view: bitcoin has hit its full potential

[Wekkel]

I think his points are valid that there is no "mass adoption" coming any time soon.

The greatest fear of people is: change.

Especially with something emotionally laden as 'money'. Beanie Bee must have some patience.

[1715205035]

1715205035

[1715205035]

1715205035

[NotLambchop]

@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls?

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year

...especially rel. BTC :p

[Robert Paulson]

@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls?

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

[onealfa]

Long time since I've seen a bigger BS then this OP
Full potential? now?

Bitcoin is hardly at its 0.001% of its potential
Here is how I see the future

( LOG scale charts of historic data is so  much informative)

[bustrod]

Lol, I never said no one would like to be his own bank.  You, for one, clearly do.  I'd advise against it for now, though.  For now, just focus on learning the difference between statements of fact and overbroad generalizations.

Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.


Want some overboard blanket statements?

bitcoin solves a problem that people don't have and will never have.

Most people don't want to be their own bank.

If you think people will ever want bitcoin for anything other than speculating or gambling, then you must be smoking something.

The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.

Did I suggest the inevitable demise of USD and bitcoin being our only salvation? No. Bitcoin is a tool that has the potential to assist in liberating and benefiting people everywhere, whether in economic turmoil or not.

[NotLambchop]

@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls?

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

If other countries are on to our scam $, why are they still trading with us?  You wouldn't keep lending Anon money after learning he will not (and can not) pay, would you?
Nvrmnd, you probably would

[Wilhelm]

Bitcoin will be Intercash. It will be the same as Internet is for Intranet.
It will not replace fiat but bridge the gap between countries and currencies.
Therefore it could well be the major universal fiat broker and reserve currency for this planet.

[NotLambchop]

Lol, I never said no one would like to be his own bank.  You, for one, clearly do.  I'd advise against it for now, though.  For now, just focus on learning the difference between statements of fact and overbroad generalizations.

Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.

Taking a line out of context "to illustrate a point" you knew I wasn't making?  Manipulative and dishonest
*If you do not wish to be your own bank, Bitcoin, as a payment method, is probably not for you.  I apologize for assuming you wished to take banking into your own hands, as you feel the great unwashed should.

Speculating about Bitcoin's hypothetical future advantages to the poor and teh undertrodden is fun, but those are just that--speculations ungrounded in fact.  We might as well speculate about Bitcoin's hypothetical future usefulness to our Beneficent Lizard Overlords.  Thus far, neither the poor nor Our Mighty Lizard Rulers (Long may they reign!) are flocking to Bitcoin.

On top of all that, the poor and undertrodden with smartphones, net access and laptops aren't so poor, and are likely to have better access to conventional money services.

The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.

Did I suggest the inevitable demise of USD...

No, you did not.  The intended recipient of the line you quoted did.  That's why context is so important.  Without it, easy to get confused

[Robert Paulson]

@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls?

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

If other countries are on to our scam $, why are they still trading with us?  You wouldn't keep lending Anon money after learning he will not (and can not) pay, would you?
Nvrmnd, you probably would

why did people buy .com companies with no income for billions of dollars in 1999?
how could all the experts miss the obvious observation that a website that has no income and no viable business plan is not worth anything?
why did some of the worlds biggest banks give sub-prime mortgages to deadbeats in 2007?

countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away.
considering America is completely dependent on its ability to loan money and obviously no one will loan to someone who has just defaulted on his debt,
there is no other conclusion except that the endgame for the American economy is near.
exactly when this happens depends on China, the second America upsets them those loans are gone, along with the American economy.

[novacn]

Xiaoxiao are you still holding any bitcoins?

I want to help you get rid of them - how about 1 dollar each? We both agree they aren't worth anything at all, so a dollar per BTC is quite a deal. I will even buy your satoshis! Deal?

Agreed 
I'll help in this too.

[twiifm]

@Robert Paulson:  Again, you don't understand how international commerce works.  US is not "borrowing" USD from anyone, much less yourself  
You don't think the rest of the world is trading with US and not sending collectors after us because we're loved, do you?
Srsly, go back to school or study for a GED

i understand how international commerce works perfectly fine.
the US is borrowing USD with every bond it sells.
the data is clear, the US is running a huge trade deficit on top of its already huge debt to the rest of the world.
if the world stops loaning, the US has to start printing 40 billion every month and hope that the rest of the world is stupid enough to continue accepting it as payment.

Robert Robert Robert...

You keep forgetting that we owe nothing but worthless dollars, dollars dat are "already dead," as you so poignantly pointed out.
Dollars you'll certainly agree we just print by the boatload.
Not much of a debt, amirite?

*And no, you don't understand economics.  Let me explain it to you in terms you'll understand:
1. You have lent Anon 1 BTC.
2. Annon now owes you 1 BTC.
3. Anon, as is customary in Bitcoinland, tells you he ain't got it.

Who's got whose balls?

only in this case if Anon can't borrow anymore he can't pay for any imports anymore and goes hungry.

So...
Of all the idiots running all of the governments of the world, no one has caught on to just how scammy teh US dollar is?   Only you?
'Cause US has no shortage of trade partners, so "Anon can't is borrow[ing]."
Our dollar is doing surprisingly well this year

...especially rel. BTC :p

they all caught on to it, that's why they are all working on getting rid of the USD in international trade before dumping it on the market.
https://en.wikipedia.org/wiki/New_Development_Bank

http://www.bbc.com/news/business-23020718

If other countries are on to our scam $, why are they still trading with us?  You wouldn't keep lending Anon money after learning he will not (and can not) pay, would you?
Nvrmnd, you probably would

why did people buy .com companies with no income for billions of dollars in 1999?
how could all the experts miss the obvious observation that a website that has no income and no viable business plan is not worth anything?
why did some of the worlds biggest banks give sub-prime mortgages to deadbeats in 2007?

countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away.
considering America is completely dependent on its ability to loan money and obviously no one will loan to someone who has just defaulted on his debt,
there is no other conclusion except that the endgame for the American economy is near.
exactly when this happens depends on China, the second America upsets them those loans are gone, along with the American economy.

Are you comparing bitcoin bubble to 99 tech bubble? 

[NotLambchop]

...
countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away...

But YOU understand this, Robert Paulson!
You, the clear thinker, are responsible for warning all these n00b countries about the costly mistake they're making!
Call them all, in alphabetical order, you can even call collect--ur worth it.  Just say "Mne pogovorite s El Presidente Altisimo, gospodin!  Tres importante!"--that's international politician talk, they'll instantly know what to do.  Go forth and speak your great truth, Robert Paulson!

For No man, when he hath lighted a candle, putteth it in a secret place, neither under a bushel, but on a candlestick, that they which come in may see the light.

Help us, Robert Paulson, ur r oly hop!

[nuff]

If no one wants their bitcoins please please pretty please send them to my address below to rid of your burden.

Xiaoxiao?Anyone? Guess you still want your bitcoins despite saying it's worthless huh? If you're so sure that bitcoin will go to zero you would've just left and not even care let alone writing posts after posts trying to 'save' us from financial disaster.

[pitham1]

If bitcoin has hit its full potential, why are millions of dollars being poured into bitcoin start ups by VCs?

[Xiaoxiao]

If bitcoin has hit its full potential, why are millions of dollars being poured into bitcoin start ups by VCs?

OMGGGGGG mirrons of dollars!!!!

[Gimmelfarb]

many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

[inca]

Lol, I never said no one would like to be his own bank.  You, for one, clearly do.  I'd advise against it for now, though.  For now, just focus on learning the difference between statements of fact and overbroad generalizations.

Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.

Taking a line out of context "to illustrate a point" you knew I wasn't making?  Manipulative and dishonest
*If you do not wish to be your own bank, Bitcoin, as a payment method, is probably not for you.  I apologize for assuming you wished to take banking into your own hands, as you feel the great unwashed should.

Speculating about Bitcoin's hypothetical future advantages to the poor and teh undertrodden is fun, but those are just that--speculations ungrounded in fact.  We might as well speculate about Bitcoin's hypothetical future usefulness to our Beneficent Lizard Overlords.  Thus far, neither the poor nor Our Mighty Lizard Rulers (Long may they reign!) are flocking to Bitcoin.

On top of all that, the poor and undertrodden with smartphones, net access and laptops aren't so poor, and are likely to have better access to conventional money services.

The quoted line, restored to its proper context, suggests that USD crashing to zero would be a cataclysmic event, while BTC tanking would, at worst, cause srs lulz.

Did I suggest the inevitable demise of USD...

No, you did not.  The intended recipient of the line you quoted did.  That's why context is so important.  Without it, easy to get confused

Wrong. The trend of cheap tech permeating even into deepest darkest Africa is both obvious and irreversible. Legacy banking will never penetrate into these places. Infrastructure such as roads and phonelines are absent yet mobile dumbphone use is ubiquitous. Soon cheap smartphone use will be near universal globally.

If you cannot see that whichever monetary system which can be transacted via a phone, used to store value via a phone safely backed up in the cloud then you are not looking at the big picture.

Bitcoin has existed for five years but the technology distribution to free the globe by exposure to the internet and the protocols running over it such as bitcoin is only now being realised.

It is an exciting time. Personally I think getting a bitcoin wallet app (with a memorable recoverable seed option) on every new mobile being created around the world is something the bitcoin foundation or wallet designers should be pushing really really hard. Even a Samsung wallet would be great..this will happen for sure in the next five years.

[Robert Paulson]

many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.

[Gimmelfarb]

many people in here preaching about the death of the dollar. when, pray tell, is this going to happen? i won't act like fiat money can last forever.... but things are in pretty damn good shape considering we were on the verge of a systemic collapse in 2008. i've been hearing this doomsday shit since before then as well.

the day China stops financing America and its only choice is to use the printing press.

yeah, been hearing that one forever as well. hehe, i just think it's funny, i've been hearing this same stuff for so many years now. i gave up preparing for doomsday a long time ago.... cross that bridge when we get there.... we'll see what the US military has to say about things as well (hate to say it)....

[Robert Paulson]

...
countries are not immune of making mistakes, the fact that they are making them doesn't change the facts.
its mathematically impossible for America to ever repay its debt which means that sooner or later it will either default or inflate it away...

But YOU understand this, Robert Paulson!
You, the clear thinker, are responsible for warning all these n00b countries about the costly mistake they're making!
Call them all, in alphabetical order, you can even call collect--ur worth it.  Just say "Mne pogovorite s El Presidente Altisimo, gospodin!  Tres importante!"--that's international politician talk, they'll instantly know what to do.  Go forth and speak your great truth, Robert Paulson!

For No man, when he hath lighted a candle, putteth it in a secret place, neither under a bushel, but on a candlestick, that they which come in may see the light.

Help us, Robert Paulson, ur r oly hop!

even the American government understands this, they just can't do anything about it because it requires ending socialism which will bring out the pitchforks.
http://budget.house.gov/news/documentsingle.aspx?DocumentID=387875