Is Bitcoin Over? - page 30. | Bitcointalksearch.org

Lambolife

jr. member

Activity: 102

Merit: 3

Quote from: johnygrace on January 02, 2019, 11:24:14 PM

Because at the moment it's not the end of bitcoin and altcoin because in cryptocurrency, administrators continue to support existing markets as long as possible and don't have to worry that it will end because investors will help the platform to become a bounty hunter will remain strong

I dont think we will last if we rely on bounty hunters. At some point (and I think we're already there) people will want cryptocurrencies or blockchain tech to drive revenue to companies or become a popular internet currency otherwise they will go near zero.

Lambolife

jr. member

Activity: 102

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Quote from: shield132 on January 02, 2019, 04:21:07 PM

At first I would love to answer your second question. I can give you pretty good examples of this. The republic of georgia accepted Bitfury's proposal to build their greatest mining datacenter here and offered very cheap electricity + they and government work together on integrating blockchain technologies. Such a small country appeared in a map of bitcoin world because of Bitfury's biggest datacenter and how they try to implement BC technologies. This can be an example for developed countries.

Okay but never was a fan of big mining companies like Bitfury or Bitmain

Quote from: shield132 on January 02, 2019, 04:21:07 PM

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

Decentralization is needed though, for the currency to be censorship resistant, no central point of failure, open, etc. If there is a leader, then there is someone the government could take down or forced to submission for the currency to die.

wahyu wida

full member

Activity: 826

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Quote from: cizatext on January 03, 2019, 02:15:10 AM

I must say you title almost shifted my opinion on the subject matter, but to start with why so many attempt to created cryptocurrency before failed was due to centralized method being use and bitcoin happen to do away with that to come out as the first decentralized coin which is why it succeeded to this point and I think that is an advantage for bitcoin to remain anonymous free from third party influence and so on.

Centralization method is contrary to the system used by bitcoin, so that many governments are rethinking to legalize it, because it involves the economy of a country even though this system feels effective and efficient

cizatext

member

Activity: 952

Merit: 41

I must say you title almost shifted my opinion on the subject matter, but to start with why so many attempt to created cryptocurrency before failed was due to centralized method being use and bitcoin happen to do away with that to come out as the first decentralized coin which is why it succeeded to this point and I think that is an advantage for bitcoin to remain anonymous free from third party influence and so on.

OnceTwiceThird

member

Activity: 606

Merit: 10

Impossible bitcoin could be over because many investor keep trust with bitcoin, keep holding and waiting with bitcoin growing up to higher price, maybe bitcoin could be over when all country have banned bitcoin.

johnygrace

newbie

Activity: 107

Merit: 0

Because at the moment it's not the end of bitcoin and altcoin because in cryptocurrency, administrators continue to support existing markets as long as possible and don't have to worry that it will end because investors will help the platform to become a bounty hunter will remain strong

HabBear

hero member

Activity: 1106

Merit: 637

Quote from: Lambolife on January 02, 2019, 01:25:27 PM

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

By definition for an investment this has to be an incorrect definition. Intrinsic value of an investment is the net present value of the future cash flow, value, or utility that the "investment", Bitcoin in this case, provides.

And in this case for Bitcoin it's really the future value and future utility. Bitcoin was created to be a currency but the market is actually using Bitcoin as a store of value. There hasn't been an a significant increase in use as a currency.

If you want to compare Bitcoin to Gold, gold only has intrinsic value because we humans believe it is valuable.

If you want to compare Bitcoin to fiat currency, fiat currency only has intrinsic value because our governments say it does.

Maybe the intrinsic value of Bitcoin is inversely correlated to the confidence people have in their government. If there is distrust in government the intrinsic value of Bitcoing goes up because it allows us to store wealth in a unit of measure that is not owned by the trustless government.

Quote from: bitmover on January 02, 2019, 02:29:24 PM

Quote from: Lambolife on January 02, 2019, 01:25:27 PM

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

~~I don't agree.~~

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

Actually, you do agree. You agree that the intrinsic value of Bitcoin comes from its "platform" because you state that Bitcoin is successful because it is decentralized.

Lambolife

jr. member

Activity: 102

Merit: 3

Quote from: lyancy005 on January 02, 2019, 04:16:09 PM

Bitcoin is just used for some reasons to people to make their self rich with this. And somehow a lot of people doesn't even care what could it do in the future.

