If bitcoin ever goes mainstream

[Trading]

More on the russian regulations banning bitcoin, under a penalty of 4 years in prison:

https://www.cryptocoinsnews.com/russian-finance-ministry-proposes-a-4-yr-prison-sentence-for-bitcoin-users/

One of the reasons stated is that bitcoin is "speculative" and carries a "high risk of changes in its value".

Therefore, let's protect people against their will and put them in jail for 4 years, even if they didn't launder money or trade in illegal goods.

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[Djisamsoe]

CNBC Interview with Elvira Nabiullina - Russia Central Bank Governor:

Geoff Cutmore (CNBC): I understand you have been looking at bitcoin, can you see a time in the near future where you may be looking to hold any reserves of bitcoin or you might authorize the use of bitcoin in Russia as a legitimate currency of exchange?

Elvira Nabiullina: So far I can't imagine a situation where bitcoins would be considered a reserve currency but we are looking at how this market is developing, we are noting certain risks there and we've informed the market players that we identify these risks and because there are(inaudible) many representatives in that particular sector that could be resorted to some dubious operations and transactions. You know the kind of policy we conduct about dubious transactions, but we are watching over the development of this market and see that for consumers there are certain attractions in bitcoin's mobility, expediency, low cost, so this is something definitely the market will be welcoming so we will be watching with attention and, if necessary, regulate it.

Here is all interview: http://www.cnbc.com/2015/06/18/cnbc-interview-russia-central-bank-governor-elvira-nabiullina.html

I can see there hope for Russia. 
Bitcoin have to go to mainstream! It is just metter of time..

[Trading]

Things are not decided, indeed there are people supporting bitcoin in Russia, even Putin said something positive a few months ago. The regulation I mentioned is just a proposal.

[Trading]

More bad news to bitcoin. These are not really new, we already knew or suspected that the "islamic state" was using bitcoin. But this is more bad press and there is always the risk that these news provoke repressive measures from governments.

The problem isn't the funding (they have many other sources), the problem is that bitcoin is almost anonymous, hard to stop and fast. Therefore, they can get the funding from other sources, but use it to buy bitcoins and send them to their members abroad.

http://www.dw.com/en/bitcoin-islamic-states-online-currency-venture/a-18724856

http://www.newsbtc.com/2015/11/14/isil-militants-linked-to-france-terrorist-attacks-had-a-bitcoin-address-with-3-million-dollars/

https://bitcointalk.org/index.php?topic=1252770.0

[cellard]

More bad news to bitcoin. These are not really new, we already knew or suspected that the "islamic state" was using bitcoin. But this is more bad press and there is always the risk that these news provoke repressive measures from governments.

The problem isn't the funding (they have many other sources), the problem is that bitcoin is almost anonymous, hard to stop and fast. Therefore, they can get the funding from other sources, but use it to buy bitcoins and send them to their members abroad.

http://www.dw.com/en/bitcoin-islamic-states-online-currency-venture/a-18724856

http://www.newsbtc.com/2015/11/14/isil-militants-linked-to-france-terrorist-attacks-had-a-bitcoin-address-with-3-million-dollars/

https://bitcointalk.org/index.php?topic=1252770.0

This was meant to happen but im not worried. When the internet started, it was always on the press about how the internet was something really creepy for criminals and pornographers to share their stuff, but as we know today, the internet was a invaluable too for makind. With Bitcoin it will be the same, so get in before its cheap (and by cheap I mean XX,XXX)

[Trading]

We have contradictory news on the reaction of authorities to the issue of the "islamic state" using bitcoin:

Reuters says that the UE is planning to adopt repressive measures:
http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119
http://www.businessinsider.com/r-eu-clamps-down-on-bitcoin-anonymous-payments-to-curb-terrorism-funding-2015-11


But, yesterday, the UK government said that "There is little evidence to indicate that the use of digital currencies has been adopted by criminals involved in terrorist financing, whether as a means by which to raise funds (crowd funding etc.), to pay for infrastructure (e.g. server rental), or to transfer funds."
https://www.coindesk.com/uk-treasury-digital-currencies-low-money-laundering-risk/

Another brits-continentals dispute also on this issue? This time, let's hope the brits will win.

[makcik]

Really? Are you serious?
If bitcoins ever go mainstream, one of my dreams will be accomplished. Bitcoins really deserve to be mainstream, and here's what I think will happen when they become mainstream.
(1) Least usage of fiat currencies-- Fiat? Cash? What's that? This is what people will ask as cash will be seen not at all.
(2) More technologically advanced-- People will get to use digital currencies and certainly people will be using technology more.
(3) Less corruption-- -- Money will be transferred by government to people directly. No ministers to eat in between.

[USB-S]

Really? Are you serious?
If bitcoins ever go mainstream, one of my dreams will be accomplished. Bitcoins really deserve to be mainstream, and here's what I think will happen when they become mainstream.
(1) Least usage of fiat currencies-- Fiat? Cash? What's that? This is what people will ask as cash will be seen not at all.
(2) More technologically advanced-- People will get to use digital currencies and certainly people will be using technology more.
(3) Less corruption-- -- Money will be transferred by government to people directly. No ministers to eat in between.

