BITCOIN should get BACK TO BASICS

[btcfre@k]

ok now this is a DISCUSSION no need to be agressiv or mad at anyone so here is the point:
bitcoin should get back to basics (trading,buying stuff and service,asset,and mooving money around,gambling..)and bitcoiner should stop think they are going to change the world.because its not true.you can not pretend to change the world with bitcoin,its complementary to the fiat nothing more.
we all see how chinese intervention after baidu annonce it totally cracked up btc price ,having so much people investing in a such small market is very negative.we should all get back to basics and finally allow eshop,service provider to use bitcoin as payment provider..this way btc will be stable..but if 5$ buyer and 90$ buyer keep pushing and pushing everybody in the earth to buy bitcoin we will loose all credits...
so what is your point?not trolling please i would like to have a mature discussion for ONE time over here..im tryin to have a point and i need your opinion all guys!
peace

[1715117003]

1715117003

[cfrm]

The internet is also complimentary to real life. Doesn't mean it didn't change the world.

[btcfre@k]

The internet is also complimentary to real life. Doesn't mean it didn't change the world.

what you want to say is bitcoin is going to change the world?tell me how and lets argue about this

[nwbitcoin]

Bitcoin will change lives, but only in the same way that Facebook did! ;-)

The problem with forecasting the future is that unless you know everything that is planned, and can estimate all the relationships that are yet to be made, and are very lucky - its not going to happen the way you think.

Maybe if Bitcoin was described as programmable money, it would give laypeople an idea of how much it will change their lives.

[wumpus]

You can't put the genie back into the bottle.

[AnonyMint]

You can't put crypto-currencies back in the bottle, it doesn't mean Bitcoin solely defines the future of crypto-currencies.

Also it is too late to say that crypto-currencies are not changing the world. They already have to some extent. I think you are meaning to say we shouldn't expect Bitcoin to create a nirvana of anonymous, tax-free, smaller government, less capture of the government and money by the impossibility of the real democracy, etc.. If so, even the outcome on those is to some (minor or major depending how we view the issues) degree dependent on design decisions for Bitcoin which you are surely lacking depth of knowledge about.

If you want to think about the basics, you need to think about the technical design of Bitcoin, what could be different and the impact those differences would make. Only a very astute programmer who is also economist who is also a proven internet marketer, who is also well researched on the current trends of the world, could really make such insights.

So far in my discussions on the forums, most (if not nearly 99%) of all people are unable to comprehend the technical design of Bitcoin and the implications. I am including in that 99% the Bitcoin developers themselves and most of the commentators who think they are knowledgeable about the block chain.

The author of the OP clearly doesn't have a deep understanding of the real issues at hand. And it would be silly for me to think I could start an interesting discussion, because all that will happen if I will be scorned and misunderstood, even if I wrote a library in this thread.

... my current thinking is absent government killing it or a killer altcoin, Bitcoin adoption slows once all of those who are tech savvy are in. If someone finds a way to make Bitcoin super easy for people like my mother, then the adoption could continue all the way into the entire population, because for example my mom eventually adopted Paypal. But here is the pertinent revelation, she has no reason to switch from Paypal, it already serves the purposes she needs from an electronic currency. Let that thud sink in. She and most average people will refuse to buy a speculative asset.

One caveat is to note not all citizens in all developing countries can be merchants with Paypal, so this is a potential market opportunity, but other than for international money transfers so far I see no other mainstream Bitcoin adoption whatsoever in this market segment. Note the recent sending of Bitcoin for typhoon victims is an example where Paypal probably would have failed us, as it is difficult to withdraw from Paypal in the Philippines (only certain banks accepted, only certain types of accounts at those banks, and in general one can not be receiving payments as a merchant). Also the ability to side-step China's capital controls by buying BTC.

Yet none of them (save bank account) is sanctioned by law. I believe Bitcoin will soon join this group of de facto used technologies.

Sorry the latter doesn't follow from the former, meaning de facto adoption of technology has nothing to with that it is or isn't sanctioned by law. And the latter is impossible (with 10 minute blocks, non-zero transaction fees, etc). Reality check.

While leavening the system, it does away with fiat money (including debt), and we will have a quite interesting new world when all is completed.

We all wish that was true, but it is in fact impossible, at least the current design of Bitcoin.

I would rather you look at Bitcoin as potentially the first stepping stone in that direction, as Friendster which led to Myspace which led to Facebook. Whether Bitcoin will be modified (unlikely due to vested interests), offchain takes over (possibly), the government will take over (most likely in my analysis), or an altcoin will outcompete (less likely) remains to be seen.

