this is amazing!

[kireinaha]

No you are the short sighted moron.

What:s with all the name calling by the bitcoin true believers around here? Comments like these persuade me even further that the foundation of the bitcoin network is comprised of 12-year-old Internet trolls and guys like this whose belief in bitcoin is at a level comparable with religious fervor. It:s fine that your faith in bitcoin is unshakable, but how do you expect to rally other people to the bitcoin cause if you can:t even engage in a civil discussion without calling people stupid?

You only see Bitcoin as a TRADE. Thus, to you, it appears like a pump and dump scam.  You are unable to see the utility of bitcoin.

What utility? $700 for one coin (not including conversion fees) so people can go to Subway and buy a sandwich? I:ll stick with my credit card, which has far greater utility. If someone can create a "killer app" for bitcoin, it could be a different story, but that:s still a big *IF* and I don:t put my faith behind any new technology based only on the sunshine and happy thoughts of its supporters, most of whom have a financial/emotion stake in the asset.

You haven't REALLY researched it uses. You haven't REALLY learned about the eco-system developing around it. All YOU see is a $$$ attached and think that sentiment towards Bitcoin has something to do with the current price tag. Guess what?

It doesn't.

I:ve been around this forum for awhile and I:ve never heard one convincing reason for why people would want to convert their money to bitcoin. Aside from buying drugs online and engaging in crimes against children.

Bitcoin could go to $10 today and stay there 6 months and it would still become a disruptive technology in the world of finance. Crytocurrencies are going no where.

You could be right about that. In my opinion, they:ll fill a niche market, but never compete on the same level with our current monetary system. Hence why I view them as very overpriced at the moment.

[AndrewWilliams]

Crack is bad... mmmmkay? 

[dropt]

I:ve been around this forum for awhile and I:ve never heard one convincing reason for why people would want to convert their money to bitcoin. Aside from buying drugs online and engaging in crimes against children.

You're not thinking big enough.

[windjc]

No you are the short sighted moron.

What:s with all the name calling by the bitcoin true believers around here? Comments like these persuade me even further that the foundation of the bitcoin network is comprised of 12-year-old Internet trolls and guys like this whose belief in bitcoin is at a level comparable with religious fervor. It:s fine that your faith in bitcoin is unshakable, but how do you expect to rally other people to the bitcoin cause if you can:t even engage in a civil discussion without calling people stupid?

You only see Bitcoin as a TRADE. Thus, to you, it appears like a pump and dump scam.  You are unable to see the utility of bitcoin.

What utility? $700 for one coin (not including conversion fees) so people can go to Subway and buy a sandwich? I:ll stick with my credit card, which has far greater utility. If someone can create a "killer app" for bitcoin, it could be a different story, but that:s still a big *IF* and I don:t put my faith behind any new technology based only on the sunshine and happy thoughts of its supporters, most of whom have a financial/emotion stake in the asset.

You haven't REALLY researched it uses. You haven't REALLY learned about the eco-system developing around it. All YOU see is a $$$ attached and think that sentiment towards Bitcoin has something to do with the current price tag. Guess what?

It doesn't.

I:ve been around this forum for awhile and I:ve never heard one convincing reason for why people would want to convert their money to bitcoin. Aside from buying drugs online and engaging in crimes against children.

Bitcoin could go to $10 today and stay there 6 months and it would still become a disruptive technology in the world of finance. Crytocurrencies are going no where.

You could be right about that. In my opinion, they:ll fill a niche market, but never compete on the same level with our current monetary system. Hence why I view them as very overpriced at the moment.

I'm actually 40, own several successful businesses and spent months researching bitcoin before investing a dollar in it.

Sorry for the use of the word "moron" but it is my opinion that you are being one right now.

Your comments about bitcoin are just the same ol rehashed statements that people have been saying since day 1.

That's ok. Keep using your credit card. Don't go research the developing eco-system and who is involved in developing those "killer apps". Nothing to see there but "sunshine pumping."

Give me someone who has spent months researching bitcoin, how it works, how it has evolved, all the players behind the scenes, where the VC money is coming from, how governments are actually reacting, etc.  Then let that person tell me why bitcoin won't succeed.

But you? You are bringing weak sauce to the table my friend. And you stand to be on the wrong side of history because of it.

[piramida]

Lol, sell and run away mate, this is obviously not a game for you.

He already did at about $400, and presumably moved cash into gold; I actually have no idea what he does here anymore

[kireinaha]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

[bassclef]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

The train is slowly leaving the station, and you're standing on the platform. By the time your killer app is developed it'll be 2000 miles away.

[bitcoin carpenter]

really?

anyone who knows why we buy bitcoins can see that is a 10k to 1m/btc idea with a good possibility it could be worth 0
that is why you invest as much as you can lose, because on the upside it is a 10X-1000X investment, and on the downside it is a smoking habit

step one
becomes an accepted speculation investment amongst average investers $500-5k/btc
step two
becomes an easy way to transfer money and buy assets around the world..  10k-50k/btc
step 3
becomes the collateral by which large import export is done around the world ie, a storage of wealth 100k-300k/btc
step 4
becomes the financial collateral by which large countries can repay deficit in trade 1m-10m/btc  

gamble and hope
invest and profit
speculate, and lose sleep

this is Bitcoin

[Hyena]

People who register during rallies should not be allowed to post to speculation subforums. The moronic newbie posts are getting annoying.

[windjc]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

link?

[the joint]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

This is a nice chicken and the egg problem.  You aren't convinced about Bitcoin's chances for success because you don't see a perfect implementation of the technology yet.  But, on the other hand, I'm sure you're smart enough to know that initial implementations aren't going to be perfect (this is why 747s weren't invented by the Wright brothers and why Facebook and Google weren't among the first websites).  Now, I'm sure you recognize that airplanes and the Internet are essential to our modern way of life.  While I think it's fair to assume that Bitcoin may be inferior to its future (or even current) siblings, do you think it's fair to write off cryptocurrencies as a whole?

[kireinaha]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

link?

Reuters article from last month:
http://uk.reuters.com/article/2013/10/01/markets-forex-bitcoin-idUKL2N0HK1NS20131001

[kireinaha]

People who register during rallies should not be allowed to post to speculation subforums. The moronic newbie posts are getting annoying.

There we go again with "moron".. sigh. And if you:re referring to me, I have been around this forum since last spring. I really weep for any of you guys who are becoming so deluded that you absolutely refuse to hear any opinion that conflicts with your bullish optimism.

[kireinaha]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

This is a nice chicken and the egg problem.  You aren't convinced about Bitcoin's chances for success because you don't see a perfect implementation of the technology yet.  But, on the other hand, I'm sure you're smart enough to know that initial implementations aren't going to be perfect (this is why 747s weren't invented by the Wright brothers and why Facebook and Google weren't among the first websites).  Now, I'm sure you recognize that airplanes and the Internet are essential to our modern way of life.  While I think it's fair to assume that Bitcoin may be inferior to its future (or even current) siblings, do you think it's fair to write off cryptocurrencies as a whole?

Your point is taken; and I certainly don:t dismiss cryptocurrency as a whole. I see it as unlikely that bitcoin itself will become a widely adopted currency, but that:s not to say there won:t be another form of cryptocurrency in the future that makes a big impact. And if that does happen, it will likely be developed by a big player, such as an Internet giant or by the existing banking system, with little chance of financial windfalls for earlier adopters.

[conspirosphere.tk]

I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

there are several killer apps that bitcoin is:
- asset preservation and protection from confiscation and inflation
- private property
- freedom
does your slave card come with any of those?

[Hyena]

People who register during rallies should not be allowed to post to speculation subforums. The moronic newbie posts are getting annoying.

There we go again with "moron".. sigh. And if you:re referring to me, I have been around this forum since last spring. I really weep for any of you guys who are becoming so deluded that you absolutely refuse to hear any opinion that conflicts with your bullish optimism.

Don't worry, bro, I didn't refer to you nor anyone specific personally. It's just that I see dumb posts by people in newbie status a lot these days so there has to be a correlation between that phenomenon and the price rally.

[kireinaha]

I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

there are several killer apps that bitcoin is:
- asset preservation and protection from confiscation and inflation
- private property
- freedom
does your slave card come with any of those?

Okay, I:ll give you the point about confiscation, which was a reason cited behind the April rally. There is some validity to that argument, but as an American, I:m not concerned about having my assets seized. I:m not saying that it couldn:t come to that eventually, but it:s not something that I or your average citizen is concerned about in the slightest right now. If you live in Greece, this could be a valid issue though.

But before people begin using bitcoin as a store of value, it needs to become much more stable. Given the round of rampant speculation over the past two years, it seems that it would be a long time before we can actually settle into a price range. For the forseeable future, people will fall back on alternatives such as precious metals.

[windjc]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

link?

Reuters article from last month:
http://uk.reuters.com/article/2013/10/01/markets-forex-bitcoin-idUKL2N0HK1NS20131001

There is no quote in that article. Tiny built a company around Bitcoin. Do you actually believe he said that? Ok. Guess you do.

[piramida]

And if that does happen, it will likely be developed by a big player, such as an Internet giant or by the existing banking system, with little chance of financial windfalls for earlier adopters.

Yep just like MPAA developed bittorrent and postal service created internet. And everybody would just start using the centrally issued coin just because it's infinitely worse and has a fixed issue and exchange rate. You really don't understand anything about bitcoin yet, do you.

[kireinaha]

Even the co-founder of Bitpay gives BTC an 80% chance of failing and returning to near zero in the next few years. Until then, you might be able to make a nice return engaging in speculation, but I:m still waiting for that killer app that:s going to convince everyone to cut up their credit cards and jump onboard the train.

*chrip* *chirp*

link?

Reuters article from last month:
http://uk.reuters.com/article/2013/10/01/markets-forex-bitcoin-idUKL2N0HK1NS20131001

There is no quote in that article. Tiny built a company around Bitcoin. Do you actually believe he said that? Ok. Guess you do.

From the article:

Even some active players do not give high odds to that: BitPay Co-founder and CEO Anthony Gallippi estimates an 80 percent chance the value of bitcoin could go to zero.

Seems pretty clear to me how he feels.