Quote:
Originally Posted by ilnjscb
Point 2 - news of illicit transactions involving bitcoin has reached the masses lately more than positive news. Because of negativity bias BTC is depressed on sentiment.
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The price is down because
the code sucks; once it gets
cleaned up, the price will be infinity many dollars.
Quote:
Originally Posted by kazbalah
Currently their is only about 120k transactions per day. Thats nothing. Now lets imagine if its doing 1 million, or 10 million per day. What are the coins worth then?
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And that's all that will ever be: imagination. The block size max is
not going to be raised any time soon.
Quote:
Originally Posted by kazbalah
It is, its called a 51% attack. If you have 51% or more of the network, you can fake transactions.
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No. That's not what it's called. You are confusing mining with maintaining a full node. Most people do not mine; it's cost prohibitive. Most people can maintain a full node though, and these are the computers that make sure the miners aren't breaking any of the rules.
Quote:
Originally Posted by Barry-xlovecam
Only a fool buys the Bitcoin song and dance. A digital currency, like any other currency, is only worth what it will buy. Currencies are all fiat and not redeemable today INCLUDING Bitcoin! Bitcoin cannot be surrendered to any central issuer for gold or any other real "money". Bitcoin is not backed by any nation's assets either. There is no sovereign land of ''Bitcoin''.
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You can't trade your dollars in for gold either; in that regard, bitcoin is the same. Bitcoin needs no backing; it is the backing. You cannot counterfeit it; you cannot inflate it. Nobody can! And
bitcoin is the sovereign, and it has a
most serene republic.
Quote:
Originally Posted by Barry-xlovecam
Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.
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It's used to
trade over seven million dollars worth of assets every month. I don't care if your stupid porn junkies can't figure it out. Bitcoin is a real serious thing; it's not meant to be easier to use than the traditional fiat methods. There will come a time when your bank card debits bitcoin rather than dollars, and you won't have to worry about how that works.