Topic: Doubts about bitcoin these days... - page 2. (Read 5500 times)
Wow.
Relax, calm down. Bitcoin is not going anywhere. There will be safe exchanges in the future, bitcoin is safe to use when used properly. no need to worry. Just sit tight and HODL.
We are at the start of a revolution and we are early adopters.. get on board or
get slaughtered!!!
The reason i switched from forex to bitcoin was because The charts already printed a self fueld crash that wont relent.. take a look at gbp usd or eur usd.. they all point to the same result.. I just didnt know how to play it.. the scum market makers wouldnt honor trades if they went bankrupt so I had to find a safer
hedge against collapse of fiat.. enter
bitcoin. It shrugs off bad news with upticks.. the power is growing with awareness of the inivitable collapse our current system which the banking cartels "sophisticated" monetary tools are supposed to help avoid and help prosper...
Infact we are not even growing any more in economic sense.. read
up on Chris Martensons ebook about our financial system and you will see the 3 Es are converging into one path of that of bitcoin as a light which guides us out of this mess.. Energy Economy Environment are all coming to a head pressed by hard limits of a physical planet... Unless we can colonize mars soon we wont
sustain our current system much longer at the exponential rate of decay we experience today... I feel we are in the middle of the tornado.. the silence before all hell breaks loose. 2008 was just a hint or preview that change is on its way... shape up or slip out as my favourite game character would say.
get slaughtered!!!
The reason i switched from forex to bitcoin was because The charts already printed a self fueld crash that wont relent.. take a look at gbp usd or eur usd.. they all point to the same result.. I just didnt know how to play it.. the scum market makers wouldnt honor trades if they went bankrupt so I had to find a safer
hedge against collapse of fiat.. enter
bitcoin. It shrugs off bad news with upticks.. the power is growing with awareness of the inivitable collapse our current system which the banking cartels "sophisticated" monetary tools are supposed to help avoid and help prosper...
Infact we are not even growing any more in economic sense.. read
up on Chris Martensons ebook about our financial system and you will see the 3 Es are converging into one path of that of bitcoin as a light which guides us out of this mess.. Energy Economy Environment are all coming to a head pressed by hard limits of a physical planet... Unless we can colonize mars soon we wont
sustain our current system much longer at the exponential rate of decay we experience today... I feel we are in the middle of the tornado.. the silence before all hell breaks loose. 2008 was just a hint or preview that change is on its way... shape up or slip out as my favourite game character would say.
I love these threads. Time to buy.
... For Bitcoin to take the sort of jump that all Bitcoiners are rooting for, it will take an economic crisis...
+1
or a political instability.
My money is on Putin to deliver this.
The parallels between him and Hitler are just too many to ignore.
Came from nothing. Ignored by peers, probably developed inferiority complex early in life.
Came to power by force and stays in power by force. His nationalistic promises of "Greater Russia" have too much of the "Lebensraum" sound to it.
Annexed neighbouring country by force on a pretext of "saving its own people". Surrounds himself with advisers that agree with him.
Tries to lift his image by pretending to be a super macho man.
Hitler was delusional so is Putin.
Russians overwhelmingly support their leader, so did Germans in the summer of 1939.
I expect the unexpected from this guy very soon.
Get a grip.
Although I wouldn't fancy living under his rule if it were not for Putin we would be 20 steps further along the road to WW3.
The US is pushing ultimately towards China. Under absolutely no circumstances, can they afford a war with Russia, but they do need to knock Russia into compliance before they can really start to bring the boot down on China, but Putin isn't having it and thank god that he isn't.
... For Bitcoin to take the sort of jump that all Bitcoiners are rooting for, it will take an economic crisis...
+1
or a political instability.
My money is on Putin to deliver this.
The parallels between him and Hitler are just too many to ignore.
Came from nothing. Ignored by peers, probably developed inferiority complex early in life.
Came to power by force and stays in power by force. His nationalistic promises of "Greater Russia" have too much of the "Lebensraum" sound to it.
Annexed neighbouring country by force on a pretext of "saving its own people". Surrounds himself with advisers that agree with him.
Tries to lift his image by pretending to be a super macho man.
Hitler was delusional so is Putin.
Russians overwhelmingly support their leader, so did Germans in the summer of 1939.
I expect the unexpected from this guy very soon.
I really really really hope you are wrong !
Building a quantum computer capable of reversing an ECDSA curve on the order of thousands of bits will make a huge disturbance in the force. it will be very easy to change algorithms before it becomes a problem. if such a computer were to be built before the algorithm could be changed but code was ready in advance, then Gavin could issue a broadcast to shutdown the network and all of the balances be transferred before the unique single computer could reverse the keys of the second wallet.
Here's a new approach to this thread:
A free-market fixed-supply commodity-based currency was first invented by Thomas Edison in the 1920s and became widely adopted. Since then, several different versions of this currency have been reinvented and implemented. However, none of these are here today. They have all been squashed by the fed, central banks, and governments.
Nah internet didnt exist A free-market fixed-supply commodity-based currency was first invented by Thomas Edison in the 1920s and became widely adopted. Since then, several different versions of this currency have been reinvented and implemented. However, none of these are here today. They have all been squashed by the fed, central banks, and governments.
Here's a new approach to this thread:
A free-market fixed-supply commodity-based currency was first invented by Thomas Edison in the 1920s and became widely adopted. Since then, several different versions of this currency have been reinvented and implemented. However, none of these are here today. They have all been squashed by the fed, central banks, and governments.
A free-market fixed-supply commodity-based currency was first invented by Thomas Edison in the 1920s and became widely adopted. Since then, several different versions of this currency have been reinvented and implemented. However, none of these are here today. They have all been squashed by the fed, central banks, and governments.
... For Bitcoin to take the sort of jump that all Bitcoiners are rooting for, it will take an economic crisis...
+1
or a political instability.
My money is on Putin to deliver this.
The parallels between him and Hitler are just too many to ignore.
Came from nothing. Ignored by peers, probably developed inferiority complex early in life.
Came to power by force and stays in power by force. His nationalistic promises of "Greater Russia" have too much of the "Lebensraum" sound to it.
Annexed neighbouring country by force on a pretext of "saving its own people". Surrounds himself with advisers that agree with him.
Tries to lift his image by pretending to be a super macho man.
Hitler was delusional so is Putin.
Russians overwhelmingly support their leader, so did Germans in the summer of 1939.
I expect the unexpected from this guy very soon.
Very scary concept; I hope time will tell otherwise.
I also see some nasty parallels. That said, the United States has completely lost its moral compass and the world is a very scary and volatile place right now.
If you dont want to completely cash out but get out of the game then I think a good strategy would be to trade for a bunch of POS coins and just leave wallets open for a few years.
What really makes bitcoin is still the bitcoin believers- if everyone panicked in every down cycle, bitcoin would have long been dead. The bitcoin believers are people who have enough of an understanding of the present financial systems and the issues with it, and enough knowledge of the functioning of bitcoin to realize what the potential impact is. The bigger that community is, the bigger the price will be.
If you consider the percentage of the population who has a) access to enough technology b) the capacity to understand bitcoin's potential and c) money, it is clear that a and b can continually increase, resulting in more demand for bitcoin. While some people may get bitcoin in two days, it may take some people two months. For others it may take two years. Some people are more cautious- but no one wants to miss the boat.
Sure, there is a lot of bad press- a lot of it from people who are upset that they missed the boat already and want to see bitcoin fail so they can say "I told you so!".
Bitcoin represents a return of the issuing power of currency to the people- well, the people who can afford the mining hardware. What this effectively means is that a great deal of the wealth of the planet will be shifting from the hands of the older generation into the hands of a younger, more forward thinking group of people.
This renewal is just part of nature- in forests, more and more branches will fall on the ground and decay, and as the bigger trees soak up all of the light, the underbrush doesn't have a chance to grow. The biodiversity of the forest, and the vitality, decrease. Finally, so much fuel piles up that the risk of fire becomes greater and greater. The forest will inevitably burn, and then all kinds of new plants will take root and blossom. Then these plants will grow up and the process repeats.
A fire started in the last financial crisis, but the technology to suppress the fire was a little more advanced than it was in the great depression- this enabled containing the fire for a while. The fact is though, there is a whole lot of dry fuel for fire piled up, and eventually there is going to be a lighting strike or some teenagers playing with bottle rockets after an extended drought and....
The remedy for doubt is to increase knowledge. Study the global financial system and world politics, and consider how is bitcoin going to affect this? Internet literacy continues to increase, there is a need for more efficient remissions and payment systems. Think about cany crush- they are making millions with 1 dollar credit card payments.
As for personal responsibility, yeah there are always people who don't want to take responsibility, who want somebody else to take responsibility for them. The future belongs to the bold. If you are afraid to take risks, just sell your coins and become what I have heard called on this forum one of the "weak hands." Maybe you can get a cool job someday working for a bitcoin entrepreneur who decides to invest their fortune in community development or creating new kinds of housing developments to help people adapt to globalization and icnreasing commodity prices- because not all bitcoin investors are greedy and just in it for the money, although the greedy people help to prop up the price.
The more people we have who believe in bitcoin and are committed to the movement, the higher the prices we will be able to support. The irony is that this means holding and spending bitcoin no matter what happens. So in other words, by not caring if we get rich or not, we will get rich. Seek knowledge and your faith will increase.
If you consider the percentage of the population who has a) access to enough technology b) the capacity to understand bitcoin's potential and c) money, it is clear that a and b can continually increase, resulting in more demand for bitcoin. While some people may get bitcoin in two days, it may take some people two months. For others it may take two years. Some people are more cautious- but no one wants to miss the boat.
Sure, there is a lot of bad press- a lot of it from people who are upset that they missed the boat already and want to see bitcoin fail so they can say "I told you so!".
Bitcoin represents a return of the issuing power of currency to the people- well, the people who can afford the mining hardware. What this effectively means is that a great deal of the wealth of the planet will be shifting from the hands of the older generation into the hands of a younger, more forward thinking group of people.
This renewal is just part of nature- in forests, more and more branches will fall on the ground and decay, and as the bigger trees soak up all of the light, the underbrush doesn't have a chance to grow. The biodiversity of the forest, and the vitality, decrease. Finally, so much fuel piles up that the risk of fire becomes greater and greater. The forest will inevitably burn, and then all kinds of new plants will take root and blossom. Then these plants will grow up and the process repeats.
A fire started in the last financial crisis, but the technology to suppress the fire was a little more advanced than it was in the great depression- this enabled containing the fire for a while. The fact is though, there is a whole lot of dry fuel for fire piled up, and eventually there is going to be a lighting strike or some teenagers playing with bottle rockets after an extended drought and....
The remedy for doubt is to increase knowledge. Study the global financial system and world politics, and consider how is bitcoin going to affect this? Internet literacy continues to increase, there is a need for more efficient remissions and payment systems. Think about cany crush- they are making millions with 1 dollar credit card payments.
As for personal responsibility, yeah there are always people who don't want to take responsibility, who want somebody else to take responsibility for them. The future belongs to the bold. If you are afraid to take risks, just sell your coins and become what I have heard called on this forum one of the "weak hands." Maybe you can get a cool job someday working for a bitcoin entrepreneur who decides to invest their fortune in community development or creating new kinds of housing developments to help people adapt to globalization and icnreasing commodity prices- because not all bitcoin investors are greedy and just in it for the money, although the greedy people help to prop up the price.
The more people we have who believe in bitcoin and are committed to the movement, the higher the prices we will be able to support. The irony is that this means holding and spending bitcoin no matter what happens. So in other words, by not caring if we get rich or not, we will get rich. Seek knowledge and your faith will increase.
I was thinking perhaps it is time for BTC to not be so anonymous anymore,but each coin is imprinted with biometric identifiers so even if stolen they would be marked.
No. Take better care of your money.
I actually do agree with the OP to some extent.I did lose some coins during this gox fiasco and have taken a pause from BTC to reflect on the loss.The bitcoin exchanges have become a major problem in the last few years and users interested in BTC have become the scapegoat of those losses .BTC exchanges,money and greed I don't think were ever the intent of BTC,but slowly and surely it has matured alongside.1/2 billion dollars is a lot to lose and for MT Gox to get away with.
I was thinking perhaps it is time for BTC to not be so anonymous anymore,but each coin is imprinted with biometric identifiers so even if stolen they would be marked.
I was thinking perhaps it is time for BTC to not be so anonymous anymore,but each coin is imprinted with biometric identifiers so even if stolen they would be marked.
God only knows what is making it hold in the $600's? I was sure it would drop all the way to $100 or less again.
Clearly you should not attempt to make a living making predictions.
God told me that it was demand which was holding it up. Demand from people who want to use it unique properties, build businesses on it, discount future value, preserve value, transact freely, avoid thieves, transmit funds, publish transactions, etc.
It would not be like mining bitcoins because the difficulty would not increase. When the hackers get efficient enough at decrypting or brute forcing the address, all the coins will start to be compromised at once. They will be free bitcoins, instantly forfeited by anyone who did not switch over. If enough people did not switch, the supply side will be thrown into chaos. Think about the 1,000,000 coins that haven't been touched in years. Think about all the presently lost coins.
in any sensible protocol update it would not be LIKE mining, it would BE mining. any coins which did not make the Exodus cut off would be immediately made available to miners.
I have all my bitcoin saved in storage myself with just one paper backup I only have access to. I just can only wish things would get better. If you are in your 40's and think your bitcoin hoard is going to help you later on in life I wouldn't count on it. Just for bitcoin to get out of the BETA stage could take 15+ years. By the time bitcoin is viable for you to use, you'll be long dead. If you are hoarding for your kids, then that may work out a little better. But not someone from this era. Ancient Rome started with money and it took hundreds of years for that really to catch on. Given the perspective, bitcoin is just a little dot on the time line here. I would just like to see more positive news out there on the bitcoin industry. God only knows what is making it hold in the $600's? I was sure it would drop all the way to $100 or less again.
Ancient Romans weren't online. The internet is a time compression machine. If bitcoin hasn't gone mainstream in 15 years time, then either the project has failed, or another coin has succeeded.
I have all my bitcoin saved in storage myself with just one paper backup I only have access to. I just can only wish things would get better. If you are in your 40's and think your bitcoin hoard is going to help you later on in life I wouldn't count on it. Just for bitcoin to get out of the BETA stage could take 15+ years. By the time bitcoin is viable for you to use, you'll be long dead. If you are hoarding for your kids, then that may work out a little better. But not someone from this era. Ancient Rome started with money and it took hundreds of years for that really to catch on. Given the perspective, bitcoin is just a little dot on the time line here. I would just like to see more positive news out there on the bitcoin industry. God only knows what is making it hold in the $600's? I was sure it would drop all the way to $100 or less again.
I really do hate out US banking industries, but I also never had $1 stolen from me or worry about it.
This is not true. Inflation steals 2% of your savings every year. And that's only if it's kept at 2%.
Your money was stolen to bail out Wall Street banks. It will be paid to them via taxes and/or inflation.
The average debt per American is $55K. How do you think it will be paid? It will be stolen.
This is one big reason I like Bitcoin. I don't want to have my money stolen by the govt. Therefore I take my chances with Bitcoin. I've had Bitcon stolen too, but I've had more fiat stolen in the ways I described above. Most of my coins are in cold storage now.
If you don't buy this argument, that's perfectly understandable. Perhaps it's not for you.
I agree that it's dangerous to hold deposit Bitcoin with trusted third parties. But it was never designed for that. And our tools for using/holding Bitcoin are growing stronger every day. It's an ecosystem in evolution.
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