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Title: Do you sometimes think Bitcoin will fail? Post by: Bit_Happy on June 21, 2014, 08:26:57 AM I am normally optimistic, but not in a good mood right now.
BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: BitCoinDream on June 21, 2014, 08:41:06 AM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Whenever I see https://en.bitcoin.it/wiki/Weaknesses I feel something terrible may happen, but whenver I see http://preev.com/ I feel the sky is not falling ;) Title: Re: Do you sometimes think Bitcoin will fail? Post by: lucolo on June 21, 2014, 08:42:06 AM Sometimes but i believe in Bitcoin. There's no one problem about Bitcoin that people can't fix IMHO.
Maybe could fail but the idea is great and can't die. The blockchain system is very revolutionary. Title: Re: Do you sometimes think Bitcoin will fail? Post by: LiteCoinGuy on June 21, 2014, 08:46:20 AM i think: btc is a risky investment and of course i can fail.
but iam here and iam using btc, so i think even more that btc will succeed. its software and problems can be solved. but we will see alot more up- and downswings. its gonna be a wild ride. if you are not "okay" with losing all your money, then you should sell today. http://www.planet-wissen.de/sport_freizeit/wassersport/segeln/img/intro_segeln_vasco_g.jpg pioneers ;) Title: Re: Do you sometimes think Bitcoin will fail? Post by: Gyrsur on June 21, 2014, 08:48:24 AM it will fail and it is one the best way to fail because of the centralization of the minting process.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Smack That Ace on June 21, 2014, 08:52:01 AM Not only are we here and using BTC but we are investing heavily into businesses involved with BTC and the eco system that will support it.
Like they said above, BTC can fail but the idea is revolutionary and the concept can never be deleted. If the govts and other institution were not scared and threatened they wouldnt want to ban the existence. Only if these guys stop going against bitcoin and actually accept the revolution i think bitcoin could be as big as the invention of telephone. Regards Duke Title: Re: Do you sometimes think Bitcoin will fail? Post by: ljudotina on June 21, 2014, 08:56:34 AM If BTC stays in current form, it will fail eventually. Good thing is BTC is in middle of development, and i dont really think development will ever stop, so future can be as brght as we make it. As far as number of confirmations go, there are talks about "instant payment" procedure, there are talks about help with decentralization etc. It's not like development is over, and we have finished product.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Bit_Happy on June 21, 2014, 09:10:14 AM When I have BTC on exchanges and trade (medium and short term) there is rarely any serious issues.
When I actually use BTC out in the "real world" and a single block takes over 35 minutes I think "%$^&*$%^&!!!!" Title: Re: Do you sometimes think Bitcoin will fail? Post by: fryarminer on June 21, 2014, 09:18:23 AM There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail.
There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg. Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin. Title: Re: Do you sometimes think Bitcoin will fail? Post by: LiteCoinGuy on June 21, 2014, 09:20:07 AM When I have BTC on exchanges and trade (medium and short term) there is rarely any serious issues. When I actually use BTC out in the "real world" and a single block takes over 35 minutes I think "%$^&*$%^&!!!!" yeah but when you use btc in the "real word", what are you buying? a coffee? a shirt? after seconds the BTC / money is there and the deal is finished. where is the problem :) ? Title: Re: Do you sometimes think Bitcoin will fail? Post by: redhatcc on June 21, 2014, 09:26:13 AM Failing is a very tough word. Crash? Maybe... spike to 2k USD is more likely before BTC is gone back to 100 USD again.
With all the crypto currencies using BTC as their main "conversion" price, if you will, and it being the oldest in the book, its pretty safe to say unless it undergoes a major hack in the future, it will always be worth "something". Also, I have to mention the markets online that use the (darknet markets), which have a strong backbone in supporting its pricing, I would say were a long way away from seeing BTC go to nothing. Title: Re: Do you sometimes think Bitcoin will fail? Post by: chaosPT on June 21, 2014, 09:27:09 AM I have once waited few hours for a confirmation .
What the thing that make the speed of confirmation ? Title: Re: Do you sometimes think Bitcoin will fail? Post by: cyberpinoy on June 21, 2014, 09:35:55 AM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Absolutely any investment can fail and Bitcoins is no different. If tomorrow every single person who had bitcoin decided not to use them and absolutely no transactions were made for a month, yes this system would fail. If you allow anyone no matter if its a bank, a government anyone in those areas, if they are allowed to control this currency you can bet your donkey it is going to fail hard and fast. Treat Bitcoins like any investment, know at any time it could fail, but why not ride the train until it does stop. If the strong big bitcoin holders out there were smart, they can actually control the future of bitcoins. Its really simple, they cant not control the coin itself, BUT they could do something that could control the success of its future, for a little while at least. I keep watching, I see the mines pulling in millions of dollars a month, I see mines pulling in hundreds of thousands of dollars a month, but i dont see any of them actually investing in the future of the currency they are so involved in. It shows they are not business minded people, just hobbyists taking a stab at an investment and riding the train, not running the train just riding it. The more people like this we have invested in this currency the harder it will be to progress its future. Title: Re: Do you sometimes think Bitcoin will fail? Post by: SpontaneousDream on June 21, 2014, 09:51:49 AM When I have BTC on exchanges and trade (medium and short term) there is rarely any serious issues. When I actually use BTC out in the "real world" and a single block takes over 35 minutes I think "%$^&*$%^&!!!!" yeah but when you use btc in the "real word", what are you buying? a coffee? a shirt? after seconds the BTC / money is there and the deal is finished. where is the problem :) ? Agreed, what's this whole issue with confirmations taking too long? All that matters is when you buy something, your account balance goes up, the merchants' balance goes down...or am I completely missing something here? I think it would take something very drastic for Bitcoin to fail. Yes, there are problems. Yes, there are bumps in the road. BUT, think of all the MILLIONS of dollars invested into Bitcoin. Once larger online merchants start accepting, along with with Winklevii and their Wall Street buddies, I can definitely see Bitcoin taking off. Title: Re: Do you sometimes think Bitcoin will fail? Post by: chaosPT on June 21, 2014, 09:56:23 AM When I have BTC on exchanges and trade (medium and short term) there is rarely any serious issues. When I actually use BTC out in the "real world" and a single block takes over 35 minutes I think "%$^&*$%^&!!!!" yeah but when you use btc in the "real word", what are you buying? a coffee? a shirt? after seconds the BTC / money is there and the deal is finished. where is the problem :) ? Agreed, what's this whole issue with confirmations taking too long? All that matters is when you buy something, your account balance goes up, the merchants' balance goes down...or am I completely missing something here? I think it would take something very drastic for Bitcoin to fail. Yes, there are problems. Yes, there are bumps in the road. BUT, think of all the MILLIONS of dollars invested into Bitcoin. Once larger online merchants start accepting, along with with Winklevii and their Wall Street buddies, I can definitely see Bitcoin taking off. Do you know there a lot of double spend issue when the confirmation does not come up you can send the same amount to get back your bitcoin . Title: Re: Do you sometimes think Bitcoin will fail? Post by: cyberpinoy on June 21, 2014, 10:04:10 AM I think it would take something very drastic for Bitcoin to fail. Yes, there are problems. Yes, there are bumps in the road. BUT, think of all the MILLIONS of dollars invested into Bitcoin. Once larger online merchants start accepting, along with with Winklevii and their Wall Street buddies, I can definitely see Bitcoin taking off. The wallstreet boys, investment groups, and the big bullion banks will never get involved in bitcoins, if they can not control its market and manipulate the value of the coin to fill their pockets with profit, the they want nothing to do with it, they will refuse to promote it and could never fit it in a portfolio. They would not use a currency they can not make billions of dollars every day at the expense of their own clients, Bitcoin is not a manipulative market right now. the only way to move this market in drastic ways like the ones they manipulate on a daily basis, would involve a lot of time, research and a whole lot of money. Always remember Wallstreet boys did not work for their fortunes, they researched very little, they made their fortunes at the expense of their clients thru collusion and manipulating markets in a way that would cost their clients money and fill their back pocket all at the same time. If these guys ever do get involved in Bitcoins in any way, that is when I will take my leave, because you can bet your sweet donkey if they are involved it means they found a way to manipulate this market, and no other reason. Title: Re: Do you sometimes think Bitcoin will fail? Post by: thecoindoctor on June 21, 2014, 10:34:46 AM I am normally optimistic, but not in a good mood right now. Of course it will in the end. Everything has its timeBTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! Â :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: Malin Keshar on June 21, 2014, 10:36:09 AM For my selfishness, bitcoin already is a success. I've already received a good ROI, so even if bitcoin goes to 0 in a month I'll be way better than before, anything more is a success for me.
