Hello everyone. I don't want to sound pessimistic, but it looks like bitcoins ideas are dying.
I spend a week on this forum talking with people about Bitcoin and asking their opinions in threads. And I came to the conclusion that the whole idea of Bitcoin is being killed in front of our eyes.
This conclusion was arrived at too early, besides Bitcoin users have ddifferent needs and not all can be HOdlers because its not for the faint hearted and not everyone can use btc as a currency as fees can be too high at times such that you cannot make a 2 dollar payment without spending 4-8 dollars on fees...doesn't just make economic sense, so if Bitcoin use it to be stimulated fees have to become super low.
The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.
If you say bitcoin is losing it, then if we look back at the history of bitcoin words like "hodl" would have never existed because by default it was designed this way which is buy now sell later and become a crypto millionaire ...
Besides, by hodling several crypto users have cashed in big and people want to replicate this but using btc as a currency at the moment isn't practical as alternatives exist which have lower fees and faster confirmation times.
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So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that bitcoin Ideas are dying.
You know how people say one man's poison is another man's food, well this can be applied here...where one sees a currency in bitcoin others see an asset to use as a store of value nowonder its called digital gold as it also allows us to move away from the old Gold which isn't accessible to all of us.