Topic: Why would people want to invest in 'Bitcoin'? - page 2. (Read 2841 times)
If it true, bitcoin would be long gone by now. And I'm just wondering why all the cryptos are still using btc as benchmark for price comparison. And the worst part which you mentioned is the logo. I would strongly disagree because I think btc has the best brandable logo and easy to remember name. None of the altcoins came logo to that.
It is slow (1 hour transactions).
What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.
there are some tricks for accepting 0 confirmations safe, even for bigger amounts(like connecting to several nodes to see if there is divergence among what they see)
Anyway buy a house or a car will take more than 1h even if you do instant transaction
everytime i read posts like this i pretty much become convinced that now is the time to buy..
Bitcoin is just completely different compared to all other currencies, commodities, stocks, etc. It's unique in its own way - don't get me started on altcoins. It fills many niches, like already mentioned, and will offer possibilities we can't imagine just now!
I suspect instances of fraud would be extremely rare in brick and mortar establishments. Most shops have cameras in place and many ask for ID on all transactions including credit cards.
Six months in jail is a steep penalty to pay for getting a free "double spend" coffee.
Six months in jail is a steep penalty to pay for getting a free "double spend" coffee.
Exactly where have you been shopping? 3 confirmations is still a lot.
name an exchange that takes less than 3
I wasn't talking about exchanges. I was talking about using Bitcoin as money (you know, buying stuff).
All my online purchases with Bitcoin have accepted unconfirmed transactions.
Try another question:
Why wouldn't people want to divest from the scamcoins that are inflation based violence-backed government debt tokens?
Answer:
Mass indoctrination
Why wouldn't people want to divest from the scamcoins that are inflation based violence-backed government debt tokens?
Answer:
Mass indoctrination
It's the most widely known representative of a decentralized currency that runs on distributed consensus. All the caveats you mention effectively don't matter. They could be changed if we needed to. Please provide solid arguments why they make Bitcoin a bad crypto coin!?
OP, if you're heavily Litecoin invested, I'd suggest you jump on a sharp sword instead, it'd be a swifter death.
Litecoin's own inventor is jumping ship pretty much:
No VC investment, no development, nobody really buying LTC...stick a fork in it!
And please don't mention one of those suckcoins like Paycoin, or NXT, or Ripple, or Pizzeria UNO, or Peercoin, or Maidsafe, or Stellar....Ain't nobody supporting or buying into those copycats!
Litecoin's own inventor is jumping ship pretty much:
No VC investment, no development, nobody really buying LTC...stick a fork in it!
And please don't mention one of those suckcoins like Paycoin, or NXT, or Ripple, or Pizzeria UNO, or Peercoin, or Maidsafe, or Stellar....Ain't nobody supporting or buying into those copycats!
well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market
Slowest coin of them all. It's a joke.
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market
Slowest coin of them all. It's a joke.
Exactly where have you been shopping? 3 confirmations is still a lot.
improved OP
--------
->
----------
Exactly where have you been shopping? 3 confirmations is still a lot.
name an exchange that takes less than 3
--------
@deine mudder
I'm guessing you're a Litecoin fanboy.
To each their own.
I'm guessing you're a Litecoin fanboy.
To each their own.
->
- ninjamine by small group without much public -> very bad distribution
----------
Exactly where have you been shopping? 3 confirmations is still a lot.
name an exchange that takes less than 3
well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market
Slowest coin of them all. It's a joke.
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market
Slowest coin of them all. It's a joke.
Exactly where have you been shopping? 3 confirmations is still a lot.
@deine mudder
I'm guessing you're a Litecoin fanboy.
To each their own.
I'm guessing you're a Litecoin fanboy.
To each their own.
It is slow (1 hour transactions).
What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.
well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market
Slowest coin of them all. It's a joke.
It is slow (1 hour transactions).
What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.
Yeah you are right that sucks.
But altcoin guys are bashing each other all day long.
Wasting their own time like Bitcoin is wasting energy.
Too much dishonest crap. Clean and fair coins don't fight other coins and aren't fought normally. Agree there. Needs more quality-stuff with longterm plan and fair launch.
Bitcoin is original and all the other cryptoos are simply cheap useless copies .
Not true at all, we are seeing some impressive start ups rising, especially recently. I agree that the majority are cheap ass copies, from 500 cryptos i would say like 1-2% have innovated further than bitcoin as an extra service layer benefiting crypto technology in general. Saying all the others cryptos are cheap useless copies is utterly retarded and more a statement from a desperate bitcoin bagholder.
