3 Reasons Bitcoin Is Doomed to Fail | The Motley Fool

I stored bitcoins online ... aaaand they're gone.

/SorryForYourLoss is a place to showcase the top minds of bitcoin (and cryptocurrencies) failing to secure their precious internet money properly. It's a memorial for the countless incidents of thefts, scams, hacks, goxxes, .. etc.
[link]

$1 at a time

If 1 million people gave a dollar to someone, they could be a millionaire. We are an embodiment of [this showerthought](https://www.reddit.com/Showerthoughts/comments/2mq94c/if_a_million_of_us_picked_a_certain_redditor_and/) Let's make a millionaire together! Every month, there is a drawing thread and a winner thread.
[link]

Why Bitcoin WILL Fail (You MUST…

Why Bitcoin WILL Fail (You MUST… submitted by shinney to 24fun [link] [comments]

Why Bitcoin will fail and the new comers will take over

It’s almost a year I was saying that Bitcoin is a blown bubble and it is going to blow up one day. The funny thing is when you see people online saying that it will hit $1000.000. Those people are just doing their Bitcoin marketing and getting paid for that. Don’t believe that BS! The day is here and it is going down and I don’t think it will go up anytime soon or it will ever go up. Whenever you are investing your money, you have to understand where you are investing it. Blockchain is failing. The Bitcoin system can’t function without miners. If miners are not mining, The Bitcoin system just literally stucks and doesn’t function fast. No one mines now days because it’s simply more expensive than what you get. Besides the currency part, IOTA is a platform. If the company’s platform succeed I think IOTA’s price will go up much higher than Bitcoin. Same thing is with Ethereum. Ethereum’s head understood that blockchain is failing and is looking forward to upgrade it’s platform. Lots of people are waiting for the Ethereum’s upgrade as well. If Ethereum succeeds with the upgrade and IOTA succeeds with it’s new Tangle platform. They will become the leading currencies in the market. Basically this is a race and whoever gets there first will succeed. In my opinion the new comers like IOTA, TRON, Ripple will take over this market because they have a lot stable fundament and they offer more than Bitcoin because Bitcoin simply doesn’t offer anything and there is nothing behind Bitcoin!
submitted by Zair666 to IOTAmarkets [link] [comments]

Why Bitcoin will Fail

Why Bitcoin will Fail submitted by I_did_dit to TopScience [link] [comments]

07-11 19:53 - 'Why bitcoin will fail. Why bitcoin will succeed.' (self.Bitcoin) by /u/kwanijml removed from /r/Bitcoin within 690-700min

'''
So we've all been blasted incessantly with the now age-old tirade (and variants) about how "bitcoin is pure speculation", "will be curbed or shutdown by government as soon as they feel so inclined", and my favorite; "anyone can create a new cryptocurrency, so that means they won't be worth anything".
I was recently responding to one such bad argument in /economics and thought I'd just post it here as well, to maybe help a few people better understand the macro forces at play, and maybe pair these ideas with hardespecific evidence as it pertains in your future discussions with skeptics and detractors:
Money (or a proto-money like bitcoin) is a network good: i.e. its value, in aggregate and each share of a homogeneous unit, is derived from positive network externalities. Not some utility of the token itself. Or to state it another way: the size of the network of available trading partners with which you can alleviate the inefficiencies of barter and communal credit systems, and thus take maximum advantage of the division of labor.
This idea that speculation for speculation-sake (i.e. a game of musical chairs or last-one-holding-the-bag) is the only or primary factor in play, which causes the trading and use of bitcoin to persist, is simply juvenile and would almost necessarily require that at the very first bust (after the boom) that the coin goes to a price of zero, or at least down to some negligible price which reflects its value in a non-network-good-sense; such as numismatic or curiosity value, or as a smart-contract token for cryptokiddies games or something like that.
And this view simply doesn't hold up to the theoretical scrutiny or empirical reality. Bitcoin has continued to spike and "crash" (almost a half-dozen times now with at least the relative magnitude of the most recent bubble and bust)...and yet so far, consistently finds support after each next crash, higher than the previous all-time high price.
Nobody continually speculates on speculation...there are plenty of "greater fools" each run up, no doubt, but there are also many many of the repeat, usual suspects; continuing to trade and to build the ecosystem. What's going on here is not just speculation on other people speculating...it is entrepreneurial foresight in speculating- speculation on the likelihood of and evidence for the growth in the network effect surrounding the token (i.e. how money-like is bitcoin becoming? How valuable could it be as a full unit-of-account money?).
Because this is a decentralized, bottom-up process, (there is no boss, no owner, no ruler or government; you either trust/accept the rules of the protocol or you don't participate) some market failures or coordination problems stand in the way of this actualization of bitcoin as money coming to fruition smoothly or maybe at all (hence some validation of the "state theory of money" and the usefulness of the tax-demand-sink which fiat currencies enjoy).
But present government policies and the incumbency of the national fiat monies, also present additional challenges, which are likely responsible for keeping bitcoin from gaining as much traction as it otherwise could (tons of persecution of otherwise legitimate crypto-on-ramps under the auspices of AML/KYC laws, the fact that most tax authorities in the developed world treat crypto as a capital good: thus nobody can possibly even legally use a cryptocoin as an every-day spending/earning money, because the tracking and reporting for it are just far too onerous, and many many more direct and indirect ways).
To 1st-world perceptions, its understandable why a lot of people not only feel like they don't get what the utility of bitcoin is now, but also don't see it having a future (thus, pure speculation appears to them to be the obvious driver of the price patterns)...but once you remember and look at how a large percentage of the world does not enjoy stable money, fair or even tolerable governments, ways to escape high inflation and capital controls, accessible banking, and cheap payments (especially for international remittance)...then in comparison, even volatile bitcoin starts to look pretty good. And that fact alone, plus the fact that bitcoin ever even developed an exchange price and continues to exist 10 years later, is pretty freaking amazing...amazing accomplishment for some anonymous crypto-anarchist(s) and an initial cohort of cypherpunks and geeks; almost doesn't make sense...until you understand how ripe the world economy is for a non-state money. For competition. For real accountability (which even democracy often doesn't adequately provide).
Additionally, it doesn't really take too much creativity or foresight, to see and understand that even our "good" governments and their currencies and banking controls, are getting more and more draconian, restrictive, and panopticon-like...so that as bitcoin grows in network effect and liquidity and price stability...it might one day even start to look pretty decent in comparison to the dollar, euro, and yen.
It doesn't take a huge stretch of reason, to understand that a lot of people are a lot more (small 'l') libertarian than skeptics and detractors assume, and desperately care about making institutions as voluntary and competitive as possible; and that this is not something which is or will be achievable through government or political channels; that government accountability must be imposed by de facto competition...even competition in monies; and that, is the point of, and one of the major present and future sources of value of cryptocurrencies like bitcoin.
Anyone can (and always could) create new currencies...this doesn't and never did create inflation or dilute value, or any such nonsense. Because what is not trivial to create is network effect. And network effect (not even taxes or the "full faith and credit" of your country) is what primarily informs price and drives the value and stability of even your national currency. The ability to achieve position as unit-of-account carries massive social and economic inertia with it...and that inertia then even ends up moving politics and forces liberalization.
Yes, because bitcoin is a network good, the U.S. or other governments could crack down on its use (a lot more effectively so than say, narcotics, which are valued and valuable to the user independent of anyone else using or trading with that good) and virtually destroy its present market and market share. But keep some things in mind: 1. To do so, they would have to massively inconvenience or put a dragnet over other, much more widely-used goods (like the internet or parts of it) which would not sit well with the masses, who don't even care about bitcoin. Many/most busines could be tracked and prevented from using crypto via the tax/reporting apparatus...but the informal/cash/black/grey and online economy is already so huge, even just inside the u.s., that if bitcoin were to even become the currency of choice for a large share of just this, it would significantly increase bitcoin's usage from the present, and the price would rise and stability would increase; despite it being kept completely out of the formal economy. 2. The U.S is not the only country on earth! And bitcoin is especially good at silently passing through international boundaries.
'''
Why bitcoin will fail. Why bitcoin will succeed.
Go1dfish undelete link
unreddit undelete link
Author: kwanijml
submitted by removalbot to removalbot [link] [comments]

69 reasons I've heard why Bitcoin will fail...

It’s a Ponzi scheme Tulip bulbs! It’s a fraud Too deflationary They can just raise the 21 million coin cap We already have money that works perfectly well We already have digital currency It’s digital fiat currency You need a central bank during financial crises You need a central bank to ensure the right amount of money 21 million coins isn’t enough for the global economy It’s not real I can’t hold it in my hand No intrinsic value Nothing backs it Other than money it has no use Unlike Bitcoin, gold can be used as jewelry or in electronics No government backing I can’t pay my taxes with it They’ll just shut it down They’ll just make it illegal EMP Quantum computing Too complicated for most people I don’t understand it My financial adviser said to stay away It’s been hacked Mt Gox was hacked Used for only illegal activities like drugs and child porn When they shut Silk Road down no one will use it North Korea owns a lot of it It’s too anonymous A more anonymous coin will replace it Too volatile Can’t be a store of value No FDIC insurance if you lose your coins Once Wall St. comes in they will smash the price down and you’ll be left holding the bag No one knows who created it The NSA created it It’s a scheme by the global elite to form one world currency that they control They’ll find a bug in the software Satoshi will dump his coins and cash out Unfair benefits to early adopters Unfair coin distribution and wealth inequality Barely anyone can afford a bitcoin Blockchain is the real innovation not Bitcoin Governments will just create their own cryptocurrency Amazon will just create their own cryptocurrency The government can just shut down the internet When the electricity goes out then what? It’s a libertarian/cypherpunk fantasy Needs AML/KYC Needs proper regulation for mass adoption No one will use it because it’s value keeps going up Bitcoin is like MySpace they’ll be a newer Bitcoin 2.0 It doesn’t have smart contracts like Ethereum It’s not Turing complete What stops me from creating my own cryptocurrency? An infinite amount of cryptocurrencies can be created so it’s not scarce Not enough transactions per second It can’t scale Mining is controlled by China Mining needs to be ASIC resistant Mining is useless and a waste of energy Mining is bad for the environment Proof of stake is better than proof of work Bitcoin is evil
submitted by xcsler to Bitcoin [link] [comments]

What are the most solid arguments you have or have heard for why bitcoin will fail?

It's easy to get caught in the circlejerk in this subreddit so I figured it would be a good idea to take a step back, look at the bigger picture and talk about the best arguments against bitcoins success. To get a sort of reality check.
submitted by heroman55 to Bitcoin [link] [comments]

Why can I only store 8 bitcoins in each box? Why make it so inconvenient to store Bitcoins!? Problems like these are why Bitcoin will fail!!

Why can I only store 8 bitcoins in each box? Why make it so inconvenient to store Bitcoins!? Problems like these are why Bitcoin will fail!! submitted by improbitas to Bitcoin [link] [comments]

03-19 00:03 - 'Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.' (self.Bitcoin) by /u/rho300 removed from /r/Bitcoin within 12-22min

'''
The single greatest reason why the US fiat Dollar is the greatest currency on the planet, is because it is backed by guns. It is backed by lots of gun. The US Dollar is backed by the strongest military in the world, most effective battle hardened Army, largest most powerful navy that opens the world’s water ways for free trade to benefit all the world, and has the strongest Air Force. Like it or not it’s true. You might think that the computing power of Bitcoin as a support for value but it is not. They are known as miners, miners only maintain bitcoin blockchain and that is it. Once the price of bitcoin falls AGAIN miners will shut down and reallocate their capital towards crypto with real value.

