Topic: Understanding Bitcoin's Potential Realistically (Read 465 times)

Yes, bitcoin is money, an investment, nothing more, nothing less. Quite frankly, bitcoin is being treated as an investment asset more than anything else, the people who care about bitcoin other than profit, not so many people care about other things like anonymity, peer-to-peer or private. I also bet you, the people who are trying to inflate bitcoin are god, but they themselves only care about profits more than anything else. But I don't know if they are ignorant about bitcoin, or they are intentionally spreading that news for some other purpose.

Without getting into the philosophical debate about Bitcoin having inherent value or not, Bitcoin adoption was never supposed to be government endorsed nor was it ever suppose to solve the world's problems. Poverty, hunger, financial crises, etc. are all caused by government mismanagement, debatably. Currency isn't meant to solve these issues directly, it's medium for exchange.

A country with access to open markets and education can spur up economic activity from nothing. Given that some degree of education can be obtained online, the portion that's missing is access to open markets. Bitcoin provides aide in that regard -- it allows for easy P2P commerce.

I used to joke that with friends who later get married and have children the property I want them to receive is probably bitcoin, a strong trust with bitcoin. Why do you and I have such beliefs? Perhaps part of the experience from what we have learned with this market, to be honest, I am also slowly thinking about my life now to ignore future calculations, and bitcoin gives me many different opportunities in life, from work to friendship, or income I am really grateful for it.

The op is right that some expectations regarding Bitcoin are simply unrealistic. It can't fix global issues, and I think that even if we limit the expectations to the realm of money, Bitcoin can't become a dominant currency (if we measure its regular usage as money versus the usage of fiat currencies), and even sustaining a vision of 'on-chain transactions only' isn't realistic. Also, expecting people to not use centralized exchanges or custodial wallets is also likely to be too much because people often prefer comfort to decentralization.

I first went to Op youtube link and I was very happy to know more information about Bitcoin. Day by day the popularity of Bitcoin is increasing and many people are showing interest in trading in Bitcoin. Op One thing I can't agree with is that all the problems of the world will be solved by bitcoin invest but it won't be like that we have to think realistically. Those who are currently involved in Bitcoin are thinking of investing in more Bitcoins.

I would say it's also a good investment as well? I agree with everything else you said, it's a money and not a solution to all the problems but at the same time when we are talking about just money, we are missing the part that it's also an asset and can make you money as long as you keep it as well.

It is going to be hard to accept it and all that but I believe that we should be considering a problem if we do not hold it. Work for it, earn it , make money with it, and then invest in it as well if you have any left over after you spend it. That's how you should be approaching it. Do not consider it as a solution to all problems of course, but it could be a good investment and a currency to spend at the same time without an issue.

Bitcoin's innovative blockchain technology unquestionably represents a new benchmark in the world of monetary exchange. Its the currency of the people, if you will. Yes, Bitcoin has seen remarkable long-term growth. To not have seen the significant rise in value over time, you would have to have been living under a rock.

Dont get on the defensive, though. No one is suggesting that Bitcoin is a panacea for all ills. Not now, and not ever. Its a device for accomplishing something else; its not the thing being accomplished. But, man, that thing is amazing to use! Its mind-boggling to consider that we've made it possible for people to transact business without the intervention of a central bank or government.

In the eyes of a critic, there is always something that could be done better. We all know Bitcoin has flaws. True, but what is it? Its not how big the stone is, but the fact that its a decent first step that counts.

Only irrational people think like that, but rational people understand that Bitcoin is a digital currency that provides convenience in transactions and because trading is large enough it provides other advantages because the price fluctuates so buying and keeping it for the long term will get you profit from rising prices, but Bitcoin is not the solution to all the problems that are happening in this world, especially for finance, but Bitcoin is a good alternative in digital currency as a means of payment, and that investing in Bitcoin is always realistic.

I use bitcoin because I want to have my own bank and I have to secure my private key and its back up. If I lose my private key, my backup, I lose my bitcoin and I know this risk.

Usability of backups is always important as if your backups are all unusable, they are useless.

Fake news are everywhere and not only in cryptocurrency market.

I rarely read news nowadays about cryptocurrency nowadays because after few years in this market, I know news are mostly faked and fud. I don't need to read them to make my psychology worse and shake out my hands with panic sell.

I guess you're one of the few who aren't that tied to things that involve money. Having a backup plan in case things don't work out is always a go-to way to ensure that you won't be losing much if things gets worse. You can't really blame people spreading misinformation nowadays, the mainstream media which is backed by billions of dollars spread them the most, you needn't to worry about the spread, what we should focus more is having more people that are informed and can think for themselves therefore evaluating what they read online making things much difficult for misinformation spreader to disseminate their lies because more people are thinking critically.

I also invest in bitcoin, but I cannot live under the same illusion as them . I like to see things realistically and always have backup plans because the more value something creates, the greater the risk. Furthermore, in my opinion, spreading misinformation about bitcoin won't make it any better, and it will sometimes backfire on bitcoin's reputation. No one can stop them from exaggerating about bitcoin, but if they really love bitcoin, then they shouldn't spread that misinformation.

