Bitcoin Forum

"Virtual currency is the future, there's no doubt about that"

Bitcoin is just a step along the way according to them.

They discuss where bitcoin may have gone wrong (quite interesting actually) :

http://www.youtube.com/watch?v=GYJdOiLqSxE

Bitcoin is still over 90% of the market cap for all crypto-currencies... let's start the discussion again when it's below 80%.

Interesting that he is hyper bullish on crypto currencies.

The "get rich kids" are propping up the price he says lol.

Damned kids and their getting rich...

He is right about businesses not holding them on their books.

There is just not any software that makes it easy for a business to hold bitcoins unless it is a small business where one person can control the money.

We need multi sig software that allows a department to have funds which trickle down to an employee being able to pay for things that they currently pay for by writing a check or getting permission from their boss to pay for. It simply does not exist.

"Get off my lawn you get rich quick kids!"

Can we take that as a buy signal?

when big media starts fudding that means we are headed to the moon guys. Buckle up

Very interesting information.

+1

Because right now BTC is almost useless for any mid to large sized business unless its automated payment for goods which is instantly
transferred to fiat.

Who are those twins that he is talking about them ? :o how the hell do they own 1% of bitcoins

Real Richie Rich story in this World  ;D
Ok Kids , buy again and alot please hahahaha.
I wonder how many BTC their parents have ? Like father like sons.

Winklevii

LOL.
You crack me up...

The voss'...true businessman.
Cornered 1 percent of btc; amazing accomplishment.

I think that we need an entire new way of working that fits in with the decentralised nature of Bitcoin - CIYAM Open is a vision for this (with Project Managers who pay Contributors to deliver Project Tasks and where there is no formal "job" at all).

I had read an article by a "futurist" around the same time I was learning about Bitcoin who thinks that "in the future people won't have jobs" but will contribute their skills to many different projects as small paid tasks.

I've been hearing about "buy signals" whole year.

Every day I read bitcoin news it feel like I should buy more, then I look at the charts and think "wtf is going on?!"

People that understand Bitcoin are already "in".  We have to wait until the next big wave.
But when it comes, it might be huge and sudden.  That's why you just have to hold
and be patient. 

hahaha so much this ^^ .

Bitcoin was in a bubble multiple times, mostly due to the ignorance of the masses.

The media said the same 25 yrs ago about the internet just a phase being used and hyped by speculaters

He is right... old man gets it, retards here dont

"it is not going to take over the world"   

"There is no there there" 

"more people in kuwait frequent fliers club"

Greedy tech kids. 

That "futurist" may not have been far off the mark.  That is essentially my sole source of income and has been for the past eight years, though I tend to contribute a bit more toward the projects I work on than would be described as small, paid tasks.  However, I'm certainly not opposed to taking the small, paid tasks as well as they suit my interests.  I've found that I have more success, more freedom and just generally more satisfaction in life since I've given up the wage donkey lifestyle.  There's also the added benefit of being able to choose which jobs I do and don't want to do.  I strongly encourage anyone who is highly self-motivated to give it a try.  It can be difficult in the beginning but the potential rewards are well worth it.  What's the worst that can happen?  You fail and have to go back to having someone else tell you what to do.  In short, take risks and love what you do.

My motto "you must speculate to accumulate" and you will never do that with an employer

Jeffrey Robinson's view is not very credible given that he also states that "virtual currency is the future".

If that's the case then where's the competitor. Where is this "future" virtual currency that's going to displace Bitcoin ? The truth is that it only exists Jeffrey Robinson's imagination.

To have the least bit of credibility, that "future competitor" would at least have to endure the "rights of passage" period that Bitcoin has - 5 years of being kicked to death by the media, hacked to kingdom come, punctured by collapsed exchanges - and still come out smelling of roses.

Then there's the "adoption infrastructure" period. Just have a look at the weekly lineup of technologies, businesses, exchanges, derivative services, security services and wallet services documented daily by http://www.thebitcoinchannel.com.

From a technological point of view, we've already had a couple of years of battering by a flotilla of alts - in many cases deploying far more advanced tech than Bitcoin. None of them ever made a dent in its market cap.

Where is Jeffrey Robinson's imaginary competitor going to get it's imaginary hashpower from to compete with the Bitcoin network. How is all this hashpower going to be convinced to switch to Jeffrey Robinson's imaginary, untested, "no rights of passage" alt coin ?

https://blockchain.info/charts/hash-rate?timespan=all

The ease with which he dismisses Bitcoin as conspicuous as his alternative's absence. Maybe he thinks that Microsoft, IBM, the US FED or Amazon are going to suddenly deliver the "saviour" that the public will be happy to adopt. If that's the case then he doesn't understand blockchain technology or how it garners trust by its users.

Sorry, but this guy has not remotely made the case for Bitcoin "not being the future". Heard it all before with the web, email & you name it. Make no mistake about it, Bitcoin is here to stay. It is the Apache web server of money.

First of all I will apoligise for anyone who lost money there,but the greatest thing that happened to Bitcoin was the collapse of Mt Gox if bitcoin can survive that it shows its no pie in the sky.

Be careful. Using analogies like that outside the forums will just get you stuffed in your locker with a wedgie.  ;D

I only hope that Twins to disappoint and sell their bitcoins asap to buy them cheap the rest of us :D. Yes we are the lunatic anarchist cult that we dream about a free open world without a bank elit.

Well the fall of price isn't helping and theft :/ in alot markets

Bitcoin hasn't gone wrong. At least, not yet anyway.

Ah CNN.. tabloid level journalism..

Patience is the main thing. At this time, BTC is still producing an exorbitant number of coins every day. These coins (25x6x24) need to be bought each and every day  at current rates or higher, just to maintain price. Even with BTC growth, that is a tall order.
Bitcoin is still at a very early stage in the game. If we can hold out until one more halving, we should we a steady increase proportional to the decrease we're currently experiencing.
Now is a great time to amass as many BTC as possible at these necessary lower rates. After the next halving, it will never be possible again. 

God that was painful, unbearable to watch that video, as with CNN in general. Things like mainstream media are reasons why I don't watch the idiot box anymore. Stupid old men talking about bitcoins. He praises the blockchain because everyone else does, yet bashes bitcoin because...

There is so much gluttony and ignorance.

I disagree, hes basically just trying to make "freelancing" sound futuristic and cool - freelancing has been around and growing for a decade or more, but its not going to take over - maintream people cant do it, dont like the stress of it.... they NEED to work for someone else solidly and permanently... I'm more "freelance style" myself.. but its not for everyone and I dont think it ever will be.

THEN: May 28th, 2014

BTC to break $2,000 mark by Christmas – Experts

http://cointelegraph.com/news/111597/btc_to_break_2_000_mark_by_christmas_experts

So, you can just imagine the staggering overinvestment  NOW in bitcoin mining.

Maybe the market is just trying to get rid of overcapacity.

A few big bankruptcies in the coming months would probably do wonders.

Maybe so - but we didn't have nearly the number of people doing freelancing 20 years ago (the internet itself has made doing such work a lot more viable) so I do think it is a growing trend (but agreed that it is still far from being a *mainstream* approach to work).

I really hope that $2k mark will be reached after christmas

I´m very interested in quantity so I hope it just muddles through for the next 1-2 years, maybe in the 250-400 range or so.

Bitcoin itself I dont think has gone wrong- and I will probably get a lot of flack here- but IMO the users are killing the currency.

Why? Because people who genuinely want to deal with bit-coins for their business get spat on and frowned at by the bitcoin community until they basically give up. I tried to sell a house last year for a client in bitcoin on the bitcoin talk forum- the moment I listed it had 'scammmm!' screaming from the rafters. So I just sold it on ebay to someone instead. Then the Bitcoins skyrocketed- So I thought why not try again. I was 'lolled' out of the forum being told that now bitcoins were far to valuable for the likes of property purchases.......so the bitcoins took a massive crash, I decided to give it a final push and accept bitcoin on my property purchases one last time, and there isn't even a hint of interest in the forums whatsoever. Did the bitcoin community kill itself with it's Arty zim level of smugness or something? From the outside looking in, it seems bitcoin is like that mythical girl who is so smoking hot, that she never thinks any guy is good enough until one day she is old ugly and realises she is going to die alone.....if you guys won't allow businesses to come into your community and start trying to actually deal with your currency for real world items then the only thing bitcoin is going to attract is scam artists. Sorry if I get a load of Neg replies on this but thats how it seems, and I'm waiting to be proved wrong.

Totally unregulated and scam-ridden marketplace.

What´s not to like for business and consumers.

Damn rich kids
http://www.thesundaytimes.co.uk/sto/multimedia/dynamic/00383/STN1001RICH_383817k.jpg

Honestly, I didn't mind the video.

It did make a few fair points, (about the number of pumpers/fanatics of the cryptocurrency). But I still think bitcoin will remain number 1 for years to come.

What a foul smelling appendage. Straight to ignore.

"The lunatic delusional" ... bla bla bla very strong ad hominem there.

I debunked some of his arguments here

https://bitcointalk.org/index.php?topic=843040.msg9404730#msg9404730

How does he think a currency like this spreads? Overnight, billions of people use it? That's not how things happen.

The competitor won't have pumpers or won't have value? Tell me something that goes up in value quick without having pumpers. There's lunatics everywhere. Actually I think Bitcoin has the most amount of economically sane people of any community I've ever been subjected to.

How much has Jeffrey Robinson put his money where is mouth is what I wonder. He should be asked about how many shorts be bought since he's so sure it will fail.

Not doing everything to make paypal join them.

He is just a dude selling a book, so it has to be controversial or he gets no play.  I find it offensive there was no educated rebuttal to his findings going on there.  Just a 'greedy, delusional lunatic' Republican (most likely) trying to hock his wares while the supposedly non-biased host sits there and snickers over his silly comparisons in complete agreement at the expense of a fledgling currency that has seen no real traction to this day.  Why doesn't he compare it to time tested gold in the future?  Nice hatchet job CNN.  Bastion of journalism my rear, I see the same methods on the HSN.

People should light up this fool on Amazon/BaN reviews.....just sayin'.  ;)

Agreed-
http://www.amazon.com/BitCon-Naked-Truth-About-Bitcoin-ebook/product-reviews/B00NUIUQ3A/ref=cm_cr_dp_qt_hist_one?ie=UTF8&filterBy=addOneStar&showViewpoints=0

Let the public know what a fraud this guy is and why he is wrong.

Don't look for the signals to buy into Bitcoin, instead pay attention to the signals to divest from fiat, because those are abundant.

You young whippersnappers! Get those bitcoins off my lawn!

Its really mean that Bitcoin is being moved through the world and take a significative place in our system!

Well the main issue with freelance work is that, for most people it is not going to be steady work, the amount of work available is almost never going to be steady, and you are very vulnerable to variations in the health of the economy; this is very similar to being self employed, however you do not quite have the same upside

Freelancing is enjoyable if you have a specialized skill and people are willing to pay you highly for it. You can spend the time between jobs enjoying yourself while looking for the next gig. If your skill is less specialized it may still work out for you if you live below your means. However, if you only have commodity skills you should not consider it.

he makes decent points but what he fails to recognize are two major things imo. first he doesn't talk about or realize that any new/novel currency has to start somewhere and transition into a weak middle ground. even if there are only 250k active wallets to get to 1bn active wallets you have to pass through 250k first. secondly, he says bitcoin will fail because the lunatics think it will take over the whole planet. no it probably wont. a better comparison is what e-mail did to the current mail system though that is still a flawed way of looking at the picture but much better. it can work great alongside the current system and still have a massive widespread adoption.

id love to hear his rebuttal to these or just discuss this issue with me for a few minutes.

Buying a house is still considered too risky with bitcoin. From risk management point of view, you net worth must be 5-10 houses to spend some coin to buy 1 house, so that you risk exposure is not too high. There is no real good insurance for large bitcoin purchase, if the coins are gone and you deny the trade, there is no way to protect the buyer

is this a jokes?

Fact is we all know what went wrong but problem here we are short of solution

Nothing wrong so far...

Actually, if you ignore Litecoin (it's not a really a huge competitor to Bitcoin. It might be "silver" to the "gold", but have 0 chance to overtake bitcoin ofc), the next largest cryptocurrency (bitsharesX) have 0.07% of the market cap of BTC.

Yeah.. there is not really much competition out there right now.

Then someone will say over here that bitcoin adoption is the solution where in fact bitcoin adoption is the main problem

The instant that dude said Bitcoin is "pretend money" and we're all "delusional lunatics", my brain started phasing his words out.

If I could actually transact with "pretend money", doesn't that make it real?  Am I delusional if that product I buy or the good or services I sell with Bitcoin, actually go through.

Guess he has to sell books somehow...

This and also him saying virtual currency. he kinda shows a lack of depth of overall thinking in life the way he talks. still though, he brought up some points just not entirely valid as i stated a few posts up.

This reminds me big things are on the horizon for Bitcoin. If nobody was saying anything about Bitcoin or everyone was in agreement about its potential that's when I'd be worried.

1994: "Today": "What is the Internet, Anyway?" (https://www.youtube.com/watch?v=JUs7iG1mNjI)

To get something to make it's mark. it needs to be criticized with lot of evaluation. That it will evolve certainly take it's rightful place. 8)

I'd have to go with this, lol.   8)

Seems like CNNMoney supports the dollar.

Bitcoin worth 328 dollars. lol

Yes Bitcoin so went wrong  :D

Down from 1200 and falling.

Did I hear 2k per bitcoin.. That would be lovely lol

The incredibly paltry volume persists.

Let´s hope it improves in the new year.

That guy is going to feel like the worlds biggest idiot in a few weeks.

He is going to have to shave his head and grow a beard

mark my words

Sure hope so  :-\

So, what is it with this nano-volume? I mean, Facebook stock alone in 6 1/2 hours turns over about 100x more in dollar terms. The forex market, 5 Trillion dollars in a day.

Obviously with such a thin trade this puppy has been a darling of short sellers all year.

It won´t go anywhere until big money investors bring in volume.

And they´re not interested in a totally unregulated and scam ridden
marketplace with a shaky infrastructure and exchanges with different
shades of sleaziness.

To feel safe with your funds on those so called exchanges
you really have to remove them every night. Just in case
the exchange gets "hacked" (the most popular fairy tale
that idiots buy when these things blow up) and your money
disappears.

So, virtual currencies are the future, but the largest, most advanced blockchain by far, Bitcoin, has no future? Bitcoin is still very young, and will never be "finished". It just keeps getting bigger and better.

Does not compute.

And he kept saying "pretend currency" which is a pretty big fallacy when you consider the Federal Reserve up until recently was creating their own actual pretend money ad nauseum to prop up a broken economic system captained by financial tyrants. Bitcoin cannot be duplicated this way, which makes it more real to me than the Dollar is. Computer enforced scarcity ensures this.

Move along, nothing to see here.

Yeah, yeah the death of the dollar is right around the corner

the 30th year in a row.

You mean the former reserve currency being replaced by RMB?

Another 2-3% and the greenback is right at the tops of 2009 and 2010.

I doubt it´ll go much further.

The DJIA is the flagship of the stock market and the stronger the dollar
gets the fewer dollars those multinationals get to book as revenue and
profits back home. So, it´ll probably sag soon in time for the year end books.

I would doubt that China would ever have a world reserve currency as they are a net exporter by a large margin, meaning that other countries will have little reason to have large amounts of RMB as China is a natural buyer of foreign currencies

People could ask the same question. Where did CNN go wrong?

"Trustworthy, honest news source:  Where did CNN go wrong?"

From another biased point of view though.. CNN and cointelegraph are extremely biased. We need a news source that is completely unbiased now!

Yeah, the problem with the "buy signals" you've been hearing is that they aren't based in any fact...just opinion. IF I, as a stranger to you, said "buy Coca Cola stock now!" would you do it? No.

I agree there is a future for BTC but the best way we can promote it is by discussion with those that don't use it and supporting, sharing the media attention. Share articles through Twitter, Facebook, Linkedin, etc.

Increased awareness will bring increased adoption.

Exactement.

I am sorry to tell you that there is no such thing. If you look at the CNN articles regarding some political issue that allows comments, the top comment (based on votes) will almost always contain something about CNN being biased and not reporting the whole story.

The same is true for most other MSM sites

> Jeffrey Robinson is an American author of 29 books. He has been described by the British Bankers' Association as "the world's leading financial crime author". Wikipedia.

After decades of thinking this way how else could such a person view Bitcoin? He builds a framework according to his cosmos, finds selective stats, quotes, and events to flesh it out, and voila! yet another financial crime book.

If you read the cointelegraph story you´ll see the price predictions of those experts. They´re just being quoted.

I think my family rob me.