Bitcoin really is useful. Just not in the way you think

[LakeBTC]

The Bitcoin world has been divided into three camps:

• those who think that bitcoin must be a scam;
• those who think it’s one of the most interesting technological developments in decades;
• and (the vast majority) those who have no idea what the fuss is about.

[...]

I can also see why laypeople are baffled by bitcoin because the thing that makes it work – the “blockchain” – is based on the kind of arcane cryptography that, like the peace of God in the Bible, passeth all understanding. As such, it looks like a species of black magic and something that is therefore best avoided.

All of which is understandable but unfortunate, because the technology underpinning cryptocurrencies such as bitcoin may turn out to be both transformational and benign in ways that we are just beginning to appreciate.

[...]

http://www.theguardian.com/commentisfree/2015/may/23/bitcoin-really-useful-not-in-way-you-think

[LiteCoinGuy]

camp 2 feels good.

[anderson00673]

I don't meet too many people tha tthink it is a scam, mostly I meet people that don't understand what it is or why it has value.  My general answer is "it has value because people agree that it does."  To this they may respond by saying its not backed by gold, or whatever.  But then I say that gold is only valuable because we all agree that it is.  Anyway that is hoe the usual conversation goes.

I don't think that you have to know anything about cryptography to understand how it works.  Its the same as your car motor: most people are not chemists or physicists, but you can still explain the basic mechanism to most people.  If the blockchain is explained in a way that is accessible then most people should get the idea. 

BTW am I allowed to be in two of those camps? 

[NorrisK]

I think the example of transferring rights is a good one! The blockchain can be used as a a giant legal log as well. Just post your invention in the blockchain and you have prior art. nice

[nextgencoin]

While I applaud the use of the blockchain for other decentralised services I wish people would see that MOST of these articles that are saying the Blockchain tech is useful are really just another concerted effort to negate Bitcoin as a currency. They all start with well of course Bitcoin is BS as a currency BUT hey we can use it for something good anyway. This is simply a development of the onslaught of negative press related to Bitcoin.

The best lies are the ones with half truths. Bitcoin is a currency and has the 'potential' to turn the world upside down and rid the world of financial corruption at the core i.e. the FED if its accepted by the masses. Don't believe any article that suggests to you otherwise.

[BIT-Sharon]

I am the one in camp two. It is definitely the techonology revolution, and will change the currency ecosystem in the future for the idea of digital encryption currency. It is the tendency.

[S4VV4S]

I am sure that the majority of people will say they belong to camp 2.

Personally, I think there are more than 3 camps.
The ones who see it as money making opportunity for example.

[ragi]

You forgot the people who don't even know what the hell is that. I don't think they fit in category 3.

[turvarya]

The article is pretty stupid.
There are way more camps, than mentioned in it.

[Amph]

there are also those that don't care about it, but they aren't necesarly the same people that don't know what bitcoin is, the article is pretty restricted, on the general options, that can be perceive from the bitcoin world

there are sub categories, like those who think that it is a ponzi/scam but then they are actually investing in it...

[Lauda]

The article is pretty stupid.
There are way more camps, than mentioned in it.

Your opinion is subjective thus pretty invalid. If you're going to start mentioning camps of people who understand Bitcoin but think that altcoins are superior forget about it. This is the wrong section to be endorsing altcoins, actually the wrong forum.

The Bitcoin world has been divided into three camps:

• those who think that bitcoin must be a scam;
• those who think it’s one of the most interesting technological developments in decades;
• and (the vast majority) those who have no idea what the fuss is about.

Actually this list is pretty correct. We don't have to narrow it to every single camp. One would also be named Dank camp, or BADecker camp; however, that's just unnecessary.

camp 2 feels good.

It sure does. Sometimes I get the feeling that our minds are far ahead than those of the people in camp 1 and 3.

[Hazir]

I wish that everybody just agree that being part of camp 2 is the real path to take. And about that 'bitcoin=scam' way of thinking we all know that only people who don't know how bitcoin works exactly think that way.
Everyone else with sufficient knowledge about cryptocurrencies will just laugh at this statement.

[SpanishSoldier]

camp 2 feels good.

I'm in Camp 2. 

[Pursuer]

I am a part of camp 2 and think that bitcoin is one of the most interesting technological developments in our decades.
also I believe there is no reason to consider bitcoin as scam and it is far different from people scamming with bitcoin or bitcoin related.

[erikalui]

I don't belong to all the 3 camps and for me bitcoin is just a virtual crypto currency that has value today but it may not have any value tomorrow. There are people who even know about bitcoins but don't bother to use them due to the uncertainty when it comes to the value while those people too exist who have invested in bitcoins but have suffered huge losses.

There are very less number of people who fall in the second camp category as not many do know how bitcoins are mined and how their value is determined. They just find it useful as it is a currency. There are yet many currencies than are evolving just like bitcoins did and those currencies may have b=more value than 1 BTC. Still it's adopters would be lesser than expected.

[BTCevo]

I am sure that the majority of people will say they belong to camp 2.

Personally, I think there are more than 3 camps.
The ones who see it as money making opportunity for example.

Nope, for me personally I'm using this bitcoin is pure to get more money from this, nothing else. Its true that there are more of these camps but I think this is what mostly what people will think bitcoin is. Most of them can't even describe what are they using this bitcoin for. Some of them are using this just to have fun or may be they want to learn thing from this. They have their own reason to think what role that bitcoin plays in their life

[AlgoSwan]

I think you all are missing an important point.

Think BTC as a large multinational corporation, has not started paying dividends yet. One big difference: This corporation won't issue new shares (just a limited number of shares available for investors).

OK. Do you see the big picture now? Hey wise guardian do you see it?

[BillyBobZorton]

New methods to use Bitcoin will keep appearing with time, as the technology progress. It started as a currency, now we realized the potential of bitcoin blockchain. You should watch this:

https://www.youtube.com/watch?v=4nOfHpOFhN8

[thejaytiesto]

New methods to use Bitcoin will keep appearing with time, as the technology progress. It started as a currency, now we realized the potential of bitcoin blockchain. You should watch this:

https://www.youtube.com/watch?v=4nOfHpOFhN8

I wonder if Satoshi ever envisioned that Bitcoin would become this huge thing with a million different uses beyond monetary transactions. It's pretty crazy that the project is only 5 years old.

[anderson00673]

While I applaud the use of the blockchain for other decentralised services I wish people would see that MOST of these articles that are saying the Blockchain tech is useful are really just another concerted effort to negate Bitcoin as a currency. They all start with well of course Bitcoin is BS as a currency BUT hey we can use it for something good anyway. This is simply a development of the onslaught of negative press related to Bitcoin.

The best lies are the ones with half truths. Bitcoin is a currency and has the 'potential' to turn the world upside down and rid the world of financial corruption at the core i.e. the FED if its accepted by the masses. Don't believe any article that suggests to you otherwise.

You may be right, but in this case I think even bad publicity might be good.  At least people are becoming aware of bitcoins.  Also your average person might want some shady cash: in the usa for example there is an absurd law against online gambling that was surely bought by the Indian casinos and vegas.  Your average american might see this and think it would be a great way to put 20 bucks on sunday's game.

I hope that bitcoins could somehow rid the world of corruption, but somehow I doubt that those in power would let that happen.  I tend to be cynical I I would love to be wrong in this case.