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If bitcoin was really about solving poor people problems, then it should have been distributed for free with all of them. But we all know that kind of approach would have never work.
Sorry, I do agree with you, was being sarcastic. |
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The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.
What country do you live in & [roughly] how old are you? Telling people they'll get rich if they just "keep working hard" is clueless, sadistic, or both. |
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did any of you consider scenario where mass adoption leads to massive price decrease?
... You can't trust the poor with money--it's a scientifical fact. |
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The people who own the coins if it ever reaches ten k will not be the people owning them now!
Of course not. I sold most of mine on the way up to 1k last year. There are no hodlers--only people claiming to hodl. |
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Who are these extremely poor individuals that know how to set up very specific complicated hardware setup that cannot afford electricity?
... The unbanked third-world poor who will benefit the most from Bitcoin  Good morning, gentlemen! Not necessary if it the prices are low, then they would be at losses too. I think hope The Reverend FatherBob was being sarcastic. |
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...Bitcoin is a gamble today, as it's fate is far from certain. However "tomorrow" (once it's fate has been established if it will be successful) then it will likely be a good store of value as it's price will have stabilized
Two unreasonable assumptions: 1. Bitcoin will succeed (many clonecoins have died) 2. Price will stabilize |
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...To be fair, it is possible to change the "program" (aka the protocol) to adapt to changes in the environment (aka fork the network). This has been done before and will almost certainly happen in the future. Modern money does not need to react quickly and can take it's time to change
The things that need to be changed, like rate of emission/inflation (block rewards/block reward halving rate) are very difficult to change through consensus. Miners won't want to make less coin just because some egghead tells them it's for the greater good. |
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...It is programmable, better money.
... That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed. The local paranoid fringe would have you believe that it's a good thing, but it ain't. Think of it as a clockwork guidance system: instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on. If something gets in its path, there is no way to avoid it, no way alter the course.Theoretically, it is possible: If the entire bitcoin network comes to a consensus. That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield. In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity. Modern money is more complex. It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm. The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite? Why spend years studying economics when a bit of horse sense is enough? The problem's it ain't  |
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...I would wager it did not address any points in my post though!
Yes, yes you would. And lose. As usual. Same boring shit, nothing worth mentioning, really. Imagine living in a world where you are purposefully deaf to all criticism. Now imagine this: 1. Ignoring someone 2. guessing what that someone said/didn't say 3. responding to that [ignored] someone, based on that [incorrect] guess. Only on bitcointalk, folks. |
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Interestingly though, some people like NotLambchop will always stay in a perma fear state of mind not matter what  Just a bit worried about you gentlemen. After listening to you sob for hours after the last "it just seems different different this time," can you really blame me? |
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...nothing major has happened.. but it just seems different this time and i can put my finger on it. anyone else getting that?
Sounds like you got food poisoning. Drink some ipecac & puke, just to be safe. |
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...I would wager it did not address any points in my post though!
Yes, yes you would. And lose. As usual. Same boring shit, nothing worth mentioning, really. |
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Ignore the Bears and trolls like NotLambChop...
No one has lost money by listening to me. Those who listened to you and held are now drinking to your health. MD20/20, from the neck, behind a dumpster |
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I'm shocked this is still around, for sure thought it was a scam awhile back.
What ever happened to that porn or cam site investment that guy was providing huge dividends returns for? Not the klye or other "startup" idea pitches. Did he end up being a scam?
Of course it did. Along with his "Appliance Store, legitimate offline business." |
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Bitcoin is also useful to me as a way to store value with no counterparty risk. I keep bitcoin stored in ways that will always be accessible only to me and those with whom I share it. I can access funds when I need to, and never have to worry about banking issues or capital controls...
Let's not gloss over the fact that your store of value has lost more than half of its value over the past year. Such store. Much value. Wow. I expect extreme volatility, and since first jumping into bitcoin in 2011, I said I'd give it *at least* ten years to develop before getting too demanding. So far fundamental development of the ecosystem (and price) have gone considerably better and faster than I expected. 3 years ago it was almost inconceivable that we'd have the current level of success by the end of 2014. To your point about not glossing over returns, I find my current returns of ~2500% to be satisfactory. That said, I think it's foolish to look at any of this on timescales less than 10yrs or so. This is a long-term experiment. My point is relatively straightforward: Bitcoin is an interesting gamble (which, like you, I have taken & enjoyed in the past), but a "store of value"? Would you call a craps game "a great store of value"? No, not even if the dice aren't loaded. A good store of value does not appreciate tenfold one year and depreciate threefold the next. Making your claim that you need to worry less about Bitcoin than you do about banks sound a bit disingenuous. |
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I was promised the moon... What happened?  |
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Give up bears.
Take your bull shit over to the failure that is XRP.
"Bull shit"? I thought even bulls were smart enough to know that bullshit comes from bulls  |
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Last year, selling at any point had always resulted in price going lower. I guess we'll never see 305 again, will we?
I wish I had 100k$ to buy in at that price and make a huge profit when the price will double. Same here. I wish I had lot of spare USD. If you shorted BTC over the past year, you'd have it. |
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.@inca; jaredboice:
Stop threadstalking me like a couple of d-starved faggots, K?
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