Will Bitcoin survive this crash?

Today, after listening to the news about the economic and crypto market situation, I have mixed thoughts about the usefulness of Bitcoin. So, I (untimely) took a shower to organize my thoughts and convictions to write this article.

It is customary to take a cold shower to clear the mind.

To be honest, I'm like cats when it comes to cold water.

In fact, my wife lectures me on the negative effect of the steaming hot shower.

Yes, the cold of the water wakes you up. But the heat soothes (as long as you don't burn on contact).

Of course, the latter reminds me of the modern fable of the boiled frog.

I hope my ideas are cooked just right!

So I wonder,

Will Bitcoin be a failed and obsolete project?

It's a recurring question every time the market crashes since the launch of Bitcoin in 2009.

At every industry downturn, so do the doomsayers from interested parties jump to decree the death of the crypto that started the unfinished revolution.

How many times did they leave Bitcoin for dead?

Even (if my memory serves me correctly), Galvin Andresen, who received leadership from Satoshi Nakamoto before disappearing, once wrote after succumbing to Blockstream that bitcoin is a failed project.

In this regard, some recommend returning to the old gold standard, arguing that bitcoin is costly, inefficient, and harmful to the planet. Moreover, it has no intrinsic use to justify it.

Fortunately, I found excellent authors in the read.cash community who showed me (through well-founded articles) a different perspective on the narrative that floods the crypto-verse media.

However, one must always be on guard to avoid becoming a maximalist in any project.

I believe in bitcoin as a mass-use currency.

I wonder then, will bitcoin core be a currency for mass use?

Yes, in the crypto-verse, not everything that is said is true.

I am not saying that all projects are fraudulent: No!

Although, just like outside the crypto-verse, some crooks are eager to scam you.

Perhaps, Bitcoin Core (BTC) is one of these.

Giving grounds for distrust among the masses.

The narrative that BTC was a store of value or digital gold falls apart on its own in crises like the current one.

Sure, let's give them the benefit of the doubt.

I will naively think that they are unaware that since 2017 BTC ceased to be Bitcoin.

So how do you blame people for the disenchantment with Bitcoin?

There is so much plot in its short story, like writing a mystery novel full of intrigue. The problem is that the ending has yet to be written, and I fear it will affect us all.

In my opinion, the purpose of Bitcoin will prevail over any coming crisis.

Just keep in mind that Bitcoin is not BTC.

However, as long as BTC is serviceable for the purpose of the creator of the Orwellian-like implicit newspeak will come out on top. So for sure, it will not become extinct now in one of the biggest crises of modernity.

In any case, one will need to identify the real money for the digital age that is incorporated into society.

The issue is crucial if one wants to enjoy some freedom and security.

I do not yet see when the crises will disappear. In the meantime, one must do one's best to adapt and survive.

So it has always been, and who knows when it will end?

An original article by @Jnavedan

The thumbnail by Az1975 on Pixabay

Cover by Satheesh Sankaran on Pixabay 

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