Post
Topic
Board Bitcoin Discussion
Re: How is Bitcoin living up to Satoshi's original vision?
by
HabBear
on 28/01/2020, 19:14:39 UTC
I believe Bitcoin is starting to deviate from Satoshi's original vision in some specific areas, but not the same areas you have concern.

How can we even call Bitcoin a crypto CURRENCY, it's really not a CURRENCY anymore and I'll explain why.

Sure, Satoshi created a currency but that's also a term for an asset that can be transacted...which is what Bitcoin is. He could never perceive how the market would use this asset and the fact that people are hodling it more than spending it is probably a testament to how bad the problem was he was trying to solve.

If he's trying to solve the inequity between the rich and the poor, then people who own bitcoin and are hodling it are doing so because it helps them resolve that inequity in wealth between the rich and the poor!

For me, Bitcoin is starting to deviate from the original vision in the following ways:
  • Mining is for the wealthy, not for everybody
  • As the cost of mining increases the currency's control becomes more centralized among fewer mining operations

In theory these concerns I list would be resolved once every coin is mined. But this is also why ideas like Pi coin are uniquely attractive as alternative ways to deliver mining to the people.