Topic: Has Bitcoin already won ? - page 2. (Read 831 times)
For me bitcoin has already won. It is my primary and first to go-to choice for payments. MOstly everyone here knows why. For me it is just the speed and the guarantee that your bitcoin is yours when it is in your wallet. No chargebacks or things like that. Chargebacks would make me worry as a merchant since some people get nasty or seem to justify themselves making chargebacks in some wat or another when they really shouldn't be making any. Buying gist cards for steam and google play is so quick. I can't buy a gift card in-store at that speed. I must drive there first. Online I must use fiat which takes too long so a digital currency works will for digital things since the speed compliments one another.
https://youtu.be/UF528l8fqKk
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
I still do not understand why Bitcoin is directly compared to gold. Because of the value? I do not think that you can compare a tangible asset with a digital one. It is not right. "Gold Standard" sounds ridiculous
It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.
Bitcoin is like easy to spend stocks. When you buy at the stock market and buy oil or gold they actually have to trade that gold and oil (I know how primitive right?) Instead of wasting all that time when you can just take your stocks themselves to a place that will accept them and spend them directly. This is one of the main advantages I see crypto has over traditional stocks. Because they not entirely tied down to something they can be traded with more ease.
This can not be seen as that is enough. Bitcoin still has long way to go but it rapidly continues to develop. As long as Bitcoin has Blockchain technology, it will continue to improve.
There is no win or lose. Yes, Bitcoin is currently dominating the cryptocurrency space by far. However, there is no such thing as winning or losing because many coins have different purposes and Bitcoin just happens to be the king. So you can say that since Bitcoin is King, he is winning. but if the King has no population, then what's the point? So all of the coins matter because they contribute to the cryptocurrency infrastructure and ecosystem.
In my view bitcoin is the revolution and the fact that the world is moving into digitization era. bitcoin has already won the battle. Now Chinese government has legalize bitcoin as digital asset.. since satoshi created bitcoin in 2009 there has been allot of controversy over it but none defeated btc.. so the game is already won by btc.
Today, almost all the financial structures of the world observe the cryptocurrency market, analyzing it for possible real use in the economy of their countries. Based on this, the Central Bank of Canada has already published its report that it is concerned about the situation regarding Bitcoin, which today seems insufficiently efficient and too expensive to mine. As the document says, to get rid of this problem, you need to improve the speed and cost of the transaction. Experts from the Central Bank of Canada are confident that the problems will disappear after a complete change in the consensus protocol.
Bitcoin is like a digital gold. Maybe Bitcoin won't be accepted as currency by countries. But I believe that Bitcoin has a very bright future and it will be better choice compared to gold every time.
It can be both. It shouldn't be one or the other. While I think bitcoin is in a decent state already, but why should we stop there? Why not continue to improve the ecosystem to make it better? And that's why people are developing second layer solutions for better privacy and better transaction scalability.
I believe that the greatest victory for Bitcoin will come when major retail companies like Amazon, Best Buy and the rest starts to accept it as a means of payment. I am sure that a time will come when they start doing that very soon.Bitcoin being created by Satoshi Nakomoto, releasing it to the internet, using blockchain for this, started in a very cheap price and booming us every year for huge fluctuations(in a good way) is already a great achievement for that Bitcoin does every single day since its birth. Many people didn't believe on it first, but after years and years goes by as it evolves, those who believe in it and invested earlier made a fortune on it and it changed their lives.
And bitcoin is still doing that, every year bitcoin remains the king of all cryptocurrencies, surviving every obstacles its facing, but how? it is simple because Bitcoin is the winner since day one, and no one could ever replace that.
Every time Bitcoin rises up from a crash event, it wins.
And I think most people here would agree with me. I see news like Binance Coin continues to fall despite market recovery and people somehow link the failure of an altcoin to Bitcoin. And it infuriates me.
Then there are stories like that where the UK police force auction off more than £240,000 of cryptocurrency and somehow people think that Bitcoin's market volume is so weak that it can't sustain its prices if only an estimated $294,000 worth of BTC is dumped then the overall value of BTC would be depreciated..
Seriously, every time Bitcoin crashes and there are wild stories and speculation for the reason behind like those that I mentioned, and BTC keeps on bouncing back, and in all those times, Bitcoin wins.
Remember;
And I think most people here would agree with me. I see news like Binance Coin continues to fall despite market recovery and people somehow link the failure of an altcoin to Bitcoin. And it infuriates me.
