Bitcoin will be Intercash. It will be the same as Internet is for Intranet.
It will not replace fiat but bridge the gap between countries and currencies.
Therefore it could well be the major universal fiat broker and reserve currency for this planet.
Topic: view: bitcoin has hit its full potential - page 2. (Read 5510 times)
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself 
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
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
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?
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
Our dollar is doing surprisingly well this year
...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
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.Want some overboard blanket statements?
bitcoin solves a problem that people don't have and will never have.
Most people don't want to be their own bank.
If you think people will ever want bitcoin for anything other than speculating or gambling, then you must be smoking something.
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 and bitcoin being our only salvation? No. Bitcoin is a tool that has the potential to assist in liberating and benefiting people everywhere, whether in economic turmoil or not. 
Long time since I've seen a bigger BS then this OP
Full potential? now?
Bitcoin is hardly at its 0.001% of its potential
Here is how I see the future
( LOG scale charts of historic data is so much informative)
Full potential? now?
Bitcoin is hardly at its 0.001% of its potential
Here is how I see the future
( LOG scale charts of historic data is so much informative)
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
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
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?
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
Our dollar is doing surprisingly well this year
...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
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
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
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?
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
Our dollar is doing surprisingly well this year
...especially rel. BTC :p
I think his points are valid that there is no "mass adoption" coming any time soon.
The greatest fear of people is: change.
Especially with something emotionally laden as 'money'. Beanie Bee must have some patience.
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
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
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?
only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
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
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?
Oh great. Another "FINAL WARNING!!!!!!!" from the guy who can't understand bitcoin. 
I think he understands it just fine, and i've seen him have some good insight on btc trading. He has made some good points. It's acceptance by the general public has slowed to a near crawl. No one is clamoring to get their hands on some btc. It could be several years until its truly widely accepted, if something else hasn't taken its place by then.
but its pretty obvious people dont want to buy btc up front, wait for coins (4 days if you go w/ coinbase) and then hope the exchange rate doesn't screw you.
I also think btc is a great technology, but the media has done a good job scaring the average person away, and the steps involved to initially start using btc are a big hurdle for most people to get over. It took me probably a few days of researching before I felt comfortable using/buying btc. I think his points are valid that there is no "mass adoption" coming any time soon.
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
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
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.
Oh great. Another "FINAL WARNING!!!!!!!" from the guy who can't understand bitcoin.
...
No, it solves a problem that you don't have. No, none of you are interested in being your own banks. Of course, you would never think of putting more than the FDIC insured amount in your account. But this isn't about any of you. Your living conditions, opportunities, the way you think or behave is very likely NOT shared by every one of the other 7 billion people on the planet. You all seem to suffer from the same projectionist delusion.
Stop the generalizations and this ridiculous either/or argument. Credit Card OR Bitcoin? Bitcoin OR Fiat? ...
My bank account is protected by FDIC. I also don't keep more than the insured amount in my account--that's stupid.
...No, it solves a problem that you don't have. No, none of you are interested in being your own banks. Of course, you would never think of putting more than the FDIC insured amount in your account. But this isn't about any of you. Your living conditions, opportunities, the way you think or behave is very likely NOT shared by every one of the other 7 billion people on the planet. You all seem to suffer from the same projectionist delusion.
Stop the generalizations and this ridiculous either/or argument. Credit Card OR Bitcoin? Bitcoin OR Fiat? ...
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.
I never suggested that CC and BTC are mutually exclusive. I have both
I did say that inca's smartphone e-payment scenarios didn't require BTC at all, and could be implemented today with an ordinary bank account.
I then mentioned that CC is far more useful in realtime transactions, because confirmation delays intrinsic to teh protocol.
I'd have to explain to most folks what BTC *is* before asking them if they cared
Or what of the immigrant workers sending money overseas to family? That's a $500+ billion market being relegated to an antiquated, monopolized, overpriced and time-protracted industry.
...
It's important to keep things in context--another skill you should hone before "becoming your own bank." 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.
See?
@Robert Paulson: Again, you don't understand how international commerce works. US is not "borrowing" USD from anyone, much less yourself
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
Oh, and that national debt? We lied--we're never paying it back. And you can't keep calling to bug us about it. Because Geneva Convention
your not paying it back? no problem, then we won't loan you money anymore.
unfortunately for you, you need the rest of the world to loan you 40.5 billion USD every month or else you can't pay for your imports.
http://www.tradingeconomics.com/united-states/balance-of-trade
Telling people here that bitcoin has maxed out is like walking into a heaven's gate meeting and telling them that there is no mythical space ship in the sky waiting to beam them to heaven. ......... But the public is now aware of bitcoin and they're not interested. They don't care that it's centralized. People like centralization.
No, telling people that bitcoin has maxed out it's technological potential is like walking around in the '80s and telling people the internet has done all it's ever going to do.Most people don't want to be their own bank. Most people prefer using simple, fast, reliable payment methods, like credit cards. Using such services, people have an insurance against theft and fraud.
My bank account is protected by FDIC. I also don't keep more than the insured amount in my account--that's stupid.
To become stable, there must be a huge volume of traders, which will never happen because bitcoin solves a problem that people don't have and will never have.
