Post
Topic
Board Bitcoin Discussion
Re: Do you sometimes think Bitcoin will fail?
by
cyberpinoy
on 21/06/2014, 09:35:55 UTC
I am normally optimistic, but not in a good mood right now.
BTC is too hard for common people....Too risky....Confirmations sometimes take way too long....Competing with powerful forces in banking and Gov't....Bad rep in the media....child porn....gambling...drugs....51%.........blah, blah...
Do you sometimes think Bitcoin will fail?

Please be honest, that's all.


Edit:
Confirmations sometimes take Wwwaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy too long
The last block was 38 minutes ago and that is "not ready for prime time" or usable in the real world......We are delusional, this thing is not working!!   Shocked



Absolutely any investment can fail and Bitcoins is no different. If tomorrow every single person who had bitcoin decided not to use them and absolutely no transactions were made for a month, yes this system would fail. If you allow anyone no matter if its a bank, a government anyone in those areas, if they are allowed to control this currency you can bet your donkey it is going to fail hard and fast.

Treat Bitcoins like any investment, know at any time it could fail, but why not ride the train until it does stop. If the strong big bitcoin holders out there were smart, they can actually control the future of bitcoins. Its really simple, they cant not control the coin itself, BUT they could do something that could control the success of its future, for a little while at least.

I keep watching, I see the mines pulling in millions of dollars a month, I see mines pulling in hundreds of thousands of dollars a month, but i dont see any of them actually investing in the future of the currency they are so involved in. It shows they are not business minded people, just hobbyists taking a stab at an investment and riding the train, not running the train just riding it. The more people like this we have invested in this currency the harder it will be to progress its future.