Topic: We already passed the tipping point of BTC - page 3. (Read 14171 times)

Not even close to the tipping point.  All of your points can be said for 1994 before the Internet hit mainstream.

Your scenario about a BTC doom computer in the future is just that - in the future, which does NOT mean that BTC is NOT adding value today and that BTC and/or its technologies are NOT going to continue adding value for quite some time into the future... If and/or when such a BTC doom computer comes about in the future, then we can cross that bridge at that time, and surely there are various engineering and programming maneuvers that can be used to safeguard, modify or prevent some of this doom and/or gloom that you are projecting in the distant and uncertain BTC future.

YES!!!!   I think that was the point of the thread to get us to speculate about whether BTC is at a tipping point or NOT.   

You, Leex1528, are seem to be suggesting that we should discredit all of the speculation b/c NOBODY knows the direction of BTC...  There  is some truth to that statement, but it seems to be overstated.

Personally, I question your viewpoint b/c even though NOBODY knows for sure about the direction of BTC, people who analyze and who become informed about the technologies surrounding BTC and the marketing and the adoption and the liquidation opportunities and the investments can place various probabilities on various outcomes and predict various probabilities regarding the direction of BTC...

I think that there are a full range of possibilities in the direction of BTC that have NOT completely worked themselves out yet, including potentials for the development of near complete hostility towards BTC, yet there are various aspects of BTC (cat's out of the bag), that cannot be undone... and we cannot go back to uninvent some of the innovative aspects of BTC that may continue to be carried out by BTC and as we have seen have been adopted by other innovations, including competing crypto-currencies.

Don't think too much....

Where the hell did I say anything about an unknown coin in my reply to you? Do I have to teach you how to read? The whole point is that BTC is doomed, tipping point or not. Re-read my post.

I think you are missing the point....

I am not talking about what unknown coin is out there or anything that will be the next big thing.

I am simply talking about No one knows what Bitcoin will be, so its silly to assume that we have passed the tipping point, or hasn't even reached close to its potential.  Like I said, we are all guessing and hoping.

Yes, bitcoin is at least moving forward for sure, the price got much much more stable, dell started accepting BTC not long ago and there are much more sites that accepts BTC. I hope bitcoin will reach Its destination.

Please, spare us the BS. "A child's toy in the future will put to shame the combined might of all the computers on earth right now." He's the next guy you're talking about. That's all we have to know.

No one knows anything as much as the next guy.  We can all hope and "speculate" all we want but when it comes down to it we are simply guessing.  How many people knew that bitcoin would even get this big?  I don't think a lot of people ever thought it would become this.

"BitCoin is a fiat currency without an intrinsic value, highly volatile and detached from the real economy. That's what makes it a very very risky investment IMHO."


total bullshit. its a payment network that has never existed before and its not a fiat currency that is based on nothing.

BTC is global. fee free. instant. independent. whats the worth of such a unique, worldwide network? Alot.


but yes, its a risky investment  

Your statement doesn't seem to mean too much... waiting to happen?    It is already happening, no?  Maybe you are suggesting that it (BTC) is going to get bigger?

I think BTCevo already responded that s/he "heard" these things... Sounds like s/he is just attempting to spread FUD..

BTC is the next big thing waiting to happen!

Yes... much better in my thinking for us to delve into substantive issues, yet surely I am NO expert at all issues (especially complicated ones), even though I do have my opinions (views) regarding your various questions regarding the future of bitcoin.





From these two questions, I gather you are talking about two related issues... one issue is the appreciation in BTC prices and then the other issue is the decrease in the supply of BTC - over time and in the longer time future.  I find it a little more easy to respond to them in the reverse order.... or in combination...

As you suggested, the growth of BTC supply is fairly extensive in the beginning - with the allowance of 50BTC blocks every 10 minutes for the first 4 years (2009 to 2012), and then 25 BTC blocks every 10 minutes the second 4 years (2013-2016) , and then halfing every 4 years thereafter, which will cause a large majority of the coins to be mined fairly quickly and early on (which I read as half of the coins are mined in the first 4 years.. then 25% in the next 4 years... etc etc)... So by the year about 2140 all of the blocks of coins will be mined.. but many more blocks are mined in the very beginning (front loaded). 

There are a lot of complicated factors in describing how BTC prices have grown in the past 5 years, including increased adoption and speculation and investments... so as adoption of BTC grows and its network and its applications and its liquidity, the price will continue to grow at a fairly high rate (some call this anticipated exponential growth).  Some have estimated (including forum members Slippery Slope and Peter R and maybe some others) that there will be something like 10x growth per year during the first half of the adoption phase of BTC...  (surely this is bullish to the extreme) and depending on how wide-spread BTC becomes adopted, 1/2 of BTC's adoption phase could last for several years into the future...   Currently probably less than 5% of the world's population have heard about BTC and less than 1% have considered investing in BTC and less than .01% have actually established some kind of holdings in BTC above .001BTC.......   So there appears to be quite a lot of room for growth and adoption of BTC... in order to take us through the first half of its adoption phase.

