Quote from: KingScorpio on December 11, 2017, 10:06:31 PM

Quote from: btcbonanza on December 11, 2017, 04:10:38 PM

Quote from: Realist247 on December 11, 2017, 03:45:37 PM

https://www.technologyreview.com/s/540921/the-looming-problem-that-could-kill-bitcoin/

This was over 2 years ago. Those that ran the price up over the last $9000 probably have no idea about these issues. With things the way they are they will find out...and that's when the panic selling will begin. This is not FUD...it's FACT. Everyone was warned by the top dev...and nothing was done. Now is a good time for everyone to look into futures and options to hedge their bets if they cannot sell.

It is now evident that fees and scalability issue aren't the obstacle in the way of bitcoin and its price. If so is the case then people would have already migrated to any of the rest of 1000+ cryptocurrencies or there would have been flippening already with some forked coin. But this isn't the case. People aren't affected from transaction delay or high fees while purchasing bitcoins. The central idea behind bitcoin has been changed and people are more interested in buying, holding and selling at higher prices rather than using bitcoins in general transactions.

wow great then explain pls, why ireland electricity production is necessary for this "value storage" while there are people starving or wells cant be drilled? or children and schools dont have electricity for light or cooking in the third world, or where there are constant electricity shorages?

bitcoin is popular because the central banksters arent popular, in the nation state economy everyone is at risk except them, its now time they learn to live with risks, bitcoin drives its value from the banksters unpopularity many see bitcoin as their crypto hand granate against the banksters, they dont care weather they will grab for an alt coin later.

the tulp mania in the netherlands also changed the netherlands forever, tulps became the countries national symbol, but never again a house was traded for a "semper augustus"

bitcoin at its earliest begining marketed itself as low cost alternative to banks, now its an energy wasting high cost alternative to banks

regards

Well, bitcoin is wasting some electricity, that's OK. What I don't think is that Bitcoin uses as much electricity as banks. There are a few really big banks where only the HQs and the branches in capital citys use as much energy as Bitcoin itself with miners and users, etc. Big banks has not only HQs but branches at the countryside too, ATMs, etc, so they use way much more electricity compared to Bitcoin.
From this point of view, bitcoin can save some electricity compared to banks and can do the international money transfer with much less consumed electricity than a bank.