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Peter Lambert (OP)
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June 11, 2013, 09:30:09 PM
Last edit: June 19, 2013, 03:31:01 PM by Peter Lambert |
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Okay, I was just thinking about bitcoins and how amazing they are. Then I realized that it is inevitable for the price of bitcoins to go up over time, because as each person decides they will accept bitcoins the overall network effect increases. As the population of the world is increasing, so too must the price of bitcoins. I look forward to the amazing world we will build together using this wonderful technology.
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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bitcoinbear
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June 11, 2013, 09:33:00 PM
Last edit: June 19, 2013, 03:29:28 PM by bitcoinbear |
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You must be crazy. There is no assurance that as people learn about bitcoin they will actually start using it. For many people bitcoins are just too hard to use. It seems like there are plenty of people who get all gung-ho for a little bit, but then they get bored and leave bitcoins behind. Bitcoins are inflating at over 10% a year right now, clearly the price is going to go down in the short term.
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ElectricMucus
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Marketing manager - GO MP
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June 11, 2013, 09:34:43 PM |
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Threads like these is why we call you guys a cult.
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jimbobway
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June 11, 2013, 09:36:08 PM |
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:-)
I have also seen the light when I bought gold. Gold is terrible compared to bitcoin. The gold I bought cost money to ship. It cost money to handle and package. It cost money to insure. It took time to deliver. Now, the gold is sitting in a safe just sitting pretty. If I wanted to sell it I would lose money selling it. I would have to package it, insure it, and ship it. The buyer would probably take a cut of the profits. If I took it to a gold shop it would continue to lose value.
That was when I saw the light. Bitcoin is awesome because gold has a lot of drawbacks.
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vokain
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June 11, 2013, 09:37:16 PM |
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^ but what is bitcoin backed by  |
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mgio
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June 11, 2013, 09:38:28 PM |
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^ but what is bitcoin backed by what is gold backed by? |
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MAbtc
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June 11, 2013, 09:46:08 PM |
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Threads like these is why we call you guys a cult.
On a roll today, this one. |
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chriswilmer
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June 11, 2013, 10:01:31 PM |
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Okay, I was just thinking about bitcoins and how amazing they are. Then I realized that it is inevitable for the price of bitcoins to go up over time, because as each person decides they will accept bitcoins the overall network effect increases. As the population of the world is increasing, so too must the price of bitcoins. I look forward to the amazing world we will build together using this wonderful technology.
+1 |
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Jutarul
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June 11, 2013, 10:03:44 PM |
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^ but what is bitcoin backed by the internet. |
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auto2nr1
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June 11, 2013, 10:04:59 PM |
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Okay, I was just thinking about bitcoins and how amazing they are. Then I realized that it is inevitable for the price of bitcoins to go up over time, because as each person decides they will accept bitcoins the overall network effect increases. As the population of the world is increasing, so too must the price of bitcoins. I look forward to the amazing world we will build together using this wonderful technology.
I have seen this too. I felt enlightened and saw the future and how Bitcoins or another digital currency.  |
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wachtwoord
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June 11, 2013, 10:08:10 PM |
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^ but what is bitcoin backed by Bitcoin |
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crumbs
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June 11, 2013, 10:09:04 PM |
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You believe that gold is backed by its intrinsic value? |
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wachtwoord
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June 11, 2013, 10:10:14 PM |
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Being rare and useful gives something value.
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crumbs
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June 11, 2013, 10:18:39 PM |
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Being rare and useful gives something value.
That's a given, though how much? And how much of that value is convention & faith? |
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wachtwoord
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June 11, 2013, 10:20:32 PM |
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Being rare and useful gives something value.
That's a given, though how much? And how much of that value is convention & faith? That depends on the usefulness and the rarity. That is however not the question here. The above clearly shows 'backing' is unnecessary. Bitcoin backs itself. |
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Rallye
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June 11, 2013, 10:20:49 PM |
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Being rare and useful gives something value.
bitcoins are rare and useful. |
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wachtwoord
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June 11, 2013, 10:21:54 PM |
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Being rare and useful gives something value.
bitcoins are rare and useful. My point exactly. |
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crumbs
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June 11, 2013, 10:25:19 PM |
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Being rare and useful gives something value.
That's a given, though how much? And how much of that value is convention & faith? That depends on the usefulness and the rarity. That is however not the question here. The above clearly shows 'backing' is unnecessary. Bitcoin backs itself. Are you saying Bitcoin's value is due to its rarity & usefulness? In that case, i'll release Bitcoin V2.0 -- identical to Bitcoin in every respect, but with just half the coins.  |
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wachtwoord
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June 11, 2013, 10:27:26 PM |
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Being rare and useful gives something value.
That's a given, though how much? And how much of that value is convention & faith? That depends on the usefulness and the rarity. That is however not the question here. The above clearly shows 'backing' is unnecessary. Bitcoin backs itself. Are you saying Bitcoin's value is due to its rarity & usefulness? In that case, i'll release Bitcoin V2.0 -- identical to Bitcoin in every respect, but with just half the coins. But less useful  Bitcoin has a moat due to networking effects. Just like creating FaceBook2 won't make me an instal Billionaire, creating Bitcoin2 (as a carbon copy) won't make you rich. |
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