The Scary future of BitCoins - the Death? - page 3.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: Lauda on February 21, 2014, 12:29:15 PM

Quote from: keithers on February 21, 2014, 12:19:04 PM

The complete death of bitcoin is nearly impossible. The invention is here to stay. That is almost like saying the death of the internet is in the future. Yes, there are maybe a ton of enforced restrictions (just like the internet), in the future, the the value per bitcoin is definitely an uncertainty, but neither of those would cause the death of bitcoin. If everything goes completely wrong, then it could possibly not make investors a ton of money, but bitcoin would still be around...

Not nearly, it is impossible.

Yeah, I guess it is all in how you interpret the word "death." If death means no longer in existence, then yes it is impossible. If death means that investors will not reap 1000% return, and the value continues to go down from here, that is possible. I don't think declining value over the long term is very probable, otherwise I wouldn't even be here...but it is possible...

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: keithers on February 21, 2014, 12:19:04 PM

The complete death of bitcoin is nearly impossible. The invention is here to stay. That is almost like saying the death of the internet is in the future. Yes, there are maybe a ton of enforced restrictions (just like the internet), in the future, the the value per bitcoin is definitely an uncertainty, but neither of those would cause the death of bitcoin. If everything goes completely wrong, then it could possibly not make investors a ton of money, but bitcoin would still be around...

Not nearly, it is impossible.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: Lucozade35 on February 21, 2014, 10:11:35 AM

All coins have risks but a new copycat coin called ME.TOO is free for all
YEP ZILCH ZERO NOTHING you can not loose on something that costs nothing
but your time of course.

The problem is going to come with scale. It costs somebody somewhere the cost of electricity and ISP service. That leaves you totally dependent on the voluntary efforts of others. If the number of transactions grows the cost will also go up. At some point I would expect the volunteer quit and stop loosing money. The beauty of Satoshi's system is that there is an incentive to keep the system running without charging exorbitant fees.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

The complete death of bitcoin is nearly impossible. The invention is here to stay. That is almost like saying the death of the internet is in the future. Yes, there are maybe a ton of enforced restrictions (just like the internet), in the future, the the value per bitcoin is definitely an uncertainty, but neither of those would cause the death of bitcoin. If everything goes completely wrong, then it could possibly not make investors a ton of money, but bitcoin would still be around...

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: keithers on February 21, 2014, 10:30:23 AM

Quote from: El Dude on February 21, 2014, 08:15:44 AM

dump that worldcoin crap , get litecoin and bitcoin and hodl for years.

I feel that this is the best strategy. 65% btc and 35% LTC

That isn't actually bad. The percentages might be off, but the coins are correct.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: El Dude on February 21, 2014, 08:15:44 AM

dump that worldcoin crap , get litecoin and bitcoin and hodl for years.

I feel that this is the best strategy. 65% btc and 35% LTC

Lucozade35

newbie

Activity: 46

Merit: 0

All coins have risks but a new copycat coin called ME.TOO is free for all
YEP ZILCH ZERO NOTHING you can not loose on something that costs nothing
but your time of course.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: LilithX on February 21, 2014, 10:00:44 AM

The only way Bitcoin would die is if the government shuts it down, which I don't think would happen. They would just figure out a way to get their grubby hands into it. Other than that, the many holders would keep it alive. Even if the Government shuts it down, someone always finds a workaround...

Wrong. The government can't do anything. Government banned drugs --> black market voilà.

LilithX

newbie

Activity: 7

Merit: 0

The only way Bitcoin would die is if the government shuts it down, which I don't think would happen. They would just figure out a way to get their grubby hands into it. Other than that, the many holders would keep it alive. Even if the Government shuts it down, someone always finds a workaround...

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: RodeoX on February 21, 2014, 09:49:27 AM

I think what you are misunderstanding is bitcoin as a free lunch. It costs money to route your transaction and that is unavoidable. So this is going to be about price. Bitcoin transactions generally cost pennies whereas credit cards cost dollars. Even if you pay off your card each month, the store you buy at must pay for the use of the card. This is why bitcoin is a threat to banks, fees are much much lower than the bank can afford to offer.

