My view on bitcoin

[tokeweed]

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up.  You want moon??  There! Good job Willy!  Everyone happy.  Willy says fuck ya'll.

Then we can say the problem for bitcoin is the willy bot, and that bot used a lot of FIAT currencies... so the problem is the FIAT 'part' . I think we have a problem!

Get Willy to pump BTC to over 10,000 USD.  These threads and bullshit opinions about the problems of BTC...  GONE!

Everybody will start counting their benjamins.

I think you're right. On the long run this is what 90% of the people in here want.

[redsn0w]

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up.  You want moon??  There! Good job Willy!  Everyone happy.  Willy says fuck ya'll.

Then we can say the problem for bitcoin is the willy bot, and that bot used a lot of FIAT currencies... so the problem is the FIAT 'part' . I think we have a problem!

Get Willy to pump BTC to over 10,000 USD.  These threads and bullshit opinions about the problems of BTC...  GONE!

Everybody will start counting their benjamins.

I think you're right. On the long run this is what 90% of the people in here want.

It is normal, everyone want the equivalent in FIAT currencies (dollar, euro, etcc) no one at the end want really to 'own' or have bitcoin, because bitcoin is nor mainstream. It is a normal 'thought', and don't blame me .

[tokeweed]

I'm not blaming anyone.  I find the whole thing hilarious actually.

[amiryaqot]

I don't agree. Bitcoin's problem is not fiat but the lack of mass adaption. This however results from too few useful real life applications which using Bitcoin. It is too hard to get into all this Bitcoin stuff when you don't have a technical background or interest.

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

The lack of mass adoption is a consequence of the 'lack of knowledge' and we know that some people don't want to learn and don't like the "new technology" so I think this is another problem.

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up.  You want moon??  There! Good job Willy!  Everyone happy.  Willy says fuck ya'll.

Then we can say the problem for bitcoin is the willy bot, and that bot used a lot of FIAT currencies... so the problem is the FIAT 'part' . I think we have a problem!

Get Willy to pump BTC to over 10,000 USD.  These threads and bullshit opinions about the problems of BTC...  GONE!

Everybody will start counting their benjamins.

I think you're right. On the long run this is what 90% of the people in here want.

well i wish that would happen soon i will be millionaire at this when BTCitcoin reaches $10,000 each in price, my view is also that but we need first mass adoption and more public awareness about this great invention of  21st century.

[Beliathon]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

[Erza]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

And this impatience will lead many people to the bad moves that make them dump their bitcoin when its not in the right time. People will feel uneasy when it start to rise little by little and start to sell and dump everywhere

[Kprawn]

Let the day traders and price watchers worry about these things.... They are all singing the same song.."Show me the Money!!!!"

There are a lot more than a currency here... and they are on the wrong boat. 

When Bitcoin goes mainstream, it would not be for it's currency feature. {Think Smart contracts} 

[RodeoX]

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

[S4VV4S]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

That's true, however, people want to also know how much their BTC is worth now.

Don't forget that a lot of people bouvht when BTC was around $1200 because of the hype.

Now, those who didn't panic sell are waitting for their investment to be worth it.

[Phat Buzz Tart]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

That's true, however, people want to also know how much their BTC is worth now.

Don't forget that a lot of people bouvht when BTC was around $1200 because of the hype.

Now, those who didn't panic sell are waitting for their investment to be worth it.

Yeah I know a couple of friends of mine who bought at that price.
One of them panic sold most of his

[dothebeats]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

Correct. Bitcoin is not the problem here, it is the impatient people sitting around and waiting for something to happen that could possibly make them rich. That is not the case here, we are here for innovations, not for getting rich. We don't want to get controlled by the banks so we are here to oppose that.

[gentlemand]

I think you're right. On the long run this is what 90% of the people in here want.

I think everyone wants to be richer than they are now. It would be far cooler to be richer with BTC that can buy you everything your heart desires.

If I had to convert back to my local currency to get the things I need and want in the future I'd assume it was on its way to going nowhere.

[ashour]

The problem I see with bitcoin is what the hell is taking the Willy bot so long to come back. That would surely shut everyone up.  You want moon??  There! Good job Willy!  Everyone happy.  Willy says fuck ya'll.

To operate Willy you would need massive amounts of bitcoins and a stable exchange. To take the price to the Moon you would  need Willy to run a bitcoin exchange with a massive trading volume to actually manipulate the price.

[AtheistAKASaneBrain]

Most bitcoiners want bitcoin to increase in value so bad, they will do anything it takes to make it go mainstream but don't really see where this is will lead us or even care at all how bitcoin will look like in the future.

I've known about bitcoin for very little time but from what i could gather here and there (correct me if i'm wrong), bitcoiners have been very enthousiast about bitcoin for many reasons one being that it is an alternative currency which is not manipulated by banks.

So when I see goldman sacks investing in bitcoin and everyone wetting their pants i am starting to think that we might have two differents crowds of bitcoiners, one that wants the currency to succeed and one that wants the value to rise but don't really care about the currency itself.

In my opinion people who wants the value to increase and wants rapid mainstream adoption will be responsible for bitcoin to never go mainstream, the blockchain will though, people will be transfering fiat between eachothers using the bitcoin blockchain or another one, but what is the point of having a blockchain in the background doing all the work and fiat on top of it? people will have no incentive to use the actual bitcoin, merchants will probably in the future have fiat denomination for their digital payment, and all transactions that were previously cash could be monitored by government with the help of bitcoin banks like coinbase and circle.

One of the awesome things about bitcoin is that it helps understand how money works in our current system, it raises very interesting questions, it educated people about what actually is money and also raises awarness about current manipulated fiat system.

By putting the blockchain in the background with fiat on top we will slowly remove all of these subjects from being discussed that are so important.

Bitcoin to me is not gold2.0 as some believes, gold is an asset bitcoin is an alternative currency.(my opinion)

The question i ask is why do all these people want bitcoin to go mainstream apart from the fact that they will earn money from that? if bitcoin is mainstream one day we will probably never hear about the word "bitcoin" anymore.

My post may sound a bit like i am some anarcho libertarian but I am absolutely not, i think government has a role in society but this role is not the issuance of money, bitcoin fascinates me because it is sound money and not controlled by anyone.

Even if bitcoin blockchain remains decentralized what is the point of having fiat going through it ?

Personnaly i think that's a good thing that we have many different crypto currencies, some very interesting open source projects of bitcoin ecosystem could very easily be rolled out on another crypto but i just think that bitcoin is not heading in the right direction because people do not give it the time to.

Bitcoin was meant to be an alternative currency not a new means of payment, we have that already it's called paypal and the version 2 of paypal is what bitcoin is slowly becoming.

The intrinsic beauty of BTC is that it is both an asset and a currency. It's somewhere you can use to store your wealth just like you do with Gold or whatever you use, and it's also a means of payment where tons of places will accept direct payment with it (unlike gold).

[dothebeats]

Most bitcoiners want bitcoin to increase in value so bad, they will do anything it takes to make it go mainstream but don't really see where this is will lead us or even care at all how bitcoin will look like in the future.

I've known about bitcoin for very little time but from what i could gather here and there (correct me if i'm wrong), bitcoiners have been very enthousiast about bitcoin for many reasons one being that it is an alternative currency which is not manipulated by banks.

So when I see goldman sacks investing in bitcoin and everyone wetting their pants i am starting to think that we might have two differents crowds of bitcoiners, one that wants the currency to succeed and one that wants the value to rise but don't really care about the currency itself.

In my opinion people who wants the value to increase and wants rapid mainstream adoption will be responsible for bitcoin to never go mainstream, the blockchain will though, people will be transfering fiat between eachothers using the bitcoin blockchain or another one, but what is the point of having a blockchain in the background doing all the work and fiat on top of it? people will have no incentive to use the actual bitcoin, merchants will probably in the future have fiat denomination for their digital payment, and all transactions that were previously cash could be monitored by government with the help of bitcoin banks like coinbase and circle.

One of the awesome things about bitcoin is that it helps understand how money works in our current system, it raises very interesting questions, it educated people about what actually is money and also raises awarness about current manipulated fiat system.

By putting the blockchain in the background with fiat on top we will slowly remove all of these subjects from being discussed that are so important.

