Topic: on what condition can people have fath for bitcoin just like for gold? (Read 2998 times)

as long as people are accustomed to the way.

i think mostly like this :
much more safe for individual and enterprise<------------|------------> easy to understand for public

People will trust btc as gold when the gov and banks start accepting and supporting btc as a currency!!!

this is a good idea on btc wallet security , and security bring public confidence on btc.

Condition? It's not about conditions, it's about IQ, and ability to learn - and more importantly - unlearn.

Isn't that one of the beauties of bitcoin? That stupid, lazy people will be the last people to catch on?

Yeah, I think hardware wallets will be a big step in the right direction.  Desktops, laptops, tablets, and smartphones aren't designed to protect private keys.

If people had a sure way to protect their bitcoins the price would by up *5 by now, maybe we should look at the idea of hardware wallets.

There isn't much of similarities between gold and bitcoin. Bitcoin will get stable enough to become new gold when almost all of it would be dig up. So in year.... 2100

As long as we believe in BTC the value will be there 

this is very thinking.
high speed fait circulation bring problems, because commodities are at certain produce period, the period can not be shorten unlimited.
the same for bitcoin.

I don't want Bitcoin to be priced in anything (even though I like BigMacs). I want it to have its own value if it is going to be used as a currency. Do you see any of these BigMacs priced in dollars? http://www.burgerkingjapan.co.jp/campaign/cp111.html
No, they price them in their currency. I know its not priced in Dollars because there is no fucking way that I would pay $7.50 for a BigMac. Bitcoins need to have intrinsic value for trade just as a national currency does. It can be exchanged for any currency but it should have its own value first. Unfortunately it can't because people don't trade Bitcoin for something and then spend the Bitcoin they received on something else. There is always an exchange for fiat in the chain. If people want Bitcoin to replace fiat then stop using fiat and start using Bitcoin.

yes, you are right. bitcoins = its private keys.
1  as assets,we need the community to keep bitcoin's advantage over its competitors all the time.
    while we can not promise it.
2  if we regard bitcoin as medium of exchange more then assets, it will have both fiat and gold's pros.

should there be "known something about..." not "known nothing about..."?

I don't agree that falling prices are bad. I have always believed that Bitcoin should not be pegged to the USD because that creates most of its problems. People should barter Bitcoin like any other commodity. Bitcoin could then be pegged in exchangeable value for product instead of being reliant on the US government to set its value (how many Bitcoins does that cost). There's a little of that going on but not nearly enough. Bitcoin business can't even operate without BitPay type business because someone needs to seamlessly exchange the spent Bitcoins for fiat because Bitcoin can't pay the bills. Everyone here preaches how fucked up the American Dollar is and how they can't wait until Bitcoin replaces that nasty old fiat and in the same breath they ask how many American Dollars Bitcoin is worth today: "Have you seen the price of Bitcoin today? It almost at $1000. Wow!" What a load of crap. You can't have your cake and eat it too. If the dollar crashes Bitcoin goes with it because Bitcoin is pegged to the dollar.

I'm happy that you kept all of your Bitcoins. You know I've been ripped off several times. I'm not discounting the value of holding on to your Bitcoins at all costs. You should protect that key like it was your house key. The problem is that a lot of us need cash to give Bitcoin value. Just holding on to it doesn't really create any value for us. When I was mining with video cards I needed to cash in some Bitcoins to pay the high electric bill and buy supplies to keep mining. Exchanges are necessary for that to happen. I'm sure I don't need to tell you how many exchanges have ripped people (including me) off. The very last exchange to screw me was CryptoXchange and I almost quit Bitcoin because of it. You'll get a laugh out of this: PatrickHarnett, MnW and Yankee convinced me it was a great trustworthy exchange because I was fed up with Trade Hill. lol

Bitcoin most certainly is an investment vehicle. I would go so far as to say, at this point it is mostly an investment vehicle. If I want to shop at that overpriced overstock.com I can simply use a credit card. I don't need to first exchange my cash for Bitcoins to do it. If I'm buying Bitcoins it's to hold and wait for them to appreciate not because I want to buy some junk online. I could do that before Bitcoin ever existed. If I mine Bitcoins then I want to hold them for sure because I want as large a return on my equipment investment as possible. If I bought my mining equipment from a scam artist like BFL then I really need to hold my coins or I may never ROI. Many people choose to use the numerous opportunities that are available on this forum to attempt to increase their small holdings of coin into a larger holding. They are promised a greater return and that's why they are here - profit. Let's face it, no one is using Bitcoin because their doctor said their health would improve if they got themselves a few Bitcoin. They want a fucking profit! Well guess what, they just made Bitcoin an investment vehicle.

https://i.imgur.com/xKfuLoO.jpg

There is a chance greater than zero that each of us's DNA sequence is mined somewhere up there, and somebody up there had collected their 25 "up-there-conis" for finding a "block".. There are about 6 Billion blocks found so far and lets say maximum 21 Billion blocks could exists at the same time, so some of them will disappear over time (i.e. "death"), more will be mined (i.e. "birth")..

Gold is a Great conductor and will become more and more useful and rare into the future,..

Not to mention Gold is rare throughout the universe created when Stars Super Nova,..

Imo, Gold and Btc cannot be compared other than their Price,..

So, maybe if there was a practical use for Btc such as conducting, then we would be talking,..

Bitcoin is Valuable to me because its the Original CryptoCurrency, we have to think about thousands of years into the future and Make a Place for BTC there.

Well...

Put a 20mm cannon to their head and ask them : "Trust Bitcoin like gold or the gun will fire. You got 15 seconds.
Short of that - simply won't happen, unless you find "believers" who do so anyway (there are a number of these in the forum) because it's new and sounds shiny.

Also, replace things like "faith" with knowledge. We know gold is a physically unique and physically rare material, non-reproducable and defined by the table of elements, created by forces of nature eons ago. Resilient and it depends on absolutely nothing.
Bitcoin is just an experimental invention by humans (who exactly, we don't even know for sure), a virtual computer code producing virtual output heaviliy depending on human-made infrastructure and many high-tech requirements that didn't even exist 30 years ago.

Regardless of design, it simply has nothing in common with physical gold - so one is best off not to compare them, they're entirely different leagues.
There is no such thing as "as good as gold". Once you realize that, you know the drill. Either it's gold or not. If not, it may have its uses and associated value - but it'll never compete with the qualities of gold.

It is interesting to analyze this sentence in the context of myth vs reality.  The reality is that control of a private key permits spending of the coins in the corresponding bitcoin address.   But the rule says more than that.  I think it forces a re-thinking of our definition of the word "have."  Right now I think I have money in the bank.  But really all I have is a promise.  


Bring on the Bill Clinton "is" jokes...