But I personally doubt bitcoin will fail in the long run. Maybe replaced by something better. Bitcoin is p2p, so not easily banned, and the blockchain tech is really a innovation. There have been so many things that when they appered no one would say that they would go much far away, and they ended up conquering the world. Why not bitcoin? I think its good stay anyway, if it fails(not to happen soon) you can get good ROI, if it success you might be the next Bill Gates. Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... What's wrong with gambling and porn? They have been here way before bitcoin, and I think that 99% of people from gambling and porn industry don't even know what bitcoin is. Also the closest porn thin I've seen in the bitcoin world are cam girls that accept bitcoin. drugs: the drug money is mostly cash and fiat. Addicted people have thei brain too damaged to learn something relatively complex like bitcoin, and the druglords sometimes are poor people without access to education and computer. For me the cash money is way more drug-related than bitcoin, even in the best case scenario of adoption. About 50% of money paper has traces of cocaine, when they arrested that big Mexican cartel guy they found a billion in cash, not in bitcoins, at least 25% of Wall Street money has relation with drug money laundering, and so on. 51% attack: would be too expensive, and with limited concrete effect, except the big crash in price that would happen. Also anyone with so much hash power would be making a huge profit, so it would be like burn a stack of $100 and all your future incomes, like Joker did in Batman the Dark Knight. I think no one rational enough to get at that point would be stupid to do such thing. Even if he's against bitcoin, there are more discrete and effective ways to hurt it in the long run while taking profit. Plus the CS already made miracles with software and algorithms, so it is possible that when bitcoin skyrockets, or after a 51% attack, these issues would disappear. CP: when they say about that, they think more about deep web and tor, not about bitcoin. Title: Re: Do you sometimes think Bitcoin will fail? Post by: gondel on June 21, 2014, 10:46:10 AM I am normally optimistic, but not in a good mood right now. Of course it will in the end. Everything has its timeBTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! Â :o Most of the great books and paintings for example will never loose their value, but will gain more an more value in them. The problem here is that BTC is the first p2p currency and there wil be lot better coin invented which will bring lot more things to the world. BTW I am both scared and excited every day when i first check my wallet and the price of BTC :) It is a big gamble. BR Gondel Title: Re: Do you sometimes think Bitcoin will fail? Post by: Ilsk on June 21, 2014, 12:36:57 PM The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: hilariousandco on June 21, 2014, 01:47:36 PM Do you sometimes think fiat will fail? It has and does fail and can spiral out of control quite quickly. Can Bitcoin fail? Of course it can. It's a risk investing in it, but if you believe in it I think it'll pay off. If you don't believe in it then maybe you should go with your gut and get/cash out whilst you can. I for one believe in it and am going to enjoy the ride wherever it goes.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: allthingsluxury on June 21, 2014, 01:50:45 PM BTC is beyond the point of complete failure, it can and will likely suffer setbacks, but I believe it is now here to stay. There will always be a segment of the market that will support it. Likely those of us here talking about it now on Bitcoin talk.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: tsoPANos on June 21, 2014, 02:06:03 PM Well, the most governments are friendly to bitcoin, but what makes me feel unsafe is ethereum.
This is not like the former cryprocurrencies. It's innovative which could possibly kill bitcoin. :-\ Title: Re: Do you sometimes think Bitcoin will fail? Post by: bitsmichel on June 21, 2014, 02:08:00 PM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o As compared to a traditional international payment using bank it is extremely fast. I don't think it is too hard, it just takes a bit of time to learn. To use Microsoft Word or Facebook is actually harder than using a Bitcoin Wallet. I think, in all technological revolutionary projects there is going to be a lot of resistance. As for media, I'm not sure how many people take them seriously these days. :D Title: Re: Do you sometimes think Bitcoin will fail? Post by: p2pbucks on June 21, 2014, 02:13:54 PM dude , you need to read satoshi's white paper <bitcoin a peer to peer electronic cash system> to enhance you faith ;D
btw: i don't think confirmation time is a big deal , offchain bitcoin wallet can solve most part of it Title: Re: Do you sometimes think Bitcoin will fail? Post by: S4VV4S on June 21, 2014, 02:17:53 PM dude , you need to read satoshi's white paper <bitcoin a peer to peer electronic cash system> to enhance you faith ;D btw: i don't think confirmation time is a big deal , offchain bitcoin wallet can most part of it Ever heard of double spends? https://blockchain.info/double-spends Title: Re: Do you sometimes think Bitcoin will fail? Post by: AlexGR on June 21, 2014, 02:25:24 PM The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o[/size] People wire billions/trillions through the banks and it takes ...days. So, even if it is used to transact a fraction of this volume in a few minutes time across the globe, it's still good. And remember there are A LOT of people that do not have access to banking services, credit cards etc on a global scale. Title: Re: Do you sometimes think Bitcoin will fail? Post by: S4VV4S on June 21, 2014, 02:30:06 PM The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o[/size] People wire billions/trillions through the banks and it takes ...days. So, even if it is used to transact a fraction of this volume in a few minutes time across the globe, it's still good. And remember there are A LOT of people that do not have access to banking services, credit cards etc on a global scale. Kαλησπέρα Aλέξανδρε. Όλα καλά? The OP's concern will go away when a "credit card" service will show up. One that you load your coins to, and they perform the transaction instantly. Somehow, like what happened with the banks. They didn't have credit cards before did they? I am sure that we are soon to find out that a service like this will be announced and it's probably from one of the big players. Wouldn't be surprised if it was VISA itself. Title: Re: Do you sometimes think Bitcoin will fail? Post by: juju on June 21, 2014, 02:32:38 PM Sometime, then I lose my card or want to transfer money on Friday Night. Its infuriating not being able to access what is supposedly yours when we all know its technically possible. Also the simple fact that you have too entrust your funds to another entity to store it. Then they charge you 25 dollars for losing your card, or wanting to access my money in another place other than my bank. Or how about Online bank accounts are secured with a username and password (rofl)
Edit: Clarity Title: Re: Do you sometimes think Bitcoin will fail? Post by: lihuajkl on June 21, 2014, 02:34:16 PM The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait. if you go to coffee shop, the longer you wait, the colder you coffee becomes. Title: Re: Do you sometimes think Bitcoin will fail? Post by: S4VV4S on June 21, 2014, 02:36:34 PM The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait. if you go to coffee shop, the longer you wait, the colder you coffee becomes. I don't know how things work in your country but where I leave, we sit down, make an order, we get our order and spend let's say an hour there and then ask for the bill. If you ask for the bill earlier then you are all good ;) EDIT: if you want faster transactions then you have to trust a third party service. Sorry, that's how it goes when it comes to BTC Title: Re: Do you sometimes think Bitcoin will fail? Post by: bg002h on June 21, 2014, 02:37:04 PM Bitcoin as an investment may fail. I think it will succeed spectacularly as a payment network.
That said, Bitcoin and gold have a lot in common and gold has been good money for thousands of years. The only advantage to gold is that it's extremely durable (it doesn't rust). There's roughly 1 Troy ounce of gold per person on earth and the gold supply inflates about 1-2% per year. While the inflation of the Bitcoin supply is about 12.5% per year right now, there are far fewer than 1 bitcoin per person. Bitcoin is much easier to store, defend, transfer ownership of, and transport. Fungibility of gold and bitcoin depends on access to ways of melting the gold and careful usage of bitcoins. Bitcoin has the properties humans want in a ledger system to keep track of our debts...don't forget, gold gets it's value for being a ledger that doesn't need any translator or language for that matter. Society accepts a 1-2% forgery rate in the ledger (ie, newly mined good)....the only reason people tolerate new gold is that there has never been something truly finite to use as a ledger and gold inflates slowly. Title: Re: Do you sometimes think Bitcoin will fail? Post by: IIOII on June 21, 2014, 02:40:06 PM I think Bitcoin can still fail. But if it does, I think it will be out of totally different reasons than those mentioned frequently (confirmation times, complexity, gov. ban), because these potential problems are already addressed.
If Bitcoin fails I think it will be most likely due to a software bug or malicious code introduced by a corrupt developer that remains unnoticed until damage is done. That said, I'm still getting more confident every day that bitcoin will succeed. Title: Re: Do you sometimes think Bitcoin will fail? Post by: AlexGR on June 21, 2014, 02:40:43 PM The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o[/size] People wire billions/trillions through the banks and it takes ...days. So, even if it is used to transact a fraction of this volume in a few minutes time across the globe, it's still good. And remember there are A LOT of people that do not have access to banking services, credit cards etc on a global scale. Kαλησπέρα Aλέξανδρε. Όλα καλά? Kαλησπερα Σαββα, oλα μια χαρα 8) Quote The OP's concern will go away when a "credit card" service will show up. One that you load your coins to, and they perform the transaction instantly. Somehow, like what happened with the banks. They didn't have credit cards before did they? I am sure that we are soon to find out that a service like this will be announced and it's probably from one of the big players. Wouldn't be surprised if it was VISA itself. Preloaded coins could work. But Bitpay is also offering near-instaneous payments. The moment you send the money everything is more-or-less accepted the same second, like you just entered your paypal ID or something. For the average person it's even easier than paypal or credit cards. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Velkro on June 21, 2014, 02:41:20 PM When i have bad mood, i can think like author of this topic.
