What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.
Exactly! 
Topic: It's Over - page 2. (Read 4881 times)
What BitCoin needs now is rapid growth of the number of services and goods one can buy with BTC. Without that, it's impossible for BTC to fulfill it's purpose.
The second wind is coming. Wait for it.
Still going 
Seems to be working just fine for me...
I mine for the fun of it, so it is not too bad for me. But I feel that currency trading can be avoided, but we should all encourage the use of bitcoin whenever we can?
It's funny that there is such a loud cry of cynicism on this forum...bitcoins are doomed, turn off your rigs, never make any money, no hope for a vibrant economy...and yet the network hashrate has hardly budged (so far at least). 12.5 Th/s says this ain't done yet.
Its not over
I just need bitcoin to be stable for a few hours while I accept payments. Customer sends me payment, I cash out instantly and usually don't lose any money, sometimes gain a little which covers BTC to LR or cash costs. So hasn't 'failed' for me, although better stability would be good for escrow.
Could care less about speculating rackets or HYIPs
Could care less about speculating rackets or HYIPs
The only thing thats over is the early spec bubble. Once Bitcoins become more useful for your average (stupid) user to make purchases they'll regain traction. Hard to say when they'll bottom out though.
Summary of topic, people aren't using bitcoin as a currency just as a scheme to make (insert your current federal denomination here).
There are new alt-chains you can make money off of. But if you're out, you're out.
there's no way bitcoin is over! It's the currency of the future. Sure some kinks need to be ironed out, but i'm sure thats once they are bc will be stronger for it.
everyday people are joining the bc phenomenon, new businesses are accepting bc, and soon bc is sure to be a household name. It's because of this FACT that I'm working on implementing a way to accept bc for my space program. once the haters are gone we'll be able to really get things ramped up. keep your eyes open people, this thing can only go up from here!
everyday people are joining the bc phenomenon, new businesses are accepting bc, and soon bc is sure to be a household name. It's because of this FACT that I'm working on implementing a way to accept bc for my space program. once the haters are gone we'll be able to really get things ramped up. keep your eyes open people, this thing can only go up from here!
Honestly, as long as things like Silk Road exist there will always be a market for a completely anonymous currency if only as a means of transfer of funds.
All this would require is a service where you can borrow Bitcoins, right? Does a service like this not exist right now?
I guess the problem is that it's hard to enforce over the internet, when you lend Bitcoins to someone. What if they don't pay you back?
Bitcoin's anonymity will eventually collide with the trustworthiness needed to make something like what you've proposed work. I guess the problem is that it's hard to enforce over the internet, when you lend Bitcoins to someone. What if they don't pay you back?
I'm thinking about selling off my mining rig also, only so that I can buy BTC with it. I'm in it for the long run. We'll see how things turn out :3
I recently started mining and plan to add a few rigs over the coming year. My whole reason for mining is to SAVE money by paying for services (that I already use) with BTC. I think that is the only rational reason to mine. If you are in it to make USD and speculate, you are just setting yourself up for heartache.
If you already use services like web servers, virtual hosting etc like I do for web hosting and game servers or any other service that takes BTC, then mining is for you. If you just want to cash out every few weeks for USD, that ride is just going to be too damn wild for a foreseeable future, for me anyway.
If you already use services like web servers, virtual hosting etc like I do for web hosting and game servers or any other service that takes BTC, then mining is for you. If you just want to cash out every few weeks for USD, that ride is just going to be too damn wild for a foreseeable future, for me anyway.
It makes perfect sense that the price is dropping. Mining became super popular recently. If everyone starts mining to get USD, then that's a huge increase in bitcoin supply. There was no new increase in demand (in fact, maybe a decrease, due to all the security scandals lately), so that translates into a big price drop like what you're seeing now.
If only you could have shorted BTC, then I would have been able to make a profit. And many people wouldn't have wasted so much money buying mining equipment, because the price would have never gotten so high, and would have steadily decreased as the mining pool increased, instead of crashing rapidly like it is now.
This is why shorting is good for the market.
All this would require is a service where you can borrow Bitcoins, right? Does a service like this not exist right now?If only you could have shorted BTC, then I would have been able to make a profit.
And many people wouldn't have wasted so much money buying mining equipment, because the price would have never gotten so high, and would have steadily decreased as the mining pool increased, instead of crashing rapidly like it is now.This is why shorting is good for the market.
I guess the problem is that it's hard to enforce over the internet, when you lend Bitcoins to someone. What if they don't pay you back?
It just doesn't make any sense to declare a distributed electronic currency like this "over." It almost can't be over.
Breaking the SHA-256 hash function would make it over. Or at least the current incarnation of Bitcoins would be.
Here we go again.
it will take almost 5 years before BTC become of public domain. BTC still too technical!
There it is, the gem of the post. it's going to take time.
I can think I missed the early 2011 opportunity because I had a stack of GPUs doing something else, and have come in late, paid for a few hundred coins and having a bit of fun trading.
BUT
The people I see who are genuinely wealthy have invested many years on ventures. I got some money out of a high risk venture after working on it for eight years and I'm not expecting bitcoin to be months rather than years.
ya I know
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