The OP risks a logical fallacy in implicitly defining "everyday" transactions as ones that support his thesis and defining "non-everyday" transactions as those that don't.
Also, on the Iran example from earlier. It is a fact that Iran and Turkey have been using gold imports shuttled through Dubai to fund natural gas transfers.
Here is just one story about it: http://www.reuters.com/article/2013/03/29/turkey-iran-sanctions-idUSL5N0CL0UK20130329
This implies that there are lots of "non-everyday" funding needs that are being handled by non-traditional financing means. There is a role here for bitcoin.
Here's an everyday situation: At the gas station last night there was a $0.16 price differential between cash and credit. I had the cash but knew that I needed it in the morning. So I spent the cash for gas to get the savings then had to make an extra trip to find an ATM (at my bank to avoid the $3 ATM charge). Had there been an easy, electronic cash equivalent option -- like bitcoin could have provided, I would have taken it.
His argument is like saying in the late 70's that email is at it's maximum extension because it can't send pictures, you can't sign legal documents with it and the USPS is so cheap and easy.
Yes there is work to be done to bitcoin, and it's slowly getting done.
Topic: BTC will never extend more - page 4. (Read 12659 times)
if your wallet is stolen then you cannot do any thing just have some red signals like me in your trust and try to do some better for you and never try to lend from here
1) Scams
Bitcoins is not safe for customers. If your wallet is hacked, noone will never give you back your fund. You can't file a complaint and upload evidence. You are fucked up. Therefore, it will never be reach a massive adoption, if it does not become safer. And it can not become safer because of what it is: irreversible transactions.
How many vendors are payed with stolen credit cards ?
The security can be increased even more with Namecoin identity systems where the vendor is going through an identification and his public key and other details are stored in an id/vendor
http://dot-bit.bit/Namespace:Identity
I don't get your point. How could bitcoin eliminates scam? (sic).
How many vendors are payed with stolen credit cards? => How many vendors are payed with stolen/compromised btc wallets?
Exactly the contrary is the case. Bitcoin eliminates scam if used properly.
How many vendors are payed with stolen credit cards ?
The security can be increased even more with Namecoin identity systems where the vendor is going through an identification and his public key and other details are stored in an id/vendor
http://dot-bit.bit/Namespace:Identity
How many vendors are payed with stolen credit cards ?
The security can be increased even more with Namecoin identity systems where the vendor is going through an identification and his public key and other details are stored in an id/vendor
http://dot-bit.bit/Namespace:Identity
I don't think Namecoin does what you describe. Identifying using a namecoin address is about as convincing as identifying with a Bitcoin address. What namecoin brings to the table is irrevocable, hijack resistant domain names.
That url is broken even after I replace .bit with .net
Edit: Plus with .onion records, DNS servers no longer need a public IP address.
1) Scams
Bitcoins is not safe for customers. If your wallet is hacked, noone will never give you back your fund. You can't file a complaint and upload evidence. You are fucked up. Therefore, it will never be reach a massive adoption, if it does not become safer. And it can not become safer because of what it is: irreversible transactions.
How many vendors are payed with stolen credit cards ?
The security can be increased even more with Namecoin identity systems where the vendor is going through an identification and his public key and other details are stored in an id/vendor
http://dot-bit.bit/Namespace:Identity
Actually whenever my credit card information was stolen or hacked or whatever, i don't want to know, it happened couple times, bank gladly deleted those transactions from my balance (it takes me couple minutes to call) and I got new card on second day for free. Now try to do this with your wallet.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive feature of bitcoin - inability find the owner.
If you buy something where you need to be anonymous you don't use Namecoin identity.
I don't think banks are evil, just the people that RUN the banks! 
While all of these reasons are definite existing problems, many of them will disappear with greater adoption.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
I can agree that digital currencies have very important plus, it is inability to print it again and again.
But governments not exactly want it, they probably WANT TO HAVE ABILITY TO PRINT IT MORE AND MORE IF NEEDED.
Also, no government in the world will accept currency with no ability to secure transactions, it is just absurd. This exactly will be huge obstacle to "greater adoption".
So bitcoin will probably grow, but mostly for use on black markets or whenever people want to hide their identity, so basically for shady markets.
It will only slow down greater adoption. That's not gonna stop anything in the long run though.
With bitcoin, central banks are now becoming totally useless. No matter how hard they will try, they will remain much more irrelevant for the future of payments.
The monetary system behind bitcoin is rock solid, the actual debt based monetary system from the fractional reserve is completely flawed. It's only a matter of time before the second one will crash and burn by itself. But during that time, people won't baillout the banks anymore.
While all of these reasons are definite existing problems, many of them will disappear with greater adoption.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
I can agree that digital currencies have very important plus, it is inability to print it again and again.
But governments not exactly want it, they probably WANT TO HAVE ABILITY TO PRINT IT MORE AND MORE IF NEEDED.
Also, no government in the world will accept currency with no ability to secure transactions, it is just absurd. This exactly will be huge obstacle to "greater adoption".
So bitcoin will probably grow, but mostly for use on black markets or whenever people want to hide their identity, so basically for shady markets.
While all of these reasons are definite existing problems, many of them will disappear with greater adoption.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
Actually whenever my credit card information was stolen or hacked or whatever, i don't want to know, it happened couple times, bank gladly deleted those transactions from my balance (it takes me couple minutes to call) and I got new card on second day for free. Now try to do this with your wallet.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Funny. I was also scammed with my credit card and I had to wait 2 hours on the phone to find finally found that my bank don't give a shit. I lost my money and now I'm using bitcoin because of that. I guess you was more lucky than me.
I don't know where you are, probably Russia or North Korea (I am not sure North Korea citizens use credit cards though).
First time card was scammed or whatever happened, my bank actually called me about suspicious transactions. Second time I called them and it took if not two minutes, but not much more. They apologize and fixed it right away.
Nope, Canada
Actually whenever my credit card information was stolen or hacked or whatever, i don't want to know, it happened couple times, bank gladly deleted those transactions from my balance (it takes me couple minutes to call) and I got new card on second day for free. Now try to do this with your wallet.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Funny. I was also scammed with my credit card and I had to wait 2 hours on the phone to find finally found that my bank don't give a shit. I lost my money and now I'm using bitcoin because of that. I guess you was more lucky than me.
I don't know where you are, probably Russia or North Korea (I am not sure North Korea citizens use credit cards though).
First time card was scammed or whatever happened, my bank actually called me about suspicious transactions. Second time I called them and it took if not two minutes, but not much more. They apologize and fixed it right away.
Actually whenever my credit card information was stolen or hacked or whatever, i don't want to know, it happened couple times, bank gladly deleted those transactions from my balance (it takes me couple minutes to call) and I got new card on second day for free. Now try to do this with your wallet.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive for bitcoin feature - inability find the owner.
Funny. I was also scammed with my credit card and I had to wait 2 hours on the phone to find finally found that my bank don't give a shit. I lost my money and now I'm using bitcoin because of that. I guess you was more lucky than me.
1) Scams
Bitcoins is not safe for customers. If your wallet is hacked, noone will never give you back your fund. You can't file a complaint and upload evidence. You are fucked up. Therefore, it will never be reach a massive adoption, if it does not become safer. And it can not become safer because of what it is: irreversible transactions.
How many vendors are payed with stolen credit cards ?
The security can be increased even more with Namecoin identity systems where the vendor is going through an identification and his public key and other details are stored in an id/vendor
http://dot-bit.bit/Namespace:Identity
Actually whenever my credit card information was stolen or hacked or whatever, i don't want to know, it happened couple times, bank gladly deleted those transactions from my balance (it takes me couple minutes to call) and I got new card on second day for free. Now try to do this with your wallet.
Also I would like anybody to find a deal for me: I want to buy new TV and have free additional one year warranty as credit cards gives me.
Namecoin identity systems will remove the most attractive feature of bitcoin - inability find the owner.
You can't compare paypal and bitcoin.
Bitcoin is like a currency, like USD or EUR you can use bitcoins to buy stuff online.
Paypal is like VISA or MASTERCARD, just a way to spend dollars or euros. You can also use cash.
Bitcoin is like a currency, like USD or EUR you can use bitcoins to buy stuff online.
Paypal is like VISA or MASTERCARD, just a way to spend dollars or euros. You can also use cash.
I dont get you. I think about bitcoin as a global payment system, where no govt can set the rulez. It is like torrent, from people to people, no regulations necessary
Yes you make some good points but you also exaggerate and focus on extremes...black and white thinking. Instead of saying "Bitcoin will only grow about 2% a year from now on", you say "BTC will never extend more" which of course is utter and total nonsense. This lazy approach and disregard for reality makes your case much weaker, all around.
Agreed. Bitcoin is intended to be used as online payment system, like paypal or neteller, but without chargeback issues and hassle for identification. Does anybody question whether paypal overtake fiat 
You can't compare paypal and bitcoin.
Bitcoin is like a currency, like USD or EUR you can use bitcoins to buy stuff online.
Paypal is like VISA or MASTERCARD, just a way to spend dollars or euros. You can also use cash.
That is why some people wants to make bitcoin ATM, and so on.
BTC is not going to replace fiat.
BTC is not going to rule the world.
BTC was not intended to.
BTC is not going to rule the world.
BTC was not intended to.
Agreed. Bitcoin is intended to be used as online payment system, like paypal or neteller, but without chargeback issues and hassle for identification. Does anybody question whether paypal overtake fiat
Here are some situations where using bitcoin might be preferable:
1. The merchant won't sell goods under a certain value by credit card.
2. The merchant will add the credit card/debit card fees to the transaction - e.g. low budget airlines - so the consumer pays the fees directly.
3. Buying goods in parts of the world where credit card/debit card fraud is very common.
4. Buying goods from merchants who don't have the ability to take credit or debit cards (street stalls etc)
1. The merchant won't sell goods under a certain value by credit card.
2. The merchant will add the credit card/debit card fees to the transaction - e.g. low budget airlines - so the consumer pays the fees directly.
3. Buying goods in parts of the world where credit card/debit card fraud is very common.
4. Buying goods from merchants who don't have the ability to take credit or debit cards (street stalls etc)
In most of those cases, Bitcoin might be preferable to credit card, but not to cash, which will always be the simplest and cheapest option for low value face to face transactions.
For 2, are there any that add fees to debit card transactions? Ryanair, known for being cheapskates, don't, only to credit card transactions.
And how many street stalls who can't take debit cards are instead going to have bitcoin processing set up?
(And for 3, I'm going to take a wild guess and say that parts of the world where credit card fraud is common are also parts of the world where fraudulent merchants are common, and you would value the extra protection credit cards offer.)
Again, I've never said there are no uses for Bitcoin, I just think that people who see it taking over the world and being the sole, or even majority, form of transaction, are fooling themselves.
For the majority of boring, mundane, everyday, transactions, especially face-to-face ones, Bitcoin is a solution in search of a problem.
That isn't to say that there are not problems for which it is a solution, but there seem to be far too many evangelists here who see it as the One True Solution to all ills.
Actually another very common situation which ordinary people encounter is spending on holiday. Buying foreign currency is expensive and tends to leave you with a heap of unused coins and notes. And using even debit cards abroad incurs exchange fees. It would be genuinely useful to be able to go abroad and not even have to think about any of that, but instead just pay by phone in bitcoin.
Jump to: