Everyone argues that Bitcoin will be extremely valuable once

>>998662
Blockchain technology will enable killer apps which will be so much better than traditional alternatives that people will have no choice but to use it

>>998681
Are you talking about simple contracts which don't require 3rd parties?

> Why haven't you gotten BTC?

1) It's been proven unsafe

2) I don't think it's gonna last for multiple reasons

>Implying Bitcoin can do anything for the average Joe that a credit card or debit card can't.

>>998698
Im not talking of bitcoin im talking about ethereum

>>998705
You are the same kind of person who still used a fax machine in 1999

>>998710
It takes less than 1 cent fee to do a transaction.

>>998662
The exponential growth rate in difficulty of mining new bit coin makes it a ponzi scheme. The people who jumped on bitcoin first have more bitcoins than will ever be "minted" for the rest of eternity. Not a game I want to jump into.

You need a country with a strong economy supporting it - if, and only if, it happens, each coin will easily reach $10K in a few week.
Barring that, the coin is doomed - settlers get rich, pioneers get slaughtered.

>>998782
no

https://en.wikipedia.org/wiki/Coase_theorem

>>998782
And this is why BTC is doomed without government support - the fuck you attitude created by the spite of those that ignored the coin during development.

>>998788
>economic theorem

Like I'm going to believe that bullshit instead of looking at the world around me. Wealth stays concentrated. I'm not making some group of NEETs the richest people in the world for being the first to collect seashells.

Also you can look at it this way.
>Goods are created faster than bitcoins are mined
>Goods go down in price to accommodate
>Bitcoin deflates
>there is no incentive to spend bitcoin
>deflationary spiral

If the rate was linear instead of exponential, we might be on to something. We wouldn't have a digital gold rush scenario in that case. But the jew miners that started it want their take.

>>998710
>Implying our economy and dollar isn't fucked and we have a choice

shit if we ever became in a dystopia using gold we minus well buy guns and food to rob the people hording gold use your head

>>998792
>>998782
makes it more believable why it's going to get mass adopted LOL

>>998705
>It's been proven unsafe

wut

It's arguably the safest thing ever

>>998775
Transaction fees aren't a concern for the average Joe.

>>998814
>/pol/ pls.

>>998843
The fees the merchant save switching from visa to bitcoin can be pass onto the consumers. Average joe care about getting stuff for cheaper. Merchant adoption will lead to consumer adoption. The average joe won't even know they are using bitcoin when bitcoin get mass adoption.

>>998843
No there it was from /k/ I came across a post of the estonian economic collapse, people were trading gold for BIC lighters and matches.

The people that owned guns, food and innawoods claimed they would just rob the people hording gold.

>>998857
Naw the test cases are already failing and merchants are beginning to ditch Bitcoin. Look at what happened with Overstock. Less merchants are using Bitcoin, not more. Sales numbers have been dwindling.

>>998994
What happened to Overstock? Looks like they are still accepting bitcoin.

http://www.overstock.com/bitcoin

>>998994
I don't recall overstock passing the savings to consumers. I don't recall any of the big retailer(Dell,Microsoft,Tigerdirect,Newegg) have any sort of discount for using bitcoin so it doesn't apply here.

>>998814
>minus well

Fuck me, this guy again?

>>999000
Not only did thier stock take a huge dump when they began to accept it but they also lost a ton of money on holding Bitcoin. Sales number are also down. They had a lot of Bitcoin sales in the beginning but now the novelty wore off.

>>999003
Exactly. It's dumb to think that merchants will pass the saving on. If anything they will just keep the amount that they save on transactions, if any. The same thing happened when credit cards came out. Can you name many examples at all where people pay less when they pay in cash?

>>999021
Bitcoin sales will likely go up though because the price is rising.

>>999025
Merchant aren't using bitcoin right now because Bitcoin is still in its infant phase. They would need to train their employee to deal with return using bitcoin etc. It is still a massive inconvenience to incorporate bitcoin. But they'll use it once they are comfortable with bitcoin because credit card fees are shit.

I pay gas with cash because it's less than with credit card. I buy car with all cash because I made a deal with the salesman in order to get it cheaper. I buy from Alibaba manufacturer using cash to get a better deal. There are many things people can get charge less when pay in cash.

I do not own any bitcoin but I follow it because I can see its potential(less than 1 cent fee to transfer infinite amount of money from one country to another and takes less than 10 minute) and I can also see government and current world elite to never let Bitcoin dominate banking. All it takes is for a USA government to make their own crypto or be in favor of a different crypto than bitcoin and bitcoin will crumple.

lol @ these are all the arguments nocoiners threw around when I bought at the 200s.

Those storefront check cashing places, where you can cash a check, buy a money order, small loans, etc. If they started selling BitCoin it could work.

I can't see wiring money to a stranger for a $12 fee, or meeting somebody in the park

>>999043
how is gas less with cash than cc? if anything, my gas is more with cc than with cash.

you sound like a fucking tool

>>998662
Problems are people don't understand it, it's hardly accepted anywhere, and people don't like gambling their money as it's seen as risky and a fringe currency.

