Topic: To those questioning why must it be Bitcoin (Read 182 times)

As long as we don't find out Satoshi's true identity, any conspiracy theory can come true, anything can happen. Even bitcoin could have been created for political purposes, conflict of interest between parties and politicians could be the reason why bitcoin was created.

I agree, bitcoin really failed as an inflation hedge in the 2022 economic crisis as it dumped heavily while other assets like gold continued to hit all-time highs. So to be fair, we don't have enough data yet to say that bitcoin can be used as an effective inflation hedge. This asset is too volatile, and will even be dumped with just fake news spreading, so how can it be an effective inflation hedge?

The conspiracy theory about Bitcoin being created by the CIA will remain forever. Can you prove that Bitcoin wasn't created by the CIA?
You can't prove this. Nobody can prove this, because nobody knows who Satoshi Nakamoto really was.



Bitcoin cannot save the people from inflation. Do you remember 2022? The level of inflation back then was really high, but the BTC price dropped from 44K to 17K USD. What kind of inflation protection is this? Bitcoin is just a volatile and speculative financial asset. You can make big profit out of BTC in two ways. 1.Being an early adopter. 2. Consistently buying low and selling high(most traders fail at timing the market, maybe a few succeed). The same thing applies to most popular altcoins. You make big profits by either being an early adopter or by buying low and selling high.

Bitcoin is different from every large cap coin out there. It has a huge market cap and due to its huge market cap it has a large difficulty and since the difficulty is large, it provides the greatest security out there. Sure there is ETH but you need to realise that its POS model is not perfect and the POS is mostly held by large whales and not the smaller retail people.

Bitcoin is different because anyone around the world can mine the coin as long as they got relatively cheap power. Its hash power is distributed fairly and not concentrated on one entity. Compare this to say Solana or XRP, which would you choose.

Lastly its the oldest and the first crypto out there. And Satoshis mystery adds some value since its interesting how bitcoin was created.

A lot would have doubted bitcoin because of some various reasons, but until they decide to buy bitcoin on their own, that's the time they will prove to theirselves that bitcoin is better than any other digital investments, in fact bitcoin is the best. For now, let these people criticize bitcoin, sooner or later they won't have any other choices when all the people are already rushing to invest in bitcoin and they won't allow theirselves to become left out.

Well, it mustn’t always be Bitcoin. You can diversify into other fields outside cryptocurrency but, when it comes to cryptocurrency, you’ve got a better stand with Bitcoin. Not because it’s where you would make the most profit from your investments and hodling, no. It’s however, the one coin you can buy and be at peace that, you aren’t getting any censorship or restart of the project given its decentralized nature and there isn’t any CEO to it.

ETH at some point had to restart the project to benefit its CEO and stakeholders. You can’t have that with Bitcoin. It’s the one coin all others use for a yardstick and have been known to be self sustainable.

Yes, likely as you said, decentralization has been the very trait which stared the early adoption of Bitcoin even until today. Bitcoin was created as a threat to the government, mainly as a currency but now we get to see a whole diversity from it. Bitcoin is now more diverse not only as a currency for payments and purchases but more reason has been drawn into a well secured system for investment, both for the long term and those who would prefer trading within a short period. I doubt if any currency aside Bitcoin will get to this same level, a few has been founded to compete but not in good comparison to Bitcoin.

Bitcoin has been criticized, since it's founding and yet we still get to record more adoption than those who are selling totally, this shows how competent it can be for us to record our investment funds on the Bitcoin system.

Bitcoin has always been the best, even though there are other tokens and coins that got out, and even though they had more features, none of them were ever as decentralized as bitcoin ever was and because of that we will never have anything ever go beyond that, that will never happen.

We need to remember that it is going to take long time for it to ever happen and bitcoin will keep on being the biggest one. This may not be great for everyone and some people may not like this situation but that is the case and you have to accept it. I know that we are going to end up with a greater deal whenever we get a chance, so it is going to be an important case of what we are going to do, this should be the most important part.

If you really trust bitcoin then you will have most of your investment in bitcoin and you are going to end up with a return that will not be too simple or crazy, you will end up with a good return and you will be happy, while it may not be x100 like some look for in shitcoins, it will be good enough and gradually you will become richer which is all bitcoin is for, nothing else is required about this and should be considered as the most important part of the deal.

Whilst this is true about Bitcoin that there is no central power that can control or manipulate. But with its market alone, there are several factors that can manipulate the market per se.

IMHO, there's no need to defend Bitcoin if it's government owner or made to the people. A simple thought of telling that it is a decentralized crypto and having its own blockchain is enough.

Let alone those people that keeps on arguing about that but I guess it's fine to inform the newbies about this matter if they haven't done their research yet.

There's truth with what you've said but I think one of the important factors here is about the timing. If the early technologies that's similar to Bitcoin were introduced at the right time, we wouldn't have Bitcoin. There's sort of inspiration from them that has been manifested to Bitcoin.

Anyway, it is another story that we'll never know if that's the case.

Bitcoin has became a store of value, a very valuable one over the period of time. The way it was introduced was an alternative but it has developed its value and the volatility has been seen so as the opportunity was found.

Well, if I were you mate. I won't spend time discussing about those who questions Bitcoin.

Yep, I too think that many people skip the future possibilities and implications because they either don't want to / unfortunately don't have to invest time, efforts, or even funds for self-learning.

This is true, the decentralization is the most important part, there is no person or organization or company that can control it, it is not controlled by anyone and that fact alone is something huge, nobody can go beyond that. It's theoretically fast, it's global at least and fast there, and it's secure, more secure than any other currency, and it's decentralized, when you think about all of that you realize that bitcoin is by far the best investment anyone can ever make.

This of course is not researched enough by everyone, some people just avoid looking into it all together because they just don't want something new in their life or have time to put crypto in their life, but the ones who check it mostly stays here forever.

Those who question Bitcoin could be a hater for all we know and perma-bear or just old and traditional trading that they don't know how crypto works in general and that they don't like to embrace changes. And since Bitcoin is challenging the status quo right now, many of them are not into it and doesn't want to evolved.

But to think of it, many of us are here, and for me who came here 7 years ago, I'm still here as I found that Bitcoin is really a life changer. We become financially independent and we enjoy freedom from the government although they have been mandating KYC from the rest of us. But, still no one can stop Bitcoin for now, it's the new revolution and so with that, if people will not acknowledge it, then they will be left behind.

Indeed Bitcoin has been a top notch not just in the crypto markets but has been a reliable source to balance to balance wavery  economy situations to some extend  in considerate of its potentials and how much similar technologies has been intended to be developed but all failed and exited.

But by when Bitcoin has been introduced and began to serve this potential values with the fact that it has taken shape and created some whole lot of apex that digital currency could be made possible creatively and attractive that it could be decentralized and centered beyond government control while on the operandi  at its blockchain.

This has been made feasible driving to the achievement of other cryptocurrencies gaining relevance through the existence of Bitcoin as they are all imitations to Bitcoin.
This has also created avenues where individuals introduces shitcoins just to scam the people in claim that they are valuably advanced with more utilizations to Bitcoin. There then I feel pity for newbies because they befalls victims to those unrealistic speculations.

People will give you obscure reasons that bitcoin been the no one cryptocurrency is probably because of its popularity or the fact that it was the first of its type. Most at times I would say to this set of people that the first in a market doesn’t mean you will be able to sustain the heat if at all you’re not tasked upto it, a newcomer can easily upsurge an existing commodity due to its quality, so bitcoin still very much at top and not only that the coins take or follow its trend simply means there is nothing they have that is more important to people to ditch bitcoin aside and that’s why it is has simply stood the taste of time and remains the number one coin

Bitcoin is dynamic with prices changing at every point in time. Same thing with other cryptocurrencies but the difference is clear no one can stand his ground to say that there is no regulatory body managing the existence of Bitcoin. People feel safer transacting in Bitcoin that nay other cryptocurrency which is one main importance in any financial sector. The question is how secure is the system?

Bitcoin is protected by Decentralization, Proof of work, and cryptography. This is what makes it exceptional.

It will always be bitcoin and nothing more, others are alternatives and are not the best option as the same as how bitcoin could give the expected result, many have been scammed and deceived by many online digital platforms that at the end they lost tier money and investment on them, because they are either shitcoins or scam projects, but under bitcoin network, nothing like this exist for the people to have a second thought of view because they are without doubt trusted with the network.

As you were able to understand that Bitcoin is a decentralized digital financial technology whose users are termed to hold their funds on self-custodial, it should be made obvious that it is not government owned inventory to say it can be manipulated in the the crypto industry as market for exclusiveness where other related financial system are hindered to be adopted or recognized as a force of gaining monopoly backup from the government.

The forces of Bitcoin possessing that most dominance in the Crypto markets is as result of its reputations and potentials which has made it even promising potentially to  posses more attribute dominance ahead the future.

Just letting you know that Bitcoin is not a government owned technology to be biased in subduing other Cryptocurrencies not to posses their own possessions in the societies relatively based on their potentials and capacities.

Hence, before Bitcoin, other intended digital currencies like Hashcash has existed which security mechanism was a program of proof of work and other digital technology also as eCash which is designed to perform transactions in a crypto dynamic such as the anonymity of executing transactions for security purposes but all these previous technologies before the existence of Bitcoin failed because their transactions and security mechanism were not achievable to accommodate such capacities as Bitcoin being the first developed cryptocurrency was refined and made achievable development through which it was able to perform both proof of work, decentralizations and the anonymity of its users executing transactions successfully at its blockchain.

The world need a rescue from the threats of the economy devaluations and inflations and also a new development where individuals would be at self custodial of their funds transactions  which Bitcoin has gathered those maximum momentum to encountering these challenges.

So to those who who questions why must Bitcoin keep to lead the crypto industries with their procrastinations that Bitcoin is not doing its best, since cryptocurrencies are decentralized, you can as well venture to develop yours to maximize the hedge to accommodate values ahead as Bitcoin potentials has been accounted.