Topic: Bitcoin is still in the year 2013. How do we get past it? (Read 1404 times)

Human nature is the same whichever little pocket it spreads into. You can have the greatest tech ever but collective dumbness and greed will quickly piss all over it.

That's why it has to moulded and shepherded by people with more of a clue than the majority. Most are not equipped to be their own bank and never will be.

You're absolutely right. I look at coinmarketcap.com at this moment and I see that Paycoin, a blatant scam, is one of the top 10 cryptocurrencies with a higher market cap than Namecoin or Peercoin. People aren't interested in legitimacy or being picky about who they do business with. They want convenience and promises of riches and they'll give up security and common sense. So the major problem with crypto right now is that the majority of the market participants are incredibly stupid. We'll get what we deserve until we start demanding better.

Yes, we can do something like that but guess again. People are the flaw here, here what happened with Black Market - Evolution.  That site gained users trust by offering a feature known as multi-signature transactions, designed to prevent exactly the sort of bitcoin theft its administrators are now accused of. That system, would require at least two out of three parties in a transaction - the buyer, the seller, and Evolution's administrators - to sign off on a deal.  And you know what? Due to its complexity, buyers rarely used the feature. People are to be blamed, not the system.

Bitcoin is programmable money. We should be able to design security features that are beyond anything fiat can do.

Multi-sig, timelocked balances, IP/device analysis, biometric passwords.

It's funny. Lots of people in this thread thought I was talking about the price or investment when I was talking about security and fraud.

And do you think that we could ever be able to counter hacking attempts? I don't think so when even the biggest world's companies are being constantly hacked: Sony Network hacked in Dec 2014, Twitch.tv hacked a week ago and countless other hacked sites we didn't even know about. Scammers will be always z threat, it is human nature that is flawed here not system, there are people who want to steal and people who are gullible enough to be their victims. And Black markets are the same thing, people are just being retarded, again we can't really do anything about it.

Create applications to increase its utility.

The biggest flaw related to BTC is anonymity. This trait is what has made hackers, scammers, ponzi admins, ponzi pumpers and similar scum to become extremely interested in BTC.
This economy cannot grow without tons of small and successful projects, this is what makes people interested in new tech, success stories. If the entire crypto community consists of suspicious or semi-suspicious projects, who s gonna want to be part of it? Only those scammers and you cannot build economy on that.

As much as I do not like saying that, we do need some form of limited legislation related to BTC or this project s not gonna continue to grow.

Don't get me wrong, I love BTC, but....

I think the biggest flaw in the whole design and concept of BTC and the blockchain is; they didn't fully consider the "human element"

security (not getting hacked, ripped off, and scammed) will develop. I believe it could be the greatest growth area in the sphere, and if improved upon, will make BTC much more palatable, but it still doesn't fully address the "human element"

Beautiful algorithms and glittering technology are one thing, but most people don't care. They just want something that works, and will only switch up to a better version when the old has grown obsolete and the new brings noticeable improvements.

generally, people distrust new things. When the new thing is shown to have weak spots, these are exaggerated and constantly mocked/pointed out.

BTC has suffered so many scandals and scams that there is much more bad press than good, and this alone will stifle new adoption.

BTC could very well flounder to the point of death because people have this image that it is full of pitfalls.

If BTC can survive the next 5 years, for sure this human fear will evaporate.

Consider mobile phones. They have been commercially available since the 80s. Except no one used them. They were ridiculed. Cumbersome, overpriced, very limited usability.

Now the phone in your pocket contains more technology than went to the moon in the 60s, everyone has one, and they are easy to get and use. Think about it, how could you survive without one in today's world?

Too many people try and make an analogy between BTC and early days of internet.

Mobile phones are a much better comparison.

Hold fast brethren, we have ~5 more years of gloomy seas on good ship BTC.

however, patience will be rewarded.

I think its going to take the next reward halving before we see a substantial increase. i, for one, cant wait for it, since I dont mine any more, lol....

LOL.. You're a fail.. 33% swings are not considered small in any venue on any asset nor are they considered stable!

You #Fail!

As you say, there are way more indicators than only volume of exchanges and price. But OP forgot to look at this or just doesn't want to do so.

Bitcoin now is much further than it ever was. Especially if you look at the invested amounts in the start ups. Future looks very bright 

We get a company like amazon to accept bit coin and then market the crap out of it and actually get people to start using it my give I a discount a little less than the credit card rates, so people try it out and realize that it is the best way to pay and then continue to use it.

Any old prick can set up a website and start stealing. To build infrastructure that satisfies investors, financiers, employers and those who make the law, let alone a sceptical public, you're looking at years of patient graft and thousands of hurdles to jump.

It's gotten far on the back of infrastructure that was run by thieves and children. If it really wants to get rolling it has to satisfy more than a few crypto obsessives. What's available now, with a few honourable exceptions, is too complex or sketchy for most of the world.

It's coming together slowly but I think it'll be a top down deal. It'll have to be built before they will come.

Bitcoin is at 230 now for 3months? On my screen i am looking at 250 and have not seen 230 for weeks. They are not small swings lol  

Oh and so you know you are talking to the best trader you will get to meet here he has traded and owns more coin in one trade than you will have over the rest of the time you are in Bitcoin pay attention to what he says and be smart and ask questions if you want to learn and he is good enough to help you, just saying.

Come on op those exchanges was nothing like gox, bter is not big and stamp paid back, point invalid. One was for 800k the other 7k  

Blackmarkets are always going to scam and get taken down from now until the end of bitcoin get used to it and take a trip to the press release section and realize we are far past 2013.

Lol we are way past 2013, do you even check the news?

what you are talking about, bitcoin is at 230 now for 3 months(small swing like 230 --->290, don't count, they are just small pump for sucking fish money), not 4 weeks, have you seen the chart? are you following market data/price?

btw with stable i don't mean a price that is stuck there, little variations of price are impossible to prevent, they are fine, but the overall value it's stable in the end between 200-300, with 230-250 as a floor basically

Amph is wrong. The price is not stable. You want to see a stable btc price?? Go to www.bitcoinwisdom.com select Bitstamp and view the chart on the 1w time interval. Im sure the stability will jump out at you!

After doing that I'd like to know if you still feel like we're at a stable price.

I agree. We are inside a black hole without light.

I mean:
-In 2014 i bought bitcoin at 500 USD,talking about poeple to join bitcoin as the future,saying to them "hey,buy now or cry later". Everyone was blame me that bitcoin is only a speculative bubble and price will come back down to 300 usd instead growing slowly slowly.

I was so happy to have this secret called BITCOIN. You know...."hey,this time all of you are wrong,you will regret to not have bought tons of bitcoin at 500 usd. Just wait end of 2014 and i will laugh. all of you surely will buy bitcoin over 1k at beginning of 2015"

Wrong. I have lost.

Alll thoose people coming back to me after 1 years doing nothing,just bought less then me.

Bitcoin was the worst investment of 2014.


There is no difference for a early adopter of 2013(middle) or a newbie of april 2015.
Price is still the same. Who found bitcoin 2 years ago wasn't rewarded.

Amph has right, if we compare 2014 with 2013 ... then the stabilization is more aggressive this years (also if we go to 200  dollars, it is always more stable then 2013-2014).


Stable = doesn't mean pump that coin.

When you put it in that way, apparently not much has changed...