Quote from: cellard on October 17, 2018, 12:27:00 AM

Quote from: Ucy on October 16, 2018, 05:33:15 PM

Well, Satoshi did not create Bitcoin for the so retail and wholesale people. He created Bitcoin for you & I to hold, be our own bank and trade Bitcoin Peer-to-peer. Stuff like this are pure deviation that will likely centralize Bitcoin in the long run. And once it is centralized, ideological crypto enthusiasts will have something to criticize about.

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However, if bitcoin price is not stable within a range there is not going to be adoptions

No, there is going to be adoptions. And Bitcoin is not designed to be stable. A stable price means it becomes inflationary like mere fiat.

Finally centralized/ Institutional adoption will destroy the ideals of Bitcoin because they will buy Bitcoin and sell to people just like centralized exchanges do.

Bitcoin was meant to be different from PayPal but it seems they are gradually turning into PayPal in the name of adoption.

I don't know what satoshi had in mind when it comes to retail usage/adoption, but (again assuming he was a real person and not some team with hidden agendas and whatnot) he was smart enough to know that the price would be either "a lot" or "0" in the long term, as quoted in one of his posts here or perhaps in the mailing list.

Anyway, the point is, he knew the price would keep going up, which gives an incentive for people to hoard it. Whether he saw that this would make it less interesting to use to make your groceries with or not I don't know. Im sure he did know but may not have mentioned it explicitly. The point is, your local fiat must collapse for people to spontaneously start using bitcoin out of necessity, until then, it's a better gold (which is more than enough for it to be awesome, I mean c'mon, we didn't had this only less than 10 years ago).

By the time fiat actually collapses, we will hopefully have fast, cheap transactions for retail payments, and all long term holders will be rich and ready to spend their coins.

Bitcoin is generally not for making money but for use as our local currency. If the price is not stable, its not a problem; you can hold your coins for more time and dont be panic about the price. This volatility is good and profitable for many traders. You can also make money in this situation. Continuous growth for bitcoin is not good for new investors. Many people cannot buy in high price.

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