Topic: Why Bitcoin is doomed to fail, and there's nothing you can do about it. - page 4. (Read 39330 times)

I think the devs have got better things to do that answer threads on here all day.

Where are the developers standing up for this and speaking up for this, maybe  missed there comments in the 16 damm pages of BAD ATTENTION, but come on DEVs stand up for your coin... I am sure you were prepared for some of this... SPeak up please! I supported this coin When I first heard about it in November 21st at $700 It reached $1400 and went as low at 400 and I an still invested in it,, I bought it big so I am one of those guys that should be scared , and I am abit, any anyone can give me slight comfort feel free , but i believe it it , Not as a world currency denomination as thats just ridiculous but its a "Virtual Currency" And thats as SIMPLE as that, of a physical Currency . Instead of 10,20,50,100 $ Notes we have digits 001100110 on a USB or computer or a Key on piece of paper if you really want it to be like a NOTE/bill whatever you call it in your country. ? or are the devs just as worried as the future you just as scared as the OP?


And when I mean "Devs stand up for it" I mean They should have some come back replies to show the improvements being implemented and shut the bad critics out if they don't, then you have people are left wondering and scared clueless people leave we need to assure the clueless public people to sell which will eventually just keep bitcoin between & 550-800 It would not get any higher unless we get support form OUTSIDE the community As you see I am all about Marketing and perception , Bitcoin is about perception and liquidity.

UMMMM Forgot what was going to say now DAMMIT but yeh I did not finish my first post so this is as much I can think off got now.

Use Multibit, Or Electrum.. Solved.

You do know even today's most advanced Antivirus software catches at best (!) some 95-96% of typical viruses, worms and trojans, but far less than 50% of specialized/uncommon malware and only works a minimum of 3-24 hours after these malicious pieces of software have been reported, analyzed and included into updated definitions in the first place ?
(and I'm not even talking zero-day exploits there, against there is extremely little protection, nor do I talk about non-updated/exploited browsers or plugins or backdoors etc.)

btw. the time between networked IT on internet and viruses/antivirus software was fairly small. Today we have antivirus products that evolved for over 2 decades designed for allways-online systems and they still don't offer any adequate protection to high-risk IT components whatsoever.
Additionally, the software today in the very best case merely tells you "oh crap, you're infected" or "virus detected & removed! (never mind the 20 other viral components downloaded and running undetected in the meantime) - plus the Antivirus software commonly isn't even able to clean a system anymore...
I won't even venture into that any AntiVirus software can easily be rooted & disabled without you ever knowing it.

Good luck risking your financial portofolio to some antivirus software that's nearly always late for the show, if you'll notice at all before it's too late.

That false sense of security and blind trust in future developments (nah, they'll fix that I'm suuuuure) is one of the greatest dangers to everyday IT - today!. Never mind that getting worse by a hundredfold in the described scenario...

PS.
When people warned about the risks of permanent network connections - they were laughed at as "conspiracy theorists". Now these "nuts" get paid 6 or 7-digit sums per year and are among the most highly sought resources in IT security... Go figure who was right in the first place, the sheeple learned their lessons (as usual) the hard way. Seems intense pain is the the only thing that kicks some form of learning curve into them - as usual.

Exactly the whole of the first paragraph has nothing to do with the positives of a decentralized currency... it just reads like a bunch of slave-talk... oooh be scared of the masters, did you see what they did to that last guy? ... ooh they gonna whip yo ass! Don't even bother trying to do different. Where are those slaves now? That'd be a pretty big win for the 99%... did you overlook that one?

Wake Up! There are people in this world fighting fiat currency and not hiding in the corner pointing fingers at the past.

Do you realise that there were still prisoners living in concentration camps long after the war was over and the guards had left? They kept each other inside with stories that the guards were probably hiding in the woods waiting to shoot them for trying to escape. Even after some prisoners had walked they still didn't believe.. but you can keep talking, we left years ago 

1. IT'S A DECENTRALIZED CURRENCY

The reason you give to Bitcoin Failing is the reason i give to bitcoins success!

lol

JED SAVE US!

I'm sure there will be another crypto to take on the role of bitcoin in the near future...

The technology is here and it's going to stay. There is nothing that can make crypto go away! 

You do know there was a time before antivirus software? People said the same about the internet.

