What would make you really worry? | Bitcointalksearch.org

Natalia_AnatolioPAMM

full member

Activity: 280

Merit: 100

Quote from: okthen on March 23, 2015, 07:38:48 PM

Quote from: Natalia_AnatolioPAMM on March 23, 2015, 10:47:58 AM

Quote from: Amph on March 20, 2015, 01:32:40 PM

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

take a look at the litecoin ,doesn't deem too likely for bitcoin to be ever replaced

Well I don't think litecoin is a good example of a coin that could replace bitcoin, as they're structurally identical.
It would have to be a crypto that really brought something new, either in terms of speed, cost, anonymity, etc. Such currencies exist, but bitcoin has such a huge head start that it would take an exceptional alternative to replace it.

Maybe, maybe. I think that something like Bitcoin 2.0 is more likely to happen. A better version of bitcoin, which will stay for much longer time. More liquid, flexible, spread world-wide.. Imperialistic thoughts

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

If the cryptographic one-way functions are reversible in some way. Or people jump to some alt coin that manages to really challenge Bitcoin. That's about it. The finite supply is always on our side!

Ghostface

member

Activity: 68

Merit: 10

Quote from: Amph on March 23, 2015, 03:03:05 AM

Quote from: calme on March 20, 2015, 08:55:53 PM

Quote from: Melbustus on March 20, 2015, 01:27:10 PM

If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

Those people could never stop us. We've been doing whatever we wanted since childhood. Fuck doing dishes, we played video games. If they make bad laws, we'll create new ones.

they can't stop bitcoin trading at all, you could always trade it face to face, if you know what you are doing.

in the worst case scenario we could use bitcoin to buy used thing, to evade taxes

Making it illegal or putting heavy restrictions on it will just push its use underground and trades would happen face to face, but putiing such severe restrictions on it could be the death blow to it being used as a legit currency which is what we want.

matrix zion

sr. member

Activity: 381

Merit: 251

no worry ...Bitcoin survived on the market since 2009 for some reason.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: okthen on March 23, 2015, 07:38:48 PM

Well I don't think litecoin is a good example of a coin that could replace bitcoin, as they're structurally identical.
It would have to be a crypto that really brought something new, either in terms of speed, cost, anonymity, etc. Such currencies exist, but bitcoin has such a huge head start that it would take an exceptional alternative to replace it.

Something a five year old could use without the remotest possibility of them ballsing it up is what the world is waiting for. That's a layer that could be built on top of BTC though.

okthen

hero member

Activity: 490

Merit: 500

Quote from: Natalia_AnatolioPAMM on March 23, 2015, 10:47:58 AM

Quote from: Amph on March 20, 2015, 01:32:40 PM

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

take a look at the litecoin ,doesn't deem too likely for bitcoin to be ever replaced

Well I don't think litecoin is a good example of a coin that could replace bitcoin, as they're structurally identical.
It would have to be a crypto that really brought something new, either in terms of speed, cost, anonymity, etc. Such currencies exist, but bitcoin has such a huge head start that it would take an exceptional alternative to replace it.

Natalia_AnatolioPAMM

full member

Activity: 280

Merit: 100

Quote from: Amph on March 20, 2015, 01:32:40 PM

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

take a look at the litecoin ,doesn't deem too likely for bitcoin to be ever replaced

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: calme on March 20, 2015, 08:55:53 PM

Quote from: Melbustus on March 20, 2015, 01:27:10 PM

If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

Those people could never stop us. We've been doing whatever we wanted since childhood. Fuck doing dishes, we played video games. If they make bad laws, we'll create new ones.

they can't stop bitcoin trading at all, you could always trade it face to face, if you know what you are doing.

in the worst case scenario we could use bitcoin to buy used thing, to evade taxes

Ibian

legendary

Activity: 2268

Merit: 1278

I'm jumping for joy over the low price. Good for certain other investments.

Wary

hero member

Activity: 798

Merit: 1000

Who's there?

Quote from: Snipe85 on March 20, 2015, 01:29:21 PM

Only a major ban by the USA or China, a series of exchange bankruptcies or hacks.

In fact, all of the above have already happened:

exchange hack - tick (Gox & Stamp).
exchange bankrupcy - tick (Gox).
Ban by USA - tick (the "cease and desist" order send to the Bitcoin Foundation in 2013 Grin

).
Ban by China - tick (more than once Grin

)

And despite of all of it, bitcoin is still alive and kicking. The Honey Badger of Money it is

minerbit hill

sr. member

Activity: 246

Merit: 250

if you are desperate and impulsive. bitcoin is not for you

randy8777

legendary

Activity: 896

Merit: 1000

currently nothing can replace bitcoin as many many bitcoiners have faith and believe in bitcoin.
that being said, that doesn't mean it can't get replaced in the future by something better.

isasim

jr. member

Activity: 33

Merit: 20

what demands prompt and support the rise of the cryptcoin(bitcoin,altcoin) industry.

