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In the early days, detractors would said Bitcoin paper doesn't make sense. Then they admitted the paper makes sense, but said there is no value of the coins.

In the early days, detractors would said Bitcoin paper doesn't make sense. Then they admitted the paper makes sense, but said there is no value of the coins. Then they admitted the coins had value, but they said only criminals would use it. Then after many established legitimate businesses adopted it, then they said it is only usable by people with computer smarts but not for average folk. Then average folk started using it and they said it is not scalable. Then all these low transaction forks and innovations like the lightning network we're coming out, and then they say, "little shot at ever being a major global currency". The bar has been constantly rasied, and the crypto currency community continues to pass it. The fact that this mainstream news article is making the high criticism that it won't be a global currency and not one of these earlier lower criticisms is evidence of success.

zitterbewegung 9y ago
Mainstream news articles are making this hype train go much more faster. Feels like a bunch of PR firms are hyping bitcoin and I don't know why. I even saw another Bloomberg post that has the opposite conclusion today. Someone is ordering a bunch of submarines. (See http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html )
- 34b907j 9y ago
  I'm guessing various holders of large sums of Bitcoin have been employing those PR firms to pump their asset.
lalaland1125 9y ago
> Then they admitted the coins had value, but they said only criminals would use it. Then after many established legitimate businesses adopted it, then they said it is only usable by people with computer smarts but not for average folk. And now many criminals and legitimate businesses are beginning to drop support for Bitcoin [1][2][3]. The crypto currency community is failing to reach pitifully low bars that were set years ago. [1] https://steamcommunity.com/games/593110/announcements/detail/1464096684955433613 https://steamcommunity.com/games/593110/announcements/detail... [2] https://btcmanager.com/end-bitcoin-debit-cards-visa-tells-card-issuer-wavecrest-close-accounts/ https://btcmanager.com/end-bitcoin-debit-cards-visa-tells-ca... [3] https://www.bleepingcomputer.com/news/cryptocurrency/microsoft-halts-bitcoin-transactions-because-its-an-unstable-currency/ https://www.bleepingcomputer.com/news/cryptocurrency/microso...

zitterbewegung 9y ago

Mainstream news articles are making this hype train go much more faster. Feels like a bunch of PR firms are hyping bitcoin and I don't know why. I even saw another Bloomberg post that has the opposite conclusion today. Someone is ordering a bunch of submarines. (See http://paulgraham.com/submarine.html http://paulgraham.com/submarine.html )

34b907j 9y ago
I'm guessing various holders of large sums of Bitcoin have been employing those PR firms to pump their asset.

lalaland1125 9y ago

> Then they admitted the coins had value, but they said only criminals would use it. Then after many established legitimate businesses adopted it, then they said it is only usable by people with computer smarts but not for average folk. And now many criminals and legitimate businesses are beginning to drop support for Bitcoin [1][2][3]. The crypto currency community is failing to reach pitifully low bars that were set years ago. [1] https://steamcommunity.com/games/593110/announcements/detail/1464096684955433613 https://steamcommunity.com/games/593110/announcements/detail... [2] https://btcmanager.com/end-bitcoin-debit-cards-visa-tells-card-issuer-wavecrest-close-accounts/ https://btcmanager.com/end-bitcoin-debit-cards-visa-tells-ca... [3] https://www.bleepingcomputer.com/news/cryptocurrency/microsoft-halts-bitcoin-transactions-because-its-an-unstable-currency/ https://www.bleepingcomputer.com/news/cryptocurrency/microso...