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Topic: view: bitcoin has hit its full potential (Read 5510 times)

hero member
Activity: 658
Merit: 500
September 28, 2014, 03:14:07 AM
Xiaoxiao is just upset that since he 'was around in 2011' that he didn't buy the really cheap coins and watch the huge rise in price.

And he is a just a shill account.

A lot of us wish we were aware of bitcoins in 2011.  Sad

it's easy to say that in hindsight, 2 bubbles later. i was aware of bitcoins in 2011, and during/after the bear market (to $2), bitcoin looked to be a laughing stock, a pump and dump. kudos to those who got in that low or held on from higher up. much easier to say that you'd have bought back then, now.
legendary
Activity: 1232
Merit: 1000
September 28, 2014, 01:54:49 AM
Xiaoxiao is just upset that since he 'was around in 2011' that he didn't buy the really cheap coins and watch the huge rise in price.

And he is a just a shill account.

A lot of us wish we were aware of bitcoins in 2011.  Sad
legendary
Activity: 896
Merit: 1001
September 27, 2014, 10:43:38 AM
Xiaoxiao is just upset that since he 'was around in 2011' that he didn't buy the really cheap coins and watch the huge rise in price.

And he is a just a shill account.
hero member
Activity: 644
Merit: 500
September 27, 2014, 10:22:25 AM
Just quoting this from another thread, because while I have been bearish lately for the short term (but still bullish long term), I don't think BTC is anywhere near its full potential. This below, is BTC reaching its full potential, imo.

If a company can pay its staff with BTC, then it is possible for the BTC price to be higher.

We need jobs getting paid with BTC, otherwise its pointless becuase only early investors can have BTC, most people will not risk their fiat. The fundamental part of a successful currency is salaries being paid on it.

This is actually what would probably be needed to drive BTC to $10,000 and beyond. Even something small like 5-10% of salaries, and people wouldn't really think twice about it. It would just be done, and it would create this large and constant upward buying pressure. If this got out of control to the point where everyone was doing it, BTC probably would go to $100,000 even. The amount of BTC being bought from just small fractions of all salaries would be huge.

First we need the big mass adoption phase, which will hopefully come in 2015 with Paypal integration. Then we should BTC acceptance popping up everywhere. Only then will the majority of people start accepting BTC is not a scam. From there it could happen that people start requesting small fractions of their salary people paid in BTC. This to me would be BTC reaching its full potential. It would be out of the speculation phase at this point.

Unfortunately I just don't see it happening so quickly. Realistically, I'd expect some like this to pick up pace 2018-2020. Mass acceptance isn't going to happen overnight even with Paypal integration. You'll still have people bitter towards BTC that are going to require nothing more than time to soften up towards it.

Posted about DOGE ironically, but BTC itself is maybe at the point where there are 3 people dancing in this video right before the rest of the mob comes in : https://www.youtube.com/watch?v=fW8amMCVAJQ

Soon you'll be ridiculed for not being a part of BTC! Tongue (just after capitulation that is - which is represented by dancers falling in the video)
legendary
Activity: 2590
Merit: 1022
Leading Crypto Sports Betting & Casino Platform
September 27, 2014, 09:00:36 AM
Bitcoin is not really decentralized,
It's as decentralised a currency can get.

the mining aspect surely isn't, a major work is needed there, to prevent monopolization and 51% attack
sr. member
Activity: 378
Merit: 254
September 27, 2014, 06:33:44 AM
many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.

yeah, been hearing that one forever as well. hehe, i just think it's funny, i've been hearing this same stuff for so many years now. i gave up preparing for doomsday a long time ago.... cross that bridge when we get there.... we'll see what the US military has to say about things as well (hate to say it)....

the US military has nothing to eat if China stops paying for it.

US soldiers are trained to eat the people they kill.  That's the main reason US has switched to non-toxic, lead-free bullets.



Die, running dog imperialist expansionist pig, die!
sr. member
Activity: 448
Merit: 250
September 27, 2014, 04:30:19 AM
many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.

yeah, been hearing that one forever as well. hehe, i just think it's funny, i've been hearing this same stuff for so many years now. i gave up preparing for doomsday a long time ago.... cross that bridge when we get there.... we'll see what the US military has to say about things as well (hate to say it)....

the US military has nothing to eat if China stops paying for it.
sr. member
Activity: 448
Merit: 250
September 27, 2014, 04:28:22 AM
...
countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away...

