Bitcoin Forum

The interest in Bitcoin is stagnant from exactly one year!
Just do a google trend research...
What would you think it is needend to comeback interest on Bitcoin???

Obviously an increase in the value but what else?

https://i.imgur.com/2RGPXNA.jpg

It is because most of bitcoin users are a dreamers who only wait for price to go 'to the moon' by itself. That is why we have only weak and inept business invigoration attempts which changes nothing really and our community reacts with panic after every little problem emerges.

Bitcoin was in the news, and on the radio a lot. That's why people were searching it.

I would put my money on Wall Street. The moment any of these investment funds starts operating and BTC start being traded on Nasdaq, you ll see interest going up big time.

Besides that, I see no other major event in immediate future.

i think this is just a part of bitcoin users..
i'm sure there are a lot of people who fight to decentralize world banks power.
i'm one of this kind of users :-)

then we can discuss about Bitcoin foundation bankrupt, who have spent a lot of money last years without introduce really innovation in bitcoin...

Interest in bitcoin has grown for the past year. We cannot judge the interest in bitcoin by its price.

I was reading a review yesterday about bitcoin's "performance" last month:
https://bitcointalk.org/index.php?topic=1011563
(Looking Back On March: A Month In Review)

There are encouraging news all around the world and they get brushed aside because price hasn't risen. I truly believe bitcoin could be successful at any price level, $200 or $800, as long as price is stable.

Bitcoin is extremely undervalued right now. One of the reasons might be that the reputation of Bitcoin is tarnished beyond repair, due to various scandals such as Mt Gox, Silk Road,  Silk Road 2.0, Sheep Marketplace.etc. Another reason might be an oversupply of coins. This might be caused by some thieves dumping huge amount of coins (can be the Mt Gox thief, or the SMP thief).

waiting for Winklevoss sons ETF
but maybe are just a lot of words...
only smoke without fire.

He isn't judging interest by price. He is judging by how many people search for it on Google.

Bitcoin has two major issues to overcome. The first is the fraud. People have lost their life savings to places like BTC trader and PB mining et al. All of the ponzi schemes and outright thefts scare people away faster than any media spun story about Isis or child pornography being related to bit coin.

Secondly, we have utterly failed to educate the public on the advantages of bitcoin. We talk about bitcoin technology and how it is the "internet of money" but as a day to day thing people know very little about it and even less about how to actually use it. I place blame primarily on the bitcoin foundation for that. They are supposed to be our voice to the world but all they seem to do is enrich themselves and allow corrupt individuals to create some token credibility by selling them memberships.  

You are 100% correct. See what happened with the Mt Gox robbery. Some $500 million worth of coins and tens of millions of USD in cash were stolen. Tens of thousands of people lost their life savings, including some of the earliest adapters of Bitcoin. And the person who perpetrated that robbery is still living his life lavishly in 5-star hotels and casinos.

you get it Enjorlas.
i'm speaking about lose in bitcoin interest from peoples...

i hope this is not just for the bitcoin downtrend.
here there are a lot of people who trust in this tecnology...
for example.. there are a lot of people who are mining with a slight loss, just to contribute to the maintenance of the blockchain...
and this is just one example...

i do not know if the reason might be an oversupply of coins...
but for sure exchange do an increase of money supply...
do you know fractional reserve???

http://en.wikipedia.org/wiki/Fractional-reserve_banking

It might really go places once people are bright enough to separate the scum from the technology. That'll be a slow and steady process which may well never happen, but you never know.

i'm with you...
but remeber...
mt-gox, bitstamp and other story there was just for human error or unsuitability, superficiality.
Not for bitcoin security flaw...


for each type of change always are taken 2 factors:
one that offers a new standard, and one that is willing to use it.
Probably, a few people have understood the importance of decentralization.
The community should engage much in spreading the real innovations introduced by bitcoin.

Firstly, fraud will be always part of bitcoin world. People are just too lazy to understand that they can protect themselves from scammers and fraudsters. Evolution black market had anti scam protection system installed and guess what? People didn't use it because they were too lazy to do it. Secondly blaming bitcoin and link it with child porn or ISIS is like blaming gun factory for all death caused by their guns because people use it in a wrong way.

I really hope that all the bitcoin community, the foundation first, focuses on the development of the protocol bitcoin improving it and continuing to innovate, but that focuses equally on the spread of knowledge of bitcoins to bring more people to this technology.
People who have less knowledge must necessarily be educated by those who have more.
It will be very long and maybe tiring ....
but at the end I'm sure that the protocol will become a worldwide standard.

Hmm... even exchanges with very high security levels such as Bitstamp have been hacked and their coins stolen. It will happen for the foreseeable future, and Bitcoin's reputation will continue to go down the drain.

