Why Bitcoin won't succeed

[D4CH]

BitCoins will succeed!

You've just got to believe in it!

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[JesseChisholm]

Faisal7:   Why BitCoins won't succeed? ... Because no one needs me.

Your topic question might have started an interesting philosophical discussion, if only you had supported it with a valid Nihilistic argument.  But your broken syllogism makes it barely worth this "get out of the newbies forum" post.

I do find it interesting that you bothered to intentionally join the BitCoin forum if you believe your own arguments about its futility.

But one thing certain: BitCoin doesn't need you.

Unacceptable: link to "Layman's Guide to Suicide"

Are there any "Professional Suicides?"

Hexidecibel:

"The internet is just a fad."

KajiMaster: What the fuck is the internet?

It's that visionary thing that Al Gore invented.

greg35: ... ain't mined SHIT on my CPU in the last few days.

You posted that sometime in 2012, when the documented rate for a single home computer to be successful at mining to be in the 1 to 2 year range.

Be more patient. ;-D
Or get a dedicate super computer or 32 and form a pool.

flc1984: Bitcoins have only succeeded with geeks and nerds. They layperson has neither heard of nor cares about them, they will never be a mainstream currency.

So, you're saying that, even with the increasing necessity for technological savvy in the world, that "geeks and nerds" will never be "mainstream"?

What a sad thought.  And one that Bill Gates, Bill Joy, Steve Wozniak, etc. might disagree with.

-Jesse

Moderator Edit: Joined all your consecutive replies into one. You can multi-quote, you know?

[puffn]

Up 35% in two weeks. I think Bitcoins are legit.

[SC2ProPlayer]

your an idiot

[BYONDIIx]

Up 35% in two weeks. I think Bitcoins are legit.

I'm still pissed that I missed the $30/1 BTC rate! 

[Kazimir]

I'm still pissed that I missed the $30/1 BTC rate! 

No worries man. It'll be back at $30 soon enough. And then $40. And $50. And $100. Think of the market size and potential audience world wide for Bitcoin, versus its supply. This sh!t is gonna skyrocket.

I on the other hand, am pissed that I missed the $2 after the Mt Gox hack. I only discovered Bitcoin when it was already back up to $5. Could have purchased a lot more bitcoins if I had found out earlier. And we'll probably never see the $2 rate again

[realnowhereman]

your an idiot

sew our ewe.

[JTurner]

No worries man. It'll be back at $30 soon enough. And then $40. And $50. And $100. Think of the market size and potential audience world wide for Bitcoin, versus its supply. This sh!t is gonna skyrocket.

Question is, will this happen before or after the blockchain doesn't fit on a 1TB drive anymore. Just noticed this morning the blockchain is reaching close to 2 GB. It's becoming more and more of a burden on the system partition... And when noone has a hard drive big enough to store the whole chain, what happens then?

[John (John K.)]

No worries man. It'll be back at $30 soon enough. And then $40. And $50. And $100. Think of the market size and potential audience world wide for Bitcoin, versus its supply. This sh!t is gonna skyrocket.

Question is, will this happen before or after the blockchain doesn't fit on a 1TB drive anymore. Just noticed this morning the blockchain is reaching close to 2 GB. It's becoming more and more of a burden on the system partition... And when noone has a hard drive big enough to store the whole chain, what happens then?

The blockchain can and will be trimmed before it reaches disproportionally large levels. Take a look around : https://bitcointalk.org/index.php?board=6.0 and you'll see many proposals regarding this issue.

[finkleshnorts]

That ignore button turned orange quickly

[Kazimir]

Question is, will this happen before or after the blockchain doesn't fit on a 1TB drive anymore. Just noticed this morning the blockchain is reaching close to 2 GB. It's becoming more and more of a burden on the system partition... And when noone has a hard drive big enough to store the whole chain, what happens then?

The blockchain data can be easily compressed, collapsed, or otherwise stored more efficiently without any changes to the protocol. This is merely a client issue that can (and will) be improved in new client versions soon.

[JesseChisholm]

You can multi quote, you know.

I do now. ;-)

[localhost]

That ignore button turned orange quickly

Btw, what does it mean when an ignore button is orange? Is that a suggestion or sth?  

The blockchain data can be easily compressed, collapsed, or otherwise stored more efficiently without any changes to the protocol. This is merely a client issue that can (and will) be improved in new client versions soon.

A bird in the hand is worth two in the bush... 

[divan0w]

I think bitcoins will  succeed only till the mining process finishes. Then all the people invested in it will be the really f*gs, cos, nobody is going to buy their bitcoins and the price will stay the same forever until they quit this shit . That's why I sell everything i made every day. The positive side of whole sh*t is that those people that will stay at last with some numbers and many lost real money will actually help world economy by losing those dollars, euros etc.

[Foxpup]

I think bitcoins will  succeed only till the mining process finishes. Then all the people invested in it will be the really f*gs, cos, nobody is going to buy their bitcoins and the price will stay the same forever until they quit this shit . That's why I sell everything i made every day. The positive side of whole sh*t is that those people that will stay at last with some numbers and many lost real money will actually help world economy by losing those dollars, euros etc.

The mining process will never finish (barring some kind of apocalypse, of course). The block subsidy will eventually drop to zero (sometime around the year 2140), but the block subsidy is not the only mining reward: miners also receive transaction fees, which will provide sufficient incentive for miners to continue their efforts after the block subsidy has ceased.

[Kazimir]

I think bitcoins will  succeed only till the mining process finishes. Then all the people invested in it will be the really f*gs, cos, nobody is going to buy their bitcoins and the price will stay the same forever until they quit this shit . That's why I sell everything i made every day. The positive side of whole sh*t is that those people that will stay at last with some numbers and many lost real money will actually help world economy by losing those dollars, euros etc.

You seem to think that Bitcoin is mostly about mining. Well, you're wrong.

Furthermore you seem to make a distinction between Bitcoin and 'real money'. Well, you're wrong again.

[divan0w]

Yeah, guys, i expected answers like this, because mainly my idea was to be proved wrong. I'm in business form 05.2011 but and read much about it but still not convinced enough to be sure it is a real thing. The amount of money made till now isn't that much. Any Mall makes more monthly budget than those made till now. By the way I strongly suggest you to watch Zeitgeist movies. And one russian movie called Пиpaмидa.

[Kazimir]

The amount of money made till now isn't that much.

How do you mean, the amount of money made till now?

That's easy: 9286150 BTC.

[memvola]

I'm in business form 05.2011 but and read much about it but still not convinced enough to be sure it is a real thing. The amount of money made till now isn't that much. Any Mall makes more monthly budget than those made till now.

With such metrics, you won't be convinced before it's already obvious to everyone. But then your opinion would have no value.

That's easy: 9286150 BTC

Hey, look, we have a BTC tag now! FTFY

[Naelr]

This guy is a genius ... these coins that won't be worth anything just bought me a $600 item..... oh well.. he is right.. I should just throw it away... BTW thanks for my 5th post!

Naelr