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Title: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 03:56:56 PM People lost their faith in Bitcoin. The rise of competing altcoins (https://bitcointalk.org/index.php?topic=193445.msg2034882#msg2034882), govt regulation, shutdowns of exchanges, frozen bank accounts, recent crashes called "fluctuations", black PR. More than 4 years have passed since the launch and Bitcoin is still far from world-wide adoption. In our fast-paced world 4 years is too much time. Those who familiar with Bitcoin see other worrying indications - price manipulation, inability of core devs to solve technical issues related to scalability (https://bitcointalk.org/index.php?topic=193445.msg2039853#msg2039853), centralization, successful attempts of some persons to regulate Bitcoin. For me it's obvious now that The End Is Near. Bitcoin failed, time to move on...
Title: Re: The End Is Near Post by: dontek on May 02, 2013, 03:58:00 PM Could you just go ahead and send me all of yours then? They're not worth anything anyways.
Title: Re: The End Is Near Post by: freequant on May 02, 2013, 03:59:09 PM Good bye. How much do you sell your Bitcointalk account?
Title: Re: The End Is Near Post by: turdhole on May 02, 2013, 04:00:23 PM i'll bail ya out ;)
Title: Re: The End Is Near Post by: papaminer on May 02, 2013, 04:00:45 PM lol
bye bye... i hope not to see you here anymore... :) on the other side of BTC.... IT ONLY HAS BEGUN!!! Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:01:28 PM Could you just go ahead and send me all of yours then? They're not worth anything anyways. Cashed out, sorry, u r too late. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:02:34 PM Good bye. How much do you sell your Bitcointalk account? I don't sell it. I'm going to keep in touch with altcoins. One of them should reach the goal of Bitcoin. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:03:32 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. Title: Re: The End Is Near Post by: empoweoqwj on May 02, 2013, 04:05:15 PM Like any of the other altcoins won't face the same challenge. haven't seen such a bs post in a long-time. Sounds like another LTC troll. There are so many of them, must be hoards of them.
Title: Re: The End Is Near Post by: tutkarz on May 02, 2013, 04:06:07 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. It doesnt even moved from beta yet ... Title: Re: The End Is Near Post by: RodeoX on May 02, 2013, 04:06:36 PM I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise.
Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:08:16 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. It doesnt even moved from beta yet ... See? No progress at all. Title: Re: The End Is Near Post by: empoweoqwj on May 02, 2013, 04:08:45 PM I apologize, not an LTC troll. A "Qubic" troll, whatever the f*** that is. Good luck with your altcoin that nobody will ever hear of.
Title: Re: The End Is Near Post by: jackofspades on May 02, 2013, 04:10:02 PM It took humans thousands of years to realize bartering wasn't the most efficient way of conducting transactions. More exchanges will open up very soon and gox will not have the strangle hold it has now. People don't need to accept it as payment but if an organization started accepting donations (who doesn't want a free donation?!) then it will catch in quicker. Because of the 'stability' now people will start spending them now which is probably the best thing for it. Crypto>fiat end of story
Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:11:48 PM It took humans thousands of years to realize bartering wasn't the most efficient way of conducting transactions. More exchanges will open up very soon and gox will not have the strangle hold it has now. People don't need to accept it as payment but if an organization started accepting donations (who doesn't want a free donation?!) then it will catch in quicker. Because of the 'stability' now people will start spending them now which is probably the best thing for it. We don't need more exchanges, we need more shops/services. Crypto>fiat end of story Agree. Title: Re: The End Is Near Post by: dmatthewstewart on May 02, 2013, 04:13:06 PM I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise. Second. And well said. +1 Could everyone else spare an extra internet for RodeoX? Title: Re: The End Is Near Post by: wachtwoord on May 02, 2013, 04:14:08 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. 4 years is nothing, are you 12 by any chance? http://www.youtube.com/watch?v=7miRCLeFSJo Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:15:06 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. 4 years is nothing, are you 12 by any chance? http://www.youtube.com/watch?v=7miRCLeFSJo No, 33. Title: Re: The End Is Near Post by: tutkarz on May 02, 2013, 04:16:50 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. 4 years is nothing, are you 12 by any chance? http://www.youtube.com/watch?v=7miRCLeFSJo No, 33. games are made in 1-4 years and you would like global currency to fall from the tree? Title: Re: The End Is Near Post by: QuantPlus on May 02, 2013, 04:17:47 PM It took humans thousands of years to realize bartering wasn't the most efficient way of conducting transactions. More exchanges will open up very soon and gox will not have the strangle hold it has now. People don't need to accept it as payment but if an organization started accepting donations (who doesn't want a free donation?!) then it will catch in quicker. Because of the 'stability' now people will start spending them now which is probably the best thing for it. We don't need more exchanges, we need more shops/services. Crypto>fiat end of story Agree. The central problem is one (1) Monopoly exchange... Supplemented by a gaggle of dwarf exchanges... That are all working really hard to SUCK millions out of the BTC universe. Without a diversified exchange space with 100s of players... What on earth do people think "shops" will do with their BTC... Are "shopkeepers" going to feed Bitcoins to their kids? That said, you have to be optimistic about anything... Anything... that has rocketed to $1 billion market cap... Supported by a radical, obsessive, committed Cult. Title: Re: The End Is Near Post by: RodeoX on May 02, 2013, 04:20:42 PM I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise. Second. And well said. +1 Could everyone else spare an extra internet for RodeoX? Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:23:12 PM games are made in 1-4 years and you would like global currency to fall from the tree? Such an idea as Bitcoin appears once a millenium. Bitcoin lost its chance, now time for its descendants. Title: Re: The End Is Near Post by: empoweoqwj on May 02, 2013, 04:26:51 PM games are made in 1-4 years and you would like global currency to fall from the tree? Such an idea as Bitcoin appears once a millenium. Bitcoin lost its chance, now time for its descendants. you are deluded, plain and simple. The bitcoin experiment is going amazingly well. You just don't like it because your own altcoin will never see the light of day. Your forum only has about 3 people on it. Deal with your failed experiment instead of declaring an amazingly successful one dead. Sour grapes for dinner anyone. Title: Re: The End Is Near Post by: Amph on May 02, 2013, 04:35:55 PM send here than
1JdTAUtCuraV9Vy19gnhnutGLs4J9Pa7Jf Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 04:39:44 PM send here than 1JdTAUtCuraV9Vy19gnhnutGLs4J9Pa7Jf Already sold for U.S. dollars, sorry. Title: Re: The End Is Near Post by: Peter Lambert on May 02, 2013, 05:03:40 PM People lost their faith in Bitcoin. ... For me it's obvious now that The End Is Near. Bitcoin failed, time to move on... What people? Does bitcoin care? Before you say bitcoin has failed, first you must define what a success would be for bitcoin. To me, a successful bitcoin has the network running securely, confirming transactions in a timely manner, allowing me to send value across the globe or store value securely until I need it later. We have achieved a small amount of success, but there is still room for improvement. Right now I can store value as bitcoins, and I can send those bitcoins, but these features are still limited. To be massively successful, bitcoin will have to gain these things: 1 - There should be worldwide consensus that bitcoins hold value. This is just a matter of the vast majority of the world acknowledging the existence of bitcoins, and that they do in fact represent value. Not everybody has to own or use bitcoin, just that when you mention you want to pay using bitcoins they understand what you mean and have some way to receive the payment. 2 - Good exchanges should exist for all localities. Local laws and monetary conventions are different all around the world, so each locality needs to have an exchange that conforms to their own rule-set. Bitcoin will function best when there is a way for anybody in the world to move from bitcoin to their local currency (or the other way around) without much trouble. 3 - The value of bitcoins should be stable. Putting money into bitcoins should be regarded as simple saving of value for the future, not as an investment (something like gold is used today as a way to save without being subject to inflation, hypothetically). Changes in the USD/BTC rate will reflect how well or poorly the USD is doing, and not how much attention BTC has gotten in the news. In conclusion, the network is still running and there are people who are willing to exchange btc for something somewhere, so bitcoin has not failed yet. I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise. EDIT: Added the color just for you :D Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 05:12:02 PM People lost their faith in Bitcoin. ... For me it's obvious now that The End Is Near. Bitcoin failed, time to move on... What people? Does bitcoin care? Before you say bitcoin has failed, first you must define what a success would be for bitcoin. To me, a successful bitcoin has the network running securely, confirming transactions in a timely manner, allowing me to send value across the globe or store value securely until I need it later. We have achieved a small amount of success, but there is still room for improvement. Right now I can store value as bitcoins, and I can send those bitcoins, but these features are still limited. To be massively successful, bitcoin will have to gain these things: 1 - There should be worldwide consensus that bitcoins hold value. This is just a matter of the vast majority of the world acknowledging the existence of bitcoins, and that they do in fact represent value. Not everybody has to own or use bitcoin, just that when you mention you want to pay using bitcoins they understand what you mean and have some way to receive the payment. 2 - Good exchanges should exist for all localities. Local laws and monetary conventions are different all around the world, so each locality needs to have an exchange that conforms to their own rule-set. Bitcoin will function best when there is a way for anybody in the world to move from bitcoin to their local currency (or the other way around) without much trouble. 3 - The value of bitcoins should be stable. Putting money into bitcoins should be regarded as simple saving of value for the future, not as an investment (something like gold is used today as a way to save without being subject to inflation, hypothetically). Changes in the USD/BTC rate will reflect how well or poorly the USD is doing, and not how much attention BTC has gotten in the news. In conclusion, the network is still running and there are people who are willing to exchange btc for something somewhere, so bitcoin has not failed yet. I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise. EDIT: Added the color just for you :D Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme. For me success is measured by ability to buy something except fiat money. Title: Re: The End Is Near Post by: Peter Lambert on May 02, 2013, 05:21:09 PM Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme. For me success is measured by ability to buy something except fiat money. So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 05:27:47 PM Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme. For me success is measured by ability to buy something except fiat money. So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? No, for me, failure is when there is no or little progress during a long period of time. I live in the capital of a small European country, but I haven't seen "pay with bitcoin" there. Also, in ur post u didn't address technical issues. They seem to be unresolvable. Title: Re: The End Is Near Post by: Peter Lambert on May 02, 2013, 05:31:14 PM Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme. For me success is measured by ability to buy something except fiat money. So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? No, for me, failure is when there is no or little progress during a long period of time. I live in the capital of a small European country, but I haven't seen "pay with bitcoin" there. Also, in ur post u didn't address technical issues. They seem to be unresolvable. What technical issues? Title: Re: The End Is Near Post by: papaminer on May 02, 2013, 05:31:57 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. 4 years is nothing, are you 12 by any chance? http://www.youtube.com/watch?v=7miRCLeFSJo No, 33. ROME WAS NOT MADE IN 1DAY... SO DID PAPER MONEY... but guess what... paper money can't travel in the internet which is our latest technology as of the moment and still growing... the only "THING" traveling through internet is the manipulated numbers by BANKS and all their fees and etc... ONLY BTC CAN TRAVEL ANYWHERE IN THE WORLD WITHOUT ANY MANIPULATION OR HOLD OR ANY SHIIIITY SHIIT.... AND ANY GOV CAN MAKE... Title: Re: The End Is Near Post by: papaminer on May 02, 2013, 05:39:39 PM Can't name the people who lost the faith. It's just my feeling that most of people consider Bitcoin a "become rich fast" scheme. For me success is measured by ability to buy something except fiat money. So, for you, failure is when the people who had been selling things for btc stop taking btc. Do you have any examples of people removing the "pay with bitcoins" option from their websites? No, for me, failure is when there is no or little progress during a long period of time. I live in the capital of a small European country, but I haven't seen "pay with bitcoin" there. Also, in ur post u didn't address technical issues. They seem to be unresolvable. LIKE ALL PLACES IN THE WORLD GOT INTERNET YET? DO A LITTLE FAVOR FOR ME... IS INTERNET STILL GROWING? AT WHAT PERCENTAGE? HOW FAST? I think there are still 5-20% of the earth population who does not know what INTERNET IS... and with 40-80% who are NOT INTERNET SAVVY.... BTW internet is moving from computers alone to... phones... to tvs... to refrigerators... etc... you name it... now imagine if INTERNET/TECH IS 100% being use in earth and everyone is INTERNET/TECH SAVVY... why would anybody use paper money? It may not be in our time but... I can SAY THAT TIME WILL COME WHEN THE ONLY USE OF PAPER IS FOR WIPING OUR BUTTS... after using the toilet... :D so yeah... we still have a long way to go... Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 05:40:20 PM ROME WAS NOT MADE IN 1DAY... SO DID PAPER MONEY... but guess what... paper money can't travel in the internet which is our latest technology as of the moment and still growing... the only "THING" traveling through internet is the manipulated numbers by BANKS and all their fees and etc... ONLY BTC CAN TRAVEL ANYWHERE IN THE WORLD WITHOUT ANY MANIPULATION OR HOLD OR ANY SHIIIITY SHIIT.... AND ANY GOV CAN MAKE... I don't say all cryptocoins failed. Only Bitcoin. Yes, Rome was not made in 1 day. But we r talking about an open-source digital currency. It should be changed 10 times a day, thousands contributors should add hundreds features each day. Unfortunatelly, It doesnt even moved from beta yet ... Something is wrong, isn't it?Title: Re: The End Is Near Post by: zeroday on May 02, 2013, 05:46:42 PM OP is just another "chicken". Bye bye.
I hope soon we will completely get rid of these whining creatures and bitcoin will continue its progress. Title: Re: The End Is Near Post by: Ben Thomas Clayton on May 02, 2013, 05:47:25 PM 4 Years is nothing!
E-books Invented: 1930 Became mass popular: 1992 Microsoft Started: 1975. Became Popular: 1995 Christianity Started: Approx 4 BC Became a world religion: The 16th century Cars First prodused: 1672 Became a World Wide Product: (Not yet) And so on, etcitra, and so forth... In 4 years since the launch? U r kidding. Title: Re: The End Is Near Post by: townf on May 02, 2013, 05:47:33 PM Come from behind is correct. Don't put all your eggs in one basket.
BTC will fail as the single, arch-cryptocurrency. It's got some real problems. All you dang kool-aid drinkers put down the isopropyl alcohol spiked kool-aid for just long enough to use your mind and learn what the flaws are and impartially analyze them already, for crissake. I'm not saying it's a train wreck. But because it is open source, it is bound to be improved upon, itself and by forks. He's not saying cryptocurrency is a failure. Bitcoin succeeds as being the prototype of cryptocurrency, because cryptocurrency will prevail! Think about it. This is the first go round. Others are already proliferating. Some address btc specific flaws, others don't. The markets will decide. I don't think bitcoin is going to come out on top. When it's practically as easy as doing a git clone and changing what you want, posting what you did here, enduring the flaming kool-aid drinkers, and supporting the product, then better (and worse) alternatives are surely going to make themselves available. That's another bitcoin success! I think it will stablize in the future with many different competing and complementary cryptocoins, some for international purposes, some localized geographically used as reserves for notes issued by local banks or governments. Some will store wealth better, like bitcoin, some will spend better and have more velocity, like something like freicoin. Some will only be useful in California, others the world over on the internet. Some will only be pertinent to certain industries, like devcoin is to geeks. Bitcoin fails as the be-all, end-all, only meaningful cryptocurrency, but succeeds wildy in spawning a whole new monetary system. This is just my opinion. Title: Re: The End Is Near Post by: RodeoX on May 02, 2013, 05:52:33 PM Before you say bitcoin has failed, first you must define what a success would be for bitcoin... You make some very red points there. We have a winner! ;DTitle: Re: The End Is Near Post by: BitChick on May 02, 2013, 05:56:07 PM I am very new to BTC. I assume messages were posted like this repeatedly throughout the past few years? We will need to bump this thread in a year or two and laugh when BTC is worth 10X as much as it is today.
Here is my two cents: My husband mentioned BTC to me about a year or so ago. We were hesitant to get involved then because it seemed risky and we were not sure if it would get any traction at all at that time. With the regulations that were mentioned for money laundering in the US we finally bought in thinking it was being taken more seriously. Then it started to sky rocket but of course it has been volatile since then. Personally, I think we are just on the brink of it gaining at lighting speed, even more so than the last big jump. With the conference coming up in May there will be more press around that for sure! Venture Capitalist are working on providing more and better services to make BTC more accessible to the average person. It is just a matter of time. Personally, I am pleased that will all of the drops and price fluctuations, the value seems to still stabilize around $100 or so. If the value stays around $100 then I don't feel any real need to panic. If I sold my BTC I would not really lose much money at this point. In reality, I won't even panic if we lose all the money we have in BTC because I believe the risk is worth it. There are not many opportunities like this so it is riskier not to give it a try! I would be so upset with myself if I did not take a chance on it. What is more depressing, losing a few thousand dollars giving something new a try or realizing that when you had the chance to invest a few thousand that could not be worth a few hundred thousand you did not take that risk? I already learned that with the fact we did not buy a year ago so I know the answer to that. ;) The greatest proof for me that we have just barely scratched the surface on this is that when I talk to my friends and family NO ONE has heard about BTC. We live a pretty technologically advanced area of the US too. Patience people. Patience!!! Title: Re: The End Is Near Post by: wumpus on May 02, 2013, 06:05:26 PM I am very new to BTC. I assume messages were posted like this repeatedly throughout the past few years? We will need to bump this thread in a year or two and laugh when BTC is worth 10X as much as it is today. Indeed, this is the boring standard routine every time the price goes down. I'm sure someone with time on their hands could dig up at least 100 similar threads. At least this one tries to combine it with altcoin pumping. Yawn.Title: Re: The End Is Near Post by: Ivica on May 02, 2013, 06:07:53 PM Can you change topic name to "The end is nigh"?
