Bitcoin has yet again hit another all-time high today of $17,645.89 on the Coindesk Price Index.
Yet, while much of the traditional financial world are piling into bitcoin, the direction of bitcoin has perhaps never been so unsure.
I've posited my conspiracy theory of how Blockstream and others may have surreptitiously hijacked bitcoin. But, whether that is the case or not, one thing is absolutely for sure; Bitcoin has changed dramatically in the last year from its initial intention and objectives as outlined by Satoshi's white paper.
The title of the white paper itself, after all, was "Bitcoin: A Peer-to-Peer Electronic Cash System."
And, now, according to many of the Bitcoin Core developers, bitcoin's objective is no longer to be an electronic cash system.
This is a massive change that seems to have gone unnoticed or unchallenged by most. Yet, it could potentially mean the death of bitcoin.
Many of bitcoin's detractors like to point out that bitcoin has no intrinsic value. Of course, nothing has intrinsic value, so they are making a non-argument from the get-go.
But, when pointing out why bitcoin has subjective value, some of the main points were: