Topic: What if Bitcoin Never increases in "Value"? - page 2. (Read 4619 times)

Currency always fluctuates against each other, you can take a look at Japanese yen, which has lost 50% of its value in two years against USD and other major currencies

In the long run, there is only one sure thing: All the fiat money will losing value quickly, because the debt based money issuing will require exponential increase in debt and productivity, and eventually productivity will rise slower and slower (if bitcoin's value keep rising exponentially, the game could last another century or so)

Hope you slept well. Bitmit, being a marketplace, why would it be a problem if they were based in an offshore location?

if you keep mining w your cpu it can't ever be dead

When valued against USD or GBP.

I know a lot of people believe it's gonna go to the moon.. or at least rise steadily into the 1000's of dollars and a lot of people believe it's a Ponzi scheme which will eventually leave Bitcoin worthless but what if Bitcoin does nothing, it just sticks around the £200 - £250 mark forever?

Oh ok, moving offshore would not help them, in such a "sensitive" case govs can order DNS to drop names and ISPs to drop static IP addresses.

Centralized server system is easier to create/debug but cannot be used for any potentially disruptive system, it will be swatted like an annoying fly.

P.S. very darknets can be made using stenographic data riding on whitelisted data, so do not despair, there will always be a free path even if it's a very slow baud rate.

edit: I enjoyed my exchange with you Cryptowatch, I'm going to sleep now, catch you later.

If it stays stable at a certain price range, then it should be a good thing. Business owners will have more confidence and this will certainly encourage use and adoption. forget about the speculator and day trader who hoped to see insanely increase in price jump. These are the people who caused all the uncertainty and creates doubt about bitcoin future

cortex, no my bad - I referred to bitmit.net.

cortex7, good response. What do you think about meshnets? Darknet, cjdns etc?

I agree with the facts you presented.

Ie.

Fiat is created out of thin air - no work required.
Bitcoin is created by computing work - however this work is done by machines, not humans.
Gold is extracted from earth by industrial labour.

The original code for bitcoin was created by Satoshi, one or more individuals. You could say this was created out of 'thin air' as well, as there's no physical substance behind Bitcoin, as there's no physical substance behind Fiat money.

In that particular regards fiat and bitcoin is a bit the same, but still very different - you cannot fake a bitcoin to my knowledge, whereas fake dollar bills is not uncommon.

The most important difference is centralized vs decentralized.

Also one of the most interesting aspects is that Bitcoin has no judgement. To use fiat money, esp. online, you need to be approved by the bank. To use a bitcoin wallet, you need no approval whatsoever.

As for the bitmint case, if they were successful, why did they not move offshore? I understand they were successfull?

That's the truth. Well spoken. What happend to bitmint really. They were hacked, and lost some coins and gave up easily,or was there any other reasons?

Also your quote:


I wonder, will not bitcoin succeed because it can do what fiat does, but more easily? I'm thinking about international wiretransfers. Bitcoins can do this easier, than the current bank system. Is that not reason enough for Bitcoin to get more market share than the traditional financial industry?

Also, I'm stumped as to why people always point to the 'full faith and backing by the government' when pointing to fiat currency. This currency is to the best of my knowledge created out of thin air, just like bitcoins - is there any money that's not created out of thin air? In my world it gets more respect to stand up for your own opinions, than to adhere to the view of the masses.

As for people doing what others do, isn't that some kind of self preserving protection, nobody wants to stand out, they wants to blend in and be accepted.

As for people doing what others do, isn't that some kind of self preserving protection, nobody wants to stand out, they wants to blend in and be accepted.

Haha, yes most people just do as those around them do, if that's riding bicycles then that's great , stuff like war etc... not so good

Price will rise and volatility will subside when way before mass adoption happens.

Mass adoption won't happen until we can do something with bitcoin that we can't do with fiat.

Considering that current centralised marketplace solutions (ala ebay) all require users to have bank accounts and/or mobile phones, well hell there's a massive untapped market there.

When/if that happens then bitcoin will go "to da moon"

Mass adoption won't happen until we can do something with bitcoin that we can't do with fiat.

Imagine that all fiat currencies would be dead tomorrow. There was no EUR, no GBP, no USD, no JPY.

It was only Bitcoin. Would the world stop to exist? No.

There would be no other fiat currencies in existence. Imagine that.

Now - let's say we didn't have any knowledge about former exchange rates. We had to start from scratch.

Perhaps we now said that a cup of coffee costs 10 bits.

And everyone would be free to price their merchandise and services up in bits or bitcoins.

There would only be bitcoins. Think about that for a moment.

This is the truth.

I'm a bit stumped, as to the idiocy of the masses.

For example, in the nordic Country Denmark, in their capitol Copenhagen, a lot of people use bicycles, and in general this is a very bicycle-friendly city.

However, most people do not use bikes in this city because they're concerned about their environment, or because they're concerned about their own health, or because they want to save money. When surveyed most people simply reply that the reason they use bicycles is because that's the fastest and most convenient method to get from A to B.

While I understand that on a larger scale, I don't get it from an individual standpoint. So people are saying that if it was quicker by car, they would use a car, and fuck the environment and their own health and wallet? I know that's polarizing it, but still..

For bitcoin to become useful on a large scale, there must be built end user systems that are safe and convenient, which is not an easy task. And I guess for it to outperform other payment systems, it must be so convenient to use, that it's simply the easiest way to pay or sell anything.

And of course, the volatily issue is also a real issue for many people, whereas enthusiasts happily add twice the needed amount to their mobile wallet just to be sure, not everyone could afford that.

Personally, I think the privacy and freedom aspects of bitcoin far outweigh any usability issues, but as you say, the masses are just concerned with selling and buying, and that's it - and I think this is a bit sad.