Understanding Bitcoin's Potential Realistically

DanWalker

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Quote from: justdimin on July 15, 2023, 01:50:55 AM

Quote from: DanWalker on July 14, 2023, 03:27:18 AM

Satoshi created bitcoin with the aim of making it a peer-to-peer currency that cannot be controlled by the government, he did not mention that bitcoin would become the solution to all problems in the world. But ironically, so many people who aren't its father are propagating it as a god who came to save our world from trouble.

To me, bitcoin is just money, a tool to help me earn money so that I can have a better life, other than that, it is nothing else in this world. When I say this, it will probably make many people unhappy, but other than using it for profit, I don't see any additional benefit to my life. We have more important things to care about, not just bitcoin.

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.

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.

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Quote from: Ultegra134 on July 14, 2023, 12:54:55 PM

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.

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.

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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.

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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.

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Quote from: Bananington on July 14, 2023, 02:35:07 PM

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

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.

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.

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Quote from: DanWalker on July 14, 2023, 03:27:18 AM

Satoshi created bitcoin with the aim of making it a peer-to-peer currency that cannot be controlled by the government, he did not mention that bitcoin would become the solution to all problems in the world. But ironically, so many people who aren't its father are propagating it as a god who came to save our world from trouble.

To me, bitcoin is just money, a tool to help me earn money so that I can have a better life, other than that, it is nothing else in this world. When I say this, it will probably make many people unhappy, but other than using it for profit, I don't see any additional benefit to my life. We have more important things to care about, not just bitcoin.

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.

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Quote from: Strongkored on July 14, 2023, 10:52:22 PM

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

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.

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.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

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.

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Quote from: Latviand on July 14, 2023, 09:59:19 PM

I guess you're one of the few who aren't that tied to things that involve money.

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.

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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.

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

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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.

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.

Latviand

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Quote from: Iranus on July 14, 2023, 09:39:02 PM

Quote from: Latviand on July 14, 2023, 05:46:01 AM

~

I also invest in bitcoin, but I cannot live under the same illusion as them Cheesy

. 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.

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.

Iranus

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Quote from: Latviand on July 14, 2023, 05:46:01 AM

Quote from: Iranus on July 13, 2023, 10:41:51 PM

I agree with your point, bitcoin is bringing a lot of innovation in the financial world, but that doesn't mean bitcoin will become a panacea for our world. It's ridiculous how many people are so crazy about bitcoin that they see it as a savior that can alleviate poverty and improve the world economy, bitcoin will solve all problems for the world if we accept it Globally...They don't look at the ongoing reality that bitcoin is only seen as a tool for speculation. And for it to become a global payment method will also take much time, even more unlikely, let alone bigger things. We should be realistic and set goals for each stage instead of living in illusions, it will not make us better.

The reason for them being so hyped and overly optimistic about Bitcoin and what it can do is because they are invested in it, they've put money into bitcoin and they know that being optimistic and saying something positive about bitcoin helps in raising it's value, they don't look in the reality because it's the truth and the truth hurts so they live in this delusion that bitcoin is the cure all solution for all the worldly problems out there. If I'm being honest, there's already a solution existing since the Industrial revolution, the ruling class just don't want to do it because it destroys their control over the people that they govern.

I also invest in bitcoin, but I cannot live under the same illusion as them Cheesy

. 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.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

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.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

We must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.

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.

eightdots

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Quote from: AmoreJaz on July 14, 2023, 05:57:50 PM

Quote from: Bananington on July 14, 2023, 02:35:07 PM

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

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.

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.

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.

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Quote from: Bananington on July 14, 2023, 02:35:07 PM

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

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.

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.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

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.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

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.

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recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

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.

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While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

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.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

...
we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

(This is just my on view)

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.

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Quote from: The Cryptovator on July 13, 2023, 03:09:56 PM

Avoid excessive excitement. Bitcoin cannot solve all the financial problems in the world, as it was not originally created for that purpose. Its initial aim was to address the issue of money transfers, enabling peer-to-peer transactions without the need for intermediaries. However, we have also discovered that we can benefit from Bitcoin's volatility, leading it to become an investment asset, despite not being its original intention. The truth is that Bitcoin has provided us with more than what we initially anticipated.

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.

