and that's an extraordinary achievement, even though we don't know the goal that Bitcoin wants so far I think Bitcoin has found a goal that is they are looking for, at least already, to get a place in the hearts of everyone, especially all of us, it's just that some people who know Bitcoin, not everyone knows its strength, maybe the next goal is, to become the worldwide currency ..

sunsilk

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It is satoshi that has set goals for bitcoin. Bitcoin as a payment system, as a programmed currency, and digital money will thrive its way based on the creator/s of it. And with that said, the creator/s, or specifically satoshi has reached its goal.

What matters these days is the holder's goal. If you hold bitcoin then determine your goal while having it. You prefer to hold it and wait for a higher price or you're liking to use it as payment for whichever transaction you do online.

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