Bitcoin will be bigger than Facebook

[PowerCordZ]

There is no comparison between bitcoin and facebook. Both are totally different things.

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[Nawaytes]

There is no comparison between bitcoin and facebook. Both are totally different things.

that's right,
Facebook is a social network and bitcoin e-currency that is a different matter,
and may indeed want to compare, the comparison is its user network,
if so, even now bitcoin network larger than Facebook.

[Mars not Moon]

I read the article but I am still confused if in reality this will actually happen or not. Nevertheless, a good sign for bitcoin past investors.

[ariyaromadhona]

Comparing Cryptocurency to Social media ? ..

i dont think so .. event the popularity .. i think Bitcoin will never bigger than FB

[Damnyo]

FB will be a footnote in history as a temporary social fad for kids, gossips, exhibitionists and sundry show-offs. It is a simple server-client web app and some code for farming data from idiotic sheeple who can't see through the con.

It is not even in the same league as Bitcoin which is a revolution in the fundamental technology used for the efficient functioning of markets, economies and resource allocation.

This legendary gentleman is spitting knowledg right there.

FB = another shitty myspace
BTC = a technological milestone

[DooMAD]

FB will be a footnote in history as a temporary social fad for kids, gossips, exhibitionists and sundry show-offs. It is a simple server-client web app and some code for farming data from idiotic sheeple who can't see through the con.

It is not even in the same league as Bitcoin which is a revolution in the fundamental technology used for the efficient functioning of markets, economies and resource allocation.

Even if it is just a tool for harvesting data for big business, it's still useful.  I'd be hopeless at organising my social life without events reminding me where and when I'm supposed to be somewhere.  Even though it essentially serves as a glorified calendar and somewhere to put photos up, it's too convenient for me not to use.  Convenience is something people should never fail to underestimate the importance of.  While BTC is certainly revolutionary, it's still not all that convenient for people to obtain and that will need to change before mass adoption occurs.

[airpline1]

Winklevoss twins: Bitcoin will be bigger than Facebook. The brothers, two of the most influential players in a new generation of investors, say bitcoin will encourage financial openness.

http://www.ahametals.com/bitcoin-bigger-than-facebook/

Weird, Facebook is social, and Bitcoin is crypto, but hearing that its going to be bigger kind of excites me and also make me uncomfortable.

[marcus_of_augustus]

FB will be a footnote in history as a temporary social fad for kids, gossips, exhibitionists and sundry show-offs. It is a simple server-client web app and some code for farming data from idiotic sheeple who can't see through the con.

It is not even in the same league as Bitcoin which is a revolution in the fundamental technology used for the efficient functioning of markets, economies and resource allocation.

Even if it is just a tool for harvesting data for big business, it's still useful.  I'd be hopeless at organising my social life without events reminding me where and when I'm supposed to be somewhere.  Even though it essentially serves as a glorified calendar and somewhere to put photos up, it's too convenient for me not to use.  Convenience is something people should never fail to underestimate the importance of.  While BTC is certainly revolutionary, it's still not all that convenient for people to obtain and that will need to change before mass adoption occurs.

Not "inconvenient" when your savings lose value or disappear altogether in a banking bust?

[Snorek]

Facebook is invigilation tool used only by sheeps. Bitcoin is already bigger that this. Aso comparing facebook to digital currency is like comparing mobile phone with fork. Both are usable but in different way...

[azguard]

On popularity this is a contest.
Only BTC rise so height that we can follow every step now.
FB is on hold yes but more and more people are talking about cryptos in real life then take FB likes or stuff.

Cryptos rise every second so you can imagine what will happen in near future

[DDuckworth]

I highly doubt BTC will have more users than FB>..because FB is used by everyone from kids to teens, adults and aged. And not everyone wants to use BTC

What about the likelihood of bitcoin replacing every currency in the world though?  At that point, even allowances would be given in bitcoin.

It would take a lot for bitcoin to potentially replace any fiat based currency that exists today, let along every fiat based currency. It really would not be able to replace currencies like the dollar, euro, british pound or the yen because their governments are so influential worldwide and would likely not accept anything other then their own local currency for payment of taxes.

