Why would people want to invest in 'Bitcoin'? - page 3.

deine mudder

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Quote from: Momimaus on January 23, 2015, 03:21:45 PM

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?

RodeoX

legendary

Activity: 3066

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The revolution will be monetized!

Quote from: deine mudder on January 23, 2015, 02:40:56 PM

- ninjamine by small group without much public -> very bad distribution
Best distribution system ever developed
- huge satoshi wallet hanging like black cloud over the market
No one knows if Satoshi has any bitcoin, including you.
- 10 minute blocktimes - slowest transactions in crypto!
Compared to days or weeks like a credit card?
- high inflation
Only supply and demand. Price inflation is just more demand
- no fast difficulty retarget
So?
- market infested with shortsellers and heavy manipulated
Ah, like dollars then.
- hype died off, promises broken (no exponential hype growth)
BTC does not need your hype
- expensive transactionfees
Cheapest way to send money ever developed
- shitty brand, shitty logo
Hmmm. that may be a dealbreaker Roll Eyes

- already very expensive but unable to hold its value (less potential gains compared to smaller caps, a lot downside)
one could buy $0.0000001 worth of BTC. Expensive?
- extra volatile thanks to all the dumpfest from miners and the manipulation
Is what it is
- more and more centralised
No central authority whatsoever
- a foundation nobody wants
Except for it's many paying members
- whoring for big money and loosing its original values rapidly
So it's alive now? and a whore?
- dev befriending three letter agencies
You mean the NRA?
- no real innovation, only innovative in the field of holding down competition
The most innovative monetary system in centuries
- completely hype-driven
I only use it for it's utility
- bad reputation from early history (drugs, guns, childporn, darkweb ...)
Never bought those things?
- inefficient with lots hashpower
Compared to what?
- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)
source:
https://blockchain.info/charts/cost-per-transaction
I have never paid more than $0.04.

So why again would i put my money on 'Bitcoin' instead of a more advanced and modern crypto?
Fanboys? Any idea?
See red text

Momimaus

hero member

Activity: 767

Merit: 500

Never back down !!!

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.

deine mudder

newbie

Activity: 56

Merit: 0

Quote from: R2D221 on January 23, 2015, 03:12:45 PM

Quote from: deine mudder on January 23, 2015, 02:48:21 PM

2010 is half a decade ago. A blockchain isn't a 'innovation' in 2015

Gavincoin-fork and sidechains is no real innovation, just an attempt to fight off competition from alts. So "innovation" in Bitcoin is pseudo-innovation only to keep #1 spot. The real innovation happens in alts.

You need to judge innovation not by how old it is, but by how big the changes are related to what existed before this.

Quote from: Beliathon on January 23, 2015, 03:14:05 PM

Because it's not backed by violence or inflated by coercion, unlike national fiat currencies. It's an ethical perspective, for me personally.

sure, but this isn't limited to 'Bitcoin' - same is true for all decent cryptocoins

Quote from: redsn0w on January 23, 2015, 03:16:26 PM

Because you are "free" when you are using bitcoin , and obviously (also because) you don't pay the expensive fees

I don't feel free when using Bitcoin. I feel forced to use it because it is preached here there wouldn't be a choice. It is slow (1 hour transactions). The bearmarket is long and sellpressure high.
I have higher standards for freedom - those include true choice, bitcoin isn't that choice i have - it's the standard solution for noobs. I'm totally annoyed by it.

The fundamentals are bad. It isn't sustainable without huge money burning away.

redsn0w

legendary

Activity: 1778

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#Free market

Because you are "free" when you are using bitcoin , and obviously (also because) you don't pay the expensive fees

.

Beliathon

hero member

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https://youtu.be/PZm8TTLR2NU

Because it's not backed by violence or inflated by coercion, unlike national fiat currencies. It's an ethical perspective, for me personally.

R2D221

hero member

Activity: 658

Merit: 500

Quote from: deine mudder on January 23, 2015, 02:48:21 PM

2010 is half a decade ago. A blockchain isn't a 'innovation' in 2015

Gavincoin-fork and sidechains is no real innovation, just an attempt to fight off competition from alts. So "innovation" in Bitcoin is pseudo-innovation only to keep #1 spot. The real innovation happens in alts.

You need to judge innovation not by how old it is, but by how big the changes are related to what existed before this.

deine mudder

newbie

Activity: 56

Merit: 0

Quote from: LiteCoinGuy on January 23, 2015, 03:05:11 PM

du hast einige falsche annahmen in der aufzählung.

schau dir noch einiges zu bitcoin mit einem offenen geist und du wirst zumindest einen großteil deiner kritik ändern

I'm well informed, no worries.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

du hast einige falsche annahmen in der aufzählung.

schau dir noch einiges zu bitcoin mit einem offenen geist und du wirst zumindest einen großteil deiner kritik ändern

deine mudder

newbie

Activity: 56

Merit: 0

Quote from: yakuza699 on January 23, 2015, 02:53:01 PM

Quote from: elephantas1 on January 23, 2015, 02:46:26 PM

Quote

- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)

uhmm wasnt it falling all the time? at least thats what i see from your posted link

The BTC price and the cost of the transactions decreases but only in terms of USD.

they increase as soon the price rises, 8$+ is insane (and that's a low)

"only in terms of USD" hahaha

yakuza699

hero member

Activity: 935

Merit: 1002

Quote from: elephantas1 on January 23, 2015, 02:46:26 PM

Quote

- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)

uhmm wasnt it falling all the time? at least thats what i see from your posted link

The BTC price and the cost of the transactions decreases but only in terms of USD.

deine mudder

newbie

Activity: 56

Merit: 0

Quote from: R2D221 on January 23, 2015, 02:46:01 PM

Quote from: deine mudder on January 23, 2015, 02:40:56 PM

- no real innovation

I'm concerned with this one. Why do you say Bitcoin has no real innovation? What existed before Bitcoin that worked similar to it? With the blockchain and everything.

A blockchain have other cryptos too. 2010 is half a decade ago. A blockchain isn't a 'innovation' in 2015

Gavincoin-fork and sidechains is no real innovation, just an attempt to fight off competition from alts. So "innovation" in Bitcoin is pseudo-innovation only to keep #1 spot. The real innovation happens in alts.

Quote from: Madness on January 23, 2015, 02:46:32 PM

Bitcoin is original and all the other cryptoos are simply cheap useless copies .
Most of what you just said isnt true at all , btw . What high gtransaction fees are we talking about here ? And usd is used on illegal things more then bitcoin Roll Eyes

but noone says anything,do they?

standard reply, no actual content, typical bitcoin-propaganda of "all other coins are shit, bitcoin is the only real coin" (old and untrue)
I have been reading these lines about 1000 times

Madness

hero member

Activity: 644

Merit: 500

My goal is becaming a billionaire.

Bitcoin is original and all the other cryptoos are simply cheap useless copies .
Most of what you just said isnt true at all , btw . What high gtransaction fees are we talking about here ? And usd is used on illegal things more then bitcoin Roll Eyes

but noone says anything,do they?

elephantas1

sr. member

Activity: 378

Merit: 250

Quote

- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)

uhmm wasnt it falling all the time? at least thats what i see from your posted link

R2D221

hero member

Activity: 658

Merit: 500

Quote from: deine mudder on January 23, 2015, 02:40:56 PM

- no real innovation

I'm concerned with this one. Why do you say Bitcoin has no real innovation? What existed before Bitcoin that worked similar to it? With the blockchain and everything.

deine mudder

newbie

Activity: 56

Merit: 0

- ninjamine by small group without much public -> very bad distribution
- huge satoshi wallet hanging like black cloud over the market
- 10 minute blocktimes - slowest transactions in crypto!
- high inflation
- no fast difficulty retarget
- market infested with shortsellers and heavy manipulated
- hype died off, promises broken (no exponential hype growth)
- expensive transactionfees
- shitty brand, shitty logo
- already very expensive but unable to hold its value (less potential gains compared to smaller caps, a lot downside)
- extra volatile thanks to all the dumpfest from miners and the manipulation
- more and more centralised
- a foundation nobody wants
- whoring for big money and loosing its original ethical values rapidly
- dev befriending three letter agencies
- no real innovation, only innovative in the field of holding down competition
- completely hype-driven
- bad reputation from early history (drugs, guns, childporn, darkweb ...)
- inefficient with lots hashpower
- huge blockchain uses a lot of HD
- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)
source:
https://blockchain.info/charts/cost-per-transaction

So why again would i put my money on 'Bitcoin' instead of a more advanced and modern crypto?
Fanboys? Any idea?

Topic: Why would people want to invest in 'Bitcoin'? - page 3. (Read 2841 times)