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Author Topic: The reason why i think bitcoin is doomed...  (Read 1103 times)
detodo
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October 04, 2014, 10:30:06 AM
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I think bitcoin is doomed to fail in all it's skeleton and purpose of anonimacy.

Why i think this?
Bitcoin ATM's are being placed in many countries as we speak...
What is gonna happen?
Well good things and bad things:
One good thing is that you can pay with the so called security and your money not being stolen from your wallet.
A bad thing is that muggers and robers can now insert their stolen cash into an ATM and make disappear without a trace...
Alot of people are going to know about bitcoin and are going to put their money into foreigner offshore banks so less taxes for the goverment.
(less taxes for the goverment is a good thing? No it's not 'cause they need to pay us later our retirement cash when we are older.)

All i see happening is corruption being the central door in bitcoin.
So what is exactly going to happen when this all goes from white into black?
One thing is gonna happen it's either they are going to be controlled by the banks or goverments or they are just gonna be banned forever.


I do know alot has been spoken about this. But still theres no information on how this "bitcoin economy" would ever work in society nowadays.
As for me i do think they are going to END soon and that goverments will see the source code as a way to do safer and legitimate/controlled payments in the near future and who knows  if one bad world law comes around and burns down the "offshore banks" (that would be too much to wish for as banks themselfs love them too).


Just tell me if you guys just ignore my point of view of just agree that bitcoin is no safe haven.
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October 04, 2014, 10:42:34 AM
 #2

I think bitcoin is doomed to fail in all it's skeleton and purpose of anonimacy.

Why i think this?
Bitcoin ATM's are being placed in many countries as we speak...
What is gonna happen?
Well good things and bad things:
One good thing is that you can pay with the so called security and your money not being stolen from your wallet.
A bad thing is that muggers and robers can now insert their stolen cash into an ATM and make disappear without a trace...
Alot of people are going to know about bitcoin and are going to put their money into foreigner offshore banks so less taxes for the goverment.
(less taxes for the goverment is a good thing? No it's not 'cause they need to pay us later our retirement cash when we are older.)

All i see happening is corruption being the central door in bitcoin.
So what is exactly going to happen when this all goes from white into black?
One thing is gonna happen it's either they are going to be controlled by the banks or goverments or they are just gonna be banned forever.


I do know alot has benn spoken about this. But still theres no information on how this "bitcoin economy" would ever work in society nowadays.
As for me i do think they are going to END soon and that goverments will see the source code as a way to do safer and legitimate/controlled payments in the near future and who knows  if one bad world law comes around and burns down the "offshore banks" (that would be too much to wish for as banks themselfs love them too).


Just tell me if you guys just ignore my point of view of just agree that bitcoin is no safe haven.

Bitcoin will be most successful when new organizations force you to use it without your prior knowledge or consent.  Sure, right now there is no demand for it, just like when Automobiles came out, there was no demand for them as the road infrastructure was not built for them - it was dirt roads built for horses. 

Bitcoin filled an early demand for money laundering services and drug sales back in 2010 and 2011.  Thus early on, it has had a convoluted history with crime and corruption - just as how fiat, CASH, money has.  Bitcoin is a simply mathematical peer to peer system that is less efficient than a centralized fractional reserve banking system but it has the ability of peer to peer consensus and gives people of the world a 'choice' on how to hold their methods of stored value.  We always think of dollars and credit cards and bank accounts - but before the romans (or was it phoenicians or perhaps the ancient chinese) there were things like gold and gold coins to hold and store value - the idea was that their spot price was either at value or slightly lower than melt-value. 

Do you remember the huge spike in demand for Dialup modems?  No?  That's because it didn't happen - by the time the internet was in demand, modems were practically a required feature for desktop computers by the time the internet became 'consumer' grade.  That is why people all around you say that bitcoin is still in the early internet age.

Saying bitcoin has no value is like taking a time machine backto 1989 and saying that the arpanet was doomed to failure because no one in their right mind would pay 10K for an electronic device nor hundreds of dollars in access fees per to replace what they could get for free from a library - information stored in books to be checked out.