+1
x-Still anonymous, decentralized peer to peer money
x-Multisignature transactions
x-Can be used for Remittances
x-Transfer money overseas quickly with low fees (fees aren't low much longer, more than 8$ for a transaction, they have never been low)
x-Still faster than the 2 or 3 days credit cards take to confirm a transaction (slowest cryptocoin of them all)
-NY Bitlicense current draft appears lenient towards regular Bitcoin holders
-More and more adoption: Dell, Overstock, Expedia, Newegg, Microsoft (they will welcome another more stable crypto too when it brings them business and has the cap)
-NYSE just invested in Coinbase contributing $75 million in funding (investement in cryptocurrency not directly into bitcoin, the coin)
-COIN ETF will launch this year (not sure)
-Winklevii look to legitimize Bitcoin based exchanges with Gemini, more transparency than foreign exchanges (an exchange as sellingpoint?)
-Paypal imminent Bitcoin payment option launch (not true, only experimenting in the US)
-Bitcoin mining difficulty and hash rate plateauing, causing massive farms to shutdown, making it a more even playing field (only because price sucks)
x-Immersion cooling upcoming standard for miners, lowering cooling costs of these farms, and lowering overall operational costs
x-Excellent alternative to the traditional banking system, especially for the unbanked in 3rd world countries that don't have access to it.
-Continuous mentions, exposure, and evangalism like what happened a couple of days ago at the Davos world economic summit (proud of hype?)
x-More and more Bitcoin ATMs sprouting up throughout the world
-Andreas Antonopolous releasing "Mastering Bitcoin" by O'Reilly press (so what?)
-Bitcoin is still only early beta stage, Year 6, version 0.9.3 of Bitcoin Core. We still have a long ways to go.
-Continuous VC investing, promising startups, hollywood taking notice, non profit organizations adding as donation options
-Xapo debit card, Purse.io, Gyft, Brawker, Open Bazaar, Lighthouse, Coinbase, Bitpay, Secondmarket, BitGo, Robocoin, Blockchain, BitWage, breadwallet, Ledger, Trezor, Lamassu and countless other Start ups and Bitcoin based companies sprouting up continuously
x-Multisignature transactions
x-Can be used for Remittances
x-Transfer money overseas quickly with low fees (fees aren't low much longer, more than 8$ for a transaction, they have never been low)
x-Still faster than the 2 or 3 days credit cards take to confirm a transaction (slowest cryptocoin of them all)
-NY Bitlicense current draft appears lenient towards regular Bitcoin holders
-More and more adoption: Dell, Overstock, Expedia, Newegg, Microsoft (they will welcome another more stable crypto too when it brings them business and has the cap)
-NYSE just invested in Coinbase contributing $75 million in funding (investement in cryptocurrency not directly into bitcoin, the coin)
-COIN ETF will launch this year (not sure)
-Winklevii look to legitimize Bitcoin based exchanges with Gemini, more transparency than foreign exchanges (an exchange as sellingpoint?)
-Paypal imminent Bitcoin payment option launch (not true, only experimenting in the US)
-Bitcoin mining difficulty and hash rate plateauing, causing massive farms to shutdown, making it a more even playing field (only because price sucks)
x-Immersion cooling upcoming standard for miners, lowering cooling costs of these farms, and lowering overall operational costs
x-Excellent alternative to the traditional banking system, especially for the unbanked in 3rd world countries that don't have access to it.
-Continuous mentions, exposure, and evangalism like what happened a couple of days ago at the Davos world economic summit (proud of hype?)
x-More and more Bitcoin ATMs sprouting up throughout the world
-Andreas Antonopolous releasing "Mastering Bitcoin" by O'Reilly press (so what?)
-Bitcoin is still only early beta stage, Year 6, version 0.9.3 of Bitcoin Core. We still have a long ways to go.
-Continuous VC investing, promising startups, hollywood taking notice, non profit organizations adding as donation options
-Xapo debit card, Purse.io, Gyft, Brawker, Open Bazaar, Lighthouse, Coinbase, Bitpay, Secondmarket, BitGo, Robocoin, Blockchain, BitWage, breadwallet, Ledger, Trezor, Lamassu and countless other Start ups and Bitcoin based companies sprouting up continuously
x=not exclusive bitcoin, but other crypto same points
-Still anonymous, decentralized peer to peer money
-Multisignature transactions
-Can be used for Remittances
-Transfer money overseas quickly with low fees
-Still faster than the 2 or 3 days credit cards take to confirm a transaction
-NY Bitlicense current draft appears lenient towards regular Bitcoin holders
-More and more adoption: Dell, Overstock, Expedia, Newegg, Microsoft
-NYSE just invested in Coinbase contributing $75 million in funding
-COIN ETF will launch this year
-Winklevii look to legitimize Bitcoin based exchanges with Gemini, more transparency than foreign exchanges
-Paypal imminent Bitcoin payment option launch
-Bitcoin mining difficulty and hash rate plateauing, causing massive farms to shutdown, making it a more even playing field
-Immersion cooling upcoming standard for miners, lowering cooling costs of these farms, and lowering overall operational costs
-Excellent alternative to the traditional banking system, especially for the unbanked in 3rd world countries that don't have access to it.
