Study Gives an Interesting Look at Shifting Bitcoin Narratives
The authors of this study say they’re mindful that the study relies greatly upon the researcher’s interpretation of older forum posts. Carter says they’re open to another metric if someone would like to suggest them for additional analysis.
Carter and Hasufly’s research breaks Bitcoin narratives down into seven sections including: “The e-cash proof of concept (the very first significant narrative), cheap p2p payments network, censorship-resistant digital gold, anonymous and private darknet money, reserve money for its cryptocurrency business, programmable shared database, and an uncorrelated financial advantage. ” Following analyzing each story the team produced a graph that shows each narrative’s prevalence over time.
“Possibly the most enduring source of conflict within the Bitcoin community derives from incompatible fantasies of exactly everything Bitcoin is and ought to become,” clarifies Carter’s study.
If you’ve become cryptocurrencies for a long time you might have noticed the neighborhood narratives and visions for Bitcoin have changed through the years. For instance, back in the first days, Bitcoin technologies was designed to eliminate the current banking cartels and eliminate money from the state’s electricity too. That ’s exactly what the ancient bitcoiners and cypherpunks said in the time. But, Bitcoin narratives have developed and plenty of Bitcoin proponents now want the central bank’s approval and think governments regulating the use of cryptocurrencies will create them even a ‘legitimate’ form of tender. In addition, some people today believe Bitcoin ought to be a store of value much like gold, while others believe Bitcoin was supposed to be a rapid and cheap peer-to-peer cash system.
“& We ’re not positing our analysis because the complete truth. Instead, we would like to nudge Bitcoiners away from absolutism and admit that important narratives inside the Bitcoin community have changed over time — And ’so okay — it’s appropriate to modify your head in response to new info,” Carter concludes. Check out Carter’s complete analysis called “Visions of Bitcoin” here on Medium.
After researching this subject, Nic Carter printed a well-documented study of this ever-changing narratives stemming from individuals and teams who like to tether their own visions into the Bitcoin protocol. Carter and his partner Hasufly used data derived from discussions occurring on the discussion Bitcointalk.org throughout the previous decade.