Bitcoin is not the currency of the people and likely never will be - page 4.

ricardobs

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Quote from: ?? on ??

Quote from: ausbit on May 10, 2016, 07:03:44 AM

Quote from: worhiper_-_ on May 08, 2016, 01:07:42 AM

The number of bitcoins owned by the richest holders is increasing as bitcoin grows older. Adoption could very well be a sham, because as a matter of fact the biggest holders keep accumulating more bitcoins, no matter how much bitcoin gets trader every day, this trend doesn't seem to be declining.

-snip-

4.5m bitcoins are held by the top 500 richest addresses
15.5m bitcoins have been mined so far

These 500 richest people are loving bitcoin, or it is also the possibility that these owners of that addresses are the biggest traders or exchanges of bitcoin and so their addresses gets the more bitcoins then any other.

and maybe those 500 some of those richest people are a person who loves to avoid taxes, who know? but i'm sure that few of those are early adopters who become millionaire because of buying so many bitcoin when prices still low

Yeah but they shouldn't keep collecting bitcoins and doing nothing with it. If they trade, it would not harm the supply. As someone said, I doubt the price may rise if the supply reduces and it would harm those wo want to sell their bitcoins as there may be less buyers by then. There should always be a balance as well.

Tanic

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Quote from: Rubberduckie on May 08, 2016, 02:25:53 AM

just like with any currency of course the richest own the most.. its
a currency of the people because governments dont own it and print it imo

I am totally agree with that. Governments don't own it and don't print it, but thie situation in the world is also affects on the price of bitcoin same as on the price of any other currency.

btcltccoins

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I think it doesn't matter, because if you see most of the people are using the bitcoin for holding, so if they hold it for a long time or short time, so it doesn't take any matter. i think that's all are good for bitcoins, because bitcoin will remain in future. and that's really good for us.

whored

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Quote from: funkenstein on May 10, 2016, 11:11:24 AM

Quote from: whored on May 10, 2016, 11:05:37 AM

Why would anyone chose to get paid in BTC, which they can't spend in 99.9% of the places they spend fiat? Or are you talking about that make-believe land of Equestria, where pastel ponies are happy to "transact" in Bits?

Because they're not a criminal and don't wish to support the counterfeiters? Because they don't wish their assets to be devalued? Because $450 is more that $1 ? It's called Earth and you will find plenty of people are willing to trade things for other things here

You can negotiate the relevant quantities. Equestria is a made-up place where people only accept as valuable what a small group of teenagers say is valuable rather than looking with their eyes at marketplace activity.

That makes zero sense.

Ultrafinery

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Quote from: funkenstein on May 10, 2016, 11:07:31 AM

Quote from: Ultrafinery on May 10, 2016, 11:00:36 AM

Quote from: funkenstein on May 10, 2016, 10:57:20 AM

Quote from: Ultrafinery on May 10, 2016, 10:18:27 AM

Quote from: funkenstein on May 10, 2016, 09:54:10 AM

By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.

No, by "all people" I mean "all people," as in everyone in the world, including you, Wild One.

Hehe,
I don't claim to be in the issuing class. Just a lowly dwarf. But if you think the queen of england, the lords, cayman, monaco, zug owners, sultan of blah blah etc. etc. take M0 fiat notes out of their pocket from time to time if they need to buy a snack, I'm not sure what you're smoking.

I don't "take M0 fiat notes" either, do most of my banking online. Those digital bleeps and bloops are fiat too.
Smoking Camel Filters, if that matters.

American spirits here

So do you think the Queen of England, Saudi Princes, Sultans, or USA money issuers and massive landowners log into consumer banking accounts from time to time? M1 is for us EBT card users, not for those who can add zeros to M1 balances at will.

I frankly have no idea how the Queen of England handles her finances. I'm sure she has many assistants (slaves, in your lingo) handling her finances.
One thing I'm sure of: She don't "store her valuez" in bitscoins. because that's just plumb stupid.

funkenstein

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Khazad ai-menu!