In your story you explain that it is your fear of bitcoins death that motivates you. Consider that fear is an awful guide in decision making. You should avoid the human impulse to make financial decisions based on emotion. For example you are considering trading the most popular and promising cryptocurrency for some alt coins. No one knows the future, but my guess is that you will regret it at some point.

Best of luck.

I just paid an ~13 euro transaction fee for an WU transfer of 50 euro (international). I was thinking, why people don't realize that bitcoin is here to stop this nonsense.
The lady said the fee is because of the speed of the transaction. Cheesy

Bitcoin will rise, once more realize the fees on WU, CCs, bank transfers are too high and transfers are not fast enough.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

I think what you are misunderstanding is bitcoin as a free lunch. It costs money to route your transaction and that is unavoidable. So this is going to be about price. Bitcoin transactions generally cost pennies whereas credit cards cost dollars. Even if you pay off your card each month, the store you buy at must pay for the use of the card. This is why bitcoin is a threat to banks, fees are much much lower than the bank can afford to offer.

In your story you explain that it is your fear of bitcoins death that motivates you. Consider that fear is an awful guide in decision making. You should avoid the human impulse to make financial decisions based on emotion. For example you are considering trading the most popular and promising cryptocurrency for some alt coins. No one knows the future, but my guess is that you will regret it at some point.

Best of luck.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

OP is foolish. OP should leave bitcoin forum.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Satoshi Nakamoto didn't invent Worldcoin, he(she, them) invented Bitcoin.

Does Bitcoin have some flaws and some bumps in the road, sure. So did the Internet, modern PC, and social networking before it.

The only thing replacing Bitcoin, is a Bitcoin 2.0.

brokedummy

legendary

Activity: 980

Merit: 1004

Now, why on Earth would mining profitability dictate long term price trends? If anything, bitcoin or other coins being unprofitable to mine would cause a price increase!

rockstar888

member

Activity: 70

Merit: 10

hahaha, PLOT TWIST

the US FED comes out with their OWN coin. FED coin, Fed coin wins.

rockstar888

member

Activity: 70

Merit: 10

DGC had its chance, I think too many people leaving that community already, everytime I visit the forum, lesser and lesser post.

so no, I don't think it be DGC... and not with that horrifying logo.

Beef Supreme

full member

Activity: 140

Merit: 100

Put your trust in MATH.

Digital Coin looks solid, and is solid in action. Heard John Law say he was buying them like crazy, so I looked into all the alt coins (I mean all, Jesus Christ where did all those hair brained ideas come from). I initially put a whole BTC into 42, only to see 66 and 21 come out. Then, I started to think that was a waste of money.

Bought some Doge on the hype, but other than the large community there is nothing special about that one either. More of a plaything.

Digital however, (and no I am not pumping a GD thing), has quick confirmations, well done QT client, and a professional feel about it. Also, the number of coins is targeted to daily use for buying Karpeles some coffee and such Grin

. I think that team has what it takes to make that one hold its ground (and no pre-mine).

So, for my money, its DGC baby. Just my opinion, that and two cent might get me a sip of some Karpeles frappucino. Tongue

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

OK so u think bitcoin will die fair enough no problem.

But why worldcoin? You haven't really justified as to why worldcoin is the future.

rockstar888

member

Activity: 70

Merit: 10

hmmm.. I share the view that bitcoin value will eventually be eroded by the better scrypt coins.

which one, I don't know.

I am not sure serious people will want to put money in like, 'doge' (maybe my problem only?)

litecoin is the easy winner on the list I will say, but then the brand looks weak.

what you guys think will be the next name people will WANT to buy?
we should start thinking there.

davida

sr. member

Activity: 585

Merit: 250

you must be very confused... why in the world(coin) would you believe that the more coins available to be mined will mean a brighter future for said coin??? This makes no sense.

It's the printing/mining of new coins that lowers the value of existing currency supply, so with only 15% mined i think you will find it hard to even give your worldcoins away in a few years time.

good luck with that one... i for one certainly won't be holding any worldcoin crap.

Topic: The Scary future of BitCoins - the Death? - page 3. (Read 6596 times)