If Bitcoin fails..

[QuestionAuthority]

I learned fiat currency is suck & privacy is very important

But Bitcoin is less private than cash in your hand. If I pay someone in person with a stack of 100s that transaction isn't broadcast all over the world for anyone to analyze. If I go to localbitcoins and trade in person I'm trading with everyone on the planet. Governments should love it's money tracking potential. I'm surprised the U.S. government isn't sponsoring a Bitcoin float in the Thanksgiving day parade.

You sure that the govt (U.S.) have not done practically this?  The response in the U.S. has been vastly more friendly than a lot of us (including myself) had predicted, and the same goes for the mainstream media who are for all intents and purposes appendages of corp/gov by this time.  Since 2013-ish, firms who play ball are allowed to operate seemingly with no friction.  To top it off, we peons in the space get the same kind of favorable tax treatment afforded to rich people in the fairly low long term capital gains rates.  About the only time to govt does anything remotely negative about Bitcoin is when someone makes it practically impossible for them to do otherwise (Dumbshit Pirate Roberts, Shrem, etc.)

No, I'm not sure they haven't done this. That's why I earnestly read about advancements in anonymity coins like Darkcoin.

[BADecker]

The U.S. government didn't invent Bitcoin. They don't have the knowledge of how to hack or corrupt it. At least not in the coding. The thing that they excel at is using Bitcoin. Bitcoin provides a perfect means for some in government to covertly move funds all over the world with reasonable anonymity. They love Bitcoin. They wouldn't destroy it even if they could.

[QuestionAuthority]

The U.S. government didn't invent Bitcoin. They don't have the knowledge of how to hack or corrupt it. At least not in the coding. The thing that they excel at is using Bitcoin. Bitcoin provides a perfect means for some in government to covertly move funds all over the world with reasonable anonymity. They love Bitcoin. They wouldn't destroy it even if they could.

I agree that there is a reasonable level of anonymity against individuals but not against governments.

[BADecker]

The U.S. government didn't invent Bitcoin. They don't have the knowledge of how to hack or corrupt it. At least not in the coding. The thing that they excel at is using Bitcoin. Bitcoin provides a perfect means for some in government to covertly move funds all over the world with reasonable anonymity. They love Bitcoin. They wouldn't destroy it even if they could.

I agree that there is a reasonable level of anonymity against individuals but not against governments.

Governments are made up of people, often who are notoriously ungoverned. Government people can use the anonymity offered by Bitcoin even better than the individual can.

[pawel7777]

...
and after it has failed we will enter a stage where you can make money all year long - not only in 2 weeks every 4 years.

I for one welcome the fail with open arms.

And a lot of good memes will come from it too.

Yeah, let's make it happen. We'll all be making money on mining alts! No one will have to work ever no more! Just fun and games all year-round.

Sounds entirely feasible

[jbreher]

To top it off, we peons in the space get the same kind of favorable tax treatment afforded to rich people in the fairly low long term capital gains rates. 

Puzzled. Capital gains are capital gains. How else would you expect it to be treated?

[tvbcof]

To top it off, we peons in the space get the same kind of favorable tax treatment afforded to rich people in the fairly low long term capital gains rates. 

Puzzled. Capital gains are capital gains. How else would you expect it to be treated?

Back when I worked for a living, I paid about 30% or something to the feds (and whatever to the state.)  Now I pay %15 to the feds.  (IIRC...I've a CPA do this shit so I don't have to fill my brain with such things.)  Now I know what it feels like to be a trust-fund brat.

Notwithstanding the fact that it was not perfectly clear how Bitcoin profits would be taxed (here in the U.S.) until the code came out, my point is that people who make money by having money get a break compared to those who show up for work.  Apparently GW Bush had things rigged up pretty nicely where long term capital gains rate was a whopping 0% but that fuckin' Obama nixed it the very same year it would have done me some good.  Oh well...I'll survive I think.

[Eastwind]

Bitcoin is an experiment of worldwide community. Maybe the first one.

[mriulian]

bitcoin had already his moment of glory..we're waiting for the next world wide miracle

[panju1]

Bitcoin is an experiment of worldwide community. Maybe the first one.

I sure hope this experiment succeeds, at least on a small scale.

[CoinRocka]

Accountability over all else.

[philiveyjr]

That money does not need to grow on trees in the future 

Lol!! Nice answer!! cracked me up good!

[50ouncebrew]

lesson learned to never get in to these shit again.

[GreatWinter]

Largely, that you probably can't trust most people when it comes to money/cryptos. There are some honest people, but most of the time if it looks too good to be true, it probably isn't. There isn't anything that is guranteed to give you a 1000% ROI in 4 weeks, it just doesn't happen, yet people believe these things when it comes to cryptos.

[waaat?]

Bitcoin is an experiment of worldwide community. Maybe the first one.

coming to a close with the hardfork

[R2D221]

Bitcoin is an experiment of worldwide community. Maybe the first one.

coming to a close with the hardfork

Which one? The one from August 2010? Or the one from March 2013?

[fryarminer]

Even if it fails (which I don't think it will), I'll still be able to walk away with some very basic knowledge economics, trading and cryptography.

What have you learned from Bitcoin?

I don't learn much. But in conversation the other day I ws able to say:

"No, it's not a Mac, its a Hackintosh. And I built it from parts purchased with bitcoin."
"How did you get the bitcoin?"
"I mined the bitcoin."

If that was the only thing I've gotten out of Bitcoin, I can say that that is fulfilling enough for me.

[ahmi]

I don,t think so Bitcoin will fail....

[kpitti]

I do not think that Bitcoin fail. But I know that I learned new interesting things like new ASCI HW, some of the Linux and some trading skills.
I have a different view of encryption and security now.
All thank`s Bitcoin and people around 

[sethminer14]

I've definitely learned a lot about economics and also a few trading tricks that I might use when on the stock exchange.