Topic: Who do we feel biased about in bridging the potential outputs of Bitcoin? (Read 227 times)

I don't think that the OP understands the concept of bitcoin, may be he or she does not understand that bitcoin and fiat needs each other to exist, in the real life there are some firms or institution that does accept bitcoin as the mode of there payment, so what happens in this condition, that's to say that bitcoin has to be converted into fiat for such transaction to be successful, how will bitcoin take over the world when the amount of bitcoin to available now is not even up the the world population, I think before sometimes is been put into consideration, there should be more research to ascertain it's authenticity, has Bitcoin solved all money problems, the answer is no, so why will people just put up some writeup with much facts.

Actually, I believe altcoins are harmful to Bitcoin in a certain way. I believe Bitcoin would have grown bigger and been more adopted than it is today if not for altcoins.
I believe this because there are so many altcoins out there that have more people lose their money. Some altcoins are created to be scams while some were created to be legit but they all have one thing in common, the creators did them to make a profit off of them. So whether it's legit or scam something happened along the line and people lost money.
Now those people who bought those coins bought with the hope that those coins would be worth something in the future, some even Believe it was a way for them to be millionaires (even if it has worked for some people) but they lost their money instead
A good number of these people that have invested and lost would assume that "cryptocurrencies are a fraud", Bitcoin included. And this hinders people who would have adopted Bitcoin.
Many bitcoiners first contact with cryptocurrency was an altcoin.

Secondly, I feel altcoins bring so much heat to the industry and Bitcoin is part of that industry. You have so many frauds and scams committed by owners of projects in the industry. These kinds of activities invite regulatory bodies and security officials to the industry, making Bitcoin a target too.
Take the instance of mixers being banned in the forum. Not all mixers are scams, but the heat of the few with illicit activities taints the image of the rest and for that reason, all have been banned from the forum.

If you think about it in terms of investment, long-term investment in altcoin does not achieve excellent results.
If you think about it in terms of technological development, most altcoin are duplicates.
The only advantage for experienced investors is short-term trading.It is not blind bias, but rather based on analytical foundations

For me, bitcoin is basically the opposition for fiat, because fiat has been quite unfair for the last century or so, well it has been quite unfair since it was created, even thousands of years ago during the romans era, but still people had a chance to live a decent life.

Let me put it this way, a person who was a SLAVE that worked in the building of pyramids over 5 thousand years ago, got paid more than a minimum wage worker in todays world for many nations. That is the reason why it's more unfair today, you would earn more as a slave back in the day than what you do as a college educated white collar worker today. If you have a salary that prevents you from even getting a home, a simple shelter need which every human needs, and there is a homelessness pandemic around the world, then I am sorry but bitcoin is a must.

What we are supposed to be biased towards are governments, not Fiat or Altcoin. The central, tyrannical mentality of the ruling minority in any country is the main reason for everything that happens. The problem is not a problem with Fiat, but rather the problem is that they want control and do not imagine the idea of decentralization that Bitcoin brought.

Fiat is a form of central money, while Bitcoin is another form of money, but it is decentralized, so governments fight it because they prefer central money through which they can control everything.

Others may not unequivocally say it, but it's obvious that Bitcoin supporters are biased against fiat, biased against altcoins, biased against governments, biased against central banks, biased against centralized platforms, and so on. And why not, right? At this point in time, Bitcoin isn't anymore that humble alternative that timidly stays in the corner waiting for people to try it. The truth is that Bitcoin brings a highly disruptive force. It's a radical technology. It threatens the status quo. No wonder why the supporters of fiat are like waging a war against it.

The cryptocurrency sector is s free market in which any developer could come up with diverse coins. The sector is not regulated, hence you will find many altcoins that are just copycats of Bitcoin. But you should understand that Bitcoin is not competing with any currency in the crypto space. It has developed over time to become the undisputed king of the crypto industry. It cannot be faked or counterfeited. Many people have tried to create something similar to it, but have all failed.

The government don't want to lose control over the financial operations of the country, so it is doing all it can to make fiat currency the main legal tender. But Bitcoin is not here to destroy the current fiat financial system. But it exists to give people an alternative to fiat money. I think Bitcoin and Fiat will exist side by side for a long time.

I don't understand your stance on Bitcoin romancing with fiat or altcoins. People need to convert money from fiat to Bitcoin to carry out financial activities. Don't lose sight that Bitcoin is not generally accepted in all the nations of the world, hence people will also swap BTC for fiat and vice versa.


