I quickly read the info about them and their about section but I still don't know what the hell are they trying to achieve and why does it matter. Can anyone explain?
They're making it a whole load more painless for an average personage to buy and own BTC. What's so new about that? It is already as painless as it could be. Just transfer your fiat to an exchange, use bitcoin atm or find someone from localbitcoins. Painless? Getting verified at an exchange is not exactly what I would call painless. It is a lengthy process that requires much more information than an average user is willing to give up. With Circle I can register and purchases instantly with a CC, all within a matter of minutes. You don't need Circle for that! What the hell. All the verification trouble is because of LAWS not because lack of painless service. We need laws to change. Circle is nothing new. If they didn't put me in jail I'd be selling bitcoins as commodity myself over the iPizza protocol as if I operated just another online shop. However, I cannot do this because police will immediately fuck me up for that. How can Circle get past police and I don't? Does not compute. Yes, yes. We very much need Circle for mainstream, non-technically inclined people to use Bitcoin. Before Circle there were no such service. Stop thinking the universe revolves around you. |
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I quickly read the info about them and their about section but I still don't know what the hell are they trying to achieve and why does it matter. Can anyone explain?
They're making it a whole load more painless for an average personage to buy and own BTC. What's so new about that? It is already as painless as it could be. Just transfer your fiat to an exchange, use bitcoin atm or find someone from localbitcoins. Painless? Getting verified at an exchange is not exactly what I would call painless. It is a lengthy process that requires much more information than an average user is willing to give up. With Circle I can register and purchases instantly with a CC, all within a matter of minutes. |
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Circle registration is now open.  to the stratosphere we go Ok, that's it. Now I will quickly dump before the whales start dumping again. Paypal did not get us to moon, neither does this. Paypal news was miniscule compared to this, if you ask me. |
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Circle registration is now open. to the stratosphere we go |
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Thanks for some quality material. Much needed:
One: yes, the shift from speculative volume to transactional volume is the key.
Two: consider the Mexican Government's white paper: their currency and voting-system and tax-collection system all (perhaps one day) on a blockchain. I don't think any amount of crypto 2.0 should threaten Bitcoin-as-a-currency because the manifold others uses of blockchain tech -- like stymyng electoral corruption -- are entwined with the goals on non-governmental currency.
Three: it really does seem that Bitcoin's 'inflation' -- the influx of newly-mined coin -- is a problem at present: "very high levels (eventually)"
I am old school, not gonna troll: there is a coin that has 'better' parameters, and is therefore doing v. v. well. Please feel free to ask its name.
Mark (IndiaMikeZulu), Australia
My problem with these crypto 2.0 projects is some people have fooled themselves, and others into believing the implications are far more important than "just money". As if the money is not the most subversive "application" brought about by the Bitcoin technology. Sure there are a plethora of paradigm shifting applications that could be built on top of the blockchain but money is far and away the most important. Money is at the very foundation of our society. |
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... the fiat economy house of cards ?
You silly sheep. Your life is a house of cards. You think that you've stripped off the veil and stolen a glimpse of Truth's sweet sweet ass. You goof! Sure, your government, owned by the banksters, who are the brood of the poison bloodline, The Bitch Of The Rosy Cross and The Faggot Knight Templar, AKA The Lizzard RothChilds, wants you for your wool, and an occasional lamb chop. But don't think that just 'coz you learned The Truth, you suddenly are a lion. No. You're not a lion, brg444. You're still a sheep, and sheepses that stray from their herd get eaten by smarter, stronger animals with claws and pointy canines right away. Now stand still so I can count you, I need some zzzzs. where do you find all this energy ? |
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Ideas are ideas. They don't have to be original. In fact they never are. I'm saying that the consumer has no insentive to use bitcoin. That's all. It's a fascinating tool that got caught up in a speculative bubble. The dollar doesn't crash on a daily basis
consumer have no incentives to use gold. yet it has a 5-6 trillion market cap What's your point? Gold has a few thousand years worth of history on BTC, but if you're arguing that it's an anachronism, sure. My point is Bitcoin, fundamentally, challenges gold as a decentralised store of value. History for that matter, is the only thing Gold has going for it at this point. |
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Ideas are ideas. They don't have to be original. In fact they never are. I'm saying that the consumer has no insentive to use bitcoin. That's all. It's a fascinating tool that got caught up in a speculative bubble. The dollar doesn't crash on a daily basis
consumer have no incentives to use gold. yet it has a 5-6 trillion market cap Gold bubble So I understand you do not value any investement that can be used as an hedge to the fiat economy house of cards ? |
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Ideas are ideas. They don't have to be original. In fact they never are. I'm saying that the consumer has no insentive to use bitcoin. That's all. It's a fascinating tool that got caught up in a speculative bubble. The dollar doesn't crash on a daily basis
consumer have no incentives to use gold. yet it has a 5-6 trillion market cap |
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Throughout the last year we have been inundated with use cases focused on "blockchain 2.0" technologies. The decentralized ledger being such a powerful idea, it is expectable that people would come up with such an overwhelming number of different use cases. This, I believe, has lead to a distraction from the true and original value proposition of Bitcoin : a better form of money. This phenomenon is easily observable. It has in fact become arguably the primary talking point of Bitcoin in the mainstream : "The blockchain is the real innovation" "Bitcoin is more than just money" "bitcoin is cool, but Bitcoin is the real deal" If you haven't watched this video yet, I cannot recommend it enough : https://www.youtube.com/watch?v=r1lqqNU3fQs#t=850First, Wences provides a remarkably insightful run down of the history of money and exactly what it represents in our society. Then, from 13:00 on, he presents his opinion about the 3 stages of growth of Bitcoin. This is what I want to focus on because I find his account to be one of the most credible and honest explanation of the dynamics at stake in Bitcoin's growth. Bottom line is : little to no one is buying Bitcoin to use as a currency. Bitcoin's store of value attributes is the reason we have gotten to where we are and it will remain, for awhile, the use case that will drive Bitcoin forward. For this reason, it is disingenuous to point to Bitcoin's "inability" to catch on as a currency as a reason for its failure. His analogy to email, while not particularly novel is very much correct. When only a couple of millions of people had access to email, it seemed far fetched to expect everyone to use it a method of communication. It remained far more convenient to use the phone or regular snail mail. It is only when everyone in your network had email did it become a prevalent method of communication. "I think that something the Bitcoin community has to be honest about, at least amongst ourselves is what Bitcoin is about today and what we would like it to be. Sometimes we make it look like it's about things we want it to be in the future. The truth is when we look at the volume of people buying the "stock" of Bitcoin and the flow of people buying their first bitcoin. It's mostly about buying & holding. It's totally fine, it's a decent use case. It's not a two-sided market : for me to buy & hold it doesn't require a counterparty to accept Bitcoin. I simply have to agree to a price that someone is selling. It has been working for 3 years and I think we can depend on that. It's not some theory, some hypothesis, it's working and it can keep working" Bitcoin will continue to grow organically with the help of its network effect and its value as a speculative store of value. Let's not put the cart before the horse people. Keep your eyes on the prize |
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The elephant in the room: consumers have almost no incentive to use bitcoin. The common talking points are: Low fees - The consumers pay no fees while using a credit card. They actually get rewards points back. Privacy - As evidenced by a recent post, bitcoin offers little privacy out of the box. You need to go through hoops to achieve privacy. People who care enough to go through these hoops have better alternatives (like cash!), which are more foolproof. Being your own bank - Few people want to take the risks associated with being a bank. It is more of a headache than a plus. No consumer protection - No need to elaborate. Distrust of the monetary policy - The volatility of bitcoin makes it useless as a store of value, and there are better and more reliable options to store your wealth. Few people buy into the tinfoil-hattery that the USD is about to crash. There is simply no pragmatic answer to "Why should I buy bitcoin?" Do you realize there are very few that are invested into Bitcoin to use it as their everyday currency? Have you considered that maybe the "commercial" incentive to using Bitcoin are irrelevant at this stage? I know everyone gets giddy when we get new merchants because they can say they used bitcoins to purchase an item and brag about how groundbreaking and seamless the process was. The reality is these applications of Bitcoin are, at this moment, nothing more than a distraction. So.... why should I buy bitcoin? Maybe you need to ask why have the majority of holders that exist have already bought bitcoins? Surely not to use it as a currency, at least not at this stage. The answer is very simple : speculation. Some people value the attributes of Bitcoin as an hedge to national currencies. Some realize its potential as gold 2.0. Some are smarter than to call the economic turmoils we are living in "tinfoil-hattery". One other fundamental that you have wrong is to suggest Bitcoin's volatility makes it useless as a store-of-value. This could not be more wrong. In reality, speculators LOVE volatility. Because volatility makes money. You suggest there are more reliable store-of-value. This is certainly true. What is also true is that for those that have held Bitcoin as a long-term investement for at least a year have so far seen better performance than any other asset on the market. If you are here for more than uneducated trolling I highly suggest you listen to a couple of minutes from this speech of Wences Cesares of Xapo : https://www.youtube.com/watch?v=r1lqqNU3fQs#t=850from 13:45 to 15:00. hopefully you can understand |
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it only takes ONE major entity; bank, company, government, person to buy in and others will follow, not wanting to be left outside. This is wishful thinking. Tim Draper already jumped in with >30000 coins purchase. Nobody followed him, sorry. Second market stagnated as well. not mainstream enough. try again. even your argument that "nobody followed him" is patently untrue. it is not wishful thinking. and at the rate we are at, it could possibly happen within a year from now. |
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I have to say it is getting annonyingly ignored these days (the SOV function) I cringe at videos on youtube or reddit that claim : "Bitcoin it's more than just money". As if money was not the most subversive aspect of Bitcoin. "The real value is in the technology, not the currency" These type of speech make me sick. One would not exist without the other. Also. I'm cool with Coinbase, they're adding a whole lot of value to the ecosystem right now. But the reality is they are themselves a middle-man, that will eventually be cut loose when it is no longer needed |
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prolific posting this has been my opinion the moment I grasped the idea of Bitcoin and the importance of its network effetct to quote rpetila the amount of Bitcoin pregnancies is at an ALL TIME HIGH there are already extremely wealthy entrenched interested that have jumped on board. there will be a tipping point, a black swan event that will see a mass exodus of fiat money into Bitcoin it only takes ONE major entity; bank, company, government, person to buy in and others will follow, not wanting to be left outside. another considerable impact will be customers that, with the help of companies like Circle, will be able to transfer to BTC seamlessy. Peter R had a great post describing a sort of "enlightenment" he had about individuals around him having the ability to so easily "invest" in BTC's wave through their smartphone app. I could easily empathize with him. I too, have friend who I have discussed BTC with and know it only takes ONE upside move for them to jump in. the moment Circle is open for everyone in the world to use it will be an enormous step forward for Bitcoin. one thing is for sure, corporations are not going to be left behind. the moment they feel that are losing a grip on things, their move will be swift and indeed, massive. they will have their own arms race where every one will compete for a bigger stake. from there on it is every man for its own |
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What is the impetus for every day use?
this will become clear once bitcoin leaks into the supply chains. merchants can offer discounts for bitcoin, just because of the customer->merchant transaction. there are savings to be made all the way up that supply chain. they would have the advantage over their competitors. consider this, I can buy something from an online merchant in france, the chinese supplier could have a replacement order on file and received payment within one or two hours. newegg started with the 10% discount, but don't have it now. Why? Perhaps, credit cards issuers had a word with them? Do you know that many stores are not allowed to sell the same goods for a cash discount vs credit card? This (pressure form credit cards issuers) ought to be illegal. You fail to see the big picture. Everyday use of Bitcoin as a currency/means of exchange is not required to attain the heights suggested by OP. Until we get to mainstream adoption, these aspects of Bitcoins are just bells and whistles. What will drive the next rally is what has driven each previous bubble : speculation. |
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The described scenario is theoretically possible, but can occur only if there is a crash in other currencies or financial markets.
People seems to be quite content with using fiat. Why would they change, except in special cases, like sending money?
What is the impetus for every day use?
If all mined coins are sold (just for the sake of argument), then it results of $526 mil being sold into the system per year.
There are only four funds that are buyers and these are relatively small funds. The only other buyers might be large family offices.
In a personal example, I am a relative enthusiast (I accumulate, mine, etc.), however I don't use bitcoin for much of anything because it seems silly to exchange it for goods (other than miners) at the current super low prices with me putting up quite a lot of cash getting measly btc at the moment. None of my family have used bitcoins for anything, even if they are fully aware of bitcoin from my interest. I am quite sure that this situation is rather typical.
Perhaps, we are too impatient and it will take years/decades for usage to improve, but the last 11 mo has been a general disappointment: too much talk about esoteric usage (Etherium, etc) and too little improvement in day-to-day activities (wallets, security, etc.).
This is not about using fiat or not. Why would they change you ask? Cause the value of the thing is fucking skyrocketing! Greed will fuel this ride, everyone will want to board this train. When it becomes obvious that there is nowhere for this thing to go but up EVERYONE will want in. It makes to sense to suggest mined coins would be sold into the market. In a bull market, with Bitcoin going up with no stop in sight, miners will hold onto their coins. Your family is a perfect example of this. I'm sure you have spoken to them at length of Bitcoin and all its promises. Right now they're probably like  but when the next rally begins and you'll be making 100s if not 1000s of dollars everyday they'll be begging for some bitcoins. |
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Such a toxic environment here.
Please go gamble in the casino, instead of raping some game-changing technology in it's infancy.
In its infancy ... yeah, right ... It's only six years old, after all. Most people here are late adopters, entering the world of Bitcoin in its twilight years. But of course, the cultists, permabulls and other scammers would have them believe they're all early adopters. care to lookup what the internet looked like 6 years in? twilight years.... yeah right. it does look like we've come full circle. |
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 there are many reasons why I have been and still am confident about by Monero investement but the amount of trolls, haters & FUD around it may be #1 rarely have we seen this amount of naysayers since Bitcoin itself
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Look, an insider!
Not insider :-), only looking for answer to my question: Who or what prevents me from ring-signing your input and send your money to my address(output). What this ring signature guarantees. (may I spend all inputs ? is this agreement of this group ? If it guarantees nothing (because anybody can create signature) then why is there (just "smoke screen" for propaganda we are untraceable?)) ... or I'm too stupid. Edit: q1: How much money was mined(emitted) and what is total sum of all accounts :-) ? Edit2: if you know answer to q1 then you must to know all accounts and their balances. q2: Do you know how balances change every minute ? [yes] In case, your money are secure, can be blockchain analyzed ? [yes] read above hint : you're too stupid |
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