What is left of Bitcoin as a tool to free the financial world

Desmong

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Everyone is doing what they know how to do. If you think of selling your holdings then go ahead because at this time no one is going to be pampered to keep holding when there are more users than really wants to buy Bitcoin and hold. We don't know when this is going to stop but it seems like the dip is going to go more deeper than what we have seen now and the market may take longer time before it recovers.

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People worry too much about what speculators get up to. Daytraders are often their own worst enemy. It's all panic buy, panic sell. Weak hands by their nature and invariably too easily spooked.

Those who believe in the technology are usually either hodlers or spenders. They are the ones who help maintain what little stability there is with the price. Try keeping the focus on the benefits, privacy/security/etc, which can be obtained by holding or spending. That's the real purpose and we shouldn't lose sight of that just because the speculators steal all the headlines in the media.

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Quote from: hZti on January 01, 2023, 10:48:56 AM

Quote from: davis196 on January 01, 2023, 01:54:07 AM

Most of the posts in this forum are about the Bitcoin price because that's what 99% of the Bitcoiners are interested about.

Well that is the whole issue. Those 99% are not bitcoiners, those are investors. In my oppinion this forum should be used by the other 1 % to try and improve bitcoin as a payment solution as it was intended. Bitcoin is not simply an asset for your portfolio. It is more then that because it has a very useful purpose, but to fulfill it it needs constant improvements.

Without these investors, Bitcoin won't be noticed. Remember in order for a project or purpose to materialize it needs supporters. Even though these investors purpose it so make a profit, they still pour funds into the Bitcoin market making the market of Bitcoin strong and at the same time giving value to the coins where developers and miners can sell their Bitcoin and continue their operation. Bitcoin does not work like magic, in just one sway of a wand and all is good. People who are developing Bitcoin and miners need funds to develop and secure the network.

Btw, if you want to see a discussion on development, you won't find it in the Bitcoin discussion board, there is a dedicated board for that where they talk about development, suggestion, ect.. and there is another board for mining too. I think you need to navigate the forum more so that you can find what you are looking.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".

In my opinion, these two things are related to each other, meaning that Bitcoin cannot be used for its intended purpose unless there is a great relative stability in the price of Bitcoin.
On the other hand, the stability of the Bitcoin price will not happen unless there are large investments and government adoption of Bitcoin around the world.
When the price of Bitcoin stabilizes and government adoption occurs around the world, then Bitcoin can be used to send peer-to-peer online payments.
We may need another decade for that to happen.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

I don't think you are seeing things the right way. The current price of Bitcoin is a great opportunity of the market to grow. It gives space for many newcomers to gain interest and attract even more investors. As for the miners, they have to cover for expenses. I imagine that most individual miners are just selling bitcoin just to cover for expenses and the remaining Bitcoin, they are certainly hoarding. Even though the price is declining, most believe we will still see new highs for the asset Wink

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

People have different perspectives on Bitcoin investment. Some people enjoy the process and put money in for future use because they believe Bitcoin will be adopted globally and accepted as a global means of exchange over time.

While some people call themselves investors because they buy Bitcoin for a short period of time and then sell it when the price rises, I believe those so-called investors are the reason why the price is not yet stable.
Let us hope that 2023 is a better year.

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As the title says, Bitcoin is a tool that gives financial freedom. I don't see how this must correlate with Bitcoin being a great investment opportunity. What I'm saying is that the price can decline (although it's still very high and Bitcoin has always recovered from bear markets so far), but that doesn't change the nature of Bitcoin. It is still a decentralized form of money that anyone can use if they have a device (smartphone, PC) and Internet access. It is still something that can be stored for free in a wallet like Electrum, where you are the sole owner of your coins and nobody can take them away from you (unlike with banks). It's still a currency that doesn't belong to any country, is not issued by any authority, and the price of which is strictly determined by the market.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Bitcoin have no constant rotation since the existence of bitcoin, and one thing is that Bitcoin going down in price is the determination of lack of investors coming in into the market of cryptocurrency, from my perspective i believe that Bitcoin will rise and it can accelerate when the price is of higher investors, the price depreciating is something that we do experience everyday and every time, so the market will determine it's relevant.

