Unfortunately for most people.... Bitcoin is seen as a store of value.... and they hoard it. They also speculate with the high price volatility and use it as a commodity. (which is fair.... but our focus should be to make it a reserve currency)
Topic: Was Bitcoin project a failure after all ? - page 3. (Read 811 times)
Well, Satoshi Nakamoto (let's refer to him as a man for this discussion) ... wanted Bitcoin to be an alternative currency... and he succeeded with that in many ways. A lot of countries have officially accepted Bitcoin as a payment option or legal tender ....and in the countries where it is defined as a commodity.... people can still use it as a medium of transfer for their wealth.
Unfortunately for most people.... Bitcoin is seen as a store of value.... and they hoard it. They also speculate with the high price volatility and use it as a commodity. (which is fair.... but our focus should be to make it a reserve currency)
Unfortunately for most people.... Bitcoin is seen as a store of value.... and they hoard it. They also speculate with the high price volatility and use it as a commodity. (which is fair.... but our focus should be to make it a reserve currency)
Year 2009, bitcoin was released and implemented as an open source software thus beginning the slow and gradual global adoption and use of bitcoin. Then, the number of bitcoin holders and users were but a handful and people really didn’t know what bitcoin was.
Year 2022; bitcoin is thriving as Earthlings have now been enlightened. People are scrambling to acquire and hold knowing it’s like a flower waiting to blossom. Negative predictions have been predicted and propaganda spread over the years all the while hoping for bitcoin demise. “Experts” have predicted the death of bitcoin over and over but bitcoin keeps getting stronger.
So, no. Bitcoin has not failed after all. Like all good things, it only takes time.
Year 2022; bitcoin is thriving as Earthlings have now been enlightened. People are scrambling to acquire and hold knowing it’s like a flower waiting to blossom. Negative predictions have been predicted and propaganda spread over the years all the while hoping for bitcoin demise. “Experts” have predicted the death of bitcoin over and over but bitcoin keeps getting stronger.
So, no. Bitcoin has not failed after all. Like all good things, it only takes time.
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.
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.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 ?"
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.
It is difficult to say how the creator(s) of Bitcoin, if still active, may feel about the current state of the crypto industry. However, it is clear that the industry has evolved significantly since the early days of Bitcoin, and it will likely continue to evolve in the future as new technologies and innovations are developed.
So no, It is not a failure. It will keep evolving.
So no, It is not a failure. It will keep evolving.
Since I started being introduced to Bitcoin last 2017, nothing changed. Bitcoin is always a Bitcoin no matter what. I think why people noticed Bitcoin being a failure or why they are telling it, it for sure because of the price fo Bitcoin or even because they lost some money investing in Bitcoin.
They don't appreciate what Bitcoin is.
They don't appreciate what Bitcoin is.
Nothing has changed as bitcoin is and would always still be bitcoin. Bitcoin has seen a considerable growth, in the slow but gradual adoption globally, to the increase in its worth and price over the years. I personally don’t think the price of bitcoin at any time(high or low) makes it a failure. The price of bitcoin, in my opinion can’t be considered a failure as the price has considerably risen over the years.
Bitcoin hasn’t failed as it’s still thriving and only getting better as more people adopt and utilize its functions.
A little worried about the future of bitcoin!!
Don't worry, it will only become more and more popular in the future.
Although I only joined late in 2017, but I don't want to believe that Bitcoin is a failure, considering what has been achieved since 2010.
Truth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.
People who does not or who did not come into Bitcoin in 2017 will be the people that to get afraid of Bitcoin because of it falling massively is here so in 2017 bitcoin rise and also fall so that is giving me the hope and the strength that bitcoin will recover even though it for to the endpoint so one day it will still rise and increase above the point that people expectedTruth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.
It wasn't only because of fear that made a lot of people not to invest in Bitcoin other factor contributed to it. For example; lack of knowledge or misconception is one of the major reasons why many if those who heard about Bitcoin early didn't invest in it, like for me I had the idea that only those with millions of dollars can invest in Bitcoin because I viewed it as a project for the rich only, you can imagine if several other people had same ideology as me that would have discouraged them from investing in it.
