Will Bitcoin become better - page 3.

uneng

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Quote from: Kalchef on May 29, 2024, 01:59:46 AM

The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Keep in mind politicians are the reflex in the mirror of the citizens from their respective countries. Politicians are to be blamed, but if they are able to have so much influence and reach the power positions they are currently in, you have to blame some other people as well...

Bitcoin won't become better because it's endorsed by politicians or governments. Bitcoins exists and works independently of political propagandas, and it has been always like this since the beginning. Probably that is why it has been working so nicely so far, and I hope it still continue working this for a long time yet!

The impact of politicians over Bitcoin, as I see, is the fact they have influence over a lot of people's actions. If they tell people to behave somehow, they immediately follow the orders. Then we could speculate that if politicians ordered people to use Bitcoin, they would adopt it on the same moment, what would have effect over Bitcoin's demand and price positively. The question is, why would they do this? It doesn't seem to benefit them in anyways.

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Quote from: Bitcoin_people on June 11, 2024, 09:01:01 PM

Quote from: Kalchef on May 29, 2024, 01:59:46 AM

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Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

Correct. The important point is that Bitcoin is not controlled by anyone and is not centralized, so Bitcoin will continue to be a scarce asset in the future, although many people want to prevent it from any authority, Bitcoin will still be better in the future. Bitcoin is currently only a decade old and has already had a huge impact on investors and the community. In my opinion, Bitcoin still has a long way to go to become an investment asset or hedge against inflation.

Even if what the OP said will have an impact on Bitcoin, it is only temporary, especially now that Bitcoin has passed the halving period, of course there are many dynamics going on. but believe me, Bitcoin will be much better in the future, we just need to be patient until the time comes, Bitcoin will make new history in the market.

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Quote from: South Park on June 05, 2024, 04:19:59 PM

~snip~
And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

You are right, that Bitcoin has brought about significant changes in the financial world by introducing a decentralized and digital alternative to the traditional fiat system. But I have noticed that this is just an exchange and both parties agree with what they are exchanging, whether it is gold or something similar, if both parties agree then it is valid.

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Quote from: kotajikikox on June 10, 2024, 06:57:21 PM

Gold is valuable but bitcoin's accessibility and decentralization are one of the things that give bitcoin the edge compared to gold. Who do you know carries gold around? and who do you know carries bitcoin around? Grin

I think that shouldn't be the metric for us to compare Bitcoin with gold. It's true that we can't carry gold around like Bitcoin because Bitcoin is digital and it is present in our wallet while gold (if we are talking about physical gold) can't be taken everywhere. However, we can also buy digital gold, some merchants and systems allow you to buy digital gold and you will have them in your wallet at all times, you can sell them whenever you want just like Bitcoin, and get cash readily available.

If we look at both from an investment perspective, the biggest advantage of Bitcoin over gold is that it provides investment flexibility which means that a person doesn't need to have a large amount of money to start buying Bitcoin but as low as $10 is enough to get started whereas for gold, you need to buy the minimum unit and that will cost way more than $10.

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Quote from: Kalchef on May 29, 2024, 01:59:46 AM

~~

Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

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Quote from: Kalchef on May 29, 2024, 01:59:46 AM

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

lol
Politicians are very big liars and that’s why I personally don’t take anything they say to heart because it seems they all forget their promises as soon as they get elected into office and initially I thought it was just my country affected by this actions of the elected representatives of government but I’ve also come to realized that, the almost everywhere in the world is also passing through similar cases.

Op I don’t know if this your post is more political but personally it doesn’t interest me to discuss politics that much but in most cases where you see me involving in political talks the it’s simply because I don’t have a choice but to engage in the takes.

It’s not right to hold any word from the politicians, until it is actualized and I don’t really know if the usdt will later drop against dollar but I’m sure it will take a lot of time.

I think bitcoin will gain more popularity and more investors if the United state dollar is backed by bitcoin because it will send a lot of positive meanings to potential investors and give bitcoin more global recognition.

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Quote from: mirakal

Bitcoin has become better without the influence of any parties or else, this will ruin the purpose of its creation. People love to see how it works today while it was not yet controlled by any known personalities and any changes that may happen will also affect the future of cryptocurrency in general. Therefore, if we want to look at Bitcoin better, then we should help to keep it decentralized in order to maximize its features. Or else, we are putting its end and no benefits gains.

If anyone told you that Bitcoin will not going to be better, just point out at where Bitcoin is coming from and where it is right now which are significance of where it will going to be in the nearest future to allow investors to experience massive income from their investment. I don't think, politicians will have such opportunity to control the price of Bitcoin than to use all those words to play politics with their citizens to achieve their goal, because Bitcoin will still remain decentralized currency that came to stay for a long period of time. But it will be difficult for Bitcoin not to get better and better again, because if you look the massive population around Bitcoin investment, you will know that the population will continue increasing to make Bitcoin more popular than any other cryptocurrencies in the market.

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Quote from: South Park on June 05, 2024, 04:19:59 PM

and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold?