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Quote from: vv181 on January 01, 2023, 01:48:08 PM

If we trying to grow bitcoin adoption to the masses, making this forum a specific echo chamber seems won't do anything significant. There exist other platforms that could potentially give more impression about bitcoin since they have a large reach.

While this forum won't have a significant impact on increasing adoption, but IMO, something big starts small. Some users on the forum are starting to consider adopting bitcoin as a means of payment, and will likely support more ongoing adoption efforts due to the growing interest in bitcoin among people.

But of course to reach a wider level of adoption we need to get more support from big businesses which will ultimately affect more adoption among small businesses and other services. It's difficult at the moment, but when the legality of bitcoin as a means of payment is legalized, there can be more and more adoptions.

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Quote from: hZti on January 01, 2023, 10:48:56 AM

Quote from: davis196 on January 01, 2023, 01:54:07 AM

Most of the posts in this forum are about the Bitcoin price because that's what 99% of the Bitcoiners are interested about.

Well that is the whole issue. Those 99% are not bitcoiners, those are investors. In my oppinion this forum should be used by the other 1 % to try and improve bitcoin as a payment solution as it was intended. Bitcoin is not simply an asset for your portfolio. It is more then that because it has a very useful purpose, but to fulfill it it needs constant improvements.

We can't force how people use this forum, and we should not limitate this forum to be made for a specific use case. Bitcoin deep technical discussion sometimes isn't on this forum, those developers are doing nothing wrong to choose more suitable platforms like IRC, mailing list or GitHub. IIRC, some developers once said that they left this forum since the aforementioned platform has a high barrier to entry thus the discussion is more constructive.

If we trying to grow bitcoin adoption to the masses, making this forum a specific echo chamber seems won't do anything significant. There exist other platforms that could potentially give more impression about bitcoin since they have a large reach.

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Honestly, it's a difficult question. Bitcoin is rarely used for the purpose intended when it was created. A few international brands accept Bitcoin only, and those involved in cryptocurrency works accept Bitcoin payments. The majority of people simply want to profit from Bitcoin investments. To be honest, I want to make money with Bitcoin as well, even though I accept Bitcoin payments for my work-related marketing. And, of course, when I hire someone for online work, I am willing to pay in cryptocurrency, which is much easier than fiat. So Bitcoin is still used as a payment method, but in smaller quantities.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Don't worry, the adoption of bitcoin as a means of payment is sure to increase over time in the foreseeable future. I don't think the selling that some people make to cover the cost of mining or whatever it takes them to sell is not a measure that bitcoin is not serving its purpose as a currency. On the other hand, adoption is still constrained by government regulations, but what is clear is that in some countries this adoption continues to be encouraged and continues to grow to the smallest business.

Look how suddenly we heard that some Nigerian bitcoin users started adopting it as a means of payment in their personal businesses. Even if they realize bitcoin is not legal as a means of payment in their country, they are brave enough to adopt it.

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Quote from: lionheart78 on January 01, 2023, 12:55:09 PM

Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Obviously the price of Bitcoin on the market is greatly affected by supply and demand. The market is supplied by freshly mined Bitcoin, there is nothing new to that, and being bought by speculative investors. Isn't the Bitcoin price trend like that since the beginning?

The thing you called electronic transfer had been used during this trade so what are you whining about? There are also more stores that accept Bitcoin as a mode of payment even countries that recognized it as a legal tender and mode of payment.

A declining price doesn't mean that Bitcoin's supposedly function isn't practiced anymore, in fact, it is well used because you cannot trade or sell your Bitcoin without transferring them or creating a transaction so that buyers can receive your sold Bitcoin.

It is true that the supply and demand for Bitcoin in the market greatly affect the price of Bitcoin itself.
This is because Bitcoin is the most popular and most popular cryptocurrency asset in the world.
Meanwhile, the total supply which is very limited and almost exhausted can make Bitcoin survive, at least it is still the cryptocurrency with the highest price and in every future decline in Bitcoin prices, it still has the opportunity to rise more than before.
It's no wonder that many investors who hold Bitcoin keep holding it even though the price has dropped dramatically.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Obviously the price of Bitcoin on the market is greatly affected by supply and demand. The market is supplied by freshly mined Bitcoin, there is nothing new to that, and being bought by speculative investors. Isn't the Bitcoin price trend like that since the beginning?

