Quote from: barabbas on December 20, 2014, 09:35:19 AM

Quote from: unusualfacts30 on December 20, 2014, 09:06:06 AM

Quote from: barabbas on December 20, 2014, 08:55:20 AM

Quote from: digicidal on December 19, 2014, 06:28:10 PM

Quote from: toknormal on December 19, 2014, 12:53:51 AM

Bitcoin is a monetary base......I'm in Bitcoin because of one thing and one thing only - an atrophying financial system that's on life support until something better comes along.

While I agree with you philosophically, it's pretty hard to look at the 2014 BTC chart and not say the exact same thing about it at this point.

Don't get me wrong - the "print more/borrow more" attitudes of the major economies are definitely a losing proposition... but unless you mined/bought BTC more than a year ago (or traded alts with reasonable success) - you'd have been better off just staying in cash. 3-4% inflation (or more accurately value-depreciation) seems like a screaming deal when compared to a 60% loss of value in a single year. Embarrassed

And BTC is one of the very best as far as coins that have survived a year or more... the rest are really scary.

This doesn't belong in here along with the nonsense and the lies of Zimbeck the Turd, but it is way more sensible and interesting that all of that crap.

A recent poll in the UK showed that more and more people is aware of the existence of BTC -first step towards actual participation- but ALL of those had heard of it mostly for the scams associated with it, which means that the adoption of BTC is progressing extraordinarily well in spite of that association, which is both remarkable and very positive for the future. A REGULATED future, mind you. There's simply no other way. Either the crooks are rooted out of digital currencies of these will cease to exist altogether within a few years. We all know the technology will indeed not just survive but thrive in fact, but no digital currency needs to be associated with it. And it won't unless the field is cleaned up in a hurry.

You're forgetting the fact that majority of those people look at bitcoin as commodiy. New buyers or not..they're not using bitcoins to buy stuff..they're using it as an investment and they convert it to fiat as soon as price has risen above their purchase price.

It doesn't fcking matter how many ATMs are created. If people can't see the technology and how it's beneficial to the world then there is no future to it. Period.

Smart thing would be to let everything survive and focus on the coin that you believe rather than trying to pull other crypto down because you believe in BTC. If yen, $, Euro, Denar and Pound can exist in the same world then there is no reason why Bitcoin, Bay, BC & DRK can't exist at the same time.

You are VERY wrong. There's no reason for altcoins to exist, none. The only "reason", the only idea behind them, ALL of them, is to bypass the rules of law. Everything else is just crap. That's on the philosophical side. In the practical side, the vast majority -I'd say 99%, are created with just one purpose: To rob investors. The technology is fully and permanently praised not just by the convinced but by everyone, from big corporations (IBM fully working on blockchain tech) to everyone even connected with banks across the planet. So no lack of recognition there.

But as long as fraud is rampant, obviously altcoins run out of cash available pretty quick, therefore the incentive disappears. If you want to identify a scam coin nowadays, you have only to watch one thing: How many BTC is invested in it. If it is over 200 BTC you can be 100% sure that the devs are "buying" their own coin, which means getting it for free. There are no exceptions to this rule, none. The last big draw offering, who sucked every coin left for VC were Ethereum and Supernet. After that, it doesn't make a difference what you put out there: Anything over a total of 200 (and that if it is wildly successful) is a scam. Period.

And that is why the alts are going to quickly disappear with very few exceptions. plus, there's nothing behind them. Those that look for (real) anon and "decentralized" shit or "smart" contracts, all gimmicks of no real value because they are hindered by something called LAW. And the LAW is created and paid to pursue and punish those who try to avoid taxes. Or contract killers. Or buy drugs or weapons. They (the LAW... or the law enforcers) want to control that shit because, obviously, it cannot let it in the hands of the crooks, even if many within the law are crooked also. So the idea of anything "decentralized" is an exercise in absurdity in the practical world -now or in the future- and, currently, just another scam tool -or gimmick, if "innocent"-. Same with anon. Same with "smart" contracts... when was the last time you heard of anyone being satisfied with purchasing anything or any service that doesn't have the other side fuming because it was "taken"? Never has worked in thousands of years. Never will. And that is besides the practical fact that leaving your money in the "hands" of a programmed algo is something that could beging to have "penetration" maybe hundreds of years into the future... to be quote optimistic.

I don't know if the majority of the people associate bitcoin with commodity.n If they do, that's far from bad. Personally, I see it as the best imaginable storage of value available, by leaps and bounds. As for people selling it when its price rebounds, it's called market place. And it is positive because it asserts the real value of the commodity all along. Do you think that the recent adoption -with many more coming- of BTC by giants like Microsoft and Time Warner happens at this point in time just by chance? If you do, you may be right but I am convinced that they are convinced the price of BTC has pretty much reached its lowest possible and that it will rebound and very significantly in the future, no matter -or perhaps because of them- how many people trade it and cash out the profits. I believe they are actually placing significant bets on it, all the more significant because they are -for them- minimal still, on one side, and on the other because, precisely because they are such big entities, they can afford to hold the BTC for a while, profitably, instead of being forced to convert to FIAT -for a price- instantly.

I could be wrong, of course. But I am betting on it.

Alright, I'll try assert my point with an example:

I as an investor finds out about bitcoin. I google it and find this forum..I look up some info and then all of a sudden I see "altcoins" section. I find lets say "DRK" and I like the technology and transaction time is faster than BTC. So, I buy some DRK and BTC. Next thing, I see some punks who thinks world revolves around BTC comes in DRK thread and start Fudding their nonsense therefore price of DRK suffers and it goes down the shithole forcing me to sell my shares.

How digusted would I feel towards the "digital currency" community as a whole?

I don't see the difference between BTC or DRK besides the name and transaction time. For you, BTC is big boy because you bought it when it first came out but for new investors it's nothing more than digital currency just like altcoins are. I think that's what most people keep forgetting. People who become interested in digital currency would lose interest the moment they see that it's jungle and nobody is interested in technology aspect of it.

IBM is also interested in IOT and I'm sure there will be new altcoin that's developed by them. What then? Would you get all pissy at them because they developed their own altcoin and all big companies are investing in it instead of BTC?

Another example: Reddit. They're going to come with their own altcoin..Are you going to get pissy at them? How are you planning to bring them down in case they become more popular than BTC?

You're assuming that they'll invest in BTC instead of creating their own altcoin and that's too far from the truth.