(3)There would be no government, at least the way that they are represented at the moment. Government structure will get overhauled completely, where the minority doesn't rule the majority. It would be the opposite. However this won't happen in the near future since government control is the highest it has been since, well forever.

(2)Majority of people are monkey see, monkey do. So they would just use bitcoin because their friends use bitcoin.

(1)Who the fuck needs fiat anyways when bitcoin's mainstream.

OT: if bitcoin ever goes mainstream, I'm going to be a small whale.

[Trading]

You should read the OP.

I love bitcoin, but running an economy on bitcoin would be a disaster (for others, the late bitcoiners, and for you, if in the meantime you sold your bitcoins).

But if bitcoin starts to be a threat to fiat, I think governmental repression will escalate. I doubt "they" will let bitcoin became mainstream. That could limit drastically their power and have some severe economic consequences. And governmental repression would scare a lot of bitcoiners, making its price drop like a stone. That could ruin miners (many would have a hard time paying electricity until the difficulty adjusted) and many of the rest of bitcoiners.

However, like gold coins haven't displaced fiat, also bitcoin might stay at the fringes of the financial system, relevant mainly online, inoffensive against fiat.

In any case, repression will take some time to be adopted. There is still time to grow and to hope.

[Blue_Tiger73]

This new world is going to require some new ways of thinking. The old ways will no longer work. The people that come up with the new ideas will be very wealthy.

The new world is going to need new things in, like new ways of paying and new things to invest in. Bitcoin will improve the world, I believe in it.

[West man]

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

[sanadas]

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

Nobody can control it if bitcoin remains an internet money even everybody tries to control it. They need the hashing power to control it.

[Amph]

I think it would be real bad for bitcoin if it goes mainstream. Every one will want to try and control it. The banks, the government and the bigger corporations.
It will eventually be the death of bitcoin.

on the other hands this current condition with low adoption is not helping, and bitcoin will not grow ever, so we must go mainstream no matter what

or you want bitcoin to be forever used by a bunch of nerd ant that's it?

only miners can control it at this point(and they are not friends...), the government need to buy tons of asic if he want to do something about controlling bitcoin

[Djisamsoe]

I think that we are witnessing the first step Bitcoin in mainstream. At this point only the US, but you know what's gonna happen shortly ..

https://www.cryptocoinsnews.com/coinbase-launches-first-bitcoin-debit-card-u-s/

[Rub3n]

Talking about mainstream?
Here check it out: http://www.arnhembitcoinstad.nl/#kaart
Thats some promotion right there.

[Trading]

Systems of payment that accept bitcoin and retailers are complaining that the number of users that pay with bitcoin hasn't increase at the expected rate. Some are expanding their accepted means of payment to overcome this:

http://www.businessinsider.com/circle-bitreserve-bitpay-struggle-lack-of-bitcoin-adoption-2015-11

[Denker]

Systems of payment that accept bitcoin and retailers are complaining that the number of users that pay with bitcoin hasn't increase at the expected rate. Some are expanding their accepted means of payment to overcome this:

http://www.businessinsider.com/circle-bitreserve-bitpay-struggle-lack-of-bitcoin-adoption-2015-11

I don't really care about those businesses.Especially Circle(funded by Goldman Sucks), and bitreserve as Uphold, which CEO said some time ago that Bitcoin will not survive the next 5 years.

Furthermore Uphold is imo just a bunch of liars.Wanna have Example?!

Latest twitter post by Anthony Watson:"We're not moving away from Bitcoin.We have been , are and will be bullish on Bitcoin".

https://twitter.com/AnthonyWatson/status/668989799013847040

And then you have to deal with this: https://medium.com/@captaincloudmoney/the-internet-of-money-is-here-c33e5af8140d#.srmi4ilv6

Because Money is information + value, and because the only way to substantiate the value of IP-based assets is via a transparently-held reserve of real assets, it follows that the venture that enables the Internet of Money will be a centralized service, a hub with billions of spokes radiating from it.

Bitcoin fails as Internet money despite being an IP-based asset, because there is no central authority backing its value. Bitcoin’s effort to remedy the abuses of banks and central banks via a trustless decentralized money system ultimately fails because bitcoin isn’t money.

Imo forget these sneaky companies!They are two-faced and don't give a sh** about Bitcoin!Ignore them!Avoid to use them!

[Trading]

The problem isn't those companies or their opinion.

The problem is the apparent fact underlying their opinion: the number of users of bitcoin hasn't grow as expected.

[richardsNY]

The problem isn't those companies or their opinion.

The problem is the apparent fact underlying their opinion: the number of users of bitcoin hasn't grow as expected.

How do you know the amount of new Bitcoin users have not increased as much as people were hoping for? Is there even a way to measure such growth?

[tom555]

percentage of the amount of the total expenses on one year. But even 1% would be huge and would imply a very high price for bitcoin. However, according to the mentioned Gresham's Law, bitcoin will be hoarded and only rarely spent.
waiting for this happen