Quote from: Gladitorcomeback on October 17, 2024, 03:17:44 AM

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.

Bitcoin's original purpose was the "eliminate the middleman". It was created as a response to banks' failures. The great financial crisis of 2008, paved the way for BTC to take over the world by storm. Unfortunately, greed took over the industry and now centralization is rampant. With custodians in the way (exchanges, banks, institutional investment firms), Satoshi's vision will not materialize.

This is typical of new tech. They start good, only to end up being compromised in the long run. Remember how the Internet was a decentralized paradise? It's now utterly-centralized with big corporations making a living off people's data. Governments control the Internet to such a degree where they can easily surveil your daily activities (Big Brother) whenever they want to.

Can Bitcoin save you? If you want to beat inflation and get out of poverty, then yes it can. But it won't save you from banks or the government. Especially when Fiat still makes the world go round. One way or another, you need to depend on Fiat (traditional currencies) to survive. BTC alone can't be used to pay for everything. It will remain an alternative currency for as long as it lives.