Quote from: jwilford on November 21, 2014, 10:08:17 PM

Quote from: fryarminer on June 21, 2014, 09:18:23 AM

There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail.
There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg.

Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin.

This industry had plenty of money invested and literally worked themselves out of a job because they did not consider the external costs of their actions. This is going to be the same as BTCitcoin the industry will mine itself to death and fail. But I think just like the 16th century energy market that people will never look back and this will lead to a currency/internet/blockchain revolution. But I do not think that Bitcoin will be the end all be all. To be honest I don't think it has much life left. I am just hoping it can last long enough to expand crypto adoption. I am selling out and moving on to NODE since I think the better network topology of PoA is more sustainable but who knows something better may come along or NODE may fold up due to marketing or development shortcomings. I don't see this as a failure for Bitcoin it had it's role to play but I think that time has come and is going. A nostalgic part of me hopes I am wrong but the economics and history say otherwise. Time will tell.

bitcoin will fork before it fails, but in doing so may hand it crown to a contender.