Bitcoin - the future or the past?

[mrvicar]

In my humble opinion,
What is bitcoin all about? Well its about being able to trade across borders and across societies with out restrictions - this is a currency (some will argue) that allows freedom from international boundaries and some treat it as "discrete transactions" and "untraceable transactions" - and some use it for the wrong reasons! Well how about hard cash? Dollars, Euros, Pounds in your hand between a buyer and a seller or a giver and a taker! What's wrong with it - its like any currency and its how the people choose to use it.

 What has this got to do with any government? ---  Governments in time will try to tax this "new" currency and I ask you how can they? (They will try)

(Off topic) If China has embraced BTC but "doesn't totally condone it" (they have atm but they don't want the banks to support it?? - (communist yet collateralising), well that's their politics - Chinese will trade this offshore - and are already doing it!

If I agree to sell you a "Ipod" for instance - pay me in BTC - if you pay import duty to your government then that is OK, if I pay import duty it is OK. I am not a criminal for dealing Crypto!
I believe in freedom of currency that the PEOPLE of the world can trade! - All people and not one nation or several nations having restrictions and their own "conversion rates" on incoming and out going currencies and exchange rates! - Banks are getting scared of losing out (comments please).....

May be Bitcoin isn't the answer to a universal currency - this is just the beginning - the next generation of "Universal - cross border currency" is yet to come. Lets embrace it while its here and make the most of it while it lasts and the future hold a true Universal currency.

I don't think its about a European market, USA dollar market or a Chinese market or any other market
How about about we play it on a level playing field with a universal market?




(All my opinions are my own - slate me if you like - agree with me if you like - this is just out there for debate and I would like all you opinions).....

[waldox]

bitcoin is the precursor to true democracy and democratic world government
 leading to a new era of world utopia
thats my dream

[appl]

faith in bitcoin

[Dogtanian]

I think Bitcoin, simply put, is about being 'true' money and not relying on any bank or authority to control or issue it.

[cryptnutter]

Bitcoin is the financial platform of the future. Look for new "parallel chains" to be developed that will take Bitcoin to the next level.

[bitsmichel]

If China has embraced BTC but "doesn't totally condone it" (they have atm but they don't want the banks to support it?Huh? - (communist yet collateralising), well that's their politics - Chinese will trade this offshore - and are already doing it!

China is not communist any more. Not for a long time. They had reformations many years ago.
That is not to say they are a democracy, but neither is the US nor Saudi Arabia.

[paulsonnumismatics]

Bitcoin is the financial platform of the future. Look for new "parallel chains" to be developed that will take Bitcoin to the next level.

Been hearing that for almost two years now... Lots of conferences, lots of announcements and "big developments" in the horizon...
But at the end of the day, same ASICs spilling satoshis and everyone checking BTC-e.
#Stalling . In my opinion.

[crunchynut]

past. after all these years you still can't do much with bitcoins, and with all the scams and up and downs, i doubt that there are many non-bitcoiners left that will buy the fairy tale of "everybody getting rich". too many got burned. maybe, with some major events that make nice news stories it's good for another pump, but it will proceed to fail horribly in making itself useful in a normal person's daily life.

[Dimelord]

Blackcoin.

[lynn_402]

past. after all these years you still can't do much with bitcoins, and with all the scams and up and downs, i doubt that there are many non-bitcoiners left that will buy the fairy tale of "everybody getting rich". too many got burned. maybe, with some major events that make nice news stories it's good for another pump, but it will proceed to fail horribly in making itself useful in a normal person's daily life.

All these years? You mean, like, four years?
How many generation did it take for our ancestors to stop bartering and start dealing with gold? Big changes don't happen overnight. Decentralised cryptocurrencies are better adapted than national fiat currencies to our borderless "global village" (as Marshall McLuhan says it).

[crunchynut]

son, it's the digital age. 4 years is a long time nowadays. you might think of bitcoin as the one revolution that manages to actually take place, but maybe it's just the next myspace, geocities or online poker - exponentially growing over several years and then people get bored and move over to the next big thing. what if nobody cares about your revolution and bitcoin is just another internet trend that's good for some years of "the sky is the limit" before getting abandoned?

[lynn_402]

son, it's the digital age. 4 years is a long time nowadays. you might think of bitcoin as the one revolution that manages to actually take place, but maybe it's just the next myspace, geocities or online poker - exponentially growing over several years and then people get bored and move over to the next big thing. what if nobody cares about your revolution and bitcoin is just another internet trend that's good for some years of "the sky is the limit" before getting abandoned?

Cryptocurrencies are not technologies like facebook with which you can create an account without risks in a few minutes, and who can easily get popular in a few months. They need years to prove their worth, and it takes time for people to understand their relevance and their trustworthiness, and then actually put their money in them.

Myspace failed, but social networking lived on. In the same way, if Bitcoin would fail for whatever reason, another cryptocurrency would take its place and this will not happen overnight (ie. we'll have time to switch boat). And I'm not here because of exponential growth, but because I know Bitcoin has value - I would not mind it staying a niche decentralised store-of-value and currency, and I'm sure I'm not the only one.

[DanielVG]

I believe in the success of crypto-currencies.
There's place for it in our society.
Since the dawn of the internet and digital revolution our society has become more access-able.
Everything is being digitalized.
The most successful technologies were small, cheap/free & fast paced.

-analog phones to skype-conversation
-posting letters to emails
-online stores
-social networking

Bitcoin (or crypto's) fits in this trend. 
The world is simply becoming a 'smaller' place.

 

[lynn_402]

I believe in the success of crypto-currencies.
There's place for it in our society.
Since the dawn of the internet and digital revolution our society has become more access-able.
Everything is being digitalized.
The most successful technologies were small, cheap/free & fast paced.

-analog phones to skype-conversation
-posting letters to emails
-online stores
-social networking

Bitcoin (or crypto's) fits in this trend. 
The world is simply becoming a 'smaller' place.

 

Small and cheap? Look at KNC's huge Bitcoin mining warehouse: http://imgur.com/a/CcIhX#bUjVX6g
I do agree with the rest of your post though

[sshapiroNJ]

I'd say past. Too many got burned using them. After all these years you still can't do much with bitcoins, nothing will radically change

[Beliathon]

bitcoin is the precursor to true democracy and democratic world government
 leading to a new era of world utopia
thats my dream

Mankind now stands at the crossroads between heaven and hell. If we cling to the nationalistic, dividing traditions of our past, we will not survive this century. We will descend into a war from which we will never emerge.

If, on the other hand, we embrace humanity with all its flaws, reject the myths and lies which conceal from us the truth of human nature, a paradise awaits...

The internet is a powerful compass for truth, we need only use it to its fullest potential.

[TooDumbForBitcoin]

yes

[BADecker]

Here's a legal money "device" that might determine the lastingness of Bitcoin. It's called "Accepted for Value."

Accepted for Value has a bit of a story behind it. It has to do with the fact that in the United States, we are not under the Constitution directly. We are under administrative rule via the District of Columbia "state." Because of this, the courts and the legal system are all accessed by us through acceptance. That is, if we don't accept their authority, and if we let them know it properly, they don't have any authority over us.

In addition, because of the U.S. bankruptcy of 1933, there isn't any money. Fiat currency is not money. This means that we can't pay off any of the money debts that we incur.

Since fiat "money" comes into existence through the signature of the borrower, the presentment of a "bill" to the borrower by the lender can be converted into a money order for full payment of the loan. It's a bit of a story.

Because of the above, one of two scenarios will probably be played out in the near future.

A. People will start to use the "Accepted for Value" method to pay their debts out of thin air, just like fiat is created by the people out of thin air. The whole fiat system will revert back to a REAL VALUE system among the people, and Bitcoin won't be needed any longer.

B. The bankers will realize what the people are doing and will crash their own fiat system. In this instance, Bitcoin just might be the thing to take over for the people until a REAL VALUE system is set in place again.

For more info Google: "accepted for value" or "Doug Riddle" or "Winston Shrout" or any combination of these, and see the below links:

https://bitcointalk.org/index.php?topic=575782.msg6320271#msg6320271

http://youhavetheright.com/home/

http://youhavetheright.com/teachers/doug-riddle/

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

or search Youtube on the words: "accepted for value."

[crunchynut]

... and it doesn't make it easier for bitcoin that there are too many weird people behind it now, tinfoil hatters and "here this youtube video clearly shows that the zombie apocalypse is inevitable" ...

[bitsmichel]

past. after all these years you still can't do much with bitcoins, and with all the scams and up and downs, i doubt that there are many non-bitcoiners left that will buy the fairy tale of "everybody getting rich". too many got burned. maybe, with some major events that make nice news stories it's good for another pump, but it will proceed to fail horribly in making itself useful in a normal person's daily life.

you think the people in dubai are crazy to buy 400 bitcoin atms?