Because bitcoin has no value, it makes Bitcoin’s perceived price based off of speculation. Basically, what the next guy is willing to pay for it. If that next guy doesn’t want to buy because they realize that it has zero value, then the price drops. We all understand that it meets the college text book definitions of money, but like all college freshman who worships Che Guevara and Fidel Castro and the Bolivarian socialist utopia, you soon grow up and realize that it is all Fud. The concept of bitcoin reads well and in a text book and could operate as a functioning currency in a utopian society, but once you begin to understand that the only thing propping up the value is the next fool that is willing to pay for it, then the bottom begins to falls out. People will point to other things like gold and say that it is driven by perceived value. While this is true, however, with gold people can actually hold it in their hands and wear it as jewelry ect... Because bitcoin is only driven by speculation and had no value you better sell bitcoin now, because once intelligent money moves away from bitcoin only fools will be left holding Fud.
Smart money will move towards crypto projects that have real value. For example, Enigma, the value of Enigma is basically the value of information. Like Facebook, Google, and all the other tech companies their business model is based off of having information and selling it. Enigma will be the medium of exchange for information and the network will house and process data. If you are looking to invest in the next project like Google who will revolutionize the world, then invest in Enigma now before the price passes bitcoin.

*I am not your financial advisor and write this as my personal opinion. In full disclosure I recently bought Enigma because this project is a winner and to show how serious I am about investing in this project I actually barrowed money on a credit card through Binance to purchase Enigma. Some might say I am a degenerate speculating on this project and I will rebuttal with that I have meticulously studied the crypto market and this project far exceeds all others and will change the world in the next couple of years.

At the time of writing this article the price of Enigma is $.43, so If you like this article, feel free to throw some crypto this way, my ERC-20 wallet address is: 0x0b8396CbD9199D47216A703EB861af632fC9ad46
'''
Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.
Go1dfish undelete link
unreddit undelete link
Author: rho300
submitted by removalbot to removalbot [link] [comments]

Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.

UPDATE 1 - Bitcoin Deleted this article within 10 minutes of being posted, I though bitcoin stood for fighting against censorship? I guess Bitcoin oligarchs think otherwise.

The single greatest reason why the US fiat Dollar is the greatest currency on the planet, is because it is backed by guns. It is backed by lots of gun. The US Dollar is backed by the strongest military in the world, most effective battle hardened Army, largest most powerful navy that opens the world’s water ways for free trade to benefit all the world, and has the strongest Air Force. Like it or not it’s true. You might think that the computing power of Bitcoin as a support for value but it is not. They are known as miners, miners only maintain bitcoin blockchain and that is it. Once the price of bitcoin falls AGAIN miners will shut down and reallocate their capital towards crypto with real value.

Because bitcoin has no value, it makes Bitcoin’s perceived price based off of speculation. Basically, what the next guy is willing to pay for it. If that next guy doesn’t want to buy because they realize that it has zero value, then the price drops. We all understand that it meets the college text book definitions of money, but like all college freshman who worships Che Guevara and Fidel Castro and the Bolivarian socialist utopia, you soon grow up and realize that it is all Fud. The concept of bitcoin reads well and in a text book and could operate as a functioning currency in a utopian society, but once you begin to understand that the only thing propping up the value is the next fool that is willing to pay for it, then the bottom begins to falls out. People will point to other things like gold and say that it is driven by perceived value. While this is true, however, with gold people can actually hold it in their hands and wear it as jewelry ect... Because bitcoin is only driven by speculation and had no value you better sell bitcoin now, because once intelligent money moves away from bitcoin only fools will be left holding Fud.

Smart money will move towards crypto projects that have real value. For example, Enigma, the value of Enigma is basically the value of information. Like Facebook, Google, and all the other tech companies their business model is based off of having information and selling it. Enigma will be the medium of exchange for information and the network will house and process data. If you are looking to invest in the next project like Google who will revolutionize the world, then invest in Enigma now before the price passes bitcoin.

This post is marked Spoiler because some of y'all will now realize that your Bitcoin is valueless.

