I would say Bitcoin isn't an actual form on money, more like virtual property that is traded in place of money.
How is it not an actual form of money? "Money is any object or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context." Bitcoin can be accepted as payment for goods and services, and repayment of debts in many countries and socio-economic context. Bitcoin is money. |
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I'm a 47 year old, white male. I was raised on a farm and have been a farmer most of my life and I graduated from high school in the 80's, before the internet. I have no further education than that. I also worked in a large steel mill for a lot of years, and still work in the steel industry today. I own Bitcoins. It's people of my demographic that are going to make or break Bitcoin. Adoption will happen but, it will be very slow unless people can get the message out there more. Most people I know have heard of Bitcoin but, know very little about it, and what they think they know is usually the bad stereotypical stuff.
It's nice that you own bitcoin, you're a totally different demographic than the usual internet geek who hopped on the train early, but I don't think at this point any particular group themselves will "make or break" bitcoin. Bitcoin will always find a level of existence at its reflective level of adoption. As of 2014, bitcoin belongs to the innovators, early adopters, internet geeks, and trading speculators. As more and more businesses open themselves to bitcoin, the adoption and technology will just keep on expanding. |
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Both Big Finance and Bitcoin are scheme/scam for sure, the only different is that Big Finances are sometimes able to get government support, Bitcoin is supported by bunch of what(college kids?)
Yes, and that's all it needs to survive. |
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Most people think that Ashton Kutcher is a dumbass because of his good looks and the fact that he plays a dumbass on TV... most people forget that he has a biochemical engineering degree and a VC investor in several successful startups including Skype and Spotify...
I think haters here are just jealous that he's young, good looking, and actually smart.
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Your poll is biased, you know that?
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Nope, too weird sounding. Bits is still better.
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Awesome design. I approve.
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OP: Bitcent in your current form is not future proof. An example that I've used time and again:
Suppose that one BTC = $100,000, and Joe blow wants to order a $5 cheeseburger in BTC. Here's a few different scenarios:
A. "That'll be 0.00005 BTC please."
B. "That'll be 0.005 Bitcent please."
C. "That'll be 0.05 mBTC please."
D. "That'll be 50 uBTC please."
E. "That'll be 50 bits please."
A, B, and C are eliminated right off the bat because nobody wants to recall how many zeroes they've put after the decimal.
This leaves us with reasonable D and E, but the word "bit" is far more marketable than "micro-BTC". Micro-BTC just doesn't roll off the tongue like bits does.
Your bitcent, or one-hundreth of a bitcoin, will become obsolete rather quickly once bitcoin's valuation rises several magnitudes.
The current consensus is moving towards a bit as a standard bitcoin transaction sub-unit, and satoshi as cent by implication.
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I seriously hope all of the Chinese exchanges close. After taking us to the moon, they've been nothing but poison to the BTC economy.
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Five years and over a million percent rise since inception, let me know when Berkshire Hathaway can do the same in fifty years.
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The amount of butthurt speculators is strong in this thread.
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We are talking about future proofing so let's make 1 BTC = $100,000 for easy math.
Suppose Joe blow wants to order a $5 cheeseburger in BTC. Here's a few different scenarios:
A. "That'll be 0.00005 BTC please."
B. "That'll be 0.05 mBTC please."
C. "That'll be 50 uBTC please."
D. "That'll be 50 bits please."
A and B are eliminated right off the bat because nobody wants to recall how many zeroes they've put after the decimal.
This leaves us with reasonable C and D, but the word "bit" is far more marketable than "micro-BTC". Micro-BTC just doesn't roll off the tongue like bits does.
For those who say we have MicroBitcoin already, it's not about us... we get it, we're fine. We're already invested into BTC. Get over yourself. It's about widespread adoption transcending mathematical literacy, and "bit" is the ideal solution concerning avoiding decimals as well as ownership psychology.
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The market has had 5 months to price this in already  Which means you ware caught by surprise a few times during the months, right? ( a really kind wink) I am not surprised even 1 time, because I predicted the saga by 9th Jan (China goverment will cripple bitcoin operation, posted on this forum) and I observed that this is not fully priced in till 11th April bottom (which I also predicted, on this sub-forum). I often find people tends to marginalize this world-most-wealthy-organization, like Chinese marginalize the Federal Reserve. PBOC has a vast ego like other top Chinese governments, However it's not my ego at work. I truly hope that: the day people don't care about China's news come earlier and that I found my knowledge of China useless. I try to be helpful: when I really think the next bottom is in I'll say that at the risk of being a bad fortune-teller. Don't waste your breath debating with these retards zhangweiwu. Time and time again your input has proven both insightful into the workings of Chinese culture and also into the implications that it has had on Bitcoin price. Anyone with their heads screwed on will value any comments that you have to make. Let the Kool-Aid heads drink Kool-Aid and suffer the hangovers of their own stupidity...again....and again...AND AGAIN... and again and again and again and again and again...........+1 |
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Agreed.
The negative psychology of owning fractions of a bitcoin is a real adoption barrier that needs addressing. It is one of the issues that dogecoin have successfully addressed.
Bit by default is the best way of dealing with scalability in the foreseeable future.
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Airdropping bitcoin into what is one of the most technically literate groups in the world is the perfect move.
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There is literally no fucking way they are lobbying anything in bitcoin's favor. Prepare for a fight.
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100,000,000 One Bitcoin
_10,000,000 Ten MEGAtoshi
__1,000,000 MEGAtoshi
____100,000 Hundred KILOtoshis
_____10,000 Ten KILOtoshis
_______1000 KILOtoshi
________100 Hundred Satoshis
_________10 Ten Satoshis
__________1 One Satoshi
+1 This is a good system that lets people feel they have many units in their wallet without turning the nomenclature upside-down. Very Doge. |
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Buy it back soon, or get left behind:  You can forgive yourself for losing a couple of thousands, but you will never forgive yourself for missing out on millions. We are in the eye of the storm. You can choose to sink or ride it out. Can you please post this chart again with current prices on it. Sure.  |
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Buy it back soon, or get left behind: You can forgive yourself for losing a couple of thousands, but you will never forgive yourself for missing out on millions. We are in the eye of the storm. You can choose to sink or ride it out. |
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