And even some late adopters are still facing issue of misconception most of them ventured into Bitcoin because they believe it's something that they can use to get rich in a short period of time and when it fails to go according to how the had anticipated it to go they start creating FUD.
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 ?"
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 ?"
I prefer the current state of Bitcoin to its early state. In the past 12 years there have been series of development and that has been to improve Bitcoin and you can see that has time passes more and more country are adopting Bitcoin into their system and that was what Satoshi hoped for.
So I'll say Bitcoin is not a failed project.
Since I started being introduced to Bitcoin last 2017, nothing changed. Bitcoin is always a Bitcoin no matter what. I think why people noticed Bitcoin being a failure or why they are telling it, it for sure because of the price fo Bitcoin or even because they lost some money investing in Bitcoin.
They don't appreciate what Bitcoin is.
This reasoning does not represent the truth about Bitcoin's journey, we have seen bitcoin investing and even as a promising asset store, so the fail category does not live up to the standards that are spoken of.They don't appreciate what Bitcoin is.
Losing money in investments, the risks they get when investing and market chaos to massive bitcoin corrections, this can never disappear at any time, that's why bitcoin is considered to fluctuate and have risks in investing. But that doesn't mean that bitcoin has failed in its journey to date, if people are able to understand the concept of investing in bitcoin, then failure in investing will not occur.
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And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"
It is the first time that I hear that Satoshi Nakamoto invented his version of a decentralized peer-to-peer payment system to change the world or, at least, make it more "pure." If it was his primary goal, then his plan failed miserably - he was childishly naive since it has never been possible to change the established state of affairs in just one year or even a decade. I thought he strived to provide people with a reliable alternative to what they already had for years: then and now people have faced a poor implementation of the monetary system that has been susceptible to various unexpected crashes and undesirable human interventions that introduce even more bugs and undesirable behavior. Satoshi has succeeded in presenting such an option because people can now make unstoppable payments without relying on unelected bureaucrats and undesirable intermediaries making money off poor people and stealing their time through uncontrolled money debasement. And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"
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.
Since I started being introduced to Bitcoin last 2017, nothing changed. Bitcoin is always a Bitcoin no matter what. I think why people noticed Bitcoin being a failure or why they are telling it, it for sure because of the price fo Bitcoin or even because they lost some money investing in Bitcoin.
They don't appreciate what Bitcoin is.
They don't appreciate what Bitcoin is.
the answer is the bitcoin project did not fail. because if you look at the price from the past around 12 years ago bitcoin was very cheap, even the price of bitcoin at that time was less than 1 dollar, and when compared to the price of bitcoin now, of course it was very much different, meaning that this shows that the bitcoin project did not fail.
in fact the bitcoin project can be said to be very successful. especially if you look at the price of bitcoin the year old 2021, which at that time could touch the range of 60,000 dollars. and it's so amazing.
in fact the bitcoin project can be said to be very successful. especially if you look at the price of bitcoin the year old 2021, which at that time could touch the range of 60,000 dollars. and it's so amazing.
It has not failed and I'm not worried about its future.
So far bitcoin has proven to work and this is the important part.
It was supposed to be safe, not vulnerable to hacks and it is.
It was made to allow us to send money instantly to another part of the world and it does it. After many millions of transactions we know that it's reliable and the money won't disappear or be stolen in the process.
If it's not accepted by as many merchants as we'd like it's not the problem of bitcoin. When you choose to keep your money in USD or EUR not bitcoin it's not bitcoin's fault.
When you keep bitcoin on exchanges and it gets stolen bitcoin is not to blame. When someone uses it to bribe or extort others or to launder money it has nothing to do with bitcoin and its purpose.
Bitcoin is a tool. You don't blame the knife for killing someone and you don't blame a car for hitting a pedestrian.
