Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin save us
by
Gladitorcomeback
on 17/10/2024, 03:17:44 UTC
At this point, it's too late for Bitcoin to save us. Banks are still relevant, while centralized exchanges dominate a large portion of the market. Satoshi's vision of decentralizing the economy cannot be fulfilled this way. In the early days, I've thought BTC was going to render banks obsolete and even move people's interest away from Fiat. Guess I was wrong. The vast majority people consider Bitcoin as an investment. Not a currency. They buy BTC with the hopes of getting rich in the future.

That's a harsh reality. We are witnessing something that might have been anticipated but wasn't planned. Satoshi knew that Bitcoin was going to become extremely popular in the future which is why he said that after a decade, there would either be a lot of transactions in the blockchain or there would be none. He probably also knew that the price value of Bitcoin would increase over time considering the fact that it has a limited supply and the rule of supply and demand will power the price up once the demand increases.

However, his vision was definitely different. He didn't create Bitcoin to become an investment asset or a scheme that people could use to become rich by buying and selling it. What's even more ironic is that many of the people who invest in Bitcoin don't even know what it was created for, they think it was created to become what it has become these days which isn't true.