luke, you beat me to that. I would still say bitcoin is NEVER going to be a mainstream currency. They will kill this market in next few months.
I've already gone through this before both on WF and in my
blog post here, but in short, what bitcoin has ALREADY done is pry it's way into a new playing field between local scrip and Legal Tender:
People are getting spoiled on anonymous net money. The only thing stopping the mainstream from abandoning thier USD right this minute is that bitcoin can't buy enough of the things they need yet.
In fact it will never be able to pay their taxes and some other big, monitored purchases like real estate, so it's quite obvious to just about everyone that it can't take the full place of legal tender.
...But again, ppl are now getting spoiled on bitcoin. It offers so much freedom that even if they aren't freedom-seekers like libertarians and anarchists are, they STILL see value in buying things online anonymously like their porn or many other things.
When they start restricting banks receiving funds from bitcoin exchanges, it will be worthless.
LOL; The cat's out of the bag.... Any attempts to put the cat back into the bag by passing draconian law against it
WILL BE FOUGHT exactly the same way that prohibition was.
Sure, some idiots won't fight, but some idiots in the 1920-1930's didn't consume any alcohol at all, did they?
You have to understand people are betting on bitcoins because they can convert it in real money, the day they can't convert it in dollars, no one would want that anymore. It will become worthless.
I have a pretty good idea how large that market segment is.
It's not enough.
You don't know the
power of the free side. </vadervoice>
I am pretty sure only a few big boys (you know who are they) control the bitcoin market.
Are you talking about Jeff Garzick and the foundation? If not, plz explain.
If so, plz back up that accusation, since those 'big boys' have given so much to so many. Their motives seem quite clear to me.
...And don't leave out the part where bitcoin is Open Source.
The big boys let the market hit $100+ per bitcoin and will slowly start offloading their stake. They just converted their penny worth bitcoins into $100 by selling dreams to broke ass nerds.
If that's even remotely true then I pity them for selling so damn low.
In the end, bitcoins will be back to 10-20 cents worth. Nerds will be back to reddit. Game over.
Lol; alright. Sell! Sell! Sell! More for me then.
(By the way, the army of nerds who live on Reddit's r/bitcoin is notoriously large. Multi-Thousand-Bitcoin businesses like SatoshiDice got their start right there!)
If you guys want to do some more research, I uploaded this file with more in-depth information about Botnets...
No thanks, I'm in Bitcoin for freedom, not profit. Stealing (even processing power) from others is against the NAP.
If you appreciate my efforts here, please don't give that info to someone else here either.
