Topic: The Scary future of BitCoins - the Death? (Read 6596 times)

Vendors can take unconfirmed transactions if they choose to do so.   Also with credit cards, the buyer can perform chargebacks, and credit cards are just as likely (if not more likely) to get stolen.

I have always said that litecoin could end up being the crypto that is used for day to day purchases because the confirmation times are faster, while bitcoin can be used to store value, or make larger purchases (where waiting doesn't matter)...

BitCoin's transaction times are too long. Credit Cards still works faster, and the store knows they have received an authorization right away. No one is going to want to wait around for 10 minutes while a transaction waits to be confirmed.

I own Bitcoin, so I do not want it to die however it's just to slow.

Actually WorldCoin community is feeling a lot of empathy towards people who lost money in Mt. Gox.
We were expecting also Scharmbeck taking WDC to 0.077 quite fast, however Scharmbeck made more or less the same thing Mt. Gox did to BTC community.
Now we need to waite somebody comes to make us WDC/USD exchange. This will make WDC price skyrocketing because people know where is the value.
WorldCoin price seem to be stabilized and yes, there is a lot of volatility - but I guess people in BitCoin community has also used to a lot of volatility. These low prices just makes WDC even more appealing. 

Nice trolling. Now gtfo.

I am not here to making people to come to WorldCoin because I will sell all my coins when the price goes up 25 %.
Actually, I am not going to do that.
I see WorldCoin has true potential to be a currency, the rise in price will come along with WDC being the true currency. That is the whole point of me promoting.
I am open - yes I have bought coins because I believe in this coin (if I believed in some other coin I would own it). I do not own any remarkable amount of bitcoins currently because of the reasons I mentioned here earlier.

I understand that the millionaires that were resulted from the rise of bitcoin are perhaps not so interested in making more money - they might have relatively comfort life with their fiat they got from selling their bitcoins.

I know there are a lot of trolls and people promoting "their own coin" - but the WorldCoin is different from those other alts in the sense of market segmentation. The most other altcoins are very niche coins, but WorldCoin is more global.
Actually I was talking to the WorldCoin Facebook-page administrator and he told me one surprising fact on WorldCoin: 40 % of the page likers are females!!! This is very good news if this trend goes on because WorldCoin is becoming truly global currency both males and females.

In my opinion, WorldCoin deserves to be mass adopted. If there are any coin enthusiasts that want to develop the coin, I welcome You to our community. Perhaps you do not go "all-in" which is a smart move. I think the best strategy is to buy little by little or mine the coin.
The coin has very good technical specks but it is not mass adopted yet. If you want to join us to make this coin available for the masses, then please join us. The coin has the potential to be accepted by the merchants because it has so fast confirmation time and therefore the risk of chargeback is irrelevant.

Sounds like the FED. 

I didnt bother to read the OP as I recognize him from touting worldcoin all over the forums, its funny how no one noticed that when reading the replies lol

the mistake people make is getting so greedy they don't back one coin... example dogecoin people slowly starting to pump worldcoin.... if even dogecoin holders are not loyal to their currency what chance does some other no name currency have? They are all becoming nameless, faceless currencies and it's hard to find justification to invest in any of them.

With that said there's a reverse head shoulders formation on bitcoin... it's possible that it may have found bottom and could go up from here. I still won't invest at $600 per coin, it's still too concentrated in too few hands. Sorry, it's not worth $10,000 a coin. Drink the kool aid if you want...

Inflation is bad for currency as a store of value. I guess the non-inflationary property of BTC is its strength. That's why WDC has also taken this feature by limiting the Coin supply.

However, at the current state I am quite worried about BTC's future - one of the main drivers of this coin is its decentrilized property due to mining around the world. Now however, I am worried about the current trend of mining centralizing more and more.
This enables the governements to take bitcoin down. This same trend is the threath of all the bitcoinlike cryptos. However, the point with me is to find the best crypto currently available and the coin that has low enough difficulty so that the mining can be truly decentralized.

This is why it is the time to start transfering your bitcoins to the WorldCoins. The good thing is that you do not need to sell your bitcoins for fiat-crab but you can directly buy WorldCoins from the exchanges (Vurcurex, Cryptsy, some China-based exchanges etc).
By the way, currently WorldCoin is gaining much popularity in China - do you remember what happened to bitcoin when China started to get interested into it?

Please stop write BitCoin. It is Bitcoin or bitcoin.

OP fails to understand cryptocurrency and inflation's most basic tenets.

I was aware of this page even when I jumped into the coin.
All it says that somebody has control of 400 000 WDC (compare with Satoshi Nakamoto having 1 000 000 BTC) and that Scharmbeck didn't come to existence. I think many poor bitcoiners lost money in Mt Gox as well. So, WorldCoin community has great empathy on BTC community - especially towards those who lost money in Mt Gox (those who invested in Scharmbeck fee shares of Scharmbeck lost money because Scharmbeck was a failure).

The all time low of WDC is 20 satoshi if I am not mistaken. Do your diligence, the Scharmbeck is not WorldCoin - it could have been a good service for WDC users but it was a disasters for those who invested in it.
This site has a lot of misinformation - I am sure the most people here are smart enough to do the research and find that this page is full of lies. I challenge you to study for yourself.

However, I am not willing to lead this conversation to this direction because this is all about the WorldCoin taking over the crypto-world - not some businesses that failed. We are looking to forward but learning from our previous mistakes.

I am going to answear here more questions and if you guys want to start discussing about the Scharmbeck, I can give you a link to where you can have discussion what is it and what happened. It is not the topic here however.


As a coin worldcoin is not more or not less a scam coin than any other crypto such as BTC or LTC. Personally I consider a coin as a scam coin if the money supply is unlimited (such as some cryptos or USD or euros or yuans or yens or pounds etc.)

Oh dear, someone else has been sucked in.

http://cryptolife.net/exposing-the-worldcoin-scam/

You should pay particular attention to the last paragraph.

LOL  

Just bought a few WorldCoins 'cause they were cheap.
The future looks quite promising with WorldCoin.

Now the situation is, that WDC is among the top coins - the first confirmation is done within 30 seconds only as I have mentioned here.
I have heared that there are some other coins making fast confirmations as well (faster than WDC). However, they have one major problem that is not solved - the mass creation of orphan blocks.
So, technically WDC is actually optimal coin.

On Christmas time I saw, as someone earlier mentioned, that WDC might correct a little bit. Those days the coin cost 0.00065 BTC, today the coin costs 0.00022 BTC. Check yourself from the historical charts.

Just like with bitcoin, there is a lot of volatility with WDC - so invest only the amount of money that you are able to loose. Some people can afford to loose more and some people cannot afford loose that much. It is very personal thing, but I think it is time to start the transistion.
For long term and "frozen wallets" it doesn't really matter how much did you pay for WDC - the rule in economics goes that the forex rate is determined by the relation in money supply. The relation between the total money supply between BTC/WDC is 0.077.
This means, at the some point the equilibrium rate must be achieved and until that the rate is a bargain.
The reason for the current bargain is, that WDC is still quite young coin (launched in May 2013) and it has still space to grow but if you are doing this long term (read: in cryptoworld I speak almost eternity - 3-5 years) then you are going to not only preserve your wealth but increase it.
Today it is relatively easy to get to the top 10 WorldCoin Rich List. 

+1,000,000

no, because he just likes it ...

But when there is less mining, the network is more vulnerable.
The coin need to be rewrding to miners as well so that the miners feel mining appealing and profitable enough to mine.

Which isn't going to happen because at some point ICANN will sell .bit as a legitimate TLD.

That boat sailed after Apple squatted on .local.

Explain the point of a centralised decentralised coin?

Yeah, maybe the poor guy needs to somehow find a way that he doesn't take such huge concessions from market activity.