Why btc will die - page 2. | Bitcointalksearch.org

krodmandoon

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Quote from: johnyj on September 24, 2014, 06:47:06 PM

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

-- Value is decided by supply and demand together

Quote

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

-- for majority of non-IT people it is true, some kind of learning is needed

Quote

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

-- Gov. have monopole in domestic money supply, but since bitcoin's value is very volatile and long term deflative, it will not affect monetary policy of a country, but mostly used as an anti-inflation saving medium

Quote

4, Btc system is unsafe too, 51% attack will destroy it

-- Safety is only a relative term, 51% attack won't affect your bitcoin holdings, only transactions temporarily

Quote

5, people does not need bitcoin, they can use dollars as well

-- People need some saving medium that can hedge the risk of inflation, anything that can be unlimited produced (house or gold) do not qualify as such a medium

i would let it ride but cannot. supply of gold is finite. it is one of those elements created during a super nova.

johnyj

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Beyond Imagination

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

-- Value is decided by supply and demand together

Quote

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

-- for majority of non-IT people it is true, some kind of learning is needed

Quote

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

-- Gov. have monopole in domestic money supply, but since bitcoin's value is very volatile and long term deflative, it will not affect monetary policy of a country, but mostly used as an anti-inflation saving medium

Quote

4, Btc system is unsafe too, 51% attack will destroy it

-- Safety is only a relative term, 51% attack won't affect your bitcoin holdings, only transactions temporarily

Quote

5, people does not need bitcoin, they can use dollars as well

-- People need some saving medium that can hedge the risk of inflation, anything that can be unlimited produced (house or gold) do not qualify as such a medium

Schwarzalbert

newbie

Activity: 51

Merit: 0

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

Ohhhh, yeeess! I like it when a total newbie try to philosophize about the sure death of bit coin. No further answers needed! Grin

RodeoX

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The revolution will be monetized!

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like shinny rocks and fancy paper.

2, People are unsafe and easily be stolen. If someone buy some coins for invest, they may lose it or it may get stolen.

3,Gov can't ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use dollars to fund terrorism activities.

4, Fiat system is unsafe too, many kinds of attack will destroy it.

5, people need bitcoin, many people can't use dollars as well.

So I think btc can't soon die.

I edited it for you. Wink

professionalboatmisser

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Quote from: adam48 on September 24, 2014, 12:27:52 PM

I hope to live long bitcoin is still at least 1-5 years in the future after I collect 1000 bitcoin and I sell haha: D

How many do you own already? 1000 is a shit ton. What will you sell them for? USD? what if USD has crashed?

rajaukauka

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its absolutely paranoid statement , bro

Supercrypt

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another newbie deciding here future of bitcoin

just bcoz he missed bitcoin train Cheesy

adam48

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I hope to live long bitcoin is still at least 1-5 years in the future after I collect 1000 bitcoin and I sell haha: D

arxwn

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Quote from: thejaytiesto on September 24, 2014, 11:16:09 AM

My fear is that people realize cold storage is pretty much the only safe way to keep your coins SAFE, so as a natural result if people cares enough to go and buy some BTC, what would happen is they would not spend them, just hoard them, just like no one buys groceries with Gold. In this sense, BTC would never be a currency. Having BTC in your money is a big risk. Going to a vacation and leaving your computer there (your cold storage) is a big risk. Carrying around an USB with your entire life savings is a big risk..

Lending the money to a bank with minimum guarantees that they use to buy bond from governements that pay back on the own shit currency or gamble it in the stock market is perfectly logical and risk free.

franky1

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bitcoin wont die. you cant kill the blockchain. governments can try to stop exchanges, bt those are just businesses.. not bitcoin.

once people realise that bitcoin is not a business and that they should not be reliant on businesses, they will see why bitcoin is so different compared to bank notes or credit cards.

thejaytiesto

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My fear is that people realize cold storage is pretty much the only safe way to keep your coins SAFE, so as a natural result if people cares enough to go and buy some BTC, what would happen is they would not spend them, just hoard them, just like no one buys groceries with Gold. In this sense, BTC would never be a currency. Having BTC in your money is a big risk. Going to a vacation and leaving your computer there (your cold storage) is a big risk. Carrying around an USB with your entire life savings is a big risk..

ChuckBuck

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better everyday ♥

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

Why Bitcoin will live:

1)Bitcoin has a value as long people buy and sell goods and services with it, companies integrate and adopt it, and exchanges still transact it

2)Bitcoin can be safe, secure, and not easily hacked if you transfer to offline, cold wallets, create backups of your wallet.dat or paper ones, and buy from trusted, secure exchanges like Coinbase.

3)Government has no reason to ban it, in fact, they're in the process of trying to find ways to regulate it. People buy illegal goods and drugs with fiat numbering in the billions every day. Terrorists use any sort of currency they get their hands on to fund terrorism.

4)BTC system can be secured and 51% attack avoided if more nodes are present processing transactions, and the large mines are not pointing to the larger mining pools, but rather p2pools or solo mining.

5)People want options, not everyone has a banking or checking account, or can afford Western Union fees for remittance. People in Greece, Argentina, Asia, Africa could use something better than the currencies that their floundering economies and governments are forcing upon its people.

Beliathon

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https://youtu.be/PZm8TTLR2NU

Atheose0

newbie

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Although almost all of your points are valid, but I didn't think BTC will die in near future. Because day by day it's popularity is increasing.

homerjj

newbie

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I don't think so, i have a great belief in the market adoption in Bitcoin, just look at the news for today from Paypal, this is another huge step for Bitcoin.

Lets keep the belief!

naztykoyn

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Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

You are correct.. Government will interfere and then bitcoin will have a good fight but then it will stop and bitcoin will die.

arxwn

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Quote from: asdlolciterquit on September 11, 2014, 11:27:53 AM

Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

so funny.

you have just joined this forum only to talk bad about bitcoin?

have you really tought about what you have wrote??

Btc has no value....like a piace of paper with a face and and this ($) simbol has real value :asd:

And an army behind it ... never forget the army

arxwn

newbie

Activity: 56

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Price goes down BTC is gonna die , price goes up BTC is gonna be the new gold standard.
People stop acting like children, some lost the bus, some got lucky, there is no need for vitriol.

Diatoms

newbie

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if you keep your bitcoins securely you won't lose them

robstark

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Quote from: bitcoinwilldie on September 11, 2014, 05:42:35 AM

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

1. bitcoin has its value cause we can use it to buy computer

2. bank will be robbed. bitcoin is decentralized and it is quitely safe.

3. that is the point but noe mean btc will die.

4. no one will take several million just for 51% attack.

5. ppl do need it cause we need develop.

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