Ready to admit bitcoin is a failure?

[RustyNomad]

I don't think bitcoin can ever be seen as a failure even if it 'dies' out completely.

The concept itself is revolutionary and will lead to big changes in future. So even if bitcoin as it stands now fails, we are bound to see something new develop from it.

Personally I'm 100% behind it and believe that we are still in the starting blocks and that it will just gain more and more traction as we move ahead.

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[bee7]

Alarm! Bitcoin is borken. Let's dump it.

Just wonder, how it survived until now?

[bee7]

Alarm! Bitcoin is borken. Let's dump it.

Just wonder, how it survived until now?

maybe it was all dream and OP is right

we'll wake up any moment now

Although I agree that it is not ideal, it is too big now to disappear suddenly.
However, it might be that all of us are just cells in The Matrix.

[nuff]

If you can call a cryptocurrency priced at hundreds of dollars a coin failure, I can't imagine what's NOT a failure in OP's mind

[Oscilson]

If you can call a cryptocurrency priced at hundreds of dollars a coin failure, I can't imagine what's NOT a failure in OP's mind

nuff said

BTC is a success story so far.

[seriouscoin]

The OP's username looks familiar. So i checked and now i remember why i ignored him:

https://bitcointalk.org/index.php?topic=142379.0

The fcker came to this forum posting like an idiot (hijacking threads to sell btc for paypal, etc...). Hes never interested in bitcoin, he just wants to "broker" trading to make some money.

I'm surprised this dumb fck didnt leave already. Now he pretends like he cares to "fix the broken/failed bitcoin".

[borna_121136]

I think I will be ready to answer this question in 10 years when Bitcoin will be currency of the time.

[BAIDY1]

So far, bitcoin has in fact successful enough, there are so many excellent enterprises to hug her.For example: Dell, etc.

[yayayo]

Just wondering how many people are ready to admit that it isn't gonna have main stream adoption?

I want to talk about why and what can be changed to fix bitcoin, but first we have to admit there is a problem.  

I'm ready to admit anything if convincing arguments are presented that support the position in question.

So far, you did not bring up a single argument that supports your view. Regardless you pretend that you do not even need to bring up arguments, because it's not worth your time. Instead people should simply admit that your claim is right, so you can present your great theories that are based on your unproven claim.

I'd call this arrogance. What do you think?

ya.ya.yo!

[kodtycoon]

It's the decentralized thing we are talking about. Although there are groups advocating pos, i don't think we can implement it just like that. Plus not many would agree to pos. So how do we fix the decentralized issue and still maintain the hash rate

PoS coins that have a large market cap will be centralized, it is just that no one will know until way after the fact of an attack. The fact that it costs nothing to mine PoS coins means that it cost nothing to attack the network.

People say that bitcoin mining is centralized because of pools however this argument is invalid because miners can easily remove their machines from a pool that is acting in an untrustworthy way

actually you would have to buy over 51% of the coins which would cost an absolute fortune and gets more expensive the higher the marketcap. Then once you manage to get that many you have to be
Willing to degrade your 51% to a value of zero in turn losing you a shit lot of money... There's a reason there has never been a 51% attack on any pos coin but yet there have been loads done to pow coins.

[DeboraMeeks]

To say that in 5 years, something has grown 20,000% or so, i think so, is incredible, bitcoin is not ending

[vancsj]

actually you would have to buy over 51% of the coins which would cost an absolute fortune and gets more expensive the higher the marketcap. Then once you manage to get that many you have to be
Willing to degrade your 51% to a value of zero in turn losing you a shit lot of money... There's a reason there has never been a 51% attack on any pos coin but yet there have been loads done to pow coins.

The attacker can cut the loss if he can do short selling.

[kodtycoon]

actually you would have to buy over 51% of the coins which would cost an absolute fortune and gets more expensive the higher the marketcap. Then once you manage to get that many you have to be
Willing to degrade your 51% to a value of zero in turn losing you a shit lot of money... There's a reason there has never been a 51% attack on any pos coin but yet there have been loads done to pow coins.