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Quote from: Oasisman on July 13, 2023, 09:00:59 PM

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

Exactly!
Some "bitcoin enthusiast" as they call themselves that, tend to make such excessive statement about bitcoin being a currency to solve every problem in the world. Well, I don't really call them a bitcoin enthusiast, they're more of a person who wants to get rich real quick by excessively disseminating information about bitcoin as the global hero all over the internet. I'm not even sure how did they come up with such realization when bitcoin was created by Satoshi for us to get freedom form third party money processors, thus we can have a borderless transactions. I don't understand how it could solve poverty, hunger, and even war. That's just some ridiculous thoughts.

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.

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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

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.

It won't. In fact, Bitcoin perpetuates inequality, same as any other currency. The whole premise of the blockchain gives the people with the most resources the ability to make more money and that by itself already makes Bitcoin a currency like any other. Those are societal problems and they cannot be solved using a new medium of exchange. Governments will never embrace Bitcoin as their sole currency, Bitcoin isn't backed by anything and is far too prone to market manipulation among other things.

The fact that it doesn't give the government the ability to enact economic policies nor impose capital control already makes it an inferior currency to them.

mvdheuvel1983

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Sometimes I tend to sit back and either watch or read articles that paints Bitcoin as the messiah of all currency and economies. Some of these articles or videos are so delusional that the picture they of a Utopian world where Bitcoin unites the world blah blah blah is so laughable that I can almost imagine Satoshi Nakamoto rolling on his bed while reading them.

First, there can't be a Utopian society. If there is the world would fall out of balance. Second, no matter how much the human race tries, there would always be famine, hunger, sicknessess and many more that's how the world is. It can't be eradicated. Don't you know that these are big businesses? Lastly, I agree with you on maintaining a realistic view on Bitcoin. Even right now, aside from holding and there is still a limited application of Bitcoin in our present day. I am not say it will remain like this, I am saying that Bitcoin is not going to have it's application or real use cases in all spheres of life.

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The world is gradually growing towards the technology, where digital assets are being implement through our local bank ATM to purchase a goods and services physical in the market, shopping center and any other open center of service. Come to talk about Bitcoin, is a something that is gradually spreading the world and government can't stop crypto as long the internet exist, this is another way to be get Rich while investing now that government and many others company have not been fully involved, soon or later base on the Bitcoin prediction, 1BTC =$100,000 or more, and is going to happen one day and what it needs is to have patience.

ImThour

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

Bitcoin has undoubtedly changed lives and ignited dreams for the future.

It surely did, I can't say for everyone on this forum however for me personally, I have seen a growth in my financial funds, savings over the time period and improved quality of my life.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities.

That's why it's made decentralized and for anyone and everyone. Main motive of creating Bitcoin was to create a magic internet money which works across boundaries and regulations of governments. Bitcoin Lightning is doing that and I am very impressive that the speed of transaction of a payment through Lightning is faster than a VISA Debit Card.

For some countries, Bitcoin can be very beneficial and for their own benefits, they will surely implement a framework around it.

ElmedoRator

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past, present and future have differences but in terms of upside potential is the most obvious thing i see for bitcoin i think people will be able to completely trust with idle assets to invest with bitcoin and over long enough the amount of money earned is really substantial. More and more people are looking to bitcoin as well as crypto for the sake of profit rather than for issues like money transfer, technology, asset guarantee, etc. I'm not sure how the future will change but I believes in the potential for value that bitcoin will increase over time.

lovesmayfamilis

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Quote from: Hatchy on July 13, 2023, 11:48:19 PM

Nigeria and some African governments are not doing a good job when it comes to governance. they are a perfect example of such countries.Nigerians have been striving for a better government for a long time. However elections are no longer fair and free, and it seems like being in politics is treated as a right rather than a responsibility. Interestingly, these governments secretly hold Bitcoin but publicly criticize it. It's unlikely that African governments will accept Bitcoin anytime soon because they are more focused on their own selfish interests.

Your words only confirm the idea that the government does not seek to eradicate poverty at all. The utopian claims that Bitcoin saves the world from evil will continue to sound like this from certain fanatical prophets who make such lengthy predictions for the sake of their PR. Who can be convinced of these predictions for 2109? However, there will always be people who will say that this is what I thought and predicted, no matter what the circumstances. We always need our own sober minds and competent analytics.

m2017

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

Indeed it was, Bicoin!

