Have we departed from Bitcoin's original purpose?

[pawel7777]

I came across this meme sometime ago, and I think it's hard to deny there's a lot of truth to it:


Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

[pawel7777]

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[_act_]

You can still use bitcoin for P2P transactions. You can still decide to convert your fiat to bitcoin which still means fuck the government as you will control your own money yourself.

But just know that most people are ignorant. You will see many of them store their coins on exchanges and also doing things that will makes them vulnerable to lack of privacy and security.

[MAAManda]

Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

Yes, and that's real, but that's how it should be, we can't expect everyone to be in the same boat. Some act as traders, some act as maxi, others act as earners from programs such as airdrops. However, I believe, with all the misuse of Bitcoin (BTC) today, we'll see the day when the calculator becomes error to calculate 1 Bitcoin (BTC) to FIAT, and in that day, we'll return to the condition of how Bitcoin (BTC) should be used.

[PX-Z]

It somewhat evolve and grow on the outside of the Bitcoin's whitepaper, even the thoughts of it as an investment, where most bitcoiners do and its the most thing they have interest, it's huge value. The moment government accepted it, have laws and regulations is the time people get dependent on the government's next move towards bitcoin's price. In which i don't think Satoshi will be happy, but anything than that, it is still the same Bitcoin and its purpose.

[KingsDen]

Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

I once raised a question in the other forum, that "if BTC was to be a stable coin, would it have made waves till now?".  I guess my answer is as same as yours.
The early adopters of Bitcoin were really the ones that enjoyed bitcoin a bit more than us, as almost majority of the people in bitcoin are just in for the price rise and profits.

[Altlover]

As Bitcoin continues to evolve and as misuse and volatility affect its value, it's possible that its role and perception will also change. The idea of a day when traditional valuation methods fail or become irrelevant reflects concerns about market stability and Bitcoin's ultimate function. Whether this would lead to a reversion to Bitcoin's original vision or a new phase in its development is a matter of ongoing debate and observation.
Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

Yes, and that's real, but that's how it should be, we can't expect everyone to be in the same boat. Some act as traders, some act as maxi, others act as earners from programs such as airdrops. However, I believe, with all the misuse of Bitcoin (BTC) today, we'll see the day when the calculator becomes error to calculate 1 Bitcoin (BTC) to FIAT, and in that day, we'll return to the condition of how Bitcoin (BTC) should be used.

[target]

Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

I once raised a question in the other forum, that "if BTC was to be a stable coin, would it have made waves till now?".  I guess my answer is as same as yours.
The early adopters of Bitcoin were really the ones that enjoyed bitcoin a bit more than us, as almost majority of the people in bitcoin are just in for the price rise and profits.

The situation has change also because back in 2013 the people are just not anxious of the economy to go this worse, they haven't seen the pandemic effect yet but the new investors in crypto are not coming to escape government surveilance but to make money.

And the government also is forcing users to just comply thru the tight regulations.

[yhiaali3]

Although the picture is very sarcastic, unfortunately it expresses the reality that the Bitcoin community has reached. I cannot say that we have completely deviated from the original purpose of Bitcoin, but I can say that we are not on the path that should be.

Satoshi's dreams were very big, but there are very big obstacles on the way that prevent the achievement of the original goals, most notably governments, whales, and the lack of knowledge of Bitcoin among new investors who view Bitcoin as a profitable investment only and are only interested in the price... and many other obstacles.

[TomPluz]

You can still use bitcoin for P2P transactions. You can still decide to convert your fiat to bitcoin which still means fuck the government as you will control your own money yourself. But just know that most people are ignorant. You will see many of them store their coins on exchanges and also doing things that will makes them vulnerable to lack of privacy and security.

People remains to be people and as humans as we are, human nature can come into play and I think this is happening in Bitcoin too as it evolved and come into the mainstream. We could not anymore be strict and just stick to the original vision of Satoshi while Bitcoin is now a recognized digital asset even by the Wall Street. In the years to come, we can expect more and more changes along the way but I am not looking at them as really deviants but an addition to what Bitcoin can do. While we are telling people to get educated with Bitcoin, we can not force them to be boxed here and there...this remains to be part of the Bitcoin history and there is nothing much we can do about it.

[hugeblack]

This would be true if Bitcoin development stopped and was limited to being used as an investment, but reviewing the technical updates you will find that there are efforts being made to make Bitcoin more decentralized, even though investors' interest is towards something else.

[NotATether]

Lightning a smol brain talking point? This looks like something franky1 would write 

And why no talk about mixers there? Arguably that is one of the most important topics, if not the most important topic with Operation Chokepoint going on.

Bitcoin's a steady ship, so of course nobody wants to disrupt it by making cutting-edge innovations. Money is not supposed to be constantly upgraded. Which is the case for the Bitcoin protocol.

[PrivateKayla]

The shift from Bitcoin's original purpose allowed many to attain wealth they couldn't have achieved with traditional investments. It is still used as a digital currency although its widening acceptance has gained governments' attention, something Satoshi didn't want. We can't deny the shift in focus has produced innovations in blockchain and the development of new technologies and applications. Bitcoin's evolution reflects how dynamic technology and finance are especially in a digital age.

[gunhell16]

I think not, because the majority of communities in this industry field still believe in Bitcoin's potential capability. And it has many usages that we still benefit from and use. Nothing has changed and nothing has changed.

If anything has changed, it is that as time passes, we can prove that Bitcoin's price value cannot be stopped in the future. Even though there are many FUDs against it, Bitcoin still remains a firm stand in the market.

[Kemarit]

I came across this meme sometime ago, and I think it's hard to deny there's a lot of truth to it:


Do you think we took the wrong path of focusing mostly on the investment value of Bitcoin neglecting its use as functional money?

Well at some point, we really need to evolved as well from what the original purpose is, to be a micro-payment scheme and this is what Satoshi wanted Bitcoin to be. But when he disappeared, it totally chance, we have seen exchanges early on and then Mt. Gox and then we have assigned value per USD, 1 Bitcoin = x amount of dollar.

But I wouldn't say that we took the wrong path, it can be used by functional money if we want to. Or hedge against inflation or used it to be P2P. However, almost everyone here is out to make money out if, like becoming a trader or holder, and I do not thing that there's wrong with Bitcoin being like that today.