In every other scenario bitcoin will survive.
Not in the useable form, no. Once businesses switch to some other currency and most funds flow out of bitcoin, it is not raising again. Sure some people will have it running for a while, but it is not coming back from $10, not anymore. That would mean most investors and businesses completely lost faith and cashed out. After that, only a matter of time until the slowpokes of the world catch the drift. business don't generally involve themselves with forex, store of value etc, so retail is only the small portion of BTC. Having said that I accept tha something like PeerCoin may take the store of value part away |
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I want some 10$ Bitcoins.
Why would you want $10 BTC? If BTC goes $10 then it will kill bitcoin. I'm waiting for "The chart" since this analysis is based on it  actually no it wouldn't kill bitcoin at all....inmho. |
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in any event it may be an action some entity might want to take......
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This is bitcointalk.com ffs, be thankful you even have a forum.
I think that "bitcoin" means more or has come to mean more than just "bitcoin". The open source nature of this for one leans towards that conclusion secondly bitcoin has or us becoming a term of common use, like "hoover" or. the reason alts board was created was to keep alts of the other boards, so it not by choice that BTCtalk gave alts a board. Atls board was by force of demand. |
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Perhaps we should see how much BTC it would take to make it happen. I think a small amount would be fair compensation for the amount of demand on the servers the altcoin section is generating.
the forum is swimming in BTC, the last thing they need is more of it, I mean theymos is actively trying to have others hold it for him, and I don't blame him, in fact a very rational idea. Most forums would kill for this kind of activity..... the main opportunity here is for btctalk to cement its position as a gateway to CC's giving sage and timely views. Rather than doing a myspace. |
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The free and libertarian bitcoin die hards are all for freedom of currency and exchange....until it threatens their own public interests.
LOL such shallow hypocrisy.
sorta yeah... a pity as they could see it as a chance to give a guiding hand, by having good pinned threads at the top, gained from years of experience. |
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It sorta looks like alts, are getting more views and threads than anywhere else in btctalk and its kinda obvious why as well as doubly ironic, given the stance on this subject by our betters.
they really really need some child boards for alts, I *know* some of the arguments against, but seriously it has to happen.
[EDIT] and it has happened !
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A recent post from Reddit made me aware of that Bitcoin’s biggest flaw and threat which could crash the entire system, including the Bitcoin price, is now more current than ever. The threat is becoming even more real after months with Bitfury ASIC mining pool GHash.io gaining more and more hashing power. Now let me explain what is going on. Read the full story here: http://www.cryptocoinsnews.com/2013/12/26/biggest-flaw-bitcoin-crash-entire-system/What do you think of the threat that GHash.io is for the Bitcoin community? yawn PeerCoin solves this, and other pos |
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if bitcoin could be considered an form of written expression, sort of like a book, pamphlet, or ticket, would it be protected under US 1st amendment free speech constitutional rights?
Eg you can sell a book on say computer code, poetry of whatever for how much you want, and what another person will pay for it.
When some one gives money for a bitcoin the are giving money for a counter-party to change the expression of the block chain to a new form. The blockchain would be the form of expression in question.
It may seem the right of freedom of speech in the form of the blockchain, may have constitutional protection. Indeed one wonders if AML legislation can sound/stand against this.
Consider that bitcoin is not a recognized currency of the US or any other state that may gain various treaty rights. So how would AML stand up against the fact I wish to pay money for a form of data to another person and sell data in a particular form to another person.
My understanding that certain forms of encryption have been banned for export in the US history, but the blockchain does not fall under any of the exceptions and seem to gain some strength from American Civil Liberties Union v. Ashcroft (2002).
This would force the US the legally recognize BTC as a currency, and thus perhaps gain some power from other heads of power in constitution to regulate it, that pertain to currency, or not recognize, which means it would not be able to institute AML provisions, as among other things free speech provisions could be used to strike it down. Either way a win for BTC.
I would be interested in others views.
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Governments are generally able to attack centralized institutions (like other governments, companies, singular leaders, etc) rather well but they tend to be rather inept at killing decentralized global networks even when they waste forty years and a trillion dollars trying to do it.
They don't need to spend any money to stop bitcoin replacing fiat in the long-run. They just make a new law saying any ISP suspected of allowing Bitcoin related traffic will be shut down. Bitcoin would then truly only be a currency for 'criminals', the price would crash and mass adoption would be almost impossible. The one world government? A government may do that and innovation and technology will simply flow to where governments are more realistic in their regulation. I don't think cryptocurrencies will replace national fiat but they will coexist. The genie can't be put back into the bottle. Stilll the global money supply is on the order of $75T (M2) so even if Bitcoin grew to support a $500B money supply (the number from the OP), it is a rounding error and thus hardly is a danger that it will replace all national currencies. I always thought CC's /Bitcoin~PeerCoin were going after a much larger cap/target that the global monetary supply rather many of the other asset classes as well. now where's that picture gone  |
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Well governments around the world allow Google which has near 350 billion market cap so yes, why not?
Except that crypto doesn't want such government interference as those imposed on transnational companies such as google. Main conflict here is that governments are only willing allow things to grow if they get a slice of the action and is ultimately in control. What, does crypto have a standing army? no crypto has your countries standing army, see when you can't pay your standing army any more or buy provisions due to people wanting crypto not paper/fiat, how exactly are you going to get your army to work? |
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500 Billion is not much.
try 21T
thats more of a figure you should think about
Govt's have no choice in this
to much money on the table
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alias do not work for me this really really really sux
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so sold at 9 went to buy back at 7, couldn't login to dgex
thats one way to screw traders
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Someone has to open a bernankoin exchange called the federal reserve With interest on deposits and fractional reserve I hope  shouldn't difficultly go down with more miners printers
Network would be unsustainable and basically DDoS itself because of too many blocks per second. Anyway it looks like it's hard to get to diff 8/QE3 - perhaps Primecoin wasn't the best base for this. Not enough printers! isn't that the point, US would be unsustainable and basically DDoS itself because of too many $$$$ per second. |
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Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.
Or it becomes the myspace of cryptocurrencies.  it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin. you should compare it with TCP/IP, http, UDP, FTP, etc. it might, eg pow very energy consuming vs nxt, emunie or peerCoin. also much less features. Also myspace was a protocol, being a form of information arrangement for receiving and responding to if as many people would use peercoin are any other trashcoin they would need more energy than bitcoin would. Bitcoin (or any SHA256 coin) has highly energy-efficient ASIC miners, and no other coin as ASICs yet (and some are even designed not to allow ASICs, or not have nearly as efficient ASICs, as a 'feature') However ASICs by design are more energy efficient. everyone on peercoin of NXT / Emunie would be much less power, they just run on your laptop, pos if fundamentally different to asic/POW you seem to be confusing security of confirmation and speed with the question of efficiency |
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Until bitcoin is recognized by most of the governments as currency/commodity you can forget about any other crypto, including litecoin.
ntx 2.0 and emunie 3.0, Seriously?
something like nxt and emunie look like they need a lot less recognition by govt to function, which makes them better by itself. |
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checked out nxt and at this moment, it is a bad hack, nothing more, with a rich featurelist to attract investors but with reliability much worse than a dogecoin. does not have even 0.1% of robustness of the bitcoin protocol. would not be surprised if that's the first protocol that would be actually hacked and exploited for profit, possibly giving other, solid, currencies a bad name. eating up bitcoin.. you must be insane really I am quite surprised by these valuations, true, this project should be worth thousands, not millions of dollars; but that's only because the owner completely screwed up emission. well no, the owner is first to market with a complete pos system that is not on code base of btc, look to ripple for the value of this the "emission" is fine as 2^n lets it spread out it is doing 2000 BTC volume in trade a day |
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Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.
Or it becomes the myspace of cryptocurrencies. it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin. you should compare it with TCP/IP, http, UDP, FTP, etc. it might, eg pow very energy consuming vs nxt, emunie or peerCoin. also much less features. Also myspace was a protocol, being a form of information arrangement for receiving and responding to |
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