Kthx. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:10:23 PM 4 Years is nothing! E-books Invented: 1930 Became mass popular: 1992 Microsoft Started: 1975. Became Popular: 1995 Christianity Started: Approx 4 BC Became a world religion: The 16th century Cars First prodused: 1672 Became a World Wide Product: (Not yet) And so on, etcitra, and so forth... iPhone Presented: 2007 Became Popular: 1 year later Android 1.0 Released: 2008 Became Popular: 1 year later Kickstarter Founded: 2009 Became Popular: 1 year later Appeared: 2012 Became Popular: 1 year later And so on, etcitra, and so forth... Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:15:02 PM We will need to bump this thread in a year or two and laugh when BTC is worth 10X as much as it is today. U think the price is measure of success? Enjoy - http://en.wikipedia.org/wiki/Artist's_shit. Title: Re: The End Is Near Post by: BitChick on May 02, 2013, 06:19:21 PM U think the price is measure of success? If I get $1000 for every $100 I invested in BTC I will feel very successful ;D If my BTC has the buying power of $1000 for every $100 I will feel very successful too. ;D BUT, If I lose money investing in this I will be sad for a day but move on. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:23:04 PM U think the price is measure of success? If I get $1000 for every $100 I invested in BTC I will feel very successful ;D If my BTC has the buying power of $1000 for every $100 I will feel very successful too. ;D BUT, If I lose money investing in this I will be sad for a day but move on. From my point of view success is not measured by amount of paper money. Title: Re: The End Is Near Post by: BitChick on May 02, 2013, 06:26:25 PM From my point of view success is not measured by amount of paper money. Buying power is really all that matters, I agree with that statement. All the more reason to be invested in crypto currency. Will it be BTC or some other currency? I guess that is where you are going with this thread. So far BTC has had the most success though and has some traction behind it. It might not be the "best" but it is the first. Many things that are the first are the winners so again, it is a risk worth taking. Title: Re: The End Is Near Post by: davidspitzer on May 02, 2013, 06:30:14 PM Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:32:48 PM Yup. I used this phrase as a trick to catch attention. Title: Re: The End Is Near Post by: SmokeTooMuch on May 02, 2013, 06:34:05 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. It doesnt even moved from beta yet ... See? No progress at all. I'm here for the full 4 years and I can prove otherwise. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:38:22 PM I'm here for the full 4 years and I can prove otherwise. Could u provide a few examples, plz? Title: Re: The End Is Near Post by: virtualmaster on May 02, 2013, 06:43:15 PM People lost their faith in Bitcoin. The rise of competing altcoins, govt regulation, shutdowns of exchanges, frozen bank accounts, recent crashes called "fluctuations", black PR. More than 4 years have passed since the launch and Bitcoin is still far from world-wide adoption. In our fast-paced world 4 years is too much time. Those who familiar with Bitcoin see other worrying indications - price manipulation, inability of core devs to solve technical issues related to scalability, centralization, successful attempts of some persons to regulate Bitcoin. For me it's obvious now that The End Is Near. Bitcoin failed, time to move on... I read an article about the bitcoin as internet hysteria and I was laughing about it but now I don't find a better word about what is happening with terracoin, feathercoin, bytecoin and the other new coins which don't bring anything new but found a lot of new adepts.Bitcoin is still not at the end but definitely there is a new threat with so many new alt-currencies. And more and more alt-currencies will appear. - The alt-currencies are sucking already a huge amount of financial blood from bitcoin and it will be even worse. - Miners will switch from a currency to another when prices change like it was by terracoin and hash power could fluctuate drastically which will reduce the network security. It will be not any more take long and will appear the first currency making kit and anybody could make a new currency with it. May be bitcoin should find a way how to use best this new situation. People a fascinated by creating new currencies and may be could be built a system upon the bitcoin system to give for every social group the joy to create his own currency and still be integrated in a global bitcoin economy. Title: Re: The End Is Near Post by: proudhon on May 02, 2013, 06:46:13 PM FML, the spec forum has follow me out.
Title: Re: The End Is Near Post by: franky1 on May 02, 2013, 06:47:43 PM obviously the OP is giving up, oh well. more coins to go around for new adopters, no loss there then.
in other news the euro has been around for over a decade and still even now people dont trust it. theres been bank robberies, shutting down of banks, and all the other blah the OP mentions. in other news the UK Pound has been around for a few hundred years and still even now people dont trust it. blah blah, ill save repeating the same story as the OP spouts about bitcoin. in other news the dollar, yen, blah blah. you can guess what im saying here.. now the only difference being is that bitcoin is not a government owned product which is then licensed for people to have in their possession. bitcoin is actually your asset, your property. they cant just go into your bank and reduce the decimals to zero. as for the 4 year itch. back in the days of the wild west it took much longer then 4 years for the dollar to expand beyond local bartering and become an internationally recognised and traded product. yet people in the UK already buy american, european products and services with it. and vice versa so ignore the propaganda that bitcoin is failing. thats just fake hype someone wants people to think to cause a drop in the price purely so they can buy in cheap. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 06:59:20 PM obviously the OP is giving up, oh well. more coins to go around for new adopters, no loss there then. I should repeat, Bitcoin failed, other altcoins didn't. Title: Re: The End Is Near Post by: Ben Thomas Clayton on May 02, 2013, 07:15:35 PM iPhone and Android does not fit into the list!
They're popularity would have most likely not come if it weren't for that BlackBerry started making smartphones some decades earlier. So! Smartphones Invented: 1994 (based on and idea from 1973) Gained popularity: 1999 4 Years is nothing! E-books Invented: 1930 Became mass popular: 1992 Microsoft Started: 1975. Became Popular: 1995 Christianity Started: Approx 4 BC Became a world religion: The 16th century Cars First prodused: 1672 Became a World Wide Product: (Not yet) And so on, etcitra, and so forth... iPhone Presented: 2007 Became Popular: 1 year later Android 1.0 Released: 2008 Became Popular: 1 year later Kickstarter Founded: 2009 Became Popular: 1 year later Appeared: 2012 Became Popular: 1 year later And so on, etcitra, and so forth... Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 07:22:04 PM iPhone and Android does not fit into the list! They're popularity would have most likely not come if it weren't for that BlackBerry started making smartphones some decades earlier. OK. I just want to put emphasis on very long maturation period of Bitcoin. We are stuck, time to move on. Title: Re: The End Is Near Post by: noedaRDH on May 02, 2013, 07:30:41 PM 4 Years is nothing! E-books Invented: 1930 Became mass popular: 1992 Microsoft Started: 1975. Became Popular: 1995 Christianity Started: Approx 4 BC Became a world religion: The 16th century Cars First prodused: 1672 Became a World Wide Product: (Not yet) And so on, etcitra, and so forth... iPhone Presented: 2007 Became Popular: 1 year later Android 1.0 Released: 2008 Became Popular: 1 year later Kickstarter Founded: 2009 Became Popular: 1 year later Appeared: 2012 Became Popular: 1 year later And so on, etcitra, and so forth... Iphones and Android are backed by huge firms... bad way to compare things. Title: Re: The End Is Near Post by: UltimateReaper on May 02, 2013, 07:33:02 PM http://25.media.tumblr.com/21bc11680da2418e99691ed833d3ff1b/tumblr_mfxluqrzZk1reitwwo1_r1_500.gif
k bye. Title: Re: The End Is Near Post by: zeroday on May 02, 2013, 07:45:12 PM I should repeat, Bitcoin failed, other altcoins didn't. It failed personally for you as you lost your chance to adopt bitcoin early and now you are expecting that early adoption to some new ShitCoin will make you mega-rich. How naive. Good luck and good bye. Title: Re: The End Is Near Post by: bitcon on May 02, 2013, 07:45:32 PM the end of FIAT is near!
Title: Re: The End Is Near Post by: noedaRDH on May 02, 2013, 07:54:26 PM I'm sure someone said else said something similar to the OP back in the 2011 crash. Heck, someone might have even said the same thing last Fall without any huge price corrections.
I expect a lot of new services and firms using BTC's to emerge in the next 6 to 12 months. I don't think all those VC's you heard about in the past month will suddenly get weak in the knees because of these price swings. Volatility and BTC's go hand in hand in this really early phase when the world doesn't know what the true value of a Bitcoin is. Each time we get large price movements, useful people will take notice. Some of those useful people move into the system and help it grow. Those who are unfit for Bitcoins will leave. In the end, Bitcoins loses nothing and gains everything. And consider these facts: -Bitcoin is open-source CURRENCY. It is not a PRODUCT being pushed and marketed by powerful elites (with their endless supply of brainwashing guru's) with really really deep pockets. -No one has tried introduce a disruptive tech like Bitcoins before, a tech that fights centralized banking -It's a CURRENCY not backed by a centralized power <- remember this, it is not some smartphone or some piece of operating system, which are just products on top of existing products that the masses are ready to consume... the whole philosophical idea behind Bitcoins is totally foreign to the average citizen who don't understand how their papers are created Those facts alone makes life VERY difficult for Bitcoins. So to have Bitcoins where it is today (in a relatively short lifetime of 4 years) I would say Bitcoins is ALREADY a smashing success. Sure Bitcoins is not perfect, but what is? It's still totally unknown to 99.9% of the population. It is an infant fighting ALMOST insurmountable odds. So there's much growth to be had, and most likely, much growth WILL occur. Title: Re: The End Is Near Post by: wormbog on May 02, 2013, 08:02:06 PM obviously the OP is giving up, oh well. more coins to go around for new adopters, no loss there then. I should repeat, Bitcoin failed, other altcoins didn't. You have come to herald the coming of your new cryptocoin, but keep in mind: you can't be both John the Baptist *and* Jesus. Title: Re: The End Is Near Post by: (A)social on May 02, 2013, 08:10:16 PM Title: Re: The End Is Near Post by: Kluge on May 02, 2013, 08:14:53 PM It should probably be noted that Bitcoin was released as an extremely incomplete product, and the default Bitcoin client's made a lot of progress over its earlier releases. It's like writing off computers because it's a two-ton machine which takes a small warehouse to hold. Kickstarter's probably a fair example, but I've never heard of Pinterest, so I'm either under a rock, or it's not as popular as you think.
