Bitcoin is Dead

[jnagyjr]

decentralization is not the utilitarian value of Bitcoin, it's a side-effect of its utility, though. No, the utilitarian value of Bitcoin is in everyone having enough to support a market for goods and services (we'll ignore legality of any particular good or service for the moment, but that is important as well). Their value is in if there are people willing to take them for goods and services. If neither condition exists, it doesn't matter if they are decentralized or not, they completely lose their utility and hence, their value.

[1715071970]

1715071970

[1715071970]

1715071970

[1715071970]

1715071970

[thermos]

decentralization is not the utilitarian value of Bitcoin, it's a side-effect of its utility, though. No, the utilitarian value of Bitcoin is in everyone having enough to support a market for goods and services (we'll ignore legality of any particular good or service for the moment, but that is important as well). Their value is in if there are people willing to take them for goods and services. If neither condition exists, it doesn't matter if they are decentralized or not, they completely lose their utility and hence, their value.

even though i live on this side of the pond i implement my own business based on common sense i.e. common law, i think the idea of developing bitcoin based on common law fundamentals is what's up NYC;)

http://www.youtube.com/watch?v=3-oySaDJHoI

^^^^^^^^^^^^^^^^^^Edan Yago discusses The World's First Cryptocurrency-based Political Zone
@ Bitcoin 2013 Conference in San Jose, CA, May 19, 2013, hosted by the Bitcoin Foundation.

 

[jnagyjr]

Are you just spamming?

[thermos]

Are you just spamming?

i'm promoting bitcoin everywhere i go i say bitcoin should be for everyone not just the criminal elite and computer scientists  NYC;)




http://www.youtube.com/watch?v=4oD63-EJW5Y

[crumbs]

Are you just spamming?

i'm promoting bitcoin everywhere i go ...

Why preach to the choir?   Behold, I send you forth as sheep in the midst of wolves

[thermos]

Are you just spamming?

i'm promoting bitcoin everywhere i go ...

Why preach to the choir?   Behold, I send you forth as sheep in the midst of wolves

we need to unite against ignorance, stupidity and censorship in all of it's forms, blockchain "mystery dust" coup yes i said it, has to start somewhere welcome home we are here for the long haul btcfamily NYC;)



http://www.youtube.com/watch?v=uy_2MR0F1dg

[BTCvFiat]

decentralization is not the utilitarian value of Bitcoin, it's a side-effect of its utility, though. No, the utilitarian value of Bitcoin is in everyone having enough to support a market for goods and services (we'll ignore legality of any particular good or service for the moment, but that is important as well). Their value is in if there are people willing to take them for goods and services. If neither condition exists, it doesn't matter if they are decentralized or not, they completely lose their utility and hence, their value.

On the contrary, the decentralization of Bitcoin is what has allowed it to grow and flourish on its own merits (as people come and go in its development, as it's initial founder Satoshi demonstrates themself(/ves) ) and in turn encourage a market to also grow on it's own merits. Were this not the case than other fiat currencies like the USD would have sank on those same merits in the Great Depression of the 1930s (Bullion being the equivalent of Bitcoins in the days before the Internet) as opposed to being what it is today thanks to the Centralization of it by the US <again not Federal> Reserve bank (even outright confiscating Gold to keep demand in place for said currency).

Without that value, people would not trust in Bitcoin and it would have died a premature death (or be boxed out by other interests, see the Liberty Dollar as an example of that).

TL/DR: To call the Bitcoin community a side-effect is simple ignorance.

[MooC Tals]

Well I waited 9 months already so I can wait another 6. We will see how this turns out in Dec. If you all think Asic's are just a natural process in bitcoin evolution then you all should have nothing to complain about after. I will check back later.

You know who you all are. I'll be seeing you all later.

[jnagyjr]

decentralization is not the utilitarian value of Bitcoin, it's a side-effect of its utility, though. No, the utilitarian value of Bitcoin is in everyone having enough to support a market for goods and services (we'll ignore legality of any particular good or service for the moment, but that is important as well). Their value is in if there are people willing to take them for goods and services. If neither condition exists, it doesn't matter if they are decentralized or not, they completely lose their utility and hence, their value.

On the contrary, the decentralization of Bitcoin is what has allowed it to grow and flourish on its own merits (as people come and go in its development, as it's initial founder Satoshi demonstrates themself(/ves) ) and in turn encourage a market to also grow on it's own merits. Were this not the case than other fiat currencies like the USD would have sank on those same merits in the Great Depression of the 1930s (Bullion being the equivalent of Bitcoins in the days before the Internet) as opposed to being what it is today thanks to the Centralization of it by the US <again not Federal> Reserve bank (even outright confiscating Gold to keep demand in place for said currency).

Without that value, people would not trust in Bitcoin and it would have died a premature death (or be boxed out by other interests, see the Liberty Dollar as an example of that).

TL/DR: To call the Bitcoin community a side-effect is simple ignorance.

That isn't what I said at all. I said that decentralization is not Bitcoins main value, it's value from that is a side effect of it's value as a currency that is widely accepted. If it is not widely accepted, irregardless of miners and faucets, it has no value. Maybe I didn't say it clear enough before, but to take anything else away from that is silly and illogical.

[tgb29]

There is always an opportunity for Bitcoin because the transaction fees are lower than Visa and Paypal.

Another opportunity is international transfers which cost up to $40 from a US bank.

[PrintMule]

Add billing adresses and all that crap, plus monthly fees.

[Walsoraj]

Maybe ripple save us?

[BitCoinNewGuy]

BitCoin is crashing, has been for a while. BitCoin will fail.

[xristoskostouros]

BitCoin, is really dead. It will go 1 BTC = 1 US DOllar.
Then, it will stay there!

[Walsoraj]

What does this mean for the Alts?

[xristoskostouros]

That all Alts will be of this style
Ex;

1 LiteCoin = 0.1 USD
1 FeatherCoin = 0.2 USD
1 Frank = 0.01 USD

E.t.c *This is just an example, not the truth ok

[LoveCoin]

Yes bitcoin is dead ... sell everything real cheap ... I need to buy

[xristoskostouros]

Hieroning is cool but truth is cooler mate.

[jnagyjr]

There is always an opportunity for Bitcoin because the transaction fees are lower than Visa and Paypal.

Another opportunity is international transfers which cost up to $40 from a US bank.

And that is part of its value. It's nearly immune to insane fees (unless you really want to pay someone 10% to make a transaction for you, which is silly). I love BitCoin and I've only been in this for a few short days. I love it because it's something that cannot really be controlled or traced. It's just me and whomever I'm doing business with. How many Satoshi I have is my business and mine alone. If crytpocurrencies want to talk take off, they really need to get in gear in the advocacy department because I've only heard of BitCoin twice in my life before going after some. First when BitCoin first took off and then again when I started looking for alternate ways to make some money (about 4 days ago now).

[Denver$]

the bubble blew up