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lyth0s
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February 22, 2015, 07:56:17 AM
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When most anti-bitcoin people talk about bitcoin all I hear is how the price is not stable and it can't be used everywhere yet and not everyone uses bitcoin yet. To me this just shows how much growth potential there is with bitcoin. It shows me how much added value bitcoin will/would have with massive acceptance and usage. To me the fact that the bitcoin economy is growing and it continues to get new developments (think Bitcoin 2.0 world) shows me that it's on the right path to increase in adoption and usefullness.

Why do people see "doomed to failed, because it's not already big", while I see "Has tremendous growth potential, because it's not already big nor the defacto world currency".

All opinions, insight etc is GREATLY appreciated. I seriously have the hardest time wrapping my head around this one.

Bears feel free to flame-on, I'm greatly interested in what you all have to say along with the bulls.

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waterpile
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February 22, 2015, 09:31:26 AM
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Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith
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February 22, 2015, 09:50:02 AM
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The growth potential is there. There's no denying. In fact we can see more businesses starting to adopt bitcoin. But however, with the price fluctuating drastically this basically hinder more businesses to adopt the coins until it has become stable. Still a long way to go but yeah, we are heading in the right direction.

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February 22, 2015, 01:38:35 PM
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Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

"hacking" of the exchanges will stop once the owners back their bussines with their own personal funds. transparent ownership and bussinesses would stop all this.
Were long way from worldwide acceptance, but if that is to come, all those dreams of 100k / bitcoin might come true, like it happened with 100$ dream not do long ago.

cheers

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February 22, 2015, 09:01:38 PM
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Tons of banks in the early 1900's got robbed or went out of business, it didn't eliminate the need for banks. I think bitcoin will survive beyond the hacks. Maybe some bitcoin insurance agencies should be formed to cover people's losses.

People preach doom and gloom because they are focused on the news today, rather than the impact of that news over years. If you take a longer view of the currency you can see how it could become very successful. Also, the volatility of the price is a barrier for entry for new users. If I'm buying my first Bitcoin today I'd be pretty concerned that my $230 could become $120 over night...that's a scary thing! Why would I put my spending money into something so volatile?

SharkyBTC
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February 22, 2015, 09:42:19 PM
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Fun fact: most people are fools. Give it ten years and everyone will be kicking themselves for not jumping on the Bitcoin train earlier.

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February 22, 2015, 10:19:58 PM
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Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

You lost fait. Ok, tell me in who exactly you lost faith?

If you lost faith in the amateur and noob exchange operators I will 100% agree with you.

If you lost fait in Bitcoin, then you don't know what exactly happened.

There are so many people blaming Bitcoin for being unsecure while it is not the fault of Bitcoin.

Blame the shitty exchanges, they get hacked and robbed. Not Bitcoin.

lyth0s
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February 22, 2015, 11:00:44 PM
 #8

I had a really good response from another friend of mine which I'll share here for people that are truly interested in the general population's mindset.


Quote
Some people only see the reasons not to do something, they scour their minds for the perceived reasons that something will fail. Complacency, procrastination and subrogation of their rights is easier than understanding, making your own decisions and and taking responsibility for your own life. They enjoy relying on the current system to take care of them.

I really think that says it best.

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waterpile
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February 23, 2015, 04:22:34 AM
 #9

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

You lost fait. Ok, tell me in who exactly you lost faith?

If you lost faith in the amateur and noob exchange operators I will 100% agree with you.

If you lost fait in Bitcoin, then you don't know what exactly happened.

There are so many people blaming Bitcoin for being unsecure while it is not the fault of Bitcoin.

Blame the shitty exchanges, they get hacked and robbed. Not Bitcoin.

I'm not blaming bitcoin, I just hate that these hacking is so common incidents that it would make an average joe think that holding to bitcoin is not safe..
lyth0s
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February 23, 2015, 04:25:04 AM
 #10

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

You lost fait. Ok, tell me in who exactly you lost faith?

If you lost faith in the amateur and noob exchange operators I will 100% agree with you.

If you lost fait in Bitcoin, then you don't know what exactly happened.

There are so many people blaming Bitcoin for being unsecure while it is not the fault of Bitcoin.

Blame the shitty exchanges, they get hacked and robbed. Not Bitcoin.

I'm not blaming bitcoin, I just hate that these hacking is so common incidents that it would make an average joe think that holding to bitcoin is not safe..

Holding your own bitcoin is relatively safe unless you allowed your computer to become infected with viruses/trojans etc. Allowing someone else to hold your coins for you is never safe. Would you allow a non-insured overseas 3rd party to hold all of your cash for you?

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February 23, 2015, 12:38:58 PM
 #11

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith
I hope you know not all these recent hacks were real. Some of them were simple inside jobs, where the owner or someone from his inner circle simply accessed the machine used to store coins and move the money to his own address. You can't simply hack a cold wallet and this is what happened in some of these cases.

waterpile
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February 23, 2015, 12:43:44 PM
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Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith
I hope you know not all these recent hacks were real. Some of them were simple inside jobs, where the owner or someone from his inner circle simply accessed the machine used to store coins and move the money to his own address. You can't simply hack a cold wallet and this is what happened in some of these cases.

