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It would be a store of value if the price wouldn't be so volatile as it is right now.
But actually, the price is moving between $1500 and $2000 a day (in both sides; down; up)
So it makes it impossible to be a way to hold money
BTC is mined in a predictable and steady manner. Fiat is inconsistent by nature so this is a moot point. Fiat is not money and should not be used for measuring anything. |
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First of all I am pro-Bitcoin and pro-Crypto-Currency, so let me get that out of the way first.
But the idea that Bitcoin serves as "a store of value" is so absurd and full of logical fallacies that I think it deserves to be explored.
First, in order for something to be "a store" of anything... it needs to exist in the present moment first. Bitcoin's value comes (or came) from the fact that it is a usable network to send payments efficiently and cost-effectively. Bitcoin's value in the present is totally dependent on network-effect, upon the fact that people are actually using the network (today, right now).
Now the idea that everyone else on Earth is going to buy 0.1 BTC, 0.05 BTC or 0.001 BTC and simply sit on it forever (HODL) for your benefit is ridiculous.
BTC Bitcoin in its current state is only a semi-functioning network plauged by high fees and long transaction times. In theory, if BTC Bitcoin was the only digital payment and remittance system on Earth, and was guaranteed to remain the only digital payment and remittance system on Earth... yes... then BTC Bitcoin *could* serve as a store of value. But of course this is not the reality of the world we live in where ideas are copied and improved upon and people gravitate towards newer products.
From the vantage point of someone who is entering cryptos for the first time in 2017/2018 it is far better to be an alt-coiner and have fast, secure payments. As opposed to buy a slow moving coin to further enrich yourselves.
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Too many old men and old ladies into BTC now. This was never about making money for fonestar and he has been in Bitcoin since early 2012.
Some of you H0DLers think you are buying an annuity or a pension plan. That's not how tekk works. If you don't innovate you stagnate and Core has shown me that not only do they have no interest in innovation... they are more into self-strangulation. BTC has historical advantage of being the first crypto-currency and the longest un-forked chain. That's an interesting thing but also technically useless. I have lots of old radios, cell phones and computers that are interesting too. They are not stores-of-value either.
I was neutral for a long time... kept thinking that BTC would get its kaka together. Gave them lots of chances, but no more... I'm all in for "the Flippening" to BCH. I think BCH preserves the original crypto-anarchist spirit, the true vision of Satoshi Nakamoto's global Peer to Peer Electronic Cash System.
The Bitcoin is Dead! Long Live Bitcoin!
(oh yeah... one more thing Core Dev... Bitcoin is for "poor people")
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This guy actually wanted to use Bitcoin as a currency - to pay a transaction worth 200.000USD. His counterpart also wanted to use Bitcoin. The conclusion - they abandoned is because Bitcoin simply does not work as a currency. From this is becoming ever more clear that Bitcoin will eventually fail spectacularly and the price will drop to near zero as only the most avid fans remain. https://www.c[Suspicious link removed]m/2017/12/07/kevin-oleary-bitcoin-is-an-asset-not-a-currency.html BTC is a failed currency run by m0ron non-developers and ol HODLers who should try being THINKlers. BCH/Dash/XMR is the future. |
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You have once benefited from bitcoin trading and investment why reject it so quick ,you made the money you are using in other crypto now,and is that why bitcoin still remain the God father to all cryptocurrency.
True that I have benefitted massively from BTC in the past. But at this point BTC is holding back the cryptos and making us all look bad. Worst thing you can do is get sentimental about technology. BTC had a future and Core squandered that future by refusing to scale, that is not what Satoshi wanted for us. |
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OK goodbye i hope you don't look back and regret in 3 years time!
Probably you would have been like - ohhh i should have kept those satoshis and have bought more!
