$10,000 when?

[brg444]

Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online.  Huge now, but it doesn't own the sourcecode/Bitcoin protocol.  Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.

Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep.

AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase.

The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one.  Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol).
The fact of the matter is they can and do

 

Other coins are not providers.

What other coin use Bitcoin?

Don't make me explain what the long word "analogy" means.  It certainly doesn't mean "identical" or "equal."
Bitcoin protocol is not your blockchain.  Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. 
Are you intentionally being obtuse?

The protocol being discussed is the Bitcoin blockchain implementation and its units.

There could be thousands of TCP/IP clones/implementation but only one implementation is supported.

[labsbitforum]

Doesn't take much foresight to imagine all those problems being solved in due time. You people sound like those who were saying the internet would never scale in 1992.

and btw, tcp/ip v4 has the fatal flaw too, namely extremely inadequate addressing space, known since 30 years ago. you know what? we learned to live with that instead of replacing it with a superior tech. because expensive to replace everything. with every passing day, it is less and less likely that bitcoin will ever be replaced.

IP V6 will happen.  It will take some time but eventually will get done.  And there will be a replacement to that too at some point in the future.  If you look at the history of the world you see all things go through this evolution cycle.  

This back and fourth is silly.  My plain and simple point is bitcoin has flaws that I don't think are being addressed fast enough making it more likely that it will be superseded by something else prior to it reaching a point where 1 BTC = $10,000 USD.  Yes, "all those problems being solved in due time.", but it may not be by bitcoin.  Its naive to believe that bitcoin will retain its dominate position in the space forever and ever.  Its evolved only slightly from its initial experimental proof of concept launch.

[NotLambchop]

Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online.  Huge now, but it doesn't own the sourcecode/Bitcoin protocol.  Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.

Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep.

AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase.

The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one.  Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol).
The fact of the matter is they can and do

 

Other coins are not providers.

What other coin use Bitcoin?

Don't make me explain what the long word "analogy" means.  It certainly doesn't mean "identical" or "equal."
Bitcoin protocol is not your blockchain.  Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. 
Are you intentionally being obtuse?

The protocol being discussed is the Bitcoin blockchain implementation and its units.

There could be thousands of TCP/IP clones/implementation but only one implementation is supported.

That's why the TCP/IP analogy fails, and AOL is a better fit.  AOL relied on TCP/IP for its business.  Bitcoin (your particular blockchain, your "implementation" of Satoshi's technology) similarly relies on the Bitcoin protocol

[LOBSTER]

Doesn't take much foresight to imagine all those problems being solved in due time. You people sound like those who were saying the internet would never scale in 1992.

and btw, tcp/ip v4 has the fatal flaw too, namely extremely inadequate addressing space, known since 30 years ago. you know what? we learned to live with that instead of replacing it with a superior tech. because expensive to replace everything. with every passing day, it is less and less likely that bitcoin will ever be replaced.

IP V6 will happen.  It will take some time but eventually will get done.  And there will be a replacement to that too at some point in the future.  If you look at the history of the world you see all things go through this evolution cycle.  

This back and fourth is silly.  My plain and simple point is bitcoin has flaws that I don't think are being addressed fast enough making it more likely that it will be superseded by something else prior to it reaching a point where 1 BTC = $10,000 USD.  Yes, "all those problems being solved in due time.", but it may not be by bitcoin.  Its naive to believe that bitcoin will retain its dominate position in the space forever and ever.  Its evolved only slightly from its initial experimental proof of concept launch.

Maybe you are right but I think that it will reach anytime the value, that Bitcoin is really worth. And we are far away from this value because the new financial chapter has just begun. Maybe Bitcoin isn't the solution for everything, but it's a role model for a new economy based on Blockchains.

[brg444]

Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online.  Huge now, but it doesn't own the sourcecode/Bitcoin protocol.  Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.

Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep.

AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase.

The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one.  Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol).
The fact of the matter is they can and do

 

Other coins are not providers.

What other coin use Bitcoin?

Don't make me explain what the long word "analogy" means.  It certainly doesn't mean "identical" or "equal."
Bitcoin protocol is not your blockchain.  Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. 
Are you intentionally being obtuse?

The protocol being discussed is the Bitcoin blockchain implementation and its units.

There could be thousands of TCP/IP clones/implementation but only one implementation is supported.