Bitcoin has one of the biggest hurdles of ANY venture - and that's education and social acceptance. It's the hallmark of a revolutionary product. Bitcoin is an educational challenge because there's a LOT going behind the scenes. Few people really know the mechanics of how USDs are made and regulated, but the government's gone around that obstacle with their product by just declaring it the only legal tender. We don't understand it, we just use it - because in most cases, we have to. Bitcoin has a particularly bad time handling education, because when it was created, there was no press coverage. Compare that to something like "Mint" coins from Canada, where everyone figured they might encounter it since it came from the government, and the press started off by explaining what it was and how it might affect us. The press has started doing that with Bitcoin, but generally not in "everyman" media. There wasn't that initial hype -- media outlets didn't spend a few days talking about the implications of Bitcoin and how it worked, so it's really been all on the devs, businessmen, and evangelists. Bitcoin didn't really have a honeymoon period in the media, it just has a writer every now and then finding it interesting how dramatic some of the financial numbers are, either in the exchanges, or with illegal goods - and every now and then, a talking head will go on about how Bitcoin's going to enable criminals in a revolutionary new way, stopping just short of making a public call to action for government regulation. -But yeah, merchant adoption does suck. With a lot of anonymous products Bitcoin users are familiar with, there's acceptance for donations and payment, but rarely outside that. It's kind of silly that I first shop for a store on the Bitcoin Trade Wiki before shopping for products, and I don't think it's reasonable to expect consumer adoption while that's still happening - but there are a lot of VCs who are aware of this and working on the next big thing. They really are out there (and by "there," I mean here), so if you have a very clever idea and release it publicly with a pseudo-resume saying why you and whoever you're with can implement this well, then ask for funding, someone will likely tap you eventually. They're looking at services like BitPay and BitInstant, because ease-of-use (reducing the education burden) is key to Bitcoin adoption, even moreso than just talking about Bitcoins publicly - because the Bitcoin infrastructure right now is not a collection of products ready for the public. Buying Bitcoins shouldn't be something you need to "plan" for... The way Gox and other exchanges make you wait (because we haven't found enough good, cheap, quick ways around AML regs), it's as bad as filing your fucking tax returns. Legal tender, AML, and tax laws all burden Bitcoin in ways more profound than almost every other product, and ease-of-use suffers because of it, which hurts adoption rate. I really think, when we see either a Bitcoin ATM or a debit card which can take and give both fiat and BTC - or even just a legitimate bank/CU, merchant adoption (esp. B&M, where Bitcoin has practically no presence) is going to start soaring. When I can use my BTC in the Bank of BitInstant - or whatever - and use it like USD with a debit card, I can basically use BTC everywhere. Right now, I can't really take my Bitcoins with me. I don't want to store coins on a phone, and I definitely am not going to be pressing my phone against a cash register dongle like the world's biggest douchebag. Physical coins are unsuitable for reasons I don't think I need to get into - and I gotta poop, so... Title: Re: The End Is Near Post by: Jaroslaw on May 02, 2013, 08:16:16 PM So assuming USA tomorrow announce they will use virtual money, but why the hell they use Bitcoin ?? They could announce AmericaCoin wich is not in 50% in hand of "unknown" people. This is impossible to any country or big organisation accept bitcoins, rather they will introduce their own Xcoin.
Title: Re: The End Is Near Post by: franky1 on May 02, 2013, 08:28:50 PM everyone is thinking the end is near due to the price being nearer the $100 mark compared to the $240 mark..
the way i see it... Feb 2013 low of $20 March 2013 low of $33 April 2013 low of $50 May 2013 low of $91 http://i41.tinypic.com/2hzwpf.jpg dont worry about the highs, they will be ramped by many speculations the proaganda machines can think up next. as long as the lows don't drop too much and creep up in value each month then bitcoin is still growing. ignore the daily amounts if your thinking about long term investments. the daily amounts are for day trading profiteers. for long term value, use the monthly low figures to see what is happening Title: Re: The End Is Near Post by: wtfvanity on May 02, 2013, 08:33:54 PM 4 Years is nothing! E-books Invented: 1930 Became mass popular: 1992 Microsoft Started: 1975. Became Popular: 1995 Christianity Started: Approx 4 BC Became a world religion: The 16th century Cars First prodused: 1672 Became a World Wide Product: (Not yet) And so on, etcitra, and so forth... In 4 years since the launch? U r kidding. Internet, invented in the 1960's. US Backbone in the 1980's Commercialization in the 1990's. 2012 over 1/3 of the world population using it. Let's not compare the Internet to Bitcoin. It didn't start with a few nerds sending coins to each other without being commercialized. Oh wait... yeah it did. A couple of years in we have bitpay and some other cool tools. 4 years of bitcoin seems just like the beginning. 6000 nodes. 250,000 wallets on blockchain.info Transaction volume increases. Yeah, it looks like the end is near for sure. Title: Re: The End Is Near Post by: SmokeTooMuch on May 02, 2013, 08:43:31 PM I'm here for the full 4 years and I can prove otherwise. Could u provide a few examples, plz? https://en.bitcoin.it/wiki/Trade (https://en.bitcoin.it/wiki/Trade) We started end 2009 with zero exchange possibilites and we had no idea what one bitcoin could be worth. Now we have hundreds if not thousand of bitcoin-accepting businesses, we have several exchange markets who operate in different countries with different state currencies. We build a community with thousands of people all sharing the same ideal. We made that almost all the internet-affine people know about Bitcoin. All the products you listed where supported by huge profit oriented business and none of them was the first product of their kind. Seriously, I could go on and on. Saying Bitcoin is at it's end because it's not the worlds #1 currency yet is just offensive to everyone who is really involved with the bitcoin community and is totally ignoring what we, as a internet community have reached. We have started a freaking revolution via the internet, how can you just ignore such a thing? Feel free to leave us at any point, but don't think Bitcoin has reached it's zenith yet. Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 08:47:10 PM everyone is thinking the end is near due to the price being nearer the $100 mark compared to the $240 mark.. I'm not talking about USD/BTC rate. I'm talking about Quote The rise of competing altcoins, govt regulation, shutdowns of exchanges, frozen bank accounts, recent crashes called "fluctuations", black PR andQuote price manipulation, inability of core devs to solve technical issues related to scalability, centralization, successful attempts of some persons to regulate Bitcoin Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 08:48:59 PM I'm here for the full 4 years and I can prove otherwise. Could u provide a few examples, plz? https://en.bitcoin.it/wiki/Trade (https://en.bitcoin.it/wiki/Trade) We started end 2009 with zero exchange possibilites and we had no idea what one bitcoin could be worth. Now we have hundreds if not thousand of bitcoin-accepting businesses, we have several exchange markets who operate in different countries with different state currencies. We build a community with thousands of people all sharing the same ideal. We made that almost all the internet-affine people know about Bitcoin. All the products you listed where supported by huge profit oriented business and none of them was the first product of their kind. Seriously, I could go on and on. Well. I have to admit there is some progress. Title: Re: The End Is Near Post by: nebulus on May 02, 2013, 09:00:59 PM I am sorry but I don't see how having some competition means the end of Bitcoin. Your topic would be much better if you would write it from an angle that outlines bitcoin difficulties rather than make it into a FUD rant.
Title: Re: The End Is Near Post by: WilderedB on May 02, 2013, 09:05:25 PM 'Come from beyond', what is the actual purpose of your rant?
Just to get people upset or what? Happily bitcoin doesn't answer to you, nor do the thousands of users. I'm curious though as to the purpose of your post? What are you hoping to achieve? Title: Re: The End Is Near Post by: Come-from-Beyond on May 02, 2013, 09:13:57 PM 'Come from beyond', what is the actual purpose of your rant? Just to get people upset or what? Happily bitcoin doesn't answer to you, nor do the thousands of users. I'm curious though as to the purpose of your post? What are you hoping to achieve? Bitcoin has a lot of (unresolvable) issues. People shouldn't be sheeple. In fact Bitcoin is regulated by "Mark Karpeles & Co". Litecoin has similar issue. I'm sure there are a lot of experienced developers among newbies, they could launch a better cryptocoin. Title: Re: The End Is Near Post by: UltimateReaper on May 02, 2013, 09:19:42 PM 'Come from beyond', what is the actual purpose of your rant? Just to get people upset or what? Happily bitcoin doesn't answer to you, nor do the thousands of users. I'm curious though as to the purpose of your post? What are you hoping to achieve? Bitcoin has a lot of (unresolvable) issues. People shouldn't be sheeple. In fact Bitcoin is regulated by "Mark Karpeles & Co". Litecoin has similar issue. I'm sure there are a lot of experienced developers among newbies, they could launch a better cryptocoin. Bitcoin was created by an Asian. Not only that but a Japanese Asian You really think someone is going to build a better coin? Hell, when Japan finally finishes their Gundams we will all be sorry. Title: Re: The End Is Near Post by: nicolazza on May 02, 2013, 09:24:31 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. 4 years is nothing, are you 12 by any chance? http://www.youtube.com/watch?v=7miRCLeFSJo No, 33. The age of christ :o Title: Re: The End Is Near Post by: papaminer on May 02, 2013, 09:24:43 PM Come from behind is correct. Don't put all your eggs in one basket. BTC will fail as the single, arch-cryptocurrency. It's got some real problems. All you dang kool-aid drinkers put down the isopropyl alcohol spiked kool-aid for just long enough to use your mind and learn what the flaws are and impartially analyze them already, for crissake. I'm not saying it's a train wreck. But because it is open source, it is bound to be improved upon, itself and by forks. He's not saying cryptocurrency is a failure. Bitcoin succeeds as being the prototype of cryptocurrency, because cryptocurrency will prevail! Think about it. This is the first go round. Others are already proliferating. Some address btc specific flaws, others don't. The markets will decide. I don't think bitcoin is going to come out on top. When it's practically as easy as doing a git clone and changing what you want, posting what you did here, enduring the flaming kool-aid drinkers, and supporting the product, then better (and worse) alternatives are surely going to make themselves available. That's another bitcoin success! I think it will stablize in the future with many different competing and complementary cryptocoins, some for international purposes, some localized geographically used as reserves for notes issued by local banks or governments. Some will store wealth better, like bitcoin, some will spend better and have more velocity, like something like freicoin. Some will only be useful in California, others the world over on the internet. Some will only be pertinent to certain industries, like devcoin is to geeks. Bitcoin fails as the be-all, end-all, only meaningful cryptocurrency, but succeeds wildy in spawning a whole new monetary system. This is just my opinion. Title: Re: The End Is Near Post by: crumbcake on May 02, 2013, 09:27:18 PM Quote And consider these facts: -Bitcoin is open-source CURRENCY. It is not a PRODUCT being pushed and marketed by powerful elites (with their endless supply of brainwashing guru's) with really really deep pockets. Quote -No one has tried introduce a disruptive tech like Bitcoins before, a tech that fights centralized banking Not sure what you mean by "disruptive tech," a currency which is introduced into an established economy *on top of* existent currency to *dilute & devalue it*? I'm not sure how that's fundamentally different from printing & pumping more $ bills into the economy -- you haven't introduced anything else of value into the system, have you? Quote -It's a CURRENCY not backed by a centralized power <- remember this, it is not some smartphone or some piece of operating system, which are just products on top of existing products that the masses are ready to consume... the whole philosophical idea behind Bitcoins is totally foreign to the average citizen who don't understand how their papers are created Well, see above, +There are "philosophical ideas" that are too intricate & sublime for the average Joe to understand quickly. And some "philosophical ideas" are simply ... bad, ill-formed drivel. Clumsy mental constructs that fail the test of reality. "Average citizen" doesn't get them 'coz he's smart. Quote Those facts alone makes life VERY difficult for Bitcoins. So to have Bitcoins where it is today (in a relatively short lifetime of 4 years) I would say Bitcoins is ALREADY a smashing success. Bitcoin *could* be going through growing pains, or death throes--everything you said seems to point to the latter. Yeah, the success of Bitcoin up 'till now is nothing short of *amazing*. OTOH, a horse that can count up to ten is an amazing horse, not an amazing mathematician. (somebody clever (not i) came up with the horse bit)That said, i'm a noob, and could be dead-wrong. If nothing else, Bitcoin's wikid' interesting. [edit] Whoops. reply to https://bitcointalk.org/index.php?topic=193445.msg2008578#msg2008578 Title: Re: The End Is Near Post by: Crypt_Current on May 02, 2013, 09:28:45 PM the end of FIAT is near! FML, the spec forum has follow me out. yerp Title: Re: The End Is Near Post by: Crypt_Current on May 02, 2013, 09:29:54 PM Before you say bitcoin has failed, first you must define what a success would be for bitcoin. To me, a successful bitcoin has the network running securely, confirming transactions in a timely manner, allowing me to send value across the globe or store value securely until I need it later. We have achieved a small amount of success, but there is still room for improvement. Right now I can store value as bitcoins, and I can send those bitcoins, but these features are still limited. I agree with this because it's in red Title: Re: The End Is Near Post by: Chakraball on May 02, 2013, 10:51:07 PM 'Come from beyond', what is the actual purpose of your rant? Just to get people upset or what? Happily bitcoin doesn't answer to you, nor do the thousands of users. I'm curious though as to the purpose of your post? What are you hoping to achieve? Bitcoin has a lot of (unresolvable) issues. People shouldn't be sheeple. In fact Bitcoin is regulated by "Mark Karpeles & Co". Litecoin has similar issue. I'm sure there are a lot of experienced developers among newbies, they could launch a better cryptocoin. Bitcoin was created by an Asian. Not only that but a Japanese Asian You really think someone is going to build a better coin? Hell, when Japan finally finishes their Gundams we will all be sorry. The only Japanese involved was a non English speaking newbie on the Ruby List who's name they decided to use. Title: Re: The End Is Near Post by: statdude on May 02, 2013, 10:57:43 PM Can someone help me with this thought?
I see the altcoins as devaluing and having the potential to replace BTC. So, BTC is inherently threatened. Since BTC/LTC/FTC are so similar, doesn't it have the effect of "printing money" on the market, since all of them are the same and can be used for the same purpose? Why is BTC any better than any Altcoin or a combination of all of them? It seems like we went from 17 million coins, plus 4x that, plus 4x that 2nd number again! So, why would BTC be worth more LONG TERM? It's because of USABILITY - if you can't use it, you won't buy it - and the price will drop! Whatever coin is being used, will have value - Unless its replaced by competition! I could see this happening repeatedly over the coming years - if another coin is able to out-compete BTC, inevitably something better will come along! I don't see BTC being particularly more USABLE than LTC for much at this point, so wheres the value? In its "potential"- but doesn't that belong to all cryptocurrencies? Unless BTC is somehow signed into law or permanently becomes the ONLY option mid/long term, it's value will always be in danger of other cyrptocurrencies taking its place, IMO. Title: Re: The End Is Near Post by: Kluge on May 02, 2013, 11:03:07 PM Can someone help me with this thought? BTC's more fungible because it's more established and popular, thus more usable. Exchanges aren't going to add a hundred BTC clones, nor are many merchants going to start accepting Feathercoins any time soon. BTC's always in danger of being replaced, but they'd have to be dramatically better to get over the adoption hurdle.I see the altcoins as devaluing and having the potential to replace BTC. So, BTC is inherently threatened. Since BTC/LTC/FTC are so similar, doesn't it have the effect of "printing money" on the market, since all of them are the same and can be used for the same purpose? Why is BTC any better than any Altcoin or a combination of all of them? It seems like we went from 17 million coins, plus 4x that, plus 4x that 2nd number again! So, why would BTC be worth more LONG TERM? It's because of USABILITY - if you can't use it, you won't buy it - and the price will drop! Whatever coin is being used, will have value - Unless its replaced by competition! I could see this happening repeatedly over the coming years - if another coin is able to out-compete BTC, inevitably something better will come along! I don't see BTC being particularly more USABLE than LTC for much at this point, so wheres the value? In its "potential"- but doesn't that belong to all cryptocurrencies? Unless BTC is somehow signed into law or permanently becomes the ONLY option mid/long term, it's value will always be in danger of other cyrptocurrencies taking its place, IMO. Title: Re: The End Is Near Post by: statdude on May 02, 2013, 11:09:06 PM Agree Kluge. And that's why it trades at well over its closest competitors - and that holds much value. I guess this just means it's important to be careful - but I agree, whichever coin is widely accepted will be TOUGH to beat out, but not impossible.
Reminds me of Blue Ray vs HD DVD - for the world's future currency. Title: Re: The End Is Near Post by: noedaRDH on May 02, 2013, 11:09:15 PM Can someone help me with this thought? I see the altcoins as devaluing and having the potential to replace BTC. So, BTC is inherently threatened. Since BTC/LTC/FTC are so similar, doesn't it have the effect of "printing money" on the market, since all of them are the same and can be used for the same purpose? Why is BTC any better than any Altcoin or a combination of all of them? It seems like we went from 17 million coins, plus 4x that, plus 4x that 2nd number again! So, why would BTC be worth more LONG TERM? It's because of USABILITY - if you can't use it, you won't buy it - and the price will drop! Whatever coin is being used, will have value - Unless its replaced by competition! I could see this happening repeatedly over the coming years - if another coin is able to out-compete BTC, inevitably something better will come along! I don't see BTC being particularly more USABLE than LTC for much at this point, so wheres the value? In its "potential"- but doesn't that belong to all cryptocurrencies? Unless BTC is somehow signed into law or permanently becomes the ONLY option mid/long term, it's value will always be in danger of other cyrptocurrencies taking its place, IMO. It's called the network effect. There are a dozen Facebook clones out there but that doesn't mean they are used; people head towards the network with the largest amount of traffic and users. Apply that to BTC's - no point to hold any alt. coins if the alternate networks have very few users. Title: Re: The End Is Near Post by: noedaRDH on May 02, 2013, 11:22:37 PM Quote And consider these facts: -Bitcoin is open-source CURRENCY. It is not a PRODUCT being pushed and marketed by powerful elites (with their endless supply of brainwashing guru's) with really really deep pockets. Quote -No one has tried introduce a disruptive tech like Bitcoins before, a tech that fights centralized banking Not sure what you mean by "disruptive tech," a currency which is introduced into an established economy *on top of* existent currency to *dilute & devalue it*? I'm not sure how that's fundamentally different from printing & pumping more $ bills into the economy -- you haven't introduced anything else of value into the system, have you? Quote -It's a CURRENCY not backed by a centralized power <- remember this, it is not some smartphone or some piece of operating system, which are just products on top of existing products that the masses are ready to consume... the whole philosophical idea behind Bitcoins is totally foreign to the average citizen who don't understand how their papers are created Well, see above, +There are "philosophical ideas" that are too intricate & sublime for the average Joe to understand quickly. And some "philosophical ideas" are simply ... bad, ill-formed drivel. Clumsy mental constructs that fail the test of reality. "Average citizen" doesn't get them 'coz he's smart. Quote Those facts alone makes life VERY difficult for Bitcoins. So to have Bitcoins where it is today (in a relatively short lifetime of 4 years) I would say Bitcoins is ALREADY a smashing success. Bitcoin *could* be going through growing pains, or death throes--everything you said seems to point to the latter. Yeah, the success of Bitcoin up 'till now is nothing short of *amazing*. OTOH, a horse that can count up to ten is an amazing horse, not an amazing mathematician. (somebody clever (not i) came up with the horse bit)That said, i'm a noob, and could be dead-wrong. If nothing else, Bitcoin's wikid' interesting. [edit] Whoops. reply to https://bitcointalk.org/index.php?topic=193445.msg2008578#msg2008578 See, the thing is, Bitcoins are not backed by a military or force; there's no one on the magnitude of Apple or IBM or whoever else forcing this thing onto people. You'll hear very little about Bitcoins outside of maybe a random blip on a news channel or certain circles of the internet. So if Bitcoin continues to succeed, it will be because average people see the advantage of using it, not because someone forces them (or as you said, brainwashes them) to use it. Now if people are going to use it out of their own accord, and enough people follow suit, then you can see how that would inspire confidence, especially for those who want to try something new and something that's not backed by violence. It is indeed a disruptive tech. How much would exchange students or domestic workers or others who need money transfers on a regular basis stand to benefit if Bitcoins become popular with that crowd? They can dodge fees from Western Union or wire transfers, hurting WU and other companies involved in the money transfer business. What about Ebay? What if someone set up something like Ebay but instead uses exclusively Bitcoins or other alt currencies? They just have to undercut Ebay/Paypal a little and ensure that they are responsible enough to take on the "escrow"-like role for a small fee. I don't see how the philosophical ideas of Bitcoins is drivel... perhaps you don't think of them as important or worthy of thought, that doesn't mean that others will follow in your path. Those who do think about those ideas can gamble and potentially gain something in return. The "average joe" doesn't know how their bank operates but that doesn't stop them from putting some money in the bank. Eventually Bitcoins will expand far enough so that even the average person can gain from being in the system and lose out from not. I can hardly see a situation where Bitcoins will "die" in a fashion where it cannot recover and once again excel. We've seen cases where it looked like Bitcoins was doomed in the past, but after some time, it is back with more vitality than ever. EDIT: I'm not saying that Bitcoins will succeed; it might succeed but that day might not be as close as some of us like to think. But the point is that, thus far, Bitcoins has come a long way. And I think we should take the time to reflect on that and appreciate its success. Title: Re: The End Is Near Post by: schmokel on May 03, 2013, 02:10:56 AM Eh. It's only disruptive if people adopt it en masse. What do you think is more likely? Western Union, Moneygram, MasterCard, Visa, Amazon, Ripple, etc. improving p2p money transfer, or BTC usurping all of the competition? I used to be bullish on BTC, but giving it more thought, the value of this currency/commodity is too heavily tied to speculation and hype. How many people just a few days ago were falling over themselves to say that $100 would never be broken again? Honestly, I think what's more likely is that something similar to BTC and is redeemable for something of value (rather than dissipated watts in an ASIC) is the future. If you think fiat requires a leap of faith, BTC requires an absolute acid trip.