The thing you called electronic transfer had been used during this trade so what are you whining about? There are also more stores that accept Bitcoin as a mode of payment even countries that recognized it as a legal tender and mode of payment.

A declining price doesn't mean that Bitcoin's supposedly function isn't practiced anymore, in fact, it is well used because you cannot trade or sell your Bitcoin without transferring them or creating a transaction so that buyers can receive your sold Bitcoin.

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Quote from: davis196 on January 01, 2023, 01:54:07 AM

Most of the posts in this forum are about the Bitcoin price because that's what 99% of the Bitcoiners are interested about.

Well that is the whole issue. Those 99% are not bitcoiners, those are investors. In my oppinion this forum should be used by the other 1 % to try and improve bitcoin as a payment solution as it was intended. Bitcoin is not simply an asset for your portfolio. It is more then that because it has a very useful purpose, but to fulfill it it needs constant improvements.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

I wouldn't say that the Bitcoin price is "declining day by day". There were several price drops, but the price right now is kinda stable at 15-16K USD. Maybe it will drop below 10K USD, but the real HODLers don't care that much about future price drops.
Most of the posts in this forum are about the Bitcoin price because that's what 99% of the Bitcoiners are interested about.
If you wanna use Bitcoin for it's intended purpose, just use it. It's no rocket science to setup a cold wallet and send/receive Bitcoins directly.
Do we really need a thousand tutorials about such a simple thing on the forum?
The "profit gamblers" aren't investing in Bitcoin only, they invest in the stocks markets, FOREX, precious metals, etc. The entire global finance is "casino capitalism", but only Bitcoin is being blamed for being a "gambling tool". This seems unfair to me.

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Quote from: hZti on December 31, 2022, 11:28:39 AM

That is true, the issue is that people even after the 2018 bear didn't really ever start to get bitcoin back in the right direction. Basically everything after 2018 was just a hype because of high prices and not because there was a fundamental progress. It is obvious that prices can go up again, simply because bitcoin is limited to a specific number. The question is, just how sustainable this rise could be if there are no fundamentals to support it Huh

How do you even know for sure if a price increase was caused by hype or fundamentals? Also, how is the increase from 2016-2017 not caused by hype? If anything, the 2017 bull was far more hype-ish.

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It depends on how those who own Bitcoin use it. Most novice investors cannot afford a price situation that continues to decline. Indirectly, the high sales trend that may be carried out by miners is one of the causes of all this.
For me, a situation like this is similar to what happened in 2018. I agree with the statement that many of us have the wrong pattern.

Apart from all that, I think choosing to hold in the long term is still something we should do.

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Quote from: hZti on December 31, 2022, 11:28:39 AM

Quote from: mk4 on December 31, 2022, 10:35:44 AM

Quote from: hZti on December 31, 2022, 04:08:55 AM

Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

I've seen a lot of similar statements from the 2018 bear. Look where we are now.

That is true, the issue is that people even after the 2018 bear didn't really ever start to get bitcoin back in the right direction. Basically everything after 2018 was just a hype because of high prices and not because there was a fundamental progress. It is obvious that prices can go up again, simply because bitcoin is limited to a specific number. The question is, just how sustainable this rise could be if there are no fundamentals to support it Huh

Bitcoin is mostly being used as investment by people who want to escape the devaluation of the fiat currencies, what is also a very useful feature of bitcoin, besides being a digital boardless currency. It's not all about speculative profits, but also fundamentals, and fighting inflation and money's devaluation is one of them.

Right now the situation isn't that good, it's true, but there are external factors which are causing it. Furthermore, we can't live in bullish market forever. There are cycles following each other. We have to be patient and wait for this cycle to finish. The important is that bitcoin isn't losing importance, because we are still at 16,000$ price range, despite so many negative news and thefts this year which made investors lose billions of dollars in cryptocurrencies.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

As the practice of several years shows, Bitcoin has recommended itself well as a new asset of savings and fundraising. As for the means of payment, everything is much worse here, because exchange rate stability is important for making payments, and the price of Bitcoin is very volatile, so there is no that important adoption that many were waiting for. But he will not be discouraged, because it is possible in the future that everything will change for the better both for Bitcoin and the entire crypto community.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

First, I don't think Bitcoin will loose its relevance as long as cryptocurrency exist, the kind of dignitaries, institutions, companies even individuals that have invested billions in bitcoin will always ensure that bitcoin never loose relevance.

