When would be the moment you consider BTC's future is assured? - page 2.

gentlemand

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Quote from: Amph on May 11, 2015, 02:07:17 AM

well but this means that you will dump at some point, and if everybody will do this then it's not really assured...unless you plan to hold a big portion or whatever

I would hope that the thinking among most is that there'll be a moment where selling becomes irrelevant or simply a pointless idea. It won't become a proper success unless it becomes much more widely accepted. I stuck my money in with the intention of never taking it out.

Daniel91

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In my opinion, when BTC become a common method of payment on the Internet, and send and receive money as it is currently paypal.
Bitcoin value should stabilize and BTC enter the main media, TV; radio, main newspapers etc.
Average users should be informed and educated about Bitcoin, in order to understand its advantages and disadvantages.
Only then I will consider that BTC's future is assured.

futureofbitcoin

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Quote from: inBitweTrust on May 10, 2015, 05:31:06 PM

Quote from: futureofbitcoin on May 10, 2015, 03:41:51 PM

That's what "nothing" means, my friend. I can write some words on a piece of paper and tell my little 5 year old niece it's money and use it with her. That doesn't make it valuable...

Sure it does. As long as both people agree that it is a token that represents value and it is honored, it will become "futureofbitcoin" fiat currency with the utility of demarcating an IOU which does represent value (although rather small).

I will personally buy all bitcoin that gets minted if no one else does. It will never go to "nothing"

The two person example was a worst case scenario as well as the number of bitcoin fanatics that are unlikely to stray from this project amount to between 200k-1 million of the 4-7 million bitcoin owners. That is a decent market of ideological supporters that can maintain and grow it regardless of what obstacles are presented.

See, you're arguing semantics, not the point itself. One shouldn't need to type "bitcoin will have less than 4 users transacting values of less than 50 dollars (USD value at 4:33pm EST, May 11th, 2015) per week..." It's extremely tedious, and unnecessary. Most people understand that "nothing", or "bitcoin is dead" simply implies that there will be very few people using it, if at all. Bitcoin doesn't have to literally become "alive" scientifically, then "die".

I suspect that there are way fewer number of hardcore ideological supporters. Most probably sympathize with the ideology, but will give up if they realize that bitcoin becomes impractical because very, very few people accept it. Plus all the services that are run by people driving by profit instead of ideology will close down, breaking most of bitcoin's infrastructure.

It might still be used among a few thousand people. I think most reasonable people would be okay with calling that "bitcoin is dead" or something similar.

*Note i'm not saying the above scenario will happen, I'm just trying to explain that saying "bitcoin will never go to nothing because I will always own it" is silly. arguing about the semantics is not practical or useful in any way.

Amph

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Quote from: fryarminer on May 11, 2015, 02:03:46 AM

Quote from: inBitweTrust on May 10, 2015, 09:52:29 AM

BTC's future is already assured as there are enough idealogues like myself that aren't going to give up on it. We will force it to adapt and grow if need be. Satoshi pointed us to the future and we are going to follow this project through.

What he said. Bitcoin is here to stay. No way I'm selling my coins even at the price that the market is at right now, and I'm sure there's a lot of people who feel the same.

well but this means that you will dump at some point, and if everybody will do this then it's not really assured...unless you plan to hold a big portion or whatever

fryarminer

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Quote from: inBitweTrust on May 10, 2015, 09:52:29 AM

BTC's future is already assured as there are enough idealogues like myself that aren't going to give up on it. We will force it to adapt and grow if need be. Satoshi pointed us to the future and we are going to follow this project through.

What he said. Bitcoin is here to stay. No way I'm selling my coins even at the price that the market is at right now, and I'm sure there's a lot of people who feel the same.

Slark

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Quote from: SRG on May 10, 2015, 05:34:12 PM

Never, sorry. Bitcoin is new technology and there is always the possibility that something will come up that hurts the protocol.

Don't get me wrong, I love bitcoin, but never can be sure.

While bitcoin's protocol can be changed. You can't change it on the whim by bitcoin developers, you will need consensus of majority of bitcoin users for that change.
An I can agree with you that for now there's no guarantee that if you invest your money in bitcoin you will win the future... There is too many positive news that have no effect on bitcoin imo.

SRG

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Never, sorry. Bitcoin is new technology and there is always the possibility that something will come up that hurts the protocol.

Don't get me wrong, I love bitcoin, but never can be sure.

inBitweTrust

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Quote from: futureofbitcoin on May 10, 2015, 03:41:51 PM

That's what "nothing" means, my friend. I can write some words on a piece of paper and tell my little 5 year old niece it's money and use it with her. That doesn't make it valuable...

Sure it does. As long as both people agree that it is a token that represents value and it is honored, it will become "futureofbitcoin" fiat currency with the utility of demarcating an IOU which does represent value (although rather small).

I will personally buy all bitcoin that gets minted if no one else does. It will never go to "nothing"

The two person example was a worst case scenario as well as the number of bitcoin fanatics that are unlikely to stray from this project amount to between 200k-1 million of the 4-7 million bitcoin owners. That is a decent market of ideological supporters that can maintain and grow it regardless of what obstacles are presented.

futureofbitcoin

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Quote from: inBitweTrust on May 10, 2015, 02:43:32 PM

All it takes is 2 bitcoin fanatics to create the smallest market of trading and to mine and purchase up all the coins. If they cannot afford security than they will merely have to perform a fork and add a TapoS/PoS algo ontop of PoW. Bitcoin is assured as long as enough of us fanatics give it value and is unlikely to drop to 0 in my lifetime even if it is traded as a game/token by collectors for sentimental value.

Bitcoin is an open source project with certain fundamental principles and the ability for the mechanics or details to evolve. This is why bitcoins future(80years +) is assured.

