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Author Topic: Let's be realistic. For what reason do you really think Bitcoin will rise?  (Read 2028 times)
Rampion
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July 06, 2013, 08:04:48 AM
 #21


6 billion people
trillions of dollars in the world
only 21 million bitcoins, bitcoins can be divided into 7 decimal places so if it does go up or down its irrelevant, its meant to be a currency anyways

4h confirmations, 12 transactions per second (correct me if I'm wrong), yeah what a fantastic currency  Roll Eyes
7 transactions per second, I'm afraid Bitcoin scales even worse than you thought. Cheesy

Can you explain this for me, please? Why seven? Is this fixed for eternity, or could it grow? Thanks.

It could grow if the block size grows.

Crypt_Current
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July 06, 2013, 08:18:11 AM
 #22

"Bitcoin is still a child"; June 2011 bubble = it spoke its first word
April 2013 bubble = it spoke its first curse word
 Cheesy
and how do we react when we hear a child utter its first socially awkward statement?
Depends on who we are, as individuals.  But consider this:  The more "adults" standing around watching the child as it spews novel (and "socially prohibited" / rebellious) verbiage, the more attention (bad / good, whatever, any) will be lavished upon it.
Most children speak a first word -- the event is not so amazing on the whole.
But personally, I think it's hilarious when a young child uses vulgar language it probably doesn't understand at an unexpected time!   Grin

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July 06, 2013, 09:27:59 AM
 #23

It works, was first and technology demands it.

Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes.


Bitcoin wasn't the first either. There were crypto currencies before Bitcoin, but none effectively solved the double spend problem. Perhaps, and this may be bold, but perhaps Bitcoin learned from it's predecessors...

which is why bitcoin will not be the end all of cryptocurrencies.  it is the firsts successful one but there will be others that will prove to have advantages over bitcoin.  this is still a pioneer industry and it still in development.  it is not ready for prime time but it is close, about 3-5 years away from true public adoption.

+1
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July 06, 2013, 10:50:56 AM
 #24

It works, was first and technology demands it.

Not necessary because of being first. Google was the 20th search engine to emerge. It learnt from all it's previous competitors mistakes.


Bitcoin wasn't the first either. There were crypto currencies before Bitcoin, but none effectively solved the double spend problem. Perhaps, and this may be bold, but perhaps Bitcoin learned from it's predecessors...

which is why bitcoin will not be the end all of cryptocurrencies.  it is the firsts successful one but there will be others that will prove to have advantages over bitcoin.  this is still a pioneer industry and it still in development.  it is not ready for prime time but it is close, about 3-5 years away from true public adoption.
which is why TCP/IP will not be the end all of protocols.  it is the firsts successful one but there will be others that will prove to have advantages over TCP/IP.  this is still a pioneer industry and it still in development.  it is not ready for prime time but it is close, about 3-5 years away from true public adoption.

Some history lesson for you guys. TCP/IP was developed 1969 and became a standard 1973. We still use it for 99% of all traffic even though the size of data, its applications and what kind of people use it has changed.

I can definatly see the same with bitcoins, everyone using bitcoin but for some weird applications like transactions on Mars, microtransaction etc people use different protocols on top of bitcoin.
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July 06, 2013, 10:46:23 PM
 #25

Some history lesson for you guys. TCP/IP was developed 1969 and became a standard 1973. We still use it for 99% of all traffic even though the size of data, its applications and what kind of people use it has changed.

Remember the latter part of the 90's when we should start switching to IP6, only 2-3 yrs ago it really started to happen.

In relation to BTC - I guess stuff takes time. But if there's not a few bubbles before that, there will be one in 2017 - unless BTC have become some obscure old thing like gopher or X.25

BitCoin is NOT a pyramid - it's a pagoda.
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