Could Bitcoin go the way of TOR? \ stacker news ~bitcoin

pull down to refresh

116 sats \ 6 comments \ @SimpleStacker 19 Apr 2023 bitcoin

I'm not too familiar with the ins and outs of TOR, so please correct me if anything I say is wrong.

I firmly believe that Bitcoin is a pathbreaking technology that allows for a truly scarce digital asset with many applications, like frictionless micropayments and open source, trustless financial services. Because of that, I believe Bitcoin will be around for a long time and is in no danger of "dying" as critics so often proclaim.

But I started wondering whether Bitcoin's future might be more akin to TOR than a truly revolutionizing technology. Like if Bitcoin became a niche option for some users with specific needs, but never really sees mainstream adoption because the convenience/privacy tradeoff for MOST people leans towards convenience. Though in Bitcoin's case, it's not so much a convenience/privacy tradeoff as it is a convenience/sovereignty tradeoff.

What do you all think? Do you think Bitcoin will move beyond a niche application and into the mainstream?

view all related items

38 sats \ 0 replies \ @sudonaka 19 Apr 2023

In 1970, science magazines estimated that in the year 2000, people would only be working 2 days per week. What happened?

The value of 1x US dollar in 1963 Is equal to 9.86x US dollar in 2023

We work the same hours with better and better tools, but the tyrants keep us chasing the carrot on a stick by devaluing the unit of account.

The primary function of Bitcoin is to remove the debt slavery fiat control system with undeniable natural incentive for the tyrants and people alike.

Bitcoin already has been “like TOR” that was the first 10 years-

Bitcoin will become like “the dollar” it will just be “the money”

Most will have no idea how it works, they will not need to. Custody solutions will be driven by competition and the entire system will be rebuilt on a bedrock of digital cash. Indestructible, easily auditable, accessible, incentivizing wealth and innovation.

Prices of things will go down over time.

This is not an “optional” or uncertain thing. The Bitcoin money is the hardest money every created. Bitcoin will burn out the parasitic calamity of fiat money slavery from our species.

27 sats \ 1 reply \ @kepford 19 Apr 2023

Short answer is yes I think it will go mainstream.

Now, the longer answer is I don't think the bitcoin practiced by bitcoiners now will be mainstream. It will be more common but I think plenty of people will use custodians and opt for convenience over sovereignty. Why? Because people are slow to learn lessons. Now, if we have a really rough time where people lose everything and they learn the value of sovereignty and risk of trusted 3rd parties then that might change. The bottom line for me is it doesn't matter. What does matter is that we have to ability to save our life force in an incorruptible medium that we can sovereignly hold. There will always be foolish and lazy people. Don't be one of them.

Edit: Actually, I often wonder how many "bitcoiners" actually hold their own keys. There are a lot of phonies out there. Talk a big game.

0 sats \ 0 replies \ @sudonaka 19 Apr 2023

Totally correct but I argue they already have the problem of not holding keys as their homes get seized from them like in 2008.

The system is the problem, not your standard normal person watching sports and trying to enjoy life.

We will have the custody “banks” and everything.

Difference is big “banks” and “governments” WILL BE AUDITABLE ON CHAIN.

This makes it very easy for people like us to warn the normies which “banks” are trusted or not.