Topic: I have a doubt about Bitcoin (Read 1106 times)

i'm not smart enough to know so much about LN and liquid and dev issues but if all of this is true then bitcoin has some problems. i think it's a good place to wrap up this thread and lock it. and leave people with your thoughts on the matter which i have enjoyed getting to learn about throughout this thread. i hope people will take them seriously.

new features in the last 5 years like segwit/taproot were not added to give new features to bitcoin.
taproot was done to strengthen the weak bridge to liquid, to then grow the liquid network
same was so for segwit, to strengthen the weak bridge to LN
(both of them are still weak and the pegging mechanisms of both still have flaws. thus still a risk to not treat those altnets as a safe store of value. and instead should only be thought of as niche service networks for temporary use for specific limited usecases(as long as people are risk aware while using them))

over 5 years bitcoin fee's have not dropped to sub penny prices like promised. instead people have to offramp away from bitcoin and use other networks for sub penny fee's

over 5 years bitcoin transaction count has not exceeded the max tx possibility that was called out in 2010(7tx/s) yep

BITCOIN (not talking about the name borrowing subnetworks pretending to be bitcoin 2.0)
bitcoin has not had much development that actually allows more utility ON THE BITCOIN NETWORK

if we start to let 'msat' or LBTC tokens to be the measure of value. where people are locked into those other networks for months/years/forever, then it will make bitcoin irrelevant., because those other networks are already designing ways for people to obtain those measures direct from fiat without ever having to buy/hoard bitcoin.

the dev politics of sponsoring devs to spend the last 7 years concentrating on ways to create subnetworks that offramp people away from bitcoin. has caused alot of dev politic controversy while not letting bitcoin, as bitcoin to evolve in-of-itself

we should not be complacent and just let things happen with human emotion of trust and loyalty that "core" know best. we should actually care about the bitcoin protocol and be on the watch out for those in central control, and keep them under our watch and not fear calling them out when they are not helping the bitcoin community and he protocol

even the lead maintainer is calling out on the centralisation of core, and also how things need to start evolving,
getting back to a place of a decentralised network not a distributed network
getting back to a open gated network, not a open source

yep saying open source is like saying "an open newspaper". its just means you can read the inside pages, it doesnt mean anyone is able to be a reporter/editor

i am a bitcoin maximalist. i fully support bitcoin(the protocol) and want to protect it. i am not a business loyalist.
i am a realist i dont spout out over promises and utopian dream sales pitches of exaggerations.. nor do i fear calling out the limits and flaws.

bitcoin has great potential but the last 5 years has stalled, that needs to change

Bitcoin must continue to change and be dynamic. The best form of bitcoin is not gotten yet, and that is the beauty of open source protocol. Apart from the coding part of it, bitcoin is still a young technology, it is barely a decade old, for it to be successful on the long run, it must continue to be updated and that is the only way to solve totally the scalability problem of bitcoin.

What does any of that have to do with the topic at hand, though?  This is a discussion about development, not markets.  Go waffle about speculation somewhere else, please.  It's not like we don't have enough of those topics already.



Ditto for this.  It helps if you actually read the thread before replying.

Agreed. Thats why I like it. But emotional attached - no. Its actually easier to track/trace, and block everything you do with blockchain. Networks could easily be seized by central banks if they were not manipulating the price being the biggest market movers lol.

The unpredictable nature of the cryptocurrencies is a major reason why we are able to make money through trading. If the market was not moving, there would not have been any chances of making money.

Everyone has a different understanding of Bitcoin, also beliefs, we are on the internet in an intangible world, but you can see, Bitcoin has different feelings for everyone, if you believe or not believe, do it or back off, it's your risk whichshadow yourself.

100% agreed there mate, there is no person who would be hurt by a bitcoin "payment" system, you will be able to get money from all around the world if you did that and that's great. But on top of that the decentralized version would make sure that you can reach out to the whole world and yet nobody can reach out to you at the same time.

I can sell something to a person on the other side of the world, but my own government can't touch a single cent of my crypto if it's in my own wallet (may block exchanges or something so it is better to have it on your own wallet). The existing system just sucks, big time, it allows 1% to be rich, and 90% to be poor and only small percent to be "decent".

dont doubt - buy now 

You cant really stop the inevitable considering that Bitcoin did really gain up much attention and since there are developers who could really make their own coin similar to this then this is where things do start.
Lots of shitty coins that we do have in the market but there are projects which are relevant and actually able to get some market share and dominance in the market and since people do really loves on diving
into things which is more cheaper then they are really going into those alternatives and consider on making out investment with it.When you do have doubts on bitcoin then it is your choice
but to look on the other side where there's a huge support on it.

