The sad truth about Bitcoin

[CoinCidental]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

You came here thinking that it would be easy to get rich [1] and now that you understand you would have to work for it you blame bitcoin. If you have problems its noone elses fault, get your act together and pan them out.


[1] https://bitcointalk.org/index.php?topic=894940.0

I never thought I'd come here and get rich.  I thought I'd come here and learn more about cryptocurrency.  There is very little work to be had in the world of Bitcoin.  Sure, there are some very specialized fields where people are making money.  The average guy, not so much.  The disparity between the rich and poor with Bitcoin is by far greater than any fiat currency in existence.  It will not survive if this remains true.

80 families have more than 50% of the wealth in the world today and the other 7 billion of us  are fighting for the "crumbs"


If that's not disparity I don't know what is lol

[newflesh]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

The smallest of crumbs nowadays could be worth a lot more in the future. There's always going to be people richer or poorer than you, equating that to 'Bitcoin is doooomed' doesn't make any sense.

[Kprawn]

Well, I have seen MANY of these families making a HUGE difference with charities and creating employment for thousands.

I live in a country, where the government steal from the rich and give to the poor. {They seem to forget, that those rich people, when they leave, will take the tax with them}

You cannot rape the rich, because they made a success in life. {Even if it was inherited} I come from a poor family and grind it out every day, and if it was not for the rich, I would have been out of a job.

Bitcoin is just the same, you will have the rich, you will have the poor, and you will have those, who try to exploit both.

Read the books "Rich Dad, Poor Dad" and "Why We want you to be rich" and you will get, why the rich people, give so much back to the poor. In short, if the middle class {the people, who pay most of the Tax} get eliminated, the rich has too carry ALL the tax burden, and they do not want that.

They now grow the middle class, to help them, carry the Tax burden of the world.  

[BitUsher]

Perhaps the OP needs to spend more time at Bitcoin meetups and tradeshows instead of forums. The bitcoin ecosystem is exploding with innovation, startups, and venture capital and many businesses are hiring in this space if you are a developer.

[Q7]

Explain the term middle class. If i own 2 btc would that put me in that range? I agree with your point that early adopters probably can determine the direction of the market but we just have to accept the fact. There is nothing we can do.

[GratefulCoin]

Perhaps the OP needs to spend more time at Bitcoin meetups and tradeshows instead of forums. The bitcoin ecosystem is exploding with innovation, startups, and venture capital and many businesses are hiring in this space if you are a developer.

What you're saying here very well may be true.  Behind the scenes maybe things are moving at a pace that I can't see from the internet.  From the things I see, that doesn't seem to be the case.  I'm surprised by how little development there is online.  I know there are big sites now accepting Bitcoin as a form of payment.  But, I'm surprised there isn't more online shopping focusing only on Bitcoin customers.  A lot of the ones that do, seem like scams.

When I started to get interested in Bitcoin I expected everything to be popping.  There would be cottage industries popping up all over to cater to Bitcoin customers.  I get the feeling that's really not the case.  I could be 100% wrong.  I admit that.  But, there isn't the free flow of money like there was in the past on the internet.  There seems to be something that's holding people back.  There doesn't seem to be enough commerce in the world of Bitcoin.  There needs to be more buying and selling.  You can't just have people investing in the currency and doing nothing with it.  If people were spending them, there would be more sites focusing only on Bitcoin customers.

I want people to understand I'm not saying anything bad about Bitcoin.  The idea of it is fantastic.  Anyone that has ever done business online knows just how valuable something like this has the potential to be.  But, it seems quite a ways off from what it could potentially be.

[DannyHamilton]

Perhaps the OP needs to spend more time at Bitcoin meetups and tradeshows instead of forums. The bitcoin ecosystem is exploding with innovation, startups, and venture capital and many businesses are hiring in this space if you are a developer.

What you're saying here very well may be true.  Behind the scenes maybe things are moving at a pace that I can't see from the internet.  From the things I see, that doesn't seem to be the case.  I'm surprised by how little development there is online.  I know there are big sites now accepting Bitcoin as a form of payment.  But, I'm surprised there isn't more online shopping focusing only on Bitcoin customers.  A lot of the ones that do, seem like scams.

When I started to get interested in Bitcoin I expected everything to be popping.  There would be cottage industries popping up all over to cater to Bitcoin customers.  I get the feeling that's really not the case.  I could be 100% wrong.  I admit that.  But, there isn't the free flow of money like there was in the past on the internet.  There seems to be something that's holding people back.  There doesn't seem to be enough commerce in the world of Bitcoin.  There needs to be more buying and selling.  You can't just have people investing in the currency and doing nothing with it.  If people were spending them, there would be more sites focusing only on Bitcoin customers.