-Continuous mentions, exposure, and evangalism like what happened a couple of days ago at the Davos world economic summit
-More and more Bitcoin ATMs sprouting up throughout the world
-Andreas Antonopolous releasing "Mastering Bitcoin" by O'Reilly press
-Bitcoin is still only early beta stage, Year 6, version 0.9.3 of Bitcoin Core. We still have a long ways to go.
-Continuous VC investing, promising startups, hollywood taking notice, non profit organizations adding as donation options
-Xapo debit card, Purse.io, Gyft, Brawker, Open Bazaar, Lighthouse, Coinbase, Bitpay, Secondmarket, BitGo, Robocoin, Blockchain, BitWage, breadwallet, Ledger, Trezor, Lamassu and countless other Start ups and Bitcoin based companies sprouting up continuously
-Multisignature transactions
-Can be used for Remittances
-Transfer money overseas quickly with low fees
-Still faster than the 2 or 3 days credit cards take to confirm a transaction
-NY Bitlicense current draft appears lenient towards regular Bitcoin holders
-More and more adoption: Dell, Overstock, Expedia, Newegg, Microsoft
-NYSE just invested in Coinbase contributing $75 million in funding
-COIN ETF will launch this year
-Winklevii look to legitimize Bitcoin based exchanges with Gemini, more transparency than foreign exchanges
-Paypal imminent Bitcoin payment option launch
-Bitcoin mining difficulty and hash rate plateauing, causing massive farms to shutdown, making it a more even playing field
-Immersion cooling upcoming standard for miners, lowering cooling costs of these farms, and lowering overall operational costs
-Excellent alternative to the traditional banking system, especially for the unbanked in 3rd world countries that don't have access to it.
-Continuous mentions, exposure, and evangalism like what happened a couple of days ago at the Davos world economic summit
-More and more Bitcoin ATMs sprouting up throughout the world
-Andreas Antonopolous releasing "Mastering Bitcoin" by O'Reilly press
-Bitcoin is still only early beta stage, Year 6, version 0.9.3 of Bitcoin Core. We still have a long ways to go.
-Continuous VC investing, promising startups, hollywood taking notice, non profit organizations adding as donation options
-Xapo debit card, Purse.io, Gyft, Brawker, Open Bazaar, Lighthouse, Coinbase, Bitpay, Secondmarket, BitGo, Robocoin, Blockchain, BitWage, breadwallet, Ledger, Trezor, Lamassu and countless other Start ups and Bitcoin based companies sprouting up continuously
Bitcoin is original and all the other cryptoos are simply cheap useless copies .
Not true at all, we are seeing some impressive start ups rising, especially recently. I agree that the majority are cheap ass copies, from 500 cryptos i would say like 1-2% have innovated further than bitcoin as an extra service layer benefiting crypto technology in general. Saying all the other cryptos are cheap useless copies is utterly retarded and more a statement from a desperate bitcoin bagholder.
You got real points. But shitty brand? In my opinion quite the opposite. You can´t even talk with people in the real world about altcoins without starting the explanations with Bitcoin.
The rest looks true.
But one thing is very important. All altcoins are priced in BTC, and had to be exchanged through Bitcoin. Maybe the only killer feature left.
sure, it's a piece of history. When explaining crypto to someone you will always have to mention 'bitcoin' as the first of its kind.
That's my exact problem: i am forced to use it when i want to trade alts!!!! And its price negatively affects all the altcoins!!!! And the volatility too! It's not even good as basecurrency!!! Fiat is better!!! How sad is that?
Yeah you are right that sucks.
But altcoin guys are bashing each other all day long.
Wasting their own time like Bitcoin is wasting energy.
- ninjamine by small group without much public -> very bad distribution
Best distribution system ever developed
---------------because you were ninjamining too?
- huge satoshi wallet hanging like black cloud over the market
No one knows if Satoshi has any bitcoin, including you.
------------------ why should he not have them?
- 10 minute blocktimes - slowest transactions in crypto!
Compared to days or weeks like a credit card?
