OP, you make me sad. You dont "get it." Bitcoin isnt just a financial tool, it has profound political and philosophical implications as well, which you fail to appreciate.
We dont care that you dont see the value - we do. So just leave: sell your coins, and dont come to this site again. I would personally appreciate it. Thanks
btc has no politial or philosophical anything, it was created by the NSA to track drug dealers and fund NSA op's
It's a dark currency the NSA uses for it's OP's
The ONLY reason anyone has any need for btc is to vice related transactions other than that btc has no protection the average consumer expects from a credit card or a bank
So vice use like drugs, gambling, porn and ho's will be why people acquire it
It may also be good to move money to 3rd world nations by illegal aliens or poor immigrants
If say a doctor from some 3rd world country emigrates to a real country and makes money they will use legitimate banks to transfer money, they don't care about the minor fees
Now some illegal alien with a minor income will try to save a few bucks and use it
Drug users that want to buy dope may use it instead of cash
Gambling and adult stuff is a good use
Other than that, most people have zero need for a dark currency
Face it there's tons of reasons to believe btc was and is an intelligence project
If it is or isn't doesn't really matter much now
All that matters is adoption by the average person as a type of quasi currency
Everyone can see all the big news about major retailers taking btc did NOTHING to help btc value did it
So most here are delusional as to why the value of btc moves up or down
As long as retailers are churning any transactions into fiat the currency will have downward pressure
As it is, none of the retailers have seen any significant amount of sales, it's a niche currency that was created to track drugs and terrorists by the NSA most likely IMO
I'm not the only person saying it either
Just look at the crypto it uses you see Koblitz Curve ECC
Days before the Satoshi paper was released (who is he/her? an intelligence team most likely) you had Koblitz releasing his pro NSA and ECC crypto non-sense too.
Now everyone knows how back doored ECC is via Snowden docs
Is bitcoin back doored? Who cares unless you are doing illlegal stuff
Now drugs, they're illegal in most areas of the world yet many acquired btc to do just that and look what happened the king of btc drugs is in jail
Gambling, well it's highly regulated but some may acquire btc for betting
Sex and Adult stuff, some may want anonymity for those vices
BTC serves vice purchases, so that's the real selling point
As long as people have btc and as long as retailers are willing to take it, then it will exist to some degree
Personally if it weren't for the vice angle of btc, it would have no real value IMO
I still think the downward pressure by retailers will last for some time
BTC needs a big user base for a strong vice, and IMO gambling is the only long term vice that might propel btc long term
Banks will exist and I don't see any major global crash coming, the crash happened in 2008 and the govs rescued the system and the system is what it is
BTC's value will only increase if it can capture a significant portion of the GWP, right now it's a minor percentage of GWP so it has minor value
If it gets a large percentage of the GWP then due to having 20M max coins or so, it could become worth much more than the minor amount it trades for now
80 Trillion GWP is the reality and the 8 Bil market cap of btc is NOTHING
Now if btc eventually grows to 10% of gwp, then it could have major value
Right now it's a minor part of the GWP
800 Bil is 1% of the gwp
8 bil is .01% of the gwp
Do any of you understand how insignificant .01% of the GWP is?
Yet the people posting here think btc is a major part of the global economy, it's not
Even if btc controlled 100% of gambling it would be a minor percenage of the overall GWP
Now drugs it would be a bigger currency if it controlled a huge share of illegal drugs
major industries are
military spending and you will never see btc have a piece of it
housing it won't do much there
medical it won't do much there
food it won't do much there
education it won't do much there
Does btc have value? Yep for dark/grey vice buys
In the near future all these bs financial players trying to act like btc is a viable currency will be gone, it is not a currency
It's a niche net instrument best suited for hiding wealth which most people have no wealth to hide and it's good for vice buys
It's good for intelligence groups to track money too
The whole system revolves around a very slow public ledger
The whole system has major issues with theft of coins
The average person will be hacked if they try to use btc and so far look at all the btc hacks
Look at all the exchanges that went bust
So there's way more reason for the average consumer to never acquire btc than there are to acquire it
The averge person is not a sophisticated consumer of anything nor a geek that could practice good net use to protect from hackers
The average person is broke and has very little wealth
Now why should a high net worth person that paid taxes move anything into btc?
The top of the wealth pyramid didn't make their money illegally
Sure drug dealers and underground biz owners maybe can use it to 'hide' wealth
But most wealth is above board not hidden
Nothing has changed IMO as to where btc will be end of 2014, the downward pressure by retailers will continue to crash the value
Only major vice adoption may stabilize the value of btc short term
Long term it has potential since it's an established vice currency
