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Author Topic: Speculations about Bitcoin's future or fall  (Read 1122 times)
codymanix
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June 06, 2011, 08:35:03 PM
 #1

Iam new to Bitcoin and read and thought lots about it. It is an incredible invention, maybe a good one, maybe a dangerous one, maybe is is dead tomorrow but maybe it is still alive in hundred years or more.

What about you? What do you think? Which of these theories do you think may come true?

1. Bitcoin will be declared illegal for its potentially dangerous nature. People are stopping using it and the network dies.
2. Like 1., but people continue using it illegally, since it is an anonymous and decentral network.
3. People stop using Bitcoin because they aren't interested in it anymore for whatever reason.
4. A security hole in the Bitcoin network is found. Hackers make attacks to the Bitcoin network from which it cannot recover (It cannot guarantee a consistent state anymore, all coins are lost this way)
5. Bitcoin is hacked like 4. but the system can (at least technically) recover. But people stop using Bitcoin because they lost all trust into the network and thus Bitcoin dies.
6. More and more users start using Bitcoin. The network isn't able to scale to this volume and will break down.
7. Bitcoin will in the long term replace real work currencies like USD and EURO.
8. Bitcoin will take its place in the world, and like today, beeing a place used by it-geeks, venturers, speculators and maybe even criminals.
9. If Bitcoin dies, there will be no successor, since people fear it could suffer similar problems.
10. If Bitcoin dies, there will be an even better successor which let the spirit live on.


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ctoon6
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June 06, 2011, 08:44:15 PM
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I don't think bitcoin will "die" anytime soon. but i also don't think it will be use for real as real currency like usd is used today. just think of all the red necks and such that don't use computers nor want to understand how it works.

codymanix
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June 07, 2011, 09:22:52 PM
 #3

Does rednecks do online banking? Do they have bank accounts?

Money lying on your bank account is as unreal as Bitcoins are. Bitcoins also could be printed paper money some day, they should print an hash code or serial number on the bank notes to make sure that there is no more paper money than Bitcoins, in that sense Bitcoins are more real than real money..

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