Was Bitcoin project a failure after all ? - page 2.

Blawpaw

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Well... Im struggling to understand why you say Bitcoin is a failure. Ok, so today, Botcoin development has part itself from what Satoshi has intended, buy this happened becuase it simply had to happen. In 13 years, Bitcoin has gained traction and its price went far beyond what many expeted to see before 2030. It is still decentralized and its price skyrocket comparing to its price 10 years ago. It still fulfills ots purpose of giving financial freedom to the world, so why the hell would you say it is a failure?

QueenVera

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

From what I have read, Satoshi wanted Bitcoin to develop to be a currency but because of the positive features Bitcoin has, like it having limited supply and back by mathematics, it was inevitable that Bitcoin will be a store of value more than a means of exchange. I wouldn't say Bitcoin has left its initial focus because we can see the community fighting for adoption daily.
Bitcoin could only use its benefit as a store of value to get attention and as that has been successful it can now try to get the world to start using it as a means of exchange.
Bitcoin is still very young and has a lot of years ahead to achieve all the initial ideology set by Satoshi, we just have to take it one step at a time and not try to force anything or we'll lose everything.

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I can't tell you that bitcoin could rise much more, but given its current price and popularity, I can assure you it's not a failed project. Failure is when the price of bitcoin goes to zero, when people no longer need and use bitcoin, that is called failure. Because a slight drop and we consider it a failure, that is not true, no asset can increase in value forever, even gold has volatility but their volatility is negligible.

CryptSafe

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If bitcoin was a failure do you think this platform would have been existing? Maybe we all would not have been here. We would not have had this opportunity to meet each other here. There would not have been anything called blockchain by now if bitcoin really failed because to the best of my knowledge, bitcoin was the first blockchain Genesis.
The steady increase in price indicates the growth. The increase in Adoption shows how successful it is. The acceptance as a legal tender shows how precious it is hence tagged as a digital gold. Bitcoin is not a failure and can never be a failure. Maybe you have failed on your path thinking it would fail but you forgot it already created a niche for itself and therefore, remains the freedom of the unbaked.

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Quote from: gabbie2010 on December 19, 2022, 07:27:20 AM

Quote from: ilovealtcoins on December 12, 2022, 10:11:11 AM

Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Twelve years ago, each bitcoin cost less than 1 dollar, and until now, each bitcoin has cost 17k. How can you doubt and say it is a failure?
If you bought bitcoin for $69k and now your assets are losing 80%, then it's your failure, not bitcoin's failure. If you haven't sold your bitcoin you still have a chance to succeed with bitcoin hold it don't sell till profit.

Within the span of twelve years Bitcoin was created a lot of fortunes particularly for early investors that earned massive profits after selling all or part of their assets infact some of those investors became millionnaires especially those who sold at ATH at $65K this is one of the first success of Bitcoin, Moreso Bitcoin had created thousands of jobs via trading, programming and other lots of Bitcoin related jobs this is another remarkable success of Bitcoin, furthermore a lot of institutions had adopted Bitcoin has alternative payment for goods and services and Bitcoin being used as a store of value is an added advantage.

Not only with early adopter but as well with people who came when the price is at the peak since they can still earn with on by the opportunities what bitcoin industry can offer. There's no discrimination here since as long as you are skilled and can able to provide a quality job to your client or you are skilled as a trader you can earn a lot compare working a 9-5 job. So from this we cannot call bitcoin as a failure since it creates a lot of opportunities.

gabbie2010

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Quote from: ilovealtcoins on December 12, 2022, 10:11:11 AM

Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Twelve years ago, each bitcoin cost less than 1 dollar, and until now, each bitcoin has cost 17k. How can you doubt and say it is a failure?
If you bought bitcoin for $69k and now your assets are losing 80%, then it's your failure, not bitcoin's failure. If you haven't sold your bitcoin you still have a chance to succeed with bitcoin hold it don't sell till profit.

Within the span of twelve years Bitcoin was created a lot of fortunes particularly for early investors that earned massive profits after selling all or part of their assets infact some of those investors became millionnaires especially those who sold at ATH at $65K this is one of the first success of Bitcoin, Moreso Bitcoin had created thousands of jobs via trading, programming and other lots of Bitcoin related jobs this is another remarkable success of Bitcoin, furthermore a lot of institutions had adopted Bitcoin has alternative payment for goods and services and Bitcoin being used as a store of value is an added advantage.

