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Topic: Bitcoin keeps failing - page 2. (Read 5128 times)

legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 09:21:02 AM
#24
Bitcoin is not only a store of value. Please google it more next time.

What is it then?

Useless psuedo bullshit, bitcoin was created to get the sheep to accept digital currency, it will be replaced by government backed digital currency and botcoin will just die thereafter when they deem ready to murder it.

Ohh you see all these Bitcoin scams can't trust some black market currency, but you can trust ECB and FED backed digital currency.

Bitcoin knew about its mass scaling problems and did jack shit in the last 5 years to address them, either really stupid or done on purpose.

I agree that Bitcoin has scalability issue, but the rest of ur post isn't backed by anything.
full member
Activity: 896
Merit: 102
November 22, 2013, 09:17:36 AM
#23
Bitcoin is not only a store of value. Please google it more next time.

What is it then?

Useless psuedo bullshit, bitcoin was created to get the sheep to accept digital currency, it will be replaced by government backed digital currency and botcoin will just die thereafter when they deem ready to murder it.

Ohh you see all these Bitcoin scams can't trust some black market currency, but you can trust ECB and FED backed digital currency.

Bitcoin knew about its mass scaling problems and did jack shit in the last 5 years to address them, either really stupid or done on purpose.
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
November 22, 2013, 09:03:22 AM
#22
Let us not forget that the Bitcoin developer abandoned his project years ago and vanished.

Fortunately there are other currencies with active developers rising to the challenge. Don't worry, if Bitcoin becomes a sheer object of speculation others will find a way. Bookmark this page: http://coinmarketcap.com/

You say this as if Bitcoin was no longer being developed.  There is now a whole team working on bitcoin, just because Satoshi is not working on it (or is he? no one knows) means nothing.  What is your point?  Oh probably that everyone should buy Goldcoins.

Sure. That would be fine but my point is most people don't understand that Bitcoin is not the only digital currency.

But this is changing and very very rapidly. Bitcoin is like the web crawler of the early 90's, we still don't know who will be Google. Yesterday for the first time, Max Keiser talked about Litecoin on his show. It's happening right in front of our eyes.

Digital currencies are taking over the World and it's not going to be a bitcoin-only ride.
hero member
Activity: 658
Merit: 500
Small Red and Bad
November 22, 2013, 08:57:45 AM
#21

Average 3rd world person in poverty, has no bank account. They have no real means of even amassing wealth safely. Tack on to this, that services like Paypal and others all needed some "Exchange" end to be value, none of which was cash, prohibits them from participating.

Now, some guy can post services , get a small micro wallet, and very good chance he can exchange it one way or another. With 0 fear of some corp just jacking his funds over some KYC issues etc. The real potential is for the world of people excluded from normal banking and savings. IT will just take time and adoption.

True, a lot of people have limited access to computers, internet, banking, especially in poor regions, but they have (or could afford) mobile phones with wallets, or any other small pieces of tech, which are easy to carry, and work for days without electricity. By having a BTC wallet instead of cash you can feel safer cause it's encrypted and more secure than a credit card, no central authority watching over your money, you just have a coin in your pocket and the whole system can go F*** themselves.

Nowadays people are insecure, just look at this whole prepper thing, nobody heard about it since the cold war. In the US you can at least buy a gun and shoot it from your porch, imagine how people in the EU feel - no real rights, no weapons and more countries in debt or bankrupt.

legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 08:54:54 AM
#20
You say this as if Bitcoin was no longer being developed.  There is now a whole team working on bitcoin, just because Satoshi is not working on it (or is he? no one knows) means nothing.  What is your point?  Oh probably that everyone should buy Goldcoins.

I'd prefer not to have developers at all. Most of new features were about centralization and regulation.
full member
Activity: 238
Merit: 100
November 22, 2013, 08:49:30 AM
#19
Let us not forget that the Bitcoin developer abandoned his project years ago and vanished.

Fortunately there are other currencies with active developers rising to the challenge. Don't worry, if Bitcoin becomes a sheer object of speculation others will find a way. Bookmark this page: http://coinmarketcap.com/

You say this as if Bitcoin was no longer being developed.  There is now a whole team working on bitcoin, just because Satoshi is not working on it (or is he? no one knows) means nothing.  What is your point?  Oh probably that everyone should buy Goldcoins.
hero member
Activity: 826
Merit: 501
in defi we trust
November 22, 2013, 08:45:34 AM
#18
What the difference when it comes to buying/selling stuff when BTC will grow? Instead of paying 1 BTC you will pay 0.001 BTC etc. I dont see any problem with it as long as you can "translate(?)" the BTC to USD/EUR etc.