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

Oh, those predictors. To believe them is to disrespect yourself. From their words, bitcoin are the solution to all the problems of mankind. This is absurd.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

Gold words. How nice to hear them, without those excessive and overestimated expectations that beginners most often set out when they first learned about bitcoin. You are right, need to soberly assess the possibilities of btc.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.[/left]

(This is just my on view)

Of course, not all countries will accept bitcoin. Already now, the developing countries of the third world are the first to move in this direction. I'm not even sure if strong world powers like the USA or England will ever accept bitcoin.

Undoubtedly, the bitcoin adoption process will not be as fast as BTC-enthusiasts expect. And also, most likely, it will be only partial, fragmented, as the Internet is gradually becoming in the world (there are countries, like China, in which there is a separate global network).

Blitzboy

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Critical as I may be, I cant help but find amusement in the grand visions some hold for Bitcoin. The video you shared, I must say, paints quite a utopic picture. A world without poverty, hunger, or war? The envy in me rises, as I wonder, why didn't I think of that first?

I want to remind you, though, that Bitcoin is, at its core, a digital currency. Its not a government, a non-profit, or a magic wand. It cant make decisions, adopt policies, or feed the hungry. Its an amazing technological innovation, yes. It can reduce corruption, increase financial inclusivity, and promote economic freedom, but these effects depend on us - the people, not the coin.

Playfully speaking, your optimism reminds me of the dot-com bubble. Remember how the internet was supposed to solve all our problems? Look where that got us. Being pessimistic, I dare say we might be overestimating Bitcoin's potential. Just like the dot-com bubble, there's bound to be some Schadenfreude when the dreamers face reality.

Plaguedeath

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Quote from: Z390 on July 14, 2023, 05:33:13 AM

Bitcoin can't solve the financial crisis in the world, it changes the lives of those who believe in it's future value, that's the best we can say about Bitcoin, can you keep accumulating when there is max fear in the market? Can you keep doing this for a few years straight without looking back?

It always funny when there's someone say Bitcoin can solve the financial crisis in this world because if Bitcoin is shared to every human in this world, the price would be very cheap or even worthless as everyone have it. The reason why currency has a value because it's limited, not everyone have it.

If @OP is really want to solve the financial crisis, he should have donate all of his assets to poor people and not save it to make him rich.

Latviand

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Quote from: Iranus on July 13, 2023, 10:41:51 PM

I agree with your point, bitcoin is bringing a lot of innovation in the financial world, but that doesn't mean bitcoin will become a panacea for our world. It's ridiculous how many people are so crazy about bitcoin that they see it as a savior that can alleviate poverty and improve the world economy, bitcoin will solve all problems for the world if we accept it Globally...They don't look at the ongoing reality that bitcoin is only seen as a tool for speculation. And for it to become a global payment method will also take much time, even more unlikely, let alone bigger things. We should be realistic and set goals for each stage instead of living in illusions, it will not make us better.

The reason for them being so hyped and overly optimistic about Bitcoin and what it can do is because they are invested in it, they've put money into bitcoin and they know that being optimistic and saying something positive about bitcoin helps in raising it's value, they don't look in the reality because it's the truth and the truth hurts so they live in this delusion that bitcoin is the cure all solution for all the worldly problems out there. If I'm being honest, there's already a solution existing since the Industrial revolution, the ruling class just don't want to do it because it destroys their control over the people that they govern.

Z390

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Bitcoin can't solve the financial crisis in the world, it changes the lives of those who believe in it's future value, that's the best we can say about Bitcoin, can you keep accumulating when there is max fear in the market? Can you keep doing this for a few years straight without looking back?

Bitcoin can change lives, we know that, but it's not a short cut to freedom we seek, it's not different from investing on stocks and real estates, they take years of investment to become something good, and unfortunately, millions of people around the world are not ready for this, some get off in the halfway, some get tired, some lose hope, some lacks the will.

So Bitcoin can't solve everyone's financial problem, but it's possible, only if you are willing to put in the extra effort it requires.

DanWalker

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Quote from: Darker45 on July 13, 2023, 09:48:54 PM

The reality is that Bitcoin isn't the only thing that counts. Even if Bitcoin becomes the only legal tender in every country in the whole world, I can say with 100% certainty that there will still be poverty and wars and all kinds of evil. Even if all fiat currencies are gone and Bitcoin becomes the global reserve currency and even the only currency the world knows, I'm 100% sure that inequality and discrimination and hatred and greed remain.

Some Bitcoin supporters speak of Bitcoin as if it's something that controls human conduct and character. Far from it. Bitcoin is simply a tool, a tool for everybody; pedophiles, environmentalists, restaurant owners, human rights advocates, artists, meth dealers, and so on.

Satoshi created bitcoin with the aim of making it a peer-to-peer currency that cannot be controlled by the government, he did not mention that bitcoin would become the solution to all problems in the world. But ironically, so many people who aren't its father are propagating it as a god who came to save our world from trouble.

To me, bitcoin is just money, a tool to help me earn money so that I can have a better life, other than that, it is nothing else in this world. When I say this, it will probably make many people unhappy, but other than using it for profit, I don't see any additional benefit to my life. We have more important things to care about, not just bitcoin.

Out of PATIENCE

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Quote from: Z-tight on July 13, 2023, 05:57:02 PM

I don't believe in conspiracy theories, but if we agree with you that the world is on the brink of world war 3, who is going to care about BTC then, there will be other things on your priority list, like staying alive and getting food to eat, you'll want to have only fiat then because nobody is going to be exchanging their fiat for your BTC's, so you can't even spend it. So we better do something to stop that war if it is truly coming, to save ourselves and not BTC. Shocked

If you are only holding fiat in a situation like this, you'll be having a tough time. Precious metals?

It's not a conspiracy that ww3 is on the brink of happening:
https://www.bu.edu/articles/2022/how-close-are-we-to-world-war-iii/
https://www.washingtonpost.com/politics/2022/03/17/why-biden-white-house-keep-talking-about-world-war-iii/
https://www.businessinsider.com/conflicts-that-could-turn-into-world-war-iii-during-2023-2023-1

And it hasn't gotten any better -- North Korea fires intercontinental ballistic missile after threatening US

The reason everyone is trying to prevent ww3 from happening and talking about it is because it's close to happening, i.e. on the brink of. Roll Eyes

The conspiracy theory is [essentially] that there are superpowers [intentionally] creating various problems to send us here.

And you don't have to convert your BTC to use it, there are plenty of places that would continue to accept it as payment even with ww3, but BTCs potential would certainly suffer, as things like electricity, internet are targets for these wack job globalists, and yes people will prioritize survival, but BTC should still exist in some capacity.

Flexystar

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I think there are million thoughts to this. If any newly formed currency/asset was able to solve the world's issues then golds and diamonds would have already done that. They were discovered since the ancient time and look where it got us? Nowhere. In fact these are the assets which are now getting collected, and stored for the personal purposes. Like, biggies are converting their millions of dollars in the gold bricks and coins for easy accumulation and possession of the same. I am pretty sure this is what happening with the Bitcoin these days. Every other financial institute has made it some sort of money making business. Brokers started forming, exchangers came in and started offering discounts and promos so that more and more bitcoin can be stored on them which makes them whole lot of money. Do we really think that Bitcoin can overcome the hunger just like that? It's just asset mate, the one who posses it, possesses for the own benefit and profitability over the course of period.

Hatchy

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Quote from: rat03gopoh on July 13, 2023, 11:24:43 PM

Which leader doesn't want shortcuts to their economic problems while they've been thinking hard for years without effective solutions and wont end up bothering them too.

Nigeria and some African governments are not doing a good job when it comes to governance. they are a perfect example of such countries.Nigerians have been striving for a better government for a long time. However elections are no longer fair and free, and it seems like being in politics is treated as a right rather than a responsibility. Interestingly, these governments secretly hold Bitcoin but publicly criticize it. It's unlikely that African governments will accept Bitcoin anytime soon because they are more focused on their own selfish interests.

rat03gopoh

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.

It has been around the 15th time that bitcoin was created, and it is impossible during that time for a government, especially in developing countries, not to see the potential for eradicating poverty if it exists. Which leader doesn't want shortcuts to their economic problems while they've been thinking hard for years without effective solutions and wont end up bothering them too.

