Post
Topic
Board Bitcoin Discussion
Re: Bitcoin critics weren't wrong
by
coupable
on 26/03/2025, 23:01:07 UTC
Ultimately, the broader question may be whether Bitcoin’s value proposition as a store of value or hedge against inflation outweighs the issues it faces in terms of practical adoption for everyday transactions. Perhaps, for Bitcoin to truly fulfill its original vision, it needs to tackle its scalability issues, improve usability for everyday consumers, and address the environmental impact — but those are big hurdles to clear.
In my opinion, using Bitcoin solely as an investment product, making it more of a speculative instrument than a store of value, has harmed the concept of Bitcoin as defined by the Satoshi Protocol more than it has helped it spread. With the increasing difficulty of mining, which has become a costly industry, and the rise of alternative currencies, the use of Bitcoin as a payment system has declined, and its use has been limited to a few specific tasks. Without overcoming some obstacles, bitcoin may remain a mere investment asset far from becoming the practical everyday currency that satoshi has initially envisioned.

The balance between maintaining decentralization and security on the one hand, and improving efficiency and adaptability to daily needs on the other, remains a significant challenge that may determine Bitcoin's future as a leading cryptocurrency, or simply as a store of value.

If you are here in this market, it is up to you how you will look at this investment. If you can still gain profit or not, because let us admit the fact that bitcoin is a digital currency where volatility factor is still a major consideration in going to this market. There are pros and cons like any other investment, now, it is on you if you can bear those pros and cons and use it to your advantage.

The point is that Bitcoin is currently not actually used for the purposes for which it was created, and is mostly used on trading platforms as a speculative instrument. Bitcoin is primarily a tool for electronic payments in addition to having currency properties. Can you give me a breakdown of the percentage of Bitcoin's use in transactions, excluding trading platforms and trading services in general?

When we say we want Bitcoin to spread, we mean increasing its popularity for everyday transactions, not just as an investment tool. If all trading platforms were shut down, would its popularity decline? If Bitcoin's price were stable and didn't generate risky profits, would it still be as popular? Indeed, Bitcoin culture is spreading, but it remains very limited.