But now im very optimistic about Bitcoin. That many startups, big companies already working in Bitcoin world. Best time of Bitcoin is before us. Title: Re: Do you sometimes think Bitcoin will fail? Post by: bitsmichel on June 21, 2014, 02:41:49 PM The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait. if you go to coffee shop, the longer you wait, the colder you coffee becomes. I don't know how things work in your country but where I leave, we sit down, make an order, we get our order and spend let's say an hour there and then ask for the bill. If you ask for the bill earlier then you are all good ;) Probably he ment a take-away coffee at say an airport. Despite that, I think 1 confirmation is enough. I don't think it is really a problem if one single transaction of a coffee is not going to work Title: Re: Do you sometimes think Bitcoin will fail? Post by: adamstgBit on June 21, 2014, 02:44:12 PM op is not seeing clearly
from my experience using bitcoin is fast and easy, never had problems with confirmations, its a bit of a learning curve to get all setup, but well worth it. I prefer to use bitcoin to buy things online then visa. i wish i could spend bits at my local pizza shop. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Nerazzura on June 21, 2014, 02:44:30 PM I am normally optimistic, but not in a good mood right now. I think not, because we look pretty good progress and have started received several countries. This is not an online business is seasonal and the arrival vanished :)BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: Nerazzura on June 21, 2014, 03:09:46 PM op is not seeing clearly exactly once, I saw online payments easier than others such as pay ** l or the like. does not need to be difficult to verify the account or my wallet. and here everyone is looking for enthusiastic bitcoin faucet or better than mine with the CPU. and they enjoyfrom my experience using bitcoin is fast and easy, never had problems with confirmations, its a bit of a learning curve to get all setup, but well worth it. I prefer to use bitcoin to buy things online then visa. i wish i could spend bits at my local pizza shop. Title: Re: Do you sometimes think Bitcoin will fail? Post by: magnet007 on June 21, 2014, 04:23:03 PM Bitcoin as an investment may fail. I think it will succeed spectacularly as a payment network. yes...looks so.That said, Bitcoin and gold have a lot in common and gold has been good money for thousands of years. The only advantage to gold is that it's extremely durable (it doesn't rust). There's roughly 1 Troy ounce of gold per person on earth and the gold supply inflates about 1-2% per year. While the inflation of the Bitcoin supply is about 12.5% per year right now, there are far fewer than 1 bitcoin per person. Bitcoin is much easier to store, defend, transfer ownership of, and transport. Fungibility of gold and bitcoin depends on access to ways of melting the gold and careful usage of bitcoins. Bitcoin has the properties humans want in a ledger system to keep track of our debts...don't forget, gold gets it's value for being a ledger that doesn't need any translator or language for that matter. Society accepts a 1-2% forgery rate in the ledger (ie, newly mined good)....the only reason people tolerate new gold is that there has never been something truly finite to use as a ledger and gold inflates slowly. Title: Re: Do you sometimes think Bitcoin will fail? Post by: commandrix on June 21, 2014, 04:52:45 PM What I think is that Bitcoin unleashed something that is going to be very difficult to put back in the bottle. So, even if it fails, the idea that you can store value in something that isn't backed by major financial institutions or governments or even those guys who sell gold and silver will still be there.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: foggyb on June 21, 2014, 05:15:58 PM I am normally optimistic, but not in a good mood right now. Do you sometimes think Bitcoin will fail? Please be honest, that's all. You need to define what constitutes a failure of bitcoin. Its almost impossible to completely eliminate bitcoin. Its too useful and the virus is out there. Regardless of price, people will continue to use it unless the bitcoin network is mostly or completely wiped out (very very hard to imagine that scenario). Title: Re: Do you sometimes think Bitcoin will fail? Post by: countryfree on June 21, 2014, 05:40:37 PM I'm afraid of investors. People who don't care at all about BTC, and who just want to make money out of it, but I believe in BTC because plenty of simple people like me have a need for a decentralized world currency. BTC has to win, otherwise, we'll have to invent another world crypto-currency.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Catmoonglow on June 21, 2014, 05:44:09 PM Bitcoin may fail, but technology is going to continue to decentralize power across society. it's been happening for centuries
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Ludi on June 21, 2014, 10:29:14 PM It could very well fail, but I think its got a few years left in it yet, but I'm more inclined to believe it wont fail and will actually go on to become revolutionary.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on June 21, 2014, 10:37:10 PM Good thing is BTC is in middle of development, and i dont really think development will ever stop, so future can be as brght as we make it. Well said.In response to OP, I highly recommend a viewing of Jeff Garzik's excellent Bitcoin the Organism (https://www.youtube.com/watch?v=vaPgfErzeu0) TED talk. Not only will Bitcoin not fail, Bitcoin will save many economies from failing, probably saving countless lives in the not too distant future. Bitcoin is a lifeboat on the Titanic. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Brooker on June 21, 2014, 10:43:23 PM I'll give that TED talk a listen to see what he's got to say.
I think the only way bitcoin will fail is if something else comes along that surpasses bitcoin in many ways. I hope it doesnt happen, but bitcoin seems pretty foolproof to me. Title: Re: Do you sometimes think Bitcoin will fail? Post by: nwfella on June 21, 2014, 11:14:12 PM "failure" entirely possible but highly unlikely imho
Title: Re: Do you sometimes think Bitcoin will fail? Post by: franky1 on June 21, 2014, 11:25:47 PM there is always utility for money, so as long as the code isnt broke, people will find a use for it.
if the price drops, others will buy. bitcoin will never be completely gone. just its usage, userbase and value may alter Title: Re: Do you sometimes think Bitcoin will fail? Post by: BTCisthefuture on June 21, 2014, 11:29:02 PM I'm optimistic about bitcoin in the long run and like many people on here I have my own personal reasons for WANTING bitcoin to succeed.
With that said, yes there are plenty of times I think about bitcoin failing over time. I believe p2p cryptocurrencies and the technology behind it is certainly here to stay. Bitcoin itself very well could die off in the future, but cryptocurrencies in general are certainly here to stay in one form or another. Title: Re: Do you sometimes think Bitcoin will fail? Post by: MÖGUL™ on June 22, 2014, 12:06:31 AM Bitcoin will thrive for the next 5 years at least if not more I feel. The pros out way the cons 100 times over. It's a growing phenomenon that anyone who understands it and how it works is instantly excited by it (Literally) :D Every year more and more people are learning about it and started to use it.. more and more companies are incorporating it, there are more start-ups happening, with large investments, its just going to snowball until everyone in the world see's it as another source of money and trading. If what you see in the news intimidates you, then your are an easily led individual.
the future is BTC! MÖGUL™ Title: Re: Do you sometimes think Bitcoin will fail? Post by: franky1 on June 22, 2014, 12:26:09 AM Bitcoin will thrive for the next 5 years at least if not more I feel. i think bitcoins has over a hundreds years for life. but planning for 5 year cycles (most people live by a 5-year-plan in work and life) is a safe and rational thing we should all do. Title: Re: Do you sometimes think Bitcoin will fail? Post by: bigasic on June 22, 2014, 12:31:15 AM Nothing is certain in life, especially something like bitcoin. Now,2 or 3 years ago, I wondered all the time if it would get accepted, if I didn't have any doubts, I would have held on to all my coins that I purchased/traded. But, when btc would go up 20 or 30 percent, I figured Id take my profits and run. Today, I don't do anything like that, I wish my confidence was as high then as it is now.
But will it fail? technically it could, but I think that possibility is very remote.. I liken btc now as the internet was in the early to mid 90's.... Title: Re: Do you sometimes think Bitcoin will fail? Post by: QuestionAuthority on June 22, 2014, 01:37:08 AM It's impossible for Bitcoin to fail at this point.
If everyone in the world stopped using it right now it was still a successful experiment. That's all it was started as anyway. Title: Re: Do you sometimes think Bitcoin will fail? Post by: beetcoin on June 22, 2014, 01:52:28 AM It's impossible for Bitcoin to fail at this point. If everyone in the world stopped using it right now it was still a successful experiment. That's all it was started as anyway. this is blind thinking. there are multiple ways that bitcoin could collapse. i'm not saying that it will happen or that it won't, but there's the possibility. anyone who thinks it will definitely go one way is probably myopic. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Willisius on June 22, 2014, 02:11:16 AM I think BTC will be fine as long as it can improve itself. Here's a post by satoshi I found not long ago:
unsigned int is good until 2106. Surely the network will have to be totally revamped at least once by then. There should not be any signed int. If you've found a signed int somewhere, please tell me (within the next 25 years please) and I'll change it to unsigned int. Note his confidence that the network will have to be totally revamped at least once by 2106. Now, if BTC can't improve itself, that's a different story. Title: Re: Do you sometimes think Bitcoin will fail? Post by: sukamasoto on June 22, 2014, 04:56:26 AM Sometimes but i believe in Bitcoin. There's no one problem about Bitcoin that people can't fix IMHO. I agree with you and I also think how bitcoinMaybe could fail but the idea is great and can't die. The blockchain system is very revolutionary. continuation after the coming decades Title: Re: Do you sometimes think Bitcoin will fail? Post by: QuestionAuthority on June 22, 2014, 07:19:10 AM It's impossible for Bitcoin to fail at this point. If everyone in the world stopped using it right now it was still a successful experiment. That's all it was started as anyway. this is blind thinking. there are multiple ways that bitcoin could collapse. i'm not saying that it will happen or that it won't, but there's the possibility. anyone who thinks it will definitely go one way is probably myopic. You need to learn to read ALL of a post before commenting. Title: Re: Do you sometimes think Bitcoin will fail? Post by: tokeweed on June 22, 2014, 08:43:56 AM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Jed will save us. https://i.imgur.com/4M9fXYH.jpg When I sold Mt. Gox a few years ago, Bitcoin was trading at less than a dollar. Today Bitcoin exists in a new environment. Now, I'm building something that will be better for Bitcoin and better for you. I'm looking for alpha testers. -Jed http://alphatesters.secretbitcoinproject.com Title: Re: Do you sometimes think Bitcoin will fail? Post by: S4VV4S on June 22, 2014, 09:29:16 AM Bitcoin is destined to fail in my opinion.
What I see as a major problem is the difficulty increases and the mining centralization. Right now the difficulty is sky high yet manufacturers and consumers still have incentive to manufacture and buy faster miners. So what happens when the incentive is not good enough to go through the costs? Depend on transaction fees? How much will those fees be in order for ANY business or individual to keep up with the costs of running their operation? For sure technology will progress but that is up to some point. What happens then? BTC mining has become centralized and that is by the manufacturers themselves who "test" their equipment for as long as it takes to have their next miner ready and get rid of the old. The pools are also a huge concern on the matter. None the less, the difficulty keeps rising and much faster than the two weeks predicted by Satoshi. I don't know maybe I think too much or too little, but what I see happening is either Bitcoin crashing or Bitcoin being controlled by one and only authority that lives off on all transaction fees (something like VISA). I know this wont happen for some time but it will happen. So what I see happening in the future is a completely decentralized coin taking over. Just my thoughts on the matter.... Title: Re: Do you sometimes think Bitcoin will fail? Post by: rext on June 22, 2014, 09:54:31 AM YOLO man,
Go hard or go home. Title: Re: Do you sometimes think Bitcoin will fail? Post by: lihuajkl on June 22, 2014, 11:35:21 AM Not only are we here and using BTC but we are investing heavily into businesses involved with BTC and the eco system that will support it. I don't think it will fail. The btc network will be improved. There are a minority of guys who accept inventions at the beginning. The reality is so. After some while the majority will accept BTC.Like they said above, BTC can fail but the idea is revolutionary and the concept can never be deleted. If the govts and other institution were not scared and threatened they wouldnt want to ban the existence. Only if these guys stop going against bitcoin and actually accept the revolution i think bitcoin could be as big as the invention of telephone. Regards Duke Title: Re: Do you sometimes think Bitcoin will fail? Post by: SOAD on June 22, 2014, 01:52:27 PM That's one good thing about bitcoin. If any problems do occur they could probably be solved by tweaking the network, but I think we'll be ok.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Yeezus on June 22, 2014, 01:53:44 PM I think the real threat that could cause bitcoin to fail if from a better system for sending money comes along. Bitcoin is genius, but it's never going to be perfect. Maybe something can improve upon it slightly.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: rext on June 22, 2014, 06:09:18 PM Bitcoin won't fail, it has already passed some of the most toughest edges. It is getting more stabilized, you are starting to see more businesses accepting bitcoin. It is going to be like a daily normal event of people living all around the world.
1. People start getting aware of bitcoin, and how it works 2. You will see a steady increase in the number of ATMs to cater to the higher demand 3. You will see businesses that formerly rejected bitcoins, start accepting them now 4. Banks would need to think, ok this bitcoin notion is getting bigger, so how can we tap into that massive market, what additional services can we offer to our business clients. 5. Who knows you could have, bitcoin insurance companies, bitcoin digital marketplaces like clickbank Possibilities are endless. Title: Re: Do you sometimes think Bitcoin will fail? Post by: S4VV4S on June 22, 2014, 07:23:13 PM Bitcoin won't fail, it has already passed some of the most toughest edges. It is getting more stabilized, you are starting to see more businesses accepting bitcoin. It is going to be like a daily normal event of people living all around the world. 1. People start getting aware of bitcoin, and how it works 2. You will see a steady increase in the number of ATMs to cater to the higher demand 3. You will see businesses that formerly rejected bitcoins, start accepting them now 4. Banks would need to think, ok this bitcoin notion is getting bigger, so how can we tap into that massive market, what additional services can we offer to our business clients. 5. Who knows you could have, bitcoin insurance companies, bitcoin digital marketplaces like clickbank Possibilities are endless. Bro, the problem is that businesses accept BTC but they instantly convert to fiat. Title: Re: Do you sometimes think Bitcoin will fail? Post by: thepenmen22 on June 22, 2014, 08:36:27 PM In my views, it won't. There is a HUGE fan base for bitcoins. Even this forum is getting tons of posts a day. People love it and want to support it. If something serious does happen to it, I can see the fan base sticking up for it and holding it up until the very end.
Sure there may be other competitors, but who says that both of them can't exist? Title: Re: Do you sometimes think Bitcoin will fail? Post by: MÖGUL™ on June 25, 2014, 08:21:55 PM Bitcoin won't fail, it has already passed some of the most toughest edges. It is getting more stabilized, you are starting to see more businesses accepting bitcoin. It is going to be like a daily normal event of people living all around the world. 1. People start getting aware of bitcoin, and how it works 2. You will see a steady increase in the number of ATMs to cater to the higher demand 3. You will see businesses that formerly rejected bitcoins, start accepting them now 4. Banks would need to think, ok this bitcoin notion is getting bigger, so how can we tap into that massive market, what additional services can we offer to our business clients. 5. Who knows you could have, bitcoin insurance companies, bitcoin digital marketplaces like clickbank Possibilities are endless. Exactly! Title: Re: Do you sometimes think Bitcoin will fail? Post by: cccminer on June 25, 2014, 09:18:04 PM I think it depends on your definition of fail. Will it become a viable currency. Yes I think so. Will it become centralized, and controlled by a handful of powerful (and wealthy) people. Yes I think so. Bitcoin will be successful currency, but we will simply swap one unaccountable entity (central banks), for another. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Swimpool on June 25, 2014, 09:25:52 PM I think Bitcoin has come to far to ever really fail
Title: Re: Do you sometimes think Bitcoin will fail? Post by: zzojar on June 25, 2014, 09:38:22 PM I'd be very surprised if bitcoin failed, but if it did fail, it will not be for the op's reasons. It will solely be due to strong opposition from the international bankers and the 1% of the population who holds 99% of the money. They could easily pay off governments to ban bitcoin, or they could put millions of dollars into ads that brainwash the sheeple into staying away from bitcoin.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: QuestionAuthority on June 25, 2014, 09:43:35 PM I think it depends on your definition of fail. Will it become a viable currency. Yes I think so. Will it become centralized, and controlled by a handful of powerful (and wealthy) people. Yes I think so. Bitcoin will be a successful currency, but we will simply swap one unaccountable entity (central banks), for another. Try not to use common sense here. It just pisses everyone off. Bitcoin doesn't have to be used by everyone in the world or replace all government currencies to be a success. Even if it just captures a share of the money transfer business away from Western Union it's successful. Businesses and criminals alike have already made millions of dollars with Bitcoin so it's already a success for them. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Skele on June 25, 2014, 09:53:48 PM I believe that Bitcoin will not replace current forms of money at least in a few 10-20 years, it will be adopted slowly and maybe in a distant
future cash will be gone. But Bitcoin fail ? Nah Title: Re: Do you sometimes think Bitcoin will fail? Post by: seriouscoin on June 25, 2014, 10:27:07 PM I wonder where the old smart members are? They dont seem to post anymore.
So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30). Its amusing that the noobs seem to be more optimistic about bitcoin. Title: Re: Do you sometimes think Bitcoin will fail? Post by: QuestionAuthority on June 25, 2014, 10:53:41 PM I wonder where the old smart members are? They dont seem to post anymore. So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30). Its amusing that the noobs seem to be more optimistic about bitcoin. The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Title: Re: Do you sometimes think Bitcoin will fail? Post by: MÖGUL™ on June 26, 2014, 01:33:14 AM I'd be very surprised if bitcoin failed, but if it did fail, it will not be for the op's reasons. It will solely be due to strong opposition from the international bankers and the 1% of the population who holds 99% of the money. They could easily pay off governments to ban bitcoin, or they could put millions of dollars into ads that brainwash the sheeple into staying away from bitcoin. This would be the most logical possibility. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on June 26, 2014, 01:57:44 AM I'd rather go broke supporting Bitcoin and world peace than get rich supporting fiat scrip murder-money and world war.
But to answer your question, no, I don't ever think Bitcoin will fail. I'm more confident of Bitcoin's global adoption than I have been of anything else in my entire life. And I'm generally fairly confident. Title: Re: Do you sometimes think Bitcoin will fail? Post by: seriouscoin on June 26, 2014, 02:01:50 AM I wonder where the old smart members are? They dont seem to post anymore. So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30). Its amusing that the noobs seem to be more optimistic about bitcoin. The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember? I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails. And what makes you think the noobs dont know jack about btc? lol ... Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on June 26, 2014, 02:16:41 AM Then you're dumb as a rock. 25k btc back then was barely worth your life. No amount of money is ever worth a human life.The fact that so many people think that way really cuts to the heart of the reason I so passionately despise capitalism. Also this shit, though (http://rt.com/usa/168488-chen-guangbiao-feed-homeless-event/). Title: Re: Do you sometimes think Bitcoin will fail? Post by: seriouscoin on June 26, 2014, 02:20:27 AM Then you're dumb as a rock. 25k btc back then was barely worth your life. No amount of money is ever worth a human life.The fact that so many people think that way really cuts to the heart of the reason I so passionately despise capitalism. Agree. The current monetary system is nothing but poison to humanity. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Harley997 on June 26, 2014, 03:56:22 AM I'd be very surprised if bitcoin failed, but if it did fail, it will not be for the op's reasons. It will solely be due to strong opposition from the international bankers and the 1% of the population who holds 99% of the money. They could easily pay off governments to ban bitcoin, or they could put millions of dollars into ads that brainwash the sheeple into staying away from bitcoin. This would be the most logical possibility. The "1%" do not need or want the status quo to stay the same as far as how money is used and measured. The very rich can easily adapt (more so then most everyone else) and is willing to take risks (on things like bitcoin) Title: Re: Do you sometimes think Bitcoin will fail? Post by: Novelty - on June 26, 2014, 04:08:08 AM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Conf times take way to long these days Impossible to get things dome in a timely manner Title: Re: Do you sometimes think Bitcoin will fail? Post by: bbit on June 26, 2014, 04:10:10 AM the #1 problem with bitcoin is basically nobody spends it.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: jubalix on June 26, 2014, 04:58:18 AM If you can appreciate that magnitude of the break through that BTC is, no.
BTC has nothing even close to like it in recorded history. For the first time you have unseazble wealth. BTC is a new way you can reorder humanity and the world, that simply was not available before in any shape or from. Did email fail? No, the interface merely changed. The Concept of bitcoin will not fail, eg viable cryptos, even if BTC did itself. BTC itself can fork, so it can adopt anything it needs to. Title: Re: Do you sometimes think Bitcoin will fail? Post by: mercistheman on June 26, 2014, 06:04:56 AM Gotta luv all the nay sayers... seems like a fine time to buy... thank you very much ;)
Title: Re: Do you sometimes think Bitcoin will fail? Post by: QuestionAuthority on June 26, 2014, 06:29:16 AM I wonder where the old smart members are? They dont seem to post anymore. So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30). Its amusing that the noobs seem to be more optimistic about bitcoin. The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember? I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails. And what makes you think the noobs dont know jack about btc? lol ... Their posts. ROFL Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on June 26, 2014, 06:48:13 AM No amount of money is ever worth a human life. well, in this world, that depends on which side of the gun you are... Title: Re: Do you sometimes think Bitcoin will fail? Post by: lihuajkl on June 26, 2014, 06:50:35 AM the #1 problem with bitcoin is basically nobody spends it. BTC is decerntralized cryptocurrency. But 1% of the population holds 99% of the money. It is not fair for 99% of population who have to pay the equivalent amount of fiat for BTC at the exchange. It is the 1% of population who is a member of the co-founder or grab extensive mining rigs. They will scoop great profit from the holding of BTC unfairly. Title: Re: Do you sometimes think Bitcoin will fail? Post by: seriouscoin on June 26, 2014, 07:22:00 AM I wonder where the old smart members are? They dont seem to post anymore. So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30). Its amusing that the noobs seem to be more optimistic about bitcoin. The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree. Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact. Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember? I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails. And what makes you think the noobs dont know jack about btc? lol ... Their posts. ROFL And do your posts say about you knowing jack shit? Fuck no. At least with noobs, its reasonable to see. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Light on June 26, 2014, 07:29:01 AM the #1 problem with bitcoin is basically nobody spends it. BTC is decerntralized cryptocurrency. But 1% of the population holds 99% of the money. It is not fair for 99% of population who have to pay the equivalent amount of fiat for BTC at the exchange. It is the 1% of population who is a member of the co-founder or grab extensive mining rigs. They will scoop great profit from the holding of BTC unfairly. You can hardly argue that it is unfair considering most of the early adopters shaped much of what we have today and without them we wouldn't have Bitcoin in the first place. As a result of their contribution the have been rewarded by having earned a large amount of wealth from this. It's like saying that it's unfair for Bill Gates to be so rich as he was one of the few to make personal computing accessible. He simply has earned his just desserts for contributing what society believes to be a very valuable contribution. Title: Re: Do you sometimes think Bitcoin will fail? Post by: IamCANADIAN013 on June 26, 2014, 07:34:13 AM Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail.
Then there is the fact that the central banks are so powerful that they could crush it like a bug. Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore. I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there. Title: Re: Do you sometimes think Bitcoin will fail? Post by: seriouscoin on June 26, 2014, 07:45:32 AM Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail. Then there is the fact that the central banks are so powerful that they could crush it like a bug. Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore. I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there. There are 2 types of haters: + The noobs who suffer the sour grapes symptoms : http://www.urbandictionary.com/define.php?term=Sour+Grapes "In an old fable by Aesop, a hungry fox noticed a bunch of juicy grapes hanging from a vine. After several failed attempts to reach the grapes, the fox gave up and insisted that he didn't want them anyway because they were probably sour. " + The senior members who lost money/potential profits thro exchange scams or bad trading. Most of them never believe or understand the economic aspect of bitcoin. Now they cant afford to buy in and they're posting FUDs out of bitterness. Title: Re: Do you sometimes think Bitcoin will fail? Post by: jc01480 on June 26, 2014, 07:48:15 AM Bitcoin fail? No. You, maybe? Yes.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on June 26, 2014, 08:00:06 AM Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail. Then there is the fact that the central banks are so powerful that they could crush it like a bug. Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore. I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there. There are 2 types of haters: + The noobs who suffer the sour grapes symptoms : http://www.urbandictionary.com/define.php?term=Sour+Grapes "In an old fable by Aesop, a hungry fox noticed a bunch of juicy grapes hanging from a vine. After several failed attempts to reach the grapes, the fox gave up and insisted that he didn't want them anyway because they were probably sour. " + The senior members who lost money/potential profits thro exchange scams or bad trading. Most of them never believe or understand the economic aspect of bitcoin. Now they cant afford to buy in and they're posting FUDs out of bitterness. does the angry latecomer comes into the sour grapes noob category ? Title: Re: Do you sometimes think Bitcoin will fail? Post by: smashingpumpkin on June 26, 2014, 10:03:58 AM Bitcoin has a long long way to go. Of course it might fail,but not in the near future, im sure.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: RomertL on June 26, 2014, 11:51:27 AM I believe enough in Bitcoin to convert all fiat I don't need to Bitcoin, but I don't do bank loans or selling everything valuable I have to buy more. In the long run I'm not at all worried about it being too complicated for non techies or too hard to understand (anyone old enough to remember internet in its early days or ms Dos?). Governments and banksters can do a lot of harm, but I'm confident Bitcoin will win in the long run. The only thing I'm a little bit worried about long term is a better crypto and 51% attacks.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on June 26, 2014, 01:41:05 PM No amount of money is ever worth a human life. well, in this world, that depends on which side of the gun you are... Think for a moment about the long-view evolution of our weapons. In the beginning, there were only melee weapons - basically extensions of the human arm. Stone, bone, and wooden clubs. With these tools, you really couldn't kill more than one person at a time. It couldn't have been long before some clever fellow sharpened a stick, throw it real hard, and realized (s)he could kill effectively at 10-15 feet instead of just 2-3 by throwing that spear instead of thrusting it. Much later we invented slings and bows, multiplying our effective killing and disabling range exponentially, from 15-20 feet to 50+. But these tools were greatly limited by ammo. How many arrows could one person reasonably carry? How many stones for a sling? These things had weight, and thus one person was limited to being able to kill perhaps 20-40 other people at range before running out of ammo. Still with me? Now flash forward to the modern era. The gun changed everything. Hundreds of bullets can easily be carried, the range is far greater, the kinetic energy exponentially greater, and the weapon requires far less skill to use effectively than a bow and arrow or a sling. To say nothing of the horror of explosives, the modern gun enables one person to kill hundreds within minutes. Flash forward again, to the next evolution of weaponry. What will the weapon of the future look like? You probably think of a highly advanced gun, perhaps shooting energy beams of some sort. But you'd be wrong - dead wrong. If we continue down this path of evolving our murder-tools at the cutting edge of technology, the logical conclusion is not some cool energy gun. What sorts of killing tools do you think the age of nanotechnology and true general A.I. will bring? The logical conclusion is a device similar in size and usability to an iPhone, where one can push a button and the weapon intelligently and instantly kills everyone around you in a 1,000 foot radius. To say nothing of home-brewed biological weapons... Think carefully now, do you still want to live in a world governed by violence when technology has put this kind of weaponry into our hands? It's closer than you think. http://www.digitaltonto.com/wp-content/uploads/2012/04/s-curve.gif Humanity now stands at the crossroads between reason and annihilation. We must abandon all forms of organization that rely on systemic violence, or we must abandon all hope. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Squidoogeek on June 26, 2014, 08:34:52 PM I think it can fail, but only if either people get arrogant in the same way that people were during the "Roaring Twenties" when stock kept going up and life was good until banks started to fail and some cautious investors sold their stocks, OR, everybody panics at the first sign of negative news and decides to sell their Bitcoin at once, and then Bitcoin never really recovers. But I think the IDEA behind Bitcoin will still be there and you can be sure that there are other altcoins that could potentially take over if Bitcon fails.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: keithers on June 27, 2014, 12:00:41 AM I don't think it is possible for it to fail completely at this point. The invention/technology will forever be built upon. BTC in it's current state could fall potentially, but even then it would come back in a different form.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: ThomasCrowne on June 27, 2014, 12:03:47 AM Personally I think most people buying bitcoin at this point are long-term speculative. Sure, there seems to be a few fat bag holders out there manipulating the price(s) quite a bit but I imagine as more and more of those coins get into the hands of long-term investors their overall influence will hopefully decrease.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Harley997 on June 27, 2014, 12:33:56 AM the #1 problem with bitcoin is basically nobody spends it. BTC is decerntralized cryptocurrency. But 1% of the population holds 99% of the money. It is not fair for 99% of population who have to pay the equivalent amount of fiat for BTC at the exchange. It is the 1% of population who is a member of the co-founder or grab extensive mining rigs. They will scoop great profit from the holding of BTC unfairly. You can hardly argue that it is unfair considering most of the early adopters shaped much of what we have today and without them we wouldn't have Bitcoin in the first place. As a result of their contribution the have been rewarded by having earned a large amount of wealth from this. It's like saying that it's unfair for Bill Gates to be so rich as he was one of the few to make personal computing accessible. He simply has earned his just desserts for contributing what society believes to be a very valuable contribution. Title: Re: Do you sometimes think Bitcoin will fail? Post by: VeroPossumus on June 27, 2014, 03:05:57 AM the #1 problem with bitcoin is basically nobody spends it. But before nobody would accept it and now the situation gets better. There is a bonch of things that now can be bought with Bitcoin, so i think people will finally start spending. Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on June 27, 2014, 07:59:48 AM Its an experiment, and I feel like we've already won, in terms of changing everything we know about finance when do you think we will go out of beta, bitcoin v1.0 ? Title: Re: Do you sometimes think Bitcoin will fail? Post by: KimNam on June 27, 2014, 08:05:42 AM YES
bitcoin price is too speculative, you can become rich man if prices skyrocketing, but there's also possibilty bitcoin prices will crash and you lost your money here that's why i don't put all / majority of my investments in BTC, maximum only 10% and sometimes i think bitcoin is like "pink sheet stocks", not huge market cap and easy to manipulate Title: Re: Do you sometimes think Bitcoin will fail? Post by: Light on June 27, 2014, 08:12:20 AM Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this. Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin. Title: Re: Do you sometimes think Bitcoin will fail? Post by: KimNam on June 27, 2014, 08:18:02 AM Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this. Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin. i see your join date was in 2010 early adopters will very rich for now, if they still save their coin until now (or last rise in dec 2013) Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on June 27, 2014, 08:18:36 AM Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this. Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin. quite true, and quite often they spend those early bitcoins to start new bitcoin businesses Title: Re: Do you sometimes think Bitcoin will fail? Post by: theecoinomist on June 28, 2014, 02:09:54 PM The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait. if you go to coffee shop, the longer you wait, the colder you coffee becomes. I don't know how things work in your country but where I leave, we sit down, make an order, we get our order and spend let's say an hour there and then ask for the bill. If you ask for the bill earlier then you are all good ;) EDIT: if you want faster transactions then you have to trust a third party service. Sorry, that's how it goes when it comes to BTC Bitcoin processors accept payment at 0 confirmations, you should not wait more than a few seconds.. Title: Re: Do you sometimes think Bitcoin will fail? Post by: monim1 on June 29, 2014, 03:33:27 PM Normally i don't think like this but sometimes i think that BTC may could fall. I think like this because a lot countries bann BTC. This is the only reason why i think like this.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: ChiefTime on June 29, 2014, 05:20:30 PM Nothing lasts forever, but BTC has very good decentralization based foundation that will help it not to fail in the near future
Title: Re: Do you sometimes think Bitcoin will fail? Post by: jbreher on July 02, 2014, 04:23:29 AM the modern gun enables one person to kill hundreds within minutes. Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes, then I'll just categorize that as hyperbole. Yes, advancements in technology have enabled us to project force at a distance. However, along with the peril, this has also brought a social good. The gun is the first tool mankind has had that has enabled the weak and the infirm to defend themselves on an equal footing to their aggressors. "God made man, Samuel Colt made them equals" Title: Re: Do you sometimes think Bitcoin will fail? Post by: Bit_Happy on July 02, 2014, 04:30:08 AM I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. ... Thanks everyone for your positive and negative responses: "I am normally optimistic"....and this topic was started on a rare bad day. Someday I will probably read this thread, but not today. :D Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on July 02, 2014, 04:34:38 AM the modern gun enables one person to kill hundreds within minutes. Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes Title: Re: Do you sometimes think Bitcoin will fail? Post by: jbreher on July 02, 2014, 05:36:28 AM the modern gun enables one person to kill hundreds within minutes. Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes Reference? Title: Re: Do you sometimes think Bitcoin will fail? Post by: Light on July 02, 2014, 06:30:53 AM you are not early adopter, Light? i see your join date was in 2010 early adopters will very rich for now, if they still save their coin until now (or last rise in dec 2013) Haha, sadly not. I didn't buy very much till late last year, so I'm pretty much in the same boat as nearly everyone else. I was interested in it early on, but didn't really think it would get very far so I didn't buy any or mine that much. Then I took a hiatus and came back last year and the rest is history. Yeah, most of them who managed to mine a crap ton will be sitting pretty right now. I swear they were already pretty pleased when we hit $30 and $100 respectively. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Denise520 on July 02, 2014, 06:39:39 AM At present, I'm in a good mood.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Justin00 on July 02, 2014, 07:08:25 AM I agree with everything you said minus the bad media.
All though I suppose most people might associate bitcoin with illegal stuff and silk road. Still though, its hard for most people to understand.. How the hole network works, tx/rx etc. I wonder if alot of people download the client and have no BTC so they just get bored and uninstall. but yeah confirm time is possibly going to be a killer for any instant items, coffee, food etc. I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: Timmmaahh on July 02, 2014, 07:14:09 AM YES bitcoin price is too speculative, you can become rich man if prices skyrocketing, but there's also possibilty bitcoin prices will crash and you lost your money here that's why i don't put all / majority of my investments in BTC, maximum only 10% and sometimes i think bitcoin is like "pink sheet stocks", not huge market cap and easy to manipulate Simply invest money you don't fear to lose, then you're fine. Bitcoin is an awesome experiment and i guess it will change people's mind about our finance system.. but we'll see Title: Re: Do you sometimes think Bitcoin will fail? Post by: Timmmaahh on July 02, 2014, 07:16:24 AM I agree with everything you said minus the bad media. All though I suppose most people might associate bitcoin with illegal stuff and silk road. Still though, its hard for most people to understand.. How the hole network works, tx/rx etc. I wonder if alot of people download the client and have no BTC so they just get bored and uninstall. but yeah confirm time is possibly going to be a killer for any instant items, coffee, food etc. I am normally optimistic, but not in a good mood right now. BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Do you really need confirmations to buy a coffee or something like that? I'm sure for transactions over 1000$ you need some sort of proof, but even with 3 confirmations your quite save and it'll take average of 30 mins... which is in case of wire transfer highspeed... Title: Re: Do you sometimes think Bitcoin will fail? Post by: AdamSmith on July 02, 2014, 07:27:24 AM In light of recent events, if people still do not believe bitcoin is starting to be accepted by maintream, I do not think this group of people can be convinced with more evidence.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: TaunSew on July 02, 2014, 08:02:53 AM It's far from being early in the game. Bitcoin and all the alts put together is only $10 billion. The IT bubble of the late 1990s was $7 Trillion. Housing Bubble of 2008 was $10 trillion. There's $2 trillion investment gold and $97 trillion investments world wide. $400 trillion derivatives.
Very easy for crypto currencies to be $1 trillion... it's guaranteed as BTC and alts have many uses. There's $500 billion in global remittance (foreign workers sending money home). $1 trillion is spent on tourism and Bitcoin is a convenient way to get around cash limits at the borders and the extortion fees in exchanging. As for gold - that weighs 25 pounds per $1 million, not something you can "bug out" with. Whereas anything like Bitcoin or an alternate can be hosted on some cloud service on the internet and no militia or border official can steal it from you. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Djo on July 02, 2014, 08:09:40 AM it`s normal to have doubts on bitcoin. I want to address the part you mentioned media bad rep, child porn, gambling etc... bitcoin hasn`t created that part of society it exist before bitcoin and people did that before bitcrane. Don`t think that the fact people link BTC with those ... will destroy it.
One think remains scary about bitcoin (speaking for myself), the price is too speculative, you can get over night as well as loose what all you BTC investment. I believe bitcoin will keep getting more popular till it price changes dramatically, then people will start re-thinking their opinions of BTC. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Erdogan on July 02, 2014, 01:19:08 PM From now and years in the future, maybe five years, there will be about ten times more naysayers than users. If you are the type that follow the flock, you lose.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: superresistant on July 02, 2014, 01:21:25 PM No. How could it fall lol ? Don't be silly. Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on July 08, 2014, 05:43:48 AM No. How could it fall lol ? Don't be silly. And what about if it falls but does not fail ? I for one don't need a $10k BTC to use it Title: Re: Do you sometimes think Bitcoin will fail? Post by: sureman_otter on July 08, 2014, 05:56:49 AM the biggest problem with bitcoin is just getting it, if your not mining it seems really scamy just to buy a few of them, that seems to be changing a little, but it will never be mainstream if joe schmoe has to make a call and meet someone he doesn't know across town with cash to buy a bitcoin.. if they can solve that huge problem it will be very unlikely to fail, if they cant, widespread acceptance will likely not happen and will elevate the risk of crashing or failing.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Kenshin on July 08, 2014, 06:01:01 AM There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail. There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg. Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin. I totally agree with you. That is exactly how I think too. I think bitcoin will be BIG. Everyone will use it. Title: Re: Do you sometimes think Bitcoin will fail? Post by: albus on July 08, 2014, 06:25:33 AM There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail. There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg. Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin. I totally agree with you. That is exactly how I think too. I think bitcoin will be BIG. Everyone will use it. And I must add, it's not just money that has been invested in the ecosystem. Look at the major universities around the world, how students are excited about it. The MIT free bitcoin event is just one of them. All these guys are starting new businesses in the bitcoin ecosystem. Someone (sorry I don't remember where I read that) evaluated that about 20 000 persons were working on bitcoins/altcoins projects, and they are probably a good portion of the brightest minds our societies will produce in the next 5 years. With so much brainpower invested, how could it fail? Title: Re: Do you sometimes think Bitcoin will fail? Post by: Bitcoin Magazine on July 08, 2014, 07:16:03 AM NEVAR!!! to 70,000 a BTC
Title: Re: Do you sometimes think Bitcoin will fail? Post by: LiteCoinGuy on July 08, 2014, 09:19:47 AM No. How could it fall lol ? Don't be silly. that´s an optimist :D Title: Re: Do you sometimes think Bitcoin will fail? Post by: BitsBitsBits on July 08, 2014, 10:30:26 AM I think sometimes that the hype will die off before bitcoin is properly introduced to the masses.
It seems like it's getting more popular on a daily basis but not as fast as you'd think. We are still early on and we still need time to get bitcoins out there. I do believe in it though and I am here to stay. Hope everyone else feels the same way cause that's what we need for btc to succeed. :) Title: Re: Do you sometimes think Bitcoin will fail? Post by: Minecache on July 08, 2014, 12:06:38 PM Bit coin is more likely to fail than succeed. The probability of failure is cited around 80% not least because it goes against the very ethos of our centuries old banking systems and the banksters don't like that.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: spazzdla on July 08, 2014, 01:10:20 PM Sometimes.. but I invested what I was willing to lose.
To the moon or bust is my plan. I will hold till +100k and will never sell more than half. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Noruka on July 08, 2014, 01:20:48 PM Bit coin is more likely to fail than succeed. The probability of failure is cited around 80% not least because it goes against the very ethos of our centuries old banking systems and the banksters don't like that. 68% of that statistic is made up Title: Re: Do you sometimes think Bitcoin will fail? Post by: Nerazzura on July 08, 2014, 01:27:21 PM I am normally optimistic, but not in a good mood right now. not at all, though I heard a lot about bitcoin bitcoin as rejected, bitcoin will be removed or bitcoin prices will be falling. however, the fact remains running bitcoin and demand more and more. if bitcoin will disappear, it takes a very long time.BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: Erdogan on July 08, 2014, 04:02:57 PM Bit coin is more likely to fail than succeed. The probability of failure is cited around 80% not least because it goes against the very ethos of our centuries old banking systems and the banksters don't like that. Not taking responsibility for that number. Not adding an argument. Not even spelling bitcoin right. Yeah, what a guy to listen to. Title: Re: Do you sometimes think Bitcoin will fail? Post by: Skele on July 08, 2014, 04:10:06 PM There are lots of bad stories, bad news, scamms and felony around Bitcoin, but it will stay still, it always does...
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Harley997 on July 08, 2014, 04:20:15 PM I am normally optimistic, but not in a good mood right now. not at all, though I heard a lot about bitcoin bitcoin as rejected, bitcoin will be removed or bitcoin prices will be falling. however, the fact remains running bitcoin and demand more and more. if bitcoin will disappear, it takes a very long time.BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... Do you sometimes think Bitcoin will fail? Please be honest, that's all. Edit: Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!! :o Title: Re: Do you sometimes think Bitcoin will fail? Post by: Bogleg on July 08, 2014, 04:22:30 PM Having doubt is good.
Can developer make improvement to make bitcoin better? Title: Re: Do you sometimes think Bitcoin will fail? Post by: bitgeek on July 08, 2014, 04:52:30 PM Nope I never feel this way. Bitcoin will eventually evolve into something better, just like windows 7 doesn't resemble DOS. When it comes to bitcoin we are still in the DOS stage.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Minecache on July 08, 2014, 04:54:40 PM Bit coin is more likely to fail than succeed. The probability of failure is cited around 80% not least because it goes against the very ethos of our centuries old banking systems and the banksters don't like that. Not taking responsibility for that number. Not adding an argument. Not even spelling bitcoin right. Yeah, what a guy to listen to. I've got some skin in the game so know what I am talking about. I'm just more realistic than you as to bit coins chances against the established banksters rigged systems. Title: Re: Do you sometimes think Bitcoin will fail? Post by: PolarPoint on July 08, 2014, 05:02:53 PM I have doubts about bitcoin at times to be honest. Great things sometimes do not work out. There is a lot of big investors' money pouring into the ecosystem, the chance of a bitcoin fallout is diminishing. If bitcoin did fail, it is no fault of bitcoin itself, but governments and banks.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Nerazzura on July 10, 2014, 04:36:49 AM Having doubt is good. The easiest way to help is to donate some bitcoin Bitcoin Foundation. Or you can help fund any projects related to Bitcoin that you believe will benefit our future. Can developer make improvement to make bitcoin better? Organisasi Bitcoin Foundation and many other non-profit organization dedicated to maintaining and promoting Bitcoin. You can help these organizations with a way to join them and participate in projects, events, and their discussion. Title: Re: Do you sometimes think Bitcoin will fail? Post by: californiaquail on July 10, 2014, 08:15:45 AM Pardon my stupidness but once every bitcon has been mined, who is going to take care of the validation process since there will be no more reward ?