Iranus

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I agree with your point, bitcoin is bringing a lot of innovation in the financial world, but that doesn't mean bitcoin will become a panacea for our world. It's ridiculous how many people are so crazy about bitcoin that they see it as a savior that can alleviate poverty and improve the world economy, bitcoin will solve all problems for the world if we accept it Globally...They don't look at the ongoing reality that bitcoin is only seen as a tool for speculation. And for it to become a global payment method will also take much time, even more unlikely, let alone bigger things. We should be realistic and set goals for each stage instead of living in illusions, it will not make us better.

Baofeng

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Quote from: Darker45 on July 13, 2023, 09:48:54 PM

The reality is that Bitcoin isn't the only thing that counts. Even if Bitcoin becomes the only legal tender in every country in the whole world, I can say with 100% certainty that there will still be poverty and wars and all kinds of evil. Even if all fiat currencies are gone and Bitcoin becomes the global reserve currency and even the only currency the world knows, I'm 100% sure that inequality and discrimination and hatred and greed remain.

Some Bitcoin supporters speak of Bitcoin as if it's something that controls human conduct and character. Far from it. Bitcoin is simply a tool, a tool for everybody; pedophiles, environmentalists, restaurant owners, human rights advocates, artists, meth dealers, and so on.

True, I really don't understand why there are individuals that see Bitcoin as like a magic bean that will erase all humanity's problem, no it's not. It could help alleviate some of them but still there are a lot of problems that no one can solved.

Not even those who's the riches people alive, even if they used all their money, it won't put a dent on the world problem. So we are just lucky to have bitcoin to be here, so it's up to us how to take advantage of it. If we wanted financial freedom so be it.

Darker45

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The reality is that Bitcoin isn't the only thing that counts. Even if Bitcoin becomes the only legal tender in every country in the whole world, I can say with 100% certainty that there will still be poverty and wars and all kinds of evil. Even if all fiat currencies are gone and Bitcoin becomes the global reserve currency and even the only currency the world knows, I'm 100% sure that inequality and discrimination and hatred and greed remain.

Some Bitcoin supporters speak of Bitcoin as if it's something that controls human conduct and character. Far from it. Bitcoin is simply a tool, a tool for everybody; pedophiles, environmentalists, restaurant owners, human rights advocates, artists, meth dealers, and so on.

Oasisman

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

Exactly!
Some "bitcoin enthusiast" as they call themselves that, tend to make such excessive statement about bitcoin being a currency to solve every problem in the world. Well, I don't really call them a bitcoin enthusiast, they're more of a person who wants to get rich real quick by excessively disseminating information about bitcoin as the global hero all over the internet. I'm not even sure how did they come up with such realization when bitcoin was created by Satoshi for us to get freedom form third party money processors, thus we can have a borderless transactions. I don't understand how it could solve poverty, hunger, and even war. That's just some ridiculous thoughts.

Fivestar4everMVP

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Well, I very much share in the ops point of view, really, in as much as we all be very optimistic and positive in all ramifications concerning bitcoin and what it's future is like or will be..
Lets never forget that, bitcoin has achieved so very much already, considering what the real purpose of its creation was and is, like a user said, lets not get too excited about the future of bitcoin, yeah, we all wanna see it become a dominant and a global currency, simply because when that happens, the value will increase significantly and we get to make more money for ourselves being pioneers of the movement, but again, to avoid disappointments, lets not get too excited.

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Quote from: Out of PATIENCE on July 13, 2023, 05:19:49 PM

Bitcoin has plenty of potential but it does require certain things to continue successfully -- like electricity and the internet. With the world on the brink of ww3, we better do something if we're to have these basic things moving forward. Huh

I don't believe in conspiracy theories, but if we agree with you that the world is on the brink of world war 3, who is going to care about BTC then, there will be other things on your priority list, like staying alive and getting food to eat, you'll want to have only fiat then because nobody is going to be exchanging their fiat for your BTC's, so you can't even spend it. So we better do something to stop that war if it is truly coming, to save ourselves and not BTC. Shocked

hd49728

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Bitcoin is not like a God, a magic stick to change the world, life of everyone or replace everything, every fiat currency on the world. It is helpful but has its strength and weakness so please let's be realistic.