Quote from: whored on May 10, 2016, 11:05:37 AM

Why would anyone chose to get paid in BTC, which they can't spend in 99.9% of the places they spend fiat? Or are you talking about that make-believe land of Equestria, where pastel ponies are happy to "transact" in Bits?

Because they're not a criminal and don't wish to support the counterfeiters? Because they don't wish their assets to be devalued? Because $450 is more that $1 ? It's called Earth and you will find plenty of people are willing to trade things for other things here

You can negotiate the relevant quantities. Equestria is a made-up place where people only accept as valuable what a small group of teenagers say is valuable rather than looking with their eyes at marketplace activity.

NewInCryptoCurrency

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It will never be the currency of the people but it is the currency of some people and that is good enough. Bitcoin is never going to be on the level of the currencies of the countries.
But Bitcoin does not need to be that, it is good as the best online currency.

funkenstein

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Khazad ai-menu!

Quote from: Ultrafinery on May 10, 2016, 11:00:36 AM

Quote from: funkenstein on May 10, 2016, 10:57:20 AM

Quote from: Ultrafinery on May 10, 2016, 10:18:27 AM

Quote from: funkenstein on May 10, 2016, 09:54:10 AM

By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.

No, by "all people" I mean "all people," as in everyone in the world, including you, Wild One.

Hehe,
I don't claim to be in the issuing class. Just a lowly dwarf. But if you think the queen of england, the lords, cayman, monaco, zug owners, sultan of blah blah etc. etc. take M0 fiat notes out of their pocket from time to time if they need to buy a snack, I'm not sure what you're smoking.

I don't "take M0 fiat notes" either, do most of my banking online. Those digital bleeps and bloops are fiat too.
Smoking Camel Filters, if that matters.

American spirits here

So do you think the Queen of England, Saudi Princes, Sultans, or USA money issuers and massive landowners log into consumer banking accounts from time to time? M1 is for us EBT card users, not for those who can add zeros to M1 balances at will.

whored

newbie

Activity: 42

Merit: 0

Quote from: funkenstein on May 10, 2016, 11:00:10 AM

Quote from: whored on May 10, 2016, 10:08:38 AM

Quote from: funkenstein on May 10, 2016, 09:58:44 AM

Quote from: tampazeus on May 10, 2016, 09:30:54 AM

Fiat will always be the first choice of people and there is no doubt about that, but people who are tech friendly and loves to spend time online will prefer to use bitcoin.

I'll bite, sure. What "people" would choose a privately issued scamcoin as their first choice of exchange commodity?

The people who get paid in it and buy things with it. Because stores take it.
The people that don't buy digital tokens in hopes of becoming fabulously wealthy by sitting on their ass, those people.

No, I asked who would choose to get paid in it. Your answer "the people that chose to get paid in it" is hardly very illuminating.

Why would anyone chose to get paid in BTC, which they can't spend in 99.9% of the places they spend fiat? Or are you talking about that make-believe land of Equestria, where pastel ponies are happy to "transact" in Bits?

Ultrafinery

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Quote from: funkenstein on May 10, 2016, 10:57:20 AM

Quote from: Ultrafinery on May 10, 2016, 10:18:27 AM

Quote from: funkenstein on May 10, 2016, 09:54:10 AM

By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.

No, by "all people" I mean "all people," as in everyone in the world, including you, Wild One.

Hehe,
I don't claim to be in the issuing class. Just a lowly dwarf. But if you think the queen of england, the lords, cayman, monaco, zug owners, sultan of blah blah etc. etc. take M0 fiat notes out of their pocket from time to time if they need to buy a snack, I'm not sure what you're smoking.

I don't "take M0 fiat notes" either, do most of my banking online. Those digital bleeps and bloops are fiat too.
Smoking Camel Filters, if that matters.

funkenstein

legendary

Activity: 1066

Merit: 1050

Khazad ai-menu!

