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I mean, the critics seem to be more and more right. A few years ago you had companies starting to accept bitcoin as payment. Most of them have gotten rid of tha

I mean, the critics seem to be more and more right. A few years ago you had companies starting to accept bitcoin as payment. Most of them have gotten rid of that now because it failed.

seibelj 8y ago
8 months ago BTC was $19k. Now it’s $7k but that’s still a 7x gain in 18 months. People criticize crypto every year, nothing new.
- themagician 8y ago
  From a consumer perspective, BTC is something that came and went. Companies small and large got onboard, tried to actually use it as a currency, and then it all fell apart. The reality is the stability provided by a centralized monetary system is what most people want above all else. The only way cryptocurrency ever really becomes a transactsble currency is if it provides the same (or greater) stability. The cryptocurrency that will likely succeed is the one tied to a fiat currency and managed by a central authority. To not see that is to be pretty blind to the social reality of money.
  - chrisco255 8y ago
    Not really. Some people dabbled during the last boom, but the baseline for BTC looks like it's well above $5K. Like previous baselines, BTC looks to grow another order of magnitude from here over the next few years. Lightning network is a solid scalability solution that makes retail applications of BTC practical, ETFs are looking more and more likely, NYSE owner launching Bakkt for 401K deposits, etc. The tech is maturing quite rapidly. Meanwhile, the chain itself is highly available, highly resilient, and keeps on chugging along at 100% availability. Retail will come back to BTC, and then some. ETH will continue to advance the idea of a world computer (as will other chains) and what that implies. What we saw last year was a single season of a decades-long shift to crypto currency. Central authorities, by the time they make a move into this space, may be obsolete.
    - themagician 8y ago
      Keep telling yourself that! You’re doing good man!
      - chrisco255 8y ago
        Thanks, 4 years in...I am doing pretty good!

I mean, the critics seem to be more and more right. A few years ago you had companies starting to accept bitcoin as payment. Most of them have gotten rid of that now because it failed.

seibelj 8y ago

8 months ago BTC was $19k. Now it’s $7k but that’s still a 7x gain in 18 months. People criticize crypto every year, nothing new.

themagician 8y ago
From a consumer perspective, BTC is something that came and went. Companies small and large got onboard, tried to actually use it as a currency, and then it all fell apart. The reality is the stability provided by a centralized monetary system is what most people want above all else. The only way cryptocurrency ever really becomes a transactsble currency is if it provides the same (or greater) stability. The cryptocurrency that will likely succeed is the one tied to a fiat currency and managed by a central authority. To not see that is to be pretty blind to the social reality of money.
- chrisco255 8y ago
  Not really. Some people dabbled during the last boom, but the baseline for BTC looks like it's well above $5K. Like previous baselines, BTC looks to grow another order of magnitude from here over the next few years. Lightning network is a solid scalability solution that makes retail applications of BTC practical, ETFs are looking more and more likely, NYSE owner launching Bakkt for 401K deposits, etc. The tech is maturing quite rapidly. Meanwhile, the chain itself is highly available, highly resilient, and keeps on chugging along at 100% availability. Retail will come back to BTC, and then some. ETH will continue to advance the idea of a world computer (as will other chains) and what that implies. What we saw last year was a single season of a decades-long shift to crypto currency. Central authorities, by the time they make a move into this space, may be obsolete.
  - themagician 8y ago
    Keep telling yourself that! You’re doing good man!
    - chrisco255 8y ago
      Thanks, 4 years in...I am doing pretty good!