Just a reminder from the viewpoint of IT security :

Can you imagine what kind of cybercrime potential will be awaken when (in theory) everyone's wallet (assuming global mass adoption) is more or less online for daily shopping purposes - and BTC would be priced @ lets say... 10000$ ?

Given the already dire security record of basically all established mainstream Operating Systems, lack of knowledge by their users and the knowledge that certain intelligence agencies have backdoor keys to most of these systems... Oh boy, that'd be quite a show to watch.
In theory, 1st assumtion (mass adoption and/or further increased BTC pricing) may come true within a few years.
2nd assumtion that would need to follow to prevent mass mayhem (massive increase in IT security and security awareness by every joe sixpack).... not very realistic IMHO.

Now that's something to watch out for. I don't even want to speculate how many zero day exploits would be rewritten to specifically target wallets. That'd take the term "cyberwar" to a whole new level.

TRUTH--> There is no volatility in fiat currencies... they all become worth-less over time 

The way I see it; the true value of bitcoin lies in its inherent use (what you can do with it) and its demand, which are linked... the more you can do with it; the more people use/need it; the more it's worth

Also, the more people adopt bitcoin, the more money gets fed into the system, thereby increasing the market cap and the value of each coin. Everyone thinks that something needs to be backed by physical value like gold or silver, but that's old-school thinking... times are changing... many are realising that it is actually energy that backs everything and it's how much energy is put in that determines the value... just think about that for a minute  and then how that relates to all the energy being put into bitcoin from all angles, not just the exchanges (I'm talking veture capitalists, startups, mining hardware etc.), that energy has to go somewhere and it is... there will be hiccups along the way, but the value has to increase, although it's still very early in the game IMHO.

I also think the volatility will decrease with more widespread adoption and a larger network, at the moment there are a lot of speculators and day traders and they have a very big effect on the rate due to the small market cap, not to mention those who got in on the promise of a quick profit and sell at the first sign of a downward slope, but in future, something like what's happening with Gox will be a small blip in the overall scheme of things, kinda like the forex counter at your local bank being out for lunch

Bitcoin is at the very beginning of it's rise to mainstream use. it's going to be volatile.  Merchants can just use services like bitpay which removes volatility risk for 1% with no minimum transaction size.  You can't expect a revolutionary innovation in currency thats only been ou a few years that has only a fraction of major fiat currencies to be just as stable.

There is going to be a few years of exponential growth and volatility, until trading volume is sufficient and market cap is large enough BTC at $10,000-$100,000.  Then volatility will be more akin to that of major fiat currencies, perhaps even less.

That's ok, if it is done often enough, that will even out and stabilize at a set value. the more people that are doing that, the more value bitcoin would have. They wouldn't all be fully precisely synchronized creating a perfect wave of value.

I see your point... But while it's great for them to be able to send money for free, I don't see how it will promote growth for the bitcoin. Hypothetical scenario: work in the U.S., earn $10, buy bitcoin, send to Kenyan family, family sell bitcoin to buy necessary goods. Becoming a vehicle currency won't help lessen the volatility of the bitcoin.

It's not about financial markets, it's about value transferral across borders and foreign exchange. They will generally lose a large percentage of their earnings through fees when transferring money through regular services like Western Union, but with bitcoin it's _almost free. They might not be rich or transferring loads of money, but 15% is a lot to lose when you earn $10 a day!

More old news: http://motherboard.vice.com/blog/one-third-of-kenyans-now-have-a-bitcoin-wallet

EDIT: P.S. that's why Gox is such a screw up... there's supposed to be one price so that if I change my Egyptian pound into bitcoin, send it to my wife in Kenya and she changes it into Kenyan dollars, there's no loss except for some exchange fees (but if you know Africa... they'll be doing that in person on the street corner).

Bitcoin has generally gained in value, and may be a bit volitile, but is extremely stable when compared with their currencies that experience hyperinflation, and are re-issued, and changed completely with each new warlord who takes over.

Bitcoins can also be sent back and forth between first world countries and back home in africa basically for free, allowing the one family member a family has working in America, or some European country to send money back to their families, without paying the huge fees they do now with existing money transfer methods.

Why would they like the btc more? BTC has proven to be just as unstable, and it would drastically limit their possibilities in terms of exporting goods, something their economy is extremely depended on.