+1 to this. I have a feeling that most of community sits on their hands and waits for the price to go up. This is not gonna happen without strong promotion and involvement of all of its members. Regarding fraud, I ve already stated my position about this. Bitcoin needs a system/agency/legislation which would provide a consumer protection function. In other words, somebody you can ask for help if you get scammed when dealing with BTC.

banks also are not that secure(there were many case of stolen money all over the world), they aren't so much different then current bitcoin situation, yet people keep trust them, so it's a matter of habit than anything else

I agree that banks are not that secure. But banks deal with trillions of USD worth of fiat every day, and only a few millions get stolen. Compare that to Bitcoin. Some 15% of all the Bitcoins in circulation has been stolen over the last 15 months.

Well there is no doubt that interest in Bitcoin would skyrocket if major corporations were to adopt it, in particular those companies that deal with young people. For instance if Playstation, Xbox, Facebook, Google Play etc were to incorporate Bitcoin into their systems, interest in BTC would just explode.

sorry but....
i think bitcoin it is fighting right this...
i repeat...
decentralization is what bitcoin must reach!

many hole in the security aren't bitcoin fault, it's because of the incompetence of some exchange, cough gox, bitstamp cough, or general people that don't know how to protect their desktop

i never lost any bitcoin due to thieves

Exchanges such as Bitstamp are well known for their security features. So you can't brand all of them as being incompetent. Even here in Bitcointalk, I have seen very intelligent people losing their coins. You need some luck as well, to protect your coins from thieves.

Maybe in the next few years these exchange will drop and a few new "decentralized" exchange will be created (only to trade btc <>altcoin). The problem with decentralized exchange (FIAT side) is that the fiat money are too big problematic due the chargeback possibility, the stolen of bank, credit card etc....


These exchangers are both positive and negative for the bitcoin ecosystem and the mainstream adoption

If you're waiting on wall street, it has to be a financially sound investment.  Even more so than traditional investments.
It may take a while because wall street wants to see less volatility and steady and somewhat predictable growth. If you are a large investor who typically gets 12% return, why would you choose Bitcoin over something else?

I respectfully disagree. Let's say Google starts to accept BTC. It'll make the news and all, but so what? People are still going to do business with Google using their credit card, Paypal, Google card, or whatever. What's the incentive for any of Google's customers to switch to BTC instead of some electronic form of fiat? It's almost like if some other company starts up a Paypal competitor and called it SuperPayMeNow. Why would people switch to SuperPayMeNow instead of what they've been using for years? Maybe this new payment system charges less fees to the merchant. Maybe merchants will offer customers a small discount. But I just don't think these small incentives are enough.

Yeah people are too much interested about bitcoin.

Decentralized exchanges can be even more risky. Look at what happened to Silk Road 2.0, which was a decentralized market place. Hackers stole the credentials of sellers with good reputation, and then used these accounts to scam ordinary users.

I agree with some points, but bitcoin adoption would spread considerably if big companies like those mentioned start accepting it. Maybe not explode but I think it would be the catalyst in a bigger growth over time. People would probably gradually switch over from Paypal if another better system came out and if "SuperPayMeNow" was considerably cheaper to use and was accepted everywhere like Paypal is. If places don't accept something then that is a big barrier to adoption so the more places that accept it the better for everyone and ignites bother interest and growth.

A donation/charity drive from the BTC community together with the Doge community.

As I said before, it's time for BTC to accept other cryptos and be more community oriented.  Doge has a good community.  Why not someone influential here start something with someone influential from the Doge community?

One idea is giving the core BTC devs some support.  It doesn't have to be a big amount.  Send them pizza, beer, or whatever...  A months supply of food and redbull.

And if it's a success, then just build from there.

then openbazar is doomed(which is bad because openbazar is another thing that could potentially rise the price of bitcoin), if they don't implement something automatized, a bot that check if connection is secure between two user and also work as escrow

Was Silkroad 2.0 decentralized?

I may agree with you, but the problem was the lack of security acces data of those users not of the "decentralized protocols". Now here we are talking about decentralized exchanges only for trade crypto currency, and that could be possible in the next few years.

True, but the BTC community hasn't failed to treat newcomers like stupid fuckin' n00bs.

Just think how many potential n00bs there are to tell off. Mothers, grandparents...the sky is the limit.

I don't think they were really decentralized, they were only using multisig addresses for the deposit (but I'm not sure).

How is it doomed? Even if openbazzar doesn't work perfectly new improved marketplaces will pop up that attempt to fix previous flaws. They will continue to evolve and adapt until perfect.


No, it was centralized. If it was decentralized it would probably be still running and there would have been no owner to arrest.

Just one thing, the price. It is no surprise the peaks correspond to bubbles.

Patience.

Joe public never buy at the end of a bear market. They will remember it as it surges up again. No one was buying at 2 dollars in 2011, just as few bought the last two months after a 14 month bear market. Each bubble brought in more people, with new entrants hearing about btc but not buying during the previous run. They will once again see a chance to get in, and there will be a lot more this time round.

But apparently, what you are talking about the first point is evident to any currency that you can think of all around the globe. If you can give me a currency that is totally fraud-free or crime-free, then it is possible to end all fraudulent activities to all the currency available in this world. But sadly, it doesn't exist.

