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But you still agree regardless that there is HIGH risk involved which should not be there. You tell me not to compare stock to bitcoin but stocks are the only thing to compare it to. It's the only thing that's not "tangible" per say that I can turn into a real currency. Real estate, while an investment is tangible and it matters about location. Location/condition doesn't exist or matter with Bitcoin/stocks, therefore I'll compare again. If I owned 100 shares of eBay no one is able to hack me and steal my shares, there are no issues with me transferring my 100 shares of eBay to anyone at anytime with fear of me being robbed, fears of me losing my shares, fears of fraud. None of it is there. I have used the Robinhood app for over a year and a half now and had no issues with stocks at all. I have had no issues with Bitcoin, but I've read a lot of horror stories of people being robbed. This should NOT be an issue at all. Something so great that people tout is the best thing ever, yet you're having high volume of scams, drugs, and theft? Sounds like I'm investing in Detroit, here take my copper pipes!
2. It is still controlled by people in some sense, that's why the hardfork happened. Because people were unhappy with conditions that Satoshi Nakamoto set.
5. You don't have to escrow or do anything like that with PayPal... if I want to order a new laptop online and I pay in Bitcoin and the laptop comes broken, who do I talk to? what if the seller blocks me? what can be done? Nothing.
6. It would be abused I'm sure, but so is Wal-mart's return policy when people go in and steal a $40 dollar item and bring it back to get some kind of compensation and say they bought it. People abuse systems regardless. But just as there are the 5% that ruin it for everyone, there's the 95% that really deserve compensation when they buy a broken item or an item that lasted 3 days before breaking. They deserve a refund. Which is why Walmart and many stores have buyer protection. We need it in place regardless of the abusers. There's abusers in every society, but I try to think that there's more good than bad people in the world. Although it seems the bad people are the ones adopting Bitcoin more than anyone else based on my eBay experiences and articles I've read.
7. The no fee system is what Satoshi and original adopters were so proud about in the beginning.
9. You say user fault, but how do you plan to teach every single user how to protect their wallets? especially the people that are not tech savvy? ( the average person )
An article I read recently - If you decide to buy bitcoin right now, after hearing about the big surge, you’d be buying high. The price of bitcoin may already have peaked (it had to happen before the news covered it, obviously), so anyone who buys right now are taking a dangerous bet. Despite bitcoin being at its highest ever recorded value, you’re counting on it to go even higher. That outcome is based on a volatile geopolitical issue: it depends on how North Korea reacts to current tensions. If North Korea does back down – or agree to do so due to concessions – then bitcoin values (like gold and the Japanese yen) can wind down just as quickly as they spiked.
Cryptocurrencies are a Form of Speculation
As the Monetary Authority of Singapore (MAS) has warned, cryptocurrencies such as bitcoin remain a speculative investment. Bitcoin is volatile, and has gone through several spikes and crashes. When these happen, the price movements in bitcoin don’t happen in small increments. Their value follows a whipsaw pattern, and it’s not uncommon to see losses or gains happen in increments of 20 per cent or more. While big gains are possible, it’s equally possible to lose much more than you initially invested. That makes bitcoin appropriate only if you’re looking for a high-risk alternative to complement your portfolio; it’s definitely not something to stake your life savings or retirement fund on.
Cryptocurrencies Can Be Hard to Spend or Liquidate
The main worry with bitcoin – and other cryptocurrencies – is the collapse of secondary markets. If things look bad, few investors will be ready to buy (even if they are, it will be at an extortionate price). When this happens, there are few avenues to exchange your Bitcoin for cash. One of the long term issues with bitcoin has been its lack of use in mainstream markets: you can’t go ezbuy or Carousell and start buying things with it or spend it in your grocery store. This results in a situation where, if bitcoin crashes, your only solution is to (1) sell it for dirt cheap to the few people willing to buy, or (2) hold on to it and hope it recovers, risking the loss of your entire investment if it never does. In any case, this means that money committed to bitcoin is likely to stay that way. You can’t cash it out without risking a loss – so make sure you have other savings on hand before you buy into it."
End of the day, people need a house, people need groceries, people don't need bitcoin. Very risky investment. If I see it drop to the 400 range again, I'll probably get a few coins, but I do not know if there is a permanent future ahead for bitcoin ( or any other cryptocurrency for that matter ) I guess when I'm 80 I'll either look back at this and be like "I was ridiculously stupid" or "I knew I was right!" I guess that part is yet to be seen. But I think it'll be the latter. I don't think this is revolutionary. I don't think there's anything unique about Bitcoin that can't be duplicated, or even made better. What if someone makes a bitcoin that if hacked funds can be returned? wallets were more simple and easy to understand for the average person? where there was so much protection that they have been around for over 15 years without any major scandals like MtGox etc? A place with REAL customer support I can call if I have a question? wait, that place kinda exists. It's called PayPal.
I do have to agree whatever you said does make sense,and yes at the end of the most people don't give shit about bitcoin if they have whatever they want i.e. a house,groceries,and much more.And about the updated bitcoin,i guess people would definitely use the updated one with whatever name it has been invented with and again like i said people won't give a shit about bitcoin then.I know a lot of people are not tech savvy but you can't help it as every one takes different time to learn something. And there are people who think that bitcoin can world poverty or change the world standing alone on top of the world. The hell it wont unless and until each and everyone in the world alive knows how to use tech related stuff, and its only the first thing to do just so you know. 2. It is still controlled by people in some sense, that's why the hardfork happened. Because people were unhappy with conditions that Satoshi Nakamoto set.
5. You don't have to escrow or do anything like that with PayPal... if I want to order a new laptop online and I pay in Bitcoin and the laptop comes broken, who do I talk to? what if the seller blocks me? what can be done? Nothing.
6. It would be abused I'm sure, but so is Wal-mart's return policy when people go in and steal a $40 dollar item and bring it back to get some kind of compensation and say they bought it. People abuse systems regardless. But just as there are the 5% that ruin it for everyone, there's the 95% that really deserve compensation when they buy a broken item or an item that lasted 3 days before breaking. They deserve a refund. Which is why Walmart and many stores have buyer protection. We need it in place regardless of the abusers. There's abusers in every society, but I try to think that there's more good than bad people in the world. Although it seems the bad people are the ones adopting Bitcoin more than anyone else based on my eBay experiences and articles I've read.
7. The no fee system is what Satoshi and original adopters were so proud about in the beginning.
9. You say user fault, but how do you plan to teach every single user how to protect their wallets? especially the people that are not tech savvy? ( the average person )
An article I read recently - If you decide to buy bitcoin right now, after hearing about the big surge, you’d be buying high. The price of bitcoin may already have peaked (it had to happen before the news covered it, obviously), so anyone who buys right now are taking a dangerous bet. Despite bitcoin being at its highest ever recorded value, you’re counting on it to go even higher. That outcome is based on a volatile geopolitical issue: it depends on how North Korea reacts to current tensions. If North Korea does back down – or agree to do so due to concessions – then bitcoin values (like gold and the Japanese yen) can wind down just as quickly as they spiked.
Cryptocurrencies are a Form of Speculation
As the Monetary Authority of Singapore (MAS) has warned, cryptocurrencies such as bitcoin remain a speculative investment. Bitcoin is volatile, and has gone through several spikes and crashes. When these happen, the price movements in bitcoin don’t happen in small increments. Their value follows a whipsaw pattern, and it’s not uncommon to see losses or gains happen in increments of 20 per cent or more. While big gains are possible, it’s equally possible to lose much more than you initially invested. That makes bitcoin appropriate only if you’re looking for a high-risk alternative to complement your portfolio; it’s definitely not something to stake your life savings or retirement fund on.
Cryptocurrencies Can Be Hard to Spend or Liquidate
The main worry with bitcoin – and other cryptocurrencies – is the collapse of secondary markets. If things look bad, few investors will be ready to buy (even if they are, it will be at an extortionate price). When this happens, there are few avenues to exchange your Bitcoin for cash. One of the long term issues with bitcoin has been its lack of use in mainstream markets: you can’t go ezbuy or Carousell and start buying things with it or spend it in your grocery store. This results in a situation where, if bitcoin crashes, your only solution is to (1) sell it for dirt cheap to the few people willing to buy, or (2) hold on to it and hope it recovers, risking the loss of your entire investment if it never does. In any case, this means that money committed to bitcoin is likely to stay that way. You can’t cash it out without risking a loss – so make sure you have other savings on hand before you buy into it."
End of the day, people need a house, people need groceries, people don't need bitcoin. Very risky investment. If I see it drop to the 400 range again, I'll probably get a few coins, but I do not know if there is a permanent future ahead for bitcoin ( or any other cryptocurrency for that matter ) I guess when I'm 80 I'll either look back at this and be like "I was ridiculously stupid" or "I knew I was right!" I guess that part is yet to be seen. But I think it'll be the latter. I don't think this is revolutionary. I don't think there's anything unique about Bitcoin that can't be duplicated, or even made better. What if someone makes a bitcoin that if hacked funds can be returned? wallets were more simple and easy to understand for the average person? where there was so much protection that they have been around for over 15 years without any major scandals like MtGox etc? A place with REAL customer support I can call if I have a question? wait, that place kinda exists. It's called PayPal.
Quote from: CerealKing
4. My dad can't even turn a desktop computer on ( not joking ) my dad grew up in the 1950s and knows nothing about technology, to try to get him to adapt to it would be harder than building a bridge from California to Hawaii 
My point is, MANY people don't understand technology and never will, my mom gets angry at her phone when she touches something wrong and can't figure out how to open facebook back up on her phone, so I have to calm her down and say mom press that icon there, now you go ahead and teach her about blockchain technology and how to open a wallet and use it please... and still half of the world doesn't use the internet yet. But those half that do not use the internet use real currency.
Very well said,indeed. My parents are also getting old and i don't know how to explain on how to use bitcoin or any other crypto-currency. It was a bit difficult to explain them on how to use a phone,but i guess they will get a hang of it after i explain 100 times about crypto to them. My point is, MANY people don't understand technology and never will, my mom gets angry at her phone when she touches something wrong and can't figure out how to open facebook back up on her phone, so I have to calm her down and say mom press that icon there, now you go ahead and teach her about blockchain technology and how to open a wallet and use it please... and still half of the world doesn't use the internet yet. But those half that do not use the internet use real currency. 
