Why would people want to invest in 'Bitcoin'?

[deine mudder]

Yeah you are right that sucks.
But altcoin guys are bashing each other all day long.
Wasting their own time like Bitcoin is wasting energy.  

Too much dishonest crap. Clean and fair coins don't fight other coins and aren't fought normally. Agree there. Needs more quality-stuff with longterm plan and fair launch.

Bitcoin is original and all the other cryptoos are simply cheap useless copies .

Not true at all, we are seeing some impressive start ups rising, especially recently. I agree that the majority are cheap ass copies, from 500 cryptos i would say like 1-2% have innovated further than bitcoin as an extra service layer benefiting crypto technology in general. Saying all the others cryptos are cheap useless copies is utterly retarded and more a statement from a desperate bitcoin bagholder.

+1

x-Still anonymous, decentralized peer to peer money
x-Multisignature transactions
x-Can be used for Remittances
x-Transfer money overseas quickly with low fees (fees aren't low much  longer, more than 8$ for a transaction, they have never been low)
x-Still faster than the 2 or 3 days credit cards take to confirm a transaction (slowest cryptocoin of them all)
-NY Bitlicense current draft appears lenient towards regular Bitcoin holders
-More and more adoption: Dell, Overstock, Expedia, Newegg, Microsoft (they will welcome another more stable crypto too when it brings them business and has the cap)
-NYSE just invested in Coinbase contributing $75 million in funding (investement in cryptocurrency not directly into bitcoin, the coin)
-COIN ETF will launch this year (not sure)
-Winklevii look to legitimize Bitcoin based exchanges with Gemini, more transparency than foreign exchanges (an exchange as sellingpoint?)
-Paypal imminent Bitcoin payment option launch (not true, only experimenting in the US)
-Bitcoin mining difficulty and hash rate plateauing, causing massive farms to shutdown, making it a more even playing field (only because price sucks)
x-Immersion cooling upcoming standard for miners, lowering cooling costs of these farms, and lowering overall operational costs
x-Excellent alternative to the traditional banking system, especially for the unbanked in 3rd world countries that don't have access to it.
-Continuous mentions, exposure, and evangalism like what happened a couple of days ago at the Davos world economic summit (proud of hype?)
x-More and more Bitcoin ATMs sprouting up throughout the world  
-Andreas Antonopolous releasing "Mastering Bitcoin" by O'Reilly press (so what?)
-Bitcoin is still only early beta stage, Year 6, version 0.9.3 of Bitcoin Core.  We still have a long ways to go.
-Continuous VC investing, promising startups, hollywood taking notice, non profit organizations adding as donation options
-Xapo debit card, Purse.io, Gyft, Brawker, Open Bazaar, Lighthouse, Coinbase, Bitpay, Secondmarket, BitGo, Robocoin, Blockchain, BitWage, breadwallet, Ledger, Trezor, Lamassu and countless other Start ups and Bitcoin based companies sprouting up continuously

x=not exclusive bitcoin, but other crypto same points

[R2D221]

It is slow (1 hour transactions).

What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.

[deine mudder]

It is slow (1 hour transactions).

What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.

well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market

Slowest coin of them all. It's a joke.

[ChuckBuck]

@deine mudder

I'm guessing you're a Litecoin fanboy.

To each their own.

[R2D221]

well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market

Slowest coin of them all. It's a joke.

Exactly where have you been shopping? 3 confirmations is still a lot.

[deine mudder]

improved OP

--------

@deine mudder

I'm guessing you're a Litecoin fanboy.

To each their own.

->

- ninjamine by small group without much public -> very bad distribution

----------

Exactly where have you been shopping? 3 confirmations is still a lot.

name an exchange that takes less than 3

[RodeoX]

well, most places take minimum 3 confirms and many take 6
from broadcasting the tx until 1st confirm can take up to 15 minutes, lately more than 10 minutes for a confirm. Not transacting under 40 minutes - very annoying in this volatile market

Slowest coin of them all. It's a joke.

Exactly where have you been shopping? 3 confirmations is still a lot.

