Post
Topic
Board Economics
Re: Is Bitcoin Over?
by
cotton ball
on 19/10/2019, 01:20:05 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.
Bitcoin is not over and revolution for every year, first time open to public maybe bitcoin only for investment assets with higher or lower price but today you can use bitcoin as your currency digital payment, if you online store you can use bitcoin as your payment with easy transaction and transparent for sending or receiving money, bitcoin is not over although price down many people want to adopt bitcoin as currency payment digital for the future.