Quote from: Benjig on August 14, 2014, 11:11:37 PM

Quote from: Anders on August 14, 2014, 09:07:46 PM

The original Bitcoin protocol is very innovative. However, there are several reasons for why today's cryptocurrencies will fail:

1. Too slow transaction times for general use.
2. Too bloated block chain for mainstream adoption.
3. Having to store coins "under the mattress" is a step backwards.
4. Proof of work will lead to too large transaction fees.
5. Proof of stake leads to the rich getting richer.
6. Lack of government support prevents mainstream use.
7. Trading against ordinary fiat currencies causes volatility.

Well if you see always the negative side of the thing nothing will be successful.. at least now we have those more reasoned arguments.. back in 2013 and 2012 people were saying bitcoin is a ponzi.

There will be innovations! Thomas Edison failed lots of times before he came up with a functioning light bulb. However, from a conspiracy theory perspective Cheesy

Bitcoin is an invention made by a big power group, and they are one step ahead and will introduce a new cryptocurrency and Bitcoin is "only" their pilot project. So the innovations in this case are then already done. I still think the bitcoin price may reach $5,000 though.