News of Bitcoin’s death is greatly exaggerated

[bornil267645]

The news of bitcoin's death, it seems, is greatly exaggerated, especially now that the banking world is taking the digital currency seriously. Last fall, two U.S. banks agreed to use software created by Ripple Labs, whose real-time, cross- border payments product is based on bitcoin technology. In January, a startup called Coinbase, which essentially stores people's bitcoins for them, said it had received $75 million from investors, including the New York Stock Exchange, the Spanish bank BBVA, former Citigroup CEO Vikram Pandit and former Thomson Reuters CEO Tom Glocer.

http://www.bloombergview.com/articles/2015-06-02/financial-interest-shows-bitcoin-death-exaggerated

[oblivi]

The news of bitcoin's death, it seems, is greatly exaggerated, especially now that the banking world is taking the digital currency seriously. Last fall, two U.S. banks agreed to use software created by Ripple Labs, whose real-time, cross- border payments product is based on bitcoin technology. In January, a startup called Coinbase, which essentially stores people's bitcoins for them, said it had received $75 million from investors, including the New York Stock Exchange, the Spanish bank BBVA, former Citigroup CEO Vikram Pandit and former Thomson Reuters CEO Tom Glocer.

http://www.bloombergview.com/articles/2015-06-02/financial-interest-shows-bitcoin-death-exaggerated

No one but nerds and their fake FUD accounts are fighting over this. People that go outside their basements are out there making business and making things happen. Bitcoin will go on and people choose how it goes on, Core or XT. Bitcoin is more alive than ever. Stop the FUD and the drama.

[anderson00673]

Thanks that is a good story from a (sometimes) reputable source.  I agree 100% and I have no idea what these fudders think they are going to accomplish.  If they had been more subtle then maybe they might have convinced some people.  But they spread their crap around this forum in the most obvious ways possible.  Clearly someone didn't do their homework.  Its not a bad thing I guess. 

Thanks again for the story, and a sensible non-insane thread for once.

[subSTRATA]

Agreed; people are overreacting every bit of news bitcoin is associated with, especially over this fork vs anti-fork debate. Time will tell what the popular consensus will be, no use preaching "the end is near" until we know what'll happen.

[subSTRATA]

The entire consensus belief is the root of all this trouble. Do you think a company relying on "employee consensus" could have competed with a business with Steve Jobs as the helm. That's impossible.

A consensus model leads to nothing more than a circle jerk of inaction. Its sounds good on the surface, but in the real world it has never worked. I am unable to find a single example of how a consensus system has succeeded. What does work, is the "illusion of consensus" because it attracts users.

i see your point; the idea of "consensus" does tend to create a hivemind of sheeple, but still, no use panicking over it all, just going to sit back and watch what happens.

[moriartybitcoin]

the Market DOMINATES .. and the price of Bitcoin says the fork is a non-issue

[pooya87]

we are way far away from bitcoin being dead or close to dying.

nowadays bitcoin has some problems like the current arguments about the block size, or the price which is falling and makes a lot of users uneasy. but it has a long way to go to be considered dying.

there are still a lot of adopters and investors in bitcoin, and there are big whales that are bagholders and don't want to see bitcoin fail.

[Daniel91]

Bitcoin is still new player in the field, relatively unknown to the public with its problems as well as benefits in terms of other currencies.
It's obvious that global financial institutions and banks realize bitcoin and other virtual currency seriously and will do everything possible to stop this trend.
In the long run, they certainly see us as a threat to their financial monopoly and will do anything to stop us, even deliberate expand false news about the fall of BTC.
When average people realize the benefits of Bitcoin in regard to traditional currency, the bank will lose this battle and BTC will become mainstream.

[gogxmagog]

I don't see the FUD in OP? The article is optimistic, overly so even.
I'm more in line with mike Hearn when he says that the banks will look at the blockchain, but lose interest when they see how specific it is to Bitcoin. That is FUD, but legitimate FUD IMO

[Amph]

it is when you find a good dead asset that you start to invest into it and bringing it to a whole new level of greatness

notice how all the big company started their investments now and not at the 1200 peak, they wanted to have a full view of bitcoin, before starting to take it seriously

[Kazimir]

For a fun overview of all the times that Bitcoin "died", see http://BitcoinObituaries.com/

[ragi]

For a fun overview of all the times that Bitcoin "died", see http://BitcoinObituaries.com/

This is fun read, had a good laughs. Thanks!

[Ingatqhvq]

The threat is always there. But every time, bitcoin get strong.
It's hard to be killed.

[neoneros]

The orbituary link is nice, thanks for sharing!

From the moment I joined this forum there have been numerous posts declaring bitcoin dead. So many reasons bitcoin should have been dead if they were all true it would have died at birth. But it did not die, not then and not now. The community is still believing and working hard, debating, strugling and trying to go forth. There always be ney sayers, let them say it, hopefully they will have to go on till the end of time, only then they will be right, but it is too late then even for them

[LFC_Bitcoin]

I must have read about bitcoin being dead, double/single digit coins over 500 times (that's a low estimate).
Too many trolls, FUDSTERS, paid shills & plain old haters around.
I understand people want the price to stay low for a number of reasons.
Bitcoin must have 'died' and risen from the dead so many times though  
There's too much money in bitcoin for it to die & it's too useful.
Everybody needs to sit back & relax, check the price in 10 years people, we are in no rush to power up that rocket yet.
Good things come to those who wait.

[Herbert2020]

there are always trolls and haters that try to spread these FUD. and they are everywhere and not only in bitcoin.

the funny thing is everytime there is a small change in price, you can see a lot of these threads all around the forum and other places. especially in speculation thread.

every $2 decrease causes 10 topics on bitcoin is doomed

[Jesu]

I don't see the FUD in OP? The article is optimistic, overly so even.
I'm more in line with mike Hearn when he says that the banks will look at the blockchain, but lose interest when they see how specific it is to Bitcoin. That is FUD, but legitimate FUD IMO

No one is saying the op is FUD, but the trolls who are on here constantly proclaiming bitcoin to be dead when in fact it is very much alive and kicking as evidenced by the article. If it was dead companies wouldn't be pouring millions upon millions of dollars into developing tech and businesses around it.

[AlgoSwan]

every $2 decrease causes 10 topics on bitcoin is doomed

They are doing this not because they're lack of BTC market knowledge or show a hostility towards BTC. They're doing this because of making a hot topic. BTC was a revolution. And experienced historians know how can revolutions be stopped without using brute force: confusing minds of revolutionaries. This is what we're seeing now.

[AtheistAKASaneBrain]

The entire consensus "belief" is the root of all this trouble. Do you think a company relying on "employee consensus" could have competed with a business with Steve Jobs at the helm? That's impossible.

A consensus model leads to nothing more than a circle jerk of inaction. Its sounds good on the surface, but in the real world it has never worked. I am unable to find a single example of how a consensus system has succeeded. What does work, is the "illusion of consensus" because it attracts users.

The only way to build a true consensus coin is to have an integrated voting system within the client. Then the client becomes autonomous. Then the client becomes uniquely experimental. That might even work depending on the design and vote enforcement.

Actually Bitcoin works just like that. People will vote by running the Core client or the XT client, and when consensus is reached, only the for for XT can happen (90% of people using XT and not Core)

[thejaytiesto]

The main problem is a lot of noobs think that with the split of the fork they will lose their coins. Something is being a failure news/education wise for the users because so many are panicking for nothing.