Bitcoin doesn't have a secondary purpose.
At this point I'm going to have to start responding to such torts as "Y U Slander bro?"
I've listed plenty before. I've even provided links to some starting up.
I just hope you're being true to your conviction and NOT holding any bitcoin... As you said twice now; you "have to use for it."
Please stay away from it then.
But after learning more and more about money/economics I am no longer optimistic.
Who the fuck did you learn from? Just biased assholes like Schiff?
Sell bro. Go with your gut and sell every satoshi soon before they crash for good!
Many different ways. Too many to list here. Impact on your daily life should be highly considered.
If by dollar value, then notice in the last 3 minutes of the video below he says that the payment network can be useful and each coin might end up being $10,000 a piece, but nobody really knows and it is all experimental, etc.
Sound like my beginner's advice verbatim.
Some of the negatives he points out about bitcoin are the same he would say about baseball cards or US paper dollars, which is different from saying that nobody will want those things in 5 years.
Which he's clearly in denial about. In 5 years bitcoin will have a million more uses than it does now, and he's still stuck in the one (completely unintended) use of its' speculative commodity price. What a loser!
On average, the more emotionally attached people are to something, the more oversensitive they are to even a hint of criticism. This can be seen with religious cults, Justin Beiber fans, and now with Bitcoin, lol.
That's absolutely correct. Schiff demonstrates this perfectly in the film you attached here:
I hope everyone here watches how Schiff reacts to the question Erik poses at 28 minutes in... Notice schiff flat-out panicking and never letting Erik say another word afterwards... Because Schiff knows he's wrong and he'd have to say something anti-gold in response.
L-O-L Schiff; CHEATING in a debate to sell more gold... What a complete snake-oil scheister! :1orglaugh:
Gold is Schiff's religion.
Like houses bitcoins will always be around, yes. Unlike Bitcoins you can use a house even if its worth 90% less.
Sell then... Before it's completely worthless and you're left with nothing at all!!!
Can we get a show of hands to see who has used Bitcoin for commercial transactions more than 2x?
Spending Bitcoin, not receiving it.
I've spent around 2 whole coins now over the last year or so.
But more to the point... If bitcoin wasn't being spent, why would 94,000 transactions happen the other day on the bitcoin network to NON-popular addresses?
https://blockchain.info/charts/n-transactions-excluding-popular
Why would over 20,000 Vendors Accept bitcoin?
And of course, why wouldn't people find a high-anonymity, ID-Theft-Proof, libertarian, non-infationary, uber-scarce, borderless, deniable, near-instant means of wealth transfer worth using?
Clearly such a thing has no use in the modern world bro... Let's go back to the gold standard and mail each other gold nuggets to pay for shit... That should work better. :321:
I just see it as a problem Paypal already solved. Plus you get dispute resolution, tracking, access to a legal system and so on.
OH, I SEE... You appreciate the services that your state provides you? Why didn't you say so! Enjoy the government you ask for.
Meanwhile, we free-market types will be building SUPERIOR decentralized alternatives to government services. Hell, just heard about this bitcoin-based law alternative today:
CoinLaw - lawyer's consultations and advice for Bitcoin
But if you prefer to support the state's service, go right ahead...
if I am a consumer, then Paypal offers a lot more to me.
Then you're still not getting it.
Paypal basically offers consumers ONE benefit; the dollar brought online, which comes with its ability to be charged back. That's it, and it's really shitty at it in fact, charging huge fees and has a completely arbitrary set of rules to follow which gets you banned or your money stolen by paypal themselves at time.
Worse yet, the dollar is a major problem here because of the data gathering and bank transaction delays/fees. ID theft for all fiat transfers is not a trivial thing.
Bitcoin does not have any of these problems, and the fees are always less than 1/10th of what paypal/CCs would charge merchants...
SO, when merchants want to accept bitcoin and their customers don't want to spend them (a problem that has been discussed at length for years now on bitcointalk) all a merchant has to do is lower the bitcoin price "5% off when paying in bitcoin" to entice consumers to forego the chargeback protection.
Yes, this is done all the time. Eventually though, it won't need to be done because paying in bitcoin will simply be more attractive to the user already; ID-fraud-proof currencies will be more important in the future. (As will any currency that doesn't inflate like the USD will soon.)
I have no doubt Bittorrent will put pressure on everyone to improve. But it's not going to take over without legal support and once it is part of the legal system, then it will lose its "outside government influence" effects.
FTFY.
Go spend some time on investorshub or hotstockmarket and mentally replace ticker symbols with BTC. You will have dejavu for days.
No bitcoiner is going to say that there are no speculators manipulating the price of a bitcoin on a daily basis.
We fucking hate them in fact, we would much prefer if they kept their money out of it and stayed home so we could make bitcoin into a money sooner by having a smooth ride up. Sadly the speculators gonna speculate, and each crash lands softly well above the previous bubble's starting point, every time without fail, despite the speculators because of all the genuine usage of bitcoin, like the chart I linked to above demonstrates.
No matter what speculators do, the underlying growth of people hopping on the bitcoin network and transacting in the bitcoin economy GROWS EVERY SINGLE DAY, PERIOD. These hundreds of thousands of people always need more bitcoins and
many are trying to earn it instead of buying it.
Eventually the majority of the people speculating on bitcoin will be on wall street, and all the normal users will forget what the exchanges even look like. They'll just buy coins at their local ATM if they aren't earning them at their job yet.
