Bitcoin will fail

[wopwop]

. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity

99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Wow.

That's some amazing anecdotal evidence on the statistics you have there, thank you very much for enlightening me.  /s

If you honestly think greed is the only reason BTC is what it is today, you need to pay attention and read more.  A lot more.

Also, greed is hardly the only reason why I am here - it's a little something I like to call "not being a fucking idiot".

I believe in the underlying technology and it's potential for the future.  That is true.  If that is true, then it is logically implied that I want to have a part of it now.  This is for a plethora of reasons that, which you were unfortunately unable to divine.  

• I anticipate further adoption
• I have and will continue to use it, and encourage retailers to accept it
• I'm working with others on projects that utilize BTC
• Through using it, trading it, owning it I'm increasing my knowledge base about a very disruptive technology

I don't doubt that there's plenty of people here for greed, but for you to assume

99,99% of ppl here are here only for greed

says more about your own reasons than it does any other individual's - much less an entire community.

Lol 3 of your 4 reasons start with 'I' and the fourth one's about yourself too. Now I just have an even more increased feeling you're just here for yourself.




offnote:
'disruptive technology' lol. This is an upcoming hype word thats going mainstream!

[1715642333]

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[1715642333]

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[ThatDGuy]

. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity

99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Wow.

That's some amazing anecdotal evidence on the statistics you have there, thank you very much for enlightening me.  /s

If you honestly think greed is the only reason BTC is what it is today, you need to pay attention and read more.  A lot more.

Also, greed is hardly the only reason why I am here - it's a little something I like to call "not being a fucking idiot".

I believe in the underlying technology and it's potential for the future.  That is true.  If that is true, then it is logically implied that I want to have a part of it now.  This is for a plethora of reasons that, which you were unfortunately unable to divine.  

• I anticipate further adoption
• I have and will continue to use it, and encourage retailers to accept it
• I'm working with others on projects that utilize BTC
• Through using it, trading it, owning it I'm increasing my knowledge base about a very disruptive technology

I don't doubt that there's plenty of people here for greed, but for you to assume

99,99% of ppl here are here only for greed

says more about your own reasons than it does any other individual's - much less an entire community.

Lol 3 of your 4 reasons start with 'I' and the fourth one's about yourself too. Now I just have an even more increased feeling you're just here for yourself.




offnote:
'disruptive technology' lol. This is an upcoming hype word thats going mainstream!

I was giving you other reasons as to why -I- am here, in an (apparently vain) attempt to correct your flawed judgement based on minimal-to-little evidence.

The term Disruptive Technology has been around since the 90's.

[BTConomist]

Go ahead and send me all your worthless coins and I will see to it that they are disposed of.  

Let's just hope you'll be faster than the next guy to catch OP's bitcoins on the downslopes.

P.S. Apparently, I'm not the only one working on the vaccine against the GOLD 2.0 bug. 

[weisoq]

99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Indeed. Bitcoin will eventually be usurped by another blockchain, and that by another etc until there is a collective effort to formulate a less-pyramid like system. Either that or the crypto of the day will simply serve as a means for facilitating transactions of other currencies and assets that do not suffer the inverse pass-the-parcel method. This was completely inevitable from the start.

[nameface]

But I thought Bitcoin was money for the Internet? Why do you wanna buy farms IRL? Do you mean Farmville? I'm completely lost.

Bitcoin is here to replace fiat.

Meh.

All I can say is: I hope it does, but I don't see it happening.

[ThatDGuy]

99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Indeed. Bitcoin will eventually be usurped by another blockchain, and that by another etc until there is a collective effort to formulate a less-pyramid like system. Either that or the crypto of the day will simply serve as a means for facilitating transactions of other currencies and assets that do not suffer the inverse pass-the-parcel method. This was completely inevitable from the start.

I would argue that wopwop is closer to correct about the greed statement when it comes to the alternate cryptocurrencies forum here.

[weisoq]

I would argue that wopwop is closer to correct about the greed statement when it comes to the alternate cryptocurrencies forum here.

Quite possibly, but it mostly amounts to the same thing. A fantastic concept that because it also offers lead-in gains means it will be replicated. No rational observer group would adopt bitcoin, they'd found their own and start at the top of the tree. This is what's happening, and it will keep happening beyond bitcointalk.

[BTConomist]

Hint: miners have no control over the rate of generation, the exchange rate or the velocity of the bitcoin economy (which is comparably high).

Looks like your beehive should be the next one on my list to visit... So, tell me, just how succulent are your honecombs and what flowers are used to enhance your fake honey with such exquisite flavor? BTW, do you still remember the bid walls of 2011 crash? Didn't they look something like this?

[Elwar]

Thank you for adding the 420 in your name. It took me a while to realize that FinShaggy's ramblings were just that of a stoner with wild dreams not grounded in reality.

Bitcoin will fail because you want someone to fund your dream of growing organic tofu and nobody is going to give you BTC for $4/BTC. Damn greedy miners.

You do not need $500,000 for a farm to feed 100 people. Start small with a garden in your back yard and create a CSA subscription at http://www.localharvest.org and only take bitcoins for member payments. Upon success, buy a larger lot and continue to grow.

Or sit in your basement getting stoned.

I fully support people's choice to smoke pot, but I do not have to support the insanity that comes with it.

[Elwar]

If there is no real underlying value to bitcoin, eventually it will drop much closer to the actual cost of producing a bitcoin, whatever that may be

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.

https://blockchain.info/stats

[BTConomist]

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.

Sure, but only if you're still using legacy mining rigs... What are the speculators for if not to help you keep your mining equipment current?

[Elwar]

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.

Sure, but only if you're still using legacy mining rigs... What are the speculators for if not to help you keep your mining equipment current?

Well, when it comes down to it...if you are choosing between buying BTC now or paying for a rig that will cost you $90/BTC you have to remember that by the time you get your mining hardware the difficulty will be a lot higher and the cost could be over $130/BTC.

I personally will not order an ASIC because by the time I get it the return on my investment may be lower than if I just buy BTC now.

[CtrlAltBernanke420]

Thank you for adding the 420 in your name. It took me a while to realize that FinShaggy's ramblings were just that of a stoner with wild dreams not grounded in reality.

Bitcoin will fail because you want someone to fund your dream of growing organic tofu and nobody is going to give you BTC for $4/BTC. Damn greedy miners.

You do not need $500,000 for a farm to feed 100 people. Start small with a garden in your back yard and create a CSA subscription at http://www.localharvest.org and only take bitcoins for member payments. Upon success, buy a larger lot and continue to grow.

Or sit in your basement getting stoned.

I fully support people's choice to smoke pot, but I do not have to support the insanity that comes with it.

 I am not FINSHAGGY!

[alyssa85]

Good thing you made this important discovery that we all missed. Crap, well... Go ahead and send me all your worthless coins and I will see to it that they are disposed of. 

I am not a miner. The speculators(me) have a potential role to create an inflated value by buying bitcoins at an exchange as I think they might be worth something one day. But based on what I see already, they will not be once people realize there is no where to spend them.

If all you care about is the gold 2.0, understand the dollar wins! Similar to money, it is a tool, not a store of value.

You intend to buy btc at an exchange, but want others to hand you Thiers to cash out for your farm?

I guess you missed out the half a dozen routes you could have taken to not require bit coin investors.

Tip:
Find a cheap farm shop buy veg, sell veg...
Firstly compared to just speculatively buying coin direct from fiat, at let's say a high of $138. Buying just $90 of veg at wholesale price can be sold for profit to net you a whole bit coin.
Sell that bit coin for fiat. Get a return of over $130, after fee's. Rinse repeat, while you wait till next year to buy land, as its a bit late to buy land churn the soil, sow the seed to get a harvest complete by this summer.

So do some wholesale-retail  until winter so that your ready for buying land, to start growing next year, then next year you will have the service running, but becoming more self reliant on stock as oppose to buying in... which means less cashing out

He isn't behaving that differently from you, you know. He's looking for bitcoin investors to help start-up his farm. You and others are looking to Silicon-Valley+Wall Street to come up with solutions that enable Bitcoins to be spent.

Why the hostility to finding start-up capital from within the community in coins?

You seem to be imagining that it will make existing bitcoiners poor. But eventually all wealth flows towards those who supply venture/start-up capital. They don't view it as "handing over money", but instead as a stake in a profitable venture. They end up owning the world, leaving the hoarders for dust.

Personally I like the idea of a farm where you can buy food direct for cryptocoins, by-passing the supermarkets. But it's not a "sexy" venture that will attract fiat venture capital - so it either raises funding from within the community or doesn't happen at all. OP's other alternative is raising money from the traditional banks - can you imagine how that conversation will go? Not to mention him having to constantly cash out the BTC he earns to pay fiat interest, fees, etc, instead of keeping the BTC within the BTC economy. Fiat wins...

[BTConomist]

You can't change Bitcoin in that manner you can only fork it.

And what does one need to fork a bitcoin block chain? 

[BTConomist]

What I have seen in the past two years is an endless stream haters and attackers. Despite their efforts bitcoin is stronger now than ever, and still growing stronger.
  

The only thing that's growing stronger are the bid walls... Look at this one... She's a beauty, ain't she?

[BTConomist]

The speculation is a relatively recent phenomena in bitcoin.
   

As far as I can remember, the speculation was rampant in 2011 and 2012 as well... There was a time when I even had to pull out my wizard hat in order to chase off the fake honey bees.

[Elwar]

OP's other alternative is raising money from the traditional banks - can you imagine how that conversation will go?

CtrlAltBernanke420: Hi, I need half a million dollars to start an organic farm so I can sell food to people.
Bank: Ok, what is your business plan? What will you use as collateral? What is your farming experience? How many other successful businesses do you have? Would you be willing to put down 20% ($100,000) toward the loan? Let me check your credit score and credit history. What is your current salary? Can you show proof of past history that would justify the returns you expect to be able to pay back $500,000?

or...

CtrlAltBernanke420: Hi, I need 3850 bitcoins to start an organic farm so I can sell food to people in exchange for bitcoins!
Bitcoin investor: Ok, what is your business plan? What will you use as collateral? What is your farming experience? How many other successful businesses do you have? Would you be willing to put down 20% (770BTC) toward the loan? Let me check your credit score and credit history. What is your current salary? Can you show proof of past history that would justify the returns you expect to be able to pay back 3850 bitcoins?
CtrlAltBernanke420: I will pay you $6/BTC for 3850 bitcoins.

[CtrlAltBernanke420]

Good thing you made this important discovery that we all missed. Crap, well... Go ahead and send me all your worthless coins and I will see to it that they are disposed of. 

I am not a miner. The speculators(me) have a potential role to create an inflated value by buying bitcoins at an exchange as I think they might be worth something one day. But based on what I see already, they will not be once people realize there is no where to spend them.

If all you care about is the gold 2.0, understand the dollar wins! Similar to money, it is a tool, not a store of value.

You intend to buy btc at an exchange, but want others to hand you Thiers to cash out for your farm?

I guess you missed out the half a dozen routes you could have taken to not require bit coin investors.

Tip:
Find a cheap farm shop buy veg, sell veg...
Firstly compared to just speculatively buying coin direct from fiat, at let's say a high of $138. Buying just $90 of veg at wholesale price can be sold for profit to net you a whole bit coin.
Sell that bit coin for fiat. Get a return of over $130, after fee's. Rinse repeat, while you wait till next year to buy land, as its a bit late to buy land churn the soil, sow the seed to get a harvest complete by this summer.

So do some wholesale-retail  until winter so that your ready for buying land, to start growing next year, then next year you will have the service running, but becoming more self reliant on stock as oppose to buying in... which means less cashing out

He isn't behaving that differently from you, you know. He's looking for bitcoin investors to help start-up his farm. You and others are looking to Silicon-Valley+Wall Street to come up with solutions that enable Bitcoins to be spent.

Why the hostility to finding start-up capital from within the community in coins?

You seem to be imagining that it will make existing bitcoiners poor. But eventually all wealth flows towards those who supply venture/start-up capital. They don't view it as "handing over money", but instead as a stake in a profitable venture. They end up owning the world, leaving the hoarders for dust.

Personally I like the idea of a farm where you can buy food direct for cryptocoins, by-passing the supermarkets. But it's not a "sexy" venture that will attract fiat venture capital - so it either raises funding from within the community or doesn't happen at all. OP's other alternative is raising money from the traditional banks - can you imagine how that conversation will go? Not to mention him having to constantly cash out the BTC he earns to pay fiat interest, fees, etc, instead of keeping the BTC within the BTC economy. Fiat wins...

Thank you!

I have a ton of other idea that will actually get a bitcoin economy flowing quickly. No one else is focused on the hard work required building an economy. <-- most of you think I am asking for free handout. You would be more naive than any. She "gets it"

The VC who help carve out the path, win 10-fold, that has been my orginal thesis, otherwise bitcoin never really goes much higher. Even it makes it to $1000/btc, Its still chump change to the economy. Again, with out a single satoshi having a value near that of a dollar, but how is that obtained.

I am beginning to realize I am on point! You 'hoarders' are digging your own wealth grave.

If anyone understand what has happened to farmers over the past 50 years, they were told, or they needed to update their machinery, the only option was to go the "miners" or "banks" to get cash distributed, to grow an economy.. Unfortunately, debt basically means they will eventually be filing for bankruptcy, and lose their farm, only for the mega giants to swoop in a take it for pennies on the dollar. Keep hoarding, speculation is only soo strong of a force until it destroys you.

Bitcoin is debt free!

If you keep focusing on the tippy top point of the future, money, greed, technology, if things do not go as planned, american specifically are screwed.

During the collapse of the soviet union, things were not as bad as they could have been, and or will be in america, because most russians farmed..

And you think I am trying to scam you guys out of a few coins you minted with electricity from your wall. Ya, really hard work. So far most of your logic is lining to be that of a wall street day trader who provides nothing to society, before you know it, all your going to hear a loud sucking sound, known in the industry as a vaccum.

[jubalix]

I *agree* please send me your bitcoins, with give you $1 each.

also money velocity, you have not idea

once out that's just transaction rate between everyone, miners are irelevant, 1 bit coin can be split into 10^8 parts thus enough bitcoins out already to run many times the world economy