Topic: Was Bitcoin project a failure after all ? - page 5. (Read 811 times)
When I first entered Bitcoin space 10 years ago bitcoin was nothing else then it is now. Yes there are many idiots like FTX in the game now, but you had different idits then (BTC-E, MTGOX, etc.). So in my opinion it is a success.
You do know that the paper that satoshi wrote it stated that
That's already been done, and that objective was obtained years ago. How is that a failure?
Quote from: www.bitcoin.org
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
That's already been done, and that objective was obtained years ago. How is that a failure?
If you used that quote then we can say that has not be achieved because most transactions with bitcoin make use of a third party in form of escrows. It is often not a direct transaction. It is only in few cases that trades go on without escrows and that will be with someone they have transacted with before. New transactions demand escrows.
Rotund success. Its still working today as intended. You can pay and be paid with Bitcoin, no banks, no exchanges required. 90% of the coins have been already made, so there are no excuses not to use it. Each person decides individually when to use it and how, it is not dictated by neither the State or financial institutions. Its truly a grassroots made money that can't be manipulated on the whim of a few.
All that remains is even more adoption, and that means education of the masses, which only you can do. Remember this: Bitcoin is not an exchange, and its not about exchanging your fiat into it (yes you can do that but) get paid with bitcoin and pay with bitcoin is the real goal.
All that remains is even more adoption, and that means education of the masses, which only you can do. Remember this: Bitcoin is not an exchange, and its not about exchanging your fiat into it (yes you can do that but) get paid with bitcoin and pay with bitcoin is the real goal.
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 ?"
A success of a project or innovation is subjective. It always depends on the parameters you are using while judging it's success or failure. Also it's not essential that an innovative product will always achieve its desired goal using the same path it was initially thought out. It's a very different thing!
Bitcoin is a huge success! Yes probably we are not using it in a way it was intended by Mr. nakamoto, but that doesn't mean it has failed.
How would you even define "failure" for Bitcoin anyway? Afaik Satoshi already made Bitcoin a success when he made it as a p2p system with no 3rd party involved, anything after that is mostly improvements, bug fixes, etc afaik. It didn't have any change to its core idea, which is p2p.
Additionally, what is the "current" situation? Is it about the price? I don't think the price being high or low matters, the system behind would still work (and if you lost your investment due to that, well that's kind of your fault as an investor). If it was the FTX fiasco heck that's far from being related to Bitcoin working as intended. If it was adoption, well, if you were to compare it from the start, pretty sure it's progressed rather well.
Additionally, what is the "current" situation? Is it about the price? I don't think the price being high or low matters, the system behind would still work (and if you lost your investment due to that, well that's kind of your fault as an investor). If it was the FTX fiasco heck that's far from being related to Bitcoin working as intended. If it was adoption, well, if you were to compare it from the start, pretty sure it's progressed rather well.
Maybe that having a recognize fully decentralied peer to peer electronically digital currency such as bitcoin is a well foolproof success of Satoshi. Yes there much a lot of expectation but the goal was indeed done. Maybe developers working on it find it too perfect for much an upgrade with it.
I dont see why bitcoin is a failure in spite of it being adopted to whole world.
I dont see why bitcoin is a failure in spite of it being adopted to whole world.
Now, it seems to have become something quite different from what he originally set out to do, doesn't it ?
Do you maybe want to tell us what you think he originally set out to do, back it up with some quotes, and how it became different than that?And how do you all feel about the current situation, which is far from the "pure" world that he aimed for ?"
I think that in ~13 years Bitcoin achieved way more than anyone (including Satoshi) thought its possible in such a short amount of time. You have to be completely unrealistic and naive to think that in such a short period of time Bitcoin can replace fiat. And even if that never happens (which is unlikely anyway) it will have its use. 
You do know that the paper that satoshi wrote it stated that
That's already been done, and that objective was obtained years ago. How is that a failure?
Quote from: www.bitcoin.org
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
That's already been done, and that objective was obtained years ago. How is that a failure?
It's really been a long run for Bitcoin and there's a high tendency that this technology would be 'here' for more years as our technology advances. But to answer the question if it is a failed project, it depends on your view point. If you view it as a mode of payment, then this technology still is so young because many countries are still not supporting the usage of this currency. But on investors' viewpoint, it is successful for having a 'continuous' growth in its price over years which makes it still a good option as an asset even if its market value is too volatile. As more countries adapt to this technology, we would more likely see growth on how this currency will be acknoledged by more people.
Bitcoin has been one of the most successful open-source p2p projects of all time.
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.
Code:
Bitcoin Core 24.0.1
Bitcoin Core 23.0
Bitcoin Core 22.0
Bitcoin Core 0.21.2
Bitcoin Core 0.21.1
Bitcoin Core 0.21.0
Bitcoin Core 0.20.2
Bitcoin Core 0.20.1
Bitcoin Core 0.20.0
Bitcoin Core 0.19.1
Bitcoin Core 0.19.0.1
Bitcoin Core 0.18.1
Bitcoin Core 0.18.0
Bitcoin Core 0.17.1
Bitcoin Core 0.17.0.1
Bitcoin Core 0.17.0
Bitcoin Core 0.16.3
Bitcoin Core 0.16.2
Bitcoin Core 0.16.1
Bitcoin Core 0.16.0
Bitcoin Core 0.15.2
Bitcoin Core 0.15.1
Bitcoin Core 0.15.0.1
Bitcoin Core 0.15.0
Bitcoin Core 0.14.3
Bitcoin Core 0.14.2
Bitcoin Core 0.14.1
Bitcoin Core 0.14.0
Bitcoin Core 0.13.2
Bitcoin Core 0.13.1
Bitcoin Core 0.13.0
Bitcoin Core 0.12.1
Bitcoin Core 0.12.0
Bitcoin Core 0.11.2
Bitcoin Core 0.11.1
Bitcoin Core 0.11.0
Bitcoin Core 23.0
Bitcoin Core 22.0
Bitcoin Core 0.21.2
Bitcoin Core 0.21.1
Bitcoin Core 0.21.0
Bitcoin Core 0.20.2
Bitcoin Core 0.20.1
Bitcoin Core 0.20.0
Bitcoin Core 0.19.1
Bitcoin Core 0.19.0.1
Bitcoin Core 0.18.1
Bitcoin Core 0.18.0
Bitcoin Core 0.17.1
Bitcoin Core 0.17.0.1
Bitcoin Core 0.17.0
Bitcoin Core 0.16.3
Bitcoin Core 0.16.2
Bitcoin Core 0.16.1
Bitcoin Core 0.16.0
Bitcoin Core 0.15.2
Bitcoin Core 0.15.1
Bitcoin Core 0.15.0.1
Bitcoin Core 0.15.0
Bitcoin Core 0.14.3
Bitcoin Core 0.14.2
Bitcoin Core 0.14.1
Bitcoin Core 0.14.0
Bitcoin Core 0.13.2
Bitcoin Core 0.13.1
Bitcoin Core 0.13.0
Bitcoin Core 0.12.1
Bitcoin Core 0.12.0
Bitcoin Core 0.11.2
Bitcoin Core 0.11.1
Bitcoin Core 0.11.0
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.
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? 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 ?"
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.
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 ?"
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