Why are we seen as "early adopters"?

[notme]

...
i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is unstable volatility coupled with years of federal reserve qe printing:
..

The dollar shows less than 20% volatility over the course of 7 years on your chart.
Ignoring the fact that Bitcoin didn't exist seven years ago, its volatility was in the order of 10,000% over just the past 5 years.

Bonus point:  Calculate the relative stability.

this guy says bitcoins early volatility is normal S curve activity: http://www.youtube.com/watch?v=qHUPPYzzZrI

7 years ago on the chart was the runup to the 2007-2008 financial crisis... which eerily starting to look like todays chart.

So what are you implying?

that we are still in the price finding mode for bitcoin..
that we have not reached the point in the S curve of parabolic for bitcoin ..
and that the us economy is still on the edge ..
that the paper fiat usd 'in god we trust' the federal reserve to print money has been a failure..
that we cannot trust an invisible god with our currency ..
that science trumps 'trusting in god' to print our money.

I was with you until you started blaming God for his name being misused.  It is the fallibility of men that is responsible for the troubles in our economy.  "In God We Trust" is a lie told in an attempt to bring some legitimacy to an obvious ponzi.

[picolo]

With the mass communication we have today how come Bitcoin isn't already widespread news?

I can type a few characters into my phone and the whole world can potentially see it (if enough people were interested in me).

How haven't people realised what a great store of value BTC is now that the price is relatively stable?

Is it scepticism? Stupidity (people want easy apps without understanding anything about the underlying technology behind BTC)?

It seems to me like BTC should be heading to mass adoption NOW, rather than in 5 years time as some people predict?

Personally, I don't want it to go viral too soon though; I would like some more cheap BTC before that happens.

The fiat system is still holding up on lies.

[NotLambchop]

^A little sad 'coz ur boss Bitcoin investment didn't fly u to da moon like they promised?  Awww...

[JimboToronto]

Lost BTCeanie BTCabies only make everyone else’s BTCeanie BTCabies worth slightly more. Think of it as a donation to everyone Ty Corp.

ftfy

[NotLambchop]

Lost BTCeanie BTCabies only make everyone else’s BTCeanie BTCabies worth slightly more. Think of it as a donation to everyone Ty Corp.

ftfy

Lol, there's another thing you don't quite grasp, grampa #2.  Ty Corp profits no more from lost BTCeanie BTCabies than Satoshi profits from lost Bitcoins.
It's ok tho, I understand that senility exacerbated by erectile dysfunction pill addiction is a legitimate disease, and nothing to poke fun at.
Continue sharing your wisdom, valid elder

[JimboToronto]

Ty Corp profits no more from lost BTCeanie BTCabies than Satoshi profits from lost Bitcoins.

LOL 

Ty certainly profits if the lost doll is replaced with a new one. Whether or not it's as much as Satoshi profits from lost bitcoins is debatable.

As Satoshi is generally seen as the holder of the most bitcoins and the lost coins increase the worth of everyone else's coins, it only follows that Satoshi should profit the most from lost coins.

Logic isn't your strong suit, is it?

[NotLambchop]

Ty Corp profits no more from lost BTCeanie BTCabies than Satoshi profits from lost Bitcoins.

LOL  

Ty certainly profits if the lost doll is replaced with a new one. Whether or not it's as much as Satoshi profits from lost bitcoins is debatable.

As Satoshi is generally seen as the holder of the most bitcoins and the lost coins increase the worth of everyone else's coins, it only follows that Satoshi should profit the most from lost coins.

Logic isn't your strong suit, is it?

Grampa #1, there are so many things you no longer understand.  I'll refresh your memory.  Write this down on a scrap of paper or something.
Like Bitcoin, BTCeanie BTCabies use artificial scarcity as a marketing gimmick.  Like Bitcoin, BTCeanie BTCabies are irreplaceable.

Of course, you can buy other, different BTCeanie BTCabies, just like you can buy other, different digital currencies (see: altcoin section), but you can't replace a BTCeanie.  No sir.

Now stop posting on Tadalafil before you burst your blood-engorged brain

[aztecminer]

...
i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is unstable volatility coupled with years of federal reserve qe printing:
..

The dollar shows less than 20% volatility over the course of 7 years on your chart.
Ignoring the fact that Bitcoin didn't exist seven years ago, its volatility was in the order of 10,000% over just the past 5 years.

Bonus point:  Calculate the relative stability.

this guy says bitcoins early volatility is normal S curve activity: http://www.youtube.com/watch?v=qHUPPYzzZrI

7 years ago on the chart was the runup to the 2007-2008 financial crisis... which eerily starting to look like todays chart.

So what are you implying?

that we are still in the price finding mode for bitcoin..
that we have not reached the point in the S curve of parabolic for bitcoin ..
and that the us economy is still on the edge ..
that the paper fiat usd 'in god we trust' the federal reserve to print money has been a failure..
that we cannot trust an invisible god with our currency ..
that science trumps 'trusting in god' to print our money.

