What the hell is wrong with Bitcoin

SeanAustin said:
Excellent point of view. Bringing this insight to the next bitcoin meetup most definitely.

The US dollar has been doing better from September to May of last year and I'm curious as to how that might be affecting the price of bitcoin as well.
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No it's not because many trusted people can store the blockchain, and the hard -disk sizes will grow with time aswell. By the time the blockchain reaches the size of a full hard disk, the average size will 100x more.

There are already 1 petabyte hard-disks you know...
 
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KPiNZ said:
Bitcoin's blockchain is growing exponentially and will one day get into terabytes or more, at that point the average person won't be able to even have a wallet on their computer (unless they want to devote a whole hard drive to it) and more online wallets will pop up. That will start to make bitcoin more centralized which defeats the only thing it has going for it which is that its decentralized.
Unless you're a day trader I think it's all down hill for bitcoin from now on.
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have you heared of lightwallet? There are wallets that you don`t need to download all the blockchain and still be able to do transactions. So anyone can have on they`r PC`s they`r own lightwallet. Only the blockchain nodes needs to have the entire the blockchain
 
Remember the price was recently manipulated up by the U.S goverment before the auction of the Silk Road wallet and with such big players now involved crypto will never be anything but owned by major corporations . the current price of bitcoin is more related to the rise of the dollar than any mistrust issue in my opinion . everyone looks back to when the Greek goverment invested in bitcoin last year taking the price over $1000 when the real price was nearer to half that value if it were not for more demand than supply.
the Greeks will run out of money at the end of august and will be looking to hide alot of their citizens cash from Europe and IMF beforehand . keep hold of those bitcoins until then at least . get rid of anything else either for cash or btc ,its sites like cryptsy and devs like Koolio selling junk coins that have hurt crypto more than anything else so leave them holding the bag for a change .
 
Mt Gox stole my coins when coins were expensive 1350$/Bitcoin enough for me to trust this system anymore
 
The price was at $180 two months ago. Surges like this are bound to happen.
 
I never thought that Bitcoin will survive such a long time.

I am, however, still confused about the benefits in use of Bitcoins. :roll:
Someone can tell me ?
 
IF you take a look at graph's with start of this year, bitcoins are more stable then it has even been (if so at a lower value). Earlier the bitcoin rate have done quick turns and went up and down like a roller coaster. I think somewhere around 240-320 is what we can expect for the next upcomming years. But that is just what I think :)
 
It's times like these though that those who buy into it will profit. Bitcoin isn't going away anytime soon it's peoples misconception of it cause all it was attributed to in the news was black markets and illicit activity. When in reality this is the future of currency and freedom. If i had 20k i would easily invest 15k into it and just hold them they are more of a commodity atm though which makes it harder for the price to rise cause people are buying and hoarding.
 
abcgo22 said:
I never thought that Bitcoin will survive such a long time.

I am, however, still confused about the benefits in use of Bitcoins. :roll:
Someone can tell me ?
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It allows for somewhat anonymous transactions of used with a proxy. its also very cheap to transfer money compared to services such as money gram and western union
 
It was touching 1000$ in the start of 2014 and today it is 279$. It is still bad, I have lost about 750$ and still having them in cash.
 
lost too many with bitcoin but i got Hope
someday it will touch the sky/moon :)
 
abcgo22 said:
I never thought that Bitcoin will survive such a long time.

I am, however, still confused about the benefits in use of Bitcoins. :roll:
Someone can tell me ?
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As I see it, the main benefit of bitcoin is that it is truly the world's first universal currency, as it can be used by anyone anywhere in the world. Other benefits include dirt cheap transaction fees (its practically free, when you compare it to other money transfer services,) the ability to act as one's own bank, and its anonymous nature (which makes it sort of like digital cash, and avoids the problem of fraudulent retracted payments.)
 
True story: some time ago, I bought 1BTC at $846. I'm so fucked.
BTW, where do you guys look at the exchange rate? What's the most reliable index?
 
GwenGwen said:
True story: some time ago, I bought 1BTC at $846. I'm so fucked.
BTW, where do you guys look at the exchange rate? What's the most reliable index?
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I just search for "usd to bitcoin" via Google. Bitcoin's increase in value is very long term, by the way.
 
I also remember when BTC were around a grand.

If you mined or invested early and got out you're probably sitting pretty looking for other investments right now.

The problem with all these alt coins is they are pre-mined and even when you can mine big volumes they don't trade well to cover the REAL expense(electricity and time factored).

Right now I basically use BTC as storage and even still cringe at it's trends. I don't see any trading strategies with alt or fiat worth while at what I'm willing to invest..
 
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