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Qsquegg on July 10, 2014, 08:36:02 AM Pardon my stupidness but once every bitcon has been mined, who is going to take care of the validation process since there will be no more reward ? I guess then people will need to attach an appropriate fee to the TX (whatever appropriate means) and validation will continue as before. So using bitcoin's never going to be free, and maybe once mining's over with, that cost will jump a little.. still, it'll be cheaper than an international credit card transaction by a long way, that's for sure. Title: Re: Do you sometimes think Bitcoin will fail? Post by: sublime5447 on July 11, 2014, 05:29:43 AM It will fail and if it succeeds it will be a failure in my mind because it works of the scarcity model and widespread adoption would mean replacing one centrally controlled system with another. Bitcoin decentralization is a myth, any scarce item is a controlled and centralized item.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: johnathan32 on July 11, 2014, 09:56:40 AM For my selfishness, bitcoin already is a success. I've already received a good ROI, so even if bitcoin goes to 0 in a month I'll be way better than before, anything more is a success for me. But I personally doubt bitcoin will fail in the long run. Maybe replaced by something better. Bitcoin is p2p, so not easily banned, and the blockchain tech is really a innovation. There have been so many things that when they appered no one would say that they would go much far away, and they ended up conquering the world. Why not bitcoin? I think its good stay anyway, if it fails(not to happen soon) you can get good ROI, if it success you might be the next Bill Gates. Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah... What's wrong with gambling and porn? They have been here way before bitcoin, and I think that 99% of people from gambling and porn industry don't even know what bitcoin is. Also the closest porn thin I've seen in the bitcoin world are cam girls that accept bitcoin. drugs: the drug money is mostly cash and fiat. Addicted people have thei brain too damaged to learn something relatively complex like bitcoin, and the druglords sometimes are poor people without access to education and computer. For me the cash money is way more drug-related than bitcoin, even in the best case scenario of adoption. About 50% of money paper has traces of cocaine, when they arrested that big Mexican cartel guy they found a billion in cash, not in bitcoins, at least 25% of Wall Street money has relation with drug money laundering, and so on. 51% attack: would be too expensive, and with limited concrete effect, except the big crash in price that would happen. Also anyone with so much hash power would be making a huge profit, so it would be like burn a stack of $100 and all your future incomes, like Joker did in Batman the Dark Knight. I think no one rational enough to get at that point would be stupid to do such thing. Even if he's against bitcoin, there are more discrete and effective ways to hurt it in the long run while taking profit. Plus the CS already made miracles with software and algorithms, so it is possible that when bitcoin skyrockets, or after a 51% attack, these issues would disappear. CP: when they say about that, they think more about deep web and tor, not about bitcoin. I think you're right, Bitcoin can be currently down and will cost a bit because a lot of things that affect him, but the long-term concept of Bitcoin will spread over the world and he will succeed Title: Re: Do you sometimes think Bitcoin will fail? Post by: wordman267645 on August 23, 2014, 07:37:23 AM Yes i feel sometimes bad happening just like lost at the last moment.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Mightycoin on August 23, 2014, 08:10:14 AM Bitcoin will possibly never fail in next few years, maybe crash after a decade..who knows :o
Title: Re: Do you sometimes think Bitcoin will fail? Post by: oceans on August 23, 2014, 02:15:19 PM I believe with anything like bitcoin that thought that it may fail with it still being so early on for it will always be in the back of your mind but having the faith and believing that it may succeed makes that easier. Who knows maybe it will fail in time or we could all be proved wrong and it could become a huge success with many many more people using it.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: BitcoinBarrel on August 23, 2014, 02:19:53 PM Pardon my stupidness but once every bitcon has been mined, who is going to take care of the validation process since there will be no more reward ? I guess then people will need to attach an appropriate fee to the TX (whatever appropriate means) and validation will continue as before. So using bitcoin's never going to be free, and maybe once mining's over with, that cost will jump a little.. still, it'll be cheaper than an international credit card transaction by a long way, that's for sure. Yes once 21 million bitcoins are created, miners will receive transaction fees solely as their reward. This will cause an increase in value in my opinion since the supply will be limited. Title: Re: Do you sometimes think Bitcoin will fail? Post by: CreamyPie on August 23, 2014, 02:55:43 PM Bitcoin will fail after lot of years, probably in 50 years. Currently its the dominating one.
Long live BTC Title: Re: Do you sometimes think Bitcoin will fail? Post by: botany on August 23, 2014, 03:29:33 PM Sometimes? Some people think it is destined to....
http://www.coindesk.com/middle-east-investment-bank-bitcoin-ignite-regional-e-commerce/ “Investors however should conduct their own due diligence in ventures before investing as they are risky investments. Bitcoin, still being in an experimental phase, has an 80% probability of going to zero, as the value of bitcoin is basically driven by people’s acceptance.” Title: Re: Do you sometimes think Bitcoin will fail? Post by: Daniel007 on August 23, 2014, 03:34:17 PM What do you want to mean by fall? If you want to mean that Bitcoin will vanished some day, then i don't agree with you.
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Beliathon on August 23, 2014, 03:40:31 PM Bitcoin, still being in an experimental phase, has an 80% probability of going to zero, as the value of bitcoin is basically driven by people’s acceptance.”[/i] Anus-derived statistics 101.Title: Re: Do you sometimes think Bitcoin will fail? Post by: botany on August 23, 2014, 03:43:54 PM What do you want to mean by fall? If you want to mean that Bitcoin will vanished some day, then i don't agree with you. I guess if interest wanes and it becomes easy to launch a 51% attack, it would be considered a failure. Title: Re: Do you sometimes think Bitcoin will fail? Post by: bornil267645 on August 23, 2014, 04:15:30 PM The more controversy it faces the more it makes me think that somewhere down the line it's gonna stick. So no, I don't believe that it will fail. 8) 8)
Title: Re: Do you sometimes think Bitcoin will fail? Post by: Cream on August 23, 2014, 04:25:11 PM It wont fail unless govt plans to bring it down, or some serious competitor..
Title: Re: Do you sometimes think Bitcoin will fail? Post by: jwilford on November 21, 2014, 10:08:17 PM There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail. There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg. Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin. This industry (http://nature.berkeley.edu/er100/readings/Nef_1977.pdf) had plenty of money invested and literally worked themselves out of a job because they did not consider the external costs of their actions. This is going to be the same as BTCitcoin the industry will mine itself to death and fail. But I think just like the 16th century energy market that people will never look back and this will lead to a currency/internet/blockchain revolution. But I do not think that Bitcoin will be the end all be all. To be honest I don't think it has much life left. I am just hoping it can last long enough to expand crypto adoption. I am selling out and moving on to NODE since I think the better network topology of PoA is more sustainable but who knows something better may come along or NODE may fold up due to marketing or development shortcomings. I don't see this as a failure for Bitcoin it had it's role to play but I think that time has come and is going. A nostalgic part of me hopes I am wrong but the economics and history say otherwise. Time will tell. Title: Re: Do you sometimes think Bitcoin will fail? Post by: philiveyjr on November 24, 2014, 07:39:43 PM Im not scared about BTC at all.!! All those weakness can be solved without much problem..n Bad rep in media is something that will change with time..! I can feel that good times r ahead for BTC users..!! Cheers!! :)
Title: Re: Do you sometimes think Bitcoin will fail? Post by: jubalix on November 25, 2014, 12:31:31 PM There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail. There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg. Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin. This industry (http://nature.berkeley.edu/er100/readings/Nef_1977.pdf) had plenty of money invested and literally worked themselves out of a job because they did not consider the external costs of their actions. This is going to be the same as BTCitcoin the industry will mine itself to death and fail. But I think just like the 16th century energy market that people will never look back and this will lead to a currency/internet/blockchain revolution. But I do not think that Bitcoin will be the end all be all. To be honest I don't think it has much life left. I am just hoping it can last long enough to expand crypto adoption. I am selling out and moving on to NODE since I think the better network topology of PoA is more sustainable but who knows something better may come along or NODE may fold up due to marketing or development shortcomings. I don't see this as a failure for Bitcoin it had it's role to play but I think that time has come and is going. A nostalgic part of me hopes I am wrong but the economics and history say otherwise. Time will tell. bitcoin will fork before it fails, but in doing so may hand it crown to a contender. |