Secondly, the current price condition of bitcoin is nothing new, except you are new to crypto, in 2017/2018 bull run, bitcoin price got as high $19,000 and later dropped way below $2,000 and remained on that category until 2020 when we experienced another bull run.

If you are hodling bitcoin for future profit, the be patient, it will come in its due time and season, we are not in a get rich quick scheme.

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Quote from: n0ne on December 31, 2022, 10:53:07 AM

The reason for which Satoshi innovated bitcoin have got fulfilled, but the same to be the mainstream won't happen all of the sudden. Just think the evolution of the financial system. From barter system the technology have taken it to the cryptocurrency usage. However the fiat usage stands high against each and every form of payment being used around.

To take the position of fiat is not an easy thing. The acceptance of bitcoin is getting increased compared to the past. This shows the financial world requires more time for its complete transition.

For me, we are slowly realizing its main purpose. The adoption may not be massive but I guess such purpose is increasing day by day.
Just think of newcomers into this industry or the countries that are making btc legal tender or legal in their financial system.
You have seen that there are countries that are willing to accept btc in their payment system, it means, they are recognizing its payment potential.
And yes, it is not sudden as it would take time for people to grasp how a btc is transacted. But once they got it, I believe they will realize its benefits as payment method.
For now, you can't really say btc can free the financial world because we are not yet in that level. Be grateful that more and more people are learning how to make their crypto transaction.

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Quote from: mk4 on December 31, 2022, 10:35:44 AM

Quote from: hZti on December 31, 2022, 04:08:55 AM

Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

I've seen a lot of similar statements from the 2018 bear. Look where we are now.

That is true, the issue is that people even after the 2018 bear didn't really ever start to get bitcoin back in the right direction. Basically everything after 2018 was just a hype because of high prices and not because there was a fundamental progress. It is obvious that prices can go up again, simply because bitcoin is limited to a specific number. The question is, just how sustainable this rise could be if there are no fundamentals to support it Huh

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The reason for which Satoshi innovated bitcoin have got fulfilled, but the same to be the mainstream won't happen all of the sudden. Just think the evolution of the financial system. From barter system the technology have taken it to the cryptocurrency usage. However the fiat usage stands high against each and every form of payment being used around.

To take the position of fiat is not an easy thing. The acceptance of bitcoin is getting increased compared to the past. This shows the financial world requires more time for its complete transition.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

First, you need to put two things into perspective in the sense that, Bitcoin is largely adopted for the investment aspects of it.
But in the process bitcoin will still achieve its fundamental purpose which is peer-to-peer payment systems that allow individual freedom to send and receive money electronically because quite a good number of Bitcoin transaction is on the p2p level.
Miners may not be the ones selling off Bitcoin and if you have been following, bitcoin is relatively stable at the moment and bitcoin is constantly making recovery attempts.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits.

I mean, we always had constant sell pressure because of miners. It's really not anything new.

Quote from: hZti on December 31, 2022, 04:08:55 AM

Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

I've seen a lot of similar statements from the 2018 bear. Look where we are now.

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Quote from: BlackBoss_ on December 31, 2022, 06:09:59 AM

Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining.

Depends on you're zooming in or zooming out. If it is zooming out, you will see an uptrend. Price increases year by year, halving by halving and a next halving is about 1 year and a half.

https://bitcoinblockhalf.com/

If we compare the price of bitcoin from 2009 to the present, the ROI that bitcoin brings is still extremely high. Just Zoom out, we can see bitcoin is doing very well, nothing is too bad with it. $16k isn't a bad price for a property that's only 13 years old, and if you bought bitcoin years ago, you'd still be profitable at this price.

Quote from: Dunamisx on December 31, 2022, 09:45:49 AM

No i disagree with this, if it had been this then everyone would have believed that bitcoin price is being manipulated, I've never come across that article that stated so about bitcoin price including the whitepaper.

