Quote from: ringsting on December 19, 2013, 09:44:49 AM

Quote from: Erdogan on December 19, 2013, 09:13:50 AM

Quote from: ringsting on December 19, 2013, 04:34:37 AM

Bitcoin has two main value propositions, it is a cheap fast international money transfer protocol and also it is a decentralised store of value. Anyone who does not have vested interests in the current system is going to embrace the money transfer part.

The store of value is the controversial part, there lots of people that are semi religious about the decentralised store of value aspect, and unsurprisingly the people who benefit from the current system hate it. There are two very loud mouthed extremes, but to be honest I don't think that there is much mass on either side. Most people simply care about getting stuff in a convenient, fast and safe manner. Whether the money is government controlled or not does not matter to most people(hell, most don't even understand). I think that if the is mass uptake of bitcoin it is not going to be because of the store of value benefits, I think it will be because of the freedom the transfer system offers.

Quote

The price could drop to $1.00 tomorrow and it wouldn't phase me.

I'm sorry, but if anything I owned dropped that much in value in a week it would phase them. If not could I please have all your stuff?

I think freedom is also a part of the store of value function of bitcoin. Now, saving in money is discouraged and made impossible. They want to manage the economy to a larger output than what it will have by its natural pace. But this is not freedom, freedom is when each individual decides for himself how much to work, when to consume, when to save and when to invest. In addition, they will not be able to force the economy this way, the result is misallocation of resources and lower economic output. So they are uninformed and makes thing worse, not counting that they can also enrich themselves. Bitcoin can fix this by allowing people to save in money.

I'm not saying your wrong, I'm just saying that most people don't care (or understand) about what you have just written and so in reality it probably has very little to do with whether or not BitCoin will make it mainstream.

I'm ok with that.