doge coin

putrid analogy. apples and oranges, but i expected nothing less from you, standard

If there is a 5% chance bitcoin gets "there", then it's very +ev compared to any other investment. For me, someone who invested quite early, it's already there anyway.

Gets where?
What I like about bitcoin is there's chances of huge gains, but only 100% loss.

Just pulling numbers of out the air here but it's probably equally likely to lose close to 100% as it is to gain 1000%

Which to me makes it seem like a good investment. And that 1000% could actually be 10000% or more.

I am able to tell that litecoin does not offer anything that will make it a super coin that is much more functional than bitcoin. So that's a non issue. NXT will not be the new thing either, and even if it somehow is, I am confident I'll do just fine. I don't know how you think bitcoin will deflate overnight so that people can run into some new super coin. If some new coin is so awesome that it will displace bitcoin, with the head start bitcoin already has, everyone will know about it right away, however, not everyone will snap get out of bitcoin. You will never see the market cap of some coin go from $.5B to $25B in less than 6 months, and that's just about what it would take. It's also likely that if another coin comes along it runs along side bitcoin, both filling certain niches. We'll have to agree to disagree on this one.

This guy gets it.

Where is bitcoin lacking exactly? What more do you want out of a crypto currency?

usually when you try to refute something, you support it with argumentation.

I pulled the word out of the post I quoted in my post. You will have to ask the other guy.

You've made your decision. Good luck and congratulations, hopefully they go up.

It's actually a much better analogy than those who love to compare people being slow to adopt bitcoin as to those who were slow to adopt the internet, which is a much more putrid analogy that has run rampant in this thread.

Picking something that has a window of days or hours is much harder than doing not losing substantially when something has a timeline of months or years. It's even easier to feel confident when the supposed thing that is going to force you to make a decision does not even exist yet.

Are you aware that bitcoin is more than a currency? Even if the currency fails for whatever reason, the bitcoin protocol, or another that's modeled closely after it, will very likely change the way records are kept in a way that will lead to billions of dollars in savings as well as more functionality across a number of industries.

wrong. what infrastructure is built to ensure that bitcoin is the most robust for the near term, exactly? it is incredibly easy and uncostly to switch from bitcoin to another cryptocurrency like litecoin in the event of some fault being discovered within bitcoin. some possible scenarios: 51% attack makes the network lose integrity and cause people to dump the currency, a previously unknown vulnerability discovered within the bitcoin code, weakness within the SHA-258 hashing algorithm that would cause people to move to scrypt-based cryptocurrencies.

what's to stop that bitcoin protocol to be implemented into a government crypto coin?

http://www.inc.com/jeremy-quittner/b...-currency.html
(canada's testing their own MintChip, government backed crypto currency)


regulators in america could just come out with their own version of ripple. government backed, instant credibility and trust and lower volatility. minimal transaction fees, international remittances etc...

US Postal Service considering integrating bitcoin: http://www.coindesk.com/us-postal-se...oin-exchanges/

I guess they could, that's why I included "or another that's modeled closely after it" in my post. One point I want to make is that they would not have to create a currency to pair along with the new government blockchain, nor would it be a competitor to "bitcoin the currency" even if they did.

Gov backed kinda ruins the point of it, but yeah, I guess they could, even though they won't.

51% attack is way overrated.

Of course it is, until it actually happens.

yeah, it is. but it doesn't even have to be a 51% attack. the loss of integrity of the network can happen with much less than that. the point is that things can happen to make people switch to a cryptocurrency that is perceived to be safer.

i would be shocked if the USPS adopts bitcoin. I would not if the govt creates it's own version of ripple for money transfers. this is my own speculation and interpretation of the article but I interpret the official as considering virtual currency for USPS adoption rather than specifically bitcoin.

We dont' have a single USA based btc exchange. campbx just shut down their ACH wire transfers. public ETFs are still not here. winklevoss's attorney has given the opinion that we will not see the ETF in 2014.

i don't believe for a second that the USA will be adopting bitcoin into any of their government functions.


any widely used govt coin would be a significant competitor to "bitcoin the currency".

the main selling points of bitcoin to the layman are:
1. relative ease and low cost for money transfers
2. no charge backs
3. pseudonymous (relative privacy in transactions)
4. scarcity, max of 21mil btc

if we adopted a govt backed ripple coin, we have all those benefits except for scarcity. a govt backed coin that is linked with the USD reduces volatility.

The internet analogy isn't about slow adoption, it's about people who do everything they can to deny that the technology is useful or incredibly innovative.

Would like to hear from aggo or bitcoin boom what infrastructure has been built that will make it so hard to port over to another coin

CoinMKT, Kraken, CoinBase, Circle, and ItBit, will all be regulated bitcoin exchanges based in the US

People in countries that do not have as reputable a government as the US another main selling point is that bitcoin is controlled by math, not people or governments.

It would not be hard if everyone just up and agreed to move to a new coin. If that happens, which is unlikely in the near to mid term, the process will take months, if not a year or more.

what is your reasoning for saying it would take months, if not a year or more? it would take 10 minutes for a merchant to switch from bitcoin to litecoin provided there was a litecoin service like bitpay. and in the event of a fault within bitcoin it would emerge very quickly.

Yes, you are right, however, you misunderstand what I am trying to say.

It would take a long time for people to feel comfortable enough with a new coin to switch. Merchants would have the same issue actually. There would be a ton of leadup time to some crazy new favorite crypto coin. Actually switching APIs and creating wallets would take no time at all comparatively.

If there is some fundamental flaw with bitcoin's encryption or something else, you're right, that would kill it immediately, that's not what I'm talking about though. It's a whole other conversation.