(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.

http://cdn0.dailydot.com/cache/83/5e...9a586ab749.jpg

http://www.coindesk.com/coinye-west-...y-coming-soon/

*face palm*

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.

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.

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.

Getting sick of bitcoin:mad:

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.

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.

fidddyyyy

By the way, I forgot to mention another point. All these new crypto currencies are actually good for bitcoin, and they actually helped increasing bitcoin prices.

For example, lets say I have 10,000 peercoin (mined or bought) and I want to exchange them for US dollars. The simplest (and most secure) way to do that is by selling them for bitcoin and THEN exchanging bitcoin for US dollars on say a site like coinbase.

I believe these new currencies have played a major role in increasing bitcoin prices in the past 6 months (more than China)

I say bring on more alt currencies. More is good. Once you mine them, how are you going to sell them for fiat currencies? By exchanging them for bitcoin first, of course.

The effect on bitcoin is very real, and the result is that bitcoin prices have been rising more rapidly because of these various currencies. The simplest and most secure way to sell these other currencies is by exchanging them for bitcoin first, then selling bitcoin for fiat currencies. This is good for bitcoin.

Keep in mind Bitcoins are still very new to most people and it's still very early to get in on them and still a good time to invest. It's not too late as some of you may think. Everyone here knows about them because we're all computer savvy but most of the people in this world have no idea wtf a Bitcoin is and the way I see it, it will continue to rise as it grows in adoption. The only way I see Bitcoins having a downfall is if someone somehow figures out how to hack them.

if you do buy into any type of cyber coin just remember bulls profit and pigs get slaughtered. Sell it once you've made a profit, don't be greedy.

The part about bit coin I don't understand is how the mining works?

I seen a KNC Miner Jupiter - ASIC Bitcoin Mining at 640+ Gh/s IN HAND, SHIPS IMMEDIATELY on ebay selling for $18000, what is it and why is it so expensive??

is this where you start ? :moon

its hard to justify getting into it now when we could of back when they were 40-80 bucks a piece.

How so? They were just $600, then $800, then $1,000 today.

Agreed...if they are just going to increase, who cares what they were before?

Have we mentioned this yet? - http://www.bbc.co.uk/news/technology-25617931

I can't be bothered to read the first page...

Bitcoin fail? In what way? It is a social experiment and it has proven it's worth 1000000 times over. uhmmmm, WINNING!!!
Oh, and I also think that bitcoins will be worth much more.
You can only fail........ fail to invest at all, fail to get out at the right moment for maximum profit etc....... Bitcoin cannot fail. It has already done what it was meant to do.