We have great respect for Bitcoin community and acknowledge its foundational role in transforming finance and technology. However, with the rapid influx of new entrants in blockchain and evolving forms of digital assets, it’s worth revisiting where Bitcoin stands today and what its future holds.

As we enter 2024, we’ve taken a fresh look at Bitcoin’s current position and its path forward in a landscape that’s growing ever more dynamic. We hope this analysis brings value to the community and sparks thoughtful discussion.

Enjoy the read!

Project Why Team


Bitcoin: Satoshi’s Memetic Revolution


Abstract

Bitcoin is often heralded as “digital gold” and a decentralized alternative to traditional currency. However, its extreme price volatility, lack of meaningful peer-to-peer adoption, and dependence on speculative investment instruments like ETFs raise concerns about its long-term viability as a true store of value or practical currency. This whitepaper critiques Bitcoin’s narrative as “digital gold” and argues that it functions more like a speculative asset or “memecoin,” dependent on hype and hope to sustain its market.

https://x.com/whydots/status/1854937524621525263