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Does Bitcoin Have a Future?

ZachBrownfield
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I've been away from the scene for a couple years now, so I may not be fresh on the details. However, from my experience, one of the selling points of Bitcoin was that it was a decentralized currency. That was an easy argument when pretty much any hardware could mine bitcoin, I used to be involved in the scene when GPU mining was still a big deal and even CPUs were somewhat effective still. With Bitcoin now requiring specialized hardware not to lose tons of money, that argument seems invalid to a degree. Like I said though, the scene has changed a lot since I left. So I figured I'd ask what others who have been more involved recently think.

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I have a friend who just recently got into it and it appears from his reading that it still has legs, which revamped my interest. Upon doing some of my own research I found out that it was pretty much impossible to mine with normal hardware anymore. However, he points out that 1 Bitcoin is worth $800 USD, which is more than I even remember it reaching. Without the ability for the "average" person to mine anymore, what is pushing Bitcoin still? 

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2 minutes ago, Mornincupofhate said:

Mining isn't everything. Anyone who wants to make anonymous transactions online can use it. It's literally a stock.

Have the exchanges improved though? I had earned 1 Bitcoin when I think it was worth $400 and tried trading it on the exchange but the exchange claimed to have never received it. After that, I lost a lot of interest and then there was a big exchange in Japan I think that caved in so I just left the scene. 

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3 hours ago, wrathoftheturkey said:

No. It died.

It hasn't died.

 

It's the most widely used cryptocurrency, and pretty much the only one used in places like Grams, Dream Market and Alphabay. Though the latter has started supporting Monero as of recently, but few people actually use it.

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9 hours ago, wrathoftheturkey said:

No. It died. It's a hell lot harder to mine now.

I know you already explained but the price is almost over $1000. That is the same as it was during the gold rush era. I agree mining is dead which is bad but.

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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It's not dead, just hard to mine the currency now! It's still used as untraceable currency (allegedly)! There are other coins that can bee mined like dodge and ect, but they carry farrrrrrrrrr less value than BitCoin! I have around a few hundred thousand Dodge and like 2 bitcoins that seemed to take forever to get! Like another poster said, its like stock, the prices rises and falls!

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11 hours ago, Masteryodi1980 said:

It's still used as untraceable currency (allegedly)!

Bitcoin can be traced using blockchain analysis.

 

Ever heared of coin tumblers? That's why they exist.

i7 4790K || R9 290X + R9 290 || 16GB G.Skill TridentX 1866 || Gigabyte Z97MX Gaming 5 || Crucial MX100 256GB || WD Caviar Blue 1TB

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