Bitcoin has already succeeded

[coinableS]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

[NUFCrichard]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

Success is relative. If Bitcoin stays at the size it is now for another few years, it will have essentially failed.  It is only a matter of time until we enter a cashless society, and an internet currency seems very very likely.
I would guess that if bitcoin doesn't really catch on the another system will have instead.

If that is the case, Bitcoin won't be looked on as a success.  It's a tipping point now, it could go either way imo.

[Paashaas]

+1 for OP.

Bitcoin is going mainstream and i'm gonna enjoy this ride will full glory. Missed the Facebook ore Google train? Well, Bitcoin got much more power than those 2 combined, let's sink that in...

If not, ppl are trying to achiev the wrong road.

[manselr]

+1 for OP.

Bitcoin is going mainstream and i'm gonna enjoy this ride will full glory. Missed the Facebook ore Google train? Well, Bitcoin got much more power than those 2 combined, let's sink that in...

If not, ppl are trying to achiev the wrong road.

Most will sell along the way because seeing a lot of zeroes in your bank account feels good, therefore the ones that hold thought all the good times and storms will end up even more wealthy, to the point we don't really need to sell all of it just like no one that has a clue on having a solid portoflio would sell all of their gold if it went to 2K+

[LFC_Bitcoin]

BTC has succeeded in the sense that the technology behind it (the blockchain) is an unrivalled discovery, Satoshi is a genius. It's the fastest & cheapest way to send money to anybody in the world & they can get it almost instantly (minus the 6 confirmations) providing they have access to the internet.
Now we come to the problem - BTC has not succeeded yet as far as mainstream adoption goes, we are still a long way from that. Also the price is pretty awful at the moment. I am very bullish & have really high hopes for BTC long term but like somebody above said it could still go either way yet.

[g-unit]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

Success is relative. If Bitcoin stays at the size it is now for another few years, it will have essentially failed.  It is only a matter of time until we enter a cashless society, and an internet currency seems very very likely.
I would guess that if bitcoin doesn't really catch on the another system will have instead.

If that is the case, Bitcoin won't be looked on as a success.  It's a tipping point now, it could go either way imo.

This makes no sense. What price does bitcoin have to be at to be a success and not a failure? In 1 year? 2? 5? Now? How many merchants have to be accepting it now? In 1 year? 5? 10? Etc?

[vanobe]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

Success is relative. If Bitcoin stays at the size it is now for another few years, it will have essentially failed.  It is only a matter of time until we enter a cashless society, and an internet currency seems very very likely.
I would guess that if bitcoin doesn't really catch on the another system will have instead.

If that is the case, Bitcoin won't be looked on as a success.  It's a tipping point now, it could go either way imo.

This makes no sense. What price does bitcoin have to be at to be a success and not a failure? In 1 year? 2? 5? Now? How many merchants have to be accepting it now? In 1 year? 5? 10? Etc?

Nowadays you might see one or two places that accept Bitcoins in city centers. Anywhere else it's difficult to find shops that accept Bitcoin. For Bitcoin to get mainstream success it will need to be accepted in numerous normal shops everywhere, not only in city centers. The number of merchants accepting it is far more important than the price.

[Amph]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

Success is relative. If Bitcoin stays at the size it is now for another few years, it will have essentially failed.  It is only a matter of time until we enter a cashless society, and an internet currency seems very very likely.
I would guess that if bitcoin doesn't really catch on the another system will have instead.

If that is the case, Bitcoin won't be looked on as a success.  It's a tipping point now, it could go either way imo.

This makes no sense. What price does bitcoin have to be at to be a success and not a failure? In 1 year? 2? 5? Now? How many merchants have to be accepting it now? In 1 year? 5? 10? Etc?

a price that can satisfy all the good big merchants(still amazon and ebay missed, but its decentralized version is coming, so maybe we don't need those two) volume and their customers, surely not a tiny one like the 4B market cap that we have now

[Alley]

The institutional investors are the next step for mainstream adoption.  I think general public will be last.

[Bitcoin Explorer]

The institutional investors are the next step for mainstream adoption.  I think general public will be last.

The New York Stock exchange and BBVA have invested in coinbase. They do realize the potential in bitcoin. Moreover, even Goldman Sachs has invested in Circle.

[Biodom]

there is a lot that needs to be changed in bitcoin for wide acceptance: transaction limits, how to reverse payments, improved fungibility, etc.

[nkryptd]

I think for bitcoin to become a success,  it needs several  things.


 One,  frictionless transactions in real time, zero confirmation speed with one touch settlements.

Zero thought high security. Maybe third parties managing people's btc, I say this because people fuck up stupid shit a lot.

Merchants need to stop being greedy and start offering discounted prices for purchases with btc. Stop marginalizing transaction fees in to your bottom line.

Btc has to become cool to the general pub. Celebs need to start using this in movies and speaking about it IRL.

Banks need to adopt btc into their fold, I want to see btc freely exchangeable side be side with fiat on my account page.

[NUFCrichard]

In the first few years of bitcoin it was only used by uber nerds and crypto anarchists. Then came the web dark drug market. And when you think about it, Bitcon has only been in the realm of "normal" people since it's climb in 2013.

Since then it has attracted numerous investors, corporations and professionals that are not uber nerds, anarchists or online drug-lords. The inflation rate was/is too high to stabilize any sort of consistent growth. Still there is enough interest to absorb the 3,600 new coins per day without causing a major crash. This is how we know bitcoin has already succeeded. There wasn't enough interest to support 3,600 coins per day at $700+ per coin, but we have seem to found an equilibrium around the current price or $800K-$900K per day. If bitcoin were a flop we would have already seen the price back down to the single or low double digits. The "normal" buyers are here and have been here since 2013 and they don't appear to be going anywhere.

So go ahead buy another coin and tuck it away for safe-keeping, because bitcoin is already a success. When the next wave, mainstream, comes along the inflation rate will be lower and the demand will be greater.

Success is relative. If Bitcoin stays at the size it is now for another few years, it will have essentially failed.  It is only a matter of time until we enter a cashless society, and an internet currency seems very very likely.
I would guess that if bitcoin doesn't really catch on the another system will have instead.

If that is the case, Bitcoin won't be looked on as a success.  It's a tipping point now, it could go either way imo.

This makes no sense. What price does bitcoin have to be at to be a success and not a failure? In 1 year? 2? 5? Now? How many merchants have to be accepting it now? In 1 year? 5? 10? Etc?

It isn't really about price, but price will follow adoption.  At the current usage level, it is a small niche market.  It hasn't exactly made massive waves yet.  It will be seen as a success in the future if it grows into a major currency, if it doesn't then this phase won't be seen as a success.

Look at minidiscs, they were quite popular for a time, but ultimately weren't adopted and failed.  Most people wouldn't say that they were a success now.  If mp3 players hadn't come around and minidiscs had taken off big time, it would have been a successful starting point for them.  Same with bitcoin now, it could go either way.

[randy8777]

that's right. bitcoin is already going strong. don't think there will be an other alternative to bitcoin within the comming 10 or so years. and we're just at the beginning still. best years will come.

[coinableS]

Bitcoin is already a success. If it were a failure we would have known by now with lack of interest and a single or low double digit price. In 2013 the thought that there would be written state legislation on bitcoin in NY was laughable. The hardest times are behind us and now the focus is the future.

[cellard]

It's important to make a distinction between bitcoin the currency and bitcoin the protocol.

There's no healthy bitcoin protocol vs healthy bitcoin currency. Widespread of the protocol: higher price. This will translate sooner or later into the price. The market is heavily manipulated.

[bitnanigans]

Bitcoin is starting to gain mainstream recognition, for sure, but it still needs to be easier to purchase to gain mass adoption.

[neurotypical]

The institutional investors are the next step for mainstream adoption.  I think general public will be last.

The New York Stock exchange and BBVA have invested in coinbase. They do realize the potential in bitcoin. Moreover, even Goldman Sachs has invested in Circle.

Santander is in too:

http://www.businessinsider.com/santander-has-20-25-use-cases-for-bitcoins-blockchain-technology-everyday-banking-2015-6

Too bad these morons are still not understanding bitcoin is not mutually exclusive from the blockchain. When will these idiots learn? "uhh the blockchain is cool, but we don't like bitcoin". Well yeah, have fun making your own blockchain airheads.

[1986]

The institutional investors are the next step for mainstream adoption.  I think general public will be last.

The New York Stock exchange and BBVA have invested in coinbase. They do realize the potential in bitcoin. Moreover, even Goldman Sachs has invested in Circle.

Santander is in too:

http://www.businessinsider.com/santander-has-20-25-use-cases-for-bitcoins-blockchain-technology-everyday-banking-2015-6

Too bad these morons are still not understanding bitcoin is not mutually exclusive from the blockchain. When will these idiots learn? "uhh the blockchain is cool, but we don't like bitcoin". Well yeah, have fun making your own blockchain airheads.

How so? They can and will likely just use the blockchain technology and not bitcoin. That's exactly what alt coins do already. Banks will just create their own computer networks and their own version of blockchains or coins. Remember, it could be completely different than the bitcoin blockchain as well but the technology they develop will certainly be based on it. I think you're looking at it as they can't use the bitcoin blockchain without using bitcoin but they will just create their own or there might be some sort of financial coin network created for banks to use.

[tyrexs]

for who know about bitcoin, yes bitcoin already succeeded but what the problom right now is many people still dont know about bitcoin or some people know but their worry if using bitcoin, their bitcoin can stolen by hacker
for me bitcoin not succeeded