It sounds like justifying an investment.
There was a time not long ago when people thought AOL was the “online”.
"My point being this is the future and people have yet to grasp it, it is here to stay and impossible to remove. Make better, regulate and improve yes, but the future. It is more than a coin or a token; it can track and maintain the record of anything without one precise point of record but thousands."
You're talking about blockchain the process, not bitcoins. The only ones saying this is the future are people that own older bitcoins and trying to sell them off or who have invested big time. We have digital currency right now, it's called online credit banking. You think the debt mongers will allow some unregulated system to take that away? Unless the banks figure out some way to make bitcoin into a debt instrument, it's not going anywhere.
bitcoin is a facade. The energy and storage to maintain bitcoin blockchain is staggering in it's enormousness. Bitcoin is unsustainable energy wise and companies are not going to invest and support the phenomenal server capacity to store every single transaction that cannot change. Not even the highest compression we have can make a dent in the needed capacity in the near future. And the very design that is blockchain does not lend itself to ecommerse or today's world wide accepted UPC systems. It's slow and there's nothing on the horizon visible that will alleviate this problem. Is Amazon going to invest in giant warehouses full of servers so people can buy potato chip makers and electric razors with bitcoin? I don't think so. It's not a paradigm shift like the hucksters are hawking.
No one can make their "own" Bitcoin. They can make their "own" coin or token, but they cannot dilute bitcoin. Cryptocurrency = Coins/Tokens
"They can make their own coin" And they can, this is exactly why bitcoin is meaningless now. Why mine the original bitcoin when you can create and mine another and try to get people to buy that. I have the only ice cream store on the street and can charge unheard of prices for a cone. 5 other ice cream stores move in with their own and charge far less. Is my ice cream still that valuable? No. Is my ice cream so unique it will keep that value? No. I was sure no one could duplicate my special ice cream. They did.
Bitcoin is a cryptocurrency and others are trying to duplicate its success. A coin is currency and gets its value on those who will purchase it. A token has value with those who buy it with coins. (the coin-token difference is a thread on its own.)
What success? Around the world the governments are shutting down unregulated bitcoin exchanges. No store in my state takes bitcoin, and if they do, it's after you pay cash to exchange into bitcoin, which I've never seen yet. No retail or business in my entire day will take bitcoin for services. Not 7-11, Kroger's, Discount tire store, dollar general... none of them. Where's the success? Online buys from the busted Silk Road? Not even my local MJ dispensary takes bitcoin. Online gambling sites? Oh yes, poker stars since shut down. Online gambling owned and controlled by off shore companies? They love bitcoins.
What success? Do you want to bet that if the commodity exchange opens next week, and I thought they said it wouldn't be in place until 2018, that it dive bombs in a week. Why, because that exchange will be regulated and held accountable to make good on the action. Who they gonna call? Can you take possession of the bitcoins in your bitcoin option position or bitcoin commodities contract 3 months out? Does the commodity exchange have final bitcoins on deposit so they can pay out if people call in wanting the commodity, like wheat or silver.
Or is it one big ponzi scheme that the exchange wants to pull off.
Imagine if you could hold and store your money as it gains value and not pay anything or anyone practically for free. No bank, no fees, no middleman. That is decentralization which is Bitcoin.
And that would be anarchy and chaos. And under what speculation proves it's going to gain value?
And how does one securely store their bitcoins? The bitcoin banks which are hacked every other day?
My credit union has never been hacked. Your computer, when you can have a hard drive fail and instantly lose your hash? What happens with a operating system upgrade? Bork your system doing the Tuesday security upgrade. Hopefully the wallet works with the next OS. And advfn pluscoinone is charging a 2% fee to track your account of their coin. That's not free.
As for South Korea or any country or person. Go for it, make your coin or token, the question is who will buy it. I intentionally avoided the last post about South Korea because of its a hot topic on something that happened last week, as if Bitcoin craze is new or something.
It's not new, but it's reality that people don't want to accept. The original bitcoin is meaningless now, and only people that hold it want other people to believe it still holds value. When the general market finally grasps the Holland Tulip analogy, they'll be looking for taxpayers to bail them out.
I said it before and I'll say it again, the banks and hedge funds are in bitcoin heavy, ANY bitcoin and they're going to take the hit. But like last bubble they created, we will pay for it. You can bank on that. Can I cash in my Ehereum for bitcoins? How many Ehereum do I need for a bitcoin? And tomorrow, can I get 26,000 cash in hand by 9 am?
People in this game ain’t your regular ole schmuck traders.They are young college-educated techies looking to be the next cypherpunks. They are funding ideas and concepts and have no delusion of it being a complete gamble when they do so. If one was to say or ask if there is a level of criminality or fraud here, it is from a code hacking perspective and not OTC type dilution. Meaning hackers hack hackers, and it's hard. 70 Million just got hacked, and we all can see the account and where it's at, they can spend it right in our face, and there is nothing a damn soul can do.
And this doesn't look like a problem to you? Yep, the last bubble was- wait for it- college-educated techie cyberpunks, who like todays cypherpunks aren't looking beyond next week or outside of their basement to see what real people are doing. And 90% of those punks failed. They forgot to factor in living breathing everyday people. When dot-com companies were asked to come up with the money that their false market caps justified and the loans they got, they said oops, we were only being creative.
Then I, and the rest of the innocent citizens lost houses and life savings to cover the 'too big to fail' real bank criminals while they walked with millions upon millions of golden parachutes and their lawyers got filthy rich.
Bitcoin is going to be the pin to burst your bubble. I don't appreciate cleaning up the mess.
Ladies and Gentlemen we are in Boston, it 1773 and the tea is slowly being thrown overboard.
This is nothing like Boston. We're not challenging a foreign government or revolting against foreign taxation. Bitcoin is one persons original idea to circumvent paying taxes and government control.
Simple as that. Who used bitcoin the most? Only people that wanted to transact business without paying taxes or government regulations. Like the Silk Road and the ilk, who trafficked on the dark web selling guns, hard drugs, bomb kits, MJ, kiddie porn and evreything else you can't get at Walmart. And of course the porn business, who are always the first adopters in anything monetary. OH and don't forget online offshore gambling, where payouts are always missing and no way to collect.
Sure bitcoin is the new future.
