Bitcoin will remain dormant until people start questioning what money is.

[spazzdla]

For the past 30 ish years the median wage has barely moved..

Up from around $28k to $33k...  Now it is VERY important to look at median and not average.  Why one might ask?  Well The top 1% have been getting massive, MASSIVE increases in pay this launches the average wage to the moon and makes it look like it is going up.. well for those that are not in the top 1% it is not.

Now if we look at housing, food, etc these things have risen 200-1000% ...

There is zero sign of this trend ending.. 

"You can fool some people every time,  You can fool most people most of the time, you cannot fool everyone all the time"  IMO we are reaching the point where it is becoming impossible to continue on with this sham.  In the next 20 years rent and food alone will hit a point where it costs above the median wage to have both..

Until people start asking "how can't I afford to eat, how is this possible" bitcoin will remain stagnate.  Alas we will live through "interesting" times.

[celebreze32]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

[Kupsi]

This isn't Bitcoin stagnating 

[zimmah]

For the past 30 ish years the median wage has barely moved..

Up from around $28k to $33k...  Now it is VERY important to look at median and not average.  Why one might ask?  Well The top 1% have been getting massive, MASSIVE increases in pay this launches the average wage to the moon and makes it look like it is going up.. well for those that are not in the top 1% it is not.

Now if we look at housing, food, etc these things have risen 200-1000% ...

There is zero sign of this trend ending..  

"You can fool some people every time,  You can fool most people most of the time, you cannot fool everyone all the time"  IMO we are reaching the point where it is becoming impossible to continue on with this sham.  In the next 20 years rent and food alone will hit a point where it costs above the median wage to have both..

Until people start asking "how can't I afford to eat, how is this possible" bitcoin will remain stagnate.  Alas we will live through "interesting" times.

we have already reached the point at where it is common for both partners to have a fulltime job and still barely get by. (as in, they live somewhat comfortably but they have no or very few savings).

while a few decades ago it was common for only the man to work, and the woman was often not working at all, or at best have a parttime job.

now i'm not saying double income families are a bad thing, but I am saying that being FORCED to have 2 incomes just to get by is a VERY bad thing.

especially because it's getting worse and worse.

before long we will need 4 fulltime jobs per family just to get by, which means that single mothers will need 4 jobs and married couples will need 2 fulltime jobs each.

[The Sceptical Chymist]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

I'm thinking much the same.  Bitcoin is small compared to the U.S. dollar and other currencies,  but it's damn far from dormant.   We have a vibrant and dedicated community,  which is growing,  albeit slowly.   It's not dormant.

[~Bitcoin~]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

Yes bitcoin is actually growing in faster way as well as interest of trader and normal people is so high on bitcoin these days. However if more people adapt bitcoin as store of their wealth than there is lots of room still available to grow in price.

[Ibian]

For the past 30 ish years the median wage has barely moved..

Up from around $28k to $33k...  Now it is VERY important to look at median and not average.  Why one might ask?  Well The top 1% have been getting massive, MASSIVE increases in pay this launches the average wage to the moon and makes it look like it is going up.. well for those that are not in the top 1% it is not.

Now if we look at housing, food, etc these things have risen 200-1000% ...

There is zero sign of this trend ending..  

"You can fool some people every time,  You can fool most people most of the time, you cannot fool everyone all the time"  IMO we are reaching the point where it is becoming impossible to continue on with this sham.  In the next 20 years rent and food alone will hit a point where it costs above the median wage to have both..

Until people start asking "how can't I afford to eat, how is this possible" bitcoin will remain stagnate.  Alas we will live through "interesting" times.

we have already reached the point at where it is common for both partners to have a fulltime job and still barely get by. (as in, they live somewhat comfortably but they have no or very few savings).

while a few decades ago it was common for only the man to work, and the woman was often not working at all, or at best have a parttime job.

now i'm not saying double income families are a bad thing, but I am saying that being FORCED to have 2 incomes just to get by is a VERY bad thing.

especially because it's getting worse and worse.

before long we will need 4 fulltime jobs per family just to get by, which means that single mothers will need 4 jobs and married couples will need 2 fulltime jobs each.

The reason we need two incomes today is that women are working.

It's just supply and demand. As the workforce doubled, job income halved, and so we need twice as much work for the same income.

That aside, there is also inflation to consider. If we go back 50-100 years the purchase power per work hour was 4-16 times as high. Fiat is the big enemy, even more so than women in the work force.

[pooya87]

this has nothing to do with bitcoin and the price and whether or not it is stagnate!
bitcoin is growing and rising regardless of all this, and the temporary dips are just temporary you have to look at the bigger picture like the chart Kupsi posted above or the volume that has been growing over all in all the exchanges and the bitcoin addresses that has been getting filled over the past two years.

[1Referee]

Why would the average joe start questioning what money is? They use it, and that's it. 90% of the people don't think even think a second about what it is and what the effect might be on the very long term. And another thing, if you tell people to use Bitcoin instead of fiat, then they come up with the simple answer of; Why should I purchase something (Bitcoin) first, in order to spend it, while I can directly buy things with fiat?

[Ibian]

Why would the average joe start questioning what money is? They use it, and that's it. 90% of the people don't think even think a second about what it is and what the effect might be on the very long term. And another thing, if you tell people to use Bitcoin instead of fiat, then they come up with the simple answer of; Why should I purchase something (Bitcoin) first, in order to spend it, while I can directly buy things with fiat?

Because they will lose all their fucking money when hyperinflation hits. And bitcoin users will be unaffected.

[1Referee]

Why would the average joe start questioning what money is? They use it, and that's it. 90% of the people don't think even think a second about what it is and what the effect might be on the very long term. And another thing, if you tell people to use Bitcoin instead of fiat, then they come up with the simple answer of; Why should I purchase something (Bitcoin) first, in order to spend it, while I can directly buy things with fiat?

Because they will lose all their fucking money when hyperinflation hits. And bitcoin users will be unaffected.

You know that, I know that, but the average joe doesn't know or care about it. It's like sheeps going to the butcher. The moment these people start to notice that, it will be too late to act.

[ImHash]

It doesn't have anything to do with bitcoin, only as long as powerful people those who have access to advance technology to natural resources to the nations money and gold those who have or better say occupied this earth and took hostage the 90% of the population with arm forces are in position of power and in control of our lives, nothing will change.

And funny thing is they are holding on tight and still looking to see if the weak ones have any so they can some how take them as well.
I doubt if bitcoin could do much heavy impact on our lives unless people start to believe it in their bones.

[reb0rn21]

People see it even now but they don`t have answer to the problem, I think governments also don`t have answer
Its not easy to give money from rich to poor, because even today you have bunch of apes all around world on social care for no reason at all!

Its defo more of a system problem then a financial, we had social communism here and in the long run it proven not viable

[spazzdla]

Why would the average joe start questioning what money is? They use it, and that's it. 90% of the people don't think even think a second about what it is and what the effect might be on the very long term. And another thing, if you tell people to use Bitcoin instead of fiat, then they come up with the simple answer of; Why should I purchase something (Bitcoin) first, in order to spend it, while I can directly buy things with fiat?

Because they will lose all their fucking money when hyperinflation hits. And bitcoin users will be unaffected.

This.  Their stomach will start asking.

[Hyena]

We should drop the USD from the main trading pair for BTC and replace it with Lambo. This would surely attract many new investors. Right now 1 BTC = 0.003 Lambos. So BTC all of sudden does not sound too expensive.


(pic somewhat related, bitcoin is not in a bubble but the lambo is in a crash instead)

Yesterday I talked a couple of magic-the-gathering fans into buying bitcoin at the gym's sauna. I overheard them talking about some card game so I hijacked their conversation by referring to mtgox (magic the gathering online exchange) and how it became a bitcoin exchange.

[Ayers]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

but what it concerning me is that at the first hacking the price is dumped by 16%, that is too much, bitcoin will never be adopted on large scale if this keep happening i think, there will be no true confidence

[MingLee]

Why would the average joe start questioning what money is? They use it, and that's it. 90% of the people don't think even think a second about what it is and what the effect might be on the very long term. And another thing, if you tell people to use Bitcoin instead of fiat, then they come up with the simple answer of; Why should I purchase something (Bitcoin) first, in order to spend it, while I can directly buy things with fiat?

Because they will lose all their fucking money when hyperinflation hits. And bitcoin users will be unaffected.

This.  Their stomach will start asking.

An interesting analogy I've heard is that "people vote with their stomach and their dick", and while there are some instances where it isn't applicable, I personally have seen this be pretty accurate for a fair amount of things.

As for inflation, it's going to be incredibly fascinating to see what happens once everyone starts losing the value of their work from the past at an alarming rate. However, as long as people are being fed, there is a smaller and smaller chance for any sort of "revolution"; economically, socially or violently.

[randy8777]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

but what it concerning me is that at the first hacking the price is dumped by 16%, that is too much, bitcoin will never be adopted on large scale if this keep happening i think, there will be no true confidence

bitcoin hasn't been any different. from the very beginning massive hacks and scams have been happening. it's not the first time, and definitely not the last time. i think what large investors is worrying, is that satoshi supposedly owns around one million coins. added, mark karpeles is also something for them to consider when putting their millions into bitcoin. regarding the adoption by the average joes, they prefer to use banks instead of bitcoin. an important reason for them is that bitcoin doesn't have a central authority. media saying that bitcoin is the underworld currency, etc. all that combined makes them worry.

[Junko]

Yesterday I talked a couple of magic-the-gathering fans into buying bitcoin at the gym's sauna. I overheard them talking about some card game so I hijacked their conversation by referring to mtgox (magic the gathering online exchange) and how it became a bitcoin exchange.

LOL. Nice Bitcoin Jedi mind trick there!

"You will buy Bitcoin. You will spend Bitcoin."
"I will buy Bitcoin. I will spend Bitcoin."

[Westfiled]

Bitcoin's not stagnating, it's up 50% from January, and it was up 100% from January a few months ago. This forum is buzzing with activity, so how can Bitcoin be stagnating? Mass adoption can't happen overnight, it's happening, but in small steps.

but what it concerning me is that at the first hacking the price is dumped by 16%, that is too much, bitcoin will never be adopted on large scale if this keep happening i think, there will be no true confidence

bitcoin hasn't been any different. from the very beginning massive hacks and scams have been happening. it's not the first time, and definitely not the last time. i think what large investors is worrying, is that satoshi supposedly owns around one million coins. added, mark karpeles is also something for them to consider when putting their millions into bitcoin. regarding the adoption by the average joes, they prefer to use banks instead of bitcoin. an important reason for them is that bitcoin doesn't have a central authority. media saying that bitcoin is the underworld currency, etc. all that combined makes them worry.

It is quite difficult to say. The bitcoin price dropped a lot recently because of the Bitfinex exchange hack.