Title: Re: The End Is Near Post by: DoomDumas on May 03, 2013, 03:03:13 AM Good bye. How much do you sell your Bitcointalk account? I would'nt pay a satoshi for a so many "ignored" account ;) Title: Re: The End Is Near Post by: antimattercrusader on May 03, 2013, 05:14:49 AM I find the blue font color lends a lot of credibility to this argument. Only a counter argument in a red font could convince me otherwise. lmao Title: Re: The End Is Near Post by: bitcon on May 03, 2013, 05:22:40 AM this feels like April 13th all over again: the last time i bought $60 coins from weak hands.
Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 09:44:56 AM More altcoins have appeared, people have started to criticize Bitcoin Foundation, Gox has been sued. Seems I was right...
Title: Re: The End Is Near Post by: Nikolaj06 on May 05, 2013, 10:46:15 AM More altcoins have appeared, people have started to criticize Bitcoin Foundation, Gox has been sued. Seems I was right... For the love of Science, please state your sources! All I see are words in a particular order claiming something they don't back. (Gox being sued is the only one I'm sure is legit) Title: Re: The End Is Near Post by: solex on May 05, 2013, 10:51:49 AM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. You are partly right. The end of the beginning is near. The beginning of the middle is starting and that is when it REALLY gets interesting! Altcoin prices will only ever hang onto the coattails of BTC. Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 11:02:41 AM More altcoins have appeared, people have started to criticize Bitcoin Foundation, Gox has been sued. Seems I was right... For the love of Science, please state your sources! All I see are words in a particular order claiming something they don't back. (Gox being sued is the only one I'm sure is legit) [ANN] a new coin based on Litecoin - CHNCoin (https://bitcointalk.org/index.php?topic=192243.0) [ANN] BitBar New POW-POS scrypt CryptoCoin (https://bitcointalk.org/index.php?topic=193519.0) [ANN] GCoin release (https://bitcointalk.org/index.php?topic=194405.0) JunkCoin, the newest Litecoin-based alt coin has arrived! (https://bitcointalk.org/index.php?topic=194756.0) The Bitcoin Foundation needs to take a more active Public Role (https://bitcointalk.org/index.php?topic=193593.0) So many issues with the bitcoin foundation, how much longer are we giving it? (https://bitcointalk.org/index.php?topic=194156.0) A call for the Bitcoin Foundation to appoint a new board or dissolve (https://bitcointalk.org/index.php?topic=194255.0) Make protecting and promoting decentralization a Bitcoin Foundation goal (https://bitcointalk.org/index.php?topic=194017.0) How to resign as a Bitcoin Foundation member? (https://bitcointalk.org/index.php?topic=195635.0) Title: Re: The End Is Near Post by: SAQ on May 05, 2013, 01:11:58 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. Lol - 4 years is a long time? Had you heard of the internet in 1994? - Most people had not. It was not until 2000 - 2001 that the internet became big. 4 years is the beginning phrase bro. Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 02:25:24 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. Lol - 4 years is a long time? Had you heard of the internet in 1994? - Most people had not. It was not until 2000 - 2001 that the internet became big. 4 years is the beginning phrase bro. I have a different opinion, bro. Title: Re: The End Is Near Post by: SAQ on May 05, 2013, 03:49:10 PM IT ONLY HAS BEGUN!!! In 4 years since the launch? U r kidding. Lol - 4 years is a long time? Had you heard of the internet in 1994? - Most people had not. It was not until 2000 - 2001 that the internet became big. 4 years is the beginning phrase bro. I have a different opinion, bro. Right, well that settles it. Title: Re: The End Is Near Post by: warpio on May 05, 2013, 03:51:37 PM doom and gloom. it's happening. be afraid. etc...
Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 08:32:53 PM One more proof that I was right - WARNING! Bitcoin will soon block small transaction outputs (https://bitcointalk.org/index.php?topic=196138.0).
As I said core devs failed to solve scalability issues. Title: Re: The End Is Near Post by: master-P on May 05, 2013, 08:40:43 PM One more proof that I was right - WARNING! Bitcoin will soon block small transaction outputs (https://bitcointalk.org/index.php?topic=196138.0). As I said core devs failed to solve scalability issues. That doesn't seem good at all :-\ Title: Re: The End Is Near Post by: Frozenlock on May 05, 2013, 08:45:31 PM Read the pull request. It really isn't that bad.
Quote Road map: (...) So IsDust() will be based on what is actually being accepted into blocks, and will adjust appropriately Title: Re: The End Is Near Post by: kalinka on May 05, 2013, 08:49:35 PM Mass worldwide adoption isn't going to happen...those who think it will are dreaming. But it doesn't really need to. People who want to use bitcoin still can use bitcoin.
Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 08:51:48 PM Read the pull request. It really isn't that bad. Quote Road map: (...) So IsDust() will be based on what is actually being accepted into blocks, and will adjust appropriately It doesn't matter if it's bad or good. Core devs are unable to solve scalability issues. PERIOD Title: Re: The End Is Near Post by: Jutarul on May 05, 2013, 09:00:50 PM One more proof that I was right - WARNING! Bitcoin will soon block small transaction outputs (https://bitcointalk.org/index.php?topic=196138.0). It's not a scalability issue - it's a problem with externalized costs. In this case, current miners don't take the future cost of transactions into account when comparing transaction fees - mainly because they don't have a financial incentive to care. And the fix is a soft limit, which means those transaction will still be legal - you just have to find a miner who includes them. If you disagree with that change, get yourself some mining equipment and include them when finding a block. Or bribe a mining pool. It's not a dictatorship you know...As I said core devs failed to solve scalability issues. Also, transaction fee policies are a moving target and not really a core critierium for the bitcoin consensus model. There's no hard rule which defines how much transaction fee has to be paid. It's an mechanism to bribe miners... Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 09:05:50 PM It's not a scalability issue... It is. From https://github.com/bitcoin/bitcoin/pull/2577: Quote Two motivations for this pull: First, to discourage people from bloating users' wallets and the UTXO set with tiny outputs... Second, we have no idea what will happen to Bitcoin prices or transaction volume / competition for space in blocks. Title: Re: The End Is Near Post by: arepo on May 05, 2013, 09:12:12 PM It's not a scalability issue... It is. From https://github.com/bitcoin/bitcoin/pull/2577: Quote Two motivations for this pull: First, to discourage people from bloating users' wallets and the UTXO set with tiny outputs... Second, we have no idea what will happen to Bitcoin prices or transaction volume / competition for space in blocks. it's a little of both. what Jut was trying to say is that it's not a protocol-inherent, bitcoin-fatal scaleability problem, it's a scaleability problem with the current incentives given the recent activity in the blockchain. i really don't see the fuss about this change, Gavin is NOT our 'king'. miners and users will settle this democratically, as always. Title: Re: The End Is Near Post by: huggybear on May 05, 2013, 09:18:27 PM such as your prediction:
1.35 billion people won't adopt Bitcoin http://jingji.cntv.cn/2013/05/03/VIDE1367596319388137.shtml (http://jingji.cntv.cn/2013/05/03/VIDE1367596319388137.shtml) big lol And did you not want to destroy all altcoins, in another thread? How good that bitcointalk has a troll indicator. Congratulations! you are the first at my ignore list Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 09:21:08 PM Congratulations! you the first at my ignore list Pay attention to my [ignore] button and guess how much I worry about this. :) Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 09:24:04 PM And did you not want to destroy all altcoins, in another thread? Yes, I did. That was the only way to save Bitcoin. Altcoins separate us. Now I stick to Bytecoin, all the others still should be destroyed. Title: Re: The End Is Near Post by: w00t on May 05, 2013, 09:26:07 PM such as your prediction: 1.35 billion people won't adopt Bitcoin http://jingji.cntv.cn/2013/05/03/VIDE1367596319388137.shtml (http://jingji.cntv.cn/2013/05/03/VIDE1367596319388137.shtml) big lol And did you not want to destroy all altcoins, in another thread? How good that bitcointalk has a troll indicator. Congratulations! you are the first at my ignore list +1 I was wondering if he was a troll or what now I know and he also made it to my ignore list. Title: Re: The End Is Near Post by: Come-from-Beyond on May 05, 2013, 09:36:16 PM For the others who will put me into their ignore lists:
Do it silently plz, I don't really care. I know, this forum is full of sheeple who r unable to see beyond their dogmas. Title: Re: The End Is Near Post by: Stunna on May 05, 2013, 09:46:37 PM There is no current competing currency that could scratch bitcoin. If a company like google came out though and implemented their own currency, exchange etc it could be a wild success.
