I think the potential of BTC is over

[QIAOHEAN]

There are just too much good coins these days and are very innovative than BTC.
BTC however still may continue to be the number one because of its adoption, everybody knew about BTC and all these people probably never heard of Dash or ETH which is only familiar to people in the cryptoworld like us. I have been here in the forum for years and I don't hear anything about Santiment actually which ICONOMI had invested. Certainly BTC is on the losing side, they have to do something to save it or we lose satoshi.

I agree with your point of view.I agree with your point of view.

[LoyceV]

They want full blocks and a fee market because the block subsidies are diminishing.
We'll only be mining 112.5 new bitcoins a day in the year 2036, so obviously that's more
important than making sure the network runs smoothly today.
 
We don't want to attract as many users as possible so that by the time fees become
important, there will be massive transaction volume.  Instead, its surely better to just make fees expensive now
(doesn't matter if the competition has cheap fees).. because we need to establish
this fee market, you see... and get people used to high bitcoin fees.  
in the future we'll be able to get more users or just jack up the fees even more.

</sarcasm>

Mining hardware doesn't last long, it's hash rate gets outdated quickly, depending on energy cost. I don't know the exact numbers, but I guess it's less than 2 years. That means miners don't look ahead much further, their financial interests are only short-term.
I doubt Satoshi ever expected mining to become so centralized that miners can dictate block size.

[traincarswreck]

The prices have been constantly falling making it weak.

Liar.

[dinofelis]

Mining hardware doesn't last long, it's hash rate gets outdated quickly, depending on energy cost. I don't know the exact numbers, but I guess it's less than 2 years. That means miners don't look ahead much further, their financial interests are only short-term.
I doubt Satoshi ever expected mining to become so centralized that miners can dictate block size.

Indeed.  But actually, miners don't dictate block size.  They keep the block size that Satoshi dictated.

[jonald_fyookball]

They want full blocks and a fee market because the block subsidies are diminishing.
We'll only be mining 112.5 new bitcoins a day in the year 2036, so obviously that's more
important than making sure the network runs smoothly today.
 
We don't want to attract as many users as possible so that by the time fees become
important, there will be massive transaction volume.  Instead, its surely better to just make fees expensive now
(doesn't matter if the competition has cheap fees).. because we need to establish
this fee market, you see... and get people used to high bitcoin fees.  
in the future we'll be able to get more users or just jack up the fees even more.

</sarcasm>

Mining hardware doesn't last long, it's hash rate gets outdated quickly, depending on energy cost. I don't know the exact numbers, but I guess it's less than 2 years. That means miners don't look ahead much further, their financial interests are only short-term.

Ok.  And what does a high turnover of miners (if thats true) have to do with correct prioritization of long term security model vs short term operablility?
 

[traincarswreck]

 

They want full blocks and a fee market because the block subsidies are diminishing.
We'll only be mining 112.5 new bitcoins a day in the year 2036, so obviously that's more
important than making sure the network runs smoothly today.
 
We don't want to attract as many users as possible so that by the time fees become
important, there will be massive transaction volume.  Instead, its surely better to just make fees expensive now
(doesn't matter if the competition has cheap fees).. because we need to establish
this fee market, you see... and get people used to high bitcoin fees.  
in the future we'll be able to get more users or just jack up the fees even more.

</sarcasm>

There are just too much good coins these days and are very innovative than BTC.
BTC however still may continue to be the number one because of its adoption, everybody knew about BTC and all these people probably never heard of Dash or ETH which is only familiar to people in the cryptoworld like us. I have been here in the forum for years and I don't hear anything about Santiment actually which ICONOMI had invested. Certainly BTC is on the losing side, they have to do something to save it or we lose satoshi.

The above two quotes are the conclusion (including the sarcasm) that one comes to when one doesn't know anything about what gives money value, which is not at all a raised transaction capacity.

These are two posters that don't know anything about economics or money theory that are continually posting looney tune character style remarks, pretending to address people (core devs) who aren't here, and have no intention of addressing such baseless and ignorant conclusions.

Money doesn't work like this^

Dash and Eth can NEVER provide what bitcoin provides as a money, and that's why bitcoin's market cap far exceeds them combined, and always will. Eth and dash would break if they had bitcoin's cap, that's why the market hasn't put such much into these breakeable coins.

[wuvdoll]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

[White Christmas]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

That's true. They believe they can defeat but they don't have capacity to do that since tha foundation of bitcoin is huge and strong. I think it is a strategy of dumpers in order for them to buy more at cheaper price as they make people panic selling. And after that, they would announce great news as the reach their target and will continue placing their buy orders to pump bitcoin. Very nice strategy.

[Reid]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

This is not the first time.
They are getting higher in numbers to which wants bitcoin down. Scary.
Just for the support in their own altcoins they would do anything even if it is not true anymore.
Grab on to something bitcoin holders! There will be more to come.
They will not stop until they see the zero price of bitcoin or without value which I dont know if can be done. I doubt it.

[iamTom123]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

You are right. It has been already a known cycle in the Bitcoin community that when a problem can arise many of them are flying to many altcoins and after some days they slowly get back to Bitcoin again. So it is not surprising if a month from now the same thing can happen. Anyway, as in anything, this movement can present a good opportunity to buy some more Bitcoin...there is no need to panic as Bitcoin is already set for the future.

[traincarswreck]

Turns out BU's constitutional framework simply secures the President as a dictator over bitcoin: https://medium.com/@rextar4444/the-dictatorship-of-the-bitcoin-proletariat-a51e7cd87605

Highlights:

There is no democratic way to kick something like this off so I am just going to be autocratic about it. I’m defining myself judge, jury and executioner (with the valuable input of those who have been interacting with me of course!) with the power to appoint the initial members. These initial members will then proceed to invite new members.

Only members can submit proposals and such proposals must first go through the President

In the case of abrupt departure, an interim person may be appointed by the President, including someone currently holding another role. In that case s/he will not vacate the originally elected role.

I. Any unallocated funds raised shall be held in a 2-of-3 multi-signature account with the President, Secretary, and Developer holding the keys.

Funds donated to Bitcoin Unlimited may be applied to any purpose (including the Bitcoin Unlimited Pool) that furthers the project’s goals and is authorized by majority vote via line items in a President’s “Operational BUIP”

Donations may not be used to pay salaries, bonuses, etc. for the President, Secretary, Developer or Pool Operator. These volunteer roles are unpaid, with the expectation that these individuals will benefit from Bitcoin’s success.

However, the people fulfilling these roles may be paid upon completion of particular tasks that exceed their stated role.

The source repository administrative account shall be held by the President.

51% Risk
 To alleviate real or perceived risk of this pool gaining more than 50% of total network hash power, if the pool’s hash power exceeds an average of 30% for more than 30 consecutive days, it must disband into two completely separate entities with no personnel overlap.

Anyone that supports this is an enemy of decentralization.

[meemiinii]

Is it just me or does it seem like there's a shill team going around? New account spreading tons of FUD. Truth is, Bitcoin is working perfectly and 90% of my transactions get confirmed within 20 mins. It is working the same as it has been for the past 8 years.

i also observed that too. that a lots of newbies are trolling around the forum. and guess what, these newbies are not literally newbies. they are bunch of experts people (im basing on the way they post in the forum) somewhat paid to troll and spread FUDs hiding on a newbie account. what a shame!

[romero121]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

You are right. It has been already a known cycle in the Bitcoin community that when a problem can arise many of them are flying to many altcoins and after some days they slowly get back to Bitcoin again. So it is not surprising if a month from now the same thing can happen. Anyway, as in anything, this movement can present a good opportunity to buy some more Bitcoin...there is no need to panic as Bitcoin is already set for the future.