Being excessively optimistic like Bitcoin will replace all fiat currencies, gold to be a world standard, eradicate poverty or being too pessimistic that it will die soon are wrong thinking. It will not die but will not have such a Goddish strength to do everything as you wish or believe.

If you are exscessive optimistic, you will be like a blinded supporter and a gambler to bet all you have in Bitcoin.

Alpha Marine

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

He's delusional, and what's worst is that there are a lot more people like that. Funny enough, he might not believe that himself. He may just be using it to increase the views of his channel. Some that believe this just don't understand what Bitcoin is, they're just following the trend.
I usually don't pay attention to things like that because they're not worth it.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities.

Even if every single in the world accepts Bitcoin as a legal means of payment, it won't still solve the problems he listed above. Bitcoin is a currency. It's laughable to think that Bitcoin will solve war, economic crisis, poverty, and hunger.

Out of PATIENCE

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.

(This is just my on view)

Bitcoin has plenty of potential but it does require certain things to continue successfully -- like electricity and the internet. With the world on the brink of ww3, we better do something if we're to have these basic things moving forward. Huh

serjent05

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Quote

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

The video creator is just exaggerating stuff about Bitcoin. It will never solve poverty, hunger, government and prevent war or economic crisis. If ever a world of utopia is to be created, it will be the people and not Bitcoin because Bitcoin is just a tool and a tool means it is neutral and is dependent on the person who uses it whether it will be good or bad.

In terms of value, as a new emerging industry, we are optimistic that it will have unlimited potential since the world is yet to be saturated and Bitcoin has yet to reach its apex.

famososMuertos

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OP, bitcoin's premises are explicit and that makes them so that everyone who understands them commits to those ideas and develops them in their environment. And the primary reason for this is trust, there is not much complexity in that.

The future of how this develops is community-based, users are the ones who must uphold the premises of Bitcoin, regardless of whether it is acceptable as legal in different parts of the world.

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.

(This is just my on view)

The topic you have mentioned from which you have encouraged to make this thread, that topic was plagiarized and thats why i think, it was locked. I had a conversation on aforementioned topic too you can check for yourself. Well the point of the OP in that topic was difficult to understand but i did understand to some extent only like why adoption of BTC is necassary and how we should approach it. But here in this topic i understood your whole point.

And it's a bitter reality which we have to accept that we might not be there to see the full acceptance and adoption of BTC as we all know the mining of BTC will end near 2140. And we might not be alive at that time (but who know who have the miracles of life).

And you said we should accept the reality and accept how much potential BTC and i think thats what we are doing and thats why we are putting our time and efforts in its adoption even if we might not be able to see the final results. The whole point is, we must remain optimistic not by following someone like you followed or motivated by a YouTuber, instead we should motivate ourself with our own knowledge and interest.

That's what will keep us driven and most of the people are not making its adoption streamline because they wanted to be rich they are doing it because they wants others to become rich too and thats generous.

hatshepsut93

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.

Bitcoin doesn't need government approval to be used by people, it can even be used if they ban it, because they can't stop the network. So the theoretical maximum potential is limitless, all people in the world can adopt Bitcoin.

But you need to look at it from the perspective of an average person. And average person in this world lives from paycheck to paycheck and at best has a few hundred $$ in savings for an emergency. What would they win from switching to Bitcoin? They will just be exposed to volatility, which is quite stressful and risky. They will also need to become cybersecurity experts, because if Bitcoin is stolen from their wallet, it can not be returned.

It's just a lot of extra effort and risks with no benefits. They don't need financial freedom, because average people don't have their bank accounts frozen for no good reason, like bitcoiners tend to believe. Inflation also doesn't affect them as much if they don't store their wealth in cash.

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Recently, I just had some re-thinking, and I have mentioned somewhere that Bitcoin should not be forced on people to use it, although we can gladly try to tell someone about it. When they don't have that interest, you should not bother them. If most of them see that Bitcoin will keep advancing and with the price growth, even those who thought it was not something they should invest in will on their own learn about Bitcoin technology.

