Do you sometimes think Bitcoin will fail?

[Harley997]

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.

Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this.

[VeroPossumus]

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

But before nobody would accept it and now the situation gets better. There is a bonch of things that now can be bought with Bitcoin, so i think people will finally start spending.

[albus]

Its an experiment, and I feel like we've already won, in terms of changing everything we know about finance

when do you think we will go out of beta, bitcoin v1.0 ?

[KimNam]

YES
bitcoin price is too speculative, you can become rich man if prices skyrocketing, but there's also possibilty bitcoin prices will crash and you lost your money here
that's why i don't put all / majority of my investments in BTC, maximum only 10%
and sometimes i think bitcoin is like "pink sheet stocks", not huge market cap and easy to manipulate

[Light]

Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this.

Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin.

[KimNam]

Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this.

Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin.

you are not early adopter, Light?
i see your join date was in 2010

early adopters will very rich for now, if they still save their coin until now (or last rise in dec 2013)

[albus]

Over time the early adopters will sell their coins to newcomers for a profit. The higher the price of bitcoin goes the more of an incentive the early adopters will have to do this.

Yeah and the price will respond accordingly with the shifting supply. While I do agree that early adopters may have too many coins, one can hardly argue that they don't deserve some reward for being the people willing to take a risk with Bitcoin.

quite true, and quite often they spend those early bitcoins to start new bitcoin businesses

[theecoinomist]

The more you wait for confirmations the more is secure the transaction, it's your choice how long you want to wait.

if you go to coffee shop, the longer you wait, the colder you coffee becomes.

I don't know how things work in your country but where I leave, we sit down, make an order, we get our order and spend let's say an hour there and then ask for the bill.
If you ask for the bill earlier then you are all good  

EDIT: if you want faster transactions then you have to trust a third party service.
Sorry, that's how it goes when it comes to BTC

Bitcoin processors accept payment at 0 confirmations, you should not wait more than a few seconds..

[monim1]

Normally i don't think like this but sometimes i think that BTC may could fall. I think like this because a lot countries bann BTC. This is the only reason why i think like this.

[ChiefTime]

Nothing lasts forever, but BTC has very good decentralization based foundation that will help it not to fail in the near future

[jbreher]

the modern gun enables one person to kill hundreds within minutes.

Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes, then I'll just categorize that as hyperbole.

Yes, advancements in technology have enabled us to project force at a distance. However, along with the peril, this has also brought a social good. The gun is the first tool mankind has had that has enabled the weak and the infirm to defend themselves on an equal footing to their aggressors.

"God made man, Samuel Colt made them equals"

[Bit_Happy]

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.

...

Thanks everyone for your positive and negative responses:
"I am normally optimistic"....and this topic was started on a rare bad day.
Someday I will probably read this thread, but not today. 

[Beliathon]

the modern gun enables one person to kill hundreds within minutes.

Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes

Normandy, D-day, World War II. Any other questions?

[jbreher]

the modern gun enables one person to kill hundreds within minutes.

Unless you can reference a single instance where it has actually happened that a single gunman has killed hundreds within minutes

Normandy, D-day, World War II. Any other questions?

Reference?

[Light]

you are not early adopter, Light?
i see your join date was in 2010

early adopters will very rich for now, if they still save their coin until now (or last rise in dec 2013)

Haha, sadly not. I didn't buy very much till late last year, so I'm pretty much in the same boat as nearly everyone else. I was interested in it early on, but didn't really think it would get very far so I didn't buy any or mine that much. Then I took a hiatus and came back last year and the rest is history.

Yeah, most of them who managed to mine a crap ton will be sitting pretty right now. I swear they were already pretty pleased when we hit $30 and $100 respectively.

[Denise520]

At present, I'm in a good mood.

[Justin00]

I agree with everything you said minus the bad media.
All though I suppose most people might associate bitcoin with illegal stuff and silk road.

Still though, its hard for most people to understand.. How the hole network works, tx/rx etc.

I wonder if alot of people download the client and have no BTC so they just get bored and uninstall.

but yeah confirm time is possibly going to be a killer for any instant items, coffee, food etc.

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!!  

[Timmmaahh]

YES
bitcoin price is too speculative, you can become rich man if prices skyrocketing, but there's also possibilty bitcoin prices will crash and you lost your money here
that's why i don't put all / majority of my investments in BTC, maximum only 10%
and sometimes i think bitcoin is like "pink sheet stocks", not huge market cap and easy to manipulate

Simply invest money you don't fear to lose, then you're fine.

Bitcoin is an awesome experiment and i guess it will change people's mind about our finance system.. but we'll see

[Timmmaahh]

I agree with everything you said minus the bad media.
All though I suppose most people might associate bitcoin with illegal stuff and silk road.

Still though, its hard for most people to understand.. How the hole network works, tx/rx etc.

I wonder if alot of people download the client and have no BTC so they just get bored and uninstall.

but yeah confirm time is possibly going to be a killer for any instant items, coffee, food etc.

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!!  

Do you really need confirmations to buy a coffee or something like that?
I'm sure for transactions over 1000$ you need some sort of proof, but even with 3 confirmations your quite save and it'll take average of 30 mins... which is in case of wire transfer highspeed...

[AdamSmith]

In light of recent events, if people still do not believe bitcoin is starting to be accepted by maintream, I do not think this group of people can be convinced with more evidence.