Bitcoin
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- 2,694 Responses
- 20020
VS
- 20020
And this little guy
- 20020
Maybe this too
I got chart, lots of charts!
- twooh0
I agree. Unfortunately the market was saturated with people only interested in making a quick buck, which is leaving people such as myself, in the loss. This is why we can't have nice things...
- 20020
^ this is why investment in traditional sense (buying stocks etc) is broken.
- scarabin0
so pretend all those people who got on board looking for a quick buck didn't and remove them from the equation entirely. bitcoin is STILL on the rise just as it was before them. we're experiencing china fallout now, yeah, but the fact remains that more and more businesses every day are accepting it as payment for their goods and services, which is what's important
- Except China makes all the things we buy...moniker
- +CableStudios
- -2002
- = 02002
- we were rising without china, remember?scarabin
- 20020
China fall out is a big fall out. Just lost out on 19% of the potential global market.
No argument that it could be a very secure and useful transaction tool but when it tries to a currency, ... problem.
- ukit20
Seems like right now there are only two main uses for Bitcoin, speculative investment or to buy from online marketplaces like Silk Road. It taking off as a currency would be dependent on retailers supporting it and creating the infrastructure around that.
- 20020
dumb ass currencies are not only used to buy and sell. this is very naive view of currency and this is why this is not a currency.
it is a limited transactional denomination. it is more like air miles in its transactional value. you can buy air miles but the value of the goods in exchange fluctuate due to other market forces.
- Whatever you want to call it. The use would expand greatly if there was a way to actually use it for regular transactionsukit2
- why not just buy gold?2002
- That's probably what investors are interested in.
http://www.bloomberg…ukit2 - BUY GOLD. YOU WILL BE VERY SURPRISED AT HOW QUICK THIS WILL CATCH ON.. WAIT AND SEECableStudios
- ALL CAPS ON EVERY POST2002
- ZOOP0
State run banks, telecom etc.
Yeah, China has a plan here... devalue the hell out of BTC then accumulate. After the target market is acquired reverse policy.P.T. Barnum would be proud.
*pure b.s. speculation
- "back by popular demand" hahZOOP
- NO "PLAN" THIS IS PURE FREE MARKET. VERY UNDERVALUED RIGHT NOWCableStudios
- WOW SO UNDER SUCH VALUE SO FREE MARKET2002
- 20020
manipulation of price and market by the few. 1% wins again
- 4.1% lost... to hookers & blowZOOP
- do they accept bitcoin? i know they use square....2002
- need a crystal ball to see this chart 1-2 years from nowZOOP
- HEALTHY - SHOW ME A PIE OF USD.CableStudios
- http://spicedblog.co…2002
- maybe you meant this? http://i.istockimg.c…2002
- Troll much?CableStudios
- CableStudios0
GOLDFISH - APRIL
- Bubbles don't crash 5 times.CableStudios
- HOLD OUT FOR THE NEXT SURGE !!!!!!!!2002
- Lol. Heat seeking troll.CableStudios
- 20020
Lets go visit the facebook doubters thread
- Why don't you stay in the doubters thread? See you at 3,000CableStudios
- 20020
Who Owns the World’s Biggest Bitcoin Wallet? The FBI- Yeah, but it's encrypted. Know anything about that?CableStudios
- 20020
Here is another chart
- Ok, not its a bar chart. Lol - It's even more skewed for USD holders.CableStudios
- twooh0
No offense, but a lot of you guys here aren't seeing the pink elephant in the room here. The drawbacks are severe.
There are no chargebacks. Almost all vendors aren't going to support something they cannot be insured from, and you don't exactly hear the FDIC saying they're going to help.
Furthermore, BTC (in its current state), is way too volatile, making it impossible to put a fixed price on anything.
Lastly, China. If China says they're not going to support it, you're shit out of luck on BTC becoming relevant in Asia, or any businesses tied to the Renminbi.
If you go on any chat room, or exchanges such as BTC-E, it's full of speculators. Most people are interested in cashing out, and not seriously adopting it as currency.
All of you here who are gung-ho about it, are throwing charts as if they're supposed to mean anything. It doesn't.
I'm all for BTC. I like it, and I like the concept of it. But until it's somewhat regulated, and government supported, it isn't going to get much bigger than this.
- GO LONG?2002
- LOLformed
- < THISformed
- Yep. Full of speculators. Like the dollar. No charge backs like gold.CableStudios
- The government are trying to regulate. But you don't want that.CableStudios
- monNom0
The problem with decentralized anything is coordination. When you have a central authority to look to, you can get quick confirmation on the validity of a thing. When you decentralize, you need to check with everyone in the increasingly distributed network to confirm the validity of that thing, which takes time. It's like the military command structure vs the leaderless rabble. In the leaderless rabble, communication is slowed as the group looks for consensus.
I don't know how bitcoin would ever gets past that aspect of its design. Because it is anonymous, and it's only value is its anonymity, you defacto cannot have a central clearing house, or a trust-based last-mile like banks offer. IE: Banks can take 30 days to get their money from another bank on a cheque you cashed, but they'll give you the money right now if they trust you. Would anybody do the same with an anonymous and therefore untrusted network?
Beyond the fact that it's flawed as a real-time transactional currency, it's inherent value is in what you can buy with it... which is basically the things you need anonymity to purchase. When you take capital flight out of the picture (read: Chinese banned from using it), the rest of the market for the currency is pretty small -- small time drug deals, and other vices, but always small because anything large requires both parties to trust and verify the other end of the transaction.
Bitcoin will probably live on for some time, but I don't think it's going to supplant any other currency or commodity. What may do that is a centrally coordinated network, still based on math or some other unadulterable limit, but which builds trust into the system to allow for real-time/meatspace transactions.
- ukit20
Anonymous does not necessarily mean untrusted. Since every transaction is recorded into the blockchain, it's verifiable and the decentralized aspect shouldn't create a problem. There's no way to really "cheat the system" and spend BTC you don't have.
My question is what would get it to the point of being used on a mass scale. There's nothing right now to entice consumers into using it aside from the novelty factor of a digital currency. For businesses, it means setting up a new payment system and figuring out how to use it.
Imagine trying to pay for a meal at a restaurant using BTC. No one is going to want to login to your Coinbase account and enter the entire hash code when you can just swipe a debit card. You would need some kind of app on your smartphone that allows you pay with a single click (maybe by scanning a QR code provided by the business), then the business would need to verify on their end. Lots of effort just to say that you used Bitcoin.
- Yeah, It's not anonymous...CableStudios
- It could be if you cover your tracks well enough. Create an account using anonymous email, buy from someone on Local Bitcoins using cash.ukit2
- Local Bitcoins using cash. Not worth it for most people though.ukit2
- there are several of those apps already, and square will be supporting btc soon. nobody's typing blockchainsscarabin
- chossy0
What have you guys bought with bitcoin? apart from sess and guns? are the people on here like cablestudios for example actually using it as a currency or as I presume just buying it to sit on it and make money from it?
All I seem to be able to gather from all of this is that almost everyone has only bought in to make money and that's it?
- CableStudios0
Catch up!