But if everyone stopped using the fiat the government's own money would be useless, it wouldn't be accepted by others because nobody would be paid in it.  What do governments use taxes for, police, war, firefighters, infrastructure etc.

So let's say all of these workers are only using bitcoin, well the government can't pay them because they won't take it, it's worthless.  The government is already attempting to impose taxes upon BTC, why wouldn't you think they'll succeed?  Once they do I am pretty sure they won't care what money we use - the problem is the banks themselves who have the control over our government at the moment.

The government has too much influence for this to be possible. In order for a movement like the one you describe to potentially be successful the people demanding to be paid in bitcoin must be willing to work elsewhere if they will not be paid in bitcoin. The problem is that there is little to no demand for this kind of work outside of the government. So these people would not have the skills to work a a job that would pay them for their potential because they would not be able to utilize all their skills.

I don't think it would be a demanding sort of situation where they say up front "PAY US IN BITCOIN." I think it would be much more gradual, something like this.

1. Slowly bitcoin becomes accepted everywhere, much like a credit card.
2. People start to realize bitcoin is easier and safer than credit cards (which at current it isn't easier, but by then it will be)
3. Some businesses start to offer bitcoin as an alternative method of payment (some already have started this)
4. All business offer bitcoin as an alternative choice
5. Slowly fiat as a source of pay is no longer an option at some businesses
6. Eventually once less than 10% of the population is taking their pay in fiat, BTC will become standard pay at all junctures
7. Governments will be paying out in bitcoin because they need to compete to keep a workforce employed.

This change would probably kick off once step 1 was complete, and a company springs up that offers to convert your paycheck to BTC instantly upon arrival but they'll take a cut as the service, this will cause employees to ask their place of business to do it directly since they don't want to pay a 1% fee on every paycheck just to have it in the common currency.

I'm not saying this is likely, but very possible.

Bitcoin will not ever be safer then using credit cards for consumers. Credit cards offer many consumer protections that protect them in the event they get ripped off. Bitcoin does not have this, the fact that bitcoin transactions are not reversible is one of it's selling points. What will get bitcoin to continue to grow is that fact that it is cheaper then credit cards and other payment methods.

I am sure that many companies will probably spring up offering up "bitcoin insurance" which essentially will protect your purchases, much in the same way paypal offers.  They may end up being vile, wretched companies, or they may end up being the best thing ever.  But one way or another I am sure they'll exist sooner or later.

[botany]

There is no comparison between bitcoin and facebook. Both are totally different things.

that's right,
Facebook is a social network and bitcoin e-currency that is a different matter,
and may indeed want to compare, the comparison is its user network,
if so, even now bitcoin network larger than Facebook.

How is the bitcoin network larger than Facebook?

[DooMAD]

FB will be a footnote in history as a temporary social fad for kids, gossips, exhibitionists and sundry show-offs. It is a simple server-client web app and some code for farming data from idiotic sheeple who can't see through the con.

It is not even in the same league as Bitcoin which is a revolution in the fundamental technology used for the efficient functioning of markets, economies and resource allocation.

Even if it is just a tool for harvesting data for big business, it's still useful.  I'd be hopeless at organising my social life without events reminding me where and when I'm supposed to be somewhere.  Even though it essentially serves as a glorified calendar and somewhere to put photos up, it's too convenient for me not to use.  Convenience is something people should never fail to underestimate the importance of.  While BTC is certainly revolutionary, it's still not all that convenient for people to obtain and that will need to change before mass adoption occurs.

Not "inconvenient" when your savings lose value or disappear altogether in a banking bust?

I get that part, but the general populace out there clearly don't understand that yet.  The point I'm getting at, though, is if you don't know someone willing to sell you some BTC, it's not exactly the easiest thing in the world to get hold of.  Articles like this one probably explain it better than I am.  Obviously there's LocalBitcoins.com and ATMs in certain places, but it's still not exactly what you'd call convenient yet.  People for the most part are quite lazy and won't go out of their way to try something new.  Maybe a banking bust would give them the incentive they need, but let's not rely on that outcome to be the driving force behind adoption.

[wasserman99]

I highly doubt BTC will have more users than FB>..because FB is used by everyone from kids to teens, adults and aged. And not everyone wants to use BTC

What about the likelihood of bitcoin replacing every currency in the world though?  At that point, even allowances would be given in bitcoin.

It would take a lot for bitcoin to potentially replace any fiat based currency that exists today, let along every fiat based currency. It really would not be able to replace currencies like the dollar, euro, british pound or the yen because their governments are so influential worldwide and would likely not accept anything other then their own local currency for payment of taxes.

But if everyone stopped using the fiat the government's own money would be useless, it wouldn't be accepted by others because nobody would be paid in it.  What do governments use taxes for, police, war, firefighters, infrastructure etc.

So let's say all of these workers are only using bitcoin, well the government can't pay them because they won't take it, it's worthless.  The government is already attempting to impose taxes upon BTC, why wouldn't you think they'll succeed?  Once they do I am pretty sure they won't care what money we use - the problem is the banks themselves who have the control over our government at the moment.

The government has too much influence for this to be possible. In order for a movement like the one you describe to potentially be successful the people demanding to be paid in bitcoin must be willing to work elsewhere if they will not be paid in bitcoin. The problem is that there is little to no demand for this kind of work outside of the government. So these people would not have the skills to work a a job that would pay them for their potential because they would not be able to utilize all their skills.

I don't think it would be a demanding sort of situation where they say up front "PAY US IN BITCOIN." I think it would be much more gradual, something like this.

1. Slowly bitcoin becomes accepted everywhere, much like a credit card.
2. People start to realize bitcoin is easier and safer than credit cards (which at current it isn't easier, but by then it will be)
3. Some businesses start to offer bitcoin as an alternative method of payment (some already have started this)
4. All business offer bitcoin as an alternative choice
5. Slowly fiat as a source of pay is no longer an option at some businesses
6. Eventually once less than 10% of the population is taking their pay in fiat, BTC will become standard pay at all junctures
7. Governments will be paying out in bitcoin because they need to compete to keep a workforce employed.

This change would probably kick off once step 1 was complete, and a company springs up that offers to convert your paycheck to BTC instantly upon arrival but they'll take a cut as the service, this will cause employees to ask their place of business to do it directly since they don't want to pay a 1% fee on every paycheck just to have it in the common currency.

I'm not saying this is likely, but very possible.

Bitcoin will not ever be safer then using credit cards for consumers. Credit cards offer many consumer protections that protect them in the event they get ripped off. Bitcoin does not have this, the fact that bitcoin transactions are not reversible is one of it's selling points. What will get bitcoin to continue to grow is that fact that it is cheaper then credit cards and other payment methods.

I am sure that many companies will probably spring up offering up "bitcoin insurance" which essentially will protect your purchases, much in the same way paypal offers.  They may end up being vile, wretched companies, or they may end up being the best thing ever.  But one way or another I am sure they'll exist sooner or later.

I don't think this would be a viable business option. It would be too easy to collude with the seller/counter-party the insurance company is insuring losses against to scam the insurance company.

I am not 100% sure on this but I believe that paypal will only reimburse the buyer in the event they can recover funds from the seller. Regardless if this is accurate or not, paypal has a lot of ways they can recover funds from a scamming seller while an insurance company would not.

[TimeWatch]

Read the article but I doubt investors are still ready to risk their money for BTC, they would better go for FB as its going very very fast...but in future maybe.

[BitcoinBadger]

Bitcoin will be bigger than FB only if large number of investors are convinced about idea behind bitcoin and speculations etc.

Other than that, no way it will happen.

[Timetwister]

Bigger in what sense? It's of course much more useful for people, it's amazing how many advantages Bitcoin have over fiat. Facebook is mainly just a waste of time...

[The Great Gatsby]

Bitcoin will be as big as the internet, or even bigger old sport.

[Winner]

The name Bitcoin might become bigger than facebook but the people that invest in it might drop some because of the volatility of the market.

[tzortz]

Apples to oranges comparison.