I believe you see some of those newbies that come here to say that they were so sceptical about Bitcoin some years ago, but due to the great dominance of Bitcoin, they are now beginning to regret why they never invested some years back. That's always how it will be with some people in the future. I wouldn't say that I am an exception; there was a time when I was so sceptical cryptocurrency generally, but when the time came for me to learn, I was even the one looking for a real Bitcoiner to lecture me.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

Only a handful of us have been here from the beginning and the rest of us joined along the way, but we have witnessed to an extent its transformative powers and with the history charts we can see how the past performance was.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism.

The only point where I allow myself to be unrealistic is in my price expectation. I do not think we can put a cap on how high Bitcoin can rise in the future with how much it has done with the little available to it so far.
When it comes to its impact on the world, on economies, world poverty, it is no magic elixir. The world will not be fixed through Bitcoin but the more than a handful of people who are in it now, and will join later can improve their financial status through it.

- Jay -

panganib999

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.

(This is just my on view)

I share the same view as yours. The fact of the matter is that they are portraying bitcoin as some sort of end-all-be-all solution that I'm positive they think Satoshi Nakamoto's the second coming of Jesus Christ or something. It's laughable at some point but at the same time this is something that people are genuinely believing in, so big yikers on that one. What's funny is that these things come from people of influence in the industry like content creators and vloggers or something. They paint bitcoin and cryptocurrencies on social media as if it's heaven-sent or something either for likes or impressions, but what they fail to realize is that they bait people into thinking that there's no risk involved in crypto when in fact the whole industry eats that stuff for breakfast.

The Cryptovator

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Avoid excessive excitement. Bitcoin cannot solve all the financial problems in the world, as it was not originally created for that purpose. Its initial aim was to address the issue of money transfers, enabling peer-to-peer transactions without the need for intermediaries. However, we have also discovered that we can benefit from Bitcoin's volatility, leading it to become an investment asset, despite not being its original intention. The truth is that Bitcoin has provided us with more than what we initially anticipated.

Doan9269

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Quote from: Hatchy on July 13, 2023, 01:19:40 PM

recently, i came across a video on YouTube where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

You would have make an additional effort in providing the link to that

He's such a bitcoin enthusiast and what the future may turned to in some years to come remain unknown but we all have this assurance as bitcoiners that bitcoin will still remains valuable till then because it has come to stay, talking about being the dominating currency, we will see every possible indications to that any time sooner even as we hope for more adoption of bitcoin as a legal tender this year from more countries.

Quote from: Hatchy on July 13, 2023, 01:19:40 PM

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities.

For now it may not be all the countries but it will soon get to that time where everyone of them will be struggling to make it adoption when they would have been left with no choice.

Hatchy

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I was about to reply to this thread before it was locked by the OP. Our Vision: How to change the world in three simple steps by Bitcoin"

The discussion raised an important issue that I believe many of us can relate to and should consider. As long-term Bitcoin enthusiasts, some of us have been part of this journey since its creation and we have witnessed its transformative power firsthand. Bitcoin has undoubtedly changed lives and ignited dreams for the future.

recently, i came across a video on YouTube https://youtu.be/3Rnqst5qCgA where the creator was very optimistic about Bitcoin saving the world from POVERTY, HUNGER, GOVERNMENT, WAR, ECONOMIC CRISIS creating a UTOPIAN WORLD. he even went as far as predicting the year 2048 and 2109, how Bitcoin would be the only dominating currency in the world.

While we all share a belief in Bitcoin's potential it's crucial to strike a balance between optimism and realism. Placing Bitcoin as a sole savior in solving all the world's problems might not be a practical approach. We should all remember that Bitcoin at its core is a currency meant to serve as a decentralized medium of exchange. We should not bother it with unrealistic expectations.

we must also recognize that not all countries will readily embrace Bitcoin regardless of its undisputed qualities. Governments tend to have different perspectives on Bitcoin and some may be hesitant to change their existing views and regulations. The acceptance of Bitcoin on a global scale will likely be a gradual process spanning several decades to reach its full potential.
Unfortunately many of us may not witness its complete realization and we should remember that while Bitcoin holds remarkable promise and has the potential to shape our future let's approach it with a sense of realism. We can appreciate its transformative power while understanding the challenges it faces on its path to widespread acceptance and maximum impact.

(This is just my on view)

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