It is a lot, in fact it's too long for a cup of coffee. So the appropriate number of confirmations for coffee is zero.  Just as McDonald's takes credit cards they can't confirm, BTC businesses can take the risk. It would be a big deal to set up and all the criminal gets is a cup of coffee. The restaurants I have ate in never wait for any confirmation. Now If I were selling a jet airplane I would want a full 6 confirmations, but whats an hour wait for a jet sale?

[ChuckBuck]

OP, if you're heavily Litecoin invested, I'd suggest you jump on a sharp sword instead, it'd be a swifter death.

Litecoin's own inventor is jumping ship pretty much:



No VC investment, no development, nobody really buying LTC...stick a fork in it!     

And please don't mention one of those suckcoins like Paycoin, or NXT, or Ripple, or Pizzeria UNO, or Peercoin, or Maidsafe, or Stellar....Ain't nobody supporting or buying into those copycats!   

[HarmonLi]

It's the most widely known representative of a decentralized currency that runs on distributed consensus. All the caveats you mention effectively don't matter. They could be changed if we needed to. Please provide solid arguments why they make Bitcoin a bad crypto coin!?

[Beliathon]

Try another question:

Why wouldn't people want to divest from the scamcoins that are inflation based violence-backed government debt tokens?

Answer:

Mass indoctrination

[R2D221]

Exactly where have you been shopping? 3 confirmations is still a lot.

name an exchange that takes less than 3

I wasn't talking about exchanges. I was talking about using Bitcoin as money (you know, buying stuff).

All my online purchases with Bitcoin have accepted unconfirmed transactions.

[fenican]

I suspect instances of fraud would be extremely rare in brick and mortar establishments. Most shops have cameras in place and many ask for ID on all transactions including credit cards.

Six months in jail is a steep penalty to pay for getting a free "double spend" coffee.

[minerpumpkin]

Bitcoin is just completely different compared to all other currencies, commodities, stocks, etc. It's unique in its own way - don't get me started on altcoins. It fills many niches, like already mentioned, and will offer possibilities we can't imagine just now!

[Morbid]

everytime i read posts like this i pretty much become convinced that now is the time to buy..

[jaberwock]

It is slow (1 hour transactions).

What, are you buying a house? If not, waiting for 6 confirmations (1 hour) is just ridiculous. If you want to buy coffee, an unconfirmed transaction is enough to accept it.

there are some tricks for accepting 0 confirmations safe, even for bigger amounts(like connecting to several nodes to see if there is divergence among what they see)

Anyway buy a house or a car will take more than 1h even if you do instant transaction

[Q7]

If it true, bitcoin would be long gone by now. And I'm just wondering why all the cryptos are still using btc as benchmark for price comparison. And the worst part which you mentioned is the logo. I would strongly disagree because I think btc has the best brandable logo and easy to remember name. None of the altcoins came logo to that.

[thejaytiesto]

OP, if you're heavily Litecoin invested, I'd suggest you jump on a sharp sword instead, it'd be a swifter death.

Litecoin's own inventor is jumping ship pretty much:



No VC investment, no development, nobody really buying LTC...stick a fork in it!     

And please don't mention one of those suckcoins like Paycoin, or NXT, or Ripple, or Pizzeria UNO, or Peercoin, or Maidsafe, or Stellar....Ain't nobody supporting or buying into those copycats!   

Well he's right, Litecoin works as it is, it was intended to be an alternative to BTC, thats all. For revolutionary stuff you have MaidSafe, Litecoin is just a coin.

[PaulPierce]

- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)

uhmm wasnt it falling all the time? at least thats what i see from your posted link

Indeed it is falling slowly.! atleast thats what I know.!

[minerpumpkin]

- average cost for 1 transaction today: 8.20$ and expected to rise (INSANE!!!)

uhmm wasnt it falling all the time? at least thats what i see from your posted link

Indeed it is falling slowly.! atleast thats what I know.!

Well, the fact that a transaction is supposed to cost $8.20 is just false. These numbers are derived from the fact that the initial distribution of all allotted coins coincides with the transaction of existing coins.

[chipmadness]

bad reputation from early history (drugs, guns, childporn, darkweb ...)

I think every currency has this problem.....