Topic: Is Bitcoin fading away? - page 2. (Read 6186 times)
The proof that it is not fading away is that there is a constant stream of newbs coming to these boards and posting fudsy threads such as these.
Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".
Geeks have confidence in crypto-algorithms but ordinary people don't.
So linking Bitcoin to gold may be a good idea.
Geeks have confidence in crypto-algorithms but ordinary people don't.
So linking Bitcoin to gold may be a good idea.
No!
No way is Bitcoin going away. Just pick up the newspaper or search online. The thing is Bitcoin is what the masses worldwide want especially since it is so difficult to pay for things without restrictions in some countries. The value of Bitcoin has been moving in an upward trend and as things go by, it will likely level off in the near future.
It cant and will not fade away, I want to be able to live completely and independently on bitcoin, even if its 10, 15, 20 years 
I think it feels a bit that way because the price has not been doing anything spectacular. Also, people who were maybe thinking about Bitcoin are just getting lazy again and rationalizing to themselves how their money is safe in the bank. We just need some news of bank bail-outs, bail-ins, or some other trigger and it'll wake people up to Bitcoin again. 
True - the Cyprus bail-in did wonders for bitcoin back when it happened.
I agree too. Not many people related it to that Cyprus fiasco but I think they were very correlated. And, I think something like the Cyprus deal will happen again relatively soon, and it might be worse, so that could cause the BTC price to spike.
But we do need competent people building those companies. If the companies goes bankrupt after a month, we can just skip the whole endeavor and be done with it!
I as a Greek was surprised that local media had no coverage on that matter.
Greek have no media, now ...
I think it feels a bit that way because the price has not been doing anything spectacular. Also, people who were maybe thinking about Bitcoin are just getting lazy again and rationalizing to themselves how their money is safe in the bank. We just need some news of bank bail-outs, bail-ins, or some other trigger and it'll wake people up to Bitcoin again.
True - the Cyprus bail-in did wonders for bitcoin back when it happened.
I agree too. Not many people related it to that Cyprus fiasco but I think they were very correlated. And, I think something like the Cyprus deal will happen again relatively soon, and it might be worse, so that could cause the BTC price to spike.
it cannot fade away, i just bought my bitcoin miner, still shipping ..
I think it feels a bit that way because the price has not been doing anything spectacular. Also, people who were maybe thinking about Bitcoin are just getting lazy again and rationalizing to themselves how their money is safe in the bank. We just need some news of bank bail-outs, bail-ins, or some other trigger and it'll wake people up to Bitcoin again.
True - the Cyprus bail-in did wonders for bitcoin back when it happened.
I think it feels a bit that way because the price has not been doing anything spectacular. Also, people who were maybe thinking about Bitcoin are just getting lazy again and rationalizing to themselves how their money is safe in the bank. We just need some news of bank bail-outs, bail-ins, or some other trigger and it'll wake people up to Bitcoin again.
True - the Cyprus bail-in did wonders for bitcoin back when it happened.
So linking Bitcoin to gold may be a good idea.
You got it backwards. Gold should be linked to bitcoin. I have no use for gold in my day to day life. With bitcoin, I can easily buy anything I need, pizza, cars, computers, etc. With gold, I can hide it in a safe and that's about it. It's not easily divisible. It's not easily transferred. It's generally useless in day to day activities.
I don't understand why it needs to be linked to anything? Can some people really just not get over the fact that not everything needs to be backed by something physical? Cash isn't either but people seem to use that ok. Gold is just not useful as a currency at all. Bitcoin is far better, but if you want to hold something physical buy gold instead.
its neither an asset or a commodity though its a currency, and its dosn't even need to be backed by labour because its backed by a computer
network that cannot even be matched by any amount of physical labour
even if we ignored the tax classification...
bitcoin is like intellectual property, art, graphic design, game code... which (nothing related to tax) still puts it in a description of an asset.
that being said an asset, commodity, fiat, or ANYTHING else can ALSO be a currency.. so relax, bitcoins is a currency and an asset.. it just is not a commodity..
Technically, that's not true. The thing about commodities is that there's a fixed amount of them, and in that sense, bitcoin is far more like a commodity than a currency because there will never be more than 21 million bitcoins. You can't say that (with any amount) about dollars, yen, yuan, euros, any currencies. But you can say it about: gold, oil, copper, etc.