Yes, well who knows what really happened. This kind of incidents is a bad image for bitcoin to a person who doesn't know much about bitcoin they would think it as an entire scam scheme..
AtheistAKASaneBrain
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February 24, 2015, 11:37:45 PM
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Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith
I hope you know not all these recent hacks were real. Some of them were simple inside jobs, where the owner or someone from his inner circle simply accessed the machine used to store coins and move the money to his own address. You can't simply hack a cold wallet and this is what happened in some of these cases.

Yes, well who knows what really happened. This kind of incidents is a bad image for bitcoin to a person who doesn't know much about bitcoin they would think it as an entire scam scheme..
It's a fact all clueless people tend to think when an exchange gets hacked bitcoin itself gets hacked. Sad to see.
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February 25, 2015, 04:35:53 PM
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Well, bitcoin is not going to coexist with Fiat, it will be there to pick up the pieces when fiat self destructs or at least the majority of people acknowledge the fact that Fiat is dying. Fiat without gold backing is not money. Bitcoin is already money due to limited supply and competes with Fiat and will likely win in the long run.

SimplisticStu
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February 25, 2015, 04:42:29 PM
 #15

When most anti-bitcoin people talk about bitcoin all I hear is how the price is not stable and it can't be used everywhere yet and not everyone uses bitcoin yet. To me this just shows how much growth potential there is with bitcoin. It shows me how much added value bitcoin will/would have with massive acceptance and usage. To me the fact that the bitcoin economy is growing and it continues to get new developments (think Bitcoin 2.0 world) shows me that it's on the right path to increase in adoption and usefullness.

Why do people see "doomed to failed, because it's not already big", while I see "Has tremendous growth potential, because it's not already big nor the defacto world currency".

All opinions, insight etc is GREATLY appreciated. I seriously have the hardest time wrapping my head around this one.

Bears feel free to flame-on, I'm greatly interested in what you all have to say along with the bulls.

I share your views, many see the immediate downfall, I see the potential.

I am happy to obtain and hold onto my BTC whilst trying to introduce others to the market.

I see the negativity everyday on here, I simply remember my ethics and belief in BTC

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February 25, 2015, 06:52:14 PM
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The potential is indeed a great one. True that bitcoin has a long way to go. But the price really affects the integration of merchants. The fluctuation in price scares away merchants because of its instability. Sure though, there might be some relevant growth if the adoption rate increased, but we have a long way to go. When the price sees stability, sooner or later the adoption rate will followed.

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February 25, 2015, 07:28:17 PM
 #17

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

You lost fait. Ok, tell me in who exactly you lost faith?

If you lost faith in the amateur and noob exchange operators I will 100% agree with you.

If you lost fait in Bitcoin, then you don't know what exactly happened.

There are so many people blaming Bitcoin for being unsecure while it is not the fault of Bitcoin.

Blame the shitty exchanges, they get hacked and robbed. Not Bitcoin.

I'm not blaming bitcoin, I just hate that these hacking is so common incidents that it would make an average joe think that holding to bitcoin is not safe..

Bad pr really scares the average joe into getting bitcoins. Of course, as long as there is money involved, there will be scammers, launderers and thieves trying to get into the scene and get some money. Bitcoin is also considered as money, so yeah, thieves, scammers, and launderers wouldn't be out in the scene as they will try and try to get some money out of people.

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February 26, 2015, 12:18:30 PM
 #18

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

"hacking" of the exchanges will stop once the owners back their bussines with their own personal funds. transparent ownership and bussinesses would stop all this.
Were long way from worldwide acceptance, but if that is to come, all those dreams of 100k / bitcoin might come true, like it happened with 100$ dream not do long ago.

cheers
so you are saying that if a hacker knows who he is robbing, he wont do it?
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February 26, 2015, 02:19:59 PM
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When most anti-bitcoin people talk about bitcoin all I hear is how the price is not stable and it can't be used everywhere yet and not everyone uses bitcoin yet. To me this just shows how much growth potential there is with bitcoin. ...

When most anti-BTCeanie BTCabies people ... to me it just shows how much growth etc., etc.

Tons of banks in the early 1900's got robbed or went out of business, it didn't eliminate the need for banks...

That's 'coz there was an initial need for banks.  No need for Bitcoin.

...Give it ten years and everyone will be kicking themselves for not jumping on the Bitcoin BTCeanie train earlier.

...
Blame the shitty exchanges, they get hacked and robbed. Not Bitcoin.

Unlike fiat, Bitcoin has no mechanisms for dealing with fraud.  BTC transactions are irreversible, and the currency is [half-ass] anonymous, which lends itself perfectly to scamming/theft.
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February 26, 2015, 02:29:19 PM
 #20

Its doomed to fail if every bitcoin related businesses gets hacked. After the recent hacking incidents im losing faith

"hacking" of the exchanges will stop once the owners back their bussines with their own personal funds. transparent ownership and bussinesses would stop all this.
Were long way from worldwide acceptance, but if that is to come, all those dreams of 100k / bitcoin might come true, like it happened with 100$ dream not do long ago.

cheers

hacking" of the exchanges will stop once the owners back their bussines with their own personal funds. transparent ownership and bussinesses would stop all this.

What does this sentence actually mean? Does that mean every business present should reveal their owners and tell to the world that their business are backed by their own personal funds? Would that create some exception for them not to be target by criminals?

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