*I am not your financial advisor and write this as my personal opinion. In full disclosure I recently bought Enigma because this project is a winner and to show how serious I am about investing in this project I actually barrowed money on a credit card through Binance to purchase Enigma. Some might say I am a degenerate speculating on this project and I will rebuttal with that I have meticulously studied the crypto market and this project far exceeds all others and will change the world in the next couple of years.

At the time of writing this article the price of Enigma is $.43, so If you like this article, feel free to throw some crypto this way, my ERC-20 wallet address is: 0x0b8396CbD9199D47216A703EB861af632fC9ad46
submitted by rho300 to u/rho300 [link] [comments]

Why Bitcoin will Fail

Why Bitcoin will Fail submitted by cryptoanalyticabot to cryptoall [link] [comments]

itt I education you on why Bitcoin will fail

If something stopped being money, could you still find use for it?
If gold was no longer accepted, could you still directly use gold, to make golden toilets etc. Yes.
So, you ask the question: "If it stopped being money, could one still use it?" If the answer is yes, the thing can continue being money. There is no way to directly enjoy bitcoin by yourself, and that is why it isn't a currency.
(The direct usefulness of fiat is to relieve tax liabilities. The government has promised to accept it for that purpose.)
submitted by Covertbabo12 to Bitcoin [link] [comments]

[0] Why Bitcoin will Fail

submitted by collapse-jeeves to collapse_wilds [link] [comments]

02-23 04:23 - 'Why Bitcoin will Fail' (jamesallan.net) by /u/IceHistory0 removed from /r/Bitcoin within 7-17min

Why Bitcoin will Fail
Go1dfish undelete link
unreddit undelete link
Author: IceHistory0
submitted by removalbot to removalbot [link] [comments]

Why Bitcoin will Fail

Why Bitcoin will Fail submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Why bitcoin will fail to accomplish its main function

Basically the main objective of bitcoin is to act as a virtual currency and to progressively replace government fiat money. The problem is that governments will never allow this and rightfully so because it will make it : 1- impossible to impose taxes 2- impossible to apply anti money laundering 3- make governments lose all control and encourage criminal and terrorist activities.
lt will make terrorism and drug dealers/illegal practices very easy to get away with. Suppose that you sell drugs, if u want to enter that money in the banking system they will ask u about its origin and do an investigation. This is impossible for bitcoin so drug deals or other criminals can easily thrive.
Ultimately, governmnets will never allow it to happen because let s face it a government without tax income and who can t track illegal practices cannot survive and I do not see it happening any time soon.
If you think about it bitcoin used as the official international currency has a lot of cons.
submitted by Bitbitc to Bitcoin [link] [comments]

my stockbroker friend has some interesting arguments about why bitcoin will fail. anyone wanna help me craft a response?

I agree that digital currency is the future, I just don’t know what the currency is going to be (obviously, it might not be bitcoin). I also worry that central banks (and the governments that control them) may move to kill digital currencies at some point. There is a loss of control around non-sovereign currencies and it would be effortless for paranoid governments to pass laws that made digital currency non-convertible. If this happened, then the value of bitcoin would collapse. It also seems a long way off before these currencies earn enough respect to be used as reserve currencies. The safest currencies have always been the ones backed by the most powerful navies. This has been the case for over 500 years. Bitcoin is backed by nothing except faith
submitted by thegrandknight to Bitcoin [link] [comments]

Why Bitcoin will Fail but it's Token's Will Succeed.

Why Bitcoin will Fail but it's Token's Will Succeed.
https://www.yours.org/content/why-bitcoin-will-fail-but-it-s-token-s-will-succeed-d0223c6a3e58
Hello everyone, I've been following crypto for along time. There is so much potential in this technology to change the world, however the ideas and concepts of money in every single place I go and read is flawed. Its so flawed that some people don't not see how they are making the same mistakes as their forefathers made.
This i am taking about Bitcoin as money, as a single uniform commodity given its value by its scarcity. Attempting to make Bitcoin a store of value or medium of exchange or both will lead us right back into the fallen state of the gold standard. Which was a failure for the exact same reason, it was money as a single uniform commodity.
For this reason, i felt impelled to shine light on the darkness that plagues Bitcoiners and crypto-economists. Bitcoin can be so much more than this, Bitcoin can be the true bank buster but only through tokenazation. There is a reason Bankers do not fear Bitcoin, that is because it can be easily manipulated to be money as debt.
Please goto and read the article I posted above. If it interests you and appreciate what I have shown, please purchase the article or make a comment on it. I will be replying mostly there. Thank you all.
PS i will see if i can repost this on bitcoin but i doubt it. :) - Looks like i was shadowbanned and article removed.
submitted by rlphotog to btc [link] [comments]

[WHY BITCOIN WILL FAIL] but blockchain will not...!

  1. Waiting 6 hours for a transaction,
  2. Waiting 6 hours for a transaction
  3. Waiting 6 hours for a transaction and last but not least
  4. Waiting 6 hours for ONE fucking piece of shit TRANSACTION
submitted by HTZine to BitcoinMarkets [link] [comments]

itt I education you on why Bitcoin will fail /r/Bitcoin

itt I education you on why Bitcoin will fail /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Why Bitcoin will Fail but it's Token's Will Succeed. /r/btc

Why Bitcoin will Fail but it's Token's Will Succeed. /btc submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Why Bitcoin will Fail but it's Token's Will Succeed. /r/Bitcoin

Why Bitcoin will Fail but it's Token's Will Succeed. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

69 reasons I've heard why Bitcoin will fail...

submitted by xcsler to GoldandBlack [link] [comments]

Why Most Cryptocurrencies Will Fail - D-Central PROOF that Bitcoin WILL fail! finally a good answer on why bitcoin could fail Why BITCOIN is FALLING & should you SELL? Why Bitcoin is Failing

10 Reasons Why Bitcoin Will Fail. Elena Stark. . . Comments. For people outside of the complex and exciting world of cryptocurrency, Bitcoin can be hard to understand. Many have brushed it off for years, saying that it was a fad that would disappear as quickly as the value of Beanie Babies. However, with the price spiking in the thousands of Why Bitcoin Is Failing. Share. 4. David Glance. Published 6 years ago: January 14, 2015 at 9:30 am-Filed to: au. bitcoin feature servers. Bitcoin was dubbed the worst investment of 2014. As Here are three reasons why. 1. Volatility As a currency, Bitcoin has little value if not converted into dollars, and the value of a single Bitcoin as represented by goods is essentially Mike Novogratz Explains Why Bitcoin (BTC) Is Failing as Safe Haven. News . Sun, 03/01/2020 - 17:58. Alex Dovbnya. Crypto boss Mike Novogratz explains that Bitcoin failed to act as a safe haven asset because of mass liquidations of both risk-on and risk-off assets . Cover image via u.today. Bitcoin and cryptocurrency prices have fallen sharply over the last few days, with around $50 billion wiped from crypto markets. [Updated: 07:32am EST 03/12/2020] The bitcoin price, which had been

[index] [4944] [14399] [11908] [14892] [5604] [7109] [15957] [22731] [30761] [23499]

Why Most Cryptocurrencies Will Fail - D-Central

Debunking Economics and Why Bitcoin Will Fail With Steve Keen - Duration: 1:09:45. whatbitcoindid 25,403 views. 1:09:45. Why Bitcoin Can't Replace the US Dollar (Fiat) - Duration: 10:13. In this video I discuss why Bitcoin will eventually fail. These problems won't really cause big issues for 25-50 years, but they will occur and I personally don't think the Bitcoin Developers will ... And to start, here are four of the top reasons why Bitcoin will fail. 1. Bitcoin is Inherently Deflationary 2. Bitcoin is Recentralized - Fees and Security Concerns 3. Bitcoin is Volatile 4 ... Bitcoin is being built backwards. We have roads, but no cars. Go to: https://satoshismines.com scroll down to find the video on how that can help you grow your bitcoins. Plus if you want to find out more about the tools we have for cryptocurrency investors ...

Flag Counter