Title: Re: The End Is Near Post by: Francesco on May 05, 2013, 09:49:59 PM There is no current competing currency that could scratch bitcoin. If a company like google came out though and implemented their own currency, exchange etc it could be a wild success. That's the problem. Just figure if Apple created its own iCoin: it would sell for 4x the price of Bitcoin from day 1! ;D Title: Re: The End Is Near Post by: Jutarul on May 05, 2013, 10:04:10 PM it's a little of both. Transaction volume is finite. Even if you'd be able to do 1 GB blocks, you'd still have to solve the "spamming" problem, which means that you want to discourage someone from hijacking the blockchain for purposes other than the original intent at no charge. Traditionally a transaction fee has served as a way to prevent this, but the way it is implemented in bitcoin, it suffers from the deficiency of not taking into account ALL costs of a transaction (future+current). So again - it's not a scalability issue, it's a problem with accounting for the true cost of a transaction. Introducing bigger blocksizes before the underlying problem (transaction fees) is solved, will only augment the devastating effect of the externalized cost of uneconomical outputs. However - mining is a majority process. As long as there is no hard rule (and a hard rule for transaction fees is NOT trivial), then all you need to do is to include a sufficient bribe for your dust output. Some miners will include it at the expense of the future mining community (I am not advocating this, just stating reality). Title: Re: The End Is Near Post by: Hawker on May 05, 2013, 10:05:55 PM There is no current competing currency that could scratch bitcoin. If a company like google came out though and implemented their own currency, exchange etc it could be a wild success. That's the problem. Just figure if Apple created its own iCoin: it would sell for 4x the price of Bitcoin from day 1! ;D Yes 0 - from day 1 until they decide that it's not worth the regulatory headache and they kill it. The fools who follow Apple or Google then lose their shirts. Bitcoin is genuinely free. It can't be killed. That is one reason it has value. Title: Re: The End Is Near Post by: arepo on May 05, 2013, 10:20:16 PM So again - it's not a scalability issue, it's a problem with accounting for the true cost of a transaction. Introducing bigger blocksizes before the underlying problem (transaction fees) is solved, will only augment the devastating effect of the externalized cost of uneconomical outputs. exactly, it's a scaleability issue regarding the economic incentives of the protocol. but we are in agreement -- it's not a fatal scaleability issue that is protocol-inherent. Title: Re: The End Is Near Post by: huggybear on May 05, 2013, 10:32:39 PM I know, this forum is full of sheeple who r unable to see beyond their dogmas. ok, i just couldn't resist to read the reply. Pls tell me, when did you have your illumination? Title: Re: The End Is Near Post by: w00t on May 05, 2013, 10:42:10 PM I know, this forum is full of sheeple who r unable to see beyond their dogmas. ok, i just couldn't resist to read the reply. Pls tell me, when did you have your illumination? Forget about him and please share your personal troll list here: https://bitcointalk.org/index.php?topic=196301.msg2041108#msg2041108 (https://bitcointalk.org/index.php?topic=196301.msg2041108#msg2041108) Title: Re: The End Is Near Post by: Crypt_Current on May 06, 2013, 12:13:58 AM For the others who will put me into their ignore lists: Do it silently plz, I don't really care. I know, this forum is full of sheeple who r unable to see beyond their dogmas. I'm actually going to make you the EXCLUSIVE, ONE AND ONLY MEMBER of my own personal ignore list, and I want to do it AS LOUDLY AS POSSIBLE, just because your posts piss me off than a lot of other trolls on this board and asking to ignore you quietly was just one step over the line. You probably lost a lot of money trading because you thought you were smarter than you actually are. Tragic, but now immortalized. You can lessen this tragedy by walking away from the Interwebs and maybe consider working with animals or something. Title: Re: The End Is Near Post by: solex on May 06, 2013, 12:23:03 AM You probably lost a lot of money trading because you thought you were smarter than you actually are. Touche. Came-from-Beyond probably loaded up with BTC at 10c and sold it all at $10, feeling very happy for a brief period. But then, shock horror, it keeps going up! So he has been grinding his teeth watching it climb well over $100. Talking it down is the last throw of the dice to get back in at $10. Title: Re: The End Is Near Post by: Come-from-Beyond on May 06, 2013, 07:22:29 AM I'm actually going to make you the EXCLUSIVE, ONE AND ONLY MEMBER of my own personal ignore list, and I want to do it AS LOUDLY AS POSSIBLE, just because your posts piss me off than a lot of other trolls on this board and asking to ignore you quietly was just one step over the line. Hehe. I just wanted to save space of this thread. But I like the exclusive status, thx. You probably lost a lot of money trading because you thought you were smarter than you actually are. Not really a lot, I registered on this forum after I had bought bitcoins. They were $2 those days, so I made a fortune actually. Title: Re: The End Is Near Post by: Zaih on May 06, 2013, 08:03:47 AM Yeh yeh walk it out buddy.
Don't bring your distaste to the speculation forum! Pfft, who does that?? Title: Re: The End Is Near Post by: Come-from-Beyond on May 06, 2013, 08:13:57 AM Yeh yeh walk it out buddy. Don't bring your distaste to the speculation forum! Pfft, who does that?? Hell, I started this thread in Bitcoin Discussion. Someone moved it here. Title: Re: The End Is Near Post by: wobber on May 08, 2013, 09:34:00 PM Save 2 coins at least. Hell, 10 if you afford it right now.
If you ever need money urgently, you'll have some there. Title: Re: The End Is Near Post by: Matthew N. Wright on May 08, 2013, 09:35:45 PM If you ever need money urgently, you'll have some there. No, he'd have bitcoin, and I doubt many in urgency of needing money are aided much by having bitcoins. Title: Re: The End Is Near Post by: wobber on May 08, 2013, 09:37:40 PM If you ever need money urgently, you'll have some there. No, he'd have bitcoin, and I doubt many in urgency of needing money is aided by having bitcoins. Yes. Correct. But he would have some value stored there and he could sell like in 2 days. If you're gonna counter argument that BTC might fail, pls don't use it. Title: Re: The End Is Near Post by: Matthew N. Wright on May 08, 2013, 09:39:45 PM If you ever need money urgently he could sell like in 2 days. Title: Re: The End Is Near Post by: Welsh on May 08, 2013, 09:41:37 PM Currency takes years to establish, you may say '4 years really?' but that's nothing, I guess people are wise to cash out now, whilst it is still pretty high.
However, without faith, bitcoin will slowly die out. I for one, willv remain with bitcoin, even if it goes down to $1/1BTC, because I know in my heart it would rise again. Then I would be laughing. Title: Re: The End Is Near Post by: Come-from-Beyond on May 08, 2013, 09:43:02 PM I can't pay even for hosting (have to reopen my VISA) or for game-time (gave cash to my friend so he paid using his VISA). If I could pay for something with Bitcoin I would leave the coins in my wallet, unfortunatelly I couldn't...
Title: Re: The End Is Near Post by: Matthew N. Wright on May 08, 2013, 09:43:38 PM I for one, willv remain with bitcoin, even if it goes down to $1/1BTC, because I know in my heart it would rise again. It doesn't need to rise again. $1/1BTC is fine. Frankly, I'd be more inclined to trust it as a regular payment method at that mark. Title: Re: The End Is Near Post by: wobber on May 08, 2013, 09:50:20 PM I can't pay even for hosting (have to reopen my VISA) or for game-time (gave cash to my friend so he paid using his VISA). If I could pay for something with Bitcoin I would leave the coins in my wallet, unfortunatelly I couldn't... I have a server but I'd have to set up PHPmyadmin and all. You could pay me monthy if you'd want. Title: Re: The End Is Near Post by: HappyBitCoinUser on May 08, 2013, 09:55:32 PM I guess its easier to laugh at the OP rather than face the truth.
Title: Re: The End Is Near Post by: wobber on May 08, 2013, 09:57:36 PM Who laughed? I just proposed something to him.
Title: Re: The End Is Near Post by: BTC Books on May 08, 2013, 10:10:44 PM I guess its easier to laugh at the OP rather than face the truth. That may be, from your perspective. From mine, it is rational (and therefore easier) to do both. Title: Re: The End Is Near Post by: Come-from-Beyond on May 08, 2013, 10:36:55 PM I can't pay even for hosting (have to reopen my VISA) or for game-time (gave cash to my friend so he paid using his VISA). If I could pay for something with Bitcoin I would leave the coins in my wallet, unfortunatelly I couldn't... I have a server but I'd have to set up PHPmyadmin and all. You could pay me monthy if you'd want. Thx, but I prefer Hetzner. Title: Re: The End Is Near Post by: Come-from-Beyond on May 08, 2013, 10:39:16 PM I guess its easier to laugh at the OP rather than face the truth. That may be, from your perspective. From mine, it is rational (and therefore easier) to do both. This statement makes no sense. R u trying to troll? Title: Re: The End Is Near Post by: gambit1 on July 15, 2013, 08:38:16 PM I wouldn't have cashed out Came-from-beyond. We ain't seen nothin' yet.
Title: Re: The End Is Near Post by: allwelder on June 02, 2014, 03:12:47 PM ...
Title: Re: The End Is Near Post by: foxbat on June 02, 2014, 04:01:05 PM agree， i have loaded with of NAS.
Title: Re: The End Is Near Post by: spazzdla on June 02, 2014, 05:41:35 PM Interesting necro. I for one enjoy any necro'd thread. It gives a 'snap shot' of that given time. Me too, HODL at all costs ignore the haters. Title: Re: The End Is Near Post by: DolanDuck on June 02, 2014, 07:23:16 PM Interesting necro. I for one enjoy any necro'd thread. It gives a 'snap shot' of that given time. Me too, HODL at all costs ignore the haters. I'm holding most of my bitcoins since the last two bubbles and I've tried to trade the smallest part. The smallest one now is so tiny that it have no value, but the largest... Title: Re: The End Is Near Post by: Istanbul34 on January 13, 2015, 11:31:01 AM Title: Re: The End Is Near Post by: alxx77 on January 13, 2015, 11:33:32 AM No, it is movin' backwards to gamma ;D
Title: Re: The End Is Near Post by: ThomasVeil on January 13, 2015, 01:51:46 PM Please Bitcoin guys: Get your act together! You're ruining it for the rest of us.
Title: Re: The End Is Near Post by: NotLambchop on January 13, 2015, 02:00:19 PM :D Title: Re: The End Is Near Post by: picolo on January 16, 2015, 01:42:14 PM People lost their faith in Bitcoin. The rise of competing altcoins (https://bitcointalk.org/index.php?topic=193445.msg2034882#msg2034882), govt regulation, shutdowns of exchanges, frozen bank accounts, recent crashes called "fluctuations", black PR. More than 4 years have passed since the launch and Bitcoin is still far from world-wide adoption. In our fast-paced world 4 years is too much time. Those who familiar with Bitcoin see other worrying indications - price manipulation, inability of core devs to solve technical issues related to scalability (https://bitcointalk.org/index.php?topic=193445.msg2039853#msg2039853), centralization, successful attempts of some persons to regulate Bitcoin. For me it's obvious now that The End Is Near. Bitcoin failed, time to move on... False believers lose their faith in Bitcoin but not real believrs and new believers arrive everyday There are no competing altcoins Governement regulation has been decent for Bitcoin mtgox and the stamp hack are bad, yes but nothing we can't recover from frozen bank accounts : bad fiat bank account regulation is good for Bitcoin in the long term perspective crashes are not good but nothing we can't recover from Adoption is growing 4 years is not too much time! We already have a 2.5 Billions market cap! All markets are "manipulated", they can still rise long term with sometimes healthy crashes Title: Re: The End Is Near Post by: Mirsad on January 16, 2015, 01:50:56 PM False believers lose their faith in Bitcoin but not real believrs and new believers arrive everyday Every ponzi needs new believers. Keep faith. I want to profit as much from bitcoin as possible. Don't ask, just buy. Title: Re: The End Is Near Post by: ravenjt on January 16, 2015, 01:55:15 PM Every ponzi needs new believers. Keep faith. I want to profit as much from bitcoin as possible. Don't ask, just buy. Are you like the world's most honest person? Title: Re: The End Is Near Post by: NotLambchop on January 16, 2015, 02:06:53 PM Title: Re: The End Is Near Post by: Mirsad on January 16, 2015, 02:18:03 PM Are you like the world's most honest person? Probably. You can bet on that @ bitbet.us Or you can short BTC. It is up to you. Title: Re: The End Is Near Post by: Come-from-Beyond on February 04, 2015, 08:19:38 PM http://www.dfs.ny.gov/legal/regulations/revised_vc_regulation.pdf:
Quote Section 200.15 Anti-money laundering program (a) All values in United States dollars referenced in this Section must be calculated using the methodology to determine the value of Virtual Currency in Fiat Currency that was provided to the Department under this Part. (b) Each Licensee shall conduct an initial risk assessment that will consider legal, compliance, financial, and reputational risks associated with the Licensee’s activities, services, customers, counterparties, and geographic location and shall establish, maintain, and enforce an anti-money laundering program based thereon. The Licensee shall conduct additional assessments on an annual basis, or more frequently as risks change, and shall modify its anti-money laundering program as appropriate to reflect any such changes. (c) The anti-money laundering program shall, at a minimum: (1) provide for a system of internal controls, policies, and procedures designed to ensure ongoing compliance with all applicable anti-money laundering laws, rules, and regulations; (2) provide for independent testing for compliance with, and the effectiveness of, the anti-money laundering program to be conducted by qualified internal personnel of the Licensee, who are not responsible for the design, installation, maintenance, or operation of the anti-money laundering program, or the policies and procedures that guide its operation, or a qualified external party, at least annually, the findings of which shall be summarized in a written report submitted to the superintendent; (3) designate a qualified individual or individuals in compliance responsible for coordinating and monitoring day-to-day compliance with the anti-money laundering program; and (4) provide ongoing training for appropriate personnel to ensure they have a fulsome understanding of anti-money laundering requirements and to enable them to identify transactions required to be reported and maintain records required to be kept in accordance with this Part. (d) The anti-money laundering program shall include a written anti-money laundering policy reviewed and approved by the Licensee's board of directors or equivalent governing body. (e) Each Licensee, as part of its anti-money laundering program, shall maintain records and make reports in the manner set forth below. (1) Records of Virtual Currency transactions. Each Licensee shall maintain the following information for all Virtual Currency transactions including involving the payment, receipt, exchange or conversion, purchase, sale, transfer, or transmission of Virtual Currency: i) the identity and physical addresses of the party or parties to the transaction that are customers or accountholders of the Licensee and, to the extent practicable, any other parties to the transaction; ii) the amount or value of the transaction, including in what denomination purchased, sold, or transferred; iii) the method of payment; iv) the date or dates on which the transaction was initiated and completed; and v) a description of the transaction. (2) Reports on transactions. When a Licensee is involved in a Virtual Currency transaction or series of Virtual Currency transactions, including transactions for the receipt, exchange, conversion, purchase, sale, transfer, or transmission of Virtual Currency, in an aggregate amount exceeding the United States dollar value of $10,000 in one day, by one Person, the Licensee shall notify the Department, in a manner prescribed by the superintendent, within 24 hours. (3) Reporting of Suspicious Activity. Each Licensee shall monitor for transactions that might signify money laundering, tax evasion, or other illegal or criminal activity and notify the Department, in a manner prescribed by the superintendent, immediately upon detection of any such transaction. (i) Each Licensee shall file Suspicious Activity Reports (“SARs”) in accordance with applicable federal laws, rules, and regulations. (ii) Each Licensee that is not required to file SARs under federal law shall file with the superintendent, in a form prescribed by the superintendent, reports of transactions that indicate a possible violation of law or regulation within 30 days from the detection of the facts that constitute a need for filing. Continuing suspicious activity shall be reviewed on an ongoing basis and a suspicious activity report shall be filed within 120 days of the last filing describing continuing activity. (f) No Licensee shall structure transactions, or assist in the structuring of transactions, to evade reporting requirements under this Part. (g) No Licensee shall engage in, facilitate, or knowingly allow the transfer or transmission of Virtual Currency when such action will obfuscate or conceal the identity of an individual customer or counterparty. Nothing in this Section, however, shall be construed to require a Licensee to make available to the general public the fact or nature of the movement of Virtual Currency by individual customers or counterparties. (h) Each Licensee shall also maintain, as part of its anti-money laundering program, a customer identification program. (1) Identification and verification of account holders. When opening an account for, or establishing a service relationship with, a customer, each Licensee must, at a minimum, verify the customer’s identity, to the extent reasonable and practicable, maintain records of the information used to verify such identity, including name, physical address, and other identifying information, and check customers against the Specially Designated Nationals (“SDNs”) list maintained by the Office of Foreign Asset Control (“OFAC”), a part of the U.S. Treasury Department. Enhanced due diligence may be required based on additional factors, such as for high risk customers, high-volume accounts, or accounts on which a suspicious activity report has been filed. (2) Enhanced due diligence for accounts involving foreign entities. Licensees that maintain accounts for non-U.S. Persons and non-U.S. Licensees must establish enhanced due diligence policies, procedures, and controls to detect money laundering, including assessing the risk presented by such accounts based on the nature of the foreign business, the type and purpose of the activity, and the anti-money laundering and supervisory regime of the foreign jurisdiction. (3) Prohibition on accounts with foreign shell entities. Licensees are prohibited from maintaining relationships of any type in connection with their Virtual Currency Business Activity with entities that do not have a physical presence in any country. (4) Identification required for large transactions. Each Licensee must require verification of the identity of any accountholder initiating a transaction with a value greater than $3,000. (i) Each Licensee shall demonstrate that it has risk-based policies, procedures, and practices to ensure, to the maximum extent practicable, compliance with applicable regulations issued by OFAC. (j) Each Licensee shall have in place appropriate policies and procedures to block or reject specific or impermissible transactions that violate federal or state laws, rules, or regulations. (k) The individual or individuals designated by the Licensee, pursuant to Paragraph 200.15(c)(3), shall be responsible for day-to-day operations of the anti-money laundering program and shall, at a minimum: (1) Monitor changes in anti-money laundering laws, including updated OFAC and SDN lists, and update the program accordingly; (2) Maintain all records required to be maintained under this Section; (3) Review all filings required under this Section before submission; (4) Escalate matters to the board of directors, senior management, or appropriate governing body and seek outside counsel, as appropriate; (5) Provide periodic reporting, at least annually, to the board of directors, senior management, or appropriate governing body; and (6) Ensure compliance with relevant training requirements. Congrats, Bitcoin is almost assimilated by the state. Title: Re: The End Is Near Post by: oblivi on February 04, 2015, 08:30:32 PM If Bitcoin fails all coins fail, lol at thinking NXT will make it and not BTC.
Title: Re: The End Is Near Post by: Come-from-Beyond on February 04, 2015, 08:33:40 PM If Bitcoin fails all coins fail, lol at thinking NXT will make it and not BTC. Bitcoin Foundation licks all asses in the USA senate. Keep loling, it's the only thing that you can do now. |
