Quote from: thelibertycap on February 01, 2015, 11:29:14 AM

Quote from: exocytosis on February 01, 2015, 01:41:44 AM

Quote from: sgbett on January 31, 2015, 12:13:43 AM

Can any of you permabears actually imagine a 'worldwide adoption' scenario and how that might unfold?

No. The blockchain can handle 2.7 transactions per second. Meanwhile, Visa and Mastercard are handling millions of transactions per second. Bitcoin offers no security and no benefit for the average consumer. It's extremely slow, expensive, unstable, unreliable, cumbersome, easy to steal, and user-unfriendly. Were it to be adopted on a really large scale, hypothetically speaking, the blockchain would reach a size of 100TB and beyond within days, making storage impossible. It's simply not scaled to handle actual real world use. It's scaled to be a small experiment among a couple hundred crypto geeks.

Speculative value can still increase, of course, even if the blockchain tech has no potential for real world use. But the only real value of Bitcoin lies in its use as a small scale currency among a marginal group of drug addicts and child pornographers on the deep web. The price will eventually go to the single digit range to reflect that fact, even if a new Willybot or Markus might pump the price briefly up to $300 before that happens.

Bitcoin had its fifteen minutes of fame. It's not something the average Joe needs or wants, and the price development is simply a reflection of that fact.

1. Bitcoin is a store of value that can not be manipulated. Visa is a company that sells plastic cards and a runs a transaction mechanism to exchange fiat.
It's Apple Computers vs an apple farm thing.

2. Please study Moore's law, 100TB is around the corner. My first hard drive was 20MB.

3. Fuck average Joe.

Exocytosis really is _the_ butthurt bull from the last bull run.

Posting about 100k coins in January 2014, being goxed, and then posting the same bitter doomer spam on price weakness. He is too chicken to actually short the market himself. Instead he degrades himself by bashing bitcoin here during price weakness with the hope of buying in at a lower price, when, magically the price will inexplicably take off into the stratosphere enriching him in the process of course.

If the price reaches even double digits (which is highly doubtful) then he will be too much of a chicken shit to buy in. Just as he failed to buy in at 160.