Quote from: errornone on July 23, 2015, 04:40:30 PM

Quote from: BillyBobZorton on July 23, 2015, 04:03:39 PM

Quote from: errornone on July 23, 2015, 08:40:28 AM

Quote from: Jhacker on July 23, 2015, 07:36:32 AM

Quote from: Anonymous on June 05, 2011, 03:50:32 AM

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

Long term, maybe. Where are the ads on TV advertising smartphone bitcoin wallets? Where are the armies of sales teams spreading it to merchants? Where are the large scale buys of bitcoin by banks, hedge funds, VC, and other institutions, driving the price sky high? The ability to do all this is there, but for some reason the wheels are not turning.

because you cant do nothing with bitcoin that you cant already do with fiat currency. this is the real and hard true.

You are insane. Just the fact you can send millions, OR a cent, all over the world, instantly, without failure (backed by the biggest network on the planet) puts this thing into double figure billion marketcap already. Think about the billions of unbanked people out there. People like you fail to get the big picture, and those are the ones that will indeed remain poor, because you'll sell way too early, or sell at all. A true holder never sells.

Without failure? I never had a failure payment with my bank, why in hell that is an advantage? Banks do that too, and you dont need to wait for confirmations.

Billions of unbanked people with internet and cellphones and banks to buy bitcoins... Lol right!

Maybe the poor here isnt me.. You dont know me, i dont know you. The only thing i know is that here are MANY people that want to be rich without hard work.. Sorry mate, that wont happen

You're both lucky and delusional. If you've never had a failure or double spend with your bank, count yourself indeed among the "elite" who have the luck of the gods. That's the lucky part.

The delusion is that it doesn't take "confirmations" and is instant. What is "instant" is a request for a credit or debit to the clearinghouse. This is not confirmed for up to 14 days. That's DAYS, not confirmations. Bitcoin is considered settled after 6 confirmations, and frankly is pretty certainly settled at three. In the time of that credit/debit confirmation via your bank and the other entity, you have an almost unlimited chance that the transaction will be reversed, adding many more days, possibly months or years, to recovering your property. I work for a company that routinely deals with the inner workings of banking. I'm not guessing or speculating here.

Block chain technology will almost certainly replace the confirmation/debit/credit system currrently in place at banks. It's just too soon. This will not remove the perceived need for such things as credit cards and other "instant" but reversible instruments, but it will certainly shorten the window.