Topic: Why bitcoin is in big trouble and is ultimately doomed! - page 9. (Read 13219 times)

Bitcoin is a commodity that is perfectly suited for use as money. It is thus a commodity and a currency, to the extent it is used as such. The best monies, historically, have been commodities also (gold, etc). They are not mutually exclusive traits.



How much do you want to bet?  I will bet you $2,000 that Bitcoins will be worth more than $5 in six months. Put up or shut up.

So...just a hypocrite then?

I can tell from your sig's ringing dis-endorsement.

I dont support litecoin either...

There has seem to be a big push all of a sudden for litecoin on the forum. 

It's either people hoping to pump and dump to exchange their LTC for BTC or people who are angry that they "can't print free money" any more because of the difficulty increases for BTC and just want the whole project to come crashing down.

OP is asking for donations while saying bitcoin is doomed.  Hypocrite.

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.