Why better tech can't kill Bitcoin

[jaysabi]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

You sem to be unaware that gold is mined as well. Also, it's not an apple-to-apples comparison, but anyway you slice it, it doesn't seem Bitcoin is more valuable than gold. An ounce of gold is worth far more a Bitcoin, and the aggregate value of gold is immensely more than the market cap of Bitcoin. So not sure how you're making that judgment.

[diodio5]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

[mirakal]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

Exactly, because bitcoin is decentralized that is why it attract the smart users as they can transact online anonymously. Not only that, due to the less fees in using online transaction that is why in stand out among other payment processors. This is just one platform but with different functionalities.

[hatshepsut93]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

Exactly, because bitcoin is decentralized that is why it attract the smart users as they can transact online anonymously. Not only that, due to the less fees in using online transaction that is why in stand out among other payment processors. This is just one platform but with different functionalities.

You are absolutely correct about the fees, but Bitcoin is not very anonymous. Right now the biggest innovations of Bitcoin are it's immutability and openness to everyone and everywhere. 

[Intristing]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

Exactly, because bitcoin is decentralized that is why it attract the smart users as they can transact online anonymously. Not only that, due to the less fees in using online transaction that is why in stand out among other payment processors. This is just one platform but with different functionalities.

You are absolutely correct about the fees, but Bitcoin is not very anonymous. Right now the biggest innovations of Bitcoin are it's immutability and openness to everyone and everywhere. 

If you want the anonymous, you can try the Monero or Boolberry. These are the very anonymous coins.

[asdalani]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

Exactly, because bitcoin is decentralized that is why it attract the smart users as they can transact online anonymously. Not only that, due to the less fees in using online transaction that is why in stand out among other payment processors. This is just one platform but with different functionalities.

You are absolutely correct about the fees, but Bitcoin is not very anonymous. Right now the biggest innovations of Bitcoin are it's immutability and openness to everyone and everywhere. 

If you want the anonymous, you can try the Monero or Boolberry. These are the very anonymous coins.

That is right. I also invested in some Monero and the Boolberry before. But I invested more in the XMR.

[jaysabi]

So bitcoins to you are a fad  
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

First, you have to understand how an exchange works.
An exchange doesn't pay you for your BTC, it simply matches the buyers with the sellers, just like eBay matches BTCeanie BTCabies buyers and sellers.

So yeah, BTC is only valuable to collectors. No different from Sports Cards, Beanies, or Litecoins, or Feathercoins, or BBQ coins, which all claim to be money.

Edit: Sorry, misread "It is the exact same value to everybody at that given time of the exchange." as "on an exchange."
What do you mean by "It is the exact same value to everybody at that given time of the exchange"?

If I sell you 1 BTC for a dollar, that would magically make all BTC worth $1? Or?

Not on an exchange. I should of said at that given time or the transaction in a "trade". My mistake in that wording.
But yes 1btc for a dollar - AT THAT GIVEN MOMENT! What else would dictate what it's value is? It is uniform for everybody across the board no matter what   That is the function of the market price.

Re. "not on an exchange" -- see my edit.
Re. "But yes 1btc for a dollar - AT THAT GIVEN MOMENT!" -- how is this any different from selling Sports Cards or BTCeanie BTCabies or the Brooklyn Bridge? The price is always the price, "AT THAT GIVEN MOMENT," between the parties involved in a given transaction.

Anything can be collectable but bitcoin also has utility (actually has better utility than gold).  It has proven to be a "hedge" against financial dilemmas. I personally don't plan on stocking up on beanie babies during the next financial crisis.

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

[Doamader]

So bitcoins to you are a fad  
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

First, you have to understand how an exchange works.
An exchange doesn't pay you for your BTC, it simply matches the buyers with the sellers, just like eBay matches BTCeanie BTCabies buyers and sellers.

So yeah, BTC is only valuable to collectors. No different from Sports Cards, Beanies, or Litecoins, or Feathercoins, or BBQ coins, which all claim to be money.

Edit: Sorry, misread "It is the exact same value to everybody at that given time of the exchange." as "on an exchange."
What do you mean by "It is the exact same value to everybody at that given time of the exchange"?

If I sell you 1 BTC for a dollar, that would magically make all BTC worth $1? Or?

Not on an exchange. I should of said at that given time or the transaction in a "trade". My mistake in that wording.
But yes 1btc for a dollar - AT THAT GIVEN MOMENT! What else would dictate what it's value is? It is uniform for everybody across the board no matter what   That is the function of the market price.

Re. "not on an exchange" -- see my edit.
Re. "But yes 1btc for a dollar - AT THAT GIVEN MOMENT!" -- how is this any different from selling Sports Cards or BTCeanie BTCabies or the Brooklyn Bridge? The price is always the price, "AT THAT GIVEN MOMENT," between the parties involved in a given transaction.

Anything can be collectable but bitcoin also has utility (actually has better utility than gold).  It has proven to be a "hedge" against financial dilemmas. I personally don't plan on stocking up on beanie babies during the next financial crisis.

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

Bitcoin has a lot money around it, the big miners are forcing and making some pression at bitcoin price, who makes bitcoin its the community, and all the wishes around bitcoin is to grow, soo no other crypto can really kill the king. Even eth with some potencial to moove up cant go without the community support, as i saw it has limitations and people know its a great coin on the pump and dump all days.

[Intristing]

So bitcoins to you are a fad  
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

First, you have to understand how an exchange works.
An exchange doesn't pay you for your BTC, it simply matches the buyers with the sellers, just like eBay matches BTCeanie BTCabies buyers and sellers.

So yeah, BTC is only valuable to collectors. No different from Sports Cards, Beanies, or Litecoins, or Feathercoins, or BBQ coins, which all claim to be money.

Edit: Sorry, misread "It is the exact same value to everybody at that given time of the exchange." as "on an exchange."
What do you mean by "It is the exact same value to everybody at that given time of the exchange"?

If I sell you 1 BTC for a dollar, that would magically make all BTC worth $1? Or?

Not on an exchange. I should of said at that given time or the transaction in a "trade". My mistake in that wording.
But yes 1btc for a dollar - AT THAT GIVEN MOMENT! What else would dictate what it's value is? It is uniform for everybody across the board no matter what   That is the function of the market price.

Re. "not on an exchange" -- see my edit.
Re. "But yes 1btc for a dollar - AT THAT GIVEN MOMENT!" -- how is this any different from selling Sports Cards or BTCeanie BTCabies or the Brooklyn Bridge? The price is always the price, "AT THAT GIVEN MOMENT," between the parties involved in a given transaction.

Anything can be collectable but bitcoin also has utility (actually has better utility than gold).  It has proven to be a "hedge" against financial dilemmas. I personally don't plan on stocking up on beanie babies during the next financial crisis.

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

Bitcoin has a lot money around it, the big miners are forcing and making some pression at bitcoin price, who makes bitcoin its the community, and all the wishes around bitcoin is to grow, soo no other crypto can really kill the king. Even eth with some potencial to moove up cant go without the community support, as i saw it has limitations and people know its a great coin on the pump and dump all days.

It depends on the further development of the bitcoin. If there is no good development and it cannot adapt, it will be replaced.

[jak3]

i think better tech have some chance to defeat bitcoin but people still not to wait mamy years till they see and new and smart way of payment model

[mirakal]

So bitcoins to you are a fad  
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

First, you have to understand how an exchange works.
An exchange doesn't pay you for your BTC, it simply matches the buyers with the sellers, just like eBay matches BTCeanie BTCabies buyers and sellers.

So yeah, BTC is only valuable to collectors. No different from Sports Cards, Beanies, or Litecoins, or Feathercoins, or BBQ coins, which all claim to be money.

Edit: Sorry, misread "It is the exact same value to everybody at that given time of the exchange." as "on an exchange."
What do you mean by "It is the exact same value to everybody at that given time of the exchange"?

If I sell you 1 BTC for a dollar, that would magically make all BTC worth $1? Or?

Not on an exchange. I should of said at that given time or the transaction in a "trade". My mistake in that wording.
But yes 1btc for a dollar - AT THAT GIVEN MOMENT! What else would dictate what it's value is? It is uniform for everybody across the board no matter what   That is the function of the market price.

Re. "not on an exchange" -- see my edit.
Re. "But yes 1btc for a dollar - AT THAT GIVEN MOMENT!" -- how is this any different from selling Sports Cards or BTCeanie BTCabies or the Brooklyn Bridge? The price is always the price, "AT THAT GIVEN MOMENT," between the parties involved in a given transaction.

Anything can be collectable but bitcoin also has utility (actually has better utility than gold).  It has proven to be a "hedge" against financial dilemmas. I personally don't plan on stocking up on beanie babies during the next financial crisis.

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

Bitcoin has a lot money around it, the big miners are forcing and making some pression at bitcoin price, who makes bitcoin its the community, and all the wishes around bitcoin is to grow, soo no other crypto can really kill the king. Even eth with some potencial to moove up cant go without the community support, as i saw it has limitations and people know its a great coin on the pump and dump all days.

It depends on the further development of the bitcoin. If there is no good development and it cannot adapt, it will be replaced.

Bitcoin is already a good currency and it can stand alone even without the help of any altcoins and other platform. The people are trusting it and we can see that base on the increasing number of bitcoin adopters. So I would say that it will not be replace since we are growing stronger.

[MFahad]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

BTCitcoin is free from ownership and not control by any authority and due to this reason it cannot be defeated. On the other hand Etherum is controlled by few multinationals and you can see its growth is not permanent. 

[pooya87]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

BTCitcoin is free from ownership and not control by any authority and due to this reason it cannot be defeated. On the other hand Etherum is controlled by few multinationals and you can see its growth is not permanent. 

that is only true about the near future of bitcoin. but for a longer time line in 20 years from now or even sooner, there may be a lot of other good technologies that can kill bitcoin and replace it. but also, bitcoin and change too. you can change the code to some extent to adapt with the new changes.

[d5000]

I agree that it won't be easy to "kill" Bitcoin. I don't expect it to die in the next 20-30 years. But between "dying" and "mass adoption" there is a large grey area. And if Bitcoin does not change it won't reach real mass adoption.

The big problem of Bitcoin is its high real transaction cost, because of the resources that are wasted in mining.

That is a problem we are actually still not noticing because miners are not charging the transaction fees that they will charge in 2025 or 2030 when there are much less mining rewards than now. But eventually, if Bitcoin's protocol does not change drastically, transaction fees will be higher than PayPal's.

The problem is that people are looking at the fees. So if a competitor can deliver the same service with much lesser fees (e.g. using Proof of Stake) then Bitcoin will lose ground. It's only a question of time until this competitor acquires the community and network to really compete with BTC.

[crairezx20]

So bitcoins to you are a fad 
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

BTCitcoin is free from ownership and not control by any authority and due to this reason it cannot be defeated. On the other hand Etherum is controlled by few multinationals and you can see its growth is not permanent. 

Correct its not control by any one thats why bitcoin is decentralized. but for ethereum its a scam coin for there is a news about this coin right now..
I dont trust the most ethereum right now Here some news http://cointimes.tech/2016/08/12/etcdao-stolen-coins-frozen-by-exchanges-was-sent-by-ethereum-foundation-developers/

[serjent05]

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

I agree bitcoin is risky to those who don't know how to dance with it.  Just a couple of research and you'll find.  that if you want a huge profit, there is always a huge risk attached with it.  Basically bitcoin give many opportunity to entrepreneur.  Investors and of course regular users or believer.  Saturation is very low, so if you just create a good strategy, you can be very rich with bitcoin.

[Intristing]

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

I agree bitcoin is risky to those who don't know how to dance with it.  Just a couple of research and you'll find.  that if you want a huge profit, there is always a huge risk attached with it.  Basically bitcoin give many opportunity to entrepreneur.  Investors and of course regular users or believer.  Saturation is very low, so if you just create a good strategy, you can be very rich with bitcoin.

That is right. It is still very risky to invest in the bitcoin now. But that is the risk worth taking. I bought some bitcoin in early 2013, the price has risen a lot since.

[Barbut]

There is a logic in OP statement, we do have some old inventions with limited supply and many of them have very good value on the market. I don't know will soft or hard fork do something about it, but for now limited supply is good for long term investments. It means a lot when we know that in future there will be no coins for everyone.
Everything is a risk, we get out from a house with a risk from getting hit from car or some meteorite to fall on our head. People who risk can gain some profit, others will wait for safe heaven.

[Intristing]

There is a logic in OP statement, we do have some old inventions with limited supply and many of them have very good value on the market. I don't know will soft or hard fork do something about it, but for now limited supply is good for long term investments. It means a lot when we know that in future there will be no coins for everyone.
Everything is a risk, we get out from a house with a risk from getting hit from car or some meteorite to fall on our head. People who risk can gain some profit, others will wait for safe heaven.

The limited supply is just one factor. The bitcoin has to adopt the new technologies and learn from the good points in other coins. Otherwise, people will use other coins such as Ethereum.

[mirakal]

There is a logic in OP statement, we do have some old inventions with limited supply and many of them have very good value on the market. I don't know will soft or hard fork do something about it, but for now limited supply is good for long term investments. It means a lot when we know that in future there will be no coins for everyone.
Everything is a risk, we get out from a house with a risk from getting hit from car or some meteorite to fall on our head. People who risk can gain some profit, others will wait for safe heaven.

The limited supply is just one factor. The bitcoin has to adopt the new technologies and learn from the good points in other coins. Otherwise, people will use other coins such as Ethereum.

There is no competition with bitcoin and ethereum as the price of ethereum is base on the price of bitcoin, look at the current market now and you will see they are both down a bit and that would prove that my statement is true.