Thereafter, the adoption phase would taper off and the price growth rate of BTC would also taper off.  Maybe we do NOT believe in the exponential growth rate of 10X per year and instead we believe 5x or 2x or .5x or .1x or some other variation?  Nonetheless, it is very likely that any particular growth rate will NOT be easy to predict or even that the growth rate may NOT even comply with any previous models regarding how a similar asset should grow.  NO matter what the growth rate, the growth rate will affect price, both up and down... and there are so many people who are bullish about the growth of BTC based on these theories of growth... and some bears follow these theories and agree with them and some bears think the various exponential growth theories are rubbish.

In the end, there remains enough subunits of BTC (since BTC is divisible into 100 million sub-units (satoshis) per BTC) to supply the whole economic system with a small supply of BTC, and additionally, there could be a fork in the BTC blockchain that would allow for BTC to be divided into even smaller units.. if needed to supply the needed currency or storage of value or transmission of value or public ledger or other features....  BTC has several ways to flex to accommodate growth..

Your presentation of growth of BTC as a "problem" is very speculative into the way distance future or over problems that are NOT as wide-spread as you are making them out to be. Of course, these kinds of potential "problem" matters should be accounted for, but we really do NOT need to know the answers to all of these kinds of potential "problem" questions in order to know that BTC is a good value and a good investment today.. a good investment that may have some problems in the present that are being worked on and potential and anticipated problems in the future... but these various problems are NOT insurmountable (at least NOT insurmountable at the moment).  Surely, there could be some unanticipated problems too... or some of the problems could become insurmountable... but to-date, the various listed and known problems are NOT insurmountable. 

Regarding value:  Any new and/or innovative system such as the internet, or the telephone network or certain companies such as microsoft and facebook, have experienced variations of exponential growth in their use and in their value and the transfer of wealth from one group of people to other people who had invested into the new businesses and/or the new paradigms.. same is true for BTC...   BTC could be a winner or a loser, and in my humble bumble opinion, it is up to people to decide whether and how much to invest... and it seems better for those peeps who hear and learn about BTC earlier rather than later.

You can assume the doom and gloom of BTC all you want, and that is fine for you b/c you are correct that there are potential obstacles that need to be overcome (and some are mere speculations into a very distant future), yet a large number of the people participating in this forum, are invested, interested and informed about various crypto currencies.. including BTC.. but NOT necessarily locked into their various investments. 

If a person believes that his/her investment into BTC is NOT paying off or is NOT panning-out as expected, then s/he can transfer his/her proceeds of his/her investment to some other asset class.... or even back into fiat, if s/he thinks that tranfering back to fiat or even into some other investment is the more prudent, safer or better course of action.






I think I have already addressed these kinds of issues with my above response, yet regarding quantum computing, we will need to see whether those kinds of technologies would necessarily undermine BTC's network of computer systems, its mining or its security.. all of which are continuing to be developed and built upon.   

And, in the event that a superior alt coin comes along, then we can cross that bridge when we get there.  At the moment, BTC has more than 95% of all of the crypto-currency market share, and BTC is the big gorilla and best game in town... If a competitor or two to BTC comes to be a challenge to BTC in which BTC is unable to absorb some of the features of the competitor alt(s), then investors can switch over to those kinds of coins.. b/c NO alt is going to take over all of BTC's market share in one swell swoop... absent some major technical glitch.. so, if a serious competitor comes along, then I would expect some NOTICE and signs..   

In my opinion, BTC remains the best in the crypto currency world and likely among the better investments as a whole... of course with any investment, people need to consider their total investment portfolio and consider the extent to which they are adequately diversified.  Personally, I have been putting a very large percentage of my new investment money into BTC - yet BTC occupies less than 10% of my total investment portfolio... even though it is a very large percentage of new investments that I make... b/c I consider BTC to be a GREAT current value (a great risk to value ratio).

Hopefully, this helps, even though a bit of a long answer.

What illegal side are you implying? Thought silk road is long gone.

And you are supposed to be a lite coin guy 

You seem to be a reasonable man. Let's keep with the topic at hand and ask yourself the good questions. Why is it that BTC growth rate increased by 8000%. According to the predictions, when there will be no more BTC available in 2124, what will happen to the growth rate?

Again, even before those 12 million BTC left will be exhausted, guess what happens when quantum computing makes its debut? (not to mention the security issue, and the fact that is highly likely that it will be replaced by an altcoin that will have something more to offer, such as anonymat).

There..... Above, I fixed your response to me b/c it looked like you were citing me, so your response had gotten lost in my text...


Let me add that:  I agree with you in part that our experiences are a combination of emotions and thinking; however, part of my point in my earlier posts was that your posts had seemed to be fairly heavy and laden on the emotions and fairly light and nearly completely lacking in the thought department.  

HOPEFULLY, you will be able work on making improvements in your attempts to balance emotions and thoughts; however, for some reason I am inclined to conclude that you are disinclined towards making improvements in how you come across... maybe even bordering upon intentionally setting forth attempts at the distributions of shock-provoking contents.   Too bad about that.  

Well, your current opinion seems to be based on last year's news... and you need to get updated in the information that apparently is causing you to come to those seemingly negative propagandistic conclusions.