Topic: If You're Not Buying Bitcoin Now... Then You're Just Stupid. - page 2. (Read 4414 times)

Theft and haxors will be solved by Bitcorn banks and hardware wallets.  A Bitcorn VC guy really needs to get the hardware wallets out to the masses fast for $50 or less, preferably less.  And no, I don't mean a phone wallet, I mean an easy to use, dedicated BTC only wallet.  People would feel kind of awkward putting a phone into a safe or under their mattress.  They don't want to write down keys on a piece of paper either.  They want something they can take directly out of a safe then start beaming money around with wifi or something without having to worry about the device being bombarded by Russian cyber thieves.

How can you possibly save wealth when there are savages everywhere that can rob and rape our family anytime? stability is needed first before third worlders can even hope to relax and acculumate wealth. Yes, BTC is great, but you are being delusional.

How is a homeless man, with just a library computer for web access, going to spend Bitcoin in a meatspace store?

"I bought bitcoin a while back and now I feel stupid, so, everyone else better start buying now or else I will feel even more stupid"

Wow where to start with this...How exacty will bitcoin save the poor from terrible income disparity?  Bitcoin is not going to do anything to create trillions of dollars worth of weath out of thin air, and probaby no poor peope have bitcoins to start with.

Their money is safe...yeah, tell that to the 800k that was "stolen" from Gox, or any of the other people who have been ripped off, send to the wrong address, etc, with NO consumer protection.

No, the halving will cause a lesser supply, you have no idea there will be any demand at all by then.

Not billions every month, not even close.  There have been hundreds of million though over the past couple years.

"Seems imminent" has been said for the last 5 years.  We are still in a deep recession, but a collapse doesn't seem likely.  War, yes, possibly more civil wars, but collapse, not yet.

But good luck bull troll.

Where we are in terms of the shape of the downtrend looks similar to where we were in the middle of April. We could have a bit of a downtrend, and then another steep run up by the end of November, if we do something similar to back in May.

While I agree with you that is a good time to invest, This is not the only factor on the bitcoin price. There are many things that can make bitcoin lose value...

No, they'll never reject it.  They'll simply spend any excess immediately.  Spend it and immediately consume or have it stolen.  Your cash will be spent first on food.  Anything left over will probably be spent on smokes and booze.  To the homeless, it's use it or lose it.  Bitcoin can change that.

THe only way price will fall to single digits is if the protocol fails... nothing else will cause it to fail not even a killer alt coin because the network affect is stronger... I think as long as th enetwork is secure and no hacks are found you can look up.

Now you got me thinking maybe I should take a homeless person to a public library, teach them how to use btc and deposit 0.1 btc in their wallet. Could be an interesting experiment.

Oh yeah, I've never had a homeless person reject an offering of cash from me.

Savings can be withdrawn into cash with localbitcoins later.  This makes for a great savings account for the unbanked.

what part of 'savings' did you miss there? and there are stores that take bitcoin face to face, and there will be ALOT more soon.

A homeless man using a library computer...  to do what, exactly?  
Let's say this quirky homeless guy has an online wallet.  Let's say he magically managed to fund it with coin.  Now what?

How does he spend it?  He can't even order shit online to be delivered to his cardboard box--no addy.  Mebby our homeless guy renting a PO box?

Do you ever think shit through?

To respond to bolded selections, in order:

1) If you think about it, it's in no way sound to conclude that a limited supply means BTC can only go up in value forever.   Aside from the fact that a word-for-word, direct interpretation of what you suggest would imply that sell orders could never be executed, the market has fallen <50% over the past year.  Limited supply does not in any way necessitate demand.

2) BTC *could* provide new economic access to billions of people who do not currently have it, but with an open-source network infrastructure, it seems reasonable to estimate that a superior alternative might fill that niche instead.

3) The majority of people, even with an intent to use BTC, would not yet be able to rest easy with BTC because very few would be knowledgeable and disciplined enough to store their BTC in a way that removes any risk of online theft.  This is a chicken-and-egg problem though, and as time goes on I certainly expect to see near-idiot-proof wallet, storage, and exchange solutions be made easily available.

4) Aside from retouching upon the "limited supply does not necessitate demand" idea, it's unknown to what extent knowledge of the next subsidy halving is presently factored into the price.

5) People won't use BTC as a hedge if it remains highly volatile, though at the level of mass adoption volatility should theoretically be limited.  If economies immediately began dropping like flies, nobody is going to be rushing into BTC...at least not presently.

Overall, I think the first-mover advantage is hugely significant for BTC, and there's no question that business and infrastructure funding and development has never been higher.  Accordingly, I'm optimistic on BTC's future, but I wouldn't put a guarantee on it.  To me, it seems ridiculous to think BTC is the best conceived currency when, aside from popularity and network size, there already exists a handful of currencies that are superior alternatives.  However, I get preoccupied a lot by wondering if Bitcoin is simply 'good enough.'

you should look up micro loans. this will be the game changer for the poorest people on this planet.

I have seen instances where a homeless man refuses a new pair of shoes because he knows they will make him the target of thieves.  The same can be said for receipt of cash.  A homeless man knows he should spend all of the money he gets from begging that same day on things that cannot be stolen, like food/drink to be immediately consumed.  Anything not immediately consumed will be stolen that night while he sleeps.  Cash will be stolen.  No bank will give an account to someone who is truly homeless.  Banks require a home address.

A homeless man can use a library computer and localbitcoins to turn cash into Bitcoin and actually build up savings.  Bitcoin is the answer for the unbanked.

Yes btc can be used as a vessel to save ones wealth. How is someone living on less than $2 a day who can't afford to save anything going to acquire some? The whole world can't just acquire some btc and hope to get rich. Sure some of the people in the third world who lift themselves out of poverty may invest in btc, but btc is not some magic cure for the world's ills.

true if you use localbitcoins to escrow the btc.

if you just use localbitcoins.com to meet the right people and dont use it for the escrow, then theres no need for a middlesman - face to face trading.

Borrow every penny you can. Sell all your assets. Turn everything into Bitcoin as the only way is up. Death or BTC. To da moon!!!!!!

Because the unbanked of the world will now be able to save their money. As the value of each bitcoin increases dramatically over the next few years, they will finally be able to accumulate wealth, free from corrupt government influences within their countries that would desire to confiscate it.