Lukep I totally respect you as the messiah of bitcoin
How dare you question the messiah ?!
Contrary to the belief of ingrates everywhere, I do not wish to be any type of messiah. As an atheist and especially as a voluntaryist I find that kind of talk offensive in fact.
people would take you more seriously if you didn't pretend to have a crystal ball and make such definitive statements. That's what turns on most people's bullshit-detectors and really doesn't help the "this isn't a bubble" argument, fwiw.
I know it's hard to understand, but I passed the point of giving a fart in the wind about how people seriously take these arguments long ago. I just want to be right. -And so far I've got a pretty good record.
Luke you make a point but does those 10 millions americans without bank account can afford a smart phone?
LG Optimus Zone, Verizon No Contract - Walmart.com Stop living in the past.
Also those 6 billions people with cells phones and no bank account don't forget that 90% of them are equipped with mobile phone not much better than nokia 3310 and does not support any app.
You can bitcoin to SMS accounts too bro. Check out
Bitpesa,
Moneero, or look how simple it is to use
here at Coinopult. There are many others as well in other languages.
Also good luck to motivate those guys to adopt Bitcoin as my experienced in south east asia / africa and 3rd world is that those guys only trust cash money.
It is no small battle, but
hundreds of people have already set up shop in those parts of the world, like Bitpesa has, to fight that fight already. I'm hoping to hear the start of the good news from that region by summertime.
If bitcoin is adopted by more merchants, they will do what current merchants do... immediately sell for their fiat currency of choice. I don't see how increased adoption leads to higher prices. It seems to me it will just increase the number of sellers and push down prices. Right now, when someone sells 500-1k coins, the prices gets hit for $20-$40.
Congrats, you can read the article I just linked. It's still progress though as any marketer here can tell you they are endorsing the bitcoin brand for us to their whole userbase... The price will recover in time due to the new business they help generate.
Bitcoin proponents keep saying, you can just immediately convert bitcoins to dollars, no risk! But how does the fact that if there are not enough buyers for someone like, a Walmart, the price will go down and down. What pillar is that?
That isn't a pillar in itself, but it outlines the need for the Adoption pillar, which includes Hoarders. If enough hoarders are buying cheap coins, it can't go down beyond what those hoarders deem is cheap.
For the record, I do not want walmart to hop on our bandwagon yet... That would indeed bring the price down to $100 or lower with their volume. It is a balancing act that I really hope isn't rushed that much.
On top of that, the miner pillar. I had a miner plugged in for 2 weeks. Then it became unprofitable. So I unplugged it.
Oh Noes! You'll crash the whole network!!1!1!11!
Please learn to read this chart:
https://blockchain.info/charts/hash-rate
Now ask yourself, why are all these companies and large mining rig farm operators still buying these cutting edge rigs when the price has been dropping since last november? Aren't they all losing money? Why don't they just go mine some other SHA256 coin with their equipment?
The answer to that question lies in the original bitcoin whitepaper, circa 2009. Satoshi's got this bro; the hashrate will always rise, it's well incentivized to do so.
More hash rate = more security
And 50 petahashes is so over-the-top secure that bond villians everywhere would pee in their pants just thinking about that kind of power.
I also don't think the fact that some "big names" are very interested is enough justification.
Of course not. What matters is where they put their money... And this year alone VCs have put more money into bitcoin tech companies than you'd believe if I told you. A few even buy bitcoin directly, or buy it up to stock their institutional bitcoin funds.
I don't feel bitcoin or any coin is a currency. They are commodities. I will consider them currencies when many people readily sell their labor for bitcoin.
Something you and the IRS can agree on, even if FINCen, federal judges, and the treasury dept all don't. But as I said above, the bitcoin community is still working hard on making bitcoin a true currency, we know it's meant to be one but will take time to achieve that status through building enough liquidity.
As for trading their labor for bitcoin, I can point you to a dozen different job boards where people post their resumes hoping to do exactly that, such as
Coinality. For that matter I only work on projects that will earn coin... I'd stop using fiat forever right now if I could, and there's really only a few final things stopping me from doing so.
