Quote from: WackyWilly on June 03, 2013, 10:00:09 AM

Quote from: Carlton Banks on June 03, 2013, 09:31:12 AM

Bitcoin's actual utility compared to Gold or the dollar is worlds apart, we know this already. And so, the only actual advantage that gold/dollar have is that of it's perception by the majority. We know that Bitcoin is a better a store of value, and better to transmit value with.

Well, let's be honest amoung us, BTC-proponents (yes, I am a proponent):

1. The actual utility of bitcoin may in some cases be a bit better than that of gold, but it is certainly not when compared to the dollar. Or any other fiat currency. Bitcoin is far from that level of utility. If you don't see that, you need to have a better look.
2. Perception of the majority (and trust in any asset) is always the issue. Be it gold. Be it USD. Be it real estate. Be it Bitcoin - TOO !
3. Therefore, Bitcoin will only be able to serve as a "better store of value" and means (utility) if it is supported by the general public.

If people don't support or value an idea/phenomenon, both of us may WISH for Bitcoin to be better than anything else, but THEN it's simply not going to happen.
It even might turn out (if people would walk away from Bitcoin) that Bitcoin turns out to be a worse means to store value. I would not expect that to happen, but it CAN happen: you peoples' support. Yours, mine, everyone else's.

Fact of life, sorry if this should wake you up in a rude fashion

the funny thing about bitcoin is the price doesn't matter as much as the utility. of course, giving something value in itself is a stupid thing to do but humans love stupidity so that is here to stay and frankly the only thing holding Bitcoin down is the fear that tyrants will fuck it up and they will and there's nothing you can do about it because freedom always has been and always will be one huge lie.