But YOU understand this, Robert Paulson!
You, the clear thinker, are responsible for warning all these n00b countries about the costly mistake they're making!
Call them all, in alphabetical order, you can even call collect--ur worth it.  Just say "Mne pogovorite s El Presidente Altisimo, gospodin!  Tres importante!"--that's international politician talk, they'll instantly know what to do.  Go forth and speak your great truth, Robert Paulson!

For No man, when he hath lighted a candle, putteth it in a secret place, neither under a bushel, but on a candlestick, that they which come in may see the light.

Help us, Robert Paulson, ur r oly hop!



even the American government understands this, they just can't do anything about it because it requires ending socialism which will bring out the pitchforks.
http://budget.house.gov/news/documentsingle.aspx?DocumentID=387875
hero member
Activity: 658
Merit: 500
September 27, 2014, 04:22:09 AM
#99
many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.

yeah, been hearing that one forever as well. hehe, i just think it's funny, i've been hearing this same stuff for so many years now. i gave up preparing for doomsday a long time ago.... cross that bridge when we get there.... we'll see what the US military has to say about things as well (hate to say it)....
sr. member
Activity: 448
Merit: 250
September 27, 2014, 04:15:13 AM
#98
many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.
legendary
Activity: 1176
Merit: 1000
September 27, 2014, 03:33:43 AM
#97
Lol, I never said no one would like to be his own bank.  You, for one, clearly do.  I'd advise against it for now, though.  For now, just focus on learning the difference between statements of fact and overbroad generalizations.
Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.

Taking a line out of context "to illustrate a point" you knew I wasn't making?  Manipulative and dishonest Undecided
*If you do not wish to be your own bank, Bitcoin, as a payment method, is probably not for you.  I apologize for assuming you wished to take banking into your own hands, as you feel the great unwashed should.

Speculating about Bitcoin's hypothetical future advantages to the poor and teh undertrodden is fun, but those are just that--speculations ungrounded in fact.  We might as well speculate about Bitcoin's hypothetical future usefulness to our Beneficent Lizard Overlords.  Thus far, neither the poor nor Our Mighty Lizard Rulers (Long may they reign!) are flocking to Bitcoin.

On top of all that, the poor and undertrodden with smartphones, net access and laptops aren't so poor, and are likely to have better access to conventional money services.


The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.
Did I suggest the inevitable demise of USD...

No, you did not.  The intended recipient of the line you quoted did.  That's why context is so important.  Without it, easy to get confused Smiley

Wrong. The trend of cheap tech permeating even into deepest darkest Africa is both obvious and irreversible. Legacy banking will never penetrate into these places. Infrastructure such as roads and phonelines are absent yet mobile dumbphone use is ubiquitous. Soon cheap smartphone use will be near universal globally.

If you cannot see that whichever monetary system which can be transacted via a phone, used to store value via a phone safely backed up in the cloud then you are not looking at the big picture.

Bitcoin has existed for five years but the technology distribution to free the globe by exposure to the internet and the protocols running over it such as bitcoin is only now being realised.

It is an exciting time. Personally I think getting a bitcoin wallet app (with a memorable recoverable seed option) on every new mobile being created around the world is something the bitcoin foundation or wallet designers should be pushing really really hard. Even a Samsung wallet would be great..this will happen for sure in the next five years.
hero member
Activity: 658
Merit: 500
September 27, 2014, 03:29:32 AM
#96
many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.
legendary
Activity: 1274
Merit: 1000
The Golden Rule Rules
September 27, 2014, 03:23:05 AM
#95
If bitcoin has hit its full potential, why are millions of dollars being poured into bitcoin start ups by VCs?

OMGGGGGG mirrons of dollars!!!!
legendary
Activity: 1232
Merit: 1000
September 27, 2014, 03:13:54 AM
#94
If bitcoin has hit its full potential, why are millions of dollars being poured into bitcoin start ups by VCs?
sr. member
Activity: 266
Merit: 250
September 26, 2014, 10:05:47 PM
#93
If no one wants their bitcoins please please pretty please send them to my address below to rid of your burden.