No, it solves a problem that you don't have. No, none of you are interested in being your own banks. Of course, you would never think of putting more than the FDIC insured amount in your account. But this isn't about any of you. Your living conditions, opportunities, the way you think or behave is very likely NOT shared by every one of the other 7 billion people on the planet. You all seem to suffer from the same projectionist delusion.Stop the generalizations and this ridiculous either/or argument. Credit Card OR Bitcoin? Bitcoin OR Fiat? If you don't personally see bitcoin as a benefit to you in your little world, then you're probably fortunate to live in a place where you have many choices of payment options and credit can be found every 300 ft if it's not already waiting for you at your house. Over half of the 7+ billion people on this planet do not yet have access to the internet, but that is changing. About half live out their daily life without ever interacting with a financial institution, due to inaccessibility, corruption, cultural tendency, etc. Forget how many total people that leaves that do not hold credit cards or even have access to credit. Of the well over 3.5 billion people that don't have your privileged financial instruments, can you imagine that there just might be some that would see a tremendous benefit to buying/holding/spending a global currency not debased by their corrupt government within their corroding inflated economies? And you can't argue that bitcoin is mainstream, or that everyone in the world has been given the opportunity to understand, acquire or use it...
I'd have to explain to most folks what BTC *is* before asking them if they cared
Or what of the immigrant workers sending money overseas to family? That's a $500+ billion market being relegated to an antiquated, monopolized, overpriced and time-protracted industry.
Credit card fraud. Identity theft. Consumer data breaches. Sure, credit card companies can continue patching the leaky pipes, but will you allow yourself to be convinced that this time it's different and these will be the patches that stick for good?
There are very valid reasons for credit and there is a place for it in our society. However, debt money is not the wisest choice for every financial transaction conceivable. In fact, credit has created a stigma in generations of people that spending more money than they have is 'ok'.
Oh, and that national debt? We lied--we're never paying it back.
So just keep borrowing?
^
Why in the world would my govt. do that? Will it also snap up all the Litecoin? And Doge? And every shitcoin?
Will my government also buy up every autumn leaf?
I know you don't think much of gubermints, but buying up 90% of BTC? Just how overinvested are you?
Why in the world would my govt. do that? Will it also snap up all the Litecoin? And Doge? And every shitcoin?
Will my government also buy up every autumn leaf?
I know you don't think much of gubermints, but buying up 90% of BTC? Just how overinvested are you?
^Bro, do you even world economy?
I'm guessing your entire economics knowledge is based on a couple of "Money as Debt" ut00b vids.
I'm guessing your entire economics knowledge is based on a couple of "Money as Debt" ut00b vids.
and what of your governmental collapse, when they just buy up 90% of the BTC with their infinite money, and big business takes over mining, and *nothing changes*
^Bro, do you even world economy?
I'm guessing your entire economics knowledge is based on a couple of "Money as Debt" ut00b vids.
I'm guessing your entire economics knowledge is based on a couple of "Money as Debt" ut00b vids.
...
your basically gambling that youll be able to pull your dollars out before they confiscate them or inflate them to zero...
your basically gambling that youll be able to pull your dollars out before they confiscate them or inflate them to zero...
If the USD becomes worthless, stuff like law/order will be history. You need those things for money of any kind to work better than a pawnshop .25 or a meat cleaver. On top of being money, BTC also needs at least a web-enabled mobile device to work.
Grid power/interwebs/cell service will also be sporadic at best. Those you also need before BTC can work. BTC: Not apocalypse-friendly.
OTH, if BTC becomes worthless right now? I'd have to explain to most folks what BTC *is* before asking them if they cared
As far as me gambling on "pulling my dollars out"? Working out well thus far. Total losses over my lifetime? Zero
...(think Cyprus) - we will see an effect on typical safe havens.
...
...
Memories...
*TL;DR: The government needs you for your wool and, occasionally, lamb chops. This does not mean you're better off without it. As soon as you stray from the herd,
...When they you stray from the herd, as you seem to be suggesting you've done, they you do not somehow become un-sheep.
They You simply get eaten by wolves, or run over by drunk kids in pickups.
Sheep that resent being sheep are ill-adjusted sheep with high mortality rates. Contrary to their belief, they aren't lions--they're simply unwell
Sheep that resent being sheep are ill-adjusted sheep with high mortality rates. Contrary to their belief, they aren't lions--they're simply unwell
you will still have power and internet when the dollar goes to zero.
those utility companies are still there, they just wont accept worthless dollars as payment.
...
your basically gambling that youll be able to pull your dollars out before they confiscate them or inflate them to zero...
your basically gambling that youll be able to pull your dollars out before they confiscate them or inflate them to zero...
If the USD becomes worthless, stuff like law/order will be history. You need those things for money of any kind to work better than a pawnshop .25 or a meat cleaver. On top of being money, BTC also needs at least a web-enabled mobile device to work.
Grid power/interwebs/cell service will also be sporadic at best. Those you also need before BTC can work. BTC: Not apocalypse-friendly.
OTH, if BTC becomes worthless right now? I'd have to explain to most folks what BTC *is* before asking them if they cared
As far as me gambling on "pulling my dollars out"? Working out well thus far. Total losses over my lifetime? Zero
...(think Cyprus) - we will see an effect on typical safe havens.
...
...
Memories...
*TL;DR: The government needs you for your wool and, occasionally, lamb chops. This does not mean you're better off without it. As soon as you stray from the herd,
...When they you stray from the herd, as you seem to be suggesting you've done, they you do not somehow become un-sheep.
They You simply get eaten by wolves, or run over by drunk kids in pickups.
Sheep that resent being sheep are ill-adjusted sheep with high mortality rates. Contrary to their belief, they aren't lions--they're simply unwell
Sheep that resent being sheep are ill-adjusted sheep with high mortality rates. Contrary to their belief, they aren't lions--they're simply unwell
Jump to: