Bitcoin will be bigger than Facebook

[Cream]

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

[Nagle]

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/

Remember, the Winklevii are trying to set up an ETF so they can dump their Bitcoins. They need to find enough suckers.

[itsAj]

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/

Remember, the Winklevii are trying to set up an ETF so they can dump their Bitcoins. They need to find enough suckers.

I don't think hey are trying to dump their bitcoin. I think they are trying to profit off of bitcoin. They will obviously sell a portion of their bitcoin when the ETF starts trading, but I think they hope to be able to make most of their money from the fee that the ETF charges it's holders (the management fee). I would also not be surprised if a fee what charged anytime that an AP exchanges the ETF for BTC or BTC for the ETF.

[trader001]

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/

Remember, the Winklevii are trying to set up an ETF so they can dump their Bitcoins. They need to find enough suckers.

I don't think hey are trying to dump their bitcoin. I think they are trying to profit off of bitcoin. They will obviously sell a portion of their bitcoin when the ETF starts trading, but I think they hope to be able to make most of their money from the fee that the ETF charges it's holders (the management fee). I would also not be surprised if a fee what charged anytime that an AP exchanges the ETF for BTC or BTC for the ETF.

ETF fee is normally 1-2%. Doubt they can charge more than this.

Kind of make me wonder, why they want to go thru so much trouble to make 1-2% a year. There are other way to make more money easily.

[Onetallnerd]

Shouldn't you be glad that they are "dumping" I'd rather them not hold too many.

[valvalis]

I don't know why you are comparing bitcoin with facebook.
This is really different thing. It's like you are comparing Computer with Panties.

[blablaace]

how can you at all compare social network with currency 

[Picasso7]

What is facebook ?

[Picasso7]

how can you at all compare social network with currency 

agree 

[Hasher99]

Are you comparing users or investors? I think BTC can beat FB in investors but not users )

[mercistheman]

The stars are aligning... the infrastructure is well established... governments are starting to understand that a heavy hand will leave them behind.
It was a fad... now it's a trend.

[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.

[botany]

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/

Remember, the Winklevii are trying to set up an ETF so they can dump their Bitcoins. They need to find enough suckers.

I don't think hey are trying to dump their bitcoin. I think they are trying to profit off of bitcoin. They will obviously sell a portion of their bitcoin when the ETF starts trading, but I think they hope to be able to make most of their money from the fee that the ETF charges it's holders (the management fee). I would also not be surprised if a fee what charged anytime that an AP exchanges the ETF for BTC or BTC for the ETF.

ETF fee is normally 1-2%. Doubt they can charge more than this.

Kind of make me wonder, why they want to go thru so much trouble to make 1-2% a year. There are other way to make more money easily.

1-2% on the money others invest. Not their money. 

[itsAj]

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.

[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.

[itsAj]

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.

[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.

[BIT-Sharon]

Essentially, just as HTTP or Bittorrent, Bitcoin is an agreement based on Internet, an invention by genius. It is also based on Internet and makes impossible things to be possible. On the scale, I believe it can come to that of Facebook. On the number of users, I think it will be equal to that of Facebook one day.

[pajrinn]

Bitcoin cant be bigger than facebook .

Just like a USD are not the biggest in the whole world .

yes I think so with you 
imposibble  ?

[catlinhappy]

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/

Making a comparism between the two is rather very hilarious.