Xiaoxiao?Anyone? Guess you still want your bitcoins despite saying it's worthless huh? If you're so sure that bitcoin will go to zero you would've just left and not even care let alone writing posts after posts trying to 'save' us from financial disaster.
sr. member
Activity: 378
Merit: 254
September 26, 2014, 09:13:43 PM
#92
...
countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away...

But YOU understand this, Robert Paulson!
You, the clear thinker, are responsible for warning all these n00b countries about the costly mistake they're making!
Call them all, in alphabetical order, you can even call collect--ur worth it.  Just say "Mne pogovorite s El Presidente Altisimo, gospodin!  Tres importante!"--that's international politician talk, they'll instantly know what to do.  Go forth and speak your great truth, Robert Paulson!

For No man, when he hath lighted a candle, putteth it in a secret place, neither under a bushel, but on a candlestick, that they which come in may see the light.

Help us, Robert Paulson, ur r oly hop!

hero member
Activity: 784
Merit: 500
September 26, 2014, 09:06:04 PM
#91
@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself Cheesy  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED Angry

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls? Cheesy

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year Cool

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

If other countries are on to our scam $, why are they still trading with us?  You wouldn't keep lending Anon money after learning he will not (and can not) pay, would you?
Nvrmnd, you probably would Cheesy

why did people buy .com companies with no income for billions of dollars in 1999?
how could all the experts miss the obvious observation that a website that has no income and no viable business plan is not worth anything?
why did some of the worlds biggest banks give sub-prime mortgages to deadbeats in 2007?

countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away.
considering America is completely dependent on its ability to loan money and obviously no one will loan to someone who has just defaulted on his debt,
there is no other conclusion except that the endgame for the American economy is near.
exactly when this happens depends on China, the second America upsets them those loans are gone, along with the American economy.

Are you comparing bitcoin bubble to 99 tech bubble?  Grin
full member
Activity: 140
Merit: 100
September 26, 2014, 08:40:28 PM
#90
Xiaoxiao are you still holding any bitcoins?

I want to help you get rid of them - how about 1 dollar each? We both agree they aren't worth anything at all, so a dollar per BTC is quite a deal. I will even buy your satoshis! Deal?
Agreed  Cheesy Cheesy
I'll help in this too.
sr. member
Activity: 448
Merit: 250
September 26, 2014, 07:13:07 PM
#89
@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself Cheesy  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED Angry

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls? Cheesy

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year Cool

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

If other countries are on to our scam $, why are they still trading with us?  You wouldn't keep lending Anon money after learning he will not (and can not) pay, would you?
Nvrmnd, you probably would Cheesy

why did people buy .com companies with no income for billions of dollars in 1999?
how could all the experts miss the obvious observation that a website that has no income and no viable business plan is not worth anything?
why did some of the worlds biggest banks give sub-prime mortgages to deadbeats in 2007?

countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away.
considering America is completely dependent on its ability to loan money and obviously no one will loan to someone who has just defaulted on his debt,
there is no other conclusion except that the endgame for the American economy is near.
exactly when this happens depends on China, the second America upsets them those loans are gone, along with the American economy.
sr. member
Activity: 378
Merit: 254
September 26, 2014, 03:08:29 PM
#88
Lol, I never said no one would like to be his own bank.  You, for one, clearly do.  I'd advise against it for now, though.  For now, just focus on learning the difference between statements of fact and overbroad generalizations.
Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.

Taking a line out of context "to illustrate a point" you knew I wasn't making?  Manipulative and dishonest Undecided
*If you do not wish to be your own bank, Bitcoin, as a payment method, is probably not for you.  I apologize for assuming you wished to take banking into your own hands, as you feel the great unwashed should.

Speculating about Bitcoin's hypothetical future advantages to the poor and teh undertrodden is fun, but those are just that--speculations ungrounded in fact.  We might as well speculate about Bitcoin's hypothetical future usefulness to our Beneficent Lizard Overlords.  Thus far, neither the poor nor Our Mighty Lizard Rulers (Long may they reign!) are flocking to Bitcoin.

On top of all that, the poor and undertrodden with smartphones, net access and laptops aren't so poor, and are likely to have better access to conventional money services.

The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.
Did I suggest the inevitable demise of USD...

No, you did not.  The intended recipient of the line you quoted did.  That's why context is so important.  Without it, easy to get confused Smiley
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