Is The Crypto Industry In Danger Of Giving Away Satoshi’s Gift?

Is The Crypto Industry In Danger Of Giving Away Satoshi’s Gift?
фото показано с : zycrypto.com

2021-5-3 18:38

When Satoshi Nakamoto published the Bitcoin whitepaper back in 2008, a significant part of his definition of Bitcoin and its function included the elimination of a middleman in the process of transacting. The whitepaper reads in part, that Bitcoin “would allow online payments to be sent directly from one party to another without going through a financial institution.” 

This was part of the fundamental roles that Bitcoin would play in the financial sector in the long term, but over the years, there have been reasons to question how effectively Bitcoin has played this role, or as Journalist James Surowiecki quizzes in an article questioning Bitcoin’s use, whether Bitcoin is even playing this role at all.

Today, Bitcoin is worth over a trillion dollars, but are we achieving Satoshi Nakamoto’s dreams?

Following the 10th anniversary marking Bitcoin’s anonymous founder’s departure, Nick Saponaro, the co-founder and CIO of Divi, questioned the progression of the industry with a comment worth pondering over.

He approaches the topic of Bitcoin’s acceleration in the same critical manner that Surowiecki does, as he questioned the industry’s dependence on institutional money, and how that could take Bitcoin away from the path that Satoshi Nakamoto designed it to follow.

“You could argue that institutional investment flooding into the space, the Coinbase IPO, and big tech like PayPal and Venmo taking Crypto seriously is excellent news for an industry that’s been hungry for credibility for so long.” Saponaro asserted. “But they could also present serious risks to the decentralized mission and vision of the crypto movement.” He concludes.

Has Bitcoin lost its original purpose?

The risks that Saponaro associates with Bitcoin’s involvement with institutions go around the idea that the asset is being treated as a speculative one, whereas, its creator intended for it to at least challenge fiat currencies and act as a medium of exchange, not just a store of value. 

“The crypto industry is at the forefront of financial tech innovation, but if we continue to perpetuate the investment narrative and only focus on the price going up, we could easily miss the fact that we’ve given away this great gift that’s been given to us.” – Saponaro.

The sentiment widely shared by many Bitcoin proponents is that newbies accumulate Bitcoin in hopes that the price surges and they also enjoy a piece of the pie.

BTCUSD Chart By TradingView

Institutions also hoard Bitcoin and hope to never trade. It becomes easy to then forget what Nakamoto’s initial goal for Bitcoin was. James Surowiecki in his “the bitcoin dream is dead” article, explains why he believes that the institutional wave, coupled with many other similar factors, may have caused Bitcoin to lose its original purpose: “Like gold, Bitcoin is valuable to the extent that people think it’s valuable: You buy it because you think someone else will pay more for it in the future.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69888.27 (+1.45%)
Объем 24H $43.723b
Изменеия 24h: 2.28 %, 7d: -2.60 %
Cегодня L: $66916.68 - H: $70054.19
Капитализация $1382.256b Rank 1
Цена в час новости $ 58032 (20.43%)

satoshi bitcoin definition part included transacting process

Источник: zycrypto.com

satoshi bitcoin → Результатов: 126


Фото:

Multiple Grammy Award Winner, Pharrell Williams Wants To Perform A Song About Bitcoin For Satoshi

Pharrell Williams is in search of Satoshi Nakamoto to play him a song about Bitcoin he made in 2011. The “Happy” crooner claimed he made a song with  American DJ, Diplo. Satoshi’s identity has remained a mystery since the invention of Bitcoin with several persons suspected of being the real Satoshi. More entertainers are paying […]

2021-11-29 22:56


Фото:

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

The path to a cryptocurrency revolution might just run through a sleepy Austin, Texas industrial park, home to offices of Cody Wilson and his company, Defense Distributed in the United States. Parallels exist between downloadable files from a website, allowing users access to 3D printable firearms, and a permissionless, decentralized, censorship-resistant medium of exchange.

2018-8-14 04:50


Фото:

Campaign To Find The “Real” Satoshi Garners $70,000 USD In Crowdfunding

The true identity of Satoshi Nakamoto, the creator of Bitcoin, has been a heavily contested topic in the cryptocurrency community for the better part of a decade. Even though Satoshi has since faded into the shadows, with some classifying him as somewhat of a legend, many still seek to find out who he, she, or […] The post Campaign To Find The “Real” Satoshi Garners $70,000 USD In Crowdfunding appeared first on Ethereum World News.

2018-8-13 22:30


Фото:

Wendy McElroy: Free-Market Law Enforcement for Crypto

The Satoshi Revolution: A Revolution of Rising Expectations. Section 4: State Versus Society Chapter 9, Part 6 Government is a law factory. It passes laws in the same manner that another type of factory extrudes metal molding…But, whereas a factory which extrudes metal molding is providing a product which is useful to the citizens generally, […] The post Wendy McElroy: Free-Market Law Enforcement for Crypto appeared first on Bitcoin News.

2018-8-11 18:00


Bank For International Settlements (BIS) Continues Bashing Bitcoin As A Currency

The debate over the legitimacy of Bitcoin as a currency has persisted since the beginning of the creation of the coin. When the mysterious Satoshi Nakamoto rolled out the Bitcoin blockchain years ago, skeptics almost immediately began to argue that the currency would quickly peter out, losing value as quickly as it had gained notoriety. […]

2018-8-10 11:18


Фото:

There’s More to Cryptoassets than just Cryptocurrency

Since the creation and release of Bitcoin by Satoshi Nakamoto nearly a decade ago, quite many blockchain developers have been inspired by the success of the pioneer cryptoasset and have gone ahead to create several cryptoassets that fall under categories such as utility cryptoassets, security cryptoassets, and others we shall shed more light on shortly.

2018-8-6 14:00


Фото:

A Look at Stylometry: Can We Uncover Satoshi Through Literary Quirks?

Over the past few years, the number of people hunting for Satoshi Nakamoto has increased as people all over the world have been in search of the mysterious creator of Bitcoin. The cryptocurrency-community has also seen a few people come out of the woodwork recently, who have claimed to be Satoshi or have been accused […] The post A Look at Stylometry: Can We Uncover Satoshi Through Literary Quirks? appeared first on Bitcoin News.

2018-8-6 02:45


Фото:

Game Theory in Cryptoeconomics

Bitcoin’s pseudonymous creator(s) Satoshi Nakamoto utilized a range of scientific and economic models when he developed the world’s first digital currency. While many of these technologies already existed, it was Nakamoto’s combination of this knowledge – in conjunction with his developed distributed ledger technology (DLT) – that ushered in a new age of decentralized digital currencies.

2018-8-4 00:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.