Exactly!
Quote
as you can "translate(?)" the BTC to USD/EUR etc.
Bitcoin was supposed to be used as a currency, not as a toy for speculators.

Yeah , bitcoin was supposed to do  lots of things.
There are people here that said bitcoin will reduce poverty in Africa (how ? , beats me).

Well , guess what , it doesn't do most the things it was supposed to do , but in the future it might.

Average 3rd world person in poverty, has no bank account. They have no real means of even amassing wealth safely. Tack on to this, that services like Paypal and others all needed some "Exchange" end to be value, none of which was cash, prohibits them from participating.

Now, some guy can post services , get a small micro wallet, and very good chance he can exchange it one way or another. With 0 fear of some corp just jacking his funds over some KYC issues etc. The real potential is for the world of people excluded from normal banking and savings. IT will just take time and adoption.

Of course my friend..
We have no water , no electricity , food only from the UN help funds , but we can store our "wealth" in a wallet.
Problems solved , we're going to Italy to buy Ferraris.
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
November 22, 2013, 08:38:30 AM
#17
Let us not forget that the Bitcoin developer abandoned his project years ago and vanished.

Fortunately there are other currencies with active developers rising to the challenge. Don't worry, if Bitcoin becomes a sheer object of speculation others will find a way. Bookmark this page: http://coinmarketcap.com/
legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 08:31:50 AM
#16
IT will just take time and adoption.

Almost 5 years left. Can u assess when we'll see the progress?
full member
Activity: 219
Merit: 100
Bitcoin Mining Hosting
November 22, 2013, 08:18:14 AM
#15
What the difference when it comes to buying/selling stuff when BTC will grow? Instead of paying 1 BTC you will pay 0.001 BTC etc. I dont see any problem with it as long as you can "translate(?)" the BTC to USD/EUR etc.

Exactly!
Quote
as you can "translate(?)" the BTC to USD/EUR etc.
Bitcoin was supposed to be used as a currency, not as a toy for speculators.

Yeah , bitcoin was supposed to do  lots of things.
There are people here that said bitcoin will reduce poverty in Africa (how ? , beats me).

Well , guess what , it doesn't do most the things it was supposed to do , but in the future it might.

Average 3rd world person in poverty, has no bank account. They have no real means of even amassing wealth safely. Tack on to this, that services like Paypal and others all needed some "Exchange" end to be value, none of which was cash, prohibits them from participating.

Now, some guy can post services , get a small micro wallet, and very good chance he can exchange it one way or another. With 0 fear of some corp just jacking his funds over some KYC issues etc. The real potential is for the world of people excluded from normal banking and savings. IT will just take time and adoption.
legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 08:12:37 AM
#14
Yeah, it costs 7 times more but now it can't be used as currency with all these +/-100 USD swings. Early adopters happy but the rest of the world can't use it even as store of value, because when it crosses 1000 USD mark the early adopters will cash out again. Of coz u can hold it until it reaches 2000 USD mark, but will it?

So sad you sold in 2011. You should have kept some.

Yeah... Wait, I sold at 200+ half a year ago! And keep getting them as payment for my coding service. Don't worry about me plz.
legendary
Activity: 1148
Merit: 1018
November 22, 2013, 08:06:40 AM
#13
Yeah, it costs 7 times more but now it can't be used as currency with all these +/-100 USD swings. Early adopters happy but the rest of the world can't use it even as store of value, because when it crosses 1000 USD mark the early adopters will cash out again. Of coz u can hold it until it reaches 2000 USD mark, but will it?

So sad you sold in 2011. You should have kept some.
global moderator
Activity: 4018
Merit: 2728
Join the world-leading crypto sportsbook NOW!
November 22, 2013, 08:04:45 AM
#12
Hasn't failed me yet. I bought into bitcoin to use it as a currency, but before I got the chance to spend it it quickly doubled in worth. Now it's worth seven times as much and climbing. I would’ve been pretty annoyed now had I spent it all. When/if the currency seems to stabilise at a point in the future, then I'll probably spend it, but for now I think I'll save it as an Investment and see what highs or lows bitcoin can ride. Plenty of people are still buying and selling with it at the moment, but personally I think it'd be unwise to spend it now, but people can do what they want with it; money doesn't have to be spent as soon as you get it. I'm excited to see what happens.
hero member
Activity: 826
Merit: 501
in defi we trust
November 22, 2013, 07:52:36 AM
#11
Yeah , bitcoin was supposed to do  lots of things.
There are people here that said bitcoin will reduce poverty in Africa (how ? , beats me).

