Topic: Do you sometimes think Bitcoin will fail? (Read 9215 times)

This industry had plenty of money invested and literally worked themselves out of a job because they did not consider the external costs of their actions. This is going to be the same as BTCitcoin the industry will mine itself to death and fail. But I think just like the 16th century energy market that people will never look back and this will lead to a currency/internet/blockchain revolution. But I do not think that Bitcoin will be the end all be all. To be honest I don't think it has much life left. I am just hoping it can last long enough to expand crypto adoption. I am selling out and moving on to NODE since I think the better network topology of PoA is more sustainable but who knows something better may come along or NODE may fold up due to marketing or development shortcomings. I don't see this as a failure for Bitcoin it had it's role to play but I think that time has come and is going. A nostalgic part of me hopes I am wrong but the economics and history say otherwise. Time will tell.

There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail.
There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg.

Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin.

What do you want to mean by fall? If you want to mean that Bitcoin will vanished some day, then i don't agree with you.

Bitcoin, still being in an experimental phase, has an 80% probability of going to zero, as the value of bitcoin is basically driven by people’s acceptance.”[/i]

I guess then people will need to attach an appropriate fee to the TX (whatever appropriate means) and validation will continue as before. So using bitcoin's never going to be free, and maybe once mining's over with, that cost will jump a little.. still, it'll be cheaper than an international credit card transaction by a long way, that's for sure.

For my selfishness, bitcoin already is a success. I've already received a good ROI, so even if bitcoin goes to 0 in a month I'll be way better than before, anything more is a success for me.
 But I personally doubt bitcoin will fail in the long run. Maybe replaced by something better. Bitcoin is p2p, so not easily banned, and the blockchain tech is really a innovation.

There have been so many things that when they appered no one would say that they would go much far away, and they ended up conquering the world. Why not bitcoin? I think its good stay anyway, if it fails(not to happen soon) you can get good ROI, if it success you might be the next Bill Gates.





What's wrong with gambling and porn? They have been here way before bitcoin, and I think that 99% of people from gambling and porn industry don't even know what bitcoin is. Also the closest porn thin I've seen in the bitcoin world are cam girls that accept bitcoin.

drugs: the drug money is mostly cash and fiat. Addicted people have thei brain too damaged to learn something relatively complex like bitcoin, and the druglords sometimes are poor people without access to education and computer. For me the cash money is way more drug-related than bitcoin, even in the best case scenario of adoption. About 50% of money paper has traces of cocaine, when they arrested that big Mexican cartel guy they found a billion in cash, not in bitcoins, at least 25% of Wall Street money has relation with drug money laundering, and so on.

51% attack: would be too expensive, and with limited concrete effect, except the big crash in price that would happen. Also anyone with so much hash power would be making a huge profit, so it would be like burn a stack of $100 and all your future incomes, like Joker did in Batman the Dark Knight. I think no one rational enough to get at that point would be stupid to do such thing. Even if he's against bitcoin, there are more discrete and effective ways to hurt it in the long run while taking profit.
Plus the CS already made miracles with software and algorithms, so it is possible that when bitcoin skyrockets, or after a 51% attack, these issues would disappear.

CP: when they say about that, they think more about deep web and tor, not about bitcoin.




I think you're right, Bitcoin can be currently down and will cost a bit because a lot of things that affect him, but the long-term concept of Bitcoin will spread over the world and he will succeed

Pardon my stupidness but once every bitcon has been mined, who is going to take care of the validation process since there will be no more reward ?

Having doubt is good.

Can developer make improvement to make bitcoin better?