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Author Topic: People don't want to invest into bitcoin because its a software  (Read 2966 times)
toinew (OP)
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June 03, 2015, 04:05:41 AM
Last edit: June 09, 2015, 10:39:10 AM by toinew
 #1

People can hack it  Angry

EDIT : Some additional arguments since it was initially a troll
Bad consequences of the software thing
  • The dev can change the software dramatically (like if some scientists could change gold composition, supply etc..)
  • A software, if not perfect, is vulnerable to hack/exploit/misuse (could relate to fake gold)
  • The developpement raises the question of centralism if there is one main dev, or face the issue of statu quo if the consensus cannot be reached (no such thing in gold)
  • It can be replicated pretty easily. It faces competition from other coins or simply other blockchains if some forks are not accepted by everyone.

I don't say it's a huge problem, i just say that for a reasonable person, that's one problem when you consider investing in something that has to be solid enough.

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June 03, 2015, 04:16:35 AM
 #2

PenguinFire
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June 03, 2015, 04:39:55 AM
 #3



You already broke the rules.  You replied.  Cheesy

saturn643
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June 06, 2015, 04:35:51 AM
 #4

You have no understanding of what bitcoin is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
Brewins
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June 06, 2015, 05:57:09 AM
 #5

Visit an mining farm and see concrete things that are not just software.

Visit a bank mainframe to see how much of the monetary system is software, and very old one
ammy009
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June 06, 2015, 06:02:27 AM
 #6

People can hack it  Angry

Please, don't miss a chance to invest into bitcoin, because it's a future of money

Amph
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June 06, 2015, 08:27:05 AM
 #7

there is no difference in hacking your pc and steal your wallet.dat and hack your pc and steal your bank account credentials, besides that bank will cover your ass in the case they still soemthing

that is maybe the only problem of bitcoin, not enough security because you are in fully control of your money, everything comes with a downside, you need to learn to secure your coins better
Q7
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June 06, 2015, 08:38:04 AM
 #8

People don't want to invest in fiat cash because it's paper. It tears up easily and if you happen to be on the street holding onto all the cash, you can easily get mugged. Oh yeah, and don't forget, every year you will find that the purchasing power of that paper money is decreasing making you getting less goods for the same amount.

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June 06, 2015, 09:42:44 AM
 #9

stupidity just reached a whole new level. instead of opening a thread like this, please take some effort to read about bitcoin to understand what it is and how it works.
BlackSpidy
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June 06, 2015, 05:48:31 PM
 #10

Money can be faked. It's just paper. Much less safe than software.

.


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ikydesu
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June 06, 2015, 08:42:48 PM
 #11

People can hack it  Angry

LOL. Fiat can hack too: http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0 Tongue
learn more about how to secure your wallet broh, choose a safe wallet(my advice is use desktop wallet), be your PC clean from any virus/malware/ect. Also please read this: https://bitcoin.org/bitcoin.pdf


~iki
Meuh6879
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June 06, 2015, 09:39:28 PM
 #12

people keep money in a ponzi schem ... because they trust the bank.





but, at the end, bank can hack the people (bail-in system). Lips sealed




bitcoin can't do this.  Roll Eyes




people must die to learn thing, i think ... well, perhaps, the end is at 2017 like the halving of bitcoin.  Grin
Brewins
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June 07, 2015, 02:54:05 AM
 #13

Bitcoin is math, not software.

Math can't be faked.
bornil267645
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June 07, 2015, 03:56:52 AM
 #14

Anybody who thinks Bitcoin is a soft ware they don't need to invest in Bitcoin at all. I mean, Bitcoin is the next big tech that can revolutionize the world economy and all you think is that it's software.

How lame can they get !!!

toinew (OP)
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June 07, 2015, 08:36:07 AM
 #15

Anybody who thinks Bitcoin is a soft ware they don't need to invest in Bitcoin at all. I mean, Bitcoin is the next big tech that can revolutionize the world economy and all you think is that it's software.

How lame can they get !!!

Sorry bro, but bitcoin is a software. Try harder next time
Amph
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June 07, 2015, 09:01:28 AM
Last edit: June 08, 2015, 03:05:53 PM by Amph
 #16

Anybody who thinks Bitcoin is a soft ware they don't need to invest in Bitcoin at all. I mean, Bitcoin is the next big tech that can revolutionize the world economy and all you think is that it's software.

How lame can they get !!!

Sorry bro, but bitcoin is a software. Try harder next time

yeah but, if you're the only one running it is worthless, it's like saying that internet is a software, the client is just a machine that control bitcoin, bitcoin are the operations of it, a bit different if you understood it
spazzdla
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June 08, 2015, 01:56:59 PM
 #17

Why are people talking with the OP..
BillyBobZorton
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June 08, 2015, 01:58:03 PM
 #18

Yeah, I guess people don't want to invest in Facebook, Instagram, Uber and the rest of billoaire marketcap softwares lol. Nice troll. Made me reply Cheesy
solid12345
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June 08, 2015, 02:20:56 PM
 #19

Yeah, I guess people don't want to invest in Facebook, Instagram, Uber and the rest of billoaire marketcap softwares lol. Nice troll. Made me reply Cheesy

LOL the Op is clearly trolling but there is some truth to what he is saying, Bitcoin still has the image of "magic internet money" in the average person's head.
Obviously we are conditioned to believe software applications like Office or Photoshop provides a utilitarian value and thus has worth but the general public still think of Bitcoin as some "fantasy" currency much like Xbox Points or something.
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June 08, 2015, 02:38:20 PM
 #20

In my experience, the main thing that distinguishes people who don't want to buy bitcoin, is the ability to understand the concept of an pyramid scheme.


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