[bathwater]

what are you trippin on ?

just who do you think is buying bitcoin ?? the mother of three kids ? the school teacher ? the college student ? the gamer ? the construction worker ? the baker ? the farmer ? the store vendor ? the ice cream man ? the fire-fighter ? the dog walker ? the hamburger flipper ? oh, maybe the wal-mart worker and the wal-mart shopper. is this who you mean by the 5$ and 90$ buyer ??

 i dont believe, despite the news reports, the main population know about bitcoin, let alone trust in it enough to put whatever money on hand into a idea that cost hard earn cash. the economy is down everywhere, prices are going up everywhere, and the idea is about 5 years too advance for most people to take hold of.

so who is buying bitcoin? how much does the average buyer hold ? according to bitstamp.com, there are 12,100,000 bitcoin currently. at this availability, and with 0.00546 and 0.0983 (5$ & 90$) there should be between 123,092,573 - 2,420,000,000 users. which is likely not the case, seeing that bitcoin acceptance is low. who who is buying ? how much are they holding ? what is the exchange rate for goods and services ? i think that question needs to be clarify before we start talking about "bask to the basics". because its obvious, someone is hording all the bitcoins.

as of right now, bitcoin is not a currency; bitcoin is a stock. and in that respect, trading goods and services with speculation is reserved only for a certain creed of beings. security steve and play it safe sally is the market and i dont see them pulling up a chair at the bitcoin table.

[bathwater]

You can't put crypto-currencies back in the bottle, it doesn't mean Bitcoin solely defines the future of crypto-currencies.

Also it is too late to say that crypto-currencies are not changing the world. They already have to some extent. I think you are meaning to say we shouldn't expect Bitcoin to create a nirvana of anonymous, tax-free, smaller government, less capture of the government and money by the impossibility of the real democracy, etc.. If so, even the outcome on those is to some (minor or major depending how we view the issues) degree dependent on design decisions for Bitcoin which you are surely ignorant about.

If you want to think about the basics, you need to think about the technical design of Bitcoin, what could be different and the impact those differences would make. Only a very astute programmer who is also economist who is also a proven internet marketer, who is also well researched on the current trends of the world, could really make such insights.

So far in my discussions on the forums, most (if not nearly 99%) of all people are unable to comprehend the technical design of Bitcoin and the implications. I am including in that 99% the Bitcoin developers themselves and most of the commentators who think they are knowledgeable about the block chain.

The author of the OP clearly doesn't have a deep understanding of the real issues at hand. And it would be silly for me to think I could start an interesting discussion, because all that will happen if I will be scorned and misunderstood, even if I wrote a library in this thread.

what are you rambling-on about ?? haha, jk.

nobody wants you to write essays and nobody wants to read essays, but what would your outline behold to us the reader ?

example:

"main point
 - explanation and reason

main point
 - explanation and reason"

[AnonyMint]

nobody wants you to write essays and nobody wants to read essays, but what would your outline behold to us the reader

Exactly. The average person wants a 30-seconds "sound bite" world. A world of TV commercials.

Thus they are easily controlled with mass media and are unable to comprehend the world around them.

[drrussellshane]

nobody wants you to write essays and nobody wants to read essays, but what would your outline behold to us the reader

Exactly. The average person wants a "sound bite" world.

Thus they are easily controlled with mass media and are unable to comprehend the world around them.

I haven't read all your posts, but I like this one.

[Lethn]

Thems fighting words newbie >_<

p.s. Just like with Thailand, China didn't actually ban Bitcoin, it's just a bunch of hysterical people ( usually Americans ) that claim they did and some of the media picked it up and ran with it.

[AnonyMint]

Thems fighting words newbie >_<

p.s. Just like with Thailand, China didn't actually ban Bitcoin, it's just a bunch of hysterical people ( usually Americans ) that claim they did and some of the media picked it up and ran with it.

I believe if readers were looking closely they would have seen (as I did) that wrong interpretation is being driven top-down. Even Bloomberg ran a story with that wrong interpretation. And you can see the Baidu press release that they were complicit in the propaganda manipulation because there is no way the richest man in China didn't know that BTC is volatile (the lame excuse they gave for reversing their decision).

Did you see what Facebook is up to now?

[bathwater]

nobody wants you to write essays and nobody wants to read essays, but what would your outline behold to us the reader

Exactly. The average person wants a 30-seconds "sound bite" world. A world of TV commercials.

Thus they are easily controlled with mass media and are unable to comprehend the world around them.

is bitcoin a cause for medication yet?

you linkage to what facebook is doing isnt revealing. on the whole bad press thing. i seen greenspan talking about how bitcoin doesnt have a secure backer. and yet again i would say the big picture is missed.

 http://www.bloomberg.com/video/greenspan-on-bitcoin-i-guess-it-s-a-bubble-Mu~7aDC9Q8i_b0hSa4i6XA.html

[jongameson]

spinach deep dish PIZZA FOR *ONLY* 350,000 BITCOINS *drools on keyboard*

[AnonyMint]

you linkage to what facebook is doing isnt revealing

Clarification? Why do you say that?

[btcfre@k]

maybe he mean in the progression..a big grow up and then a very big slow evolution..

[ajax3592]

I think a majority of population has now at-least heard the word "bitcoin". Even here in India I read headlines about Bitcoin prices.

The next major step for bitcoin IMO would be when local shops around the world start accepting BTC

All the "investors" on this forum keep blindly saying that it's going "to the moon to the moon" backed no facts but only faith and hope.

A genuine conversation about this seems to be missing, let's hope this turns into one.