It s not only fraud he s talking about. It s the ability to prevent and punish fraudsters. With Bitcoin, currently, this is extremely difficult. I consider this to be one of the major BTC weaknesses. WE  NEED CONSUMER PROTECTION.

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we can only provide consumer protection if the consumer pays, you pay for your creditcard, it is an insurance, so if needed the company can offer you the protection you need. It is putting in back a middleman in the proces, that is not what bitcoin is about. If you want to put your trust in the fallacies of the current fiat, pleas leave the bitcoin community and put your trust in the banks!

I'm just reiterating the first point so no worries, I know that the fraudulence in the bitcoin ecosystem is very evident, and that is one of the major reasons why newbs aren't that confident in bitcoin. Consumer protection? I think that is already available but not that strong compared to what a central governing body/authority can do. It occurs within us users by warning each and every other user about a possible scam or illegal services.

The media hype from the bubble and Mt Gox is over, yet the interest is stagnant. You'd expect the interest graph to actually show a decrease, if the growth had slown down. People who are experienced with bitcoin rarely google "bitcoin", so this graph is mostly growth. Bitcoin might not be growing as fast as we'd like, but this is far from a bad thing.

More people might be searching about Bitcoin. But that doesn't mean that the adoption rate is on the rise. Look at the trade volumes in major exchanges. All of them are showing a steep fall for the past one year or so.

Sadly w/ consumer protection comes centralization, comes banking institutions etc etc... everything bitcoin is not meant to be. The only consumer protection is using one's own brain and since there is an evergrowing amount of people in this world that dont want to use their brain... people will continue to shy away from Bitcoin.
Even tho Bitcoin carries many of the responsibilities of transacting similar to using cash, the one thing you cant do w/ bitcoin is beat the shit out of the person who ran away w/ ur bitcoin because u have no idea who that person is.
Bitcoin has many other issues / hurdles to overcome before ever being taken seriously as a world dominant currency. On the supply side of things the chance of a 51% attack needs to be destroyed. As long as the 51% attack is possible Bitcoin is not fully 'trustless', sure its 'trustless' as long as the network of miners plays nice.
Also, the possibility of all the coins being forever lost / unuseable due to user ignorance / retardedness is a huge isssue as well. Just look at the guy who lost 7.5k BTC in the dump/landfill.
The major difference between something like gold vs BTC, sure BTC has many strengths against gold but one of its HUGE weaknesses is all bitcoin can over time become unuseable. Gold is at least always around, it just changes hands / owners.

Another one as of late is, Im getting tired of all these entities being able to scam each other so easily and get away with it, using Bitcoin. The ratio of scams to legit business in Bitcoin GIGANTIC in comparison to fiat scams vs legit business. Its fucking sad =(
AM recently proved that even the most reputable Bitcoin based businesses are fucking scammers n scum right from the get-go. How can Bitcoin ever become dominant if nearly every person involved is a fucking untrustworthy scumbag?!

Yes, it does seem that bitcoin has a disproportionally high scam rate compared to fiat. I don't have any solid facts or figures to go on, but it just seems that way.
But even without facts and figures, the general population's perception of bitcoin can lead to its demise. And even many people in this forum tend to think negatively about the Bitcoin Foundation, the one organization that is thought to be the "central authority" in bitcoin.

Still a money for geeks and nerds and eventually traders.
Ask any Japanese here in Tokyo about Bitcoin : "Huh it has failed no ? Mt.Gox was Bitcoin right ?" ::)

I still believe that again the main driver still goes back to price. Let's just face it we can go on blabbering about how cool the payment system is, the blockchain technology, how the community actually owns the network, but in general most of the people out there are only concerned about things that can net them profit and money making. And that is why growth has more or less slowed down in tandem with the drop. I'm not going to be bothered because eventually as an individual, I'm still playing my part to promote bitcoin.

I think one of the main drawbacks with Bitcoin is the Bitcoin Core client... it takes half an hour to even get booted up on my computer, whereas the LTC and Doge clients are up within 5 mins easily. The other big drawback I see is the fact that you have to trade in 0.0something amounts of BTC, which, even though you know it's like $10 for instance, it still feels a little condescending. I would just switch to Litecoin but I think Bitcoin is more widely accepted and it's easier to find people who buy in BTC.

If the BTC developers perhaps shifted the decimal a couple of spaces to the right and sped up the Bitcoin client (I hear Electrum has failed a few times so I don't use it), then Bitcoin would become more convenient to use. I don't want to have official USD accounts involved in my online trading for various reasons, and I think a lot of other digital merchants would share this view. If Bitcoin core booted in <1 min and synced quickly it would quickly become easier to use and more acceptable to new users. Bitcoin is already more secure and more anonymous than things like PayPal which need a literal bank account and your email address.

I think that's a very niave ignorant and misinformed opinion. Maybe the majority of the public may look down upon it but that's because they don't understand it but their opinion will hopefully change over time. They can't remain ignorant for ever and will surely see the benefits of it.