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October 04, 2014, 02:32:02 PM
 #3

I think bitcoin is doomed to fail in all it's skeleton and purpose of anonimacy.

Why i think this?
Bitcoin ATM's are being placed in many countries as we speak...
What is gonna happen?
Well good things and bad things:
One good thing is that you can pay with the so called security and your money not being stolen from your wallet.
A bad thing is that muggers and robers can now insert their stolen cash into an ATM and make disappear without a trace...
Alot of people are going to know about bitcoin and are going to put their money into foreigner offshore banks so less taxes for the goverment.
(less taxes for the goverment is a good thing? No it's not 'cause they need to pay us later our retirement cash when we are older.)

All i see happening is corruption being the central door in bitcoin.
So what is exactly going to happen when this all goes from white into black?
One thing is gonna happen it's either they are going to be controlled by the banks or goverments or they are just gonna be banned forever.


I do know alot has been spoken about this. But still theres no information on how this "bitcoin economy" would ever work in society nowadays.
As for me i do think they are going to END soon and that goverments will see the source code as a way to do safer and legitimate/controlled payments in the near future and who knows  if one bad world law comes around and burns down the "offshore banks" (that would be too much to wish for as banks themselfs love them too).


Just tell me if you guys just ignore my point of view of just agree that bitcoin is no safe haven.

What a bunch of unsubstantiated FUD.

kennyclaw
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October 04, 2014, 02:45:23 PM
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Only time will tell
fewcoins
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October 05, 2014, 02:05:15 AM
 #5

Dude they can't ban bitcoin... It would be impossible. People who keep referring to crime sound retarded too. I mean think about it, people already get money to off shore accounts anyway. NOBODY is becoming a criminal just because bitcoin exist. That's simply not true. So if this is why you think btc is doomed, rest asure you can go buy as many as you want now
Gallah
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October 08, 2014, 11:29:49 AM
 #6

Bitcoin and other alt coins can be banned from country to country although they can not enforce the ban completely. Illegal activities will still occur. You can't control a decentralised currency only make it harder to use.

Smart countries know regulation is better than banning. The more authoritarian a country is the greater chance of a ban.

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October 08, 2014, 02:10:29 PM
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I agree with one thing that governments of most countries must be worried about money transfers for criminal activities without a trace and money laundering etc.. That's why they don't like decentralized virtual currencies they have no control over it.
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October 08, 2014, 02:16:54 PM
 #8

I think bitcoin is doomed to fail in all it's skeleton and purpose of anonimacy.

Why i think this?
Bitcoin ATM's are being placed in many countries as we speak...
What is gonna happen?
Well good things and bad things:
One good thing is that you can pay with the so called security and your money not being stolen from your wallet.
A bad thing is that muggers and robers can now insert their stolen cash into an ATM and make disappear without a trace...
Alot of people are going to know about bitcoin and are going to put their money into foreigner offshore banks so less taxes for the goverment.
(less taxes for the goverment is a good thing? No it's not 'cause they need to pay us later our retirement cash when we are older.)

All i see happening is corruption being the central door in bitcoin.
So what is exactly going to happen when this all goes from white into black?
One thing is gonna happen it's either they are going to be controlled by the banks or goverments or they are just gonna be banned forever.


I do know alot has been spoken about this. But still theres no information on how this "bitcoin economy" would ever work in society nowadays.
As for me i do think they are going to END soon and that goverments will see the source code as a way to do safer and legitimate/controlled payments in the near future and who knows  if one bad world law comes around and burns down the "offshore banks" (that would be too much to wish for as banks themselfs love them too).


Just tell me if you guys just ignore my point of view of just agree that bitcoin is no safe haven.

Of all the scenarios you could choose from that would spell doom for BTC, you pick ATMs, bitcoins for muggers, and tax evasion?

I'm also confused when you say "...there's no information on how this 'bitcoin economy' would ever work in society nowadays."  I mean...look around.  Here it is, working.

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