Indeed. Everyone must think realistically about the potential of Bitcoin. I never trust anyone who state that Bitcoin will be the main world currency, I think it is impossible. But when people state the price of Bitcoin can be above $100k, I can believe it since we can analyze the price history through the chart patterns. From the matters, I believe we can understand which one is overly optimistic and realistic expectation.

Of course, the government has their own perspective. But if we consider the development of Bitcoin adoption on the countries around the world, we can see a positive progress on it. Although Bitcoin can be fully accepted, most governments allow their citizen to use Bitcoin as a digital asset now. While for accepting Bitcoin as a legal currency, it seems a bit difficult because it will bring too much impact on the country. However, I assume we are getting closer for the massive Bitcoin adoption around the world.

Bitcoin offers many advantages to its users. As time progresses and the area of use increases, many people around the world will benefit from these positive contributions. However, this does not mean that bitcoin will solve all problems. But if it even solves a problem, it's better than solving no problem at all.

We should always be realistic, but dreams sometimes contribute to the formation of reality. Therefore, the potential of bitcoin was previously dreamed and is now being realized.

So, based on a realistic infrastructure, let's try to achieve good things for bitcoin's progress.

some people are being exaggerated on what bitcoin will do to humanity. but we need to be realistic, that is right. be grateful that the scope of its market is continuously expanding. more and more people are trying to participate in this market, either for short-term gain or long-term.
and be happy that this is being used as payment method, remittance, investment asset and others. however, only few of these coins will survive long as most are created for the hype and pocket of the devs.

I like that this topic is meant to distinguish between Optimism and Realism because I have read topics too on this forum and listened to some other people not on the forum about how bitcoin will solve all the problems of the world, which is big misconception. The realistic approach and mindset to bitcoin will keep you bent on what is possible with bitcoins and what will not. Bitcoin will offer a solution to trade without borders, promote non dependence on banks and government system, but it will not automatically solve all the problems of the world.

The thread you are referring to was just a copy-and-paste information that the OP took from Twitter. He made no input and made the post very difficult to comprehend. The work came up with a template that nations should follow to enable Bitcoin to solve all their economic woes. All these predictions might either come from the imagination of some overzealous individuals to gain attention. I am not underestimating the potential of Bitcoin to contribute positively to the economy of nations, but it is limited by other factors.


Recently there has been a clamor to de-dollarize the global economy. There are also indications that some groups of nations are strategizing to float a currency that will compete with the dollar. The world is gradually desiring to have a decentralized currency that will not make a single or a group of nations have control over the payment systems of the world. The world is moving toward an era where a single currency printed or controlled by a country will be rejected for a a de-nationalized currency.


Bitcoin will not make poor countries rich. It will not also solve all the economic problems of the world. Poor nations will always be poor if they don't do what rich countries do. It is just a currency that will help nations to bypass the manipulative influence of greedy middlemen. It will help nations to have the privilege of carrying out international trade without restrictions. Nations can invade sanctions placed on them using a decentralized currency like Bitcoin.

I understand what you're aiming for on this topic and I really appreciate it but what you're saying reminds me of people who said bitcoin would never touch $50k for a lot of very plausible reasons but the truth is bitcoin is touching over $50k+ and it really doesn't make sense.
until whenever I will always say the future is a mystery and cannot be explained by logic, you are not a psychic or someone who comes from the future, so any opinion about bitcoin in the future can still be accepted and tolerated, don't immediately think skeptically of people's opinions another about bitcoin in the future.

Bitcoin also gave us a hard asset increasing its status as both a currency and an investment, as even if gold is a hard currency too we do not really have a precise idea of how much gold could still be mined, especially the gold that is under the sea, however with bitcoin we know exactly how many coins will be mined and when, and when we compare bitcoin to fiat on this regard the differences are massive, and it increases the chances bitcoin will succeed in gaining billions of users at some point in the distant future.

Bitcoin is never going to become the world's currency. Even if that was possible, governments wouldn't allow it for a variety of reasons that have been previously discussed at the forum. I'm generally against such bold statements, especially those that concern the extremely distant future, like the OP is mentioning, the years 2048 and 2109 respectively. Even the so-called prediction is so far off, with a range of over 50 years inbetween. Bitcoin isn't capable of solving worldwide issues, it doesn't grow on trees, you cannot create it from scratch, unless you're mining it, which requires expensive equipment and expertise that the average person doesn't have. Thus, it's unlikely, not to mention impossible, that an asset like Bitcoin can solve worldwide issues such as poverty, hunger, or the financial crisis.

Bitcoin was created for one main reason, to serve as an alternative system to a badly run traditional financial system, especially when it (the traditional financial system) starts to crumble.
It will be an alternative system for preserving lives and values from an upcoming global choas and tyranny.

Systems built on solid foundation are expected to survive the global catastrophy. Ofcourse, we expect those on weak foundation to crumble & probably be rebuilt. The strong or antifragile ones will continue to stand