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Comments
CPU/GPU mining has not been profitable for well over a year.
So basically, you would not use any currency unless someone is giving you free money in it.
We've been seeing more and more people paying with Bitcoin. I think a lot of mining occurs on unused portions of hardware. You may not make much, but it's still better than nothing.
too much of a hassle, too closely linked to criminal activity, and transaction can confirm in between anywhere from 60s to 60 hours
no thank you
Nope, nope and not if you know what you're doing, respectively.
this is exactly the kind of response that outlines why bitcoin will never see further adoption
i shouldn't have to have in-depth knowledge of 'what i'm doing' just to make sure my payment gets through
Yes, things won't be adopted if you actually have to learn a skill to use them. That's why bows and arrows were never used for hunting. Nor were horses ever ridden for transportation. Nor were cars ever driven (especially before power steering). The list of things humans have been willing to learn to make use of use them is very short.
I meant to say that at present not using it but have invested means purchased it for using in future.
Don't really like to get involved with BTC. Would take it if someone was paying yearly for something and that was their only option of payment. Would probably trade it somewhere for bank transfer etc.
I am unaware of BTC, does the value increase over time?
Well, on the surface, it's like any other currency, so the exchange rates fluctuate. That said, the rate of Bitcoin generation decreases over time. So, in theory, if the economy grows, then BTC will gain value. But, it's also possible that BTC will collapse, maybe due to a security issue, maybe due to a bug (there have been bugs in the past), maybe due to an exchange failing (has also happened in the past), maybe due to economic trend.
It swings up and down as bitcoiners sucker more people into buying into their financial pyramid and people lose interest. It makes these swifts in waves and wil alwayss happen because the market for buying/selling btc iss really thin and easily manipulated in either direction
alsso keep in mind, as of yesterday 15m of the total 21m bit coins have already been "mined" and given out to a very small handful of people, which is why those few are so determined to push it's usage as money - it's a scheme they already have leverage in
i use the bitcoin in our billing system to accept them. There are some very trustable exchangers and for me and our clients,everything worked out perfect.
Not much; i mainly use BTC to pay services that have no PP and no trusted CC provider (like file hosters or some corps with OKPAY or weird Ukrainian bank CC interfaces).
You know that difficulty rises and it will take a much longer time to mine the last 25% guaranteeing that the network continues to work, right?
Yes, i'm aware. my point is that buying into it, at this point, is like entering a late-stage ponzi scheme
also, i'm sure you're aware that the plummeting block rewards means fees to get transactions processed will shoot wayyy up to compensate for the miner's losses
Yes, however, still far less than 2% of CC/PayPal.
BTC by now also has such an insane amount of criminal/illegal users (drugs, weapons, terrorism, money laundry for all of the former, tax fraud and so on) that it simply cannot just disappear anymore; these people do likely not keep all holdings in it but the cartels love them some BTC for money laundry.
Looks like a 'Shares' in a company!!!
no argument here, but i'm still certain that the protocol's inflexibility and high market volatility means bitcoin will never come close to matching the popularity of the liberty reserves/e-golds that will continue to keep popping up forever
Kinda ironic in some way though, as we have seen LR being shutdown basically in less than 24hours with all money in it, while BTC would - except in a very, very, very weird case that is extremely unlikely to happen, namely that something breaks the crypto used, which would also break half of the worlds other crypto systems - prevent this for some time.
I do
I think I would use BitCoins more if it was a way to move the BTC to my bank account it would be way more efficient for me.
There are exchange sites that do exactly this.
its not the crypto anyone should be worried about, its the rest of the network/protocol
Pretty sure BTC is more secure than whatever your bank does to prevent people from opening lines of credit in your name.
at least with my bank, the damage can be undone when things go wrong
https://en.wikipedia.org/wiki/Mt._Gox
toot toot
Bitcoin - It's Just Like Bows and Arrows.
Do you know bows and arrows took off? Because people actually needed them; whether it was for hunting or fighting wars (or showing off in competitions).
No one needs bitcoin.
not me, i find the whole thing quite useless.
So, how do you explain Bitcoin's $6.8bn market cap again?