Bitcoin miners are also considered big whales in the market, I don't know if they can afford to manipulate bitcoin prices. But I still think the bitcoin price is being manipulated, it doesn't move according to supply and demand.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Without miners there won't be any confirmation for the transaction and to run the miners they have to oay the electricity bills that is the reason they are selling their BTC so they can keep running their farm.

Whenever someone is selling their bitcoin remember another person is buying it for less price so we don't have to wonder is this the end of Bitcoin, blah blah... Bitcoin is here to stay and will conquer the monetary world.

Happy New year fellas!!!

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining.

Bitcoin price does not decline day by day, but it's been on a high volatility in recent days which is something common we all should understand about bitcoin price, in dip periods like these we need to buy and hold, because there will always be a rise and fall in price since it's a volatile digital currency.

Quote from: hZti on December 31, 2022, 04:08:55 AM

It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits

No i disagree with this, if it had been this then everyone would have believed that bitcoin price is being manipulated, I've never come across that article that stated so about bitcoin price including the whitepaper.

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Those are valid points but they do not mean bitcoin is useless. If bitcoin is declining in terms of fiat value then it does not mean it's failing the purpose. There are still millions of transactions happening everyday between various parties. Institutional investors are the biggest parties hodling the coins and buying more and more as we speak. Various countries whether developed / under developed are trying to adopt bitcoin as alternate mode of payment; with some cold war but it is happening. Definitely P2P system isn't getting accepted as it should have been but bitcoin not loosing its principle purpose. As mentioned above, there are still big players in the market using bitcoin.

If it wasn't under adoption then we would have seen the crypto fail by now, going all the way to zero.

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Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining.

Depends on you're zooming in or zooming out. If it is zooming out, you will see an uptrend. Price increases year by year, halving by halving and a next halving is about 1 year and a half.

https://bitcoinblockhalf.com/

Quote

It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about.

They are only parts of Bitcoin community.

Quote

What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".

Even they don't discuss about it, they are doing it. You don't know what is Internet, how it works, how it was designed but every day, you are using it.

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For daily use, you need two things:

- Exchange rate stability: Bitcoin volatility has become much less than in the past, but this requires that there be a large market capacity that makes moving the price by 1% require billions of dollars.
- Global adoption, which is something that will only happen if a large part of the population decides to use Bitcoin in a way that prompts companies and websites to accept Bitcoin for payments.

In order for that to happen, you need to use Bitcoin in speculation and other things, although geopolitical events have proven the importance of Bitcoin more than just an investment tool.

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Bitcoin price is still the most interesting thing, I don't believe people will continue to pay attention to bitcoin if bitcoin is no longer highly valuable.
Try to ask yourself what is the purpose of your participation in the market?, if it is for profit, so are others. Don't expect that bitcoin's technology is its highlight. People today are quite pragmatic and consider money a priority, anything great without value is useless.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: hZti on December 31, 2022, 04:08:55 AM

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

For every seller in the market, there is also a buyer.

Stop worrying about the price because it doesn't really mean anything if you are in bitcoin for the tech. Bitcoin works the same way today just like when the price was $60k or $100. It is still by far the most secure/most decentralized chain and only a few alts can come close. (ETH is not one of them)

Also the price don't really have anything to do with the miners anymore because the block reward isn't big enough to have a significant impact on the price.

There is only one reason for the current low prices. There are more sellers than buyers. It is that simple. When the bears get tired, then bulls will take over. It happened before, it will happen again.

Jawhead999

legendary

Activity: 1834

Merit: 1208

Actually right now Bitcoin is widely adopted as a currency since El Salvador and Central African Republic already accept Bitcoin as legal tender, also Nigerian people are use Bitcoin by directly P2P even though their countries are ban Bitcoin usage.

But the reason why Bitcoin price is declining not because of that, but many newbies are trust in so called professional investor and follow fake trading signal. Also they're sold now and trying to bought at the bottom on the next year.

hZti

hero member

Activity: 1022

Merit: 642

Magic

Day by day the bitcoin price is declining. It seems that the price these days is largely dictated by miners that constantly sell coins and investors that hope for future profits. That is also what most topics in this forum are about. What I see less and less are post about how bitcoin can be used for its intended purpose that is "A purely peer-to-peer version of electronic cash" to send "online payments (..) directly from one party to another".
Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?

Topic: What is left of Bitcoin as a tool to free the financial world (Read 246 times)