Topic: Why Bitcoin is doomed to fail, and there's nothing you can do about it. - page 10. (Read 39330 times)

That's the one type of statement that worries me the most...

People talk about believers...
But when it comes to money, believes are truly the most irrational, risky, dangerous and fail-prone incentives a human could possibly dig up in his motives.

It's knowledge that counts and only that. Unknown/future factors shall never be replaced with believes - they shall be estimated with calculations, realistic approximation, available empirical data and a resulting probability that at least passes a common-sense test and is free of emotions or hopes (greed/fear/get-rich-quick-symptoms).

I know it takes some believes to create visions of a brighter future.
But that bulldozer with the steel blade labeled reality all but too quickly does a cleanup of these visions if not firmly anchored to realistic expectations.

Seeing how difficult it is now to just either buy or sell BTC for reasonable prices and with reasonable trust plus the wild speculation-driven price fluctuations alone are telling me BTC right now is clearly a hardly seaworthy fishing boat battling the open sea in stormy weather. And I know this type of sea actually does have monsters that are up to no good.
BTC is a shark tank, operating it is like playing minesweeper - if you calculate hard & correct and keep your eyes wide open your chances of survival drastically improve (if you are skilled with LOTS of common sense to circumvent the mines you cannot directly calculate) - but in the end you're still crawling around in a minefield. And every single failure costs you money, every time.

As it stands now, BTC (IMHO) would be better off staying below the radar as good as it can. Its success could otherwise be its own demise, in its present infrastructure it's just an easy target for goverments and central banks who own them. For now they just don't seem to see it as a threat and avoid wasting ammunition (which if BTC survived would give it a boost in credibility).
I agree that BTC could technically survive law & regulation but realistically wouldn't be able to survive the high price-tag of a black market only currency.

He can't even be bothered to spell-check.

I was thinking the same, i guess he bought the account ... LOL

  The point is that homosexuals exist whether or not they are banned, so will bitcoin. You might not read about it and the activity may be hidden but it exists. Maybe the price will be lower, maybe higher but even if banned by .gov, really all it has to do is be able to solve problems for a segment of the population in order to win. It does that and it has been doing that for some time now. The price is starting to reflect the fact that it is a solid protocol foundation for other layers to be built upon to create the best value transfer system man has seen yet (open source, peer to peer distributed network, adaptable, and antifragile.  The bitcoin network is not just computers, it is people. These people are also a decentralized network of thinkers, coders, economists, entrepreneurs, hackers, speculators, etc. who have given Bitcoin (and bitcoin) a serious look and decided to join in. Many have dedicated their entire lives to this project. Don't tell me that doesn't have power.

  I've been an early part of many trends in my life from music to mixed martial arts. I know a trend when I see it now. Bitcoin is gaining critical mass because it has the kind of hardcore supporters, and the technical veracity that are so necessary for mass adoption of anything really positive. Some of you rednecks can go ahead and shit on it all you want . It really won't hurt me at all as my choices will be the same to support this idea. The detractors here are rank newbs. You should have been around during the long, slow slide from $31.66 to $2.00 to see some real "something awful" type trolling. Government may be powerful but it can't really force everyone to comply with all of it's rules and making things illegal does not make them go away. So far, bitcoin's been kicking fiat (and gold's) ass. C'est la vie.

edit- http://www.youtube.com/watch?v=Xbp6umQT58A    http://www.youtube.com/watch?v=3s3T9opvPHI

Oh sure it does have practical value for some, I agree . But not to the point of what many people wish for as a universal cunnercy or even an alternative currency . It is fairly easy to make bitcoin unattractive for the majority of people.

Don't mind him typical fanboy behavior. Why don't you read about  homosexuals in communist countries? How well they did! The most homosexuals in recent history have existed now without persecution.

Seriously, what goes on in your mind to think persecution = good lmao I give up on the bitcoin community, another reason bitcoin is going to go nowhere it's filled with people who don't even have simple logical capacities.

OMG, this is to misinformed and SO SO SO WRONG... If these govs ban using bitcoin, no normal merchant will accept it (besides some underground ones) and if noone normal accept it, and its quite clear that noone will accept in in the future, the price will CRASH.

yes they can certainly ban bitcoins, and just like banning homosexuality wont stop homosexuality, so too will banning bitcoins not eliminate the use of bitcoins. In fact quite the opposite effect will occur i suspect.

bitcoin is antifragile, it isn't just resistant to attack, it benefits from it. Bitcoin is far from doomed. It is winning.

https://www.youtube.com/watch?v=IaQQ_47OfIM

First you complain no one responds to your reasoning. Then for all those responses to your concerns, what did you do? Closing your eyes. For example, why do you keep silent on this simple question: where did you get that ridiculous block chain size?

All I have to do is unplug you! What Internet  ever heard of outage...it happens!

Bitcoin already has practical value.  It does not yet have universal practical value.

For many people, Bitcoin is the best option to transfer wealth from one jurisdiction to another.

In many environments, inflation and government controls steadily rob people of their earned wealth.

Bitcoin is not yet valuable to everyone, but it has become extremely useful to some.

And it has even greater potential value.

Bravo, unfortunately many do close their eyes. They will have much greater worries than Bitcoin.

For bitcoin to succeed it needs to attain practical value.

You should never use bitcoin to store your wealth. You can speculate on it but dont use it for savings.

Even if you think it will increease in the value the reason you shouldnt save in it is simple.

Money is not a commodity. In an economy what is traded are goods and services not currencies.

If people were to trade silver gold and cryptos they would starve to death. Nobody would know how to build or house or assemble a car.

Money is a utility to facilitate trading, to make it easy and quick.

For bitcoin to be money it needs to have the same practical value that fiat has. As long as the world functions on fiat this is going to be super difficult because there is going to be so much cost incurred by exchanging btc to fiat

everytime you transact that I think it wont have  an edge over fiat Especially with government obstacles in place.

I love bitcoin and the network but I dont close my eyes for the obvious obsticles it faces.