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I'm still buying on every dip.
You sure are. The workings of teh Tadalafil-engorged mind  This old chestnut again?
I'll say the same as I did 6 months ago or a month ago.
We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.
We should be above $10,000 for good by this time next year.
Unless something comes along to break Bitcoin before then.
Kids, NOT EVEN ONCE! |
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Since we're on the subject, let's see what you thought the price would be today. You, from last spring:  This old chestnut again?
I'll say the same as I did 6 months ago or a month ago.
We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.
We should be above $10,000 for good by this time next year.
Unless something comes along to break Bitcoin before then.
Talk about fail  |
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ITT: Bulls reassuring each other that investing in BTCeanie BTCabies Bitcoin wasn't the dumbest thing ever. At least not as dumb as facts and logic suggest it is |
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Still, it doesn't mean bitcoin is dead or dying.
Of course not, the doomsayers are exaggerating. As long as there's a single guy with a couple of netbooks mining, Bitcoin won't die. |
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^It's OK, buddy. Who can blame you for being peevish when you BTCeanie BTCabies Bitcoin investment turned out so nice? You can now retreat into your well-defended delusions  |
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Since we're on the subject, let's see what you thought the price would be today. You, from last spring: This old chestnut again?
I'll say the same as I did 6 months ago or a month ago.
We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.
We should be above $10,000 for good by this time next year.
Unless something comes along to break Bitcoin before then.
Talk about fail |
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Denial and butthurt, tools of the desperate Bitcoin cultists. Enjoy your gif |
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It's becoming clear reasoning with a brick would be more productive. Fine, have a happy gif. |
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judging from the amount of transactions happening, i would say bitcoin is gaining popularity...
But yeah, it has indeed been less covered in the media lately. The hype is over, so it makes sense it's googled less often.
I use bitcoin, but i'm not typing the term "bitcoin" into google... I did do that the first time i wanted to look it up. By now, i suppose most people know about bitcoin already, so obviously it will be less googled. You shouldn't conclude it's less popular because of that.
Google Trends results for "Bitcoin" aren't limited to just one word. Searches like "Best place to gamble with Bitcoin," "How do I buy child pornography with Bitcoin," "Where is the closest gas station that accepts Bitcoin," "I'd like to contribute to a few terrorist organisations, where do I send my bitcoins?"--those all count |
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Sorry trolls but you won't be invited to the parties on the private island...
1. Technically not an island. 2. Your shit's on fire, swim for it!  |
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Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. Huge now, but it doesn't own the sourcecode/Bitcoin protocol. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.
Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep. AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase. The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one. Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol). The fact of the matter is they can and do   Other coins are not providers. What other coin use Bitcoin? Don't make me explain what the long word "analogy" means. It certainly doesn't mean "identical" or "equal." Bitcoin protocol is not your blockchain. Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. Are you intentionally being obtuse? The protocol being discussed is the Bitcoin blockchain implementation and its units. There could be thousands of TCP/IP clones/implementation but only one implementation is supported. That's why the TCP/IP analogy fails, and AOL is a better fit. AOL relied on TCP/IP for its business. Bitcoin (your particular blockchain, your "implementation" of Satoshi's technology) similarly relies on the Bitcoin protocol No, Bitcoin blockchain is its own protocol. It doesn't rely on a protocol. It is an implementation of different technologies that create a standard for value transfer. Clonecoins can create different implementations using the same technologies but they become entirely different protocols of value transfer. Coinbase relies on the Bitcoin protocol for its business. Coinbase = AOL. This is degenerating into semantics pedantry. If you don't like me calling this technology "Bitcoin protocol," fine, call it whatever. The point is you didn't invest in the technology any more than AOL invested in TCP/IP. Bitcoin relies on this technology, just like AOL relied on TCP/IP, but that's it. |
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Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. Huge now, but it doesn't own the sourcecode/Bitcoin protocol. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.
Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep. AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase. The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one. Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol). The fact of the matter is they can and do Other coins are not providers. What other coin use Bitcoin? Don't make me explain what the long word "analogy" means. It certainly doesn't mean "identical" or "equal." Bitcoin protocol is not your blockchain. Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. Are you intentionally being obtuse? The protocol being discussed is the Bitcoin blockchain implementation and its units. There could be thousands of TCP/IP clones/implementation but only one implementation is supported. That's why the TCP/IP analogy fails, and AOL is a better fit. AOL relied on TCP/IP for its business. Bitcoin (your particular blockchain, your "implementation" of Satoshi's technology) similarly relies on the Bitcoin protocol |
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Once there are only 1M btc left to be minted and it's near impossible to mine them, the price will rise.
but that would make mining obsolete aswell (according to the logic of the proponents of high inflation for the sake of network security) You can not have high inflation and a high price for it at the same time - shouldn't be hard to understand. Mining will someday be obsolete, people will process transactions for fees and bitcoin will have hit full maturity. Bitcoin value can then only go up. About high price and inflation: " In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price index) over time.[4] " -- wikipedia -- This means bitcoin will deflate since the pricelevel for goods goes down and your buying capabilities increase. BTC1 will now buy you an iphone BTC1 will then buy you an house Let me help with a few details: Mining will never be obsolete, it is what makes the Bitcoin network go and secures it. You're conflating (ugh, retarded word, but Bitcoiners love it!) price inflation with monetary base inflation. Bitcoin's yearly monetary base inflation (what the local libers refer to as "making money out of thin air") is over 10%, YTD. Bitcoin's yearly price inflation is ~65%, YTD. No need to thank me, my pleasure Thank you anyways, I'm no economogist  Yes mining is what makes the network go but since your doing it for transaction fees and not for minting blocks, can you still call it mining? If we want to be sticklers, it's not mining now--nothing is being dug up out of the ground |
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and btw, tcp/ip v4 has the fatal flaw too, namely extremely inadequate addressing space, known since 30 years ago. you know what? we learned to live with that instead of replacing it with a superior tech. because expensive to replace everything. with every passing day, it is less and less likely that bitcoin will ever be replaced.
Are you suggesting that Crypto 2.0 will be IPv6? Sure. No, he's suggesting that Bitcoin v. x.xx will be IPv6 Bitcoin is still at V0.xxx, AFAIK. Way to stay in beta for half a decade. Much rapid development. Very problem-solving |
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Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. Huge now, but it doesn't own the sourcecode/Bitcoin protocol. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.
Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep. AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase. The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one. Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol). The fact of the matter is they can and do Other coins are not providers. What other coin use Bitcoin? Don't make me explain what the long word "analogy" means. It certainly doesn't mean "identical" or "equal." Bitcoin protocol is not your blockchain. Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. Are you intentionally being obtuse? |
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and btw, tcp/ip v4 has the fatal flaw too, namely extremely inadequate addressing space, known since 30 years ago. you know what? we learned to live with that instead of replacing it with a superior tech. because expensive to replace everything. with every passing day, it is less and less likely that bitcoin will ever be replaced.
Are you suggesting that Crypto 2.0 will be IPv6? Sure. |
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Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. Huge now, but it doesn't own the sourcecode/Bitcoin protocol. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.
Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep. AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase. The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one. Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol). The fact of the matter is they can and do |
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What fundamental issues?
-difficult to use for non-techies -obscenely high block reward (inflation rate) -slow confirm time necessitating cludgy workarounds -blockchain bloat Just to name a few. You are greatly underestimating the force of network effect and protocols.
TCP/IP is one thing that has yet to be replaced by a 2.0.
Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. It's huge now, but it doesn't own the sourcecode. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol. Doesn't take much foresight to imagine all those problems being solved in due time. You people sound like those who were saying the internet would never scale in 1992. You asked about fundamental issues. I gave you a list. The correct response would be to thank me, but instead you chose to avoid the issue by claiming that they'll be addressed in due time. |
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Do something, gentlemen, before We're forced to shake the box    ~Your Beneficent Reptilian Overlords. |
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What fundamental issues?
-difficult to use for non-techies -obscenely high block reward (inflation rate) -slow confirm time necessitating cludgy workarounds -blockchain bloat Just to name a few. You are greatly underestimating the force of network effect and protocols.
TCP/IP is one thing that has yet to be replaced by a 2.0.
Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online. Huge now, but it doesn't own the sourcecode/Bitcoin protocol. Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol. |
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