I want people to understand I'm not saying anything bad about Bitcoin.  The idea of it is fantastic.  Anyone that has ever done business online knows just how valuable something like this has the potential to be.  But, it seems quite a ways off from what it could potentially be.

Maybe somewhat similar to what a lot of people experienced with eCommerce in the late 90's early 2000's.  This doesn't feel anything like that at all.  Not even in the slightest.

You're about 5 to 15 years to early.  Bitcoin is just a protocol at this point.  It's still in its infancy, and it really doesn't have the ease of use yet needed for the sort of growth you're talking about.  It's more like the state of eCommerce in the 1980's.

My guess is that it's mainly rich people or people with income sources that don't care if they lose it.  I don't see the average person putting their retirement savings in Bitcoin.

That would be a horrible idea for anybody , no matter how much money they have.

At this point, the amount of value that you hold in bitcoin should be less than the amount that you would fell devastated if you were to lose it.  It is still VERY high risk with complex security and huge volatility in exchange rate.

[BitUsher]

What you're saying here very well may be true.  Behind the scenes maybe things are moving at a pace that I can't see from the internet.  From the things I see, that doesn't seem to be the case.  I'm surprised by how little development there is online.  I know there are big sites now accepting Bitcoin as a form of payment.  But, I'm surprised there isn't more online shopping focusing only on Bitcoin customers.  A lot of the ones that do, seem like scams.

When I started to get interested in Bitcoin I expected everything to be popping.  There would be cottage industries popping up all over to cater to Bitcoin customers.  I get the feeling that's really not the case.  I could be 100% wrong.  I admit that.  But, there isn't the free flow of money like there was in the past on the internet.  There seems to be something that's holding people back.  There doesn't seem to be enough commerce in the world of Bitcoin.  There needs to be more buying and selling.  You can't just have people investing in the currency and doing nothing with it.  If people were spending them, there would be more sites focusing only on Bitcoin customers.

I want people to understand I'm not saying anything bad about Bitcoin.  The idea of it is fantastic.  Anyone that has ever done business online knows just how valuable something like this has the potential to be.  But, it seems quite a ways off from what it could potentially be.

Bitcoin is less than 6 years old and from what I have seen development has been far more rapid than the internet. I don't understand why you assume that the development will be taking place on a forum and not within private start ups or collaboratively through github. You are suggesting there isn't rapid development but I am seeing the exact opposite by following various projects and following all the new startups spring forth which have harvested some of the greatest minds to work on fintech and Bitcoin.

Can you be specific as to what exactly are you comparing bitcoin too as far as development progress? You realize the internet took over 25 years before even starting to go somewhat mainstream, right ?

[mlferro]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

You came here thinking that it would be easy to get rich [1] and now that you understand you would have to work for it you blame bitcoin. If you have problems its noone elses fault, get your act together and pan them out [2].


[1] https://bitcointalk.org/index.php?topic=894940.0
[2] https://www.youtube.com/watch?v=K1LHMG__bws

it is always easier to blame the other

[Plutonium]

OP, then why are r coming here? It is for the bitcoin supporters. Don't you see the increasing number of merchants and users is involving bitcoin space?

That's a great question.  I think I came here feeling like this was the new gold rush.  Like those people that go to North Dakota to make insane amounts of money in the oil boom economy.  I thought the world of Bitcoin was somewhat similar.  Maybe the problem is less about Bitcoin and more about my perception.

People who were apart of the gold rush were trying to get rich...
You stated earlier that you were not here to get rich but rather to learn more about crypto currency.
Make up your mind!

[seriouscoin]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

[Plutonium]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

Don't get so mad, he is either a troll feeding off of your anger or he's a 13 year old kid who thinks bitcoin is his chance to get rich quick.

[LordSonjai]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

You are so blatantly disrespectful it disgusts me,if you were intelligent you could of used some tact to go with your insult. He didn't curse towards you so their really isn't a reason to curse at him nor call him out of his name. We are all squirrels reaching for a nut and if you were to tell me you hold bitcoin with no interest in wealth what so ever I would say you were lying. So giving that,I think you aren't the right person to judge. To the poster,I disagree,the poor class knows nothing of bitcoin(Generally,nothing is absolute).

Bitcoin is more than just a currency you see,it is a new technology. Before bitcoin,who would of thought you could transfer a vast sum of money 10,000 miles away directly into someones pocket for 10 cents? No one,why?Because we are all brainwashed drones who grow up trusting the banks. I say this because we figure,this is just the best they can do. But we were wrong. Bitcoin showed us that we could transfer money for free,it is possible.

Anyway. I think the word doomed is a little rash. Bitcoin is the future.

[LordSonjai]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

Don't get so mad, he is either a troll feeding off of your anger or he's a 13 year old kid who thinks bitcoin is his chance to get rich quick.

It is anyones chance to get rich quick,bitcoin has already proved that within a snap of a finger you could invest 1000,and make 10,000.

[Bit_Happy]

I've come to realize that Bitcoin is either for the rich or for poor people picking up the smallest of crumbs.  There seems to be very few people in the middle.  If this doesn't change... Bitcoin and cryptocurrency in general is doomed.

The main problem with Bitcoin is that 99% of the community is focused on merchant integration. This means there are a growing number of places where holders of bitcoin can essentially dump their BTC onto the markets. This is what happens every time a customer checks out with Bitpay.

There needs to be a fundamental shift in the community's consciousness, and an awareness of what is happening. We need not only businesses to accept bitcoin, but also for them to give their employees the option of receiving their wage in bitcoin. This will slow down the influx in selling.

Agreed, we need a dramatic increase in the number of people being paid in Bitcoins, then the economy will be truly unstoppable.

[Plutonium]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

Don't get so mad, he is either a troll feeding off of your anger or he's a 13 year old kid who thinks bitcoin is his chance to get rich quick.

It is anyones chance to get rich quick,bitcoin has already proved that within a snap of a finger you could invest 1000,and make 10,000.

Exactly, OP is just mad he didn't get here at the right time and is now trying to down bitcoins future.

[seriouscoin]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

You are so blatantly disrespectful it disgusts me,if you were intelligent you could of used some tact to go with your insult. He didn't curse towards you so their really isn't a reason to curse at him nor call him out of his name. We are all squirrels reaching for a nut and if you were to tell me you hold bitcoin with no interest in wealth what so ever I would say you were lying. So giving that,I think you aren't the right person to judge. To the poster,I disagree,the poor class knows nothing of bitcoin(Generally,nothing is absolute).

Bitcoin is more than just a currency you see,it is a new technology. Before bitcoin,who would of thought you could transfer a vast sum of money 10,000 miles away directly into someones pocket for 10 cents? No one,why?Because we are all brainwashed drones who grow up trusting the banks. I say this because we figure,this is just the best they can do. But we were wrong. Bitcoin showed us that we could transfer money for free,it is possible.

Anyway. I think the word doomed is a little rash. Bitcoin is the future.

Respect is to be earned, not given. Dumb ass.

Maybe because i can smell BS that you dont? Most of the dumbasses like OP always start with " I've heard of bitcoin in 2009 but not interested...." Trying to make it sound like they're not here to be rich or basically just heard of bitcoin or does not want to admit they were haters all along since bitcoin's first bubble.

All the smart ppl that i know, read up about bitcoin right after they heard of it. They also dont jump in to speculate btc price. As time goes by, they support bitcoins by TRADING their work for it, involved with ideas and development. This retard says hes a nerd (anyone call themselves nerds are just wannabe) but only look at btc price.... righhht

[LordSonjai]

The sad truth about bitcoin is the wannabe nerd coming in here thinking they're an expert in economy and telling bitcoiners why bitcoin will fail.... i mean after being "skeptical" (loosely used by idiots without visions) for years, they just get to learn about bitcoin now and .... boom.... " this is not gonna work"...insert their "intelligent thinking"


For fuck's sake, if OP is any where near being smart, he would have learned about bitcoin along time ago.


So many " i heard about bitcoin in 2009,2010 but never interested ... until now...." that i lose counts. What a load of BS, you're only interested now because the price is 1000x than it was in 2010 .... so your greedy part is taking over.

What joke you are , OP

You are so blatantly disrespectful it disgusts me,if you were intelligent you could of used some tact to go with your insult. He didn't curse towards you so their really isn't a reason to curse at him nor call him out of his name. We are all squirrels reaching for a nut and if you were to tell me you hold bitcoin with no interest in wealth what so ever I would say you were lying. So giving that,I think you aren't the right person to judge. To the poster,I disagree,the poor class knows nothing of bitcoin(Generally,nothing is absolute).

Bitcoin is more than just a currency you see,it is a new technology. Before bitcoin,who would of thought you could transfer a vast sum of money 10,000 miles away directly into someones pocket for 10 cents? No one,why?Because we are all brainwashed drones who grow up trusting the banks. I say this because we figure,this is just the best they can do. But we were wrong. Bitcoin showed us that we could transfer money for free,it is possible.

Anyway. I think the word doomed is a little rash. Bitcoin is the future.

Respect is to be earned, not given. Dumb ass.

Maybe because i can smell BS that you dont? Most of the dumbasses like OP always start with " I've heard of bitcoin in 2009 but not interested...." Trying to make it sound like they're not here to be rich or basically just heard of bitcoin or does not want to admit they were haters all along since bitcoin's first bubble.

All the smart ppl that i know, read up about bitcoin right after they heard of it. They also dont jump in to speculate btc price. As time goes by, they support bitcoins by TRADING their work for it, involved with ideas and development. This retard says hes a nerd (anyone call themselves nerds are just wannabe) but only look at btc price.... righhht

Im not going to argue with a bafoon such as yourself this isn't a debate,your attitude sucks.

[sublime5447]

-snip-
I never thought I'd come here and get rich.

You post like you do.

I thought I'd come here and learn more about cryptocurrency. 

So, what changed?

There is very little work to be had in the world of Bitcoin.  Sure, there are some very specialized fields where people are making money.  The average guy, not so much.

What makes you say that?

The disparity between the rich and poor with Bitcoin is bar far greater than any fiat in existence.

Maybe, I dont know, do you have any stats to back your claim or do you just assume stuff?

It will not survive if this remains true.

Bitcoin is not the greate equalizier you think it is. Its a new form of money. Social imbalance is a social problem and should not be fixed by technical means, IMHO.

I came here as a hopeful nerd that was interested in Bitcoin.  I read about it over the past few years like most people.  I saw it as somewhat of a novelty.  Then I figured, I would look further into it.  I thought it would be an exciting place with a lot of activity.  Maybe somewhat similar to what a lot of people experienced with eCommerce in the late 90's early 2000's.  This doesn't feel anything like that at all.  Not even in the slightest.

Maybe I'm not viewing it as what it really is.  I thought of it as a new currency backed by people that really want to change the world as we know it.  There is far less change involved than what I was expecting.  I'm not sure what the motivation is for the people currently dealing with Bitcoin.  My guess is that it's mainly rich people or people with income sources that don't care if they lose it.  I don't see the average person putting their retirement savings in Bitcoin.

That is your problem right there (same as my problem) bitcoin is not a currency. Digital decentralized currency has not been created yet. Bitcoin is a digital collectable it transfers value the way a baseball card or piece of art would not they way currency does.


 

[seriouscoin]

-snip-
I never thought I'd come here and get rich.

You post like you do.

I thought I'd come here and learn more about cryptocurrency. 

So, what changed?

There is very little work to be had in the world of Bitcoin.  Sure, there are some very specialized fields where people are making money.  The average guy, not so much.

What makes you say that?

The disparity between the rich and poor with Bitcoin is bar far greater than any fiat in existence.

Maybe, I dont know, do you have any stats to back your claim or do you just assume stuff?

It will not survive if this remains true.

Bitcoin is not the greate equalizier you think it is. Its a new form of money. Social imbalance is a social problem and should not be fixed by technical means, IMHO.

I came here as a hopeful nerd that was interested in Bitcoin.  I read about it over the past few years like most people.  I saw it as somewhat of a novelty.  Then I figured, I would look further into it.  I thought it would be an exciting place with a lot of activity.  Maybe somewhat similar to what a lot of people experienced with eCommerce in the late 90's early 2000's.  This doesn't feel anything like that at all.  Not even in the slightest.

Maybe I'm not viewing it as what it really is.  I thought of it as a new currency backed by people that really want to change the world as we know it.  There is far less change involved than what I was expecting.  I'm not sure what the motivation is for the people currently dealing with Bitcoin.  My guess is that it's mainly rich people or people with income sources that don't care if they lose it.  I don't see the average person putting their retirement savings in Bitcoin.

That is your problem right there (same as my problem) bitcoin is not a currency. Digital decentralized currency has not been created yet. Bitcoin is a digital collectable it transfers value the way a baseball card or piece of art would not they way currency does.


 

Define currency then ....

LOL otherwise you're just another dumb ass ..... oh wait, you're sublime.... the famous bitcoin naysayer.