Topic: Will Bitcoin ever be more than a 'fringe' asset? - page 2. (Read 1529 times)

I am not American.

Don't let the romantic view of Bitcoin being the savior of a post Petro-Dollar collapse world taint your view.

Turmoil, upheaval and the massive shift of wealth from the west to the east is going to be tough for a lot of people. Bitcoin will do well to survive I think, let alone prosper.

Don't underestimate the power of those that control things behind the scenes, and don't doubt that they will fight tooth and nail to retain control at all costs.

That's because of the ENORMOUS resistance. You have to understand the incredible power money has over our lives. There are a lot of Very Important Assholes who have a serious vested interest in their local fiat scrip! What, did you think we the people could rob them of the power of money overnight? No. They will fight this tooth and nail, long and hard. All for naught, as there is no stopping it now. The genie is out of the bottle, the cats out of the bag, pandora's box has been opened, etc.

Every day it gets easier, safer, faster, and more secure. When making investment decisions, one should not look at the present-day situation, but study the trends. See where they go. Where do you think this is going? Study hard and think carefully, because the implications of the choices you make now could be very dramatic in the near future.

Some companies are already offering discounts for Bitcoin use. Bitcoin is cheaper for businesses of all kinds to use because it is a relatively "frictionless" currency. No middle-men taking there share, either - it's just the internet. The blockchain is a truly genius innovation. I'm not smart enough to invent something like that, but I'm damn sure smart enough to recognize it! If you do your homework here, look at the mathematics, read the whitepaper, I'm sure you are too.

Imagine for a moment you are not a typical American citizen, and instead have some actual savings in the bank. The US dollar loses 2-4% of its value year over year due to inflation. Consistently. Bitcoin rises year over year.

Why would you keep your wealth stored in a form of money that is burning away!?  Think on it.

Typical American thinking. The world is bigger than America, friend. There's a whole wide world out there, and Bitcoin is global, unlike the doomed dollar.

It's not nice to say, but the hard truth is that the currency of a military empire has literally a snowball's chance in hell of surviving in a future where war is obsolete.

And that is exactly what's coming, as we awaken to the reality of our oneness.

I have long thought positive thoughts when it comes to Bitcoin. In theory it's a really good thing.

A few recent events have started to shake my belief slightly, for the following reasons:

- Although there is more acceptance, there doesn't seem to be a growing 'mainstream' acceptance. It is still too difficult to use and way too difficult to understand for the vast majority of people.

- There's no incentive for buyers to use Bitcoin. Why spend one's fiat to buy Bitcoin to spend on a product when one could just spend the fiat directly? By buying Bitcoin to buy a product, one will likely be paying more in fees via companies such as Bitpay and losing out on any sort of 'buyer protection' offered by credit card companies.

- Too many clones and copies are diluting the market and causing even more confusion among 'ordinary' people that don't understand the difference.

- Talk of impending financial collapse in the US and the collapse of the dollar at first would appear positive for Bitcoin. When one takes into account the likelihood of civil unrest leading to martial law and the internet kill switch, suddenly a hoard of Bitcoins look less like the smart move.

- The expectation of massive growth in the price deters use of Bitcoins. I made the mistake of paying 2 Bitcoin for something a year ago to pay the equivalent of 30 Euro, if I had kept the 2 BTC I would have had closer to 1500 Euro.

- The only reason the authorities aren't taking it seriously is because it isn't big enough to do any real damage. Once it is, who can honestly say that the US/China/Russia won't shut Bitcoin down. Pah!! Shut Bitcoin down? That's impossible.....well, no, not really. If they impose enough of a penalty for dealing in Bitcoin, the majority of people won't touch it with a barge pole, and certainly any large investors won't come within 100 miles. The extreme end to this scenario is that they force ISPs to block P2P traffic. I don't know if or how that would work, but governments are NOT going to give up their power without a fight.

- Lastly Bitcoin itself has nothing special to offer when compared to all the other copies other than it was first, but, so was Myspace and where is it now, and where is Facebook?


Don't get me wrong I am not a Bitcoin hater, I hold Bitcoin myself and I do hope that I am wrong, but these doubts are (IMO) real and quite worrying for the long term.