Bitcoin is not the only solution to global economic problems. Many economic issues are not related to the banking system. When you have a unique and dependable currency, you don't need to fight for it, it will always subdue all challenges and come out victoriously.

OP, Bitcoin is not in a war with altcoins or fiat money; it is just there on its own and with its own value. If you understand the ideology of Bitcoin, then you will focus on silently accumulating your bitcoin and also learn more about the technology.

There are Bitcoin miners on this forum, some people that are running nodes of their own, and also some people who have been holding Bitcoin for a very long time now, and these people understand that Bitcoin has a lot of value that it will archive in the future, and there is no way that Bitcoin can be valueless.

 That's why more people are investing in Bitcoin. It's a private asset in which when two users of the same technology decide to carry out a transaction and agree to receive payment in Bitcoin, then it's a p2p transaction that you bot have transacted with without having to visit the bank and have your transaction processed by a third party who knows your identity. Bitcoin is special in its own way.

You need to understand couple of things, first of all Bitcoin was created as a P2P transfer without involvement of any third party and it was never intended to compete with fit and Bitcoin was also not launched as an investment scheme which newbie and even old users failed to understand and in their mind they just think Bitcoin as an investment medium or get rich quick ponzi and I think you are one of them since you have mentioned things like taking over economy and all.

Altcoin though they follow the foot steps of Bitcoin but they have different purposes apart from being an P2P transfer medium.

I think we should be biased about fiat and governments but with alts too. If I have to tell on the level of a scale then I will say 90% biased with fiat and governments and 10% with alts, because alts are under BTC and we know that, so we should not compete with our BTC swords against alt's plastic or fake knives. We should oppose fiat and governments not because they are against BTC. Because they are not providing us the financial freedom.

I think you should make a correction that, now even though governments are not against BTC because of ETFs and adoption of it, we can see governments are also adopting BTC and want to make money out of it. And the last reason is we have our darling BTC and its features that make us unique from all and make us fall in love with her.
As a BTC investor, I will say BTC is the best haven if compared with fiat, banking schemes, or alts, due to many reasons. We can't conqueror the global economic challenges with the current state of BTC because of its scalability issues, until they get resolved we should not say BTC can resolve economical challenges.

i don’t think bitcoin has any opposition or opponent bitcoin is a currency of it own no altcoins has ever reached bitcoin has while fiat is used for a completely different purpose
i think that we shouldn’t be worshipping any kind of currency instead we should maintain an objective eye there might be flaws to the bitcoin technology and as users we should be able to think critically in order to solve it and make bitcoin better and better each time

Yes, it won't be easy to get someone to start investing in Bitcoin when they already believe in banks.
This also happened to my family, I just gave them an understanding of what Bitcoin is and what are the advantages and risks.

So investment is the choice and responsibility of each person, it cannot be forced.
There is no point in arguing about whether to invest in Bitcoin or not, just need to learn and understand.

It is natural that people who do not know about Bitcoin will be directly opposed to Bitcoin. You know enough about my bitcoin we know what bitcoin is like after we know it but won't argue with anyone on the merits of bitcoin but those classes of people who try to belittle bitcoin who don't really know about bitcoin. My dad believes in cash and he thinks saving is the best move for him now if I tell him to invest instead of saving will he listen to me? Will not listen at all. There is nothing to compare Bitcoin with other coins in the market because other coins in the market are dependent on Bitcoin. We know the matter even if others don't, so there is no question of arguing with others about it, we will just do our work. If we can afford to invest in Bitcoin then it is the right decision for us and it is foolish to argue about these things.

I don't have any swords on me right now, but you can give me the number of your dealer I might order one (just kidding). As BTC investors or traders, or enthusiasts we should not possess habitual baised issues or oppose anything even if it Alts. That's because most of the BTC adopters in the current era are here to earn money and they (including me) will prefer to avail as many opportunities as they can. Some will say having alts will decrease the risk involved in investing in crypto because we get to have a chance to diversify our capital and etc. etc.

I will say, just don't ignore or oppose alts, keep an eye on them because not every alt is that bad, some are really good and solving real problems, I hope your swords will not turn to my side, I am not saying BTC is bad but I will say open mind is better than having a close mind. And this is something I also learned a few months back, before it I was also thought BTC was everything even though all of my earnings were in BTC but after seeing the potential of alts (not all, but of few) I was convinced to keep an eye on the alts too.

