Alex Metzger Alex Metzger 28.10.2021

"Bitcoin: Still in its Early Stage" – according to our community member

At one end, we see a good growth of Bitcoin all across the world. It has created a good buzz around the world. Thanks to the soaring price, which has made Bitcoin the number one digital currency for all. Many who fail to afford it feel that they have missed investing in it or thought of it late. It then led their reach to the low-value and priced coins – Altcoins. It may not have a longer value in the long term. They feel that altcoins that are now available less than a dollar value will soon become the next Bitcoin. However, the fact is, there is only one bitcoin; hence there is nothing called the next bitcoin. Bitcoin came as a revolutionary thing that came up like a historical accident, and it is a type of discovery of fire for many of our elders. To get the actual context, we need to talk about life before the internet.

Also, you can even find such issues on sites like Bitcoin Profit App. In the early nineties, we could see only a limited number of people using emails and other platforms. The reason was the unavailability of the internet. No one had a clue as to what would come next. No one imagined how life would change with the advent of social networking sites like Facebook and Twitter. Also, no one thought that the internet would be available on smartphones. Amazon came in 1994 like a famous bookstore never thought of becoming the most extensive online store as it is today. Even in 2000, the internet seemed in its early stage. The limited availability of the internet has not become so popular. Hence when e-commerce came in the form of Dot.Com, it fell flat on the ground getting nowhere.  So, if you look at these days, Bitcoin still stands in a similar position as we have seen on the internet in the early nineties. 

So, where we stand with Bitcoin, it is still in its nascent stage. It is primarily because many people are still not aware of the development taking place around Bitcoin as we talk. One of the critical projects that have developed Bitcoin is the technology called Blockchain. It is a second layer, and it is coming up with the lightning network, and it has around 14K nodes and gives the payment of 68K payment channels that have their presence in more than six continents. In the third layer-based solution, we see decentralized apps developed on top of any Lightning Network. The key objective is to develop a P2P internet. But, that’s not all; we have a subject and the control in censorship that comes up with a Big Tech. In this way, we see the original idea of the web in the form of Bitcoin.

Firstly, this is not a subject of censorship and control. You need to know the original ideas and ethos. With the help of using infrastructure, different groups have not looked at the first glimpse of different projects. It helps people make different calls at lightning speed and even monetize different services without any bank account with the help of lightning. As far as Bitcoin is concerned, we can call this coin the matter of early-stage evolution. We still do not know what is coming ahead. Layer 1 from Bitcoin is the settlement layer, proving that many more things about the value remain in-store. The Lightning Network comes as the vital medium of exchange. We now have seen the Layer 3 emergence, and it has acted like decentralized apps. All these companies remain in the future. It can further make Bitcoin remain a scarce thing in terms of functionality.

The day-to-day price movement seen with a single Bitcoin comes as a noise. It barely matters about the price you plan to buy. You do not have any word on it, and the group deviations and individuals remain smarter and wealthier when compared to the current costs of coins like a blip. With the help of using the model of Stock Flow coming with Plan B, we go with 1000K per coin. Worrying about how things come for trade, we can worry about Apple and Amazon’s share price in the late 2000s.