Then there are stories like that where the UK police force auction off more than £240,000 of cryptocurrency and somehow people think that Bitcoin's market volume is so weak that it can't sustain its prices if only an estimated $294,000 worth of BTC is dumped then the overall value of BTC would be depreciated..
Seriously, every time Bitcoin crashes and there are wild stories and speculation for the reason behind like those that I mentioned, and BTC keeps on bouncing back, and in all those times, Bitcoin wins.
Remember;
"Bitcoin has been described as an undeniable form of wealth with an irrefutable book of records"
It is hard for Bitcoin to replace fiat money in the future. I think governments might not accept Bitcoin as local currency. But I think more and more people will start to use Bitcoin because of having the full control on their digital money. So, in my opinion cryptocurrencies will always continue to grow and there will always be new ones.
I don't think it moves along those straight lines really. Bitcoin didn't ever stop being a currency, it started as something that attempted to be currency, was finally used by a few people and then adopted by others.
It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.
Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.
Bitcoin is considered as currency, Everyone cant change that fact unless satoshi Nakamoto does a thing in order to change bitcoin. It's still a currency to guys like me, we only get paid in Bitcoin. This forum is full of Bitcoin users sending and receiving as currency.
Never took to the gold comparison myself. Investment? That's speculation and happens to anything volatile.
On the gold standard, Every gold that your country had is converted into fiat.
Regarding the post of OP. The gold standard doesn't apply to bitcoin. These are the reasons.
First, You can't convert all of the fiats into bitcoin because it has a fixed asset.
Second, you won't know who is the one who is holding bitcoins
Third, Not everyone can use bitcoin
There is more disadvantage than disadvantage thats why this will never be the new gold standard.
Um yeah, I was just saying I'm not really a believer in Bitcoin being the gold standard or that Bitcoin is Gold 2.0.
Rather different reasons (or at least, not all the same reasons as you) but yeah, you could convert out all the Bitcoin to dollars right now and not have enough coin, is one reason.
But are you saying we all know who holds all the gold as well? That's not at all possible.
Personally I feel that bitcoin has achieved a lot and have come a long way to the point of saying they have won. Winning is a continuous activity and with the present increasing awareness and dissemination of information about its credibility in this economy It just begs to tell how vast the winning platform is and will be for bit coin.
We still can't consider bitcoin already won because we're still in the process if developing and we're still working hard for mass adoption. I just want to mention what you have said, 'is that enough?'. We're not competing here with gold and other currency. Bitcoin wasn't made just to be called, version 2.0 of gold. These can work and function together.
https://youtu.be/UF528l8fqKk
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
First and foremost, Bitcoin is never Gold 2.0. Bitcoin was meant to be a digital version of physical fiat which operate of a platform where people will not need any third party for transactions to be made according to Bitcoin's whitepaper. It is quite unfortunate that the majority of people in the crypto ecosystem see Bitcoin as an investment commodity rather than a digital cash used for exchange of goods and services.
Bitcoin still need revolution how to promote around to the world and many people still do not know detail about how bitcoin working, have to legal bitcoin to make really become the winner at the future.
https://youtu.be/UF528l8fqKk
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Bitcoin was originally created as a digital store of value and also a payment system.
People have to choose whether to use bitcoin as a store of value or a payment system because the bitcoin is both.
https://youtu.be/UF528l8fqKk
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Who is he and why is his opinion the only true one? In my purely personal opinion, bitcoin is simply out of competition. Some new coins may have a better algorithm, but they appeared at the wrong time and in the wrong place. Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
Bitcoin has been able to address the many flaws of traditional currency and other centralized digital money, combined with its fixed supply and proof of work, POW, It's clear that bitcoin should be consider a digital gold by nations. If not for the sake of Mafias we have in the banking industry and bad politicians, bitcoin should have longed been given the necessary support by the government.
https://youtu.be/UF528l8fqKk
Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
In many ways, gold is the precious metal counterpart to the bitcoin. Gold must be obtained through mining, just like how bitcoin mined. But, while gold is obtained through physical mining, bitcoins must be “mined” virtually through the deciphering of special computer encryptions. Bitcoin’s characteristics have led to those backing the cryptocurrency to believe it could potentially unseat gold over the long haul, bitcoin is actually superior in many regards. Bitcoin is pretty much already considered Gold 2.0. Is that enough ? Does it still need to become a currency from here on ? Or is it the new "Gold Standard" that other currencies will be measured by ?
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