Topic: Is the objective of bitcoin redirected? - page 2. (Read 272 times)

But you can still used it as payment system isn't it? What do you mean old? There is one recent development, which is LN (lightning network),  to enable instant payment.


Again, the purpose is still there, maybe the right term is that it has evolved because it become a class asset. Nevertheless, bitcoin can still be used for micro-payment scheme as envisioned by Satoshi himself.

He got influenced to believe into those things? Possibly yet its not really that rare that there are lots of wrong informations or show ups against Bitcoin on which these newbies or
do lack out of experience would really be ending up on having this kind of impression or belief just because they have seen it somewhere.IT was never been intended for the sake
of investment on the first place.If they do just look basically on its whitepaper alone then they would totally get on whats the true motive on why its been created.

You wrote a bunch of bullshit because you clearly have no idea what Bitcoin or how it works, and you probably got ''educated'' with this fake knowledge on youtube watching shitcoin promoters.
Bitcoin is not old technology at all, it is only decentralized coin that exist in the world, all other shitcoins are centralized and they are not using any new revolutionary technology.
Nothing is redirected for Bitcoin, except maybe attention of some people who are blinded by greed and fake promises if ICO's schemes with premine.

bitcoin doesnt need to change. EG it doesnt need to alter itself to fit silly things like LN. when it can just peg off a sidechain that allows more utility. either with faster blocks or bigger blocks or changing the units from sats to sub-sats.
smart contracts are gimmicky without a blockchain(network wide audit) so instead of changing bitcoin to meet some silly smart contract network of no mass audit security. bitcoin can offshoot many sidechains..
EG US.bits(american bitcoin network for 100sat denominated transactions)
EG UK.bits(british bitcoin network for 100sat denominated transactions)
where bitcoin mainnet is the IMF/world bank of many sidechains

At most, you'll see litecoin, ethereum, bitcoin, bcash, maybe doge - as has always been the meme - and stable coins being accepted by means of payment for more widespread usage.

Bitcoin is the most secure crypto we have, it has the largest user base and is the most heard of crypto by common folk. This is why it's invested in, it being slow isn't really a problem when speed is a tradeoff for security.

If everyone wanted to, they could move to a cheaper chain with faster transactions on mass and cause everyone else to move - this hasn't been done, clearly people have the most faith in bitcoin compared with other crypto assets.

bitcoin was meant as a currency for the unbanked.

some seen it to mean 'new cash system'(daily spend) method, others deem it as a 'asset class'(savings account) method
some see it as a base protocol for side projects

most altcoins and their side projects are just gimmicks,
yes they get viral meme trends. but they dont actually get much usage

take DOGE.
soo many memes but only 30k asics mining it.. yet bitcoin has 1.7mill asics
bitcoin is 58x more mining devices than doge(comparing most efficient asics per network)

ethereum are about to 'detonate diff bomb' to move away from PoW mining. they know they cant scale and so their coin is going to turn cheap when more people profit from a negligible passive cost of just "stake and wait"

who's going to want to pay $3k for eth on the market if they can stake for $0loss and wait X hours to form a block for:
$1.09/eth ($2.40 of pc electric for 2.2 coin(current estimate of 7% of network staking))
$15.58/eth ($34.29 of pc electric for 2.2 coin(current estimate of 100% of network staking))

no one will pay $3k/eth when they can 'stake and wait' an eth for $1.10- $15.60.
expect Ethereum price to correct down massively when it flips to PoS.

bitcoin will remain a strong network. giving it a good bases for side projects to rely on its security. yes some projects have had mega flaws and not become the "solution" presented 5 years ago. but that wont stop bitcoin from trying other things

bitcoin can create its own NFT sidechain.. its not that difficult

What "value" did you want it to add to your "real world"
Because from what I see, it has already achieved a lot.
- Thanks to Bitcoin I can now transfer funds at low fees
- Bitcoin made the blockchain technology more popular and more institutions are working on using it
- As a retail trader, I can also be able to trade Bitcoin freely minus having to be restricted like it is with stocks, forex and other markets

How about the fiat system and so-called gold you like.

Nope it's not. It's perhaps your way of thinking that has been redirected.

Bitcoin functions as a peer-to-peer currency which basically makes it an alternate payment solution, and it is accepted by a number of merchants and also different platforms. But this was not the objective of bitcoin, it is a free, decentralized network you can use for different purposes.

The technology of bitcoin is more secure than all other altcoins. transactions speed and amount are also adjustable.

It wasnt redirected on purpose, it is just people do find out the other way on making it more useful in terms on making profits rather than on its true application as a decentralized thing.
Its true that it might be outdated compared into those new coins in the market but nothing beats out the king of crypto which is simply Bitcoin.This is the origin and the rest would
remain as an alternative and no matter how advanced it would be but still the demand couldnt really be beaten up but somehow nothing is assured on what the future looks like
but we know that demand and support would really be there.

I disagree with you, bitcoin is preferred in the real world and adopted as a means of payment compared to thousands of other altcoins. People can invest in bitcoin and make it a store of value because they want to make a profit and that is another option of bitcoin that you get other than as a means of payment.

Not everyone has the same thoughts about bitcoin as you do, while most people think that bitcoin is more secure, can increase privacy, and is cheaper than other centralized payment systems. You can choose your own fees when sending bitcoins and this will affect the speed at which your transactions are confirmed within a block.

In my opinion no, bitcoin's goal has been achieved although not everyone likes it. You can use bitcoin as a means of payment if you wish, but you cannot expect bitcoin to be legal tender globally. Bitcoin is the payment option if you like privacy and security, so bitcoin's goal has actually been achieved although not everyone uses it as a means of payment.

From the past decade, bitcoin failed to add any value to the real world. It was supposed to be an alternative payments solution but it become an assets class for storing values. Its technology is old, slow, and expensive compared to many altcoins. Still, people investing in bitcoin because of its extremely fast-moving advantages compared to other assets like stock and gold and its extensive nature. Is the objective of bitcoin is dead or has it's been redirected on purpose?