That's why the TCP/IP analogy fails, and AOL is a better fit.  AOL relied on TCP/IP for its business.  Bitcoin (your particular blockchain, your "implementation" of Satoshi's technology) similarly relies on the Bitcoin protocol

No, Bitcoin blockchain is its own protocol. It doesn't rely on a protocol. It is an implementation of different technologies that create a standard for value transfer.

Clonecoins can create different implementations using the same technologies but they become entirely different protocols of value transfer.

Coinbase relies on the Bitcoin protocol for its business. Coinbase = AOL.

[NotLambchop]

Bitcoin (the blockchain you're invested in) is not TCP/IP, it's more like America Online.  Huge now, but it doesn't own the sourcecode/Bitcoin protocol.  Just like other service providers started using TCP/IP, other coins can use the Bitcoin protocol.

Oh no, you are confusing idea with an implementation. There were hundreds network protocol implementations, anybody can take the idea of "how do I package the data and send it over the wire", but only one is the true king; others found their niches. It applies to bitcoin perfectly - there will be only one true blockchain, and there will be many niche cryptos, but it is already impossible to dethrone bitcoin - it has rooted too deep.

AOL had nothing to do with tcp/ip or internet, it was a user-facing service built on top of the protocol. Say MtGox or coinbase.

The analogy Bitcoin/AOL is certainly better than Bitcoin/TCP/IP one.  Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol).
The fact of the matter is they can and do

 

Other coins are not providers.

What other coin use Bitcoin?

Don't make me explain what the long word "analogy" means.  It certainly doesn't mean "identical" or "equal."
Bitcoin protocol is not your blockchain.  Bitcoin protocol is a convenient name for the protocol devised by Satoshi, used by SHA256 clonecoins. 
Are you intentionally being obtuse?

The protocol being discussed is the Bitcoin blockchain implementation and its units.

There could be thousands of TCP/IP clones/implementation but only one implementation is supported.

That's why the TCP/IP analogy fails, and AOL is a better fit.  AOL relied on TCP/IP for its business.  Bitcoin (your particular blockchain, your "implementation" of Satoshi's technology) similarly relies on the Bitcoin protocol

No, Bitcoin blockchain is its own protocol. It doesn't rely on a protocol. It is an implementation of different technologies that create a standard for value transfer.

Clonecoins can create different implementations using the same technologies but they become entirely different protocols of value transfer.

Coinbase relies on the Bitcoin protocol for its business. Coinbase = AOL.

This is degenerating into semantics pedantry.  If you don't like me calling this technology "Bitcoin protocol," fine, call it whatever.  The point is you didn't invest in the technology any more than AOL invested in TCP/IP.
Bitcoin relies on this technology, just like AOL relied on TCP/IP, but that's it.

[brg444]

Doesn't take much foresight to imagine all those problems being solved in due time. You people sound like those who were saying the internet would never scale in 1992.

and btw, tcp/ip v4 has the fatal flaw too, namely extremely inadequate addressing space, known since 30 years ago. you know what? we learned to live with that instead of replacing it with a superior tech. because expensive to replace everything. with every passing day, it is less and less likely that bitcoin will ever be replaced.

IP V6 will happen.  It will take some time but eventually will get done.  And there will be a replacement to that too at some point in the future.  If you look at the history of the world you see all things go through this evolution cycle.  

This back and fourth is silly.  My plain and simple point is bitcoin has flaws that I don't think are being addressed fast enough making it more likely that it will be superseded by something else prior to it reaching a point where 1 BTC = $10,000 USD.  Yes, "all those problems being solved in due time.", but it may not be by bitcoin.  Its naive to believe that bitcoin will retain its dominate position in the space forever and ever.  Its evolved only slightly from its initial experimental proof of concept launch.

When a viable solution to these "problems" arises it will be implemented into Bitcoin way before it spawns a competing crypto. The network, the market, and any invested parties have entrenched interest into the Bitcoin blockchain and no incentive to allow a successor. They will put any required resources to use in order to adapt Bitcoin and maintain that status quo. This is the strength of the network effect.

[brg444]

This is degenerating into semantics pedantry.  If you don't like me calling this technology "Bitcoin protocol," fine, call it whatever.  The point is you didn't invest in the technology any more than AOL invested in TCP/IP.
Bitcoin relies on this technology, just like AOL relied on TCP/IP, but that's it.

No, Bitcoin is the technology. It relies on no other protocol for transfer of value than its own.

AOL is not a technology, it is a service or a platform built on top of the TCP/IP technology, like Coinbase is built on top of the Bitcoin technology

Are you intentionally being obtuse?

[NotLambchop]

It's becoming clear reasoning with a brick would be more productive.  Fine, have a happy gif.

[brg444]

Slander and pedantry, the tools of the desperate trolls.

[NotLambchop]

Denial and butthurt, tools of the desperate Bitcoin cultists.
Enjoy your gif

[brg444]

Denial and butthurt, tools of the desperate Bitcoin cultists.
Enjoy your gif

Comparing Bitcoin to TCP/IP implies that other coins (providers) can't use TCP/IP (the Bitcoin protocol). The fact of the matter is they can and do

Your dead brain logic in a nutshell.

That hole you are digging, it is deep.

[NotLambchop]

^It's OK, buddy.  Who can blame you for being peevish when you BTCeanie BTCabies Bitcoin investment turned out so nice?
You can now retreat into your well-defended delusions

[bellicose]

Why do people think that it's impossible for BTC to reach there? Not only limited to such factors as %s of gold, forex, stocks, equities, etc., but we must not forget that whenever the stagnancy of either miners or BTC will take place, some huge longs or shorts will take place for sure...

Even I hate it when someone says it's impossible as I'm too a firm believer that it will reach that for sure... Winklevoss brothers ain't much fools to say that BTC will be $1,00,000 one day...

I don't know why, they are stupid.

* Compare to gold -> BTC are more limited. Unique!
* Compare to fiat -> BTC are more limited.
* There is no similar technology of e-money, yet. Probably, kind of E-Money v2.0 would be more powerful, useful, etc, than Bitcoin. And appearing of such E-Money v2.0 should stimulate growing of Bitcoin's cost, but slowdown it eventually.
* Probably, 99% of humanity are sleeping still. Because misunderstanding of E-Money's superiority over Paper-Money - is stupidity.

Probably, kind of peoples thought that this is normal situation, when nobody know about Bitcoin, about fast, easy, crypto-persistent, decentralized, unique technology of E-Money. They are thought that this situation will continuing. Than they are right.

More than slower popularity of Bitcoin will growing, the slower its price will growing. It is only about acceptability on the side services, such as markets, shops, banks, wallets-systems, other e-money systems, etc....

May be this is a reason?

What is easy to understand, that youtube - is TV v2.0 over the Internet or that Bitcoin is Gold or Money v2.0 over the Internet?

This barrier of hard Further Mathematics behind cryptography that is fundamental thing of Bitcoin - is pivot of slow downing ( slow rocketing )....

[JimboToronto]

Your dead brain logic in a nutshell.

That hole you are digging, it is deep.

You're wasting your time talking to a brick wall.

She hasn't got the brainpower to think things through.

Trust me. Things are so much saner when you put her on ignore.

The only reason I'm posting this is that you quoted her.

[Odalv]

Your dead brain logic in a nutshell.

That hole you are digging, it is deep.

You're wasting your time talking to a brick wall.

She hasn't got the brainpower to think things through.

Trust me. Things are so much saner when you put her on ignore.

The only reason I'm posting this is that you quoted her.

+10,000 :-)

[NotLambchop]

^Bitcoin's brain trust congratulating each other for losing money hand over fist for the past year.
Rest of the world points fingers and laughs.

[Odalv]

[picolo]

This is degenerating into semantics pedantry.  If you don't like me calling this technology "Bitcoin protocol," fine, call it whatever.  The point is you didn't invest in the technology any more than AOL invested in TCP/IP.
Bitcoin relies on this technology, just like AOL relied on TCP/IP, but that's it.

No, Bitcoin is the technology. It relies on no other protocol for transfer of value than its own.

AOL is not a technology, it is a service or a platform built on top of the TCP/IP technology, like Coinbase is built on top of the Bitcoin technology

Are you intentionally being obtuse?

Bitcoin is a technology, it can freely copied but the system relies on a network, infrastructure and users that give it more value than a copy.

[NotLambchop]

...
Bitcoin is a technology, it can freely copied but the system relies on a network, infrastructure and users that give it more value than a copy.

Agreed. 
Bitcoin has the prime mover advantage, but is also hobbled by miscalculations inherent to every prototype, some of which are impossible to correct for at this point (excessive block reward, for instance).

But that's a tangent.  All I meant to suggest is bitcoin (the unit of this blockchain) is not Bitcoin the technology.