Well I care and maybe you care too. It doesn't have to be everybody as long as there are still people genuinely interested in more economic freedom and less abuse from governments then lets keep fighting for this.

bitmover

legendary

Activity: 2352

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bitcoindata.science

Quote from: shield132 on January 02, 2019, 04:21:07 PM

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

I think it's not a matter of "interest".
Ripple is a cryptocurrency which has a totally different goal than bitcoin's.

Bitcoin is supposed to be a global currency, to flatten financial relations worldwide. Allowing anyone to make cheap and fast transactions to anyone, anywhere in the world. Uncontrollable by any government, "unprintable", etc...

Ripple (xrp) has nothing to do with that goal. Xrp goal is to facilitate internal bank transfers, allowing banks to transfer money between them cheaper and faster. The goal is totally different. It needs to be centralized, because it is a private service, and xrp never intended to be used globally and uncontrolled.

shield132

hero member

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Quote from: Lambolife on January 02, 2019, 01:25:27 PM

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

At first I would love to answer your second question. I can give you pretty good examples of this. The republic of georgia accepted Bitfury's proposal to build their greatest mining datacenter here and offered very cheap electricity + they and government work together on integrating blockchain technologies. Such a small country appeared in a map of bitcoin world because of Bitfury's biggest datacenter and how they try to implement BC technologies. This can be an example for developed countries.

bitmover
I think people lost an interest (at least a little bit) in decentralization because as you see ripple is second coin on coinmarketcap. Also Security tokens (which has to pass all regulations) are gaining popularity too.

lyancy005

newbie

Activity: 7

Merit: 0

Quote from: Lambolife on January 02, 2019, 01:25:27 PM

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

Bitcoin is just used for some reasons to people to make their self rich with this. And somehow a lot of people doesn't even care what could it do in the future.

Lambolife

jr. member

Activity: 102

Merit: 3

Quote from: bitmover on January 02, 2019, 02:29:24 PM

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

As it is decentralized, it cannot be shut down. A powerful government cannot shut down bitcoin now.

Proof of Work algorithm protects the network, as it is required the energy of a small country to 51% the bitcoin network.

There is no place where you can nuke with missiles and destroy bitcoin database. You can sure track some important actors and neutralize them, but it would not kill bitcoin.

I agree

Quote from: bitmover on January 02, 2019, 02:29:24 PM

Decentralization is what made bitcoin possible.

IMO, censorship resistance and lack of central authority are endgoals of a world currency, not a mean to an end.
The goal is the decentralization and the lack of central authority. This is why bitcoin was created.

I meant that decentralization is a means to an end and that the 'end' is censorship resistance, no central point of failure, no collusion, yadayadayada. I mean you don't look at the sun and say "I don't like it because it centralizes power at its core." So decentralization does come with benefits in crypto but its not the only thing that gives it value though. I mean the users are really valuable to the ecosystem.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: Lambolife on January 02, 2019, 01:25:27 PM

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

I don't agree.

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

As it is decentralized, it cannot be shut down. A powerful government cannot shut down bitcoin now.

Proof of Work algorithm protects the network, as it is required the energy of a small country to 51% the bitcoin network.

There is no place where you can nuke with missiles and destroy bitcoin database. You can sure track some important actors and neutralize them, but it would not kill bitcoin.

Decentralization is what made bitcoin possible.

IMO, censorship resistance and lack of central authority are endgoals of a world currency, not a mean to an end.
The goal is the decentralization and the lack of central authority. This is why bitcoin was created.

Lambolife

jr. member

Activity: 102

Merit: 3

To kickstart crypto 2019 I decided to make a Bitcoin mini documentary: https://youtu.be/WgxD5DmS6z8

Things I talked about:

1. Bitcoin's intrinsic value
2. How it could help underdeveloped countries
3. How it could help developed countries
4. Censorship

Now I wanna ask your opinions on my main point which is:

"Bitcoin's intrinsic value is the amalgamation of the platform, its users, and its development."

Now I know some other more famous crypto influencers have mentioned things like decentralization, cost of production, etc., but I think those things are a means to an end and not the endgoal themselves. Like decentralization is for the purpose of censorship resistance and fraud prevention.

So you I wanna know your opinions guys. Agree or disagree doesn't matter as long as you explain your point. https://youtu.be/WgxD5DmS6z8

Topic: Is Bitcoin Over? - page 30. (Read 27769 times)