Thread: RIP Bitcoin

Originally Posted by Mr Earl

True enough, but mainstream adoption has barely begun.
Adoption will grow as Bitcoin evolves and adapts to the market.
The price will inevitably increase exponentially as people understand what it represents.

I don't believe so. Its finite circulation quality makes it impractical. Who is going to want to price supermarket items at 0.0000000001 of a bitcoin?

Originally Posted by Richards

I don't believe so. Its finite circulation quality makes it impractical. Who is going to want to price supermarket items at 0.0000000001 of a bitcoin?

You can believe what you want.
Bitcoin will have company, like ETH, LTC, DASH, XMR, ZEC, all with specific purposes and applications. Supermarkets may well evolve their own coin to solve consumer divisibility issues. They will all ride along on the bitcoin network.

There may well evolve little local currencies for neighborhood markets and such. But that doesn't mean Bitcoin will disappear anytime soon.

A good way of looking at Bitcoin as the Internet of money, which it is.

Originally Posted by Plan B

Is the Bitcon fairy gonna sprinkle some magic blockchain dust that makes Bitcon infinitely scalable?
Do you know the technical limitations of your energy unfriendly coin?


A good way of looking at BTC is as being like Napster. It was groundbreaking in innovation and had a lot of street cred because it stood up to 'the man'. Sadly it's inability to play well with others in actual reality outside the internet means it's dead and all the cool kids are now using Spotify and saying "Napster, who?".

Bitcoin seems to be able to meet the various challenges it has met so far (scaling, fees, FUD).

Bitcoin could be seen as an evolution of Napster, there is no Satoshi Nakamoto to arrest and jail, there are no CEO's to prosecute, there are no head offices to invade and seize.

As far as energy, compared to wasteful government and banking schemes, Bitcoin is very efficient and the energy technologies are becoming more efficient all the time. Today's miners are putting out 14.5 TH for the same electricity 8 TH miners were working at just a couple of years ago. Efficiency advances are poised to change again soon.
Other than the regular market downturn volatility Bitcoin ain't going nowhere but up.