Post
Topic
Board Bitcoin Discussion
Re: Has Bitcoin Deviated from The Vision of Satoshi?
by
thecodebear
on 02/01/2024, 04:52:30 UTC
Look at the Bitcoin whitepaper once more: a peer-to-peer electronic payment system indeed. Was Satoshi really envisioning a payment system so widespread that it became a preferred way of paying for goods and services? What's happening today? Bitcoin is now more of an investment than a payment tool. In fact, it's as if all the cryptocurrencies are businesses for their inventors, bar Satoshi—a means of becoming automatic millionaires rather than a peer-to-peer payment system. In fact, the quickest way to get rich these days seems to be by starting a crypto project.

Not even the guy that started Bitcoin Satoshi Vision is exempted.

Bitcoin, a peer-to-peer payment system? Nah... more of a decentralized speculative investment platform.


Money first has to be owned before it can be used. We are still pretty early in the phase of getting people to own it. And the reason people want to own it is that it is a hard currency and therefore increases in value over time - which was part of Satoshi's vision for Bitcoin. You can't just skip straight to people using a currency when barely anyone has the currency, because you need enough people owning it and therefore accepting it for people to be able to readily spend it. Using it for payments is literally the last step in the evolution of a organically adopted currency. Bitcoin is still just very far from that final stage.


And not sure why you are mentioned other cryptocurrency as they have nothing to do with Satoshi or Bitcoin.