Topic: view: bitcoin has hit its full potential - page 5. (Read 5510 times)

Bitcoin is the Segway of money.  It works, it's moderately useful, and it's not going to change the world.

Nah. Take a look at estimated USD transaction volume., which is adjusted for change-making and other transactions that don't represent ownership transfers. Not much change since April, and way down from the China peak last December. (There's also a huge peak around the time Mt. Gox went down.)

And he's still wrong if we look at the stats he actually mentioned (transaction volume, not # of transactions)
BTC transaction volume trending up
https://blockchain.info/charts/estimated-transaction-volume
USD transaction holding steady in the face of massive price drops
https://blockchain.info/charts/estimated-transaction-volume-usd

You are soon flying back after a two week business trip out the country. Whilst walking through the airport departure lounge your phone PA agent app offers to arrange a taxi to pick you up at the other end and drive you home. You tap yes and via your inbuilt hardware smart wallet the agent instantly books a cab and pays with bitcoin. You order a beer and pay with bitcoin using the contactless payment system from your phone. Your phone offers to get the cleaner in to tidy up the house before you arrive home but you decide against it as the place wasn't too messy when you left. It is the end of the month and whilst you wait your phone bill and electricity bills appear on the screen. Bugger you think and tap pay as they are paid instantly with a few precious satoshis debited from your wallet. Today is the local council election and using your cryptographically secure election coloured coin you received last month you decide to spoil your ballot and abstain after perusing the available candidates.

The cloud agent app informs the other smart devices in your home of your imminent arrival and the fridge responds that it is low on milk and groceries..would you like replacements ordered in and your usual schedule restarting? You tap yes and the fridge orders and pays for new supplies from your favourite supermarket instantly using bitcoin. The plane is delayed and the agent automatically delays the DAC autocab for you. You stretch your smart device to widen the screen and stream a new movie in 3d from netflix for a few bits.

Finally you land and after picking up your luggage you walk out to the taxi rank. Numerous empty driverless autocabs are waiting and you hold your phone against the door of the nearest vehicle. It opens and drives you home directly avoiding all red lights and traffic. You lug your bags up the stairs to your plush flat and hold your phone up to the door lock but to your horror discover the battery is dead and you are locked out - damn iphone 10 - should have got the android.

How is it not when everyone can host a node? ...because un-industrialized operations can't compete in the mining business any longer?

Who said it was? You've been mislead. In fact, the whole idea is that every transaction IS public knowledge.

Maybe we have different concepts of easy. I've personally found it extremely easy; I've sold OTC, bought and sold on market and fixed rate exchanges, used at brick and mortar as well as online. Every time so far, the transaction has been simple, fast and without issue. What makes bitcoin difficult for you to use?

I am beginning to think that you might just be a bitcoin bull deep down, Xiaoxiao. For how much misinformation you provide and the frequency with which you provide it, you may very well be a positive force in causing people to provide and formulate rebuttals to your arguments, thus strengthening and broadening an understanding of bitcoin. For that, thank you.


Edit:Yes, I like your vision! Love that bitcoin is so much more than a currency, but a powerful, multipurpose token as your scenario nicely illustrates.

Bitcoin has reached its full potential when you store your bitcoin hot wallet on your smartphone or hardware wallet. Additionally saved to your bitcoin hotwallet private key, you will have a pair of private car keys and the home key stored on your device. You will need the keys to start the engine of your car, and you will sell your car by transferring the token through the blockchain to the new owner in exchange to some satoshi.

Start using your brain and start to see the future.

he may be referring to volume instead of number of transactions:

https://blockchain.info/charts/estimated-transaction-volume
..however, he's still incorrect.

it has, in fact, about doubled in the last 60 days:
https://blockchain.info/charts/estimated-transaction-volume?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

You are misinformed, daily transactions are near an all time high:

https://blockchain.info/charts/n-transactions
https://blockchain.info/charts/n-transactions-excluding-popular

You do understand nothing goes straight up right? Try zooming out on the price and transaction volume charts.

Full potential after 5 years?  

Bitcoin Core is still 0.9.2.1.  The entire Bitcoin development is effectively still in Beta phase.

We are still in the Innovation/early adopther phase of this curve.  Not even a fraction of full potential.

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?

And yet the price continues tanking and the daily transaction volumes keep falling. 

OP, go buy an ounce of gold.

Someone tell PayPal, Expedia. Dell, newegg, overstock, dish etc..

Plonker.

Point is that only 2-3 million people will ever have bitcoin because it is a failure and no one gives a fuck about it, and why would they? Most people dont give a shit and there is no good reason for them to start caring, bitcoin doesn't fix any problems the blockchain does , but the coin itself does not. 

OP says bitcoin hit its full potential, when only 2-3M people out of 7B worldwide actually have any bitcoin yet?

bitcoin has not even scratched its potential.


~ $100,000 per bitcoin in the next 5 yrs ~

Bitcoin needs a few more years to really hit mainstream.

It's unacurate to say Bitcoin its know "by the world", what the fuck that even means when if you go to the street and ask 10 people, probably 1 or even 0 will know what Bitcoin is. Go and try it actually.

Are you kidding?

Jesus people, where's your imagination and insight into the actual development of various bitcoin related projects?