Topic: Why Bitcoin is doomed to fail, and there's nothing you can do about it. - page 18. (Read 39330 times)

I am not wrong at all.  OP is scared that bitcoin will fail because people in power don't like change.  My examples are ALL of huge changes that have indeed happened.  Changes in currency will eventually ahppen whether people like it or not.

Nope.

He is completely wrong.

Comparing apples with oranges is not an appropriate argument.

+1 bro, very correct.

How?


Your are doing a contradictory statement. People which bought BTC at the early years did not have a bigger risk when compared with the people buying today. That people had to spend less capital to buy BTC and the risk to loose the amount invested was lower than today.


How?

This thread is a tribute to all the haters in modern history:

1.  The car is a fad.  Horses will never stop seeing use.
2.  Telephone?  that's a child's toy, it'll never become mainstreem.
3.  Television?  People will get tired of staring at a little box in their house.

Could go on forever.

Oh, I understand your implication. I agree with you that those currently in power will stop at nothing to so remain.

Now explain to me _how_ they will destroy bitcoin.

I think a lot of people are passionate about bitcoin for ideological reasons.  We feel that it will make the world a better place for us and our children.  

The excellent side benefit is that by supporting the bitcoin system, you can also make money.  This is actually quite important because it empowers early adopters (who are so inclined) to take risks and shift their careers to focus on bitcoin development.  It is a really amazing process if you think about it: instead of raising cash through angel investors of VCs, the market "rewards" early adopters with the funds necessary to advance the very technology they are passionate about!

Yes, early adopters who hold their coins have done well, and will possibly do very well in the future.  I don't think this is any less ethical than early innovators in technology companies making big money.  People who committed their time and capital early in the game risked more, and they deserve to benefit more.  

Lastly, bitcoin already is benefitting people in the 99% (most of us here)--it will continue to benefit the 99%: even those who don't adopt it till the very end.  Bitcoin has the potential to cut-out so many middle men and friction from our economy.  In a world where bitcoin becomes a global currency, people's paycheques would go a lot further due to these efficiency improvements.  

For the record: I am envious of early adopters too.  My mom sent me a write-up on bitcoin in 2009 and said she wouldn't mind "buying a hundred bucks of it, just in case."  I didn't even *read* the article!  I immediately wrote it off as some stupid idea that would never work.  If I had just read for 10 minutes to understand the mining process, the public-private key encryption, and what bitcoin actually is, I would be able to work full-time on it now.

P.S.: I didn't write up arguments against your posting because I just spent an hour writing up arguments against your and other peoples' postings in the zero-confirmations thread (https://bitcointalksearch.org/topic/m.3980937).  Your critiques in this thread have been argued against in this forum for years and I felt it was less important that I address them.  Instead, I hoped to show lurkers on this forum that a common trait among posters who seem over-zealously negative about bitcoin is that they sold their coins.

If you can't understand point #1 you shouldn't even be in this thread lol, no offense, but if your serious, I don't know what to tell you.

Point #1 is the 1% will not give up their power and control to the 99% how hard is that to understand?

The guy is pulling at strings.  While this essay of his sure has an impressive word count, if he was to turn it into my literature class back in high school, he'd get a B- at best, for effort.

I can't even tell what point #1 _is_. Perhaps you might explain how the fact that 'big guys willing to use violence to stay in power' leads directly to 'bitcoin is doomed to fail'.

Peter I see that you cannot make any arguments against the posting, so you do the typical I can't argue with what you said, so I will attack your character.

It's the typical Bitcoiner elitist complex. There's still time for you to come back to the rest of the 99% which I thought the movement Bitcoin was about, I guess it's still the same scum 1%

Yes, but realise, the more coins he buys, the more they will cost.  I dont think anyone would have enough money to buy them all.  Every other coin would cost more and more.  Maybe though, after long periods of buying/selling, he'd eventually get them all.  But there would still remain 2-3 bitcoins out there.  And those could always be segregated in many pieces.  Their price would skyrocket.

They can't currently do that as all the coins have never been made yet, but if someone theoretically did that then yes they would all be destroyed.

JohnyBigs (original poster), I understand that you've been involved with bitcoin for a long time, and perhaps you are upset by selling your coins too early.  But don't you see: you can still be an early adopter.  And with your experience, you probably have a lot to offer to help us advance this game-changing technology.  

Bitcoin gives everyone a second chance.  

Actually I was wondering, what if some beneficiary of current system buys all BTC and destroys his hard drive? Wouldn't it mean that BTC is lost?

I am not quite sure, but I believe OP is one of the people that sold his BTC at 50, and has been fuming ever since.  Bitcoin will not fail, just as rare (unique) items in video games don't fail.  Look at runescape economy, partyhats (worthless, no intrinsic value) are over 1kUSD each.  Why?  Because they can't be produced.

Yeah some Bored games.

refer Stefan to:

Bitcoin users in 5 years: 3 Million

Should I play some Board Games?

Go debate Stefan Molyneux about this... He'll destroy you