Well , guess what , it doesn't do most the things it was supposed to do , but in the future it might.

It does one thing : it allows verifiable transfer of a fungible, finite thing : bitcoin. That, in itslef (and some other properties), is huge, and explains the interest for bitcoin and its future.
Bitcoin might reduce poverty in Africa, yes, because it might lead, directly or indirectly, to the end of debt money. Understand it or not, but that would be a HUGE change in our current world, and would indeed help reduce poverty, to put it simply.


Of course , that would explain why some countries were poor even before fiat money
And why Greece has gone bankrupt 7 times during the gold standard.

cho
full member
Activity: 155
Merit: 100
Boar with me
November 22, 2013, 07:45:54 AM
#10
Yeah , bitcoin was supposed to do  lots of things.
There are people here that said bitcoin will reduce poverty in Africa (how ? , beats me).

Well , guess what , it doesn't do most the things it was supposed to do , but in the future it might.

It does one thing : it allows verifiable transfer of a fungible, finite thing : bitcoin. That, in itslef (and some other properties), is huge, and explains the interest for bitcoin and its future.
Bitcoin might reduce poverty in Africa, yes, because it might lead, directly or indirectly, to the end of debt money. Understand it or not, but that would be a HUGE change in our current world, and would indeed help reduce poverty, to put it simply.
legendary
Activity: 4424
Merit: 4794
November 22, 2013, 07:33:50 AM
#9
Yeah, it costs 7 times more but now it can't be used as currency with all these +/-100 USD swings. Early adopters happy but the rest of the world can't use it even as store of value, because when it crosses 1000 USD mark the early adopters will cash out again. Of coz u can hold it until it reaches 2000 USD mark, but will it?

the price is volitile because the amount of people in the system doesnt match new comers and a few other factors. the more people that adopt bitcoin for daily use the more stable the price will become. at the moment it is like the first week of the month is peoples payday where they sell of for fiat, then the rest of the month s hoarding. this has been the pattern for months now.

once there are enough people to buy when others want to sell and vice versa, to keep the price at a basic level people will start moving into bitcoin in their droves.. bitcoin is still in the early stages.
hero member
Activity: 826
Merit: 501
in defi we trust
November 22, 2013, 07:26:18 AM
#8
What the difference when it comes to buying/selling stuff when BTC will grow? Instead of paying 1 BTC you will pay 0.001 BTC etc. I dont see any problem with it as long as you can "translate(?)" the BTC to USD/EUR etc.

Exactly!
Quote
as you can "translate(?)" the BTC to USD/EUR etc.
Bitcoin was supposed to be used as a currency, not as a toy for speculators.

Yeah , bitcoin was supposed to do  lots of things.
There are people here that said bitcoin will reduce poverty in Africa (how ? , beats me).

Well , guess what , it doesn't do most the things it was supposed to do , but in the future it might.
legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 07:22:09 AM
#7
What the difference when it comes to buying/selling stuff when BTC will grow? Instead of paying 1 BTC you will pay 0.001 BTC etc. I dont see any problem with it as long as you can "translate(?)" the BTC to USD/EUR etc.

Exactly!
Quote
as you can "translate(?)" the BTC to USD/EUR etc.
Bitcoin was supposed to be used as a currency, not as a toy for speculators.
member
Activity: 123
Merit: 10
November 22, 2013, 07:11:10 AM
#6
What the difference when it comes to buying/selling stuff when BTC will grow? Instead of paying 1 BTC you will pay 0.001 BTC etc. I dont see any problem with it as long as you can "translate(?)" the BTC to USD/EUR etc.
legendary
Activity: 2142
Merit: 1010
Newbie
November 22, 2013, 06:22:01 AM
#5
Bitcoin is not only a store of value. Please google it more next time.

What is it then?

I googled for a while and found http://gavinthink.blogspot.com/2012/07/is-store-of-value-enough.html. He mentions only "store of value" and "means of exchange", both aspects were covered in the OP.
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