The attacker can cut the loss if he can do short selling.

stop.. Just stop.. How the he'll could you expect anyone to short sell 51% of any currency? Selling 5% of any coin, maybe even bitcoin would crush the markets to zero.. Then you got everyone else selling too.. Don't be stupid if you tried that with nxt it would probably cost you more than the entire marketcap of nxt in loses. You would have to drive the price up by probably an order of magnitude and then dump it to zero.. No one in their right mind would do that or even have the money to do it. By the time pos is a threat to fiat it would probably be impossible for even the US government. Then you have to ask, would 51% even be up for sale? How do you know you could even acquire over 50% of staking coins?

[Chris_Sabian]

Bitcoin, like everything, have an up and down of its price. Guys, it needs times for the people to accept BTC in their lives.
When i say times i say generation, because try to explain BTC to a person 70-80 years old..

Try explaining the internet, facebook, twitter, netflix, etc, to a person 70-80 years old..

[sublime5447]

Yeah there is a problem... Almost noone uses bitcoin and bitcoin is valued at $400... Can you fix this sublime5447?

No I cant but reality can and is the process of doing that now. It was 1200 10 months ago, it takes a while for reality to set in.

[sublime5447]

I know I am telling the congregation that Jesus was just a man.. when I say bitcoin is a failure in this forum, but was hoping there would be a few people who could see the light.

[sublime5447]

Just wondering how many people are ready to admit that it isn't gonna have main stream adoption?

I want to talk about why and what can be changed to fix bitcoin, but first we have to admit there is a problem.  

Who cares about mainstream adoption?

Do you think the world's governments are doing a good job? Yet, the people get the government they deserve.

Think about that for a while and then realize why mainstream adoption of Bitcoin isn't going to happen until people are ready for a change in the way things work around here (Earth).

The average debt slave has no need for Bitcoin nor do they even comprehend how it could benefit their lives.

I know the free market terrifies you sublime5447. You've warned me before and I'm still perfectly fine with it.

There is nothing free about the bitcoin market and if people wanted a change from the status quo bitcoin cant offer that. Bitcoin is the status quo and its model has been the status quo for thousands of years.. There is no difference between bitcoin and the USD.  They dont change because it has nothing to offer, just another controlled money regime. It doesnt even have a market price! It violates the regression theorem! it's not currency!   

Two Kinds of Money

1.The Scarcity Model: A single uniform quantity in limited supply made valuable by its own scarcity.
In other words, the value of this type of money depends on the supply of, and demand for, the money commodity itself. Conventional definitions of money define money only in terms of this model, a "medium of exchange". Examples are: cowries, gold and silver, fiat cash and coins, bank credit, and now, in the model's purest and most spectacularly speculative form, Bitcoin.

2. The Abundance Model. A promise of something specific from someone specific made valuable by its redemption in real production. The value of this type of money is defined by the promised redemption in goods and/or services. As such, this type of money is promises of an indefinite number of non-uniform commodities in indefinite supply and, unlike the limited quantity "coin" concept of money, the total quantity of these credits in circulation does not affect their value, because the value of a credit is defined by what its issuer will redeem it for in real goods and/or services. Examples are: business-to-business barter credits, customer rewards, travel points, discount coupons, mutual credit systems.

[blatchcorn]

I cannot see any failure

[nuff]

I know I am telling the congregation that Jesus was just a man.. when I say bitcoin is a failure in this forum, but was hoping there would be a few people who could see the light.

First, I agree with you that Jesus was just a man. Just a regular religious jew in fact who adhere to judaism that led a movement to overthrow the Roman empire that somehow turned into what we know now as christianity but has never in his entire lifetime preached christianity or even know what the heck is christianity but judaism which is his original religion and nothing more. But I digress. Something that is a failure means no one wants anything to do with and would likely be forgotten and buried and moved on to other things. Apple Lisa was a failure. Microsoft Zune was a failure. Nokia N-gage was a failure. THQ uDraw was a failure. Bitcoin? Infrastructure is expanding, merchants are adopting, VCs are investing, people are buying, how can that be possibly be categorized as a failure?

[Clegg]

Just wondering how many people are ready to admit that it isn't gonna have main stream adoption?

I want to talk about why and what can be changed to fix bitcoin, but first we have to admit there is a problem.   

Bitcoin isn't a failure... at least not yet. It's still growing and merchants are coming on board weekly sp we don't have to admit there's a problem because there isn't one. Mainstream adoption will not come over night but be a gradual process.