BTC-Bank

member

Activity: 126

Merit: 10

Something it really make me worry for the future of Bitcoins is the attempts of regulations wich not really means an end but is a serious hit also a bigger thought in my personal opinion is mostly us, people who love Bitcoin and are involved with Bitcoin many of us see it from the other side as only an investment opportunity in many markets and investing ways short or long but i will be more happy when Bitcoin reach the level of use the level who we wont think it as an investment as i am not seeing my euro trade coin everyday as an investment so for me the mainly worry is this and this is the only thing will prove that Bitcoin is not a ''bubble'' as they like to say and is a form of money who came to change the whole idea in our lives.So i worry most for us and the way the most people see it.These are my thoughts and my personal opinion of course. Cool

Kind Regards,
BTC-Bank.

calme

sr. member

Activity: 392

Merit: 250

Quote from: Melbustus on March 20, 2015, 01:27:10 PM

If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

Those people could never stop us. We've been doing whatever we wanted since childhood. Fuck doing dishes, we played video games. If they make bad laws, we'll create new ones.

Q7

sr. member

Activity: 448

Merit: 250

My only worry is that the pump and dump trend actually makes people lose confidence. Just like yourself, I'm not putting money which I can't afford to lose. My hope is to see bitcoin become widely adopted in the near future. But looking at the trend where and how the price is moving, this will turn off mass adoption by the retailers and such. People need to have confidence in bitcoin.

Dilla

hero member

Activity: 588

Merit: 500

Since I haven't invested more than I care to lose, I would regret not investing more if it shoots up from here to 4 or more digits. If it tanks, oh well, I still have my normal life.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: abyrnes81 on March 20, 2015, 01:39:25 PM

Quote from: Amph on March 20, 2015, 01:32:40 PM

if another currency replace bitcoin, after its adoption is complete or in a very good position, many would lose a tons of money, although the transition happen gradually

If someone can create a 'thing' better then bitcoin then I think almost all the bitcoiners will abandon bitcoin and follow the other coin, like ethereum (oh wait it doesn't exist Grin

). The better thing for the future will be a currency not inflationary or deflationary (a sort of equality and auto-regulatory).

i agree, but many will lose money because of this, that's my concern, the passage will not be in painless

Melbustus

legendary

Activity: 1722

Merit: 1004

Quote from: ThatDGuy on March 20, 2015, 02:22:30 PM

Quote from: Melbustus on March 20, 2015, 01:27:10 PM

If you asked me that in early 2012, I would've said something along the lines of: Getting over the hurdle of getting enough people to understand bitcoin that it develops a self-sustaining community.

That seems to have happened. We have hundreds of bitcoin-focused companies building tools and services; even if 90% fail (which is typical of startups), we still have a solid core. There's been over $600M in VC poured into Bitcoin, the fruits of which we're only beginning to see (this trails 1-3yrs, at least), bitcoin is accepted by some of the biggest companies in the world, and bitcoin is being seriously discussed at high levels of government, the corporate/finance world, and academia.

If in 2012 you told me that it would only take 3 years to get to where we are today, I would've written it off as very unlikely. The magic part has probably already happened... As Wences Casares of Xapo likes to say, it's probably far more unlikely to have gone from 0 to where we are today, than to go from where we are today to 1 billion users eventually.

So what worries me? With the perspective of having seen this ecosystem develop over the past 4 years, not that much. While it's still a coin-toss what bitcoin's ultimate fate is, there's far less to worry about than just a few years ago. If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

And if you're looking at charts day-to-day as a potential source of things to worry about, then you're doing this Bitcoin thing all wrong. Think long term.

This is where I'm at right now too, very well summarized.

Having been around to see and feel actual fear that it could go away, none of this price movement over the last few days has affected me, nor the 15 months on the way back down from 11/13.

All that said, do not put any money into BTC that you're emotionally attached to - because even knowing all of that, the violent price movements will beg emotion from you, and probably get it. Especially the first few major movements.

Yes, from an investment perspective, bitcoin is trial-by-fire for:
1) Truly understanding your own risk profile
2) Emotional fortitude
3) Conviction in your own analysis

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: Melbustus on March 20, 2015, 01:27:10 PM

If you asked me that in early 2012, I would've said something along the lines of: Getting over the hurdle of getting enough people to understand bitcoin that it develops a self-sustaining community.

That seems to have happened. We have hundreds of bitcoin-focused companies building tools and services; even if 90% fail (which is typical of startups), we still have a solid core. There's been over $600M in VC poured into Bitcoin, the fruits of which we're only beginning to see (this trails 1-3yrs, at least), bitcoin is accepted by some of the biggest companies in the world, and bitcoin is being seriously discussed at high levels of government, the corporate/finance world, and academia.

If in 2012 you told me that it would only take 3 years to get to where we are today, I would've written it off as very unlikely. The magic part has probably already happened... As Wences Casares of Xapo likes to say, it's probably far more unlikely to have gone from 0 to where we are today, than to go from where we are today to 1 billion users eventually.

So what worries me? With the perspective of having seen this ecosystem develop over the past 4 years, not that much. While it's still a coin-toss what bitcoin's ultimate fate is, there's far less to worry about than just a few years ago. If I had to give a concrete answer, perhaps some worldwide coordinated government crackdown on Bitcoin's legality....which seems highly unlikely.

And if you're looking at charts day-to-day as a potential source of things to worry about, then you're doing this Bitcoin thing all wrong. Think long term.

This is where I'm at right now too, very well summarized.

Having been around to see and feel actual fear that it could go away, none of this price movement over the last few days has affected me, nor the 15 months on the way back down from 11/13.

All that said, do not put any money into BTC that you're emotionally attached to - because even knowing all of that, the violent price movements will beg emotion from you, and probably get it. Especially the first few major movements.

Topic: What would make you really worry? (Read 2079 times)