At the beginning when 10 000 bitcoins were used to buy two pizzas, the digital currency was a truly decentralized peer-to-peer network that worked immediately around the world.
Today, the price has risen almost a million times, and the network is no longer as functional as it was in those days.
Bitcoin is still struggling with its identity because many want to revolutionize the money, but many want to make it quicker than ever before.
The single dollar invested in Bitcoin at the beginning would be worth more than $ 3 million today.
Bitcoin is becoming less and less paying network, and instead evolving into digital gold ... The failure of SegWit2x, which was aimed at reducing transaction costs and improving the speed of acknowledgment, failed for many reasons. One thing is clear: there is no clear reason to increase Bitcoin's capacity ...
The Bitcoin network has become less useful as a payment network. The currency has now transformed into a completely new kind of asset that investors can enjoy.
Progress has been made on increasing the level of investment through the announcement of futures contracts and the support of many Wall Street investors.
So, if Bitcoin has made good progress toward digital gold, leaving behind the payment system, what does this mean for the so-called "future of money"? There is still a chance that digital gold will work as a payment method.
It is good that Bitcoin performs its basic function, even if this function is different from what was planned years ago. If Bitcoin becomes a solid, unfounded and reliable asset, then its payment network can be built on this base.
The most frequently cited example of how a better payment system can come from Bitcoin is updating the Lightning Network. This significantly increases the situation when a network of buffered transactions is transmitted between users rather than in chain transactions.
The payment system requires stable liquidity. More liquid can only help regulate things like cryptanalysts, because even Bitcoin variability has decreased as more money is released ...
Great post, nicely written!