+1

GOverments are just prolonging and holding off the inevitable collapse of the debt-based banking system. The elites running the banks and governments know about this and they have pulled their money out of fiat and into gold, commodities, land ie real assets but they needed the people to continuing believing in the system, giving out 0% interest loans, telling them to spend, buy bonds, securities etc. They just cannot afford to let the people realize that the whole debt-based banking system is actually the biggest scam in all of history.

up. don't watch the price everyday. check it once a year

Wrong. Bitcoin is or can be money (it's fungible, transactable, and has a value). But to me Bitcoin is more an asset, a store of value, rather than a currency. Bitcoin is entire independent, if bitcoin were to be affected by external markets that's only because the people thought it to be. But by its very nature, Bitcoin is absolutely independent and decentralized.

No, post count doesn't indicate value but it does make one think that perhaps one just created a new account just to troll for fun. Experience, and how early you know about bitcoin and the foremost 'go to' bitcoin forum can show whether one should be taken seriously or one should be ignored for sake of trolling. A forumer with 1000 post count has been around far more than a forumer with 1 post count and that itself is already value in terms of commitment and contribution to the forum, whether right or wrong.

the current system of money we have now is based on debt. in fact the whole world economy now runs on debt. debt is what keeps the economy growing, but this system is unsustainable and will sooner or later collapse under its own weight. Prices of goods, housing, food - the bare necessities - are rising because the value of fiat is getting smaller. That's inflation for you. The US debt can never be repaid - it will just continue growing bigger and bigger for as long as creditors let it be. When creditors put their foot down and say, "pay me now!" the US can only print more money to repay them, which in turn will flood the markets with even more money, driving the value of the dollar down and prices of things up even more. It's a never ending vicious cycle to an ever deepening bottom from which we can no longer get out of.

yep, confirmed not only shallow but juvenile too, resorting to childish retorts. Get back here when you grow up, this is too deep for you.

I'm beginning to realize you are too shallow to follow this discussion. Shares in some dead artist's paintings replacing gold? smh. You must be one of those folks who think Bitcoin is just 'magic internet money'

Just take the zimbabwean dollar crisis. The people have no trust in their own currency anymore, no matter how the government tried printing and telling them look, this zimbabwean dollar note is worth this much. The people just don't think it's worth as much, cause nobody else thinks it's worth as much, so there's no value at all, even though it's officially money

If gold is becoming obsolete, it's because eventually it'll be digitized. Bitcoin can easily replace physical gold in terms of its function as a store of value

Well touché. But you're wrong, it's different. Here's why: for fiat, say a 1 dollar note is worth 1 dollar. for Bitcoin, one btc can worth 100, 1, 1000, 1000000 dollars. It's not up to me to think how much a btc is worth and that's how much it's worth. With fiat, if I have a one dollar note, I know it's worth one dollar and anyone else I trade that one dollar note to knows it's worth one dollar. And that one dollar note is worth one dollar because it's printed to be a one dollar note, decided by the government. Capisce?

Fiat is only guaranteed by people, nothing else. Fiat have a value only because people believe it has a value. When the people no longer believe in it, it will have no value. That is why banks and governments are trying so hard to kill Bitcoin. For when the people start to realized the paper money they're holding is only worth as much as what they think it to be, not the number printed on it, not how much of it was issued, then that would be the end of it. While governments can control their people's thinking and their printed out-of-thin-air fiats, they cannot control Bitcoin. And that's the ultimate fear of governments around the world, for power is nothing without control.

All hail the BearWhale Slayer  

Though I suspect that lots of little people (the community), would be more aptly depicted instead of just one single hero person.

That isn't the same as bitcoin mining, your Volkswagen analogy. That's doing for the sake of doing things repeatedly, and that is indeed stupid and inefficient. While for the mining of bitcoin using cryptography,  the millions and millions of hashes are required to find the right hash function to solve a block to be able to give out bitcoins. Brute-forcing is the only way to go, as long as cryptocurrencies are based on, duh, cryptography.

The trust issues regarding the fundamentals of bitcoin, to me, is not as sacred as you implied that if developers change Bitcoin's fundamentals all trust would be lost. If people have trust in it, people would just accept it. Take the hard fork of March 2013. Majority of miners agreed to the fork and the problem was solved and it's business as usual. Unless you want to speculate on other cryptos for extra monetary gains, or have personal principles (such as the PoW system being energy wasting) against Bitcoin, by all means get out of and go into the others, but Bitcoin is not going to disappear or be abandoned, not for the reasons you cited.

Money should be cheap if only to encourage spending. And to be honest I personally do not see Bitcoin as currency as much as a store of value. Which is why I don't really feel appropriate calling Bitcoin a cryptocurrency. It's more like digital gold. Like gold, you don't use your gold to buy stuff, you sell your gold for fiat to buy stuff.

It's unlimited which means it's no different than your traditional fiat money which is inflationary


dodge is no different than any other altcoins, be it sha2/scrypt/custom-coded, it that it is still and will forever be an altcoin. In the world of cryptocurrency, it's just Bitcoin (the first, the one that created the term cryptocurrency) and altcoins (the rest, cryptocurrency clones that will always be based back to Bitcoin). Unless someone can come up with a form of decentralized money that is not categorized as cryptocurrency, then there is a difference and a distinction. Any other coins that uses the Bitcoin solution of trust (the blockchain, the public ledger solution) is just copycats of Bitcoin.

I never said 300 is the cost of production. actual (legitimate and normal)production cost of one single btc is about 520-550. Miners mine at a loss, much less profit, anything below 500, so your out-of-thin-air claim miners can still profit at double digits not only shows your own lack of research but also your stupidity, and I might also add, your trolling.

OP, I fully understand where you're coming from, what with bitcoin being extremely environmentally wasteful, but that may be necessary to give it a base value, if nothing else. You need something like a production cost assigned to it, so there can be a reference to its fundamental value. With PoW mining , while primitive, it at least has a direct way to assign a production cost to it: electricity.

But however better cryptocurrency can be improved, it's not that there aren't alt coins that have better solutions and better technology than bitcoin, yet they still don't and can't overtake much less replace bitcoin. There's also the adoption and infrastructure, which is what really gives bitcoin its value. Bitcoin's first mover advantage really can't be simply overlooked or dismissed. The solution is not to create another alternate coin, but to just fully concentrate on Bitcoin and how to evolve it to be something better.

not going to back that range i'm afraid. just barely touching 350 maybe but most definitely not 300 anymore. sigh like you i've exhausted all my funds and would like to get some more cheap coins but good times don't last. still, 400 is still fundamentally cheap if you base it on the actual production cost and not the supply and demand market.

Price was manipulated so that whales can get in on the cheap, then manipulated again to go up so whales can cash out on the high. Whales can and will do that that's how they make money. Actually that's how anyone makes money. Buy low sell high. But for anyone to make money another one has to lose money. And for anyone losing money another one will be making money. So simple, yet so hard to get across some people.

Cause you're a bloody fool

I hope it won't leave just yet, bought in all broke at 300 but too addicted to 300, please, just one more round? I promised I'd stop