That's what "nothing" means, my friend. I can write some words on a piece of paper and tell my little 5 year old niece it's money and use it with her. That doesn't make it valuable...

inBitweTrust

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Quote from: shulio on May 10, 2015, 02:13:19 PM

Quote from: inBitweTrust on May 10, 2015, 09:52:29 AM

BTC's future is already assured as there are enough idealogues like myself that aren't going to give up on it. We will force it to adapt and grow if need be. Satoshi pointed us to the future and we are going to follow this project through.

Satoshi pointed us to an unsure future. He said himself that in few years ahead there will be alot of bitcoin transaction or it will be nothing by then. Satoshi means that he , himself is not sure about the future either because at the end, fiat will always win because goverment support it

Satoshi didn't get everything right or perhaps he was correct at the time, but certainly that comment doesn't apply now. Will Bitcoin be around in 80 years?.... who knows, all currencies eventually fail as history has proven.

I have often heard that statement repeated by journalists and bitcoin advocates alike... " Bitcoin will either be worth 100ks/millions or nothing" and it is complete bullocks. All it takes is 2 bitcoin fanatics to create the smallest market of trading and to mine and purchase up all the coins. If they cannot afford security than they will merely have to perform a fork and add a TapoS/PoS algo ontop of PoW. Bitcoin is assured as long as enough of us fanatics give it value and is unlikely to drop to 0 in my lifetime even if it is traded as a game/token by collectors for sentimental value.

Bitcoin is an open source project with certain fundamental principles and the ability for the mechanics or details to evolve. This is why bitcoins future(80years +) is assured.

shulio

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Quote from: inBitweTrust on May 10, 2015, 09:52:29 AM

BTC's future is already assured as there are enough idealogues like myself that aren't going to give up on it. We will force it to adapt and grow if need be. Satoshi pointed us to the future and we are going to follow this project through.

Satoshi pointed us to an unsure future. He said himself that in few years ahead there will be alot of bitcoin transaction or it will be nothing by then. Satoshi means that he , himself is not sure about the future either because at the end, fiat will always win because goverment support it

Slark

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Quote from: okae on May 10, 2015, 01:02:48 PM

Quote from: Meuh6879 on May 10, 2015, 09:40:26 AM

when i can pay in my local supermarket ... Roll Eyes

lol, not a bad idea Tongue

nah, seriously, i think that our main problem is about what ppl have in mind, most of that ppl still beleive in those corrupt bank systems, all of them corrupted, thats the key, to show ppl that here is a real alternative that can work, not to replace the entire economic system 100% but maybe coexist.

Forget about replacing banks and current economy system with bitcoin financial tech. That won't happen in our lifetime and I doubt - even in 100 years. This system is too big, bloated and well established.
We need to start small. For me future of bitcoin will be assured when I will know that my coins over night won't lose 1/3 of their value. For now it is too volatile.

gentlemand

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Quote from: randy8777 on May 10, 2015, 01:34:10 PM

1. buying bitcoin needs to be much easier than it is now. 2. we must be able to pay in retail stores around the world in every sort of store. 3. banks and law must change their unfriendly policy towards bitcoin. 4. getting rid of current exchanges and only use something like a stock exchange with the same security etc.

I think 1 and 4 are probably the most important right now. Once they've been dealt with the other two will eventually flow. It consistently blows my mind that it's gotten as far as it has with the historic exchange situation.

randy8777

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1. buying bitcoin needs to be much easier than it is now. 2. we must be able to pay in retail stores around the world in every sort of store. 3. banks and law must change their unfriendly policy towards bitcoin. 4. getting rid of current exchanges and only use something like a stock exchange with the same security etc.

okae

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Quote from: Meuh6879 on May 10, 2015, 09:40:26 AM

when i can pay in my local supermarket ... Roll Eyes

lol, not a bad idea Tongue

nah, seriously, i think that our main problem is about what ppl have in mind, most of that ppl still beleive in those corrupt bank systems, all of them corrupted, thats the key, to show ppl that here is a real alternative that can work, not to replace the entire economic system 100% but maybe coexist.

Sheldor333

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When it becomes available everywhere and people use it on daily basis.

thejaytiesto

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I would say it's already assured, since we got billonaires invested. What im looking forward to ise to see how the blocksize limit controversy turns out, since it seems a pretty big deal due lack of consensus. It should turn out ok, we've been through heavier shit.

Amph

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Quote from: bornil267645 on May 10, 2015, 11:05:13 AM

I am really waiting for the day when Bitcoin finally will have a secure prize and I will use it under a fixed price exchange. Then I can say that the future of the bitcoin is assured.

well a thing like this need a huge marketcap first, not a tiny one like we have now, then you need plenty if not basically everyone using bitcoin

stable price/bigger market cap/adoption, they are all tied together, and they are the three keys to to make bitcoin established

gentlemand

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Quote from: bornil267645 on May 10, 2015, 11:05:13 AM

I am really waiting for the day when Bitcoin finally will have a secure prize and I will use it under a fixed price exchange. Then I can say that the future of the bitcoin is assured.

Gold's history in finance spans several thousand years and it still can't pull that off.

The only way that might be conceivable is if it's adopted by every single country on Earth and they discard everything else. Until then there'll always be a bit of action even if it becomes more sluggish the bigger it becomes.

pawel7777

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Quote from: bornil267645 on May 10, 2015, 11:05:13 AM

I am really waiting for the day when Bitcoin finally will have a secure prize and I will use it under a fixed price exchange. Then I can say that the future of the bitcoin is assured.

It's either freely tradable (free market) or fixed price. Pick one. You can't have both.

Topic: When would be the moment you consider BTC's future is assured? - page 2. (Read 2366 times)