Explain to me why CHASE bank is going to bother with the Bitcoin Blockchain?

Rather than just fork their own?

The only reason banks are even considering Bitcoin right now is because they don't understand the technology enough yet.   So they're being conservative and considering the "tried and true" version.  As soon as someone there gets wind of the fact that they can easily fork Bitcoin and make their own coin, they will be on that like a fly on shit.  Tell me why they wont?   They care nothing for decentralization, and neither will any of their 80 million customers.  Everyone just wants cheaper financial transactions.  And "blockchain technology" provides that.  With or without Bitcoin.  If anything, CHASE will want to control their own coin, their own crypto network, and add features, customizations, and abilities to it.   What is their incentive to go with a system that is propped up by a bunch of mining farms in rural China?   Are we serious right now?  If anything, mining will be considered a terrible solution when they can just put their own security on their own blockchain, and get *all* the same price benefits of Bitcoin.

Tell me why any bank would ever use Bitcoin, aside from ignorance of how easy it is to make their own?

-B-

Your social skills are embarrassing.


No.  Im a moron remember?


And?  This thread is about crowd funding a TV commercial.  Everybody already knows "there are other ways".  

Do you even know what crowd funding is?

If you want to make a Circle PR stunt thread, be my guest.  

I promise I wont go into it and hijack it by babbling about every irrelevant exception I can think of, just so I can feel smart.

-B-

Hi -

I don't believe Bitcoin is in need of a killer app.  I belive Bitcoin is in need of a killer incentive.

Without incentive to use the currency in the first place, the general public is never going to use any "killer apps" that become available.

Circle could be the easiest thing ever to hit the Bitcoin space.  If consumers don't give a fuck about Bitcoin, they aren't going to use Circle.

It will simply be a killer app for people already in the Bitcoin ecosystem.

-B-

Actually, I am of the opinion that banks have nothing to fear from Bitcoin because they can, and will just fork the blockchain and make their own coin, their own network, and steal the entire concept to save themselves billions of dollars in fees, and promote the acquisition of new customers by offering cheaper services.  And there will be Bitcion, sitting over there in the corner still.

-B-

I understand where you're coming from.  I don't think anyone wants a site where "murder for hire" is allowed.  But its a double edged sword.  Freedom comes with bad actors.  Bad actors are still breaking laws, and are doing so at their own risk.  If they get caught, they go to jail, just like with any illegal activity.  We have to remember that the internet was the hub for pornographers and perverts in the beginning too.  For several years, nobody I knew had the internet, and the only shit I saw online was AOL Chat rooms dedicated to "Gay Dudes Fisting" and "Bears for Twinks" and "F my Wife, Please".  If you wanted to get laid easily in 1997, the internet was the place to do it.  You couldn't do much else there.   There was no Amazon.com until 1999.  Its a tough topic.  There are two valid viewpoints in both directions.  I suppose with the internet - nobody running it - nobody was responsible for illegal activities.  When you've got a centralized organization like Open Bazaar, there does seem to be a moral imperative.  Which they can choose to ignore if they like.

-B-

OP:

I appreciate your first post.   And this thread.  Its good to get everyone tackling the elephant in the room, head on.  It gets people talking.  And thinking.  And the entrepreneurs out there will come up with solutions.  My only response to your rant is this:  Incentive needs to be created.  Or Bitcoin needs to become part of the financial fabric.  From what I am seeing, major thinkers and players are doing just that.  Major companies, powerful people, and some of the very smartest are gathering and putting their minds together.   This is something entirely new.  And your expectations (everyones expectations) for consumer adoption, are premature.  We aren't there yet.  We will be.  Eventually.  And how do I know that?   Because I see the foundations being built right now.  

You can have any opinion you want of Bitcoin.  You can't deny the statistics and facts, that the infrastructure is growing at a rapid pace.  And that is all that's necessary for Bitcoin to become part of the financial fabric of society.  Nobody knows how it will pan out.  How it will develop.  Nobody knows just what catalysts will come that will be the true turning point.  But that's all being tried and tested.  Its just beginning.  What business model will be the killer app?  What social/government/economic environment will kickstart its adoption?  

Could we have predicted that every Barnes and Noble would go out of business, when the internet first appeared, and in fact had been around for 10 years by 1996?  For fuck sake, Amazon.com didn't even have a web site until 1999.   How long after internets inception was that?  Now look at Amazon.  Look at Barnes and Noble.  How many years was Amazon around before Barnes and Noble finally started struggling to stay afloat?  How long was the internet around before Blockbuster started closing its doors?  

Here we are at a pithy 5 years and we're screaming the doom of Bitcoin because worldwide consumer adoption hasn't begun?  In 1996 nobody had a fucking incentive to shop online either.  You easily could have stood there, 10 years after internet's inception and said "Fuck this.  We're 10 years in, and people are still shopping in stores".  I think you get my point.  You're right.   Consumers have NO incentive to use Bitcoin.   The reason why?  Because the infrastructure hasn't been built for Consumer use yet.  But its going to be.  And you can feel confident in that by simply paying attention to whats going on in the industry.   Listening to the Podcasts.  Reading the Google News Feed for keyword Bitcoin.  Subscribing to the Subreddit.  There is so much shit going down right now Its nearly impossible to keep track of it all.  Businesses are being started.  Great minds are thinking.  Effort and money and time is being poured into this.  And that's what results in success.

I hope you were able to read all of that and fully digest it.  Apologies for the length.

-B-

 

Great post coming from an early adopter.   We need you guys around to help keep perspective.   

Seriously , in 2011 if someone had told the community that by Sept 2014 PayPal would be incorporating Bitcoin, you'd have been laughed out of the building.

-B-

No doubt.  And if Bitcoin were centralized, it would have a PR company that methodically approaches public education and awareness like this.  But its not.  So all these opportunities will continue to be learned only through passive osmosis.  Would be great if there were some organizations that had money to run TV ads and other public awareness campaigns.  But there aren't. 

-B-

With all due respect, what planet are you living on that Television commercials are "old" to you?  Are you serious?  Do you know why they cost so much?   Because they reach tens of millions of people, all at the same time, and they are effective.  

Bitcoin has been nothing but "social media and memes" for the last 5 years and look where we are today with consumer adoption.   ZILCH.  

Nobody knows a damn thing about it *because* its just all of us circle jerking on YouTube and Discussion Forums.

The real advertisers advertise on television.  Anyone who thinks advertising on youtube is more effective than a prime time television ad ... well ... holy crap how out of touch can you get?

-B-

Great post.  Whoever originally wrote this [on reddit named BitttBurger] must be a genius among men!!

All joking aside, thanks for reposting this.  When I start seeing Bitcoin commercials I am going to jump up from my couch and cheer.

Because that's when shit gets real.

-B-

This

Gold -

Great work and good effort.  I think we kind of need to sit back and let the current brand logo become familiar for a few years first though.  Name and visual recognition are everything in adoption and marketing.  Rebranding is never done this soon in the game, especially with such extensive infrastructure growth.  Rebranding is typically saved for when something has been around an extremely long time (10+ years).  And for companies that need an injection of new business, as they are floundering financially.

I personally do not feel the current bitcoin logo is "old" looking at all.  Its quite contemporary and works well.  In 5 years it may start to look a little stale.  Then maybe some new ideas might start to pop up. 

When less than 1% of the population of the world knows what Bitcoin is, its really too soon to be talking about rebranding. 

NeoSans is a killer font though!  Use it for the logo on my website as well  

Just my 0.02

-B-

Tuned out here.   IQ too low to listen to him further.

-B-

OP:

I think the bigger possibility is that psychic or not, she's still your mom, and she's heard all the FUD just like everyone else, and ... just like everyone else ... would advise you to sell and invest in something less risky.   Big possibility she's just stating her opinion right now.  Not being psychic at all.   Moms do that  "to protect their kids".

-B-

What is that site?  How do you have so many posts and users?   The "General" forum topic list doesn't match this one, so it doesn't look like you're cloning this forum.  Right?

-B-

Hey Kids:

How about we stop pretending these aren't real issues, and instead start tackling them head on?

There are way too many elephants in the room.   Denial doesn't make them go away.

Lets address them.  First and foremost, someone needs to get the Dev team off their asses and put together a priority list for enhancements, and a timeline for them as well.

One that is based off actual market research and the people Bitcoin is supposed to be serving.

Not one that is based off "opinions" of programmers who have no idea whats going on "out in the field".

That obviously isn't working.

-B-

Playing devil's advocate:  What if he bought them on Coinbase.  Is the simple fact that he may have "moved" them out of the coinbase system to another address, sufficient to say "I no longer have them" ?

(applies only to USA people of course)

-B-

And makes the remaining coins worth that much more, as there are fewer to vie for.

-B-

Its fascinating to watch how the shit talkers arguments evolve.

First Bitcoin is dead.   Just .... dead. 

Now its "As more and more retailers announce that they're going to be accepting Bitcoin (Pending:COIN) for purchases, we once again need a reminder that the "currency" isn't really a currency at all"

"Stay far away from Bitcoin!"

Like it doesn't matter how obvious it is to the dumbest person on earth that Bitcoin is here to stay ... they still find some way to ignore that and talk trash.

-B-

So that's $1750 in like .... 10 years.

Sweet.

-B-