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Author Topic: Why I doubt we'll ever go mainstream  (Read 2847 times)
Melbustus
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December 28, 2014, 06:27:33 AM
 #21

Newsflash, "The internet" wasn't google and facebook when it began to catch on. You had to figure out modems, diallers, TCP/IP stacks, unless you used it in a dumbed down sanitised version like AOL. Google and Facebook are 10+ years down the road, OF FUCKING COURSE bitcoin isn't that polished yet.


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December 28, 2014, 06:53:36 AM
 #22

When it comes to computers you got the big names creating the hardware and also the big names creating the software. It's all very centralized and "safe" for the consumer.

Windows = Very centralized, made by one of the "big names", you can't even look at the source code without signing a non-disclosure agreement (and even then, unless I'm mistaken, you can only see certain parts of it). There are more viruses for Windows than all other computer operating systems in the world combined.
Linux = Somewhat centralized in the sense that Linus does have the final say on what goes into the "official" kernel, but in practice it's much more decentralized than this. Linus is one man and must delegate a lot of that responsibility to other members of the developer community, additionally the source code is available for all to see and the maintainers of various Linux distributions can apply their own patches to the versions of the kernel that they release. When's the last time you heard of a Linux virus? What are the odds that that virus still works on a modern Linux kernel? That's right, while there have been a small number of Linux viruses, I don't know of a single one that will work on a modern Linux kernel. Android root exploits are a different story, but a lot of those come from modifications made to the kernel by Google and various phone manufacturers and wireless carriers. In other words, those vulnerabilities come not from the somewhat decentralized process of Linux development but from the centralized "big names" you praise so much in your post.

If you want to compare the two and decide which one is "safe" for consumers (not which one is convenient, which one is more popular, or which one is better for gaming) there can be no doubt in any reasonable person's mind that the less centralized approach wins.

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People generally don't like to waste energy by re-learning how do something (like making payments). If something works, it works. I watched that clip from letterman where he interviewed Bill Gates and everyone laughed at his visions of the Internet. Well the difference with Bitcoin is that since it's not centralised and therefore can't be controlled by the goverment (neither directly or through companies), leading it to the masses will be much more difficult.

People generally don't like to waste energy by re-learning how to do something (like watching movies). If something works, it works. [snip irrelevant part]. Well the difference with BitTorrent is that since it's not centralized and therefore can't be controlled by the government (neither directly or through companies), leading it to the masses will be much more difficult. This must be why everybody in the world buys DVDs, goes to the theater or buys their movies from a "legitimate" centralized download service and nobody has ever heard of BitTorrent... oh wait...

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I find it very unlikely to wake up one day, turn on the TV (or something like it) and hear the mainstream media praising Bitcoin.
Why? Because:
1. Mainstream media is centralised (=can be controlled by the government).

That much is true.. so why, then, have there already been certain mainstream media outlets who have had good things to say about Bitcoin?

Quote
2. Mainstream media only has room for simple "truths"

"Mainstream media" and "truth" rarely belong in the same sentence, and more and more people these days are beginning to realize that.

Quote
This way the service itself (which took action) is not to blame but the actual user who did it.

If you can't blame the centralized service controlled by a big company for some vulnerability that allowed something bad or illegal to happen, surely you can't blame a decentralized protocol that isn't controlled by any single entity and has no concept of "right and wrong" other than mathematical proofs that the protocol is being followed.

Quote
If an exchange is hacked then you'll read "Bitcoin Hacked!".

Then it is up to us to educate the mainstream media about what Bitcoin is and how it works. Then, if they still choose to misrepresent the facts with sensationalist headlines like "Bitcoin Hacked!" it's up to us to educate the general public, whose trust in the mainstream media is already failing.

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BTC service can in fact be misused with zero consequence.

Ask Charlie Shrem or Ross Ulbricht about how they misused BTC with zero consequence.

Quote
Bitcoin was hacked. See the simple logic going on here? No one's responsible.

There is no logic there, only a fallacy. If someone hacks your Facebook account, you don't say "The internet was hacked" simply because you use the TCP/IP protocol to connect with Facebook. Your argument, to me, mostly reads like "People are ignorant, so Bitcoin will never catch on" and this is the same argument people used ten years ago about the internet. This argument completely ignores the fact that as sentient living things, human beings have the ability to learn about things they don't currently understand and find uses for those things that they might not have though of before they learned about them.