Gold is a rare asset that no one really is very willing to use it as a mean of exchange and instead prompts to hold it. This is what we are seeing happen to bitcoin but the difference is that bitcoin can still be used as a mean of exchange.

Quote

Satoshi changed the game forever by inventing bitcoin,

Gold is valuable but bitcoin's accessibility and decentralization are one of the things that give bitcoin the edge compared to gold. Who do you know carries gold around? and who do you know carries bitcoin around? Grin

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Quote from: SickDayIn on June 10, 2024, 08:16:35 AM

The total supply of USD is $25 trillion.

First of all there is no ‘total supply’ of usd as it is not limited. There are also categories of which money we’re talking about. M0 is all the usd in its most liquid form: cash. M1 includes money that are used in exchanges such deposits and checking accounts. M2 includes M1 with the addition of savings and time deposits. M3 and M4 are considered broader categories of money that include large time frames and banks.

It’s difficult to determine how much usd really there is but currently there are only 2 Trillion USD in circulation.

Quote

Let's round it down to $21 trillion to make math easier. That would make, with a supply of 21 million BTC, that each coin is worth 1 million coin each.

Bitcoin’s value will not be determined by usd’s supply even if it was used to back up usd. Both fiat and crypto have fluctuating prices despite crypto being more volatile.

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Quote from: Kalchef on May 29, 2024, 01:59:46 AM

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

I am not sure what you are getting at here or how you formed this idea, but US dollars will never be backed by Bitcoin.

Remember that USD is the world reserve currency, and many countries outside of the USA use USD to transact.

The total supply of USD is $25 trillion. Let's round it down to $21 trillion to make math easier. That would make, with a supply of 21 million BTC, that each coin is worth 1 million coin each. That is, taking into account the US government would need to buy EVERY single coin. So in demand alone, the price of 1 btc would be way more than 1 million.

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Quote from: Kalchef on May 29, 2024, 01:59:46 AM

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

When you bring something like this and include the source link so we can believe what you are saying, since many of us haven't heard about it, I doubt if this is a made-up story.

However, this is going to be impossible, man. I don't think it will happen because Bitcoin is decentralized, not centrally controlled by anyone. and because from the day it was created, it was not controlled by anybody. Even now, it will not be done that way. Also, remember that US dollars are a centrally controlled currency that is controlled by the US government.

Quote from: Kalchef on May 29, 2024, 01:59:46 AM

What are the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of?

Will Bitcoin become better if any of these become possible?

This will not be going to give any advantage to bitcoin but disadvantages because they will disturb the investors by maybe paying tax and other things that were not there before. However, bitcoin is already better as it is now. We just hope for more betterment of bitcoin, and nothing more than that. If any government tries to put their hand in bitcoin, I don't think they will be able to accomplish that because that is not how it was created. I think they can just leave the currency the way it is because regardless of their hatred or something, they can control it.

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Quote from: Marvell1 on June 07, 2024, 07:05:38 AM

Even if bitcoin solves the transaction fee problem and becomes stable, it will never replace fiat for day-to-day payments. The government will never let that happen until they find a way to control it. But if governments find a way to control bitcoin and it becomes centralized, will it still be attractive? So I don't believe that bitcoin will replace fiat currency, and I also don't want bitcoin to become centralized.

I'm happy with how things are going, bitcoin is a highly volatile investment because I can take advantage of that to make a profit. In particular, bitcoin's decentralization will partly help me avoid too strict control from the government.

Of course governments won't let that happen. Otherwise, they would be giving the power back to the people. It has always been about control from the very beginning. Why do you think Fiat was created in the first place? With central banks in play, governments will be able to do whatever they want with the economy. And no one will be able to stop them. BTC by itself can't be stopped either, so it will co-exist with CBDCs for generations. That's assuming Bitcoin stays decentralized forever.

I sure hope developers improve Bitcoin's on-chain transaction capacity to help keep fees at the minimum. The Ordinals craze will stifle its ability to be used as digital cash. The future is unpredictable, so we can only hope for the best. Cheesy

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Quote from: btc78 on June 02, 2024, 12:10:17 AM

Quote from: CODE200 on May 31, 2024, 04:32:47 AM

Wouldn't being backed by anything make bitcoin a centralized currency?

You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.

However, Bitcoin will not be able to be controlled by the government, no matter how big their efforts are because Bitcoin is a decentralized asset, Bitcoin will always be that, Satoshi is a pseudonymous, so he will not be able to be found and even intimidated into handing over the cryptographic keys of bitcoins. Bitcoin will always be a decentralized asset forever, it cannot be changed.

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Quote from: btc78 on June 02, 2024, 12:10:17 AM

You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.

If we want mainstream adoption, like shops and markets accepting Bitcoin as a payment method and it being legal to be traded and used around our countries when we need to understand that regulations will follow, we can't have mainstream adoption without regulations and having authorities or institutions involved.

Even if we don't want mainstream adoption, governments and central authorities will still keep interfering as long as people are using cryptocurrencies because they can't let them use something that they don't have any control over, and they will always try to have at least some control over what people are using even if they can't control the network, they will keep tracking transactions and stuff.