-----------no, compared to 15 minutes litecoin and 5 minutes other coins
- high inflation
Only supply and demand. Price inflation is just more demand
---------supply too high
- no fast difficulty retarget
So?
----------not completely safe from fatal failure
- market infested with shortsellers and heavy manipulated
Ah, like dollars then.
----------------------dollar is rising
- hype died off, promises broken (no exponential hype growth)
BTC does not need your hype
------------------but you and all bagholders hype it naturally. Don't say it ain't so.
- expensive transactionfees
Cheapest way to send money ever developed
----------------wrong, 1 standard fee bitcoin is more than 100 standard fees dogecoin and other alts. I send alts for fractions of cents
- shitty brand, shitty logo
Hmmm. that may be a dealbreaker
---------------lol
- already very expensive but unable to hold its value (less potential gains compared to smaller caps, a lot downside)
one could buy $0.0000001 worth of BTC. Expensive?
-----------------------high marketcap, don't play stupid
- extra volatile thanks to all the dumpfest from miners and the manipulation
Is what it is
- more and more centralised
No central authority whatsoever
----------only few nodes and number of nodes decrease, industrial mining
- a foundation nobody wants
Except for it's many paying members
---------------there's no consensus on it
- whoring for big money and loosing its original values rapidly
So it's alive now? and a whore?
- dev befriending three letter agencies
You mean the NRA?
- no real innovation, only innovative in the field of holding down competition
The most innovative monetary system in centuries
-------------maybe last decade
- completely hype-driven
I only use it for it's utility
-------------no, you speculate on it too of course
- bad reputation from early history (drugs, guns, childporn, darkweb ...)
Never bought those things?
------------why should i? You obviously did.
- inefficient with lots hashpower
Compared to what?
---------comapred to alts
- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)
source:
https://blockchain.info/charts/cost-per-transaction
I have never paid more than $0.04.
------------you're taxed indirectly with the new mined coins --- it's blockchain.info, dude. You're playing dumb a lot.
(Price of coin times new coins plus fees) devided by
'number transactions per day'
So why again would i put my money on 'Bitcoin' instead of a more advanced and modern crypto?
Fanboys? Any idea?
See red text
Best distribution system ever developed
---------------because you were ninjamining too?
- huge satoshi wallet hanging like black cloud over the market
No one knows if Satoshi has any bitcoin, including you.
------------------ why should he not have them?
- 10 minute blocktimes - slowest transactions in crypto!
Compared to days or weeks like a credit card?
-----------no, compared to 15 minutes litecoin and 5 minutes other coins
- high inflation
Only supply and demand. Price inflation is just more demand
---------supply too high
- no fast difficulty retarget
So?
----------not completely safe from fatal failure
- market infested with shortsellers and heavy manipulated
Ah, like dollars then.
----------------------dollar is rising
- hype died off, promises broken (no exponential hype growth)
BTC does not need your hype
------------------but you and all bagholders hype it naturally. Don't say it ain't so.
- expensive transactionfees
Cheapest way to send money ever developed
----------------wrong, 1 standard fee bitcoin is more than 100 standard fees dogecoin and other alts. I send alts for fractions of cents
- shitty brand, shitty logo
Hmmm. that may be a dealbreaker
---------------lol
- already very expensive but unable to hold its value (less potential gains compared to smaller caps, a lot downside)
one could buy $0.0000001 worth of BTC. Expensive?
-----------------------high marketcap, don't play stupid
- extra volatile thanks to all the dumpfest from miners and the manipulation
Is what it is
- more and more centralised
No central authority whatsoever
----------only few nodes and number of nodes decrease, industrial mining
- a foundation nobody wants
Except for it's many paying members
---------------there's no consensus on it
- whoring for big money and loosing its original values rapidly
So it's alive now? and a whore?
- dev befriending three letter agencies
You mean the NRA?
- no real innovation, only innovative in the field of holding down competition
The most innovative monetary system in centuries
-------------maybe last decade
- completely hype-driven
I only use it for it's utility
-------------no, you speculate on it too of course
- bad reputation from early history (drugs, guns, childporn, darkweb ...)
Never bought those things?
------------why should i? You obviously did.
- inefficient with lots hashpower
Compared to what?
---------comapred to alts
- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)
source:
https://blockchain.info/charts/cost-per-transaction
I have never paid more than $0.04.
------------you're taxed indirectly with the new mined coins --- it's blockchain.info, dude. You're playing dumb a lot.
(Price of coin times new coins plus fees) devided by
'number transactions per day'
So why again would i put my money on 'Bitcoin' instead of a more advanced and modern crypto?
Fanboys? Any idea?
See red text
Jump to: