Topic: Satoshi's vision has not been achieved! Why? - page 2. (Read 326 times)
Satoshi bitcoin was successful. Don't be negative at it! Without bitcoin we don't know blockchain and every altcoins in the marketcap should be valuable they are the promising coin of the future alot of talented developer are onto it.
His vision paved the way for crypto currencies as we know them. It was a way to move banking back to the people and away from big banks. Everyone sees their self as investors in bitcoin. If transactions were 100 percent free then there would be no incentive for miners. For bitcoin to flourish we need to have miners.
Why has Satoshi's vision for the Bitcoin as a peer-to-peer electronic cash system failed?
How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
I strongly believe that Satoshi didn't personally wanted others to go for his vision of things, but he rather steeped out of the project and let others - the community to decide how they want this bitcoin to be and what path it should go for.
I don't really understand what investors have to do with bitcoin being "centralized" (I draw this centralized conclusion based on you saying Napster)? Most investors simply have paper wallets, hardware wallets etc. and they simply create value by trading and they don't influence on the bitcoin network, I mean they could through mining but so far we haven't had any problem with that, or at least I don't see this as some big issue.
Plus I don't have big issue with paying few cents with LN/SegWit at the moment. If you are looking at free transactions then check some other coins such as IOTA.
Why has Satoshi's vision for the Bitcoin as a peer-to-peer electronic cash system failed?
How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
Nothing is free in this world. If you want to provide free service then go ahead - be the altruist and pay for it.How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
Life will always find a way to verify business plan of every possible endeavour. When Satoshi designed Bitcoin no one could be aware of what future will bring.
We have no idea how Bitcoin will evolve - it is far too soon to cry about it and claim that 'electronic cash system failed'.
The investors have not ruined any vision. On the contrary, they are the ones which keep Bitcoin alive and running, together with the miners. I acknowledge that it is still fairly complex for mass adoption, but the fundaments remain. And it is evolving and in my opinion, the implementation and use of the blockchain is changing the world.
I don't think the vision is failed. Satoshi introduced the blockchain technology and even if bitcoin is not used for peer to peer transactions, for sure another cryptocurrency will be used in future for such transactions. Blockchain technology is still new.
Now bitcoin has problems due to its low bandwidth, and therefore has a massive hang of its transactions and even high commission fees. Apparently, Satoshi Nakamoto did not count on such popularity of bitcoin, having established scalability in ten transactions per second. However, one can not say that his vision was not justified. Bitcoin is created with open source, that is, it remains open for improvement and it was precisely this vision of Satoshi for the growth of bitcoin as the main type of crypto currency.
Because it still remains too fundamentally complex for the average person to understand, let alone use - its fairly abstract, and although people are willing to except abstraction, when it comes to their money it takes a while for a notion, any notion, to catch on (think of old ladies at a grocery store who still write checks by hand). I'd say that only recently has it moved beyond a mere "novelty" for most people, and even then, their understanding of it is mostly now as an asset class and not yet as a currency (and, based on the talk on this very site, I'd say thats the case even for most so-called "true believers".) The problem is though, that this very misunderstanding (that its a speculative asset and not a currency) has essentially made it so that it can't really function as a currency in almost any meaningful way, since a functioning currency needs enough stability that it can be used predictably, while, as we all know, crypto suffers from extreme fluctuations at present. If the price ever stabilizes (and I don't mean for a month, but for a long time) then perhaps it could eventually be "restored" to its original purpose.
Why has Satoshi's vision for the Bitcoin as a peer-to-peer electronic cash system failed?
How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
How did the investors ruin the vision which was similar to the Napster where data was shared at its own expense and received free of charge?
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