DVTimes

logically someone will sell software ect for you to run your own version of bitcoin, possibly better than bitcoin.

thus when everybody in the world is running a currency, bitcoin will become no value.

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jmcb420

Bitcoin will fail in the long run, but it's going to have more to do with the fact that the banking system on this planet already has the monopoly on what is valuable, and what is worthless.

Had Bitcoin been a product of the already established system, we wouldn't even question its fate.

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kane

It seems like there are a lot of these cryptocurrencies popping up. It will be interesting to see how they compete with each other.

edgeprod

... what the fuck? There are tons of coins out there now, and each one is a money-making opportunity to buy and sell it on the volatility. There are protocols and layers on TOP of bitcoin, there are altcoins, all sorts of options and flavors. Are you not aware of this, or are you just trolling?

JSWENSON

You can start your own coin today, good luck overtaking the one that has tens of millions of dollars already invested in infrastructure though. There is a new bitcoin related company every day.

The sad part is that bitcoin is like adult was circa 1998 to 2002 with the endless opportunities, innovation and fun but idiots like you can't see it.

dyna mo

bitcoin is an experiment. that experiment has already succeeded. the goal was not to replace anything or be the be all end all cryptocurrency.

the fact the it's got more cryptocurrencies being created combined with people like you starting threads about it support the fact it's a success.

dyna mo

no, the sad part is dipshits like you who point your finger at people saying where's the innovation while not innovating jack shit yourself.

freecartoonporn

possibly this will make bitcoin more valueable,
think like this , there are hundreds of new domain extensions are coming , will it make .com more worthless ? no, it will make .com more valuable.

it will fail once the demand stops.

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However, the greatest threat to BitCoins is it's own success. The more valuable it becomes, the more hackers will come after it. It's been hacked, it will be again.

edgeprod

Please post a link to how/when Bitcoin itself was hacked.

TampaToker

Bingo on my fourth coin now about to launch another one....

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AllAboutCams

you need to buy some moon coin

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freecartoonporn

lol lol lol lol

its called stealing. if i am not wrong.

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edgeprod

Buy? Or mine?

AllAboutCams

Buy now i would not mine them at the moment i had 5MH for the launch and got more coins in the first few hours then i have in the last 48hrs

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adultmobile

Yahoo -> good luck -> Google
MySpace -> good luck -> Facebook
Bitcoin -> good luck -> GFYcoin

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PR_Glen

neither have most of us on this planet, what is your point?

the op hasn't exactly brought up anything that isn't obvious, if someone were ever to compromise the creation process the value would disappear.

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DamianJ

No, he really is as stupid as he comes across. I've met him.

Pad

this guy is the financial genius of our time and i'm getting out of cryptocurrency right now

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dyna mo

my point is the guy's a dipshit. i made that very clear when i pointed out the guy is a dipshit.

Klen

This is like saying how dollar will soon fall because there are other people making their own paper currencies.

dyna mo

for the people who can't read good.

Bitcoin is the first cryptocurrency, a form of money that uses cryptography to control its creation and management, rather than relying on central authorities.

edgeprod

Can you clarify what you mean by this? The "creation process" as in the mining process? If so, that's not what OP is saying. He's saying if someone created another coin, which has been done again and again with varying levels of success, and little to no effect on bitcoin itself.

Klen

Or even saying how coca cola will go out of business because there is so many cheaper and better alternatives.

BlackCrayon

surely you realize this can't go on forever. these altcoins won't have a long shelf life. its just riding on the coattails of bitcoin.

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dannysobbota88

I don't like Cyber Money...

edgeprod

Several altcoins solve problems that bitcoin does not. A market exists for them, even if it's a speculation-fueled one. In the meantime, not making money from them is silly. It's like taking candy from a baby, and the people who pitch the doom and gloom while not making any money at it just have my pity.

brassmonkey

nice way to sig whore

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DVTimes

logic would suggest that others will come along with new and better versions. thus bitcoin will die.

its like myspace was replaced by facebook. and even facebook is being replaced by phone apps.

we are bound to see people do there own versions and sell there own versions.

we are bound to see over the many months new versions, and thus the market becomes flooded.

the idea of bitcoin is to limit the amount and thus make it hold its value. but as others move in, its value becomes less.

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DVTimes

you have never met me.

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edgeprod

Your grasp of financial markets sounds tenuous at best. I was hoping you were trolling.

This isn't to say that I don't agree with you that bitcoin could certainly lose a lot of its value, but I definitely wouldn't say it's inevitable, and I certainly don't agree with your reasoning.

BlackCrayon

i'd like to make money off them but it just seems that i am better off sticking to what i know rather than what i don't. how much time do you have to spend watching prices to make sure you buy and sell at the right times? i missed out on bitcoins and it sucks but i don't have a bunch of money to risk losing anyways.

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jscott

DVTimes man this is one of your dumbest posts yet.

So, if I start a tube today it's automatically carries as much weight as porntube/redtube/etc?

Man you really sound idiotic at times LOL.

DVTimes

no

we are not talking about a website.

we are talking about a method to pay and take payments by bitcoin, that almost each day has a bad news story.

the point being is that this is simply a tulip bubble.

yes, people are bying as they hope to get rich as the price goes up. but as soon as it drops, less people will want to take it. after all your hardly going to want to sell your house in bitcoins if next day they are worth less.

i found this just now:

http://www.theguardian.com/technolog...p-dutch-banker

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DVTimes

by the way it makes no odds to me if you use it or not.

i will not and i am happy.

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dyna mo

anyone that compares btc to tulip mania hasn't done their research on tulip mania (it was debunked as a myth years ago) or on bitcoin and certainly not on bubbles, which happen with every single investment tool on the planet, from btc to real estate to gold to stock, pork bellies. etc.

keysync

Porkbellies!!

You mean BBQCoin?

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SlammedMedia

That's like saying there was Microsoft, so there was no chance for there to be Google.

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edgeprod

I spend very little time, personally, but some definitely obsess over it. I trade in and out of various currencies automatically with a trading bot. I only need to intervene when it does something stupid.

dyna mo

i'm going long on bbqcoin!

Fap4Coinns

(1) This is true, but bitcoin remains valuable because merchants can convert them instantly (and easily) into fiat currency (third party support, like coinbase, bitpay). This is the hardest (and for vast majority of bitcoin copycats) impossible obstacle to overcome.

(2) Bitcoin has brand name recognition now. It's like there are millions of porn site, but only very few with brand name recognition make decent money.

(3) Vast majority of alt currency will have very hard time gaining recognition/acceptance as long as bitcoin is functional (litecoin and peercoin might have a chance). Most new crypto currency will die out within year.

(4) Lastly, it's irrelevant if bitcoin fail now (they won't) as I already made tons of money last November. They were selling for $15 when I bought them, so unless they drop back to $15, I am not losing sleep over price fluctuations.

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DWB

*face palm*

TheSquealer

I guess I am the only one that appreciates one of the largest lunatics on the forum, who's a middle aged man functioning at the level of a 13 year old, making "logical" deductions and sharing his "conclusions" for the betterment of the group.

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unimatrix0

Bitcoin will not fail because of alt currencies.
Bitcoin will fail because the only thing it does is to help users break the law.
The only advantage bitcoin has against fiat is the users confidence that they don t have to pay taxes, and are excluded from money laundering laws.
China, India took actions against bitcoin.
Soon USA and Europe will take action.
Theoretically, bitcoin as a software will continue to exist, but the value in real money will cease to exist.

dyna mo

some of y'all need to prepare for digital currencies. while imo it/they won't necc. replace analog currencies, we live in a digital age where most transactions are a blip on a network.

there's really no need for analog currency to any large degree.

xxxoverkill77

Getting sick of bitcoin

jmcb420

Not really, Slammed.

My point is that 'currency' in general is an already monopolized idea and very controlled by the very powerful people who've been at the top of the monetary system since the start. Wars have been fought and people have died for attempting to outdo the system we know now.

I'm not saying that bitcoin has no chance, nor any other digital currency. I'm saying that unless the currency itself is introduced and supported by the already established system, it stands little to no chance in the long run.

Every dollar you have in your bank account belongs to someone else, because what backs it belongs to someone else. Bitcoin and friends are backed by ideals, not tangible valuables like the monetary system we all know.

I might be way off base, and if that's the case I'll admit it. But Bitcoin is the equivalent of building a shed next to a mansion and assuming that it's worth more than another shed simply because it's built next to a mansion. The mansion is what's worth money, the shed is pretty much worthless unless you can get someone to buy into the idea that it's not. Meanwhile, the guy who owns the mansion has the power to burn down the shed, with the support of all his friends and build his own shed.

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VIXEN ESCORTS

Hello cunt I bought some BTC a few weeks ago at $480 and they are now worth $850, I would envisage something in the region of $1850 this year and $3200 in 2015. Oh I forgot you're the dick head that thought shooting the ugliest models in the worst possible light would make him rich.