6 ms·

> This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital. I was not in the least bit surprised that wh

> This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital. I was not in the least bit surprised that what followed this disclaimer was by and large the same tired anti-Bitcoin arguments we've all been reading since 2010. Not to mention the title is a gross exaggeration and undoubtedly fishing for angry clicks. The worst part is there's a nugget of truth hidden amongst this FUD: the danger of ICOs and other varieties of altcoin scams. There's really no value being created when yet another coin is created that's just an existing coin with a new PoW algorithm stapled on, yet the creator stands to make tens of thousands off of his or her 2% premine, because of people speculating that this might be the Next Big Coin. For this reason, I think the cryptocurrency market is definitely in a speculative bubble. But so what? So is Silicon Valley. Is a Wi-Fi enabled plant waterer really worth $30 million in VC funding? Probably not, but that doesn't mean the Dropboxes and the AirBnBs of the market aren't adding value. The abundance of worthless altcoins doesn't mean the cryptocurrency market as a whole is worthless, but it does mean you should be careful what you invest in.

matthoiland 8y ago
> the same tired anti-Bitcoin arguments we've all been reading since 2010 Agreed. Sounds like he read an article from 2013, learned that Bitcoin isn't a physical coin, then immediately turned to the internet with his opinion. I'll repeat the other argument we've heard since 2010. It's not about Bitcoin – it's about Blockchain technology. It's probably revolutionary. Still too early to really know.
bb88 8y ago
> This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital. That doesn't mean his points aren't valid. There's no membership required to make anti-bitcoin arguments. > Not to mention the title is a gross exaggeration and undoubtedly fishing for angry clicks. I think that title accurately matches his points. And you even admit there's a "nugget of truth" in his post.
sudouser 8y ago
I’d think the founder of PayPal knows a thing or two about moneys...
- garyfirestorm 8y ago
  They said that about banks in 2008
  - sudouser 8y ago
    random guy on internet or PayPal founder, which one can I trust more? hmm...
    - whataretensors 8y ago
      Trust yourself and think for yourself.
hiyer 8y ago
> Is a Wi-Fi enabled plant waterer really worth $30 million in VC funding? When a VC-funded startup fails, the impact is minimal on the man on the street. That's not the case when every dude with a computer and his uncle starts investing in ICOs (or when pension funds invest in collaterized debt obligations).

matthoiland 8y ago

> the same tired anti-Bitcoin arguments we've all been reading since 2010 Agreed. Sounds like he read an article from 2013, learned that Bitcoin isn't a physical coin, then immediately turned to the internet with his opinion. I'll repeat the other argument we've heard since 2010. It's not about Bitcoin – it's about Blockchain technology. It's probably revolutionary. Still too early to really know.

bb88 8y ago

> This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital. That doesn't mean his points aren't valid. There's no membership required to make anti-bitcoin arguments. > Not to mention the title is a gross exaggeration and undoubtedly fishing for angry clicks. I think that title accurately matches his points. And you even admit there's a "nugget of truth" in his post.

sudouser 8y ago

I’d think the founder of PayPal knows a thing or two about moneys...

garyfirestorm 8y ago
They said that about banks in 2008
- sudouser 8y ago
  random guy on internet or PayPal founder, which one can I trust more? hmm...
  - whataretensors 8y ago
    Trust yourself and think for yourself.

hiyer 8y ago

> Is a Wi-Fi enabled plant waterer really worth $30 million in VC funding? When a VC-funded startup fails, the impact is minimal on the man on the street. That's not the case when every dude with a computer and his uncle starts investing in ICOs (or when pension funds invest in collaterized debt obligations).