Is Bitcoin fading away? - page 4. | Bitcointalksearch.org

Bitcoinpro

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Quote from: prophette on July 26, 2014, 11:00:39 AM

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.

could u explain this in laymens terms,

pedrog

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Quote from: prophette on July 27, 2014, 01:16:41 AM

Quote from: pedrog on July 26, 2014, 11:07:17 AM

The main feature of bitcoin is being decentralized, turning it into e-gold would be killing it.

The main problem now is to make more people to accept Bitcoin. Do you think ordinary people would care about decentralization or whatever? Linking Bitcoin to gold won't jeopardize its decentralization property.

Sure it will, check: https://en.wikipedia.org/wiki/E-gold

deert

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Do you not believe BTC? It seems that some people have achieved their purpose,
and I believe that BTC over the next 3 months will be innovative high

joshraban76

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I personally don't think that we will see bitcoin fall below whatever the cost it takes to mine it. For example if it costs about $500 in electric to mine 1 bitcoin then it shouldn't fall below that price. If it does fall below that price then I would say it is in a downward spiral but until then its simply market fluctuation. Linking it to gold is not the answer and the government would not allow it. Years ago the government banned private hoarding of gold and nothing is stopping them from doing it again.

Bubbles06

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Even if Bitcoin were fading away linking it to gold would be an odd choice. How would someone do that? And why would they?

keithers

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This is the land of wolves now & you're not a wolf

Adoption and business development is at an all time high. I think you just mean the price appreciation is slowing down. The price will catch up soon enough, have patience

beetcoin

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bitcoin is fading for the guys who are here to get rich quick.. as a cryptocurrency, it's still growing.. just not in the way that people expect (in price).

Possum577

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Loose lips sink sigs!

The recent NYS and Dell news provide good indication that momentum is only gaining.

We have a major US State writing laws around it, which even if the laws restrict some use it validates Bitcoin as more than a fad, as something legit.

And, more importantly, we have Dell making it easier for consumers who have yet to use Bitcoin to be come more familiar with it and to consider it as a legit payment option.

Remember when PayPal was brand new? It was cool but suspicious and now it's one of the easiest ways to pay for something online.

All in good time, less chatter isn't a bad thing. No one chatters about gold and it's something that is incredibly significant and valuable in the world.

Bit_Happy

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A Great Time to Start Something!

Quote from: prophette on July 27, 2014, 01:16:41 AM

Quote from: pedrog on July 26, 2014, 11:07:17 AM

The main feature of bitcoin is being decentralized, turning it into e-gold would be killing it.

The main problem now is to make more people to accept Bitcoin. Do you think ordinary people would care about decentralization or whatever? Linking Bitcoin to gold won't jeopardize its decentralization property.

Sure it will: Where are you storing the gold and what will stop the Gov't from moving in and taking it?

prophette

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Quote from: pedrog on July 26, 2014, 11:07:17 AM

The main feature of bitcoin is being decentralized, turning it into e-gold would be killing it.

The main problem now is to make more people to accept Bitcoin. Do you think ordinary people would care about decentralization or whatever? Linking Bitcoin to gold won't jeopardize its decentralization property.

AliceWonder

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It's still too difficult to obtain bitcoin.

It can't be mined and with the exception of a few places, it is really difficult to get a fair price without opening a risky account at an exchange.

Given what has happened at exchanges (e.g. Mt Gox) people are understandably hesitant to acquire it that way.

If people can't play with it, they can't evaluate it to see how it benefits them.

There's also a problem that the most commonly used operating system is heavily targeted by viruses and the general population doesn't know how to stay secure, viruses are something most people accept happens from time to time. Restore from backup and you are good. But with bitcoin, you can't restore funds stolen. That makes it scary.

If hardware wallets were readily available that made it easy to use bitcoin securely even if your PC gets p0wn3d, perhaps it would gain better adoption.

moriartybitcoin

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★777Coin.com★ Fun BTC Casino!

Bitcoin is hardly fading ...

More and more companies are accepting Bitcoin. The main problem is that existing Bitcoiners are HOARDING and mainstream adoption by consumers is lagging. But that will come around ...

doggieTattoo

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Quote from: Minecache on July 26, 2014, 11:52:57 AM

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.

I don't think this is true. We are just recovering from the last bubble.

BitCoinDream

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The revolution will be digital

Quote from: prophette on July 26, 2014, 11:00:39 AM

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.

Oh really ? Bitcoin does not need to be baked by the yellow metal. It is backed by a strong community that is growing every day. And FIAT exchange rate of bitcoin has nothing to do with bitcoin's true value. That is just an index for traders.

franky1

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Quote from: kwukduck on July 26, 2014, 12:44:25 PM

Yes bitcoin is gaining traction.. That's why the price keeps crashing like a burning airplane without wings or engine...

keeps crashing?

ok its july now
july 2009 - $0.002
july 2010 - $0.08
july 2011 - $6
july 2012 - $6
july 2013 - $120
july 2014 - $590

will th fiat lovers please stop watching the prices every 10 minutes and stop treating every movement as a need to scream and bitch on the forums..

have patience!!

kwukduck

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Yes bitcoin is gaining traction.. That's why the price keeps crashing like a burning airplane without wings or engine...

Yakamoto

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I'm going to have to say no it's not.

There has been big news recently, such as with Dell accepting Bitcoin as well as the Bitlicenses.

Yeah, it's faded away from the mainstream media, and that's because the news is encouraging people to use Bitcoin as opposed to discouraging them, as they thought it would at first. So Bitcoin will be very hush-hush on the news from now on, unless something monumental happens.

franky1

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bitcoin is not fading away. its just those moaning were hoping for a 2000% rise in 3 months. and now their getting bored waiting.. these people are not bitcoiners, they are fiat lovers waiting to get back to fiat.

they are not researching that the tax offices of multiple countries is declaring bitcoins a legal asset
they are not researching that US government has said its like gold
they are not researching that multiple international companies are accepting bitcoin
they are not researching that hundreds of thousands of smaller businesses are accepting bitcoin
they are not researching ......... the list goes on and on

they are just peeing their pants that bitcoin has dropped this month 10%.. yet from march onwards it has risen 50%..
now i see why the FIAT market asks its market traders to sit an exam. because sometimes proving you know something actually helps you use it properly.

MegaHustlr

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Vote 4fryn :)

Quote from: prophette on July 26, 2014, 11:00:39 AM

Geeks have confidence in crypto-algorithms but ordinary people don't.

It's always geeks aka intelligent people with their fingers on the pulse of new technology that have confidence in new and pioneering things. See: The Internet.

bananaControl

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Decentralize All The Things!

Quote from: prophette on July 26, 2014, 11:00:39 AM

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.

No, and you should be ashamed of yourself. This is wrong on so many levels. Please go and do your homework.

Topic: Is Bitcoin fading away? - page 4. (Read 6198 times)