Smartprofit

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Satoshi Nakamoto saw the creation of Bitcoin as the beginning of an evolutionary process.

However, he was not sure that this project would be successful. He wrote that in many years the Bitcoin blockchain will either have many transactions or not a single transaction. Now we see that there are a lot of transactions in the Bitcoin blockchain (some of them are made by us).

Bitcoin is evolving. Its code is constantly being improved.

Alternative cryptocurrencies, DeFi, NFTs, tokens, stablecoins, CBDCs, etc. have appeared. Bitcoin has changed the world!

James_Davi

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No, Bitcoin was not a failure. In fact, it has been quite successful in terms of its original goal of becoming a digital currency that is used for online transactions. However, the recent price volatility has made it less useful as a currency for everyday transactions, and has thus caused some to label it as a failure.

BinarySumo

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If you look at the trajectory of Bitcoin, then it has done fairly well since the last 12 years. In fact, Bitcoin has been quite successful. It has a large community of people who believe in it. And it is certainly not losing ground. Yes, the current situation is tough but increased growth in Bitcoin’s adoption is indicating a bright future . Moreover, what has made it through without any hurdles?

landheer

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Quote from: Asiska02 on December 16, 2022, 03:56:18 PM

Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Bitcoin has been successful since its inception up to the time when Satoshi left online. You must have witnessed the evolution of bitcoin in the 12 years since its founder went offline. Even though it is volatile, the price has risen dramatically since then. Its security cannot be breached, making it the best decentralized cryptocurrency ever. Even Satoshi will be proud of his innovation today.

yes, it is. bitcoin is a very successful project, because everyone must have seen the achievements achieved by bitcoin. Moreover, judging from the price of bitcoin in 2009, of course, it is very cheap, because the price is around 1 dollar. when compared with Now, the price is very far away since bitcoin was published in 2009, so bitcoin is a successful project.

Asiska02

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

Bitcoin has been successful since its inception up to the time when Satoshi left online. You must have witnessed the evolution of bitcoin in the 12 years since its founder went offline. Even though it is volatile, the price has risen dramatically since then. Its security cannot be breached, making it the best decentralized cryptocurrency ever. Even Satoshi will be proud of his innovation today.

Iranus

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Quote from: EarnOnVictor on December 14, 2022, 03:00:57 AM

Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

As for me, the disappearance of Satoshi Nakatomo was a good development, who knows what could have meted to him if he was still a public man? And Yes, it's been 12 years already, yet his disappearance has never affected the project in any way. On the other hand, it helps to prove that Bitcoin is totally decentralized, and this is because the creator gives everyone a sense of belonging without interference.

But I won't agree with him for calling it a "pure" world while he capped the coin at 21 million BTC. With time, it would not be enough for the people adopting it.

I think so too, I really don't know what bitcoin would be like if Satoshi didn't disappear and become known as other founders, he made an excellent decision for both himself and bitcoin.

But I disagree with you saying 21 million bitcoins won't be enough for everyone, we don't need to own the full 1 bitcoin, we also have satoshi. Second, the supply cap will make bitcoin so scarce, and hence its value is higher than all other conventional assets. If bitcoin has a larger or infinite supply then it is no different from fiat.

CryptoHeadlineNews

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

So in what angle do you think Bitcoin has failed from what Satoshi initially meant for it? Is it in terms of adoption, security, price or what actually? Because we were made to understand that the vision of Bitcoin was to create a world where we all have total control over our funds through the help of decentralized Blockchain technology, of which central banks nor government have no control over it. Because Bitcoin has always been the same till date, of which I'm sure wherever Satoshi is today, he will be proud of how far his project has gone so far.

foggyb

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Without a doubt, Bitcoin is immensely popular and enjoys widespread adoption, which seems to be an indicator of growing success. However, this space still struggles to overcome technical challenges and social criticisms. Probably the most important critical view is of its lack of regulation and inherent volatility. Critics argue that makes bitcoin a poor choice for use as a currency, while others point to the numerous hacks and security breaches that have plagued this tech. Another serious negative aspect is the energy-intensive mining process which is oft criticized for its environmental impact. However, bitcoin remains a popular and valuable asset, with many people still believing in its potential to revolutionize the global financial system.

