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This is your bias projecting onto it what you thought it should be. It is not Bitcoin's fault you were mistaken and it certainly does not equate to failure. It
by PKop 6y ago
This is your bias projecting onto it what you thought it should be. It is not Bitcoin's fault you were mistaken and it certainly does not equate to failure.
It is easy to see in hindsight that a blockchain is and was always going to be inefficient as a transaction mechanism, moreover a finite "money" also can never compete with "easy" fiat money in expandable supply for commerce.
Whatever people (mistakenly) thought it was going to be, it is so far succeeding wildly at (long term, with great volatility) store of value asset.
- Hamuko 6y ago>It is not Bitcoin's fault you were mistaken and it certainly does not equate to failure. I guess Satoshi was mistaken as well.
- Judgmentality 6y agoI think you're projecting your own bias. It seems pretty obvious to me bitcoin was meant to be a currency based on the original whitepaper. https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf
- ncallaway 6y ago> This is your bias projecting onto it what you thought it should be. "Bitcoin: A Peer-to-Peer Electronic Cash System" "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" Sounds a lot like the original project was intended to be an electronic version of cash, which would make it an electronic currency.
- latchkey 6y ago... make it an electronic commodity.
- pharmakom 6y agoUmm no. I read the white paper and followed bitcointalk etc religiously in the early days. Satoshi even committed code towards building a marketplace It is very successful as a speculative financial instrument, I’ll give you that!