Post
Topic
Board Economics
Re: Is Bitcoin Over?
by
Best Dreams
on 17/10/2019, 19:12:15 UTC
I don't agree.

There are many other attempts to create a cryptocurrency before, but all of them failed. Do you know why? Because they were centralized. Bitcoin was the first truly decentralized.

As it is decentralized, it cannot be shut down. A powerful government cannot shut down bitcoin now.

Proof of Work algorithm protects the network, as it is required the energy of a small country to 51% the bitcoin network.

There is no place where you can nuke with missiles and destroy bitcoin database. You can sure track some important actors and neutralize them, but it would not kill bitcoin.

Decentralization is what made bitcoin possible.

IMO, censorship resistance and lack of central authority are endgoals of a world currency, not a mean to an end.
The goal is the decentralization and the lack of central authority. This is why  bitcoin was created.

Yes!
We can say that Bitcoin revolutionized the cryptocurrency industry, then it was the first cryptocurrency that was completely decentralized, a currency that cannot be blocked or disabled, transactions of which cannot be canceled or refunded. Bitcoin has become something new, something that breaks the familiar patterns of understanding currencies. Largely because of this, he has such success.
Yeah no doubt in all crypto bitcoin has good name and son many times people said bitcoin is over and all this but it’s not going to happen because bitcoin is not only a coin now but it’s a web and all around the world people use this so I think bitcoin will be more stronger than this with time now more people recognize it.