Setting up for the next big rally. I would be surprised if BTC will be there to be a part of it at all, maybe the BTC estate foundation will send a fruit basket for teh lulz. |
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...okay well not quite. I have 150,000 satoshi left that I can't spend because of your ridiculous network fees. Oops... just sent it without a fee LOL. That should add to your mempool. Traded in the rest of my "BTC Cripple Coins" for "Centralized Roger Ver ScamCoins" and "Dash". Two great working currencies that actually scale , never felt better  Yes, those are "our" fees. We are responsible for the decentralized network. We made the fees so high and we made the price go down. Thank you for clearing it all up and creating another worthless thread. Newbies teach us something every day! So you've bought some BCH? It was at 3900 USD not long ago and now it's at 2500. How's that working for you?  Sorry I meant to say the "decentralized" fees your non-developers foist upon you which you passively accept, rationalize and normalize. |
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The more users who doesn't know how to deal with Bitcoin leave, the better.
Majority of new, unexperienced users will abandon Bitcoin blaming the fees and price dump and is actualy good to leave the room for the people who know what are they doing.
But what I like the best are these dramatic, crying posts. I don't know how we will survive the fact he quit Bitcoin, my heart is breaking....
Nope. Been in Bitcoin since 2012. Tried hanging on to a dying lifestyle. Gave up hope and now leaving for greener pastures. If you think spending $100 to send $500 worth of crypto within a day is "normal" then you don't understand crypto. You don't understand your network is severly broken. My fundz are instantaneous and almost free. |
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...okay well not quite. I have 150,000 satoshi left that I can't spend because of your ridiculous network fees. Oops... just sent it without a fee LOL. That should add to your mempool. Traded in the rest of my "BTC Cripple Coins" for "Centralized Roger Ver ScamCoins" and "Dash". Two great working currencies that actually scale , never felt better What's the point of getting rid of something that small? The price is going to go up and you might regret it. It's a dead network as far as I'm concerned. Just waiting for the miners to flip the switch, BCH lolomgwtf... |
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...okay well not quite. I have 150,000 satoshi left that I can't spend because of your ridiculous network fees. Oops... just sent it without a fee LOL. That should add to your mempool. Traded in the rest of my "BTC Cripple Coins" for "Centralized Roger Ver ScamCoins" and "Dash". Two great working currencies that actually scale , never felt better |
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simple. bitcoin is being attacked by the people behind bcash. the attackers are the same people who are mining bitcoin. if core had taken charge of block size increase they might have eased off or because core were still in charge they'd continue attacking. as it's miners doing this then they collect their own fees. if someone else gets their own fees then they still collect the super high ones from hapless users. this means they can continue indefinitely until their stranglehold is broken.
this is all because of the centralisation of mining. if that's broken then maybe we'll be ok. if it isn't then bitcoin will fail and deserve to as well. we're seeing the effects of centralisation and too much power in a small number of hands right now.
anyone moving to bcash is being herded there by the people who are screwing you over right now. they mine all of it. they control development too. i am not giving them control of my money.
you will be doing exactly what they want you to do. the best thing you can do if you want to keep a hand in crypto is head for litecoin or anything else that isn't so politicised and nefarious.
I will be heading partially to BCash... which is the original Bitcoin that Satoshi described in his white paper. That is also the Bitcoin that Core supported before they sold their souls to Bankers & Blockstream. I urge you to look into Core's constant claims of "BCH is centralized!!" because these are empty, baseless claims. Core is centralized and is trying to protect their vaunted space in the cryptosphere and censor, ban, intimidate anyone who challenges them. I will not be going to Litecoin or any other coin that entertains the notion of off-chain gimmickry. There is a reason Charlie sold when he did, he understands that Segwit/Lightning is a dud. Merry Christmas! |
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only a question of time before bitcash is worth more than bitcoin, completely useless and unusable at the moment.
Very soon in the new year bitcoin will no longer be king coin
You are correct sir! I suspect many of the late-comers in BTC haven't even tried to use BTC and know little about BTC, technology or economics. They bought some BTC, left it on Coinbase (or some other exchange) and they are cheering on a pixel on their screen watching the fiat value increase. |
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People burying BTC only because it did a 25% correction?? Don't know, if i see current BTC price, it's up 50% in less than a month, plus the dip correction momentum is almost all gone. There is a good chance that the up trend will restart powering up...
People are not burying BTC because of a 25% correction in fiat value. People are burying it because it is because becoming unusable, And because the people who are now filling up the BTC rank-and-file are very much like the people we sought to get rid of originally by using Bitcoin. |
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it has actually become somethings else this days ,transactions are been hailed for hours some times not confirmed i pray all should be well because investors are going to clean up there tears with handkerchief of tears of loss.
There is a fundamental economic misunderstanding here... Many believe that Bitcoin can maintain its macro-value without remaining a usable means of micro-payments. Sorry, it can not. |
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I don't understand people complaining about bitcoin and its technology.. For sure, I'm also unhappy with high fees and long transaction time. BUT: I really believe that, these problems are problems which can be easily solved with Segwit, Lightning protocol and similiar technology. And this updates will come - earlier or later! So don't be unpatient and trust the bitcoin dev community  Well that was me... the year before last... and then last year... and now it's become apparent to me that they are not going to "fix" this problem. Actually, they don't even think it is a problem. Ask Core and they will tell you higher and higher fees are a feature not a bug. Bitcoin (well BTC) is pricing itself out of existence as we type... 278,000 unconfirmed transactions and rising fast. |
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Whatever you say Mr. Ver.
See ya.
I am not Roger but I will tell him that you say hi. I will be taking the coins and hash power with me too... Enjoy your useless Blockstream/Mellon Coins while you still can.  |
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dont let the door hit you on the way out
I was a Bitcoin advocate when you were nothing but a n00b nocoiner so why not stfu? I will be going over to Satoshi's original Bitcoin. The door will hit ME on the way out before YOU join the stampeed for the exit a$$hole. You don't have to go on the attacking mode because he was just expressing an opinion based on the position you have already taken. I don't think you expect that we should beg you to stay? Its a free market where everyone is allowed free exit and entry and if you choose to go for the latter, we can only wish you well which is exactly what he did to the best of his knowledge. Aside that, I don't think you should create a new account just to tell us about your exit strategy. Well it is people like him and his arrogance ie, "BTC is the one and only crypto" who have really ruined Bitcoin and its orignal intention (sorry it is not and that is a fact not an opinion). Sorry I dont follow you... create a new account? This is the same account I've had for a long time. |
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2017 has been a very tough but exciting year for bitcoin. Most of all we got the opportunity to see that how useless bitcoin can be. Yes, the price sky rocketted and with some thats all that matters. If scaling is not prioritised, i see a whole lot of coins overtaking bitcoin. It might have the first mover advantage, but its days are numbered. I wouldnt be suprised if we see 2018 as the year bitcoin gets overtaken.
I hope you are wrong. I love Bitcoin and what it has done. I hope that Core has not permanently damaged the Bitcoin name. I hope 2018 can be the year Bitcoin is reborn. |
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No it's not slightest bit of volume, it's a huge volume because bitcoin exploded the last couple weeks and it did bring a huge media attention and a lot of new investors
Yes you are right. The volume is huge... and they wanted to take Bitcoin mainstream? How? Without scaling? All they are doing is bottle-necking this whole thing and making us all look dumb for ever trying. Lightning is not coming to save you, it is perfectly clear now that devs never had any intention of scaling. |
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Several transactions of mine have gone with 0 confirmations in the past several days. And some of those I was paying 1.5X or 2X the recommended fees. Nothing. Nada. Zilch.
Bitcoin has gone from being an expensive network to use to a practically unusable network. I was defending Bitcoin against millions of tards back in 2011 and 2012. Are they going to have the last laugh on me now? It pisses me off to actually see some of you defending this too and saying "this is the way Bitcoin is supposed to work". Umm... NO IT IS NOT .
I have ZERO confidence left in Core and their "developers". Their network can't handle the slightest bit of volume without totally seizing up. And then Adam Back is out there with the press talking about Bitcoin vendors and merchants running a tab system?? Really?? You can't do your job properly so you want people to run a tab in BTC?? You saw this coming from 10 miles away and did nothing about it. Stupid or malicious?... you decide.
I will be converting my remaining BTC to BCH, Dash, XMR and coins that actually work! And coins that have teams that have at least a Grade 7 level understanding of economics, ie.. "when you are at capacity, you open more locations". And not throw out "but but centralization!!" juvenile red herrings!
Long time Bitcoiner of 6 years here saying, "SEE YA LATER! CASHING OUT NOW!"
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