If bitcoin ever goes mainstream - page 12.

Amph

legendary

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Quote from: West man on November 21, 2015, 09:27:53 PM

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

on the other hands this current condition with low adoption is not helping, and bitcoin will not grow ever, so we must go mainstream no matter what

or you want bitcoin to be forever used by a bunch of nerd ant that's it?

only miners can control it at this point(and they are not friends...), the government need to buy tons of asic if he want to do something about controlling bitcoin

sanadas

sr. member

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Quote from: West man on November 21, 2015, 09:27:53 PM

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

Nobody can control it if bitcoin remains an internet money even everybody tries to control it. They need the hashing power to control it.

West man

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Activity: 252

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BetcoinRakeback.com

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

Blue_Tiger73

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Quote from: Ron~Popeil on June 05, 2014, 06:15:44 PM

This new world is going to require some new ways of thinking. The old ways will no longer work. The people that come up with the new ideas will be very wealthy.

The new world is going to need new things in, like new ways of paying and new things to invest in. Bitcoin will improve the world, I believe in it.

Trading

legendary

Activity: 1455

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Nothing like healthy scepticism and hard evidence

You should read the OP.

I love bitcoin, but running an economy on bitcoin would be a disaster (for others, the late bitcoiners, and for you, if in the meantime you sold your bitcoins).

But if bitcoin starts to be a threat to fiat, I think governmental repression will escalate. I doubt "they" will let bitcoin became mainstream. That could limit drastically their power and have some severe economic consequences. And governmental repression would scare a lot of bitcoiners, making its price drop like a stone. That could ruin miners (many would have a hard time paying electricity until the difficulty adjusted) and many of the rest of bitcoiners.

However, like gold coins haven't displaced fiat, also bitcoin might stay at the fringes of the financial system, relevant mainly online, inoffensive against fiat.

In any case, repression will take some time to be adopted. There is still time to grow and to hope.

USB-S

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In XEM we trust

Quote from: makcik on November 20, 2015, 11:37:13 AM

Really? Are you serious?
If bitcoins ever go mainstream, one of my dreams will be accomplished. Bitcoins really deserve to be mainstream, and here's what I think will happen when they become mainstream.
(1) Least usage of fiat currencies-- Fiat? Cash? What's that? This is what people will ask as cash will be seen not at all.
(2) More technologically advanced-- People will get to use digital currencies and certainly people will be using technology more.
(3) Less corruption-- -- Money will be transferred by government to people directly. No ministers to eat in between.

(3)There would be no government, at least the way that they are represented at the moment. Government structure will get overhauled completely, where the minority doesn't rule the majority. It would be the opposite. However this won't happen in the near future since government control is the highest it has been since, well forever.

(2)Majority of people are monkey see, monkey do. So they would just use bitcoin because their friends use bitcoin.

(1)Who the fuck needs fiat anyways when bitcoin's mainstream.

OT: if bitcoin ever goes mainstream, I'm going to be a small whale.

makcik

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Really? Are you serious?
If bitcoins ever go mainstream, one of my dreams will be accomplished. Bitcoins really deserve to be mainstream, and here's what I think will happen when they become mainstream.
(1) Least usage of fiat currencies-- Fiat? Cash? What's that? This is what people will ask as cash will be seen not at all.
(2) More technologically advanced-- People will get to use digital currencies and certainly people will be using technology more.
(3) Less corruption-- -- Money will be transferred by government to people directly. No ministers to eat in between.

Trading

legendary

Activity: 1455

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Nothing like healthy scepticism and hard evidence

We have contradictory news on the reaction of authorities to the issue of the "islamic state" using bitcoin:

Reuters says that the UE is planning to adopt repressive measures:
http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119
http://www.businessinsider.com/r-eu-clamps-down-on-bitcoin-anonymous-payments-to-curb-terrorism-funding-2015-11

But, yesterday, the UK government said that "There is little evidence to indicate that the use of digital currencies has been adopted by criminals involved in terrorist financing, whether as a means by which to raise funds (crowd funding etc.), to pay for infrastructure (e.g. server rental), or to transfer funds."
https://www.coindesk.com/uk-treasury-digital-currencies-low-money-laundering-risk/

Another brits-continentals dispute also on this issue? This time, let's hope the brits will win.

cellard

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Quote from: Trading on November 17, 2015, 08:29:00 PM

More bad news to bitcoin. These are not really new, we already knew or suspected that the "islamic state" was using bitcoin. But this is more bad press and there is always the risk that these news provoke repressive measures from governments.

The problem isn't the funding (they have many other sources), the problem is that bitcoin is almost anonymous, hard to stop and fast. Therefore, they can get the funding from other sources, but use it to buy bitcoins and send them to their members abroad.

http://www.dw.com/en/bitcoin-islamic-states-online-currency-venture/a-18724856

http://www.newsbtc.com/2015/11/14/isil-militants-linked-to-france-terrorist-attacks-had-a-bitcoin-address-with-3-million-dollars/

https://bitcointalksearch.org/topic/bitcoin-one-of-the-terrorists-funding-sources-1252770

This was meant to happen but im not worried. When the internet started, it was always on the press about how the internet was something really creepy for criminals and pornographers to share their stuff, but as we know today, the internet was a invaluable too for makind. With Bitcoin it will be the same, so get in before its cheap (and by cheap I mean XX,XXX)

Trading

legendary

Activity: 1455

Merit: 1033

Nothing like healthy scepticism and hard evidence

More bad news to bitcoin. These are not really new, we already knew or suspected that the "islamic state" was using bitcoin. But this is more bad press and there is always the risk that these news provoke repressive measures from governments.