Edit: At first glance, the BitTorrent argument might not make sense because it compares purchasing with "pirating" or "stealing". However, when you consider the old saying "time is money" it costs me much less to go to Walmart and buy a movie out of the $5 DVD bin and even to rip that DVD to my laptop if I want to than it does (in terms of time spent) to find a good torrent of that same movie and wait for it to finish downloading. Still, people spend much more than $5 worth of their time using BitTorrent to download movies when there are much simpler and more centralized ways to get them.

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December 28, 2014, 08:41:07 AM
 #23

I have my doubts too regaring how big it can become in steady state
That said, the apps now possible are amazing and I am intrigued by what decentralised trust makes possible

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December 28, 2014, 08:42:34 AM
 #24

https://theumlaut.com/2014/01/08/bitcoin-internet-of-money/

Still one of the best articles out there in my book...

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December 28, 2014, 08:43:32 AM
 #25

Crypto may go mainstream one day. BTC? Less likely so.
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December 28, 2014, 08:48:01 AM
 #26

Crypto may go mainstream one day. BTC? Less likely so.
Unless there is a breakthrough in transaction technology, Bitcoin is the clear winner. The chances of another Black Swan event in the next decade? Near zero.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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December 28, 2014, 11:35:43 AM
 #27

Actually bitcoin going mainstream is already happening.
Not everyone started using computers overnight.

This process will take years. Deal with it.

Ask the stranger he knows who you really are.
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December 28, 2014, 11:40:53 AM
 #28

I agree but some of your logic is flawed, e.g. do you think companies like Dell, HP, Samsung were big BEFORE they released their technology? saying computers owe there success because big companies got behind them is quite the oxymoron.

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December 28, 2014, 11:58:53 AM
 #29

Newsflash, "The internet" wasn't google and facebook when it began to catch on. You had to figure out modems, diallers, TCP/IP stacks, unless you used it in a dumbed down sanitised version like AOL. Google and Facebook are 10+ years down the road, OF FUCKING COURSE bitcoin isn't that polished yet.


This is the image you were looking for to accompany that post:


https://twitter.com/ahaseeba/status/539247755341070337/photo/1

If you were a Windows user and do not know what TUCOWS was, then you were not there when the internet started to take off.
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December 28, 2014, 03:04:13 PM
 #30

On the mainstream media issue.  There main concern is selling adverts.  They do that by having sensationalist stories.  So right now they talk about how dangerous bitcoin is, how it is used from drugs and possibly terrorist, but in a couple of years if Bitcoin starts to actually do something serious, then they will sell stories about how bitcoin will take over the world, its sensational rise, the mystery of its founder and so on. 

They just want to sell commercials and they do that via making mountains out of mole hills.  But when it come to Bitcoin and our next good run, they will be saying, "back from the dead" and "will bitcoin be king".

If it can be digitized, it should be decentralized
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December 28, 2014, 03:32:22 PM
 #31

Newsflash, "The internet" wasn't google and facebook when it began to catch on. You had to figure out modems, diallers, TCP/IP stacks, unless you used it in a dumbed down sanitised version like AOL. Google and Facebook are 10+ years down the road, OF FUCKING COURSE bitcoin isn't that polished yet.


This is the image you were looking for to accompany that post:


https://twitter.com/ahaseeba/status/539247755341070337/photo/1

If you were a Windows user and do not know what TUCOWS was, then you were not there when the internet started to take off.

Remember "web rings" before all the search engine indexing happened? I used to click through web rings until I realized I had clicked through the same sites a dozen times.

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December 28, 2014, 05:52:32 PM
 #32

You are complicating things too much. With time, bitcoin will be easier to use, then, it only takes celebrities talking about it in twitter and "making it a thing". If all these people that move tons of traffic, start making twitter posts about it and making it sound cool, then people will jump on in and then snowball effect will ensue. It will only take a day where it just becomes cool to use bitcoin, then we'll see starbucks filled with people paying with bitcoin and whatnot.

Bitcoin itself may not go mainstream, but the blockchain idea definitely will. This is going to be a revolution, and 10 years from now you will be remembering these early days and realize you never expected to work out this way.

I imagine all those using Netscape had no idea what it would be like when Android phones would arrive.

This also, even if btc fails (which will not) the blockchain yet will go on. And if anything BTC would have a "historical collectible" value, as the first serious attempt at a crypto currency ever.
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December 28, 2014, 06:02:34 PM
 #33

Actually bitcoin going mainstream is already happening.
Not everyone started using computers overnight.

This process will take years. Deal with it.

If the Winkle twins are able to get Wall Street involved, we could see a Chinese type boon all over again.

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December 28, 2014, 06:14:46 PM
 #34

Mainstream adoption is happening but it is very slow, it will take some more years.

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December 28, 2014, 06:16:42 PM
 #35

If the Winkle twins are able to get Wall Street involved, we could see a Chinese type boon all over again.

seems people like you only care about the price boom and not the usage boom...

i think anyone only thinking about the price has never left their basement to try talking their local grocer into accepting bitcoin..
and as such, those lazy a-holes that want other people to do the hard work while the a-holes make fiat profits.. dont deserve any such profits.

going mainstream is not about price rise, its about usage. so instead of arguing that bitcoin will or wont go mainstream or that the price will or wont rocket.. and simply go talk to your landlords, grocery stores and gas stations and get them to accept bitcoin.

after all if everyone does their part to ensure bitcoin usage in their own area, the end result is that all area's are covered.

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December 28, 2014, 06:39:48 PM
 #36

Why bitcoin will never go mainstream is pure and simple and this forum is a perfect example of why, even in here we have tons of got lucky and got rich quick vets who think their shit dont stink and have no idea what an investment is nor how to secure that investment, no one is concentrating on what bitcoin really needs, an no one is taking the time to secure their investments. Bitcoin will not go mainstream, pure and simply becasue no one who has the coins to make it happen wants to do the work involved to make it happen. they are sitting back with their hands out and waiting for you to do the work for them so they can reap the rewards of your hard work. What needs done will never get done until a lucky young investor who really knows what investing is about steps in here and takes this industry to level the vets here now would be amazed at.

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December 28, 2014, 06:44:43 PM
 #37

If the Winkle twins are able to get Wall Street involved, we could see a Chinese type boon all over again.

seems people like you only care about the price boom and not the usage boom...

i think anyone only thinking about the price has never left their basement to try talking their local grocer into accepting bitcoin..
and as such, those lazy a-holes that want other people to do the hard work while the a-holes make fiat profits.. dont deserve any such profits.

going mainstream is not about price rise, its about usage. so instead of arguing that bitcoin will or wont go mainstream or that the price will or wont rocket.. and simply go talk to your landlords, grocery stores and gas stations and get them to accept bitcoin.

after all if everyone does their part to ensure bitcoin usage in their own area, the end result is that all area's are covered.

This is actually a very good point. The only real way to increase the value of bitcoin is to spread awareness and adoption. Tell everyone you meet about it and ask and pester merchants to accept it and make sure you tell everyone of the benefits of accepting and dealing with it.
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December 28, 2014, 07:38:58 PM
 #38

Guess nobody watched the Bitcoin Bowl? lol. If ESPN ain't mainstream, then I guess we'll never make it at this rate.  Wink

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December 28, 2014, 08:03:56 PM
 #39

From the history we learn that any new, revolutionary method or way, any discovery which could improve people's life, always stated slow and very few people trusted in the begging, like TV, Train etc.
Read this stories, it's really interesting Smiley
But, on the end, after a lot difficulties and obstacles, people accepted and it became mainstream.
So, don't judge BTC based on the current status, but look in the future and believe!
I'm sure BTC will very soon become mainstream because people will see many benefits of using it!

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December 28, 2014, 09:04:18 PM
 #40

virtual currency will go mainstream. Bitcoin has the best chance currently.

Decentralization is how natural markets work.

For example the gold/silver market started as decentralized as gold and silver were dispersed in all parts of the world. Now we have some centralized stashes but it is still decentralized to a certain extent and that has been over the course of thousands of years.


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