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Author Topic: Why bitcoin is in big trouble and is ultimately doomed!  (Read 11506 times)
MoonShadow
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July 09, 2012, 06:53:38 PM
 #81

Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.

Really?  I didn't get that at all.  You came into our house and took a crap on our kitchen table, so I would think that the responses that you've received so far have been relatively civil.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 09, 2012, 07:07:55 PM
 #82

Suggest that OP do some research on older threads before posting.  The same arguments are made over and over.  Nothing new here.

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pekv2
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July 09, 2012, 07:36:20 PM
 #83

Suggest that OP do some research on older threads before posting.  The same arguments are made over and over.  Nothing new here.

^

Bitcoin is here to stay as long as the users wants them to be, just like someone stated, just like beaniebabys. Bitcoin is not doomed and are not in trouble at all. Those are my thoughts on this subject.

/end
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July 09, 2012, 07:39:56 PM
 #84

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~
mccorvic
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July 09, 2012, 07:43:18 PM
 #85

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?


He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

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adamstgBit
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July 09, 2012, 07:44:46 PM
 #86

Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.

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July 09, 2012, 07:45:52 PM
 #87

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~
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July 09, 2012, 07:47:53 PM
 #88


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

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drrussellshane
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July 09, 2012, 07:50:13 PM
 #89


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

It's kinda funny that he used the word "cryptowar"...

Posting on the open, public forums of your "enemies" is hardly what I would call "crypto".

Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
adamstgBit
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July 09, 2012, 07:51:40 PM
 #90

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


he got his loan sold it all (at 6.50), got tired of waiting for the price to drop.. so he posted this bs?

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July 09, 2012, 07:52:05 PM
 #91


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

It's kinda funny that he used the word "cryptowar"...

Posting on the open, public forums of your "enemies" is hardly what I would call "crypto".


Well, we are clearly dealing with a mind of the highest caliber here.  We could but only dream of understanding his methods.

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9.9.2012: I predict that single digits... <- FAIL


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July 09, 2012, 07:59:23 PM
 #92

Yes! Buy as much as you can! Not just BTC but alt currencies too...

Hacked account again?
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July 09, 2012, 08:02:24 PM
 #93

Yes! Buy as much as you can! Not just BTC but alt currencies too...

Hacked again?

No. Just trying to get his post count up there so he can ask for that 1000 BTC loan again and hope some sucker gives him the coins.

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July 09, 2012, 08:09:02 PM
 #94

No. Just trying to get his post count up there so he can ask for that 1000 BTC loan again and hope some sucker gives him the coins.

I enjoy the idea that he thinks that anyone who'd be able to give him a 1000BTC loan wouldn't look at his previous posts.

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The revolution will be monetized!


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July 09, 2012, 08:13:08 PM
 #95

Another one of these threads. haven't seen one in a while.
You know what I have never seen? Someone willing to sell there coins to me cheap. If the sky is falling why won't you sell me some coins at $5? I can help you out before they are worthless. let me guess, your not willing to sell either. This is just a public service announcement because you care so much.  Roll Eyes

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Raoul Duke
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July 09, 2012, 08:14:39 PM
 #96

Stupid OP is stupid.
I was thinking to myself, why bitcoin and similar crypto-currencies seem to be so hidden in obscurity that nobody knows about it, apart from a small number of us here. I thought to myself, the media may not always portray things accurately, but in the internet age alot of websites have sections where you can post comments. I decided to try it out and posted to several news articles which were relevant to economics/business and put short messages about Bitcoin. I was wondering whether anyone thinks this is a good idea, and whether more of us should do this, after all we do all have a stake here if we own coins or are invested in the community here...

Let me know what you think and what your opinion is...

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July 09, 2012, 08:16:44 PM
 #97

5 pages of responses to the OP with half a turd of a brain.

After reading the OP it wasnt hard to see he has zero economics experience or any idea how the financial industry works. OP you should definitely go hang out on 4chan or somethingawfull because I am sure they are short a moron by now.

My timeline on OP:

- Got 1 or 2 cpus mining litecoins
- Value of litecoins moved up even though it still wont take much to crash the price continously for the lulz
- He is now excited about his $4 in "profit"
- He wants to be a big playa now and thinks if he makes noise everywhere about bitcoin being bad he could push the litecoin price up.

I have news for you OP, litecoin will more likely than not take another crash dive real soon when the big dump comes-a-flying.

...In the land of the stale, the man with one share is king... >> Clipse

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July 09, 2012, 08:18:56 PM
 #98

I'd wager OP is kicking himself right now for creating this thread and undoing all the work he did building up a scammer account.

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July 09, 2012, 08:21:46 PM
 #99

5 pages of responses to the OP with half a turd of a brain.

I thought for sure you were going to follow that with how stupid we all are for risking our limbs to feed it. =)

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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July 09, 2012, 08:30:12 PM
 #100

I have news for you OP, litecoin will more likely than not take another crash dive real soon when the big dump comes-a-flying.
I'd crash it if I could be arsed to pull that old wallet out of my backups. But they aren't worth enough to warrant the hassle.

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