Topic: Bitcoin is not the currency of the people and likely never will be - page 5. (Read 6393 times)
May 10, 2016, 09:00:30 AM
No, bitcoins is people currency only
May 10, 2016, 08:58:44 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?
May 10, 2016, 08:54:10 AM
Well after the Panama Papers scandal ,I am not at all surprised that richest address keeps their savings in Bitcoin, its a normal reaction for anyone with a bit of a working brain. But still even with this happening, bitcoin will always be the people currency because of how easy and safe is to use it (of course when you know what you are doing) . So am not at all surprised by the trend continuing and not declining.
Fiat is the currency of the people. All people use it.
By "all people" you mean the slave classes, rich and poor slaves both use scrip privately issued by their masters, yes.
May 10, 2016, 08:36:59 AM
Well after the Panama Papers scandal ,I am not at all surprised that richest address keeps their savings in Bitcoin, its a normal reaction for anyone with a bit of a working brain. But still even with this happening, bitcoin will always be the people currency because of how easy and safe is to use it (of course when you know what you are doing) . So am not at all surprised by the trend continuing and not declining.
Fiat is the currency of the people. All people use it.
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.
Only if they gamble/can't score dope locally. For everything else, CC rule. I mean, think about it: your credit card gives you free loans and offers buyer protection, what's not to like?
May 10, 2016, 08:33:30 AM
I don't think.
May 10, 2016, 08:30:54 AM
Well after the Panama Papers scandal ,I am not at all surprised that richest address keeps their savings in Bitcoin, its a normal reaction for anyone with a bit of a working brain. But still even with this happening, bitcoin will always be the people currency because of how easy and safe is to use it (of course when you know what you are doing) . So am not at all surprised by the trend continuing and not declining.
Fiat is the currency of the people. All people use it.
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.
May 10, 2016, 07:50:38 AM
Well after the Panama Papers scandal ,I am not at all surprised that richest address keeps their savings in Bitcoin, its a normal reaction for anyone with a bit of a working brain. But still even with this happening, bitcoin will always be the people currency because of how easy and safe is to use it (of course when you know what you are doing) . So am not at all surprised by the trend continuing and not declining.
Fiat is the currency of the people. All people use it.
May 10, 2016, 07:49:05 AM
Well after the Panama Papers scandal ,I am not at all surprised that richest address keeps their savings in Bitcoin, its a normal reaction for anyone with a bit of a working brain. But still even with this happening, bitcoin will always be the people currency because of how easy and safe is to use it (of course when you know what you are doing) . So am not at all surprised by the trend continuing and not declining.
May 10, 2016, 07:48:52 AM
Yes it's the currency of the people, do you think the smart people that saw the value of Bitcoin when it was worthless for 99% of people out there are aliens and not people? do you think they don't deserve it because they believed in the project no one else did? get a grip.
This is probably a language barrier. By "currency of the people," OP means "currency of the masses." Technically you're right tho, as long as one human owns X and calls it currency, X is the currency of the people.
May 10, 2016, 07:43:10 AM
Yes it's the currency of the people, do you think the smart people that saw the value of Bitcoin when it was worthless for 99% of people out there are aliens and not people? do you think they don't deserve it because they believed in the project no one else did? get a grip.
Also, eventually they will start selling, in the long long term the supply with get more even, but we still have a long way up for that, so get in while it's cheap and stop complaining.
Also, eventually they will start selling, in the long long term the supply with get more even, but we still have a long way up for that, so get in while it's cheap and stop complaining.
May 10, 2016, 07:27:56 AM
Well this is to be expected to be honest. A lot of early adopters have gotten a lot of cheap coins and now their holdings can amount to millions of dollars. Also there are maybe some fiat millionaires who decided to buy into Bitcoin for the long-term investment value. The fact is that the rich get richer and the poor get poorer and this pertains to Bitcoin as well. But I believe that Bitcoin can be used as a currency or a store of value and it all depends on the user.
May 10, 2016, 07:22:42 AM
That's how world works...
And the problem is simple, poor people dont know how to invest, theyalmost never hold money.
Any currency will be like that.
And the problem is simple, poor people dont know how to invest, they
Any currency will be like that.
Nah, it's rich people who never hold any money. They invest it.
If you hurry, you can still make it to the soup kitchen for coffee and stale doughnuts.
May 10, 2016, 07:15:35 AM
That's how world works...
And the problem is simple, poor people dont know how to invest, theyalmost never hold money.
Any currency will be like that.
And the problem is simple, poor people dont know how to invest, they
Any currency will be like that.
May 10, 2016, 07:00:00 AM
There is nothing wrong with holding bitcoins and probably those who have been investing in bitcoins for years have the maximum number of coins in their wallets. However, people still are left with many coins which are still being mined. It has not harmed the supply till now.
You are answering way too far from the title of this thread, but yes you are right nothing is wrong today if you are going to hold.
There are also bitcoins that are lost forever in wallets that can't be retrieve and remember its private key.
May 10, 2016, 06:39:58 AM
There is nothing wrong with holding bitcoins and probably those who have been investing in bitcoins for years have the maximum number of coins in their wallets. However, people still are left with many coins which are still being mined. It has not harmed the supply till now.
May 10, 2016, 06:27:39 AM
I think for now it is still the currency of the people, because there a lot of people using bitcoin and they used it globally, its normal that big traders and investor keep big sum of money but it will not change bitcoin existence
No one can change the value and usage of fiat money, because people are used to it. And for the long time people are more convenient in using fiat money, but still we don't have the same views and points.
May 10, 2016, 06:17:56 AM
I think for now it is still the currency of the people, because there a lot of people using bitcoin and they used it globally, its normal that big traders and investor keep big sum of money but it will not change bitcoin existence
May 10, 2016, 06:09:43 AM
Mass adoption won't necessarily mean BTC replacing fiat as "the currency". It has a long way to go towards general acceptance and stability. People will always have choices on what they would use and what they think best serves them. If BTC establishes itself as "the other currency", I'd be more than happy to live with that.
May 10, 2016, 06:03:44 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. -snip-
4.5m bitcoins are held by the top 500 richest addresses
15.5m bitcoins have been mined so far
May 09, 2016, 11:52:39 AM
I think bitcoins is the peoples currency and it is one of the best.
Jump to: