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He's saying Bitcoin is shit by using example another cryptocurrency as his example. This is simply disingenuous.
by xutopia 9y ago
He's saying Bitcoin is shit by using example another cryptocurrency as his example. This is simply disingenuous.
- wyldfire 9y agoYeah, the fact that he mentioned ICOs so many times is really disappointing. I think many/most ICOs are crap, too, but how does that impact bitcoin?
- PeterisP 9y agoIn order to justify the current valuation of bitcoin, there needs to be some (at least one, but preferably more) future use case that's extremely useful to masses and would have a very large market cap because of it's large scale usefulness. The author mentions a bunch of candidate use-cases that might perhaps somehow justify it (including ICOs), but finds them all insufficient. If it's not competitive to replace a large portion of world wide consumer payments, then the author doesn't see any other use case (other than pure speculation i.e. holding BTC with expectation that they'll appreciate) that's sufficiently huge for the valuation/market cap BTC is currently trying to fill.