Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: IS BITCOIN NOW IN A DIFFERENT DIRECTION FROM ITS INITIAL GOAL?
by
suzanne5223
on 29/05/2024, 23:22:43 UTC
⭐ Merited by Forsyth Jones (1)
This may be a question that bothers me in my heart and mind who thinks that Bitcoin as part of cryptocurrency has deviated from its initial goal which was intended to fight banks
You get all wrong here. Bitcoin's initial goal was not to fight back but to provide solution to the drawback in the banking and monetary system create by the Fed.

I think it has now moved towards a commodity project for example (DeFi, NFT and etc) rather than being a legal alternative means of payment, from that question I want to get enlightenment from all members about whether bitcoin and other cryptocurrencies have changed from their original goals? Hopefully this will be material for constructive and enlightening discussion
Bitcoin has not moved towards the commodity movement but the spot ETF which was approved and a lot of crypto enthusiasts were happy about the cash inflow it will inject into the market is a platwork that will treat BTC, and other accepted ETFs as fungible tokens. However, this can be correct if more people from the community choose self-custodial investment holding over spot ETF.