Do you sometimes think Bitcoin will fail?

[Harley997]

I'd be very surprised if bitcoin failed, but if it did fail, it will not be for the op's reasons. It will solely be due to strong opposition from the international bankers and the 1% of the population who holds 99% of the money. They could easily pay off governments to ban bitcoin, or they could put millions of dollars into ads that brainwash the sheeple into staying away from bitcoin.

This would be the most logical possibility.

It is very difficult if not impossible to control what other people think (although social media can come very close to doing just that).

The "1%" do not need or want the status quo to stay the same as far as how money is used and measured. The very rich can easily adapt (more so then most everyone else) and is willing to take risks (on things like bitcoin)

[Novelty -]

I am normally optimistic, but not in a good mood right now.
BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah...
Do you sometimes think Bitcoin will fail?

Please be honest, that's all.


Edit:
Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long
The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!!  

Conf times take way to long these days
Impossible to get things dome in a timely manner

[bbit]

the #1 problem with bitcoin is basically nobody spends it.

[jubalix]

If you can appreciate that magnitude of the break through that BTC is, no.

BTC has nothing even close to like it in recorded history. For the first time you have unseazble wealth.

BTC is a new way you can reorder humanity and the world, that simply was not available before in any shape or from.

Did email fail? No, the interface merely changed.

The Concept of bitcoin will not fail, eg viable cryptos, even if BTC did itself.

BTC itself can fork, so it can adopt anything it needs to.

[mercistheman]

Gotta luv all the nay sayers... seems like a fine time to buy... thank you very much 

[QuestionAuthority]

I wonder where the old smart members are? They dont seem to post anymore.

So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30).

Its amusing that the noobs seem to be more optimistic about bitcoin.

The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree.

Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact.

Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember?

I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails.

And what makes you think the noobs dont know jack about btc? lol ...

Their posts. ROFL

[albus]

No amount of money is ever worth a human life.

well, in this world, that depends on which side of the gun you are...

[lihuajkl]

the #1 problem with bitcoin is basically nobody spends it.

BTC is decerntralized cryptocurrency. But 1% of the population holds 99% of the money. It is not fair for 99% of population who have to pay the equivalent amount of fiat for BTC at the exchange. It is the 1% of population who is a member of the co-founder or grab extensive mining rigs. They will scoop great profit from the holding of BTC unfairly. 

[seriouscoin]

I wonder where the old smart members are? They dont seem to post anymore.

So far i see noobs, one sore loser in mining game (joined when btc was at peak, hoping to "print" money without knowing jack about economic) and a senior who lost money in "trading" (whos been whining about other early adopters making money, i bet he sold all his btc below $30).

Its amusing that the noobs seem to be more optimistic about bitcoin.

The old smart hero members left, probably broke, because they lost it to some early scam like, GLBSE, Pirate and the BS&T passthroughs, Bitcoinica, MyBitcoin, the SR seizure, Linode, Bitfloor, Bitomat and others. If you were Allinvain and lost 25,000 btc would you still be hangin out here? I know I'd probably be hanging from a tree.

Doesn't it make sense that noobs would be more optimistic? They don't really know shit about Bitcoin and their anal sphincters are still intact.

Then you're dumb as a rock. 25k btc back then was barely worth your life. Hindsight 20/20 remember?

I dont blame the victims but ofcourse i expect to see frauds and scams b4 btc can be mature. If btc cant survive those scams, btc already fails.

And what makes you think the noobs dont know jack about btc? lol ...

Their posts. ROFL

And do your posts say about you knowing jack shit? Fuck no.

At least with noobs, its reasonable to see.

[Light]

the #1 problem with bitcoin is basically nobody spends it.

BTC is decerntralized cryptocurrency. But 1% of the population holds 99% of the money. It is not fair for 99% of population who have to pay the equivalent amount of fiat for BTC at the exchange. It is the 1% of population who is a member of the co-founder or grab extensive mining rigs. They will scoop great profit from the holding of BTC unfairly. 

You can hardly argue that it is unfair considering most of the early adopters shaped much of what we have today and without them we wouldn't have Bitcoin in the first place. As a result of their contribution the have been rewarded by having earned a large amount of wealth from this. It's like saying that it's unfair for Bill Gates to be so rich as he was one of the few to make personal computing accessible. He simply has earned his just desserts for contributing what society believes to be a very valuable contribution.

[IamCANADIAN013]

Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail.

Then there is the fact that the central banks are so powerful that they could crush it like a bug.  Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore.

I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there.

[seriouscoin]

Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail.

Then there is the fact that the central banks are so powerful that they could crush it like a bug.  Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore.

I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there.

There are 2 types of haters:

+ The noobs who suffer the sour grapes symptoms : http://www.urbandictionary.com/define.php?term=Sour+Grapes

"In an old fable by Aesop, a hungry fox noticed a bunch of juicy grapes hanging from a vine. After several failed attempts to reach the grapes, the fox gave up and insisted that he didn't want them anyway because they were probably sour. "


+ The senior members who lost money/potential profits thro exchange scams or bad trading. Most of them never believe or understand the economic aspect of bitcoin. Now they cant afford to buy in and they're posting FUDs out of bitterness.

