Bitcoin has little shot at ever being a major global currency

Re:Bitcoin has little shot at ever being a major global curr... by rjromero on Wednesday January 10, 2018 @08:25PM (#16120763)

So in the dystopian future of Chinese bank account/citizen social points and even present-day American Fed/Bank collusion, you are continuously supportive of centralization? And now you claim the experiment has been "worth playing out" while Bitcoin has experienced the most adoption it's ever had within the last few months? What?????? Please tell me you are joking.

Also, what incentive do governments have to keep people paying their taxes and using their own fiat that corporations seem to be able to control and play with hundreds of billions on their own accord and on separate rules. What about privacy, with the government having easy access to every financial institution I encounter and every transaction I make, why should I agree to that?

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Re:Bitcoin has little shot at ever being a major global curr... by Scarblac on Thursday January 11, 2018 @04:39AM (#16122552)

I want the government to raise taxes, because I want it to do a lot of useful things for society that it can't otherwise do. That's what government is for.

And I want it to be very hard to dodge taxes, so everybody pays their share. If that means less privacy, so be it.

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Re:Bitcoin has little shot at ever being a major global curr... by themagician on Wednesday January 10, 2018 @08:40PM (#16120840)

Pretty much all the early adopters who sought to use bitcoin as a currency have backed out because transactions aren’t confirmed for days, in which the price swings wildly, or transaction costs are insane, or some combination of both.

And what about privacy? At least with banks you have some. Or with cash you have the ultimate privacy. With Bitcoin every transaction is public and permanent. You’ve got to convert to dollars at some point, because bitcoin is no longer really transactable itself, and once you do your entire spending history is now available to the big bad government.

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[dead]

Re:Bitcoin has little shot at ever being a major global curr... by themagician on Wednesday January 10, 2018 @08:53PM (#16120896)

Yeah? Visa and MasterCard can confirm a transaction in seconds for 3¢ on the dollar. The price can swing 10% in 10 minutes—and you’re talking about two days? It’s not usable.

Lmao. Who is going to let you buy a car not knowing how much the currency you are paying with is going to be worth by the time they cash it out? Or do you just pay an extra 25% to cover the spread just incase?

The blockchain has some great uses. Decentralized currency is not one of them.

And as far as doing business with me, I really doubt you could afford me, so there’s no worries there.

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Re:Bitcoin has little shot at ever being a major global curr... by rjromero on Wednesday January 10, 2018 @08:56PM (#16120908)

Once again, pure retardation. The blockchain is completely useless if not backed by miners and value creation, otherwise it’s just a regular distributed server.

I’m glad you’re exposing yourself in this way to me, gives me that much more confidence in you being wrong entirely and me being right. Which I already knew, but I appreciate the extra confirmation.

EDIT: HAHAHAHAHAHA just saw your other comment saying Ripple literally has more intrinsic value than Bitcoin. My GOD. MY GOD. PLEASE KILL YOURSELF IMMEDIATELY. You are absolutely done, brain is roasted my friend. Your view of the world is about as accurate as that of my 3 week pup.

Lol at that subtle jab. With your IQ/RQ I would really be surprised if you have a net worth of over $3.50.

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Re:Bitcoin has little shot at ever being a major global curr... by dang on Friday January 12, 2018 @02:22AM (#16131057)

We've banned this account for repeatedly violating the site guidelines and ignoring our request to stop.

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Re:Bitcoin has little shot at ever being a major global curr... by disordinary on Wednesday January 10, 2018 @10:55PM (#16121294)

@rjromero, it doesn't hurt to be courteous and respectful to people. The crypto community has a very bad reputation for obvious reasons and it really is not pleasant.

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