What gets mined? Copper, gold, and in a way, oil itself if you consider drilling a form of mining. And bitcoins also get "mined", just in a technological way, rather than by digging for something. So in every way except for the fact that it treats itself like a currency, bitcoin is more like a commodity than a currency. Which, of course, doesn't mean that bitcoins can't be used as a currency.
So linking Bitcoin to gold may be a good idea.
You got it backwards. Gold should be linked to bitcoin. I have no use for gold in my day to day life. With bitcoin, I can easily buy anything I need, pizza, cars, computers, etc. With gold, I can hide it in a safe and that's about it. It's not easily divisible. It's not easily transferred. It's generally useless in day to day activities.
The start-up community is rallying around Bitcoin and we're seeing millions invested in upcoming business centered on it. That, as well as the increased trading, and more merchants adopting ie: Dell, proves that Bitcoin is continuing to become more widespread.
yo mama is going to fade away.
Does it look like things are fading away?
http://www.btcinstant.com
http://www.videos4btc.info ( NSFW)
http://www.bitcoinstarter.com
Things are just starting!
Does it look like things are fading away?
http://www.btcinstant.com
http://www.videos4btc.info ( NSFW)
http://www.bitcoinstarter.com
Things are just starting!
You can't really use transaction volume as any real measure of the bitcoin economy. It's quite normal (and recommended) for owners to transfer their coins between multiple wallets for a variety of reasons.
Every week I get asked by another few people about this BTC-thingy and how it works. I commonly tell them it is like an open bank ledger with miners performing the work of a banking mainframe, balancing the books. They want to know the advantage for them, I respond with practically zero fees or forex costs when purchasing from overseas - saving around 9% by $AU > $US (3%) + Credit card fee (3%) + bank processing fee (3%). After that talk, they generally want to sign up...
Tell me how you get them to talk about it.I've tried many times and failed, and I REALLY like explaining Bitcoin.
I'll definitely keep in mind how you explain it, though. That is probably the simplest way I've seen it explained...
Every week I get asked by another few people about this BTC-thingy and how it works. I commonly tell them it is like an open bank ledger with miners performing the work of a banking mainframe, balancing the books. They want to know the advantage for them, I respond with practically zero fees or forex costs when purchasing from overseas - saving around 9% by $AU > $US (3%) + Credit card fee (3%) + bank processing fee (3%). After that talk, they generally want to sign up...
bitcoin is not fading.. its just people greed and impatience is growing.
as for fundraising. the US mint does not advertise dollars
companies do
so bitpay would advertise, coinbase would advertise.
as for trying to advertise to average joe.. you noobs still do not get it, bitcoin is still new and growing if you cant see it (obviously you cant, to believe its fading) then maybe you are not bitcoiners, but fiat investors, and the sooner you return back to fiat the better.
here is a serious thing to learn about bitcoin.
bitcoin is about individual control.
so dont whinge and moan about what the community is or isnt doing for you.. but ask yourself what are YOU doing,
and i dont mean getting the community to do something for you. EG fundraising. but what are you doing in your own little corner of the world with your own time, experience, idea's and funding..
what are YOU personally doing to help bitcoin solo style without needing others to do things for you?
what can YOU do personally on your own to help bitcoin grow?
as for fundraising. the US mint does not advertise dollars
companies do
so bitpay would advertise, coinbase would advertise.
as for trying to advertise to average joe.. you noobs still do not get it, bitcoin is still new and growing if you cant see it (obviously you cant, to believe its fading) then maybe you are not bitcoiners, but fiat investors, and the sooner you return back to fiat the better.
here is a serious thing to learn about bitcoin.
bitcoin is about individual control.
so dont whinge and moan about what the community is or isnt doing for you.. but ask yourself what are YOU doing,
and i dont mean getting the community to do something for you. EG fundraising. but what are you doing in your own little corner of the world with your own time, experience, idea's and funding..
what are YOU personally doing to help bitcoin solo style without needing others to do things for you?
what can YOU do personally on your own to help bitcoin grow?
Bit coin is on a downward trend and has been for the last 8 months. We will be lucky to the heady heights of November 2013 again.
Bitcoin isn't a share it's price varies on many factors. It's not like a company where it's based on trends or how well the company performs it's much, much more than that.
Bitcoin is a currency, not a stake in a company.
I personally think Bitcoin has a long way to go, we're still in the early phases.
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