General discussion thread, October 2023
General discussion thread, October 2023
I'm sick of coming here and not having somewhere to talk so here's a thread for everyone.
I like Bitcoin, and u?
Historical Bitcoin prices for today, October 1st:
2023 - $27,153
2022 - $19,312
2021 - $48,146
2020 - $10,621
2019 - $8,303
2018 - $6,608
2017 - $4,403
2016 - $613
2015 - $237
2014 - $383
2013 - $140
2012 - $12.4
2011 - $5.
2010 - $0.10
Bitcoin's average daily price from 07/18/2010 to 10/01/2023 is $9,609.27.
Thanks /u/escodelrio
It's cool, but not quite what I'm looking for in terms of future currency, I prefer the privacy of xmr and the green footprint of something like pascal, but Bitcoin is still interesting to follow just for the frontrunner aspect.
How stable do you think the current price is and why?
Bitcoin has a better potential of being accepted at more of a grand scale (via Lightning) globally. Bitcoin being energy intensive gets blown out of proportion (more green than people think), and it is extremely decentralised with a fixed supply. Bitcoin being transparent isn't a bad thing, it's a good thing which helps with regulatory compliance.
I would not store my wealth in Monero, but I do think the privacy aspect is cool.
I agree that bitcoin has a better potential of being accepted, but only because it can be regulated and tracked down to an individual retroactively and forevermore.
Being unable to purchase anything discreetly leaves a bad taste in my mouth, any vendor knows that that is your wallet and can track your purchases from then on. Anyone who sees your QR code and catches it when you send a transaction can track your wallet forever, and of course any authorities will be able to track you. I do think because of this, they're going to push Bitcoin or similarly non-fungible coin, but that by no means makes it the best currency.
I don't think Bitcoin is more agreeing than people think, It uses more energy than some countries and that is only increasing(Bitcoin consumes almost 1% of all electricity produced on Earth and it's still going up). There's no plans on ameliorating that problem at all, like other coins that are actively working on sustainable forms of currency that have all of the benefits of Bitcoin without being completely public and unsustainable.
Bitcoin has a fixed supply, but many other less energy intensive, more private coins with much faster transaction speeds are finite as well.
And decentralization, bitcoin has about it as bad as any coin out there. Practically, a coin that favors heavy capital invested in completing its transactions, and rewarding capital invested, necessarily means that it will become more centralized and has become more centralized as Bitcoin has developed, long as the transactions are rewarded the way they are, the coin will continue to centralize. There are very few massive companies that make the farming equipment, which also have a large impact on who can buy the equipment and wear and for how much,, furthering centralization of bitcoin. Then there are mining pools, just four of the largest pools make up well over 50% of all mining in the world, so if they teamed up they could rewrite the blockchain if they wanted to.
It's nice that Bitcoin sort of introduced everybody to the idea of cryptocurrency, but there are so many better options than Bitcoin itself, with all of its idealized advantages and none of its practical disadvantages, if we're considering the next form of currency.
I think Bitcoin has become a relatively static commodity, a measure of wealth similar to good powder, but it's impossible to use it as a functional currency as it is now and as it was originally designed.