Early adopters are of course happy with the value rising to what it is today, there is no question about that whatsoever.  However, other than a select few, most of them didn't really invest a lot of money into Bitcoin, they just bought at a super low price or mined.  Things are different now though, as the latest investors who learned about Bitcoin and bought in at $1,000 forked over large amounts of money for their Bitcoins.  If it continues to stagnate for too long, they are going to give up.  And if the only people to benefit from Bitcoin were the early adopters, Bitcoin is going nowhere, and all this "Ponzi/Pyramid" talk will be justified.  So yes, I think the stagnation is a bigger deal than people want to admit, something needs to happen soon.  

To answer OP's question, I think Bitcoin's fate rests in the hands of companies like Bitpay or Coinbase, and of new IPO trusts like Winklevoss's and SecondMarket's.  2014 is going to be the big year for them, as they are the ones that have the power to push Bitcoin to it's next plateau.  I think 2014 is the "make or break" year for Bitcoin.  Because if it fails in 2014, another cryptocurrency is going to replace it before it has time to recover.  

So you mean all those documents stolen from the nsa are paranoia and made up things?

Did you read anything I just wrote?  Like maybe these lines:


Would be super if someone could get what im asking, and provide a response to it.

hello,

Just wondering, can you really get free bitcoins?  I can understand how that was possible even 6 months ago but who would give away bitcoins today?

cheers

mezzie

Sorry about that. I'm tired too, so I'm probably rambling.
Referencing my thoughts several posts ago, one of the methods used in destroying bitcoins involved manipulating the internet links between countries.
By separating the bitcoin network, you can create a fork in the blockchain.

However, each "forked" blockchain has a copy of the historical transactions that occurred before it got forked.
So you, as an entity out to destroy bitcoin, have several addresses with a few BTC each in them.
You then split the network.

During the time of the split, your addresses spend, transfer, do many transactions - etc, with each other and various merchants.
However, your addresses do this in more than one "forked" location, and each "forked" location will have different transactions.
You let your transactions confirm, then remove the disturbance.

Now, you have several different blockchains of various lengths, with many different transactions competing to be the real blockchain.
No matter which one wins, transactions on the losing blockchain will not be reflected - hence everyone on the losing blockchain will be upset.
Especially if they take a monetary lost. (The reason for having many accounts enacting transactions is to prevent any easy manual repair/syncing - hence all the transactions taken in each "forked" blockchain must be different)

Hi.

I'm the original poster.

I am not complaining that the price isn't going up.

I am stating that I don't understand *how* it will go up.

I personally feel that human beings on the whole, don't continue buying something that is $2000, $5000, $10000, $100000 per piece.

So im wondering what will facilitate the price to reach these levels.

mBTC theory is one theory.  But I am not convinced that will be sufficient.  As someone already pointed out - people have a major mental block with buying 0.000X of something.

More importantly, why would mBTC mean an increase in price?  People can buy mBTC at $800 per bitcoin too.  Right?

I have my doubts that Bitcoin will ever go up from $1,000ish, only because I can't think of what would cause it to.

Bitcoin isn't "Scarce" when its divisible to the "millionths" of a decimal.

So what is stopping Bitcoin price from sitting right here at $1000ish forever, as people just buy mBTC's worth at the $1000 price for a whole bitcoin?

That is what I was trying to ask in my original post.

Something outside of the buying and selling trading market would have to catapault BTC to $10,000 per coin.

But for the life of me I can't think of what that element would be.

Maybe winklevoss trust, etc ... where people can buy whole shares in Bitcoin.  Maybe that's the thing which will enable it.

Pretty much none of the responses above addresses my original question.  Sorry if i wasn't being clear.

-Burger-

stompix, religion was the inspiration mainly for the medieval, Gothic and early Renaissance artists. For example, Fra Angelico was deeply religious, and through his genius he was able to express it in his paintings. Late Renaissance was different.

Good point .. most of those guys have lived in a fairy-tale manipulated cotton-wool markets.

They are gonna be handed heads on plates when they enter a real free market ... bitcoin is some wild-ass shit when it comes to trading that is for sure. Not to mention you never know when the whole exchange is going to disappear from under you ... they think it is easy ... uh-huh, fresh meat

if i break trust, it will contradict my next plan to launch exchange site (cryptsy, mtgox).
Being revealed my identity, police and lawyers can find me easily. they're nasty

I want it to be like startup investment rather than collateral loan even though it looks like loan.
Apple, google, facebook born this way. right?. i will wait for brave and smart angel investors.
i just got afraid of loosing time and someone will start it before i begin.

Malthusian BS nonsense. The carrying capacity of the earth is 100s of billions. The problem is technology is held back by governments, cartels, and the resistance of the people who can't upgrade their knowledge fast enough.

China in particular was isolationist and did not upgrade its agriculture and other technologies fast enough and substituted technological solution with 57 million genocide in the Cultural Revolution.


Good to see you fallen for CNN's Ted Turner's Georgia Guidestones propaganda.

Not really, I mean, people are still farming lite-coin and feather coin aren't they?
What purpose do those two coins serve other than its easier for non-ASIC users to mine; so they can trade them for bitcoin?
Similarly, even if something better than bitcoin comes out, people might still mine it in hopes of trading for that new currency.

As the question was how to destroy bitcoin, you'll also have to destabilize the network to get people to move on.
Having 1000 separate accounts sending money to one other (different amounts) when you fork the network in several different countries would be a good start.

Especially if you spend the money in your home country. Can you imagine the confusion and anger the merchants would have when their payment is unconfirmed/never existed since the block chain it happened on happened to be shorter than the longest chain?

What's wrong with the pussy and the humor?
I don't find anything wrong with it.
Duh.

Are you ashamed of the word ''pussy"?

Thinking of something that would mimic the sentiment at the Urbino court during the late 15th-early 16th centuries. What really inspired people like Piero della Francesca and Raphael?

the more people buy things with bitcoin like tesla cars the more the price should go down.... they are exiting the market and their coins are being converted to fiat so that means they are unloaded onto an exchange somewhere.

If i had something virtually worth between 3 - 10 btc, i could have convert them to BTC, no need to ask loan obviously.
Bank asks big property in collateral, too hard for young people like me.
I will provide my photo of citizen identity card, current address, contact information, bank account
Lender will have full control over my VPS servers (root privilege) at least. can see what's going on inside.
Lender can hire me as a worker for his/her project.

Please make this public so that others can see trust in you

Guys, I respect your views.
However, please don't make this a discussion thread whethe you believe in it or not.
I'm sure the parents and doctors have spoken about it greatly and this really is the last resort.
In addition, I'm certain the parents wouldn't force anything on their dying son without discussing it with him first. Yes he's 6, but he understands that's he's sick, and I'm pretty sure he's able to make a decision over a small chance he has of living and dying.
THIS IS NOT AN APPEAL.
$92k has already been donated for his treatment.
Whether you believe in it or not, this is the child's only hope, and I'm sure if anyone here was in the same or similar situation (which should never happen), I'm sure you'd all do the same.

Thanks