Topic: Bitcoin really is useful. Just not in the way you think (Read 1720 times)
I would say majority of those people who thought it was a scam probably didn't quite understand what bitcoin is all about or they just didn't bother to check out what it was in the first place. To make things worse they could have just take in what they have read from other misleading posts and articles spreading lies. The first impression is very important and I would say mt gox actually did a lot of damage on that.
The Bitcoin world has been divided into three camps:
- those who think that bitcoin must be a scam;
- those who think it’s one of the most interesting technological developments in decades;
- and (the vast majority) those who have no idea what the fuss is about.
Well I can see a small problem here. I don't think I fit into any category.
1. I don't believe Bitcoin is a scam. It's just (currently) a simple commodity and economics at play.
2. Not really, it's just another tool to further electronic commerce. It's different - but I don't think it is remotely as interesting as computing itself (that is a truly incredible technological development).
3. Yeah, I don't fit in there either.
I feel like there should be a camp that are ambivalent towards Bitcoin - have a small interest, but aren't going to be that sad should Bitcoin fail. It's more like a social experiment in some ways, seeing how change propagates throughout society.
I am big supporter of second category as there is no doubt that bitcoin is biggest and most innovation for last few hundred years.Bitcoin successfully succeed to change the old concept of fiat money which was backed by gold.This new trend of Bitcoin will change many thing in near future.
i think there aren't many people who are in the first category who think bitcoin must be a scam. maybe at first, when bitcoin was introduced many people thought this way but not nowadays. but many might be think that bitcoin is being used "To Scam" or illegal activities. like terrorist activities or ransom in bitcoin.
the second group which i am a part of who thinks bitcoin is an interesting technological developments, unfortunately consist of an small portion of the bitcoin users.
the rest have little idea what is going on, many use it to buy, gamble,... many just earn it mining, advertising, signature camp. but doesn't care about the technology behind it.
the second group which i am a part of who thinks bitcoin is an interesting technological developments, unfortunately consist of an small portion of the bitcoin users.
the rest have little idea what is going on, many use it to buy, gamble,... many just earn it mining, advertising, signature camp. but doesn't care about the technology behind it.
Yup third category is the most interesting category but most people don't want to go into that.
i think there aren't many people who are in the first category who think bitcoin must be a scam. maybe at first, when bitcoin was introduced many people thought this way but not nowadays. but many might be think that bitcoin is being used "To Scam" or illegal activities. like terrorist activities or ransom in bitcoin.
the second group which i am a part of who thinks bitcoin is an interesting technological developments, unfortunately consist of an small portion of the bitcoin users.
the rest have little idea what is going on, many use it to buy, gamble,... many just earn it mining, advertising, signature camp. but doesn't care about the technology behind it.
the second group which i am a part of who thinks bitcoin is an interesting technological developments, unfortunately consist of an small portion of the bitcoin users.
the rest have little idea what is going on, many use it to buy, gamble,... many just earn it mining, advertising, signature camp. but doesn't care about the technology behind it.
Quick point.
Bitcoin is useful. Just not adapted.
I bought my first coin around a two years ago. Back then most You could get for it was some cheap hosting, vpn or ... pizza. Then came the "bubble" and waterfall of companies looking into BTC, trying to put it into their business model. I say, they made it! Now when i see option to pay in BTC i do. Why? A year ago paying in BTC was risky business, You were paying 100$ for something one day, and next day You were waking up in world where price went up and what You paid was not 100$ anymore but 200$. Today, as price seems to be more stable i pay in BTC almost every time i have occasion. True, it still can go up to 10k usd (maybe in decade boys
) but it will not happen overnight. But a lot changed in those two years, we have big and small companies adapting BTC (even when it is out of curiosity or defined by competitors action) and as i browse reedit channel "Buttcoin" (they do great job when it comes to counter-force for "bubble madness") which pretty much criticize everything related to bitcoin i tend to laugh more from their hatred than, as i used to, from bitcoin community itself (which still can get pretty much entertaining)
Why?
Two years ago You could only buy geek stuff, often discounted for 5 to 10% but still ... geek stuff. Today i can buy almost everything, almost every site i am using is accepting bitcoin. And often this is much more cheaper, much more faster and much more easier than paying by credit card or paypal. Let me give You an example. Not so long ago i was looking for some advertisement-related service on web, i found it, unfortunately only way of payment was by credit card. I also have those, not yet thrown to dumpster, so i typed it in and happily waited for my service to activate. It did! After 3 days, it took 3 days to charge my CC for foreign company, also bank needed to call me about this transaction which was "suspicious" (it was not eur/usd, so it was suspicious)! Add to that that i payed fee for currency exchange (which was around 8% of whole amount!) and in the end i've ended up waiting 3 days and paying +8% to my original service fee (yes, to visa). Moreover, if You think about it, i also needed to put my CC (i don't use my "named" card for that, but prepaid. let's say for sake of the point that it was my normal credit card with personal bank account connected to it) which ended up in database of this company (judging that i was not redirect to any payment gateway, but even if i would ...). So, in the end i waited more than i needed to, payed more than i expected too, and now i don't even know if they at least encrypted my credit card data or it's laying on their servers in clear-text waiting to be picked up be teenagers from Russia (they tend to have at least +5 attack points when it comes to f**king up fully-secured-audit-enchanced services)
Few days after i found exactly the same service but with ability to pay in BTC. It was activated after 1 confirmation (5-10 minutes), i payed 5% (discount) less than expected, and i did not need to give away ANY of my personal details.
So please guys, we don't live in 2012/2013 anymore and You are not sixteen anymore too. Start acting on it. Bitcoin is many things, but in first place it's designed to PAY FOR THINGS. Not to "speculate" (there is not much speculation anymore if You don't "bigger" amount of money) as time of easy money and riding on wave of stupidity connected with blind greed ended. As for "development" it's natural for any technology, with bitcoin we got blockchain, and as You can see, even in last days, it definitely picked up.
Oh, i ended up with pretty much wall of text.
Bitcoin is useful. Just not adapted.
I bought my first coin around a two years ago. Back then most You could get for it was some cheap hosting, vpn or ... pizza. Then came the "bubble" and waterfall of companies looking into BTC, trying to put it into their business model. I say, they made it! Now when i see option to pay in BTC i do. Why? A year ago paying in BTC was risky business, You were paying 100$ for something one day, and next day You were waking up in world where price went up and what You paid was not 100$ anymore but 200$. Today, as price seems to be more stable i pay in BTC almost every time i have occasion. True, it still can go up to 10k usd (maybe in decade boys
) but it will not happen overnight. But a lot changed in those two years, we have big and small companies adapting BTC (even when it is out of curiosity or defined by competitors action) and as i browse reedit channel "Buttcoin" (they do great job when it comes to counter-force for "bubble madness") which pretty much criticize everything related to bitcoin i tend to laugh more from their hatred than, as i used to, from bitcoin community itself (which still can get pretty much entertaining) Why?
Two years ago You could only buy geek stuff, often discounted for 5 to 10% but still ... geek stuff. Today i can buy almost everything, almost every site i am using is accepting bitcoin. And often this is much more cheaper, much more faster and much more easier than paying by credit card or paypal. Let me give You an example. Not so long ago i was looking for some advertisement-related service on web, i found it, unfortunately only way of payment was by credit card. I also have those, not yet thrown to dumpster, so i typed it in and happily waited for my service to activate. It did! After 3 days, it took 3 days to charge my CC for foreign company, also bank needed to call me about this transaction which was "suspicious" (it was not eur/usd, so it was suspicious)! Add to that that i payed fee for currency exchange (which was around 8% of whole amount!) and in the end i've ended up waiting 3 days and paying +8% to my original service fee (yes, to visa). Moreover, if You think about it, i also needed to put my CC (i don't use my "named" card for that, but prepaid. let's say for sake of the point that it was my normal credit card with personal bank account connected to it) which ended up in database of this company (judging that i was not redirect to any payment gateway, but even if i would ...). So, in the end i waited more than i needed to, payed more than i expected too, and now i don't even know if they at least encrypted my credit card data or it's laying on their servers in clear-text waiting to be picked up be teenagers from Russia (they tend to have at least +5 attack points when it comes to f**king up fully-secured-audit-enchanced services)
Few days after i found exactly the same service but with ability to pay in BTC. It was activated after 1 confirmation (5-10 minutes), i payed 5% (discount) less than expected, and i did not need to give away ANY of my personal details.
So please guys, we don't live in 2012/2013 anymore and You are not sixteen anymore too. Start acting on it. Bitcoin is many things, but in first place it's designed to PAY FOR THINGS. Not to "speculate" (there is not much speculation anymore if You don't "bigger" amount of money) as time of easy money and riding on wave of stupidity connected with blind greed ended. As for "development" it's natural for any technology, with bitcoin we got blockchain, and as You can see, even in last days, it definitely picked up.
Oh, i ended up with pretty much wall of text.
The camp 1 (small amount) produce some f**king posts to lure the camp 3 (most people) into false assumptions. Just because you can't make profit out of BTC doesn't men it's dead. I mean Bitcoin was invented to have a currency that can have versatile uses. It was not invented to make you rich.
Making you rich is another potential use, it's just another one. Just like with Gold, you can use BTC as an speculative asset that will appreciate with time, unlike Fiats, which only depreciate. The camp 1 (small amount) produce some f**king posts to lure the camp 3 (most people) into false assumptions. Just because you can't make profit out of BTC doesn't men it's dead. I mean Bitcoin was invented to have a currency that can have versatile uses. It was not invented to make you rich.
Nope I dont think that is bitcoin real purpose. May be somehow that is correct, bitcoin can have versatile uses but I do not think there are no people that want to earn more from this. The point is people want to earn more money thats why they are using bitcoin and bitcoin is supported by a good technology so both of this is profitable. So what is the matter in bitcoin uses?
I am in camp 2. Bitcoin is a revolution.
I agree the Bitcoin blockchain is where Bitcoin is really useful. It is a transparent distributed database which rewards those who help to keep it secure. Blockchain technology has captured the interest of many multinational companies because it has huge potential.
I agree the Bitcoin blockchain is where Bitcoin is really useful. It is a transparent distributed database which rewards those who help to keep it secure. Blockchain technology has captured the interest of many multinational companies because it has huge potential.
i am definitely a part of the second camp, i believe that bitcoin was a revolution and was one of the most interesting technological developments in the past years.
i don't think there are that many people in camp one, people are either know about bitcoin and like the idea or have no idea what the hell it is.
i don't think there are that many people in camp one, people are either know about bitcoin and like the idea or have no idea what the hell it is.
I am the one in camp two. It is definitely the techonology revolution, and will change the currency ecosystem in the future for the idea of digital encryption currency. It is the tendency.
It has already started an revolution but only for those who knows it and have used it as a mode of payment.Thanks to the digital world, now i dont have to use my credit card for shopping online i just have to pay by using my bitcoins and it is very easy and helpful so i believe it will definitely create an revolution in coming future.
You forgot the people who don't even know what the hell is that. I don't think they fit in category 3.
Yes you are right there are many people in the world who are not aware about the concept of bitcoin so it is really difficult to believe that they will start using the bitcoin as a mode of payment in coming future the only thing we need to do is to make aware about the advantages of holding bitcoins.
The camp 1 (small amount) produce some f**king posts to lure the camp 3 (most people) into false assumptions. Just because you can't make profit out of BTC doesn't men it's dead. I mean Bitcoin was invented to have a currency that can have versatile uses. It was not invented to make you rich.
While I applaud the use of the blockchain for other decentralised services I wish people would see that MOST of these articles that are saying the Blockchain tech is useful are really just another concerted effort to negate Bitcoin as a currency. They all start with well of course Bitcoin is BS as a currency BUT hey we can use it for something good anyway. This is simply a development of the onslaught of negative press related to Bitcoin.
The best lies are the ones with half truths. Bitcoin is a currency and has the 'potential' to turn the world upside down and rid the world of financial corruption at the core i.e. the FED if its accepted by the masses. Don't believe any article that suggests to you otherwise.
The best lies are the ones with half truths. Bitcoin is a currency and has the 'potential' to turn the world upside down and rid the world of financial corruption at the core i.e. the FED if its accepted by the masses. Don't believe any article that suggests to you otherwise.
You may be right, but in this case I think even bad publicity might be good. At least people are becoming aware of bitcoins. Also your average person might want some shady cash: in the usa for example there is an absurd law against online gambling that was surely bought by the Indian casinos and vegas. Your average american might see this and think it would be a great way to put 20 bucks on sunday's game.
I hope that bitcoins could somehow rid the world of corruption, but somehow I doubt that those in power would let that happen. I tend to be cynical I I would love to be wrong in this case.
New methods to use Bitcoin will keep appearing with time, as the technology progress. It started as a currency, now we realized the potential of bitcoin blockchain. You should watch this:
https://www.youtube.com/watch?v=4nOfHpOFhN8
I wonder if Satoshi ever envisioned that Bitcoin would become this huge thing with a million different uses beyond monetary transactions. It's pretty crazy that the project is only 5 years old. https://www.youtube.com/watch?v=4nOfHpOFhN8
New methods to use Bitcoin will keep appearing with time, as the technology progress. It started as a currency, now we realized the potential of bitcoin blockchain. You should watch this:
https://www.youtube.com/watch?v=4nOfHpOFhN8
https://www.youtube.com/watch?v=4nOfHpOFhN8
I think you all are missing an important point.
Think BTC as a large multinational corporation, has not started paying dividends yet. One big difference: This corporation won't issue new shares (just a limited number of shares available for investors).
OK. Do you see the big picture now? Hey wise guardian do you see it?
Think BTC as a large multinational corporation, has not started paying dividends yet. One big difference: This corporation won't issue new shares (just a limited number of shares available for investors).
OK. Do you see the big picture now? Hey wise guardian do you see it?
I am sure that the majority of people will say they belong to camp 2.
Personally, I think there are more than 3 camps.
The ones who see it as money making opportunity for example.
Personally, I think there are more than 3 camps.
The ones who see it as money making opportunity for example.
Nope, for me personally I'm using this bitcoin is pure to get more money from this, nothing else. Its true that there are more of these camps but I think this is what mostly what people will think bitcoin is. Most of them can't even describe what are they using this bitcoin for. Some of them are using this just to have fun or may be they want to learn thing from this. They have their own reason to think what role that bitcoin plays in their life
I don't belong to all the 3 camps and for me bitcoin is just a virtual crypto currency that has value today but it may not have any value tomorrow. There are people who even know about bitcoins but don't bother to use them due to the uncertainty when it comes to the value while those people too exist who have invested in bitcoins but have suffered huge losses.
There are very less number of people who fall in the second camp category as not many do know how bitcoins are mined and how their value is determined. They just find it useful as it is a currency. There are yet many currencies than are evolving just like bitcoins did and those currencies may have b=more value than 1 BTC. Still it's adopters would be lesser than expected.
There are very less number of people who fall in the second camp category as not many do know how bitcoins are mined and how their value is determined. They just find it useful as it is a currency. There are yet many currencies than are evolving just like bitcoins did and those currencies may have b=more value than 1 BTC. Still it's adopters would be lesser than expected.
I am a part of camp 2 and think that bitcoin is one of the most interesting technological developments in our decades.
also I believe there is no reason to consider bitcoin as scam and it is far different from people scamming with bitcoin or bitcoin related.
also I believe there is no reason to consider bitcoin as scam and it is far different from people scamming with bitcoin or bitcoin related.
Jump to: