Topic: You heard it hear 1st - page 3. (Read 14516 times)

this post got deleted as its own topic, but i did spend quite a bit of time creating it, so I will post it here i guess:

As long as you can't buy crack cocain and xtc by the barrel internationally with moneyoder/debitcard/creditcard without getting caught, bitcoin has unprecedented potential.

Sure, bitcoin could fall hard to double digits. Your conjecture is as good as anyone else's, but I personally don't find such low figures very likely. In my un-mathemagical estimation, I place the bottom somewhere around $250. I'm not predicting it will go that low, but that is the lowest I believe it would. Despite some here "knowing" that bitcoin is bust, only time will tell and prove one arbitrary guess more accurate than another. Your reasoning, however, is what I find more interesting...


Since when does wall street wear their hearts on their sleeves? They show you what they want you to see. Personally, I'm more likely to take wall street's claimed positions and favor the diametric perspective.


And these things make me feel even better about bitcoin. Average joe and the smart ass on the street have historically never been good indicators of innovative potential or financial success options. You're referring to people that are remarkably behind the curve in such an extreme way, that by the time they finally do come around to understanding and practicing within a given paradigm shift, the opportunity for financial investment in the catalyst is long over. All those shouting bitcoin is already mainstream, don't understand what the hell they are saying -not even close.


Institutions invested. Yes. Speculators looking for a quick buck. Definitely. Cultists with blinders hoping for unrealistic realities. Of course. Opportunists. Manipulators. Leaders. Lemmings. Look at any technologically innovative point in time in which the human species has created something they haven't seen before, and you'll find the exact same people at the party.


And that is all that's needed to change the world.

Yep, and you get these conglomerate fascist corps that rise up from someones bedroom like coinbase / mtgox ... and they just start robbing people however they like and when the smoke clears they walk away with a countless people's lunch money.

Not to mention it offers ABSOLUTELY NO BUYER PROTECTION.  I think you're spot on, 99.9% of people would get scammed, lose private keys, send coins to the wrong address, etc the first time they tried to use btc.  I've seen experienced users do it with a bad copy and paste.  Then they are never going to want to touch it again.

Not to mention look at how the average person buys stuff, impulsively w/ a credit card.

With btc, you have to go through a ridiculous process to buy it ahead of time, then still go buy something with it, and the most legit place I've found (coinbase) you still have to wait 4 business days to see the coins, and just hope the exchange rate doesn't drop on you.

Anyway I agree with your points, and have seen some really good posts by you in the past.  thanks for your insight.

If Bitcoin is needed and it is and if Bitcoin is stable and strong it is, if there is hate against fiat currencies and there will be; Bitcoin has every chance to succeed

It started getting over sold LONG LONG ago....  Now that we see some very decent adoption, it's getting exposed for what it is: an alternate currency that is an absolute hassle to use and a nightmare to get set up.

For newbs (I don't think you guys understand how computer illiterate the rest of the population is), make one mistake and your life savings could go down the drain.... not a great currency TBH.

BBBBBAAAAAM

Agreed 100%.

Looks like you were right.  You've got some good insight here.  Too many people on here have blind optimism w/o any explanation or evidence whatsoever.

No..its not exactly the same..thats obvious..but it can be practically the same in many instances.

eg... They want to buy an air/bus ticket online to avail of the promo (up to 60% discount only available for online purchases)  they go to an internet cafe and book the ticket....so by having access via an internet cafe or a friends internet connection they achieve their goal of buying the ticket at the discounted rate ( goods/service whatever) on line that is not owned by them.

ditto for sending receiving money via sms..u generally need the code which is sent via sms and a valid ID to pick up the money.  It is therefore doable if you can borrow a cellphone.

KNowing someone who was is not the same if you have you own

There are enough and the numbers are growing fast. The poorest of the poor do not yet have their own but they will most probably know someone who has and have the opportunity to use that until they can get their own. Why would they? E commerce and remittance via sms saves money.

http://www.dazeinfo.com/2014/07/11/mobile-internet-india-2014-349-million-unique-mobile-phone-users-70-traffic-mobile-india-shining-infographic/

http://www.dazeinfo.com/2014/06/22/smartphone-apac-market-forecast-2014-2018-india-china-australia-japan-growth/


http://www.statista.com/statistics/257048/smartphone-user-penetration-in-india/

So are yout thinking poor people could have internet in their homes? have pc or laptop or even phones? You think the slums of India have internet?

yes............  very much so
....
Billions of people on the planet have no access to bank accounts and, frankly, the banking system has shown no interest in them.

Already, mobile phone technology has moved in to fill the gap – by creating a whole new payment system that allows people to move money by text. The M-Pesa system in Kenya is the most developed example. In that country, 12 million people use a text message system developed by Vodafone to make transfers - that's more than a quarter of the population.

http://www.channel4.com/news/bitcoin-bank-of-england-super-rich-excluded-poor-internet-currency

http://cryptocrimson.com/2014/06/bitcoin-leveraged-bitpesa-makes-official-debut-kenya/

Can bitcoin be used by poor people? Mobile phones are used by the poor nowadays.

Adam scammer! Give me money!

Oh calm down silly sausage. Just because the huge preponderance of obvious trolling threads and a few accounts of ONE single person have been silenced. What a difference it makes, too - harmony and ill feeling has left the forum in one fell swoop to reveal the true feeling of the forum.

Reasonable debate is to be welcomed always.

Your contribution so far is to suggest there is a 70% chance of  fall to 50-100 dollars from 475 dollars citing no evidence whatsoever. Good luck with your short.

If his identity is uncovered and he's holding BTC1200000 there will be enough motive to get him killed....
So Bitcoin is more like Segway than you think.

No, I heard the guy that invented Segway was killed after falling off a cliff when riding one. Bitcoin probably won't kill Satoshi.