[jc01480]

Bitcoin fail?  No.  You, maybe?  Yes.

[albus]

Depends on what day and what mood I'm in, LOL! Sadly, it looks like there are far more people that want it to fail, than prosper, and for no real reason. Except for the fact they like to see something fail.

Then there is the fact that the central banks are so powerful that they could crush it like a bug.  Someday, I think that it can't be crushed because it's taken off too far to kill it completely. Personally, I don't know anymore.

I want to support bitcoin, but these days it doesn't keep the lights on. I can make more money investing in the stock market than I can with bitcoin these days. i will continue to mine on a small scale and hold my coin in the hope that it will one day take off, but for now, there are better investments out there.

There are 2 types of haters:

+ The noobs who suffer the sour grapes symptoms : http://www.urbandictionary.com/define.php?term=Sour+Grapes

"In an old fable by Aesop, a hungry fox noticed a bunch of juicy grapes hanging from a vine. After several failed attempts to reach the grapes, the fox gave up and insisted that he didn't want them anyway because they were probably sour. "


+ The senior members who lost money/potential profits thro exchange scams or bad trading. Most of them never believe or understand the economic aspect of bitcoin. Now they cant afford to buy in and they're posting FUDs out of bitterness.

does the angry latecomer comes into the sour grapes noob category ?

[smashingpumpkin]

Bitcoin has a long long way to go. Of course it might fail,but not in the near future, im sure.

[RomertL]

I believe enough in Bitcoin to convert all fiat I don't need to Bitcoin, but I don't do bank loans or selling everything valuable I have to buy more. In the long run I'm not at all worried about it being too complicated for non techies or too hard to understand (anyone old enough to remember internet in its early days or ms Dos?). Governments and banksters can do a lot of harm, but I'm confident Bitcoin will win in the long run. The only thing I'm a little bit worried about long term is a better crypto and 51% attacks.

[Beliathon]

No amount of money is ever worth a human life.

well, in this world, that depends on which side of the gun you are...

That's precisely the problem.

Think for a moment about the long-view evolution of our weapons. In the beginning, there were only melee weapons - basically extensions of the human arm. Stone, bone, and wooden clubs. With these tools, you really couldn't kill more than one person at a time.

It couldn't have been long before some clever fellow sharpened a stick, throw it real hard, and realized (s)he could kill effectively at 10-15 feet instead of just 2-3 by throwing that spear instead of thrusting it. Much later we invented slings and bows, multiplying our effective killing and disabling range exponentially, from 15-20 feet to 50+. But these tools were greatly limited by ammo. How many arrows could one person reasonably carry? How many stones for a sling? These things had weight, and thus one person was limited to being able to kill perhaps 20-40 other people at range before running out of ammo. Still with me?

Now flash forward to the modern era. The gun changed everything. Hundreds of bullets can easily be carried, the range is far greater, the kinetic energy exponentially greater, and the weapon requires far less skill to use effectively than a bow and arrow or a sling. To say nothing of the horror of explosives, the modern gun enables one person to kill hundreds within minutes. Flash forward again, to the next evolution of weaponry. What will the weapon of the future look like? You probably think of a highly advanced gun, perhaps shooting energy beams of some sort. But you'd be wrong - dead wrong. If we continue down this path of evolving our murder-tools at the cutting edge of technology, the logical conclusion is not some cool energy gun. What sorts of killing tools do you think the age of nanotechnology and true general A.I. will bring?

The logical conclusion is a device similar in size and usability to an iPhone, where one can push a button and the weapon intelligently and instantly kills everyone around you in a 1,000 foot radius. To say nothing of home-brewed biological weapons...

Think carefully now, do you still want to live in a world governed by violence when technology has put this kind of weaponry into our hands? It's closer than you think.



Humanity now stands at the crossroads between reason and annihilation. We must abandon all forms of organization that rely on systemic violence, or we must abandon all hope.

[Squidoogeek]

I think it can fail, but only if either people get arrogant in the same way that people were during the "Roaring Twenties" when stock kept going up and life was good until banks started to fail and some cautious investors sold their stocks, OR, everybody panics at the first sign of negative news and decides to sell their Bitcoin at once, and then Bitcoin never really recovers. But I think the IDEA behind Bitcoin will still be there and you can be sure that there are other altcoins that could potentially take over if Bitcon fails.

[keithers]

I don't think it is possible for it to fail completely at this point.  The invention/technology will forever be built upon.   BTC in it's current state could fall potentially, but even then it would come back in a different form. 

[ThomasCrowne]

Personally I think most people buying bitcoin at this point are long-term speculative.  Sure, there seems to be a few fat bag holders out there manipulating the price(s) quite a bit but I imagine as more and more of those coins get into the hands of long-term investors their overall influence will hopefully decrease.