Topic: State of the Real Bitcoin Economy - page 6. (Read 14575 times)

No, that's not it yet. Here it is in a shorter version.

Bitcoin would be more successful if it had big money behind it fighting legislators and promoting it. It's still young and this can happen. Be patient and give it time to grow.

Yes

But those uses do not necessarily need to be practical uses in order to provide a huge boost to the Bitcoin economy.  There is great potential for the application that seamlessly ties in to social networking, "likes", trendiness, rebellion, or lottery.

My point is Android chose Linux because Linux was already a success.
It isn't Android that made Linux a success.

Is that the point you were trying to make?

What point is that, that those who pay for marketing are going to sell?

Quick, call the presses!

The point is that a free open source software project has incredible penetration is many different markets and has in fact displaced many closed commercial *nix's.

When's the last time you saw a server running Solaris?
Just 13 years ago, Sun was the company that put the dot in dot.com

It was this free operating system by an international group of enthusiasts that provided something better and Sun is gone now.

There is no Bitcoin economy and there never has been, it's all lies and deception to justify higher prices in the minds of a few bubble driven speculators. ASICs aren't an economy. The only thing we have are Silk Road and Satoshi Dice.

Aside from that, all other economic indicators I know of like bitcoinstore.com, Humble Bundle sales figures, Reddit Gold figures etc. suggest that Bitcoin simply isn't a currency. If anything besides a store of value, it's a USD proxy to buy certain goods.

I do think that Bitcoin can work simply as a store of value, but actual uses would be a boost, and I'd suggest to look for uses where Bitcoin has not only an advantage, but uses which without Bitcoin would be impossible.

Wait, is eMule a project that came from eDonkey?

Bitcoin features should be used to enter existing markets but also to create new markets where payments would be impossible or very difficult/dangerous/impractical to do.

This is what happened with Silk Road and now Atlantis. It made online purchases convenient, easy and safe even for difficult products and services.

Another field available is upload/download services. I looked for and just a couple of file hosting services accept bitcoin.

In my opinion, a plug-in to tip good eMule uploaders would be an interesting way to diffuse the use of bitcoin on a large group of people.
For example: Good uploader Hans upload 1 GB of data to me. With the plug-in I tip him 0.01 BTC (around 1 US$) and automatically Hans' client (and mine) reduce his "credits" versus me by 1 GB.
Now, for him I become a good uploader with a verified history and he become a good uploader for me.

If 1/10th of the users paid 1$ worth of bitcoin to the good uploaders, they would pay 50K US$ every month (at least). This is chips & fish, but more people would have bitcoin to spend and reasons to spend them and hold them and maybe use or acquire them for other uses. People could finance their monthly subscription in this way and have Bitcoins to spend.

I added a feature request to the Official eMule forum:
http://forum.emule-project.net/index.php?showtopic=156816&st=

who is ASICMiner? 


>>WTF!!!!!

LMFAO====> how about try 1981 !!!

*link restored!*~> http://en.wikipedia.org/wiki/BITNET

Compare to Dot-com era:

Total number of websites took 3 years to double between 2000-2003. Internet growth was in a bubble at the time and suffered a crash, yet look what happened: it wasn't all speculation & hype.

Bitcoin will see mass adoption for transactions far faster than you expect.

There is some mind-blowing stuff coming out. Look at https://www.pikapay.com/ (in beta) for example, in which btc can be simply tweeted (send or receive) by anyone with a twitter account, they hint at a massive future for btc transactions. It's pure bloody genius systems like this that keep me very positive.

Great discussion but it needs a little more depth from the big picture!

What is the time frame for success? Everyone using bitcoins tomorrow? Next year? by 2020? Without a goal, we have nothing!

Secondly, as many people have pointed out, Bitcoin is the Internet circa 1992 - I was there, it was awful. If we use this as a guide, then we have a number of hurdles to deal with.

Firstly, we are beyond the technical issues, bitcoin works as it should, and it can be tweaked for scale, just like the interest in 1992.  
The current problem is legal, which the internet also had to deal with.  Online copyright was a huge problem in 1992 - who owned what? What laws counted?  Who was responsible if? etc - these are the same questions that bitcoin needs to address.  Once that happens, then its the next stage, mass adoption.

In the UK, we had a number of ISPs who gave us the push to make the internet popular, the most famous being Freeserve.  The downside of this popularity was that the freeservers knew nothing, and blocked up the bandwidth!  
Who will be the market makers for bitcoin?  We need to grow the current market from its 2 million users to at least a billion, if not more before bitcoin becomes something.

With mainstream we got economies of scale, and finally e-commerce stared making sense - and this only really stated happening in the last 10 years.  Bitcoin needs to find its niche, which I agree is probably micro payments of less than $100 a deal. It needs to be better, and cheaper than paypal - and be able to prove it to anyone who doubts it.

There is a huge difference between being an asparagus type geek who can handle the foibles of bitcoin, and the rest of society.  The mindset change needed to turn bitcoin into a a must have useful and appealing tool of the mass market is so big, I can't even start to describe it.  We are talking about thinking like a 15 year old girl, and getting her to expect to use bitcoin everywhere - because she finds it better than anything she currently uses!

Please don't think I'm being ageist or sexist or whatever offensivist I might be! The point is that mainstream take up has far more 15 year old girls than it have technical libertarian geeky types.

Once we turn that corner, then the son of bitcoin will be in every digital wallet on the planet, but in reality, its not going to happen until at least 2025!

now stop that Atlantis NARC website is easier to find and more stable!!!!!


>>>NOW WE KNOW~BITCOIN IS "BAD" DRUGS MONEY PERIOD!!!!!!

You know, for a group of people using a currency supposedly built on a rejection of the "bubble-economics" of central banks, you guys sure sound like a bunch of dot-com investors claiming that the "old rules" no longer apply.

QFT.

Unless part of that increase in market cap to no. of transaction ratio is due to bitcoin being used as a store of wealth. I'm not saying that is the reason, but I'm not lazy enough to rule it out purely on whim either.

The bitcoin economy is growing, no doubt about this, but nobody said growth should be perfectly linear. There's a bit of a slowdown right now, but we shall not overreact to it. Things take time. In Europe, when national currencies were replaced by the Euro, with full support from all governments, many people kept on thinking in their old currencies. It's much more complicated with bitcoin that no government and no big company officially supports.

Only twice as many transactions as a year ago, with a market value 10 times as large, and no reason to believe this is due to anything but speculation.



http://blockchain.info/charts/n-transactions
http://blockchain.info/charts/market-cap

Here you can see from ASICMiner's relay of blocks that how many real transactions there are, comparing with the payment transactions from mining pools