Topic: .. - page 2. (Read 3068 times)

True. Good luck continuing that trend!

Everybody here is a bull in the wrong run. It makes sense to be a short time bear when the value is going down to make profits.

$1200 to $300, being a bear means 4 times profit.

What planet have you come from?

Do you mean that 3 pools at 33% each is not centralization?

Don't know exactly for first two problems, but it seems 3rd one is not a problem anymore and it won't be ever. Just look at the pie chart now. No pool is even close to 50%. BTW, for many miners out there, electricity is not a factor.

No, of course. I don't support such bullshit.

Ok, I get this. For the note, I own 0 (zero) XRP.

And where is it? https://blockchain.info/charts/blocks-size



Absolutely not an issue? Why do you then make an excuse in the next statement?



It's quite naive to think that some of the slices are not controlled by the same entity.



99% of my posts is trolling, I use in the opposite cases.

Oh boy, not another goofball supporting corporate proprietary bullshit. Long live mega corporations! Am I right?  LOL

Redhawk is on ignore

While I normally enjoy trolling this section, I'll give you a serious response:

Its not ready for prime time.
Pointing to the Wiki and going "SEE? THEY KNOW ABOUT THESE PROBLEMS THEREFORE ITS NOT A PROBLEM" is something I see too many people do. (i.e. My water main is cracked and leaking, but I know about it therefore there's no problem). You need to get things implemented, tested, and actually running first such as invertible bloom tables. Scalability is also a major issue, 7TPS isn't going to cut it, and raising the block size limit isn't a real long term fix, Gavin himself has said such. Solutions are coming, but they need to be implemented first before you can start crowing about "oh well its not a problem". Time will tell if these get solved in a reliable manner. Changes to Bitcoin come very slowly, which isn't a bad thing. I'm not saying its broken either, but it does need improvements.

The government(s) will never let it interfere with them on a national/global level.
People seem to think that "the government can't ban Bitcoin!". Technically, you'd be correct. However If the government bans Bitcoin, it will be relegated to the shadows. No more Bitpay/Coinbase, and you can bet places like Microsoft will drop it quickly. Wall Street won't go near it either and the Winklevoss ETF is out of the question. Its main use would then be for private personal money transfers and storage. It may still retain a high price, but it won't be used nearly as much as it would due to lack of accepting merchants. There are a LOT of businesses using Coinbase or BitPay to process their BTC transactions, and if it was suddenly illegal for them to operate, a lot of these places would no longer accept Bitcoin. ISPs will most likely try and comply with the new government ban by blocking Bitcoind traffic on the default port, much in the same way they send you nasty letters if you torrent certain items.  This isn't just targeted at the US government, many others could do it too.

People are stupid. A lot of them should never "be their own bank"
I'm going to skip over the laundry list of "OH GOD LOST MY BITCOINS" threads on this forum and Reddit because we both know how plentiful they are. A lot of people don't want the responsibility of being in charge of all of their money like some here. People also aren't going to trust putting things like $50,000 worth of money somewhere you could lose it all because someone formats your hard drive. Perhaps a Bitcoin Insurance would change this, sort of like how the FDIC works for fiat.

Consumer Incentives
As been mentioned before, as a consumer I currently see no reason to use BTC over my credit card. I get cash back and buyer protection. Why would I buy BTC at a premium via LocalBitcoins, or pay fees via CoinBase? I'm introducing more middle men and fees that I don't need. There needs to be a service which allows consumers to use BTC in the same way a credit card works.

There are wonderful things about it and there are problems that may impact scalability. People are uncertain whether those problems will be resolved which = risk. Risk makes the price go down short-term, but risk is also where profits can emanate from (if you are right and most others are wrong, you win extra). The same as any market. So, the problems are, indeed, an opportunity. They, however, may also be the undoing. Remains to be seen whether solutions are commercially viable or, if as Wanderer mentioned, people move on to something that doesn't have those problems (albeit may have a different basket of problems unto itself). We'll see. All views are viable on that matter. To say that you are crazy for being bearish though is to say that there is no profit opportunity at all -- by definition if you have rewards without risk then you've found an arbitrage opportunity and those don't tend to linger around very long.

So, a whole bunch of we'll see. Probably a binary outcome -- really good or replaced.

Sorry, but you seem to forgot tag.

Oh, yet another zealot. Your previous reply made me think that I had met an open-minded person...

But some of the problems are intrinsic to how BTC and the Blockchain work (for example the reliance on Proof-of-Work which needs the system to constantly and forever pay the miners with either big inflation or higher transaction fees, among many others), and for some of them we don't even have an idea on how to solve them yet...


Why adopt NOW something that is CURRENTLY broken/doesn't really have a plan for the long term?

Having problems that make BTC intrinsically (by design) not viable long term is an opportunity? 

Right, this is why competitors like Ripple become more and more popular. Being a distributed but centralized solution Ripple is still not far from Bitcoin on the Decentralization axis.

Big banks and the government worry me. But the fact that bitcoin has made it this far in a few short years is remarkable, hard to imagine where it could be in 10years+. Glad I'm here now for better or worse