The problem isn't the funding (they have many other sources), the problem is that bitcoin is almost anonymous, hard to stop and fast. Therefore, they can get the funding from other sources, but use it to buy bitcoins and send them to their members abroad.

http://www.dw.com/en/bitcoin-islamic-states-online-currency-venture/a-18724856

http://www.newsbtc.com/2015/11/14/isil-militants-linked-to-france-terrorist-attacks-had-a-bitcoin-address-with-3-million-dollars/

https://bitcointalksearch.org/topic/bitcoin-one-of-the-terrorists-funding-sources-1252770

Trading

legendary

Activity: 1455

Merit: 1033

Nothing like healthy scepticism and hard evidence

Things are not decided, indeed there are people supporting bitcoin in Russia, even Putin said something positive a few months ago. The regulation I mentioned is just a proposal.

Djisamsoe

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CNBC Interview with Elvira Nabiullina - Russia Central Bank Governor:

Geoff Cutmore (CNBC): I understand you have been looking at bitcoin, can you see a time in the near future where you may be looking to hold any reserves of bitcoin or you might authorize the use of bitcoin in Russia as a legitimate currency of exchange?

Elvira Nabiullina: So far I can't imagine a situation where bitcoins would be considered a reserve currency but we are looking at how this market is developing, we are noting certain risks there and we've informed the market players that we identify these risks and because there are(inaudible) many representatives in that particular sector that could be resorted to some dubious operations and transactions. You know the kind of policy we conduct about dubious transactions, but we are watching over the development of this market and see that for consumers there are certain attractions in bitcoin's mobility, expediency, low cost, so this is something definitely the market will be welcoming so we will be watching with attention and, if necessary, regulate it.

Here is all interview: http://www.cnbc.com/2015/06/18/cnbc-interview-russia-central-bank-governor-elvira-nabiullina.html

I can see there hope for Russia. Grin

Bitcoin have to go to mainstream! It is just metter of time..

Trading

legendary

Activity: 1455

Merit: 1033

Nothing like healthy scepticism and hard evidence

More on the russian regulations banning bitcoin, under a penalty of 4 years in prison:

https://www.cryptocoinsnews.com/russian-finance-ministry-proposes-a-4-yr-prison-sentence-for-bitcoin-users/

One of the reasons stated is that bitcoin is "speculative" and carries a "high risk of changes in its value".

Therefore, let's protect people against their will and put them in jail for 4 years, even if they didn't launder money or trade in illegal goods.

Trading

legendary

Activity: 1455

Merit: 1033

Nothing like healthy scepticism and hard evidence

https://www.coindesk.com/russian-minister-confirms-plans-to-ban-bitcoin-to-fiat-conversions/

Things seem to be going for the worst in Russia

However, in China, a country much more important for bitcoin, political perspectives on Bitcoin seem to be improving.

http://cointelegraph.com/news/115435/china-unofficially-authorizes-bitcoin-price-turns-bullish

However, it seems the chinese government now is happy with Bitcoin because thinks that it has less volatility. They are mistaken, volatility won't stop. One has to wonder what would happen if Bitcoin's price real skyrocketed. Chinese authorities fear an active that have huge valuations, because after a big boom always come a bust. And that can ruin the savings of many chinese investors and create social and political unrest, jeopardizing the chinese government.

Do you remember what was the trigger of the major crash of 5 December 2013? Yes, chinese governmental repression. The chinese Central bank published a note warning against bitcoin and forbidding chinese banks to deal with it (http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions ). At 29 November 2013, we had a first huge crash, but the price had recovered.

It seems Bitcoin has two both probable futures: becoming a threat to all currencies with a huge price or to die-off/survive on the fringes of the Internet, because of governmental repression. And both are simultaneous possible in different moments. A huge success followed by repression.

jeffthebaker

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Quote from: codishmumu on October 18, 2015, 06:24:39 PM

Quote from: jeffthebaker on October 18, 2015, 05:54:58 PM

Quote from: codishmumu on October 18, 2015, 05:46:03 PM

It will be when I make my merchandise. Don't worry you guys. I'm gonna do everything in my power to make these items beautiful and draw dropping to give wonderful advertisement for Satoshi's work. All you have to do is give me a chance. I love you all very much from the bottom of my heart because you've honestly given me concepts to believe in, and I'll honestly do anything to contribute to the growth of this currency.

One day, bitcoin will be worth one million USD each, and we can all enjoy our success together.

If you can create artwork that pushes Bitcoin into mainstream, every day life; I will quit everything, pack my bags, and move to wherever in the world you are and work under you as your assistant.

