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Author Topic: If bitcoins go to $100 or even $1000 in value each, Could there be a Safeguard?  (Read 4517 times)
DannyHamilton
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October 24, 2012, 01:57:24 AM
 #41

That's right, that myspace thing will start catching on by next year when it turns 10 years old!
So you are saying that MySpace (social networking websites) was a revolutionary idea, and that it has taken until recent years for the concept to really catch on in the form of Facebook and Google+?  So that particular concept only took 8 years or so?  Still, certainly more than 4 years, so that is yet another example of how revolutionary concepts take more than 4 years to catch on.

These are faster times; businesses can be destroyed by not shipping a good product for two quarters in a row.
Certainly, but businesses failing to make a profit has very little to do with revolutionary concepts catching on.  Using your example, MySpace may have introduced a revolutionary concept, but some other business figured out how to make and maintain a profit with it.

People can go from college dropout to internet millionaire in a year. "Party Rock Anthem" was the summer jam of 2011, now the band is broken up.
I don't think many people would consider college, or "Party Rock Anthem" to be revolutionary.

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johnyj
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October 24, 2012, 11:36:51 AM
 #42

That's one of the functions of bank, online BTC bank will have good potential due to this safety demand

Insurance could also help, you lost every coin and insurance company pay you 90% of your loss

I read about that you need only an account number in a swiss bank to get all your deposited funds, but no one has been robbed of this number yet, although it is much easier than robbing BTC

DoomDumas
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October 25, 2012, 12:10:25 AM
 #43

If people think bitcoins will be worth hundreds of dollars they are dreaming. Why would a virtual currency with only advantages are no inflation and fast transactions (which are offset by irreversible transactions, which is a negative most of the time unless you are dealing in illegal stuff) be worth hundreds of times more than the U.S dollars or other currencies? Be realistic it wont happen.

You told : "with only advantages are no inflation and fast transactions".. that's enought for me to really beleive 1000 Fiat / BTC

Just need mass adoption over the web (gambling, small ammount and large volume online retailer, a country-wide use in real-life... etc)   alot of possibilities out there for 1000/BTC

Even if I believe in 1000/BTC, I spent more than half what I'm mining.. just keep arround 20 to 30 %  in heavy encrypted wallets, multiple copy in safe and online !

If someone want to force me to give all my BTC, he will get only my usual wallet wich will never have a balance over 1000 fiat networth..  just in case my computer got hacked/stolen..

Was my 2 satoshi

MysteryMiner
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October 25, 2012, 01:31:22 AM
 #44

Quote
could there be modification to  the official bitcoin protocol to avid something called "Getting a gun pointed to your head for BTC"
Probably by then someone will code a remote control for machine gun turret in original Satoshi client.

There is no reasonable way to prevent physical robberies happening without also preventing or making extremely hard for someone to use his own bitcoins. Maybe sending slaves back to cotton farms will reduce incidences by 80% but not guaranteed.

And 1000$ per BTC is not that valuable even if you are early adopter. Make a paper wallet from them and put in safe with time lock. Some people have even more valuable things on them and they are not so paranoid about them.

1LEaxxAh1LKFUvDKYVhiMEVAHRM7K5o7cF
BurtW
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October 25, 2012, 04:26:37 AM
 #45

Most people have never even heard of bitcoin.
Yet

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
b!z
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October 25, 2012, 09:22:38 AM
 #46

Bitcoin is supposed to remain anonymous.

I think you should be safe if you don't tell anyone IRL how much BTC you have, unless you have enough BTC to hire bodyguards.
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