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Quote from: Z-tight on June 06, 2024, 01:30:48 PM

Quote from: mirakal on June 05, 2024, 08:02:15 AM

Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.

I don't even think politicians want to control BTC, they already know that is not possible, so they simply want to regulate it now and also stop people from using it privately, that's why they are attacking BTC privacy solutions. BTC is decentralized and its improvements is not in the hand of governments or in any central authority, but in the BTC community.

Maybe not since they have something want to push aside from bitcoin. We know that they are trying to introduce CBDC to pursue their interest since maybe they want to dominate on the financial system and make everything beyond on their control. That's why they do that action where they require to have this KYC feature on each crypto platform since they want to know the real numbers of people using bitcoin.

That's why hopefully that they don't implement a total ban on bitcoin so that we can still use it since they have all the authority and decide what they want to accept on their country.

So I guess for this issues we should see what government actions will be made in future so hopefully there's no bad news will happen and there mind will shift into something beneficial to us bitcoin users.

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Quote from: _act_ on May 29, 2024, 02:10:08 AM

Quote from: Kalchef on May 29, 2024, 01:59:46 AM

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

This is not possible because bitcoin is not centralized or controlled by any central authorities. Bitcoin price is derived from demand and supply and nothing more than that. That is why no central authority have the power to control bitcoin price and the reason for its huge adoption as it is totally different from fiat.

Yes the Bitcoin is not centralized , but some policy of government can slow down the adoption in many places which the policy that kick against is made just as it's here my country where the government is fighting all exchange even bound the crypto though it did not stop the movement of change it adoption but slow it down baids in my perception on how it would have gone beyond this stage here in my nation as some who lack understanding of it is faced with some phobia of not knowing what next may be the outcome blackout on the process of investing or holding mostly this aspect they are arresting the exchange official and stopping means to exchange the crypto by holder.

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Quote from: Abiky on June 07, 2024, 06:28:29 AM

Quote from: South Park on June 05, 2024, 04:19:59 PM

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

People aren't buying things with Bitcoin either. They're treating it as a store of value just like Gold. The high network fees and market volatility makes it difficult to use BTC like digital cash. Not even the Lightning Network helps.

While I'm confident Bitcoin will improve over time, I wouldn't expect it to replace Fiat for day-to-day payments anytime soon. Hopefully, Bitcoin stays decentralized for generations. Cheesy

Even if bitcoin solves the transaction fee problem and becomes stable, it will never replace fiat for day-to-day payments. The government will never let that happen until they find a way to control it. But if governments find a way to control bitcoin and it becomes centralized, will it still be attractive? So I don't believe that bitcoin will replace fiat currency, and I also don't want bitcoin to become centralized.

I'm happy with how things are going, bitcoin is a highly volatile investment because I can take advantage of that to make a profit. In particular, bitcoin's decentralization will partly help me avoid too strict control from the government.

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Quote from: South Park on June 05, 2024, 04:19:59 PM

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

People aren't buying things with Bitcoin either. They're treating it as a store of value just like Gold. The high network fees and market volatility makes it difficult to use BTC like digital cash. Not even the Lightning Network helps.

While I'm confident Bitcoin will improve over time, I wouldn't expect it to replace Fiat for day-to-day payments anytime soon. Hopefully, Bitcoin stays decentralized for generations. Cheesy

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Quote from: mirakal on June 05, 2024, 08:02:15 AM

Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.

I don't even think politicians want to control BTC, they already know that is not possible, so they simply want to regulate it now and also stop people from using it privately, that's why they are attacking BTC privacy solutions. BTC is decentralized and its improvements is not in the hand of governments or in any central authority, but in the BTC community.

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Quote from: lizarder on June 05, 2024, 05:01:44 AM

There is no connection between fraud and bitcoin and that must be straightened out first because fraud is only affiliated with individuals when they run. If the government restricts bitcoin because of fraud then fiat currency must be the main thing to be eradicated because before bitcoin existed fiat currency had played a fairly important role in human life as a means of transaction. There are even many frauds involving fiat currency and much worse money laundering everywhere carried out by greedy people.

Separate fraud from bitcoin or fiat currency because it is affiliated with criminal acts carried out by a group of irresponsible people. When we who understand bitcoin continue to say the word fraud, this will actually have a wrong impact on beginners who read it. The system that is running is already so perfect in Bitcoin and will continue to increase from the initial process until now.

Yes, bitcoin isn't used for fraud because it's bitcoin, everything is used for fraud, it's like people act as if before bitcoin nobody did money laundering or scamming or whatever illegal thing. The worst one is that people talk about how bitcoin can be used for drug purchases, like somehow people didn't use fiat before bitcoin was created anyway. Criminals are criminals, you do not have to compare bitcoin to anything at all, which means that we are going to end up with something much better.

I believe that the best thing to do would be just avoiding the same topic in the end. We should probably consider that we are going to end up with something that will be totally unrelated, people will use whatever they can if they want to do it.

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