Quote from: nomoreheroes7 on April 28, 2015, 02:56:09 PM

Quote from: MicroGuy on April 27, 2015, 03:11:52 AM

The price is going to continue falling. The main issue with Bitcoin is it's only really useful for criminals (drug dealing, money laundering, etc.)

Think about it: Why would someone convert their fiat into BTC so they can then go to Taco Bell, or Wal-Mart, or fill in the blank, and buy a bean burrito with bitcoin? The additional exchange step is unneeded. To make matters worse you have to keep a record of capital gains. And buying bitcoin is not easy.

Fact: Bitcoin is unneeded by 99% of the world population. It's a fun experiment with limited practical use.

Steve Jobs and Bill Gates created something that everyone wants, Satoshi created something that every criminal wants. Fortunately, there are a lot of criminals in the world to sustain the currency, but there's not enough ordinary consumer demand to get bitcoin mainstream.

This makes the most sense out of everything posted so far. BTC sounds awesome to libertarians/techno-geeks/criminals/gamblers such as us fine forum-goers, but we make up a pretty damn small portion of the world population. Joe Schmo doesn't care how his coffee is paid for as long as it's fast and convenient, and nothing beats credit cards/cash for convenience at this point.

We don't need Bitcoin as a payment system for coffee, steak, or whatever. We may need it to pay for our online purchases, for example if you don't want to give away your credit card information or have some distinct items on your credit card bill. I think we definitely need Bitcoin as the first open protocol for transferring wealth in which everyone can take part if they want to - without having to register, even. Also, Bitcoin makes for a pretty interesting asset. Why would people buy gold, actually?