Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

...With bitcoin, eventually the new coins stop and has no choice but to slowly become more distributed.

Nonsense. Nether gold nor BTCeanies become more evenly distributed with time.

Neither are really used to purchase everyday things.

Well duh, neither is Bitcoin. Not unless you got a heavy dope/gambling habit.

Who can honestly fall for this drivel.

Quote from: NotHatinJustTrollin on February 07, 2015, 11:22:05 PM

Quote from: dillpicklechips on February 07, 2015, 10:59:53 PM

Quote from: NotHatinJustTrollin on February 07, 2015, 10:53:47 PM

And that's ignoring the fundamentals, which are pretty bad by themselves...

Such as?

-The fact that nobody is really interested in buying bitcoin to mainly use it as a currency aside from illicit goods, but more as a wild musical chairs speculation instrument.

-the fact that merchants "accepting bitcoin" just create more selling pressure. Spending bitcoin = dumping bitcoin.

The idea behind the blockchain (a distributed ledger) has potential, sure, but the bitcoin blockchain and especially bitcoin THE CURRENCY are way too limited, in my opinion.

Centralised finance works just fine and while it might use the underlying technology/idea behind the blockchain, it doesn't need a new artificially limited, volatile, pyramid scheme-like currency.

For all we know:
decentralised ledgers = the internet
Any cryptocurrency like bitcoin = pets.com

Your first argument is a feeble attempt to push fallacy as fact.
Bitpay one of a few service providers says otherwise.

http://blog.bitpay.com/2015/02/04/bitcoin-and-bitpay-in-2014.html