Plaguedeath

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Quote from: digaran on December 12, 2022, 11:11:30 PM

As the digital gold pov it has failed, as a currency for all pov, also a failed project, as a pump and dump pov it's the best one yet.

Bitcoin is never become a pump and dump project lol, Bitcoin marketcap is really high, it's not like shitcoins who have small marketcap and then it can be easily manipulated by the developer.

Satoshi never say Bitcoin is a digital gold, it's only your own or the other people perspective to think Bitcoin is a digital gold. Gold can be controlled by central authority, so it's not same like Bitcoin.

Bitcoin is starting to be success to become currency, since there's few countries already accept Bitcoin as legal tender e.g. El Salvador, Central African Republic etc.

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Quote from: christmas2022 on December 14, 2022, 08:25:02 PM

Thank you all for your valuable opinion !!
I read it all with great interest.

First, it seems that everyone has almost the same impression about the value of Bitcoin itself is going well successfully.
And, I also felt that you have a strong belief in the future of bitcoin as a currency.

I think that Bitcoin has spread worldwide in such a short period of time as a new payment service is because it offers people something original and attractive.

I was a little concerned with all that has been happening with Bitcoin recent days.
But as I read your thoughts, I am so relieved.
However, it can anything happen in the world of finance, so I should always be careful..

Best regards,

Well, no matter how good bitcoin is, there is no guarantee or 100% certainty, so you always have a plan B, don't invest in bitcoin with all your assets or with money you can't lose. Diversifying your portfolio is the right thing to do, not just focusing on a single asset class.

The future of bitcoin is unpredictable, but if you are willing to take the risk for a good return, you can consider buying more bitcoins from now on as their price is very low. You will get huge profits if you buy now and hold until bitcoin recovers.

christmas2022

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Thank you all for your valuable opinion !!
I read it all with great interest.

First, it seems that everyone has almost the same impression about the value of Bitcoin itself is going well successfully.
And, I also felt that you have a strong belief in the future of bitcoin as a currency.

I think that Bitcoin has spread worldwide in such a short period of time as a new payment service is because it offers people something original and attractive.

I was a little concerned with all that has been happening with Bitcoin recent days.
But as I read your thoughts, I am so relieved.
However, it can anything happen in the world of finance, so I should always be careful..

Best regards,

Questat

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

It has been 12 years since Satoshi disappeared on December 12, 2010.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
I want to hear "How did you see the development of Bitcoin at that time ?
And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

well, the development is growing fast but the adoptions have taken slowly. You can't urge people to do that, even you. However, I'd see that this technology is great, and many people are benefiting from this today and in the next generation. Of course, you can never expect a thing to develop and be adopted instantly as it never exist. It really just takes more time in order to fully understand how this works. In fact, Satoshi never mentions any time-frame which is for me, it is still achieved step-by-step.

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Quote from: BALIK on December 14, 2022, 03:06:59 AM

You are right so far, bitcoin has not failed and it will continue to grow over time but none of us are scrambling to buy it, you can buy bitcoins anytime, anywhere, as long as you have an internet connection.

12 years have passed, and from a worthless coin now worth $18k, there is no reason to say bitcoin is failing, even if bitcoin won't be able to rise any further and stabilize at $18k, bitcoin is still a higher value asset than any other asset class. The people calling bitcoin dying or failing are the dumbest people we've ever seen.

I may have exaggerated a bit when I mentioned that people are scrambling to buy bitcoin. Yes, you could very well buy bitcoin anytime, anywhere with an internet connection enabled device.

I think with time, bitcoin would get more valuable as it gets scarce cause people won’t be willing to let go of theirs. So I think people are really buying and holding bitcoin whenever they can. They may not be scrambling yet lol, but they’re buying.

Skeptics and naysayers have been calling for the failure and death of bitcoin over the years and bitcoin keeps growing and getting stronger defeating their predictions and hopes over and over. So yeah, I think they can be pretty dumb.

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Quote from: christmas2022 on December 12, 2022, 10:04:48 AM

And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"

About 12 years ago bitcoin was created to be a p2p currency all over the world and this is what bitcoin was created for and aimed in the first place. However, during all these years bitcoin changed a lot and many different things happened to it one of them was the bitcoin adoption which forced people to pass KYC and send personal information for what they do in the transactions.

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