Topic: Bitcoin can resist?? (Read 688 times)

Many people are facing too long transactions, taking too much time to complete, not 10-30 minutes or even some hours, but more than 24, 36 hours... This always happen when there are many people doing their transactions at same time.

So, as you can think, when a lot of people around the world start using BTCs the fee will be too high if you want to have your transaction completed, if you pay a low fee probably you won't have your transaction completed. It can make some people lose interest in Bitcoins...

My uses and needs might be similar to yours.  However; many argue and I think correctly that speed is a big issue for real mainstream use to take off in a big fashion.  Checking out of a retail store and being at a terminal where a transaction could "mirror" the speed and ease of a credit card sale.  That is what needs to be in place for what I consider mainstream use.  Next line down would be the speed of a bank transaction.  Go in somewhere and move coins to an account paying a bill or similar and be gone in say two minutes tops and should be quicker.

I don't know what you understand by speed but for me any transaction that is done during 10-30 minutes is fast enough, faster than any other payment methods and can be withdrawn with the fastest speed through any exchange.

I too agree that Bitcoin can resist until the end of time without a single problem in it's way.

But Bitcoin needs to improve a bit to survive and rise now... As more people start joining Bitcoin and are doing simultaneously transactions the speed is decreasing a lot at a point many transaction won't be completed or will take too much time to be completed, it can make the investors lose the interest, taking more time to rise Bitcoin among the world population.

Agree there is no point on arguing what is more often used in illegal activities.
That doesnt matter at all, bitcoin can resist EVERYTHING. Im 100% sure of that. Programmers can do anything and goverments won't win ever.

Because bitcoin can be maintanted on offshore land, where u can't regulate it.

Yes it can resist because bitcoin is completely digital currency not related to any specific country. Now a days bitcoin is comparable with gold so there might be chances very soon government will acquire bitcoin and they will legalize like gold.

You also need to understand that governments wants to control their citizens and the best way to do that, would be to control their money. Bitcoin is not a tool that allows for governments to control people, so the natural reaction from most of the countries, would be to ban or to restrict their citizens to use this technology.

Some countries have seen the benefits of this technology and decided to rather concentrate on the positive things that can be done with this technology under certain regulations and laws provided by them. So they would rather regulate it, than simply ban it's use.

You would find that the countries that ban Bitcoin use are mostly run by dictatorship style governments. {because they want full control over their citizens}

Gold has decentralized nature in some points as well but it is taxable and regulable so bitcoin can be treated like that.

Any currency can be used illegal purposes. For instance, there are many offshore accounts to do money laundering.

Bitcoin is a cryptographic currency and a peer-to-peer payment system invented by Satoshi Nakamoto, which announces the invention in 2008 and publishes the open-source software in 2009.
The use of Bitcoin has several advantages.
Freedom of payment: With Bitcoin it is possible to be able to send and receive money anywhere in the world, at any time regardless of holidays, almost instantaneous: transactions are very fast A few seconds to a few hours without limitation, independent of monetary authorities' monetary policy policies (EDF, ECB).
After some years of the creation of Bitcoin, there are countries that have banned the use of this virtual currency.
- On 29 July 2013, Thailand became the first country to prohibit the use of Bitcoin on its territory after a decision by the Central Bank.
- On December 5, 2013, the Chinese central bank forbids local banks any transaction in Bitcoin, resulting in the start of a crash on the value of virtual currency. BTC China, the world's leading trading platform in Bitcoin, bans users of new Yuan deposits on their account "following new government regulations". On January 8, 2014, Chinese group Ali Baba banned payment in Bitcoin (following the new Chinese regulations).
- On January 15, 2014, the French Senate holds a hearing on issues related to the development of Bitcoin-type virtual currencies.
- On 6 February 2014, Russia declares the currency illegal on its territory, arguing that the only official currency in Russia is the ruble and that no other currency can legally be used in the country.
- On February 26, 2014, US Senator Joe Manchin called for a ban on Bitcoin in the United States, because of its uncontrolled volatility and the risk of its being used for illegal purposes, including money laundering. For the time being, the United States considers that virtual currencies such as Bitcoin have no legal value, but as assets they are liable to tax.
Unlike physical currencies such as the euro or the dollar, the Bitcoin is not governed by any central bank or government and therefore can not be subject to the temptation of "printing money", argue its supporters. But critics point to its extreme volatility, denouncing the creation of a speculative bubble.
This video explains:
https://www.youtube.com/watch?v=oSqYfmhtaR4
 https://www.youtube.com/watch?v=oSqYfmhtaR4
I want to know your ideas, is what I engage and I buy a mining rig? I hesitate a can because because of all that I saw in this video, it is true that the bitcoin has several advantages, but there are several countries want to prohibit it? I am waiting for your opinions and thank you.