>>999042
How do you figure that? Won't most people hoard while price is rising?

>>998797
Yeah, let's just ignore a bunch of guys with PhD's who have dedicated their lives to understanding economics. I know better cuz I can SEE DA WORLD MAYNE. DUDE.

Fuck off, retard.

>>998662
I honostly can't figure out how to buy bitcoin. So I'm not going to be using it.

>>999063
ok grandpa

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I think I'm seeing a pattern here

I bought at 600. Fuck bitcoin.

>>999043
How long are you guys going to pull the "infant phase" spiel? If that were the case then you would see an increasing number of merchant sales with Bitcoin over time. Which has not been the case. There were a lot of merchants who jumped to accept Bitcoin in the beginning because they knew the Bitcoin crowd would spend them there, and they could convert immediately to cash. Sales numbers are declining now after people realize it's actually less convenient to use Bitcoin for every day purchases unl as you already own it. The people that already own it are mostly hoarding it in case the value goes up. It's a cycle.

As far as using cash over credit card to reap savings, the things you mentioned are very select use cases. Buying a car in cash only is cheaper because people default on car loans. It has nothing to do with small fees on credit card transactions.

>>999077
you're fucking stupid

fuck you

>>999075
I've got 14k Beenz for sale. Make an offer

>>998717

I used a fax machine today faggot.

>>999077
I sold at 600 and only made 250k. Fml I really wanted to be a millionaire by the age of 20. Cash is already running low and im going to have to get a job soon. Fml

>>999216

Poorfag cubicle monkey confirmed

>>999222

You fucked off $255k being a lazy fuck? I hope you end up making min wage.

>>999222
How the fuck did you spend 250k in 2 years.

>>999226
>>999216
I still use fax machines : (((((

>>999069
Lots have probably been holding for a long time and want to spend.

>>998814
>>999010

>minus well
>might as well

Fucking kek!

Know how to spot the fool? He is still talking about btc as a currency or coin.
You can now buy in to the future backbone of digital finance and trust , but low iqs and grabdpas will never understand.

>>998681
Ethereum will change the world

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>>998662
Guess who know about the internet back then: Most people. Guess who used the internet back then: Geeks.

Also people will use Bitcoin even when they aren't using Bitcoin.

All blockchains that aren't Bitcoin's blockchain are a meme:

http://coinjournal.net/visa-europe-collab-epiphyte-blockchain-interview/

>Bitcoin will likely play a role in the future and other blockchains have to be considered “at this point vapourware.”

Even in the industry some are starting to get it.

Anything that's interesting the altcoin world will get assimilated by Bitcoin's blockchain thanks to sidechains (see Rootstock).

Altcoins, as in alternative tokens that aren't BTC, are a cope.

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>>998792
Govermint cu.ck exposed.

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>>999623
Too bad it doesn't work.

>>998824
can lose its value in few hours

safe. top kek faggot!

>>999630
And a few hours we will wait senpai ;)

>>999622
Yes Gulden is going to take over!

>>999630
Looks like it went up in 10-20$s from those hours we waited ;)

>>999622
Do you even read the links that you post?

>Visa Europe can process 1500 transactions a second, we clearly recognise that this is a very established, long built network which we are very proud of. We recognise that the Bitcoin blockchain network has no current mechanism to deliver services of that scale
The key here is that they are "exploring" blockchain technology just like other financial institutions. They created a proof of concept with mPesa and already realize that it doesn't scale well with the Bitcoin blockchain. Nothing to see here, folks.

>>999969
>Bitcoin will likely play a role in the future and other blockchains have to be considered “at this point vapourware.”
Read again
>Bitcoin will likely play a role in the future and other blockchains have to be considered “at this point vapourware.”

Whatever the fuck they do, it will run under The Bitcoin Blockchain which benefits Bitcoin. Bitcoin will also scale to global levels, study LN faggot.

>>1000866
>Jon Downing: At this point in time, this is our principal proof of concept that we are ready to show to the wider community. However, we are conducting internal tests to review the power and potential of private blockchains, multi chains and others.
Seems like they are just in the testing phase and they are also looking into private blockchains (hint: not Bitcoin). Although the article makes it seem like Bitcoin is "likely" going to play a role, if you read the whole article this is all just a proof of concept and not anything concrete. Like he said, he realizes now that the Bitcoin blockchain can not deliver anything to the scale in which Visa currently processes transactions.

>>999206
10 bucks

"The blockchain". They're referring to is Ethereum. This has been known for many months now.

The bank chains are all going to be built on ethereum without the need for sidechains.

Most fintech research is carried out in london, incidently where most ethereum dev activity is going on.

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>>1001270
Really?

>>1001275
Yeah. Bitcoin does not have the capability to run any bank transactions without using sidechains and all these time consuming workarounds.

With ethereum you can implement any coin on the main chain.