The user who focus only on the profit gets panic. Using it an right time the big investors buy more and more and benefit when the gradual price move takes place. Now there are people who have been profiting good with the ongoing price fluctuations.

[XbladeX]

****
Dash and Eth can NEVER provide what bitcoin provides as a money, and that's why bitcoin's market cap far exceeds them combined, and always will. Eth and dash would break if they had bitcoin's cap, that's why the market hasn't put such much into these breakeable coins.

2-3 years and you will reconsider your statement IMO if you lest ETH rise more by just sitting on ass.
This is not that far away BTC is just like 3x higher

[the rise]

They are just another hopeless try to change people’s mind about bitcoin, I have noticed recently that every time that the bitcoin faces a problem or the price falls down a bit, the forum starts exploding with posts about altcoins, and the best altcoin to invest in, people think that bitcoin is easily defeated and ignore the fact that it has a large community behind its back.

You are right. It has been already a known cycle in the Bitcoin community that when a problem can arise many of them are flying to many altcoins and after some days they slowly get back to Bitcoin again. So it is not surprising if a month from now the same thing can happen. Anyway, as in anything, this movement can present a good opportunity to buy some more Bitcoin...there is no need to panic as Bitcoin is already set for the future.

The user who focus only on the profit gets panic. Using it an right time the big investors buy more and more and benefit when the gradual price move takes place. Now there are people who have been profiting good with the ongoing price fluctuations.

I compare Bitcoin future is equal to USD fluctuations, will be shot from any direction remains stable as a benchmark for world currency exchanges. Bitcoin will never run out of potential. That's because of what? because high level of confidence from user.

I don't understand what will be another cryptocurrency do in future, it can take from system itself as making trading market and cooperate fully with coin supporters, it's not easy and takes a long time.

[traincarswreck]

I compare the future of Bitcoin is equal to fluctuations Usd, will be shot from any direction remains stable as a benchmark for world currency exchanges. Bitcoin will never run out of potential. That is because of what? because high level of confidence from user, I don't understand what will be another cryptocurrency do in future, it can take from system itself as making trading market and cooperate fully with coin supporters, it's not easy and takes a long time.

yes.  the irrationally exuberant cannot see this.  Other alt coins will do other things but there can only be one bitcoin and it will be guarded as such for all time or for a long time.

[1Referee]

Is it just me or does it seem like there's a shill team going around? New account spreading tons of FUD. Truth is, Bitcoin is working perfectly and 90% of my transactions get confirmed within 20 mins. It is working the same as it has been for the past 8 years.

i also observed that too. that a lots of newbies are trolling around the forum. and guess what, these newbies are not literally newbies. they are bunch of experts people (im basing on the way they post in the forum) somewhat paid to troll and spread FUDs hiding on a newbie account. what a shame!

It's all this forum that is offering people too much freedom to do basically anything that they want. It's annoying seeing that basically every thread in the Bitcoin discussion section gets taken over (demolished) by the well known group (newbie to legendaries) of shillers. As long as this forum doesn't take any actions (and this isn't likely to happen), these clowns will continue to fart all over this forum. So yes, it's indeed a shame.

[shield132]

Why is it over? There is a great team behind bitcoin core and etc things, even some years ago Bitfury invested millions in new datacenter, every mining company tries to develope their techs, their main goal is bitcoin, also there are many major bitcoin exchangers, altcoins are mostly in shadow. Well, bitcoin can't change regular money but it will be N1 in crypto currency, there is no doubt to my mind.

[rajasumi3]

I am still with bitcoins and dont believe that bitcoins potential is over .it is true that the blockchain size has been upto 1 mb , i think solutions will be done .well some people will say they will buy other virtual currency over bitcoins , but if u live in the other part of world still bitcoin transaction fees are less than online transactions.

[mining1]

The delusion of some people is at an alarming level. Bitcoin started as a technological marvel and it turned into a cult, where faith and emotion beats technology. Stating that X project can't beat bitcoin because no actual reason is just silly. Empires come and go, i thought history taught us something ?