Topic: My view on bitcoin - page 2. (Read 2920 times)

Quote from: RodeoX on May 01, 2015, 04:53:12 PM

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

Correct. Bitcoin is not the problem here, it is the impatient people sitting around and waiting for something to happen that could possibly make them rich. That is not the case here, we are here for innovations, not for getting rich. We don't want to get controlled by the banks so we are here to oppose that.

you can't blame people for trying to make quick profits. let's face it, the majority of the people are interested in bitcoin because it possibly can make them loads of profit.

gentlemand

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I think I see what you mean. With their spending power a few players could buy a huge % of BTC.? That could happen, but there are forces that work against it. If someone started buying thousands of bitcoins a day it would push the price ever higher. They would be both collecting coins and driving the price. Imagine how high it would go if someone tried buying 10% of the coins. I just don't see it as cost effective. Besides, mine are not for sale. Well... Ok, I'll sell a BTC for $1500.

How many coins are actually on all exchanges at any one time? A few tens of thousands maybe.

We all know that market cap is a silly measurement. Nowhere near that much money has ever been poured in. It would also work in the opposite direction too. If someone was hell bent on owning 1 million coins then prices would be in the Oort cloud long before they obtained even half of them.

RodeoX

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Quote from: acquafredda on May 01, 2015, 03:44:25 PM

Quote from: RodeoX on May 01, 2015, 12:22:51 PM

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

Yes, that's it! This is a good point.
However, the problem comes when something like what we discussed here https://bitcointalksearch.org/topic/m.11242373 happens.

I think I see what you mean. With their spending power a few players could buy a huge % of BTC.? That could happen, but there are forces that work against it. If someone started buying thousands of bitcoins a day it would push the price ever higher. They would be both collecting coins and driving the price. Imagine how high it would go if someone tried buying 10% of the coins. I just don't see it as cost effective. Besides, mine are not for sale. Well... Ok, I'll sell a BTC for $1500.

acquafredda

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Quote from: RodeoX on May 01, 2015, 12:22:51 PM

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

Yes, that's it! This is a good point.
However, the problem comes when something like what we discussed here https://bitcointalksearch.org/topic/m.11242373 happens.

futureofbitcoin

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I think it's good for bitcoin that people are looking for profits rather than some lame ideology.

Besides, just because Goldman Sachs invested a small amount, doesn't mean they'll somehow have control over bitcoin. Isn't that kind of the point? A malicious actor cannot take control over bitcoin?

It doesn't matter whether some is in it for profit or not, if they're investing and doing things for the environment, it's a good thing for bitcoin. Having a bunch of delusional anarchists thinking bitcoin will cure cancer and find the answer to life the universe and everything keep going on and on about how great decentralization is won't do anything for bitcoin. Most people don't care.

It'll never go mainstream without the people building on bitcoin and taking profits.

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AtheistAKASaneBrain

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Quote from: acquafredda on May 01, 2015, 07:11:59 AM

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up. You want moon?? There! Good job Willy! Everyone happy. Willy says fuck ya'll.

To operate Willy you would need massive amounts of bitcoins and a stable exchange. To take the price to the Moon you would need Willy to run a bitcoin exchange with a massive trading volume to actually manipulate the price.

gentlemand

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I think you're right. On the long run this is what 90% of the people in here want.

I think everyone wants to be richer than they are now. It would be far cooler to be richer with BTC that can buy you everything your heart desires.

If I had to convert back to my local currency to get the things I need and want in the future I'd assume it was on its way to going nowhere.

dothebeats

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Quote from: Beliathon on May 01, 2015, 10:15:25 AM

Quote from: S4VV4S on May 01, 2015, 12:45:52 PM

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

Correct. Bitcoin is not the problem here, it is the impatient people sitting around and waiting for something to happen that could possibly make them rich. That is not the case here, we are here for innovations, not for getting rich. We don't want to get controlled by the banks so we are here to oppose that.

Phat Buzz Tart

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tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

That's true, however, people want to also know how much their BTC is worth now.

Don't forget that a lot of people bouvht when BTC was around $1200 because of the hype.

Now, those who didn't panic sell are waitting for their investment to be worth it.

Yeah I know a couple of friends of mine who bought at that price.
One of them panic sold most of his

S4VV4S

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Quote from: Beliathon on May 01, 2015, 10:15:25 AM

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

That's true, however, people want to also know how much their BTC is worth now.

Don't forget that a lot of people bouvht when BTC was around $1200 because of the hype.

Now, those who didn't panic sell are waitting for their investment to be worth it.

RodeoX

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The revolution will be monetized!

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

Kprawn

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Let the day traders and price watchers worry about these things.... They are all singing the same song.."Show me the Money!!!!"

There are a lot more than a currency here... and they are on the wrong boat. Wink

When Bitcoin goes mainstream, it would not be for it's currency feature. {Think Smart contracts} Grin

Erza

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tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

And this impatience will lead many people to the bad moves that make them dump their bitcoin when its not in the right time. People will feel uneasy when it start to rise little by little and start to sell and dump everywhere

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: tokeweed on May 01, 2015, 07:23:21 AM

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

amiryaqot

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Quote from: acquafredda on May 01, 2015, 07:11:59 AM

Quote from: tokeweed on May 01, 2015, 06:30:24 AM

Quote from: redsn0w on May 01, 2015, 06:26:50 AM

Quote from: tyz on May 01, 2015, 06:15:27 AM

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.

Quote from: tokeweed on May 01, 2015, 07:23:21 AM

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up. You want moon?? There! Good job Willy! Everyone happy. Willy says fuck ya'll.

Then we can say the problem for bitcoin is the willy bot, and that bot used a lot of FIAT currencies... so the problem is the FIAT 'part'

. I think we have a problem!

Get Willy to pump BTC to over 10,000 USD. These threads and bullshit opinions about the problems of BTC... GONE!

Everybody will start counting their benjamins.

I think you're right. On the long run this is what 90% of the people in here want.

well i wish that would happen soon Grin

i will be millionaire at this when BTCitcoin reaches $10,000 each in price, my view is also that but we need first mass adoption and more public awareness about this great invention of 21st century.

tokeweed

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Life, Love and Laughter...

I'm not blaming anyone. I find the whole thing hilarious actually.

redsn0w

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#Free market

Quote from: acquafredda on May 01, 2015, 07:11:59 AM

Quote from: tokeweed on May 01, 2015, 06:30:24 AM

Quote from: redsn0w on May 01, 2015, 06:26:50 AM

Quote from: tyz on May 01, 2015, 06:15:27 AM

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.

Quote from: acquafredda on May 01, 2015, 07:11:59 AM

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up. You want moon?? There! Good job Willy! Everyone happy. Willy says fuck ya'll.

Then we can say the problem for bitcoin is the willy bot, and that bot used a lot of FIAT currencies... so the problem is the FIAT 'part'

. I think we have a problem!

Get Willy to pump BTC to over 10,000 USD. These threads and bullshit opinions about the problems of BTC... GONE!

Everybody will start counting their benjamins.

I think you're right. On the long run this is what 90% of the people in here want.

It is normal, everyone want the equivalent in FIAT currencies (dollar, euro, etcc) no one at the end want really to 'own' or have bitcoin, because bitcoin is nor mainstream. It is a normal 'thought', and don't blame me

.

tokeweed

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Quote from: tokeweed on May 01, 2015, 06:30:24 AM

Quote from: redsn0w on May 01, 2015, 06:26:50 AM

Quote from: tyz on May 01, 2015, 06:15:27 AM

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.