3 ms·

How positive are we meant to be about out right scams and Ponzi schemes?

by aqsheehy 9y ago

brndnmtthws 9y ago
By that logic, you can say the same thing about pretty much every single silicon valley startup.
- aqsheehy 9y ago
  Yes, skepticism is healthy
- Ologn 9y ago
  Some startups will grow very large and become very valuable and will stay around for a long time. No cryptocoins will be around for a long time. They are all going to crash to near worthlessness, including Bitcoin and Ethereum. Also the idea of Webvan was not a bad one, they were just too early. People put too much money in too early to a good idea. Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing. Just like quack medicine was worthless a century ago and is worthless now.
  - aqsheehy 9y ago
    Bitcoin has value, you need it to buy drugs online.
  - hndamien 9y ago
    It is a bank, so I will keep buying.
    - mrep 9y ago
      Are you suggesting cryptocurrencies are banks? Please explain that logic. I also suggest you read up on the tulip mania [1]. Note: I do think bitcoin has value for illegal transactions but that's the only place I see cryptocurrencies solving a problem more efficiently than current solutions. [1]: https://en.wikipedia.org/wiki/Tulip_mania https://en.wikipedia.org/wiki/Tulip_mania
  - 6nf 9y ago
    > They are all going to crash to near worthlessness, including Bitcoin Why? > Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing That's not true. Coins do things you can't do otherwise. Instant peer to peer value transfer over the internet for example.
    - Ologn 9y ago
      > Instant peer to peer value transfer over the internet for example. You can't do a value transfer when there is no value.
      - function_seven 9y ago
        > You can't do a value transfer when there is no value. Fortunately for Bitcoin, there is value. And as long as people continue to derive value from its function, it will continue to deliver it.

How positive are we meant to be about out right scams and Ponzi schemes?

brndnmtthws 9y ago

By that logic, you can say the same thing about pretty much every single silicon valley startup.

aqsheehy 9y ago
Yes, skepticism is healthy
Ologn 9y ago
Some startups will grow very large and become very valuable and will stay around for a long time. No cryptocoins will be around for a long time. They are all going to crash to near worthlessness, including Bitcoin and Ethereum. Also the idea of Webvan was not a bad one, they were just too early. People put too much money in too early to a good idea. Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing. Just like quack medicine was worthless a century ago and is worthless now.
- aqsheehy 9y ago
  Bitcoin has value, you need it to buy drugs online.
- hndamien 9y ago
  It is a bank, so I will keep buying.
  - mrep 9y ago
    Are you suggesting cryptocurrencies are banks? Please explain that logic. I also suggest you read up on the tulip mania [1]. Note: I do think bitcoin has value for illegal transactions but that's the only place I see cryptocurrencies solving a problem more efficiently than current solutions. [1]: https://en.wikipedia.org/wiki/Tulip_mania https://en.wikipedia.org/wiki/Tulip_mania
- 6nf 9y ago
  > They are all going to crash to near worthlessness, including Bitcoin Why? > Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing That's not true. Coins do things you can't do otherwise. Instant peer to peer value transfer over the internet for example.
  - Ologn 9y ago
    > Instant peer to peer value transfer over the internet for example. You can't do a value transfer when there is no value.
    - function_seven 9y ago
      > You can't do a value transfer when there is no value. Fortunately for Bitcoin, there is value. And as long as people continue to derive value from its function, it will continue to deliver it.