What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    29.8%
  2. Passing Fad

    70.2%
  1. Lawlruschang

    Lawlruschang Member

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    if you are okay with a LOT of volatility, i think yes. i have a decent amount invested in it personally
     
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  2. Commodore

    Commodore Contributing Member

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    ethereum in no way has better security, in fact the tradeoff is capability for security

    it's more programmable, but that makes it less secure (not good or bad, just a tradeoff)

    see the DAO incident
     
  3. Lawlruschang

    Lawlruschang Member

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    well they "fixed" the incident. the instability from the bitcoin community is a source of insecurity itself
     
  4. Commodore

    Commodore Contributing Member

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  5. ipaman

    ipaman Contributing Member

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    at this point I would only invest in bitcoin with play money. it's all over the place and someone needs to explain to me the fundamentals of the bitcoin value.

    There's also so many groups out there constantly challenging bitcoin. I don't know if they will succeed or fail but the point remains that there will constantly be innovations and replacements challengers which is why you need strong fundamentals to withstand the barrage. German Mark (sound fundamentals, strong history) is history (many actually thanks to Euro in 2002) so recent currency extinction does happen. Also, with the orders of magnitude of computing potentially possible in the future with quantum computing, the blockchain isn't secure. Nothing today will be for that matter. It might not happen in my generation but maybe the next.
     
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  6. Commodore

    Commodore Contributing Member

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    the pictures of metal coins that always accompany these articles are so misleading

     
  7. le081488

    le081488 Member

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    ETH at or was at $100 and litecoin rocketed as well.
     
  8. moestavern19

    moestavern19 Contributing Member

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    Bought some ETH at 44 last month.
     
  9. Mooch

    Mooch Member

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    where do you buy eth or bitcoin? which broker?
     
  10. Pizza_Da_Hut

    Pizza_Da_Hut Member

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    There's a bit coin exchange at a mall here in eugene outside the movie theater.
     
  11. dmoneybangbang

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    Bitcoin doesn't have any characteristics of currency so far.
     
  12. moestavern19

    moestavern19 Contributing Member

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    CoinBase duh. Do you even google bro?
     
  13. Commodore

    Commodore Contributing Member

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    it's fungibile, unforgeable, scarce, portable, doesn't degrade, is an abstract token

    pretty much everything you want from a currency

    just needs to achieve enough network effect for the value to stabilize
     
  14. dmoneybangbang

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    That "network effect" and stability is what makes those characteristics meaningful. It's not without its uses but I don't see it becoming currency in a meaningful way, but maybe whatever becomes bitcoin 2.0 or 4.0 will.
     
  15. Commodore

    Commodore Contributing Member

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    bitcoin 2.0 or 4.0 will have the same need for adoption as bitcoin 1.0
     
  16. TheMystery008

    TheMystery008 Member

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    Almost all altcoin has gone up since the surge of Bitcoin.

    It would have been nice if I invested my money in Dash (Darkcoin) or Ethereum instead of Peercoin.

    Either way I'm happy to have multiplied my initial investment.
     
  17. le081488

    le081488 Member

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    ETH recovering well and BTC going for 2k

    Anyone in with the lesser coins in order to gain on a bigger volume?

    Ripple and STR on a recent run.
     
  18. Commodore

    Commodore Contributing Member

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    2000!!!!!!!!!!!!!!!!!!!

     
  19. tallanvor

    tallanvor Contributing Member

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    The first pages of this thread are hilarious.
     
  20. dmoneybangbang

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    Yea.... a currency that doesn't maintain it's value isn't a currency. Seems bitcoin is pure speculation at this point.
     
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