Post
Topic
Board Bitcoin Discussion
Re: Is bitcoin slowly dying?
by
Abiky
on 13/12/2024, 15:58:24 UTC
I'm into crypto since 2013.
Since the beginning I've always seen cryptos as an instrument of liberation from government slavery and the tiranny of central banks and an empowering tool for the poorest.
Yes I'm glad BTC has become more valuable with time but I'm in firstly because I always intended it as an instrument to build a better world.
Above green candles I'm more glad when I see an interview with a poor guy from africa using btc for micropayment or a pakistani woman using it to free herself from a system that would otherwise repress her.
During all of these years I've been always skeptical about the different random guys shouting and putting themselves as great defender of btc from Peter McCormack, to bitcoinboy, from Tone Ways to any possible other person which acts as influencer.
When there was the blocksize war I put myself in the middle between Roger Ver and Jimmy Song but with time I've built a maximalist portfolio mainly with btc.
I also "hodl" eth and xmr.
Now that btc has gone mainstream it looks to be the time to newer big players and cryptos have become only as a way to make money from BlackRock to Microstrategy.
It looks everyone is forgiving where we are coming from. Not to mention people like trump who once called btc a scam.
The old ideals and the utopia for a better future are becoming only a rich scheme.
I've recently watched an interview with this new big idol Michael Saylor saying that 300k fee per transaction is ok and I'm losing my faith in btc.
I fear we are going into a direction where one day (if not even now) we'll be hostage of these big players overtaking the community ideals despite any decentralization.
These people are here to make money. They care zero about africans or privacy and they can dictate where the network has to go.
These people are not with us.
They are against us.
We are not the same.
What do you think about?

Bitcoin's original ideals? Yes, they are slowly dying. Especially when centralization dominates the industry. Greedy corporations, banks, and governments are stockpiling BTC for their own benefit. They already dominate the market. Most people now consider BTC to be an investment tool than a currency (store of value). This is NOT what Satoshi wanted. Everything was supposed to be decentralized since day one. Yet, centralized exchanges have a large influence over market prices.

With spot Bitcoin ETFs approved in the US and abroad, we've essentially introduced the traditional financial system into Bitcoin. Something that BTC was meant to avoid in the first place. Satoshi created BTC as a response against banks' inherent failures (economic crisis of 2008). Having them on-board, greatly defeats Bitcoin's intended purpose. At least, Bitcoin's open source nature gives us some level of hope. What's stopping someone from creating a truly-decentralized version of it in the future?