Bitcoin to me is not gold2.0 as some believes, gold is an asset bitcoin is an alternative currency.(my opinion)

The question i ask is why do all these people want bitcoin to go mainstream apart from the fact that they will earn money from that? if bitcoin is mainstream one day we will probably never hear about the word "bitcoin" anymore.

My post may sound a bit like i am some anarcho libertarian but I am absolutely not, i think government has a role in society but this role is not the issuance of money, bitcoin fascinates me because it is sound money and not controlled by anyone.

Even if bitcoin blockchain remains decentralized what is the point of having fiat going through it ?

Personnaly i think that's a good thing that we have many different crypto currencies, some very interesting open source projects of bitcoin ecosystem could very easily be rolled out on another crypto but i just think that bitcoin is not heading in the right direction because people do not give it the time to.

Bitcoin was meant to be an alternative currency not a new means of payment, we have that already it's called paypal and the version 2 of paypal is what bitcoin is slowly becoming.

The intrinsic beauty of BTC is that it is both an asset and a currency. It's somewhere you can use to store your wealth just like you do with Gold or whatever you use, and it's also a means of payment where tons of places will accept direct payment with it (unlike gold).

But let's face it: most of the time, bitcoin users often use bitcoin as a speculative asset more than being a currency. Most people hoard rather than use bitcoin as a form of payment. That doesn't seem to be good, in my opinion.

[futureofbitcoin]

I think it's good for bitcoin that people are looking for profits rather than some lame ideology.

Besides, just because Goldman Sachs invested a small amount, doesn't mean they'll somehow have control over bitcoin. Isn't that kind of the point? A malicious actor cannot take control over bitcoin?

It doesn't matter whether some is in it for profit or not, if they're investing and doing things for the environment, it's a good thing for bitcoin. Having a bunch of delusional anarchists thinking bitcoin will cure cancer and find the answer to life the universe and everything keep going on and on about how great decentralization is won't do anything for bitcoin. Most people don't care.

It'll never go mainstream without the people building on bitcoin and taking profits.

[acquafredda]

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

Yes, that's it! This is a good point.
However, the problem comes when something like what we discussed here https://bitcointalk.org/index.php?topic=1040925.msg11242373#msg11242373 happens.

[RodeoX]

Some interesting thoughts OP.

For me this is not a dichotomy. I am a bitcoin fan because it is outside of banks and governments. However, I don't mind banks using it because they can't control it the way dollars are manipulated. Fair money does not not need rules for users, even if the user is a bank.

Yes, that's it! This is a good point.
However, the problem comes when something like what we discussed here https://bitcointalk.org/index.php?topic=1040925.msg11242373#msg11242373 happens.

I think I see what you mean. With their spending power a few players could buy a huge % of BTC.? That could happen, but there are forces that work against it. If someone started buying thousands of bitcoins a day it would push the price ever higher. They would be both collecting coins and driving the price. Imagine how high it would go if someone tried buying 10% of the coins. I just don't see it as cost effective. Besides, mine are not for sale. Well... Ok, I'll sell a BTC for $1500.

 

[gentlemand]

I think I see what you mean. With their spending power a few players could buy a huge % of BTC.? That could happen, but there are forces that work against it. If someone started buying thousands of bitcoins a day it would push the price ever higher. They would be both collecting coins and driving the price. Imagine how high it would go if someone tried buying 10% of the coins. I just don't see it as cost effective. Besides, mine are not for sale. Well... Ok, I'll sell a BTC for $1500.
 

How many coins are actually on all exchanges at any one time? A few tens of thousands maybe.

We all know that market cap is a silly measurement. Nowhere near that much money has ever been poured in. It would also work in the opposite direction too. If someone was hell bent on owning 1 million coins then prices would be in the Oort cloud long before they obtained even half of them.

[randy8777]

tldr version?

Bitcoin's problem is fiat. And people don't care because they want higher fiat prices.

Bitcoin has no problems. Bitcoin doesn't care anymore about you any more than the sun. It is you folks who have the problem, and it is called impatience.

Correct. Bitcoin is not the problem here, it is the impatient people sitting around and waiting for something to happen that could possibly make them rich. That is not the case here, we are here for innovations, not for getting rich. We don't want to get controlled by the banks so we are here to oppose that.

you can't blame people for trying to make quick profits. let's face it, the majority of the people are interested in bitcoin because it possibly can make them loads of profit.