Homestead phase is due to end by the end of december, by then we will see big price increases because although ethereum will accept any currency for smart contracts, ether will still be the only currency that will recieve staking rewards when Ethereum moves to POS.

>>998662
Everyone already caught on to it, it's over. The bitcoin world was $10B at the max and the big investors recognized that a while ago. It's been un-dead for over a year now, it'll never come back alive. Everyone's realizing they need to stockpile physical cash so they can either take advantage of the next recession or at least be able to make it through without waiting on food lines. People aren't going to have money to afford $1 bitcoins when the global sovereign debt crisis hits, they'll all need the cash to support simple lifestyles.

The game's about to get nuked guys, it's been a long time coming and the markets been getting prepped for it this whole past year. Get the money while it's easy.

>>1001312
How do you buy it though? Im someone interested in it but cant figure out how to buy. What wallet? Dont know shit of code but wanna throw some money at it.

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>>1001325
Bahahehhahahhww...

I mean oh gosh darn it...

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>>1001325
Wait I can't tell if this is good for Bitcoin ELI5 and tldr pls

>>999077
Bull trap, volume is kill.

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>>1001332
obviously the topic was bitcoin
>>1001348
pic related the fox news bitcoin craze was when the world put a fork in bitcoin, it's done.

>>1001352
What's put a fork

>>1001352

except those massive volumes/price spike to 502 was a giant short squeeze

the fact that price recovered so rapidly to the 450 level shows the strength of the trend. There's going to be some bouncing around for the next couple of days around the 450-462 region before it breaks through on huge volume and we press onwards

miss the rally at your own peril

>>1001365
>TA
>Bitcoin
Not even once.

>>1001365
Bitcoin is going to jump up by a huge margin in less then 12 hours, I have a crystal ball that says so.

>>1001376
This.

Unrelated but I wish I could get in on some sweet bitcoin shorts right now.

>>1001376

spoken like someone with no knowledge of what he's talking about

>>1001378

you and everyone else on bitcointalk, eh?

>>1001415
>defends using technical analysis on Bitcoin
And I'm the one who has no idea what he's talking about. Lmfao

>>1001416

the problem with this is what exactly?

>>1001420
That you're an idiot lol

>>1001421

sweet argument bro

really convinced me with those hot opinions

>>1001437
Just like yours right?
>y-you don't know what you're talking about
Ok here's one for you:
>past performance is not an indicator of future results

>>1001360
Haven't you ever heard the phrase "put a fork in it"?

>>1001365
Stupid people buy zombie buttcoins on leverage, not sell them.

bitcoin isnt a real currency. central banks dont like the idea of it

its a fake commodity not a currency. its initially obtained through arbitrary interactions on the internet dubbed mining. your gpu tries to guess a complex shape. the winner gets one

there was no real buy in phase to legitimize it. random scraps of code on github have more real world value.

commodities have value because they are used for things. WTF can you do with a fragment of code off a hard drive? nothing. and thats all bitcoins are

nobody understands btc yet

>>1001858
>I don't understand btc yet

FTFY

>>1001839
You underestimate the value of a tradeable currency. The Spanish Empire was built by selling silver to the Chinese just so they could have a universal currency. It was really useful for anything other than trade. Besides all the paper and electronic cuurency we have todayis valueless as well so I really don't see your point.

>>1001839
money is information.

>>1001884
>The Spanish Empire was built by selling silver to the Chinese

Nope, it was built on advantage (first European country to "solidify" under a single rule), an experienced army (centuries of uninterrupted war make good warriors even out of farmers), and certain other things like disproportionate religious zeal and a general "us vs. someone else" attitude (which still exists today and it´s one of the things keeping the country so deep in corruption) that easily got massive support against whoever looked like an enemy.

Then comes America and shiploads of gold and silver. Also a brutally unstable sociopolitical situation that didn´t calm down until last century´s dictatorship and still has consequences today. At this same time there were wars all over Europe because many reasons. All that Spanish silver went
-to the bottom of the sea, sunk by British corsaires
-to the British treasury, stolen by British corsaires
-to pay for the huge elite army needed to wage an endless war in Flandes and keep control of a good chunk of Europe
-to the Church, which at the time easily owned 50% of the land and infrastructure
-to line the pocket of the corrupted and the already rich

Spain was never about commerce and China´s definitely too far away (other than the typical nobility importing Chinese vases and shit to show off). I found some anecdotes about Chinese people liking one particular Spanish silver coin because the king "looked like Buddah". Still senseless - by that time, Spain was already at its best.

You´ll find better examples in Ancient History. The Romans were masters of corruption and general financial bullshittery. Take Egypt as a lead - it was their fiscal paradise.

Gentlemen, have you glorious winged faggots booked your seats on the Bitcoin rocket ship yet:
>$500 USD a coin by the end of January, guaranteed.

>/biz/ originally flooded with crypto spam
>come back a year later and it's almost all gone
When do you graduate high school OP?