Quote from: Hazir on August 20, 2017, 07:20:22 PM

Quote from: CerealKing on August 20, 2017, 06:00:11 AM

4. Who really knows about Bitcoin? If it wasn't for me 90% of my friends would have never heard of it. My mom wouldn't have, my girlfriend... most people still do not know about Bitcoin in 2017 and the majority that DO know about it don't even understand how it works.

Bitcoin is still a relatively new concept and tech behind it is not widely known. This is only natural, give it time. How many people know about the Internet in the mid 90.?
Internet was used by crazy people who used modems and paid for every minute of connection, and no one knew exactly how it works either.
Look what happened to the Internet now - every single person is using it every day.

Half the people in the world still don't have internet connection. Of course I get your point though, but it's still yet to be proven that Bitcoin can be mainstream as the internet, or even facebook for that matter. There's also always something that can and will come up that could replace Bitcoin. A good example of that is MySpace was king in 2004, they had many opportunities to buy Facebook but refused. Facebook took over and won, Facebook knows that this is a good possibility that someone will someday overtake them, so whenever they see a company coming up, they don't make the same mistake Rupert Murdoch did, they buy it no matter the cost. WhatsApp was 19 billion dollars. They bought Instagram, they tried more than once to buy SnapChat with Mark Zuckerberg even going to their house and knocking on their front door personally, they refused to sell and Facebook copied their features in hopes of killing out SnapChat knowing it could be some kind of competition to them.

So now there's where other issues come in, something better will always come up. Satoshi is nowhere to be found and there are no owners of the Bitcoin system, thus they can not keep buying competition as they come up and threaten them. I don't think they can compete when other currencies come up, especially if one is so much better. People say Bitcoin is the father, therefore it'll remain. LiveJournal was the father of Social media, then Xenga, then Friendster, Hi5, MySpace... how many of you on this forum use those on a daily basis? how many use Facebook?

Plus this is all even considering that the government doesn't decide to ban it outright. I read on this forum somewhere yesterday how if the government banned it, people would still use it. People use drugs and that too, is banned by the government. Drugs has a real effect behind it, you get high, you have a feeling of joy. There are reasons people use drugs, they want that feeling of not being sober. You don't get any kind of high from Bitcoins, it is supposed to be a currency, if the government did ban it, how would you use it? to buy a house? a car? go to the store and buy groceries? If the government does ban it and you continue to use Bitcoin, you're doing for hobby purposes only. There's no real investment behind it anymore as it could not be used anywhere publicly, which is what a currency is meant to be used for btw.