I was with you until you started blaming God for his name being misused.  It is the fallibility of men that is responsible for the troubles in our economy.  "In God We Trust" is a lie told in an attempt to bring some legitimacy to an obvious ponzi.

well you see the usd did not say "in god we trust" until the federal reserve took over the us dollar.
before the federal reserve took over we had a gold backed dollar that said: ‘E Pluribus Unum’ translates as: “from the many are one”
we went from a working currency backed by gold with hive saying to trusting in god for the federal reserve to turn usd into and print fiait
it's not that i am blaming 'your god' for anything, or that i don't believe in any gods,..... it's just that i don't believe in 'your god' ..
the inspiration from 'your god' to turn the usd into a fiat backed by debt and printing more and more of the stuff is a *FAILED* experiment.
it's like an alcoholic who has not accepted that he is an alcoholic yet so he stays an alcoholic and keeps drinking abusively..
"in marilyn we trust"

[NotLambchop]

[so much fail I wouldn't know where to start]

Educate yourself:  http://en.wikipedia.org/wiki/History_of_the_United_States_dollar

[exocytosis]

The early adopters embraced Bitcoin 5-6 years ago.

People adopting it now, are among the last few thousands to ever adopt it.

Why are you here then?

Because Janet Yellen and Lloyd Blankfein pay me to shill on behalf of the banksters. They view Bitcoin as a serious threat.

[fewcoins]

Yea okay bitcoin as a serious threat when it cost half a million dollars per day in electricity just to create these worthless coins lmfao!
Trust me the banks aren't worried or they would have already crushed bitcoin. They rather steal the good ideas and innovation that comes from this illiquid penny market! Now payment processors/money transmitters are a different story

[picolo]

Yea okay bitcoin as a serious threat when it cost half a million dollars per day in electricity just to create these worthless coins lmfao!
Trust me the banks aren't worried or they would have already crushed bitcoin. They rather steal the good ideas and innovation that comes from this illiquid penny market! Now payment processors/money transmitters are a different story

Theoretically an entity could steal the technology since it's a free software and launch a new Bitcoin.

[ObscureBean]

Bitcoin is just not stable enough at least not to the same level as say the Dollar and that scares merchants and consumers alike. A salary paid in real money, allows people to plan to the nearest cent their budget for the month, you wouldn't be able to do that with Bitcoin. If you have a family/children, it would be unbearable stress not knowing if your $100 worth of Bitcoin will still be worth $100 when you go to the grocery store next week. Bitcoin adoption will keep increasing slowly. It is however unlikely that it will rival real money anytime soon in its current form.

i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is volatility coupled with years of federal reserve qe printing causing unstatable currency could crash at any minute and looming bank bail-ins.:

Yes but you missed a very important detail: security. As far as I'm aware, during that period of time, you didn't wake up everyday to a different price for a loaf of bread. The Dollar can fluctuate but you still have the security of being able to buy the same amount of food for the same amount of Dollars (at least over a reasonable period of time). With Bitcoin fluctuations, you could wake up some day where, the BTC you hold is not enough for a loaf of bread even though, it was more than enough at the time you went to bed. Bitcoin is a commodity that derives its value from real money.

[IMZ]

One: the fabulous inventiveness of User Names makes reading worthwhile.

Two: there's a theoretical misapprehension about 'volatility' that I wanna clear up:

why is it not clearly understood that when a fiat currency simply goes down and down and down in price -- albeit over time -- that that's not a form of 'volatility'?

It's a strange strange logic that holds that it's bad for a currency (in its very infancy, under constant attack by banks and governments) to go up and down in price; but it's okay for a currency to . . . just go down!

Mark (IndiaMikeZulu), Australia

[Raystonn]

Bitcoin is just not stable enough at least not to the same level as say the Dollar and that scares merchants and consumers alike. A salary paid in real money, allows people to plan to the nearest cent their budget for the month, you wouldn't be able to do that with Bitcoin. If you have a family/children, it would be unbearable stress not knowing if your $100 worth of Bitcoin will still be worth $100 when you go to the grocery store next week. Bitcoin adoption will keep increasing slowly. It is however unlikely that it will rival real money anytime soon in its current form.

i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is volatility coupled with years of federal reserve qe printing causing unstatable currency could crash at any minute and looming bank bail-ins.:

Yes but you missed a very important detail: security. As far as I'm aware, during that period of time, you didn't wake up everyday to a different price for a loaf of bread. The Dollar can fluctuate but you still have the security of being able to buy the same amount of food for the same amount of Dollars (at least over a reasonable period of time). With Bitcoin fluctuations, you could wake up some day where, the BTC you hold is not enough for a loaf of bread even though, it was more than enough at the time you went to bed. Bitcoin is a commodity that derives its value from real money.

When was the last time you bought some gasoline?  Those volatile prices are in USD.

Bitcoin's current volatility is due to low market cap.  It allows the wealthy to heavily impact price.  This will be the case for any currency or commodity that is not forced into rapid adoption by law.  As market cap increases, volatility will decrease.

[ObscureBean]

Bitcoin is just not stable enough at least not to the same level as say the Dollar and that scares merchants and consumers alike. A salary paid in real money, allows people to plan to the nearest cent their budget for the month, you wouldn't be able to do that with Bitcoin. If you have a family/children, it would be unbearable stress not knowing if your $100 worth of Bitcoin will still be worth $100 when you go to the grocery store next week. Bitcoin adoption will keep increasing slowly. It is however unlikely that it will rival real money anytime soon in its current form.

i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is volatility coupled with years of federal reserve qe printing causing unstatable currency could crash at any minute and looming bank bail-ins.:

Yes but you missed a very important detail: security. As far as I'm aware, during that period of time, you didn't wake up everyday to a different price for a loaf of bread. The Dollar can fluctuate but you still have the security of being able to buy the same amount of food for the same amount of Dollars (at least over a reasonable period of time). With Bitcoin fluctuations, you could wake up some day where, the BTC you hold is not enough for a loaf of bread even though, it was more than enough at the time you went to bed. Bitcoin is a commodity that derives its value from real money.

When was the last time you bought some gasoline?  Those volatile prices are in USD.

Bitcoin's current volatility is due to low market cap.  It allows the wealthy to heavily impact price.  This will be the case for any currency or commodity that is not forced into rapid adoption by law.  As market cap increases, volatility will decrease.

Well gasoline isn't exactly a basic need, the food you put on the table every night for dinner is. A basic need can be defined as that which is essential to sustain life.

Market cap doesn't have any bearing on Bitcoin volatility, it's just an estimation of the combined value of all Bitcoin in circulation. I think what you mean is mass adoption, the greater the number of people that use Bitcoin, the more stable it'll be. But that just brings us back to our original problem, people need Bitcoin to be stable before they go all in and Bitcoin needs more people to increase its stability. It's not that easy to achieve a stable value, else it would've already been done/attempted. You'd need to have a system in place to absorb dumps and prevent huge spikes but then that would mean somebody would have to be in control. One of the perks of Bitcoin is that it is not under the control of any individual or group.

The other thing that makes Bitcoin a little scary is that in its current form its well-being largely depends on trust as there are no laws to prevent any individual or group of individuals from owning more that 50% of the network's hashrate.

[aztecminer]

Bitcoin is just not stable enough at least not to the same level as say the Dollar and that scares merchants and consumers alike. A salary paid in real money, allows people to plan to the nearest cent their budget for the month, you wouldn't be able to do that with Bitcoin. If you have a family/children, it would be unbearable stress not knowing if your $100 worth of Bitcoin will still be worth $100 when you go to the grocery store next week. Bitcoin adoption will keep increasing slowly. It is however unlikely that it will rival real money anytime soon in its current form.

i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is volatility coupled with years of federal reserve qe printing causing unstatable currency could crash at any minute and looming bank bail-ins.:

Yes but you missed a very important detail: security. As far as I'm aware, during that period of time, you didn't wake up everyday to a different price for a loaf of bread. The Dollar can fluctuate but you still have the security of being able to buy the same amount of food for the same amount of Dollars (at least over a reasonable period of time). With Bitcoin fluctuations, you could wake up some day where, the BTC you hold is not enough for a loaf of bread even though, it was more than enough at the time you went to bed. Bitcoin is a commodity that derives its value from real money.

ok which part of this did you miss ::

...
i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is unstable volatility coupled with years of federal reserve qe printing:
..

The dollar shows less than 20% volatility over the course of 7 years on your chart.
Ignoring the fact that Bitcoin didn't exist seven years ago, its volatility was in the order of 10,000% over just the past 5 years.

Bonus point:  Calculate the relative stability.

this guy says bitcoins early volatility is normal S curve activity: http://www.youtube.com/watch?v=qHUPPYzzZrI

7 years ago on the chart was the runup to the 2007-2008 financial crisis... which eerily starting to look like todays chart.

it will stay volatile until it completes the S curve and finds it's price.

[FUR11]

People still are hesitant to use Bitcoin. At least a lot of people are. You can clearly see how much money has entered the Bitcoin market, well at least you can make some estimates. And even if those estimates are way off, it's apparent that there's still so much more room for growth left! Than single fact makes me very optmistic!

[FeedbackLoop]

On the beanie babies:

were beanie babies ever recognised as significantly valuable outside of the US? Or tulips outside of the Netherlands for that matter?

Seems like Bitcoin is recognised by at least like-minded people everywhere in the World. This is a clear indication that the motives behind toy adoption and crypto adoption are not exactly comparable. Right?

Sorry for responding to someone who most of you probably think is a troll but we lack a bit quality bears. :p

[FUR11]

On the beanie babies:

were beanie babies ever recognised as significantly valuable outside of the US? Or tulips outside of the Netherlands for that matter?

Seems like Bitcoin is recognised by at least like-minded people everywhere in the World. This is a clear indication that the motives behind toy adoption and crypto adoption are not exactly comparable. Right?

Sorry for responding to someone who most of you probably think is a troll but we lack a bit quality bears. :p

I even remember a very small shop entirely dedicated to the sale of Beanie Babies. It was crazy! That shop was rather small, but imagine a shop which sole purpose was selling those stuffed little animals - which had a potentially infinite supply of themselves.