Quote from: msarro on February 19, 2015, 02:14:21 AM

Quote from: not.you on February 19, 2015, 02:10:35 AM

Quote from: bananafana on February 19, 2015, 01:43:52 AM

Quote from: jimmothy on February 19, 2015, 01:41:14 AM

Quote from: bananafana on February 19, 2015, 01:12:41 AM

Bitcoin will fade for the same reasons that first-generation technologies always fade. The sooner the better.

Completely wrong.

First of all, old technologies don't always fade.

Second, Bitcoin is constantly evolving. As soon as someone creates a coin that is not total shit, bitcoin will add it's features via sidechains.

LOL yeah, sidechains are the new hope.

First-gen technologies don't go away completely. I rode on a real steam train not that long ago, and I have a friend who still has a VCR.

Don't forget incandescent bulbs! Way better than CFL's.

Bitcoin suffers from block times that are too long to ever make it completely practical in a face to face situation (like in a brick and mortar store). Not impossible mind you, just not practical. And I see no way that there could ever be a consensus to change block times. It would require fundamental changes to the difficulty calculations and conceivably the total coin supply. In my opinion a digital currency with faster block times will eventually succeed where bitcoin never can due to that limitation alone.

I'd have to disagree. For most face to face transactions you simply would need the transaction to be broadcast, which takes seconds. Place an order on egifter using mycelium. The payment is nearly instantaneous.

If our face to face transaction was for a diamond ring or a Rolex there is no way in the world you would let me walk away with just a broadcast transaction. If you did you would be asking to get ripped off.