So far bitcoin has proven to work and this is the important part.
It was supposed to be safe, not vulnerable to hacks and it is.
It was made to allow us to send money instantly to another part of the world and it does it. After many millions of transactions we know that it's reliable and the money won't disappear or be stolen in the process.
If it's not accepted by as many merchants as we'd like it's not the problem of bitcoin. When you choose to keep your money in USD or EUR not bitcoin it's not bitcoin's fault.
When you keep bitcoin on exchanges and it gets stolen bitcoin is not to blame. When someone uses it to bribe or extort others or to launder money it has nothing to do with bitcoin and its purpose.
Bitcoin is a tool. You don't blame the knife for killing someone and you don't blame a car for hitting a pedestrian.
@OP I don't know what is your understanding of the whitepaper of Bitcoin but as far as I understand what is written on the abstract of the white paper, its function as a p2p electronic transfer without the need to trust the financial institution is still in effect today. There may be centralized exchanges that take advantage of Bitcoin trades but the vision of Bitcoin being frictionless, borderless cheaper transfers is still intact. Bitcoin is successful in maintaining those features.
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 ?"
For bitcoin enthusiasts, of course it’s a clear successful project that has been paving its way to more great achievement in the future. But for bitcoin opposition, they will never see bitcoin as a potential project so most probably it won’t be successful enough for them. I guess the ability how to rate a project is based on individual’s set of standards, the way people see if there are great potentials or not. 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 ?"
We will not still be having discussions about bitcoins if the project has failed. For the fact that the existence of this forum remains, bitcoin has not failed.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
we can agree that the scope of usage of bitcoins from satoshi back then was limited, the project is both serving the function it was started and also developed other extensive benefits. Wherever Satoshi is, he will not think his project as a failure, but be very proud about the achievements. 
Since you are talking about the software and not the market capitalization, then let's take a look to that side of the Crypto. Here is the list of the Releases:
It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.
For technical side of things then this would really be a good show up on how far it was developed and op should really be realizing this one and consider rather than on seeing or checking on capitalization alone.It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.
If it was a failed project then we wont really be seeing that it would really be having a value.It wont be sitting #1 in ranking in overall market against with those Altcoins.
It does really serve its purpose or on what Satoshi had envisioned.If op does see this as a failed project then i dont know on what criteria or things does
he/she really wants to see and prove it out that he/she was wrong.
Since you are talking about the software and not the market capitalization, then let's take a look to that side of the Crypto. Here is the list of the Releases:
It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.
For technical side of things then this would really be a good show up on how far it was developed and op should really be realizing this one and consider rather than on seeing or checking on capitalization alone.It started as a 1 man's Job and then a lot of people get involved without getting payment, just for their love of the code, and right now there is version 24, so, I don't see any failure here, for me this project is a full success.
If it was a failed project then we wont really be seeing that it would really be having a value.It wont be sitting #1 in ranking in overall market against with those Altcoins.
It does really serve its purpose or on what Satoshi had envisioned.If op does see this as a failed project then i dont know on what criteria or things does
he/she really wants to see and prove it out that he/she was wrong.
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 not filed after satoshi created bitcoin and disappear so what I'm trying to analyse from my own understanding of Bitcoin is that this guy still have a long way because it is a technology that deals with the development that it is built with it we'll have a long way if I'm not fair except it have a computer or someone create something that is applicable with bitcoin from my own understanding 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 ?"
Although I only joined late in 2017, but I don't want to believe that Bitcoin is a failure, considering what has been achieved since 2010.
Truth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.
People who does not or who did not come into Bitcoin in 2017 will be the people that to get afraid of Bitcoin because of it falling massively is here so in 2017 bitcoin rise and also fall so that is giving me the hope and the strength that bitcoin will recover even though it for to the endpoint so one day it will still rise and increase above the point that people expected Truth is that a lot of fraud has being perpetuated and this has probably discouraged a lot of potential investors, but the evolving technology must be appreciated.
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