Bitcoin will not fail because of the lack of merchants accepting Bitcoin.

Nor will Bitcoins fail because of the lack of 'myBitcoin.com'-like sites.

Bitcoin will fail because of: http://forum.bitcoin.org/index.php?topic=25438.0

Only Satoshi can fix it

Jesus christ. This topic isn't even about solving speculation. How old are you? So I know if I should take you serious.

All I got to say is I got great answers from great people. You guys are very kind. You really think about other people and how to improve the community.

Not.

You guys suck dude, seriously. What a terrible community. Probably even proud to be such assholes too.

Good luck all. I believed in Bitcoins.. until I realized it won't work.

I pity you for not knowing what I'm talking about. Hell I'd even bet that you never touched pure gold in your life.

@markm

Missed the point.. I am not talking about embedding an existing system into Bitcoin. But something new. Possibly only something that Satoshi can build.

@istar

Gold is the only element in the world who has this property called 'Store of Value' true meaning. OGold is real money/store of value. Everything else is a commodity or currency. Bitcoin is not and will never be a store of value like Gold is, because it's not physical.

The reason of this thread was to point out to people that Bitcoin has no meaning if normal people cant get them. I understand most here are still in their denial phase to accept the existance of this issue but I'm seeing some people recognizing it already, like Atlas with his EasyCoin suggestion.

No because it's not embedded into the Bitcoin client/protocol.

People trade 'in person' with each other. It's just like buying something with cash from another person in real-life. You can't really get ripped off at that point.

This really is the only solution, to make Bitcoins true 'digital cash'.

I'm telling you and I know you are feeling it too, current Bitcoin system will fail unless this gets implemented.

For people who don't read that other board:

http://forum.bitcoin.org/index.php?topic=25438.0

Just one problem: There are no buyers

Yes it does, because the methods of payments are not limited to what exchanges accept, but what people who sell Bitcoins accept.

There can be people locally selling them for cash (instant).
People selling them via local banks (instant).
All this is inside the Bitcoin network, so you can 'lookup' sellers if you want to buy and if they accept your payment options that you want.

It's much like bitmarket.eu, where people also put their 'payment methods' at the bid price. But it will be inside the p2p network of Bitcoin which makes its extremely useful.

The whole point is to have this inside the Bitcoin protocol/client

Except that it won't go up in value.

His whole comment is speculation, trying to leverage up the value of Bitcoin while it's true consumer value is 1$ at most.

Thank you for this very thoughtful reply.

Hello,

I just wanted to discuss some things about Bitcoin and it's survival. It is clear that Bitcoin can not survive if the mass public can't get ahold of Bitcoins.

With centralized exchanges the whole purpose of Bitcoin is defeated. 95% (if not more) of the price of BTC is pure speculation hoping the prices go up, meaning 5% is for consumptions. This ofcourse cannot be sustained meaning the price will drop unless consumptions will increase alot.

Since exchanges aren't here to serve the public or the 'p2p' idea of Bitcoin, but only to serve themselves with profits from fees. They are the cancer of Bitcoin.

My thought is that only miners can solve this problem, ofcourse miners mostly don't care about Bitcoin either and only mine to sell them immedietally on exchanges for USD to fools.

So whats the solution?

In my opinion, the only solution is a built in p2p exchange into the Bitcoin client.

Users of Bitcoin can broadcast 'Buy Bitcoin for $ in US, via bank'. And others can accept this call and contact the seller in any way (like through a Personal Message). Then the selling and buying of the Bitcoin is given to the people, not exchanges.

Let's work out the p2p exchange idea here.

It's really the only solution..

Discuss.

IDIOT WARNING: THIS TOPIC IS NOT ABOUT SOLVING SPECULATION. THIS TOPIC IS ABOUT HOW TO MAKE BITCOIN CONVENIENT FOR THE AVERAGE PEOPLE. A CONVENIENT BUY BITCOIN SYSTEM

Come to think of it.. it's really just amazing how the price of Bitcoin got inflated and is at 15$.. It's just pure speculation, no one spensd the Bitcoins at all (ok, maybe a very few people).

It's really just waiting for the first trader to realize Bitcoins aren't worth anything at all actually, since no businesses accept them (and businesses don't accept them because there are no customers anyway). When that happens the price will probably nosedive.. It's quite important to get some substantial 'bitcoin consumer'-base before that happens.

Satoshi has built Bitcoin.. now it's upto exchanges and miners to get people to buy Bitcoins for consumption...

This system will simply break the Bitcoin purpose in my opinion. This is not what Satoshi intended (so to speak).

I think a better way is to discuss how to get people turn USD into Bitcoins (in their personal wallets on their computer).

Alright I'll do that, let's see if it works out.

I agree that it's hard for Bitcoin to make it become usable for normal people.

I want to accept Bitcoins for my business but I just feel like it's pointless since people can't get them anyway.

Who goes to exchanges and deposit USD to trade for EUR? No one, they'll just go to a local exchange shop at the airport.

Yeah it's kinda late to get into Bitcoin now, kind of pointless except if you start a Bitcoin accepting business.

How are you supposed to fight chargebacks if you don't know who chargebacked? It can't be anonymous.

So what are Bitcoins for then?