Bitcoin has reflected massively in the current era and everyone has become tolerant of Bitcoin. Bitcoin is one such crypto coin that has taken the cryptocurrency world by storm. You may notice that Bitcoin is one of the most reflective of its only perceived cryptocurrency.

That's right. BTC code is spolied now and now BTC is not original bitcoin

These monkeys made so many changes that BTC is no longer the same

That's why we need to avoid the rest shitcoins and only focus about Bitcoin, because shitcoins didn't help Bitcoin at all and it just make the crypto environment bad due to exit scam project. Bitcoin protocol could be changed, but everyone who're the creator and the contributors on Bitcoin technical development wouldn't agree and will stick with the decentralized nature of Bitcoin. This mean Bitcoin has no chance to scam, but the centralized exchange and scam wallet is.

You don't have to think about it because bitcoin is the main attraction in the market. I've just mentioned the other projects because of the upgrades that they do for so many times. As you say about the increase, it's probably the price that you're talking about. It's always like that when bitcoin's price increases, then the rest follows.

All of them rides to bitcoin because it is famous and most projects are relying on it. This is the reality so whether there will be or there's no development for bitcoin, they'll remain the same as what the other projects do.

When Bitcoin increases then other projects will also increase, so apart from paying attention to the projects you said, I think Bitcoin is also very important to pay attention to. and the development of Bitcoin was very influential on other projects. it's true that every project will need development and they should grow, and I think the development of Bitcoin will help these projects.

That's true, but this time I don't want to go too far into the government system, there are many problems in that system, friend?
which in real practice, bitcoin has advantages over the existing system, people like bitcoin because it is decentralized, we become kings in managing our own finances.
Of course not everyone gets the chance. But for people who know, they will definitely choose bitcoin as the best asset

the thing is those "protection features" of credit cards.. are also abuse features.
many many times scammers actually use those chargeback features to scam..
they buy a product. then pretend their account was hacked to get money back. thus get product for free..

yep chargeback scamming happens alot. many retailers have to add in extra things to then reduce the amount of chargeback scamming. (extra protection at fund recipient end)
meaning fiat is easy to send, but easy to return which then needs an extra step tp protect against the easy return at the recipient end(3 step process and still not immutable/free of risk)



bitcoins finality and immutability of settlement is good security. its a 1 step. where by people need to actually control their spending and they themselves have to be risk aware and secure about their fund store right from the first step.

rather than relying on middle men to take on the risk/control your value, where then the recipient then needs to protect against the middleman ability to reverse

you can ofcourse use custodians and have that system.. but then its a 'not your key not your coin'. so why pretend to say you are a bitcoiner

Why haven't you looked at many other projects, they're keep on developing and you're only focused on bitcoin? A project has to keep on developing because that's how it must be. If there's no development, there will still be some complaints to be made. I may agree to you that when it's too much, it doesn't look good but that only is what I think if the development isn't attached to its purpose and current status. But as for bitcoin, it isn't really that much of development and it's still good as it was and this is why it has a consensus.

That's just one part of the decentralized part and that's why I like it. Another part is that fiat is controlled by governments and as we all know politicians are bad, slimy, corrupt, terrible people who would do anything to get their votes up, most of the time that means making the nation worse for the short term in order to win elections and terrible for the long term.

This is why it's always better to have a chance at what we can do with crypto since politicians can't touch it. They can ban it, or allow it, but they can't do anything with it. Bitcoin is the king of this, it can be seen as the biggest thing that governments will lose against, since it will give people financial freedom away from their governments all around the world.

What makes bitcoin different is that we set up our own security system, either through an exchange or through a wallet.
It is called decentralized bitcoin, because it has the freedom to set up a financial security system, without any authority like banks and other financial institutions, and this gives freedom to anyone.
Of course there is a degree of weakness, but I think the benefits are greater in practice that I experienced.

Regarding fraud, cases of fiat currency also often occur, so the benchmark is not seen from there, when you make transactions using bitcoin, we automatically understand the impact, on the problems we must avoid