But as a BTC enthusiast, we should oppose the fiat system and I am still against it because I have learned that they want us to remain their slaves and so dependent on them while there is no need for us to remain one. Everything is so clear and independent but they still made us live like this and even some banks went bankrupt results in the loss of many people. I know you might say, there are insurances, etc., etc. but in my country, the SBP has declared that if any bank goes bankrupt we will not be responsible for it. I mean, the main authority behind these banks saying this then where will people place their funds? I know BTC is here to solve the problem but who will teach those who don't want to and still want to use Banks?

Altcoins are largely useless, but they're also not very harmful to Bitcoin, so I simply prefer to ignore them. As for fiat currencies, I used to believe that we'd see a major fiat crisis that would prompt the world to switch to cryptos, but I no longer consider it realistic in the near future. Fiat sometimes fails, but it can also be very stable, and there's a lot of global infrastructure around it, so I don't think we should expect it to become obsolete. So Bitcoin is just an alternative to fiat, not a way of replacing it completely. Building up partnerships with traditional institutions can be helpful to promote faster adoption, but being against traditional financial structures is reasonable as well.

Yeah. This is one reason I am grieved about with the government making restrictions on Bitcoin not acceptable in such respective societies without considering of its masses are interested about it.
In my country, I don't know if it is for security reasons or the biased nature of the mindsets of the government not having any form of authoritative capacity in governing of Bitcoin since it has been a non-custodial decentralized digital currency.
I came from a place where the government is selfish in the sense that they feeds fat and fills their personal pockets with the public funds and legally extorrtsy its citizens personal incomes as revenues where to generate their own income.
As though since they don't have the governing power on Bitcoin, they situated Bitcoin and Crypto currencies as a whole on suspension mainly towards the governance levels of financial transactions while it is authorize acceptable at the private levels where individual is liable to decide if yes or no, I will accept or not accept Bitcoin.

So if the above mentioned locations governmental system doesn't want to accept Bitcoin in its governments sectors, why depriving its citizens from it? Is their a negative tag in Bitcoin that those who are allowed to legally accept it doesn't know about? Or is it that the governments that permits it acceptable in it countries doesn't care about the financial securities of its citizens or what?
This is just one of it I inhaled the grieves about the biases (obstacles) surrounded with Bitcoins

Centralized exchanges cannot limit the number of altcoin. blockchain is open source and you can issue a new coin or token easily, but it is difficult to create liquidity and value for it without centralized exchanges. It is true that there can be liquidity from DEXs, but good projects are easily listed.
The only thing that will reduce the number of altcoin is investors not betting on them. altcoin developers aim for quick profits. Your failure to invest in these projects makes them either strive to develop them or stop, and in both cases it will reduce the number of altcoins.

We are supposed to get used to this kind of experience because it's not happening for the first of its kind, bitcoin exist on its own, every other altcoins came after it to make thesame lookalike project like bitcoin and name them all manners of names, the mistake that government is doing is not realized yet by them, if not they would have known that bitcoin is not the one they are going after, instead all other cryptocurrencies which so many of them are constituting nuisance in cryptocurrency, you could also see that the government cannot stop bitcoin adoption, they can only attack all it's centralized exchanges and the rest, governments should go after shitcoins and not bitcoin.

@OP where you live? if you live in a country where Bitcoin is legal, I ask you to visit the country where Bitcoin is completely illegal e.g. Morocco, Egypt, Nepal etc. Then publicize yourself if you're a Bitcoin holder and make a speech against centralized banks in front of people.

Unfortunately this is a free market after all, centralized exchanges might able to limit the number of altcoins, but any project can list their coins in swap exchange. I think most of coins that exist are failed projects, only Monero looks successful.

Firstly, I'm not a fan of being bias in nature, I like to call a spade a spade not to think of anything in my own favour.
For the case of Bitcoin, puting Altcoins and fiat for one to be biased about any of them. what you should consider first is; is this biases negative or positive, one can be positively or negatively biased because both the Altcoins has negative effect on Bitcoin. for Altcoins they where all introduced for a selfish reason which we all know so being biased has to do with what effect does it have on Bitcoin, is it a negative or positive effect? Every stands for its own purpose not even the fiat is in competition with Bitcoin, fiats currency works Vice Viz with Bitcoin.

Fiat tends to be a tool for the government to control its citizens but it doesn't stand against the welfareness of Bitcoin hence it has been in existence before Bitcoin.

Bitcoin is not to be blamed neither Altcoins nor Fiat for anything that is going on or happening in the world now like I said before everything stands for its purpose Bitcoin is an evolution and fiat too was an evolution as of when it was introduced.