Under me? With me.

I don't believe any of us are higher than the next worker. No man or woman is an island. ^___^

Right now, I'm designing fashion merchandise with the bitcoin symbol in gold, and without the circle in the background. I will also be hand sculpting bitcoin symbol chains, bracelets, earrings, and various bracelets. I am also going to be working on some hand knitted sweaters, hats, scarves, gloves, arm warmers and so on with the bitcoin symbol hand embroidered onto them in gold embroidery floss.

I'm almost done with my first scarf and matching hat. From there, I will be hoping to get back on the mascot that I created for Bitcoin as well. I'm honestly excited. I know these items will look fabulous and really get the word out on Bitcoin currency.

Oh, didn't realize what you were referring to haha, I actually think I saw both of your threads about the scarf and the mascot.

As far as logo changes go, I'm all for it. Branding and logos have significant psychological impact, and I really think that changing the logo to gold would make a huge difference in the eyes of potential Bitcoiners. Good luck

codishmumu

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Quote from: jeffthebaker on October 18, 2015, 05:54:58 PM

Quote from: codishmumu on October 18, 2015, 05:46:03 PM

It will be when I make my merchandise. Don't worry you guys. I'm gonna do everything in my power to make these items beautiful and draw dropping to give wonderful advertisement for Satoshi's work. All you have to do is give me a chance. I love you all very much from the bottom of my heart because you've honestly given me concepts to believe in, and I'll honestly do anything to contribute to the growth of this currency.

One day, bitcoin will be worth one million USD each, and we can all enjoy our success together.

If you can create artwork that pushes Bitcoin into mainstream, every day life; I will quit everything, pack my bags, and move to wherever in the world you are and work under you as your assistant.

Under me? With me.

I don't believe any of us are higher than the next worker. No man or woman is an island. ^___^

Right now, I'm designing fashion merchandise with the bitcoin symbol in gold, and without the circle in the background. I will also be hand sculpting bitcoin symbol chains, bracelets, earrings, and various bracelets. I am also going to be working on some hand knitted sweaters, hats, scarves, gloves, arm warmers and so on with the bitcoin symbol hand embroidered onto them in gold embroidery floss.

I'm almost done with my first scarf and matching hat. From there, I will be hoping to get back on the mascot that I created for Bitcoin as well. I'm honestly excited. I know these items will look fabulous and really get the word out on Bitcoin currency.

jeffthebaker

legendary

Activity: 1526

Merit: 1034

Quote from: codishmumu on October 18, 2015, 05:46:03 PM

It will be when I make my merchandise. Don't worry you guys. I'm gonna do everything in my power to make these items beautiful and draw dropping to give wonderful advertisement for Satoshi's work. All you have to do is give me a chance. I love you all very much from the bottom of my heart because you've honestly given me concepts to believe in, and I'll honestly do anything to contribute to the growth of this currency.

One day, bitcoin will be worth one million USD each, and we can all enjoy our success together.

If you can create artwork that pushes Bitcoin into mainstream, every day life; I will quit everything, pack my bags, and move to wherever in the world you are and work under you as your assistant.

codishmumu

member

Activity: 112

Merit: 10

It will be when I make my merchandise. Don't worry you guys. I'm gonna do everything in my power to make these items beautiful and jaw dropping to give wonderful advertisement for Satoshi's work. All you have to do is give me a chance. I love you all very much from the bottom of my heart because you've honestly given me concepts to believe in, and I'll honestly do anything to contribute to the growth of this currency.

One day, bitcoin will be worth one million USD each, and we can all enjoy our success together.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: RyanX on October 18, 2015, 06:39:54 AM

Quote from: MinerHQ on October 17, 2015, 09:55:30 AM

Quote from: maokoto on October 17, 2015, 09:42:35 AM

I think that it will be take long for it to be used as regular money.

In fact, regular money took long to be used in its electronic version. I still know people that do not trust much on online bank transfers and payments. Due to Bitcoin being full online, well, it will take some time.

I am happy if it is a way to store value for some time.

I don't think even after Long time it will happen. Very difficult to replace the existing currencies with Bitcoin.

Bitcoin will coexist with existing currency for a long time.

probably, forever, like other fiat money are coexisting with their counterpart

and you can put there in the magic hat, some other crypto aside form bitcoin

MinerHQ

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Quote from: RyanX on October 18, 2015, 06:39:54 AM

Quote from: MinerHQ on October 17, 2015, 09:55:30 AM

Quote from: maokoto on October 17, 2015, 09:42:35 AM

I think that it will be take long for it to be used as regular money.

In fact, regular money took long to be used in its electronic version. I still know people that do not trust much on online bank transfers and payments. Due to Bitcoin being full online, well, it will take some time.

I am happy if it is a way to store value for some time.

I don't think even after Long time it will happen. Very difficult to replace the existing currencies with Bitcoin.

Bitcoin will coexist with existing currency for a long time.

Yes it will be there for long time but it can't replace with any existing currencies and it will be used as alternative currency to buy online.

Topic: If bitcoin ever goes mainstream - page 12. (Read 29064 times)