Quote from: whored on May 10, 2016, 10:08:38 AM

Quote from: funkenstein on May 10, 2016, 09:58:44 AM

Quote from: tampazeus on May 10, 2016, 09:30:54 AM

Fiat will always be the first choice of people and there is no doubt about that, but people who are tech friendly and loves to spend time online will prefer to use bitcoin.

I'll bite, sure. What "people" would choose a privately issued scamcoin as their first choice of exchange commodity?

The people who get paid in it and buy things with it. Because stores take it.
The people that don't buy digital tokens in hopes of becoming fabulously wealthy by sitting on their ass, those people.

No, I asked who would choose to get paid in it. Your answer "the people that chose to get paid in it" is hardly very illuminating.

"Stores take it" is also hardly illuminating. People accept whatever they can in trade, we understand that

the question was who would prefer private counterfeitable coins over public verifiable ones.

addicto

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I think it will take some time to become normal like fiat, people are getting more information about this innovation and showing very positive interest there.

funkenstein

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Khazad ai-menu!

Quote from: Ultrafinery on May 10, 2016, 10:18:27 AM

Quote from: funkenstein on May 10, 2016, 09:54:10 AM

By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.

No, by "all people" I mean "all people," as in everyone in the world, including you, Wild One.

Hehe,
I don't claim to be in the issuing class. Just a lowly dwarf. But if you think the queen of england, the lords, cayman, monaco, zug owners, sultan of blah blah etc. etc. take M0 fiat notes out of their pocket from time to time if they need to buy a snack, I'm not sure what you're smoking.

bitlancr

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I think it can be the currency of it all but most likely it will not indeed because other currency's will also be in the future fully digital.

amiryaqot

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Well from my decision most of the people taking BTCitcoin as secure investment and so many people have very strong believe in it and that is the reason it getting more higher value as time passing, in near future when it will go to mainstream than it will be much hard for a common person to get 1 BTCitcoin.

mark coins

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People who don't know what bitcoin is or don't have faith in it will never accept it as a currency but those who are using it at a moment also feels that it is the best investment to make.

Ultrafinery

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Quote from: Javier007 on May 10, 2016, 10:17:05 AM

what is the source of this chart?

anyways the information can not be reliable when it comes to bitcoin. there is an anonymity with bitcoin and also the spread between bitcoin addresses that you can never make such conclusions and charts. nobody is keeping coins in one wallet so you can't find the real whales.

You don't understand. Those are the top 500 addresses, is fact verifiable on teh blogchain. Yes, rich people have more than one addy. That only makes Bitcoin wealth more concentrated, not less.

Ultrafinery

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Quote from: funkenstein on May 10, 2016, 09:54:10 AM

By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.

No, by "all people" I mean "all people," as in everyone in the world, including you, Wild One.

Javier007

newbie

Activity: 56

Merit: 0

what is the source of this chart?

anyways the information can not be reliable when it comes to bitcoin. there is an anonymity with bitcoin and also the spread between bitcoin addresses that you can never make such conclusions and charts. nobody is keeping coins in one wallet so you can't find the real whales.

also, these top addresses are mostly mining pools, exchangers, services, .... that hold a lot of bitcoin because of the nature of their business.

whored

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Quote from: funkenstein on May 10, 2016, 09:58:44 AM

Quote from: tampazeus on May 10, 2016, 09:30:54 AM

Fiat will always be the first choice of people and there is no doubt about that, but people who are tech friendly and loves to spend time online will prefer to use bitcoin.

I'll bite, sure. What "people" would choose a privately issued scamcoin as their first choice of exchange commodity?

The people who get paid in it and buy things with it. Because stores take it.
The people that don't buy digital tokens in hopes of becoming fabulously wealthy by sitting on their ass, those people.

Topic: Bitcoin is not the currency of the people and likely never will be - page 4. (Read 6318 times)