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bitcoin-MVP.md

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posted as a response to some thing or another... can't remember if it was Yammer or what

Bitcoin doesn't have a problem. The "problems" ascribed to it are the features and goals and aspirations that people have tried to attach to Bitcoin, saying "it should do that".

Think of it in terms of Minimal Viable Product -- that the Bitcoin blockchain exists, that it's globally accessible and perpetuated by purely volunteer effort -- that's a huge raging success.

Satoshi never said that it should be expected to replace existing consumer payment systems, only that it could be an alternative.

It certainly was never a goal to achieve instantaneous transactions (putting it on par with credit cards); the goal was a globally stable/consistent blockchain.

Satoshi never said that it should be a stronger store of value than national currencies, only that it could be an alternative, and market demand/acceptance would determine its strength.

As long as Bitcoin blockchain exists and is globally accessible, it has achieved it's vision. Everything above and beyond that are simply VC problems (and as a wise man once said, Mo Money Mo Problems).