Topic: Why Bitcoin is doomed to fail, and there's nothing you can do about it. (Read 39330 times)

stop trolling stupid bankers

The crypto currency   market comes to life.

Well there you go, this is perfect, now when Bitcoin is worthless and nobody uses it you can just say it didn't fail it's still good, see guys it's not in debt and it only takes me keeping a 1 terabyte file on my computer to spend 20BTC on a pizza that used to cost $20,000 BTC. If you are ever forced to admit that it failed as a sustainable currency you can say it was because people didn't believe in it enough because obviously it is was "due to pure speculation with no real monetary reason" as Putin would say. That's fine blame me, redefine fail it doesn't matter. Bitcoin rose in spite of the nay sayers due to innovation and it will fail in spite of the believers due poor network topology, an unsustainable arms race for mining equipment, and the unforeseen externalities of miner pools. I like decentralization but I won't let my Utopian dreams mask reality and I will speak the truth as I see it. Time will tell if I am wrong.

Let it fail? What does that even mean.  It is not some company that owes lots of money, it cannot go broke.  While Bitcoin has people that want Bitcoin/Freedom it is impossible for it to "fail".

Definition of fail = People not wanting it anymore

I want to support Bitcoin, clearly you don't.  But I will not have you remain here on this forum and try to "make it fail".

So please stop posting and leave this forum immediately.

Thanks

Hard call to make did anyone know 2 years ago when it was going to blow up? I don't think it has more than 3 years and I think it is going to be 3 years of steady price decline but maybe I am wrong. Maybe another economy collapses and tomorrow it is over $1,000 again. If you are asking for an exact date all I can say is if I was that good I wouldn't be selling out I would just be buying low and selling high and riding this whole thing to the bitter end playing the waves. Unfortunately I'm not that good, that's why I'm getting out why it is still worth my time to get out.

Its easy to say 'Bitcoin will fail', a 2 yr old could say that and have as much integrity as the op. Want to impress me?  When is it going to fail. So far, and when I say bitcoin I really mean blockchain technology used to trade work between 2 parties, with high security.

So I ask you OP when is bitcoin going to fail as a method to transfer currency from one person to another anonymously?  So far, it hasn't failed, its passed with flying colors everytime there is a transaction added to the blockchain that cannot be reversed ever.

I'm waiting for the date that bitcoin or blockchain technology fails. please.

I think your 'Question #1 is totally irrelevant.
                        Statement

I only read the first page so if something I say has already been addressed or is redundant forgive me for not going back through the whole thread. I have seen the writing on the wall BTC is a HUGE success that is doomed to failure. What does that mean? Well look back through history. Most of the best things we have today were brought here by failures. The Olds Motor Vehicle Company long term was a failed company but the assembly line improved our lives immeasurably, Nobody uses AOL any more but we all use an instant messenger, MySpace is all but gone but we all use social networks, and nobody trades in beads, seashells or salt anymore but we all use money. Bitcoin WILL FAIL. This is real disapointing to me since as a Libertarian electrical engineer this idea of Bitcoin really appealed to me philosophically and peaked my interest as a student and designer of systems. The network is unsustainable, the trust is unsustainable once any pool gets too big (this is coming sooner than you think), the blockchain bloat is unsustainable, and the transaction time was never sustainable as a long term solution, NEVER. However I say this with peace and love because the Blockchain WILL LIVE ON. It is a beautiful system that may (and I think it will) bring us decentralized currency one day as well as a whole host of other tools. I personally am in the process of selling my holdings and I am moving on to NODEcoin or maybe a better option if I find it. This house of cards is tumbling down and it is time to jump ship. This is not just me talking either many others are saying it, one of the most surprising ones lately was the Cato institute. They have every reason to want this thing to work, as do I, but the data is what the data is. Maybe I too will eat "humble pie" and kick myself for selling, time will tell. With all that said if you still browse these forums thank you Satoshi Nakamoto. You have changed the worlds in ways nobody even realizes yet.

For those who will froth at the mouth and say that I am all FUD I will leave you with this last thought. As I said earlier I am in the process of selling my holdings, I have not done it yet as all of my sell orders have not been hit yet. I have every reason to want this thing to surge in the near future. FUD is not the way to do that. I am saying this as a member of the community trying to be the voice of reason. Not as a troll and not as a FUDer. I am willing to entertain reasonable dialogue on this topic and discuss reasonable questions but for those who would only seek to attack me for an opinion of decent I have this to say

"It seems like you’re inclined to assume everything is wrong more than is actually so." ~Satoshi Nakamoto~

it has a deadline. what if oneday nobody can find a block any more? and that is the end of BTC

We went over this already clout, you keep on using this same strawman despite it being pointed out as a strawman before.
Fiat = "because I said so" money
Fiat =! only form of paper cash (you can have paper cash that isn't fiat)
Fiat =! paper cash only (also coin and digital)
Crypto =! only form of digital money possible (can also be fiat, gold backed, etc)

Also, if there is a currency collapse where people are no longer using government issued legal tender, then the "convenience" of digital currency is not going to be a deciding factor

also
Hilariously wrong

just throwing out a rough number,If not in my lifetime I am almost positive it will be in the next generations lifetime. bit coin is still young and no one even imagined this crypto currency could be pulled off it was just a pipe dream before it actually came to reality. A pipe dream made by the government displayed in various cartoons and movies. But even the citizens that dreamed of this currency never would of imagined it would be a currency that is not governed by anyone,it is so funny because it is not really tangible,yet it is real within. never mind this paragraph is getting too long. but if you really want facts just look around you,we are progressing,how many people do you even know that carries money?Everyone uses their bank cards I know. It is practically the same is bit coin because when you are using your debit card your money is no longer tangible. It is translated into cyber space and numbers just like bit coin.

People arent going to go to the store with gold and silver. Metals are a terrible medium of exchange which is why throughout history they are typically not used as the primary currency. Currencies should be a claim on asset and not the asset itself. Thus I can see a digital version of the gold and silver being the primary mediums of exchange. If I have a crypto currency that maintains the purchasing power of gold and entitles me to interests on my initial capital then  I would certainly use that over the physical asset.

Can I buy your 10mBTC for $800 USD?

wouldn't sell my bitcoin for a million dollars if it ever came to our government or the wealth of the world in general destroying it

go ahead man try n buy my .01 bitcoin off me just ask franked he'll tell you im krazy for bitcoins (sorry franky no more free bitcoin bets)

I don't think bitcoin is doomed, this is only the beginning.

Man I sure love these "bla bla bla 10 years" where are your facts?

While we are clearly rushing towards a fiat currency crisis. I have my doubts that it would be crypto that would replace it, rather than precious metals.

It'll be less than 10 years. We are on the verge of a currency crisis that will precipitate a global depression particularly in western nations.

the truth is that fiat will eventually be history and crypto currency will become the norm,might not be bit coin,but this filthy tangible currency is not going to cut it in 100 years. It would be a stretch to say 20,so I said 100 years just to be safe,considering I will be dead ;( sniff sniff,and when I am gone,remember me like tupac.

No one cares.

Ah yes, small typo completely changes the argument.
In that case IU agree with you

*inefficient